Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 REGISTERED CHARITY NUMBER: 503759 REPORT OF THE TRUSfEES AND FINANCIAL ATEmEKrS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR RSPCA RADCUFFE SHELTER TRUST Duncan & Toplis Audit Limited, Statutory Auditor 3 Princes Court Royal Way Loughborough Leicestershire LEII 5XR
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1 C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST CONTEp¥fs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Report ot the Independent Audltors 10 to 12 Statement of Flnanclal Actlvltles 13 Balance Sheet 14 Cash Flow Ststement 15 Notes to the Cash Flow Statement 16 Note5 to the Financial Ststements 17 to 28
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statements of RSPCA Radcliffe Shelter Trust Ithe charity) for the ended 31 December 2024. The Trustee5 confirrn that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. End of Year Review 2024 Animal Welfare and Case Work 2024 was a steady yet impactful year for the Centre. A substantial wjrtion of our kennel space was occupied by a complex, multi-dog welfare case currently pending legal resolution. Our veterinary and behavioural teams have played a vital role in the animals, rehabilitation, enabling their progress towards rehoming readiness. The majority of animals-particularly dogs-required veterinary interventions. leading to prolonged stays. Rising treatment costs have increasingly been cited by owners as a reason for relinquishment. highlighting an ongoing challenge in community pet ownership. Nonetheless, our rehoming team celebrated many successful outcome5. A standout story is that of Marley, an emaciated hu5kv restored to health by our dedicated staff - a journey captured in this inspiring video- Watch Marley's story. Such stories continue to drive public support through donations and legacies. The rehoming numbers 2024 were Dogs 71, Cats412 and Rabbits 28. Staff Development and Qualifications The Centre continued to invest in its workforce= One additional team member achieved qualification in anaesthetic monitorin& enhancing veterinary capacitv. Three apprentices earned distinrtions in animal care, a testament to our commitment to training and excellence. Our Centre Manager is undertaking a Level 7 Diploma in Leadership and Management, promoting strong and forward-thinking leadership for the Centre's future sustainability. Community Engagement and Outreach Our volunteering and educational programmes remain in high demand. aligning with our prevention-focused approach to animal welfare. These efforts strengthen our presence and trust within the local community. Our community neutering initiative, aimed at controlling the population of unwanted cats and kwttens, continues to be well-utilised a reflection of both public need and the Centre'5 Strategic use of infrastructure to maximise animal welfare impart. Page I
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJEcnvES AND AcnviTIES Polities & Objertives The Trust operates within a national network pursuing the same objective5 as the Royal Society for the Prevention of Cruelty to Animals. Whilst being a self-funding independent charity. the Trust operates utilising a licence issued by the National Society of the RSPCA and as such the Trust adheres to the animal Welfa policies of the RSPCA. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. In particular, the Trustees consider how planned activities will contribute to the aim and objectives they have set. The animal accommodation can house 80 dogs. 77 cats and 10 rabbits. Animals of a domestic nature are offered for adoption to suitable members of the public. The Shelter does not normally care for wild animals: these animals are passed onto specialist carers. Provided space is available. no animal is ever turned away from the Shelter. where they can be a55ured of clean, well maintained accommodation. will be well fed. will be provided with veterinary care. and where they will be looked after by dedicated staff of around 25 people and regular volunteers. No animals are euthanised unless un5Ultable for rehoming due to health or behavioural problem5 which could compromise long term welfare of the animal or pose a public safety risk. Animals are placed in the care of Radcliffe Shelter by members of the public, local RSPC4 Branches and by the Society's own Inspectorate. Governance and rtrategic direction The Trustees have been progressing towards converting the Centre's legal structure to a Charitable Incorporated Organisation ICIO). This transition will facilitate the recruitment of additional Trustees and help diversify the Board, strengthening governance. Ongoing trustee oversight ensures that opportunities for organisational growth and sustainability are actively pursued, safeguarding the Centre's capacity to deliver high-quality, essential services across Nottinghamshire. Strategies for achieving objectives All staff attend regular appropriate training courses induding NVQ qualifications. Specialist courses for managers and sUPeIS0rS and also dog behavioural training are included. With this in mind we strive to achieve the best care and the best results for animals in our care. As a major source of income is provided by legacies from our donors, additional efftlrt will be made to make our need for these legacies more widely known. FINANCIAL REVIEW Financial position Total incoming resources for the year were £710,359 12023.. £674,050), including legacies of £86,54312023= £86,371). Expenditure was £821,03612023= £785,988). Net gains on investments totalled £43,565 12023= £36,8331, resulting in a net loss for the year of £67,11412023.. Loss £75,105) The 2024 budget allowed for incoming resources of £570.450. and expenditure of £868.800, with a net budgeted deficit of £298,350. Artual results show sigrbificantly better results than were bijdgeted. Investment policy and performance The Trust employs Brewin Dolphin to manage all investments on a discretionary basis. Brewin Dolphin will manage the portfolio through making investments on a low to medium risk basis. All investment purchases and sales are notified by Brewin Dolphin to the Trustees and the Trustee5 have online reporting acce55 to the portFolio. The fund made a net Bain of £43,56512023- £36,833). Page 2
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves At the end of the year, the Trust held an accumulated fund of £3,568,12412023.. £3,635,238). The Trustees have reviewed the Trust's reseNes policy and age(l the following= -The Trust holds reserves in order that levels of seNice provided for animal welfare may be maintained should there be a reduction in incoming resources. This should be equivalent to 12-18 months expenditure. -Reserves in this context should mean funds that are freely available for the Trust's general purposes after all commitments have been met. The Trustees therefore agree that tangible fixed assets such as property and equipment. together with any restricted funds, should be excluded from the calculation of general reserves. 2024 2023 Total reserves Less- Tangible fixed assets Less- Intangible fixed assets 3,568,124 3,635,238 12,139,340) 12.203,6031 1,428,784 1.431,635 The Trust, therefore, held some £1,428,784 12023= £1,431.6351 in available funds at the year end. This represents approximately 20.7 months expenditure. based on 2024 levels of expenditure 12023: 20.5 months). This level of reserves exceeds the Trustees desired range of 12-18 months. Included within the fixed assets total above is £213.71412023: £223.7011 of restricted funds. Cash levels: 2024 2023 Cash in hand Notice Deposits Iless than 3 months) 53.960 29,452 131,693 25,124 83.412 156,817 Other Matters: There are no other matters of significance to report. There were no changes to funding during 2024, nor are any changes planned for 2025. Going concern The financial statements have been prepared on a going concern basi5 as the Trustees believe that there are no known, or reasonably foreseeable, conditions or event5, present or fvture, that raise any substantial doubt about the Trust's ability to continue as a going concern. The Trustees have considered the level of funds held, and the expected level of income and expenditure for the next 12 months, together with that of 2025. and the budgeted income and expenditure is sufficient, with the level of reserves, for the Trust to be able to continue as a going concern. Page 3
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 PLANS FOR FUTURE PERIODS Business Planning Large scale development of our rehoming, education and veterinary facilities were completed in 2019. Before any large scale future planning can occur, the true costs of njnning the Centre need to be established. A "normal" year of income and expenditure has not yet been seen. mainly because of the high numbers of dogs in our care awaiting court decisions and the cost of living crisis. The main target for 2025 is the achievement of CIO status which will allow the increase in Trustee numbers currently limited to five. Focus as always is on maximising our income generation. Future Developments The Charity's budget predicts levels of legacy income for the forthcoming year. and is based on previous years, experience. Income from legacies will continue to be a variable source of income to the Charity. The budget for 2025 shows a deficit of £205,365 (before any investment losse5 or gains) which will reduce further the reserves of the Charity in the absence of legacy income. The Trust is continually looking to increase the income and reduce the likelihood of 3 deficit being incurred thereby prolonging the Charity's ability to use reserves held for the furtherance of its objects. The Trustees have carefully considered the future plans for the shelter. Allowing for the volatility and uncertainty of legacy income, an improved income stream is essential. To this end work has been carried out in 2025 continuing to focus on more effective use of social media and other internet based forms of income generation. sTRUURE, GOVERNANCE AND MANAGEMENT Governing docurnent The charity is controlled by its governing document. a deed of trust and constitutes an unincorporated charity. Charlty constltutlon The principal object of the tharity is to use the freehold property for the reception, boarding and adoption of unwanted, lost, starvin& injured or diseased animals, for the promotion of kindness, and pventIOn or suppression of cruelty to animals. The trust is an unincorporated trust, constituted under a trust deed dated 26 September 1973, and amended by agreements dated 30 December 1991, 13 December 1993 and 16 May 1994. Method of Appointment or Election of Trustees The trust is administered by the Trustees who are nominated representatives from the Nottinghamshire branches of RSPCA, although the power to appoint them remains with the National RSPCA Board. Each appointment is for a term of four years. Page 4
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational strurture The trustees who served during the year were-. David Carter Suzie Etridge David Evans Michael Tomlinson Stephen Buckman At the date of signing these accounts the Trustees were as follows: Stephen Buckman David Carter Suzie Etridge David Evans Michael Tomlinson By Deed of Agreement dated 16 May 1994 the Trust Deed was varied to give powers for the appointment of a Management Committee for the Shelter. It has been agreed that the role of the Management Committee be suspended, and replaced by a full meeting of the Trustees on a monthly basis. Day to day administration of the animal shetter is delegated to the Animal Centre Manager. Employees are consulted on issues of concern to them by means of regular staff meetings, and are kept informed dirertly by the management, on specific matters. There is a full programme of regular staff training for NVQ and other training programmes. Policies Adopted for the Induction and Training of Trustees Prospective Trustees are invited to attend a Trustees meeting prior to appointment. Upon appointment they are provided with a set of the Trust Deed and attached agreements. together with a copy of the previous year's audited accounts. These are then later discussed in a one to one meeting. Any further training required is considered at the appropriate time. For new Trustees, attention is drawn to the Charwty Commission document "The essential trustee- what you need to know, what you need to do ICC31" Pay Poll¢y for Senlor stsff Remuneration and benefits of all the charity's personnel (including the key management personnel) are set in line with other comparable large animal rehoming centres and take into account the level of skills and experience required, responsibility given, and the rate of inflation. In particular, reference will be made to the most recent salary sutveys and salaries paid by other local charities in the same field and of equivalent size. The Centre Manager's level of remuneration is set and agreed by the Trustees, all other positions are set by the Centre Manager and agreed by the Trustees. Should the post of Centre Manager become vacant it will be advertised throughout the RSPCA and externally via the Trust's website. All the trustees give freely of their time. and no trustee received remuneration for their work for the charity in the year, other than the reimbursement of expenses. Page 5
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Principal Risks and Uncertainties Economlc outlook World events still impart the investments held by the Trust. To ensure best advice, Brewin Dolphin are employed as our professional advisers to mitigate any loss of investment value. On 3 world stage global growth forecasts have continued to be taken lower with the impact on investments being considered by the Trustees. A large number of animals have been taken into the Centre as a result of enforcement action by the National Society's Inspectorate. These animals cannot be rehomed until the judicial proedIngS are completed, sometimes taking in excess of eighteen months. This leads to a significant drop in animals available for rehoming and a subsequent decrease in adoption fees through 2023. To maximise adoptions, the Trust must ensure that it is at forefront of adopter's minds as opposed to any of our competitors. Injury to Member of the Public or Stsff All Health and Safety risk a55e55ments and training is in place to reduce any potential occurrence. Rlsk to IT systems All essential IT systems have now been moved to "cloud" service providers who are responsible for the security and availability of the Trust's information.This restrutture has performed well through 2023. In addition to this, The Trust continues to contract a professional IT support company to ensure continuity of seNice. With the rapid advance of technology, we will maintain our efforts to take advantage of this advancement and reduce costs while providing a more effertive setvice. Failure to Effectively Manage Projerts No further large scale projects are currently planned. although over the next few years the refurbishment of the kennels is still under consideration. Adoption of Animals During the Covid pandemic. rehoming measures were put in place. The remote system of matching animals to owners has proved to have longer lasting advantages to the running of the Centre. The method in which we rehome animals continues to be appraised. We are continuing to see animals needing to stay longer as those animals brought into us by Inspectors are often those needing veterinary treatment and extensive rehabilitation. The average cost per animal has therefore continued to rise in terms of boarding costs and provision of treatment. Adoption numbers are down because of a restricted intake and the remote adoption process, although those animals coming into us are being successfully rehomed. With this in mind adoption income decreased. As our supporters have had to move online for their nomial everyday life. the adoption model has been accepted by our adopters. The animal centre has continued to provide support to the national society, the veterinary industry and the general public by providing a neutering service to assist with a potential kitten crisis. For some of the general public. access to veterinary services still poses a problem. Staffing Leve15 The Centre trains its own apprentices and therefore it is not believed that sourcing appropriate personnel will be a problem. Page 6
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Fundraising As the Trust has no area allocated to it by the National RSPCA, traditional fundraising artivities e.g. flag days, door to door collections are not available to the Trust. Our focus therefore is to encourage donors to donate dirertly to the Trust. Over the last year our new website and social media presence continues to increase awareness in the general public that The Radcliffe Shelter Trust is a self-funding organisation. The charity subscribes to the Code of Fundraising Prartice in all of tts fundraising activities. Every person involved in fundraising for the charity. is trained and inducted on the expectations as set out in the code of practice. We comply with all the GDPR legal requirements regarding donors, or fundraisers, personal data. No third-party organisations or consultants were used for raising funds for the charity. There have been no breaches or complaints received with the application of this code and GDPR regulations in the reporting period. As with most charities, a large portion of our income is Still in the form of legacie5. In the past donors could have left a legacy to the RSPCA with the expectation that some of these funds would h'lter down to the Trust. We continue to make information available to ensure the general public are aware that the Trust is an independent Charity relying entirely on donations made dirertly to the Trust. It is difficult to accurately assess if this has led to an increase in legacy donations, but it is noted that incoming legacy income has risen over the last two years. This may be coincidental. The Trust receives significant amounts of assistance in the form of volunteering both by individuals and corporate organisations for which we are extremely grateful. We are grateful for the involvement of our volunteers and supporters. Whilst this assistance is invaluable to the Trust, it is not possible to value in monetary terms the extent of this assistance and accordingly. the intangible income is not included. Income Generation The Statement of Financial Activities for the year is set OLrt on page 13 of the financial statements. A summary of the financial results and the work of the Charity is set out below. The Charity's total income increased by 5% from £674,051 in 2023 to £710.359 in the year ended 31 December 2024. Donations and gifts received during the year amounted to £76,726 in comparison to £110,951 ceiVed during 2023 and shows continued support from various sections of society. Income from legacies has continued to be a core but variable source of income to the Charity. The Charity's financial statements for the year include legacy income of £86.543 received durirbg 2024 compared to £86,371 received during 2023. In 2024, legacies to the Trust fell short of budget expectations. The Trustees are aware that we cannot depend on legacies and we have built a business plan on that basis. Charitable expenditure in relation to the reception, boarding and care of animals at a cost of £806.48212023 £765,865) continues to be a significant part of the Charity's overall expenditure. Rlsk management The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trust has a low to medium risk tUrn policy on its investment portfolio. The investments are managed by Brewin Dolphin. The management of the portfolio is on the basis of regulations detailed in the RSPCA Art 1958 and the Trustees have given the investment managers discretion to manage the portfolio within the agreed risk profile. REFERENCE AND ADMINISTRATIVE DAlls Registered Charity number 503759 Page 7
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Principal address 32 Nottingham Road Radcliffe on Trent Nottingham Nottinghamshire NG12 2DW Trustees S Buckman D Carter S Etridge D Evans M Tomlinson Auditors Duncan & Toplis Audit Limited. Statutory Auditor 3 Prince5 Court Royal Way Loughborough Leicestershire LEII 5XR Bankers Lloyds Bank PIC Old Market Square Nottingham Nottinghamshire NGI 6FD Investment Advisors Brewin Dolphin 1st Floor Waterfront House Waterfront Plaza 33 Station Street Nottingham NG2 3DQ Senior management team Ella Carpenter, Animal Centre Manager TRUSTEES, RESPONSIBIUTY STATEMENT The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charitie5 Act 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 incoming resources and application of resources. including the income and expenditure. of the charity for that period. In preparing those financial statements. the trustees are required to select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with asOnable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Art 2011, the Charity (Accounts and Reports) Regulations 2(K)8 and the provisions of the trust deed. 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 irregularitie5. Page 8
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51FFC2 RSPCA RADCLIFFE SHELTER TRUST REPORT OFTHE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 05-Sep25 | 14:30 BST . and signed on its behalf by.. Approved by order of the board of trustee5 on . SvJTred ty. ..>17EFthlI_............................................ D Evans- Trustee Page 9
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 REPORT OFTHE INDEPENDENT AUDITORSTOTHETRU5fEESOF RSPCA RADCLIFFE SHELTER TRUST Opinion We have audited the financial statements of RSPCA RadclwFfe Shelter Trust Ithe 'charity'l for the year ended 31 December 2024 which comprise the Statement of Financial Activities. the Balance Sheet. the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Art 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Materlal uncertalnty related to golng concem We draw attention to Note 17 in the financial statements, which indicates the trustees, intention to transfer the activities of the charity to a newly registered CIO. The transfer of activities is subject to charty Commission approval, which is expected to be within 12 months. The transfer of the land and property is subjert to land registry approval, and the charity will be closed thereafter. As stated in Note 17, this may be within 12 months, time, indicating that a material nrtaInty exists that may cast significant doubt on the charity's continuation as a going concern. Our opinion is not modified in respect of this matter. Other information The trustees are responsible for the other inforniation. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not tover the other information and. except to the extent otherwise explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon. In connection with our audit of the financial statements, our SponsIbl11ty is to ad the other information and, in doing $0, consider whether the other information is materially inconsistent with the financial statements or our knowle(Jge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fart. We have nothing to report in this regard. Matters on which we are required to Teport by exception We have nothing to report in respect of the following matters where the Charities IAccounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements,. or sufficient accounting records have not been kept: or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanation5 we require for our audit. Responslbllltles of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, an(J for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to frau¢J or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 10
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 REPORT OFTHE INDEPENDENT AUDITORSTOTHETRU5fEESOF RSPCA RADCLIFFE SHELTER TRUST Our responsibilities for the audit of the financial statements We have been appointed a5 auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience. knowledge of the sector. a review of regulatory and legal correspondence and through discussion5 Wlth Trustees and other key management obtained as part of the work required by auditing standards. We have a150 discussed with the Trustees and other key management the policies and procedure5 relating to compliance with laws and regulations. We communicated laws and regulations throughoLrt the team and remained alert to any indications of non-compliance throughout the audit. The potential impart of different laws and regulations varies considerably. Firstly, the charity is subjert to laws and regulations that directly impact the financial statements Ifor example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements lincluding risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as the depreciation charge, as well as the risk of inappropriate journal entries to manipulate reported surplus/deficit. Audit procedures performed by the engagement team included the identification and testing of unusual material journal entries and challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on material accounting estimates, including reviewing the methods and data used by management to make those estimates. r&performing the calculation and reviewing the outcome of prior year estimates. Secondly. the charity is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect.. Animal Welfare Act 2006. Safeguarding and Health and Safety regulations. Employment laws and Fundraising regulations. The charity is subject to regular internal and external audits to ensure compliance with these areas. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other key management and inspection. This inspection included a review of the external audits conducted within the year for any evidence of non-compliance, reading minutes of meetings of those charged with governance, in addition to an assessment of the charity's formal risk assessment. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transartions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non4etection of irregularities as these may involve collusion. intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web51te at www.frt.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 11
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 REPORT OFTHE INDEPENDENT AUDITORSTOTHETRU5fEESOF RSPCA RADCLIFFE SHELTER TRUST Use of our report This report 15 made solely to the charity'5 trustees. as a body. in accordance with Part 4 of the Charities IAccount5 and Reports) Regulation5 2008. Our audit work has been undertaken 50 that we might state to the charity'5 trustee5 those matters we are required to State to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chariws trustees as a body, for our audit work, for this report, or for the opinions we have formed. Signed by.. e87D073AF8O2.. Duncan & Toplis Audit Limited. Statutory Auditor 3 Princes Court Royal Wav Loughborough Leicestershire LEII 5XR 08-Sep-25 | 16:31 BST Date.. Page 12
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total fund5 2023 Total funds UnrestTirted fun(1 Restricted funds Designated Notes INCOME AND ENDOWMENTS FROM Donations and legacies 163,274 163,274 197,322 Charitable activities Reception, boarding and care of stray animals Provision of education 441.692 23,(KKJ 441,692 23,(K)O 375,123 23,000 Other trading activitie5 Investment income Other income 16.166 39.141 27.086 16.166 39.141 27.086 17,677 37.856 23.073 Totsl 710,359 710,359 674,051 EXPENDITURE ON Raising funds 14.556 14,556 19,914 Charitable artivities Reception, boarding and care of stray animals io 796.494 9.988 806,482 765,864 Other 211 Total 811.050 9.988 821.038 785,989 Net gains on investments 43.565 43,565 36,833 NET INCOMEIIEXPENDITUREI 157,1261 19,9881 167,1141 175,1051 RECONCILIATION OF FUNDS Total funds brought forward 2.211,537 1,2(M).(KKJ 223,701 3,635,238 3,710,343 TOTAL FUNDS CARRIED FORWARD 2,154,411 1.2(K).CKXI 213,713 3,568,124 3,635,238 The notes form part of these financial statements Page 13
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RAOCLIFFE SHELTER TRUST BALANCE SHEET 31 DECEMBER 2024 2024 Total fund5 2023 Total funds UnrestTicted fun(1 Restricted funds Designated Notes FIXED ASSETS Tangible assets Investments 19 20 1,925,626 13.062 213,714 2,139,340 1,213,062 2,203,603 1,184,625 1.200.CMXJ 1.938,688 1,2(M).(MYJ 213,714 3,352,402 3.388,228 CURRENT ASSErs Stocks Debtors Investments Cash at bank and in hand 21 22 23 6,979 179.454 29.452 53.960 6,979 179.454 29.452 53.960 6,596 144.761 25,124 131.693 269.845 269,845 308,174 CREDITORS Amounts falling due within one year 24 154,1231 154,1231 161,1641 NET CURRENT ASSETS 215.722 215,722 247,010 TOTAL ASSEfs LESS CURRENT UABILITIES 2.154,410 1,2m.CKKJ 213,714 3.568,124 3.635,238 NET AssErs 2.154.410 1.2LK).LKYJ 213.714 3.568,124 3.635.238 FUNDS Unrestricted funds Restricted funds 25 3.354,410 213.714 3,411.537 223,701 TOTAL FUNDS 3,568,124 3,635,238 O&Sep-25 | 14'.30 BST The f1nancial statements were approved by the Board of Trustees and authorised for issue on were signed on its behalf bv= and BC23F0347AEF441.. D Evans- Trustee The notes form part of these financial statements Page 14
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST CASH FLOW STATEMEP FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating artivitles Cash generated from operations Interest paid 1121.3941 123,2951 12111 Net cash used in operating artivities 1121,3941 123,5061 Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Sale of fixed asset investments Interest received Dividends received 16,2791 1278.7961 289,595 754 38.387 165,1541 1190,3641 198.504 657 37.199 Net cash provided by/lu5ed inl investing activities 43,661 119,1581 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 177,7331 142,6641 131,693 174,357 Cash and cash equivalents at the end of the reporting period 53.960 131,693 The notes form part of these financial statements Page IS
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE C4SH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING AcnvmES 2024 2023 Net expendlture for the reporting period las per the Ststement of Financial Activities) Adjustments for: Depreciation charges Gain on investments Interest received Interest paid Dividends received Ilncreaseljdecrease in stocks Ilncreaselldecrease in debtors IDecreasel/increase in creditors 167,1141 175,1051 70,543 143,5651 17541 81,177 136,8331 16571 211 137,1991 749 32,108 12,254 138,3871 13831 134.6931 17.0411 Net cash used in operations 1121.3941 123.2951 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash flow At 31.12.24 Net cash Cash at bank and in hand 131,693 177,7331 53,960 131,693 177,7331 53,960 Liquid resources Deposits included in cash Current asset investments 25.124 4.328 29.452 25.124 4,328 29,452 Totsl 156,817 173,4051 83,412 The notes form part of these financial statements Page 16
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION RSPCA Radcliffe Shelter Trust is an unincorporated charity in England. The charity's registered number 15 2503759. The charity's printipal address is 32 Nottingham Road, Radcliffe on Trent, Nottingham, NG12 2DW. The financial statements are presented in sterling which is the fvnctional currency of the charity and are rounded to the nearest £. The finacial statements cover the individual entity. The significant accounting policies applied in the preparation of these accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ACCOUNTING POUCIES Basis of preparing the financial statements The financial Statements of the charity. which is a public benefit entity ur)der FRS 102, have been prepared in accordance with the Charitie5 SORP IFRS 1021 'Accounting and Reporting by Charitie5'. 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 IFRS 1021 leffective l January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Art 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The accounts Ifinancial statements) have been prepared to give a 'true and fair, view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the relevant version of the Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Income All income is recogni5ed in the Statement of Financial Activities once the charity has entitlement to the funds, it 15 probable that the income will be received and the amount can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorlsl to the Trust that 8 distribution will be made, or when a distribution is received from the estate. Receipt of a legary, in whole or in part, Is only considered probable when the amount can be MeasUd reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFR51021. the general volunteer time is not recognised. Refer to the trustees, report for more information about their contribution. On receipt, donated professional Services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.. a corresponding amount is then recognised in expenditure in the pefiod of receipt. Income tax recoverable in latiOn to (lonations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income from government and other grants. whether 'capital' or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable the income will be received and the amount can be measured reliably and is not deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interest paid or payable by the bank. Page 17 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES- continued Expenditure Expenditure is recognised once there is legal or tonstructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be requi in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each artivity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single artivity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs are those incurred in seeking voluntary contributionsand do not include the costs of disseminating information in 5UPPOrt of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the object5 of the charity and include project management carried out at Headquarters. Governance cost5 are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attrarting voluntary income, and those incurred in trading activities that raise funds. All expenditure is inclusive of irrecoverable VAT. Intangible assets and amortisation Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost. After recognition. under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight line basis over its expected useful life. Amortisation is provided on the following ba5iS= Web51te development - 20% perannum of cost Property. plant and equlpment Property, plant and equipment costing £l,(KM) or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Property, plant and equipment are initially recognised at cost. After recognition, under the cost model, property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring property, plant and equipment into its intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Impairment losses are recognised in the statement of financial activities. Depreciation is charged so as to allocate the cost of property, plant and equipment less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Freehold propertv Fixtures and fittings Computer equipment - 2% perannum ofcost - 20% perannum ofcost - 20% perannum ofcost Inventories Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving inventory. Cost includes all direct costs. Page 18 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES- continued Taxation The Trust is a registered charity and, as such, is not liability to income, corporation or capital gains tsx. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. Restrirted funds are funds which are to be used in accordance with spectfic restrirtions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such fund5 are charged against the specific fund. Investment income. gains and losses are allocated to the appropriate fur)d. Further explanation of the nature and purpose of each fund 15 included in the notes to the financial statements. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Investments Fixed asset investments are measured at fair value if the shares are publicly traded or can otherwise be measured reliably. The fair value is represented by the bid price at the financial reporting date. Realised and unrealised gains or losses on investments are accounted for in full within the particular fund of which the investment form5 3 part. 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 depNJsit or similar account. Penslon costs and other post-retirement beneffts The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financi31 instruments. Basic financial instruments are init1311y recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Liabilities and prOS1On5 Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the psent value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial attivities as a finance cost. Operating leases Rentals paid under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term. Page 19 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF EsnMATION UNCERTAINTY In the application of the charitable company's accounting policies, rnanagement is required to make judgement5, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experien and other fartors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no significant accounting judgements or estimation uncertainty that, in the opinion of the trustees, will have a material effect on the financial statements. DONATIONS AND LEGACIES 2024 2023 General donations Legaties 76,731 86,543 110,951 86,371 163,274 197,322 The charity receives donations of animal food for use within its charitable activities. However, the trustees believe that the cost and practicality of forming a reliable estimate of the value of these donations outweighs the benefits to the users of the financial statements of including this figure, and as such the value of donated goods has not been quantified in the Statement of Financial Artivities. OTHER TRADING A1vE5 2024 2023 Shop income 16.166 17.677 INVESTMENT INCOME 2024 2023 Dividends from listed investments Deposit account interest 38,387 754 37,199 657 39.141 37,856 INCOME FROM CHARITABLE A1VITIEs 2024 2023 Activity Income from charitable activities Reception. boarding and care of stray animals Income from charitable activities Provision of education 441.692 23.000 375,123 23.000 464,692 398,123 Page 20 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrITS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER INCOME 2024 2023 Commissions receivable Sundry Income 19,532 7,554 18,267 4,806 27,086 23,073 RAISING FUNDS Other trading activities 2024 2023 Purchases 3,756 5,606 Investment management costs 2024 2023 Investment advice 10,800 14,308 Aggregate amounts 14.556 19,914 io. CHARITABLE AcTIVlEs cosrs Dirert Costs15ee note 111 Support costs (see note 121 Totals Reception, boarding and care of stray animals 627.288 179,194 806,482 ii. DIREcf COSTS OF CHARITABLE AcnvmES 2024 2023 Staff costs Rates Insurance Postage and stationery General maintenance Motor and travel External veterinary fees Drugs and vaccines Microchip5 Body disp05als and clinical waste Food Animal consumables General cleaning Animal care booklets and tags Sundry expenses Staff training Depreciation 436,534 1.035 4.338 644 53,718 3.875 2.830 29.896 1.409 440 3,399 16,597 7,615 1,196 1,398 6,141 56.223 378,280 1,441 3,001 I,oio 46,567 2,844 1,546 39.436 1.652 1,072 3,427 16,687 8,674 1,944 2,314 370 56,223 627,288 566,488 Page 21 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. SUPPORT COSTS Governance Costs Other Tota15 Reception, boarding and care of stray animals 164,354 14,840 179,194 13. AUDITORS, REMUNERATION 2024 2023 Fees payable to the charity's auditors for the audit of the charity's financial statements Fees payable to the charity's auditors for other services.. Preparation of the charity's financial statements 12.720 12,000 2,120 2,000 14. TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other beneftts for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses During the year. one trustee was reimbursed expenses totalling £32 12023= £INilll in relation to photocopying costs incurred while carrying out trustee duties. These expenses were supported by appropriate documentation. 15. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 461.336 28.222 10.770 419.907 24.699 10.206 500,328 454,812 The average monthly number of employees during the year was as follows- 2024 15 2023 13 li Full Time Part Time 24 24 No employees received emoluments in excess of £60.IKK). The key management personnel of the Trust relates to management of the animal centre. Total remuneration includirbg employers pension and national insurance contributions was £64.36412023 - £60,350). The Trust reteives significant amounts of assistance in the fomi of volunteering both by individuals and corporate organisations. Whilst this assistance is invaluable to the Trust, it is not possible to value in monetary terms the extent of this assistance and accordingly, the income and expenditure is not included. Page 22 continued...
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrITS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 16. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNMES Unrestricted fund Restricted fund5 Total funds Designated INCOME AND ENDOWMENTS FROM Donations and legacies 184,509 12,813 197,322 Charitable activitie5 Reception, boarding and care of stray animals Provision of education 375,123 23,OIKJ 375,123 23,000 Other trading activities Investment income Other income 17,677 37.856 23.073 17,677 37,856 23,073 Total 661.238 12.813 674,051 EXPENDITURE ON Raising funds 19,914 19,914 Charitable artivities Reception, boarding and care of stray animals 759,202 6,662 765,864 Other 211 211 Total 779,327 6,662 785,989 Net gains on investments 36.833 36,833 NET INCOMEIIEXPENDrruRE) 181.2561 6,151 175,1051 RECONCILIATION OF FUNDS Total funds brought forward 2,292,793 1,2(M),O(Kl 217,550 3,710,343 TOTAL FUNDS CARRIED FORWARD 2,211,537 I,21),000 223,701 3,635,238 17. GOING CONCERN-TRANSFER OF OPERATIONS In April 2025. a new CIO registration was granted for The Royal Society for the Prevention of Cruelty to Animals Radcliffe Animal Shelter Nottinghamshire CIO. registered charity number 1212852. It is the intention of the trustees to transfer all activwties of the charity to this new CIO when Charity Commission approval is given, which is expected to be within 12 months. The charity will ultimately be closed when land registry approval is received for the transfer of the land and property, which may also be within 12 months. time. The activities of the charity will be unaffected, and all assets and liabilities will be transferred at their carrying value. Therefore, no adjustments will be required as a result of this. Accordingly, the trustees have chosen to adopt the going concern basis in preparing the financial statements. However. the trustees note a material uncertainty exists. Page 23 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. INTANGIBLE FIXED ASSETS Website COST At I january 2024 and 31 December 2024 12,000 AMORTISATION At I january 2024 and 31 December 2024 12,000 NET BOOK VALUE At 31 December 2024 At 310ecember 2023 19. TANGIBLE FIXED ASSErs Fixtures and fittings Freehold property Computer equipment Totals COST At I january 2024 Additions 2,811,164 160,933 6,279 18,186 2,990,283 6,279 At 31 December 2024 2.811,164 167,212 18,186 2,996,562 DEPRECIATION At I january 2024 Charge for year 631.776 56.223 137,033 14,004 17,871 315 786,680 70,542 At 31 December 2024 687.999 151.037 18.186 857.222 NET BOOK VALUE At 31 December 2024 2,123.165 16.175 2,139,340 At 31 December 2023 2,179,388 23,9(X) 315 2,203,603 20. FIXED ASSET INVESTMENTS Listed investments MARK VALUE At I january 2024 Additions Disposals Revaluations 1,184,625 283,974 1289.5951 34.058 At 31 December 2024 1,213,062 NET BOOK VALUE At 31 December 2024 1,213,062 At 31 December 2023 1,184,625 There were no investment assets outside the UK. Page 24 continued...
Docusign Envelope ID.. F2BC48DB-FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 20. FIXED ASSET INVESTMENTS- continued C05t or valuation at 31 December 2024 is represented by- Listed investments Valuation in 2024 1,213,062 21. STOCKS 2024 2023 Stocks 6,979 6,596 22. DEBTORS: AMouTr¥fs FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade debtors Gift aid recoverable Prepayments 74,588 10,842 94,024 68,372 8,362 68,027 179,454 144,761 23. CURRENT Ass INVESTMENTS 2024 2023 Cash on deposit investments 29.452 25,124 24. CREDITORS: Amouiifs FALUNG DUE WtTrllN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Accrued expenses 16,866 12,183 2,480 22,594 17,734 20,504 1,982 20,944 54.123 61,164 25. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestrirted funds General fund Reserves to cover fluctuations in income 2,211,537 1.200,CI)O 157,1271 2,154,410 1,200,000 3.411,537 157,1271 3,354,410 Restrirted funds Restricted fixed asset fund RSPCA Notts Nottingham University 214,150 5,413 4,138 17,6001 11,3531 11,0341 206,550 4,060 3,104 223,701 19,9871 213,714 TOTAL FUNDS 3.635.238 167.1141 3.568,124 Page 25 continued...
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RAOCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 25. MOVEMENT IN FUNDS- tontinued Net movement in funds, included in the above are as follows- Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 710.359 1811.0511 43,565 157,1271 Restricted funds Restricted fixed asset fund RSPCA Notts Nottingham University 17,6001 11.3531 11.0341 17,6001 11.3531 11.0341 19.9871 19.9871 TOTAL FUNDS 710,359 1821,0381 43,565 167,1141 Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Reserves to cover fluctuations in income 2,292.793 1,200.WO 181,2561 2.211,537 1.200,000 3.492.793 181.2561 3,411.537 Restrirted funds Restricted fixed asset fund RSPCA Nott5 Nottingham University 217.550 13,4001 5,413 4,138 214,150 5,413 4,138 217,550 6,151 223,701 TOTAL FUNDS 3,710,343 175,1051 3,635,238 Comparative net movement in funds, included in the above a as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 661,238 1779.3271 36,833 181,2561 Restrirted funds Restricted fixed asset fund RSPCA Notts Nottingham University 13,4001 11,3531 11,9091 13,4001 5,413 4,138 6,766 6.047 12.813 16,6621 6,151 TOTAL FUNDS 674.051 1785,9891 36,833 175,1051 Resticted fixed asset fund The restricted fixed asset fund relates to the rebuild project which took place in 2013, the animal ambulances which were also purchased in 2013 and monies in relation to the new veterinary facilities in 2019. treatment room and new cattery. Page 26 continued...
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RADCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 25. MOVEMENT IN FUNDS- tontinued Reserves to cover Ilurtuations in Income The designated lund was set up to cover fluctuations in voluntary income le.g. legacies) in future periods. RSPCA Notts This relates to a macerator purchased in 2023 which was fijnded by RSPCA Nottingham and Nottinghamshire. Nottingham University This relates to an air conditioning unit installed in 2023 which was funded by Nottingham University. 26. EMPLOYEE BENEF OBUGAMONS The pension cost charge represents contributions payable by the charity to a separately independently administered fund and amounted to £10.770 12023= £10.2061. A total of £88712023..£8501 in contribLWtion5 were outstanding at the balance Sheet date. 27. OTHER FINANCIAL COMMITMENTS The charity has commitments to make minimum lease payments under non-cancellable leases as follows- 2024 2023 In one year 2-5 years 3,582 2.344 5,971 5,926 5.926 11,897 RELATED PARTY DISCLOSURES David Evan5 who 15 a trustee of RSPCA R3dtliffe ShelterTrust 15 also a trustee of RSPC4 Nottinghamshire East. During the year RSPCA Radcliffe Shelter Trust charged RSPCA Nottinghamshire East £35112023.. £5391 for vets fees and contributions for animals brought in from the branch. At 31 December 2024 an amount of £35112023.. £5391 was owed by RSPCA Nottingham East. 29. FINANCIAL INSTRUMENTS The carrying amount of the charity's financial instruments are as follows: 2024 2023 Financial assets at fairvalue through incorne and expenditure Listed investments 1,213,062 1,184,625 The incomes, expenses, net gains and net losses attributable to the charity's financial instruments are summarised as follows.. 2024 2023 Net gains and losses lincluding changes in fair value) Financial assets measured at fair value through net income/expenditure 43,565 36,833 The total dividend income from financial assets that are measured at fair value through the income statement was £38,387 12023- £37.1991. Page 27 continued...
Docusign Envelope ID.. F2BC48D&FB824C41-BB01-865C1C51 FFC2 RSPCA RAOCLIFFE SHELTER TRUST NOTES TO THE FINANCIAL STATEMETrtrs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 30. CONTINGENT ASSETS At the balance sheet date, the charwty has been notifie(l of a further two legacies which it will receive a share of. However, the amount of the charity's share of these legacies is not known and therefore no amounts have been recognised within these financial statements in respect of these legacies. Page 28