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← The Kennel Club Educational Trust

2023-12-31-accounts

THE KENNEL CLUB EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

REGISTERED COMPANY NO. 6228200 REGISTERED CHARITY NO. 1121454

THE KENNEL CLUB EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

CONTENTS TRUSTEES' REPORT ..………………………………………………………………….……………………..3 STATEMENT OF TRUSTEES' RESPONSIBILITIES ............................................................................. 6 INDEPENDENT EXAMINERS REPORT ................................................................................................. 7 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................................ 8 BALANCE SHEET ................................................................................................................................... 9 NOTES ON THE FINANCIAL STATEMENTS ......................................................................................10

THE KENNEL CLUB EDUCATIONAL TRUST

TRUSTEES' REPORT

YEAR ENDED 31 DECEMEBER 2023

The Kennel Club Educational Trust is a registered charity (no.1121454) and company limited by guarantee (no. 6228200) and is governed by its Memorandum and Articles of Association.

The Trustees

The Trustees (who are the Directors for Companies Act purposes) who served throughout the period covered by the attached financial statements were:

Mr G King (Chairman) Mr A Allcock OBE Mrs H Kerfoot (nee Geeson) Mr J Lloyd Mr P Rawlings (resigned 10 January 2024)

Mr King, Mr Allcock and Mr Rawlings are members of The Royal Kennel Club Limited. Mrs Kerfoot is an employee of The Royal Kennel Club.

Administrative Details

The Principal office of the Trust is: The Royal Kennel Club Limited 10 Clarges Street London W1J 8AB Bankers: Barclays Bank plc 1-2 Trinity Way Chingford London E4 8TD Independent Examiners: Crowe U.K. LLP Black Country House Rounds Green Road Oldbury West Midlands. B69 2DG Registered Company No. 6228200 Registered Charity No. 1121454

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THE KENNEL CLUB EDUCATIONAL TRUST TRUSTEES' REPORT

Objectives and activities

The charity's objects are to advance the education of the public, particularly but not exclusively dog owners and trainers, in responsible dog ownership, including public safety, obedience training, and the health and welfare of dogs.

Achievements and performance

The activities of the charity including training days, seminars, and open days at the Stoneleigh Building, are focused and aimed towards the delivery of its charitable objectives. Over the coming year, the Trustees anticipate carrying out a review of the charity’s strategy and how it can best deliver its charitable objectives, taking into account the its ambitions in the area of canine education.

Financial Statements and Financial Review

The accompanying financial statements show that, at the year's end, the charity’s unrestricted funds stood at £1,633k (2022: £1,799k), of which approximately £1.15m was represented by the carrying value of the charity’s long leasehold property.

The trustees have reviewed the level of unrestricted reserves carried by the charity other than those invested in property, which represents nearly two years’ unrestricted expenditure. The trustees regard this level of reserves as appropriate in the context of uncertainty over the charity’s income streams and the time it would take to develop alternative sources of income to cover the ongoing costs of maintaining the charity’s operations.

In light of the above information, the trustees consider that the charity’s reserves levels place it in a strong position to continue its operations for the foreseeable future and that the going concern basis on which the accounts are prepared is, therefore, appropriate.

Reserve Policy

The Kennel Club Education Trust aims to maintain financial stability by holding reserves equivalent to twice its annual expenditure (approx. £240k), according to UK SORP guidelines. These reserves ensure the Trust can sustain operations during unforeseen circumstances, meet ongoing commitments, and seize strategic opportunities. The reserve level is reviewed annually based on the latest audited financial statements and adjusted as necessary. Reserves are used only for designated purposes with Board approval, ensuring transparency and accountability. The Board of Trustees monitors and reviews the policy annually to remain relevant and aligned with the Trust's financial position and strategic goals.

Structure, governance, and management

Organisational Structure

As of 31 December 2023, the Board of Trustees (who are also the Directors for the purposes of Company Law) comprised five members who are responsible for the charity's overall policy, direction, and strategy and for overseeing its financial affairs.

Appointment of Trustees

Two Trustees are nominated by the Board of the Royal Kennel Club. Further Trustees are nominated and appointed by the existing Trustees based on the skills needed to achieve our objectives in the area of canine education and development of Young Kennel Club Members.

Background

The charity was formed at about the same time as coming to an agreement with the Royal Agricultural Society of England (RASE) to lease a venue suiting all canine educational needs at Stoneleigh Park, on which the current facility was constructed to its own specification. The agreement has subsequently been transferred by RASE to the MARS Pension Trustees.

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THE KENNEL CLUB EDUCATIONAL TRUST TRUSTEES' REPORT

Risk management

The Trustees have considered the major risks to which the charity may be exposed and concluded that they have in place controls which could reasonably be expected to mitigate those risks and thus protect the financial and reputational standing of the charity.

Public Benefit

The Trustees are fully aware of the Charity Commission's requirements for public benefit and their obligations to fulfil the charity’s charitable objectives. The Trustees have given careful consideration to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives of the charity.

Future plans

The charity's activities, including training days, seminars, and open days at the Stoneleigh Building, are focused on delivering its charitable objectives. Over the coming year, the Trustees anticipate reviewing the charity’s strategy and how it can best deliver its charitable objectives, considering its ambitions in canine education.

On behalf of the Trustees:

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Mr G King (Chairman)

Date 18 September 2024

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THE KENNEL CLUB EDUCATIONAL TRUST STATEMENT OF TRUSTEES' RESPONSIBILITIES YEAR ENDED 31 DECEMBER 2023

The Trustees, who are also the Directors of the charity for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the net income and expenditure, of the charity for that period.

In preparing those financial statements, the trustees are required to:

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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THE KENNEL CLUB EDUCATIONAL TRUST INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF THE KENNEL CLUB EDUCATIONAL TRUST

Independent Examiner's Report to the Trustees of The Kennel Club Educational Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 23 September 2024

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Helen Blundell

LLB FCA FCIE DChA

Crowe U.K. LLP Black Country House Rounds Green Road Oldbury West Midlands B69 2DG

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THE KENNEL CLUB EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31 DECEMBER 2023

INCOME
Donations received
Donation in kind
(The Royal Kennel Club Limited)
Hire Income
EXPENDITURE
Charitable expenditure
Depreciation charges
Independent examiner
fees
Rental service cost
Donation in kind (The Royal Kennel Club Ltd)
Grants
NET (EXPENDITURE) / INCOME
Funds brought
forward
Funds carried
forward		 2023
2022
Unrestricted
Total
Unrestricted
Total
£
£
£
£
50
50
3,100
3,100
39,413
39,413
38,571
38,571
118,795
118,795
109,000
109,000
158,258
158,258
150,671
150,671
59,563
59,563
60,243
60,243
2,000
2,000
3,500
3,500
221,612
221,612
45,257
45,257
39,413
39,413
38,571
38,571
1,500
1,500
4,200
4,200
324,088
324,088
151,771
151,771
(165,830)
(165,830)
(1,100)
(1,100)
1,799,298
1,799,298
1,800,398
1,800,398
1,633,468
1,633,468
1,799,298
1,799,298

All gains and losses in the year are included in the Statement of Financial Activities.

The notes on pages 10 to 13 form part of these accounts.

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THE KENNEL CLUB EDUCATIONAL TRUST COMPANY NUMBER 6228200 BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible fixed assets
3
CURRENT ASSETS
Debtors
4
Cash at bank and on deposit
CURRENT LIABILITIES
Creditors
5
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
UNRESTRICTED ACCUMULATED FUND		 2023
Total
£
1,157,073
111,010
437,039
548,049
(71,654)
476,395
1,633,468

1,633,468
1,633,468		 2022
Total
£
1,215,933
177,486
480,664
658,150
(74,785)
583,365
1,799,298
1,799,298
1,799,298

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in the question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The accounts on pages 8 to 13 were approved and authorised for issue by the Trustees on and signed on their behalf by:

==> picture [60 x 51] intentionally omitted <==

Mr G King (Trustee)

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THE KENNEL CLUB EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

(a) Basis of accounting

The entity is a charitable company incorporated in England at 10 Clarges Street, London W1J 8AB. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) – Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in British pound sterling and rounded to the nearest £.

The trustees consider that the charity’s reserves levels place it in a strong position to be able to continue its operations for the foreseeable future and, therefore, that it is appropriate for the accounts of the charity to be prepared on a going concern basis.

The Charity meets the definition of a public benefit entity under FRS 102.

(b) Critical accounting judgements and estimations

In preparing the financial statements, the trustees are required to make estimates and judgements. The items in the financial statements where these judgments and estimates have been made include:

(i) Accruals - The estimate for payables relates to the liabilities not settled at the year end. A review is performed on an individual creditor basis to estimate the amount will be collected.

(ii) Bad debts - The estimate for receivables relates to the recoverability of the balances outstanding at the year end. A review is performed on an individual debtor basis to consider whether each debt is recoverable.

(c) Income

Donations are accounted for as soon as there is an entitlement, the amount is measurable, and the receipt is probable.

The Royal Kennel Club made a donation in kind of £39,413 (2022: £38,571) during the year.

Hire income is recognised on a receivable basis. Income received in advance is treated as deferred income until the services are delivered.

Interest and other income are included when receivable.

(d) Expenditure

Resources expended are recognised in the period in which they are incurred. There were no employees during the year (2022: Nil).

(e) Depreciation

Depreciation is provided to write off the cost of tangible fixed assets over their expected useful lives as follows. The venue works at Stoneleigh Park are being depreciated 50% over 99 years and 50% over 50 years to reflect the terms of the lease and the equipment are depreciated over 10 years.

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THE KENNEL CLUB EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 (continued)

1. ACCOUNTING POLICIES (continued)

(f) Cash and Cash Equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity.

(g) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(h) Debtors

Trade and other debtors are recognised at the settlement amount.

(i) Financial Instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(j) Cash flow statement

As a qualifying entity (for the purposes of FRS 102 Section 1A Small Entities), the charitable entity has taken advantage of the reduced disclosure framework exemption from requirement to prepare a statement of cash flows.

2. NET INCOMING RESOURCES FOR THE YEAR

Net incoming resources for the year are shown after:

Independent Examiners Fees
Depreciation of tangible assets
 2023
2022
£
£
2,000
3,500
59,562
59,243
61,562 62,743

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THE KENNEL CLUB EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023 (continued)

3. TANGIBLE FIXED ASSETS

Cost
At 1 January 2023
Additions
At 31 December 2023
Accumulated depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022
4. DEBTORS
Trade Debtors
VAT recoverable
Prepayment		 Leasehold
properties
and
Furniture,
fittings and
improvements
equipment
Total
£
£
£
1,436,830
383,678
1,820,508
-
702
702		 Leasehold
properties
and
Furniture,
fittings and
improvements
equipment
Total
£
£
£
1,436,830
383,678
1,820,508
-
702
702		 Leasehold
properties
and
Furniture,
fittings and
improvements
equipment
Total
£
£
£
1,436,830
383,678
1,820,508
-
702
702
1,436,830
384,380
1,821,210
307,937
296,638
604,575
21,625
37,937
59,562
329,562
334,575
664,137
1,107,268
49,805
1,157,073
1,128,893
87,040
1,215,933
2023
£
23,702
82,058
5,251
111,010		 2022
£
78,315
71,720
27,451
177,486

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THE KENNEL CLUB EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 (continued)

5. CREDITORS
Trade Creditors
Deferred Income
Accruals		 2023
£
-
60,782
10,872
71,654		 2022
£
18,358
47,886
8,541
74,785

Deferred income related to income that was prepaid by customers for the rental of the hall owned by KCET.

6. RELATED PARTY TRANSACTIONS

The Trustees received no remuneration in connection with their duties during the period. Trustees' expenses of £Nil (2022: £Nil) were incurred in the year.

Apart from transactions with The Royal Kennel Club Limited, as disclosed in these financial statements, there were no related party transactions, as defined in Financial Reporting Standard 102.

8. STAFF COSTS

The average number of employees employed by the Charity during the year was 0 (2022:0)

No employee received remuneration amounting to more than £60,000 in the current year, nor the previous year.

9. LEASE COMMITMENTS

The Trust entered into a lease arrangement with the Royal Agricultural Society of England in 2008 to lease the venue at Stoneleigh Park for a period of 99 years at an annual peppercorn rent (if demanded).

10. DONATIONS IN KIND

The following donations in kind have been accounted for in the Statement of Financial Activities and were received free of charge:

The Royal Kennel Club Limited provides support for administrative activities, estimated at a cost of £39,413 (2022 - £38,571).

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