TRUSTEES' REPORT AND ACCOUNTS 2014 31
15 DESIGNATED FUND MOVEMENTS AT
1 JANUARY 2014
£'000
ADDITIONAL
APPROVED
£'000
NOT REQUIRED
£'000
DEPRECIATION
AND DISPOSALS
£'000
AT
31 DECEMBER 2014
£'000
Tangible Fixed Assets Fund 94,647 2,024 (20) (6,974) 89,677
Other designations 5,000 0 0 0 5,000
Total designations 99,647 2,024 (20) (6,974) 94,677
The tangible fixed asset fund represents the actual net book value of tangible fixed assets within the general fund, plus capital and
major project commitments for which funding is not held within restricted funds. Other designations relate to legacy income received
from a complex high value estate, against which the Society has provided an indemnity to the executor to the value of £5m.
16 SUBSIDIARY COMPANY UNDERTAKINGS RSPCA TRADING LIMITED FREEDOM FOOD LIMITED
Incoming resources
2014
£'000
2013
£'000
2014
£'000
2013
£'000
Income from charitable activities 0 0 1,772 1,794
Sale of goods 525 174 40 12
Other fees and charges received 1,036 1,270 336 330
Total incoming resources 1,561 1,444 2,148 2,136
Resources expended
Cost of goods sold 1,025 687 0 0
Charitable costs to further animal welfare 0 0 2,037 2,348
Governance costs 0 0 10 9
Taxation 53 0 0 0
Total resources expended 1,078 687 2,047 2,357
Net incoming /(outgoing) resources before transfers 483 757 101 (221)
Transfers
Gift aid payable (293) (677) 0 0
Grant from the RSPCA 0 0 0 250
Net movements in reserves 190 80 101 29
Balances brought forward at 1 January (187) (267) 540 511
Balances carried forward at 31 December 3 (187) 641 540
a) RSPCA Trading Limited Since 1991 this company has been used for direct sales, royalties and special events. The issued share capital is
owned by the RSPCA and, where company law allows, all potentially taxable profits, after recovery of available losses, are transferred to
the RSPCA by Gift Aid.
b) Freedom Food Limited Freedom Food Limited, a wholly-owned subsidiary of the RSPCA, is being used by the Society for the
encouragement of the adoption of RSPCA approved standards of animal welfare of livestock farming operations.
c) RSPCA Enterprises Limited (formerly RSPCA Properties Limited) Dormant for the entire year.
d) RSPCA Campaigns Limited Incorporated 5 September 2014 and dormant for the remainder of the year.
17 MOVEMENT IN RESOURCES HELD FOR THIRD PARTIES
During 2014, the Society received £9.0m (2013, £7.2m) in legacies payable to branches. These are not shown in the Statement of Financial
Activities. The sums received are paid to branches as soon as the recipient branch has been identified.
18 LEGACIES NOTIFIED
As at 31 December 2014, the Society had been notified of seven (2013, nine) high value legacies (over £500,000) with an estimated value
of £6.2m (2013, £8.1m). Interim payments of £3.2m have been received, the balance is included in the legacy income accrual (note 7).
There are 260 cases notified in 2014 (excluding life interest and life interest residuary) which it has not been possible to value.
NOTES TO THE ACCOUNTS