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2023-03-31-accounts

CHARITY NUMBER 01110837

TAG PET RESCUE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

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 Mrs A Davies

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 2023 [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 were very grateful to receive legacies in excess of £150,000 during the year which helped increase expenditure on our charitable activities including additional animal food, veterinary costs and additional repair works including a new rabbit kitchen.

Financial Review

Income was received from sanctuary and charity shop donations, legacies and Government grants. The result for the year was a surplus of £131,622 which is considered satisfactory. Reserves at the year end amount to £382,633 which is gives an adequate cushion, although competition from other charities will always remain a concern.

Plans for Future Periods

We are continuing to upgrade one of our aviaries and have now taken down dilapidated rabbit enclosures and built new ones and will be building more next year. We have also repaired some of our cat pens and will be replacing our tool shed which is rotten.

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 £131,622. [2022 – Surplus £30,436]

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

Rex Goodban

Rex Goodban Date: 24.01.2024

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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 2023 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: 26 January 2024

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 2023

UNRESTRICTED
RESTRICTED
TOTAL

FUNDS
FUNDS
2023£
2023£
2023 £

INCOMINGRESOURCES
Incoming resources from generating funds:
Voluntary income
2 211,599
211,599

Charitable activities
3 226,544
226,544

Investment income
4 172
172

Grants
-
-

______

TOTAL INCOMINGRESOURCES
438,315
438,315

______

RESOURCESEXPENDED
Cost of generating funds:
Fundraising trading:
Costs of goods sold & other costs
5 [86,308]
[86,308]

Charitable activities
6/7 [217,702]
[217,702]

Professional fees
8 [2,683]
[2,683]

______

TOTALRESOURCESEXPENDED
[306,693]
[306,693]

______

NETINCOMING/[OUTGOING]
RESOURCES FOR THE YEAR
9 131,622
131,622

TRANSFERBETWEENFUNDS
-
-

RECONCILIATION OFFUNDS
Total funds brought forward
251,011
251,011

_______

TOTALFUNDSCARRIEDFORWARD
382,633
-
382,633
_________
 TOTAL
2022 £
78,305
216,147
5
8,709
_
303,166
_
[87,927]
[180,873]
[3,930]
_
[272,730]
_
30,436
-
220,575
_
251,011
_

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 2023

NOTE
FIXEDASSETS
Tangible Assets
11
CURRENTASSETS
Debtors
12
16,623
Cash at bank and in hand
15
366,008
_
382,631
CREDITORS
Amounts falling due within
one year
13
3,595
_
NETCURRENTASSETS
NETASSETS
FUNDS
Restricted income funds
16
Unrestricted income funds
17
TOTALFUNDS
18		 2023
2022
£
£
3,597
2,327
10,353
246,295
_
256,648
7,964
_
379,036
248,684
_
_
382,633
251,011
_
_
-
-
382,633
251,011
_
_
382,633
251,011
_
_

These financial statements were approved by the Trustees and authorised for issue on 24[th] January 2024 and are signed on their behalf by

Rex Goodban

C Kiddell

Rex Goodban -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 2023

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 2023 [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 2023 [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
2023£
2023£
2023£
51,626
51,626
4,153
4,153
155,820
155,820
_____
211,599
211,599
_____		 TOTAL
2022£
76,223
2,082
-
_
78,305
_

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
2023£
2023£
2023£
216,333
216,333
9,596
9,596
615
615
_____
226,544
226,544
_____
UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2023£
2023£
2023£
172
172
________		 TOTAL
2022£
209,097
6,345
705
_
216,147
_
TOTAL
2022£
5
__

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

Shop costs
Sanctuary Open Day
Other fundraising expenses		 UNRESTRICTED
TOTAL
FUNDS
2023£
2023£
85,150
85,150
565
565
593
593
______
86,308
86,308
______		 TOTAL
2022£
86,691
881
355
_
87,927
_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 [CONT.]

6. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

UNRESTRICTED
TOTAL

FUNDS
2023£
2023£

Animal sanctuary costs [including depreciation
as shown in note 9]
217,702
217,702

_____

7. COSTS OFCHARITABLEACTIVITIES BY ACTIVITY TYPE
UNRESTRICTED
TOTAL

FUNDS
2023£
2023£

Animal sanctuary costs [including depreciation
as shown in Note 9]
217,702
217,702

____

8. OTHERCOSTS
UNRESTRICTED
TOTAL

FUNDS
2023£
2023£

Independent examiner’s fee
1,000
1,000

Other fees paid to independent examiner
1,620
1,620

Legal and professional fees
63
63

______

9. NETINCOMING/[OUTGOING] RESOURCES FOR THE YEAR
2023

This is stated after charging
£

Depreciation
1,504

______


TOTAL
2022£
180,873
_
TOTAL
2022£
180,873
_
TOTAL
2022£
1,000
2,330
600
_
2022
£
2,643
______














_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 [CONT.]

10. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows :

Wages and salaries 2023
2022
£
£
129,584
133,264
_
______

The average number of employees during the year was 6. [2022 - 5] 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 £26,854 [2022 £28,361]
C Kiddell £24,963 [2022 £22,689]

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 [2022 - Nil].

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 [CONT.]

11. TANGIBLE FIXED ASSETS

Shop & Aviaries Motor Vehicles TOTAL
Sanctuary
COST £
At 1 April 2022 3,987 6,948 27,235 38,170
Additions 2,774 - - 2,774
_____ _____ ______ ______
At 31 March 2023 6,761 6,948 27,235 40,944
_____ _____ ______ ______
DEPRECIATION
At 1 April 2022 2,751 5,858 27,234 35,843
Charge for the year 1,064 440 - 1,504
_____ _____ ______ ______
At 31 March 2023 3,815 6,298 27,234
 37,347
_____ _____ _ ______
NETBOOKVALUE
At 31 March 2023 2,946 650 1 3,597
_____ _____ _ _____
At 31 March 2022 1,236 1,090 1 2,327
_____ _____ _ _____
12. DEBTORS 2023 2022
£ £
Prepayments 15,988 9,702
Accrued Income 635
______		 651
______

All prepayments related to unrestricted funds in 2023 and 2022.

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 [CONT.]

13. CREDITORS



Trade Creditors

Other Creditors



 2023

£

176

3,419

_

3,595

___
 2022
£
705
7,259
__
7,964
____

All creditors relate to unrestricted funds in 2023 and 2022.

14. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2023 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 2022
£
Appeal Fund
-
______		 Land and buildings
2023

£

35,155

__

2023

£

366,008

_

Incoming
Release of

resources
Restricted

Funds
£
£


_
____
 2022
£
28,170
__
2022
£
246,295
_
Balance at
31 March 2023
£
-
____




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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023[CONT.]

17. UNRESTRICTED INCOME FUNDS




General Funds

 Balance at
Incoming
Transfer
Outgoing
Balance at
1 April 2022
Resources
of Funds
Resources
31 March 2023
£
£
£
£
£
251,011
438,315
-
306,693
382,633
_______
____

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
3,597
__
3,597
____		 Net Current
Assets
£
379,036
_
379,036
_		 Total
£
-
382,633
_
382,633
_

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TAG PET RESCUE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023[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 2023

2023 2022
£ £
INCOMINGRESOURCES
VOLUNTARYINCOME
Sanctuary donations 51,626 76,223
HMRC Gift Aid 4,153 2,082
Legacies 155,820 -
_ _
211,599 78,305
_ _
ACTIVITIES FORGENERATINGFUNDS
Shop Income 216,333 209,097
Sanctuary Open Day 9,596 6,345
Other Fundraising 615 705
_ _
226,544 216,147
_ _
Grants - 8,709
INVESTMENTINCOME
Bank Interest 172 5
_ _
TOTALINCOMINGRESOURCES 438,315 303,166
_ _
RESOURCESEXPENDED
FUNDRAISINGTRADING: COSTS OFGOODS
SOLD AND OTHER COSTS
Sanctuary Open Day expenses 565 881
Wages, Salaries, National Insurance and Pensions 51,185 59,741
Rent 33,115 26,130
Rates and Water 850 820
Other Fundraising expenses 593 355
_ _
86,308 87,927
_ _

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TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

CHARITABLEACTIVITIES
Boarding Kennel costs
Veterinary costs
Food and Litter
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		 2023

£

8,182

48,494

18,039

78,399

2,040

17,980

7,677

9,044

4,169

10,652

1,504

1,413

8,210

1,899

_

217,702

_

2,620

63

_

2,683

_

306,693

_

131,622

_
 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
_

-15-

TAG PET RESCUE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

FUNDRAISINGTRADING: COSTS OF
GOODS SOLD AND OTHER COSTS
Fundraising trading – shop costs
Wages, Salaries, National Insurance and Pensions
Rent
Rates and Water
Sanctuary Open Day
Costs of sales – purchases
Other fundraising expenses
CHARITABLEACTIVITIES
Animal Sanctuary Costs
Activities undertaken directly
Food and Litter
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		 2023

£

51,185

33,115

850

_

85,150

_

593

565

_

1,158

_

18,039

78,399

2,040

9,044

17,980

4,169

7,677

48,494

8,182

10,652

1,504

1,413

8,210

1,899

_

217,702

_
 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
_

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