Charity registration number: 1153737
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Annual Report and Financial Statements for the Year Ended 31 December 2023
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 10 |
| Statement of Trustees' Responsibilities | 11 |
| Independent Auditors' Report | 12 to 14 |
| Statement of Financial Activities | 15 to 16 |
| Balance Sheet | 17 |
| Notes to the Financial Statements | 18 to 33 |
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Reference and Administrative Details
| Senior Management / Leadership | M Yates, General Manager |
|---|---|
| Team | R McGill, Shelter Manager |
| T Hesmondhalgh, Charity Shop Manager | |
| Trustees | A Eze |
| G Fraser (Chair) | |
| A Hall | |
| V Kingsman | |
| S Mawer | |
| J Wain | |
| A M Williams | |
| Charity Registration Number | 1153737 |
| Principal Office | The Wainwright Shelter |
| Kapellan | |
| Grayrigg | |
| Nr Kendal | |
| LA8 9BS | |
| Investment Advisors | Rathbone Investment Management |
| The Stables | |
| Levens Hall | |
| Kendal | |
| LA8 0PB | |
| Solicitors | Harrison Drury & Co Ltd |
| Bridge Mills | |
| Stramongate | |
| Kendal | |
| LA9 4BD | |
| Bankers | Charities Aid Foundation |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4TA | |
| Auditor | Stables Thompson & Briscoe |
| Chartered Accountants & Statutory Auditors | |
| Lowther House | |
| Lowther Street | |
| Kendal | |
| LA9 4DX |
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report
The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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 published in October 2019.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: A Eze G Fraser (Chair) A Hall V Kingsman (appointed 9 February 2023) S Mawer J Wain A M Williams (appointed 9 February 2023) Senior Management / Leadership M Yates, General Manager Team: R McGill, Shelter Manager T Hesmondhalgh, Charity Shop Manager
Objectives and activities
Charity Purposes
The purposes of the Charity, as laid down in the Constitution are as follows:
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To relieve the suffering of stray and unwanted animals that are in need of care and attention and to provide for sick or ill-treated animals.
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To provide and maintain an animal shelter and other facilities for the reception and care of stray and unwanted animals, and to re-home or foster where appropriate.
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To educate the public in all aspects of animal care and welfare.
How we deliver Public benefit
We provide a service for pet owners who, for whatever reason, are no longer able to care for their cats or dogs: they may have had a change of circumstances such as a move to rented accommodation where pets are not permitted, or to a care home, or they may be struggling with ill health or simply unable to care for their pet. Some owners struggle with their pet’s behaviour and feel unable to cope. In such circumstances, owners can feel reassured that we will provide care, training and enrichment whilst seeking a loving and permanent home that can meet the individual animal’s needs. Where possible, and where requested, we try to work with owners to help them to keep a much-loved pet, for example, if training and behavioural advice is needed.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
An additional commitment taken on in mid-2023 was rescue of abandoned dogs and cats in Council care. Working with a not-for-profit organisation, Animal Lifeline UK, we provide shelter places for stray and abandoned animals that have not been reclaimed within the statutory 7 days and have been scheduled for euthanasia. These animals come from across the UK.
We provide long-term advice and support to adopters who may need help with issues that can arise after the adoption. Surrendered animals have not always had the best start in life and sometimes behaviour in the new home can be challenging. The "safety-net" we provide to adopters throughout the life of the pet is much appreciated and reduces the likelihood of animals being returned to Shelter.
We are sometimes contacted by individuals and communities where a feral cat colony is growing out of control and causing local problems, e.g., through spreading disease or following attacks on domestic cats. Often, there are polarised views on feral cat colonies and we work sensitively with communities to ensure the best outcome for the cats and the community. We provide a trap-neuter-return programme whereby cats are humanely trapped, provided with veterinary treatment and neutered, and then returned to their original habitat where they can live out their lives with less impact on the community. We do not attempt to domesticate such animals as the process would be too stressful and is not considered good practice; however, we will occasionally re-home ferals to local farms as barn cats. Feral kittens, provided they are under 8 weeks’ old, can adapt to a domestic environment with intensive socialisation and we will attempt this in order to ensure a better life for them.
Occasionally, we are called to assist with animal hoarding cases, working sensitively with individuals who have taken on more pets than they can reasonably care for. This involves helping these individuals to give up some or all of their pets to make their lives more manageable and to improve the welfare of all the animals.
We provide the public, free of charge, a Forever Homes Service, whereby pet owners can register their pets with us and indicate their wishes in the event of the owner’s death. This provides peace of mind that their pet’s future is secured and that we will make every effort to find a loving home that meets their pet’s needs.
The Charity will, wherever possible, provide respite care for cats and dogs where an owner has to go to hospital or requires support with their pet during or following an illness. The Charity also supports a number of local people who are housebound and unable to manage routine care of their pets such as nail clipping and regular worming and flea treatments. This enables them to keep their much-loved companions in good health and, importantly, with their owner providing vital companionship.
Alongside rescuing, rehabilitating and re-homing animals, the Charity has an important educational purpose in reducing the number of animals that are surrendered to Shelters. In many cases, individuals have taken on a pet without understanding the cost and commitment required when taking on an animal. Some are well-meaning and loving owners but perhaps do not understand the needs of their pet and how best to manage training. Others have let their pet’s health decline as they lack knowledge in animal welfare and nutrition.
To address the Charity’s educational purpose, we speak to school groups and contribute to college programmes through work placements, lectures and careers events. We speak also to community groups to raise awareness of our work, attend country fairs and similar events, and organise our own open days. We promote good practice to the public through our newsletter and Charity pet shop.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charitable company’s aims and objectives and in planning future activities.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Fundraising disclosures
The Charity raises funds primarily through donations from the public . Those surrendering an animal may make a donation to help with the costs of care and rehoming their pet, and adopters will also make a donation when taking an animal home. Our supporters organise individual fundraisers and we have been fortunate in receiving grant income, primarily from the Samuel and Freda Parkinson Trust. Some income comes from local businesses who have nominated Animal Rescue Cumbria as their Charity of the Year. From time to time, the Charity will organise an appeal to raise funds for particular purposes such major surgery for an animal. Our Preloved for Pets Charity Shop produces a surplus which contributes to operating costs. We operate a lottery under local authority licence, and this generates a modest monthly income. The Charity has been fortunate in receiving some generous legacies over the years.
Focus of our Activities
The Charity’s activities over the year reflected the purposes for which the Charity was established. The trustees developed and adopted a new 5-year strategic plan at the start of 2023. Our work continued to focus on our four key strategic objectives as follows:
Priority 1: Care - To provide the best possible welfare standards and secure futures for the cats and dogs that come into our care.
Priority 2: Communicate - To increase our reach, promoting animal welfare and enhancing our reputation as the Shelter of choice for surrender and adoption.
Priority 3: Develop - To develop a new animal shelter to secure the future of the charity.
Priority 4: Sustain - To become financially sustainable, whilst minimizing our impact on the environment, maintaining a stable and motivated staff and volunteer force, and working in partnership with other organisations.
Key Constraints in 2023
The challenges that emerged in 2022 following the post-Covid rise in pet ownership and steep increase in inflation have deepened the UK-wide animal welfare crisis. We experienced increasing pressure on shelter places (kennels and cat pens) with rehoming requests coming from further and further afield, and unprecedented numbers of abandoned animals. Irresponsible breeding and illegal animal imports exacerbate the pressure on shelters, including our own. We have seen more young dogs, more bull breeds, and more animals relinquished due to financial pressure and relationship break-ups. Increasingly, animals come to us poorly socialized and untrained. Many have chronic health issues and surgery requirements, and this has put great pressure on our veterinary budget and our animal accommodation.
The cost-of-living crisis continued to affect us directly in increased costs of energy and animal care, in particular. Whilst the announced rise in the National Living Wage for 2024 was welcome, as it recognised more appropriately the commitment of the Charity’s dedicated staff team, it highlighted the imperative for the Charity to generate sustainable income streams for the future.
Inflation also had a major effect on the planned capital development project, with the cost of labour and materials adding significantly to the overall cost of the new shelter and increasing our capital funding gap.
PERFORMANCE AND ACHIEVEMENTS
Care of Animals
Animal intake has increased significantly this year. Cat intake has remained steady at 215 (compared with 222 the previous year) despite the closure of a bank of 10 cat pens due to feline parvovirus. The number of dogs entering our care in 2023 was 144 (compared with 115 the previous year).
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
The partnership with Animal Lifeline UK is a new area of activity with stray and abandoned pets coming from Council care across the UK. From July to December 2023, we took 72 condemned animals into our care and rehomed 69 of these, alongside our regular rehoming activity. The animals we have received through the partnership have mostly been generally healthy and well-balanced, albeit underweight, and were suitable for early re-homing. Others have required surgery and treatments for chronic conditions. The majority of the 36 dogs taken in were under the age of 2.
Communicating
The team has continued to engage with the local community, increasing the number of school visits and attending summer shows and events to meet supporters face-to-face. We were pleased to be nominated as Charity of the Year by the Lune Valley Agility Club and were invited to their annual competition and Crufts qualifying event, which draws entries from across the UK. It was a pleasure to see some of our former residents competing.
We further engaged with adopters and supporters through the Pets at Home Easter and Christmas events; the Kendal store continues to provide generous support to the shelter. We were fortunate to be supported by numerous individuals and community groups who have fundraised on our behalf over the year through sponsored walks, cold water swims, table sales, EBay sales donations, corporate donations, raffle prize donations, and many other contributions. Gifts in kind were particularly welcome at critical times this year and demonstrate the support we enjoy from businesses and individuals within our community - the loan of dehumidifiers following a flood due to burst pipes; cutting down of storm-damaged trees following a storm; and 4x4 transport of staff through snow-blocked roads from Kendal to reach the shelter. Donations to our Pre-loved for Pets shop have grown and an increasing proportion of these is gift-aided.
Our Facebook community expanded significantly and had grown to over 32,000 followers by the end of the year. Our followers have been very supportive of individual animal appeals to fund essential surgery and of our Christmas Dinner appeal which again raised over £4000.
The highlight of the year was a very successful Open Day in September which, despite rain throughout the day, drew supporters from as far afield as County Durham, Warwickshire and the west coast of Cumbria.
Develop
The trustees’ key strategic development priority is the construction of a new shelter to ensure the long-term future of the Charity. Following lengthy delays in obtaining planning consent (due to a backlog in planning applications) permission was finally granted in April 23. Detailed ground investigations presented further challenges that necessitated a re-design of the planned building. At the end of December 23, the plan was to go to tender with a shortlist of 6 potential contractors and to work towards breaking ground in late Spring.
Whilst funding was largely in place at the start of the project, inflation had a severe effect on costings and created a funding gap. The trustees worked on a pipeline of Trusts and Foundations that might support the development and by the end of the year we had been awarded a major capital grant by the Samuel and Freda Parkinson Charitable Trust, and had submitted applications to Pets’ Foundation, Petplan and a number of smaller grant-awarding bodies and were awaiting decisions.
Under new management, our Pre-loved for Pets Shop achieved a significant surplus in 2023. The shop is becoming better known for quality pet food and value-for-money donated items. The shop plays a part in educating the public in animal welfare by promoting ethically produced, biologically appropriate feeds for cats and dogs.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Sustain
They key objective in this area is to achieve financial sustainability by 2027. The running costs of the new shelter have not yet been determined; however, we assume that whilst the efficiencies of a new build may be offset by the larger footprint, general operational costs will continue to increase. The trustees have therefore decided to invest in a Business Development & Fundraising Officer to identify, develop and drive forward income-generating opportunities.
Key to the Charity’s sustainability is the dedicated group of volunteers who fulfil a variety of roles. Our small staff team was supported by volunteers (102 in December) who contributed to animal care, maintenance, and to our Preloved for Pets charity shop, as well as supporting events. Volunteers dedicated 6235 hours of their time over the year, compared with 70 volunteers who dedicated 3103 hours of their time in 2022.
We continued to support our animal care staff and volunteers who are working with increasingly diverse conditions and behaviours in the animals in our care. Staff were supported in pursuing professional qualifications and a training workshop was provided for volunteers and staff in dog body language. Staff and volunteers from the local RSPCA Branch were included.
The Charity has continued to work closely with other small rescues across the region, cooperating to support rehoming of animals. We strengthened our partnership with the RSPCA Westmorland Branch and entered a formal contract to provide ad hoc care for animals that may not be thriving and need more intensive care and enrichment than a private boarding establishment can provide.
We were delighted that our long-standing and much-valued partnership with Kendal Branch of Pets at Home continued for a further year. We participate in Pets at Home national appeals through in-store presence and benefit from customer donations and palates of animal food via their Charitable Foundation.
We are fortunate to be supported by Nutriment Raw, who make generous monthly donations of raw feed for cats and dogs. In the third year of the partnership this year, we were the focus of their Together We Care campaign to raise funds for animal shelters.
We have been grateful to a new, local business partner, Meaningful Marketing, who volunteer social media support to the Charity.
Financial review
The Charity’s income comes from various sources: donations from individuals surrendering and adopting animals, ad hoc donations from individuals, some of whom organise their own fundraisers on our behalf; fundraising events and activities such as open days; funds from partner organisations that choose us as their charity of the year; return on our investments; grants from Trusts and Foundations; legacy gifts, the latter being windfall income; and income generated through the Charity’s retail outlet in Kendal. Wherever possible, Gift Aid is claimed on eligible donations.
Income increased in 2023 to £950,668, compared with £381,717 in 2022. The increase was largely due to receipt of a grant of £500,000 from the Samuel and Freda Parkinson Charitable Trust which is restricted for the redevelopment of the shelter.
Our investments performed in line with expectations, achieving income of £79,269 compared with £71,600 in 2022. The Charity has been fortunate in receiving some generous legacies in the past and is grateful to all those who leave a gift, large or small, in their will. In 2023, legacy income was lower than in recent years, partly due to long delays in obtaining probate; legacy income amounted to £13,773, compared with £52,006 in 2022.
In addition to the grant from the Samuel and Freda Parkinson Trust to support our capital development project, the Animal Defence Trust gave a grant towards operational costs. The Trustees are most grateful for this valued support to the Charity.
Expenditure increased from the 2022 level, reflecting rising inflation and the increase in the National Living Wage, as well as additional animal numbers.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Unrestricted income for 2023 was £447,168 and unrestricted operating expenses excluding the development costs amounted to £443,220, delivering an unrestricted surplus on operating activities of £3,948 before unrealised gains and transfers. The Charity’s reserves on 31 December stood at £3,838,494, of which £3,504,277 was unrestricted.
Policy on reserves
The main features of the charity’s reserves policy are as follows:
• the need for reserves will vary depending on the Charity’s financial position and continuous assessment of the many risks the Charity faces at a particular time.
• the reserves will be assessed as part of the Charity’s mid-range planning process and the need to build reserves will also be considered in the annual planning and budgeting process.
• reserves exist either to provide short-term protection against downward fluctuations in annual revenues or capital receipts – or to provide long-term strategic financial support and development.
• the reserves policy balances the need to build up long-term reserves against the need for short-term spending on core activities.
The current priority for the unrestricted general funds of Animal Rescue Cumbria is for the development of the current site to secure the long-term future of the Shelter.
Trustees have not formally agreed a fixed budget for the capital development of the site as the actual cost will be determined through the tender process. However, it is anticipated that the cost will be in excess of £3 million and that a significant amount of this will be covered from free reserves. The Trustees have agreed that a minimum of 9 months’ operating costs will be retained in free reserves to provide protection against downward fluctuations in annual revenues. In anticipation of the start of construction in 2024, the process of draw-down of investments has started, with released funds being placed on time deposit at a favourable interest rate.
Investments and Investment Policy
The Charity investments are intended to provide an income which, together with the capital, could be used to finance the long-term running of the Charity. The trustees recognise the risk associated with investment in mainstream financial markets and accept this risk in return for the prospect of additional returns over longer periods of time. Therefore, we wish to remain largely invested at all times, subject to cash reserves being held as part of the investment management process and to cover liabilities. The investments are medium to low risk, are well diversified and incorporate a range of assets including fixed-interest stocks, UK shares and overseas shares. In line with our ethos, we have excluded from the portfolio companies that use animals to research or test their products.
Although capital appreciation is not a primary objective, taking one year with another and excluding capital withdrawals, both the income and the capital value of the fund should increase in line with inflation. The total return and performance of the investments are measured against an appropriate benchmark for the agreed risk mandate.
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The charity does not use derivative financial instruments.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in investment income due to market conditions over time. This is mitigated by the investments being managed by professional investment managers.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables, however these are generally low risk as most of these relate to gift aid reclaims.
Plans for future periods
Following a facilitated away day in 2022, the Trustees adopted a new, 5-year Strategic Plan at the start of 2023. The plan defines new goals, strategies and implementation plans within the 4 strategic priorities of care, communicate, develop and sustain.
The planned capital development project will be the main priority for 2024. The discovery, through detailed ground investigations, of additional challenges for the foundation work has delayed progress whilst options are evaluated and the most cost-effective solution identified. However, the Trustees are committed to progressing the project as quickly as possible and have agreed to a 2-stage tender process, with shortlisting of contractors early in 2024. Fundraising, both for completion of the capital project and to achieve longer-term financial sustainability, will be prioritised: trustees have formed a fundraising sub-group to support this key area; are preparing a pipeline of trusts sympathetic to animal welfare charities; and are committed to investing in a Business Development & Fundraising post to contribute to the strategic goal of long-term financial sustainability.
An important development will be the establishment of a trading company which will support planned growth in income generating activities and manage associated risk.
Training and development of our staff team and volunteers will remain a priority to enable them to meet the challenges of the post-pandemic period. We will continue to fund suitable courses and development opportunities for staff more opportunities for individuals to attend external courses and conferences: these will enable them to build a network of professional contacts whilst enhancing their knowledge and skills. For volunteers, we shall provide a range of in-house training events and visits to other shelters.
Structure, governance and management
Governing Document
Animal Rescue Cumbria (the Charity) is a charitable incorporated organisation (CIO) and is registered as a charity with the Charity Commission. The Charity was incorporated on 9 September 2013 and its Constitution outlines the objects and powers of the organisation; it is governed in accordance with the Constitution.
Organisation
A Board of Trustees is responsible for the governance and strategic direction of the Charity. The trustees meet on a regular basis to monitor progress against the strategic plan, and to manage such areas as risk, development, human resources and all aspects of finance. Trustees appoint a General Manager to take overall responsibility for the day-to-day management of the Charity. A Shelter Manager is responsible for animal care and the day-to-day operation of the Shelter. A Charity Shop, led by a part-time retail manager, generates income to support the Shelter operations. Book-keeping is outsourced to a local accountancy business.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Recruitment and appointment of trustees
In accordance with the Constitution, the Board will comprise a minimum of three trustees. Trustees are appointed for an initial term of three years by a resolution of the trustees passed at a properly convened meeting called under Part 10 of the Constitution Document.
In selecting persons to be appointed, the trustees shall consider the benefits of appointing a person who, through residence, occupation, employment or otherwise, has special knowledge of the area of benefit or who is otherwise able, by virtue of his or her personal or professional qualifications, to make a contribution to the pursuit of the objects or the management of the Charity. If, for any reason, trustees cannot be appointed in accordance with the foregoing provisions, the statutory power of appointing new or additional trustees shall be exercisable.
In the first instance, individuals are welcomed to the Charity as prospective Trustees, without voting rights, to allow them time to decide whether the role and level of commitment are suitable for them. Formal appointments are made within 6 months.
The trustees who have served during the year are listed in the Reference and Administrative Details.
Induction and training of trustees
New Trustees are provided with an information pack containing links to relevant sections of the Charity Commission website to provide an overview of the following areas:
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The strategic role and obligations of Board members, outlined in the Commission’s ‘The Essential Trustee’
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document.
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Key documents, including the Constitution, that set out the operational framework for the Charity.
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The current financial position of the Charity, including the latest published accounts.
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Minutes of recent Board meetings.
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Future plans and objectives.
In addition, new Trustees are provided with a guided tour of the Shelter and Charity Shop, and time with management staff to familiarise themselves with operational matters.
More specialised trustee training opportunities are available through external organisations, e.g. our investment management company.
Risk management
In assessing risk, the trustees recognise that some areas of operation require the acceptance and management of risk. The Charity maintains a register of the major risks to which the Charity is exposed, and has organised these under the following headings:
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Governance.
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Operational.
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Financial.
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Environmental.
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Compliance.
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HR.
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Public Relations.
A separate risk register exists for the Charity Shop, as a relatively new activity involving major investment. Additional risk registers may be required for significant activities, for example, to support a major project or capital development, which may entail very specific risks for a limited period.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Trustees' Report (continued)
Each risk is assessed on the basis of impact and likelihood, and control and mitigation procedures are identified. The register is updated every three months and reviewed by the Board of Trustees at a properly convened quarterly meeting. Trustees review and reassess the risks and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. Where appropriate, risks are covered by insurance.
All significant activities undertaken are subject to a risk review as part of the initial project assessment and implementation.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved by the trustees of the charity on 8 August 2024 and signed on its behalf by:
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G Fraser (Chair) Trustee
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Independent Auditor's Report to the Members of Animal Rescue Cumbria (The Wainwright Shelter) CIO
Opinion
We have audited the financial statements of Animal Rescue Cumbria (The Wainwright Shelter) CIO (the 'charity') for the year ended 31 December 2023, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Independent Auditor's Report to the Members of Animal Rescue Cumbria (The Wainwright Shelter) CIO (continued)
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 11), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our experience and from discussions with management. We reviewed any related correspondence and records of trustee meetings to assess compliance with laws and regulations and discussed the current position with management. We ensured the audit team were alert for any indications of non-compliance throughout the audit work.
We assessed the charity’s policies and procedures on fraud risks. No instances of actual, suspected or alleged fraud were identified by us or the charity in the year.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 13
Animal Restue Cumbria (fbe Wainwright Shelter) CIO Independent Auditor's Report to the Members ofAnimal Rescue Cumbria (The Wainwright Shelter) CIO (continued) H¢l¢n Holmes Bsc FCA (Scnior Ststutory Auditor) For and on behalf of Sthb1¢5 Thompson & Bri$. Statutory Audi Chartered A¢coU[rt & Siatutory Auditors Lowther House Lomther Streel Kendal LA9 4DX Stabl¢s Thompson & Bris¢oe is eligibte for appointment as auditor of the charity by of its eligibility for appOintht as auditorof a company under s¢¢tion 1212 of the Compani¢s Aci 21)06. Page 14
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Statement of Financial Activities for the Year Ended 31 December 2023
| Unrestricted | Restricted | Endowment | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | 2023 | |||||
| Note | £ | £ | £ | £ | ||||
| Income and Endowments from: | ||||||||
| Donations and legacies | 2 | 158,450 | 503,500 | - | 661,950 | |||
| Charitable activities | 4,756 | - | - | 4,756 | ||||
| Other trading activities | 4 | 204,662 | - | - | 204,662 | |||
| Investment income | 5 | 79,269 | - | - | 79,269 | |||
| Other income | 31 | - | - | 31 | ||||
| Total income | 447,168 | 503,500 | - | 950,668 | ||||
| Expenditure on: | ||||||||
| Raising funds | 7 | (185,412) | - | (2,461) | (187,873) | |||
| Charitable activities | (393,172) | (3,291) | - | (396,463) | ||||
| Total expenditure | (578,584) | (3,291) | (2,461) | (584,336) | ||||
| Gains/losses on investment | ||||||||
| assets | 45,870 | - | 1,921 | 47,791 | ||||
| Net (expenditure)/income | (85,546) | 500,209 | (540) | 414,123 | ||||
| Gross transfers between funds | 504,977 | (504,977) | - | - | ||||
| Net movement in funds | 419,431 | (4,768) | (540) | 414,123 | ||||
| Reconciliation of funds | ||||||||
| Total funds brought forward | 3,084,846 | 11,614 | 327,911 | 3,424,371 | ||||
| Total funds carried forward | 21 | 3,504,277 | 6,846 | 327,371 | 3,838,494 |
The notes on pages 18 to 33 form an integral part of these financial statements. Page 15
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Statement of Financial Activities for the Year Ended 31 December 2023 (continued)
| Unrestricted | Restricted | Endowment | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | 2022 | |||||
| Note | £ | £ | £ | £ | ||||
| Income and Endowments from: | ||||||||
| Donations and legacies | 2 | 161,711 | 10,535 | - | 172,246 | |||
| Other trading activities | 4 | 136,358 | - | - | 136,358 | |||
| Investment income | 5 | 71,600 | - | - | 71,600 | |||
| Other income | 1,513 | - | - | 1,513 | ||||
| Total income | 371,182 | 10,535 | - | 381,717 | ||||
| Expenditure on: | ||||||||
| Raising funds | 7 | (130,146) | - | (2,468) | (132,614) | |||
| Charitable activities | (270,033) | (6,903) | - | (276,936) | ||||
| Total expenditure | (400,179) | (6,903) | (2,468) | (409,550) | ||||
| Gains/losses on investment | ||||||||
| assets | (223,671) | - | (45,900) | (269,571) | ||||
| Net (expenditure)/income | (252,668) | 3,632 | (48,368) | (297,404) | ||||
| Gross transfers between funds | 6,930 | (6,930) | - | - | ||||
| Net movement in funds | (245,738) | (3,298) | (48,368) | (297,404) | ||||
| Reconciliation of funds | ||||||||
| Total funds brought forward | 3,330,584 | 14,912 | 376,279 | 3,721,775 | ||||
| Total funds carried forward | 21 | 3,084,846 | 11,614 | 327,911 | 3,424,371 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 21.
The notes on pages 18 to 33 form an integral part of these financial statements. Page 16
Animal Rescue Cumbria (The Wainwright Shelter) CIO
(Registration number: 1153737) Balance Sheet as at 31 December 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Fixed assets | ||||
| Tangible assets | 15 | 271,608 | 279,895 | |
| Investments | 16 | 3,411,493 | 2,480,314 | |
| 3,683,101 | 2,760,209 | |||
| Current assets | ||||
| Stocks | 17 | 12,044 | 14,539 | |
| Debtors | 18 | 25,931 | 20,964 | |
| Cash at bank and in hand | 19 | 140,016 | 643,971 | |
| 177,991 | 679,474 | |||
| Creditors: Amounts falling due within one year | 20 | (22,598) | (15,312) | |
| Net current assets | 155,393 | 664,162 | ||
| Net assets | 3,838,494 | 3,424,371 | ||
| Funds of the charity: | ||||
| Endowment funds | 327,371 | 327,911 | ||
| Restricted income funds | ||||
| Restricted funds | 21 | 6,846 | 11,614 | |
| Unrestricted income funds | ||||
| Unrestricted funds | 3,504,277 | 3,084,846 | ||
| Total funds | 21 | 3,838,494 | 3,424,371 |
The financial statements on pages 15 to 33 were approved by the trustees, and authorised for issue on 8 August 2024 and signed on their behalf by:
==> picture [109 x 75] intentionally omitted <==
G Fraser (Chair) Trustee
The notes on pages 18 to 33 form an integral part of these financial statements. Page 17
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Animal Rescue Cumbria (The Wainwright Shelter) CIO meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 18
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1,000.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Freehold land | is not depreciated |
| Freehold buildings | 2% reducing balance |
| Equipment | 20% reducing balance |
| Motor vehicles | 25% reducing balance |
| Fixtures and fittings | 25% straight line or 50% straight line based on location |
Page 19
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
The permanent endowment funds represent amounts given by Alfred Wainwright in the years up to 1992, to create a permanent endowment fund which have been invested to create a secure financial base for the charity in the future.
Income on the endowment fund is credited to the general fund on receipt.
Page 20
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 21
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Restricted | Total | |||
| General | funds | 2023 | |||
| £ | £ | £ | |||
| Donations and legacies; | |||||
| Donations from individuals | 144,677 | - | 144,677 | ||
| Legacies | 13,773 | - | 13,773 | ||
| Grants, including capital grants; | |||||
| Grants from other charities | - | 503,500 | 503,500 | ||
| 158,450 | 503,500 | 661,950 | |||
| Unrestricted | |||||
| funds | Restricted | Total | |||
| General | funds | 2022 | |||
| £ | £ | £ | |||
| Donations and legacies; | |||||
| Donations to major appeals | 5,038 | 535 | 5,573 | ||
| Donations from individuals | 104,667 | - | 104,667 | ||
| Legacies | 52,006 | - | 52,006 | ||
| Grants, including capital grants; | |||||
| Grants from other charities | - | 10,000 | 10,000 | ||
| 161,711 | 10,535 | 172,246 |
3 Income from charitable activities
| Unrestricted | |||
|---|---|---|---|
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Contract income | 4,756 | 4,756 | |
| Total for 2023 | 4,756 | 4,756 |
Page 22
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
4 Income from other trading activities
| Unrestricted | |||
|---|---|---|---|
| funds | Total | ||
| General | 2023 | ||
| £ | £ | ||
| Trading income; | |||
| Shop income from sale of donated goods and services | 38,234 | 38,234 | |
| Sales of goods and services | 156,469 | 156,469 | |
| Other trading income | 6,254 | 6,254 | |
| Events income; | |||
| Other events income | 1,650 | 1,650 | |
| Lotteries and competitions income | 2,055 | 2,055 | |
| 204,662 | 204,662 | ||
| Unrestricted | |||
| funds | Total | ||
| General | 2022 | ||
| £ | £ | ||
| Trading income; | |||
| Shop income from sale of donated goods and services | 27,400 | 27,400 | |
| Sales of goods and services | 97,563 | 97,563 | |
| Other trading income | 5,465 | 5,465 | |
| Events income; | |||
| Other events income | 3,841 | 3,841 | |
| Lotteries and competitions income | 2,089 | 2,089 | |
| 136,358 | 136,358 |
Page 23
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
5 Investment income
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | Total | ||||
| General | 2023 | 2022 | ||||
| £ | £ | £ | ||||
| Income from investments; | ||||||
| Dividends receivable from other listed investments | 67,513 | 67,513 | 69,141 | |||
| Interest receivable and similar income; | ||||||
| Interest receivable on bank deposits | 11,756 | 11,756 | 2,459 | |||
| 79,269 | 79,269 | 71,600 | ||||
| 6 | Other income | |||||
| Unrestricted | ||||||
| funds | Total | Total | ||||
| General | 2023 | 2022 | ||||
| £ | £ | £ | ||||
| Other income | 31 | 31 | 1,513 |
7 Expenditure on raising funds
a) Investment management costs
| Unrestricted | Endowment | |||||
|---|---|---|---|---|---|---|
| funds | funds | Total | ||||
| General | Permanent | 2023 | ||||
| Note | £ | £ | £ | |||
| Other investment management costs; | ||||||
| Other portfolio management costs | 14,149 | 2,461 | 16,610 | |||
| 14,149 | 2,461 | 16,610 | ||||
| Unrestricted | Endowment | |||||
| funds | funds | Total | ||||
| General | Permanent | 2022 | ||||
| Note | £ | £ | £ | |||
| Other investment management costs; | ||||||
| Other portfolio management costs | 16,125 | 2,468 | 18,593 | |||
| 16,125 | 2,468 | 18,593 |
Page 24
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| Total | |||
|---|---|---|---|
| Direct costs | 2023 | ||
| £ | £ | ||
| Costs of generating donations and legacies | 2,161 | 2,161 | |
| Costs of trading activities | 169,102 | 169,102 | |
| Investment management costs | 16,610 | 16,610 | |
| 187,873 | 187,873 | ||
| Total | |||
| Direct costs | 2022 | ||
| £ | £ | ||
| Costs of generating donations and legacies | 2,083 | 2,083 | |
| Costs of trading activities | 111,938 | 111,938 | |
| Investment management costs | 18,593 | 18,593 | |
| 132,614 | 132,614 |
8 Expenditure on charitable activities
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Restricted | Total | |||
| General | funds | 2023 | |||
| £ | £ | £ | |||
| Staff costs | 158,035 | - | 158,035 | ||
| Rates and utilities | 17,323 | - | 17,323 | ||
| Insurance | 3,688 | - | 3,688 | ||
| Postage and stationery | 3,637 | - | 3,637 | ||
| Advertising and website | 3,626 | - | 3,626 | ||
| Repairs and renewals | 4,321 | - | 4,321 | ||
| Care of animals | 33,105 | 1,500 | 34,605 | ||
| Motor and travel | 2,818 | 480 | 3,298 | ||
| Payroll and HR fees | 2,571 | - | 2,571 | ||
| Depreciation | 12,467 | 193 | 12,660 | ||
| Finance charges | 2,303 | - | 2,303 | ||
| Staff training | 1,156 | - | 1,156 | ||
| Sundry expenses | 4,750 | - | 4,750 | ||
| Development | 135,364 | - | 135,364 | ||
| 385,164 | 2,173 | 387,337 |
Page 25
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Restricted | Total | |||
| General | funds | 2022 | |||
| £ | £ | £ | |||
| Staff costs | 117,269 | 234 | 117,503 | ||
| Rates and utilities | 12,853 | - | 12,853 | ||
| Insurance | 2,798 | - | 2,798 | ||
| Postage and stationery | 1,603 | - | 1,603 | ||
| Advertising and website | 2,199 | - | 2,199 | ||
| Repairs and renewals | 1,716 | - | 1,716 | ||
| Care of animals | 30,092 | 912 | 31,004 | ||
| Motor and travel | 4,032 | 567 | 4,599 | ||
| Payroll and HR fees | 3,074 | - | 3,074 | ||
| Depreciation | 12,652 | - | 12,652 | ||
| Finance charges | 497 | - | 497 | ||
| Staff training | - | 5,166 | 5,166 | ||
| Sundry expenses | 4,126 | 24 | 4,150 | ||
| Development | 43,160 | - | 43,160 | ||
| 236,071 | 6,903 | 242,974 | |||
| Activity | |||||
| undertaken | Activity | ||||
| directly | support costs | 2023 | |||
| £ | £ | £ | |||
| Staff costs | 158,035 | - | 158,035 | ||
| Rates and utilities | 17,323 | - | 17,323 | ||
| Insurance | 3,688 | - | 3,688 | ||
| Telephone and other costs | - | 4,750 | 4,750 | ||
| Postage and stationery | - | 3,637 | 3,637 | ||
| Advertising | - | 3,626 | 3,626 | ||
| Repairs and renewals | 4,321 | - | 4,321 | ||
| Care of animals | 34,605 | - | 34,605 | ||
| Motor and travel | 3,298 | - | 3,298 | ||
| Payroll fees | - | 2,571 | 2,571 | ||
| Depreciation | 12,660 | - | 12,660 | ||
| Finance charges | - | 2,303 | 2,303 | ||
| Staff training | 1,156 | - | 1,156 | ||
| Development | 135,364 | - | 135,364 | ||
| 370,450 | 16,887 | 387,337 |
Page 26
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| Activity | |||||
|---|---|---|---|---|---|
| undertaken | Activity | ||||
| directly | support costs | 2022 | |||
| £ | £ | £ | |||
| Staff costs | 117,503 | - | 117,503 | ||
| Rates and utilities | 12,853 | - | 12,853 | ||
| Insurance | 2,798 | - | 2,798 | ||
| Telephone and other costs | - | 4,150 | 4,150 | ||
| Postage and stationery | - | 1,603 | 1,603 | ||
| Advertising | - | 2,199 | 2,199 | ||
| Repairs and renewals | 1,716 | - | 1,716 | ||
| Care of animals | 31,004 | - | 31,004 | ||
| Motor and travel | 4,599 | - | 4,599 | ||
| Payroll fees | - | 3,074 | 3,074 | ||
| Depreciation | 12,652 | - | 12,652 | ||
| Finance charges | 497 | - | 497 | ||
| Staff training | 5,166 | - | 5,166 | ||
| Development | 43,160 | - | 43,160 | ||
| 231,948 | 11,026 | 242,974 |
9 Analysis of governance and support costs
Governance costs
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Total | Total | |||
| General | 2023 | 2022 | |||
| £ | £ | £ | |||
| Audit fees | |||||
| Audit of the financial statements | 3,841 | 3,841 | 3,616 | ||
| Trustees remuneration and expenses | - | - | 22,272 | ||
| Legal fees | 3 | 3 | - | ||
| Trustee expenses | - | - | 610 | ||
| Cost of trustee meetings | 113 | 113 | - | ||
| Other governance costs | - | - | 1,872 | ||
| Accountancy & bookkeeping | 5,169 | 5,169 | 5,592 | ||
| 9,126 | 9,126 | 33,962 |
Page 27
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
10 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
M Yates
M Yates received remuneration of £Nil (2022: £22,272) and £Nil (2022: £2,037) of expenses were reimbursed to M Yates during the year.
Ms M Yates acted as General Manager in the year and was paid in that capacity in 2022. She resigned as a trustee on 31 December 2022.
A Hall
Ms A Hall is a partner in Counterculture which was paid £Nil (2022 - £1,260) in the year for provision of accounting support.
No trustees have received any other benefits from the charity during the year.
11 Auditors' remuneration
| 11 Auditors' remuneration | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Audit of the financial statements | 3,841 | 3,616 | |
| Other fees to auditors | |||
| Taxation compliance services | - | 140 |
12 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Staff costs during the year were: | |||
| Wages and salaries | 181,052 | 128,373 | |
| Social security costs | 6,766 | 9,301 | |
| Pension costs | 3,071 | 1,804 | |
| Other staff costs | 530 | 1,504 | |
| 191,419 | 140,982 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| No | No | |||
| Full | time | 1 | 1 | |
| Part | time | 11 | 8 | |
| 12 | 9 | |||
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
9 (2022 - 6) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year
The total employee benefits of the key management personnel of the charity were £87,067 (2022 - £55,048).
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,071 (2022 - £1,804).
14 Taxation
The charity is a registered charity and is therefore exempt from taxation.
15 Tangible fixed assets
| 15 Tangible fixed assets | |||||||
|---|---|---|---|---|---|---|---|
| Land and | Furniture and | ||||||
| buildings | equipment | Motor vehicles | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 1 January 2023 | 366,712 | 51,882 | 32,385 | 450,979 | |||
| Additions | - | 5,500 | - | 5,500 | |||
| At 31 December 2023 | 366,712 | 57,382 | 32,385 | 456,479 | |||
| Depreciation | |||||||
| At 1 January 2023 | 117,298 | 44,124 | 9,662 | 171,084 | |||
| Charge for the year | 4,389 | 3,717 | 5,681 | 13,787 | |||
| At 31 December 2023 | 121,687 | 47,841 | 15,343 | 184,871 | |||
| Net book value | |||||||
| At 31 December 2023 | 245,025 | 9,541 | 17,042 | 271,608 | |||
| At 31 December 2022 | 249,414 | 7,758 | 22,723 | 279,895 |
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
16 Fixed asset investments
| 16 Fixed asset investments | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Other investments | 3,411,493 | 2,480,314 | ||||||||
| Other investments | ||||||||||
| Listed | Unlisted | |||||||||
| investments | investments | Total | ||||||||
| £ | £ | £ | ||||||||
| Cost or Valuation | ||||||||||
| At 1 January 2023 | 2,327,004 | 153,310 | 2,480,314 | |||||||
| Revaluation | (503,723) | - | (503,723) | |||||||
| Additions | 2,752,531 | - | 2,752,531 | |||||||
| Disposals | (1,297,161) | (20,468) | (1,317,629) | |||||||
| At 31 December 2023 | 3,278,651 | 132,842 | 3,411,493 | |||||||
| Net book value | ||||||||||
| At 31 December 2023 | 3,278,651 | 132,842 | 3,411,493 | |||||||
| At 31 December 2022 | 2,327,004 | 153,310 | 2,480,314 | |||||||
| 17 Stock | ||||||||||
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Stocks | 12,044 | 14,539 | ||||||||
| 18 Debtors | ||||||||||
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Prepayments | 975 | 937 | ||||||||
| Accrued income | 16,171 | 9,960 | ||||||||
| Other debtors | 8,785 | 10,067 | ||||||||
| 25,931 | 20,964 | |||||||||
| 19 Cash and cash equivalents | ||||||||||
| 2023 | 2022 | |||||||||
| £ | £ | |||||||||
| Cash on hand | - | 112 | ||||||||
| Cash at bank | 140,016 | 643,859 | ||||||||
| 140,016 | 643,971 |
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
20 Creditors: amounts falling due within one year
| 20 Creditors: amounts falling due within one year | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 11,061 | 7,527 | |
| Other taxation and social security | 5,207 | 2,734 | |
| Other creditors | 1,661 | 158 | |
| Accruals | 4,669 | 4,893 | |
| 22,598 | 15,312 |
21 Funds
| 21 Funds | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance | Balance | ||||||||||
| at 1 | Other | at 31 | |||||||||
| January | Incoming | Resources | recognised | December | |||||||
| 2023 | resources | expended | Transfers | gains/(losses) | 2023 | ||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||||
| General | |||||||||||
| General fund | 304,951 | 447,168 | (429,104) | (523) | 45,870 | 368,362 | |||||
| Designated | |||||||||||
| Fixed assets | 279,895 | - | (13,787) | 5,500 | - | 271,608 | |||||
| Site redevelopment | 2,500,000 | - | (135,693) | - | - | 2,364,307 | |||||
| Samuel and Freda Parkinson | |||||||||||
| Charitable Trust | - | - | - | 500,000 | - | 500,000 | |||||
| 2,779,895 | - | (149,480) | 505,500 | - | 3,135,915 | ||||||
| Total unrestricted funds | 3,084,846 | 447,168 | (578,584) | 504,977 | 45,870 | 3,504,277 | |||||
| Restricted funds | |||||||||||
| Samuel and Freda Parkinson | |||||||||||
| Charitable Trust | 5,650 | - | (673) | (4,977) | - | - | |||||
| Microchipping programme | 5,429 | - | (1,118) | - | - | 4,311 | |||||
| Redevelopment appeal | 535 | 502,000 | - | (500,000) | - | 2,535 | |||||
| Mars Food Fund | - | 1,500 | (1,500) | - | - | - | |||||
| Total restricted funds | 11,614 | 503,500 | (3,291) | (504,977) | - | 6,846 | |||||
| Endowment funds | |||||||||||
| Permanent | |||||||||||
| Permanent endowment | 327,911 | - | (2,461) | - | 1,921 | 327,371 | |||||
| Total funds | 3,424,371 | 950,668 | (584,336) | - | 47,791 | 3,838,494 |
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Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
| Balance | Balance | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| at 1 | Other | at 31 | ||||||||||
| January | Incoming | Resources | recognised | December | ||||||||
| 2022 | resources | expended | Transfers | gains/(losses) | 2022 | |||||||
| £ | £ | £ | £ | £ | £ | |||||||
| Unrestricted funds | ||||||||||||
| General | ||||||||||||
| General fund | 158,846 | 371,182 | (386,434) | 161,357 | - | 304,951 | ||||||
| Designated | ||||||||||||
| Fixed assets | 268,790 | - | (13,745) | 24,850 | - | 279,895 | ||||||
| Unrestricted investments | 402,948 | - | - | (179,277) | (223,671) | - | ||||||
| Site redevelopment | 2,500,000 | - | - | - | - | 2,500,000 | ||||||
| 3,171,738 | - | (13,745) | (154,427) | (223,671) | 2,779,895 | |||||||
| Total unrestricted funds | 3,330,584 | 371,182 | (400,179) | 6,930 | (223,671) | 3,084,846 | ||||||
| Restricted | ||||||||||||
| Samuel and Freda Parkinson | ||||||||||||
| Charitable Trust | - | 10,000 | (4,332) | (18) | - | 5,650 | ||||||
| Van purchase | 6,912 | - | - | (6,912) | - | - | ||||||
| Microchipping programme | 8,000 | - | (2,571) | - | - | 5,429 | ||||||
| Redevelopment appeal | - | 535 | - | - | - | 535 | ||||||
| Total restricted funds | 14,912 | 10,535 | (6,903) | (6,930) | - | 11,614 | ||||||
| Endowment funds | ||||||||||||
| Permanent | ||||||||||||
| Permanent endowment | 376,279 | - | (2,468) | - | (45,900) | 327,911 | ||||||
| Total funds | 3,721,775 | 381,717 | (409,550) | - | (269,571) | 3,424,371 |
The original donation from the Samuel and Freda Parkinson Charitable Trust was restricted to the redevelopment of the site, but it was agreed by the trustees of that charity to make the donation unrestricted as that charity was being wound up and the trustees did not want to restrict the use of the money should the redevelopment prove unaffordable.
Page 32
Animal Rescue Cumbria (The Wainwright Shelter) CIO
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
22 Analysis of net assets between funds
| Unrestricted | Unrestricted | Unrestricted | Endowment | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Total funds | |||||||||
| at 31 | |||||||||
| December | |||||||||
| General | Designated | Restricted | Permanent | 2023 | |||||
| £ | £ | £ | £ | £ | |||||
| Tangible fixed assets | - | 271,608 | - | - | 271,608 | ||||
| Fixed asset investments | 219,815 | 2,864,307 | - | 327,371 | 3,411,493 | ||||
| Current assets | 171,145 | - | 6,846 | - | 177,991 | ||||
| Current liabilities | (22,598) | - | - | - | (22,598) | ||||
| Total net assets | 368,362 | 3,135,915 | 6,846 | 327,371 | 3,838,494 | ||||
| Total funds | |||||||||
| Endowment | at 31 | ||||||||
| Unrestricted funds | Restricted | funds | December | ||||||
| General | Designated | funds | Permanent | 2022 | |||||
| £ | £ | £ | £ | £ | |||||
| Tangible fixed assets | - | 279,895 | - | - | 279,895 | ||||
| Fixed asset investments | - | 2,152,403 | - | 327,911 | 2,480,314 | ||||
| Current assets | 320,263 | 347,597 | 11,614 | - | 679,474 | ||||
| Current liabilities | (15,312) | - | - | - | (15,312) | ||||
| Total net assets | 304,951 | 2,779,895 | 11,614 | 327,911 | 3,424,371 |
23 Related party transactions
There were no related party transactions in the year.
Page 33