**Charity registration number 1072094** **HOLLYTREES ANIMAL RESCUE TRUST (HART) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022** ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|R Dedicoat - Chairman| |---|---| ||A Dedicoat -Treasurer| ||D Wills| ||W Dedicoat - Secretary| ||K Masterton| |**Charity number**|1072094| |**Auditor**|Jerroms Business Solutions Limited| ||Lumaneri House| ||Blythe Gate| ||Blythe Valley Park| ||Solihull| ||West Midlands| ||B90 8AH| |**Bankers**|NatWest Bank Plc| ||232/235 Stratford Road| ||Shirley| ||Solihull| ||West Midlands| ||B90 3AJ| ||Coventry Building Society| ||261 Strafford Road| ||Shirley| ||Solihull| ||West Midlands| ||B90 3AL| ||Quilter Cheviot Limited| ||8' Floor| ||Two Snowhill| ||Birmingham| ||B4 6GA| |**Investment advisors**|Jonathan Day Financial Services| ||1 Church Road| ||Brewood| ||Staffordshire| ||ST19 9BT| ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Statement of Trustees' responsibilities|3| |Independent auditor's report|4 - 6| |Statement of financial activities|7| |Balance sheet|8| |Notes to the financial statements|9 - 16| ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 30 JUNE 2022**_ The Trustees present their annual report and financial statements for the year ended 30 June 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the Trust. Hollytrees Animal Rescue Trust (HART) (“the Trust”) is governed by a Declaration of Trust dated 15 June 1998. ## **Objectives and activities** The Trust's operations and principal activities are to rescue and provide care and shelter for stray, abandoned, neglected and unwanted animals of all kinds; to protect animals from ill-usage cruelty and suffering; the relief of persons unable to afford veterinary fees for spaying of cats and dogs by assisting with charges; and the relief of the elderly who are unable to afford kennel costs or veterinary bills for their pets. ## **Public Benefit** Due regard has been given to the guidance published by the Charity Commission on public benefit. ## **Achievements and performance** This year has been a lot more back to normal for us all at Hollytrees . We have managed to plod through such a crazy time with covid for everyone . Our rescue and re-homing of domestic animals has increased ; mainly due to people selling their animals over the Internet , but with the sheer amount of puppies and kittens bred and brought during lockdown , we have seen our numbers rise as the internet can only do so much , luckily some people choose us to have a life time back up . Ray and the staff continue to be called to assist in the tracking and capture of animals, both wild and domestic. These are most often cases of animals being hit by cars and bolting off in fear. Ray has also been offering advice and supplies for cases of stray dogs all over the country. Ray has built a reputation of being able to trap dogs that are notoriously elusive and is often called for advice from distressed owners. In some of the hardest cases, Ray has gone out himself to help. Horses have also been a problem this year , with such wet ground and the fencing not being anchored enough . As they say the grass is always greener on the other side . Being the only rescue centre in the area to take in wildlife, we set an aim in 2019 to add some fledgling avaries , which we succeeded at . Our wildlife aim this year is to get the nursery area together before the baby bird boom . The Covid-19 pandemic has impacted the centre in many ways,even nowanf continues to do so . such as tidying and lack of storage, due to being unable to sell the items kindly donated to us , which we have managed to sort out quite alot of . ## **Principal risks** The trustees review the risk to which the trust is exposed on an annual basis as part of the approval of the annual business plan. The trustees have a risk management strategy which comprises: - The annual review of the risks that the trust might face - The establishment of systems and procedures to mitigate those risks identified - The implementation of procedures designed to minimise any potential impact on the trust should those risks materialise. ## **Reserves Policy** The trustees have examined the trust's requirements for reserves in light of the main risks to the organisation. They have established a policy whereby reserves are sufficient to safeguard the ongoing operations of the trust, and to be able to fund necessary building improvements and development work to keep the facilities as up to date as possible. The trustees have examined the trust's requirements for reserves in light of the main risks to the organisation. They have established a policy whereby reserves are sufficient to safeguard the ongoing operations of the trust, and to be able to fund necessary building improvements and development work to keep the facilities as up to date as possible. - 1 - HOLLYfREES ANIMAL RESCUE TRUST (HART) TrUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 FlnaTrclal rnvl•w During the yyar 30 2022 tho tLlal net iThxTh aThJ In IwKIs w45 £41.KO (2021 . £337.3981. Total funds at J) June 2022 to £4271.344 (21r21 . £4229.4391. **x*+ are all ur*•¥trktsJ. f0￿m, wthln whgt ts trL*t b¢li•v• is an aCc•Pta￿ W of r*k. ourg. kn onl•r to mBk8 sure thèt (w fK4btss are m8&1ir¥J tr* incrno$8d dam￿ w are oxpwlonc4ng . Malrdy r finandal 8tJ¥w oJntinu85 to guhlè c*wlty w the best way to kw our w￿ng well, We aro l¢Jok6ng to expw#J tyJr * arlmd yknT ts inst laThJ lo 88it wilh ttxs . Whlsl also belng a¥a￿alle sf•)Jld V•* need them in an 11 is a tho tharty Ihat frJTrJs *e on hand to hetp any animd in neod d ￿4r R Dwjirtht. Ch￿rn A Oedicoat.Tr8asurw K Mastèrton D Wills In 89 th8 tru8*98 *w¥e.' * a M0811rNJ. R Dedlo)8t. cf•krn Tfu*t•• 28Ap1￿ 2023 ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 30 JUNE 2022**_ The Trustees 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). The law applicable to charities in England and Wales 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 trust and of the incoming resources and application of resources of the trust for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - 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 sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 3 - HOLLYfREES ANIMAL RESCUE TRUST (HART) INDEPENDENT AUDITOR'S REPORT TO THE TRU8TEE8 OF HOLLrrREESANIMAL RESCUE TRUST (HART) Oplnlon hav• audtted the flnand•l 3t•tsmMts rf HolPm68 Anlmal Rewe Tnrnt ￿ART) (tho Irusf) for th• year onded Xl Jun• 2022 f*thlth ra>mpriw the •t•tom•nt of finllnci•l •ctivibe8, Ilki balarK• 8heo14rKI not•• lo tho Ilmndal •tsl•m•nts. InckKllng Ilgnmcqnt I(¥X￿n￿nO polclm. Th• fkn•nd•l r•pNOng framowth thot hai b••n appll•d In tholr propar4don l• •ppllc4ble law sthd Unhd thgdom Acuuntlr¥ Sl•Kl8rdi, Indudlng FlnanelAI R•porUng standard 102 The Finandel UK and R•publc of lrntsnd (Unkod lfjngdom G8neraUy A¢￿Pt•d Accountlnp P￿**>. In our oplnlon. th• Infjnclal st•tM)vth: glv• • IN• And f•lr ¥l*w of lh• ¥t•t• of Ih •ff•k• •• •1 ao Jun• 2022 and ofll• In￿)M￿9 T•￿jr0 arKI •ppllixllDn of r••ourc••. for th• ￿•r then •nd8d,, have bo•n prty•￿1 *lth Llrdt•d Gon•raly ALx•O•d Acmuntlng Prn¢*I￿. And h•wd b••n w•p•red In 4cryxthnc4 wlth th• ofth• ChAth A(* 2011. B••l• for oplnlon IA* eonducl•d our ludlt In •CCA)rdarK• vllh Int•m•Uon•l Sthndl￿l on AuthllNJ {UKJ (1￿ (UIQ) •nd •ppllc•bl• IN. Our r•ipon•fbil￿m und•r thom •t•ndard* •r• furth•f d•wlb•d In tho Audltots for tho •udlt of th• finèno'al st•t•nkintS 8OGtlon of our report. IrKS•p•rKl•nt of tha trust in aceord•nc• wlth th• •thlc41 rèquiromonl$ th•t •r• relevant to our Audlt ol thè fffl•ndal 11•t•n￿l In th• UK Indudirw the FRC'• Ethlc81 Sl•nd•rd, •nd w• h•ve fufflll•d our oth•r 6thle41 rwp(xMlbllttkn• kn aL￿rd￿¢• wilh tho80 rnquir•monts. bdl•v• that the •udrt w• hm dft#ln•d •nd 4pwoprf* *) a ba•￿ for ow oplnlon. C•n¢lu•l•M rnlallno to qolng ¢onMm In •udltlng th• flnvd•l •tst•m•rts, w• hawd ¢on<hY thal th• ThA1￿1. of th• golrwj cor*c•m b•* of a(￿untIng in the pr•p•r8tion of th• flnand•l slxl•m•nts i• •pwoprl•t•. ••d on th• w• b*￿ p•rfoTh•d. hjentw •ry unr*rtatrth rnlatknq to th￿1¥ or ¢X5nd￿on• that. or coll&•, may wgnrfic4nt doubt on tho twil'• abmty to ￿n[Inue •1 • golrvj onv)m for • p•rt¢xl of4t l•••t trt•t￿ monthl from th• fln•ncl•l •tat•Thnts •rn for141U•. OLW r•spon•lblllU•• irKI th• relpMdblI￿ ol th• TnAts•# th r••p•Gt to golThJ ¢ixKwn ar• d￿crIb•d kn th• r•l•v8nt 4edon8 of thh report. Olh•r Inlam Tho ather Infomwllon coryil••• th• brfrym•kn indthl•d kn th• annull r•port olhor th￿ th? flnandAI •tAt•m•nt• •nd our audho¢• t•port th•r•on. Th• Tr[1￿￿* •re rnwirAlbl• for oth•r lftfomth cixbt•ln•d wlthln •nnu r•rort. Our oplnlon on th• flnandd •t•t•m•rrt• +JDe• not coY4r th• 0lh•r *rfDfrnatk>n •nd wa do r￿1 •xpr•J• •rby fom of as8uran￿ COrK￿l￿)n th•r•w. Ow r••pon•lbllty li k* read thg othor Infomw¥cm •nd, In dth'ng so. ￿n￿er wh•th•r tho oth•r Inlormalknn l• m•t•W Inc&Mitstent wrth tht ffi•no1 thtom•nt¥ or our knowl•dg• oblalned in th8 ￿urse of lh• al￿1. or oth9rth￿ •pwrs lo ￿ rnat•rlalfy mlutated.ll ￿ IdvJntlfy mal•rfal In￿n$￿tanC or apparent Materf￿ ml4slatements, we We rawlred to d•tormln• Vhth thls &¥v•* r1￿ to a mat•rto1 mi8glat•m•nt In the flnandal 4l•t•m•nts them8dfft. 11. based on work w• hm ￿rforn￿d, w• (¥XK4ud• th•t theT• IB rn•tertal ml••tatsm•nt of thli oth•r Infomth, w• ¥• r•quW•d to r•port th•t I￿. ho￿ nothlng to report In M*tt•r• On vthlch TA• 4r• rnq￿r•d to v•port ty •x￿P havo nothiw to r•wt In rnSP•L* of th• fdt¢yhlng matters In reAolhJn to v*hp* tho lAC￿￿rtS and R•p¢)rtB} R•gul8Uorn 2008 wulr• ￿ to rnwt lo you If, kn our OFlnlon: Ihg Inforn￿on In th• 81*t•m￿ materf￿ r•wl th• Tru•tw•' port. or suffi¢ignl a¢wunting r•cord• haw not be￿ krt or the fin•nctal statements arg rw)t In agro•mwt wllh thg ¥ctountiNJ rewrd$; or we habe not •ll the InfDnnation and explwti￿ we T￿1￿¢ br our p4Jf +++ HOLLYTREES ANIMAL RESCUE TRUST (HART) INDEPENDENf AUDITOR'S REPORT (COPrnNUED) TO THE TRUSTEES OF HOLLYfREE8 ANIMAL RE8CUE TRUST IHART) pr•parnfftM of tho fin￿¢thI and for b•lng 44U•lknd th•t they gN• a tsuo •nd hlr and for luth fw0￿•1b1• for aue••lw th• In￿• •blity fo o)nllnue •• • 90Sng t*tK*n, d•chxlrvJ. u aPpl￿bkn, m•tt•r¥ rd•t•d to &)ncem •nd tho golrva ￿nI*M ol•c¢￿th unl•M th• arthor kbt8rrfl to op•r•llon•. or hm no mllth •lhmotK• Ixrt to th ￿. W• h•v• b1￿ •ppalnt•d a• undor #ctlon 144 of th• ChrtO•• 2011 •rwJ wllh th• Mal•rf￿ ml•*•tom•n( wlthr du• kn tr•￿1 or •rwry, and lo •n •udAarfi rwrt that IrKludM our oplnhx. Fknuonibkn a•wr•nc• li i hlgh of IArt l• nol • g￿lIn1•8 thAt An I￿111 rAx￿u(￿d In •wd•n wlh ISA• (UK) wll d•t•el • matr￿￿ MI••t•to￿ wh•n tt •xknts. MIMt•twn•nts from hud or •ffry •nd arn ￿nIldfrr•d m•t•rf•l Y. lThlMd￿l1w or kn th• •ggrw•t•. thy c¥yJld b• •xp•thd to Infflu•nc• 1Th•oul•rlll•B. Indudlng fvwd, arn In•tMc•• of m•l•rK• wlth r•gulthrM, W• dmlgn proc•dur•• In• wlth +)ur I••￿￿bIll￿o, •bM. to dot•rt m•t•l•l mlulatwn￿ts of hY•gul•rltl••, hc*Klkng fraud. Th• •xt•nttO Ththkh pur woe•durn• •r• ¢¥abl• dd•t•dlrvJ lrnguknrlllN kK4udlw fr•ud ￿ d•t•lknd b•kni: i&nM¢•rrt •nd unu•ud. . T•￿n9 Incom•• for . ￿nIld￿r•d wtthr tho C•)nwn dL*d￿U[• kn lh• In￿¢111 I1￿•r￿rtI and I￿rAt• . ￿ ho￿ •mptyMIt to •n•uM Itw• * no fr•ud th•t th• P￿￿1 c￿￿4• In th• fin￿d•1 •tthn•nts •gTW• t* PqyToI rncwd B•c*uM ofth• IknIIAYorr4 of ￿ I￿111, rfBk that not d•t•(* Il Irr•gukniUM. Indudlng tho Imdlng to • m•tsrfd mS••tst•*YMt In th• stat•m•nb w non)thnc¢ with 59cU(m 391 of tho Compani8• A(A 2014. Our work h•8 bwi und•rtak•n lo that mlghl Itato to th• coryanY• m•mb•rn th0￿ m•tt•rn we •r• r•quSr•d to •t&ts lo Ih•m In ￿ audAorf• rnport VKI for no Olher pwpo•e. To th• fiAl••t •xt•nt p•miNt•d by law, do not acccpt or amumo r•wn8lbllty to •nyon• otMr than mp•ny and the ￿mpanI8 m8mbor• •1 body, for o audlt *wk, forthls rnpor( or forthè wè ha￿ fomiad. Mr Rl¢hanl H•)rt•n F¢CA (8•nlor 8ta*Audttt) lor•nd an b•h•ff alJ•ff•m 8oluttpn• Lknll 28Awl 2023 Ch•rt•v•d C•rtlll•dAceountshts Slalutory Audltar Lumanerl Ho Gal• th• V•loy P• Sollhull I M￿•nd• 890 8AH HOLLYfREES ANIMAL RESCUE TRUST (HART) STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE AccouKr FOR THE YEAR ENDED 30 JUNE 2022 d• nd• 1021 Don4Uon• and l•g•d Ch•rlt•tl• In￿ltmonth 270.118 2.374 2n.819 2.372 24,794 Tol•l Inaom• 302,922 3(X+,966 R•hlng 15,923 14,140 128,718 122,347 144.a38 128.487 N•t ykn•lQo•wl on (116,378) 171900 Ikt Incwn• fpr th• y•llrt N•t mov•m•nt lft fvnd• 41,K 337,398 b•l•nc•• At 1 Juty 2021 4229A38 3.8VI.040 Fund b•lMG•J at XJun• X21 4271.344 4,229A38 HOLLYfREES ANIMAL RESCUE TRUST (HARn BALANCE SHEEr ASAT30JUNE 2022 2021 482.354 1.301.339 Tarwdlble as*ts 11 1.191.817 1.631.461 1,763,693 Debtors 12 13 726.595 1.932.384 T20.102 1,757.452 C&th al bMk aNI in 2.658.979 2.479,762 14 I19.￿) 114,017) 2.639.883 2.465,745 4271,344 4,229,438 4.271.344 4,229.438 4.271244 4.229.438 20 ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **1 Accounting policies** ## **Charity information** Hollytrees Animal Rescue Trust (HART) is registered with the Charity Commission in the United Kingdom. The trust is governed by a declaration of trust dated 15 June 1998. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the trust's Declaration of Trust dated 15 June 1998. 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 trust is a Public Benefit Entity as defined by FRS 102. 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 trust. 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 investments 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 trust 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. ## **1.4 Income** Income is recognised when the trust 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. Bank interest is accounted for when it is receivable. Cash donations are recognised on receipt. Other donations are recognised once the trust 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 trust 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. - 9 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Resources expended include all expenditure incurred in pursuance of the trust's objectives and are accounted for on an accruals basis. The trust is not registered for VAT, and so all VAT is irrecoverable and included with related expenditure. AII expenditure is accounted for on an accruals basis and is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. ## **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: Leasehold land and buildings 4% straight line Plant and equipment 15% reducing balance Fixtures and fittings 15% reducing balance Motor vehicles 25% 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 Fixed asset investments** Fixed asset Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains/ (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment ## **1.8 Impairment of fixed assets** At each reporting end date, the trust 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). ## **1.9 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. ## **1.10 Financial instruments** The trust 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 trust's balance sheet when the trust 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. - 10 - **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **1 Accounting policies** ## **(Continued)** ## _**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. ## _**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 trust’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the trust’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. There are no key estimates to disclose in the financial statements. - 11 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **3 Donations and legacies** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2022**|**2021**| ||**£**|**£**| |Donations and gifts|36,977|32,333| |Legacies receivable|233,141|241,486| ||270,118|273,819| ## **4 Investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2022**|**2021**| ||**£**|**£**| |Dividend Income|18,910|14,032| |Interest Income|11,520|10,762| ||30,430|24,794| |**Raising funds**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Investment advisers fees|6,526|5,795| |Portfolio management costs|9,397|8,345| ||15,923|14,140| ## **5 Raising funds** - 12 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **6 Charitable activities** ||**Unrestricted**|
**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2022**|**2021**| ||**£**|**£**| |Staff costs|58,685|58,678| |Depreciation and impairment|22,710|23,282| |Kennel direct costs|13,867|11,590| |Kennel overheads|11,228|11,363| |Repairs and equipment hire|12,713|12,152| ||119,203|117,065| |Share of governance costs|9,512|5,282| ||128,715|122,347| Governance costs consists of audit and accounts fees. It includes payments to the auditors of £4,750 (2021£3,250) for audit. ## **7 Employees** The average monthly number of employees during the year was: |The average monthly number of employees during the year was:||| |---|---|---| |Direct staff
**Employment costs**
Wages and salaries
Other pension costs|**2022**
**Number**
3
**2022**
**£**
57,001
1,684
58,685|**2021**
**Number**
3| |||**2021**
**£**
56,579
2,099| |||58,678| There were no employees whose annual remuneration was more than £60,000. - 13 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **8 Net gains/(losses) on investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Gain/(loss) on sale of investments|(116,378)|172,900| ## **9 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **10 Tangible fixed assets** |**Leasehold**
**land and**
**buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**Motor vehicles**
**£**
**£**
**£**
**£**
**Cost**
At 1 July 2021
511,972
10,274
965
10,853
At 30 June 2022
511,972
10,274
965
10,853
**Depreciation and impairment**
At 1 July 2021
61,437
3,666
333
6,274
Depreciation charged in the year
20,479
991
95
1,145
At 30 June 2022
81,916
4,657
428
7,419
**Carrying amount**
At 30 June 2022
430,056
5,617
537
3,434
At 30 June 2021
450,535
6,609
631
4,579|**Total**
**£**
534,064| |---|---| ||534,064| ||71,710
22,710| ||94,420| ||439,644| ||462,354| There is no formal lease agreement for the property on which the leasehold buildings are located. The freehold title is owned by the chairman of the trustee, Ray Dedicoat. The buildings are being depreciated over 25 years on the basis that the trust will continue to be allowed to use the buildings for at least that period. - 14 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **11 Fixed asset investments** |**Cost or valuation**
At 1 July 2021
Additions
Valuation changes
Other cash movements
Management and adviser fees
Disposals
At 30 June 2022
**Carrying amount**
At 30 June 2022
At 30 June 2021
Investments at fair value comprise:
Equities and securities
Cash within the investment portfolio
**12**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**13**
**Current asset investments**
Short term deposits|**Investment**
**Portfolio**
**£**
1,301,339
272,407
(116,378)
34,420
(15,923)
(284,048)
1,191,817
1,191,817
1,301,339
**2022**
**2021**
**£**
**£**
1,098,576
1,224,845
93,241
76,494
1,191,817
1,301,339
**2022**
**2021**
**£**
**£**
-
2,208
**2022**
**2021**
**£**
**£**
726,595
720,102| |---|---| - 15 - ## **HOLLYTREES ANIMAL RESCUE TRUST (HART)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2022**_ ## **14 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2022**
**£**
1,892
1,746
206
15,252
19,096|**2021**
**£**
1,364
1,627
1,026
10,000| |||14,017| ## **15 Retirement benefit schemes** ## **Defined contribution schemes** The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £1,684 (2021 - £2,099). ## **16 Related party transactions** The only related parties are the trustees. They have not received any remuneration or expenses during the year. Certain amounts have been reimbursed for expenditure properly incurred on behalf of the trust. The trust occupies property rent free on an informal basis, the freehold of which is owned by the chairman of the trustees, Ray Dedicoat. ## **17 Auditor's liability limitation agreement** The charity has, by resolution, waived the need for approval of the auditors’ limitation liability, which has been set at £2,000,000 within the letter of engagement dated 23 March 2023. This approval has been confirmed in the letter of representation dated 28 April 2023. - 16 -