**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.
-1-
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:
- examine the accounts under section 145 of the Charities Act;
* 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
* 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
- [1] which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 130 of the Charities Act;
- 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
-3-
**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.
-4-
**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
-5-
**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:
- the charity becomes entitled to the resources
- it is more likely than not that the trustees will receive the resources; and
- 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.
-6-
**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.
-7-
**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|
_______________________________________ ________
-8-
**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
_______|
|---|---|---|
||
||
||
||
## **9. NET INCOMING/[OUTGOING] RESOURCES FOR THE YEAR**
|This is stated after charging
Depreciation|**2024**
**£**
7,009
______
|**2023**
**£**
1,504
_______|
|---|---|---|
-9-
**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].
-10-
**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
______
______|
|---|---|
All prepayments related to unrestricted funds in 2024 and 2023.
-11-
**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**
**£**
-
______|
|---|---|---|
||
||
-12-
**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
____________________________________________________
_______|
|---|---|
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
_______|
|---|---|---|
-13-