DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 2023
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Contents Trustees, Report 1 to 11 Statement of Trustees, Responsibilities 12 Independent Auditors, Report 13to16 Statement of Financial Activities 17 Balance Sheet 18 Statement of Cash Flows 19 Notes to the Financial Statements 20to38
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 Iwelve-month period ended 31st March 2023. The comparative information shown is for the 12-monlh period to 31 st 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 In April 2022, we welcomed a new CEO who has brought fresh perspectives and strategic insights lo the charity. This has been instrumental in shaping the future growth plans lo reduce the reliance on legacy income. Operational Successes: Our Board of Trustees approved a comprehensive new retail strategy growth plan. emphasising sustsinable expansion of our charity shop portfolio over the next five years. Updating the sanctuary facilities has been undertaken, improving our visitor experience, embracing the charills rich history. Through the dedication of the animal care team, we've positively impacted numerous animals, offering them shelter, veterinary care, and love. Our efforts have directly improved the lives of these animals in need. Our colleagues united to define our charity's core values.. Honesty, Inclusiveness, Kindness, Empathy, and Respect. These values serve as our guiding principles and are reflected in every aspect of our operations. We've developed a dedicated space at the sanctuary, Creative Corner that focuses on animal welfare education. Interactive displays engaging our younger visitors, promoting understanding and empathy towards animals. We've harnessed technology to advance our mission. This includes leveraging digital platforms for awareness campaigns and streamlined donor engagement. As we move forward, our focus remains on enhancing our sanctuary facilities, expanding our educational initiatives, and strengthening our collaborative efforts with the community. Pag8 1
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Objects and Alms Background Founded in 1939 by Nina, Duchess of Hamilton and Brandon, the charity originated as a response lo wartime challenges. Located on the Ferne Estate near Shaftesbury, Dorsel, the Duchess initiated a haven for animals of those affected by war. This legacy persists today. Over eight decades, our purpose endures. Under a Trust Deed from October 1965, wee grown. Relocating lo Chard in 1975, we became a registered charity and company in September 2015, solidifwng OLJr commitment. The Ferne Animal Sanctuary remains a refuge for unwanted domestic and farm animals. We shelter them until re-homing or, when needed. throughout their lives. Caring for over 300 long-lerm residents, we offer Sola for complex needs. Our re-homing initiative extends hope to dogs and cats, subject to thorough assessments. Our adoption pledge extends beyond initial commitment. If life changes, we offer continuity. We aid adopters facing medical challenges and pre-existing conditions. Our journey is leslament lo unwavering compassion and dedication. With each life we touch, the Ferne Animal Sanctuary embodies our legacy. Wision A world where people respect animals and treat them with compassion. Mission To be a ntre of excellence for animal care and rehabilitation through education, support and re-homing. Our strategic objectives The care for unwanted and abandoned animals remains at the heart of the charities focus. To improve the welfare of animals through changing people's behaviour To expand our operation to 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 the long-lerm financial suslainabilily of the charity To fundraise effectively lo deliver our strategy Core values Honesty, to be upfront and transparent with no hidden agenda. Inclusiveness, everyone's voice and input is valued. Only with open mindedness can we continue to grow and evolve valuing the individual. Kindness, being friendly, generous, considerate of others and their feelings. Pag8 2
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Empathy, we endeavour lo be able to put ourselves in someone else's situation especially in challenging limes and see things from their point of view, human or animal. Respect, lo be offered in all interactions with any living being. We all have different roles for a common goal. Our Public Benefit Who beneflts from the work that we do? Our charitys primary focus is to provide aid lo animals in need within the Southwest of England. We are committed lo this region bLJt remain open lo extending our reach to assist animals further afield, provided we have suitable accommodation available. This approach allows us to maximize the positive impact we can make for all animals in need. The prevailing economic challenges and the rising cost of living have led lo an increased demand for surrendering animals. As individuals face financial strain, we have observed a growing need for our seNices. We provide refuge to animals surrendered by individuals who can no longer care for them, and we do so for a wide array of reasons, including situations like bereavement, homelessness, changes in household circumstances, and mental health challenges. In cases where our facilities are available, we accept animals immediately. For those InStanS when we do not have immediate availability, we maintain a wailing list and take in animals from the list as s(x)n as space becomes open, ensuring that we support animals in need whenever possible. Every animal entrusted to our care undergoes a thorough assessment and receives invaluable rehabililalion. Vve are dedicated lo the safely and well-being of these animals, and they are returned to the community only when we are confident that it is safe and in their best interests. This Commitment underscores our unwavering dedication lo the welfare of the animals we setve. As part of our broader commitment to the welfare of animals, we actively engage in community education and outreach programmes lo promote responsible pet ownership, thereby furthering our mission to create a compassionate and caring society for all animals. How do we demonstrate ourpublic benefit? Case Study Ellie- Little Ellie a 7-year-old poodle x chihuahua came lo us weighing just 2kg, every bone in her body could be felt. Since her sign over lo us it came to light that she had been this thin for at least two years. A previous vel had flagged up concerns over her condition when presented with this little dog for a consultation regarding breeding her. The vet wanted to run blood tests, but the owner never took her back. Two years later, she was signed over to us. Ellie has been on a gradual re feeding programme to not overwhelm her organs and digestive system. She has been on a prescription gastroinleslinal diet, had a course of panacur to resolve any parasite burden or possible giardia infection. She had had a long course of steroids and antibiotics to try and resolve inflammation in her inleslines. Despite all this Ellie still cannot get used to the feeling of having food in her tummy and continuously tries to expel il as soon as she is fed lo the extent of partial prolapse every time. We have run fecal and blood lesls, carried out a full abdominal scan to rule out infection or evidence of anything more sinister that might cause this. All tests have come back negative. 11 would seem the extent of her food deprivation has caused more than physical harm to Ellie. Despite all this, now she has some energy, Ellie has her sparkle back, she has found her voice and is an absolute joy to have around. Pag8 3
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Case Study Rabblts: We recently took in a litter of 5 baby rabbits and their dad. Sadly, the rest of the kits in the litter and their mum had died. These babies were soaked in urine and underweight on arrival at the Sanctuary. One of them was very touch and go as lo whether she would survive. After some gentle feeding with appropriate f(iod, a clean environment and parasite control they have all pulled through. Once they were strong enoLJgh to be vaccinated, they were gently introduced to going outside and grazing while enjoying the sunshine on their backs. We will now have to gel them all neutered once they are old enough. Case Study Lumin: Lumin is an 8-year-old Irish Draughl Mare. After arriving with us through no fault of her own (her owner was badly injured by another horsel it became apparent that Lumin had some discomfort in her back and hind limbs. She had a subtle lameness that was extensively investigated resulting in a spinal x-ray which showed that Lumin had kissing spines. This is historically a much-dreaded diagnosis bul today, surgery is not uncommon and has a very good prognosis. Some of her vertebrae were leaning and her spinal processes touching where there should be a gap. Lumin has had these processes shaved down lo create a gap which following a lengthy rehab process should result in a pain free life for her and the possibility of being a ridden horse. The rehab journey we are now embarking on will take several weeks of bed rest followed by months of gradual build-up of gentle work lo build muscle that will support her back. Lumin has a very sweet nature and fully deserves every chance lo have a full and happy life. Achievements and Perfonnance 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 The activities offIr has embedded the delivery of our education strategy, introducing both weekly group sessions and daily activities aimed at raising awareness and understsnding of animal welfare. In March 2023, we introduced "Creative Comer," a dynamic space designed to offer animal welfare education through play-based leaming opportunities. We've hamessed the power of social media and awareness campaigns to further promote our message and engage with our community. The return of Equine Podiatry trainers and Equine Sports and Massage Rehabililalion training programs has significantly contributed lo our mission, as both emphasise the behavioural and individual needs of our equine residents. We have also opened our doors lo regular dog training courses, making this training accessible to the wider public. Extending our outreach efforts, we've conducted informative sessions at community halls, and hosted school visits lo raise awareness about the sanctuary. These outreach sessions, conducted through assemblies, have been instrumental in highlighting the significance of animal welfare and our charities historical connection to the community. Pag8 4
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report S02 To expand our operatlon to ensure we can meet the needs of the growlng number of anlmals surrendered to us In pursuit of our strategic objective lo expand our operation and accommodate the growing number of animals enlrusled to our care, we've made notable progress in several key areas.. Charity Shops.. Our 5 Year Retail Strategy was presented and approved by the Trustee Board in September. Subsequently, our first new store is due lo open in Yeovil from April 2023, along with a 6-monlh Pop-up store in Sidmouth. Our year began with strong performance at the Chard location, which not only generated a surplus but also benefited from a dedicated team of volunteers. While the Ilminster and Honilon branches also contributed lo our retsil surplus, they faced distinct challenges. Ilminster maintained a robust volunteer team, whereas Honilon struggled with attracting volunteers. We initiated trials for 7-day Sunday opening at both Chard and Honilon. Chard's trial proved SLICssfUl and continues, while Honiton's experiment was seasonal and has been temporarily halted until volunteer support Can be secured. There was a change in leadership as the incumbent Retail Operations Manager left Ferne, with a replacement appointed in Mah 2023. The Assistant at Chard was promoted lo Manager, and a new Assistant was recruited. To better align with our strategic direction, we served the required 6 months, notice lo the landlord of Crewkeme, informing them of our non-renewal of the lease. Crewkeme's operations continue month-to-month as we await a new lease in a more suitable location. The new team managing the store is making significant efforts. and donations remain plentiful. Sanctuary.. In September 2022, we presented the 3 Year Sanctuary Strategy lo the Board of Trustees, and il was approved. The planned Turnaround was successfully completed by the end of March. The retail aspects of the Sanctuary faced challenges throLJghoul the year, with decreased visitor numbers and income impacted by broader economic conditions. While overall volunteer numbers improved al Ferne, recruiting volunteers for areas like Food & Beverage IF&BI, Visitor Centre IVCI, or the shop proved more challenging and inconsistent. Despite declining visitor numbers, Nina's Café outperfomied the previous year, indicating independent visits lo Nina's separate from the sanctuary. These efforts underscore our dedication lo expanding our operations to meet the growing needs of surrendered animals, both in our charity shops and the sanctuary. Despite the challenges faced, our commitment to our mission remains resolute. S03 - To maxlmlse re-homlng opportunltles for all anlmals surrendered to our care Despite the rising numbers of animals being surrendered due to the cosl-of-living crisis, our rehoming team continues lo provide exceptional setvice. Throughout the year, we successfully re-homed 97 dogs, 113 cats, and 4 horses, reaffirming our dedication to giving animals a fresh stsrt in loving homes. Pag8 5
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report We continue to observe a high number of dogs in need of rehoming who have fad complex behavioural and health conditions. To address this, we continue to engage the services of a behaviourist to provide specialised support, and this Servi is also available to our adopters. Central to our mission is the creation of tailored training plans for each dog, ensuring their successful integration into the community and facilitating their journey to finding their forever homes. This commitment remains al the heart of our work and underscores our unwavering dedication to our dogs. We extend our heartfelt thanks to the Association of Cats and Dogs Homes, of which we are proud members, for their consislenl and ad hoc bulletins, which have been invaluable in ensuring the safely and well-being of our animals and staff. S04 - To provide the knowledge and skills the staff and volunteers need to carry out their roles effectively Our strategic objective, S04, emphasises our commitment to providing our colleagues and volunteers with the knowledge and skills necessary lo perform their roles effectively. This objective is ntral lo our mission and the well-being of the animals in our care. Senior leaders have undertaken the challenge of implementing personalised training plans for our colleagues. These plans are tailored to individual development needs and aspirations, ensuring that our team members receive the necessary support lo excel in their roles. This approach goes beyond standard role-based training and includes vital coverage of Health and Safety {H&SI requirements. We have established a comprehensive induction programme for our new colleagues and volunteers lo ensure they are well-prepared and aligned with our mission from day one. This programme covers our values, safety protocols, and the specific responsibilities associated with their roles. Il's a vital component of integrating new starters and volunteers seamlessly into our team and empowering them to contribute effectively to our cause. By nurturing the growth of our team members, we enhance their ability to provide Iop-qualily care lo the animals in our sanctuary. S05 - To maintain our policies and practiCOS to ensure tho long-term financial sustsinability of th9 charity We maintain policies and practiS that safeguard our charitys long-term financial sustainability. We uphold all legal responsibilities as mandated by government and the Charity Commission. ensuring transparent and compliant operations. We conduct regular review of our policies and procedures, aligning them with our mission and evolving sector best practices. Additionally, we priorilise prudent financial management, risk assessments, and the development of strategic financial plans to maintain financial health well into the future. S06 - To fundrai$g offgctively to deliver our strategy In alignment with our objective lo fundraise effectively to support our strategic mission, wee executed a wide array of fundraising initiatives throughout the year. Over the course of the year, we ran three core appeals,. Wami and Cosy, Chicken Run & Help our Horses Appeal Give Wallie & Lumin a Pain-Free Life. Pag8 6
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Two of our dedicated supporters fearlessly participated in our annual Parachute Jump sponsorship challenge. Additionally, a team of 23 individuals eMbrad the excitement of the Inflatable sk challenge. Not only did they have a blast, bul they also raised invaluable fLJnds. We were invited lo the annual The Big Bark event and hosted a dog show ring, which was met with great success and we thank the Big Bark team and all who supported the event. Despite challenging weather, our annual Dog Show, held on September 4th, managed to raise over £3,800. We extend our gratitude lo our exceptional team and devoted volunteers for their unwavering support, making it a fantastic day despite the weather. We have harnessed the power of digital fundraising with initiatives such as the Kitten Naming competition on Facebook, a SUCssful Online Auction, a Festive Photo Competition, and a Pets Got Talent competition. Our team actively engaged in 12 external events IhroughoLJt the year. A notable highlight was our participation in the Taunton Flower Show, thanks to the contributions of Fon Cosens, the Willow Artist. We persist in seeking funds through Grants and Trust Applications, which are invaluable to the Sanctuary. Legacies continue lo be a core income stream for the charity, enabling us to assist numerous animals, and we are incredibly grateful lo all who have remembered Feme by leaving a gift in their wills lo the charity. We thank all supporters, fundraising and volunteers who have helped lo make this year a remarkable year for the fundraising team and generated valuable funds for the charity. Publlc Relatlons Our social media presence is expanding as we maintain our activity on Facebook, Instsgram, YouTube, and Linkedln. Ferne is dedicated lo enhancing its visibility among both existing and potential supporters. In addition, we are reinforcing our historical lies with the armed forces by re-signing the Armed Forces Covenant. Within our sanctuary, we've thoughtfully illustrated our charills rich history through an engaging timeline and informative display boards. Financial Review The Finance and General Purposes Committee, which meets quarterfy, holding their meetings two weeks prior lo the main board meetings. Their primary focus remains the careful examination of the Sanctuarls financial performance, including a comprehensive review of retail performance and People Management update. Their role extends lo offering valuable recommendations lo the main board on policies, perf0mlan, and refining cash flow forecasts. The year has seen strong growth in income despite escalating costs in areas like building maintenance. veterinary expenses, and overall operating costs which has resulted in a deficit of £246,426. Investments Over the year, trustees receive quarterly updates regarding Ferne's investment Performan and have convenient access to this information through an online portal. Our investment portfolio is under the discretionary management of Rathbones Investment Management Ltd, guided by a client agreement. Trustees engage in an annual performance review meeting with Ralhbones. Our investment strategy primarily aims to achieve a balanced approach between income and long-term capital growth {over a decade or morel. In alignment with our risk mitigation strategy, we maintain a policy to limit exposure lo any single direct equity to no more than 5 /0. Pag8 7
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Rgsglvgs In response lo global economic challenges, our trustees are committed to maintaining 'free' reserves al a level equivalent to twelve months of unrestricted core activity expenditure. As of year-end, our Yree, reserves decreased to £875,000 Icompared to £1,059,000 in 20221 due lo rising costs and global market impacts. Meanwhile, reslricled funds remained stable at £1,269,649 (compared lo £1,283,649 in 20221, reflecting our dedication lo responsible fund management. We continue to prioritise financial stability while navigating these financial pressures. DesiTgnated funds Cattery and Building Improvements - We've allocated £4.8k towards refreshing our cattery facilities and general building enhancements, enhancing the well-being of our animals and colleagues. Equine Centre Project We're actively seeking funding from Charitable Trusts and Corporate Supporters for this project, this project will commence upon securing full funding, and so expanding our equine care capabilities. Water Infrastructure Investment - We've invested £5.5k to bolster our main sile's water infrastructu, ensuring reliable water supply, sustainability, and continued high-quality care for our animals. These fund allocations signify our strategic investments to benefit our animals. We're committed lo securing funding for the Equine Centre project. further advancing our mission. Risks In each full board meeting, the trustees review the Major Risks Register, which identifies risks spanning all aspects of the Sanctuary. This register also outlines strategies to mitigate these risks effectively. Notably, rising energy costs and the condition of our water management infrastructure continue lo present substantial risk factors for the charity. Furthermore, it is important lo acknowledge we have not downgraded the risk associated with cybersecurity. Our commitment lo maintaining a high level of vigilance in safeguarding against cyber threats remains unchanged. Pensions Our stakeholder pension scheme aligns with the aulo-enrolment requirements sel forth by the Pensions Regulator. This mid-range pension product serves as a testament lo our commitment to ensure that our staff can effectively prepare for their retirement. Structure, Governance and Management The Board of Trustees meets regularly, a minimum of four times 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 performance. The 808rd also has two further sub-committees dealing with Finan & General Purposes and Health & Safety. All sub-committees meet quartedy and feedback lo the main Board meeting through their respective Chairperson. 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 to the full Board for final review and approval. Pag8 8
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report The responsibility for day-to-day management of the charity is delegated to the Chief Executive Officer and the Senior leadership team. In the past year, Ferne extended a warm welcome to a new trustee who brings valuable expertise from the medical sector. Recruitment. Induction and Training of Trustees Each new trustee joining Ferne undergoes a comprehensive induction process and receives a comprehensive joining pack. New trustees are encouraged lo complete fundamental trustee training that encompasses key principles of governance and fosters an understanding of financial management. New trustees also engage in a day dedicated lo gaining practical insights by wort¢ing within different sections of our animal care team. This unique experience not only enhan$ their understanding of our operations but also underscores our collective dedication to the welfare of the animals we serve. Remuneratlon of Staff It is important to note that a majority of our team members receive compensation at or near the minimum wage level. However, we also acknowledge that one member of our staff eams an annual salary exceeding £60,000. This variance in compensation levels underscores the diverse roles and responsibilities within Feme and our commitment to ensure the sustainable growth of the charity. while we remain dedicated to fair and equitable remuneration practices. Pag8 9
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Trustees, Report Reference and Administrative Details Trustees Mr R A O'connor, Chair Mr D Cook Mr R Fuller Ms V Stiff Mr K Hodges Dr M Richards Senior Management I Lgadership Team Ms E Purnell, Finance Manager Miss N Haddock, Animal Care Manager Mr J Pott, Estates Manager Mr Kevan Hodges, CEO Mr Ewan Tilbe, Retail Operations Manager Principal Office Wambrook Chard Somerset TA20 3DH The charity is incorporated in England & Wales. Company Reglstratlon 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 Page 10
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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. 05 December 2023 The annual report Was approved by the Iruslees of the charity on behalf by.. and signed on its DocuSbJn•d ty. OF8SVTBC*FtJ4CP""" "" "' Mr R A O'connor Trustee Page11
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 the incoming resources and application of resources, including its income and expenditure, of the charitsble company for that period. In preparing these financial stslements, the Iruslees are required to.. select suitable 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 accounting standards, comprising FRS 102 have been followed, subject lo 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 trustees are responsible for keeping proper accounting rewrds that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to 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. The Iruslees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable comp8nVs website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 12
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 2023, 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 2023 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. Page 13
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 matter 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 121, 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 14
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Independent Auditor's Report to the Members of The Ferne Animal Sanctuary Auditor 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 15
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A 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 8 December 2023 Date.. Page 16
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DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary (Registration number: 09772680) Balance Sheet as at 31 March 2023 2023 2022 Note Fixed assets Intangible assets Tangible assets Investments 13 14 832 3,826,495 732,150 1,798 3,872,627 1,135,337 4,559,477 5,009,762 Current assets Stock Debtors Cash at bank and in hand 32,789 398,410 253,775 29,570 188,085 233,827 17 18 684,974 451,482 Creditors: Amounts falling due within one year 19 213,635 134,002 Net current assets 471,339 317,480 Total assets less current Ilabllltles 5,030,816 5,327,242 Creditors- Amounts falling due after more than one year 20 Net assets 1120,8331 4,909,983 1170,8331 5,156,409 Funds ofthe charity: Restricted income funds Restricted funds 1,269,649 1,283,649 Unrestricted income funds Unrestricted funds 3,640,334 3,872,760 Total funds 23 4,909,983 5,156,409 The financial slalements on pages 17 to 38 were approved by the Iruslees, and aulhorised for issue on08 December thgned on their behalf by.. Docu8*n•dty.' DF85078C96FO4C8. Mr R A O'connor Trustee The notes on pages 20 to 38 fomi an integral part of these financial statements. Page 18
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Statement of Cash Flows for the Year Ended 31 March 2023 2023 2022 Cash flows from operating activities Net expenditure {246,4261 154.7701 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 126,307 966 12,2921 7,496 40,820 130,172 966 11251 8,281 122,5871 61,937 173,1291 Worklng capltal adlustments Increase in stocks Increase in debtors Increase in creditors 13,2191 1210,3251 79,485 14,4531 144,3571 4,475 Net cash flows from operating activities 1207,1881 17,602 Cash flows from investing activities Interest receivable and similar income Purchase of tangible fixed assets Sale of tangible fixed assets Cash withdrawn from investment portfolio 19 180,4001 2,517 355,000 178,3771 125 Net cash flows from investing activities 277,136 178,2521 Cash flows from flnanclng actSvltSes Repayment of loans and borrowings 150,000 129,167 Net increaselldecreasel in cash and cash equivalents 19,948 189,8171 323,644 Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 233,827 253,775 233,827 All of the cash flows are derived from continuing operations during the above periods. The notes on pages 20 to 38 fomi an integral part of these financial statements. Page 19
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 20
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 m8nagemenl personnel are considered lo be the trustees and senior management team. Page 21
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 £255,302 {2022 £177,283) 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 £4,212 12022 £4,712> 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 22
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 23
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 24
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 Other grants received Other grants and donations - restricted 79,443 85,185 820,469 79,443 85,185 820,469 47,888 7,600 47,888 7,600 15,155 15,155 Total for 2023 1,040,585 15,155 1,055,740 Total for 2022 909,661 17,636 927,297 Page 25
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 4 Income from charitable activities Unrestrlcted funds General Total funds Animal homing income Live-in staff services contributions 36,907 7,245 36,907 7,245 Total for 2023 44,152 44,152 Total for 2022 49,021 49,021 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 286,418 57,782 11,437 11,000 51,249 3,918 6,720 286,418 57,782 11,437 11,000 51,249 3,918 6,720 Total for 2023 428,524 428,524 Total for 2022 365,048 365,048 6 Investment Income Unrgstrictgd funds General Total funds Dividends receivable from listed investments Bank and investment interest re1vable 21,928 19 21,928 19 Total for 2023 21,947 21,947 Total for 2022 21,644 21,644 Page 26
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 7 Expenditure on raising funds a) Costs of generating donations and legacies Unrestricted funds General Total fund$ Fundraising and marketing 269,596 269,596 Total for 2023 269,596 269,596 Total for 2022 207,340 207,340 b) Costs of tradlng actlvltles Unrestricted funds General Total funds Charity shop expenses Restaurant costs 284,259 119,467 284,259 119,467 Total for 2023 403,726 403,726 Total for 2022 285,406 285,406 e) Investment management Costs Unrestricted funds General Total funds Fees payable to investment managers 7,496 7,496 Total for 2023 7,496 7,496 Total for 2022 8,281 8,281 Page 27
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 8 Expenditure on charitable activities Unrestrlcted funds General Restricted funds Total funds Staff costs Depreciation, amorti'salion and other similar costs Other costs 546,024 97,416 382,383 546,024 124,981 382,383 27,565 Total for 2023 1,025,823 27,565 1,053,388 Total for 2022 889,721 28,055 917,776 Actlvlty undertaken directly Actlvlty support costs Total 2023 Total 2022 Animal Care 639,813 413,574 1,053,387 917,776 Expenditure on charitable activities in the prior year comprises £541,238 of activities undertaken directly and £376,538 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 2023 Total 2022 Animal Care 16,524 41,192 130,023 225,835 413,574 376,538 Page 28
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 10 Net incomelexpenditure Net expenditure for the year includes.. 2023 2022 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 40,270 8,500 150 4,000 12,2921 126,307 966 30,250 7,400 110 3,500 11251 130,172 966 11 Trustees remuneration and expenses During the period the charity made the following transactions with Iruslees.. Mr K Hodges Mr K Hodges received remuneration of £27,22012022.. £Nill during the period. No trustees received any reimbursed expenses from the charity during the year12022 - None). No trustees have reIved any other benefits from the charity during the year. 12 Staff Costs The aggregate payroll costs were as follows.. 2023 2022 Staff costs during the year wore: Wages and salaries Social security costs Pension costs 503,552 35,009 7,463 725,416 48,633 11,176 546,024 785,225 Page 29
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 The monthly average number of persons {including senior management team) employed by the charity during the year was as follows= 2023 No 20 2022 No 20 Animal care Estates Fundraising and marketing Ferne shop & Visitor Centre Restaurant Charity shops Human Resources and Administration 13 59 50 One employee received emoluments of more than £60,000 during the year. 13 Intangible fixed assets Software and website costs Total Cost Al 1 April 2022 12,976 12,976 Al 31 March 2023 12.976 12,976 Amortisation Al 1 April 2022 Charge for the year 11.178 966 11,178 966 Al 31 March 2023 12,144 12,144 Net book value Al 31 March 2023 832 832 Al 31 March 2022 1,798 1,798 Page 30
o)00 G) (X O OOLn <0 ¢n 7575 U<<Ci < Q<OLU < Z <
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 15 Fixed asset investments 2023 2022 Shares in group undertakings Other investments 732,149 1,135,336 1,135,337 732,150 Other investments 2023 2022 Listed investments Cash held for investment 603,692 128,457 1,057,876 77,460 732,149 1,135,336 Listed investments Cost or Valuation Al 1 April 2022 Revaluation Additions Disposals Al 31 March 2023 1,057,876 162,5831 91,125 482,726 603,692 Net book value Al 31 March 2023 603,692 Al 31 March 2022 1,057,876 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 32
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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 2023 2022 Undertaklng Reglstered offlce Holdlng Subsidiary undertakings Ferne Trading Limited Wambrook, Chard, Somerset. TA20 3DH Ordinary shares The princip81 activity of Feme Trading Limited is that of a dormant company. 16 Stock 2023 2022 Consumables Goods for resale 18,670 14,119 20,885 8,685 32,789 29,570 17 Debtors 2023 2022 Trade debtors VAT recoverable Other debtors Prepayments Accrued income 29,107 22,108 13,185 11,780 322,230 16,788 10,482 21,995 138,820 398,410 188,085 18 Cash and cash equivalents 2023 2022 Cash at bank 253,775 233,827 Page 33
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 19 Creditors: amounts falling due within one year 2023 2022 Bank loans Trade creditors Other taxation and social security Other creditors AccrLJals 50,000 115,963 17,741 1,741 28,190 50,000 58,671 9,776 1,607 13,948 213,635 134,002 20 Creditors- amounts falling due after one year 2023 2022 Bank loans 120,833 170,833 The Coron8virus Business Interruption loan is denominated in steding. Interest IS Payable monthly at a nominal interest ffite of 2.450/. + base, beginning from the 13th month following inception of the loan, and with the final inslalmenl due on 6 August 2026. 21 Obligations under leases Operating lease commitments Total futLJre minimum lease payTnents under non-cancellable operating leases are as follows.. 2023 2022 Within one year Between one and five years 48,318 41,578 39,400 42,928 89,896 82,328 22 Contlngent assets Al 31 March 2023, the charity had been notified of ils enlitlemenl to twenty 131 March 2022 eighleenl legacies Whe the amount of the payments is uncertain. As such, no income has been recognised in the accounts in respect of these legacies. Page 34
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 23 Funds Balance at 1 Aprll 2022 Balance at 31 March 2023 Incomlng Resources resources expended Transfers Unrestricted funds General General funds 3,748,994 1,535,208 11.758,947) 1,590 3,526,845 DesiTgnated Designated funds 123,766 110,2771 113,489 Total unrestrictgd funds Restricted funds Rehoming centre Catlery and isolation unit Visitor centre Ferret House Goose house Equine rehabilitation centre 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 Chicken run Comfy Cows Chinchilla House Other restricted funds 3,872,760 1,535,208 1,769,224 1.590 3,640,334 291,091 111,649 91,974 9,000 7,052 {6,6661 {2,5641 {2,0961 12001 11521 284,425 109,085 89,878 8,800 6,900 22,650 23,910 22,650 23,898 500 15121 642,935 2,983 12,200 114,9201 1631 11231 628,015 2,920 12,077 4,725 11001 4,625 500 7,000 1101 490 7,000 3,000 20,000 2,238 4,985 10,544 3,000 20,000 2,238 4,985 12,919 3,217 255 2,808 19,464 2,375 3,217 255 2,808 6,000 15,213 11591 {1,5901 Total restricted funds 1,283,649 15,155 127,565) 1,550,363 {1,796,7891 11,5901 1,269,649 Total funds 5,156,409 4,909,983 Page 35
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 Balance at 1 Aprll 2021 Incomlng resources Resources Balance at 31 expended March 2022 Unrestricted funds General General funds 3.782,851 1.346,397 11,380,254) 3,748,994 DesiTgnated Designated funds 134,260 {10,4941 123,766 Total unrestricted funds 3,917,111 1,346,397 1,390,748 3,872,760 Restricted Rehoming centre Catlery and isolation unit Visitor centre Ferret House Goose house Equine rehabilitation centre 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 7,204 20,881 24,422 16,6661 12,5641 12,0961 {2001 (1521 291,091 111,649 91,974 9,000 7,052 22,650 23,910 1,769 (5121 657,855 3,046 12,323 114,9201 163} (1231 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 funds 1,294,068 17,636 128,0551 11,418,803) 1,283,649 Total funds 5,211,179 1,364,033 5,156,409 Page 36
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 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. 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 fund$ at 31 March 2023 Unrestricted funds General Designated Restricted funds Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total nel assets 832 2,652,844 732,150 475,487 1213,6351 120,833 832 3,826,495 732,150 684,974 1213,6351 120,833 1,173,651 113,489 95,998 3,526,845 113,489 1,269,649 4,909,983 Page 37
DoGuSign Envelope ID.. 82356616-ABB9469D-AE9A-ED173309072A The Ferne Animal Sanctuary Notes to the Financial Statements for the Year Ended 31 March 2023 25 Financial instruments Categorisation of financial instruments 2023 2022 Financial assets measured at fair value through profit or loss Financial assets that are debt instruments measured al amortised cost Financial liabilities measured at amortised cost 732,149 1,135,336 29,107 167,704 16,788 281,111 593,552 871,013 26 Related party transactions Transactions with the trustees are disclosed in Note 11. The amount of remuneration paid to the key management personnel of the Charity is £185,80212022 £179,732). 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 to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The principal pla of business is.. Wambrook Chard Somersel TA20 3DH Page 38