**REGISTERED COMPANY NUMBER: 04994772 (Scotland) REGISTERED CHARITY NUMBER: SC039806**
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for European Squirrel Initiative
Helen Sida Chartered Accountants Bramble Cottage Middle Road Denton Harleston Norfolk IP20 0AJ
European Squirrel Initiative
Contents of the Financial Statements for the Year Ended 31 March 2021
||Page|
|---|---|
|Chairman's Report|1|
|Report of the Trustees|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6 to 7|
|Notes to the Financial Statements|8 to 11|
|Detailed Statement of Financial Activities|12 to 13|
European Squirrel Initiative
## Chairman's Report
## for the Year Ended 31 March 2021
At the year end the investment portfolio has been revalued to reflect market value. The major area of activity was the granting of research funds to The University of Edinburgh amounting to £13,334.
Page 1
European Squirrel Initiative
## Report of the Trustees
## for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
04994772 (Scotland)
## **Registered Charity number**
SC039806
## **Registered office**
Henstead Old Recotory Hulver Road Henstead Beccles Suffolk NR34 7LA
## **Trustees**
G Taylor - appointed 30.6.20 J Bayley J C F Dutton G N Farr A G Wiseman A Falcon - appointed 1.6.20
## **Company Secretary**
A Kendall
## **Independent examiner**
Helen Sida Chartered Accountants ICAEW Helen Sida Chartered Accountants Bramble Cottage Middle Road Denton Harleston Norfolk IP20 0AJ
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 2
European Squirrel Initiative
## Report of the Trustees
for the Year Ended 31 March 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 2 November 2021 and signed on its behalf by:
A Falcon - Trustee
Page 3
## Independent Examiner's Report to the Trustees of European Squirrel Initiative
I report on the accounts of the company for the year ended 31 March 2021, which are set out on pages five to eleven.
## **Responsibilities and basis of report**
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 386 of the Companies Act 2006; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Helen Sida Chartered Accountants ICAEW Helen Sida Chartered Accountants Bramble Cottage Middle Road Denton Harleston Norfolk IP20 0AJ
Date: .............................................
Page 4
European Squirrel Initiative
## Statement of Financial Activities
## for the Year Ended 31 March 2021
|**Unrestricted**
**Restricted**
**fund**
**fund**
Notes
**£**
**£**
**INCOMING RESOURCES**
**Incoming resources from generated**
**funds**
Voluntary income
**38,927**
**-**
Activities for generating funds
2
**551**
**-**
Investment income
3
**473**
**-**
**Total incoming resources**
**39,951**
**-**
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
**-**
**-**
**Charitable activities**
General activity
**26,869**
**-**
**Governance costs**
**2,108**
**-**
**Total resources expended**
**28,977**
**-**
**NET INCOMING RESOURCES**
**10,974**
**-**
**Other recognised gains/losses**
Gains/losses on investment assets
**(8,423)**
**-**
**Net movement in funds**
**2,551**
**-**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**51,768**
**-**
**TOTAL FUNDS CARRIED**
**FORWARD**
**54,319**
**-**|**31.3.21**
**Total**
**funds**
**£**
**38,927**
**551**
**473**
**39,951**
**-**
**26,869**
**2,108**
**28,977**
**10,974**
**(8,423)**
**2,551**
**51,768**
**54,319**|31.3.20
Total
funds
£
28,840
750
1,482|
|---|---|---|
|||31,072
215
19,784
3,419|
|||23,418|
|||7,654
-|
|||7,654
44,114|
|||51,768|
The notes form part of these financial statements
Page 5
European Squirrel Initiative
## Balance Sheet
## At 31 March 2021
|**Unrestricted**
**Restricted**
**fund**
**fund**
Notes
**£**
**£**
**FIXED ASSETS**
Investments
5
**19,357**
**-**
**CURRENT ASSETS**
Cash at bank
**34,962**
**-**
**NET CURRENT ASSETS**
**34,962**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**54,319**
**-**
**NET ASSETS**
**54,319**
**-**
**FUNDS**
6
Unrestricted funds
**TOTAL FUNDS**|**31.3.21**
**Total**
**funds**
**£**
**19,357**
**34,962**
**34,962**
**54,319**
**54,319**
**54,319**
**54,319**|31.3.20
Total
funds
£
27,306
24,462|
|---|---|---|
|||24,462|
|||51,768|
|||51,768|
|||51,768|
|||51,768|
The notes form part of these financial statements
Page 6
continued...
European Squirrel Initiative
## Balance Sheet - continued
## At 31 March 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the Board of Trustees on 2 November 2021 and were signed on its behalf by:
A Falcon -Trustee
The notes form part of these financial statements
Page 7
European Squirrel Initiative
Notes to the Financial Statements for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. ACTIVITIES FOR GENERATING FUNDS**
||**31.3.21**|31.3.20|
|---|---|---|
||**£**|£|
|Shop income|**189**|400|
|Grey ecology|**328**|20|
|Red squirrel ecology|**34**|330|
||**551**|750|
Page 8
European Squirrel Initiative
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **3. INVESTMENT INCOME**
||**31.3.21**|31.3.20|
|---|---|---|
||**£**|£|
|Other fixed asset invest - FII|**473**|1,471|
|Deposit account interest|**-**|11|
||**473**|1,482|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
## **5. FIXED ASSET INVESTMENTS**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**MARKET VALUE**||
|At 1 April 2020|**27,306**|
|Revaluations|**(7,949)**|
|At 31 March 2021|**19,357**|
|**NET BOOK VALUE**||
|At 31 March 2021|**19,357**|
|||
|At 31 March 2020|27,306|
|||
|There were no investment assets outside the UK.||
Page 9
European Squirrel Initiative
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **6. MOVEMENT IN FUNDS**
|||||**Net**|||
|---|---|---|---|---|---|---|
|||||**movement**|||
||||**At 1.4.20**|**in funds**|**At 31.3.21**||
||||**£**|**£**||**£**|
|**Unrestricted funds**|||||||
|General fund|||**51,768**|**2,551**|**54,319**||
|**TOTAL FUNDS**|||**51,768**|**2,551**|**54,319**||
||||||||
|Net movement in funds, included in the|above are as|follows:|||||
||**Incoming**|**Resources**||**Gains and**|**Movement**||
||**resources**||**expended**|**losses**|**in funds**||
||**£**||**£**|**£**||**£**|
|**Unrestricted funds**|||||||
|General fund|**39,951**||**(28,977)**|**(8,423)**||**2,551**|
|**TOTAL FUNDS**|**39,951**||**(28,977)**|**(8,423)**||**2,551**|
||||||||
|**Comparatives for movement in funds**|||||||
|||||**Net**|||
|||||**movement**|||
||||**At 1.4.19**|**in funds**|**At 31.3.20**||
||||**£**|**£**||**£**|
|**Unrestricted Funds**|||||||
|General fund|||**44,114**|**7,654**|**51,768**||
|**TOTAL FUNDS**|||**44,114**|**7,654**|**51,768**||
||||||||
||||||||
Page 10
European Squirrel Initiative
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **6. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|Movement|
|---|---|---|---|
||**resources**|**expended**|in funds|
||**£**|**£**|£|
|**Unrestricted funds**||||
|General fund|**31,072**|**(23,418)**|**7,654**|
|**TOTAL FUNDS**|**31,072**|**(23,418)**|**7,654**|
|||||
|||||
A current year 12 months and prior year 12 months combined position is as follows:
|**Net**
**movement**
**At 1.4.19**
**in funds**
**At**
**£**
**£**
**Unrestricted funds**
General fund
**44,114**
**10,205**
**TOTAL FUNDS**
**44,114**
**10,205**|**31.3.21**
**£**
**54,319**|
|---|---|
||**54,319**|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Gains and**|**Movement**|
|---|---|---|---|---|
||**resources**|**expended**|**losses**|**in funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|**71,023**|**(52,395)**|**(8,423)**|**10,205**|
|**TOTAL FUNDS**|**71,023**|**(52,395)**|**(8,423)**|**10,205**|
## **7. RELATED PARTY DISCLOSURES**
During the period under review sums totalling £13,069.60 were paid to businesses connected to Mr A T Kendall. All transactions were at arms length, approved by the board of trustees and were in the normal course of the activity or promotion of the aims of the charity.
Page 11
European Squirrel Initiative
## Detailed Statement of Financial Activities for the Year Ended 31 March 2021
|**INCOMING RESOURCES**
**Voluntary income**
Donations
Gift aid
**Activities for generating funds**
Shop income
Grey ecology
Red squirrel ecology
**Investment income**
Other fixed asset invest - FII
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs of generating voluntary income**
Postage and stationery
**Charitable activities**
Postage and stationery
Research
Administration
Travel
Meeting expenses|**31.3.21**
**£**
**38,314**
**613**
**38,927**
**189**
**328**
**34**
**551**
**473**
**-**
**473**
**39,951**
**-**
**370**
**13,334**
**2,450**
**-**
**-**
**16,154**|31.3.20
£
28,840
-|
|---|---|---|
|||28,840
400
20
330|
|||750
1,471
11|
|||1,482|
|||31,072
215
-
-
6,795
528
1,420|
|||8,743|
This page does not form part of the statutory financial statements
Page 12
## European Squirrel Initiative
## Detailed Statement of Financial Activities
## for the Year Ended 31 March 2021
|**Governance costs**
Squirrel newsletter
**Support costs**
**Management**
Publicity & representation
Advertising
**Total resources expended**
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**Net income**|**31.3.21**
**£**
**2,108**
**10,703**
**12**
**10,715**
**28,977**
**10,974**
**(8,423)**
**2,551**|31.3.20
£
3,419
11,041
-|
|---|---|---|
|||11,041|
|||23,418|
|||7,654
-|
|||7,654|
This page does not form part of the statutory financial statements
Page 13