## **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;
- (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;
- (c) carry out assessment associated with the teaching programmes in accordance with the requirements of external awarding bodies;
- (d) establish and maintain an online resource to assist students to keep up to date with relevant topics;
- (e) gather, publish and disseminate literature on animal welfare and related topics;
- (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:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the applicable Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- 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:-
- a) Examine the accounts under Section 145 of the 2011 Act;
- 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
- 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:
- 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.