## **Forever Hounds Trust** # **Trustees Annual Report and Unaudited Financial Statements Year ended 31 December 2023** Charity registation - 1131399 Company number - 06985367 **Year ended 31 December 2023** **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|9| |Plans for the future|9| |Structure, governance & management|10| |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 3 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** ## **Legal and administrative information** Charity name Forever Hounds Trust Charity registration no. 1131399 Company registration no. ## 06985367 Registered office and contact details Chave Lane Brithem Bottom Cullompton EX15 1NE Trustees Jan Lake (Co-chair until 23 November 2023) Judy Adams (resigned 19 July 2024) Adina Claire (Co-chair until 23 November 2023) Paul Hoban Rachel Jackson (appointed 21 February 2023) Claire Pearce (Chair from 23 November 2023, Secretary until 14 February 2024) Liz Rodgers (appointed 27 June 2023) Sarah Williamson (appointed 21 February 2023, resigned 15 April 2024) Patron Dr Marc Abraham OBE, BVM&S MRCVS Chief Executive Caron Lane Principal bank Santander UK 2 Triton Square Regant’s Place, London NW1 3AN Independent examiner Dux Advisory Limited Kennel Club House Gatehouse Way Aylesbury, Buckinghamshire HP19 8DB Accountant Enaid Accountancy Ltd Units 24 & 25, Goodsheds Container Village Hood Road, Barry CF62 5QU Charity number 1131399 Company number 06985367 4 **Year ended 31 December 2023** **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 2023. 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: - To relieve the suffering of greyhounds and lurchers who are in need of care and protection, in - 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; - To advance the education of the public in matters relating to the welfare of greyhounds and lurchers - 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 2023 was a difficult year, but despite the challenges we kept our focus on our primary purpose to rescue, rehabilitate and home greyhounds and lurchers. In common with the wider rescue community the year was challenging financially despite the significant amount of work done on reducing the cost base over the last three years. Like many rescue charities the impact of coming out of lockdowns, having to re-build our community fundraising, the slow processing of legacies, the cost-of-living crisis, the challenges of the dogs we take (many of which are physically and psychologically damaged extending their stay with us) and increasing veterinary costs created a point in the Spring of 2023 where cash was significantly depleted. In the Spring Trustees took the decision that operations had to be consolidated to just one site, and the immediate financial pressures at the time in May 2023 led to mothballing the Centre and focus operations at the rented spaces in Somerset. This was a huge blow for the charity, as owning our own space was a long-held ambition, only realised in 2020. This gave us time to consider all options, including the sale of the Centre to secure the future of the charity. The Trustees felt it prudent to explore all options. While there was some interest in the site, it did not Charity number 1131399 Company number 06985367 5 **Year ended 31 December 2023** Annual report and financial statements ## **Forever Hounds Trust** lead to a sale. The time working from our rented spaces, did mean we were able to rebuild funds with very tight cost control. Therefore, the Trustees took a decision to focus all operations in Devon and reopen the Centre in November 2023. That sadly meant ending a long and cherished relationship with our partner in Somerset where we had rented spaces and from where hundreds of dogs had found their forever homes. Despite the uncertainty and change in the year our dedicated staff, volunteers, and supporters continued with our primary work of the rescue, rehabilitation, and homing of greyhounds and lurchers. 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, enriching their lives in kennels, providing foster homes, giving behavioural advice and support to adopters, raising funds and awareness, inputting data, site maintenance, graphic design and supporting our volunteer recruitment process. ## Homing and kennelling During 2023 we found homes for 87 greyhounds and lurchers. This is 17% lower during 2022 reflecting the fact that we paused intake for part of the year while we moved between the Centre and our rented spaces to minimise stress to the hounds. 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 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 because of the cost-of-living crisis continues to be challenging. Our experiences mirror those of our colleagues in the state of animal welfare and rehoming in this country. 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 29 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 (PHS) 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. **•** Winston had been adopted from FHT as a 6-month-old puppy, having had a difficult start in life. Winston and his siblings had been found abandoned, and in extremely poor condition. As Winston entered his adolescent phase, his adopter contacted us for help with some reactivity towards other dogs and people. Winston’s reactions had been increasing in severity, and she was struggling to manage him on walks. A behaviourist from our PHS team was able to visit Winston at home, determine the underlying emotions behind his reactivity and discuss a training plan with his adopter. Winston’s case is still ongoing, but he is making great progress, and his adopter has been able to keep him because of our support. **•** Missy had been living happily with her adopters for around 6 months, when they contacted FHT for advice. Overnight, 10-year-old lurcher Missy’s behaviour had suddenly changed. She had gone from being an affectionate, confident dog to cowering and yelping whenever her adopters went to touch her around the head and neck. Having discussed Missy’s behaviour in detail, our behaviourist felt certain that there was a medical reason for this sudden change. We were able to discuss our concerns with Missy’s vet and physiotherapist, leading to her referral to a specialist vet and diagnosis with severe spinal pain. Missy’s pain is now controlled through medication, and she is back to her old self. We continue to build on homing initiatives from recent years that are proving to be successful, such as our Out of Area homing service; whilst our Centre is in Devon, we have homed dogs in areas outside of the South West including Derbyshire, Oxfordshire, Surrey, Suffolk, and Wales. And our Home from Home scheme for people who wish to relinquish their dog to us and can keep their dog with them 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. **•** Nessa was a 10-month-old bull lurcher who had already been passed between several homes in her short life so far. Having seen her advertised as “free to a good home” on social media, her new owner had been concerned for Nessa’s wellbeing and had taken her on – but was not able to care for a young lurcher in the long term. Through the Home from Home Scheme, we were able to place Nessa into Charity number 1131399 Company number 06985367 6 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements her forever home, with experienced adopters and a new canine brother to play with. She is doing well, and her adopters are delighted with her. **•** A change in circumstances left Alfie & Fen’s owner without permanent accommodation. She had no choice but to leave both 8-year-old whippet Alfie and 14-year-old lurcher Fenn alone in a friend’s garage all day, whilst she was at work. We worked quickly to assess both dogs and find suitable permanent homes for them via the Home from Home Scheme. Alfie was quickly adopted and is thriving in his forever home, but poor Fenn was diagnosed with terminal cancer during our veterinary intake check. Despite this, we were able to place her into a loving end-of-life home. Fenn sadly passed away after around 4 months in her new home but was able to spend that time in the lap of luxury. ## 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, 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). 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. Following a generous donation to fund a successful physiotherapy trial in 2022, this is now a standard assessment for dogs coming into our care. 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. In September representatives from Forever Hounds Trust attended the Greyhound Around the Globe Conference in Edinburgh, the third international meeting of greyhound advocates. Lawmakers and nonprofit leaders assembled throughout the day to discuss the politics of racing and the challenges of rescue in Australia, England, Ireland, Northern Ireland, New Zealand, Scotland, and Wales. It was a chance to review strategies and joint working, with the continued aim of seeing an end to greyhound racing across the world. We have attended the All-party Parliamentary Dog Advisory Welfare Group, and in February 2024 we were invited to present at the APDAWG “State of Welfare” meeting. We were able to highlight the plight of greyhounds and lurchers whilst with their owners and trainers, the health issues they are suffering from and the vast numbers waiting for rescue space. Forever Hounds Trust developed a comprehensive submission to the Welsh and Scottish Government’s consultations on proposals to improve animal welfare in early 2024. ## Partnership There are many groups working throughout the UK and Ireland for the welfare of unwanted 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. 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). ## Administration The staff team have worked hard in the year to streamline processes, for volunteer registration and homing Charity number 1131399 Company number 06985367 7 **Forever Hounds Trust** **Year ended 31 December 2023** Annual report and financial statements to have better visibility of our work and to enhance the volunteer experience. They have developed helpful toolkits for volunteers covering a variety of topics around fundraising and events. ## Fundraising activities and income generation Our community fundraising activities are back to the same level of activity as we saw before lockdown. We are grateful to our network of volunteers who give their time to give Forever Hounds Trust at local events to raise funds and awareness of greyhounds and lurchers as family pets. We have a small team who continue to successfully run online auction and fundraising activities that were started out of necessity due to lockdown. This breaks down geographical boundaries for our financial supporters and helps extend our reach. An intrepid group of Welsh volunteers set themselves the challenge of walking the entire length of Offa’s Dyke, the border between England and Wales. They walked the 177 miles in a series of weekend hikes raising over £2,700 for the hounds in our care. 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 ‘Born to live .... not to race’ appeal and brought in £15,070. ## Members, friends and supporters Throughout 2023, our members, supporters and volunteers continued to find innovative and effective ways to raise funds and public awareness for our charity and our work. In the year our number of Friends, who support us with monthly or annual gifts was 441, and we had 91 Friends for Life. ## Online fundraising Facebook continues to be our best performing platform, increasing to 32,000 followers this year. The Instagram platform helped us connect with new audiences and drive our merchandise sales at Christmas with 7,800 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 in extremely poor condition. Generous supporters have donated unique gifts to online raffles this year including handmade felt models of hounds and a stay in a holiday cottage; we have more donations in the year ahead building on this success. ## Charitable trusts and corporate support We were awarded £8,000 from Petplan Charitable Trust for our ‘Clean Bill of Health’ project; a £3,000 Cost of Living Grant to be used against kennelling costs and veterinary bills from the Association of Dogs and Cats Homes (supported by Dogs Trust, RSPCA, HSI and Joanna Toole Foundation); £10,000 towards veterinary costs from Pets Foundation; £500 from Valerie White Memorial Trust; £1,000 from The Animal Defence Trust; £1,000 from The Michael and Shirley Hunt Charitable Trust; £1,500 from The Ostacchini Family Charitable Trust towards kennel enrichment; £20,000 from The Arthur Camp Foundation towards veterinary costs; £1,000 from The William Haddon Charitable Trust and £1,000 from The Sylvia Aitken Charitable Trust. The Pets at Home Foundation Santa Paws appeal gave us a presence in the Pets at Home stores in Tiverton and Weymouth raising awareness of what great companions greyhounds and lurchers make as well as raising funds. The stores 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. Charity number 1131399 Company number 06985367 8 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## 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 £269,020, 41% of our total income for the year (2022: £318,643). We are very grateful to all of those who left us Gifts in their Wills: Gwen Dow, Patricia Jacqueline Fox, Muriel Cave, Yvonne Ann Barlow, Barbara Lowe, Hazel Patricia Summers, Patricia Mary Wilding, Timothy John Hill, Ann Elizabeth White, Mary Francine Rhodes, Elizabeth Bernadette Green, Gillian Bradnam, Hilary Whatley, Stephen W Turner, Mary Constance Ransome, David Ian Holman, and June Holt. 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. The trustees have confidence the charity will be able to meet its obligations in the coming 12 months. This expectation is made having taken measures to reduce operating costs to a manageable level. The consolidation of operations to the Devon centre provides better certainty on costs and cashflow. 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 £694,420 (2022: £514,804) although only £365,215 (2022: £192,598) of this relates to general funds. This represents around 9 months’ normal expenditure. Significant reserves are necessary as the charity depends largely on fundraising and on homing dogs, which can be extremely variable both in time taken and in expenditure related to the welfare of the dogs. ## Performance in year The Charity achieved a surplus of £139,616 within the year (2022: deficit of £106,198); resulting in total funds of £694,420 (2022: £554,804). In addition to general income from donations of £222,259 (2022: £177,853), homing donations continue to be an important source of income £20,919 (2022: £23,576). 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 Vision, mission and values; in our Values we aim to be passionate, compassionate, and professional in everything we do. Our Mission is to rescue unwanted, abused, or abandoned greyhounds, lurchers and other sighthounds in any part of the country. We care for them to a high standard at our Centre in Devon, finding loving, permanent Charity number 1131399 Company number 06985367 9 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** homes for them all, resources allowing. We strive for and promote improved sighthound welfare. The Trustees have launched the 2024-2027 strategy “Recovery, Stability and Visibility”. Our approach is to deliver our work through a small number of paid staff supported by a large group of volunteers. We focus on quality of care and rehabilitation creating an individual plan for every hound to get them to their forever home. We do not focus on numbers – the very nature of the plight of greyhounds and lurchers means that in many cases we take in physically and psychologically damaged hounds therefore cannot put a time on how long it will take to rehabilitate them. Our strategic priorities are: - Working to a high standard in welfare and homing - Attracting and retaining the very best staff and volunteers - Engaging supporters and funders and active in the messaging to phase out greyhound racing - Secure financial footing ## 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 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 appointed and co-opted under the terms of the Memorandum of Association. Candidates for appointment as new Trustees are interviewed by the existing Trustees and the Chief Executive. If accepted, all candidates are provided with copies of minutes from the previous four Trustee meetings, a copy of the last accounts, an update on the current financial situation and are requested to read Charity Commission documentation on the responsibilities of Trusteeship and Companies House documents on Director’s responsibilities. 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 and Trustees are signposted to various online training and workshops for Trustee to fill in any gaps in their knowledge. 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. At the AGM meeting in November 2023, Jan Lake stepped down as Chair of the Board but continues to be an active and valued Trustee. The Board is grateful for Jan’s leadership, a role she has held through challenging times. Jan will continue to be the lead Trustee for homing, kennelling and welfare and will co-chair the Homing, Kennelling and Welfare Committee. At the same time Adina Claire stepped down as co-chair, and the Board thanks Adina for her support to Jan and the wider Board. The Board elected Claire Pearce as Chair from 23 November 2023. The full Board and changes in membership in the year or since year end are shown on page 4. Sinead Crawley was appointed Company Secretary on 14 February 2024 when Claire Pearce stood down from that role. 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 five times a year, all online during 2023; and came together for an in-person Strategy Away Day in the year. Charity number 1131399 Company number 06985367 10 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements There are also frequent and less formal interactions via sub committees, video conferences, email, and ad hoc meetings. Board sub committees are Finance and Governance Committee, Strategy Committee, and Homing, Kennelling and Welfare Committee At the time of writing the report a Communications and Fundraising and Volunteering Committee are being created. Operational matters are delegated to the staff body, under the management of the Chief Executive, Caron Lane. 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 as well as to manage risk. ## 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. ## 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. 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 subcommittee is charged with monitoring risk matters on behalf of the Board. The principal identified risks, and the mitigation employed are as follows: **•** Kennel and homing issues: the charity ensures that kennels, whether rented spaces or owned meet the high standards required for dog welfare compliant with the Association of Dogs and Cats Homes minimum welfare and operational standards. **•** Negative publicity, including the potential threat of social media: the Board and staff 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, 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. **•** The Centre, including unexpected costs and the difficulty of disposal to realise the asset. The Board and staff are aware of the challenges the Centre pose having had the site assessed and are gradually rectifying issues through a costed plan. **•** Increase to costs, these are monitored monthly, with management accounts being reviewed quarterly. Budgets are re-forecasted to reflect any changes and to ensure sufficient cashflow. ## 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. Charity number 1131399 Company number 06985367 11 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** 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: - select suitable accounting policies and then apply them consistently; - 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 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: - so far as each Trustee is aware, there is no relevant information of which the Charity’s independent - 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 23 July 2024 and signed on its behalf by: ## Claire Pearce Claire Pearce (Aug 30, 2024 14:13 GMT+1) ## **CLAIRE PEARCE CHAIR** Charity number 1131399 Company number 06985367 12 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## **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 2023 which are set out on pages 15 to 32. ## 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: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general directions given by the Charity Commission under - section 145(5)(b) of the Charities Act; and, - to state whether particular matters have come to my attention. 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: - accounting records were not kept in respect of the Company as required by section 386 of the 2006 - Act; or, - the accounts do not accord with those records; or, - the accounts 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 accounts 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 Charity number 1131399 Company number 06985367 13 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** 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: 30 AUGUST 2024** Dux Advisory Limited Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB Charity number 1131399 Company number 06985367 14 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## **Statement of financial activities** Incorporating the Income and Expenditure Account & Statement of Realised Gains and Losses For the year ended 31 December 2023 |**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 2023**
**31 Dec 2023**
**31 Dec 2023**
31 Dec 2022
**£**
**£**
**£**
£
490,920
49,559
**540,479**
543,160
40,682
-
**40,682**
49,639
62,918
-
**62,918**
88,932
2,838
-
**2,838**
2
13,333
-
**13,333**
27,436| |---|---| ||**610,691**
**49,559**
**660,250**
709,169| ||111,367
-
**111,367**
112,252
321,908
87,359
**409,267**
703,115| ||**433,275**
**87,359**
**520,634**
815,367| ||| ||**177,416**
**(37,800)**
**139,616**
(106,198)
-
-
**-**
-| ||**177,416**
**(37,800)**
**139,616**
(106,198)
514,804
40,000
**554,804**
661,002| ||**692,220**
**2,200**
**694,420**
554,804| The notes on pages 18 to 32 form part of the financial statements. Charity number 1131399 Company number 06985367 15 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** ## **Balance sheet** As at 31 December 2023 |**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**|**£**
7,428
152,137
225,137|**Total**
**funds**
**Year ended**
**31 Dec 2023**

**£**
**630,938**




**338,359**
**(274,877)**|




£

14,201
51,116
234,383|Total
funds
Year ended
31 Dec 2022

£
647,813




186,391
(279,400)| |---|---|---|---|---| ||**384,702**
(46,343)||299,700
(113,309)|| ||327,005
365,215||


322,206
192,598|| |||**694,420**||554,804| |||**2,200**


**692,220**||40,000


514,804| ||||
|| |||**694,420**||554,804| The notes on pages 18 to 32 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 2023, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2023 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 23 July 2024 and signed on their behalf by: **PAUL HOBAN TREASURER** Charity number 1131399 Company number 06985367 16 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## **Statement of cash flows** For year ended 31 December 2023 |**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
**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**|**£**

16,875
(13,333)
(2,838)
6,773
-
1,987
(99,444)
6,466
(10,030)
(970)
(60,219)
(6,171)
(4,799)
670|**Total**
**Year ended**
**31 Dec 2023**

**£**
**139,616**






**(165,033)**|



£

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)| |---|---|---|---|---| ||13,333||27,875|| |||**(25,417)**

**13,333**

**2,838**||(107,404)

27,875

2| ||2,838||
2|| ||

||

|| |||**(9,246)**
**234,383**||(79,527)
313,910| |||**225,137**||234,383| The notes on pages 18 to 32 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 2023** ## **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 2023, 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 2023 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 2023** **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 recognised 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 2023** ## 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 2023** **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 2022
31 Dec 2022
31 Dec 2022
£
£
£
518,360
24,800
543,160
49,639
-
49,639
88,932
-
88,932
2
-
2
27,436
-
27,436| |---|---| ||684,369
24,800
709,169| ||112,252
-
112,252
647,227
55,888
703,115| ||759,479
55,888
815,367| ||| ||(75,110)
(31,088)
(106,198)
-
-
-| ||(75,110)
(31,088)
(106,198)
589,914
71,088
661,002| ||514,804
40,000
554,804| Charity number 1131399 Company number 06985367 21 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** ## 3. Income from donations and legacies |4. Income from charitable activities
Donations
Legacies
Grants
Donations
Legacies
Grants
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 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
218,400
3,859
**222,259**
269,020
-
**269,020**
3,500
45,700
**49,200**| |---|---| ||**490,920**
**49,559**
**540,479**| ||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 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
17,596
-
**17,596**
20,919
-
**20,919**
64
-
**64**
2,103
-
**2,103**| ||**40,682**
**-**
**40,682**| ||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| Charity number 1131399 Company number 06985367 22 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements 5. 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
Commission
Sales of non-dog merchandise|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**Year ended**
**Year ended**
**Year ended**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
5,913
-
**5,913**
18,152
-
**18,152**
19,016
-
**19,016**
19,837
-
**19,837**| |---|---| ||**62,918**
**-**
**62,918**| ||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| Following a review of the income categorisation as part of the finance review at the end of 2022, in 2023 friends subscriptions and sponsor a dog subscriptions have been incorporated within donations as they do not meet the definition of trading income within the SORP. The figures for 2023 are £27,573 and £10,501 respectively. Charity number 1131399 Company number 06985367 23 **Forever Hounds Trust** **Year ended 31 December 2023** 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 2023**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
**£**
59,057
38,157
14,153
**111,367**
158,267
198,989
52,011
**409,267**| |---|---| ||**217,324**
**237,146**
**66,164**
**520,634**| ||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| 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: |Management staff costs
Other people costs
Marketing and publicity
Offce premises
Professional fees
Administration
Release of VAT provision (see note 12)
Depreciation
Governance|**Total**
Total
**funds**
funds
**Year ended**
Year ended
**31 Dec 2023**
31 Dec 2022
**£**
£
**43,788**
-
**3,993**
8,108
**2,269**
5,299
**-**
13,317
**31,967**
42,219
**24,155**
31,718
**(60,447)**
-
**16,875**
21,902
**3,564**
3,516| |---|---| ||**66,164**
126,079| Charity number 1131399 Company number 06985367 24 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## 6. Total expenditure (continued from previous page) Governance costs includes: |Independent examination
Accounts preparation|**Total**
Total
**funds**
funds
**Year ended**
Year ended
**31 Dec 2023**
31 Dec 2022
**£**
£
**1,980**
1,980
**1,584**
1,536| |---|---| ||**3,564**
3,516| ## 7. Expenditure on raising funds |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 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
59,057
-
**59,057**
38,157
-
**38,157**
14,153
-
**14,153**| |---|---| ||**111,367**
**-**
**111,367**| ||Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Dec 2022
31 Dec 2022
31 Dec 2022
£
£
£
58,207
-
58,207
36,688
-
36,688
17,357
-
17,357| ||112,252
-
112,252| Charity number 1131399 Company number 06985367 25 **Forever Hounds Trust** **Year ended 31 December 2023** Annual report and financial statements ## 8. Expenditure on charitable activities |Staff costs
Direct staff costs
Direct other costs
Support costs
Direct staff costs
Direct other costs
Support costs
Gross salaries
Employer's NIC
Employer's pension|**Unrestricted**
**funds**
**Year ended**
**31 Dec 2023**
**£**
158,267
111,630
52,011|
**Restricted**
**Total**

**funds**
**funds**

**Year ended**
**Year ended**

**31 Dec 2023**
**31 Dec 2023**

**£**
**£**

-
**158,267**

87,359
**198,989**

-
**52,011**| |---|---|---| ||**321,908**|
**87,359**
**409,267**| ||Unrestricted
funds
Year ended
31 Dec 2022
£
355,442
183,063
108,722|
Restricted
Total

funds
funds

Year ended
Year ended

31 Dec 2022
31 Dec 2022

£
£

-
355,442

55,888
238,951

-
108,722| ||647,227|
55,888
703,115| |||**Total**
Total
**funds**
funds
**Year ended**
Year ended
**31 Dec 2023**
31 Dec 2022
**£**
£
**239,122**
381,645
**17,492**
24,920
**4,498**
7,084| |||**261,112**
413,649| ## 9. Staff costs The average headcount during the period was 12 persons (2022: 23 persons). No employee received employee benefits of more than £60,000 (2022: Nil). The total employee benefits paid to key management personnel during the year was £56,958 (2022: £59,564). Charity number 1131399 Company number 06985367 26 **Year ended 31 December 2023** **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 2023
606,404
67,103
1,461
Disposals
-
(23,387)
-
As at 31 December 2023
**606,404**
**43,716**
**1,461**
**Accumulated depreciation**
As at 1 January 2023
-
61,714
1,252
Charge for the year
-
3,593
209
Disposals
-
(23,387)
-
As at 31 December 2023
**-**
**41,920**
**1,461**
**Net book value**
As at 1 January 2023
**606,404**
**5,389**
**209**
As at 31 December 2023
**606,404**
**1,796**
**-**
Prepayments
Accrued Income
VAT receivable
Other debtors|**Freehold**
**Motor**
**Offce**
**property**
**vehicles**
**equipment**
**£**
**£**
**£**
606,404
67,103
1,461
-
(23,387)
-|
**Moveable**

**assets**
**Total**

**£**
**£**

69,897
**744,865**

-
**(23,387)**| |---|---|---| ||**606,404**
**43,716**
**1,461**|
**69,897**
**721,478**| ||-
61,714
1,252
-
3,593
209
-
(23,387)
-|
34,086
**97,052**

13,073
**16,875**

-
**(23,387)**| ||**-**
**41,920**
**1,461**|
**47,159**
**90,540**| ||**606,404**
**5,389**
**209**|
**35,811**
**647,813**| ||**606,404**
**1,796**
**-**|
**22,738**
**630,938**| |||**Total**
Total
**funds**
funds
**Year ended**
Year ended
**31 Dec 2023**
31 Dec 2022
**£**
£
**1,765**
3,752
**135,500**
36,056
**-**
6,466
**14,872**
4,842| |||**152,137**
51,116| ## 11. Debtors and prepayments Charity number 1131399 Company number 06985367 27 **Forever Hounds Trust** Annual report and financial statements **Year ended 31 December 2023** ## 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 2023**
31 Dec 2022
**£**
£
**19,756**
20,726
**21,395**
81,614
**-**
6,171
**4,522**
4,798
**670**
-| |---|---| ||**46,343**
113,309| The bank loan is secured via fixed charge against the freehold property held by the Charity in Devon. Within accruals is an amount of £17,699 (2022: £78,098) relating to a historic error in the VAT returns which has now been resolved with HMRC with a significant reduction in the provision at year end following successful resolution. The amount accrued was paid to HMRC in March 2024 plus costs incurred in resolving this amount. ## 13. Creditors: amounts falling due in more than one year |Bank loan|**Total**
Total
**funds**
funds
**Year ended**
Year ended
**31 Dec 2023**
31 Dec 2022
**£**
£
**274,877**
279,400| |---|---| ||**274,877**
279,400| 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 2023**
31 Dec 2022
**£**
£
**252,180**
258,608| |---|---| ||**252,180**
258,608| Charity number 1131399 Company number 06985367 28 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements 14. Analysis of charity funds |**Unrestricted funds**
Designated funds
Property fund
Designated funds
General fund
**Unrestricted funds**
**Restricted funds**
Support dogs
PawPrints Charitable Trust
ADCH cost of living
Kennel enrichment
Polytunnel
Various - veterinary fees
**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 2023**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
**£**
**£**
322,206
-
-
4,799
**327,005**| |---|---| ||**322,206**
**-**
**-**
**4,799**
**327,005**
192,598
610,691
(433,275)
(4,799)
**365,215**| ||**514,804**
**610,691**
**(433,275)**
**-**
**692,220**| ||-
3,859
(3,859)
-
**-**
40,000
-
(40,000)
-
**-**
-
3,000
(3,000)
-
**-**
-
1,500
(1,500)
-
**-**
-
2,200
-
-
**2,200**
-
39,000
(39,000)
-
**-**| ||**40,000**
**49,559**
**(87,359)**
**-**
**2,200**| ||**554,804**
**660,250**
**(520,634)**
**-**
**694,420**| ## 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. ## Support dogs These were funds received to support costs of dogs within the kennels. ## Pawprints Charitable Trust These were funds to support a veterinary and physiotherapy suite at the Devon centre. ADCH cost of living These were funds to support with kennel and veterinary costs. ## Kennel enrichment These were funds to support kennel enrichment activities. ## Polytunnel These were funds to support construction of a polytunnel at the Devon centre. ## Veterinary fees These were funds received to support the veterinary costs of dogs. Charity number 1131399 Company number 06985367 29 **Forever Hounds Trust** **Year ended 31 December 2023** 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
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
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| ## 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. Charity number 1131399 Company number 06985367 30 **Year ended 31 December 2023** **Forever Hounds Trust** Annual report and financial statements ## 14. Analysis of charity funds (continued from previous page) Van donations These were funds received to support the purchase of new vans. Animal Friends Insurance These were funds received to support the costs of food for dogs 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. ## 15. Analysis of net assets |Fixed assets
Current assets
Current liabilities
Non current liabilities
Fixed assets
Current assets
Current liabilities
Non current liabilities|**General**
**Designated**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**funds**
**Year ended**
**Year ended**
**Year ended**
**Year ended**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**31 Dec 2023**
**£**
**£**
**£**
**£**
24,534
606,404
-
**630,938**
382,502
-
2,200
**384,702**
(41,821)
(4,522)
-
**(46,343)**
-
(274,877)
-
**(274,877)**| |---|---| ||**365,215**
**327,005**
**2,200**
**694,420**| ||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| Charity number 1131399 Company number 06985367 31 **Forever Hounds Trust** **Year ended 31 December 2023** Annual report and financial statements ## 16. Analysis of net debt |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|**At 1**
**At 31**
**January**
**Cash**
**Other**
**December**
**2023**
**movements**
**movements**
**2023**
**£**
**£**
**£**
**£**
234,383
(9,246)
-
**225,137**
(4,798)
276
-
**(4,522)**
(279,400)
4,523
-
**(274,877)**| |---|---| ||**(49,815)**
**(4,447)**
**-**
**(54,262)**| ||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)| ## 17. Trustee remuneration During the year, no trustee received any remuneration (2022: £Nil). No members of the Board of Trustees received reimbursement of expenses (2022: £Nil). ## 18. Related party transactions During the year there were no related party transactions (2022: £Nil). Charity number 1131399 Company number 06985367 32 FOREVER HOUNDS TRUST Mothing greyhwrds ond lurchers b hoppy homes