TRUSTEES' REPORT AND ACCOUNTS 2024
70
Group
2024
£'000
Group
2023
£'000
Charity
2024
£'000
Charity
2023
£'000
6. Investments
a) Analysis of movements in the year
Market value at 1 January 130,183 119,348 130,183 119,348
Acquisitions at cost 125,914 15,141 125,914 15,141
Disposal proceeds (139,652) (15,759) (139,652) (15,759)
Realised and unrealised gains/(losses) in the year 12,525 11,453 12,525 11,453
Fair value at 31 December 128,970 130,183 128,970 130,183
Cash held in portfolio at 31 December 5,552 17,931 5,552 17,931
Total fair value at 31 December 134,522 148,114 134,522 148,114
Historical cost at 31 December 125,616 108,755 125,616 108,755
b) Analysis of investments held at 31 December
Listed investments:
Equities 92,791 94,749 92,791 94,749
Bonds 13,141 20,749 13,141 20,749
Multi-asset funds 8,929 5,263 8,929 5,263
Alternatives 13,417 8,713 13,417 8,713
Total listed securities 128,278 129,474 128,278 129,474
Unlisted securities:
Investment property 692 709 692 709
Cash 5,552 17,931 5,552 17,931
Total investments at fair value 134,522 148,114 134,522 148,114
c) Programme-related investments
Loans to branches less provisions 157 188 157 188
d) Current asset investments
Current asset investment 6,000 6,000 6,000 6,000
The total gain on investments was £12,437k (2023: £11,577k), of which £10,940k (2023: £10,772k) was unrestricted, £0k (2023: gain £157k) was restricted
and a loss of £497k (2023: gain £648k) was in respect of endowment funds.
The fair value of the investment properties held by the RSPCA has been determined using percentage yields calculated by the RSPCA's in-house Estate
Surveyor who has expert knowledge of the RSPCA's properties and is a member of the Royal Institution of Chartered Surveyors.
Programme-related investments relate to loans made by the RSPCA to RSPCA branches. No new loans were made by the RSPCA within the year.
Notes to the accounts continued
YEAR ENDED 31 DECEMBER 2024