COLLEGE OF LABORATORY ANIMAL SCIENCE AND TECHNOLOGY
operating as CLAST
CHARITABLE INCORPORATED ORGANISATION NO. 1162719
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31[ST] JULY 2020
KING LOOSE & CO ACCOUNTANTS
ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL
CLAST
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31[ST] JULY 2020
CONTENTS
| Page | |
|---|---|
| Charity Information | 1 |
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 2(b) |
| Independent Examiners Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 - 9 |
1.
CLAST
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31[ST ] JULY 2020
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | K A Applebee OBE | Chairman |
|---|---|---|
| D S Spillane | ||
| P A Flecknell | ||
| S E Wells | ||
| N Dennison | ||
| G Childs | ||
| Administrator | N Stevens | |
| Charitable Incorporated | ||
| Organisation No: | 1162719 | |
| Registered Office | 5 South Parade, | |
| Summertown | ||
| Oxford | ||
| OX2 7JL | ||
| Bankers | National Westminster Bank Plc | |
| 30 High Street | ||
| Chippenham, Wilts | ||
| SN15 3HB | ||
| Independent Examiner | Mrs H C Fanthome FCA | |
| King Loose & Co | ||
| St John's House | ||
| 5 South Parade | ||
| Summertown | ||
| Oxford | ||
| OX2 7JL |
2.
CLAST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31[ST] JULY 2020
The Trustees present their annual report and financial statements, for the period ended 31[st] July 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, 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 – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Structure, Governance and Management
In accordance with the constitution, the first Trustees are appointed for defined terms as follows:-
First Trustees
K Applebee - for 4 years D S Spillane - for 3 years
Additional Trustees
P A Flecknell S E Wells N Dennison G Childs
Apart from the first Trustees, every Trustee must be appointed for a term of 3 years.
Where new Trustees are appointed, the existing Trustees must make available to the appointee a copy of the current constitution plus the latest Annual Report and statements of account.
Future Trustees will be appointed by the Board following selection based upon their professional skills and their willingness to serve. There is no formal training policy.
The charity is organised such that the Trustees meet and converse regularly to review strategy and to generally oversee its affairs. All Trustees participate equally in the running of the Charity. Whilst not employed by the Charity itself, the services of an administrator are paid for by the Charity to cover accounting and administrative functions.
Objects and Aims of the Charity, including Public Benefit Statement
The Charity’s principal activity is the promotion of excellence in the welfare of animals in science by the provision of higher education for animal care staff and others who work in science.
The aims of the charity to further these objects are to:
-
(a) provide the setting and resources for students to engage in the study of laboratory animal science, technology and welfare;
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(b) to organise teaching programmes and tutorial support to prepare students for higher education qualifications or CPD certificates in laboratory animal science, technology and welfare;
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(c) carry out assessment associated with the teaching programmes in accordance with the requirements of external awarding bodies;
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(d) establish and maintain an online resource to assist students to keep up to date with relevant topics;
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(e) gather, publish and disseminate literature on animal welfare and related topics;
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(f) establish an online distance learning option to increase the availability of the course offering thereby increasing the number of students attending the courses in keeping with our objective.
In considering these aims and objects, the Trustees have reviewed the guidance issued by the Charity Commission in relation to public benefit, and consider that the public benefit test continues to be satisfied.
2(a).
CLAST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31[ST] JULY 2020
Activities to Achieve Aims
In furtherance of these aims the Charity has organised and run 12 units of the Institute of Animal Technology* Higher Education qualifications in Laboratory Animal Science and Technology. There were four units at level 4, four units at level 5 and four units at level 6. The average number of students on each unit at levels four and five were nine and the average pass rate was 85%. The students who did not pass will have the opportunity to complete in the next year. A total of ten students enrolled for the Level 6 units, assessment for this level is ongoing.
*The Institute of Animal Technology is a Registered Ofqual Awarding Organisation (Recognition Number: RN5252) and their HE qualifications are on both the National and European Qualification Frameworks.
CLAST was represented at two national and two regional laboratory animal science and technology meetings. The intention of attending these meetings was to talk to potential students and their employers. In addition to attending these meetings, the HE courses CLAST offers have been advertised in specialist animal science and technology publications and by e-newsletters.
The CLAST website (www.clast.org.uk) which serves actual and potential students, has been improved and updated.
Achievements and Performance
The Trustees consider that the performance of the Charity in these early years of operation, has been sound.
Financial Review
The Charity’s principal funding source is fees from students. Since deregistering for VAT, the cost of courses to students has become more affordable; this, however, is at the expense of effective cost increases where purchase VAT can no longer be recovered.
Expenditure is kept under tight control. This reflects the careful husbandry of resources whilst seeking to provide library and other study resources for students, and financial management and reporting. This expenditure has helped to achieve the aims set out above and resulted in the specific achievements noted.
Reserves Policy
The Charity’s unrestricted general funds showed a surplus of £21,962 at the period-end, this being after the transfer of £15,000 to a Designated Fund for online course development. The need for day-to-day working capital is met by careful management of short-term liquid resources in the absence of sufficient free reserves in these early periods of activity.
The Trustees consider that free reserves amounting to three month’s operating costs would be prudent and advisable in order to cover the risks and uncertainties of operating as a foundation for higher education. Their policy is therefore to build up cash reserves out of annual operating surpluses and/or specific donations for this purpose until the intended level of free reserves is reached, and sustained.
Future Plans
CLAST will continue to offer twelve units a year.
CLAST Trustees have obtained funding to update and improve our marketing strategy. This should help to increase the number of students, not only those aiming to complete qualifications but also those who take units for their Continuing Professional Development.
The Trustees and the Course Director continue to seek funding to enable us to convert some of our taught units to an internet based distance learning format. This will increase the availability of our course offering by increasing flexibility and reducing the need for students to be away from the workplace. The Trustees have created a separate Designated Fund for such online course development
Risk Management
The Trustees have examined the major strategic, business and operational risks which the Charity faces or may face, and confirm that systems are in place to enable regular reports to be produced, so that the necessary steps can be taken to lessen any such risks.
2(b).
CLAST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31[ST] JULY 2020
Statement of Trustees' Responsibilities
The Trustees are required by law 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 its results for that period. In preparing those 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 applicable 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;
-
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 which disclose with reasonable accuracy at any time the financial position of the charity, and to enable them to ensure that the financial statements comply with the Constitution, the Charities Act 2011 and the applicable Charities SORP. 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.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Signed by order of the Trustees
…………………………………….
K. A. Applebee Chairman
…………………………………….
Date
3.
CLAST
INDEPENDENT EXAMINER’S REPORT
FOR THE PERIOD ENDED 31[ST] JULY 2020
I report on the accounts of the charity for the period ended 31[st] July 2020, which are set out on pages 4 to 9.
Respective responsibilities of the trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:-
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a) Examine the accounts under Section 145 of the 2011 Act;
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b) to follow the procedures laid down in the General Directions given by the Charity Commissioner under Section 145(5)(b) of the 2011Act; and
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c) to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity, and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
King Loose & Co St John's House …………………………………… 5 South Parade Mrs H C Fanthome FCA Summertown Oxford OX2 7JL Dated: ……………………………
4.
CLAST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31[ST] JULY 2020
SUMMARY INCOME AND EXPENDITURE ACCOUNT
| Income & endowments from: Voluntary income Income from charitable activities Total Income & Endowments Expenditure on: Charitable Activities Grants expended Costs of charitable activities Support Costs Total Resources Expended Net Income for the period, before transfers Transfers between funds Net movement in funds Fund Balances B/fwd Fund Balances c/fwd |
Unrest- ricted Funds Note 2020 £ 2 8,500 3 105,186 __ 113,686 __ - 4 83,327 5 14,220 __ 97,547 __ 8 16,139 6 (15,000) __ 1,139 20,823 __ 21,962 ====== = |
Desig- Unrest- nated Total ricted Funds Funds Funds 2020 2020 2019 £ £ £ - 8,500 23,000 - 105,186 148,270 _ _ _ _ - 113,686 171,270 _ _ - - - - 83,327 110,780 - 14,220 31,052 _ _ - 97,547 141,832 _ - 16,139 29,438 15,000 - - _ _ 15,000 16,139 29,438 - 20,823 (8,615) ____ _ 15,000 36,962 20,823 ===== ====== ====== = |
Desig- nated Total Funds Funds 2019 2019 £ £ - 23,000 - 148,270 __ _ - 171,270 _ _ - - - 110,780 - 31,052 _ - 141,832 _ - 29,438 - - _ - 29,438 - (8,615) ___ - 20,823 ===== ====== |
|---|---|---|---|
= |
There were no other recognised gains or losses in respect of 2020 or 2019, other than those reflected in the statement of financial activities.
The notes on pages 6 to 9 form part of these accounts.
5.
CLAST
BALANCE SHEET AS AT 31[ST] JULY 2020
(CHARITABLE INCORPORATED ORGANISATION NO: 1162719)
Note £ Current Assets Debtors 9 28,548 Cash at bank 25,250 _ 53,798 Creditors: Amounts falling due in one year 10 16,836 _ Net Current Assets Total Assets less Current Liabilities, being Net Assets Represented by Unrestricted Funds -General funds 11 -Designated Funds 12 |
2020 2019 £ £ £ 35,085 11,388 _ 46,473 25,650 _ 36,962 20,823 _ _ 36,962 20,823 ====== ====== 21,962 20,823 15,000 - _ ______ 36,962 20,823 ====== ====== |
|---|---|
Approved by the Trustees on 2020 and signed on its behalf by:
…………………………………
………………………………… Mr K A Applebee
The notes on pages 6 to 9 form part of these accounts.
6.
CLAST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] JULY 2020
1. Accounting Policies
(a) General Information
These financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the Charity operates.
(b) Basis of preparation
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 notes(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The charity has taken advantage of the exemptions available to it on the grounds of size, and has not prepared a cash flow statement.
(c) Activities
The financial statements include the results of the charity's operations as described in the trustees’ report.
(d) Income recognition
Income of all kinds is accounted for when receivable, i.e. in the period in which the charity is entitled to receipt, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Where services are donated to the charity, or costs are paid for by others on behalf of the charity without reimbursement being sought, such items are recognised as donated income and the relevant cost similarly recorded according to its expense category.
(e) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured.
Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category.
All core cost categories are regarded as being of a support nature to the Charity’s principal activity, as described in the Annual Report. It is anticipated that any future specific projects will be covered by restricted funds – i.e. funds raised specifically for that project.
(f) Financial assets – classified as basic financial instruments
i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short term highly liquid investments with original maturities of three months or less.
ii) Trade and other receivables
Trade and other receivables that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. iii)Trade and other payables
Trade and other payables that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.
(g) Translation of Foreign Currencies
Monies received and expended in foreign currencies are accounted for at the rate of exchange prevailing at the date of the transaction.
7.
CLAST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] JULY 2020
(h) Fund Accounting
-
Funds held by the Charity are either:
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Unrestricted General Funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
-
Designated Funds – these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.
-
Designations out of unrestricted general funds are reflected as transfers in the Statement of Financial Activities.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
(i) Going concern
The financial statements have been prepared on a going concern basis.
The current economic conditions present increased risks for all businesses. In response to such conditions, the directors/trustees have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements.
The trustees have concluded that the going concern basis remains appropriate.
2. Voluntary Income
| Voluntary Income | ||||||
|---|---|---|---|---|---|---|
Donations |
Unrestricted Funds General £ 8,500 ====== |
2020 | Total Funds £ 8,500 ===== |
Unrestricted Funds General £ 23,000 ====== |
2019 = |
Total Funds £ 23,000 ===== |
= |
||||||
3. Income from Charitable Activities
Student fee income |
Unrestricted Funds General £ 105,186 ====== |
2020 |
|---|---|---|
4. Costs of Charitable Activities
Program Costs Lecturers and tutor costs Room hire Direct course costs Program director costs |
Unrestricted Funds General £ 33,847 11,510 13,535 24,435 ______ 83,327 ====== |
2020 | Total Funds £ 33,847 11,510 13,535 24,435 ______ 83,327 ====== |
Unrestricted Funds General £ 46,043 17,997 22,256 24,484 ______ 110,780 ====== |
2019 Total Funds £ 46,043 17,997 22,256 24,484 ______ 110,780 ===== |
|---|---|---|---|---|---|
None of the costs shown above were met from the Designated Funds (2019: £nil)
8.
CLAST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] JULY 2020
5. Other Support Costs
General Course Development Advertising and marketing Meeting expenses Administrator’s costs Independent examiner’s fees Professional indemnity insurance System License Printing, Postage and Stationery |
Unrestricted Funds General £ 660 4,985 3,798 1,386 1,560 1,478 - 353 ______ 14,220 ====== |
2020 | Total Funds £ 660 4,985 3,798 1,386 1,560 1,478 - 353 ______ 14,220 ====== |
Unrestricted Funds General £ 4,920 19,355 672 2,034 1,650 1,419 660 342 ______ 31,052 ====== |
2019 |
Total Funds £ 4,920 19,355 672 2,034 1,650 1,419 660 342 ______ 31,052 ===== |
|---|---|---|---|---|---|---|
None of the costs shown above were met from the Designated Funds (2019 £nil).
6. Transfers between funds
An amount of £15,000 has been allocated out of unrestricted general funds, by means of a transfer, to a Designated Fund for online course development.
7. Staff Costs
The Charity has no paid employees.
| 8. 9. 10. |
Net Income for the Period 2020 2019 £ £ The surplus of income over expenditure is stated after charging: Independent examiner’s fees, incl. irrecoverable VAT 1,560 1,650 Bank interest and charges - - ====== ====== Debtors 2020 2019 £ £ Student fee debtors 27,720 32,760 Prepayments & accrued income 828 2,325 _ _ 28,548 35,085 ====== ====== Creditors: Amounts Falling Due in One Year 2020 2019 £ £ Trade creditors - - Other creditors and accruals 9,276 1,500 Deferred income 7,560 24,150 _ _ 16,836 25,650 ====== ====== |
2019 |
|---|---|---|
9.
CLAST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] JULY 2020
11. Unrestricted Funds - General
| Unrestricted Funds - General Funds = Unrestricted Funds– Designated Fund for online course development |
Balance 01/08/19 £ 20,823 ====== Balance 01/08/19 £ - ====== |
Movement in | Resources Outgoings & Transfs £ 112,547 ======= = Resources Outgoings & Transfs £ - ====== |
Balance 31/07/20 £ 21,962 ====== Balance 31/07/20 £ 15,000 ====== |
|---|---|---|---|---|
| Incoming & Transfs £ 113,686 ======= Movement in |
||||
| Incoming & Transfs £ 15,000 ====== |
12. Unrestricted Funds – Designated
| 13. | Total Fund Movements General Funds Designated Funds |
Balance 01/08/19 £ 20,823 - _ 20,823 ====== |
Movement in | Resources Outgoings & Transfs £ 112,547 - _ 112,547 ====== |
Balance 31/07/20 £ 21,962 15,000 _ 36,962 ====== |
|---|---|---|---|---|---|
| Incoming & Transfs £ 113,686 15,000 _ 128,686 ====== |
14. Reconciliation of Movement in Shareholders' Funds
College of Laboratory Animal Science and Technology, being a charitable incorporated organisation, has no shareholders; it is, therefore, inappropriate to include a reconciliation of the movements in shareholders' funds.
15. Analysis of Net Assets between Funds
Both unrestricted fund categories – general and designated – are wholly represented by net current assets.
16. Commitments
In the opinion of the Trustees, there were no outstanding capital commitments at 31[st] July 2020.
17. Trustees’ Expenses
None of the Trustees receives expenses; occasional cost reimbursements are made to the Trustees where they have incurred expenditure on behalf of the Charity.