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2022-03-31-accounts

CHARITY NUMBER 01110837

TAG PET RESCUE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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 2022

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.

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.

-1-

TAG PET RESCUE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 [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

Our old office had become dangerous and a hazard so we decided the time had come to have a new office and this was finally completed in August 2022.

Along with all animal rescues we have been inundated with requests to take in rabbits for rehoming so we have built extra Wendy houses to accommodate as many as possible. We currently have 41 in our care.

The proper re-opening of our shops post Covid, the return of our Open Day and continued donations 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 £30,436 which is considered satisfactory. Reserves at the year end amount to £251,011 which is gives an adequate cushion, although competition from other charities will always remain a concern.

Plans for Future Periods

Next year we plan to amend our rabbit houses/ exercise area. We are going to move the existing path to the back of the exercise area so the rabbit houses and concrete runs will be attached to the grass area. Thus allowing them free access.

We have also been given a massive shed which we will convert to a kitchen/storage area for rabbits and guinea pigs. We will then convert the existing kitchen into a superior indoor home for our guinea pigs. Depending on time and finances we will look to replace some of our cat pens.

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 £30,436. [2021 – Surplus £110,085]

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

D Channing-Sykes D Channing-Sykes

Date: 12 January 2023

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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 2022 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

[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: 16[th] January 2023

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 2022

UNRESTRICTED
RESTRICTED
TOTAL

FUNDS
FUNDS
2022£
2022£
2022 £

INCOMINGRESOURCES
Incoming resources from generating funds:
Voluntary income
2 78,305
78,305

Charitable activities
3 216,147
216,147

Investment income
4 5
5

Grants
8,709
8,709

______

TOTAL INCOMINGRESOURCES
303,166
303,166

______

RESOURCESEXPENDED
Cost of generating funds:
Fundraising trading:
Costs of goods sold & other costs
5 [87,927]
[87,927]

Charitable activities
6/7 [180,873]
[180,873]

Professional fees
8 [3,930]
[3,930]

______

TOTALRESOURCESEXPENDED
[272,730]
[272,730]

______

NETINCOMING/[OUTGOING]
RESOURCES FOR THE YEAR
9 30,436
30,436

TRANSFERBETWEENFUNDS
-
-

RECONCILIATION OFFUNDS
Total funds brought forward
220,575
220,575

_______

TOTALFUNDSCARRIEDFORWARD
251,011
-
251,011
_________
 TOTAL
2021 £
125,958
107,326
16
99,270
_
332,570
_
[71,393]
[147,895]
[3,197]
_
[222,485]
_
110,085
-
110,490
_
220,575
_

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.

-4-

TAG PET RESCUE

BALANCE SHEET AT 31 MARCH 2022

NOTE
FIXEDASSETS
Tangible Assets
11
CURRENTASSETS
Debtors
12
10,353
Cash at bank and in hand
15
246,295
_
256,648
CREDITORS
Amounts falling due within
one year
13
7,964
_
NETCURRENTASSETS
NETASSETS
FUNDS
Restricted income funds
16
Unrestricted income funds
17
TOTALFUNDS
18		 2022
2021
£
£
2,327
3,862
19,402
203,610
_
223,012
6,299
_
248,684
216,713
_
_
251,011
220,575
_
_
-
-
251,011
220,575
_
_
251,011
220,575
_
_

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

D Channing-Sykes C M Kiddell

D Channing-Sykes -Trustee C Kiddell - 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 2022

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 2022 [CONT.]

2. VOLUNTARY INCOME

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

Donations
Sanctuary donations
HMRC Gift Aid
Legacies
Legacies		 UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2022£
2022£
2022£
76,223
76,223
2,082
2,082
-
-
_____
78,305
78,305
_____		 TOTAL
2021£
111,858
7,269
6,831
_
125,958
_

3. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS

Shop income
Sanctuary Open Day
Other fundraising
4. INVESTMENTINCOME
Bank interest receivable		 UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2022£
2022£
2022£
209,097
209,097
6,345
6,345
705
705
_____
216,147
216,147
_____
UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2022£
2022£
2022£
5
5
________		 TOTAL
2021£
107,326
-
-
_
107,326
_
TOTAL
2021£
16
__

5. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS

Shop costs
Sanctuary Open Day
Other fundraising expenses		 UNRESTRICTED
TOTAL
FUNDS
2022£
2022£
86,691
86,691
881
881
355
355
______
87,927
87,927
______		 TOTAL
2021£
70,597
-
796
_
71,393
_

-8-

TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 [CONT.]

6. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

UNRESTRICTED
TOTAL

FUNDS
2022£
2022£

Animal sanctuary costs [including depreciation
as shown in note 9]
180,873
180,873

_____

7. COSTS OFCHARITABLEACTIVITIES BY ACTIVITY TYPE
UNRESTRICTED
TOTAL

FUNDS
2022£
2022£

Animal sanctuary costs [including depreciation
as shown in Note 9]
180,873
180,873

____

8. OTHERCOSTS
UNRESTRICTED
TOTAL

FUNDS
2022£
2022£

Independent examiner’s fee
1,000
1,000

Other fees paid to independent examiner
2,330
2,330

Legal and professional fees
600
600

______


TOTAL
2021£
147,895
_
TOTAL
2021£
147,895
_
TOTAL
2021£
900
1,387
910
_










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

This is stated after charging
Depreciation		 2022

£

2,643

______
 2021
£
2,322
_

-9-

TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 [CONT.]

10. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows :

Wages and salaries 2022

£

133,264

_
 2021
£
95,402
______

The average number of employees during the year was 5. [2021 - 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 £28,361 [2021 £18,133]
C Kiddell £22,689 [2021 £15,691]

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 [2021 - Nil].

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 [CONT.]

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for the year
At 31 March 2022
NETBOOKVALUE
At 31 March 2022
At 31 March 2021
12. DEBTORS
Prepayments
Accrued Income		 Shop
Aviaries
3,637
6,189
350
759
_

3,987
6,948

_
1,782
4,183
969
1,675


2,751
5,858
_

1,236
1,090

_
1,855
2,006
Motor Vehicles
TOTAL
£
27,235
37,061
-
1,109
__
_
27,235
38,170


27,234
33,199
-
2,644


27,234
35,843
_

1
2,327
_
__
1
3,862
_
_
2022
2021
£
£
9,702
12,133
651
7,269
_
___

All prepayments related to unrestricted funds in 2022 and 2021.

-11-

TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 [CONT.]

13. CREDITORS



Trade Creditors

Other Creditors



 2022

£

705

7,259

_

7,964

___
 2021
£
2,012
4,287
__
6,299
____

All creditors relate to unrestricted funds in 2022 and 2021.

14. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2022 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 2021
£
Appeal Fund
-
______		 Land and buildings
2022

£

28,170

__

2022

£

246,295

_

Incoming
Release of

resources
Restricted

Funds
£
£


_
____
 2021
£
27,040
__
2021
£
203,610
_
Balance at
31 March 2022
£
-
____




-12-

TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022[CONT.]

17. UNRESTRICTED INCOME FUNDS




General Funds

 Balance at
Incoming
Transfer
Outgoing
Balance at
1 April 2021
Resources
of Funds
Resources
31 March 2022
£
£
£
£
£
220,575
303,166
-
272,730
251,011
_______
____

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
2,327
__
2,327
____		 Net Current
Assets
£
248,684
_
248,684
_		 Total
£
-
251,011
_
251,011
_

-13-

TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022[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 2022

2022 2021
£ £
INCOMINGRESOURCES
VOLUNTARYINCOME
Sanctuary donations 76,223 111,858
HMRC Gift Aid 2,082 7,269
Legacies - 6,831
_ _
78,305 125,958
_ _
ACTIVITIES FORGENERATINGFUNDS
Shop Income 209,097 107,326
Sanctuary Open Day 6,345 -
Other Fundraising 705 -
_ _
216,147 107,326
_ _
Grants 8,709 99,270
INVESTMENTINCOME
Bank Interest 5 16
_ _
TOTALINCOMINGRESOURCES 303,166 332,570
_ _
RESOURCESEXPENDED
FUNDRAISINGTRADING: COSTS OFGOODS
SOLD AND OTHER COSTS
Sanctuary Open Day expenses 881 -
Wages, Salaries, National Insurance and Pensions 59,741 44,993
Rent 26,130 25,000
Rates and Water 820 604
Repairs and Maintenance - -
Other Fundraising expenses 355 796
_ _
87,927 71,393
_ _

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TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

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
Transaction and Bank Fees
PROFESSIONALFEES
Independent examiner’s fee
Legal and professional fees
TOTALRESOURCESEXPENDED
NETINCOMING/[OUTGOING] RESOURCES
FOR THE YEAR		 2022

£

7,574

36,487

9,466

-

73,523

2,040

7,133

4,833

10,859

7,297

9,916

2,643

1,700

5,306

2,096

_

180,873

_

3,330

600

_

3,930

_

272,730

_

30,436

_
 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
_

-15-

TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

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
Transaction and Bank Fees		 2022

£

59,741

26,130

820

-

_

86,691

_

355

881

_

1,236

_

9,466

-

73,523

2,040

10,859

7,133

7,297

4,833

36,487

7,574

9,916

2,643

1,700

5,306

2,096

_

180,873

_
 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
_

-16-