**REGISTERED CHARITY NUMBER: 1015098**
## **VENTURE FARM CAT RESCUE**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **VENTURE FARM CAT RESCUE**
## **CONTENTS**
## **FOR THE YEAR ENDED 31 MARCH 2024**
||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 2024**
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) Judith O'Brien Elizabeth Ward Janice Stubbs Meryl Marshall
## **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 2024**
## **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 £61,946 (2023: deficit of £24,947) which includes legacies received of £33,971.
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 2024 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
Page 2
## **VENTURE FARM CAT RESCUE**
## **INDEPENDENT EXAMINER'S REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2024**
## **Independent Examiner’s Report to the Trustees**
I report on the accounts of the Trust for the year ended 31 March 2024, 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:
1. 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
2. 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 2024**
|**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|**2024**
**2023**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**£**
**£**
122,925
100,491
56,164
50,225
5,659
5,000
184,748
155,716
8,637
11,437
238,057
169,226
246,694
180,663
(61,946)
(24,947)
1,009,465
1,034,412
947,519
1,009,465|
|---|---|
Page 4
## **VENTURE FARM CAT RESUCE**
## **BALANCE SHEET**
## **FOR THE YEAR ENDING 31 MARCH 2024**
|**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|**2024**
**£**
620,736
3,750
7,600
327,162
338,512
(11,729)
326,783
947,519
-
947,519
947,519|**2023**
**£**
620,869
3,831
15,425
378,962
398,218
(9,622)
388,596
1,009,465
-
1,009,465
1,009,465|**2023**
**£**
620,869
3,831
15,425
378,962
398,218
(9,622)
388,596
1,009,465
-
1,009,465
1,009,465|
|---|---|---|---|
|||||
||||1,009,465
-|
||||1,009,465|
||||1,009,465|
The financial statements were approved by the Board of Trustees on and signed on its behalf by:
…................................................ …................................................ Sylvia Hopwood Hazel Hatton
Page 5
**VENTURE FARM CAT RESUCE**
**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDING 31 MARCH 2024**
## **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.
Page 6
## **VENTURE FARM CAT RESUCE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDING 31 MARCH 2024**
## **2 Movement in funds**
## **Previous reporting period**
|**Previous reporting period**||||
|---|---|---|---|
|Fund
balances
brought
forward
£
**Unrestricted funds**
General fund
1,034,412
**Current reporting period**
Fund
balances
brought
forward
£
**Unrestricted funds**
General fund
1,009,465
**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
£
155,716
Incoming
resources
£
184,748|Resources
expended
£
(180,663)
Resources
expended
£
(246,694)
**2024**
**£**
80,988
7,966
33,971
-
122,925
**2024**
**£**
5,351
50,813
56,164
5,547
112
5,659
8,000
216
421
8,637|Fund
balances
carried
forward
£
1,009,465|
||||Fund
balances
carried
forward
£
947,519|
||||**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|
Page 7
## **VENTURE FARM CAT RESUCE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDING 31 MARCH 2024**
|**7 Tangible fixed assets**
**Cost**
As at 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
As at 1 April 2023
Charge for the year
Eliminated on disposals
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**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**
**£**
2,000
-
-
2,000
1,113
133
-
1,246
754
887|**Land and**
**buildings**
**£**
619,982
-
-
619,982
-
-
-
-
619,982
619,982
**2024**
**£**
3,750
3,750
**2024**
**£**
7,600
7,600
**2024**
**£**
7,729
4,000
11,729|**Total**
**£**
621,982
-
-|
|---|---|---|---|
||||621,982|
||||1,113
133
-|
||||1,246|
||||620,736|
||||620,869|
||||**2023**
**£**
3,831|
||||3,831|
||||**2023**
**£**
15,425|
||||15,425|
||||**2023**
**£**
7,622
2,000|
||||9,622|
Page 8