CHARITY NUMBER 01110837
TAG PET RESCUE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
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
At TAG, our mission is to care for and rehome as many animals as we can. We do not receive government funding, so we rely on donations, income from our shops and the tireless work of volunteers to keep the centre going; it’s a true labour of love!
We aim:
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.
To advance the education of the public in matters relating to animal welfare in general.
To advance the education and training of young persons through the provision of school placements to students.
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We go to prospective new owners for a visit before we rehome one of our pets. This way everyone can be confident that you, your home and your pet are a perfect match before making a decision.
All our cats, dogs and rabbits are spayed or neutered, something we feel very strongly about.
Our cats and dogs are microchipped, and the cats are vaccinated. Our cats and dogs are treated for fleas when they arrive at the centre. Our cats and dogs are all wormed and rabbits are inoculated again myxomatosis.
Achievements and Performance
We built a large new kitchen to store hay and purchased an industrial fridge for the rabbit’s vegetables and storage containers. We updated and renovated the staff room. We have had a large concrete base laid for our proposed vet room. Total refurbishment of two rodent houses, tiled floor, roof repair and insulation.
Financial Review
Income was received from sanctuary and charity shop donations, legacies and Government grants. The result for the year was a deficit of -£41,586 which is considered satisfactory due to the necessary refurbishment costs incurred. Reserves at the year-end amount to £341,047 which gives an adequate cushion, although competition from other charities will always remain a concern.
Plans for Future Periods
Next year we propose to install a vet room and will dismantle the existing rabbit enclosures, to be replaced with new enclosures. These upgrades will require a large area of concrete to be broken up and removed.
Fixed Assets
The movement in fixed assets is shown in the notes to the financial statements.
The company’s deficit for the year, after taxation, amounted to £41,586. [2023 – Surplus £131,622]
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
Rex Goodban Date: 19.12.24
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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 2024 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:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under section 145[5][b] of the Charities Act; and
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to state whether particular matters have come to my attention.
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
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[1] which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 130 of the Charities Act;
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
[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: 6 January 2025
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 2024
| UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS 2024£ 2024£ 2024 £ INCOMINGRESOURCES Incoming resources from generating funds: Voluntary income 2 146,350 146,350 Charitable activities 3 232,021 232,021 Investment income 4 677 677 Grants - - ______ TOTAL INCOMINGRESOURCES 379,048 379,048 ________ RESOURCESEXPENDED Cost of generating funds: Fundraising trading: Costs of goods sold & other costs 5 [99,588] [99,588] Charitable activities 6/7 [317,759] [317,759] Professional fees 8 [3,287] [3,287] ______ TOTALRESOURCESEXPENDED [420,634] [420,634] ______ NETINCOMING/[OUTGOING] RESOURCES FOR THE YEAR 9 -41,586 -41,586 TRANSFERBETWEENFUNDS - - RECONCILIATION OFFUNDS Total funds brought forward 382,633 382,633 ______ TOTALFUNDSCARRIEDFORWARD 341,047 341,047 _______ |
TOTAL 2023 £ 211,599 226,544 172 - _ 438,315 _ [86,308] [217,702] [2,683] _ [306,693] _ 131,622 - 251,011 _ 382,633 _ |
|---|---|
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 2024
| NOTE FIXEDASSETS Tangible Assets 11 CURRENTASSETS Debtors 12 22,740 Cash at bank and in hand 15 320,819 _ 343,559 CREDITORS Amounts falling due within one year 13 18,575 _ NETCURRENTASSETS NETASSETS FUNDS Restricted income funds 16 Unrestricted income funds 17 TOTALFUNDS 18 |
2024 2023 £ £ 16,063 3,597 16,623 366,008 _ 382,631 3,595 _ 324,984 379,036 _ _ 341,047 382,633 _ _ - - 341,047 382,633 _ _ 341,047 382,633 _ _ |
2024 2023 £ £ 16,063 3,597 16,623 366,008 _ 382,631 3,595 _ 324,984 379,036 _ _ 341,047 382,633 _ _ - - 341,047 382,633 _ _ 341,047 382,633 _ _ |
|---|---|---|
- 382,633 _ 382,633 _ |
These financial statements were approved by the Trustees and authorised for issue on 19.12.24 and are signed on their behalf by
R Goodban CM 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 2024
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 financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and 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:
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the charity becomes entitled to the resources
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
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 2024 [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:
Equipment Motor vehicles
- 25% straight line - 25% reducing balance
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.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 [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 2024£ 2024£ 2024£ Donations Sanctuary donations 58,092 58,092 HMRC Gift Aid 3,008 3,008 Legacies Legacies 85,250 85,250 _____ 146,350 146,350 _____ 3. INCOMINGRESOURCES FROM ACTIVITIES FOR GENERATING FUNDS UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS 2024£ 2024£ 2024£ Shop income 219,643 219,643 Sanctuary Open Day 10,121 10,121 Other fundraising 2,257 2,257 _____ 232,021 232,021 _____ 4. INVESTMENTINCOME UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS 2024£ 2024£ 2024£ Bank interest receivable 677 677 ________ |
TOTAL 2023£ 51,626 4,153 155,820 _ 211,599 _ TOTAL 2023£ 216,333 9,596 615 _ 226,544 _ TOTAL 2023£ 172 __ |
|---|---|
5. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS
| UNRESTRICTED | UNRESTRICTED | TOTAL TOTAL | |
|---|---|---|---|
| FUNDS | |||
| 2024 | £ | **2024£ 2023£ ** | |
| Shop costs | 97,238 | 97,238 85,150 | |
| Sanctuary Open Day | 2,005 | 2,005 565 | |
| Other fundraising expenses | 345 | 345 593 | |
| ______ _____ | |||
| 99,588 | 99,588 86,308 |
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 [CONT.]
6. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| UNRESTRICTED TOTAL FUNDS 2024£ 2024£ Animal sanctuary costs [including depreciation as shown in note 9] 317,759 317,759 _____ 7. COSTS OFCHARITABLEACTIVITIES BY ACTIVITY TYPE UNRESTRICTED TOTAL FUNDS 2024£ 2024£ Animal sanctuary costs [including depreciation as shown in Note 9] 317,759 317,759 ____ 8. OTHERCOSTS UNRESTRICTED TOTAL FUNDS 2024£ 2024£ Independent examiner’s fee 1,000 1,000 Other fees paid to independent examiner 1,920 1,920 Legal and professional fees 367 367 ______ |
TOTAL 2023£ 217,702 _ TOTAL 2023£ 217,702 _ TOTAL 2023£ 1,000 1,620 63 _ |
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|---|---|---|
9. NET INCOMING/[OUTGOING] RESOURCES FOR THE YEAR
| This is stated after charging Depreciation |
2024 £ 7,009 ______ |
2023 £ 1,504 _ |
|---|---|---|
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 [CONT.]
10. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows :
| Wages and salaries | 2024 2023 £ £ 148,645 129,584 _ ______ |
|---|---|
The average number of employees during the year was 7. [2023 - 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 | £27,866 | [2022 | £26,854] |
|---|---|---|---|
| C Kiddell | £27,840 | [2022 | £24,963] |
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 [2023 - Nil].
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 [CONT.]
11. TANGIBLE FIXED ASSETS
| Shop & Aviaries Sanctuary COST At 1 April 2023 6,761 6,948 Additions 7,190 1,290 _ At 31 March 2024 13,951 8,238 _ DEPRECIATION At 1 April 2023 3,815 6,298 Charge for the year 2,844 1,416 At 31 March 2024 6,659 7,714 _ NETBOOKVALUE At 31 March 2024 7,292 524 _ At 31 March 2023 2,946 650 12. DEBTORS Prepayments Accrued Income |
Motor Vehicles TOTAL £ 27,235 40,944 10,995 19,475 __ _ 38,230 60,419 27,234 37,347 2,749 7,009 29,983 44,356 _ 8,247 16,063 _ __ 1 3,597 _ _ 2024 2023 £ £ 22,385 15,988 355 635 _ ___ |
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All prepayments related to unrestricted funds in 2024 and 2023.
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 [CONT.]
13. CREDITORS
Trade Creditors Other Creditors |
2024 £ 12,300 6,275 _ 18,5745 ___ |
2023 £ 176 3,419 __ 3,595 ____ |
|---|---|---|
All creditors relate to unrestricted funds in 2024 and 2023.
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 2023 £ Appeal Fund - ______ |
Land and buildings 2024 £ 43,825 __ 2024 £ 320,819 _ Incoming Release of resources Restricted Funds £ £ _ ____ |
2023 £ 35,155 __ 2023 £ 366,008 _ Balance at 31 March 2024 £ - ____ |
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TAG PET RESCUE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024[CONT.]
17. UNRESTRICTED INCOME FUNDS
General Funds |
Balance at Incoming Transfer Outgoing Balance at 1 April 2023 Resources of Funds Resources 31 March 2024 £ £ £ £ £ 382,633 379,048 - 420,634 341,047 _______ ____ |
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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 16,063 __ 16,063 ____ |
Net Current Assets £ 324,984 _ 324,984 _ |
Total £ - 341,047 _ 341,047 _ |
|---|---|---|
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