ifaw-united-kingdom-charity-financial-statements-2010-2011

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24 International Fund for Animal Welfare (IFAW) Company registered number 2701278 Statement of cash flows for the year ended 30 June 2011 Net cash inflow from operating activities 17a 2,068,066 2011 2010 Note £ £ Returns on investments and servicing of finance Investment income 17a 74,326 Capital expenditure and financial investment Payments to acquire tangible fixed assets (13,815) Payments to acquire fixed asset investments (517,883) Proceeds from sale of fixed asset investments 417,579 Increase/(decrease) in net cash balances 17b 2,028,273 3,329,000 63,699 (36,739) (486,244) 349,681 3,219,397
25 International Fund for Animal Welfare (IFAW) Company registered number 2701278 Notes to the financial statements for the year ended 30 June 2011 1 Principal accounting policies Basis of accounting The financial statements are prepared in accordance with the historical cost convention (as modified by the revaluation of certain fixed asset investments) and applicable Accounting Standards in the United Kingdom. IFAW Charity is a registered charity and the financial statements are prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities 2005 (“the SORP”), the Charities Act 1993, as amended by the Charities Act 2011 and the Companies Act 2006. The Trust has adapted the Companies Act formats to reflect the Charities SORP and the special nature of the Trust’s activities. A summary of the more significant accounting policies, which have been applied consistently, except where noted, is set forth below: Funds General Fund This fund is not restricted as to its use and is for activities that fall within the objects of the charity. The general Fund is available to fund the annual expenditure of the Charity. Designated Funds These are funds set aside by the Trustees out of unrestricted general funds for particular future purposes or projects. The Trustees have designated funds to generate income to fulfil the long term objects of the charity. The income generated by this fund remains within the fund. The fund and current needs of the charity are reviewed on a regular basis and transfers to unrestricted funds are made as deemed necessary by the Trustees. Restricted Funds Certain grant and other income that is restricted as to its use by the donor is shown separately on the Statement of Financial Activities together with related expenditure. Legacies Legacy income is recognised on an accruals basis when it becomes reasonably certain that the legacy will be received and the amount is determinable. Donation and lottery income Donations, other than legacy income, and other similar income, are recorded as received. Income from grants Grants receivable are recognised in the period in which the conditions for receipt of the grant have been met. Income from investments and deposits Income on investments and deposits is recognised on an accruals basis. Intangible income Gifts of services or assets, which the Charity would otherwise have had to purchase, are reflected in the financial statements at cost to the donor, where the benefit is quantifiable and measurable.
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