**Charity Registration No. 1165582**
## **SAWPIT RETIREMENT HOME**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **SAWPIT RETIREMENT HOME**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr D A Hunt Mrs C M Hunt Mr S Jones Mr S Ellis Cooper Mr A T Huckfield
**Charity number** 1165582 **Principal address** New House Farm Stud Saw Pit Lane Apperley Gloucester United Kingdom GL19 4DW **Accountants** Azets Pillar House 113-115 Bath Road Cheltenham Gloucestershire United Kingdom GL53 7LS **Bankers** Weatherbys Private Bank Sanders Road Wellingborough Northamptonshire United Kingdom NN8 4BX
## **SAWPIT RETIREMENT HOME**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Accountants' report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 13|
## **SAWPIT RETIREMENT HOME**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
The primary purpose of Sawpit Retirement Home "the charity" is for the benefit of the public to relieve the suffering of horses and dogs in need of care and attention and, in particular, to provide and maintain rescue homes or other facilities for the reception, care and treatment of such animals.
The Board of Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning future activities.
## Significant activities
The primary activity during the year has been the provision of facilities for welfare, care and treatment for horses and dogs.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## Charitable activities
The main achievements during the period is the continued provision of facilities to assist with the welfare, care and treatment for horses and dogs.
During the period the charity has provided welfare, care and treatment to 22 animals (2020: 27 animals).
## **Financial review**
## Financial position
The financial position at the end of the period is in line with the Trustees' expectation.
## Reserves policy
The Sawpit Retirement Home Board of Trustees has given consideration to the continued activities and life of the charity. The Sawpit Retirement Home Board of Trustees are very aware that the continued existence of the charity is to some extent dependent on the level of funds held and as such a concerted effort has been made to address the need to add to these funds on an annual basis going forward.
In the opinion of the Sawpit Retirement Home Board of Trustees, the present level of reserves totalling £(4,881) (2020: £16,547) is not adequate. Donations totalling £40,000 have been made to date in y/e 31 March 2022 in order to address the excess of expenditure over income in recent years and return the balance sheet to a net assets position.
## Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## Covid-19
The global pandemic, Covid-19, has had minimal impact on the charity and it continues to operate. It is the Trustees' intention to provide sufficient income to continue operating in the future.
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## **SAWPIT RETIREMENT HOME**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Structure, governance and management**
## Governing document and charity constitution
The charity is a Charitable Incorporated Organisation controlled by its constitution dated 12 February 2016.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr D A Hunt
Mrs C M Hunt Mr S Jones
Mr S Ellis Cooper Mr A T Huckfield
## Recruitment and appointment of new trustees
In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. There must be a minimum of two charity trustees.
The trustees' report was approved by the Board of Trustees.
## **Mr D A Hunt**
Trustee
Dated: 28 January 2022
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## **SAWPIT RETIREMENT HOME**
## **ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAWPIT RETIREMENT HOME FOR THE YEAR ENDED 31 MARCH 2021**
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Sawpit Retirement Home for the year ended 31 March 2021, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sawpit Retirement Home and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sawpit Retirement Home and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Sawpit Retirement Home has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Sawpit Retirement Home. You consider that Sawpit Retirement Home is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Sawpit Retirement Home. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
## **Azets**
28 January 2022
Pillar House 113-115 Bath Road Cheltenham Gloucestershire GL53 7LS United Kingdom
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## **SAWPIT RETIREMENT HOME**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**Unrestricted** Unrestricted
**funds**
funds
**2021**
2020
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
23,750
21,251
**Expenditure on:**
Charitable activities
**3**
45,178
33,267
**Net expenditure for the year/**
**Net movement in funds**
(21,428)
(12,016)
Fund balances at 1 April 2020
16,547
28,563
**Fund balances at 31 March 2021**
(4,881)
16,547
The statement of financial activities includes all gains and losses recognised in the year.|**Unrestricted** Unrestricted
**funds**
funds
**2021**
2020
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
23,750
21,251
**Expenditure on:**
Charitable activities
**3**
45,178
33,267
**Net expenditure for the year/**
**Net movement in funds**
(21,428)
(12,016)
Fund balances at 1 April 2020
16,547
28,563
**Fund balances at 31 March 2021**
(4,881)
16,547
The statement of financial activities includes all gains and losses recognised in the year.|
|---|---|
|The statement of financial activities includes all gains and losses recognised in the year.||
All income and expenditure derive from continuing activities.
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## **SAWPIT RETIREMENT HOME**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2021**_
|**2021**
**2020**
**Notes**
**£**
**£**
**£**
**Fixed assets**
Tangible assets
**7**
19,712
**Current assets**
Debtors
**8**
-
4,250
Cash at bank and in hand
21,395
28,272
21,395
32,522
**Creditors: amounts falling due within**
**one year**
**9**
(45,988)
(39,195)
Net current liabilities
(24,593)
**Total assets less current liabilities**
(4,881)
**Income funds**
Unrestricted funds - general
(4,881)
(4,881)|**£**
23,220
(6,673)
16,547
16,547
16,547|
|---|---|
The financial statements were approved by the Trustees on 28 January 2022
## Mr D A Hunt **Trustee**
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
Sawpit Retirement Home is a Charitable Incorporated Organisation registered in England and Wales, registered number 1165582. The address of the registered office can be found on the Legal and Administrative Information page.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for smaller charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
As described in the Trustees' Report, further donations have been made in the y/e 31 March 2022 to address the excess of expenditure over income in recent years and return the balance to a net assets position.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
The charity receives donated resources from Mr D A Hunt in the form of provision of land but as the value of these resources cannot be quantified the income and expenditure has not been recognised in the statement of financial activities.
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in the notes to the financial statements.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery etc. 10 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 Taxation**
The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to the charitable objects.
## **1.13 Provisions**
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **2 Donations and legacies**
|**Unrestricted** Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Donations and gifts
23,750
21,251
**3**
**Charitable activities**
**Facilities**
**costs**
**Facilities**
**costs**
**2021**
**2020**
**£**
**£**
Staff costs
17,783
15,447
Animal feed and bedding
8,916
8,999
Veterinary fees and medical supplies
10,102
2,428
Depreciation
3,508
3,538
Water rates
283
82
Repairs and cleaning
2,912
715
43,504
31,209
Share of support costs (see note 4)
444
438
Share of governance costs (see note 4)
1,230
1,620
45,178
33,267|**Unrestricted** Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Donations and gifts
23,750
21,251
**3**
**Charitable activities**
**Facilities**
**costs**
**Facilities**
**costs**
**2021**
**2020**
**£**
**£**
Staff costs
17,783
15,447
Animal feed and bedding
8,916
8,999
Veterinary fees and medical supplies
10,102
2,428
Depreciation
3,508
3,538
Water rates
283
82
Repairs and cleaning
2,912
715
43,504
31,209
Share of support costs (see note 4)
444
438
Share of governance costs (see note 4)
1,230
1,620
45,178
33,267|**Unrestricted** Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Donations and gifts
23,750
21,251
**3**
**Charitable activities**
**Facilities**
**costs**
**Facilities**
**costs**
**2021**
**2020**
**£**
**£**
Staff costs
17,783
15,447
Animal feed and bedding
8,916
8,999
Veterinary fees and medical supplies
10,102
2,428
Depreciation
3,508
3,538
Water rates
283
82
Repairs and cleaning
2,912
715
43,504
31,209
Share of support costs (see note 4)
444
438
Share of governance costs (see note 4)
1,230
1,620
45,178
33,267|
|---|---|---|
||**2021**
**£**
17,783
8,916
10,102
3,508
283
2,912
43,504
444
1,230
45,178|**2020**
**£**
15,447
8,999
2,428
3,538
82
715|
|||31,209
438
1,620|
|||33,267|
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **4 Support costs**
|**Support costs**|||
|---|---|---|
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Operation of animal
rescue home
444
1,230
444
1,230
Analysed between
Charitable activities
444
1,230|**2021**
Support
costs
Governance
costs
**£**
£
£
1,674
438
1,620
1,674
438
1,620
1,674
438
1,620|2020
£
2,058|
|||2,058|
|||2,058|
All support and governance costs are apportioned to the one charitable activity.
Support and governance costs includes fees of £1,674 in respect of other accountancy services (2020: £2,058).
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **6 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|17,718|15,447|
|Other pension costs|65|-|
||17,783|15,447|
No employees received emoluments in excess of £60,000.
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## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **7 Tangible fixed assets**
|**Cost**
At 1 April 2020
At 31 March 2021
**Depreciation and impairment**
At 1 April 2020
Depreciation charged in the year
At 31 March 2021
**Carrying amount**
At 31 March 2021
At 31 March 2020
**8**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**9**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**Plant and machinery etc.**
**£**
35,381
35,381
12,161
3,508
15,669
19,712
23,220
**2021**
**2020**
**£**
**£**
-
4,250
**2021**
**2020**
**£**
**£**
44,362
37,569
1,626
1,626
45,988
39,195|**Plant and machinery etc.**
**£**
35,381
35,381
12,161
3,508
15,669
19,712
23,220
**2021**
**2020**
**£**
**£**
-
4,250
**2021**
**2020**
**£**
**£**
44,362
37,569
1,626
1,626
45,988
39,195|
|---|---|---|
|||35,381|
|||12,161
3,508|
|||15,669|
|||19,712|
|||23,220|
|||**2020**
**£**
4,250|
|||**2020**
**£**
37,569
1,626|
|||39,195|
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##
|**Movement in funds**|**Incoming**
**Resources**
**Balance at**|**resources**
**expended**
**31 March 2021**|**£**
**£**
**£**|23,750
(45,178)
(4,881)|
|---|---|---|---|---|
||**Balance at**|**1 April 2020**|**£**|16,547|
||**Transfers**||**£**|-|
|**Movement in funds**|**Incoming**
**Resources**|**resources**
**expended**|**£**
**£**|21,251
(33,267)|
||**Balance at**|**1 April 2019**|**£**|28,563|
## **SAWPIT RETIREMENT HOME**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **11 Related party transactions**
Donations received without conditions from Trustees totalling £19,000 (2020: £17,000) were received during the period ended 31 March 2021.
At 31 March 2021 Sawpit Retirement Home owed £10,100 (2020: £10,100) to Woodlands (Gloucestershire) Limited which is a company controlled by Mr D A Hunt.
At 31 March 2021 Sawpit Retirement Home owed £34,237 (2020: £27,352) to Mr D A Hunt, a trustee of Sawpit Retirement Home.
During the period £1,830 (2020: £925) was paid to Mr S Ellis Cooper, a trustee of Sawpit Retirement Home, for farrier services.
- 13 -