TRUSTEES' REPORT AND ACCOUNTS 2024 49
RSPCA Europe is an international non-profit association,
constituted in Belgium. The RSPCA UK charity agreed to set up
RSPCA Europe following the UK's exit from the European Union
(EU). It is used to lobby and take part in EU activities. RSPCA Europe
activities generated no income (2023: n/a) and incurred costs
of £9k (2023: n/a) resulting in a net deficit of £9k (2023: n/a). The
immaterial deficit is purely due to administrative delays in setting
up the new organisation's grant framework. Grant income is
projected in 2025 to support the establishment of RSPCA Europe
and ensure a neutral financial position.
Future performance, going concern and long-term
financial sustainability
Financial sustainability is a key priority for the RSPCA and we
have reviewed our reserves policy to give consideration to the
current financial risks we face.
The results in 2024, following three years of exceptional performance,
allow us to keep using our designated funds to support the delivery
of our ambitious strategy; to grow income, modernise the organisation
and maximise the impact for animal welfare. We have also been
able to designate a further £15.5m towards six new programmes of
work across a range of activities: supporting our branch network,
campaigning, developing international partnerships, encouraging
prevention through education, match-funding a donation for an
animal welfare evidence centre, and growing our partnerships
and philanthropy strategy.
Looking ahead, we acknowledge the challenging environment
we operate in, and the significant external uncertainties, such as
geopolitical risks, economic instability in the UK and the lingering
effects of the cost-of-living crisis on pet owners and our supporters.
The sluggish growth in the UK and lasting inflationary pressures
fuelled the cost-of-living crisis and triggered a 'cost-of-giving'
crisis, which have impacted charities and could be a risk in the
short-to-medium term.
The relatively volatile economic environment had a very
favourable impact on our investments in both 2023 and 2024 but
it is impossible to predict how the current climate will impact
our holdings in the next 12 to 18 months. We are working closely
with our investment managers to ensure our approach remains
adequate to the situation.
Several factors disrupted the planning and budget processes
last autumn. These included leadership changes (retirements
and resignations), unexpected cost increases due to high animal
intake, a late employer National Insurance increase from the
autumn budget and a challenging fundraising environment.
We are taking the opportunity to revisit the plan for 2025 and
2026 to reflect our latest thinking on the ambitions and priorities,
and updates to our operating environment. As well as ensuring
delivery of a sustainable plan for the medium term, we will
re-phase work to reduce the pace and pressure on colleagues
as we continue to work with a degree of uncertainty regarding
organisational leadership.
We are confident that, despite the challenges outlined, we will
continue to provide our critical services for animals in need and
anchor long-term financial sustainability for the group.
In addition to those key programmes, following the implementation
of a planning and analysis tool to improve our planning, financial
modelling and scenario-analysis capabilities in 2024, we are also
tightening the key processes that support our planning cycle, and
strengthening performance reporting across the organisation.
Signed on behalf of the RSPCA Board
Amanda Bringans Karen Harley
Chair, RSPCA Board of Trustees Treasurer, RSPCA
26 June 2025