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2021-03-31-accounts

CHARITY NUMBER 01110837

TAG PET RESCUE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

DUDLEY GORE & CO. 50 QUEEN STREET RAMSGATE KENT CT11 9EE

TAG PET RESCUE

CONTENTS PAGE
Trustees annual report 1
Independent Examiner’s report to the Trustees 3
Income and expenditure account 4
Balance sheet 5
Notes to the financial statements 6 - 13
The following pages do not form part of the accounts:
Detailed statement of financial activities 14 – 16

TAG PET RESCUE

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and Administrative Details

Registered charity name

TAG Pet Rescue

Charity registration number 1110837

Trustees

The Trustees who served the charity during the period were as follows:

Mr R Goodban Ms D P Channing-Sykes Ms S Pennington Mrs C M Kiddell

Registered Office

Lydden Farm Valley Road, Lydden Margate, Kent CT9 4LF

Structure, Governance and Management

The organisation was set up in 1988 and registered as a charity on 11[th] August 2005. The charity is managed by the Trustees under the terms of the governing trust deed dated 10[th] August 2005.

Objects and Activities

The objects of the charity are

  1. To provide and maintain an animal shelter for the care and shelter of stray, neglected and unwanted animals and the protection of animals from ill-usage, cruelty and suffering.

  2. To advance the education of the public in matters relating to animal welfare in general.

  3. To advance the education and training of young persons through the provision of school placements to children.

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TAG PET RESCUE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021 [CONT]

  1. To relieve the financial hardship of persons who are unable to afford the fees for spaying and neutering through the provision of a subsidised service.

Achievements and Performance

We made the decision not to undertake any new projects during the year due to the uncertain nature of restrictions enforced through the Covid-19 pandemic. However, the receipt of Government grants together with the generosity of the general public has allowed us to maintain a sound financial position.

Financial Review

Income was received from sanctuary and charity shop donations, legacies and Government grants. The result for the year was a surplus of £110,085. Reserves at the year end amount to £220,575 which is considered adequate, although competition from other charities always remains a concern.

Plans for Future Periods

Our plans for the coming year are to replace the guinea pig accommodation together with the rabbit exercise areas. They have served us well for many years but, being made of wood, they are now crumbling and new ones are required.

Fixed Assets

The movement in fixed assets is shown in the notes to the financial statements.

The company’s surplus for the year, after taxation, amounted to £110,085. [2020 – Surplus £16,586]

Independent Examiner

The independent examiner, Peter R Smith, has indicated his willingness to accept re-appointment for the ensuing year and a resolution will be proposed at the Annual General Meeting.

APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF

R Goodban R GOODBAN

Date: 20/01/2022

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TAG PET RESCUE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TAG PET RESCUE

I report on the accounts of the charity for the year ended 31 March 2021 which are set out on the following pages.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144[2] of the Charities Act 2011 [the Charities Act] and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINATION

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention

[1] which gives me reasonable cause to believe that in any material respect the requirements:

[2] to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

PR Smith

Date: 20[th] January 2022

PETER R SMITH

ICPA [Fellow] 50 Queen Street Ramsgate, Kent CT11 9EE

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TAG PET RESCUE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

UNRESTRICTED
RESTRICTED
TOTAL

FUNDS
FUNDS
2021£
2021£
2021 £

INCOMINGRESOURCES
Incoming resources from generating funds:
Voluntary income
2 125,958
125,958

Charitable activities
3 107,326
107,326

Investment income
4 16
16

Grants
99,270
99,270

______

TOTAL INCOMINGRESOURCES
332,570
332,570

______

RESOURCESEXPENDED
Cost of generating funds:
Fundraising trading:
Costs of goods sold & other costs
5 [71,393]
[71,393]

Charitable activities
6/7 [147,895]
[147,895]

Professional fees
8 [3,197]
[3,197]

______

TOTALRESOURCESEXPENDED
[222,485]
[222,485]

______

NETINCOMING/[OUTGOING]
RESOURCES FOR THE YEAR
9 110,085
110,085

TRANSFERBETWEENFUNDS
-
-

RECONCILIATION OFFUNDS
Total funds brought forward
110,490
110,490

_______

TOTALFUNDSCARRIEDFORWARD
220,575
-
220,575
_________
 TOTAL
2020 £
88,128
161,381
76
-
_
249,585
_
[64,714]
[164,472]
[3,813]
_
[232,999]
_
16,586
-
93,904
_
110,490
_

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All the above amounts relate to continuing activities.

The notes on pages 6 to 13 form part of these financial statements.

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TAG PET RESCUE

BALANCE SHEET AT 31 MARCH 2021

NOTE
FIXEDASSETS
Tangible Assets
11
CURRENTASSETS
Debtors
12
19,402
Cash at bank and in hand
15
203,610
_
223,012
CREDITORS
Amounts falling due within
one year
13
6,299
_
NETCURRENTASSETS
NETASSETS
FUNDS
Restricted income funds
16
Unrestricted income funds
17
TOTALFUNDS
18		 2021
2020
£
£
3,862
5,300
6,689
103,112
_
109,801
4,611
_
216,713
105,190
_
_
220,575
110,490
_
_
-
-
220,575
110,490
_
_
220,575
110,490
_
_

These financial statements were approved by the Trustees and authorised for issue on ____ and are signed on their behalf by

R Goodban C M Kiddell

___ _______ R GOODBAN -Trustee CM KIDDELL - Trustee

R GOODBAN -Trustee

The notes on pages 6 to 13 form part of these financial statements

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied throughout.

a] Basis of Accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note[s] to these accounts.

The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 1.

No changes to accounting estimates have occurred in the reporting period.

No material prior year errors have been identified in the reporting period.

The adoption of FRS 102 has not resulted in the change to any fund balance to those previously stated.

b] Income

Items of income are recognised and included in the Statement of Financial Activities (SOFA) when:

There has been no offsetting of assets and liabilities or income and expenses.

Grants and donations are only included in the SOFA when the general income recognition criteria are met.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Donated goods are measured at fair value (the amount for which the assets could be exchanged) unless impractical to do so. In this respect it is considered impractical to attach a value to the numerous small second hand items regularly donated for sale in the charity’s shops. The income from sale of these items is recognised under income from trading activities. There were no donated services or facilities in the reporting period.

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

The charity has incurred expenditure on support costs.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

c] Expenditure and liabilities

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

The charity made no redundancy payments during the reporting period.

No material item of deferred income has been included in the accounts.

The charity has creditors which are measured at settlement amounts less any trade discounts.

Tangible Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation has been calculated to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Motor vehicles and equipment

Operating lease agreements

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease.

Stocks

There are no purchased stocks of goods for resale. Donated goods for resale are only considered to have a value at the point they are sold. The value prior to this is too uncertain.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

2. VOLUNTARY INCOME

The company’s turnover represents the value of goods and services supplied to customers during the year.

UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2021£
2021£
2021£
Donations
Sanctuary donations
111,858
111,858
HMRC Gift Aid
7,269
7,269
Legacies
Legacies
6,831
6,831
_____
125,958
125,958
_____
3. INCOMINGRESOURCES FROM ACTIVITIES FOR GENERATING FUNDS
UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2021£
2021£
2021£
Shop income
107,326
107,326
Sanctuary Open Day
-
-

Other fundraising
-
-
_____
107,326
107,326
_____
4. INVESTMENTINCOME
UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2021£
2021£
2021£
Bank interest receivable
16
16
_____
5. FUNDRAISINGTRADING: COST OF GOODS SOLD AND OTHER COSTS
UNRESTRICTED
TOTAL
FUNDS
2021£
2021£
Shop costs
70,597
70,597
Sanctuary Open Day
-
-

Other fundraising expenses
796
796
______
71,393
71,393
_________		 TOTAL
2020£
68,128
-
20,000
_
88,128
_
TOTAL
2020£
156,856
4,525
-
_
161,381
_
TOTAL
2020£
76
__
TOTAL
2020£
64,383
160
171
_
64,714
_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

6. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

UNRESTRICTED
TOTAL

FUNDS
2021£
2021£

Animal sanctuary costs [including depreciation
as shown in note 9]
147,895
147,895

_____

7. COSTS OFCHARITABLEACTIVITIES BY ACTIVITY TYPE
UNRESTRICTED
TOTAL

FUNDS
2021£
2021£

Animal sanctuary costs [including depreciation
as shown in Note 9]
147,895
147,895

____

8. OTHERCOSTS
UNRESTRICTED
TOTAL

FUNDS
2021£
2021£

Independent examiner’s fee
900
900

Other fees paid to independent examiner
1,387
1,387

Legal and professional fees
910
910

______


TOTAL
2020£
164,472
_
TOTAL
2020£
164,472
_
TOTAL
2020£
900
1,313
1,600
_










9. NET INCOMING/[OUTGOING] RESOURCES FOR THE YEAR

This is stated after charging
Depreciation		 2021

£

2,322

______
 2020
£
1,974
_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

10. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows :



Wages and salaries

 2021

£

95,402

______
 2020
£
90,338
______

The average number of employees during the year was 6. [2020 - 6] including trustees. All employee time involved providing either support to the governance of the charity or support services to charitable activities.

Trustee Remuneration

In the period the charity has paid trustees remuneration in accordance with contracts of employment for employment duties performed for the charity, as follows:

D Channing-Sykes £18,133 [2020 £21,386]
C Kiddell £15,691 [2020 £15,392]

No trustee expenses have been incurred.

There have been no related third party transactions in the reporting period.

No employee received remuneration of more than £60,000 during the year [2020 - Nil].

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for the year
At 31 March 2021
NETBOOKVALUE
At 31 March 2021
At 31 March 2020
12. DEBTORS
Prepayments
Accrued Income		 Shop
Aviaries
Motor Vehicles
TOTAL
£
2,753
6,189
27,235
36,177
884
-
-
884
_



3,637
6,189
27,235
37,061

_
_

1,007
2,636
27,234
30,877
775
1,547
-
2,322

_
_

1,782
4,183
27,234
33,199

_
_
_
1,855
2,006
1
3,862

_
_

1,746
3,553
1
5,300
__
_
_

2021
2020
£
£
12,133
6,689
7,269
-

___

All prepayments related to unrestricted funds in 2021 and 2020.

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 [CONT.]

13. CREDITORS



Trade Creditors

Other Creditors



 2021

£

2,012

4,287

_

6,299

___
 2020
£
515
4,096
__
4,611
____

All creditors relate to unrestricted funds in 2021 and 2020.

14. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2021 the charity had annual commitments under non-cancellable operating leases as set out below

Property rental
15. CASH ATBANK AND INHAND
16. RESTRICTEDINCOMEFUNDS
Balance at
1 April 2020
£
Appeal Fund
-
______		 Land and buildings
2021

£

27,040

__

2021

£

203,610

_

Incoming
Release of

resources
Restricted

Funds
£
£


_
____
 2020
£
27,040
__
2020
£
103,112
_
Balance at
31 March 2021
£
-
____




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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021[CONT.]

17. UNRESTRICTED INCOME FUNDS




General Funds

 Balance at
Incoming
Transfer
Outgoing
Balance at
1 April 2020
Resources
of Funds
Resources
31 March 2021
£
£
£
£
£
110,490
332,570
-
222,485
220,575
_______
____

The unrestricted funds are available to be spent for any of the purposes of the charity.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible
Fixed Assets
£
Restricted Income Fund:
Appeal Fund
-
Unrestricted Income Fund
3,862
__
3,862
____		 Net Current
Assets
£
216,713
_
216,713
_		 Total
£
-
220,575
_
220,575
_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021[CONT.]

THE FOLLOWING PAGES ARE FOR THE INFORMATION

OF THE TRUSTEES ONLY

THEY DO NOT FORM PART OF THE STATUTORY ACCOUNTS

TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

2021 2020
£ £
INCOMINGRESOURCES
VOLUNTARYINCOME
Sanctuary donations 111,858 68,128
HMRC Gift Aid 7,269 -
Legacies 6,831 20,000
_ _
125,958 88,128
_ _
ACTIVITIES FORGENERATINGFUNDS
Shop Income 107,326 156,856
Sanctuary Open Day - 4,525
Other Fundraising - -
_ _
107,326 161,381
_ _
Grants 99,270 -
INVESTMENTINCOME
Bank Interest 16 76
_ _
TOTALINCOMINGRESOURCES 332,570 249,585
_ _
RESOURCESEXPENDED
FUNDRAISINGTRADING: COSTS OFGOODS
SOLD AND OTHER COSTS
Sanctuary Open Day expenses - 160
Wages, Salaries, National Insurance and Pensions 44,993 32,714
Rent 25,000 25,000
Rates and Water 604 1,976
Repairs and Maintenance - 4,693
Other Fundraising expenses 796 171
_ _
71,393 64,714
_ _

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TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

CHARITABLEACTIVITIES
Boarding Kennel costs
Veterinary costs
Food and Litter
Pet Chip
Wages and Salaries
Rent
Repairs and Maintenance [Sanctuary]
Motor Vehicle expenses
Light, Heat, Rates and Telephone
Insurance
Cleaning
Depreciation
Dog Warden and Behaviourist
Other Office and General Expenses
PROFESSIONALFEES
Independent examiner’s fee
Legal and professional fees
TOTALRESOURCESEXPENDED
NETINCOMING/[OUTGOING] RESOURCES
FOR THE YEAR		 2021

£

8,907

39,406

7,195

358

50,409

2,040

5,590

5,675

7,266

6,337

6,079

2,322

250

6,061

_

147,895

_

2,287

910

_

3,197

_

222,485

_

110,085

_
 2020
£
25,508
32,461
7,986
-
57,624
2,040
-
7,959
10,161
3,886
8,580
1,974
500
5,793
_
164,472
_
2,213
1,600
_
3,813
_
232,999
_
16,586
_

-15-

TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

FUNDRAISINGTRADING: COSTS OF
GOODS SOLD AND OTHER COSTS
Fundraising trading – shop costs
Wages, Salaries, National Insurance and Pensions
Rent
Rates and Water
Repairs and Maintenance
Sanctuary Open Day
Costs of sales – purchases
Other fundraising expenses
CHARITABLEACTIVITIES
Animal Sanctuary Costs
Activities undertaken directly
Food and Litter
Pet chip
Wages and Salaries
Rent
Light, Heat, Telephone and Rates
Repairs and Maintenance
Insurance
Motor Vehicle expenses
Veterinary costs
Boarding Kennel fees
Cleaning
Depreciation
Dog Warden and Behaviourist
Other Office and General Expenses		 2021

£

44,993

25,000

604

-

_

70,597

_

-

796

_

796

_

7,195

358

50,409

2,040

7,266

5,590

6,337

5,675

39,406

8,907

6,079

2,322

250

6,061

_

147,895

_
 2020
£
32,714
25,000
1,976
4,693
_
64,383
_
160
171
_
331
_
7,986
-
57,624
2,040
10,161
-
3,886
7,959
32,461
25,508
8,580
1,974
500
5,793
_
164,472
_

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