REGISTERED COMPANY NUMBER: 07960367 (England and Wales) REGISTERED CHARITY NUMBER: 1148172
Report of the Trustees and
Financial Statements for the Year Ended 28 February 2023
for
Rainbowdogrescue (A Company Limited by Guarantee)
Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Rainbowdogrescue
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
Rainbowdogrescue
Report of the Trustees for the Year Ended 28 February 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of 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
Objectives and aims
To relieve the suffering and distress of animals who are in need of care and attention by reason of sickness or because they are strays or they have been abandoned, neglected or maltreated. In particular by the provision of a rescue service and re-homing service and foster homes for temporary accommodation of such animals. To educate members of the public on matters concerning animal welfare.
Public benefit
The paragraphs below set out our activities, achievements and performance during the year, which are directly related to the objects and purposes for which the charity exists. The charity achieves its principal objects and purposes through taking into its care dogs and other animals which are unwanted, lost or abandoned and then providing all necessary care until such time as an appropriate alternative home can be identified.
Volunteers
Each year, Rainbowdogrescue relies upon the help of willing volunteers. This is not valued in the financial statements. It is estimated that in the current year this would be equivalent to approximately 1,000 hours. If this was valued at the national minimum wage rate (which at the year end was of £9.50), the value of these services to Rainbowdogrescue would be in the region of £9,500.
Page 1
Rainbowdogrescue
for the Year Ended 28 February 2023
Report of the Trustees
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The purpose of the charity is to provide the provision of life time care to animals whether they have been retired, bequeathed or require long term foster care, the latter involving those animals with specific requirements relating to behavioural problems where kennelling is inappropriate. The charity also facilitates the rescue and rehoming of animals which have been received through being unwanted, abandoned, and ill-treated or through local authority stray dog contracts.
In all cases the charity operates to the highest level of animal welfare care, consistent with ever changing statutory requirements within the funding constraints typically experienced by small to medium sized animal charities.
Shop income has decreased slightly from last year. However the past two years of shop income are more than for any year pre the pandemic, so the amount for this year is considered to be satisfactory. Shop income is the charity's main source of income. Donations have remained similar to last year.
Therefore overall, the income of the charity has slightly fallen this year, which although disappointing is not surprising given the testing times that are being suffered at the moment sue to increases in the cost of living. However, the charity has achieved its objectives for the year and we are as always extremely grateful to those people that have made donations to the charity.
The support of our volunteers is a valuable resource. Their support ranges from animal care to fundraising and we are grateful for their support. We have continued to benefit from a good number of people volunteering. We are also able to continue to offer one of our long term volunteer 6 hours paid work in our charity shop.
Gifts in kind: We are grateful for the donations of animal food and other goods including animal beds, blankets and toys which we have received.
We intend to continue to build on the strong foundations we have made over the last few years, which unfortunately stalled last year due to the pandemic. We are now able to expand to enable us to take in dogs whose owners are too old or too ill to continue to care for them, which will ease the worry for them and their families.
This year we have been overwhelmed with requests for help from people who want to keep their pets but due to the currant climate can't afford it. We have now put on our website a form which people can fill in requesting our help.
FINANCIAL REVIEW
Financial position
The charity has continued its good work during the year and enjoyed another reasonable year financially despite rising costs. The total income for the year is £46,135 (2022 - £48,065). This includes donations of £15,561 (2022 - £15,638) and other trading activities of £30,574 (2022 - £32,427). Costs for the year are £47,810 (2022 - £44,150). Costs are tightly controlled by the charity. The deficit for the year was £1,675 (2022 surplus of £3,915) which has resulted in the accumulated reserves at the end of the year being £32,372 (2022 - £34,047), all of which are unrestricted reserves.
Principal funding sources
Rainbowdogrescue runs financially from income generated from shop sales, from fund raising activities and general donations.
Investment policy and objectives
Rainbowdogrescue currently has no investment policy, all monies received are held in the principal current account which is not interest bearing.
Reserves policy
Rainbowdogrescue currently has no reserves policy as largely income matches expenditure for most of the year.
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Rainbowdogrescue
Report of the Trustees
for the Year Ended 28 February 2023
FUTURE PLANS
Our aim for this year is to get more involved in helping homeless dogs, by donating dog food plus any veterinary treatment needed for them. Also we are taking on more fundraising to make people aware of our cause which will include trying to get more volunteers and fosterers to help us move forward with our cause. Due to the currant climate we are being asked to help dog owners cover the cost of their pet being in desperate need of veterinary care, this is something we hopefully will be able to help with.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New Trustees are appointed by the existing Trustees, in accordance with the governing document. Trustees are carefully selected for their experience and professional skills.
Key management remuneration
Mrs A Patel is the principal trustee and her remuneration is at a rate that is considered appropriate to her activities . No other trustees receive remuneration and give their time freely.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07960367 (England and Wales)
Registered Charity number
1148172
Registered office
30 Ash Green Dudley West Midlands DY1 3QL
Trustees
Mrs Angela Patel Charity trustee Mr Robert Stanley Adams Pastor Mr Shadie Carrier Consultant Mr Anil Patel Carrier Solicitor
Independent Examiner
Mr Andrew J Smith Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 3
Rainbowdogrescue
Report of the Trustees for the Year Ended 28 February 2023
.......................................................................... Mrs Angela Patel - Trustee
Page 4
Independent Examiner's Report to the Trustees of Rainbowdogrescue
Independent examiner's report to the trustees of Rainbowdogrescue ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. 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 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.
Mr Andrew J Smith
Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Date: .............................................
Page 5
Rainbowdogrescue
Statement of Financial Activities
for the Year Ended 28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 15,561 | 15,638 |
| Other trading activities | 3 | 30,574 | 32,427 |
| Total | 46,135 | 48,065 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Raising funds | 32,471 | 31,937 | |
| Other | 15,339 | 12,213 | |
| Total | 47,810 | 44,150 | |
| NET INCOME/(EXPENDITURE) | (1,675) | 3,915 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 34,047 | 30,132 | |
| TOTAL FUNDS CARRIED FORWARD | 32,372 | 34,047 |
The notes form part of these financial statements
Page 6
Rainbowdogrescue
Balance Sheet
28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 8 | 2,805 | 3,448 |
| CURRENT ASSETS | |||
| Debtors | 9 | 1,715 | 1,652 |
| Cash at bank and in hand | 37,285 | 37,472 | |
| 39,000 | 39,124 | ||
| CREDITORS | |||
| Amounts falling due within one year | 10 | (9,433) | (8,525) |
| NET CURRENT ASSETS | 29,567 | 30,599 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 32,372 | 34,047 | |
| NET ASSETS | 32,372 | 34,047 | |
| FUNDS | 12 | ||
| Unrestricted funds | 32,372 | 34,047 | |
| TOTAL FUNDS | 32,372 | 34,047 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Rainbowdogrescue
Balance Sheet - continued
28 February 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs Angela Patel - Trustee
The notes form part of these financial statements
Page 8
Rainbowdogrescue
Notes to the Financial Statements for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£) and the figures are rounded to the nearest round pound.
The financial statements have been prepared on a going concern basis.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grant Income
Government grants are recognised at the point that they are receivable and there is reasonable assurance that the company will comply with the conditions attached to them. They are valued at the consideration received or to be received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & equipment - 10% on cost Motor vehicles - 25% on cost Computer equipment - 15% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Debtors and creditors
Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Rainbowdogrescue
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES - continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Donations | 15,561 | 15,638 | |
| 3. | OTHER TRADING ACTIVITIES | ||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Fundraising events | 619 | 519 | |
| Shop income | 29,955 | 31,908 | |
| 30,574 | 32,427 | ||
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 643 | 786 | |
| Other operating leases | 7,800 | 6,768 | |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS | ||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Trustees' salaries | 12,000 | 12,000 | |
| Trustees' social security | 138 | 436 | |
| 12,138 | 12,436 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
continued...
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Rainbowdogrescue
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 6. | STAFF COSTS | ||
|---|---|---|---|
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Wages and salaries | 14,924 | 14,528 | |
| Social security costs | 138 | 436 | |
| 15,062 | 14,964 | ||
| The average monthly number of employees during the year was as follows: | |||
| 28.2.23 | 28.2.22 | ||
| Trustee | 1 | 1 | |
| Other | 1 | 1 | |
| 2 | 2 | ||
| No employees received emoluments in excess of £60,000. | |||
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 15,638 | ||
| Other trading activities | 32,427 | ||
| Total | 48,065 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Raising funds | 31,937 | ||
| Other | 12,213 | ||
| Total | 44,150 | ||
| NET INCOME | 3,915 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 30,132 | ||
| TOTAL FUNDS CARRIED FORWARD | 34,047 |
continued...
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Rainbowdogrescue
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 8. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Fixtures | Motor | Computer | ||||
| & equipment | vehicles | equipment | Totals | |||
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1 March 2022 and 28 February 2023 | 6,440 | 2,350 | 996 | 9,786 | ||
| DEPRECIATION | ||||||
| At 1 March 2022 | 2,992 | 2,350 | 996 | 6,338 | ||
| Charge for year | 643 | - | - | 643 | ||
| At 28 February 2023 | 3,635 | 2,350 | 996 | 6,981 | ||
| NET BOOK VALUE | ||||||
| At 28 February 2023 | 2,805 | - | - | 2,805 | ||
| At 28 February 2022 | 3,448 | - | - | 3,448 | ||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 28.2.23 | 28.2.22 | |||||
| £ | £ | |||||
| Other debtors | 1,125 | 1,125 | ||||
| Prepayments | 590 | 527 | ||||
| 1,715 | 1,652 | |||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 28.2.23 | 28.2.22 | |||||
| £ | £ | |||||
| Social security and other taxes | - | 448 | ||||
| Other creditors | 8,239 | 6,943 | ||||
| Accruals and deferred income | 1,194 | 1,134 | ||||
| 9,433 | 8,525 | |||||
| 11. | LEASING AGREEMENTS | |||||
| Minimum lease payments under non-cancellable operating leases fall due | as follows: | |||||
| 28.2.23 | 28.2.22 | |||||
| £ | £ | |||||
| Within one year | 7,200 | 7,200 |
continued...
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Rainbowdogrescue
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.3.22 | in funds | 28.2.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 34,047 | (1,675) | 32,372 |
| TOTAL FUNDS | 34,047 | (1,675) | 32,372 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 46,135 | (47,810) | (1,675) |
| TOTAL FUNDS | 46,135 | (47,810) | (1,675) |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.3.21 | in funds | 28.2.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 30,132 | 3,915 | 34,047 |
| TOTAL FUNDS | 30,132 | 3,915 | 34,047 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 48,065 | (44,150) | 3,915 |
| TOTAL FUNDS | 48,065 | (44,150) | 3,915 |
continued...
Page 13
Rainbowdogrescue
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
13. RELATED PARTY DISCLOSURES
As in previous years, some expenses relating to the charity were paid for personally by trustee Angela Patel. The value of these expenses are credited to a loan account in her name. The value of these expenses this year was £1,296 (2022 - £1,770) and the total amount owed to Angela at the year end was £8,241 (2022 - £6,944)
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Rainbowdogrescue
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Detailed Statement of Financial Activities for the Year Ended 28 February 2023 |
||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 15,561 | 15,638 |
| Other trading activities | ||
| Fundraising events | 619 | 519 |
| Shop income | 29,955 | 31,908 |
| 30,574 | 32,427 | |
| Total incoming resources | 46,135 | 48,065 |
| EXPENDITURE | ||
| Other | ||
| Vets fees and drugs | 12,929 | 8,259 |
| Food | 10 | 1,554 |
| Kennel fees | 2,400 | 2,400 |
| 15,339 | 12,213 | |
| Support costs | ||
| Management | ||
| Trustees' salaries | 12,000 | 12,000 |
| Trustees' social security | 138 | 436 |
| Wages | 2,924 | 2,528 |
| Rent | 7,800 | 6,768 |
| Rates and water | 232 | 216 |
| Insurance | 893 | 809 |
| Light and heat | 461 | 465 |
| Telephone and internet | 809 | 650 |
| Printing, post and stationery | 21 | 16 |
| Sundries | 148 | 14 |
| Travelling and motor expenses | 2,159 | 1,630 |
| Repairs and consumables | 30 | 560 |
| PayPal and eBay fees | 931 | 743 |
| Promotional and merchandising | 1,633 | 1,863 |
| Card charges | 155 | 120 |
| Bank charges | 203 | 47 |
| Money stolen | - | 1,000 |
| Interest on late tax payments | (68) | 7 |
| 30,469 | 29,872 |
This page does not form part of the statutory financial statements
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Rainbowdogrescue
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Detailed Statement of Financial Activities for the Year Ended 28 February 2023 |
||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Management | ||
| Depreciation | ||
| Fixtures and equipment | 643 | 643 |
| Computer equipment | - | 143 |
| 643 | 786 | |
| Governance costs | ||
| Accountancy and legal fees | 1,359 | 1,279 |
| Total resources expended | 47,810 | 44,150 |
| Net (expenditure)/income | (1,675) | 3,915 |
This page does not form part of the statutory financial statements
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