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2020-12-31-accounts

Page
Trustees'
annual
report (incorporating
the		 director's report)
Independent
auditor's
report to		 the members
Statement
offinancial
activities		 (including income and expenditure account) 10
Statement offinancial
position
Statement
ofcash flows		 12
Notes to the financial statements
The following
pages do not form		 part ofthe financial statements
Detailed statement
offinancial		 activities 28
Notes to the detailed
statement		 offinancial activities 29

Reference and ad ministrative
 ministrative
 details
Registered charity name Gloucestershire Animal Welfare Association and
Cheltenham Animal Shelter
Charity registration number 1081019
Company registration number 03868428
Principal office and registered office Gardner's Lane
Swindon
Road
Cheltenham
Gloucestershire
GL51 9JW
The Trustees J Stewart (Chair)
A Ayrton
G Barnes
P Dyer
C Howard
A Williams (Vice Chair)
A Lawrence
Key Management Personnel P Newcombe (General Manager)
N Spanswick (Operations Manager)
A Jarvis (Head of Fundraising)
Company Secretary A Ayrton
Auditor Hazlewoods
Staverton
Court
Staverton
Cheltenham
GL51 OUX
Bankers The National Westminster Bank PLC
31 Promenade
Cheltenham
Gloucesters hire
GL50 1LH
Investment Manager Tilney Plc
6 New Street Square
New Fetter Lane
London
EC4A 3BF
Solicitors Willa ns
28 Imperial Square
Cheltenham
Gloucesters hire
GL50 1RH

(including
Income a		 nd Expenditu re
Accoun		 t)
Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2020 2019
Note F E
Income and endowments
Donations
and legacies		 7 464,825 220,500 685,325 286,321
Charitable
activities		 8 78,562 78,562 145,006
Investment
income		 9 104,264 104,264 160,400
Other income 10 56,746 56,746 92,012
Total income 704,397 220,500 924,897 683,739
Expenditure
Expenditure
on raising funds:
Investment
management		 costs 11 7,453 7,453 8,379
Expenditure
on charitable		 activities 12,13 840,057 27,433 867,490 869,201
Other expenditure 15 26,390 26,390 35,009
Total expenditure 873,900 27,433 901,333 912,589
Net gains on investments 118,278 118,278 143,167
Net (expenditure)/income (51,225) 193,067 141,842 (85,683)
Transfers
between
funds
Net movement
in funds		 (51,225) 193,067 141,842 (85,683)
Reconciliation
offunds
Total funds brought
forward		 2,834,868 10,030 2,844,898 2,930,581
Total funds carried forward 2,783,643 203,097 2,986,740 2,844,898

2020f 2019
F
Cash flows from operating activities
Net income 141,842 (85,683)
Adjustments
for:
Depreciation
oftangible
fixed assets		 56,560 55,242
Net gains on investments (118,278) (143,167)
Other interest receivable
and similar income		 (907) (1,386)
Accrued income (18,235) (29,777)
Changes
in:
Trade and other debtors (102,695) 49,808
Trade and other creditors 19,691 (554)
(22,022) (155,517)
Cash used
in operations
Interest received 907 1,386
Net cash used
in operating		 activities (21,115) (154,131)
Cash flows from investing activities
Purchase oftangible assets (21,707) (12,900)
Purchases
ofother investments		 (48,824) (242,189)
Proceeds from sale ofother investments 231,097 172,392
Net cash from/(used
in) investing
activities		 160,566 (82,697)
Net increase/(decrease)
in		 cash and cash equivalents 139,451 (236,828)
Cash and cash equivalents at beginning ofyear 152,823 389,651
Cash and cash equivalents at end ofyear 292,274 152,823

N otes to the F inancial Statements (continued)
8. Charitable activities
Total Total
Unrestricted Funds Unrestricted Funds
Funds 2020 Fundsf 2019
Animals
rehomed		 23,401 23,401 53,834 53,834
Stray fees and kennel retentions 4,597 4,597 4,559 4,559
Microchip sales 75 75
Charity shop 32,790 32,790 53,253 53,253
Centre events,
days		 christmas fair and open 1,686 1,686 10,149 10,149
CAS-VET rent 14,000 14,000 14,000 14,000
Education 2,088 2,088 9,136 9,136
78,562 78,562 145„006 145,006
9. Investment income
Total Total
Unrestricted Funds Unrestricted Funds
Funds 2020 Funds
f		 2019
Income from listed investments 12,148 12,148 21,761 21,761
Covenanted
income from		 subsidiary 91,209 91,209 137,253 137,253
Bank interest received 907 907 1,386 1,386
104,264 104,264 160,400 160,400
10. Other income
Total Total
Unrestricted Funds Unrestricted Funds
Funds 2020
f		 Funds 2019
Recharges to CAS Limited 36,257 36,257
Boarding fees 33,448 33,448 31,218 31,218
Dog training 150 150 2,110 2,110
Petplan
commission		 22,817 22,817 22,427 22,427
Other income 331 331
56,746 56,746 92,012 92,012

11. In ves tment management costs
Total Total
Unrestricted Funds Unrestricted Funds
Fundsf 2020f Funds 2019
Portfolio management 7,453 7,453 8,379 8,379
12. Expenditure on charitable activities by fund type
Total Total
Unrestricted Restricted Funds Funds
Fundsf Fundsf 2020f 2019
Animal Welfare 832,481 27,433 859,914 863,281
Support costs 7,576 7,576 5,920
840,057 27,433 867,490 869,201
13. Expenditure on charitable activities by activity type
Activities Total Total
Undertaken Support funds Funds
Directlyf Costs 2020 2019f
Animal Welfare 859,914 859,914 863,281
Governance costs 7,576 7,576 5,920
859,914 7,576 867,490 869,201
14. Analysis of support costs
Analysis of
Support
costs
Animal Total Total
Welfare 2020f 2019
Governance costs —Accountancy and audit fees 7,576 7,576 5,920

.
Other expend		 itur e
Total Total
Unrestricted funds Unrestricted Funds
Funds 2020
f		 Funds 2019
Bank charges 4,106 4,106 4,763 4,763
VAT disallowed 627 627
Insurance 9,527 9,527 8,928 8,928
Printing,
stationery,
advertising		 postage and 5,398 5,398 13,392 13,392
Telephone 1,200 1,200 1,162 1,162
Legal and professional fees 4,170 4,170 6,137 6,137
Other expenditure 1,989 1,989
26,390 26,390 35,009 35,009

Total Total
Unrestricted Funds Unrestricted Funds
Funds
f.		 2020
E		 Funds
f		 2019
E
Gain on revaluation of investments 72,160 72,160 143,167 143,167
Gain on disposal of investments 46,118 46,118
118,278 11&,278 143,167 143,167

2020 2019
F
Depreciation oftangible fixed assets 56,560 55,242
. Auditors remuneration
2020 2019
E
Fees payable for the audit ofthe financial statements 7,500 5,720
Other financial services 76 200
7,576 5,920

2020
E		 2019f
Wages and salaries 602,030 553,977
Social security costs 22,383 35,365
Employer
contributions		 to pension plans 13,891 14,325
638,304 603,667

Land and
Buildings Equipment Total
E
Cost
At 1 January 2020 2,061,436 196,541 2,257,977
Additions 21,707 21,707
Disposals
At 31 December 2020 2,061,436 218,248 2,279,684
Depreciation
At 1 January 2020 565,902 145,287 711,189
Charged
for the year		 41,128 15,432 56,560
Eliminated
on disposal
At 31 December 2020 607,030 160,719 767,749
Carrying
amount
At 31 December 2020 1,454,406 57,529 1,511,935
At 31 December 2019 1,495,534 51,254 1,546,788
22.
Investments
Shares
in
Listed group
investments underakings Total
f.
Cost or valuation
At 1 January 2020 1,122,771 100 1,122,871
Additions 48,824 48,824
Disposals (231,097) (231,097)
Net gains on investments 118,278 118,278
At 31 December 2020 1,058,776 100 1,058,876
Carrying
amount
At 31 December 2020 1,058,776 100 1,058,876
At 31 December 2019 1,122,771 100 1,122,871

2020 2019f
Turnover 66,385 143,702
Other income 96,652 80,457
Cost ofsales (6,507) (19,437)
Other charges (156,530) (204,722)
Profit/Loss
after tax
2020 2019
F
Non-current
assets		 1 501
Current assets 114,048 49,486
Prepayments
and accrued income		 145 103
Creditors: Amounts falling due within one year (114,094) (12,873)
Accruals and deferred income ~37,117
100 100
Capital and reserves 100 100

otes to the
.
Debtors		 Financial Statements
(continued)
2020 2019
E E
Trade debtors 3,020 2,751
Amounts
owed by group undertakings		 112,965 7,830
Prepayments and accrued income 59,840 41,605
Other debtors 7,550 10,259
183,375 62,445

2020f 2019
Trade creditors 33,330 23,009
Accruals and deferred income 8,778 5,737
Social security and other taxes 8,964 8,200
Other creditors 8,648 3,083
59,720 40,029

At At
1January 31December
2020 Income Expenditure
F		 Gainsf 2020
General funds 2,834,868 704,397 (873,900) 118,278 2,783,643
Restricted funds
At At
1January 31 December
2020 Income Expenditure Gainsf 2020
Willavoys 196,000 196,000
High Sherif Grant 2,500 (960) 1,540
David Woulfe 9,950 12,000 (16,473) 5,477
LEAndrews
Charitable
Trust		 10,000 (10,000)
Other 80 80
10,030 220,500 (27,433) 203,097

Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2020 2019f
Tangible fixed assets 1,511,935 1,511,935 1,546,788
Investments 1,058,876 1,058,876 1,122,868
Current assets 272,552 203,097 475,649 215,268
Creditors less than 1 year (59,720) (59,720) (40,179)
Net assets 2,783,643 203,097 2,986,740 2,844,745
2020f 2019
E
Financial assets measured at fair value through income and expenditure
Financial assets measured
at		 fair value through income and expenditure 1,058,876 1,122,768
Financial assets that are debt instruments measured at amortised cost
Trade debtors 3,020 2,751
Amounts
owed by group undertakings		 112,965 7,830
Prepayments
and accrued income		 59,840 41,605
Other debtors 7,550 10,259
183,375 62,445
Financial
liabilities measured		 at amortised cost
Trade creditors 33,330 23,009
Accruals and deferred
income		 8,778 5,887
Social security and other taxes 8,964 8,200
Other creditors 8,648 3,083
59,720 40,179

Owed to Owed by
Incomef Expendituref Charityf Charityf
Cheltenham
Animal Shelter Limited
At 31 December 2020 150,487 112,965
At 31 December 2019 207,122 7,831
CASVET LLP
At 31 December 2020 7,991 12,501 2,383 3,311
At 31 December 2019 34,771 55,353 2,118 4,851