Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
Charity number: 1164393
THE SALLY ANN RAVEN FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | S A Raven (deceased 16 December 2023) |
|---|---|
| J Macfarlane | |
| C Dowding | |
| L A Macfarlane | |
| Charity registered number 1164393 Principal office Wymarks House Purleigh Wash Farm Mundon Maldon Essex CM9 6PG Accountants Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP |
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024.
Objectives and activities
a. Policies and objectives
The objects of the charity are:
-
to provide financial assistance to any registered charity which, in the opinion of the trustees, provides animals for the relief and to improve the quality of life of those in need in the UK because of ill health, danger or disability to include but not exclusively search and rescue dogs and sniffer dogs.
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to provide financial assistance amongst farmworkers suffering hardship due to farm work related ill-health or injury provided such farmworkers have been employed on the farm in the UK of upwards of 25 years.
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to prevent and relieve suffering of abandoned or mistreated domestic, working and wild animals.
The charity aims to work towards achieving its objects through the activities undertaken.
b. Activities undertaken to achieve objectives
The primary activities to generate revenue for the charity continue to be the operation of Purleigh Wash Farm and associated land and the investments held by the charity. This year has been one of transition since the passing of Miss S A Raven as the main assets held by Miss Raven are passing into the charity.
The Farm is a fully operational farm based in Essex which is nearly 600 acres. The Farm is now a fully arable farm though historically it was a mixed farm with livestock. Expansion of the farm continues in the form of redevelopment of the existing agricultural buildings for commercial leases. There is also the potential for noncore farm land to be disposed of for residential development.
The Charity holds a number of investments whose purpose is to generate additional revenue for charity.
c. Main activities undertaken to further the Charity's purposes for the public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The main activities focuses on generating as much revenue as possible in order to support the objectives of the charity in being able to provide financial support to animal charities and supporting farmers in need. They support animal charities to improve the quality of life of those in need by providing financial assistance.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
a. Main achievements of the Charity
The aim is to expand the portfolio of charities next year once we have had a full year of operating with the farm assets. We currently make donations to 9 charities focused around improving the welfare of animals as well as supporting charities with donations where animals are used to provide relief.
The Farm has expanded its commercial tenants and it now has 5 tenants renting building within the farm with 2 of the tenants set to expand their footprints and take on additional buildings. This will leave only 3 further buildings to lease and the result has been to increase revenue from the farm by almost 200%.
The investment portfolio has seen significant growth in the last 6 months and the charity is well positioned for the future. The aim for 2025 will be the disposal of the non-core farm land which will provide significant revenue for the farm.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The charity aims to have sufficient reserves to enable it to fulfil its objectives by making donations to worthy causes and the trustees meet regularly to ensure that this is the case. At the present time, the funds held are sufficient to allow the charity to continue acting to fulfil its objectives.
Structure, governance and management
a. Constitution
The Sally Ann Raven Foundation is a registered charity, number 1164393, and is constituted under a Trust deed dated 10 November 2015.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
L A Macfarlane Trustee Date: 07-03-2025 | 14:31 GMT
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of The Sally Ann Raven Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
10-03-2025 | 09:17 GMT Signed: Dated: Louise Cherry ACA
Hillier Hopkins LLP
Chartered Accountants Radius House 51 Clarendon Road Watford Herts WD17 1HP
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ - 21,585 15,132 36,717 2,566 67,870 70,436 (33,719) 24,305 (9,414) 282,511 (9,414) 273,097 |
Total funds 2024 £ - 21,585 15,132 36,717 2,566 67,870 70,436 (33,719) 24,305 (9,414) 282,511 (9,414) 273,097 |
Total funds As restated 2023 £ 137,773 - 1,548 139,321 378 645 1,023 138,298 (4,082) 134,216 148,295 134,216 282,511 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2024
| Note Fixed assets Investments 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
77,636 77,636 (12,586) |
2024 £ 208,047 65,050 273,097 - 273,097 273,097 |
45,738 45,738 (3,030) |
As restated 2023 £ 239,803 42,708 |
|---|---|---|---|---|
| 282,511 | ||||
| - 282,511 |
||||
| 282,511 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
L A Macfarlane
Trustee Date: 07-03-2025 | 14:31 GMT
The notes on pages 8 to 15 form part of these financial statements.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
The Sally Ann Raven Foundation is a charitable trust, registered in England and Wales
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Sally Ann Raven Foundation 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 stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Income from donations and legacies
| Donations 4. Income from charitable activities Income from farming activities 5. Investment income Rental income Dividend income Bank interest 6. Investment management costs Investment management fees |
Unrestricted funds 2024 Total funds 2024 Total funds As restated 2023 £ £ £ - - 137,773 Unrestricted funds 2024 Total funds 2024 Total funds 2023 £ £ £ 21,585 21,585 - Unrestricted funds 2024 Total funds 2024 Total funds 2023 £ £ £ 10,527 10,527 - 4,528 4,528 1,548 77 77 - 15,132 15,132 1,548 Unrestricted funds 2024 Total funds 2024 Total funds 2023 £ £ £ 2,566 2,566 378 |
|---|---|
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | |||
|---|---|---|---|
| funds | Total | Total | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Charitable activities | 67,870 | 67,870 | 645 |
8. Analysis of expenditure by activities
| Charitable activities Charitable activities Analysis of direct costs Farming expenses |
Activities undertaken directly 2024 £ 65,638 Charitable activities 2024 £ 65,638 |
Support costs 2024 £ 2,232 Support costs 2023 £ 645 Total funds 2024 £ 65,638 |
Total funds 2024 £ 67,870 Total funds 2023 £ 645 Total funds 2023 £ - |
|---|---|---|---|
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Repairs and renewals Accountancy fees Bank charges |
Charitable activities 2024 £ 384 1,800 48 2,232 |
Total funds 2024 £ 384 1,800 48 2,232 |
Total funds 2023 £ - 645 - |
|---|---|---|---|
| 645 |
9. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,800 | 645 |
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) . During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .
11. Fixed asset investments
| Cost or valuation At 1 April 2023 as restated Additions Disposals Revaluations At 31 March 2024 |
Listed investments £ 239,803 253,717 (306,943) 21,470 208,047 |
|---|---|
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. Creditors: Amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 12,586 | 3,030 |
13. Prior year adjustments
A donation of shares valued at £137,773 was made to the charity in the year ended 31 March 2023 but not included in the accounts. This is now reflected in donations received and investments held at the year end.
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. Statement of funds
Statement of funds - current year
| Balance at 1 April 2023 £ Unrestricted funds General Funds - all funds 282,511 Statement of funds - prior year Balance at 1 April 2022 £ Unrestricted funds General Funds 148,295 |
Income £ 36,717 As restated Income £ 139,321 |
Expenditure £ (70,436) Expenditure £ (1,023) |
Gains/ (Losses) £ 24,305 Gains/ (Losses) £ (4,082) |
Balance at 31 March 2024 £ 273,097 |
|---|---|---|---|---|
| As restated Balance at 31 March 2023 £ 282,511 |
15. Summary of funds
Summary of funds - current year
| Balance at 1 April 2023 £ General funds 282,511 Summary of funds - prior year Balance at 1 April 2022 £ General funds 148,295 |
Income £ 36,717 As restated Income £ 139,321 |
Expenditure £ (70,436) Expenditure £ (1,023) |
Gains/ (Losses) £ 24,305 Gains/ (Losses) £ (4,082) |
Balance at 31 March 2024 £ 273,097 |
|---|---|---|---|---|
| Balance at 31 March 2023 £ 282,511 |
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Docusign Envelope ID: 6B4EBFC3-08CF-4179-9083-F44EE3E820A5
THE SALLY ANN RAVEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
16. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 208,047 77,636 (12,586) 273,097 |
Total funds 2024 £ 208,047 77,636 (12,586) 273,097 |
|---|---|---|
Analysis of net assets between funds - prior period
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds As restated 2023 £ 239,803 45,738 (3,030) 282,511 |
Total funds As restated 2023 £ 239,803 45,738 (3,030) 282,511 |
|---|---|---|
17. Related party transactions
During the year consultancy fees of £32,365 were paid to Skywalker Ventures Limited, which is a company controlled by L A Macfarlane, a Trustee of the charity.
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