# **REGISTERED COMPANY NUMBER: 04994772 (Scotland) REGISTERED CHARITY NUMBER: SC039806** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 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 2023 ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3 to 4| |Statement of Financial Activities|5| |Balance Sheet|6 to 7| |Notes to the Financial Statements|8 to 13| |Detailed Statement of Financial Activities|14 to 15| European Squirrel Initiative ## Report of the Trustees for the Year Ended 31 March 2023 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 2023. The trustees have adopted the provisions of 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). ## **FINANCIAL REVIEW** ## **Reserves policy** The trustees have agreed a policy that three month operating reserves is desirable current unrestricted reserves meet this requirement. ## **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. ## **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 J Bayley J C F Dutton G N Farr A Falcon ## **Company Secretary** A Kendall Page 1 European Squirrel Initiative ## Report of the Trustees for the Year Ended 31 March 2023 ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Independent Examiner** Helen Sida Chartered Accountants Helen Sida Chartered Accountants Bramble Cottage Middle Road Denton Harleston Norfolk IP20 0AJ Approved by order of the board of trustees on 15 November 2023 and signed on its behalf by: A Falcon - Trustee Page 2 Independent Examiner's Report to the Trustees of European Squirrel Initiative ## **Independent examiner's report to the trustees of European Squirrel Initiative ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its 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 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 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. Page 3 Independent Examiner's Report to the Trustees of European Squirrel Initiative ## **Independent examiner's statement - matters of concern identified** I have completed my examination. As at the year end the Charity was in the process of changing bankers. This had not been completed by 31st March 2023.As at the date of this report (15th November 2023) alternative arrangements have not been made.To facilitate the charity operating during this period A T Kendall has provided funding, which will be repaid in due course. I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Helen Sida Chartered Accountants Helen Sida Chartered Accountants Bramble Cottage Middle Road Denton Harleston Norfolk IP20 0AJ 15 November 2023 Page 4 European Squirrel Initiative ## Statement of Financial Activities for the Year Ended 31 March 2023 |Unrestricted
Restricted
fund
fund
Notes
£
£
**INCOME AND ENDOWMENTS**
**FROM**
Donations and legacies
**36,885**
**-**
Other trading activities
2
**578**
**-**
Investment income
3
**2,596**
**-**
**Total**
**40,059**
**-**
**EXPENDITURE ON**
Raising funds
4
**11,356**
**-**
**Charitable activities**
General activity
**29,920**
**-**
**Total**
**41,276**
**-**
**NET INCOME/(EXPENDITURE)**
**(1,217)**
**-**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**51,127**
**-**
**TOTAL FUNDS CARRIED**
**FORWARD**
**49,910**
**-**|**31.3.23**
31.3.22
**Total**
Total
**funds**
funds
**£**
£
**36,885**
18,178
**578**
723
**2,596**
7,572
**40,059**
26,473
**11,356**
-
**29,920**
29,667
**41,276**
29,667
**(1,217)**
(3,194)
**51,127**
54,321
**49,910**
51,127| |---|---| The notes form part of these financial statements Page 5 ## European Squirrel Initiative ## Balance Sheet ## 31 March 2023 |Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Investments
7
**29,524**
**-**
**CURRENT ASSETS**
Cash at bank
**20,386**
**-**
**CREDITORS**
Amounts falling due within one year
8
**-**
**-**
**NET CURRENT ASSETS**
**20,386**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**49,910**
**-**
**NET ASSETS**
**49,910**
**-**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|**31.3.23**
**Total**
**funds**
**£**
**29,524**
**20,386**
**-**
**20,386**
**49,910**
**49,910**
**49,910**
**49,910**|31.3.22
Total
funds
£
26,929
24,199
(1)
24,198
51,127
51,127
51,127
51,127| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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. The notes form part of these financial statements Page 6 continued... European Squirrel Initiative ## Balance Sheet - continued 31 March 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 15 November 2023 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 2023 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is 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. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued... Page 8 European Squirrel Initiative ## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **2. OTHER TRADING ACTIVITIES** |**2.**|**OTHER TRADING ACTIVITIES**||| |---|---|---|---| |||**31.3.23**|31.3.22| |||**£**|£| ||Shop and newsletter|**578**|723| ||||| |**3.**|**INVESTMENT INCOME**||| |||**31.3.23**|31.3.22| |||**£**|£| ||Other fixed asset invest - FII|**2,596**|7,572| ||||| |**4.**|**RAISING FUNDS**||| ||**Raising donations and legacies**||| |||**31.3.23**|31.3.22| |||**£**|£| ||Support costs|**483**|-| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,178
-
Other trading activities
723
-
Investment income
7,572
-
**Total**
26,473
-|Total
funds
£
18,178
723
7,572| |---|---| ||26,473| ## **EXPENDITURE ON** continued... Page 9 European Squirrel Initiative ## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 |**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|**-**| |---|---|---|---|---| ||**continued**|||| |||Unrestricted|Restricted|Total| |||fund|fund|funds| |||£|£|£| ||**Charitable activities**|||| ||General activity|||| |||29,667|-|29,667| ||**NET INCOME/(EXPENDITURE)**|(3,194)|-|(3,194)| ||**RECONCILIATION OF FUNDS**|||| ||Total funds brought forward|54,321|-|54,321| ||**TOTAL FUNDS CARRIED**|||| ||**FORWARD**|51,127|-|51,127| |||||| |**7.**|**FIXED ASSET INVESTMENTS**|||| |||||Listed| |||||investments| |||||£| ||**MARKET VALUE**|||| ||At 1 April 2022|||**26,929**| ||Additions|||**2,595**| ||At 31 March 2023|||**29,524**| ||**NET BOOK VALUE**|||| ||At 31 March 2023|||**29,524**| ||At 31 March 2022|||26,929| ||There were no investment assets outside the UK.|||| continued... Page 10 European Squirrel Initiative ## Notes to the Financial Statements - continued for the Year Ended 31 March 2023 |**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|| |---|---|---|---|---| ||||**31.3.23**|31.3.22| ||||**£**|£| ||Trade creditors||**-**|1| |||||| |**9.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.4.22|in funds|31.3.23| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**51,127**|**(1,217)**|**49,910**| ||**TOTAL FUNDS**|**51,127**|**(1,217)**|**49,910**| |||||| ||Net movement in funds, included in the above|are as follows:||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**40,059**|**(41,276)**|**(1,217)**| ||**TOTAL FUNDS**|**40,059**|**(41,276)**|**(1,217)**| |||||| ||**Comparatives for movement in funds**|||| ||||Net|| ||||movement|At| |||At 1.4.21|in funds|31.3.22| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|54,321|(3,194)|51,127| ||**TOTAL FUNDS**|54,321|(3,194)|51,127| continued... Page 11 European Squirrel Initiative Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **9. 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|26,473|(29,667)|(3,194)| |**TOTAL FUNDS**|26,473|(29,667)|(3,194)| ||||| |A current year 12 months and prior year 12 months combined position||is as follows:|| |||Net|| |||movement|At| ||At 1.4.21|in funds|31.3.23| ||£|£|£| |**Unrestricted funds**|||| |General fund|54,321|(4,411)|49,910| |**TOTAL FUNDS**|54,321|(4,411)|49,910| ||||| |A current year 12 months and prior year|12 months combined|net movement in fund|| |included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|66,532|(70,943)|(4,411)| |**TOTAL FUNDS**|66,532|(70,943)|(4,411)| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: continued... Page 12 European Squirrel Initiative Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **10. RELATED PARTY DISCLOSURES** During the year the sum of £7,550 was paid to A T Kendall an officer of the charity for professional service. During the year a further £4,052.50 was paid to ATK Communication Limited a company owned and controlled by A T Kendall an officer of the charity, these payments were for professional services. Page 13 European Squirrel Initiative |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 31 March 2023||| ||31.3.23|31.3.22| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gifts|**(1)**|-| |Donations|**36,906**|17,778| |Books and newsletter|**(20)**|400| ||**36,885**|18,178| |**Other trading activities**||| |Shop and newsletter|**578**|723| |**Investment income**||| |Other fixed asset invest - FII|**2,596**|7,572| |**Total incoming resources**|**40,059**|26,473| |**EXPENDITURE**||| |**Charitable activities**||| |Postage and stationery|**122**|99| |Sundries|**72**|-| |Research grant|**13,333**|14,333| |Administration|**5,169**|3,050| ||**18,696**|17,482| |**Support costs**||| |**Management**||| |Publicity & representation|**8,083**|7,830| |**Information technology**||| |Postage and stationery|**-**|127| |**Other**||| |Accountancy|**602**|229| |Squirrel newsletter|**2,412**|3,999| ||**3,014**|4,228| This page does not form part of the statutory financial statements Page 14 European Squirrel Initiative |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 31 March 2023||| ||31.3.23|31.3.22| ||£|£| |**Other**||| |**Governance costs**||| |Fundraiser wages|**11,000**|-| |Pensions|**483**|-| ||**11,483**|-| |Total resources expended|**41,276**|29,667| |**Net expenditure**|**(1,217)**|(3,194)| This page does not form part of the statutory financial statements Page 15