REGISTERED CHARITY NUMBER: 1015098
VENTURE FARM CAT RESCUE
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
VENTURE FARM CAT RESCUE
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| 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 2023
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2023. 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:
Sylvia Hopwood (Chair) Hazel Hatton (Treasurer) Carol Anne Lai (resigned 2 September 2022) Judith O'Brien Elizabeth Ward Janice Stubbs Meryl Marshall (appointed 23 October 2022)
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.
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VENTURE FARM CAT RESCUE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
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 deficit for the year was £24,947 (2022: surplus of £219,944) which includes legacies received of £30,584.
As a result of these and previous legacies the charity has continued to attend to ongoing repair work required at the sanctuary and has retained funds to put towards future building and maintenance projects.
The accounts have continued to be prepared on an accruals basis.
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 2023 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
…................................................ Sylvia Hopwood
…................................................ Hazel Hatton
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VENTURE FARM CAT RESCUE
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Independent Examiner’s Report to the Trustees
I report on the accounts of the Trust for the year ended 31 March 2023, 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 2023
| Notes Incoming resources Income and endowments from: Donations and legacies 3 Other trading activities 4 Investments 5 Total Resources expended Expenditure on: Raising funds 6 Charitable activities Total Net income Reconciliation of funds: Total funds brought forward Total funds carried forward |
2023 2022 Unrestricted funds Unrestricted funds £ £ 100,491 316,658 50,225 48,291 5,000 4,045 155,716 368,994 11,437 10,707 169,226 138,343 180,663 149,050 (24,947) 219,944 1,034,412 814,468 1,009,465 1,034,412 |
|---|---|
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VENTURE FARM CAT RESUCE
BALANCE SHEET
FOR THE YEAR ENDING 31 MARCH 2023
| Notes Fixed assets Tangible assets 7 Current assets Stocks 8 Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Total net assets Funds of the Charity Unrestricted funds |
2023 £ 620,869 3,831 15,425 378,962 398,218 (9,622) 388,596 1,009,465 - 1,009,465 1,009,465 |
2022 £ 623,810 3,280 8,841 403,820 415,941 (5,339) 410,602 1,034,412 - 1,034,412 1,034,412 |
2022 £ 623,810 3,280 8,841 403,820 415,941 (5,339) 410,602 1,034,412 - 1,034,412 1,034,412 |
|---|---|---|---|
| 1,034,412 - |
|||
| 1,034,412 | |||
| 1,034,412 |
The financial statements were approved by the Board of Trustees on and signed on its behalf by:
…................................................ …................................................ Sylvia Hopwood Hazel Hatton
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VENTURE FARM CAT RESUCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2023
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 charity 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 2023
2 Movement in funds
Previous reporting period
| Previous reporting period | |||
|---|---|---|---|
| Fund balances brought forward £ Unrestricted funds General fund 814,468 Current reporting period Fund balances brought forward £ Unrestricted funds General fund 1,034,412 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 £ 368,994 Incoming resources £ 155,716 |
Resources expended £ (149,050) Resources expended £ (180,663) 2023 £ 63,323 6,584 30,584 - 100,491 2023 £ 4,693 45,532 50,225 1,515 3,485 5,000 10,844 226 367 11,437 |
Fund balances carried forward £ 1,034,412 |
| Fund balances carried forward £ 1,009,465 |
|||
| 2022 £ 119,581 14,490 182,587 - |
|||
| 316,658 | |||
| 2022 £ 2,337 45,954 |
|||
| 48,291 | |||
| 348 3,698 |
|||
| 4,045 | |||
| 10,139 216 352 |
|||
| 10,707 |
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VENTURE FARM CAT RESUCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2023
| 7 Tangible fixed assets Cost As at 1 April 2022 Additions Disposals At 31 March 2023 Depreciation As at 1 April 2022 Charge for the year Eliminated on disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 8 Stocks Charitable activities (for distribution) Animal requirements 9 Debtors Other debtors 10 Creditors: amounts falling due within one year Trade creditors Accruals |
Plant and machinery £ 8,599 - (6,599) 2,000 4,771 157 (3,815) 1,113 887 3,828 |
Land and buildings £ 619,982 - 619,982 - - - - 619,982 619,982 2023 £ 3,831 3,831 2023 £ 15,425 15,425 2023 £ 7,622 2,000 9,622 |
Total £ 628,581 0 (6,599) |
|---|---|---|---|
| 621,982 | |||
| 4,771 157 (3,815) |
|||
| 1,113 | |||
| 620,869 | |||
| 623,810 | |||
| 2022 £ 3,280 |
|||
| 3,280 | |||
| 2022 £ 8,841 |
|||
| 8,841 | |||
| 2022 £ 5,339 - |
|||
| 5,339 |
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 £3,485 (2022: £3,698) of rent was received. There was no amount outstanding at the balance sheet date.
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