Registered Charity Number: 1159886 ISLE OF WIGHT DONKEY SANCTUARY CIO REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ISLE OF WIGHT DONKEY SANCTUARY CIO Reglstored Charlty Number: 1159886 Contents Page Legal and Administrative InfornalM)n Report of Ihe Trustees Independent Auditorfs Re Consolldaled Statement of Financid Actmknes 2-17 18-21 22 ConsolKlated Statement of Financial Positson 23 Consolidated Statement of Cash Flows 24 Notes to the Financial Statements 2540 ISLE OF WIGHT DONKEY SANCTUARY CIO Registered Charity Numbèr: 1159886 Legal and Admlnlstratlve Informatlon Trustees Andrew Gordon Patti50n (Appointed 19 Sep 20231 Colin Ward (Resigned) Dawn Finney Elaine Maria Burtenshaw Janine DyeT Jill PTOCter {Appointed 19 Jul 21r24} Reglst¢red office Lowerwinslone Farm Sl. Johns Road Wroxall Venlnor Isle of Wight England P038 3AA Registergd charity number 1159886 Registered company number CE002608 Accountant Stephen Humphreys FCCA SHMS Accountants Ltd SHMS Housg 20 Little Path Fa￿n Road Fareh8m P015 STD Independgnt Auditor Stuart Mackie FCA {Senior Slatutory Auditor) Morris Crocker Limited station House North Street Havant Hampshire P09 1QU REPORT OF THE TRUSTEES ObjectiTr-es and activities ID February 2023, the sanctuary appointed Susan Mccall as the new Chief Executive. succeeding the outgoing Charity Manager who dedicated eleven successful years to ihe role. Susan brings extensive experience from her leadership roles In several charlties. most notably the Rlde High Equine Charity in Milton Keynes, where she specialized in fostering interactions between equlne5 and individua15 Wlth addttional needs. We have set out a clear vlslon for the sanctuary. aligned with our mi55i0n. and developed a three-year strategy to deliver It. our Ml951on 15 to provlde refuge. exceptional care. alld new beginnings for donkeys and other equines in need. Our Vislon is to become the centre of excellence in donkey welfare, dedicated to not only providlng the best POsSlble care but also fostering a deeper connection and understanding between people and our equine companions. Doiikey welfare improTr-ements Our donkeys are at the forefront of everything we do. We provide a safe and nurturing environment. ensure regular health checks. and prioritise their emotional and social needs by offering ample space, enrichment. and opportunities to socialise with other equines. Each donkey has a customlsed care plan tailored to their specific welfare needs, including diet plans. monthly weigh-ins. body-scoring and conditionlng, medical care. bedding. grooming, exercise. and training. We have l 19 Donkeys. 15 Ponies and 2 Mules. We take pride in the indlvidual little touches we provlde for each herd. such as warming up food for elderly donkeys. using herbal tea in their water to encourage better hydration. providing speclalised bedding o.ptions for our Extra Care herd. and providing freshly steamed hay for Ihose with respiratory Issues. These are just a few example5 of our commltment to give the very best care to our donkeys. We have developed Poppy's Place into a dedicaied care centie for our Special Care donkeys, who have complex health needs. ensuring a safe environment where they have the freedom to roam and enjoy enhanced 5tabllng. The Barn provides ample indoor space for shelter during wet weather and shade during hot days_ Additionally. Ihere are paddock areas in front of and behind the barn. allowing for grazing and sunbathing. Enhanced facilities for medical treatment In late 2022, we embarked on a fundraisino journey to establish ark equine clinic. and thanks to generous donatiOT15. we raised £125.000. However. in the Spring of 2023, due to economic factors such as high inflation. the cost-of-living crisis. and ever- increasing operating c05t5, we decided to pause and conduct further feasibility studies. We wanted to ensure that Dur plans M*re making the best use of funds. Consequently. we decided to repurpose an existing structure to rehouse the Equine Treatment Centre. significantly reducing construction costs. We now plan to construct an equine rehabilitation barn on the original planning site. including an isolaiion barn at the perlmeter. Thi5 will enabte us to provide the highest level of care for equines requiring isolation for medical treatment or ob5eriation. Strengthening our equine welfare knowledge We ale ded icated to contlnued learning and improvement through an ongoing trainlng program for our Equtne Welfare team, equipping them with the necessary experience, tools and 5UPPOrt_ We have collaborated with local veterinary expert5 and the Donkey Sanctuary at Sidmouth. who have shared their extensive knowledge and enhanced learning programs for both staff and volunteers. All our Equine Welfare Team are now enrolled in the Donkey Academy. All thls Iraining has led to significant improvements in donkey care. This enhanced understanding of social dynamics and donkey behaviour has resulted in harmoniou5 herds, reducing stre55 and promoting better health. ,Improving the sanctuary environment During 2023. our core objectives were to enhance the environment for our donkeys. staff. and vi5ttors by implementing measurable improvernent5 in estate management and operational efficiencies. We initiated projects to optimise layout. enrich paddocks. improve grazing and pasture conditions. and implement a mud-management program. These effort5 have already resulted in cleaner. more hygienic shelters and pa(Jdock5 and will help to prevent serious hoof problems caused by excessive mud. Additionally, we have created two new paddocks. providing an extra five acres of grazing land. This expansion will help us support the nutritional needs of our growing donkey population and ensure sustainable paddock grazing, allowing us to rotate grazing areas and maintain optimal pasture conditions Educatioii aiid comniunity tlie£apy We contlnue to foster a deeper understanding of donkeys and their needs by offering enhanced educational programs and resources for visitors. schools. and the wider community. Our guided tours, activities. and educational materials highlight the importance of equine welfare and engage our visitors. These programs offer opportunities for direct interaction. adoption initiatives. and storytelling that bring to life the journey of our equines and the impact of our work. Our commitment to community engagement also extends to providing support for community groups and those in need of special care. In 2023, we hosted visits from veteran group5, dementia support groups and other local community organi5ations. Each visit is carefully tailored to meet the specific needs of the participant5. offering an experience that adds signifiiant value. Additlonally, we bring our donkeys to care home5, hospices. and other facilities whose residents cannot Vislt the sanctuary, allowing them to experience the therapeutic benefits from interacting with our donkeys. These outreach efforts foster emotional connections and enhance the well- being of individuals. demonstrating the p05ttive impact of our work beyond the sanciuary grounds. We are Immensely grateful to have received a National Lottery grant. which allows us to employ a community engagement officer. This SUPPOrt enables us lo further our ongoing community work and extend the benefits of our sanctuary to even more people. Oiii statt iqiid volunteeLS We employ over 40 staff members and have over 80 dedicated volunteers. Together they ensure that all our equines receive exceptional care every day of the year. Their hard work also alSows us to welcome over 120,000 vi51tors annually to the sanctuary and provide ongoing support to our donors and supporters. OUL goverliaiice We have made significant strides in Improving our operations. focusing on stronger governance In finance. HR, and day-to-day procedures. Comprehensive processes for health and safety, as well as safeguarding. are now firmty in place. Additionally, we have invested in enhanced cybersecurity measures and provided specialised IT securtty training for all staff. Our donkey fostering scheme Some donkeys who find refuge with u5 are better suited to a quieter. more private environment. Our foster scheme help5 these donkeys find permanent foster homes away from the sanctuary. This might involve fostering out a pair of bonded donkey5 or Joining an existing donkey at the foster home a5 their companion. Each donkey is carefully Matched to an environment that best suits thelr needs. allowing us to provide a more flexible and personalised approach to equine welfare. All routine costs are covered by their foster guardians, while we ensure excellent welfare standards are maintained through regular vi51ts and update report5. To date. we have successfully rehomed our first three donkeys. each of whom is thriving in their smaller group environment. Veterinary care We contlnue to work very closely with our local veterinary practice, holding regular care meetings and using 'live' medication boards to ensure rigorous treatment protocols are upheld. These boards are updated daily based on the latest veterinary advice. ensuring each donkey receives the most appropriate care promptly. In 2023, we forged strong relationships and c105e collaboration with The Donkey Sanctuary in Sidmouth, renowned for theif world-class veterinary care. Their vets schedule regular visits to our site. sharing their extensive knowledge with our equine welfare team and local vets to promote the health and welfare of our equines. We greatly appreciate their continued support. Additionally, we malntain a close partnershlp wilh Liphook Equine Hospital. which provides speciali5ed sUPPOrt and treatment for our equines requlrlng more complex operations and procedures that cannot be performed on the i51and. A prime example of this collaborati(b is Theo's case. Theo. suffering from severe colic. was urgentty iransferred to Liphook for surgery, accompanied by his best friend. Noah. Multlple operations and emergency blood transfusions, facilitated by our team and supported by donor donkeys, saved Theo's life. This story highlights the critical role of our veterinary partners in ensuring the well-being of ou r donkeys. 10 Finance aiid investment polxcy Accounts for yeaTrend D•c•mb•r 2023 We are grateful for the continued support and commitment from our donors. 5UPPOrters and adopter5. Our consolidated Income for the year was £2.247,192. broken down a5 follows: Legacies £506.652 Donationsladoptions £929.701 Trading Activities from our shop and cafe £770.842 Interest £39.998 Our total expenses amounted to £1.995.9g3. detaiEed as follow5- Charitable activities £1 ,197.973 Raising fund5 £108.445 Other trading £689.575 This results In a surplus of £251 ,199 Reserves pollcy Our reseNes policy aims to meet the day-to-day operations of the sanctuary. The trustees acknowledge that a significant portion of our income comes from legacies. Historically. we have aimed to cover daily expense5 Wlthout relying on legacies. However, due to rising iosts and increased investment in staff. we will continue to recognise readily available funds to Tneet our daily commitment5. This policy is reviewed regularly. Total assets. Induding fixed assets and deslgnated funds. stand at £4.244.971. 11 Income and Expenditure Analysls In 2023. we experienced a s light reduction in income primarily due to decreased legacies. which reduced from £579.553 to £506.652. However. IM05t of this shortfall was offset by increased fund5 from other sources. Additional income was generated from cash reserrfes, capitalising on higher interest rates from short- term and instant access accounts. We mitigated risks by spreading deposits across multiple UK-authorised banks to ensure protection under the £85k FSCS cover. managing depo.slt5 to maximise returiis In line with our cash flow projection5 and reserves policy. Expendlture increased sharply due to the cost-of-living crisis and inflation. To accomrnodate the rise in vtsitor numbers. we invested in staff to enhance Safety and support oiir growth. Isle of Wlght Donkey Sanctuary Llmlted Our trading company. which includes a gift shop. online shop and cafe. reported: Trading income £770.842 Total Expense £689.574 Net income £81.268 Despite increased turnover in 2023. the cost of sales and staffing also r05e. The café has since improved it5 Offerings. Significantly increasing maigins. and the shop has seen higher turnover and margin5. 12 Overall Summary Consolidated reserves at the year-end= £4,244,971 Expenditure was higher in 2023 due to cautious and controlled measures during the pandemic. Visitor number5 increased significantly over the past 12 months, leading to investments in staff. procedures. and site improvements to strengthen the charity for futUTe challenges. The positive net worth in our balance sheet confirms that the chailty remain5 a going concern. 13 FutULe plans In 2023. we experienced changes in management and trustees. followino a consolidation of our p05itiOD after the COVID pandemic. With the significant increase in operatlonal expenditure and investment in additional staff and procedures, 2024 will mark the implementation of our strategic three-year plan. The Trustees and Chief Executive Officer have dedicated time to developing our nexi strategic plan, which will guide the charity from 2024 to 2027. Our key focu5 areas include- Donkey Care and Welfare contlnue to invest in the care and welfare of OUT equines while improving site infrastructure. As pait of our efforts to improve equine welfare. we will continue to look at further opportunities for extending our fostertng scheme. Visitor Experlence - elevate the visitor experience by enhancing interactive and educational elements, improving facilities, and providing except£onal customer service to create memorable and engaging v1sitS. Fundraising - strengthen fundraising effort5, particularly OUT adoption scheme. by enhancing communication and engagement with ou¥ supporters. ensuring they feel valued and connected to our mission. Community Engagement - support and expand community engagement programs. Staff Development - Implement individual developrnent programs to enhance equlne knowledge among our staff. Volunteer Integ ration increase our focus on volunteer integration, communication, and ensure a safe and inclusive environment for all. IT and Communications - further integrate our systems. providing enhanced communications. and providing ongoing cyber-crime training. Governance - conduct a benefits and governance review to underpin the running of the charity. 14 Risks The Trustees oversee risk management for Ihe charity. With quarterly reviews conducted during strategy review meetings. We have enhanced and improved audit and assurance activities, including operational and financial controls, and established robust internal controls for cash management. Monthly Trustee Meetings continue to refine management account5, financial data, and monthly budget eview5. Internal Audit5 and Controls comprehensive internal audits and controls have been established. with full reviews pending completion. Cybersecurity - we have implemented both awareness and oiber-crime training. along wilh ongoing testing. to m Itigate risk5. particularly concerning financial transactions. Staffing continuity of management and succession- planning remain challenging. We have development plans and ongoing monthly training for staff. particularly on the yard. but recruitment continue5 to be an issue. Business Continuity and Resilience a new three-year strategy has been developed and implemented. with quarterly reviews to measure progress against set goals. Health and Safety - annual reviews and policies are in place, with ongoing improvements to ensure a safe environment. Safeguarding policies for safeguaiding staff and volunteer5 have been established but need to be fully implemented acr05S the organisation. Reputation Management - we have made improvements in communication and actively monitor reviews to mitigate the impact of any negative media. 15 BoaLd ot TLilStees Trustees are appointed for a 3-year term and can seek re- election to a maximum of 9 years. Trustees meet monthly with the CEO to discuss ongoing matters and ensure Smooth operation. Additional, strategic review meetings are held quarterly to evaluate the governance practices and ensure adherence to best practices. Statement ot tlustee iespoiisibi]ities The trustees are responsible for preparing the Report of the Trustees and the flnancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice>. The law applicable to charitDe5 in England and Wales, including the Charities Act 2011. Charity (Accounts and Reports) Regulatlons 2008, and the prowsions of the trust deed. requires the trustee5 to prepare financial statements for each financial year that give a true and fair view of the State of affair5 of the charity and of the Incoming resources and application of resources. including the income and expenditure. of the charity for that period. 16 In preparing these financlal statements. the trustee5 ar required to= Select SUTtable accounting policie5 and apply them consistently. Obsetve the methods and principles in the Charity SORP. ake judgments and estimate5 that are reasonable and prudent. State whether applicable accountirg standards have been followed, subject to any material dopaitures disclosed and explained in the financial statements. Prepare the financial statements on a going concern basis unless it 15 inappropriate to presume that the charity will continue in busEnes5. The Trustee5 would like to extend their heartfelt thanks to our COTnmitted staff and volunteers, as well as the generosity of our supporter5. Together. they enable us to keep our donkeys happy and healthy. allowing us to continue oui mission and make a significant impact on both our equines and the community. This report end approved by the trustees on the 7 5th of October 2024 and signed on it5 behalf by- Dawn Finney. Trustee 151e of Wight Donkey Sanctuary Janine Dyer. Trustee 17 ISLE OF WIGHT DONKEY SANCTUARY CIO Registered Charlty Number: 1159886 Independent Auditor's Report Oplnion We have audited the financial statements of Isle of Wight Donkey Sanctsjary and its sub5idiarles for the year ended 31 December 2023 on pège5 22 to 40, which Comprise the Consolidated Statement of Financial Activrties, the Group and Charity eaance Sheets and Cashflow Statements and nole8 to the financial statements. including a summary of signifKanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial RepDrting Standard FRS 102 'The Financial Reporting Standard Applicable in the UK and Republi¢ of Ireland. (United langdom GeneTalty Accepled A¢¢ounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and the parent charWs affairs as at 31 December 2023 and of the group's incoming Tesources and application of resources. including its income and expenditure. for the year then ended.. have been property prèpared in accordance with Unlled lQngdom GenerallyAccepted Accounting Practice,. and have been prepared in accordance wth the requirements of the CharitiesAct 2011. Basls for oplnlon We conduclgd our audr( in accordan￿ with Interna￿nal Standards on Auditing {UK) IISAS (UlQl and applicable law. Our responsibilities under th05e $tsndards ar8 further described in the Auditors ￿spOnSibl11tieS for th6 audit of the financial 51atemenls section of our reporL We are independent of the group and parent chartty In accordance with the ethical requirements that are r816vant lo our audit of the financial statements in the UK. including thè FRC'S Ethical Standard. and we have fulfilled our other ethical responsibiliknes in accordance wth these requirements. We believe that the audit evidence we have obtained 1$ $ufficient and appropriate to provida a basis for our opinion. Conclu$ions rolattng to golng ¢oncorn We have nothing to Teport in respect ofthe followlng matters In relation to whi(* the ISAS lu require us to r8p)rt lo you Whe￿.. the trustees. use of the going concem basis of accounting in the preparation ot the finan¢kal statements is not appropriate.. or the trustaes have not disclosed in the financial statements any identified material uncertainties that may cast signfficant doubl a*)ut the group or parent charlty5 abilrty lo continue to adopt Ihe golng concern basis of accounting for a period of at lea8t months from the dale when the financial ststemenls are authorised for issue. 18 Other Inforniallon The trustees are respDn$ible for the other information. The other informatlon comprises the InfOmiat￿n Included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial slalements does nol cover the other infoTmation and we do not exp￿$8 any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is lo read the other infomalion and, in doing so, con5tderwhether the other information is materially in￿nsIstent th the financial stal8m8nts or our knowledge obtained in the audit or otherwise appears to be materially misstated. Sf we identify such material inconsistencies or apparent material misslatements, we are required to ¢Jetemiine vthether there is a material mlsstatement in the financial stal8ments c¥r a material misstatement of the other information. If, basemation The IOW Donkey Sanctuary CIO is a Charitab￿ incorporated or9ani8ation incorporated in England and Wales. The registered office address and prinGipal place of business is.. Lower Winstone Fami, Wroxall, Ventor, P038 3AA Basls of Properatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitses preparing their accounts in ac¢ordan¢e wlh the Financi81 Reporting Standard applicable in the UK and Republic of IrelaThJ IFRS 102)(effective 1 January 2019) - (Charities SORP FRS 1021. th8 Financial Reportin9 Standard applKable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011. Assets and Thabilitie$ are inltially recognised at historical cost or Iran8aBtion value unless othe￿1$¢ stated in the rdevanl a¢¢ounling policy or note. These financial statements consolidate the rèsulis of the charty and its wholty-owned Subsidiary The Isle of Wight Donkey Sanctuary Lirnited on a line by line basis. Transactions and balanGes between the charity and its subsidiary have been eliminated from the consolidated ffnancial statemènts. Balances be￿een the entities are disclosed in the rbJte5 of the charities, balance sheet Publ1¢ B8nefft Entfty The chanty meets th8 definition of a public benefit enb'ty under FRS 102. Golng Concem The trustees consider that there are no material uncertainlies about Ihe charity's ability to continue as a goin9 concem. The trustees are of the vlew that the immediate future of the Charity for the next 12 months is secure on the basis of confimation of continuing income streams and fundraising activity to generate addthnal income strgams. Accvrdingly. the financial statements have been prepar&J on the going con¢em basis. The trustees do not ¢onsider that there are any sources of estimation LtnGertainty al the reporbng dale that have a significant risk of causing a material adlustmenl to the carrying amounts of assets and liabilities within the next reportlng period. 25 ISLE OF WIGHT DONKEY SANCTUARY CIO Reylstered Charlty Numbgr: 1159886 Notss to the Flnanclal Statements Income Income Is recognised when the charity has entidement to the funds, any performance conditions aitsched to the income have been met, it is probab￿ thal the income will be ￿CeIved and that the amount can be measured reliabty. Income frorn govemmenl and other grants, whether 'capilal' grants or 'rovonuo' grants. is recognised when the charty has enttuement to the funds. any performance conditions attached to the grants have been met, il is probably that trie income will be received and the amount Ban be measurèd reliably andlg not deferred. For legacies, entitlement is taken at the earlier of the dale on which either. the charity is aware that probate has been granted, the eslale ha$ been finalised and notificalion has been made by the execulor{sl to the charity that a distribuknon will be made, or when a distribution is receNed from the estate. Recelpt of a legacy. in whole or in part, is only considered probable when the amount can be measured reliably and the charity h85 been notffied of the executor's Inten￿On to make a distribution. Where legacies have been notified lo the charity, or the charity is aware of the granting of probate, and the crEteria for incame recognrf(ion have not been mel. then the legacy is treated as a contingent asset and disdosed if matèrial. Income r9ceNed in advance of the provision of a specified service 18 deferred until the crtterla for income recyJgnition are meL Interest Receivable Interest on fvnds held on deposit Is included when Teceivable and the amount can be measured reliably by thg charity.. this is nomalty upon nolificalion of th8 Interest paid or payable by the bank. FundAccountlng Restricted funds are to be used for sPe￿fiC purposes as laid down by the donor. Expendlture which meets these ¢rileria is charged lo trte fund. Unreslricled funds are donations and other incoming resources reoeNed or gènerated for the ¢harilabl8 PUTpose5. Expandlturn and Irrecov•rable VA T Expenditure is recognised once there is a legal or ¢￿struCtive obligation to makè a payment to third paty. it is probable that setuement wll be required and the amount of the obligation can be measured reliably. Expgnditure is dassffied under the following activity headings: Go5ts of Trising funds relate to the costs incurred by the charity in inducing third parties lo make voluntsry contributions to it, as well as the cost of any activities wifh a fundraislng purrk)se. Expenditure on ¢haritable activities includes the costs if delivering services and other educational activitie5 undertaken to further Ihe purpDs8s of the charity and their associated SUPPDrt costs. Other expendlture represents those item5 not fallin9 into any other heading. Irrecoverable VAT is charged agalnsl the acliwty for which the expenditure was incurred. Albcatlon of Support Costs Resources expended are allocated to the particular actnity where the cost relates direcdy to that activity. However. the cost of overall direction and administration of aach activity, comprising the salary and overhead c051s of th8 central function, 1$ apport¥oned on the following basis which are an estimate, based on staff lime. of the amount attributable to each activity. Governance costs are the costs associated with the govemance arrangements of thè charity. These costs are associated with constibJtional and statutory requirements and include any costs associated with tha strategic management of the charitys activities. 26 ISLE OF WIGHT DONKEY SANCTUARY CIO Registered Charlty Number: 1159886 N¢tes to th• Flnanclal Statements Operatlng Leases Renlal tharges are charged on a straight line basis over the lemi of the lease. rangiblt Flxed Assets Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuation, net of depreciatlon and any impaiment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over thelr useful Ilves on the following bases.. Freehold land and buildings.. 2% Straight Line Plant and 8quipment etc-. 10-250/0 Reducing Balanee Motor vehicles-. 250h Reducing Balance The gain or loss arising on the disposal of an ass8t is determined as the difference bet￿een the sate proceeds and the Car￿ng value of the asse( and is recognisgd in net incomellexpenditurel for the year. Investments In Subsidiarlos Investments in subsidiaries are at cosL Debtors Trade and other debtors are recogni5ed al the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents in¢lude cash In hand. deposits held at ¢all with banks, r)ther short-temi highty liquid investments with original maurtfjes of h¥elve monlhs OT less. Creditors and Pmvl$lons Creditors and provisions are recognised wher8 the charity has a present obligation resulting from past event that will probably resutt in the transfer of funds lo a third paty and the amount due to setde the obligation can be measured or estimatsd reliab￿. Creditors and provisions are normal re¢ognis8d at their setuement arnount after allowing for any trade diseounls due. Flnanclal Instruments The oharity only has financi81 assets and financial liabilities of a kind thal qualify as basic financial instrum&nts. Basic financial instruments are Initial￿ recx)gnised at transaction value and subsequentty measured al their settlement valu8 Wtth the exceptltsn of bank loans whlch are subsequently measured al amorbsed cost using the effective interest method. 27 ISLE OF WIGHT DONKEY SANCTUARY CIO Registered ChaTity Number: 1159886 Notes to thg Flnan¢lal Statements Income Irom donatlons andlogacles 2023 2022 Adopt a donkey scheme Donations Gfft aid Legacies 311.594 528,439 89,688 506,651 1,436,352 238.842 559,216 92,53S 579,552 1.470.145 All thicome from donations and leg￿les. wag attributable to unrestricted fiJnd5 in 2023 and 2022 In¢omg from othèr tradlng aetlvities 2023 2022 Income from trading actwities 770,842 770.842 691,365 All income from other trading activitles. wa5 attrtbutable to unrestri¢W funds in 2023 2022. 2023 2022 Inv•5tment Inmmè Interest recefvable 39.998 39,998 2,543 l incomg from investments was attributable to unrestricted funds in 2023 and 2022 Lr)m ro¢J) th*aJ CJ w> l LO uJ?O£ IX ￿￿-¢y)￿oI7J< vo tcp Ocr fo¢ kr) *XS aJ* uJÉ5228fr-a ISLE OF ￿GHT DONKEY SANCTUARY CIO Reyistered Charfty Number: 1159886 Motes to thg Financial Stat•m•nl$ Not IncomellexpendltUTe) 2023 2022 Net incomellexpenditure) is stated after Chargin￿(creditIng). Depreciallon (Profilllloss on disposal of fixed assets Auditorfs remuneration 111.149 175) 7.1C 79.338 14,5651 5,860 Staff cogts Number of employe88 The average numb8r of emF4oyee$ during the year was.. 2023 Number 2022 Number Farm Staff Office Staff Fundraising Staff Café Staff Shop Staff Estate Management 10 12 19 13 35 Employmonl costs 2023 2022 Salaries and wages Social security costs Employeffs contribution to defined Contri￿Jtion pension $¢heme. 807.909 54,534 13.095 875,538 612,032 39.186 9,546 660,764 There were no employees whose annual remuneration was £60,000 or more. The charity trustees were neither paid or retsNed any benefits from employment during the year 12022.. £Nill. Payments totalling £1,135, were made to Coh'n Ward during the yew. as reimbursement of expenses in¢urred on behalf of the charity. Reimburments of £74 were made lo Colin in 2022. The total employmont benefits including employer pension contributions of the kgy management personnel were £130.225.12022 - £80,0551- Key management personnel comprises of 4 staff. ' Susan Mccall- Chief Executive (Appointed March 20231 Derek Needham - Chartty Manager {Resigned August 20231 ' Jill Dubery- Finance & HR Administrator (Resigned September 2023) Julia Newton- Senior Farm & Training Managèr 31 ISLE OF WIGHT DONKEY SANCTUARY CIO Reglstered Charlty Number: 1159886 Notss to the Flnancial Statements Rotlrnment beneflt schome The charity operates a defined contribution pension Scheme for all qualifying empbyees. The assets of the srheme are held separately from those of the charity in an independenuy administered fund. Penslon costs 2023 2022 Empbyerfs pension cost 13,095 13,095 Relat¢d party tran$actlons There are no donations from related partres whlch are outside the nomial course of busine5S. The charty has tsken advantage Of ex8mpticffls in FRS102. from disclosing transactlons with other members of the group. During the year. wages of £20.233 were paid to Mr S Ward.(2022'. £15,979) Mr S Ward is deemed to be a retal￿ paty to th8 trustee, Mr C Ward. 10 Taxatlon The ¢*arity Is exempt from corporation tax as all its incty)mg is charitable and is apFlied for charitable purposes. The tharity's trading subsidiary. Thelsle of Wight Donkey Sanctuary Ltd. gift aids available profits to the parent charity. Its charge to ttjrporation tax in the year was £nil {2022-. £nill. 32 ISLE OF WIGHT DONKEY SANCTUARY CIO R¢gistered Charfty Number: 1159886 Not05 to the Financlal Stalements 11 Tanglble flxed assfrts Land and bulldlngs Plant and ma¢hlnery etc klotor vehlcles Total Groupand chaTity At 1 January 2023 Additions Disposals At 31 Decembgr 2023 1,986,990 115.655 350.570 234.624 3.4021 581,792 51.304 2,388,864 350.279 L3,4021 2.735,741 2,102.645 51.304 Dopreclatlon At 1 January 2023 Charge for the year On disposals At 31 De¢ember 2023 288,814 39,564 134.345 65,287 12,126} 197,506 26.118 6,297 449,277 111,148 12,126} 558.299 328,378 32,415 Net l)ook value At 31 December 2023 1,774,267 384.286 18,889 2,177,442 At 31 December 2022 1,698,176 216,225 25,186 1.939,587 Land and buildings Plant and machinery otc Motor vehl¢le¥ Total CharSty Cost At 1 January 2023 Additions Disposals At 31 December 2023 1.986,990 115.655 227,623 135,204 51.304 2.265,917 250,859 13,4001 2,513,376 359.427 D•proclatlon At 1 January 2023 Charge for the year On disposals At 31 December 2023 288,814 39,584 109.837 47,366 2,1261 155,077 26,118 6,297 424,769 93.227 32,415 515 870 Net book value At 31 December 2023 18,88 At 31 Decgmbw 2022 ,78S 25.186 1,841,148 33 ISLE OF WIGHT DONKEY SANCTUARY CIO Registered Charity Numbgr: 1159886 Notes lo tho Flnanclal Statements 12 Inves¢m•Trts Charity Subsldlary Vndortaklngs 2023 2022 Cost and book value at 1 January and 31 Der•mb•r Detsil$ of the subsidiary undertakings are sel out bd¢)W'. Countyof In￿rpOratIOn % Held The Isle of Wlght Donkey Sanctuary Limited England 100 Th• charity's investment 18 in rewect of wholly D￿d subsidiary, Th• Isle ofwighl Donkey Sanctuary Limited, • ¢ompany which opeTale$ trading activities for the charty by operating a café and gift shop. The Isle of Wl9ht Donkey Sanctuary Limited 1$ a company registered in EnglancL 13 Subsldlary undgrtaklng The Gharty ovm¥ the vthde of the issued Share capital of The1818 of Wight Dwkey Sanctuary Limlted, a company registered in England. The company number is 03020657. Th$ r¢gi$tered offiee address is SHMS House, 20 Litt18 Park Farm RDad, Fargham, Hampshlre. United lQngdom, P015 STD. The subsidiary 18 U8ed foT non-prirnary purpose trading activf(ies, in the fom of operating an cafg and gift shop. All activitles have been cons01idatÈd on a lin• by lin• basis on Ihe statement of ffinanaal adiwties. Availatle proflls ara dislrtbut•d to the parent charity. 2023 2022 Summary ofsubsldlary rnsults Turnover Cost of sales Gro55 profft Administrative expertses Other operating income linc. govemmenÉ grants) Profit on ordinary acliwb'es Deel of covenant to paient undertaking Profit for the financial year 770,842 319,033 451,809 (370,5411 691,365 288,324 403.041 {299.4781 81,268 81,268 103,563 103,563 The aggregate of assets, liabilities and funds was". Assets L[abIl￿e8 Funds 309.287 307,332 332,569 330,6141 Amounts owed tolfrom parent undertaking are shown in note 16 ISLE OF WIGHT DONKEY SANCTUARY CIO Règlstered Char]ty Numbgr: 1159886 Not•s to thg Financlal Statements 14 Parent Charity The parent charity's gross Income and the results for the year are disc105ed as follow5.. 2023 2022 Gross incoming resour￿$ Result for the year 1,557,619 1.576,252 486 744 Result for the year inGILKtes a donation from Subsithary undertaking of £61,26812022.' £103.248) 15 stocks The Group 2023 Th¢ Chaiity 2023 2022 2022 Stocks held for other trading activities 57,919 57,919 37,754 37,754 Stocks held are used within the ¢harfty's tradlng SUbS￿l8ry and used solely for trading aGtivtbe$ 16 Debtorn: amount falllng du• vAthln on• year The Group 2023 The Charity 2023 2022 2022 Oiher Debtors Prepayment5 Amounts due from group undertakings Accrued ino)me Trade Debtors Legacies reG8Nabl• 2,B47 30,165 29,213 19,872 2.500 25,773 29,213 19,384 271.870 33.892 300,516 10,679 33,892 1,000 645,300 713.204 10,679 374,298 434.522 645,300 979,335 374,298 734.090 17 Current asset Inv68tment8 Tho Group 2023 Th? Charlty 2023 2022 2022 Short ferm deposits 1.205,840 1,205 840 1,205.840 1,205,840 Investsments in short temi deposits have an orwjlnal maturfty of 12 months or less. At the balance sheet dale the average maturity of the deposits was 3 months. The average Interest rate was 4.58%. 35 ISLE OF WIGHT DONKEY SANCTUARY CIO Reglsterèd ChaTIty Number. 1159886 Notes to tho Flnancial Statomonts 18 cr￿lt0￿. amounts falling due within ong ygar The Group 2023 The ChaTIty 2023 2022 2022 Trade creditors Taxation and social seGurity Other credltors Accruè(l expense8 Credit Card 79,946 25,792 5,855 17.165 2,476 131,234 38,671 23,342 62.918 15,734 1,966 13.735 1,417 23,042 10,828 12,338 2,144 76,4 10,639 2,097 46,406 19 Anaty818 of group not assets betsvoen funds {Gurr8nt year} G8n•ral unre5tvlGt8d Réstslctsd fur Total fund8 Net assets 4,244,971 4.244.971 4,244 971 4,244,971 20 Anatysls of group not assets between funds (prior year) Genordl Re#irb¢iod funds Totsl fvnd¥ Net assets 3.993.772 3,993,772 3,993 772 3,993 772 Ill 7J fTJu E£ ZJ In£ L> £L Q) Ja ?0￿ 2 115 0 tn UP'_ LL 8r* e £L2 ¥c ISLE OF WIGHT DONKEY SANCTUARY CIO Reglstered Charity Num￿r. 1159886 Noles to the Finan¢ial Statemfrnts 22 Reconclllatlon of n•t Incom¢ to net cash Ilow from optrrallng actlvlll 2023 2022 Net Incom• lor the r•portlng p8rtod 251,199 486,744 Adjustments for.. Depreciation tharges {ProfftllLoss on disposal of flxed assets Interest recewable IlncreasallD8crease in stocks IlncreasellDecrease in debtors Increasel(De¢reasal in credbtors 111.149 1751 {39.9981 {20.1651 1278.6821 54.738 79,338 14,565) 12,5431 111,4111 1276,8431 158,9081 Net ¢a¥h provld•d by operatlng actlvltles 78,166 211 812 23 Comparative$ for th• statement of Ilnan¢lal actlvltles 2022 2022 2022 2021 Unre8trlcted FurKIy ReslriG¢ed Funds Total Funds Totsl Funds 1￿me Irom: Donalions and legacies 1,470.145 1,470.145 1.389,357 Other tradlng activlties 691,365 691.365 544,501 Investment Income 2,543 2,543 33 Total incomlng r•¥ourco8 2,164,053 2.164,053 1,933,891 Resources expendod Raising funds 114,525 114,525 65,601 Charitabl8 activitlas 974,981 974.981 792,439 Other trading 8Ctivities 587,803 587,803 428 538 Total r•soUrC￿ gxp¢n¥ed 1.677.309 1,677,309 1.286.578 Net Incom? 486,744 486,744 647,313 R￿0￿cl11allOrt of lunds Total funds brought fO￿ard 3,507 028 3,507 028 2,859 715 Totsl fund8 ¢arried lorward 3,993,772 3,993.772 3,507 028 There were no restrithd fvnds ￿ 2021 39 ISLE OF WIGHT DONKEY SANCTUARY CIO Regtsternd Charlty Numbor: 1159886 N¢AK to tho Flnanclal Statgments 24 Op•rating le•sg commilmonts payablg as a10s809 The group's totsl full1￿ minimum lease payments under non-cancellable operating leases is as follows for each of the foll¢)wing ￿riOdS Equlpment 2023 2022 Less than one year More than one year 1.997 1.164 3.161 1.997 3,161 5,158 25 Gapltal commltments At the balance sheet date, the group had no capilal commitments. At the previous reporting dale. Ihe gK)up had capitsl commitments of £57,499. in relation lo groundworks on thg site, which were completed in 2023. 26 Controlllng party The charity is controled by ib trustees 27 Materfal Logacles Legacy income is reco9nised as incoming resources when the charty has received the legacy. or when both the receipt and the amount can be reliabty estimated and are considered probable. As of 31 De¢ember 2023, the charity had no legacies for which thg amount or likelihood of receipt could not be detemilned. Consequendy. there are no material legaciès to report as of 31 Decèmbèr 2023.