COMPANY REGISTRATION NUMBER.. 03868428 CHARITY REGISTRATION NUMBER.. 1081019 Gloucestershire Animal Welfai"e Association and Cheltenham Animal Ke)helter Company Limited by Guarantee Financial Statements 31 December 2022 Gloucestershire Aiiimal Wplfare Association and Cheltenham Animal Shelter Company Limited by C7Liarantèe Financial Statemeiits for the ijear pnded 31 December 2022 Page Trustees, annual I'epoitt (incorporating the director's report) Independent auditor's report to the members Slatemer)l of financial activities lincludiiig income and expenditure accoLintl Statement of financial position 12 Slalemenl of cash flows Notes to the financial slalemenls 14 The followiiig pages do not forrn part of the financial statements Detailed stalernent uf financial activities 29 Notes lo the detailed statement of financial aclivities 30 GIoLicestershire Animal Welfare Assoc'iation and fhellenham Animal Shelter Company Limited by GLiarantee Financial Statements for the year ended 31 December ?.022 The Irusle8s, who are also the d1￿CtorS for the purpose5 01 company law, present their report and Ihe financial 8lalpmenls of the chaiily for the year ended 31 December 2022. Reference and admlnlstratlve details Registered charity name Glouceglersl)ire Animal Wellarg Association and Ghellenham Animal Shelter Charlty registration number 1081019 Company registratioti numbèr 03868428 Principal office and reglstèrad office Gardner's Lane Swindon Road Chellenham Gloucestershire GL519JW The TTusIèès J Slewari (Chaiil A Williams Ivice Chairl A Ayrton - resigned 1316122 C Barnes G Barnes P Dyer C Howard A Kapuslynska S Whiteman Key Nlanagement Personnel P Newcombe (General M8nagerl N Spanswick Ioperalions Managerl A Jarvis (Head of Fundraising) Company Secretary A Ayrton- iesigned 1316122 P Newcombe- appointed 2216122 Audltor Hazlewoods Slaverton Court Slaverlon Cheltenham GL51 OUX Bankers The National Weslminsler Bank PLG 31 PTowenade Cl)ellenham Gloucestershire GL50 1 LH Investment Manag8r Tilney PIC 6 New Street Square New Feller Lane London EC4A 38F Sollcltors Willans 28 Imperial Square Cheltenhain Gloucestershire GLSO 1RH Gloucestershirè Aiiimal Welfare Association and Cheltenham Animal Shelter Company Limited by Guarantee Financial Statements for the year ended 31 December 2022 Trustees, Annual Report (Incorporating the Dlrector's Reporti structure, Governance and Management During the la51 year the Board of Directors Iwho will be referred to as Trustees for the purpose ol this reporti met at least Quarterly via eilher a zoom oall or Face To Face meeting and all ol the Truslees are unpaid volullleers. When new Trustees are required, Ihe Charity evaluates any skill gaps oli Ilie Board and then aims lo recruit new Trustees with those skills. This is done by Ioc31 advertising or by rgcDtnm8ndation ol olhei membeTS. On appointment, new TrustBes given an induction briefing and reference rn8t&rial lo lamiliarioe themselves with the work of the Ch81ily and the iolÉ of a Charity Tiuslee. The Board is also careful l(> malntaln ils personyl competency by providing any training deemed necessary. This ye81 one Ttus18e rèsigned for personal reasons. In addition to the quarterlylmonlhly tlleelings, a ons-day Trustee workshop Is normally held annually bul this has been delayed foi a Ihird year due lo Covid, lockdowns and Truslee availability. This is the opportunily that the Trustees lake to review the management structure olthe business, the Risk Register, future Business Plans, 51aff salaries and competenaes and any future projects that have beell suggested for evaluation. 11 is hoped lo restart this iii 2023124. The Trustees review perfoim8nca al each meeting, including Ihe financial results ol the company's operations and make any required adjuslmenls lo Ihe operating plans and budgets. Sub commillees continue lo function and meet al agreed intervals to discuss and recommend actions for the Board's consideration. Each Bubcommillee has a minimum ol two Iiuslee m@mbfyis and the aim of this is lo align the specific skill sel of eaoli Trustee lo a specific area ol the business. The management structure is headed by the General Manager supporied by key senior members of sl8ff. Related Partles The Charity has a wholly owned trading subsidiary, Chellenh8m Anim81 Shelter Ltd, (CAS Lldl Company Regisfralion number 03804561. All profits from Ihis company are covenanted lo the Charily. There is a Llmiled Liabilily Partnership and lease agreement in plaTr between CAS Ltd and Chalkner VS LLP. This partnership, trading as CASVET LLP, provides the Charity and the public with low-cost quality veterinary SerVi￿s. CAS Ltd runs a shDP selling animal accessoiies, as well as a successful boarding establishment and an in house dog grooming servlcè. All prtsfits from CAS Ltd are (Sonaled to the Charity annually. Membershlp The charity is a member of the As50Gi3llon ol Dogs and Cats Homes and Is reglslered with the Fundraising Re9ulaloi. Rlsk rnanag8m8nt The Trustees are responsible lor the mana9ement of risks laced by Ihe Charity. There is a Risk Register in place es well as robusl inlernal controls which include frequent review ol Ihe financia1 position of the charity by Trustees. 11 is IpcognisEd that systems can provide reasonable bul not absolute assurance that major risl(s have been adequately managed. The Risk Register and plans ale revised annually at the Truslees workshop and may also be revised at a Truslee meeting if and when a new risk is identified thus providing the Board with signilicanl agsurance that risks are added in a timely manner. The hlghesl risk to the business generally conlinues lo be the instability of the currenl economic cliinate and ils impact on our major souic&s of income which come from legacies and donzlions. In addilion. a new iinloresèen risk became apparent in 2020 with tha Covld-19 slraln of Coronavirus. Al the end ol December 2022 investments showed a value of £861,029 (including cashl. 11 is recognised that we have no control ovér the Impact that the economic climate l)as on our investments, a review of our risk mÉiiagement strategy lakes place annually with our Investment Advisors, Evelyn. The investments cunlinue lo be held in a mediiitll risk portfolio. Other lop risks identified include the loss of key staff and the Imp8¢1 of adverse publicity on donations and legacies. Public benefit The Tiuslees confirm Ihat they have complied with the iequiiernenls of section 4 of the Charili6iS Act 201110 have due regard lo Ihe publlc benefit guidance published by the Charily Cominission for England 8nd Wales. Wilhout animals life for many people would be farless rich, it is our jDb to persuade them to Ljndersland the importance of ¢g1ing foi them. Gloucestersliire Aiiimal Welfare Association and Cheltenham Animal Shelter Conipany Limited by Guarantee Financial Statements for the year ended 31 December 2022 Trustees, Annual Report (Incorporating the Director's Report)- Continued Objectivès and activities The core aim of Gloucestershire Animal Welfare Association and Chellenham Animal Shelter is to provide shelter for homeless dogs, cats and other domestic animals whilst attempting to locate appropriate new homes forthem. The objective is lo provbdo professlonal care and good animal husbandly lo iesouèd animals during the proce￿ of ie-homing them lo good suilable caring homes as soon as possible. Truslees also r9Gognise Iheii duly of care to slafl employed and lo thE voliinteèrs who provide invaluable and additional assistance with all 8speGts of the business. The Charity also sepks lo &ncourage good practice in the care of animals in the communily Iliiough educallon ol the public In the basic5 of animal welfare. Achievements and performance This has been 8nolhei busy year at Ihe Shelter, and we have benefllted from a loyal and commilted staff group who are led by a stron9 management team whicl) is headpd by our General Mariager. The unprecedented and unforeseen Coronavirus pandemi¢ continued lo have an in7pact on the Charity ani5 ils businesses, alboit to a Ipsser d8gree. as things retLJrned lo 'lhe new normal,. Some cl)anges made during the worst of the pandeinic remain in pla￿ bul w8 weie pleased lo see that our educ8lion piogrammes rèslaried and our rehoming procedures and the businesses of dog grooming, dog and cal boarding and pel supplies bo98n lo show good signs again. Notable succ8sses were seen in managing the staff through a challenging period as we tnoved oul ol Ilie pandemic to continue where we could our rescue and relioming work and also the genèral ILJndrai8ing and donations efforts Ihat were made. Our vet partner Casvèt LLP saw good growth as well as providing great care lo all of our own aniinals. An unusual lack of legacies did imp8¢1 on Ilie Cliarily financially bul the Trus18ès have taken action over this by looking lo increase income from other area's during 2023. Property In looking lo increase ollier incomè lines the Charity agreed to bLiiI(I Ihiee new rehoming offl￿s lo allow Casvet to expand into rooms in the main Office block to cater for the vets extra growth which ultimately oulminales in more income lor the Charity. The cost ol the office build was covered by Casvel. The Food Stor9 old asbestos roolwas replaced during 2022 and with the aid olgrant funds air conditioning was installed in the Cal Maternity and Cat Boarding blocks and the Grooming Parlour to Improve temperature regul8lion in those are2's. With the help of our Volunteers, one ol Dur dog paddocks was drama11Gally improved around a woodlar)d theme. Ill addition normal maintenance was cairi8d out on all the existing buildings. Dogs rehomed We are pleased lo comment that thig year, even after allowiny foi the disruption ol the lockdowns, we have still been able lo conlinue our work with th& public ani5 have taken in 197 dogs with 190 dogs being rehomed. Cats rehomed We have taken in 171 cats and have rehomed 159. Small Animals rehomed We have taken in 104 small animals and have ￿hOm￿d 103. Animal relatod activilies I'here are curienlly 85 dog kennels al Ihe Shelter, 40 are used loi re-homlng dogs, 22 for quarantine, 16 lor boarding dogs, 2 isolation and 3 holdinglrecovery kennels. In addition, we have 2 puppy pens in our Young Animal Cenlre. There are 57 cal pens ol which 20 8re used ft)r rehoming, 14 quaranliiie, 8 isolation and 6 lor boarding. In addllion, we have 9 cat maternity pens in oui. Young Animal Centre. We can also accommodate up lo 20 small anirnals with indooi accommodation being available. As well as boarding facilities for boll) cats and dogs, dog grooming facilities are also provided which are well ulilised by our clients. We continue lo operate a non-deslruclion policy tsl animals coming into the shellei unless tliey are classified as dangerous. ale a banned breed or type, are seriously ill or ale loo aggressive lo be safoly rehomed, we also give consideration to the long-lerm quality ol life of Ihe animals. PTS figu18$ ale low a( just 14 dogs. 4 cats and O small ariimals, Ihe vast majority ol which were lor medical reasons. Gloucestershire Animal Welfare Association and Cheltenham Animal Shelter Company Limited by Guarantee Financial Statemeiits for the year ended 31 December 2022 Trustoes, Annual Report {Incorporating the Director's Report} - Continued Ullimalely, we tnust gauge our siiccess on the laet thal we have rehomed 452 animals this year. despite the continued challenges of coming out of the pandemic. All ol these animals had, for one reason or another, lost thèir homes. In addition, we relaunched both virtually and ￿F Qui EduGalion programrne reaching out in lo the commiinily in an effort lo educate children and adults alike about responsible pel ownership. 11 has been another challenging year but one Ihal we can be very proud ol. We continue lo follow the sh￿Iler melrics approach taken by Ballerse8 Dog5 & Cats Home wheia keèping lower dog numbers speeds up the lime it lakes to rehome them. We also work towards removing some of the barriers lo rehoming faeed by some ol our long slay iesidenls, Th& Local Anlmal Welfare meeting group, is lo be relaunched in 2023 following unavoidable, pandemic related, suspension where Ihis 8nabl8S US to CDntlnU8 useful nelworking and the share best praclice with other like-minded1tscal organisalions. including Dog's Trust, Blue GTOSS, RSPGA. Teekels and the Police. We run annual staff meetings with all rneirbers ol staff and tnembers of the Board of Trustees. al these meetings the results of salary reviews, changes in slaff sliuclure and olhei related issues ale discussed. As always, the stall group has worked haid duriiig Ihe périod wilh the establishment being FTE 31.23 made up 0140 8mployees, there were 10 leavers during the period offset by 9 new starters. On site Charity shop The Charity shop continues lo be a succe55 c6lebrating 10 years ol trading in 2022 achieving a record income y6ar of over £71 K. Althoiigl) severely disrupted by the Coronaviius pandemic and lockdowns in both 2020 and 2021 il continues lo provide In¢omè to the Shelter. and we are. as always, extremely gralelul lo Ih whole leam of people who volunleer and work in Ihe shop as without them the project could nol Dperale. 2023 should see the shop pass the £500K income barrier since il opened in 2012. FundTaising and èvants Fundraising is crucial lo the survwal of the shelter where this year we managed to gel back on track with events holding our annual Open Day in July. Festive evening in DeGember and iunning a dog show at Ihe Tewkesbuiy Big Weekend in May. We also h8ld or attended numerous smaller events during the summer ol 2022. We held further care appeals and various raffles during the year loo. We ale extremely pleased thal Pam Ayres remains our P8lion and would likè lo axtend our Ihanks to her for all the support she offeis lo the Shelter . Pet Plan insurance commission has incre8sed again this year. We also extend our thanks lo Pete ar)d Lucy Eggleslon for a £8.6K grant, Aviva lor a £9.911 hardship fund gFanl , MARS Pelcare Food Fund for £1.SK grant , Animal Friends for a £2K gi8nl, R8nishaw for a £0.5K grant, Arnold Clarke for a £1K grant and Pets al Home Foundation for 3 £12.gK grant. Other highlights of the year Include having 7 Charity ol Ihe Year partnerships. linkin9 up with Peter Ball & CO, ColswDld se￿ICe5 Remova5s Ltd , Search Station, SLG Brands Ltd . Endsleigh Insurance Service5 Ltd and iwo Pets al Hotlle Stores. Associalion of Dogs and C81$ Homes IADCHI membership was continued with regular virtual Open meelillgs and the annual conference altended and for the second year iunning we achieved a Highly Commended award in the SoGlos Glouceslershiie Charity of thè Yèar awards 2022. A special thank you is extended to all of our corporate supporters and aloremenlioned charity partner's. Education and community work We ￿-eStablIShed many of our Education projects as we moved out of the Covid pandernic , includlng our award winning HALT programme and hosted over 120 gclivilles in 2022. We also engaged with the local community working with ovèr 70 loyal volunleers, promoting responsible pel ownership. Both individLJal and group internal and exleinal slaH training look place during the year Including Customer Service training ,Emolional Wellbeing training. dog body language and various other behaviovr ie181ing tr&ining, via our Animal Behaviourisl. Trustaes, responsibllities Each Trustee CDntinue5 to oversee and report on specific areas of the Charity's work. The areas ol responsibility include HR, Finance, Property, Aniin81 Welfare, Volunteers, Education, Income Generation and Fundralsing. Gloucester$hiro Animal Welfare Association and Cheltenham Animal Shelter Comi)any Limited by Guartintee Financi(Il Statements for the year ended 31 Decembei. 2022 Trustees, Annual Report Ilncorporating the Dlrector's Reporti - fjontinued Flnancial rèvlew During the ye8r the Cornpany's Income was derived from invested capital, legacies, donations and profits from CAS Ltd. The financial position ol the chaTily was affected by the energy crisis and an unusual lack of legacies not seen lor a number ol years and very difficult to explain. A large trading deficit was seen during 2022 and coupled wilh capital losses in the Chaiilies inveslrneDlg has rèsulted in a disappointing year financially. Th85e two area's, Iiading 2nd Investmènts. can be summarised as follows Our Inveslments value lumbled by £120.2K due lo Iwo withdrawals (see below) bul mainly various uncontrollable world econornic difficulties including rising energy prices and most notably the Ukraine-Russia war. The Charilies Risk Register recognises that our biggest iisk continues lo be the inslabilily of the cuirenl econornic cliinale. We miligale Ihls risk as best we can via advice from our advisers. Evelyn, in what we invest in and when. Our trading performance also suffered rnainly as a resull of a large drop in Income (unusual lack ol legacle5, (£141 K down against budget). and three large escalating costs being vel fees and drugs1£21 K over budget), legal fees Ispecific conlesled Will case £12K over budgell and implémentation of Ihe NLW increase of 9.4Q/ lo a third ol our 40 paid staff. Incoine in most other lines increased well (Charity Shup, Donations, Grants, Boarding prolils and Casvel inoomel bul remain a lower percentage of our overall income. Expenses were Ilghlenèd where possible. Whilst the Charity is looking at reducing the relian￿ on legacies they retllain an important line of income and the Board still recognise that they are a very difficult form ol income to forecast and control bul we continue to take a number ol proactive steps to increase the markelir)g and reluin in this area. During the calendar year of 2022. ihe investment portfolio Managed by Evelyn Partners started off with a value or £1,191,327.07 and ended the year with a value of £861,028.96. There were two paymer)Is made lo Ihe Charity bank account of £150,000 on 121h January 2022 and £60.000 made on 27th June 2022. Taking this into account, thèiè was an overall diY)p in value of £120,298.11. On a lime weighted basis thi5 was the equivalenl lo a drop of 10.96°A over 2022, Tliis is in comp8ri50n lo a fall o119.44)/¢ for the S&P SOO Index. a 33.10tr/ts fall in the Nasdaq index, a 19.71°/o fall in the fTSE 250 index and a fall of 20.02°/tr in the MSCI AII Country World Index. During the year. sales worth £101,440.58 were made to replenish funds taken out by the trustees and to raise further cash in case rnore funds were needed lo iepSece lower levels of legaci@5. The investment objective continues lo remain as Balanced Growlh/lncome wllh a medium level of portfolio risk. Al the year end, Ihere was g.64°/0 in cash. A higher than usual level ol cash was in the porlfolio in case the lower level ol legacies remained and the Iruslees needed a lurth8r injection ol cash. Markets during 2022 continued lo be very volatile around the globe. as Central Banks raised interest rates to bring down inflalion which had riseii far faster Ihan had been exp@cled. As a rèsull ol Ihèse signS1icant inleresl iale iises, global bond markets suffered as values fell and interest rates rose. Ten year US Governmenl bonds fell by 16.5°/D during the year which tneanl that 2022 was the first year sin¢e 1961 where both equllies and fixed Income holdings fell across 11)e board. 2023 has started off on a more bullish note with markets in the first part of the year partially recovering from the poor 2022. Whilst thérè has been volatility, especially in the early pall olJuly, markets are showing some resilieiice. In Ihe lasl six rnonlhs the poilfolio hzs r8cover2d some of last year5 losses and is currently up 2.34Qh. Over the last twelve months to the end of June 2023. the portfolio is up 4.38°k. There is a sign thal inflation, in tlie US al lea51, is beginning lo cotne undEr sotne control. Wliilsl there is some way lo go, this is an imporlaiit step. Bolh the Board and our ii)veslmenl advisors still believe that volalilily will stay and markets will remain subdued until there 15 some more tiansp3rency in where inllatlDn is going 8nd how long interest rates need lo rise or stay al the currenl levels. Gloucestershire Animal Welfare Aeasociation and Cheltenham Animal Shelter Company Limited by Guarantee Financial Statements for the year ended 31 December 2022 Trustees, Annual Report Ilncorporating the Director's Report) - Continued Reserves policy The Trustees will continue to ifygularly monilc>r Ihe level of reserves and review the reserves pollcy on an annual basis. The policy ol the Compar)y is lo hav8 sufficienl reserves to be al)le lo run for al least two years should no donallons or legaciès be received. No Trustee has requpsled or re¢eivpd any remuneration or expenses during this financial year, Investment policy The TruslÈés Implèmented an investment policy which was reviewed In O¢lober 2022. Investment Objective5 The investment objective is lo dpliver capital growth and .altliDugh some cash withdrawals h8ve had lo bè made to aid cashflow through a lack ol legacy income. these are kept lo a tninimum. Investmènt Reslrlctlons The Iruslees have iequosled that inveslmenls inlo companies involved in anirnal lesling b8 avoided. 11 has been explained that this can be applied lo direct inveslmenls inlo company shares or fixed income investments issued by those eompènies,. htsbvever, a proportion of the poittolio is invesl@d into collective inveslment funds in order ID provide diveisificalion IOT the portfoliD, where Tilney has no coiilrol over investments being made. Thig was understood and is accepted. Consequently, you have requested that no inveslments be made into pharmaceuliGal wmpanies. DSversili¢ation and Liquidity Investments wi51 be deployed into direct inveslmenls, collectlve inveslmènl funds Bnd investment cornpanies, and when taking the portfolio as a whole, the inveslments will be diversified both by assel olass and by managers for the underlying collective funds. Under nortnal markel conditions, investments will be liquid and realisable. The Trustee5 Gonsid&i that thè Board of Truslees, the General Managei, the Operation5 Manager and the Hèad ol Fundraising comprise the key managetnenl personnel ol the Charity in chaige ol directing and controlling, running and operating Ilie Charity on a day-to-day basis. All Trust2es give ol their lime freely and no Trustee received retniineration in the year. Details of Truslee8' expenses and related party Ir8nszcllons are disclosed in notes 20 and 30 to the financial slaloments. The pay of the General Manager and other staff is reviewed annu811y based on perfomian¢e and normally increased In accordance wilh average earnings. The remuneialion is SBI to ensure il is both fair but also will altracl and ielain staff ol Ihe appropriate calibre and experience required by the Charity. Conclusion Th8 Truslees would like lo thank our loyal staff and volunlè6rs lor Iheir hard work wilhoul which we could not continue lo oper8te to the standards we do or achieve the successes that we show. The support we get from the local community lo further Ilie work of the Qharlly is invaluable. This helps enable the chaiity lo oonlinue to provide sheher and care for animals in need, seeking lo establlsh thém In new ai)d caring homes. Gloiicestershire Animal Welfare Association and Cheltenham Animal Shelter Company Limitod by Guarantee Financial Statements for the year ended 31 Der.èmber 2022 Trustees, Annual Report {Incorporating the Director's Report)- Continued Plans for fulure perlods To continue to develop and increase 'olher lines, of Incotlle , relying less legacies and lo ensure a stable financial position is restored after a difficult 12 months To conlinLie to develop all our staff Ihrough 118ining and appraisal processes and to encourage m01nbership of professional bodies. To improve the animal accomrnodalion 81 th8 silè as this has served lis well for many years bul now requires updating and possibly rebuilding. To undertal(e a site review as Iheie are aieas of land currently nol used lo maximum capacity. Going Concern The Board of Trustees reviewed 11)e ongoing situation Ihroughoul 2022 via quarterly Finance Siib Commilt8es and quailerly Lloard meetings and deoisioiis were made to put in place actions to increase our income lines whero we could a8 many of these Ilnes are Ihriving and this would offset the reliance on legacy inGome. Drug and vel lees have lo a degree slabilised and whilst the legal feès remain on a par willi 2022 (ongoing legacy casel the NLW Snciease will be lower in 2023 as expeclpd. The Charity, whilst suffering a poor y6ar financially in 2022, have taken positive steps lo increas8 income, vhilst also controlling cosls as much as possible, still have sufficient inveslments 38 back ijp whilst this 'turning ol the cornei, lakes plaee. The Charity Own5 the whole of the 3.5 acre sile that il operates from, is completely mortgage free, and has no other debts. The Trustees anlicipala that thè Charity will be able lo meel ils obligations as they fall due for the n&xt 12 monlhs from approval DI these financial slalemenls and on that basis, with actions taken lo redress the large financial deficit we feel Ihal thè Charity remains a going concem. Trustees, re5pon5ibillty statemènt The Trustees, who are also direclois loi the purpose ol company law, a￿ responsible for preparing the Irusloes report and Ihp financial statements ir) accordance with applio8ble law and Uniled Kingdom Accounting Standaids (Uniled Kingdotn Gènerally Aecepled Accounling Praclicel. Company Law requires Ihe cliarily Irustees lo prepare linai)cial stalemenls for eaoh year which the incomE and expenditure, for thal period and give a Iiue and fair view of the stale ol affairs ol Ihe charitable company and the incoming resour¢¢s and application ol resources. including the income and expenditur&, for Ihal period. In preparing these financial slalemenls, the Iiusletrs are required lo.. Select suitable accounting policies and apply them consistently., Observe the Invlhods and principals in Ihe appliL8ble chaiilies SORP., Make jiidgements and accounting eslimales Iliat are r8asonable and prudenl. Slate whelhei app1icabl8 UK standards have been followed, subject tu any material departures disclosed and explained in linanoial slatemenls. Prepare the financial slalements on Ihe going concern basis unless il is inapproprlale lo presume that the charity will remain in business. The Tiuslees are responsible lor keepiiig adequate records Ilial are Sufficient lo show and explain Ihe charities Iran5aclion$ and disclose with reasonable aCCU￿¢Y al any time the financial position of the oharily and enable them to ensure Ihat the financial slalements comply with the Companies ALt 2006. They are also responsible lor safeguaiding the agsels ol tl)e charily and Iience lor laking reasonable steps lor th8 prevention and detection ol fraud and other irregularities. Gloucestershire Animal Welfare. Association (ind Cheltenham Animal Shelter Compaiiy Limited by Guarantee Financial Statements for the yecir ended 31 December 2022 Trustees, Annual Report {Incorporating the Director's Report)- Continued Each ol the persons who are a trustee at the dale ol approval ol this Teport confirms Ihal.. So far as they are aware, ther& is no relevant aiidit informalion of which the charily's auditor is unaware., and They hzve lal(en all steps that they ought to have taken as a Iriislee lo make themselves aware of any relevant audit information and to eglabllsh that the charity's auditor is aware of that information. Auditor The auditor is deemed to have been re-appoinled in accordance with seclK>n 487 of thè Cotnpanlès Act 2006. Small oompany provisions This report has been prepared in accordance with the piovisions applicable lo companlès enlilled to Ilie small cornpsnies exemption. The tru es, annual report was approved on 24 August 2023 and signed on behalf of the board ol PNe Charity Sècretary Gloucestei'shirp Animal Wplfare Association and Choltenham Animal Shelter Company Limited by Guarantee r.inancial Statements for the year ended 31 December 2022 Independent Auditor's Report to the Members Df Gloucestershire Animal Welfare Association & Cheltenham Animal Shelter Opinion We have audilgd the linandal stalements of Gloucestershire Anirnal Welfare Association & Chellenham Animal Shelter Ilhe 'charilable company'l for the year ended 31 December 2022 which comprise the Slalemenl of Financial Aclivilies, the Balance Sheet, the Cash Flow Slalemenl and notes lo the linanclal staleinenis, inclucjing a SLimmaiy of significant accounting pollcles. The financial reportiiig framework that has been applled in their preparation is applicable law and United Kingdom Aocounllng Standards Iunlted lur l(nowledge obtained in the audit 01 olhorwise appears lo be materially misstated. If we identify &uGh maleTI81 inconsistencies 01 apparent material misslalemenls, we are required to delertlline whether there is a material misslalemenl in the financial statements or a material misstatement ol the other information. If, based on th? work we have performed, we conclude that there Is a material misstatèment of this other information, we are required lo report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the c(>urse of the audit.. the inform81ion given in the ttuslees, report linctsrporaling the strategic report an(5 the directors, report) for the financi31 year for which the financlal statements are prepared is consislenl with the financial stalemenls., and the slialegic report and the directors, report have been prepared in accordance with applicable legal requirements. Matters on which w8 arè requir9d to report by exception In thè lighl of our kntswledge and understanding Df the chaiitable company ils environmenl obtained in the course of the audit, we have not idenlilied malerial misstalemenls iri the slralegic Teport and the directors, report. We have nolhiTig lo report in respecl of the following matters in relation lo which the Companlas Act 2006 reqtjlres us lo report to you if, in our opinion". adequate accounting records have not been kept. or relums adequate lor our audit have not been receNed from branches not visited by us., or the linanclal statements are not in agreement with Ihe accounllng records and returns,. or certain disclosures of directors, remuneration specified by law are not niade., or we have nol reLeived all the information and explanalions we require lor our audit. Responslbllities of trugtees As explained more fiilly in the Iru.Elees' responsibilities slalement, the trustees Iwho are also the direcloTS of the chaiilable ¢omp8ny lor the purposes of cc>mpany lawl are responsible lor the proparation ol the financlal slalements and lor being satisfied that they give a IiuÉ and lair view, ai)d lor such internal control as Ihe Iruslees delermine is necessary lo enable the preparation of financial statemenls that are free Irom material misslatemenl, wlielher due lo 118ud or error. In preparing the financial statements, the triJ5tees are responsible for assessing the charitable ¢otnpany's abillty ta continue as a going concern, disclosing, 8s applipablé, mallers relate(S to going concern and using Ihe going concein basis ol accounting unless the Iruslees either iniend lo liquidale the charitable company or to cease operalion5, or have no realistic alteinatlve but to do so. Gloucestershlre Anlmal Welfare Association and Cheltenham Animal Shelter Coinpany Limited hy Giiarantee Fiiiancial Statemeiitb for the year ended 31 December 2022 Independent Auditor's Report to the Members of Gloucestershire Animal Welfare Association & Cheltenham Animal Shelter Auditor'5 responslbilltles for the audit of the financial statements Our objectives are lo obtaii) reasonable assurance about whelhei the finan¢ig1 slalemenls as a whole are free from material mis51alemenl. whelher due to fraud or errDr, and to issue an auditor's report that iiicludes our opinion. Reasonable assurance is a high level ol assurance, bul is nol a guaianlÈe that an audit conducted in accordance with ISAS IUKI will ahvays delect a material misstatement wlien il exists. Misstatements can arise from fraud or error and are considered material il, individually or in the aggregate, they cDuld reasnnably be expected to Influence the economic decisions of users taken on the basis of thests financial slaternenls. As part ol an audit in accordan￿ with ISAS IUKI, we exercise professlonal judgment and maintain professional s¢eplicism throughout the audil. We also.. Idenlily and as58SS the risks ol material misslalemenl of the linaiiaial slalemeiils, whether due to fraud or error, design and perform audit procedures responsive lo those riskg. and obtain audit evidence that is sufficient and appropriate lo provide a bgsis lor our opillion. The iisk ol nol delecling a material misstalernent I"esulling Iiom Iiaud is higher than lor one resulting from error, as fraud m8y involve collusion, forgery, intentional omissions, misrepresentations, or the overrlde ol internal control. Obtain an understandlng of inlernal control relevant lo the audit in order lo design audll procsdurès Ihal are appropriate in the circumstances. but not for the purpose ol expressing an opinion on the effectiveness of the charitable cornpany's internal conliol. Evaluate the appropriateness of accounting policies used and the reasonableness ol accounting estimates and related disclosures made by the trustees. conclude on Ihe appropiialeness ol the Irustees, use of the going con￿rn basis ol accounting arid, based on Ihe audit evidence obtained, whether a material unoert8inly exists related lo events or Gondillons that may cast significant doubt on the charilable company's abilily lo continue as a going concern. If we conclude Ihal a material uncertainly exisls, we are required lo draw atlenlion in our auditor's report to the related disclosures in the financial slateMpi)Is or, if such disclosures are inadequate, to Modify our opinion. Our concluslons are based on the audil evidence obtained up to the date ol our audilor's report. However, lulure eveiils or conditions may cause the charitable company lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content ol the financial slalemenls, including the disclosures. and whether the financial statements rep￿sent the underlying transactions and events in a manner Ihal achieves lair presentation. We communicate with Ihose charged with governance iegarding, 8mong other matters, the planned scope and liming of the audit 3nd si9nilicant audii findings, including any significant deficiencies in internal control that we identify during our audit. U58 of our report This report is made solely lo the charitable company's mèmbers. as a body, in accordance with Chapler 3 01 Part 16 01 the Companies Acl 2006. Our audit work has been undertaken so th81 we miglil state to the harilable company's mernbeis those matters we are required to slate lo them in an aiidilof s report and for no other purpose. To Ihe lullesl extent permitted by law, we do not accept ai assume responsibility lo anyc>ne olher than the charitable Gompany and Ihe charitable Lc>inpany's meinbers as a body, lor our audil work, loi this ieport. or lor11)e opinions we have formed. 25 August 2023 Scott Lawrence FCA DChA (Senior Statutory Audltorl For and on behalf of Hazlèwoods LLP, Statutory Auditor. Cheltenham 10 Gloucestershire Animal Welfare Association and Cheltènham Animal Shelter Company Limited by Guarantee F.'inancial btatements for tlie year ended 31 December 2022 Statement of Financial Activities for the year ended 31 December 2022 (including Income and Expenditure Account) Total Fund5 2022 'rotal Funds 2021 Unre51ricled Funds Resliicted Funds Note Income and endowments Donations and legaci8S Charitable aclivilies Investment income Other income 380,246 163,456 141,493 137,839 44.921 425,167 163,456 141,493 137,B39 444,014 95,967 145,204 55,663 10 Total income 823,034 44,921 867,955 740,848 Expenditure Expenditure on raising funds.. Investment management costs Expenditure on charitable activities Other expendilure 7,082 1,017,193 51,787 7,082 41,959 1,059,152 51,787 8,244 916,428 24,394 12,13 15 Total èxpèndlture 1,076,062 41,959 1,118.021 949,066 Nel (lossllgains on investments 16 1124,3921 1124,3921 113,049 Net lexpenditUTelJin¢ome 1377,4201 2,￿2 1374,4581 195,1691 Transfers be￿een funds Neft movement fund5 (377,4201 2,962 1374,458) 195,1691 ReconcÉ113tloii of fuiids Total funds brought lotward Total funds cai'iièd forward 27 2,674,604 2,297,183 216,967 2,891,571 2,986,740 219.920 2,517,112 2,891,571 The slalemenl ol financlal activities includes all gains and losses recognised in Ihe yèar. All income and èxpendlture dèrive from conllnuing aclivilies. The notes on pages 14 10 27 form part ol these finaiicial slalemenls. Gloucestershire Animal Welfare Association and Cheltenham Animal Shelter Company Limited by Guarantee Financial Statements for the year ended 31 December 2022 Statement of Financial Position as at 31 December 2022 Notes 2022 2021 Fixed assets Tanoible fixed assets Inveslm&nls 21 22 1,443,530 1,462,510 775,609 1,001,112 2,219,139 2,463,622 Current assets Debtors Cash at bank and in hand 23 179,357 177.319 176,969 306,780 356,676 483.780 Credltors.. Amounts falllng clue within one year 24 58.703 55.800 N•t currènt assèts 297,973 427,949 Total asse15 less current liabilitÈe$ 2,517,112 2,891,571 Net assets 2,517,112 2,891,571 Funds of the charity Reslricled funds Unresliicted funds 219,929 216,968 2.297.183 2,674,603 Total charity funds 27 2,517,112 2,891,571 The financial statemenls were approved by the Board of Trustees and aulhorised for issue on and are signed on their behalf by.. 24 August 2023 J Stewart Trustee Company Registration Number.. 03868428 The notes on pages 14 10 27 fortll part of these financl81 slat&mènis. 12 Gloucestershire Animal Welfare Asavociation and Cheltenhdm Animal Shelter Comp¢iny Limited by Guarantee Financial Statpnlents for tho year en(led 31 December 2022 Statement of Cash Flows foi. the year ended 31 December 2022 2022 2021 Cash flows from opèratlng aetivltles Net income 1374.458) 195,1691 Adjuslmenls for.. Depreciation ol tangible fixed assets Nel lossesllgainsl on investmen15 Olh&i iIiterest receivable and similar income Accrued income 81,182 62,337 124,392 1113.0491 15291 12861 114,361) 34,086 Changes in.. Trade and olher debtors Trada and othèr creditors 11.973 127,6801 2,902 13,9201 1188,8991 1143,6811 C85h used in operations IrTrteres1 iecelved 529 286 Nel cash used in opei8ling aclivili8s 1188,3701 1143,3951 Cash flows from Invfrstlng acllvltles Purrhase ol tangible assets Purchases of olhei investments Proceodb Imm sale ol other investments 142,2021 112,9121 157,6831 228,496 N81 cash frotn irTrve5ting aclivities 58,909 157,901 N81 incraasè in cash and cash aquSvalents Cash and cash equivalents at beglnning of year 1129,4611 306,780 14,506 292,274 Cash and cash equlvalenls at end of year 177,319 306,780 The notes on pages 14 10 27 fomi part of these financial slaleineiils, 13 Gloucestershire Animal Welfare Association and Cheltenharn Animal Shelter Company Limited by Guarantee Financial Statements for tlie year ended 31 December 2022 Notes to the Financial Statements General Information The charily is a public benelil enlily and a private company limited by guarantee, regisleied in England and Wales and a registered charity in Ingland and Wales. The address ol the registered Offi￿ is Gardne¢s Lane. Swindon Road, Chollenham, Glouceslershiie, GL51 9JW. Statèment of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and tho Republlc of Iieland,, the Slalomènt of Recommended Praclice applicable lo chaiilies prepari17g tlieir financial slalemer)Is in accoi'dance with the Finsncial Reportiiig Standard applicable in the UK and Republic ol Irelgnd IFRS 1021 Icharilies SORP IFRS 10211 and the Companies Act 2006. Accountlng policies Taxatlon The charity is an exernpt Charily wilhTn the tneaning ol Schedlile 3 of the Charities Act 2011 and is Considered lo pass Ihe tests set out in paragraph 1 Schedule 6 of Ihe Financ8 Act 2010 and thèrefore il meets the definilit)n ol a charlt3ble company lor UK corporation tax purposes. Basis of prtpAI'atlon The financial stalernents have beeii prepared on th8 hlstOTlcal cost basis, as modrfied by the ievaluation ol certain financial assets and liabilities and investment properiies measured al lair value Ihrough income or expenditure. The financial slalemenls ale prepared in sterling, which is the functional currency ol ihe entity. Publlc benefit The charity meets the definiliori of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al hisloii¢al c(>st or transaction value Ljnless otherwise stated in Ihe relevar)I accounting policy notes. Going concern Th8 Trustees liave prepared the linaneial statements on a going concern basis on the assumption that theirfunding will be mel. DLI@ lo the nalLire ol cash flows, Iheie is always sotne uncertainly with regards to income whir.h relies heavily upon donations. Should the Charity not he able lo continue as a going concorn, adjuslmenls would be necessary lo write down the value ol the chiirily's assels lo Iheii rècoverable amounts, make provisions lor further liabilities th81 would arise on cessation of activities and lo ieclassify fixed assets and non-current assels and liabililies. Consolidation The charity is not required lo prepare consolidated financial slalemenls in 8ecoFdance with Chaiities Act 2011, and has taken advantaye ol the option nol lo prepare consolidated financial stalemenls contained in Section 398 Ol Ihp Companies Acl 2006 on the basis that Ihe Charily and ils subsidiary undertakings compiise a small group. Judg8rnents and key sourcès of estlmatlon uncertalnty The preparation ol the financial slalemenls requires management to make judgemenls, estimates and assumptions that affect the arnounls reported. These eslirnales and judgements are eonlinually reviewed and ale based on experience and other factors, including expectalions of future events Ihal are believed to be reasonable under the Lircumslanoes. 14 Gloucestershire Animal Welfare Associatlon and Clielt?.nhc1m Animal Shelter Company Limited by Guarantee Financial Statements for the year ended 31 December ?.022 Notes to the Financial Statement5 {continued) Fund accounting Unrestricted funds are availab￿ for use at the discretion of the Iruslees lo further any of the charity's purposes. Reslricled funds ale subjeolgd lo reslricllons on 111glr expendllure declared by the donor or Ihrougli the terms ol an appeal, and fall into one ol Iwo sub-classes.. reslrioled income fuiids or eiidowmenl funds. Incorning r850urc8S A15 incoming resources are included in the st8lemenl offinancial activities when entilletnent has passed to the charity,. it is probable that the economic benefiis associated with the transaction will flow lo the charity and Ihe amount oan be reliably measuied. Th8 following Specific policies are applied to partiCLJlar calegories ol income.. Income from donations or granls is recognised when there is evidenTr ol entitlement lo the gift, receipt is probable and ils amounl ¢8n be measured r81iably. Legacy incotne is recognised when receipt is probable and entillemenl is established. Income from donated goods is measured al the fair value ol the goods unless thi5 IS impraclical to measiire reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale vglue. Donated faoililies and s?￿le&S are recognised in the financial slaleinents when received if the value can be reliably measured. No 8mounls are included for the conlFibulion of gener81 volunteers. Income from conlracls lor the supply ol services is recognised with the delivery of the contracted sgtvice. This is ol8ssified as unrestricted funds unless Ihere is a conlraclual reqll1￿ment for it lo be spenl on a particular purpose and relurned if unspent, in which case 11 may be regarded as reslrieted. Governtnent grants Government grants are iecognised based on the accrual model and ar& measured al Ihe lair value of the assel received oi. receivable. Grants relating to revenue are recognised iii income over the period in wliicl) the related costs are recogiiised. Resources expellded Expenditure is recognised on an accruals basis as a liability is ii)curred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ol the statement ol financial activities lo which il relates. Expenditure on raising funds inclucles the costs of all fundraising 8clivilies. events, non- haiilable Ir8dlng aclivilies, and the sale of donated goods. Expenditure on charitable aclivilies includes all costs incurred by a charity in undertaking oclivilitrs Ihal fuFlher ils charitable aims lor the benefits ol its beneficiaries, including 11)ose support costs and costs relaling lo the governanoe of the charity apportioned to chaiitable Other expenditure includes all expenditure that is neither related lo raising lunds for the charity nor pait ol ils expenditure on charitable aclivities. All costs are Bllocaled to expenditure categories reflecting the use of the resource, DiTecl costs 8llribulable lo a single aclivily are allocated direclly to thal aclivily. Shaied costs are apporiianEd belween the aclivilies they contribute lo on a reasonable, jusliliable and consislenl bagis. 15 Gloucestershiro Ariimdl Welfare Association and Cheltenham Animal Shelter Company Limitpd by Guarantee Financial Statements for the year ended 31 December 2022 Notes to the Financial Statements Icontinuedl Tangible assets Tangible assets are inilially ecorded at Lost, and subsequerilly slated al cogt less any accumulaled deprecialion and impaiiment losses. Any tangible assets carried al revalued amounts are recorded al the lair value al the date of revaluation less any subsequent accumulated depreciation and subsequent 8ccumulaled impairmenl losses. Depreciation Depreciation is calculated so as to wrllg off the cost or valualSon of an asset, less 115 residual value, over th8 useful 8conomic life of that asset as follows.. Freehold propèty Plant and machinery 20/D straight line 10¢kn, 15V), 25Qk and 33.3°A slraighl line Investments Unllsled equily investments are initially recorded al cost. and subsequently measured al lair value. 11 fair value eannol be reliably measured, assets are measiired al cost less impairment. Listed investments aro rn8asurèd at lalr value with changes in fair value being recognised iii income or expenditure. lllvestments In associates Investments in a550ciales accounted for in accordance with the oosl model are recorded at cosl less any accumulated impairment losses. Dividends and olher distributions received from the investment are recogni%ed as income wllhoul gard lo whether the dislribulions are from 8ccumulat￿ profits of the associate arising before or after the dale of acquisition. Impairment of fixed assets A review for indicators ol impairment is csrried oul al each reporling date, with Ihe recoverable amount being esbmated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset 18 impaired accoidingly. Prior impairmenls are also reviewed for possiblè ievèisal at each reporting dale. For the purposes ol impairment lesling, when it is not possbble lo esllmale the recoverable amounl of an individual asset. an estimate is tnade of Ihe reLoverable amounl ol the cash-generaling unil lo which the assel belongs. The cash generating unil is the smalle51 identifiable yroup ol assets that includes the asset and generates cash inflows that largely independent of the cash infjows from other assets or groups of assets. For impairment testing of goo(Swill, the goodwill acquired in 8 business combinalion is, from the acqLiisilion dale. allocated lo each ol the cash-generating units that are expecled lo benefit from the syneruies ol Ihe combination, irrespectiv& ol whéther other assets or liabi1ilies of the charity are assigned lo those units. Financial Instrumènts A financial asset or a financial liability is recognised only when the enlily becomes a party to the contractual provisions ol the inslrijmenl. Basic financial inslrumenls are inili8lly iecognised at the amouiit receivable or payable inr.1uding any ielaled transaction costs, unless Ihe arrangement constilules a linanoing Iransaclion, where il is recognised at the present value ol the luluro payments discounled at a market rale of interest for a 5iTllilai debt instiutnenl. Cash at bank and in hand includes cash and bank depogil accounls and short term higlily liquid inveslinenls with a short matuiily of three monlhs or less from the dalp ol acquisition or opBnillg of the deposit or similar account. 16 Glour.eotershire Aiiimic I Welfare Association and Cheltenham Animal Shelter Comp(Iny Limited by Guarantee Financial Statements for the year ended 31 December 2022 Notes to the Fin¢incial Statements {continuedl Current assetg and current liabilities are subsequently rneasured at the cash or other consideration expected lo be paid or received and nol discounted. Where inveslmeiils in sharss or PTelerence shares are publicly traded or their fair value can otherwise be measured reliably, the inveslrnenl is subsequently measured al fair value with changes in fair value recognised in inromv and èxpendilure. All olher such inveslments are subsequenlly measured al cost less impairinenl. Financial assels that are measured al cost or amortised cost are reviewed lor objèctive evidence ol n)pairmenl al the end of each reporting dale. If there Is objeclive evidence ol impairment, an iinpaiiment loss is recognised under the appropriate heading in the slalemenl of financial activities in which the initial gain was recognised. DÈflned contribution plan5 Qonliibulions lu defined Gonlribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the exlenl that the prepaymenl will lead lo a reduction in fulure payrnenls or a cash refund. When rontributions are not expected to bp sellled wholly within 12 months ol the end c>f the reporting dale in which the employoES iendered the ielaled service, Ihe liabilily is measured 011 d discounted presènl value basis. The unwinding of the discount is rewgnised as an expense in the period in which il arises. Limited by guarantee Th@ charity is limited by guarantee. The members of the company are shown on the TrLJStees' Annual report. In the event of the Chaiily being wound up, the liability in respect ol Ihe guarantee is £10 per member of the Charily. Subsidiary- Ch8ltenham Animal Shelter Limited The Charily owns 100 /0 of the Issued share capital In Cheltttnham Animal Shelter Limiled (company rÈgislralion number.. 038045611, which undertakes the Charity's trading aclivllies. 11 covenanls ils taxable prolits lo the Chaiily. The subsidiary is ex8mpl from tlie requirements of the Companies Acl 2006 relating lo the audit ol ils in(Sividual linanLial slaleinenls by virtue ol section 47gA ol the Companies Act 2006. As50ciate- CASVET LLP The Ch3fily holds 8 33.33Vtr Interest in CASVET LLP (company registration number.. OC3072201. During the year the group received £116,63012021 £119,318) iepresenting 115 shale ol profits in CASVET LLP. Donations and legacies Unrestricted Funds Restricted Funds Total 2022 Total 2021 Donatlons Donations Grants CJRS Furlough Giant Incoive lax repayment Legacieg Legacie5 foGeivable 193,121 8,281 12,000 32.921 205,121 41,202 153,805 20,434 25,886 9,662 15,005 15,005 163,839 380,246 163,B39 425,167 234,227 444,014 44,921 During the year the eliarily received £nil12021 £25,8861 in relation lo Ihe CJRS Fuilough scheme which was a goveillmenl scherne to assist Companies with stall wages during the Covid-19 Palldemic. 17 Glou¢est?rshii'p Animal Vllelfare Association and Cheltenham Anlmal Shelter Company l_imited by GuaranÉ'LJe Financial Statempnts for the year ended 31 December 202 Notes to the Financial Statemen(s (continued) Charitable actlvltlès Total Funds 2D22 Total Fund5 ?.021 Unrestricted Fund5 UnresliS¢ted Funds Anirnals rehomed Stray lees and kennel relenlions Charity shop Centre events, chiislmas lair and open days CAS-VET renl Educalion 38,390 11,134 71,249 38.390 11,134 71,249 10,816 22,407 8,564 42,462 22.407 8,564 42,462 10,616 6.902 6,902 26,000 26,000 14,000 14,000 5,867 5.867 1,632 1,632 163,456 163,456 Investment Income Tgtal Funds 2022 Total Funds 2021 UnrestYict8d Funds Unrestricted Funfls Incorne Iiom listed investments Covenanted income from subsldiary Bank interest received 9,315 131,648 530 9,315 131,648 530 10,354 134,564 286 10,354 134,564 286 141,493 141,493 145,204 145,204 10. Other income Total Funds 2022 Total Fiintls 2021 Unrestricted Funds Unrestricted Funds Boarding lees Dog training Pelplan cotmtllission Other Sncomè 112,136 87 25.612 112,136 B7 25,612 32,476 54 32,476 54 22,865 268 55,663 268 55,663 137,839 137,839 Gloucestershire Animal Vvelfare Association and Cheltenham Anim(11 Shelter Company Limited by Guai£intee Financial Statements foi. th& year onded 31 December 2022 Notes to the Financial Statements (continued) 11. Investment management costs Tot31 Fuiids 2022 Total Funds 2021 Unrestricted Funds Unreslricled Funds Portfolio manageménl 7,082 7,082 8,244 B,244 12. Expenditu￿ charitablè acllvltles by fund type Total Funds 2022 Total FLinds 2021 Unrestricted Funds R85trict8d Funds Animal Welfare Supporl costs 1,010,523 6,670 41,959 1,052,482 6,670 910,359 6,069 1,017,193 41,959 1,059,152 916,428 13. Expenditure on charitabl8 activities by activity typB Activities Und6rtal£en Directly T(Ital funcjs 2022 Total Funds 2021 Support Animal Welfare Governance Costs 1,052,482 q,052,482 6,670 910,359 6,069 6,670 1,052,482 6.670 1,059,152 916,42B 14. AnalysSs of support costs Analysis of Support osts Anlmal Welfare 'rolal 2022 Total 2021 Goveinance cost5- Accountancy and atidil fees 6,670 6,670 6,069 19 Gloucestei-shire Animal Welfare Association and Cheltenham Animal Shelter Company Limited bij Guai'antee Financial Statements for the year entled 31 December 2022 Notes t.o the Financial Statements (continued) 15. other exp8nditur@ Total funds 2022 Tofal Fund5 2021 Unrestyicted Funds Unrestricted Funds Bank chaiges Insurance Printing, slalionery, postage and 8dvertlsing Telephone Le9al and professional fees 5,611 10,291 5,611 10,291 3,724 9,756 3.724 9.756 4,688 8,183 8,101 19,601 8,183 8,101 19,601 4.688 1,295 4,931 1,295 4,931 S1,787 51,787 24,394 24,394 16. Nat Ilossllgains on investments Total Funds 2022 Total Flsnds 2021 Unrestricted Funds Unrestrlcted Funds ILossllg8iD on revaluation of inve5tmenls Gain on disposal of inveslmenls 1171,8841 47,492 1171,8841 47,492 64,727 64,727 48,322 1124,3921 1124.3921 113,049 113,049 17. Net Income Nel income Is slalèd aller charging.. 2022 2021 Depreciation of tangible fixed assets 18. Audilors I"emuneration 2022 2021 Fees payable foi the audil ol the financial statement8 Other financial services 5,185 1,485 6,670 4,800 1,269 6,069 20 GloucestersFiire Animal Welfare Association and Cheltenham Aninial Shplter Company l.iniited by Guarantee Financial Statements for the yp.ar endèd 31 December 2022 Notes to the Financial Statements (continued) 19. Staff costs The tolal staff costs and emplc>yee benefils for the ￿porting period are analysed as follows.. 2022 2021 Wages and salaries Social secLirity costs Employer conlribiilion5 to pension plans 688,386 51,588 18,577 75B 550 599,659 42,908 17,820 66D 3B7 The avera9e head counl for employees duririg the year was 4012021.. 411. No employee received employee benefits of more Ihan £80.000 during the year12021.' £60,000). Key Management Personnel l(ey maDagemenl personnel include all persons that have authority and responsibilily lor planning, dir2¢ling and controlling the activities of the charity. The total compensalion paid lo kpy management personnel for services piovided lo the charity was £117,651 12021.. £112,681). 20. Trust•e romuneratlon and expenses No remuneration. expenses or benefits Irorn employment with the charity or a related entity were f8C6ived by Ihe truslees. 21 Gloucestershire Aiiimal W(.17(IrL Association and Cheltenham Animal Slielte¥ Coinpany Limited by Guarcintee Financial Statements for the year anded 31 December 2022 Notes to tlie Financial Statements {conlinued} 21. Tangible fixed assèts Land and Buildings Equipment Total Cost Al fj JaDu8ry 2022 Additions Disposals At 31 December 2022 2,061,436 3a,458 231,159 11,745 2,292,595 42,203 2,091,894 242,904 2,334 798 Depreciation At 1 January 2022 Charged lor the year Eliminated on disposal At 31 December 2022 648,160 41.737 18fj,927 19.444 830,087 61.181 689,897 201,371 891268 C8rrylng amount At 31 De￿rnber 2022 1401 997 1443 530 1,462,509 Al 31 December 2021 1,413,276 22. Investments Shares in group underakings Listed investtnerits Total Cost or valuation At 1 January 2022 Additions Disposals Nel losses on Investments At 31 D&cember 2022 1,001,012 100 1,001,112 1101,1111 124,392 775,509 124,392 775 609 100 Cai'rying amount Al 31 December 2022 At 31 December 2021 775 509 100 775,609 1,0001,112 1,001,012 100 All investments shown above are held al valualion. 22 Gloucestersliire Animal Wel'liirè Association and Chèltenham Animal Shelter Company Limitpd k)y GLiarai)tee Financial Statements for the year ended 31 December 2022 Notes to the Financial Statemonts (continued) Company The wholly owned subsidiary, Chellenham Animal Shelter Limited, is a company registered in England and Wales. 11 is used lo opeiale the non-charitable aclivilies ol the animal sheller. Cheltenham Animal Shelter Limited l)as 100 shares of £1 in issue, which is held by Gloycpslershl Animal Welfare Associalioii aiid Chellenham Animal Sheller. For the year ending 31 December 2022, the actlvilies and results ol Chellenham Anlmal Shelter Limited were.. 2022 2021 Turnover Other income Cost ol sales other charges 146,162 116,630 111,0491 1251,7431 92,530 119,318 13,9911 1207,8571 ProfifLo8s after lax At 31 December 2022. Cheltenham Animal Shelter Lirniled had the following assets and liabillties.. 2022 2021 Non-current assets Current assets Prepayments and accrued income Credilors.. Arnounls falling due within one year Accruals and deferred income 1 86.584 142,621 1156,5851 1142,5221 100 Capital and reserves 100 fjoo 23 GlouLestershire. A¥iimal Wf.Ifare Assoclation and Cheltenham Animal Shelter Company Limited by Guai-antee Financial Statements for the year ended 31 Deceinber 2022 Notes to the Financial Statements (continued) 23. Debtors 2022 Trade debtors Amounts Ciwed by group undertakings Prepayments and accrued incotnè Other debtors 4,841 131,648 40,115 2,753 179,357 10,358 134,5eA 25,754 6,295 176,969 24. Cyèdltors.. amounts falling due within one year 2022 2021 Trade creditors Accruals and defetred income Social securlty and other taxes Other creditors 16,779 20,216 9,094 24,140 8,796 10,698 12,166 55,800 58,703 Included williin other creditors is £12,26212021'. £e,4931 in relation lo a grant received from D Woulle for Ihe sole use ol paying Vel fees. 25. P&nslons and ollier post-relirement henefi15 Defined contrFbution plans The amount iecognised in Incomo or oxpenditure as an expense in relation lo defined contribution plans was £18,57712021'. £17,820). 26. Obligations under leases Operat5ng leasès The lolal ol fulure minimum lease payments is as follows.. 2022 2021 Not later than one year Lalein than one year and not later than live years Later than five years 348 1.131 1,479 24 Glouepstprshirp. Aniriial Wplfare Association and Cheltenham Arlinial Shelter Company Limited by Guai'anteo Financial Statements for thp. yews'. 2022 2021 Flnanclal asset5 measured at fair value through income and expenditure FinanLial assets measured al fair value Ihrougli income and expendiluie 775 609 fj,001,112 Financial assets that are debt instruments measured at amortis8d c05t Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other dgblors 4,841 131,648 40,1fj5 2,753 179,357 10.356 134,564 25.754 6,295 176,969 Financial liabilities measured at amort15ed c05t Trade creditors Accruals and deferred income Social securily and other taxes Other credit015 16,779 20,216 9,094 12,614 5e,703 24,140 8,796 10,698 12.166 5Jf,800 26 Glouce vtershire Aniinal Wolfare Association clnd CheltènhdNI Animal Shelter Company Limited by Guarantee Financial Statements foi. tlie year ended 31 December 2022 Notes to the Financial Statements Icontinuedl 30. Rèlated parly transacti0115 Information about relaled party transaclions and outstanding balances is outlined below.. Owed to Charlty Owed by Chaylty Income Expèndlture Cheltenham Animal Sheller Limited Al 31 Decernber 2022 At 31 December 2021 131.648 134.564 131,648 134,564 870 870 CASVET LLP At 31 December 2D22 Al 31 Deceinber 2021 26.000 14,000 3,841 3,168 5,469 4,065 Oulslanding balances due lo and from the oompally are unsecured and ale sellled In cash. The amounls are payable or repayable 011 demaiid and no inlere51 is charged. 27 GIoLicestershire Allimiil Welfare Association and Cheltenham Animal Shelter Company Limited by Guaranto,e rinancial Statements for the year ended 31 December 2022 Management Information The following pages do not form part of the financial statements. 28 Gloiicestershire Animal Welfar& Association and Cheltenham Animal Shelter Company Linjitecl by Guarantee Financial Statoments for the year ènded 31 December 2022 Detailed Statement of Finan¢ial Activities 2022 2021 Income and endowments Donations and legacies Donations Grants Income tax repayment Legacies receivable 205,121 41,202 15,005 163,839 425.167 153,805 46,320 9,662 234,227 444,014 Charilable a¢llvilies Animals rehomed Stray fees and l(ennpl relenllons Charity shop Centre events, christmas fair and open dhy CAS-VET rent Education 38.39 11,134 71,249 10,816 26,000 5,867 163,456 22,407 8,564 6,902 14,000 1,632 95,967 Investmènt Incomè Income from listed investments Covènanted income from subsidiary Bank interest received 9,315 131,649 530 141,493 10,354 134,564 286 145,204 other Income Boarding lees Dog tr3inlng Petpl8n commission Other income 112,136 87 25,612 32,476 54 22,865 268 55,663 137,83g Total incomg 867,955 74D,848 29 Gloucestershire Animal Welfare Association arbd Cheltenham Animal Shelter Company Limited by Guarantee Financial Statements for the year ended 31 December 2022 Notes to the Detalled Statement of Flnanclal A¢tivlties 2022 2021 Expenditure Investment management costs Porttolio managetmenl 7,082 8,244 Expendlture on charltable actlvltles- Anlmal Welfare Purchases Wages and salaries Employer's NIC Pension costs Rates and water Lighl and heal Repairs and maintenance Stall clothing Other es18blishmenl 8xpenses Motor vehicle expenses Christmas laii anol open day Olher ollice costs Depreciatlon Food and pel supplies Vel lees Machine and equipment hire Staff tiaining 383 688,386 51.588 18,577 11,921 34,733 19,408 2,284 8.306 6.802 23.023 19,284 61,182 7,962 75,103 16.015 7,52e 1,052,482 599.659 42,908 17,820 9,403 30,637 33,207 1,916 7,548 7,287 12,171 14,536 62,337 3,396 51,795 14,695 1,044 g10.359 Expenditure on charitable activities- Governance costs Ac¢ounlan¢y and aud￿ lees 6,670 6.069 Total expenditure on charltable actlvities 1,059,152 918.057 othey expendltuye Bank charges Insurance Printing, slalionery, postage and advertising Telephone Legal and professional fees Othèr expenditure 5,614 10,291 8,183 8,101 19,601 3.724 9,756 4,688 1,295 4,931 51.787 24,394 Total expenditure 1.118.021 949,066 (Deflcltllsurplus on revaluation of investments 1124,392) 113,049 Net Income I lexpenditurel 1374.4581 195,1691 30