Charity registration number 1010000 CAT AND RABBIT RESCUE CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 West Sussex Chichester P020 7RJ Auditor SumerAudit Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX
CAT AND RABBIT RESCUE CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance During the year, CRRC rescued 850 and rehomed 832 animals, an increase on previous year. Rehoming activities have continued to improve following the national recovery from the Covid pandemic, but the cost of living crisis has continued to impact activity across all areas of the CRRC operations. The animal rescue and rehoming statistics for 2023-24 are shown in the table below: 2023-2024 Rescues and Rehoming Species Rescued Rehomed Deaths incl Dead on Arrival 25 At centre on 3113124 Fosters (included in rehoming) Catslkittens Guinea Pigs Rabbits Total Comparison 2022-2023 Change on last year 719 48 83 850 821 +3.50/0 704 40 88 832 743 +12% 125 12 31 168 184 OOA 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.. 2023-2024 Animal Medical Treatments Species Vaccinations HealthlDental check ups 795 105 48 Spay & Neuter 243 40 NIA TOTAL Catslkittens Rabbits Guinea Pigs 1.178 2,216 229 48 NIA Total 1,262 283 2,493 As well as the rehoming activities. CRRC has continued with our long established the 'Friends" Sponsorship. and °Neutering" schemes, and we have continued to undertake feral work when needed.
CAT AND RABBIT RESCUE CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 During 2023-2024 In recognition of the need to raise funds outside of donations and legacies we implemented the nexl stage of our retail expansion program during the year. This plan entailed finding and opening charity shops within our localily, enabling us to convert donated goods into usable funds to finan our charitable activities. Our retail expansion program has been successful, and we opened 4 shops during the year wth the final one opened in February 2024. This means that we now operate a total of 9 shops. The final phase of our retail strategy is to explore online sales opportunities. Following the appointment of a fundraising manager to increase our social media presence, we have successfully attracted an increased following via various plafforms. and we are seeing increased awareness from a whole new generation of supporters This year witnessed a full program of fundraising events. In August 2023 we held a successful Summer Fayre. and in November we held our Christmas Fayre. Both events were well attended, however takings, although up on the previous year, were still slightly down on pre-pandemic levels. and this was attributed to the cost of living crisis rather than attendee numbers. During the year we were able to fund a major refurbishment of 'The Barn" which has enabled us to provide much better accommodation for the animals housed there, including providing better quarantining facilities. This facility has a state-of-the-art environmental management system which controls air flow around the facility, reducing the spread of air bome illnesses such as cat flu. 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 ccThmunity. During the year one or of the local supemiarkets 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 nine. Fundraising Regulator The Charity is registered with the Fundraising Regulator and the Code of Fundraising is fvlly 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 OLrtside events is usually manned by volunteers induding Trustees. The Fundraising Manager along wth 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.
CAT AND RABBIT RESCUE CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Complaints No complaints were received by Ihe 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 Sla1 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 publi¢ 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 £2,709,914 {2023-. £2,722,340), consisting of £19,822 restricted funds {2023= £31,950) and unrestricted funds of £2.690,092 {2023.' £2,690,390). Included within charitable funds are £1,480,929 tangible fixed assets (2023.. £1,335,663) which can only be realised by disposing of those tangible assets. Also included within charitable funds are £729,245 of fixed temi investments (2023.. £537,892) which are term deposits due to mature after more than three months. Income for the year at £1,386,946 was £253,498 up on the previous year (2023.. £1,133,448) due to the additional £278k shop income as a result of a full year of the shops opened during 22123 and the additional 3 shops opened part way through 23124 plus a general increase in retail income. We also received some larger one-off donations in the year and increased our fundraising income by setting up a Lottery scheme with Donr and improving on our Summer Fayre income. Interest rates were higher this year resulting in an additional £11k of interest income. This has been offset by receiving less legacies than last year. Expenditure for the year at £1,399.372 was £345.108 up on the previous year (2023.. £1,054,264), this is a result of the additional set up costs for the three new shops during 23124 of £53k, and the additional operation costs for the whole year of the shops opened in 22123 plus the three new shops and overall shop cost increases totalling £246k. Admin and Animal Care staff costs increased by £17k. Animal care costs increased by £20k reflecting the general rise in prices and the higher number of animals through the ntre. Expenditure therefore exeded income by £12,426 for the year (2023.. surplus of £79,184). Policy on reserves As referred to last year, the Charity has updated the reserves policy to estsblish and maintain free reserves at a level sufficient to enable CRRC to continue to deliver its range of SeNiS during periods of lower income and to meet all responsibilities in the case of dosure. This has been set at the level of 6 months average costs based on the coming year's budget giving a totsl of £787k. At the end of the accounting period, the unrestricted fvnds were £2,690k (2023-£2,690k}, of which £1,481 k {2023- £1 ,336k) are invested in fixed assets. This leaves free reserves of £1,209k, which is in line with the policy. 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. The Cat and Rabbit Rescue Centre CIO is a new Charitable Incorporated Organisation, number 1197958. It was registered with the Charity Commission on 17th February 2022 and is govemed by its constitution dated 17th February 2022. The transfer of operations from The Cat and Rabbit Rescue Centre to the Cat and Rabbit Rescue Centre CIO is in progress and is scheduled to complete 0110412025. The rescue operations will continue as usual, and our mission, values and charitable activities will be unaffected.
CAT AND RABBIT RESCUE CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The tru8t88s who served durlng the year and up to the date of slgnature of the ftnanGlal ststements were: Mrs D B Rafter Mlss J Laws Mrs D M Rayner Should the Charlty requlre any new Truslees, they wlll be appoSnted by 8gre8ment of the current Trustees, vAth the phllosophy of the Charitys alms In mind. There Is a fomial procedure In place for the r8crUltmI and appolntment of new Trustees, and this procedure is revlewed annually. Newly appointed Trustees recelve an Induction Pack and training tailored to thelr ne8d8. Organlsatlonal Structure The Board of Trustees provldes the govemance of the Charlty with regard to all expenditure OV8r and above the nornal runnlng of the cenlre. The day to day running ol the Chadty Is ¢8rrled out by the General M8n8ger, who Is as8lsted by 8 m8nagernent team comprislng the Anlmal Care Manager. the Ret811 Manager. the Fundralslng Manager, wlth overslghl acmss all areas from the Flnance Manager. A Flnanclal controls policy18 In place detalllng d818gat8d spending Ilmlts, and this is r8v18W8d annually. TNstee approval16 required for spanding requests that are unbudgeted or fall outslde delegated spendlng Ilmlts. Tha Charlty has a rolllng 3 year kJJslne8s plan whlch18 updated annualty, and the Trustees and management team prapare and agree a budge( together wlth the operattonal and fundralslng prforftles for the followlng 12 months Th8re w8r8 4 trustee meetlngs In the year. The Charity will rely upcm the guldance issued by tha CharltS88 Commi88ion in relation to inductlon and training of TTUStees. Major rl•k8 and management of thoA• rf•k• Inveslmgnls The Trustees conslder that safeguardlng the Investments held by the Charlty are partlculaty Important lo the future activitl8s of th8 Charity. The Tru8t888 have tded to mltlg8te Investment rlsk by uslng numerous bank accounts each Ilmlted where posslble to th8 amount that 18 guaranteed should a bank run Into dmlcultles (currently £85k per bank). Investment rfsk IA under regular r8vl8w by the Trustees. The trustees, report was approved by the Board of Trustees. Mrs D B Rafter Chalmian and Trustee Dat8: ..
CAT AND RABBIT RESCUE CENTRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 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 A¢pted Accounting Practice). The law applicable to charities in England and Vwdles 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= select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent., state whether applicable accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going COnM basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose wth reasonable accuracy al 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 hen 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 2024 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 standa applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting practi>. In our opinion, the financial statements- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance viith the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance wth Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther described in the Auditors sponsIbl1111eS for the audit ol 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 ststements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent 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 concem 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 vthen the financial statements are authorised for issue. Our responsibilities and the responsibilities of the twstees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the infomiation induded in the annual report other than the finala1 statements and our auditor's report thereon. The trustees are responsible for the other infomiation 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 wth Ihe financial statements or our knowledge obtained in the course of the audit, or otheiSe 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 materkgl 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 infomiation, we are required to report that fact. We have nothing to report in Ihis regard. Matters on which we are required to report by exception We have nothing to report in respect of the followng matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion= the information given in the finanual statements is inconsistent in any material respect with the trustees. report., or SLrfficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit.
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 neSSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or eor. In preparing the financial statements, the trustees are responsible for assessing the charity s ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounts'ng unless the trustees either intend to ase cperations, or have no realistic altemative but to do so. Auditorfs 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 th 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 Ihe basis of these financial statements. The extent to which our prOdureS are capable of detecting irregularities, induding fraud, is detsiled below. Our objectives are to obtain reasonable assuran about vthether 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 {UKI will always detect a matenal 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 ststements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- Complian with laws and regulations, our procedures included the following= Obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations,. Obtaining an understanding of the company's policies and prOdureS on fraud risks, including knowledge of any actual, suspected or alleged fraud.. and Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector- specific experience. As a result of these pr0dUreS, we considered the opportunities and incentives that may exist within the company for fraud. We are also required to perform specific procedures to respond to the risk of management OVeIde. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements.. health & safety, employment law and compliance with the UK Companies Act.
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 In addition to the above. our procedures to respond to risks identified included the following= Making enquiries of management about any known or suspected InStanS of non-compliance wth laws and regulations and fraud., Challenging assumptions and judgements made by management in their significant accounting estimates- and Auditing the risk of management override of controls. induding through testing joumal entries and other adjustments for appropriateness. Due to the inherent limitations of an audit. there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance th the ISAS (UK). For instan. the further removed non-compliance is from the events and transactions reflected in the financial statements. the less likely the auditor is to become aware of it or to recognise the non-compliance. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https=Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description fonns part of our auditors report. Use of our report This report is made solely to the charity's trustees, as a tody, in accordan 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. 1211212024 SumerAudit Chartered Accountants Statutory Auditor Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX SumerAudit is a trading name of SumerAuditco Limited Sumer Audit 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 2024 Unrestricted Restricted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 352,295 94,746 828,114 23.439 81.786 6,566 358,861 94,746 828,114 23,439 81.786 511,316 83,391 510,816 12,088 11,436 4,401 515,717 83,391 510,816 12,088 11,436 Total income 1,380.380 6,566 1.386.946 1.129.047 4,401 1,133,448 Expenditure on: Raising funds Charitable activities 271,562 1,096.217 271,562 31,593 1.127.810 146,100 889.528 146.100 908.164 18,636 Total expenditure 1,367,779 31,593 1,399,372 1,035,628 18,636 1,054,264 Net incomel(expenditure) 12,601 (25,027) (12,426) 93,419 (14,235) 79,184 Transfers beeen funds (12.899) 12,899 1.955 (1,955) Net movement in funds 11 (298) (12,128) (12,426) 95,374 (16,190) 79,184 Reconciliation of funds: Fund balances at 1 April 2023 2,690.390 31,950 2.722.340 2,595,016 48,140 2,643,156 Fund balances at 31 March 2024 2,690,092 19,822 2,709,914 2,690,390 31,950 2,722,340 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 10-
CAT AND RABBIT RESCUE CENTRE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Flxed assets Tangible a&%els Investments 15 16 1.480,929 729.245 1,335,663 537.892 Current as50ts Stocks Debtors Cash at bank and in hand 2210,174 1,873,555 17 18 154,633 378,846 59.086 821.249 Creditor5: amounts falllng due vAthln one year 540,284 19 880.335 (40.544) {31,550) Net currnnt assets 499.740 848.785 Total assets less current liabilitles 2,709,914 2.722.340 Net assets excluding penslon Ilablltty 2,709,914 2,722,340 The funds of the chartty Restiicted income funds Unr8stricted funds 21 19,822 2,690.092 31.950 2,690,390 2,709.914 2.722.340 Mrs D B Rafter Chalmian and Trustee 11
CAT AND RABBIT RESCUE CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash (absorbed by)Igenerated from operations (89,847) 95,947 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment income received (184.642) (105.424) 1,500 (5,861) 426,876 12,088 (191,353) 23.439 Net cash (used in)Igenerated from investing activities (352.556) 329.179 Net cash used in financing activities Net {decrease)lincrease in cash and cash equivalents (442,403) 425,126 Cash and cash equivalents at beginning of year 821.249 396.123 Cash and cash equivalents at end of year 378.846 821.249 12-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Cat and Rabbit Rescue Centre is an unincorporated Charity, registered wth the Charity Commission number 1010000. The registered address is Holborow lodge, Chalder Lane, Sidlesham, Chichester, West Sussex, P020 7RJ. 1.1 Accounting convention The financial statements have been prepared in accordance viith the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. 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 Concem Al the time of approving the financial statements, the trustees have a reasonable expectation thal the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trLStees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discrets'on of the trustees in furtheran of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors 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 perfomiance 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 reIpt or otherwise if the charity has been notified of an impending dstribution, the amount is known, and receipt is expected. Assets for distribution are recognised only v4hen 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. induding grants for the purchase of fixed assets, are recognised as incoming resources wlEn receivable. Vvhere grants are given in relation to a set period vthi¢h 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. 13-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 activty. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributatAe 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 beeen those activities on a basis consistenl 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 impaimient 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 Plant and equipment Motor vehicles 20A Straigm Line 200A Reducing Balan 250A Reducing Balan The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial ath'vities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incued. 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 IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.9 Stocks Stocks are staled at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, vthere applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replament cost and cost. Net realisable value is the estimated selling Pri less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.10 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. 14-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.11 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 setue the liability simultaneously. 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 dassified 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. 1.12 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. 1.13 Retirement benefits Payments to defined contribution rets"rement benefit schemes are charged as an expense as they fall due. 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 (mly that period, or in the period of the revision and future periods where the revision affects both current and future periods. 15-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies receivable Grants, including capital grants 124,278 224.517 1,293 125,571 224,517 106,003 399,793 3,151 109,154 399,793 3.500 5,273 8.773 5.520 1,250 6.770 352,295 6,566 358,861 511,316 4,401 515,717 Grants receivable for core activities Grants from other charities Portsmouth Water- Get Water Fit other 1.000 5,273 6.273 1,250 1,250 2,500 2,500 5,000 520 5,000 520 3,500 5,273 8,773 5,520 1,250 6,770 Income from charitable activities Unrestricted funds 2024 UntrICted funds 2023 The Cat and Rabbit Rescue Centre 94,746 83,391 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Fundraising events Shop income 34,535 793,579 22.980 487.836 other trading activities 828,114 510,816 16-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 23,439 12,088 Other income Unrestricted Unrestricted funds funds 2024 2023 Net gain on disposal of tangible fixed assets Solar Panel income Rental income Other income 1,336 2,117 6,600 1,383 2,930 7,601 71,255 81,786 11,436 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Tradin costs Operating charity shops 271,562 146.100 271,562 146,100 17-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable activites 2024 Charitable activites 2023 Direct costs Staff costs Depreciation and impainnent The Cat and Rabbit Rescue Centre 733,272 39,376 196,073 548,055 38,184 162.923 968,721 749.162 sha of support and governance costs (see note 10) Support Governan 134,924 24,165 128,378 30,624 1,127,810 908,164 Analysis by fund Unrestricted funds Restricted ndS 1,096,217 31,593 889,528 18,636 1.127,810 908.164 10 Support costs allocated to activities 2024 2023 Staff costs Governan costs 134,925 24,164 128,378 30,624 159,089 159,002 Analysed between: Charitable activites 159.089 159.002 11 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Lossl(profit) on disposal of tangible fixed assets 6,895 39,376 2,255 38,184 {1,336) 18-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Trustees None of the trustees (or any persons connected yth them) received any remuneration or benefits from the charity during the year. No trustees were reimbursed any expenses during the year {2023- none). 13 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 51 41 Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 807,079 48,109 13,009 630,683 36,301 9,449 868,197 676,433 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows" 2024 2023 Aggregate compensation 118,709 109,107 14 Taxation The charity is a registered charity and is therefore exempt from ¢orwration tax. 19-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible fixed assets Freehold land and buildings Plant and equipment Motor vehicles Total Cost At 1 April 2023 Additions Disposals 1.546,269 184,642 71,660 19,808 1,637.737 184,642 (334) (334) At 31 March 2024 1,730,911 71,326 19,808 1,822,045 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 229,742 35.260 58,536 2,613 (334) 13,796 1,503 302.074 39.376 (334) At 31 March 2024 265,002 60,815 15,299 341,116 Carrying amount At 31 March 2024 1,465,909 10,511 4,509 1,480,929 At 31 March 2023 1,316,527 13,124 6,012 1,335,663 16 Fixed asset investments Unlisted investments Cost or valuation At 1 April 2023 Additions 537.892 191.353 At 31 March 2024 729.245 Carrying amount At 31 March 2024 729,245 At 31 March 2023 537,892 17 Stocks 2024 2023 Finished goods and goods for resale 6,805 -20-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 142,904 11,729 52,089 6,997 154,633 59,086 19 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 12,501 3,134 24,909 10,135 2,168 19,247 40,544 31,550 20 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 13.009 9.449 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 21
O)*OOvf ro ro Ln N ¢5) 000
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 2.690,390 1,380.380 (1,367,779) (12,899) 2,690,092 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds 2,595,016 1,129,047 (1,035,628) 1,955 2,690,390 23 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl{liabilities) 1,464.535 729.245 496.312 16,394 1,480,929 729,245 499,740 3,428 2,690.092 19.822 2,709.914 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current assetsl(liabilities) 1,318.456 537.892 834.042 17.207 1,335.663 537.892 848.785 14.743 2,690,390 31,950 2,722,340 -24-
CAT AND RABBIT RESCUE CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Operating lease commitments Lessee At the reporting end date the charity had outstanding MmitMentS for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2024 2023 Within one year Between two and five years In over five years 198.563 616,546 140,000 84.181 259,468 13,295 955,109 356,944 25 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 oblained to compare the fees, with Chichester Vets remaining the most competitive. The total fees paid to Chichester Vets, including VAT, was £44,922, {2023: £30.336}. 26 Legacies The charity has been notified of entitlement to 15 legacies prior to the year end which have either not yel 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 3 of these legacies it has been possible to estimate the receipts to be in the region of £22,000, however there remains uncertainty over their final value. 27 Cash generated from operations 2024 2023 (Deficit)Isurpus for the year (12,426) 79,184 Adjustments for= Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets (23,439) {12,088) {1,336) 38,184 39,376 Movements in working capital.. (Increase} in stocks (Increase} in debtors Increase in creditors {6.805) {95.547) 8.994 {17.388) 9.391 Cash {absorbed by)Igenerated from operations (89,847) 95,947 28 Analysis of changes in net funds The charity had no material debt during the year. -25-