COMPANY REGISTRATION NUMBER: 06412816
CHARITY REGISTRATION NUMBER: 1122303
Dean Farm Trust Company Limited by Guarantee Unaudited Financial Statements
31 March 2021
LOUISE GOULDING
Chartered Certified Accountants Louise Goulding Ltd Roadside Cottage Caerwent Monmouthshire NP26 5AZ
Dean Farm Trust
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 24 |
Dean Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative details
Registered charity name Dean Farm Trust Charity registration number 1122303 Company registration number 06412816 Principal office and registered The Carlson Suite office Vantage Point Business Village Mitcheldean Gloucestershire GL17 0DD
The trustees
Ms J M Frankland Ms J Fry Ms R M Williams Company secretary J M Frankland Independent examiner Louise Goulding FCCA Louise Goulding Ltd Roadside Cottage Caerwent Monmouthshire NP26 5AZ
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
1
Dean Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Objectives and activities
Objectives and aims
The mission statement of the Trust is:"Dean Farm Trust is all about life, empowerment, education and compassion."
Significant activities
Supporting the mission statement the primary activity of the Trust is providing shelter, warmth, food and sanctuary to sick, ill treated and abused animals that have been subjected to factory farming or sport. Part of this is to provide them with a home for life. The Trust will also provide holistic respite and holiday accommodation to people with disabilities and service users who may find it difficult to access mainstream facilities. The Trust also aims to educate people in these issues and the importance of animal welfare and compassionate living.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the Trust's objectives and aims and in planning future activities. They have ensured that the activities carried out have regard to the Charity Commission's public benefit and that the Trust's purpose is beneficial to the public
2
Dean Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Achievements and performance
Charitable activities
The Trust is well established having rescued animals since May 2013, the Trust has received donations of £208,218 (£224,544: 2020) during the year.
The trustees continue to support the charity with a lot of unpaid support. The charity now has an established bank of over 22 volunteers.
Fundralsing activities
The principal funding source which was Dean Healthcare South West Ltd donations (a related party), has been reduced in 2021.
The main funding is now from grants, fundraisers and public donations.
COVID-19
Due to COVID - 19 the trustees had to review their plans again in 2021 and focus on alternative revenue streams due to the sanctuary not being able to open for some of the year.
This was successful through emergency grants from charitable trusts, lots of fundraising activity on our social media channels and website, local community support, volunteers helping fundraise and virtual sanctuary tours. Monthly sign up donations and launched a Patron page and Virtual website shop. Local community and businesses fundraising for us. This will continue into the next financial year and be developed further.
Areas the trustees have focused on in response to the outbreak are as follows:
1) Control measures to keep the staff, volunteers, vets and essential visitors safe: Hand gels, all events cancelled, all non-essential visitors cancelled,reduction in volunteers, PPE, masks, own towels, no shared eating or drinking vessels, one person in the kitchen at any one time, 2 metre distance where possible and if not then full PPE worn. One person in vehicle, own walkie talkie, one person in the office.
2) More applications for grant funding, recruitment of a fundraising and marketing manager so to ensure that the charity is more sustainable in the medium term. Plans to proceed with planning for change of use to have a mobile cafe, disabled access, signage, education centre. This was planned for this year but COVID - 19 put it all on hold. The change of use will means attract more visitors, educate more people and increase funding streams.
3) The pandemic meant the trustees had to look at other ways to bring in funding and could not rely on Dean Healthcare. We cut back on staffing and put all non-essential maintenance and projects on hold. We carried out ion line events and appealed to the public to help us, locally and nationally. We secured the Patron Matt Pritchard. Financially we have in fact raised more money than any previous financial year. This is through emergency grants (none from the government.)
4) It has always been the plan to become self-sufficient and not reliant upon DeanHealthcare. With the pandemic hitting Dean Healthcare this meant the trustees relooked at funding and how we could not depend upon them (business plan wasNovember 2020). We have only received £41 K this financial year to date from DHC, despite running costs not being greatly reduced. The emphasis is to continue what we are doing also look at the possibility of purchasing the land the
3
Dean Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
charity is occupying.
Financial review
Financial position
The trustees consider that the finances of the Trust are satisfactory.
Principal funding sources
The principal funding source is a related party company (Dean Healthcare), but this being reduced significantly and we are on schedule to be self sufficient by the end of March 2022.
Reserves policy
The Trust is looking to establish a reserves policy which will have the objective of safeguarding the future of charity, but this is a long term goal, with the Trust having heavily invested into development of the Sanctuary over the past three financial periods.
Going concern
The trustees consider that the Trust is a going concern with the continued support of the related party donor.
FUTURE PLANS
The aims of the Trust are to create additional income streams so as to make the Charity more sustainable. this has to be carefully balanced ensuring the welfare of the animals is not compromised. Additional funding streams which have begun and proved very successful are On line fundraisers, Open days, corporate days, corporate sponsorships, charitable trusts, grants and legacies. The Trust has plans for developing the sanctuary so it can be open and offer more to the public such as cafe, shop, education centre which has been its long term aim. Recruitment of a fundraiser is a key role to ensure Grants and donations are regular and provide sustainability going forward. Open from April to December with school visits, educational tours and events is key to fundraising and promoting compassionate living.
Support from Dean Healthcare South West Ltd has been sifnificantly reduced with the aim to become completely self sufficient by the 2021/2022 accounts. The Charity feels it would benefit from increasing its board of Trustees bringing more experience and expertise in areas that the Charity would greatly benefit from as it develops. For example Marketing, finance and policy making
We now have a regular bank of experienced volunteers.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
4
Dean Farm Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
The trustees' annual report was approved on 31 August 2021 and signed on behalf of the board of trustees by:
Ms J M Frankland Trustee
5
Dean Farm Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Dean Farm Trust
Year ended 31 March 2021
I report to the trustees on my examination of the financial statements of Dean Farm Trust ('the charity') for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
6
Dean Farm Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Dean Farm Trust (continued)
Year ended 31 March 2021
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.
LM Goulding
Louise Goulding FCCA Independent Examiner
Louise Goulding Ltd Roadside Cottage Caerwent Monmouthshire NP26 5AZ
7
Dean Farm Trust
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 234,464 | 16,233 | 250,697 | 225,131 |
| Charitable activities | 6 | 33,793 | – | 33,793 | – |
| Other trading activities | 7 | 5,614 | – | 5,614 | – |
| Investment income | 8 | 3 | – | 3 | 8 |
| | | | | ||
| Total income | 273,874 | 16,233 | 290,107 | 225,139 | |
| | | | | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | 1,801 | – | 1,801 | 14,265 |
| Costs of other trading activities | 10 | 5,046 | – | 5,046 | – |
| Investment management costs | 11 | 5,819 | – | 5,819 | 9,581 |
| Expenditure on charitable activities | 12,13 | 204,043 | 9,839 | 213,882 | 217,663 |
| | | | | ||
| Total expenditure | 216,709 | 9,839 | 226,548 | 241,509 | |
| | | | | ||
| | | | | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 57,165 | 6,394 | 63,559 | (16,370) | |
| | | | | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 56,718 | – | 56,718 | 73,088 | |
| | | | | ||
| Total funds carried forward | 113,883 | 6,394 | 120,277 | 56,718 | |
| | | | |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 22 form part of these financial statements.
8
Dean Farm Trust
Company Limited by Guarantee
Statement of Financial Position
31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 19 | 84,643 | 74,231 |
| Current assets | |||
| Stocks | 20 | 916 | 2,883 |
| Debtors | 21 | – | 240 |
| Cash at bank and in hand | 58,323 | 5,370 | |
| | | ||
| 59,239 | 8,493 | ||
| Creditors: amounts falling due within one year | 22 | 23,605 | 26,006 |
| | | ||
| Net current assets | 35,634 | (17,513) | |
| | | ||
| Total assets less current liabilities | 120,277 | 56,718 | |
| | | ||
| Net assets | 120,277 | 56,718 | |
| | | ||
| Funds of the charity | |||
| Restricted funds | 6,394 | – | |
| Unrestricted funds | 113,883 | 56,718 | |
| | | ||
| Total charity funds | 24 | 120,277 |
56,718 |
For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page. The notes on pages 12 to 22 form part of these financial statements.
9
Dean Farm Trust
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2021
These financial statements were approved by the board of trustees and authorised for issue on 31 August 2021, and are signed on behalf of the board by:
Ms J M Frankland Ms J Fry Trustee Trustee
The notes on pages 12 to 22 form part of these financial statements.
10
Dean Farm Trust
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 63,559 | (16,370) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 19,728 | 17,657 |
| Dividends, interest and rents from investments | (3) | (8) |
| Interest payable and similar charges | 3,884 | 667 |
| Accrued income | (1,099) | – |
| Changes in: | ||
| Stocks | 1,967 | 220 |
| Trade and other debtors | 240 | – |
| Trade and other creditors | (1,302) | 2,319 |
| | | |
| Cash generated from operations | 86,974 | 4,485 |
| Interest paid | (3,884) | (666) |
| | | |
| Net cash from operating activities | 83,090 | 3,819 |
| | | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 3 | 8 |
| Purchase of tangible assets | (30,140) | (7,649) |
| | | |
| Net cash used in investing activities | (30,137) | (7,641) |
| | | |
| Net increase/(decrease) in cash and cash equivalents | 52,953 | (3,822) |
| Cash and cash equivalents at beginning of year | 5,370 | 9,192 |
| | | |
| Cash and cash equivalents at end of year | 58,323 |
5,370 |
The notes on pages 12 to 22 form part of these financial statements.
11
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Carlson Suite, Vantage Point Business Village, Mitcheldean, Gloucestershire, GL17 0DD.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no significant judgements or estimations used.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
12
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
13
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - 10% straight line Plant and machinery - 15% straight line Fixtures and fittings - 20% reducing balance Motor vehicles - 20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
14
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
15
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The company is limited by guarantee.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 208,218 | – | 208,218 |
| Fundraising Income | 412 | – | 412 |
| Grants | |||
| Grants receivable | 23,895 | 9,839 | 33,734 |
| Grants receivable - capital | – | 6,394 | 6,394 |
| Subscriptions | |||
| Subscriptions | 1,939 | – | 1,939 |
| | | | |
| 234,464 | 16,233 | 250,697 | |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 224,544 | – | 224,544 |
| Fundraising Income | 587 | – | 587 |
| Grants | |||
| Grants receivable | – | – | – |
| Grants receivable - capital | – | – | – |
16
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Subscriptions | |||||
| Subscriptions | – | – | – | ||
| | | | |||
| 225,131 | – | 225,131 | |||
| | | | |||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Sale of goods/services as part of direct | |||||
| charitable activities | 33,793 | 33,793 | – | – | |
| | | | | ||
| 7. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Fundraising events | 3,107 | 3,107 | – | – | |
| Social lotteries | 2,507 | 2,507 | – | – | |
| | | | | ||
| 5,614 | 5,614 | – | – | ||
| | | | | ||
| 8. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Income from cash investments | 3 | 3 | 8 | 8 | |
| | | | | ||
| 9. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations - Fundraising expenses | 841 | 841 | 3,424 | 3,424 | |
| Donations - advertising | – | – | 465 | 465 | |
| Donations | – | – | 60 | 60 | |
| Subscriptions - other office costs | 493 | 493 | 1,425 | 1,425 | |
| Advertising | 467 | 467 | 8,891 | 8,891 | |
| | | | | ||
| 1,801 | 1,801 | 14,265 | 14,265 | ||
| | | | |
17
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
10. Costs of other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Shop costs - opening stock | 2,883 | 2,883 | 2,883 | 2,883 |
| Shop costs - purchases | 3,079 | 3,079 | – | – |
| Shop costs - closing stock | (916) | (916) | (2,883) | (2,883) |
| | | | | |
| 5,046 | 5,046 | – | – | |
| | | | | |
| Investment management costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Property repairs and maintenance | ||||
| charges | 5,819 | 5,819 | 9,581 | 9,581 |
| | | | | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Animal Care and Support | 163,866 | 9,839 | 173,704 | |
| Support costs | 40,177 | – | 40,178 | |
| | | | ||
| 204,043 | 9,839 | 213,882 | ||
| | | | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Animal Care and Support | 184,529 | – | 184,529 | |
| Support costs | 33,134 | – | 33,134 | |
| | | | ||
| 217,663 | – | 217,663 | ||
| | | |
11. Investment management costs
12. Expenditure on charitable activities by fund type
13. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Animal Care and Support | 173,704 | 26,985 | 200,689 | 205,087 |
| Governance costs | – | 13,193 | 13,193 | 12,576 |
| | | | | |
| 173,704 | 40,178 | 213,882 | 217,663 | |
| | | | |
18
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
14. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | ||||
| activity 1 | Total 2021 | Total 2020 | ||
| £ | £ | £ | ||
| Governance costs | 13,193 | 13,193 | – | |
| Support costs - Vet Fees | 26,985 | 26,985 | – | |
| | | | ||
| 40,178 | 40,178 | – | ||
| | | | ||
| 15. | Net income/(expenditure) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 19,728 | 17,657 | ||
| Operating lease rentals | 3,254 | 2,998 | ||
| | | |||
| 16. | Independent examination fees | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 1,200 | 1,800 | ||
| | | |||
| 17. | Staff costs | |||
| The total staff costs and employee benefits for the reporting period are | analysed as | follows: | ||
| 2021 | 2020 | |||
| £ | £ | |||
| Wages and salaries | 98,182 | 113,135 | ||
| Social security costs | 1,614 | 6,016 | ||
| Employer contributions to pension plans | 1,497 | 1,681 | ||
| | | |||
| 101,293 | 120,832 | |||
| | |
The average head count of employees during the year was 6 (2020: 5). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Admin staff | 2 | 1 |
| Production staff | 4 | 4 |
| | | |
| 6 | 5 | |
| | |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
19
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
18. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
19. Tangible fixed assets
| Long | ||||||
|---|---|---|---|---|---|---|
| leasehold | Plant and | Fixtures and | Motor | |||
| property | machinery | fittings | vehicles | Total | ||
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 April 2020 | 17,762 | 47,191 | 57,553 | 23,556 | 146,062 | |
| Additions | 17,231 | 9,714 | 3,195 | – | 30,140 | |
| | | | | | ||
| At 31 March 2021 | 34,993 | 56,905 | 60,748 | 23,556 | 176,202 | |
| | | | | | ||
| Depreciation | ||||||
| At 1 April 2020 | 4,298 | 20,704 | 35,142 | 11,687 | 71,831 | |
| Charge for the year | 3,499 | 8,733 | 5,122 | 2,374 | 19,728 | |
| | | | | | ||
| At 31 March 2021 | 7,797 | 29,437 | 40,264 | 14,061 | 91,559 | |
| | | | | | ||
| Carrying amount | ||||||
| At 31 March 2021 | 27,196 | 27,468 | 20,484 | 9,495 | 84,643 | |
| | | | | | ||
| At 31 March 2020 | 13,464 | 26,487 | 22,411 | 11,869 | 74,231 | |
| | | | | | ||
| 20. | Stocks | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Raw materials and consumables | 916 | 2,883 | ||||
| | | |||||
| 21. | Debtors | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Prepayments and accrued income | – | 240 | ||||
| | |
20
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
22. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 3,891 | 2,820 |
| Accruals and deferred income | 1,200 | 2,299 |
| Social security and other taxes | 2,283 | 7,261 |
| Other creditors - Mary Frankland | 16,159 | 13,626 |
| Pension contributions due | 72 | – |
| | | |
| 23,605 | 26,006 | |
| | |
23. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,497 (2020: £1,681).
24. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| General funds | 56,718 | 273,874 | (216,709) | 113,883 |
| | | | | |
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2019 | Income | Expenditure | 0 | |
| £ | £ | £ | £ | |
| General funds | 73,088 | 225,139 | (241,509) | 56,718 |
| | | | | |
| Restricted funds | ||||
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | 16,233 | (9,839) | 6,394 |
| | | | | |
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2019 | Income | Expenditure | 0 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | – | – | – |
| | | | |
21
Dean Farm Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
25. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 76,335 | 8,308 | 84,643 |
| Current assets | 59,239 | – | 59,239 |
| Creditors less than 1 year | (23,605) | – | (23,605) |
| | | | |
| Net assets | 111,969 | 8,308 | 120,277 |
| | | | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 74,231 | – | 74,231 |
| Current assets | 8,493 | – | 8,493 |
| Creditors less than 1 year | (26,006) | – | (26,006) |
| | | | |
| Net assets | 56,718 | – | 56,718 |
| | | | |
| Analysis of changes in net debt | |||
| At | |||
| At 1 Apr 2020 | Cash flows | 31 Mar 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 5,370 | 52,953 | 58,323 |
| | | |
26. Analysis of changes in net debt
22
Dean Farm Trust
Company Limited by Guarantee
Management Information
Year ended 31 March 2021
The following pages do not form part of the financial statements.
23
Dean Farm Trust
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 208,218 | 224,544 |
| Fundraising Income | 412 | 587 |
| Grants receivable | 33,734 | – |
| Grants receivable - capital | 6,394 | – |
| Subscriptions | 1,939 | – |
| | | |
| 250,697 | 225,131 | |
| | | |
| Charitable activities | ||
| Sale of goods/services as part of direct charitable activities | 33,793 | – |
| | | |
| Other trading activities | ||
| Fundraising events | 3,107 | – |
| Social lotteries | 2,507 | – |
| | | |
| 5,614 | – | |
| | | |
| Investment income | ||
| Income from cash investments | 3 | 8 |
| | | |
| | | |
| Total income | 290,107 | 225,139 |
| | |
24
Dean Farm Trust
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Costs of raising donations and legacies | ||
| Purchases | 841 | 3,424 |
| Telephone | – | 465 |
| Other office costs | 493 | 1,425 |
| Advertising | 467 | 8,891 |
| Donations made | – | 60 |
| | | |
| 1,801 | 14,265 | |
| | | |
| Costs of other trading activities | ||
| Opening stock | 2,883 | 2,883 |
| Purchases | 3,079 | – |
| Closing stock | 916 | 2,883 |
| | | |
| 5,046 | – | |
| | | |
| Investment management costs | ||
| Property repairs and maintenance charges | 5,819 | 9,581 |
| | | |
| Expenditure on charitable activities | ||
| Purchases | 52,990 | 42,306 |
| Wages and salaries | 98,182 | 113,135 |
| Employer's NIC | 1,614 | 6,016 |
| Pension costs | 1,497 | 1,681 |
| Operating leases | 3,254 | 2,998 |
| Rent | 15,000 | 8,293 |
| Light and heat | 665 | 953 |
| Insurance | 1,897 | 3,955 |
| Other establishment | 1,658 | – |
| Motor vehicle expenses | 1,145 | 3,888 |
| Other motor/travel costs | 287 | 1,190 |
| Legal and professional fees | 7,651 | 10,597 |
| Telephone | 1,074 | 1,560 |
| Other office costs | 1,765 | 2,767 |
| Depreciation | 19,728 | 17,657 |
| Other interest payable and similar charges | 3,884 | 667 |
| Sundry costs | 1,591 | – |
| | | |
| 213,882 |
217,663 |
25
Dean Farm Trust
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| | | |
| Total expenditure | 226,548 | 241,509 |
| | | |
| | | |
| Net income/(expenditure) | 63,559 |
(16,370) |
26