Cats' Protection

Objectives

Cats Protection is the UKís leading feline welfare charity. Our vision is a world where every cat is treated with kindness and an understanding of its needs. Cats Protection is the UKís leading feline welfare charity. Our vision is a world where every cat is treated with kindness and an understanding of its needs. Itís an ambitious vision. However, we truly believe it can be achieved because of our passion, our professional approach and simply because cats are among the UKís most popular companion pets. Cats Protection has simple and clear objectives to help cats: Homing: Finding good homes for cats in need; Neutering: Supporting and encouraging the neutering of cats; Information: Improving peopleís understanding of cats and their care.

Professional Advisers

Auditors KPMG LLP; Haysmacintyre

Trustees

Ms H McCann (Chairman), Prof T Gruffydd-Jones (Deputy Chairman), Ms Wendy Bosler, Ms N Holloway, Mrs M Price, Mr P Sheehan, Dr A Swarbrick, Mrs J Toben

Officers

Mr P Hepburn (Chief Executive), Mr Dominic Sullivan (Director of Legal Services)

Investment Policy

Our investments are broken down into the following categories: An investment portfolio held in equities, alternative investments and cash equivalents, long term in nature, administered by investment managers on a discretionary basis; Short-term working capital in term deposit accounts. The policy for the investment portfolio is to provide a positive investment return to the charity without exposing the charity to undue risk. Despite having a well diversified portfolio, this was insufficient to prevent a significant fall in value during 2008 due to the exceptional economic environment, when there was a widespread fall in the majority of asset values. At the time of the banking crisis during October 2008, the investment managers were instructed to keep surplus cash funds in government gilts to ensure the security of these funds, this restriction was removed in January 2009, as the banking situation stabilised. Almost 65 per cent of the value lost during 2008 was regained during 2009. A further £2m of unrealised gains were made during 2010 returning the portfolio to a value similar to that of before the 2008 banking situation. The economic climate remains uncertain and £1.9m of unrealised losses were recognised during the year, however, the dynamic nature of market behaviour has meant this loss has been reversed during the first quarter of 2012. The policy for the short-term working capital portfolio is to provide a reasonable return from cash deposits in relation to market rates. Cats Protection appointed Royal London Cash Management (RLCM) at the end of 2009 to manage a portion of the short-term working capital. Its expertise will enable these funds to be diversified across a large number of deposits, ensuring risk to the funds is minimised.

Governance

The Board met eight times in the year to administer the affairs of the charity, set strategies and policies and approve all major expenditure programmes. Directors of the Corporate Trustee Company serve for a period of five years and are then eligible for re-election. At the Annual General Meeting, a Council is elected with between 10 and 22 members. The functions of Council are to elect five Directors to the board of the Corporate Trustee Company from among its members and to advise the Board. All Directors of the Corporate Trustee Company are also Council members. Council met four times in the year.

General Review

We believe that our aims and objectives, and our vision of a world in which every cat is treated with kindness and an understanding of its needs, benefits society as a whole. Cats play a huge part in the lives of millions of people in the UK. The latest research indicates that there are some 10.3 million cats owned in UK households. Sadly, there is also an unknown number of cats living in a wild state or fending for themselves. An estimated 131,070 cats come in to animal welfare charities such as Cats Protection each year. We help to rehome and reunite many cats which have been abandoned, which have strayed or which, for whatever reason, are no longer wanted or cannot be kept. We also help to control the feral and owned populations through our neutering work and education work. Because of economic conditions, the demand for our help is greater than ever. We also provide public benefit in a variety of other ways by: Reassuring cat owners that their cats will be cared for and rehomed when they become incapable of looking after them either through illness, death or for other reasons; Helping to control the incidence and spread of disease and suffering in cat populations through vaccination, neutering and education; Assisting those on low incomes with the cost of neutering through our voucher scheme; Assisting local authorities and local communities by taking in and rehoming stray, lost or abandoned cats and by controlling feral populations; Assisting local authorities by taking in cats from multi-cat households; Providing volunteering opportunities for those who wish to support our work including through the Duke of Edinburgh (DoE) programme; Providing advice to government departments on animal welfare legislation where appropriate with other animal welfare organisations; Providing educational talks and other activities to increase awareness of cat welfare. The Schools Programme helps young people understand their role in society towards cat welfare; Commissioning and undertaking research into matters affecting cats and the human population; Helping people experiencing domestic abuse, and their cats, by providing temporary care for their cats under the Freedom Project, in liaison with the Dogs Trust; Enhancing the quality of life from people in care homes both by homing cats into care homes and encouraging care homes to welcome residentsí own cats.

National Cat Centre
Chelwood Gate
Haywards Heath
RH17 7TT

Tel: 0870 708 649
Fax: 0870 708 265

www.cats.org.uk

CC number: 203644

Performance Guide Rankings

investment assets 378 / 1000
investment income 433 / 995
return on investments 684 / 995
investment management costs 226 / 743
inv mgmt costs as % of inv assets 269 / 743

inv mgmt costs as % of inv income 181 / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments - / 661
income from short-term investments - / 726
listed investment inc as % of inv income - / 661
short-term investment assets 264 / 988

legacy income 16 / 226
grants received - / 88
total voluntary income 41 / 628

grants made - / 668
charitable expenditure 65 / 638
charitable expenditure as % of total expenditure - / 335
support costs - / 230
management & administration fees 177 / 970
audit fee per £m of income 812 / 949

total incoming resources 92 / 1000
total resources expended 86 / 1000
total assets 267 / 1000
period ending 2010 2011
INCOMING RESOURCES £m £m
legacies 19.08 19.56
grants - -
other voluntary income 7.73 7.95
total voluntary income 26.81 27.51
activities, furtherance of charities objects - -
activities for generating funds 7.56 7.48
trading subsidiaries - -
sales and fees from operating activities 7.56 7.48
investment property - -
dividends - -
total listed investments - -
income from subsidiaries - -
interest on cash & short term inv - -
total investment income 0.68 0.76
TOTAL INCOMING RESOURCES 35.31 36.05

RESOURCES EXPENDED £m £m
fundraising costs 2.60 3.65
investment management costs 0.14 0.12
Investment costs 0.14 0.12
other costs 3.46 3.63
cost of generating funds 6.19 7.40
activities, furtherance of charities objects 30.61 29.99
management and admin 0.14 0.15
total charitable expenditure 30.75 30.14
TOTAL RESOURCES EXPENDED 36.94 37.54

ASSETS £m £m
intangible assets - -
tangible fixed 27.45 28.48
equities - -
bonds - -
listed investments 30.36 27.24
investment assets 30.36 27.24
other fixed assets - -
total fixed assets 57.80 55.72
stock 0.07 0.05
debtors 1.67 1.51
cash 3.00 3.35
short-term investments 1.38 1.39
current assets 6.12 6.29
bank loans & overdrafts - -
trade & other creditors, accruals 3.03 2.57
creditors falling due within one year 3.03 2.57
net current assets 3.09 3.72
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year - -
provisions for liabilities and charges 2.00 1.68
TOTAL ASSETS 58.89 57.75

ASSETS £m £m
income funds 56.01 52.87
endowment funds - -
restricted funds 2.88 4.88
TOTAL FUNDS 58.89 57.75