REGISTERED CHARITY NUMBER: 1015098
VENTURE FARM CAT RESCUE
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
VENTURE FARM CAT RESCUE
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
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| Trustees' report | 1-2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-8 |
VENTURE FARM CAT RESCUE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
Administrative details
Registered charity number:
1015098
Principal address:
Venture Farm Thuxton Road Mattishall Dereham NR20 3LB
Trustees:
Carol Anne Lai (Chair) Hazel Hatton (Treasurer) Sylvia Hopwood Judith O'Brien Debi Line Kleo Fanthorpe (resigned 25 September 2020) Elizabeth Ward Antoinette Ford (resigned 29 January 2021)
Independent examiner
Mrs Alicia Howell BSc ACA Chartered Accountant 13 Ipswich Grove Norwich NR2 2LU
Structure, governance and management
The charity is run by a board of trustees who meet regularly during the year.
The charity is an unincorporated body governed by a written trust deed dated 2 September 1992 and amended by supplemental deeds dated 21 March 1997, 11 February 2007 and 8 August 2008.
Objectives and aims
The charity was founded in 1992 to rescue, care for and re-home unwanted animals. It achieves this by taking in unwanted animals, providing food and medical care and a safe environment. The charity re-homes the animals where possible and fundraises to meet the costs of care provided including running a charity shop.
The trustees believe that the trusts actions demonstate it's fulfilment of it's public benefit obligations.
The charity has no paid staff and relies on volunteers to carry out the animal care and fundraising and awareness work.
Page 1
VENTURE FARM CAT RESCUE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance
The trustees have continued to work closely together to meet the objects of the charity and raise awareness.
The charity continues to re-home as many animals as possible to suitable homes and provide ongoing care to those for whom a suitable home could not be found.
Financial review
The charity did not receive any legacies this year but was able to build a kitten room using reserves and attend to other maintenance work required in the year.
Despite the income falling below £250,000 the charity has decided to continue to prepare the accounts on an accruals basis.
The surplus for the year was £27,509 (2020: £195,145), this included grant income of £29,907 relating to the Covid 19 pandemic.
The level of funds puts the charity in a strong position going forward but it does rely mainly on fundraising and donations to meet it's operating costs and will continue to need to do so.
Reserves policy
The trustees are conscious of the need to maintain a level of reserves to cover an ongoing programme of repairs and replacement of equipment and to cover staff and running costs in the event of this being required to keep the shelter running. The trustees consider that reserves of £50,000 would be sufficient and as at 31 March 2021 the reserves were in excess of this figure.
Statement of trustees responsibilities
Charity law 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 period. In preparing these financial statements the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) Observe the methods and principles in the Charities SORP;
c) Make judgements and estimates that are reasonable and prudent;
d) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping 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. 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.
This report was approved by the trustees on and signed on it's behalf by
…................................................ Carol Anne Lai, Chair
Page 2
VENTURE FARM CAT RESCUE
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2021
Independent Examiner’s Report to the Trustees
I report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 3 to 8.
Respective responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 145 of the 2011 Act);
-
follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and
-
state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the the accounts.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act: and
-
to prepare accounts which accord with the accounting records and comply with the
-
accounting requirements of the 2011 Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of accounts to be reached.
Mrs Alicia Howell BSc ACA Chartered Accountant 13 Ipswich Close Norwich NR2 2LU
Page 3
VENTURE FARM CAT RESUCE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 31 MARCH 2021
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2021 2020
Unrestricted Unrestricted
funds funds
Notes £ £
Incoming resources
Income and endowments from:
Donations and legacies 3 126,108 246,871
Other trading activities 4 29,619 46,905
Investments 5 3,645 3,815
Total 159,372 297,591
Resources expended
Expenditure on:
Raising funds 6 9,654 12,028
Charitable activities 122,209 90,418
Total 131,863 102,446
Net income 27,509 195,145
Reconciliation of funds:
Total funds brought forward 786,959 591,814
Total funds carried forward 814,468 786,959
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Page 4
VENTURE FARM CAT RESUCE
BALANCE SHEET
FOR THE YEAR ENDING 31 MARCH 2021
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2021 2020
Notes £ £
Fixed assets
Tangible assets 7 624,922 616,182
Current assets
Stocks 8 3,280 3,326
Debtors 9 8,271 5,550
Cash at bank and in hand 185,558 165,168
197,109 174,044
Creditors: amounts falling due within one
year 10 (7,563) (3,267)
Net current assets/(liabilities) 189,546 170,777
Total assets less current liabilities 814,468 786,959
Creditors: amounts falling due after one
year - -
Total net assets 814,468 786,959
Funds of the Charity
Unrestricted funds 814,468 786,959
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The financial statements were approved by the Board of Trustees on and signed on its behalf by:
…........................................................
Carol Anne Lai, Chair
Page 5
VENTURE FARM CAT RESUCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2021
1 Accounting policies
1.1 Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention and follow the recommendations in the Statement of Recommended Practice (FRS102 Charities SORP effective January 2019), the Charities Act 2011 and applicable accounting standards.
The charity constitutes a public benefit entity as defined by FRS 102.
The charity has chosen to continue to prepare the accounts on an accruals basis.
1.2 Incoming resources
Voluntary income is received by way of donations or gifts and is included in full in the Statement of Financial Activities when receivable. Pecuniary legacies are recognised when they are received. Residuary legacies are recognised at the earlier of receipt or agreement of the estate accounts.
Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.
Income from investments and grant income is included in the year in which it is receivable.
1.3 Resources expended
Expenditure is recognised when a liability is incurred.
-
Costs of generating funds are those costs incurred in attracting voluntary income and those those incurred in activities that raise funds
-
Charitable activities include expenditure associated with the operation of the animal sanctuary and mianly relate to the upkeep and housing of the animals.
1.4 Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost of each asset over it's expected useful life, as follows:
Fixtures and fittings 15% reducing balance Motor vehicles 25% reducing balance
1.5 Taxation
The charity is exempt from tax on it's charitable activities
1.6 Fund accounting
Funds held by the chairty are either:
-
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees
-
Designated funds - these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.
-
Restricted funds - these are funds that can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The charity currently only has unrestricted funds.
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VENTURE FARM CAT RESUCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2021
2 Movement in funds
Previous reporting period
| Fund balances brought forward £ Unrestricted funds General fund 591,814 Current reporting period Fund balances brought forward £ Unrestricted funds General fund 786,959 3 Donations and legacies Donations and gifts Gift Aid Legacies Grant income 4 Other trading activities Fundraising events Shop income 5 Investment income Interest income Rental income 6 Costs of generating Funds Operating charity shops Fundraising expenditure Professional fees |
Incoming resources £ 297,591 Incoming resources £ 159,372 |
Resources expended £ (102,446) Resources expended £ (131,863) 2021 £ 93,480 2,721 - 29,907 126,108 2021 £ 1,743 27,876 29,619 13 3,632 3,645 9,459 195 - 9,654 |
Fund balances carried forward £ 786,959 Fund balances carried forward £ 814,468 2020 £ 70,615 5,550 170,706 - 246,871 2020 £ 6,581 40,324 46,905 194 3,621 3,815 9,855 733 1,440 12,028 |
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Page 7
VENTURE FARM CAT RESUCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2021
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7 Tangible fixed assets
Plant and Land and Total
machinery buildings
£ £ £
Cost
As at 1 April 2020 8,599 609,788 618,387
Additions - 10,194 10,194
- - -
Disposals
At 31 March 2021 8,599 619,982 628,581
Depreciation
-
As at 1 April 2020 2,205 2,205
-
Charge for the year 1,454 1,454
- - -
Eliminated on disposals
At 31 March 2021 3,659 - 3,659
Net book value
At 31 March 2021 4,940 619,982 624,922
At 31 March 2020 6,394 609,788 616,182
8 Stocks 2021 2020
£ £
Charitable activities (for distribution)
Animal requirements 3,280 3,326
3,280 3,326
9 Debtors 2021 2020
£ £
Other debtors 8,271 5,550
8,271 5,550
10 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 7,563 3,267
7,563 3,267
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11 Related Party Transaction
An onsite residence at the Sanctuary site was rented to the Charity's administrator Ms Lai. During the year a total of £3,632 (2020: £3,621) of rent was received. There was no amount outstanding at the balance sheet date (2020: £nil).
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VENTURE FARM CAT RESUCE DETAILED STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDING 31 MARCH 2021
UNRESTRICTED FUNDS
| Income General donations and membership Legacies Gift Aid Grant income Total donations Collections & Events Shop income Rental income Interest Total other Expenditure Veterinary Expenses Animal requirements (inc litter) Farm - rates Building & Repairs Shop - Rent Shop -rates Light and heat Water Phone Stationery & Postage Insurance Vehicle Expenses Sundry Fundraising expenses Professional fees Bank charges Depreciation Profit on disposal Net (deficit) / surplus for year Dereham shop accounts Income (including ragman) Expenses Rent Rates and water Insurance Light and heat Telephone |
£ £ 93,480 - 2,721 29,907 126,108 1,743 27,876 3,632 13 33,264 159,372 47,853 21,958 1,136 40,524 8,000 - 3,834 506 1,486 357 2,255 1,668 235 195 - 402 1,454 - (131,863) 27,509 27,876 8,000 203 342 438 476 (9,459) 18,417 2021 |
£ £ 70,615 170,706 5,550 - 246,871 6,581 40,324 3,621 194 50,720 297,591 45,746 28,241 977 4,765 8,000 432 4,222 508 1,389 597 2,544 1,264 54 733 1,440 379 1,905 (750) (102,446) 195,145 40,324 8,000 567 290 468 530 (9,855) 30,469 2020 |
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