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← Border Collie Trust Great Britain

2025-03-31-accounts

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Registered number: 03159703 Charity number: 1053585

Border Collie Trust (Great Britain)

Trustees' Report and Financial Statements

For the Year Ended 31 March 2025

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1 - 2
Trustees' Report 3 - 11
Independent Auditors' Report on the Financial Statements 12 - 15
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Charity Balance Sheet 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 - 39

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2025

Trustees Mr K A Holden,Chair
Mr B Wilkes,Vice Chair
Miss R Corden
Mr M Baker(resigned 22 September 2024)
Mrs S Wilkes
Mr R Huggett
Mrs D Beddows(deceased January2025)
Mrs P M Ball
Mrs M Gosling
Mrs J Hoult(appointed 18 June 2024,resigned 14 September 2025)
Dr S Rowell(appointed 17 November 2024)
Ms R Coles(appointed 9 March 2025)
Company registered
number
03159703
Charity registered number
1053585
Registered office
Rescue Centre
Heathway
Colton
Rugeley
Staffordshire
WS15 3LY
Company secretary
Mr B Wilkes
Independent auditors
Dains Audit Limited
2 Chamberlain Square
Birmingham
B3 3AX

Page 1

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers (continued) For the Year Ended 31 March 2025

Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ NatWest Bank Plc 1 Hardman Boulevard Manchester M3 3AQ Nationwide Building Society Nationwide House Pipers Way Swindon Wiltshire SN38 1NW Solicitors Pickering and Butters Canberra House Market Square Rugeley Staffordshire WS15 2BN

Page 2

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report

For the Year Ended 31 March 2025

The Trustees present their annual report together with the audited financial statements of the Border Collie Trust (Great Britain) for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Structure, governance and management

a. Governing Document

To rescue and provide care and shelter for lost, abandoned, neglected and ill-treated dogs and with particular regard to dogs of the Border Collie breed and other working dogs and to find new homes for such animals wherever possible. The company was established under a Memorandum of Association (revised in 2009) which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

b. Recruitment and Appointment of the Board of Management

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Board of Management. Under the requirements of the Memorandum and Articles of Association the members of the Board of Management may be appointed for a fixed term as specified in the resolution by which they are appointed.

Trustees Mrs S. Wilkes and Mrs M. Gosling were due for re-election in 2024. Both were prepared to stand for a further period of three years and were duly re-elected.

The charity’s work focuses on the re-homing of rescued collies. The Board of Management seeks to ensure that the well-being of these dogs is appropriately reflected through the diversity of the trustee body. To enhance the potential pool of Trustees, the charity has sought to identify suitable supporters who would be willing to become members of the Trust and by using their own experience assist the charity.

The more traditional business skills are well represented on the Board of Management. In an effort to maintain this broad skill mix, members of the Board of Management are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the Board of Management.

Page 3

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Structure, governance and management (continued)

c. Trustee Induction and Training

Most Trustees are already familiar with the practical work of the charity having been encouraged to assist in projects to promote the charity. Additionally, potential new Trustees are invited by the chairman to observe the day-to-day operation of the charity to familiarise them with the context within which it operates. Prior to being appointed a Trustee the following subjects are explained to prospective Trustees:

The Charity Commission’s guide “the Essential Trustee” is distributed to all new Trustees along with The Memorandum of Association and Articles of Association and the latest financial statements.

d. Organisational Structure

Border Collie Trust (Great Britain) has a Board of Management of up to 12 members who meet at intervals throughout the year and are responsible for the strategic direction and policy of the charity. During this financial year meetings have been both face to face as well as online. At the year end the Committee had ten members from a variety of backgrounds relevant to the work of the charity.

e. Key Management Personnel

The Directors consider the Board of Management, who are the Charity’s Trustees, and the Senior Management Team comprise the key management personnel of the charity in charge of running and operating the charity on a day-today basis.

Trustee, Miss R Corden is employed by the charity as Kennel Manager to provide specific services to the charity, these services are above normal trustees duties. Her salary is reviewed annually and set by reference to similar roles in the rehoming sector. This appointment is permitted by the charity's Memorandum of Association sections 5(i) (a) (b) (c) (d) (e) and (f). The total cost to the charity in respect of Miss Corden’s employment was £33,590 (2024 – £30,794).

All other Directors give of their time freely and no other Director received any remuneration in the year. Details of Director’s expenses and related party transactions are disclosed in note 13 to the accounts.

A scheme of delegation is in place and day-to-day responsibility for the provision of the services rest with the Senior Management Team. The Chair is responsible for ensuring that the charity delivers an acceptable standard of service. The Kennel Manager has responsibility for the day-to-day operational management of the Centre, individual supervision of the staff team and ensuring that the team continues to develop their skills and working practices in line with good practice.

Page 4

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Structure, governance and management (continued)

f. Subsidiary Company

The Charity has a wholly owned trading subsidiary, BCT Enterprises Limited, registered company number 03232507. The transactions of this subsidiary are included within the consolidated financial statements.

g. Risk Management

The Board of Management has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimized by the implementation of procedures for authorisation of all major transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre.

Objectives and activities

a. Policies and objectives

The company’s objectives and principal activities are:

The main objectives are to rescue and provide care and shelter for lost, abandoned, neglected and ill-treated dogs and with particular regard to dogs of the Border Collie breed and other working dogs and to find new homes for such animals wherever possible. By doing this it is hoped the number of stray dogs will be reduced.

In the year 2024/2025 the Trust carried out 334 rehomings, during the period 2023/2024 the Trust carried out 295 rehomings, the intention of the Trust is to re-home within this range. The figures have not yet returned to the levels preCovid but the pressures on all animal welfare can be highlighted in the figures for this year although the reasons behind them are varied. We continue to review the rehoming process, to maximise our ability to rehome and ensure good use of resources in all areas.

Rehoming will be achieved by cultivating our good reputation within the dog rescue world which leads to word-ofmouth recommendation, promoting dogs in need of a home on our website and having a strong presence on social media.

Page 5

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Achievements and performance

a. Review of activities

The main areas of charitable activity are the provision of kennels for dogs until suitable homes can be found, to provide advice and information to prospective new dog owners and provide back up support once a dog has been rehomed.

b. Dog kennels

The rescue centre consists of 40 kennels and reception area, a Special Needs and Puppy block with 7 kennels, socialisation room and laundry. There is also a separate block of 14 kennels which offer boarding facilities. As of 31st March 2025, the centre had 1 full time employee and 13 part time employees. The rescue kennels house an average of 25 dogs at any one time.

c. Volunteers

Volunteers are an important part of any charitable organisation and the Trust has always welcomed volunteer support, however, the Covid restrictions on volunteering and the loss of all volunteers for two years are still taking time to resolve and rebuild but we are seeing a gradual return, especially those offering extra time with the dogs in our care. During the financial year 40 volunteers supported our work in various ways including dog walking and administration.

d. Advice and Information

Prospective new owners complete an online adoption form initially which outlines their personal circumstances, experience with dogs and in particular collies. Rehoming staff then review the applications and discuss suitable dogs with those applicants who, it is felt, best match the dog's needs. They are then invited to visit the centre and spend time with each or any dog and if all circumstances are suitable the homing procedure can be completed. Any history both prior to arrival and during its time at the centre is discussed and information concerning collies is offered. Owners are offered support at any time after homing by phone, email or if necessary, they may visit the centre to discuss any problems.

e. Public Benefit

Identifiable benefit

94 dogs have been admitted directly from their own home, providing not only refuge for those dogs but also help and assistance to members of the public who often find themselves in difficult circumstances. With limited other options available to them our work provides the help they need. In addition, 183 dogs have been admitted from other rescues, releasing valuable kennel space at other rescues, allowing them to provide help and assistance to other members of the public. In addition, the Trust can offer support to members of the public who find dogs straying outside the operating hours of local authority dog warden services locally. During this financial period no such assistance has been required. Three dogs were provided welfare stay during the year due to owners’ ill health.

Page 6

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Achievements and performance (continued)

Our assistance is available to all sections of the community throughout the UK and further afield when necessary.

Private benefit is extremely unlikely and rare.

f. BCT Enterprises Limited

While considerable fundraising activities are undertaken by Border Collie Trust (Great Britain), certain other aspects such as boarding services and the sale of collie related memorabilia, are undertaken by BCT Enterprises Limited, a subsidiary of Border Collie Trust (Great Britain), which operates from the registered office of Border Collie Trust (Great Britain) and helps support the work of the Trust. The transactions of this subsidiary are included within the consolidated financial statements.

BCT Enterprises Limited raised funds in the following manner (all figures exclusive of VAT):

Boarding kennels bookings have returned to something approaching pre-pandemic levels, and online sales remains constant.

g. Savings Accounts

Savings accounts are maintained with several institutions. In light of the announcement in early 2013 of the proposed route of the High-Speed Rail (HS2), Trustees recognised the potential effect this may have on the centre and that in the worst-case scenario could make the centre unfit for purpose.

h. Overview

Calls for the assistance of the Trust have seen a gradual rise over the past few years as awareness of our work increases. The year in question saw a continuation of this effect. The ability of the Trust to offer support in rehoming collies is of course dependent on available kennel space and suitable prospective new owners providing homes. Maximum use of available kennels has been made by careful management, allowing support to be offered to other rescues in UK and Ireland but we have also been able to continue to offer rehoming support to an individual owners. Trustees will continue to monitor all areas of income and expenditure.

Page 7

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Financial review

a. Financial Position

With the aid of sound financial management and the backing of the staff and supporters, the Trust has maintained a positive financial position for the period. The charity’s total income fell from £1,662,935 to £826,337 during the year due to a significant reduction in legacy income. Legacy income amounted to £270,963 (2024 – £1,217,106).

b. Reserves policy

Funds at 31 March 2025 totalled £4,670,983 (2024 - £4,319,452), of which £605,117 were represented by fixed assets, hence free reserves at 31 March 2025 totalled £4,065,866 (2024 - £3,768,220).

The Board of Management has examined the charity’s requirements for reserves in light of the main risks to the organisation. In order for the Border Collie Trust to continue to function it is essential that it maintains adequate reserves. As a charity there is no guaranteed annual income as this comes from donations, legacies and re-homing fees.

Reserves can be general or designated. Designated reserves are restricted to a particular use, whereas general reserves have no restrictions but may be needed in an emergency.

The Trust needs to have designated reserves in order to continue to function for two years supposing there is no other income. At the present time our expenditure is the region of £450,000 a year so we intend to maintain £900,000 of designated reserves.

Whilst HS2 will terminate at Handsacre there is a possibility that a replacement called “HS2 Lite” will be constructed to continue the new railway line to Crewe. it is prudent to keep a considerable further sum in reserves in case major modifications to the centre or even the need to relocate are necessary. Reports obtained in 2021 provided a figure of between two and three million pounds would be required to relocate.

Reserves are also needed to finance the replacement or repairs to current assets, for example a new van (the current one is 10 years old) or replacement mowers. Work may also be needed on the septic tank. Other emergency repairs, as yet unforeseen, may also be necessary. These may or may not be possible to finance from the annual income.

The reserves policy will be reviewed by the Trustees every 12 months.

The announcement in January 2013 of the preferred route for the proposed High-Speed Rail and its close location to our property presented the Trust with concerns about the effect this development could have on the ability of the rescue centre to provide the environment required for the type of dogs we rescue. These genuine concerns led to Trustees accepting this may require a future Board of Management to feel their only option is to relocate.

Discussions with HS2 from 2016 to 2021 were inconclusive and HS2 refused to commit to our supporting the need to relocate. Following a protracted process during 2022 the Trust secured the purchase of a 6-acre field directly opposite the centre and planning permission was obtained in order to utilise the area for dog walking and enrichment.

Page 8

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

On 4th October 2023 it was announced that Phase 2A of HS2 was cancelled. In the short to medium term this means we remain unaffected, however, the long-term implications for this project remain unclear at present. In any event the long-term reserves policy still has to take account of the potential need to relocate from projects or demands that may arise.

In respect of short/medium term plans, the last few years have seen a reluctance to spend large amounts on the centre due to HS2.

Following the refusal from HS2 to assisting financially with relocation, and the subsequent cancellation of the project, meaning we will be unaffected in the short to medium term, work on retiling kennels in the main rescue kennel block was completed along with other projects including fencing and secure areas within the new field and also a new Meet and Greet room which will provide a quiet and calm area for adopters to meet new dogs.

Distinct isolation facilities within the rescue kennels to provide a higher level of infection control when such situations arise is a future consideration. Estimated costs for upgrading the existing rescue kennels to provide suitable isolation facilities is currently estimated to be £55,000.

In the medium to long term, the need for further assistance for the Border Collie breed throughout the UK will result in consideration of an additional rescue centre suitably located to increase the area in which the charity can have the greatest impact. This aim is of course now linked directly to the future progress of the high-speed rail project. The strategy is to continue to build reserves to fund future aims through planned operating surpluses.

c. Principal Funding Sources

Aside from the income generated by Border Collie Enterprises Limited, the trading arm of Border Collie Trust GB, the principal funding sources for the charity, are currently by way of regular monthly donations, by standing order or direct debit, from members of the Border Collie Support Scheme and Sponsor A Kennel. Funding is also received from donations at the time of rehoming dogs, the Gift Aid Scheme, various fundraising areas, grant applications, bank interest and investment growth. Legacies for this financial year amounted to £270,963 (2024 - £1,217,106).

Income from these sources has supported the objectives of the charity by making it possible to provide shelter, veterinary care for the dogs and support to people who have taken on the responsibility of re- homing a rescue dog.

d. Investments policy

In order to safeguard the future of the Trust and maximise income from financial resources, Trustees sought independent advice from Zenith Asset Management, Cannock. At 5th April 2025, these investments had a market value of £309,754 (2024 - £310,490).

The full board of the Border Collie Trust GB is responsible for investment decisions. An investment policy is reviewed regularly.

Investment management is delegated to an authorised professional investment advisor and the Board will seek independent financial advice from a recommended financial adviser. The financial adviser should hold the designation of ‘Chartered Financial Planner’ to demonstrate a high degree of financial technical knowledge and experience, and on the FCA register of current financial advisers.

Border Collie Trust GB seeks to produce the best financial return within an acceptable level of risk.

Page 9

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

The investment objective for the listed investments is to generate a return in excess of inflation over the long term, and provide income if the trust requires, to support the on-going activities of the Border Collie Trust GB and to provide long term financial capital for future necessary development of the current site and any requirement or ability to move or open further rescue centres.

The investment objective for the short-term funds is to preserve the capital value with a minimum level of risk. Assets should be readily available to meet unanticipated cash flow requirements.

The Charity has adopted an active ethical investment policy for long term investments. This requires long term reserves to be invested in those companies that have a favourable ESG (Environmental, Social Governance). In particular, no investment is to be made in those companies that undertake animal testing unless it is for essential medical purposes only. It is important that no investment is made that might give rise to any reputational risk to the Trust.

The Board of Trustees have responsibility for monitoring the investment assets and performance. The Finance Committee will review the information provided by the investment advisor on a regular basis. The financial adviser will visit the premises annually in person or by video link to present and review the investment portfolio and to re-assess the risk/reward profile of the Trust.

e. Risk

Border Collie Trust GB is reliant on fund raising and donations for its activities.

Investment assets are held as reserves. The key risk to the long-term reserves is inflation, and the assets should be invested to mitigate this risk over the long term. The portfolio must be invested in a diverse range of assets, recommended by the portfolio manager, with the aim to manage downside risk in volatile markets in accordance with the risk profile of the Trust. The risk profile for the Trust has been agreed as “Cautious+”, short term funds are held to provide financial security and may be required at short notice. As such capital volatility cannot be tolerated and investment of these assets should be focused on avoiding any loss of capital.

f. Plans for Future Periods

The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

Page 10

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Dains Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

_________ 7298B3E66F2445B... Mr B Wilkes Trustees

Date: 13 November 2025

Page 11

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Border Collie Trust (Great Britain)

Opinion

We have audited the financial statements of Border Collie Trust (Great Britain) (the 'parent charitable company') and its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of 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 Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 sufficient 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 concern 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 Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Border Collie Trust (Great Britain) (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 with the financial statements or our knowledge obtained in the course of the audit, or otherwise 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 material 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 information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 13

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Border Collie Trust (Great Britain) (continued)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 Auditors' 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 (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 the basis of these financial statements.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 14

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Border Collie Trust (Great Britain) (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Gurney FCCA (Senior Statutory Auditor)

for and on behalf of

Dains Audit Limited

Statutory Auditor Chartered Accountants

Birmingham

13 November 2025

Page 15

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Consolidated Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income before net (losses)/gains on investments
Net (losses)/gains on investments
Net income before taxation
Taxation
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
470,607
110,474
121,913
100,428
22,915
826,337
27,060
445,858
472,918
353,419
(1,831)
351,588
(70)
351,518
4,319,465
351,518
4,670,983		 Total
funds
2025
£
470,607
110,474
121,913
100,428
22,915
826,337
27,060
445,858
472,918
353,419
(1,831)
351,588
(70)
351,518
4,319,465
351,518
4,670,983		 Total
funds
2024
£
1,399,708
96,077
98,439
47,115
21,596
1,662,935
26,872
429,127
455,999
1,206,936
14,109
1,221,045
(40)
1,221,005
3,098,460
1,221,005
4,319,465

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 39 form part of these financial statements.

Page 16

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee) Registered number: 03159703

Consolidated Balance Sheet As at 31 March 2025

2025 2025 2024
Note £ £
Fixed assets
Tangible assets 14 605,117 551,232
Investments 15 309,754 310,490
914,871 861,722
Current assets
Stocks 16 19,241 19,416
Debtors 17 249,598 984,527
Cash at bank and in hand 3,513,489 2,474,648
3,782,328 3,478,591
Current liabilities
Creditors: amounts falling due within one year 18 (26,216) (20,848)
Net current assets 3,756,112 3,457,743
Total net assets 4,670,983 4,319,465
Unrestricted funds 19 4,670,983 4,319,465
Total funds 4,670,983 4,319,465

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr B Wilkes

Trustee Date: 13 November 2025

The notes on pages 20 to 39 form part of these financial statements.

Page 17

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee) Registered number: 03159703

Charity Statement of financial position As at 31 March 2025

2025 2025 2024
Note £ £
Fixed assets
Tangible assets 14 605,116 551,231
Investments 15 310,754 311,490
915,870 862,721
Current assets
Debtors 17 335,163 1,047,282
Cash at bank and in hand 3,439,104 2,425,159
3,774,267 3,472,441
Current liabilities
Creditors: amounts falling due within one year 18 (23,158) (19,400)
Net current assets 3,751,109 3,453,041
Total net assets 4,666,979 4,315,762
Unrestricted funds 19 4,666,979 4,315,762
Total funds 4,666,979 4,315,762

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr B Wilkes

Trustee Date: 13 November 2025

The notes on pages 20 to 39 form part of these financial statements.

Page 18

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Consolidated Statement of Cash Flows

For the Year Ended 31 March 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Movement in cash in investment portfolio
Interest received
Income from investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
1,011,469
(71,961)
190,598
(191,655)
(38)
94,467
5,961
27,372
1,038,841
2,474,648
3,513,489		 2024
£
524,348
-
99,152
(106,774)
6,420
41,391
5,724
45,913
570,261
1,904,387
2,474,648

The notes on pages 20 to 39 form part of these financial statements

Page 19

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

1. General information

Border Collie Trust (Great Britain) is a charity incorporated in the United Kingdom and registered in England and Wales under the Companies Act. The Charity is a private company limited by guarantee and registered in England and Wales. The address of the Charity's registered office is shown on page 1. The nature of the Charity's operations and its principal activities are set out in the Trustees report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Border Collie Trust (Great Britain) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

2.2 Company status

The company is limited by guarantee and has no share capital. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

2.3 Going concern

The Group's charitable activities, together with the factors likely to affect its future development, performance and position are set out in the Trustees' Report.

The Trustees have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements. Thus they have concluded that it is reasonable to continue to prepare the financial statements on a going concern basis.

Page 20

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.5 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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 21

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.7 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property - 2% straight-line on buildings
Property improvements - 10% straight-line
Plant and machinery - 25% straight-line
Motor vehicles - 25% on a reducing balance basis
Office equipment - 25% on a reducing balance basis

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

Page 22

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

2.14 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Donations
Tax repayable on gift aid
Legacies		 Unrestricted
funds
2025
£
175,734
23,910
270,963
470,607		 Total
funds
2025
£
175,734
23,910
270,963
470,607

Page 23

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

3. Income from donations and legacies (continued)

Donations
Tax repayable on gift aid
Legacies		 Unrestricted
funds
2024
£
156,666
25,936
1,217,106
1,399,708		 Total
funds
2024
£
156,666
25,936
1,217,106
1,399,708

4. Income from charitable activities

Rehoming
Rehoming		 Unrestricted
funds
2025
£
110,474
Unrestricted
funds
2024
£
96,077		 Total
funds
2025
£
110,474
Total
funds
2024
£
96,077

Page 24

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

5. Income from other trading activities

Income from fundraising events

Fundraising
Fundraising
Income from non charitable trading activities		 Unrestricted
funds
2025
£
50,773
Unrestricted
funds
2024
£
33,542		 Total
funds
2025
£
50,773
Total
funds
2024
£
33,542
Sales
Sales		 Unrestricted
funds
2025
£
71,140
Unrestricted
funds
2024
£
64,897		 Total
funds
2025
£
71,140
Total
funds
2024
£
64,897

Page 25

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

6. Investment income

Investment income
Bank interest receivable
Investment income
Bank interest receivable		 Unrestricted
funds
2025
£
5,961
94,467
100,428
Unrestricted
funds
2024
£
5,724
41,391
47,115		 Total
funds
2025
£
5,961
94,467
100,428
Total
funds
2024
£
5,724
41,391
47,115

7. Other incoming resources

Pet plan
Pet Plan		 Unrestricted
funds
2025
£
22,915
Unrestricted
funds
2024
£
21,596		 Total
funds
2025
£
22,915
Total
funds
2024
£
21,596

Page 26

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

8. Expenditure on raising funds

Fundraising trading expenses

Fundraising expenses
Investment management costs
Just giving
Fundraising expenses
Investment management costs
Just giving		 Unrestricted
funds
2025
£
191
4,867
468
5,526
Unrestricted
funds
2024
£
2,152
4,523
468
7,143		 Total
funds
2025
£
191
4,867
468
5,526
Total
funds
2024
£
2,152
4,523
468
7,143

Other trading expenses

Cost of sales
Administration expenses		 Unrestricted
funds
2025
£
12,611
8,923
21,534		 Total
funds
2025
£
12,611
8,923
21,534

Page 27

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

8. Expenditure on raising funds (continued)

Other trading expenses (continued)

Cost of sales
Administration expenses		 Unrestricted
funds
2024
£
11,783
7,946
19,729		 Total
funds
2024
£
11,783
7,946
19,729

9. Analysis of expenditure on charitable activities

Summary by fund type

Direct costs
Direct costs		 Unrestricted
funds
2025
£
445,858
Unrestricted
funds
2024
£
429,127		 Total
2025
£
445,858
Total
2024
£
429,127

Page 28

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

10. Analysis of expenditure by activities

Direct costs
Direct costs
Analysis of direct costs
Staff costs
Vets
Kennel maintenance & cleaning
Collie Care Fund
Rates & Insurance
Heating & Lighting		 Activities
undertaken
directly
2025
£
345,478
Activities
undertaken
directly
2024
£
348,001		 Support
costs
2025
£
100,380
Support
costs
2024
£
81,126
Total
funds
2025
£
255,448
6,067
49,858
8,782
13,031
12,292
345,478		 Total
funds
2025
£
445,858
Total
funds
2024
£
429,127
Total
funds
2024
£
232,051
6,097
74,790
11,675
11,713
11,675
348,001

Page 29

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

10. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Advertising
IT Costs
Directors and officers insurance
Motor & Travel
Audit
Bank Charges
Telephone, Postage & Stationery
Professional Fees
Printing
Training
Sundries		 Total
funds
2025
£
18,076
20,923
11,967
828
1,723
14,034
5,940
12,136
5,369
6,453
-
2,931
100,380		 Total
funds
2024
£
11,236
7,973
9,381
798
1,667
13,150
4,150
7,768
15,793
5,112
694
3,404
81,126

11. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £14,000 (2024 - £14,000), and includes fees for accounts preparation and completion of the corporation tax computation.

Page 30

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

12. Staff costs

Group
Group
Company
2025
2024
2025
£
£
£
Wages and salaries
238,170
218,851
238,170
Social security costs
12,662
9,208
12,662
Contribution to defined contribution pension
schemes
4,616
3,992
4,616
255,448
232,051
255,448
The average number of persons employed by the Charity during the year was as follows:
Group
Group
Company
2025
2024
2025
No.
No.
No.
Employees
14
14
14		 Company
2024
£
218,851
9,208
3,992
232,051
Company
2024
No.
14

No employee received remuneration amounting to more than £60,000 in either year.

Key management remuneration paid in the year by the Group totalled £33,590 (2024 - £30,794).

13. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from employment with the Charity. The value of Trustees' remuneration and other benefits was as follows:

2025 2024
£ £
Miss R Corden Remuneration 32,876 30,153
Pension contributions paid 713 641

During the year ended 31 March 2025, expenses totalling £31 were reimbursed or paid directly to Trustee (2024 - £305). This was for travel expenses.

Mr B Wilkes and Mrs S Wilkes, who are both trustees, live on site rent and rates free in a house, which belongs to the Charity. This is because, under animal welfare legislation, the centre is required to be manned at all times. Mr B Wilkes is a committed volunteer, who provides administration assistance to the charity.

Page 31

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

14. Tangible fixed assets

Group

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the
year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
645,104
-
645,104
98,140
9,814
107,954
537,150
546,964		 Property
improvements
£
-
71,961
71,961
-
7,195
7,195
64,766
-		 Plant and
machinery
£
2,899
-
2,899
2,898
-
2,898
1
1		 Motor
vehicles
£
25,102
-
25,102
23,215
472
23,687
1,415
1,887		 Office
equipment
£
26,141
-
26,141
23,761
595
24,356
1,785
2,380		 Total
£
699,246
71,961
771,207
148,014
18,076
166,090
605,117
551,232

Page 32

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

14. Tangible fixed assets (continued)

Company

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
645,104
-
645,104
98,140
9,814
107,954
537,150
546,964		 Property
Improvement
s
£
-
71,961
71,961
-
7,195
7,195
64,766
-		 Motor
vehicles
£
25,102
-
25,102
23,215
472
23,687
1,415
1,887		 Office
equipment
£
26,141
-
26,141
23,761
595
24,356
1,785
2,380		 Total
£
696,347
71,961
768,308
145,116
18,076
163,192
605,116
551,231

Page 33

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

15. Fixed asset investments

Group
Cost or valuation
At 1 April 2024
Additions
Disposals
Revaluations
Movement in cash
At 31 March 2025
Investments
in subsidiary
companies
Charity
£
Cost or valuation
At 1 April 2024
1,000
Additions
-
Disposals
-
Revaluations
-
Movement in cash
-
At 31 March 2025
1,000
Principal subsidiaries
The following was a subsidiary undertaking of the Charity:
Name
BCT Enterprises Limited
The financial results of the subsidiary for the year were:		 Listed
investments
£
304,476
191,655
(190,598)
(1,831)
-
303,702
Listed
investments
£
304,476
191,655
(190,598)
(1,831)
-
303,702
Company
number
0232507		 Cash held on
deposit with
fund
managers
£
6,013
(186,477)
190,598
-
(4,082)
6,052
Unlisted
investments
£
6,013
(186,477)
190,598
-
(4,082)
6,052
Class of
shares
Ordinary		 Total
£
310,489
5,178
-
(1,831)
(4,082)
309,754
Total
£
311,489
5,178
-
(1,831)
(4,082)
310,754
Holding
100%

Page 34

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

15. Fixed asset investments (continued)

Name Income Expenditure Net assets
£ £ £
BCT Enterprises Limited 71,140 51,269 5,004

The subsidiary has the same registered office address as the parent Charity and it's transactions are included in this consolidation.

16. Stocks

Group Group
2025 2024
£ £
Finished goods and goods for resale 19,241 19,416

17. Debtors

Due within one year
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2025
£
-
9,572
231,885
8,141
249,598		 Group
2024
£
-
3,299
976,533
4,695
984,527		 Company
2025
£
85,565
9,572
231,885
8,141
335,163		 Company
2024
£
65,337
717
976,533
4,695
1,047,282

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Page 35

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

18. Creditors: Amounts falling due within one year

Corporation tax
Other taxation and social security
Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
April 2024
£
Income
£
Unrestricted
funds
General Funds
4,319,465
826,337
Statement of funds - prior year
Balance at
1 April 2023
£
Income
£
Unrestricted
funds
General Funds
3,098,460
1,662,935		 Corporation tax
Other taxation and social security
Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
April 2024
£
Income
£
Unrestricted
funds
General Funds
4,319,465
826,337
Statement of funds - prior year
Balance at
1 April 2023
£
Income
£
Unrestricted
funds
General Funds
3,098,460
1,662,935		 Group
2025
£
70
6,410
19,736
26,216
Expenditure
£
(472,918)
Expenditure
£
(455,999)		 Group
2024
£
40
1,642
19,166
20,848
Taxation
£
(70)
Taxation
£
(40)		 Company
2025
£
-
4,902
18,256
23,158
Gains/
(Losses)
£

(1,831)
Gains/
(Losses)
£
14,109		 Company
2024
£
-
1,642
17,758
19,400
Balance at 31
March 2025
£
4,670,983
Balance at
31 March
2024
£
4,319,465
Unrestricted
funds
General Funds		 Balance at 1
April 2024
£
4,319,465
Statement of funds - prior year
Balance at
1 April 2023
£
Unrestricted
funds
General Funds
3,098,460

19. Statement of funds

Page 36

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
605,117
309,754
3,782,328
(26,216)
4,670,983		 Total
funds
2025
£
605,117
309,754
3,782,328
(26,216)
4,670,983

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
551,232
310,490
3,478,591
(20,848)
4,319,465		 Total
funds
2024
£
551,232
310,490
3,478,591
(20,848)
4,319,465

Page 37

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interests and rents from investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operating activities
22.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
23.
Analysis of changes in net debt
Cash at bank and in hand		 At 1 April
2024
£
2,474,648
2,474,648		 Group
2025
£
351,518
18,076
1,831
(100,428)
175
734,929
5,368
1,011,469
Group
2025
£
3,513,489
3,513,489
Cash flows
£
1,038,841
1,038,841		 Group
2024
£
1,221,005
11,236
(14,109)
(47,115)
(1,759)
(646,344)
1,434
524,348
Group
2024
£
2,474,648
2,474,648
At 31 March
2025
£
3,513,489
3,513,489

Page 38

Docusign Envelope ID: 248560D2-8662-48A2-B809-7413961DD7C7

Border Collie Trust (Great Britain)

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

24. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £4,616 (2024 - £3,992). Contributions toalling £1,017 (2024 - £658) were payable to the fund at the balance sheet date and are included in creditors.

Page 39