Charity registration number 1053092
EPSOM CANINE RESCUE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
EPSOM CANINE RESCUE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms N A Weeks-Taylor Mr S A Taylor
Charity number Independent examiner
1053092 Steven G. Eddie 333 Chester Road Sutton Coldfield West Midlands B73 5BL
EPSOM CANINE RESCUE
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
EPSOM CANINE RESCUE
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report and financial statements for the year ended 31 December 2021.
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 '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
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.
Achievements and performance
Financial review
It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.
The Trustees who served during the year and up to the date of signature of the financial statements were: Ms N A Weeks-Taylor Mr S A Taylor
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to 28 day's purchases, based on the average daily amount invoiced by suppliers during the year.
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EPSOM CANINE RESCUE
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees report was approved by the Board of Trustees.
Ms N A Weeks-Taylor Trustee
16 October 2022
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EPSOM CANINE RESCUE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EPSOM CANINE RESCUE
I report to the Trustees on my examination of the financial statements of EPSOM CANINE RESCUE for the year ended 31 December 2021.
Responsibilities and basis of report
As the Trustees of the you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the ’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Steven G. Eddie
333 Chester Road Sutton Coldfield West Midlands B73 5BL
Dated: 16 October 2022
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EPSOM CANINE RESCUE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 41,516 | 48,608 |
| Charitable activities | 4 | 8,245 | 3,883 |
| Total income | 49,761 | 52,491 | |
| Expenditure on: | |||
| Raising funds | 5 | 1,211 | 960 |
| Charitable activities | 6 | 55,561 | 41,756 |
| Total expenditure | 56,772 | 42,716 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (7,011) | 9,775 | |
| Fund balances at 1 January 2021 | 68,518 | 58,743 | |
| Fund balances at 31 December 2021 | 61,507 | 68,518 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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EPSOM CANINE RESCUE
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2021 £ - 45,849 45,849 (6,789) |
£ 22,447 39,060 61,507 61,507 61,507 |
2020 £ 1 55,191 55,192 (5,697) |
£ 19,023 49,495 |
|---|---|---|---|---|
| 68,518 | ||||
| 68,518 | ||||
| 68,518 |
The financial statements were approved by the Trustees on 16 October 2022
Ms N A Weeks-Taylor Trustee
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the '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 is a Public Benefit Entity as defined by FRS 102.
The has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .
1.4 Income
Income is recognised when the 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 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 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.
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Plant and equipment 10% on reducing balance Fixtures and fittings 20% on reducing balance Motor vehicles 25% on 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 Impairment of fixed assets
At each reporting end date, the 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).
1.8 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.
1.9 Financial instruments
The 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 's balance sheet when the 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.
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.
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the ’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.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 25,266 | 46,058 |
| Legacies receivable | 13,750 | - |
| Fundraising events and sponsorship | 2,500 | 2,550 |
| 41,516 | 48,608 |
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
4 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| Income | Income | |
| Heading 1 | Heading 1 | |
| 2021 | 2020 | |
| £ | £ | |
| Sales within charitable activities | 7,785 | 3,233 |
| Other income | 460 | 650 |
| 8,245 | 3,883 |
5 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Fundraising and publicity | ||
| Seeking donations, grants and legacies | 1,211 | 960 |
| Fundraising and publicity | 1,211 | 960 |
| 1,211 | 960 |
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
6 Charitable activities
| Charitable Expenditure Heading 1 Charitable Expenditure Heading 2 2021 2021 £ £ Depreciation - 4,076 Telephone 202 - Postage and Stationery 139 - Kennel Fees 4,744 - Vet Fees 12,462 - Dog Welfare 19,787 - Foster Food 194 - Dog Behaviour and Training 4,526 - Kennel Maintenance 5,114 - Storage of Event Equipment 1,146 - Just Giving Costs 1,794 - Insurance 977 - Accountancy 400 - 51,485 4,076 51,485 4,076 |
Total 2021 Charitable Expenditure Heading 1 Charitable Expenditure Heading 2 2020 2020 £ £ £ 4,076 - 2,551 202 268 - 139 183 - 4,744 2,852 - 12,462 9,480 - 19,787 17,272 - 194 907 - 4,526 3,850 - 5,114 1,131 - 1,146 1,499 - 1,794 538 - 977 825 - 400 400 - 55,561 39,205 2,551 55,561 39,205 2,551 |
Total 2020 £ 2,551 268 183 2,852 9,480 17,272 907 3,850 1,131 1,499 538 825 400 |
|---|---|---|
| 41,756 | ||
| 41,756 |
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the during the year.
8 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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EPSOM CANINE RESCUE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 9 Tangible fixed assets Plant and equipment Fixtures and fittings Motor vehicles £ £ £ Cost At 1 January 2021 20,764 3,348 6,205 Additions - - 7,500 At 31 December 2021 20,764 3,348 13,705 Depreciation and impairment At 1 January 2021 3,945 2,707 4,642 Depreciation charged in the year 1,682 128 2,266 At 31 December 2021 5,627 2,835 6,908 Carrying amount At 31 December 2021 15,137 513 6,797 At 31 December 2020 16,819 641 1,563 |
Total £ 30,317 7,500 |
|---|---|
| 37,817 | |
| 11,294 4,076 |
|
| 15,370 | |
| 22,447 | |
| 19,023 |
| 10 Debtors Amounts falling due within one year: Trade debtors 11 Creditors: amounts falling due within one year Other taxation and social security Trade creditors |
2021 £ - 2021 £ (1,751) 8,540 6,789 |
2020 £ 1 |
|---|---|---|
| 2020 £ 8 5,689 |
||
| 5,697 |
12 Retirement benefit schemes
The operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the in an independently administered fund.
13 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
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