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2023-03-31-accounts

Charity registration number 1010000

CAT AND RABBIT RESCUE CENTRE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CAT AND RABBIT RESCUE CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs D B Rafter
Miss J Laws
Mrs D M Rayner
Charity number 1010000
Principal address Holborow Lodge
Chalder Lane
Sidlesham
Chichester
West Sussex
PO20 7RJ
Auditor Jordan Abbott BSc ACA
Jones Avens Limited
Piper House 4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX

CAT AND RABBIT RESCUE CENTRE

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 25

CAT AND RABBIT RESCUE CENTRE

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Public benefit

The trustees whilst following the Charity Commissions guidance on Public benefit cannot physically help everyone within our geographically defined area. Where we cannot take somebody's pet or stray, we offer our neutering scheme where applicable, advice or give details of other charities that may be able to help.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Use of volunteers

The Charity has many volunteers who make a significant contribution to its operations including home visiting, supporting our retail operations and fundraising as well as supporting our animal care operations. The Charity could not survive in its present form without the contributions and support of our dedicated and committed volunteers.

Achievements and performance

During the year, CRRC rescued 821 animals and rehomed 743 animals, an increase on previous year as we came out of the pandemic impact. CRRC’s performance reflects the national recovery of activities following the relaxation of the covid pandemic restrictions and the gradual increase in confidence of our supporters in returning to our Charity shops and fundraising activities. The animal rescue and rehoming statistics for 2022-23 are shown in the table below:

2022-2023 Rescues and Rehoming

2022-2023 Rescues and Rehoming 2022-2023 Rescues and Rehoming
Species Rescued Rehomed Died at
centre		 At centre on
31/3/23
Fosters
(included in
rehoming)
Cats/kittens 653 587 18 135 8
Guinea Pigs 69 69 1 4 0
Rabbits 99 87 1 45 1
Total 821 743 20 184 9
Comparison 2021-2022 718 656 44 140 13
Change on lastyear 14.35% 13.26% -54.55%

CAT AND RABBIT RESCUE CENTRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

After wages, veterinary and medical costs are the next highest cost category for CRRC. A summary of the medical treatments performed are set out in the table below:

2022-2023 Animal Medical Treatments 2022-2023 Animal Medical Treatments
Species Vaccinations Health/Dental
check ups		 Spay &
Neuter		 TOTAL
Cats/kittens 970 626 228 1824
Rabbits 110 133 44 287
Guinea Pigs N/A 67 N/A 67
Total 1080 826 272 2178

During 2022-2023

In recognition of the need to raise funds outside of donations and legacies we implemented a plan of finding and opening a further 4 charity shops within our locality. This has been successful and we opened 2 in the Autumn of 2022, a further one in the Spring of 2023 and the final one in the Summer of 2023.

We also recognise the changing landscape of social media and employed a fundraising manager with part of the role to raise our online presence, gaining increased following via various platforms.

CRRC has also continued with the “Friends”, “Sponsorship” and “Neutering” schemes, and has continue to undertake feral work when needed.

Fundraising

Fundraising is an important part of the day to day working of the Cat and Rabbit Rescue Centre; without funds being raised for the Charity, we would not be able to undertake all the work that the Centre covers.

Types of Fundraising

The main fundraiser during the year is the Annual Summer Fete held at the Centre in August. This attracts large numbers of supporters and the staff and volunteers work tirelessly for many months preparing for the event.

At Christmas a local hall is rented for a Christmas Fair although this raises much smaller sums of money than the summer event.

In addition to the Annual Fetes, the Charity is in attendance at various local fetes and shows during the year, organised by other Charities, but CRRC has a presence helping to promote the Charity in the local community. During the year one or two of the local supermarkets allow the Charity to collect outside their shop which, again, raises funds but also donations of animal food are received.

We place collecting boxes for the Charity in various veterinary practices and local shops across the Charity’s catchment area and regular donations are made to the Charity by supporters throughout the year with two main schemes for attracting regular donors, our Friend of CRRC and our Sponsor an animal scheme.

Our shops are our best form of raising funds for the Charity, of which we currently have seven, with a further shop to be opened at the beginning of September.

Fundraising Regulator

The Charity is registered with the Fundraising Regulator and the Code of Fundraising is fully complied with.

Compliant with Code of Fundraising

There have been no failures by the Charity to comply with the Code of Fundraising.

Fundraising carried out by individuals for the Charity

Fundraising at events outside events is usually manned by volunteers including Trustees.

CAT AND RABBIT RESCUE CENTRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Fundraising Manager along with our Trustee responsible for fundraising does the majority of the bookings of such outside spaces and ensures the individuals have all they require to run a stall.

Money raised at such events is passed to the Finance Team or a Trustee for banking. A breakdown of funds raised split between donations, sale of goods and games is then provided to the Finance Team to support the analysis of the funds raised.

Complaints

No complaints were received by the Charity in the last year.

Protection of vulnerable people and the general public from unreasonable intrusions on their privacy

The charity does not contact individuals directly for donations. We use our social media accounts, our monthly e- newsletter and bi-annual magazine to raise awareness of special projects or other special needs. The Charity is always appreciative of responses from individuals but in no way are supporters put under any pressure to donate to the Charity. In addition to cash donations from time to time, the public are very generous when an appeal goes out, for example at Christmas, for food to support the animals.

We have a Donation, collection box & Safeguarding Policy.

Financial review

At the year end, the total funds held by the charity were £2,722,340 (2022: £2,643,156), consisting of £31,950 restricted funds (2022: £48,140) and unrestricted funds of £2,690,390 (2022: £2,595,016). Included within charitable funds are £1,335,663 tangible fixed assets (2022: £1,268,587) which can only be realised by disposing of those tangible assets. Also included within charitable funds are £537,892 of fixed term investments (2022: £958,907) which are term deposits due to mature after more than three months.

Income for the year at £1,133,448 was £240,550 up on the previous year (2022: £892,898) due to legacies up £46k, the increased post pandemic activity led to an increase in adoption fees of 13k, fundraising events re-established resulted in an increase of £13k and shop income up £176k due to more post pandemic activity and the additional shops. The 21/22 grant income included £21k of Covid-19 support.

Expenditure for the year at £1,054,264 was £248,233 up on the previous year (2022: £806,031), this is a result of the additional set up, & operational costs for the two new shops of £42k, increased animal numbers raised directly related costs by £28k, legal & professional fee increase of £11k include costs in relation to the new shops, VAT advice and CIO advice wage costs have increased in line with the minimum wage increase plus the full year costs of our general manager and fundraising manager who started during the previous year, new shop staff. Last year also included the last of the furlough payments, increasing wages costs by £163k.

Income therefore exceeded expenditure by £79,184 for the year (2022: £86,867).

Policy on reserves

The Charity's policy is to hold free reserves of at least one year's expenditure (approximately £1,054k), but with contingency for new projects to improve the work of the Charity (approximately £100k), giving a total of £1,154k.

At the end of the accounting period, the unrestricted funds were £2,690k (2022-£2,595k), of which £1,335k (2022£1,269k) are invested in fixed assets. This leaves free reserves of £1,355k, which is in line with the policy. The trustees are considering the future plans of the Charity in this respect.

Structure, governance and management

The constitution of the Charity is set out in the Deed of Trust dated 7th May 1991 and the Deed of Variation dated 27th May 1997, 17th August 2017 and 6th July 2018.

CAT AND RABBIT RESCUE CENTRE

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CAT AND RABBIT RESCUE CENTRE

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CAT AND RABBIT RESCUE CENTRE

Opinion

We have audited the financial statements of Cat and Rabbit Rescue Centre (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and

Reports) Regulations 2008 require us to report to you if, in our opinion:

CAT AND RABBIT RESCUE CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAT AND RABBIT RESCUE CENTRE

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Identification and assessment of irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures were capable of detecting irregularities, including fraud is detailed below:

CAT AND RABBIT RESCUE CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAT AND RABBIT RESCUE CENTRE

Audit response to the risk of irregularities including fraud

Based on the results of our risk assessment, our procedures included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We considered our audit was capable of detecting irregularities due to:

the absence of contradictory evidence.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

CAT AND RABBIT RESCUE CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAT AND RABBIT RESCUE CENTRE

Jordan Abbott BSc ACA (Senior Statutory Auditor) for and on behalf of Jordan Abbott BSc ACA

22/09/2023

.........................

Chartered Accountants Statutory Auditor

Jones Avens Limited Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX

Jordan Abbott BSc ACA is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

CAT AND RABBIT RESCUE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
3
511,316
4,401
Charitable activities
4
83,391
-
Other trading
activities
5
510,816
-
Investments
6
12,088
-
Other income
7
11,436
-
Total income
1,129,047
4,401
Expenditure on:
Raising funds
8
146,100
-
Charitable activities
9
889,528
18,636
Total expenditure
1,035,628
18,636
Net incoming/(outgoing)
resources before
transfers
93,419
(14,235)
Gross transfers
between funds
1,955
(1,955)
Net income/(expenditure)
for the year/
Net movement in funds
95,374
(16,190)
Fund balances at 1 April
2022
2,595,016
48,140
Fund balances at 31
March 2023
2,690,390
31,950		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
515,717
474,369
11,297
83,391
67,346
-
510,816
321,584
-
12,088
8,105
-
11,436
10,197
-
1,133,448
881,601
11,297
146,100
102,778
-
908,164
692,038
11,215
1,054,264
794,816
11,215
79,184
86,785
82
-
1,450
(1,450)
79,184
88,235
(1,368)
2,643,156
2,506,781
49,508
2,722,340
2,595,016
48,140		 Total
2022
£
485,666
67,346
321,584
8,105
10,197
Donations and
legacies
3
Charitable activities
4
Other trading
activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net incoming/(outgoing)
resources before
transfers
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1 April
2022
Fund balances at 31
March 2023
892,898
102,778
703,253
806,031
86,867
-
86,867
2,556,289
2,643,156

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Notes
Fixedassets
Tangible assets
14
Investments
15
Currentassets
Debtors
16
Cashatbank and in hand
Creditors:amountsfallingduewithin
oneyear
17
Net current assets
Totalassetslesscurrentliabilities
Incomefunds
Restricted funds
18
Unrestriqed funds		 2023
£
£
1,335,663
537,892
1,873,555
59,086
821 ,249
880,335
(31,550)
848,785
2,722,340
31,950
2,690,390
2,722,340		 2022
£
£
1,268,587
958,907
2,227,494
41,698
396,123
437,821
(22, 159)
415,662
2,643,156
48,140
2,595,016
2,643,156

CAT AND RABBIT RESCUE CENTRE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

2023
Notes
£
Cash flows from operating activities
Cash generated from operations
23
Investing activities
Purchase of tangible fixed assets
(105,424)
Proceeds from disposal of tangible fixed
assets
1,500
Purchase of investments
(5,861)
Proceeds from disposal of investments
426,876
Investment income received
12,088
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
95,947
329,179
-
425,126
396,123
821,249		 2022
£
£
87,200
(65,697)
-
(86,575)
-
8,105
(144,167)
-
(56,967)
453,090
396,123

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Cat and Rabbit Rescue Centre is an unincorporated charity, registered with the Charity Commission number 1010000. The registered address is Holborow lodge, Chalder Lane, Sidlesham, Chichester, West Sussex, PO20 7RJ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.

Grants, including grants for the purchase of fixed assets, are recognised as incoming resources when receivable. Where grants are given in relation to a set period which straddles a year end, recognition of an appropriate portion of the grant is deferred.

Income from trading activities is recognised at the point of sale and net of VAT where applicable.

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Exceptions can be made by the Trustees where it is appropriate to do so.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% Straight Line Plant and equipment 20% Reducing Balance Motor vehicles 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
106,003
3,151
Legacies receivable
399,793
-
Grants, including capital grants
5,520
1,250
511,316
4,401
Grants receivableforcore activities
Government grants
-
-
Grants from other charities
-
1,250
Portsmouth Water - Get Water Fit
5,000
-
Other
520
-
5,520
1,250		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
109,154
99,157
6,097
399,793
353,686
-
6,770
21,526
5,200
515,717
474,369
11,297
-
21,026
-
1,250
500
5,200
5,000
520
6,770
21,526
5,200		 Total
2022
£
105,254
353,686
26,726
485,666
-
21,026
5,700
26,726

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

2023 2022
£ £
The Cat and Rabbit Rescue Centre 83,391 67,346

5 Other trading activities

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Fundraising events 22,980 9,962
Shop income 487,836 311,622
Other trading activities 510,816 321,584

6 Investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Interest receivable 12,088 8,105

7 Other income

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Net gain on disposal of tangible fixed assets 1,336 -
Solar Panel income 2,117 2,869
Rental income 6,600 6,200
Other income 1,383 1,128
11,436 10,197

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Raising funds

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Trading costs
Operating charity shops 146,100 102,778
146,100 102,778
Charitable activities
2023 2022
£ £
Staff costs 548,055 424,715
Depreciation and impairment 38,184 34,650
The Cat and Rabbit Rescue Centre 162,923 136,550
749,162 595,915
Share of support costs (see note 10) 128,378 88,556
Share of governance costs (see note 10) 30,624 18,782
908,164 703,253
Analysis by fund
Unrestricted funds 889,528 692,038
Restricted funds 18,636 11,215
908,164 703,253

9 Charitable activities

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Support costs

Support costs
Staff costs
Audit fees
Accountancy
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
128,378
-
-
2,255
-
-
-
28,369
128,378
30,624
128,378
30,624		 2023
£
128,378
2,255
-
28,369
159,002
159,002		 Support
costs
Governance
costs
£
£
88,556
-
-
-
-
2,000
-
16,782
88,556
18,782
88,556
18,782		 2022
£
88,556
-
2,000
16,782
107,338
107,338

Governance costs includes payments to the auditors of £2,255 (2022- £2,000) for audit fees (2022 was an independent examination).

11 Trustees

Ms Louise Martin resigned as trustee on 30 June 2022, during her time as trustee she was remunerated £6,487.50 (2022: £25,250) for her role as financial accountant.

None of the remaining trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

No trustees were reimbursed any expenses during the year (2022- none).

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
41
2023
£
630,683
36,301
9,449
676,433		 2022
Number
32
2022
£
481,003
25,465
6,803
513,271

There were no employees whose annual remuneration was more than £60,000.

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

13 Taxation

The charity is a registered charity and is therefore exempt from corporation tax.

14 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2022
1,442,788
Additions
103,481
Disposals
-
At 31 March 2023
1,546,269
Depreciation and impairment
At 1 April 2022
196,902
Depreciation charged in the year
32,840
Eliminated in respect of disposals
-
At 31 March 2023
229,742
Carrying amount
At 31 March 2023
1,316,527
At 31 March 2022
1,245,884		 Plant and
equipment
Motor vehicles
£
£
71,423
21,758
1,943
-
(1,707)
(1,950)
71,659
19,808
56,933
13,547
3,309
2,035
(1,707)
(1,786)
58,535
13,796
13,124
6,012
14,490
8,213		 Total
£
1,535,969
105,424
(3,657)
1,637,736
267,382
38,184
(3,493)
302,073
1,335,663
1,268,587

15 Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 April 2022 958,907
Additions 5,861
Disposals (426,876)
At 31 March 2023 537,892
Carrying amount
At 31 March 2023 537,892
At 31 March 2022 958,907

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16 Debtors

Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
52,089
6,997
59,086		 2022
£
39,690
2,008
41,698

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
10,135
2,168
19,247
31,550		 2022
£
7,727
1,511
12,921
22,159

Movementinfunds Movementinfunds Movementinfunds Movementinfunds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 Apri12021 resources expended 1 Apri12022 resources expended 31 March 2023
£ £ £ £ £ £ £ £ £
Foster Care 31,196 50 (5,079) - 26,167 1,831 (16,033) - 11,965
BUMP 17,036 - (741) - 16,295 - (655) - 15,640
Lady Josie 1,276 - (821) - 455 - - (455)
Surgery Table & Oximeter - 1,200 - (1,200)
Restraint Cages - 200 (200)
Caellum's Fund - 3,686 - - 3,686 580 - (1,488) 2,778
MBU - 911 - - 911 825 (169) - 1,567
Van - 250 - (250)
Rabbit Arks - 5,000 (4,374) - 626 - (664) 38
Towards Fundraising - - - - - 50 (50)
Gazebos for Fayre - - - - - 150 (150)
Rabbit Accommodation - Specialist - - - - - 450 (421) (29)
Barn - - - - - 515 (493) (22)
-- -- -- -- -- --
49,508 11,297 (11,215) (1,450) 48,140 4,401 (18,635) (1,956) 31,950
-- -- -- -- -- -- -- -- --

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

19
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
1,318,456
17,207
Investments
537,892
-
Current assets/(liabilities)
834,042
14,743
2,690,390
31,950		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
1,335,663
1,251,380
17,207
537,892
958,907
-
848,785
384,729
30,933
2,722,340
2,595,016
48,140		 Total
2022
£
1,268,587
958,907
415,662
2,643,156

20 Events after the reporting date

Charitable Incorporated Organisation

The charity intends to transfer its activities to a Charitable Incorporated Organisation and is currently receiving advice as to how this should be structured. There would be no impact on charities operations as a result of this transfer. The current entity will continue to receive some donations and legacies during this transition period.

155-157 High Street, Selsey

We are approaching the exchange of contract on the property 155-157 High Street, Selsey. The agreed purchase price of the property is £167,500 and is funded in its entirety by the Charity's reserves. The purchase completed in May 2023.

21 Related party transactions

One of the trustees is also a partner of Chichester Vets, which is the veterinary practice used by the Charity. The costs of competing veterinary practices have been obtained to compare the fees, with Chichester Vets remaining the most competitive.

22 Legacies

The charity has been notified of entitlement to 9 legacies prior to the year end which have either not yet been received or only partially received. It is not currently possible to reliably state the value of these legacies due to unknown factors, for example where the charity has a residual interest. For 5 of these legacies it has been possible to estimate the receipts to be in the region of £93,000, however there remains uncertainty over their final value.

CAT AND RABBIT RESCUE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

23 Cash generated from operations 2023 2022
£ £
Surplus for the year 79,184 86,866
Adjustments for:
Investment income recognised in statement of financial activities (12,088) (8,105)
Gain on disposal of tangible fixed assets (1,336) -
Depreciation and impairment of tangible fixed assets 38,184 34,650
Movements in working capital:
(Increase) in debtors (17,388) (26,071)
Increase/(decrease) in creditors 9,391 (140)
Cash generated from operations 95,947 87,200

24 Analysis of changes in net funds

The charity had no debt during the year.

25 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.

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