COLLEGE OF LABORATORY ANIMAL SCIENCE AND TECHI4OLOGY eratin as CLAST CHARITABLE tNCORPOIL4TED ORGANISATION NO. 1162719 FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31- JULY 2024 KING LOOSE & CO ACCOUNTANTS ST JOHN'S HOUSE S SOUTH PARADE SUMMERTOWN XFORD OX2 7JL
CLAST FINAI¥4CIAL STATEMENTS FOR THE PERIOD ENDED 31- JULY 2024 CONTENTS Pag¢ Charity Infomiation Trustees, Report Statement of Trustees, Responsibilities 2(b) Indepcndent Examiners Report Stat¢ment of Financial Activities Balance Sheet Not¢s to the Financial Ststements
CLA FANCIAL TATEMENTS FOR THE PERIOD ENDED 31STJuLY 2024 LEGAL AIW ADMINISTRATIVE INFORMATION Trustees K A Applebee OBE D S Spillane P A Flecknell S E Wclls N Dennison G Childs Chair Charitable Ineo orated anisation No: 1162719 tered Office 5 South Parade, Summertown Oxford OX2 7JL B#Dkers National Westminster Bank PIC 30 High Str¢¢t Chippenhajn, Wilts SN15 3HB Inde endent Examiner Mrs H C Fanthome FCA King Loose & Co St John's Hous¢ 5 South Parade Summertown Oxford OX2 7JL
CLAST TRUSTEES, REPORT FOR THE PEIUOD ENDED 31- JULY 2024 The Trustees preseni their annual report and financial statemenls, for the period ended 3151 July 2024. The financial stalements l?ave been prepared in accordancc with the a¢¢ounting policies set out in note I to the accounts and comply with the charity's ¢onstitution, the Charities Act 2011. and Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their aount$ in accordance with the Financial Reporting Standard applicable in the UK and Republic of Jreland- Charities SORP (FRS 102). and the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102). Structure overnanee and Man ement In a¢cordance with the constitution, the first Trustees are appointed for defined terms as follows.'_ First Trustees K Applebcc D S Spillane for 4 years for 3 years Additional Trustees P A Flecknell S E W¢lls N Dennison G Childs Apart from the first TnJst¢¢s, every Trustee must be appointed for a tertn of 3 years. Where new Trustees are appointed, the cxistingTrustees must make available to the appointee a copy ofthe current constilution plus the latest Annual Report and ststements of account. Future Trustees will be appointrd by the Board following 5¢1cction based u]x)n their professional skills and their willingness to serve. There is no fomial training policy. The charity is organised such thai the Trustees meet and ¢onverse 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 a¢wunting and administrative functions. Ob'ects and Aims of the Chari includin Public Benefit Statement The Charity's principal activity is the promotion ofexcell¢nc¢ in t])e welfare of animals in science bythe provision of higher education for animal Care staff and others who work in science. The aims of the charity to fvrther these objects are to: (a) provide ihe s¢tting and resources for students to engage in the stvdy of laboratory animal science, technology and welfare- to organise teaching pro8rammes and tutorial support to prepare students for higher education qualifications or CPD certificates in laboratory animal science, technology and welfare. carry oul asscssiment associated with the teaching programmes in accordance with the requir¢m¢nts of external awarding bodies. establish and maintain an online resource to assist students to keep up lo date with relevant topics. gatli¢r, publish and disseminate litcrature on animal welfare and related topics; establish an online distance learning option to increase tl)e availability of the course offering thereby in¢reasing the number of stud¢nts attending the courses in k¢¢ping with our objective. (b) (c) (d) (e) In considering these aims and objects, the Trustees have reviewed the guidance issued by thc Charity Comtlli55ion in relation to public bcncfiL and consider that the public benefit lest continues to be satisfied.
2(a). CLAST TRUSTEES, REPORT FOR THE PEIUOD ENDED 31- JULY 2024 Activities to Achieve Aims In furtherancc of th¢s¢ aims the Charity has organised and run 12 units of the Institute of Animal T¢¢hnology Higl)er Education qualificatioris in Laboratory Animal Science and T¢¢hnology. There were four units at level 4, four units at level 5 and four units at level 6. *The Institut¢ of Animal Technology is a Registered Ofqual Awarding Organisation (Recognition Number: RN5252) and their HE qualifications ar¢ on both the National and European Qualification Frameworks. The HE courses CLAST offers have ixen advertised in specialist animal science and technology publications and by e-newsletters. The CLAST website (www.clast.org.uk) which serves actual and potential student& has been improved and updated. Achievernents and Pcrforniance T])e Trustees consider that die performance of the Charity in these early years of operation, has been sound. Financi81 Review The Charity's principal funding source is fees from students. Since deregistering for VAT, the cost of ¢ourses to students has become more affordable. this, how¢ver. is at the expense of eff¢ctive cost in¢r¢as¢s where purchase VAT can no longer be recovered. Expcnditure is kept under tight control. This reflects the careful husbandry of resources whilst seeking to provide library and oiher study resources for students, and financial Inanagement and rcporting. This expenditure has helped to achieve the aims set out abov¢ and resulted in the specifi¢ a¢hievemeiit5 noted. Reserves Polie Thc Charity's unrestricted general fvnds showed a deficit of £27,222 (2023.. £26,471) at th¢ period-end. The need for day-to-day working capital is met by careful management of short-tsmi liquid resources in the absence of suifieient free reserves in these early periods of activity. The Trustees consider that free reserves amounting to threc tnonth's operating costs would b¢ prudent and advisabl¢ in order to cover the risks and uncertaintie5 of operating as a foundation for higher education. Their policy is therefore to build up cash reserves out of annual operating surpluscs andlor specific donations for this pur]y)se until the intended level of free reserves is rca¢h¢d, and sustained. Future Plans Throughout 2022-3. the CLAST Trustees worked tirelessly with the Institute of Animal T¢chnology (IAT) Board of Educational Policy to completely revise the IAT Levels 4, 5 and 6 qualifications. This exer¢ise was cotnpleted in time for CLAST to teach to the new qualifications as from academic year 2023-4. 11 is very much hoped that the newly multi-unit qualifications, with multi-oplional units, will be more attractive to Sludenls and employer5, allowing CPD opportunities alongsid¢ the conventional diploma routes. The Trustees hopes that the new HE syllabus, greater fl¢xibility will help to ensure the long-term viability of the IAT HE qualifications and CLAST as a provider. To reflect the changes to the IAT HE qualifications, the MLC has red¢signed the CLAST website www.clast.or .uk
21b). CLAST TRU TEES, REPORT FOR THE PEIUOD ENDED 3151. JULY 2024 Rlsk Mana ement Thc TNstees have examined the major strategic, business and operational risk8 which the Charity faces or may face, and confiTm that systems are in pla¢e to enable Twjlar reports to be produccd, so that the neccssary steps Can be takcn to lessen any such risks. Statement of Trustee5' Re$ onsibilities Thc Tnjstees ar¢ r¢quired by law to prepare financial slatements for each fJnaDcial year which giv¢ a true and fair view of the state of affai[5 of the Chatity. and of its results forthatwiod. In preparing those fcIal stateLnents. the Trstee$ are required to. Select suitabl¢ accounting policies and thell apply them CODSislently' Observe the method5 and principles in the applicable Charities SORP. Make judgements and estimAtes that are rcasonable and prudent. State whcthcr Applicable accounting standards have bc¢n followe4 subject to any material departLwes disclosed and explained In the financial statements. Prepare the financial statcments on thc going concern basis unless it ts inappropriate to presume that the Charity will continue in business. The Trustee8 are responsiblc for keeping proper accounting Tecords which disclose with reasonable accuracy at any tim¢ the financial position of th¢ charity. and to enable them to ensure that the financial statements comply with the constitutio the Charities Act 2011 and the applicable Charities SORP. They are also responsible for safcgllarding th¢ assets of the charity and hence for taking reasonable stcps for the prcvention and detcction of fraud and other irrcgul2rities. The Trnstees are rwible for the maintenaD¢e and integrity of the charity and financial infOrntion included on thc charity's websitc in accordance with legislation in the Unitcd Kingdom governing the preparation and dissemination of fi[IcIal staÉcments. sId by order of the Trust¢es Mr. K. A. Applcbee Chair Date
CLAST INDEPENDE T EXAMINER'S REPORT FOR THE PERIOD ENDED 31sf JULY 2024 I report on the accounts of the charity for the period ended 31 July 2024, whi¢h are set out on pages 4 to 9. eetive res onsibilities of the trustees and examiner The charity's tNstees ar¢ responsible for the preparation of the accounts. The charity's trustees ¢onsider 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 15 my responsibility to-.- Examin¢ the accounts under Section 145 of the 201 l Act. to follow the procedures laid down in the General Directions given by the Charity Commissioner under Section 145(5Kb) of the 201 IAct,' and to stat¢ whether particular matters have come to my attention. b) Basis of inde endent ¢xaminer's re ort My examination was ¢arried out in accordance with the general dircctions 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 considcration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerniiig any such mattcr5. The procedures undertaken do not provide all the evidetkce that would be required in an audit, and consequently no opinion is given a5 to wh¢ih¢r the accounts present a 'true and fair view, and the report is limitcd to thos¢ matters set out in the statement below. Inde endent ¢xamincr's sthtement In connection with my examination, no matter has comc to sny attention.. (i) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in ac¢ordance with Section 130 of the 201 l ACL and to prepare accounis which aOrd wilh the aoUnting 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 cnabl¢ a proper understanding of the accounts to be reached. King lJ)ose & Co St John's House 5 South Parade Sllmmertown Oxford OX2 7JL Mrs H C Fanthome FCA 1SnL
CLAST STATEMENT OF FINANCIAL ACTJVITIES FOR THE PERIOD ENDED 31sf JULY 2024 SUMMARY INCOME AND EXPENDrruRE ACCOUNT Unrest- rieted Funds 2024 Desig- nated Funds 2024 Unrut- ricted Funds 2023 De5ig- n#ted Funds 2023 Total Funds 2024 Total Funds LNote 2023 Income & endowments from: Voluntary income Incomc from charitable activities 2,000 43,847 2,000 43.847 3 116,847 116,847 Total Ineome & Endoivments 116,847 116.847 45,847 45,847 enditure on: Charitable Aetivities Costs of charitable activities 4 95,179 5 20,917 95.179 20,917 47,767 11,050 47,767 11,050 Support Costs Totsl Resources Expended 116,096 116,096 58,817 58,817 Net (Expenditure) for the Pcriod, before transfers 751 751 (12,970) (12.970) Transf¢rs between funds 30,000 (30,000) Net movetnent in funds 751 751 17.030 (30,000) (12.970) Fund Balances B/fiYd 26,471 26,471 9.441 30,000 39,441 Fund (Deficit)IBalances Clfwd 27,222 27.222 26.471 26,471 Therc were no other recognised gains or105ses in respect of 2024 or 2023. other than those reflected in th¢ statement of financial activities. The notes on pages 6 to 9 fomi part of these accounts.
CLAST BALANCE SHEET AS AT 315f JULY 2024 HARrfABLE INCORPOIIATED ORGAf4isATION NO: 1162719 2024 2023 Note Currellt Assets Debtors Cash at bank 1,966 49,801 1.375 36.582 51.767 37.957 Creditors: Amounts falling due in otte year 10 24,545 11,486 Net Current Assets 27,222 26.471 Total Assets le55 Current tllabilitie5, being Net Assets 27.222 26,471 resented b UnTestri¢ted Funds -General funds -Designatcd Funds 27,222 26,471 12 27222 26.471 e Trnstees on 19th AJ 2025 aud signed on its behglfby: Mr G Cbilds Mr K A Applebee The notes on pages 6 to 9 forni part of thes¢ accounts.
CLAST ST NOTES TO THE FINANCIAL STATEMENfs FOR THE PERIOD ENDED 31 JULY 2024 Policies Aeeountin (a) General Information These finan¢ial statements have been presented in Pounds Sterling as this is ihe currency of the primary economic environment in which the Charity op¢rdtes. (b) Basis of preparation The accounts (financial statements) have been prepared under the liistorical c05t convention with items recognised at cost or transaclion value unless otherwise statcd iii th¢ relevant note(s) to these accounts. The financial statements have been prepared in accordance with tl)e Statement of Recommended Practice.. Accounting and Reporting by Charities preparii)g their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and R¢public of Ireland (FRS 102)- Charitics SORP (FRS 102). and the Financial Reporting Stsndard applicable in the UK and R¢public of Ireland {FRS 102). and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. Th¢ charity has taken ttdvantage of the exemptions available to it on the grounds of size, and has not prepared a cash flow stat¢m¢nt. (c) Activities The financial statements includ¢ the sUlts of the charity's operations as described in th¢ trustees. report. (d) Income recognilion Income of all kinds is accounted for when receivable. i.e. in the period in whi¢l) the charity is entitled to receipL it is probable that the income will be received and tl)e amount of income receivable can be measured reliably. Where Services are donated to the charity. or costs ar¢ paid for by others on behalf of the charity without reimbursement being sought, such items are recognis¢d as donated income and thc relevant cost similarly recorded according lo its expense category. (e) Expenditure recognition Liabilities are recogniscd as expenditure as soon as there is a legal or constru¢liv¢ obligation ¢ommitting the charity lo that expenditurc. it is probable that scttl¢in¢nt will be required and the amount of the obligation can be reliably mcasured. Expenditure is included on an accruals basis and has been classified under headings that aggregatc all costs related to thc category. All corc cost tegorieS are regarded as being of a support nature to tlie Charity's principal activity, as described in the Annual Report. It is anticipated that any future specific projects will be cover¢d by restricted funds- i.¢. funds raised specifically for that projcct. (o Financial assets- classified as basic financial instTuments i) Cash and cash equivalents Cash and casli cquival¢nts include cash in hand, deposits held with banks, and other short terni highly liquid investments with original maturities of three months or less. ii) Trade and other receivables Trad¢ and other receivables that are receivable within one year are measured at the undiscounted amount of the cash expected to be r¢¢¢ived, net of any impairni¢nt. iii)Trade and other payables Trad¢ and other payables that ar¢ payable within on¢ year are measured at the undiscounted amount of the cash expected to be paid. Translation of Foreign Curreneies Monies received and expended in foreign Currencies are account¢d for at the rate of exchange prevailiiig at the date of the transaction.
CLAST NOTES TO THE FtNANCIAL STATEMENTS FOR THE PEIUOD ENDED 31- JULY 2024 (h) Fund Aecollnting unds held by the Charity are either.. Unrestricted General Funds- these are fuiids which ¢an be used in accoTdance wilh th¢ charitable objects at the discretion of the Trustees. Designated Fuiids- these are funds set aside by tli¢ Trustees out of unrcstri¢ted general fvnds for specific future purposes or projects. Designations out of unrestricted general funds are r¢fleCt as transfers in the Statement of Financial Activities. Further explanation of tlie nature and purpose of each fund is included in th¢ notes to the financial statements. (i) Going eoncern The financial statements have been prepared on a going ¢on¢ern basis. The current economic conditions present increased risks for all businesses. In response to such ¢onditions, the directors/trustees have carefully considered these risks. iiicluding an assessment of uncertainty on future trading projection for a period of at least 12 Inondis from thc date of signing the financial stat¢m¢nts, and the extent to whi¢h they might affect th¢ pr¢paration of the financial statements. The trustees have concluded that the going con¢em basis remains appropriate. 2. Volunta Income 2024 2023 Unrestricted Funds General Unrestricted Funds General Totsl Funds Total Funds Donations 2,000 2,000 3. Ineome from Charitable tivitie 2024 2023 Unrestricted Fund5 General Unrestricted Funds General Total Funds Total Funds Stydent fee income 116.847 116,847 43,847 43.847 4. Costs of Charitable Activiti 2024 2023 nrestricted Funds General Unrestricted Funds General Total Funds Total Funds ram Costs Lecturers and tutor costs Direct course costs Program director costs 55,815 9,979 29,385 55,815 9,979 29,385 27.087 4,901 15.779 27,087 4,901 15,779 95,179 95,179 47,767 47,767 None of the costs shown aEK)ve were met from the Designated Funds (2023.. £nil)
CLAST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31- JULY 2024 5. Other Su ort Costs 2024 2023 Unrestricted Fllnds Gener21 Unrestricted Funds General Total Funds Tot21 Funds Gener21 Course Development Advertising, markcting & ¢xhibitions Meeting expenses Administrator's costs Independent examiner's fee5 Professional indemnity insurance Printing, Postage, Stationery and Computer Costs Bank ¢harges 15,118 1,421 450 15.118 1.421 450 1,254 3.985 810 885 1.632 2.209 1,254 3,985 810 885 1,632 2,209 1.200 2.412 1,200 2.412 276 40 276 40 240 35 240 35 20,917 20,917 11.050 11,050 None of the costs shown above were met from the D¢si8nated Funds (2023 £nil)- 6. Transfers between funds £30,000 was transferred back to urirestricted general fijnds in 2023, by m¢ans of a tTan5fcr. There were no such transfers in 2024. 7. Staff Costs The Charity has no paid employees. 8. Net Ex enditure for the Period 2024 2023 The 5urplu5 of expenditure over income Is stated after ebarging: Independ¢nt examiner's fees, incl. irrecoverable VAT Bank interest 8nd charges 1,200 40 1.632 35 9. Debtors 2024 2023 Student fee debtors Prepayments & accrued income 1,966 1,375 1.966 1.375 10. Creditors: Amounts Fallin Due in One Year 2024 2023 Other crcditors and accruals Deferred income 21,945 2,600 6,899 4,587 24.545 11.486
CLAST NOTES TO THE FINANCIAL STATEIVIENTS FOR THE PERIOD Ef4DED 31- JULY 2024 ii. Ullrestricted Funds- General Movement in Resources Balance Incomin 01108123 & Transfs oin & Transfs 31107124 Unrestricted Funds - General Funds 26.471 116,847 116,096 27,222 12. UrtrICted Funds- Desi nated Movement in Resources Ineomin 01108123 & Transfs oin & Transfs Balance 31107124 Fund for online course development 13. tal Fund Movements Movement in Resources Incomin Out oin Balance LS Balance 01108123 & Transfs & Transfs 31107124 General Funds Designated Funds 26,471 116,847 116.096 27,222 26,471 116,847 116,096 27,222 14. RecoDeiliation of Movement in Shareholders, Funds College of Laboratory Animal Science and Technology, being a eharitable incorporated organisation, has no shareholders; it is. therefore. inappropriate to include a reconciliation of the movements in shareholders, funds. 15. Anal sis of Net Assets between Funds Boih unrestricted fund categories-general and designated-are wholly rcpresented by n¢t¢utTentassets. 16. Commitments In the opinion of the Trustees, there w¢r¢ no outstanding capital commitments at 31 St July 2024. 17. Trustees, Ex enses None of the Trustees received expenses or fees; o¢¢asional cost reimbursements are made lo the Trustees where they have incurred expenditure on behf of the Charity.