## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **DIRECTORS' REPORT** ## _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ The directors, who also act as trustees of Network for Animal Charitable Trust, present their report and accounts for the year ended 30 November 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust deed, the Companies Act 2006, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 (effective 1 January 2019). ## **Objectives and activities** The object of the charity and the principal activity of the company is to improve animal welfare around the world, in multi-faceted ways, to alleviate animal suffering by direct action and to increase awareness of the public and decision makers about matters of animal welfare and environmental concern. The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Public benefit** In planning the company's activities for the year, the directors confirm that the company has given due regard to the Charity Commission's legislative and regulatory requirements to comply with Section 17 of the Charities Act 2011. This report outlines how the company's achievements during the year have benefited the public. ## **Achievements and performance** The charity is involved in animal welfare campaigns in 22 countries. Among its significant activities are: - working to end the Chinese donkey skin trade, which threatens the survival of the animals in many places. In the period under review a major achievement was the closure of an illegally operating donkey slaughterhouse in Tanzania, which led to the country banning the slaughter of any donkey; - rescuing and caring for donkeys in Israel and Zimbabwe; - mass spay and neuter campaigns to help cats in Kenya and Greece; and - and the care of more than 4000 street dogs every month including those in shelters and through feeding programs around the world. In this period among the significant achievements were saving from closure a major dog shelter in Harare, Zimbabwe by agreeing to fully support it financially for two years and help reorganisation and the commitment to create a entirely new dog shelter in Bosnia and Herzogovina. ## **Financial review** The results for the year are set out on 4. It is the policy of the charity that the reserves should provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The reserves as at 31 November 2021 were £242,131 (2020: £274,135) held in unrestricted funds. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities for a significant time and ensure all ongoing projects are supported. The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 17 June 2011 as amended. The directors who served during the year and up to the date of signature of the financial statements were: B Davies (Resigned 23 February 2022) G Davies - 1 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **DIRECTORS' REPORT** ## _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ A Severson L Barritt L A Busby New directors are briefed on their legal obligations under Charity Law and the Charity Commission guidance on public benefit. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The directors' report was approved by the Board of Directors. **L Barritt** Director Dated: 4 May 2022 - 2 - **Charity Registration No. 1142700** **Company Registration No. 7382889 (England and Wales)** **NETWORK FOR ANIMALS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 NOVEMBER 2021** **PAGES FOR FILING WITH REGISTRAR** ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Directors** G Davies A Severson L Barritt L A Busby **Charity number** 1142700 **Company number** 7382889 **Registered office** 9 Bonhill Street London EC2A 4DJ **Independent examiner** Virginia Underhill FCA **Bankers** Lloyds Banks plc 8th Floor 33 Old Broad Street London, EC2N 1HZ ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Directors' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Statement of financial position|5| |Notes to the financial statements|6 - 9| ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **DIRECTORS' REPORT** ## _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ The directors, who also act as trustees of Network for Animal Charitable Trust, present their report and accounts for the year ended 30 November 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust deed, the Companies Act 2006, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 ( effective 1 January 2019 ). ## **Objectives and activities** The object of the charity and the principal activity of the company is to improve animal welfare around the world, in multi-faceted ways, to alleviate animal suffering by direct action and to increase awareness of the public and decision makers about matters of animal welfare and environmental concern . The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Public benefit** In planning the company's activities for the year, the directors confirm that the company has given due regard to the Charity Commission's legislative and regulatory requirements to comply with Section 17 of the Charities Act 2011. This report outlines how the company's achievements during the year have benefited the public. ## **Achievements and performance** Through grants , the charity is involved in animal welfare campaigns in 22 countries, working to end the Chinese donkey skin trade, rescuing and caring for donkeys in Israel and Zimbabwe, mass spay and neuter campaigns to help cats in Kenya and Greece and the feeding and care of more than 4000 street dogs every month in shelters and feeding programs around the world. ## **Financial review** The results for the year are set out on 4. It is the policy of the charity that the reserves should provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The reserves as at 31 November 2021were £242,131 (2020: £274,135) held in unrestricted funds . The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The charity is a company limited by guarantee g overned by its Memorandum and Articles of Association dated 1 7 June 2011 as amended . The directors who served during the year and up to the date of signature of the financial statements were: B Davies (Resigned 23 February 2022) G Davies A Severson L Barritt L A Busby New directors are briefed on their legal obligations under Charity Law and the Charity Commission guidance on public benefit. - 1 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **DIRECTORS' REPORT** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The directors' r eport was approved by the Board of Directors. **L Barritt** Director Dated: 4 May 2022 - 2 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE DIRECTORS OF NETWORK FOR ANIMALS CHARITABLE TRUST** I report on the financial statements of the charity for the year ended 30 November 2021, which are set out on pages 4 to 9. This report is made solely to the directors in accordance with Sections 144-147 and 151-155 of the Charities Act 2011. My work has been undertaken so that I might state to the directors 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 company and its directors for my examination work. ## **Respective responsibilities of directors and examiner** The charity’s directors, who also act as trustees for the charitable activities of Network For Animals Charitable Trust, are responsible for the preparation of the financial statements. The directors consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - (i) examine the financial statements under section 145 of the 2011 Act; - (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - (iii) to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as 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 financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - (a) which gives me reasonable cause to believe that in any material respect the requirements: - (i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and - (ii) to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; - have not been met or - (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Virginia Underhill FCA Begbies Chartered Accountants Dated: 4 May 2022 - 3 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ |**Unrestricted**
**funds**
**2021**
**Notes**
**£**
**Income from:**
Donations and legacies
**3**
241,684
Investments
**4**
75
**Total income**
241,759
**Expenditure on:**
Charitable activities
**5**
273,763
**Net (expenditure)/income for the year/**
**Net movement in funds**
(32,004)
Fund balances at 1 December 2020
274,135
**Fund balances at 30 November 2021**
242,131|**Total**
**2020**
**£**
242,256
272
242,528
70,420
172,108
102,027
274,135| |---|---| - 4 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 30 NOVEMBER 2021**_ ||||**2021**||**2020**|| |---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|
**£**|**£**| |**Current assets**||||||| |Cash at bank and in hand||243,650|||275,867|| |**Creditors: amounts falling due within**||||||| |**one year**|**8**|(1,519)|||(1,732)|| |Net current assets||||242,131||274,135| |**Income funds**||||||| |Unrestricted funds||||242,131||274,135| |||||242,131||274,135| |The company is entitled to the exemption from the audit requirement contained in|||||section 477 of the Companies|| |Act 2006, for the year ended 30 November 2021.||||||| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Board of Directors and authorised for issue on 4 May 2022 and are signed on its behalf by: L Barritt **Director** ## **Company Registration No. 7382889** - 5 - **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ ## **1 Accounting policies** ## **Charity information** Network For Animals Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Bonhill Street, London EC2A 4DJ . ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Articles of Association , the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** The funds of the charity are classified as general and are all unrestricted and expendable at the discretion of the Trustees in furtherance of the objects of the charity. ## **1.4 Incoming resources** Cash donations are recognised on receipt. Legacies are recognised on receipt . Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.5 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held with banks, other short-term liquid investments . - 6 - **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. ## **Basic financial assets** Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred. ## **Basic financial Liabilities** Basic financial liabilities, including trade and other payables are initially recognised at transaction price. Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |Donations and gifts
Legacies|**2021**
**£**
19,887
221,797
241,684|**2020**
**£**
12,517
229,739
242,256| |---|---|---| - 7 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ ## **4 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Interest receivable|75|272| |**Charitable activities**||| ||**2021**|**2020**| ||**£**|**£**| |Animal welfare|50,644|66,359| |Grant funding of activities|220,000|-| |Support costs|594|2,317| |Governance costs|2,525|1,744| ||273,763|70,420| ## **5 Charitable activities** Included in governance costs is £1,440 (2020 £1,200) payable to the external examiner. ## **6 Directors** None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **7 Employees** There were no employees other than the directors. ## **8 Creditors: amounts falling due within one year** |Other creditors
Accruals and deferred income|**2021**
**£**
78
1,441
1,519|**2020**
**£**
532
1,200
1,732| |---|---|---| - 8 - ## **NETWORK FOR ANIMALS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2021**_ ## **9 Related party transactions** During the year £220,000 of grants were provided to Network for Animals Limited, a company with the same directors, as part of its charitable activities. - 9 - NETWORK FOR ANIMALS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF NETWORK FOR ANIMALS CHARITABLE TRUST I report on the financial statements of the charity for the year ended 30 November 2021, which a￿ set out on pages 4 to 9. This report is made solely to the directOTS in acc4Jrdance with Sections 144147 and 151-155 of the Charities Act 2011. My work has been undertaken so that I might state to the directors Ihose matters l am required to Slate lo them in an Independent Examinerfs Report and lor no olhei purpose. To the fullest trxtenl permitted by law, I do not accept or assurne responsibilty to anyone other than the company and Its directors for my examination work. Respectlve rgJponslblllties ol dirKtorn and examlner The charity's directors, who also acl as trustees for the charitable activilies of Netwoth For Animals Charitabl Trust, are responsible lor the preparation of Ihe finanual stslemenls. The direclofs consider Ihal an aijdil is not required for this year under section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent examination is needed. Having satisfied myself that the Charity is nol subjecl lo audrt under company law and is eligible for independent examination, it is my responsibilrty to.. examine the financial statements under se¢Xion 145 of the 2011 Ad., lill lo follow thè procedures laid down in Ihe ggneral Direction$ given by the Charity Commi$$ion under section 14515llbl of the 2011 Ad.. and liiil lo stale whether particular matters have come lo my attention. Ba818 of Indep•ndent •xamln•rf8 rnport My exarninalion was c8rried out In 8ccord8no with Ihe gener81 Directions given by the Charity Commission. An examination includes a rewew of Ihe accounling records kept by the charity and a comparison of the financial statements presented with those records. 11 also indudes consi¢Jeralion of any unusual items or di5¢1osures in the financial slalemenls. and seeking explanations from you as Iruslees concerning any such matters. The procedures undertaken do not prowde all the evidence thal would be required in an audit and consequently no opinion is given as lo whelher the financial statements presenl a 'lwe and fair view, and the report is limited to those matters sel out In the next statemenl. Indopondent examlnerfs 8tat•m•nt In connection with my examination. no matter has come lo my attention.. lal which gives me reasonable cause lo beliève Ihal in any material resped Ihe r&quiremenls'. to keep accounting records in accordance wrth section 386 of the Companies Act 2006,. and lill to prepare financial statemenis which accord wilh the accounting records, compty with the accounting reqU1￿MentS of section 3* of the Companies Act 2(M)6 and with thè methods and principles of the Statement of Reujmmended Practice.. A￿￿untIng and Reporting by Charities,. have not been met or Ibl to which, in my opinion, attentson should be drawn in order to enable a proper understanding of the financial statements to be reached. Virginia Underhill FCA Begbies Chartered Accountants Dated.. 4 May 2022