Forever Hounds Trust
Trustees Annual Report and Unaudited Financial Statements Year ended 31 December 2022
Charity registation - 1131399
Company number - 06985367
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
Contents
| Contents | |
|---|---|
| Legal and administrative information | 4 |
| Trustees annual report | 5 |
| Objectives and activities | 5 |
| Achievements and performance in the year | 5 |
| Financial review | 8 |
| Plans for the future | 9 |
| Structure, governance & management | 9 |
| Statement of Board of Trustees’ responsibilities | 11 |
| Independent examiner’s report | 13 |
| Statement of fnancial activities | 15 |
| Balance sheet | 16 |
| Statement of cash fows | 17 |
| Notes to the fnancial statements | 18 |
Charity number 1131399 Company number 06985367
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Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
Legal and administrative information
Charity name
Forever Hounds Trust
Charity registration no.
1131399
Company registration no.
06985367
Registered office and contact details
The Keep Creech Castle Taunton TA1 2DX
Trustees
Jan Lake Judy Adams Adina Claire Paul Hoban Rachel Jackson Grace Nattrass Claire Pearce Liz Rodgers Peter Stevenson Sarah Williamson
(Co-chair)
(Co-chair) (Treasurer - appointed 25 July 2022) (appointed 21 February 2023) (resigned 28 February 2022) (Secretary - appointed 25 July 2022) (appointed 27 June 2023) (Treasurer & Secretary - resigned 16 August 2022) (appointed 21 February 2023)
Chief Executive
Caron Lane
Principal bank
Santander UK 2 Triton Square Regant’s Place, London NW1 3AN
Independent examiner
Haines Watts (Berkhamsted) Limited 4 Claridge Court Lower Kings Road Berkhamsted, Hertfordshire HP4 2AF
Accountant
Andy Nash Accounting & Consultancy Ltd Units 24 & 25, Goodsheds Container Village Hood Road, Barry CF62 5QU
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Forever Hounds Trust Annual report and financial statements
Trustees annual report
The Board of Trustees, who are also directors of the Charity for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the financial statements of Forever Hounds Trust for the year ended 31 December 2022.
The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity’s governing document and the provisions of 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
Objectives and activities
The charity has two principal objects:
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To relieve the suffering of greyhounds and lurchers who are in need of care and protection, in
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particular by rescue, rehabilitation and homing, or by the provision and maintenance, or assisting in the provision and maintenance, of kennels and other facilities for the reception and care of greyhounds and lurchers who are retired and unwanted or who are otherwise in need of care and protection;
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To advance the education of the public in matters relating to the welfare of greyhounds and lurchers
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and the prevention of cruelty and suffering among such dogs.
Alongside the homing of dogs, we also enable dogs to stay in their original homes by providing support to owners, thus preventing the dogs from ending up in rescue; we give advice to those looking to rescue a dog and offer space to dogs with high welfare or behavioural needs who would otherwise not have a safe place to go. These activities have contributed to the welfare of individual dogs and owners in alternative ways, in addition to the homing of dogs.
The charity also seeks to improve the general welfare standards within the greyhound racing industry. Forever Hounds Trust calls for a phasing out of greyhound racing in the UK. We are proud and excited to be working in partnership with other groups to bring greyhound welfare to the top of the agenda.
Public beneft
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
Achievements and performance in the year
2022 saw us getting back to normal operations following the pandemic restrictions and the challenges of the previous two years. Work continued stabilising the charity financially and strategically but in an increasingly difficult environment, with challenges raising funds, an increasing number of dogs needing help and increasing costs associated with running the Devon Centre.
We cannot do our work without our committed team of volunteers and staff. Volunteers and our staff team continue to be essential to the work we do, and the Trustees are grateful for their hard work and commitment. Volunteers support us in every aspect of our work, transporting our dogs to and enriching their lives in kennels, providing foster homes, giving behavioural advice and support to adopters, raising funds and awareness, inputting data and providing physiotherapy assessments and treatment.
Homing and kennelling
During 2022 we helped a total of 165 greyhounds and lurchers. We found homes for 106, this is 20% lower than during 2021 reflecting the more difficult nature of some dogs in our care. This, along with a “saturation” of dogs having been adopted by the public during the Covid pandemic has led to less homes for dogs being available. In addition to this we have seen a mismatch between the dogs in kennel and types of
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Annual report and financial statements
Forever Hounds Trust
home waiting for dogs. Sadly, the demand upon us to take in dogs both from the racing industry, and from homes who are unable to keep their dogs has increased dramatically during this period. Our experiences mirror those of our colleagues in the state of animal welfare and rehoming in this country to date.
We continue to support as many dogs as we can and reach out to our colleagues in other welfare charities to seek space for those dogs which we cannot accommodate within our care. We helped 59 additional dogs by arranging / transporting them to other charities for their onward journey to new homes.
Once the dogs are in their forever homes, new families continue to receive ongoing support and advice from our qualified behaviourists, for the dog’s entire life. During the year we continued to provide support to families through our Post Homing Support team. Many of our dogs have never lived in a home environment and some take time to adapt to a companion dog lifestyle as they have not been treated in this way before. The aim of this service is to support our adopters and to improve the chances of a dog being able to stay in the home that they have been matched to.
We continue to build on homing initiatives from recent years that are proving to be very successful, such as our Out of Area homing service, offering homings to those living outside of our operating regions. We have a team of home callers who efficiently support this service. And our ‘Home from Home’ for people who wish to relinquish their dog to us; we enable them to keep the dog until the point of homing. This frees up kennel space for other needy dogs and creates a better rehoming experience for those dogs moving to a new family.
Welfare
The steady stream of racing greyhounds in need of rescue continues. We are committed to report any evidence uncovered of neglect of racing or former racing greyhounds to the Greyhound Board of Great Britain (GBGB) and also, where appropriate, to the RSPCA. We will also gather evidence to inform the wider picture of the welfare issues and exploitation of greyhounds by the greyhound racing industry. We continue to support the promotion of improved greyhound and lurcher welfare through our membership of appropriate bodies and are a fully active member of the Association of Dogs and Cats Homes (ADCH).
Forever Hounds Trust supports a phasing out of greyhound racing in the UK. We were pleased to see Dogs Trust, Blue Cross and RSPCA using their resources and voice to launch their ‘cut the chase’ campaign in September 2022 calling for a phased end to the sport, which they reported should be feasible within five years.
We were also delighted to see the news that the Senedd Petitions Committee have agreed with 35,000 people who signed a petition to ban greyhound racing in Wales. This is a huge first step in the future of greyhound welfare in Wales. We are proud of the work that we did on the ‘Amazing Greys’ project in several years leading up to this petition. Our work, in partnership with Hope Rescue meant that we were trackside rescuing greyhounds as they were injured or no longer wanted, whilst gathering evidence to present to the Welsh Government. We continue to believe that ending racing is the only way to ensure we protect many thousands of greyhounds for the future.
In April, volunteers represented Forever Hounds Trust at the Vietnam Embassy in London at the global protest to ban greyhound racing in Southeast Asia, and the dog and cat meat trade in Vietnam.
The very nature of greyhound racing and the fact that lurchers are used in hare coursing means that their bodies are put under immense strain. These factors along with the dogs often being kept in poor conditions, as well as injuries being left untreated mean that rehabilitation is a vital part of the work we do.
We were very fortunate to receive funding from the Marjorie Coote Animal Charity Trust to help us with a physiotherapy trial in 2021/22. Until receiving this grant we were only able to take a limited number of dogs to assessment and treatment sessions with a physiotherapist due to costs and time. The trial showed that we could save time and money by seeing the dogs on site; at the same time the dogs were more comfortable being seen for assessment in their familiar environment. Seeing the benefits of the physiotherapy trial meant During 2022, 22 dogs benefited by being assessed and treated on site, for injuries they had sustained prior to coming into our care.
Partnership
There are many groups working throughout the UK, Ireland and indeed globally for the welfare of unwanted
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greyhounds and lurchers. Forever Hounds Trust has a long-established working relationship within this sector. We have a policy of assisting those where there are established links and where the organisation’s aims are in line with our charitable objectives. This often takes the form of accepting rescued dogs from them for homing, especially where those dogs come from areas with a high number of abandoned or unwanted dogs including Ireland. In addition to this we have developed opportunities for sharing profiles of sighthounds in the care of other organisations, to maximise homing opportunities for those dogs from within our supporter base. This has been a reciprocal arrangement between us and other charities and has worked well.
As well as working with these groups, we also accept greyhounds directly from trainers when we can, and from individual sighthound owners who are no longer able to keep their dogs. We continue to have a good relationship with Police forces; we assist in homing dogs which have been seized during illegal activities (such as coursing).
Financial sustainability
As we moved into the 2023 operating year, we reforecast our budget to consider the further impact of the cost-of-living crisis. Our generous legacy income must be balanced with other donations to reduce the impact on our cashflow and we have plans in place to reduce this risk going forward. Our CEO reviewed all our operations and scaled them back to a more achievable level in terms of our cash flow forecast. This has meant focussing rehoming activities at our rented kennels near Bath. The geographic radius covered by this site is much more accessible to our adopters and our cost base is lower and more controlled. This did mean the Devon Centre was closed.
Update on the Devon Centre
After purchasing the Centre in 2019, much work has been done to improve the site, including the installation of secure fencing, repairs to the access lane and installation of safety and security systems. When developing the 2023 budget in the Autumn of 2022, it was clear that there would be a very heavy reliance on legacy income, and while there are legacies in process the timing is something we have no control over. Waiting for legacy income, combined with increasing costs and unplanned spend on the Centre to deal with repairs meant that at the time of writing the Trustees report, the Centre has been closed and put on the market for sale.
The Trustees agreed that operations would be moved away from the Centre, with rescue, rehabilitation and homing operations carried out from rented spaces in Somerset. This gives the charity better certainty over costs, allows us to continue our mission albeit with reduced capacity and gives us time to rebuild the reserves, and develop new sustainable income streams. The Trustees took this decision to safeguard the future of the charity and are confident that we can rebuild and the dogs in our care will continue to experience the high standards of welfare and rehabilitation we provide to get them to their forever home.
This was a difficult decision to arrive at, there was a need to balance the ambitions around buying the Centre part funded by a very generous bequest from a valued supporter and the fact that the day to day running costs, high interest rates and long-term investment requirements for the site were just not affordable. The Trustees are confident that the loan will be repaid and the bequest can be recovered from the sale and will consider in the future how to use it to support the mission of the charity.
Fundraising activities and income generation
Our community fundraising activities made a return to in person events in the year. We are grateful to our network of volunteers who give their time to give Forever Hounds Trust at local events, to raise funds and also awareness of greyhounds and lurchers as family pets.
The types of events our volunteers have been involved in this year includes sighthound social walks, fun dog shows, street collections, running charity stalls, selling merchandise, tombola, raffles and Christmas fayres.
Our Big Give Christmas Challenge focussed on fundraising to support our ‘Running for Their Lives’ appeal and brought in £17,223.
Members, Friends and Supporters
Throughout 2022, our members, supporters and volunteers continued to find innovative and effective ways
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to raise funds and public awareness for our charity and our work.
We were deeply saddened to hear the news of the passing of our Patron, Shirley Watts in December 2022. Shirley was a long-time supporter, having adopted many dogs from us over the years.
We have undertaken a major project to review the data that we hold on our supporters. In the year our number of Friends, who support us with monthly or annual gifts was 220, and we had 93 Friends for Life.
Online fundraising
Facebook continues to be our best performing platform, increasing to 30,000 followers this year. The Instagram platform helped us connect with new audiences and drive our merchandise sales at Christmas with 7,000 followers.
Throughout the year we have run online campaigns focussing on individual dogs needs for surgery and treatment to rehabilitate them ready for a home. This included funds for Dasher, abandoned at just fourteen weeks old, along with her brother both in very poor condition.
Our volunteers have also run online auctions throughout the year to raise funds selling donated gifts. We were delighted that Jackie Hilton was a finalist in the ‘Volunteer of the Year’ category of the Petplan and ADCH Animal Charity Awards.
Charitable Trusts and Corporate Support
We were awarded £5,000 from Jean Sainsbury Animal Welfare Trust, £15,000 from Betty Phillips Charitable Trust, £1,000 Alice Noakes Memorial Charitable Trust, £300 from Walker 597 Trust, £1,000 from Michael and Shirley Hunt Charitable Trust, £500 from Barry Green Memorial Fund and £1,000 from William Haddon Charitable Trust to help with the veterinary costs and ongoing care of greyhounds and lurchers. With the significant veterinary bills reaching nearly £70,000 in the year this was a much-needed contribution.
We also received £1,000 from Animal Defence Trust towards the purchase and installation of CCTV.
The Pets at Home Foundation Santa Paws appeal gave us a presence in the Pets at Home store in Weymouth raising awareness of what great companions greyhounds and lurchers make as well as raising funds. The store also donated food to the dogs several times in the year.
Beautiful Joe’s Ethical Dog Treats generously donated treats for the dogs in our care several times during the year and a number of supporters also dropped into the Centre to bring treats and food for the dogs.
Legacies
Legacies continue to be an important area of income for us, and we are extremely grateful to those who remember our work in their Will. Income credited for the year, including sums accrued, totalled £318,643, 45% of our total income for the year (2021: £618,108). We are very grateful to all of those who left us Gifts in their Wills: Valerie Frances Turner, Elaine Saunders, Vera Elizabeth Swain, John Page, Dorrie Marion Davey Baker, Mary Elizabeth Richards, Phyllis Dorothy Green, Ann Hutchinson, Mary Constance Ransome, Iris Smith, Elisabeth Leah, Audrey Thelma Arkell, Francis Brian Harris and Hazel Patricia Ann Summers.
We have received a number of In Memory gifts, we are grateful that families remember us at such a difficult time. This additional revenue stream is also promoted on our web site, with a specific page of remembrance. We also supply special envelopes to friends and families should they wish to make a collection in memory of one of our supporters.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for at least 12 months from the date of signing this report.
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The Trustees have this expectation having taken measures to reduce operating costs to a manageable level through the closure of the Devon Centre we are able to better manage cash flow as we have more certainty over costs, and have created a more efficient way of working to enable us to continue to rescue a similar number of dogs in 2023 as we have in 2022. This along with expected income from legacies, better use of the contact data to develop individual giving and an extension to the existing mortgage means that the charity should be able to meet its obligations in the coming 12 months.
For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
In accordance with Charity Commission guidance, the Trustees’ policy is to aim for reserves equal to at least six months of normal expenditure being c.£240,000. At the end of the period, unrestricted reserves amounted to £514,804 (2021: £589,914) although only £192,598 (2021: £274,922) of this relates to general funds. This is slightly below the target level, but is still deemed to be within safe parameters, especially given the decrease in expenditure following the closure of the Devon centre post the financial year end.
Performance in year
The Charity made a deficit of £106,198 for the year (2021: surplus £58,980); resulting in total funds of £554,804 (2021: £661,002). This is after accounting for legacies of £318,643 (2021: £618,108).
In addition to general income from donations of £177,853 (2021 £188,283), homing donations continue to be a significant source of income £23,576 (2021: £32,355). These income streams are dependent on the generosity of the public and the hard work of our many vital volunteers; Trustees remain overwhelmed by the kindness and dedication of all the charity’s supporters.
Plans for the future
Our Vision remains a day when every sighthound is free from risk or need. Our future plans are driven by our Mission and Values, which were discussed and reconfirmed in 2019; in our Values we aim to be passionate, compassionate, and professional in everything we do.
Our agreed Mission is set out below:
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Rescue and care for unwanted, abused or abandoned greyhounds, lurchers and other sighthounds
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in any part of the country, resources allowing
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Find loving permanent homes for all our hounds
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Provide, in line with best practice, care for all our hounds
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Strive for and promote improved sighthound welfare through our campaigning work and membership,
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the Association of Dogs & Cats Homes and any other appropriate body.
To achieve our Mission, our plans include embedding the organisational changes made over the last year to get us on a secure financial footing. In the coming year we will start work on the development of a new Strategic Plan, looking at how we can further support our staff and volunteers, diversify our fundraising streams, review our approach to campaigning, raise awareness of our work and be best in class for sighthound welfare.
With the closure of the Devon Centre, the Trustees aim to sell the site and repay the loan with Charity Bank to safeguard the future of the Charity.
Structure, governance & management
Forever Hounds Trust is registered under the Companies Act 2006 as a company limited by guarantee and not having a share capital.
Forever Hounds Trust is a registered charity constituted as a company limited by guarantee under its
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Memorandum and Articles of Association. The charity registration number is 1131399 (England and Wales) and the company registration number is 06985367 (England and Wales).
Organisational Structure
The management of the Charity is the responsibility of the Trustees, who are elected and co-opted under the terms of the Memorandum of Association.
Candidates for appointment as new Trustees are interviewed by the existing Trustees. If accepted, all candidates are provided with copies of minutes from the previous four Trustee meetings, a copy of the last accounts and an update on the current financial situation and are requested to read Charity Commission documentation on the responsibilities of Trusteeship. Candidates must then confirm their willingness to be appointed and attend the next formal Trustee meeting.
Training for Trustees comes mainly from what is gained in the course of service. Matters are discussed in detail at Trustees’ Meetings, the style of which encourages sharing of knowledge and provides an opportunity for exploring the governance of the charity. The Chief Executive also attends these meetings. Trustees are encouraged to attend relevant seminars and training courses.
In the year, training completed by Trustees included ‘Good Governance for Trustees’ with the Battersea Academy, and NCVO training modules for Trustees.
Jan Lake continues as chair of the charity and retains a casting vote; she will also continue to represent the charity externally. On 14 June 2022 the Board agreed to adopt a Co-chair model for a temporary period not exceeding 12 months, whereby some of the roles exercised by the Chair, including chairing Board meetings, performance managing the CEO and further developing the charity’s governance policies and practice would be shared with Adina Claire. In June 2023 the Board agreed to extend the arrangement, pending a search for a new chair.
The full Board and changes in membership in the year or since year end are shown in the legal and administrative information on page 4. Our board has increased in size, strength and diversity.
With Peter Stevenson’s retirement from the Board, Paul Hoban took the role of Treasurer, and Claire Pearce took over as Company Secretary.
The Board is grateful to Peter Stevenson for his 10 years on the Trustee Board, and contribution in his role as Treasurer and thanks Peter for all his hard work over the years.
Forever Hounds Trust operates as a voluntary charity with a small number of paid staff. Overall strategy and policy decisions are made by the Trustees. Trustees meet formally in Board meetings at least four times a year, all online during 2022; there are also frequent and less formal interactions via sub committees, video conferences, email, ad hoc meetings, etc. Board subcommittees include Finance and Governance Committee, Strategy Committee and Homing, Kennelling and Welfare Committee.
Operational matters are delegated to the staff body, under the management of the Chief Executive. Reports on organisational activity are fed through to the sub committees and Board meetings. This approach enables the charity to be run in line with its strategy and business plans, as well as to manage risk.
The charity is led by Chief Executive, Caron Lane and within the current staff team, most of the staff work mainly or partly from home, as has been the case for several years. There are regular team conference and video calls which provide effective communication.
Staff remuneration
Staff salaries are set and reviewed by the board in line with other internal roles and similar organisations in the charitable and public sector. The Trustees are currently working to establish a formal remuneration policy and this will be approved within the next twelve months.
Risk management
The Trustees believe that there will continue to be many unwanted dogs in need of new homes, and therefore a continuing demand for the charity’s work in accordance with our objectives.
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Forever Hounds Trust Annual report and financial statements
In pursuing the charity’s objectives, the Trustees recognise that there are several risks inherent in the operation of the charity. The Finance and Governance sub-committee is charged with monitoring risk matters on behalf of the Board. The principal identified risks, and the mitigation employed are as follows:
• Kennels and homing issues: the charity ensures that kennels, whether rented spaces or owned meet the high standards required for dog welfare.
• Negative publicity, including the potential threat of social media: the fundraising and communications team are geared up to react and respond to issues as they arise
• Volunteers, Trustees and/or staff being overstretched: a staffing structure is in place under the Chief Executive to ensure that all staff are managed effectively; backup HR and occupational health support is in place and can be accessed as required.
• Finance and Reserves: financial stability continues to be a risk with reliance on legacy income. Strenuous efforts are being made to manage expenditure and develop and stabilise new income streams.
• Fraud, Misappropriation of Assets and Money Laundering: The Finance and Governance Subcommittee is alert to the risks involved, and reports to the Board on a regular basis.
• The increasing risks around Cyber security are a risk to the security of our donor and staff data, business continuity and reputation. Mitigations include selecting software which includes security as a key factor; keeping our software updated, password protection, multi factor authentication and scam/ransomware/fraud alerts regularly.
Statement of Board of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 charitable company and of the excess of expenditure over income for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue its activities.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that the content of the annual review on pages 5 to 12 of this
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document, as well as the legal and administrative information on page 4, meet the requirements of both the Trustees’ Annual Report under charity law and the Directors’ Report under company law.
They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011, 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Trustees confirm that:
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so far as each Trustee is aware, there is no relevant information of which the Charity’s independent
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examiner is unaware; and,
• each Trustee has taken all the steps that they should have taken as a Trustee/Director in order to make themselves aware of any relevant independent examination information and to establish that the Charity’s independent examiner is aware of that information.
Preparation of the report
This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006, and the exemptions available for smaller charities under the Statement of Recommended Practice.
This report was approved and authorised for issue by the Board of Trustees on 26 September 2023 and signed on its behalf by:
JAN LAKE CO-CHAIR
ADINA CLAIRE CO-CHAIR
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Independent examiner’s report
I report to the Trustees on my examination of the accounts of Forever Hounds Trust (charity number 1131399, company number 06985367) for the year ended 31 December 2022 which are set out on pages 15 to 33.
Respective responsibilities of trustees and examiner
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed.
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, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under
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section 145(5)(b) of the Charities Act; and,
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. 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 examination work, for this report, or for the statements I have made.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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
Since the Company’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 & Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006
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Act; or,
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the accounts do not accord with those records; or,
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
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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,
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the accounts have not been prepared in accordance with the methods and principles of the
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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
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and Republic of Ireland (FRS 102).
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.
BIANCA PERMAL FCA
FELLOW OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES DATED: 29 SEPTEMBER 2023
Haines Watts (Berkhamsted) Ltd 4 Claridge Court Lower Kings Road Berkhamsted, Hertfordshire HP4 2AF
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Statement of financial activities
Incorporating the Income and Expenditure Account & Statement of Realised Gains and Losses
For the year ended 31 December 2022
| Notes Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments Other - proft on sale of fxed assets Total income Expenditure on: Raising funds 6 & 7 Charitable activities 6 & 8 Total expenditure Net income/(expenditure) Transfer between funds 14 & 15 Net movement in funds Reconciliation of funds Funds brought forward 14 & 15 Funds carried forward 14 & 15 |
Unrestricted Restricted Total Total funds funds funds funds Year ended Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 31 Dec 2021 £ £ £ £ 518,360 24,800 543,160 889,433 49,639 - 49,639 89,747 88,932 - 88,932 135,290 2 - 2 438 27,436 - 27,436 - |
|---|---|
| 684,369 24,800 709,169 1,114,908 |
|
| 112,252 - 112,252 181,249 647,227 55,888 703,115 874,679 |
|
| 759,479 55,888 815,367 1,055,928 |
|
| (75,110) (31,088) (106,198) 58,980 - - - - |
|
| (75,110) (31,088) (106,198) 58,980 589,914 71,088 661,002 602,022 |
|
| 514,804 40,000 554,804 661,002 |
The notes on pages 18 to 33 form part of the financial statements.
Following a review of the financial structure during the year the cost allocation model has been reviewed to ensure costs are accurately recorded against the activity to which they should be attributed. As a result the Charity has chosen to represent the prior year figures using this model however total expenditure remains unchanged.
Charity number 1131399 Company number 06985367
15
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
Balance sheet As at 31 December 2022
| Notes Fixed assets Tangible fxed assets 10 Current assets Stock Debtors and prepayments 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Creditors: Amounts falling due in more than one year 13 Net assets Funds of the charity Restricted funds 14 & 15 Unrestricted funds Designated funds 14 & 15 General funds 14 & 15 Unrestricted funds Total funds |
£ 14,201 51,116 234,383 |
Total funds Year ended 31 Dec 2022 £ 647,813 186,391 (279,400) |
£ 20,204 93,091 313,910 |
Total funds Year ended 31 Dec 2021 £ 670,156 274,663 (283,817) |
|---|---|---|---|---|
| 299,700 (113,309) |
427,205 (152,542) |
|||
| 322,206 192,598 |
314,992 274,922 |
|||
| 554,804 | 661,002 | |||
| 40,000 514,804 |
71,088 589,914 |
|||
| 554,804 | 661,002 |
The notes on pages 18 to 33 form part of the financial statements.
The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A.
The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2022, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2022 under section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
They were approved and authorised for issue by the Board of Trustees on 26 September 2023 and signed on their behalf by:
PAUL HOBAN TREASURER
Charity number 1131399 Company number 06985367
16
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
Statement of cash flows For year ended 31 December 2022
| Cash fows from operating activities: Net income/(expenditure) for period (as per SOFA) Adjustments for: Depreciation charges Proft/(loss) on disposal of fxed assets Investment income (Increase)/decrease in stock (Increase)/decrease in trade receivables (Increase)/decrease in prepayments (Increase)/decrease in accrued income (Increase)/decrease in VAT receivable (Increase)/decrease in other debtors Increase/(decrease) in trade creditors Increase/(decrease) in accruals Increase/(decrease) in HMRC payable Increase/(decrease) in bank loans Increase/(decrease) in other creditors Net cash used in operating activities Cash fows from investing activities: Sale of fxed assets Purchase of fxed assets Net cash used in investing activities Cash fows from fnancing activities: Investment income Net cash used in fnancing activities Change in cash and cash equivalents in period Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period |
£ 21,902 (27,436) (2) 6,003 1,427 9,430 23,810 3,249 4,059 (19,420) (15,704) (1,309) (7,212) (3) |
Total Year ended 31 Dec 2022 £ (106,198) (1,206) |
£ 13,886 - (438) (11,580) (1,177) 29 106,829 (4,862) 15,161 994 89,711 72 (7,854) - |
Total Year ended 31 Dec 2021 £ 58,980 200,771 |
|---|---|---|---|---|
| 27,875 - |
- (70,482) |
|||
| (107,404) 27,875 2 |
259,751 (70,482) 438 |
|||
| 2 | 438 |
|||
| (79,527) 313,910 |
189,707 124,203 |
|||
| 234,383 | 313,910 |
The notes on pages 18 to 33 form part of the financial statements.
Charity number 1131399 Company number 06985367
17
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
Notes to the financial statements
1. Accounting policies
Basis of preparation of the financial statements
The financial statements have been prepared in accordance with ‘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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including Update Bulletin 2, and the Companies Act 2006.
The effect of any event relating to the year ended 31 December 2022, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 December 2022 and the results for the year ended on that date.
The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The financial statements have been prepared on the going concern basis as the Board of Trustees have a reasonable expectation that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing economic environment has had no material impact on this assessment.
Legal status
Forever Hounds Trust is a charitable company registered in England & Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered address is Chave Lane, Brithem Bottom, Cullompton, EX15 1NE.
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds are unrestricted funds which have been designated for a specific purpose by the Trustees.
The aim and use of each designated fund is set out in note 14 of the financial statements.
Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 14 of the financial statements.
Income
Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.
Charity number 1131399 Company number 06985367
18
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
1. Accounting policies (continued from previous page)
Income (continued from previous page)
Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.
Legacies are recognised in the statement of financial activities when there is entitlement, adequate probability and reliability of receipt and their value can be accurately measured. For both pecuniary and residuary legacies this is when probate has been granted and a reasonable estimate calculated for this income.
Income from charitable activities, including contract income and client fees, is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.
Interest is recorded when it is receivable.
Expenditure and irrecoverable VAT
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area, as outlined in note 6 of the financial statements.
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their useful life, on the following basis:
| Motor vehicles | 4 years |
|---|---|
| Offce equipment | 3 years |
| Moveable assets | 4 years |
The residual value of the freehold property is estimated to be the same as the original cost and so no depreciation has been recognied in the period.
Cash at bank and in hand
Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values but are not held for investment purposes.
Debtors and prepayments
Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and accruals
Creditors 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.
Charity number 1131399 Company number 06985367
19
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
1. Accounting policies (continued from previous page)
Financial instruments
Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.
Pensions
The Charity operates a defined contribution pension scheme which is administered by an external independent pension provider. Contributions are recognised in the Statement of Financial Activities as they fall due.
Stock
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock.
Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
Critical estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The annual depreciation charge for tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Charity number 1131399 Company number 06985367
20
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
2. Comparative statement of fnancial activities
| Notes Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments Other - proft on sale of fxed assets Total income Expenditure on: Raising funds 6 & 7 Charitable activities 6 & 8 Total expenditure Net income/(expenditure) Transfer between funds 14 & 15 Net movement in funds Reconciliation of funds Funds brought forward 14 & 15 Funds carried forward 14 & 15 |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ 833,097 56,336 889,433 89,747 - 89,747 135,290 - 135,290 438 - 438 - - - |
|---|---|
| 1,058,572 56,336 1,114,908 |
|
| 181,249 - 181,249 866,716 7,963 874,679 |
|
| 1,047,965 7,963 1,055,928 |
|
| 10,607 48,373 58,980 - - - |
|
| 10,607 48,373 58,980 579,307 22,715 602,022 |
|
| 589,914 71,088 661,002 |
Following a review of the financial structure during the year the cost allocation model has been reviewed to ensure costs are accurately recorded against the activity to which they should be attributed. As a result the Charity has chosen to represent the prior year figures using this model however total expenditure remains unchanged.
Charity number 1131399 Company number 06985367
21
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
3. Income from donations and legacies
| 4. Income from charitable activities Donations Legacies Grants Donations Legacies Grants Coronavirus Job Retention Scheme Grant Sales of dog merchandise Homing donations Dog intake fees Homing fees Sales of dog merchandise Homing donations Dog intake fees Homing fees |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ 177,853 - 177,853 318,643 - 318,643 21,864 24,800 46,664 |
|---|---|
| 518,360 24,800 543,160 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ 188,283 - 188,283 618,108 - 618,108 22,257 56,336 78,593 4,449 - 4,449 |
|
| 833,097 56,336 889,433 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ 22,403 - 22,403 23,576 - 23,576 950 - 950 2,710 - 2,710 |
|
| 49,639 - 49,639 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ 49,392 - 49,392 32,355 - 32,355 4,790 - 4,790 3,210 - 3,210 |
|
| 89,747 - 89,747 |
Charity number 1131399 Company number 06985367
22
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
- Income from other trading activities
| 50/50 club Raffes and draws Commission Friends subscriptions Sponsor-a-dog subscriptions Sales of non-dog merchandise 50/50 club Raffes and draws Sponsorship events Commission Friends subscriptions Sponsor-a-dog subscriptions Sales of non-dog merchandise |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ 6,052 - 6,052 6,344 - 6,344 19,125 - 19,125 22,655 - 22,655 10,025 - 10,025 24,731 - 24,731 |
|---|---|
| 88,932 - 88,932 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ 6,524 - 6,524 4,552 - 4,552 866 - 866 22,548 - 22,548 23,210 - 23,210 13,064 - 13,064 64,526 - 64,526 |
|
| 135,290 - 135,290 |
Charity number 1131399 Company number 06985367
23
Forever Hounds Trust
Year ended 31 December 2022
Annual report and financial statements
6. Total expenditure
| Raising funds Charitable activities Raising funds Charitable activities |
Direct staff Direct other Support Total costs costs costs funds Year ended Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ £ 58,207 36,688 17,357 112,252 355,442 238,951 108,722 703,115 |
|---|---|
| 413,649 275,639 126,079 815,367 |
|
| Direct staff Direct other Support Total costs costs costs funds Year ended Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ £ 59,493 82,985 38,771 181,249 363,292 324,286 187,101 874,679 |
|
| 422,785 407,271 225,872 1,055,928 |
Following a review of the financial structure during the year the cost allocation model has been reviewed to ensure costs are accurately recorded against the activity to which they should be attributed. As a result the Charity has chosen to represent the prior year figures using this model however total expenditure remains unchanged.
Indirect costs, including governance costs, which cannot be directly attributed to activities, were allocated between cost centres proportionate to the direct staff and other costs allocated to those activities.
An analysis of costs of raising funds split between restricted and unrestricted funds can be found in note 7.
An analysis of charitable activities split between restricted and unrestricted funds can be found in note 8.
An analysis of staff costs can be found in note 9.
Support costs includes:
| Other people costs Marketing and publicity Offce premises Professional fees Administration Depreciation Governance |
Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ 8,108 10,205 5,299 10,524 13,317 27,440 42,219 40,178 31,718 115,139 21,902 13,886 3,516 8,500 |
|---|---|
| 126,079 225,872 |
Charity number 1131399 Company number 06985367
24
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
6. Total expenditure (continued from previous page)
Governance costs includes:
| Expenditure on raising funds Statutory audit Independent examination Accounts preparation Direct staff costs Direct other costs Support costs Direct staff costs Direct other costs Support costs |
Unrestricted funds Year ended 31 Dec 2022 £ 58,207 36,688 17,357 |
Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ - 8,500 1,980 - 1,536 - |
|---|---|---|
| 3,516 8,500 |
||
Restricted Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2022 £ £ - 58,207 - 36,688 - 17,357 |
||
| 112,252 | - 112,252 |
|
| Unrestricted funds Year ended 31 Dec 2021 £ 59,493 82,985 38,771 |
Restricted Total funds funds Year ended Year ended 31 Dec 2021 31 Dec 2021 £ £ - 59,493 - 82,985 - 38,771 |
|
| 181,249 | - 181,249 |
7. Expenditure on raising funds
Following a review of the financial structure during the year the cost allocation model has been reviewed to ensure costs are accurately recorded against the activity to which they should be attributed. As a result the Charity has chosen to represent the prior year figures using this model however total expenditure remains unchanged.
Charity number 1131399 Company number 06985367
25
Forever Hounds Trust
Year ended 31 December 2022
Annual report and financial statements
8. Expenditure on charitable activities
| Direct staff costs Direct other costs Support costs Direct staff costs Direct other costs Support costs |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ 355,442 - 355,442 183,063 55,888 238,951 108,722 - 108,722 |
|---|---|
| 647,227 55,888 703,115 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ 363,292 - 363,292 316,323 7,963 324,286 187,101 - 187,101 |
|
| 866,716 7,963 874,679 |
Following a review of the financial structure during the year the cost allocation model has been reviewed to ensure costs are accurately recorded against the activity to which they should be attributed. As a result the Charity has chosen to represent the prior year figures using this model however total expenditure remains unchanged.
9. Staff costs
| Gross salaries Employer's NIC Employer's pension |
Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ 381,645 384,090 24,920 24,872 7,084 13,823 |
|---|---|
| 413,649 422,785 |
The average headcount during the period was 23 persons (2021: 23 persons).
No employee received employee benefits of more than £60,000 (2021: Nil).
The total employee benefits paid to key management personnel during the year was £59,564 (2021: £30,285).
Charity number 1131399 Company number 06985367
26
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
10. Tangible fxed assets
| 11. Debtors and prepayments Freehold Motor Offce property vehicles equipment £ £ £ Cost As at 1 January 2022 606,404 96,249 26,616 Disposals - (29,146) (25,155) As at 31 December 2022 606,404 67,103 1,461 Accumulated depreciation As at 1 January 2022 - 87,268 25,131 Charge for the year - 3,593 835 Disposals - (29,147) (24,714) As at 31 December 2022 - 61,714 1,252 Net book value As at 1 January 2022 606,404 8,981 1,485 As at 31 December 2022 606,404 5,389 209 Trade receivables Prepayments Accrued Income VAT receivable Other debtors |
Freehold Motor Offce property vehicles equipment £ £ £ 606,404 96,249 26,616 - (29,146) (25,155) |
Moveable assets Total £ £ 102,917 832,186 (33,020) (87,321) |
|---|---|---|
| 606,404 67,103 1,461 |
69,897 744,865 |
|
| - 87,268 25,131 - 3,593 835 - (29,147) (24,714) |
49,631 162,030 17,474 21,902 (33,019) (86,880) |
|
| - 61,714 1,252 |
34,086 97,052 |
|
| 606,404 8,981 1,485 |
53,286 670,156 |
|
| 606,404 5,389 209 |
35,811 647,813 |
|
| Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ - 1,427 3,752 13,182 36,056 59,866 6,466 9,715 4,842 8,901 |
||
| 51,116 93,091 |
11. Debtors and prepayments
Charity number 1131399 Company number 06985367
27
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
12. Creditors: amounts falling due within one year
| Trade creditors Accruals HMRC payable Bank loans Other creditors |
Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ 20,726 40,146 81,614 97,318 6,171 7,480 4,798 7,595 - 3 |
|---|---|
| 113,309 152,542 |
The bank loan is secured via fixed charge against the freehold property held by the Charity in Devon.
Within accruals is an amount of £78,098 (2021: £78,098) relating to a historic error in the VAT returns which is currently being resolved with HMRC. The amount accrued is based on estimates of the amount due to HMRC, assuming maximum penalties are incurred and the costs involved in resolving it.
13. Creditors: amounts falling due in more than one year
| Bank loan | Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ 279,400 283,817 |
|---|---|
| 279,400 283,817 |
The bank loan is secured via fixed charge against the freehold property held by the Charity in Devon.
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:
| Bank loan | Total Total funds funds Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ 258,608 251,047 |
|---|---|
| 258,608 251,047 |
Charity number 1131399 Company number 06985367
28
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
- Analysis of charity funds
| Unrestricted funds Designated funds Property fund Designated funds General fund Unrestricted funds Restricted funds Battersea Animal Partners Grant Co-op Local Community fund Mrs D M France - Hayhurst Foundation - Van donation Jean Salisbury Animal Welfare Trust - veterinary fees Support Adoption for Pets - veterinary fees LE Andrews - Van donation Battersea Dogs and Cats - van for behavourists Animal Friends Insurance PawPrints Charitable Trust Battersea Dogs and Cats Home Valarie White Memorial Trust Various - veterinary fees Animal Defence Trust Restricted funds Total funds |
Balance Income Expenditure Transfers Balance brought for the in the between carried forward period period funds forward Year ended Year ended Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ £ £ 314,992 - - 7,214 322,206 |
|---|---|
| 314,992 - - 7,214 322,206 274,922 684,369 (759,479) (7,214) 192,598 |
|
| 589,914 684,369 (759,479) - 514,804 |
|
6,984 - (6,984) - - 161 - (161) - - 2,813 - (2,813) - - (241) 5,000 (4,759) - - 3,246 - (3,246) - - 3,125 - (3,125) - - 2,500 - (2,500) - - 2,000 - (2,000) - - 40,000 - - - 40,000 10,000 - (10,000) - - 500 - (500) - - - 18,800 (18,800) - - - 1,000 (1,000) - - |
|
| 71,088 24,800 (55,888) - 40,000 |
|
| 661,002 709,169 (815,367) - 554,804 |
Property fund
The property fund relates to the net value of funds caught up within the kennels in Devon. It comprises of the cost of the property net of the outstanding mortgage loan.
Van donations
These funds relate to donations towards the purchase and kitting out of vans. Expenditure represents depreciation and running costs on the vans purchased.
Charity number 1131399 Company number 06985367
29
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
14. Analysis of charity funds (continued from previous page)
Veterinary fees
These were funds received to support the veterinary costs of dogs.
Battersea Animal Partners Grant
These were funds towards the Home from Home cabin at Midsomer Pet Lodge.
Co-op Local Community Fund
These were funds received to support beds, vet sundries, and other costs in the eastern region.
Animal Friends Insurance
These were funds received to support the costs of food for dogs at the Devon centre.
Pawprints Charitable Trust
These were funds to support a veterinary and physiotherapy suite at the Devon centre.
Battersea Dogs and Cats
These were funds to support safety and comfort enhancements at the Devon centre.
Valarie White Memorial Trust
These were funds to support enhancements at the Devon centre.
Animal Defence Trust
These were funds to support installation of CCTV at the Devon centre.
Charity number 1131399 Company number 06985367
30
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
14. Analysis of charity funds (continued from previous page)
| Unrestricted funds Designated funds Property fund Designated funds General fund Unrestricted funds Restricted funds LE Andrews - Van donation Battersea Animal Partners Grant Co-op Local Community fund Mrs D M France - Hayhurst Foundation - Van donation Jean Salisbury Animal Welfare Trust Support Adoption for Pets - Vet costs LE Andrews - Van donation Battersea Dogs and Cats - van for behavourists Animal Friends Insurance PawPrints Charitable Trust Battersea Dogs and Cats Home Valaries White Memorial Trust Restricted funds Total funds |
Balance Income Expenditure Transfers Balance brought for the in the between carried forward period period funds forward Year ended Year ended Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ £ £ 282,329 - - 32,663 314,992 |
|---|---|
| 282,329 - - 32,663 314,992 296,978 1,058,572 (1,047,965) (32,663) 274,922 |
|
| 579,307 1,058,572 (1,047,965) - 589,914 |
|
| 2,923 - (2,923) - - 6,984 - - - 6,984 995 - (834) - 161 3,938 - (1,125) - 2,813 - - (241) - (241) - 3,836 (590) - 3,246 4,375 - (1,250) - 3,125 3,500 - (1,000) - 2,500 - 2,000 - - 2,000 - 40,000 - - 40,000 - 10,000 - - 10,000 - 500 - - 500 |
|
| 22,715 56,336 (7,963) - 71,088 |
|
| 602,022 1,114,908 (1,055,928) - 661,002 |
Charity number 1131399 Company number 06985367
31
Forever Hounds Trust Annual report and financial statements
Year ended 31 December 2022
15. Analysis of net assets
| 16. Analysis of net debt Fixed assets Current assets Current liabilities Non current liabilities Fixed assets Current assets Current liabilities Non current liabilities Cash at bank and in hand Bank loans due within one year Bank loans due within more than one year Cash at bank and in hand Bank loans due within one year Bank loans due within more than one year |
General Designated Restricted Total funds funds funds funds Year ended Year ended Year ended Year ended 31 Dec 2022 31 Dec 2022 31 Dec 2022 31 Dec 2022 £ £ £ £ 41,409 606,404 - 647,813 259,700 - 40,000 299,700 (108,511) (4,798) - (113,309) - (279,400) - (279,400) |
|---|---|
| 192,598 322,206 40,000 554,804 |
|
| General Designated Restricted Total funds funds funds funds Year ended Year ended Year ended Year ended 31 Dec 2021 31 Dec 2021 31 Dec 2021 31 Dec 2021 £ £ £ £ 63,752 606,404 - 670,156 356,117 - 71,088 427,205 (144,947) (7,595) - (152,542) - (283,817) - (283,817) |
|
| 274,922 314,992 71,088 661,002 |
|
| At 1 At 31 January Cash Other December 2022 movements movements 2022 £ £ £ £ 313,910 (79,527) - 234,383 (7,595) 2,797 - (4,798) (283,817) 4,417 - (279,400) |
|
| 22,498 (72,313) - (49,815) |
|
| At 1 At 31 January Cash Other December 2021 movements movements 2021 £ £ £ £ 124,203 189,707 - 313,910 (7,853) 258 - (7,595) (291,413) 7,596 - (283,817) |
|
| (175,063) 197,561 - 22,498 |
Charity number 1131399 Company number 06985367
32
Year ended 31 December 2022
Forever Hounds Trust Annual report and financial statements
17. Operating lease commitments
At 31 December 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than one year | Total Total Year ended Year ended 31 Dec 2022 31 Dec 2021 £ £ - 8,333 |
|---|---|
| - 8,333 |
18. Trustee remuneration
During the year, no trustee received any remuneration (2021: £Nil). No members of the Board of Trustees received reimbursement of expenses (2021: 3 trustees received reimbursement of travel expenses totalling £405).
19. Related party transactions
During the year there were no related party transactions (2021: £Nil).
20. Post balance sheet events
As outlined in more detail in the Trustees report the Devon centre has been put up for sale after the end of the financial year. The expected sale price is higher than the current value represented by freehold property within note 10.
Charity number 1131399 Company number 06985367
33
FOREVER HOUNDS TRUST Mothing greyhwrds ond lurchers b hoppy homes