Charity registration number 1153992 CORNWALLANIMAL HOSPITAL CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
CORNWALLANIMAL HOSPITAL CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees WT Chalker W Krey J Cosgrove RJCock A Johnson (Appointed 22 November 2023) (Appointed 25 April 2024) G Batral Charity number 1153992 Principal address Cam Tannery Wilson Way Pool Redrulh Cornwall United Kingdom TR15 3RX Auditor Azets Audit Services Woodlands Court Truro Business Park Truro Cornwall United Kingdom TR4 9NH Solicitors stephens Scown 1 High Cross Street St. Austell Cornwall United Kingdom PL25 4AX
CORNWALLANIMAL HOSPITAL CHARITY CONTENTS Page Trustees, report Independent auditorfs report Statement of financial a1VitieS 10-11 Balan sheet 12 Statement of cash flows 13 Notes to the financial statements 14-25
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 2024. The financial statements have been prepared in accordance with the aGcounling policies sel out in note 1 to the financial statements and ¢omply wilh the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicab lo charities prepaiing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectives and a¢tlvltles Obje¢tive$ and alms To relieve the suffering of animals of any species. that are in need of care and attention and in particular, to provide and maintain an Animal Hospital for the care and treatment of animals that are sick, abandoned, neglected or ill trealed. Slgnlficant activities The trustees have regard to the guidance and regulatory requ1MentS of the Charity Commission, to ensure that the Charity always supports ils charitable objectives for the public benefit. The Animal Hospital - the Charity's Velerinary practice provides the ft)Ilowing for members of the public: Veterinary Consuttations and Treatment - Advice on the Care ofAnimals Preventative Treatments= flea control, neutering, worming - Dèntal Work Care of abandoned animals Re-homing of abandoned animals Dietary advice & food supplies Nurse Advice Clinics - Puppy & Kitten Stsrter pa¢ks Addltlonal work undertaken - Working with staff at the Penwith Pet Crematorium Liaising wilh and helping otherAnimal Charities. such as the RSPCA, Guide Dogs for the Blind, The Greyhound Trust, Dogs Trust, Cat Protection etc. The Charity does not undertake any investment, other than the maintenance of its assets i.e. The Animal Hospital. The Charity has many volunteers. working mainly in the relail sedor. Th8 volunteers support the paid employees in the running of the Pool Stores and the shops. Publlc benefit The Trustees consider they have complied with their duty in Seclion 17 of the Charities Act 2011 which requires them to have due regard to guidance published by the Charity Commission.
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Achlevements and perfomian¢e Charftable actlvitig$ The Animal Hospital's client base has stabilised over this year holding on to its many exira ¢lierrts galhered from the previous 6 years. The promotion offered to all clients provided they become members is still proving io be a success with over 200 members, all laking advantage of the financial in¢entives available to them. Memberships can now be completed online via our website making it far quicker and easier to update. Its reputslion for the quality care of animals and support for their owners, together with its improved facilities and equipment, ensures Ihat it has an increasingly positivè imagè in the lo¢al community. Clients come from as far afield as Penzance, Newquay, Sl. Austell, Helston, Falmouth and the Lizard area to use the excellent services provided. Support from the Retail Sector The retsil shops sales performance was excellent this year improving on last year's performance by almost 40k to £621,749 (2023- £597,714), its highest annual lurnover. It was a very encouraging effort given the general Irend in Retail sales. We are again most grateful to our many loyal supporters for their very kind donations. Supporting Agencies RCVS - Provides our members with regular updates and CPD opportunities. VDS provide Professional insurance cover lo the Vets Pracli¢e. Various Locum Agencies provide us with Locum VetslRVN staff as required. Peninsula Business Services- Provides Employment Law advice to CAHC Trustees. Towergate Mia provide our Surgery Insurance at the Vets site. SMEI provide insurance cover for all our Retail Charity Shops. Push Logic provide our web sile services. Some of th8 many success storles of the Charlty: The new Cat Unit at Treleigh is now fully operational. The Relail Charity Shop in Cambome's main street has won several prRes for its window displays including Trevithick Day, R8membran¢e Day and a Christmas theme. Many Guslomers stop and take pictures of the displays and it has created much interest in the town. We have an updated website which is far more customer friendly and focussed, allowing memberships and donations to be tendered directly online. The Trustees are now inputting a quarterly newsletter onto the website and the Autumn Edition is now availablè to view, We can show from a recent Sunday Times artide that our Vet prices are more than 70fy/0 cheaper than other, mainly corporate vet practices, proving how much our chariiy is helping keep costs down. We now offer specialist cardiology services at thè practice provided by an excellenl respeded individual. We have recruited an excellent Lead Vet Surgeon and helped many dients to extend the life of their pets as a result. Some remarkable stories are shown wiihin our w8bsite where we have helped young kittens retum to normal playtime behaviour. New re-designed plans for the Rehab Unit will double the size of the existing of the practice in sq ft terms. Oncé Phase 4, the final phase of the new build proje¢l. is Completed a range of additional facilities including a Treadmill, dog grooming and behaviour SeiceS together with a large Training Suité. our unique Charity Small Animal Practice will provide everything local pet owners could possibly wish for in one place with a 27-spa¢e Car park. Our Retail Charity shop in Camborne has won many first prizes for its window displays and was officially recognised by Camborne BID when awarded first prize at the annual Community Awards Event in 2023.
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review The Charity's annual income insofar as the Retail Shops was their best result total Shop income £621,749 against £597.714 for 2023 and congratulations go out to Heather Woods and her team for a great effort. We closed our Truro shop when the lease expired in November 2022. We are looking for a new shop in Hayle. The charity's veterinary practi IS Still finding the recruitment of Vet Surgeons very difficult and is having to spend much more than expected on Locum fees in this year's accounts. The staffing problems will hopefully be resolved by the Summer of 2025. The Vets income this year was £623,531 against £523.851 last year. Turnover has inGreased significantly by more than 19°A helped by our new Lead Vet Surgeon's appointment from 1 January 2024. We had also managed to recruit a fjjrther Nurses and an additional Receptionist during 2024 which meant that we could take on many more clients. Overall the charity made a loss of £86.481 (2023 loss: £24,526). Salary increases were the main cause of the higher loss figure. In terms of capital expenditure, this year we purchased two new anesthetic machines costing £8:500 which we paid for in full. We also spent £15.000 on consultancy fees in respect to planning applications. Reserves policy The Trustees have reviewed the Policy for the Charitls Reserves. All moni8$ held in reserve at the year end are identified for specific use to support the Charity's purposes. Phases 1 4 which cornmend in July'14 and is ongoing has completely Changed the appearance of the Hospital for the better. The final ¢hapt8r (Phase 4) in this redevelopment programme has received Council planning approval. The project. when compl8ted, will fulfil our aim that the Animal Hospital truly be¢omes a centre of veterinary ex¢ellen¢e. The Trustees aim to hold in free reserves, not invested in ffixed assets, Sufficient monies to cover months average expenditure. This would have required £224,152 as at 30 September 2024 (2023.. £196,108). As at 30 September 2024 the charity held £676,774 (2023: £763,255) in unrestricted reserves of which £402,628 (2023: £405,475) was invested in fixed assets, resulting in a balance of £274,146 (2023- £357.780) free reserves. The Trustees intend to use these reserves towards the costs of Phase 4, as well as to provide a buffer to the charity during the current economic environment. Principal funding Sources The Charity's principal source of funds is from the Animal Hospital and the Retail Shops. Legacies for the Charity are occasionally received and these are registered as 'promises' to the Charity, to be used to support the charitable purposes. Personal Donations are received online via Stripe. Just Giving, PayPal and other funding channèls. Monies are also received from the Chariws Collection fins, which are displayed in many shops in the local area. Easyfundraising.org.uk raises funds via our web sile where supporters can sign up and when purchasing from 1000's of different suppliers our charity reiVeS a small percentage of each transadion from Easytundraising.
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Plans for future periods Future plans The Trustees feel that the proposed building work at the Animal Hospital will create a modem interior with modem clinical surroundings, excellent facilities, and equipment. These developments will lead to the Animal Hospital gaining RCVS Small Animal accreditation and status soon. Phase 4 of the redevelopment program at the Hospital site will involve the provision of a large purpose-buili Rehab Unit on the sile ¢o$ting more than £500.000. Revised plans are being drawn up for this exciting new build project.The first part of this has involved the building of a new Cat Unil and large réar extension Costing £50,000. Now that our hospital is at such a high standard in terms of appearance and equipment we are once again looking positively towards working with Duthy College as a Training Practice. We cUentlY have one stsff member training to bé RVN qualified. Comwall Channel a lo¢ally based media company have provided us with a video which is shown onto our promotional screen in the Vets waiting area and onto our web site. A special personal message is also included on the video from our Patron Anne Robinson. We teamed with another local media company Big Box advertising who have installed a TV into the Vels site waiting area promoting local businesses and of course the Comwall Animal Hospital (CAHC}. The Trustees are focused on improving the retail shops by leasing more modern premises as ¢urrent leases expire. This is part of a decision, made by the Trustees, lo improv8 the overall image of the Charity, lis sites. and facilities. The new shops opened in the last 4 years at Camborne and Redruth increase the number of retail outlets to 6. The shops al Pool and Formal were the first retail sites to a¢¢ept card payments within CAHC. The extension of card payments saw Camborne, Redruth & Penzance shops added earfy in the previous financial year, these 4 shops also having land line phone connections. The new Camborne shop has phone and internet connections. The Charity's own maintenance personnel have done an excellent job in providing a new kitchenllaundry area plus workshop and PAT testing room in the existing main warehouse at the Pool site. The Trustees are always looking to increase our operating outlets and looking to find the best possible locations to service lotsl Communities within Comwall. We are looking ¢uffenlly for a new shop site in Hayle. Structure. govomance and management The charity is governed by its constitution which was adopted on 27th September 2013 when Comwall Animal Hospital Charity was first registered as a CIO. The Charity began operating under its new status as a CIO (Charitable Incorporated Organisation), with a registration number 1153992 from 1 April 2014. Trade mark protoctlon Effeclive from 31 March 2015 CAHC has legally protected its DoglCaVFlag logo in the UK via the Intellectual Propety Office. This legal status has recently been extended for another 10 years. Trustrees The trustees who served during the year and up to the date of signature of the financial statements were- WT Chalker W Krey J Cosgrove RJCock A Johnson G Barral (Appoinled 22 November 2023) (Appointed 25 April 2024) Organisational structuro The current Trustee Board consists of 6 trustees who arè all committed to the Charity and have various roles to develop and are all passionate animal lovers. Miss Angela Johnson joined in NoVeMr 2023, who sells items to raise funds for the Charity and although based in East Cornwall travels to our Trustee meetings in Camborne such is her willingness to support us. Graham Barral has later joined in April 2024. We can have up to 7 Trustees and would welcome an increase in our numbers from suitable candidates.
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Induction and tralnlng of new trustees New Trustees go through a process of induction, which includes discussions based on their reasons for wanting to become a trustee, their understanding of the chaTity and its aims, plus the provision of the necessary referenc8S and the completion of CC Form CSD-1382. The skills and experiences the new twstee can bring to the board are discussed and a Skills Checklist is completed. Once the new trustee has been COwOPted onto the trustee board, they are given a guided tour of all the Charity's premises introduced to the staff and volunteers. They also receive a copy of the latest audiled accounts and a copy of the Charity's ConstitLrtion. Wider network The Charity works wilh local and national animal charities to provide veterinary care and some re-homing of animals. Related partles The charitable work is undertaken at the Animal Hospital. This work is financialty supported by the retail sector. at the Pool Stores, including shops in Hayle, Penzan¢e. Cambome (Formal), Redruth & Cambome (Main Street>. statement of trusteos, responslbllltles The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Th8 law applicable to tharilie$ in England and Wales requires the trustees to prepare financial staternents 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 applic2tion of resources of Ihe charity for that year. In preparing these financial statements, the trustees are required to- select suitable accounting poli¢ies and then appty them consistently., - observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and pwdent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concem basis unless it is inapproprial& to presume that the charity will Gontinue in operation. The trustees are responsible for keeping sufficient a¢¢ounting 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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. Auditor In accordance with the charity's artides, a resolution proposing that A2ets Audit SeNices be reappointed as auditor of the charity will be put at a General Meeting.
CORNWALLANIMAL HOSPITAL CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The tru port was approved by the Board of Trustees. Trustee Date..
CORNWALL ANIMAL HOSPITAL CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CORNWALLANIMAL HOSPITAL CHARITY Opinion We have audited the financial statements of Comwall Animal Hospital Charity (the 'charitl) for the year ended 30 September 2024 which comprise the statement of financial activities. the balance sheet, the statement of cash flows and the notes 1 10 24 to the financial stslements, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, inoluding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting PractiGe). In our opinion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 30 September 2024 and of its incoming resources and application of resources, foi the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnlon We Conducled our audit in a¢¢ordance wrth International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs rgsponsibilitl8s for the audrt of the financial statgments section of OUT report. We arè independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in Ihe UK, including the FRC'S Elhical Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We b81i8ve that the audit evidence we have obtained is sulfi¢ient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the WO we have perfomied. we have not identified any material uncertainties relating to evènts or ¢onditions that, individually or collectively, may cast signifi¢ant doubl on the charity's ability to wntinue as a going concem for a period of at least tsyelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other informatlon The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual reporl. Our opinion on the financial statements does not cover the other information and we do not express any form of assuran conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the COLsrse of the audit, or otherwise appears lo be materially misstated. If we identify suGh material inconsistencies or apparent material misslalements, we are required lo determine whether this gives rise to a material misstatement in the financial statements themselves. 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 Ihis regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if. in our opinion.. the information given in the financial statements is inconsistent in any malerial rèspect with the trustees. report. or sufficienl accounting records have not be8n kept,. or the financial statemènts are not in agreement with the acxounting records., or we have not received all the infomiation and explanations we require for our audit.
CORNWALLANIMAL HOSPITAL CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CORNWALL ANIMAL HOSPITAL CHARITY Responsibilitie¥ of trustsos As explained more fully in the statement of trustees, responsibilities, 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 inlemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whèther due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going COnrn, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the truste8S either intend to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the financlal statements We have been appoinled as auditor under sedion 144 of the Charities Ad 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 8ssuran¢e but is not a guarantee that an audit conducted in acLordance with ISAS (UK} will always detect a material misstatement when it exists. Misslatemenls can arise from fraud or error and are considered material rf, 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. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https-.11 www.frG,org,uklauditorsresponsibilities, This description fonns part of our auditorfs report. Extent to which tho audit was considered capable of detecting irregularlties, Including fraud Irregularities, including fraud, are instances of non-compliance with law5 and regulations. We design ProdureS in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the enlity, its adivities, its ¢onlrol environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This in¢ludes consideration of the risk of acts by Ihe entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and thos8 charged with goveman¢e around actual and potential litigation and claims as well as actual, suspected and alleged fraud. Reviewing minutes Of meetings of those Charged with govemance., Assessing the extant of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entty through enquiry and inspection,. Reviewing financial statemenl disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of signrficant transactions outsid8 the normal course of business and reviewing a¢¢ounling estimates for indicators of potential bias. 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 GomplianGe 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 non4omplian¢e. The risk of not detecting a material misstatement resulting from fraud is higher than for one r8sulling from error, as fraud may involve collusion, forgery, intentional omissions, m1$repSen1atiOn$, or the override of internal control.
CORNWALLANIMAL HOSPITAL CHARITY INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEES OF CORNWALL ANIMAL HOSPITAL CHARITY Other matters Your attention is drawn to the fact that the charity ha5 prepared financial statements 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)" (as amended} in preference lo the A¢¢ounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bLrt has now been wilhdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with current Genèrally Accepted A¢¢ounting Practice. Use of our report This report is made solely to the charity's trustees. as a body. in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken $0 that we might slate to the charity's trustees those matters we are required to state to them in an audiiorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charty and the charity's trustees as a body, for our audit work, for Ihis report, or for the opinions we have formed. rtzek Lr Azots Audit Servi¢es Chartered Accountants ststutory Auditor Woodlands Court Truro Business Park Truro Comwall United Kingdom TR4 9NH Azels Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appoinlment as auditor of a Company under seclion 1212 of the Companies Act 2006.
CORNWALLANIMAL HOSPITAL CHARITY STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Current financial year Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Bank interest Other income 9,814 623,531 621,749 2,973 364 9,814 623,531 621,749 2,973 364 29,287 523,851 597.714 1,268 Total Incomè 1,258,431 1,258,431 1,152.120 nditure on: Raising funds 551,779 551,779 533,421 Charitable activities 792,613 792,613 642,705 Financing cost 520 520 520 Total expenditure 1,344,912 1,344.912 1.176,646 Net expenditure for the yearl Net movement in funds (86,481) 186.481) (24,526) Fund balances at 1 October 2023 763,255 13,117 776,372 800,898 Fund balances at 30 September 2024 676,774 13,117 689,891 776.372 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 10-
CORNWALL ANIMAL HOSPITAL CHARITY STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Prior financial year Unrestrlcted Restricted funds funds 2023 2023 Total 2023 Notss Income and endowment5 from: Donations and legacies Charitable activities Other trading activities Bank interest 14.288 523,851 597,714 1,268 14.999 29.287 523,851 597,714 1,268 Total inGome 1,137.121 14,999 1,152,120 Ex ndlture on: Raising funds 533,421 533.421 ChaTitable activities 642,606 99 642,705 Financing cost 520 520 Total expenditure 1,176,547 99 1,176,646 Gross transfers between funds Net expenditure for the yearl Net movoment in funds 1,783 (1,783) {37,643) 13,117 (24,526) Fund balances at 1 October 2022 800,898 800,898 Fund balances at 30 Septsmber 2023 763,255 13,117 776,372 11
CORNWALLANIMAL HOSPITAL CHARITY BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Notss Fixed assèts Tangible assets 12 402,628 405,475 CuThent assets Stocks Debtors Cash at bank and in hand 13 14 27,615 22,480 332,605 30,707 22,252 419,328 382,700 472,287 Creditors: amounts falling due within one year 15 (91,787) (94,090) Net current assets 290,913 378.197 Total assets less current Ilabllltles 693.541 783,672 Creditors: amounts falling due after more than one year 16 (3,650) (7,300) Net assets 689,891 776,372 Income funds Restricted funds UnrestriGted funds General unrestricted fijnds Revaluation reserve 13,117 13.117 528,354 148.420 614,835 148,420 676,774 763.255 689,891 776,372 The 1), 15tatements were approved by the Trustee5 On ......................... T Chalker Trustee 12-
CORNWALL ANIMAL HOSPITAL CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Notes Cash flows from operatlng activities Cash (absorbed by)Igenerated from operations 21 (68,888) 33,549 Investing activities Purchase of tangible fixed asset5 Proceeds from disposal of tangible fixed assets Interest received {17,658} (12.613) 500 2,973 1.268 Net cash used In Investlng a¢tivitie$ (14.185) (11,345) Flnanclng activities Payment of obligations under finance leases (3.650) (3,650) Net cash usèd In flnancing activities (3,650) (3,650) Net (decreaseifincrease in cash and cash equivalents (86,723) 18.554 Cash and cash equivalents at beginning of year 419,328 400,774 Cash and ¢a$h equlvalents at end of year 332.605 419,328 13-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Aceountlng poll¢les Charity Inforniatlon Cornwall Animal Hospital is a Charitable Incorporated Organisation registered with the Charity Commission in England & Wales. The principal address is Cam Tannery. Wlson Way. Redrulh, Cornwall, TR15 3RX. 1.1 Accounting convention The financial statements have been prepared in accordance with the charivs 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 {FRS 102) {effective 1 January 2019)" The charty is a Public Benefit Entity a5 defined by FRS 102. The financial statements have departed from the Charities (Accounts and R8POrts) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities apptying FRS 102 rather than the version of the Statement of Recommended PracliGe which is referred to in the Regulations but whi¢h has Sin been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearesl pound. The financial slalemenls have been prepared under the historical cost convention, modified to in¢lude the revaluation of freehold properties. The principal accounting policies adopted are sel out below. 1.2 Going ¢on¢em The trustees have assessed the use of the going concern basis and have considered possible events or conditions that might cast a significant doubl on the ability of the charity to continue as a going concem. The trustees have considered a period of at least twelve months from the date of approval of these financial statements. In particular, the trustees have considered the charity's available cash balances in conjunction wilh expected working capital requirements and have conduded that there is a reasonable expectation that the charity has adequate resources to conlinue in operational existence for the foreseeable future. The trustees are of the view that the are no material uncertainties that may create significant doubt over the charity's ability to continue as a going concem. The charity therefore continues to adopt the going conom basis in preparing its financial stslements. 1.3 Charitable funds Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of Iheir charitable objectives. 1.4 Income Income is recogni5ed when the charity is legally entitled to it after any performance conditions have been met. the atnounls can be measured reliably, and it is probable that income will be reived. Income from charitable aGlivities is recognised as the services are provided. Donations and gifts are recognised in full in the Statement of Financial Activities when receivable. Legacies are recognised on receipt or otheise if the charity has been notified of an impending distribLrtion, the amount is known. and receipt is expected. Income from government grants is recognised when the charity has entitlement to thè funds. any perforniance nditions attached lo the grant have been met, il 15 probable that the income will be received and th8 amount can be measured reliably and is not deferred. 14-
CORNWALL ANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounllng pollcles (Contlnued} Income from other trading activities is recognised at the point of sale of g¢)ods. Goods donated for sale are included as income al the point of sale. 1.5 Expenditure Liabilities are recognised as expenditure a5 soon as there is a legal or constructive obligalion 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 ha5 been classified under heading5 that aggregate all cost related to the calegory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the Use of resource5. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost. Suth costs includes costs directly attributable to making the asset capable of operating as intended. Subsequent to initial recognition, tangible assels. excluding freehold properties, are stated al ¢ost less accumulated depreciation and a¢¢umulated impairment. Freehold properties are carried at a revalued amount less subsequent accumulated depreciation and accumulated impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less th@ir residual values over their useful lives on the following bases.. Freehold land and buildings Leasehold improvèments Hospital equipment Fixtures and fittings Computers Motor vehicles straight line 25Q/o reducing balance 250h reducing balance 25°/o reducing balance 25 /0 reducing balance 250A reducing balance The gain or loss arising on the disposal of an asset is determined as the difference behveen the sale proceeds and the carrying value of the asset, and is recognised in the statèment of financial activities. 1.7 Impairnient of fixed assets Al each reporting end date, the charty reviews the carrying amounls of its langible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any}. 1.8 Stocks Slocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stod(s does not include goods donated for sale as it is impractical to measure the fair value of these donated items reliably. 1.9 Finanelal Instruments The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments. and S8Ction 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes parly to the fyntraciual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intenlion to sottle on net basis or to realise the asset and settle the liability simultaneously. 15-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (Continued) Basic flnanclal assets Basic financial assets, which include debtors and cash and bank balan¢e$, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaGtion, where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year ar8 not amortised. Ba$1¢ financlal liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable WFthin one year are nol amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabiliti8s if payment is due within one year or less. If nol, they are presented as non-¢urrent liabilities. Trade QdItorS are cOgnised initially al transaction pricè and subsequently meaSUd at amortised Cost using the effedive interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or ¢an¢elled. 1.10 Employee benefits The cost of any unused holiday entitlement is re¢ognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to temiinate the employment of an employee or to provide termination benefits. 1.11 Retlremont benefits The charity operates a defined contiibution pension plan for its employees. Contributions are recognised as an expense when they fall due. Amounts due but not yet paid are includèd within ¢reditors on the balance sheet. The assets of the plan are held separately from the company in indep8ndenlly administered funds. Once contributions to the pension fun have been paid, there is no further obligation to the company. 1.12 Leases Leases are classified as finance leases whenever the terms of the lease transfér substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finan lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net incomel(expendilure) for the year so as to produce a constant periodic rate of interest on the remaining balan ol the liability. Rentsls payable under operating leases, including any lease incentives received, are Charged as an expense on a straight line basis over the term of the relevant lease. 16-
CORNWALL ANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Donations and legacles Unrestricted fund$ Unrestricted Restricted funds funds Total 2024 2023 2023 2023 Donations and gifts 9,814 14,288 14,999 29.287 Charitable activities Vetèrinary Veterinary practice prdctice 2024 2023 Sales within charitable aclivities 623.531 523.851 Other trading a¢tivitie$ Unrestricted Unrestrictod funds fund$ 2024 2023 Revenue from retail shops Trading activity income- other 621,749 594,085 3,629 Other trading activities 621,749 597,714 Bank interest Unrestrictsd Unrestrfcted funds funds 2024 2023 Interest receivable 2,973 1,268 17
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Other Income Unrestricted funds Totsl 2024 2023 Net gain on disposal of tangible fixed assets 364 Charitable activities Veterinary Veterinary pra¢ti¢e practice 2024 2023 Staff costs Depreciation and impaimient Medical supplies Locum costs Pet ¢remations Hire of plant and mathinery Rates and water Insurance Light and heat Telephone Postagé and stslionery Training Repairs and renewals Motor expenses Advertising Computer expenses Subscriptions Other charitable expenditure 369,534 19,582 194,611 77,185 14,281 7,075 1,489 4,426 7,496 (1.158) 3,286 3,806 20.218 32 5.062 3,504 308 16,102 211,010 16,573 162,669 138,010 12,005 6.188 1,232 3,865 6.747 9,112 3,022 3,547 14,621 3,586 3,797 278 11,316 746,839 607.644 Share of govemance costs (see note 9) 45,774 35,061 792,613 642.705 Analysis by fund Unrestricted funds Restricted funds 792,613 842,606 99 -18-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Raising funds Unrestrlctod Unrestricted funds funds 2024 2023 Shop trading Rent Repairs and refvrbishments Insurance Light and heat Rates and water Othér trading costs staff costs Depreciation and impairment 88.312 7,262 5,392 12,950 2,305 29,631 405,139 788 80,928 9,352 5,289 14,884 1,816 17,864 402,245 1,043 Shop trading 551,779 533,421 551,779 533,421 Support costs Govemance costs 2024 2023 Audil fees Accountancy Legal and professional 14.000 5,646 26,128 14,000 5,646 26,128 10,200 19,517 45,774 45,774 35,061 Analysed between Chaiitable activities 45.774 45,774 35,061 10 Trustees T Chalker, a Twstee, received remuneration during the year of £26,594 {2023- £24,722) Expenses were paid to T Chalker, a Trustee, of £332 (2023.. £530). Other than the above and note 24, none of the trustees lor any persons connected with them) received any remuneration or benefrts from the charity during the year (2023.. none). 19-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employees 33 31 Employmenl costs 2024 2023 Wages and salaries Social security costs other pension costs 712,706 50,954 11,013 569,973 34,947 8,335 774,673 613,255 There were no employees whose annual remuneration was £60,000 or more (2023: none}. -20-
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CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 12 Tangible fixed a5sots (Contlnued) The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreGiation charge in respect of such assets amounted to £2,681 {2023 - £3.5741 for the year. 2024 2023 Motor vehicles 8,041 10,722 The freehold Pfcperty was valued by Millers Commercial Valuers Ltd (independent chartered surveyors) in March 2022 on an open market basis in accordance with the Appraisal and Valuation Manual of The Royal Insts'tution of Chartered Surveyors. The histortcal cost of freehold property included in the valuation is £252,604. 13 Stocks 2024 2023 Veterinary medications and Consumables 27,615 30,707 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 4,199 18,281 13,220 9,032 22,480 22,252 16 Creditors: amounts falling due within one year 2024 2023 Notes Obligations under finan¢e leases Other taxation and social security Trade creditors Other creditors Accruals and defeed income 17 3,650 27,422 33,166 2,798 24.751 3,650 19,196 46,601 2,181 22,462 91,787 94,090 -22-
CORNWALL ANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 16 Creditors: amounts falling due after more than one year 2024 2023 Notss Obligations under finance leases 17 3,650 7,300 17 Flnance lease commitinents Future minimum lease payments due under finan¢e leases: 2024 2023 Within one year Within t0 and five years 3,650 3,650 3,650 7,300 7.300 10,950 18 Retirement benefit schemes Defined contribution $¢hemes The charity operates a defined contribution pension scheme for all qualifying employees. The assèts of the scheme are held separately from those of the charity in an independently administered fund. The tharge to profit or loss in respect of defined Contribution schemes was £11,013 {2023 - £8.335). 19 Restrlcted funds The incorne funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes- Movement in funds Movement in funds Incomlng Balance at rosources 30 Septernbor 2024 Incomlng Rosources 8alance at •xpond•d1 Octob8r 2023 Casde Goff donation 14,999 (1.882) 13,117 13,117 Castle Goff donation - During the prior yèar, the charity received a donation from Castle Goff Cat Rescue of £14,999 for the purchase of 2 Ophthalmoscope and Otoscope Deskiop ijnits, with the remaining balance to go towards the hydrotherapy pool and treadmill capital project. -23-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 20 Analysis of net assets between funds Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Fund balances at 30 September 2024 are represented by.. Tangible assels Net current assets Long term liabilities 402.628 277,796 (3.650) 402,628 290.913 (3,650) 405,475 365,080 17,300> 405,475 378.197 {7,300) 13,117 13.117 676,774 13.117 689.891 763,255 13,117 776,372 21 Cash generatod from operations 2024 2023 Deficit for the year (86,481) (24,526) Adjustments for.. Investment income recognised in slalement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets {2,973) (364) 20.369 (1,268) 17,616 Movements in working capital.. Decreasel(increasel in stocks (Increase)Idecrease in debtors (Decrease>lincrease in creditors 3,092 {228) {2.303) (369) 7,289 34.807 Cash (absorbed byllgenerated from operations 168,888) 33,549 22 Analysis of ¢hanges in net funds At 1 Octobgr 2023 Cash flow¥ At 30 S•ptsmbgr 2024 Cash at bank and in hand 419,328 (86,723) 332,605 Obligations under finance leases (10,950) 3,650 (7,300) 408.378 {83,073} 325,305 -24-
CORNWALLANIMAL HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 23 Oparatlng lease commitments At the reporting end date the charity had outstsnding ¢ommitments for fvture minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 wrthin one year Behveen two and five years In over five years 63,410 137.241 3.758 31,792 70,224 6,764 204,409 108,780 24 Rolatsd party transactlons Transa¢tions wlth relatsd parties The spouse of one of the twsteas is employed by the charity and was paid a total of £35,198 {2023: £34,049) during the year. The individual's details have bean omitted for the protection of the persons concerned in accordance with paragraph 1.29 of the SORP. -25-