Company registration number.. 09772680 Charity registration number.. 1164350 The Ferne Animal Sanctuary IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2022
The Ferne Animal Sanctuary Contents Trustees, Report 1 to9 Statement of Trustees, Responsibilities 10 Independent Auditors, Report 11 to14 Statement of Financial Activities 15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the Financial Statements 18to36
The Ferne Animal Sanctuary Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the twelve-month period ended 31 March 2022. The accounts have been drawn up in compliance with the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1st JanLJary 20191 and in accordance with the charity s Trust Deed. Highlights of the year 2021122 proved lo be another challenging year, the team have continued to work effectively lo balance rising costs during these unprecedenl limes and rally together, with the help of our generous supporters to sustain our income streams. Growth has been the focus of the charity this year as the charity successfully opened a fourth charity shop in Ilminster. The retail team have worked tirelessly to set up the new shop and we are grateful for the local support from the Ilminster community. The charity has also embarked on introducing our new tilling system in the Visitor Centre and the Chard Charity shop, allowing the charity lo access valuable funds through Gift Aid, through donated goods and through entry to the Sanctuary. The team and our volunteers have all undergone additional training and embraced the new systems. In the 2021122 year we have continued lo invest in the visitor exhibits and with the help of a local artist Fon Cosens have created a Living Willow Exhibit representing the Five Freedoms for animals. This exhibit supports the charills core mission to raise awareness of animal welfare and the needs of all animals. As trustees we recognise the hard work and dedication of the staff al Ferne, and we thank everyone for their passion and dedication to the Sanctuary and our animals. We also thank our incredible volunteers who without them we would not be able lo deliver the services we provide. Sadly, we said goodbye lo Elaine Hayes, our CEO, who has moved on lo an exciting new challenge, we therefore wish lo thank Elaine for her support and leadership during her time at Ferne. We would also like to thank Emma Purnell for slepping-in as Acting CEO and the Senior Management Team whilst recruitment for a new CEO is underway. Objects and Alms Background The charity was established to carry on the work started in 1939 by Nina, Duchess of Hamilton and Brandon, al her home on the Ferne Estste near Sh8ftesbury, Dorsel, to provide temporary shelter for the animals of people who were going away lo war. Sadly many did not return and the Duchess ensured that their animals were cared for throughout the rest of their lives. The demand for re-homing did not diminish after the war and eighty years later the need continues. Established under 8 Trust Deed dated 6th October 1965, the charity moved lo ils present site near Chard in 1975 and was incorporated as a charity and company limited by guarantee in September 2015. The Ferne Animal Sanctuary I"Ferne'l provides care and refuge for unwanted domestic and farm animals. Ferne looks after any animal that is surrendered lo us until it is either re-homed or (depending on circumslancesl remains al the Sanctuary for the rest of its natural life. Pag8 1
The Ferne Animal Sanctuary Trustees, Report The charity continues to care for 300 long-term residents at the Sanctuary, many wth complex medical and psychological needs. Feme also re-homes dogs and cats within 8 40- mile radius subject to an approved home check. The charity offers on-going support to adopters with advice on training and behaviour and, should an unexpected change occur in an adopter's life which results in them being unable to continue lo offer the animal a home, the animal is guaranteed a place at Feme. The Sanctuary also provides financial aid to adopters of animals for treatment of on-going medical conditions where owners are undergoing periods of financial hardship and for animals with pre-exisling conditions that won't be covered by pet insuran. Wision A world where people respect animals and treat them with compassion. Mission To be a centre of excellence for animal care and rehabililalion through education, support and re-homing. Our strategic objectives The care for unwanted and abandoned animals remains at the heart of charities focus. To improve the welfare of animals through changing people's behaviour To expand our operation lo ensure we can meet the needs of the growing number of animals surrendered lo us To maximise re-homing opportunities for all animals surrendered to our care To provide the knowledge and skills the staff and volunteers need lo carry out their roles effectively To maintain our policies and practices to ensure th8 long-lerm financial suslainabilily of the charity To fundraise effectively to deliver our strategy Core values Respect and compassion for people and animals Excellence in all we do Empowerment Sharing knowledge, improving skills Educating and informing Working in partnership Pag8 2
The Ferne Animal Sanctuary Trustees, Report Our Publlc Beneflt Who beneflts from the work that we do? 111 The charity's intended beneficiaries and priority are animals in need from across the Soulhwesl of England, but we are willing lo lake animals from further away providing we have a suitable space. 121 Due to the economic environment and the cost-of-living crisis, we are seeing a greater demand for surrendering animals due to suffering the impact of higher costs. 131 We take in animals that are surrendered by people who can no longer Cope for a wide variety of reasons.. bereavement, homelessness or changes to home life, and mental health. If we have a spa, we will lake an animal immediately otherwise we operate a waiting list and will lake an animal from the list On a space becomes available. 141 All animals surrendered lo our care will be assessed and given valuable rehabilitation. We ensure animals are retumed to the community only when we believe it is safe lo do so. How do we demonstrate ourpublic benefit7 During the year, the Sanctuary has continued lo run at capacity with limited places for emergency cases, and we rely on a wailing list for those animals in need. For dogs and cats all requests for asSiStsn are logged onlo our database and details about the mental and physical health of the animal recorded throughout their stay with us. We record and monitor the numbers of animals taken in and rehomed, and how long cats and dogs are in our care. These figures are shared with our supporters through our Annual Review. The Veterinary Support Fund continues to benefit the most serious cases. Each animal that is considered will have had a full evaluation lo assess what is in their best interests. We do not put a ceiling on the budget as cases for additional help cannot be predicted. In the year we support a number of animals., in the last year we have supported Boris who is now fully recovered from much needed suryery and settled into his forever home. Our education offer remains curbed following the pandemic, however we continue lo record the number of visitors who visit the Sanduary and we continue to deliver interactive trails, information boards, talks and special events. We have welcomed several school and nursery groups to the Sanduary offering a tsilored lour for the groups talking about animal care and welfare. We also introduced our living Willow exhibit offering information on the key five freedoms for animals. The charity committed to a new Education Strategy with learning outcomes linked lo the national curriculum for year one and two pupils. Our animal welfare policy objectives are delivered through membership of the Association of Dogs and Cats Homes and National Equine Welfare Council. Achievements are quantified through their annual report. Achlevements and Performance The trustees have six strategic objectives which guide our work over the period 2015-2025. Strategic Objectives S01- To improve the welfare of animals through changing people's behaviour During the year an education strategy was developed and approved, defining the key areas, and will be a focus area going foNard with the support of an Activities Officer. Our growth in digital content has continued to develop. We offer advice on relevant areas for owners and a focused weekly success story., our social media followers has increased with 17,000 followers. Pag8 3
The Ferne Animal Sanctuary Trustees, Report Our magazine continues to reach record number of households with our e-magazine seeing great take up. We welcomed our Equine Podiatry trainers back to the Sanctuary as well and Equine Sports and Massage Rehabilitation training, both of which has a core focus on behavioLJr and the individual needs of each horse. All training is open lo the public as well as our staff. We were able to conduct several outreach sessions, with Wl groups and several school visits, through assemblies. S02 To expand our operation to ensure we can meet the needs of the growing number of animals surrendered to us Our rehoming team have continued to deliver a fantastic service as we moved out of restrictions but still operating within the covid regulations. We are very grateful to the Association of Cats and Dogs Homes of which we are members for their regular and ad hoc bulletins that helped us keep animals and staff safe and well. During the year we re-homed 97 dogs, 140 cats and 8 horses. We have continued to see an increase in the number of dogs who have been poorly socialised. To ensure the dogs re1ve the best care lo support the training and development of the rehoming team, we have engaged the servi$ of a behaviourist to support with specific issues. This Servi has been offered lo adopters as well. This has slowed down the rehoming process however the team have developed unique training plans, tailored lo the individual dogs so the dogs can in turn go safely out into the community and find their forever home S03 - To maximise re-homing opportunities for all animals surrendered to our care The sector remains concerned over the number of people who took on a pel during the pandemic, and the future impact to families from the cost-of-living increases in the year ahead. Our work on digitalising the rehoming process has been fully implemented and we are able to match potential adopters and animals more effectively. Where necessary we have undertaken national campaigns and widened our adoption radius lo ensure our dogs have the best opportunity lo find their forever home. S04 - To provlde the knowledge and skllls the staff and volunteers need to carry out thelr roles effectlvely During the year we have embarked on reintroducing face to face training for the team and volunteers. Whilst core mandatory training, such as Health & Safety and First Aid have been delivered, we have also offered development opportunities for stsff across all teams. We have provided enhanced training to our kick-starters who have been a valuable resource lo the Sanctuary, with specific training designed for their roles and we are delighted that four of our kick-starters have secured positions within the Sanctuary. We are also pleased lo have reinlroduclion, post Covid, our Compassion Fatigue training, which is vital for our animal care team and volunteers. S05 - To maintain our policies and practices to ensure the long-term financial sustsinability of the charity Ferne Continues to comply with all its legal responsibilities as required by the UK government and the Charity Commission. All poliryes and procedures are reviewed annually in line with our own guidan. During the year the Iruslees were able to resume face lo face quarterfy meeting al the Sanctuary. Pag8 4
The Ferne Animal Sanctuary Trustees, Report We reviewed our financial ProsseS in line the with Charity Commission guidance as part of a routine review. S06 - To fundralse effectlvely to dellver our strategy Post pandemic we have redefined our fundraising priorities with a focus towards digital campaigns lo broaden our support base. As well as digital fundraising we have introduced a specific online sales role with a focus on growing online sales. We continue lo apply for funds through Grants and Trust Applications, which provides a valuable resource lo the Sanctuary, and we are incredibly grateful for their continued support. We have also been overwhelmed by the support of our community fundraisers who undertaken various sponsored events to raise funds for Ferne. Legacies remains a core income stream for the Sanrtuary and enables us to support as many animals as possible we are thankful to all who have thought of us in their wills. Since the pandemic and post lockdowns our Charity Shops have seen strong trading results and we were fortunate to be able lo expand our operations and open fourth charity shop back in the town of Ilminsler. Visitors to the Sanctuary provide a valuable source of income lo Ferne, which has been bolstered by the introduction of EPOS and the ability lo apply for Gift Aid for Visitor passes. Public Relation$ Our social media profile conlinLJes to grow, and while we remain active on Facebook, Instagram and YouTube, we have a growing number of follows after joining TikTok, with short animal videos and reviving our presence on Linkedin. Feme is commilled lo raise ils profile within CLJrrent and potential SLJPPOrters and building on our history and links with the armed forces. Financial Review The Finance and General Purposes Committee continued to meet quarterly two weeks prior to the main board meeting, their main objective is lo scrutinise the financial performance of the Sanctuary and make recommendations to the main board on improvements to policies, performance, and cash flow forecasts. Investments During the year trustees receive quarterly updates on the Performan of Ferne's investments and have a¢$S through an on-line portal. Rathbones Investment Management Ltd manages our investment portfolio on a discretionary basis and there is a Client agreement in place. Trustees meet with Rathbones for an annual review of performance. Our fLJnds are managed primarily to produce a balance between income and capital growth over the long term {10 years+l the risk rating was reviewed during the year and a medium level risk was maintained. This medium level of risk gives a weighting of between 14-240/0 in liquid assets, between 60-74/0 in equity type assets and between 11_160/o in diversifiers and is the basis for management of the portfolio. In addition, to further mitigate risk to the portfolio, we would not hold more than 50/0 in any one direct equity. The annual growth of our investments has been hampered by the global economic downturn in Q4 of the financial year, seeing the annual growth of £14k. Pag8 5
The Ferne Animal Sanctuary Trustees, Report Reserves The Iruslees have reviewed the resetves policy and have, in line with Charity Commission guidance, considered the level of resetves needed. The Iruslees believe that the level of resetves is proportionate to the needs of the charity and reflects the significant costs and difficulties the charity would face in re-homing the Sanctuary animals, many of whom have long lemi mental and physical health problems, should the charity be dissolved. The trustees aim to maintain 'free' reserves in unreslricled funds at a level which equates lo twelve months unrestricted expenditure. With careful cashflow planning and thanks to the generous donations from our supporters we have, been able lo maintain our reserves position and this will enable us lo continue lo deliver our objects. As we move forward post covid we will continue to work on maintaining a strong reserves position. Al the year end, the charity had 'free' reserves of £ 1,059,88812021 £1,044,334). Restricted funds this year amounted lo £1,283,649 {2021 £1,294,068). Designated funds The trustees recognise the long term requirement and sustsined investment required al the Sanctuary and have taken a prudent approach lo use designated funds in a measure way through this challenging year, with £10.5k being invested during 2021122. We have invested in creating Fernhenge further building on our educational offer and bringing a home for bugs at the Sanctuary- this project should be in place al the Sanctuary in time for the summer holidays. We were also able to complete the final elements lo the Willow Exhibit. We opened a fourth charity shop in Ilminster in Dember 2021, which has been highly welcomed by the local community. Work on the remaining projects will commence over the course of the next financial year. The funds are detailed below.. Fund Rationale Amount Designated Total investment Timing of to 31 March 2022 expenditure Maintaining the general infrastructure of the site is expensive and constant. Fixed Asset Investment Fund £75,000 £75,000 2018-2023 Cattery Refurbishment Fund Separate large project. £100,000 £5,627 2018-2023 Modest investment lo lake the next step. Fundraising additional costs for the new strategy. Equine Centre Feasibility Study £15,000 2018-2023 Capacity building Fund £50,000 £35,607 2019-2023 Totals £240.000 £116,234 Remaining balance as at 31 March 2022 £123,766 Pag8 6
The Ferne Animal Sanctuary Trustees, Report Risks Our Major Risks Register was reviewed at each full board meeting by the Iruslees. It identifies risks in all areas across the Sanctuary and suggests mitigating strategies for reducing those risks. We have updated the Risk Register to include the risk of increasing energy costs, as well as our water management infraslruclure. Although we gained Cyber Essentials Accreditation in the year the risk rating for Cyber risk has not been downgraded. Pensions During 2016 Ferne established a stakeholder pension scheme for all qualifying staff in full compliance with the aulo-enrolment duties as reqLJired by the Pensions Regulator. The scheme is a mid-range product that reflects our desire lo ensure that our staff can prepare effectively for their retirement. During the year the Sanctuary fulfilled its duties including our cyclical reenrolments, we currently have 38 number of employees enrolled in the scheme Structure, Governance and Management The Board of Trustees meets regularly, a minimum of four limes a year, and agrees the broad strategy and areas of activity for the charity, including care and welfare of the animals, consideration of investment, reserves, fundraising, risk management policies and perfomiance. The Board delegates responsibility for financial monitoring lo the Finance and General Purposes Committee. This committee also helps with the drafting and review of policies,. all policies formulated go forward lo the full Board for final review and approval. The Board also has two further sub-committees dealing with fundraising and health and safety. All sub-committees meet quarterfy and feedback lo the main Board meeting through their respective Chairperson. During the 2021122 year Feme welcomed two new trustees with expertise in finance and human resour$, and three trustees resigned. We are currently undertaking a recruitment exercise for new trustees. The responsibility for day-lo-day management of the charity is delegated to the Chief Executive and then lo the Senior Management team. The wort( of the Sanctuary is structured and delivered through the annual business plan that is directly aligned lo the strategic objectives of the charity. The business plan has measurable key performance indicators for each work area and these ar8 cascaded down through teams lo individuals through the annual review process. Recruitment, Induction and Training of Trustees All new trustees receive a full induction and joining pack,. new trustees are required to complete basic trustee training in govemance, learn about good financial management and spend a day working in different sections learning about animal care at the Sanctuary. Remuneratlon of Staff No member of staff earns in excess of £60,000 per annum. The Sanctuary undertakes a salary benchmarking exercise every three years lo ensure that the salaries offered lo staff are in line with similar-sized charities and the region as a whole. Pag8 7
The Ferne Animal Sanctuary Trustees, Report Reference and Administrative Details Trustees Mr R A O'connor, Chair Mrs J Airey-Regardsoe (resigned 31 May 20211 Mr D Cook Mr M Ellis (resigned 16 June 2021) Mr R Fuller lappoinled 24 June 20211 Mrs S C Hannay (resigned 1 March 2022) Mrs S A Minden Wilson lappoinled 24 June 2021 and resigned 1 March 2022) Ms J Souter lappoinled 24 June 2021 and resigned 5 November 20211 Ms V Stiff (appointed 15 Dernber 20211 Mr K Hodges lappoinled 2 November 20221 Senlor Management Team Miss E Hayes, Chief Executive Officer ICEO,. resigned February 20221 Ms E Purnell, Finance Manager Ilnterim CEO) Miss N Haddock, Animal Care Manager Mr J Pott, Estates Manager Principal Office Wambrook Chard Somerset TA20 3DH The Charity is incorporated in England & Wales. Company Registration Number 09772680 Charity Registration Number 1164350 Bankers Lloyds Bank PLC 27 Fore Street Chard Auditor PKF Francis Clark Blackbrook Gale 1 Blackbrook Park Avenue Taunton Somerset TA12PX Pag8 8
The Ferne Animal Sanctuary Trustees, Report Disclosurg of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and lo estsblish that the charity's auditor is aware of that information. The trustees confirm that there is no levant information that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 22 November 2022 and signed on its behalf by.. Do¢uSlgn•d by.. Mr R A O'connor Trustee Pag8 9
The Ferne Animal Sanctuary Statement of Trustees, Responsibilities The trustees (who are also the directors of The Ferne Animal Sanctuary for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordan with the United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slatemenls, the Iruslees are required lo.. select suitsble accounting policies and apply them consislenlly., observe the methods and principles in the Charities SORP-, make judgements and eslimales that are reasonable and prudent; stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Iruslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 10
The Ferne Animal Sanctuary Independent Auditor's Report to the Members of The Ferne Animal Sanctuary Opinion We have audited the financial statements of The Ferne Animal Sanctuary (the 'charitable company'l for the year ended 31 March 2022, which comprise the Slalement of Financial Activities, Balan Sheet, Statement of Cash Flows, and Notes to the Financial Stalemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally A¢pIed Accounting Praclicel. In our opinion the financial statements.. give a true and fair view of the stale of the charitable companls affairs as at 31 March 2022 and of its income and expenditure for the year then ended., have been properly prepared in ac¢ordan¢e with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page11
The Ferne Animal Sanctuary Independent Auditor's Report to the Members of The Ferne Animal Sanctuary Other inforniation The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial slalements does not cover the other information and, except lo the exlenl olhetwise explicitly slated in our report, we do not express any fom) of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on othgr matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial ststemenls- and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of Iruslees remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities (set out on page 10), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraLJd or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charitsble company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or lo cease operations, or have no realistic alternative bul to do so. Page 12
The Ferne Animal Sanctuary Independent Auditor's Report to the Members of The Ferne Animal Sanctuary Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslalement when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, including fraud, are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is detailed below.. As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the charitable company. We gained an understanding of the industry in which the charitable company operates as part of this assessment lo identify the key laws and regulations affecting the charitable company. As part of this, we reviewed the company's website for indication of any regulations and certification in place and discussed these with the relevant individuals responsible for compliance. The key regulations we identified were DEFRA animal protection legislation and Food Standard Agency regulations, as well as health and safely regulations, tax legislation and breaches of The General Data Protection Regulation I"GDPR"l- We also Considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011. We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the charitable company s ability lo continue operating and the risk of material misstatement lo the accounts. Based on this understanding we designed our audit procedures lo identrfy non-compliance wth such 18ws and regulations. Our procedures involved the following.- Enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial stalemenls. Reviewing the charitable companys GDPR policy and enquiries of management as to the Occurren and outcome of any reportable breaches. Reviewing the Information Commissionerfs Office IICOI website for any enforcement actions or decision notices impacting the charitable company. Reviewing legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance. As part of our enquiries, we discussed with management whether there had been any instances of known or alleged fraud, of which management confirmed there were none. We assessed the susceptibility of the financial slalemenls lo material misstatement through management override or fraud, including in relation lo income and expenditure, and obtained an understanding of the controls in place to mitigate the risk of fraud. We also evaluated management's inntiveS and opportunities for fraudulent manipulation of the financial statements. Based upon our understanding we designed and conducted audit procedures including.. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Page 13
The Ferne Animal Sanctuary Independent Auditor's Report to the Members of The Ferne Animal Sanctuary Reviewing eslimales and judgements made in the accounts for any indication of bias and challenged assumptions Ljsed by management in making the estimates. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a material misstatement in the financial stalemenls. This risk increases the further removed non-compliance with laws and regulations is from the events and tr8nsactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not delecling one resulting from error, as fraud may involve deliberate concealment. collusion, omission or misrepresentslion. A further description of our responsibilities is available on the Financial Reporting Council's website al.. www.frc.org.uklauditorsresponsibilities. This description forms part of our audilorfs report. Use of our report This report is made solely lo the Charitable company's trustees, as a body, in acwrdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable companls Iruslees those matters we are required lo stale to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not ac¢epl or assume responsibility lo anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. Martin Hobbs Bsc ACA (Senior Slatulory Auditor) PKF Francis Clark, Stslulory Auditor Blackbrook Gale 1 Blackbrook Part( Avenue Taunton Somersel TA1 2PX 24 November 2022 Page 14
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The Ferne Animal Sanctuary (Registration number: 09772680) Balance Sheet as at 31 March 2022 2022 2021 Note Fixed assets Intangible assets Tangible assets Investments 13 14 1,798 3,872,627 1 135337 2,764 3,924,422 1,121,031 5,009,762 5,048,217 Current assets Stock Debtors Cash at bank and in hand 29,570 188,085 233 827 25,117 143,728 323,644 17 18 451,482 492,489 Creditors: Amounts falling due within one year 19 108 694 Net current assets 317480 383,795 Total assets less current Ilabllltles 5,327,242 5,432,012 Creditors- Amounts falling due after more than one year 20 Net assets 170833 220 833 5 156409 5,211,179 Funds of the charity: Restricted income funds Restricted funds 1,283,649 1,294,068 Unrestricted income funds Unrestricted funds 3 872 760 3,917,111 Total funds 23 5 156409 5,211,179 The financial slalements on pages 15 to 36 were approved by the Iruslees, and aulhorised for issue on 22 November 2022 and signed on their behalf by.. Docu8b3Mdty. onnor Trustee The notes on pages 18 to 36 fomi an integral part of these financial statements. Page 16
The Ferne Animal Sanctuary Statement of Cash Flows for the Year Ended 31 March 2022 2022 2021 Cash flows from operating activities Net lexpenditurellincome 154,7701 159,531 Adjustments to cash flows from nOna$h items Depreciation Amortisalion Loss on disposal of fixed assets held for the charity's own use Investment managers fees paid from investment portfolio Investment return retained by investment managers 130,172 966 {1251 8,281 122,5871 61,937 124,177 161 6,126 1182,4211 107,574 Worklng capltal adlustments Ilncrease}Idecrease in stocks Ilncrease)Idecrease in debtors Increaselldecrease) in creditors 14,4531 144,3571 4,475 939 122,603 115,5661 Net cash flows from operating activities 17,602 215,550 Cash flows from investing activities Purchase of intangible fixed assets Purchase of tangible fixed assets Sale of tangible fixed assets Cash paid into investment portfolio Proceeds from new loan 12,9251 158,8491 178,3771 125 1300,0001 250,000 Net cash flows from investing activities 178,2521 1111,7741 Cash flows from financing activities Repayment of loans and borrowings Net Idecreasellincrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 29,167 189,8171 323,644 103,776 219,868 233,827 323,644 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 18 to 36 fomi an integral part of these financial statements. Page 17
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 1 Company status The Ferne Animal Sanctuary is a registered charity and a company limited by guarantee without share capital incorporated in England & Wales. The guarantors are the members of the charity lo the extent of £1 each. The address of ils registered office and principal place of business is.. Wambrook Chard Somersel TA20 3DH 2 Accounting policies Summary of slgnlflcant accountlng pollcles and key accountlng estlmates The principal accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all the years presented, unless otherwise slated. Statement of compllance The financial statements have been prepared in accordance with Accounting and Reporting by Charities-. Ststemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019) - (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Ferne Animal Sanctuary meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Basis of preparation These accounts have been prepared using the historical cost convention, except that, as disclosed in the notes, certain items are shown at fair value. The Charity is exempl, by virtue of s402 of the Companies Act 2006, from the requirement to prepare group financial slalemenls as the exclusion of ils subsidiary undertaking is not material for the purposes of giving a true and fair view. These financial statements present information about the charity as an individual undertaking and not about its group. The financial statements are prepared in pounds sterling, which is the functional currency of the charity. Page 18
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Going Concern The financial statements have been prepared on a going concem basis. In making their going concem assessment, and as described in the Trustees, Report, the trustees have given consideration to the charitable companls financial position and resour$. Having made all necessary enquiries, and having taken all steps that they ought lo have taken, the trustees are satisfied that the charitable company will continue to meet ils liabilities as they fall due, and are satisfied that the charitable company will continue lo operate with sufficient cash headroom for a period of at least 12 months (from the dale of approval of these financial slatemenlsl. Key judgements and sources of estimation uncertainty In the application of the charity's accounting policies, the Iruslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgements and estimates that the trustees have made in the process of applying the charity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. The key judgement that has a significant impact on the financial statements is in respect of going concern, as described above. Key management personnel are considered to be the trustees and senior management team. The trustees are not remunerated. The key estimates that have a significant effect on the amounts recognised in the financial statements are described below.. Legacies are accrued in the accounts when the charity has entitlement lo the income, it is probable that economic benefit will flow lo the charity and the amount of the receipt can be measured with sufficient reliability. This requires estimation by the Iruslees. The carrying amount at 31 March 2022 is £112,80812021 - £80,377). Page 19
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Income and endowmgnts All incoming resources are recognised when their entitlement, certainty and measurability have been established. The charity relies on the goodwill and dedication of volunteers for much of ils work, covering both ils fundraising and animal care activities. In accordance with the Charities SORP IFRS 1021, the valuation of serVIS provided by volunteers has not been included in the statement of financial aclivilies. Goods donated for resale are included as 'income from other trading aclivilies. upon sale of the goods. Income of £177,283 12021 £87,585) has been recognised in respect of goods donated for resale during the period. Goods donated for use by the Charity are recognised in 'donalions and legacies. at their fair value at the lime of receipt. Income of £4,712 12021 £4,231> has been recognised in respect of goods donated for use during the period. Legacies. including those subject to a life interest held by another party, are included in the accounts when the cash is received or when the charity is notified by solicitors of their entitlement to a legacy and the monetary value can be measured with sufficient reliability. Income generated from admission fees, charity shop sales and restsurant Sales is recognised on a receivable basis. Donations are recognised on a receivable basis. The tax reclaimable by the charity on investment and income donated under Gift Aid has been recognised al the same time as the income from which the lax refund was derived. Expenditure Expenses are recognised when they fall due. All expenditure is accounted for on an accru81s basis. Expenditure is classified under the following headings.. Costs of raising funds comprise the costs of trading including the charity shops, gift shops, and restaurant, fundraising and marketing costs and investment management fees. Expenditure on charitable activities represents the cost of animal care and its associated support costs. Government grants Grants are recognised when the charity has an enlillemenl lo the funds and any conditions linked lo the grants have been mel. When perfomance conditions are attached lo the grant and are yel to be mel, the income is recognised as a liability and included on the balance sheet as deferred income lo be released. Page 20
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Taxation The charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. Intangible assgts Intangible fixed 8ssels are initially recorded at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Amortisation Amortisalion is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows.. Asset class SofbNare and website costs Amortlsatlon method and rate On a straight line basis over 3 years Tangible fixed assets Tangible fixed assets are initially recorded al cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible fixed assets includes directly allributsble incremental costs incurred in their acquisition and instsllalion. Depreciation and amortisation Depreciation is provided on tangible fixed assets, except land and assets under construction, so as lo write off the cost or valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Asset class Freehold property Furniture and equipment Motor vehicles Computer equipment Solar panels Depreciation method and rate On a slraighl line basis over 50 years On a straight line basis over 5 years On a slraighl line basis over 5 years On a slraighl line basis over 3 years On a straight line basis over 15 years Fixed asset investments Fixed asset investments are included at market value at the balan sheet date. Realised gains and losses on investments are calculated 8$ the difference between sales proceeds and their market value at the start of the period, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the period and are credited or charged to the Statement of Financial Activities based on the market value at the period end. Investments in subsidiaries are measured at cost, less any subsequent provisions for impairment. Page 21
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Stock Stock is valued at the lower of cost and net realisable value, being selling costs less costs to sell. Animals rescued are considered to have no value since they are not bought or sold but rehomed for a nominal donation to cover costs. Second hand goods donated for use by the charity are not valued as stocks since their valuation cannot be reasonably determined. The income from the sale of second hand donated goods is recognised when the goods are sold. Fund structure Unreslricled income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those given for a specific purpose as laid down by the donor. Donors are normally either charitable organisations or private individuals. Expenditure that meets the criterion of the donor is charged to the restricted fund- often the expenses are for the purpose of improving the propety or purchasing equipment. Defined contribution pension obligations The charity operates a defined wntribulion pension scheme for eligible staff. Contributions are recognised in the Statement of Financial Activities in accordance with the rules of the scheme. Pension contributions are allocated in full against unreslricled funds. Financial instruments ClassifiTcation The charity holds the following financial instruments.. Investments in publicly traded shares., Short lemi trade and other debtors and creditors., Bank loans., and Cash and bank balances. Al financial instruments are classified as basic. Page 22
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Recognition and measurement Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights lo cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred lo another paty, or in the case of liabilities, when the Charitys obligations are discharged, expire or are cancelled. Investments are included at market value at the balance sheet dale, as discussed in the fixed asset investments policy above. Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried al amortised cost using the effective interest method. Other financial instruments are initially measured at transaction price, including transaction costs, and are subsequently carried al the undiscounted amount of the cash or other consideration expected lo be paid or received, after taking account of impaimient adjustments. 3 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Donations and legacies., Gift aid donations and covenants Cash donations Legacies Grants, including capital grants., Business Support grants Coronavirus Job Retention Scheme Other grants received Other grants and donations - restricted 67,811 81,691 654,602 67,811 81,691 654,602 70,309 5,373 29,875 70,309 5,373 29,875 17,636 17,636 Total for 2022 909,661 17,636 927,297 Total for 2021 1,023,421 33,201 1,056,622 Page 23
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 4 Income from charitable activities Unrestrlcted funds General Total funds Animal homing income Live-in staff services contributions 41,752 7,269 41,752 7,269 Total for 2022 49,021 49,021 Total for 2021 41,429 41,429 5 Income from other trading activities Unrestricted funds General Total funds Trading income., Charity shop sales Restaurant sales Fundraising income Pet insurance income Admission fees Solar energy feed in tariff Rental income 209,247 51,398 16,984 11,510 65,397 3,792 6,720 209,247 51,398 16,984 11,510 65,397 3,792 6,720 Total for 2022 365,048 365,048 Total for 2021 182,250 182,250 6 Investment Income Unrgstrictgd funds General Total funds Dividends receivable from listed investments Bank and investment interest re1vable Realised gains on fixed asset investments Unrealised losses on fixed asset investments 21,626 18 4,166 3,143 21,626 18 4,166 3,143 Total for 2022 22,667 22,667 Total for 2021 182,522 182,522 Page 24
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 7 Expenditure on raising funds a) Costs of generating donations and legacies Unrestricted funds General Total fund$ Fundraising and marketing 207,340 207,340 Total for 2022 207,340 207,340 Total for 2021 193,522 193,522 b) Costs of tradlng actlvltles Unrestricted funds General Total funds Charity shop expenses Restaurant costs 204,891 80,515 204,891 80,515 Total for 2022 285,406 285,406 Total for 2021 225,414 225,414 e) Investment management Costs Unrestricted funds General Total funds Fees payable to investment managers 8,281 8,281 Total for 2022 8,281 8,281 Total for 2021 6,127 6,127 Page 25
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 8 Expenditure on charitable activities Unrestrlcted funds General Restricted funds Total funds Staff costs Depreciation, amorti'salion and other similar costs Other costs 785,225 102,902 1,594 785,225 130,957 1,594 28,055 Total for 2022 889,721 28,055 917,776 Total for 2021 850,174 28,055 878,229 Actlvlty undertaken directly Actlvlty support costs Total 2022 Total 2021 Animal Care 541,238 376,538 917,776 878,229 Expenditure on charitable activities in the prior year comprises £519,498 of activities undertaken directly and £358,731 of support costs. 9 Analysis of support costs Support costs allo¢atod to charitablg a¢tivitlgS Premises costs Govemance Information Administration including costs technology costs depreciation Total 2022 Total 2021 Animal Care 11,708 23,003 118,544 223,283 376,538 358,731 Page 26
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 10 Net incomelexpenditure Net lexpendilurellincome for the year includes.. 2022 2021 Amount expensed in respect of operating leases Auditors remuneration - audit fees Auditors remuneration - tax advisory services Auditors remuneration - other services Profil on disposal of fixed assets held for the charitvs own use Depreciation of fixed assets Amortisalion of software 30,250 7,400 110 3,500 11251 130,172 966 30,309 7,250 3,980 124,177 161 11 Trustees remuneration and expenses No trustees received any reimbursed expenses from the charity during the year12021 None). No trustees, nor any persons connected with them, have received any remuneration from the charity during the period. No trustees have reiVed any other benefits from the Charity during the year. 12 Staff costs The aggregate payroll costs were as follows.. 2022 2021 Staff costs durlng the year were: Wages and salaries Social security costs Pension costs Compensation payments 725,416 48,633 11,176 682,764 45,228 10,954 12,165 785,225 751,111 Page 27
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 The monthly average number of persons {including senior management team) employed by the charity during the year was as follows= 2022 No 20 2021 No 20 Animal care Estates Fundraising and marketing Ferne shop & Visitor Centre Restaurant Charity shops Human Resources and Administration 50 51 No employee received emoluments of more than £60,000 during the year. 13 Intangible fixed assets Software and website costs Total Cost Al 1 April 2021 12,976 12,976 Al 31 March 2022 12.976 12,976 Amortisation Al 1 April 2021 Charge for the year 10.212 966 10,212 966 Al 31 March 2022 11,178 11,178 Net book value Al 31 March 2022 1,798 1,798 Al 31 March 2021 2,764 2,764 Page 28
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The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 15 Fixed asset investments 2022 2021 Shares in group undertakings Other investments 1,135,336 1,121,030 1,121,031 1,135,337 Other investments 2022 2021 Listed investments Cash held for investment 1,057,876 77,460 1,022,705 98,325 1,135,336 1,121,030 Listgd invgstments Cost or Valuation Al 1 April 2021 Revaluation Additions Disposals 1,022,706 151,2871 101,443 114,9861 Al 31 March 2022 1,057,876 Net book value Al 31 March 2022 1,057,876 Al 31 March 2021 1,022,706 Investments are included in the balance sheet al open mid-market value as provided by Rathbones Investment Managers. The portfolio consists of UK shares and securities quoted on the London Stock Exchange. Page 30
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Details of undertakings Detsils of the investments in which the charity holds 20Q/o or more of the nominal value of any class of share capitsl are as follows.. Proportion of voting rlghts and shares held 2022 2021 Undertaklng Reglstered offlce Holdlng Subsidiary undertakings Ferne Trading Limited Wambrook, Chard, Somerset. TA20 3DH Ordinary shares 1000 The princip81 activity of Feme Trading Limited is that of a dormant company. The profit for the financial period of Ferne Trading Limited was £Nil and the aggregate amount of capital and reserves at the end of the period was £1. 16 Stock 2022 2021 Consumables Goods for resale 20,885 8,685 9,271 15,846 29,570 25,117 17 Debtors 2022 2021 Trade debtors VAT recoverable Prepayments Accrued income 16,788 10,482 21,995 138,820 1,693 13,775 22,302 105,958 188,085 143,728 18 Cash and cash equlvalents 2022 2021 Cash at bank 233,827 323,644 Page 31
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 19 Creditors: amounts falling due within one year 2022 2021 Bank loans Trade creditors Other taxation and social security Other creditors AccrLJals 50,000 58,671 9,776 1,607 13,948 29,167 38,019 10,183 1,607 29,718 134,002 108,694 20 Creditors- amounts falling due after one year 2022 2021 Bank loans 170,833 220,833 The Coroanavirus Business Interruption loan is denomin8ted in sterling. Interest is payable monthly at a nominal interest fftte of 2.4501. + base 0.10/., beginning from the 13th month following inception of the loan, and with the final inslalmenl due on 6 August 2026. The carrying amount al year end is £220,83312021- £250,000). 21 Obligations under leases Operating lease Commitments Total futLJre minimum lease payments under non-cancellable operating leases are as follows.. 2022 2021 Within one year Between one and five years 39,400 42,928 26,400 74,661 82,328 101,061 22 Contingent assets Al 31 March 2022, the charity had been notified of its entitlement to eighteen 131 March 2021 eighleenl legacies where the amount of the payments is uncertain. As such, no income has been recognised in the accounts in respect of these legacies. Page 32
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 23 Funds Balance at 1 April 2021 Incoming resources Resources Balance at 31 expended March 2022 Unrestricted General funds Designated funds 3,782,851 134,260 1,346,397 11,380,254) 10,494 3,748,994 123,766 Total Unrestrlcted 3,917,111 1,346,397 11,390,748) 3,872,760 Restricted Rehoming centre Catlery and isolation unit Visitor centre Ferret House Equine rehabilitation centre Goose house Dog sensory garden The Montague-Panton Welfare Trust Co-operative- Polytunnel Catlery appeal Hatcher Animal Welfare Trust dog shelters The Norman Family Foundation Support adoption for pets Animal Rescue Foundation Hobson Charity Voles project Hayhursl Foundation Boris Appeal other restricted funds 297,757 114,213 94,070 9,200 20,881 7,204 24,422 16,6661 12,5641 12,0961 {2001 291,091 111,649 91,974 9,000 22,650 7,052 23,910 1,769 {1521 15121 657,855 3,046 12,323 114,9201 1631 11231 642,935 2,983 12,200 4,825 {1001 4,725 500 7,000 3,000 20,000 1,900 500 7,000 3,000 20,000 2,238 4,985 10,544 15,213 338 4,985 10,544 15,872 16591 Total restricted 1,294,068 17,636 128,0551 1,283,649 Total funds 5,211,179 1,364,033 11,418,803) 5,156,409 Page 33
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Balance at 1 Aprll 2020 Balance at 31 March 2021 Incomlng Resources resources expended Transfers Unrestrlcted funds General General funds 3,590,267 1,429,622 {1,235,1321 11.9061 3,782,851 Designated Designated funds 174,365 140,105) 134,260 Total unrestricted funds 3,764,632 1,429,622 {1,275,2371 11,9061 3,917,111 Restricted Rehoming centre Catlery and isolation unit Visitor centre Ferret House Equine rehabilitation entre Goose house Dog sensory garden The Montague-Panton Welfare Trust Co-operative- Polytunnel Catlery appeal Hatcher Animal Welfare Trust dog shelters The Norman Family Foundation Support adoption for pets Animal Rescue Foundation Hobson Charity Voles project Other restricted funds 304,423 116,777 96,166 9,400 16,666) 12,564) 12,096) 12001 297,757 114,213 94,070 9,200 20,881 7,356 24,934 20,881 7,204 24,422 11521 15121 670,869 3,109 12,446 114,920} 1631 11231 1.906 657,855 3,046 12,323 4,925 11001 4,825 500 7,000 500 7,000 3,000 20,000 1,900 801 3,000 20,000 1,900 15,872 15,730 659 Total restricted funds 1,287,016 33,201 28,055 1,906 1,294,068 Total funds 5,051,648 1,462,823 {1,303,2921 5,211,179 Page 34
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Restricted funds.. capital projects The rehoming cenlre, cattery and isolation unit, Visitor Centre, ferrel house, equine rehabilitation centre, goose house and dog sensory garden are all funds raised towards the cost of building work. The cost of this work is included in fixed assets in the balance sheet. The expenditure recognised against these funds is depreciation charged in the period and legal costs incurred in the financial year. The Monlague-Panton Welfare Trust fund represents grant monies awarded for the purchase of Monlague-Panton Farm together with capital projects on that land. Work on the capital projects completed in the 2019120 financial year and are included in the balance sheet. Subsequently, and in agreement with the fund providers, excess funds were transferred to unrestricted funds, lo be used for the wider objectives of the Sanctuary. Since 2020121, expenditure recognised against the reslricled fund is depreciation charged in the period. Restricted funds.. other Other restricted funds comprises funds received towards a number of specific, individual projects and appeals. For each fund, should the full purchase price of the project not be raised, a transfer is made from unrestricted funds. The carried forward balance is expected lo be ulilised in the financial year ended 31 March 2023. Designated funds In 2018, the trustees decided to set up a suite of designated funds in recognition of the long term and sustained investment that will be required in the Sanctuary over the coming years. Further details of these funds are given in the Trustees, Report. 24 Analysls of net assets between funds Total funds at 31 March 2022 Unrestricted funds General Designatgd Restricted funds Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year 1,798 2,687,308 1,135,337 229,386 1134,0021 170,8331 1,798 3,872,627 1,135,337 451,482 1134,0021 1170,8331 1,185,319 123,766 98,330 Total nel assets 3,748,994 123,766 1,283,649 5,156,409 Page 35
The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2022 Total funds at 31 March 2021 Unrestrlcted funds General Deslgnated Restrlcted funds Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year 2,764 2,735,753 1,121,031 252,830 1108,6941 1220,8331 3,782,851 2,764 3,924,422 1,121,031 492,489 1108,6941 1220,8331 5,211,179 1,188,669 134,260 105,399 Total nel assets 134,260 1,294,068 25 Financial instruments Categorlsatlon of financlal Instruments 2022 2021 Financial assets measured at fair value through profil or loss Financial assets that are debt instruments measured al amortised cost Financial liabilities measured at amortised cost 1,135,336 1,121,030 16,788 281,111 1,693 289,626 871,013 833,097 26 Rglatgd party transactions Transactions with the trustees are disclosed in Note 11. The amount of remuneration paid to the key m8nagemenl personnel of the Charity is £179,73212021 £192,663). There were no other related party transactions in either the current or prior period. 27 Charity status The charity is a company limited by guarantee and consequently does not have share capital. Each of the members is liable lo contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. Page 36