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2021-09-30-accounts

Charity registration number: 1167990

MARGARET GREEN ANIMAL RESCUE (A CHARITABLE INCORPORATED ORGANISATION) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Chartered Accountants

MARGARET GREEN ANIMAL RESCUE

CONTENTS

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Auditors' Report 7 to 10
Consolidated Statement of Financial Activities 11
Consolidated Balance Sheet 12
Balance Sheet 13
Consolidated Statement of Cash Flows 14
Notes to the Financial Statements 15 to 37

MARGARET GREEN ANIMAL RESCUE

REFERENCE AND ADMINISTRATIVE DETAILS

Chief Executive Officer Mr G Wright (resigned 21 October 2021) Mr G Wright (resigned 21 October 2021) Mr G Wright (resigned 21 October 2021)
Mr M Devereux (Acting CEO October 2021- February 2022)
Mr N Mason (appointed 28 February 2022)
Trustees Mr M Devereux
Mr M Nathan
Mrs L Suchanek
Mr A Simons
Mr D Walker
Mr K Reynolds
Principal Office Margaret Green Animal Rescue
Church Knowle
Wareham
Dorset
BH20 5NQ
Charity Registration Number 1167990
Solicitors Taylor Rose MW
Stuart House
St Johns Street
Peterborough
PE1 5DD
Bankers NatWest
5 Old Christchurch Road
BOURNEMOUTH
Dorset
BH1 1DU
Lloyds
15 Blackheath Village
London
SE3 9LH
Investment Managers Hermes Property Unit Trust
Lloyds Chambers
1 Portsoken Street
London
EC1 8HZ
Redmayne Bentley
139 Commercial Road
Ashley Cross
Poole
Dorset
Auditor Edwards & Keeping
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
Rescue Centres Church Knowle, Wareham, Dorset, BH20 5NQ
Lincoln
Farm,		 Bere
Road,		 Winterborne Kingston, Blandford,
Dorset, DT11 9BP
Wingletang, Brentor Road, Heathfield, Tavistock, Devon, PL19
0LF

MARGARET GREEN ANIMAL RESCUE

TRUSTEES' REPORT

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable incorporated organisation for the year ended 30 September 2021.

Trustees' Report 2020/21

We continue to put the health and welfare of all our animals at the very core of everything we do and in doing so we make a significant difference to the lives of the animals in our care.

We have continued to experience the effects of both the pandemic, and changes in public behaviour which is evidenced across our sector. Animal movements through our three centres have reduced by 20% through a combination of unwanted pets being passed on through family and friends during lockdown, and also an increase in animal purchases and sales online.

We are then seeing the effects of that by receiving in animals, particularly dogs, which have significant medical and behavioural issues through lack of proper socialization in the early weeks and months of their lives or lack of effective veterinary care. Often these animals have been passed through a number of owners before being put into rescue. Whilst we achieve success following extensive medical treatment and/or behavioural rehabilitation, this is increasing the time period these animals must remain in our care prior to adoption. We are concerned that this trend will increase in the coming months and years following changes in pet purchasing habits during Covid lockdown.

By careful management of expenditure and more focused appeals the Charity has nevertheless performed well. Of particular relevance is the requirement to account for legacy income at the time that legacies are reported as against received and we were fortunate this year to have received outstanding legacy income so that our overall cashflow remained positive.

We continue to change and improve the lives of the animals we care for on a daily basis. Our heartfelt thanks go out to all staff and volunteers; without their help, expertise, and passion to meet our values, it would not be possible for us to offer the high levels of animal welfare we pride ourselves on. The pandemic has of course had a major impact on our volunteers who have been unable to visit our centres or work in our Charity Shops for much of the period. For that reason we have not made a statement of volunteer hours and financial value this year.

Objectives and activities

The objectives and values of the Charity are to

Rescue, Care, Rehome and Support

We will Rescue homeless, abandoned, neglected or mistreated animals, ensuring Veterinary Care, rehabilitation and respect for each animal. Finding suitable forever homes for the pets in our care to be Rehomed, and providing lifelong Support for owners and their rescued pets.

As part of this we abide by the Five Freedoms for Animal Welfare

  1. Freedom from hunger or thirst, by ensuring easy access to fresh water, and a suitable diet to maintain a full and healthy life

  2. Freedom from discomfort by providing the appropriate environment including shelter and a resting area which is both comfortable and safe

  3. Freedom from pain, injury or disease wherever possible from prevention, or the early detection and rapid diagnosis and treatment

  4. Freedom to express (most) normal behaviour by providing sufficient space, proper facilities, enrichment programmes and company of the animal’s own kind

  5. Freedom from fear and distress by ensuring our conditions and treatment avoid any mental suffering

To achieve our objectives we invest in resources that will allow us to increase the number of animals we are in a position to help, whilst ensuring that the high level of care is not compromised.

MARGARET GREEN ANIMAL RESCUE

TRUSTEES' REPORT

Public benefit

The trustees have given due regard to public benefit when planning the charity's activities in accordance with the Charity Commission's guidance on public benefit. Our activities of rescuing homeless, abandoned, neglected or mistreated animals are in the public benefit as we care for the animals that some of the public are no longer able or willing to do.

Financial review

The financial statements on the following pages provide full details of the results for the year and the charity's financial position at the year end. In summary the Charity has achieved a financial surplus of £447,615 compared with the deficit of £331,262 in the previous financial year.

The Board of Trustees consider the Charity a sustainable and financially strong animal welfare charity. Our plans for the next three years will be based on our determination to maintain our commitment to animal welfare across our geographic region supported by our ongoing financial performance.

We are already committed to major improvements at our Wingletang Centre with a new Cattery Unit in progress and plans for refurbishment of our main Dog Kennel Unit there commencing in early 2022.

Policy on reserves

The trustees have identified the following financial risks to the charity: dependence upon legacy income and the risk that this may not be forthcoming; and prolonged site closure due to infection, government-imposed restriction of movement or widespread property damage; both of which would result in loss of income from charitable activity and donations. We have calculated that either of these things could result in a loss of approximately £600,000 per annum until such a time as normal business activity resumes. The trustees have decided that it is therefore prudent to keep approximately 3 years' assumed losses in reserve, which would amount to £1,800,000. This is entitled the Financial Risk Reserve.

The trustees have then set aside a number of other designated funds:

• A Depreciation Reserve of £2,566,317 has been established equivalent to the value of Depreciable Fixed Assets; these are the three centres which provide all animal welfare capability.

• An Investment Reserve of £2,141,233 has been established consisting of our Agricultural and other rental assets in Lincolnshire, and other investments which generate essential annual investment income towards our operating costs.

The net result of these various Reserves and Designated Funds is that all the Trustees consider that a Free Reserve for day to day cash flow management should be maintained; this would currently be in the order of £1,200,000.

Restricted income from donations is spent in accordance with the donors' wishes.

MARGARET GREEN ANIMAL RESCUE

TRUSTEES' REPORT

Achievements and performance

Our Key Performance Indicators (KPIs) cover Finances, Animal Care, and Customer Care.

A statement of our Financial Performance is detailed above.

Our overall animal movements during this period have decreased due to the pandemic. The total animals in our care throughout the period declined by some 20% although we have seen a slight increase in stray dogs being placed with us by local authorities which is also a concern. Being closed down by Covid restrictions for part of the year we rehomed 613 animals in 2020/21 (837 in 2019/20).

Our Charity Shops have been increased to six in number and we are delighted to report that the financial contribution from these shops is further increasing, clearly demonstrating that the value of our investment in shops and a very successful retail team.

We continue to seek regular feedback from all our customers and supporters and are pleased to receive extremely positive messages of support and thanks alike. Being a local and regional Charity shows that we have a greater relevance to those in our communities.

Plans for future periods

Aims and key objectives for future periods

Our immediate aim is to continue to rehome all animal species where they are most likely to enjoy a full and happy life, and to generate funding to provide the standard of care which is required to do this.

Longer term our aims are to make better use of the land resource we have available to enable us to increase the number of animals which we can assist.

The Board of Trustees is delighted to have been able to appoint a new Chief Executive who has extensive experience of the animal welfare sector. We will work with the new CEO during 2022 to prepare and implement a 3 year strategic plan. In addition to further investment in animal facilities, we anticipate developing major plans for visitor engagement and education at our main Church Knowle centre.

In addition to the refurbishment of animal facilities undertaken across all three centres during the reporting period we have now commenced a major project at our Wingletang Rescue and Rehoming Centre to replace our ageing cattery; we envisage this will complete in April 2022. We are also commencing the refurbishment of our main kennel block at Wingletang. This will be a much needed improvement as we again aim to bring these areas up to the current standard for animal welfare. Neither of these have been updated for 20 years and we do not feel they offer the best possible facilities for the rescue dogs and cats that come into the centre.

Within our new strategic plan is expected to be a further development of our Retail offer with plans for further shops if considered suitable by the Board of Trustees.

Risk Management

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems and reports have been established so that necessary steps can be taken to manage these risks. This is reviewed at every meeting of the trustees.

MARGARET GREEN ANIMAL RESCUE

TRUSTEES' REPORT

Structure, governance and management

Nature of governing document

The charity operated since it was founded in 1965 as an “unincorporated” organisation. Following new Charity Commission guidance we changed our legal status into a “Charitable Incorporated Organisation” (CIO) as of the 1st October 2016. The charity now has a new charity number, but its aims and objectives remain the same. The Board of Trustees govern the charity, and into which were transferred all the assets and liabilities of the previous charity.

Trustees are appointed following recognition by the board of a desirable skills or expertise shortage, and recruited following recommendations by trustees. All trustees receive an induction into the charity including visits to the rescue centres, and governance and financial information in accordance with Charity Commission guidelines. The charity currently has 6 Trustees who meet every other month to review the activities and the performance of the charity, including financial reviews, operational issues, and risk management.

Day to day management of the charity is delegated to the Chief Executive, who is assisted by a management team running the Rescue Centres and Commercial businesses.

In April 2016 a Trading Company was created to separate the risks of the commercial operations from the charity’s activities. The Trading Company incorporates all income from commercial boarding, online sales, and retail activity.

Staff remuneration is reviewed annually and considers the current financial performance of the charity, statutory requirements in respect of minimum/living wage limits, current rate of inflation and comparable pay rates within the charity sector.

Governing Document

The Constitution of the Charitable Incorporated Organisation was registered with the Charity Commission on the 1st July 2016.

Disclosure 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 to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 5 May 2022 and signed on its behalf by:

Mr M Devereux Trustee

Mr A Simons Trustee

MARGARET GREEN ANIMAL RESCUE

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are of Margaret Green Animal Rescue are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of incoming resources and application of resources of the charity for that period.In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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 Charities (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 the trustees of the charity on 5 May 2022 and signed on its behalf by:

Mr M Devereux Trustee

Mr A Simons Trustee

MARGARET GREEN ANIMAL RESCUE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MARGARET GREEN ANIMAL RESCUE

Opinion

We have audited the financial statements of Margaret Green Animal Rescue (the 'parent charity') and its subsidiaries (the 'group') for the year ended 30 September 2021, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, 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 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 group and parent charity 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 obtained 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 to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MARGARET GREEN ANIMAL RESCUE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MARGARET GREEN ANIMAL RESCUE

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 6), 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances 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 detecting irregularities, including fraud is detailed below:

MARGARET GREEN ANIMAL RESCUE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MARGARET GREEN ANIMAL RESCUE

We evaluated the trustees' and management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the prinicipal risks were related to the posting of manual journals to manipulate financial performance, management bias through judgements and assumptions is significant accounting estimates, in particular in relation to the recognition of legacy income and significant one-off or unusual transactions.

As part of the audit we gained an understanding of the legal and regulatory framework and carried out the following;

• Performed audit procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• Challenging assumptions made by management in their significant accounting estimates

Because of our inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularaties occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

MARGARET GREEN ANIMAL RESCUE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MARGARET GREEN ANIMAL RESCUE

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. Our audit work has been undertaken so that we might state to the group's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Edwards & Keeping (Statutory Auditor)

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

24 May 2022

Edwards & Keeping is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

MARGARET GREEN ANIMAL RESCUE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/losses on investment
assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
24		 Unrestricted
funds
£
1,316,407
111,840
406,560
139,154
1,973,961
(327,007)
(1,349,721)
(1,676,728)
107,041
404,274
94,889
499,163
7,512,961
8,012,124		 Restricted
funds
£
46,582
-
-
-
46,582
(128)
(3,113)
(3,241)
-
43,341
(94,889)
(51,548)
57,576
6,028		 Total
2021
£
1,362,989
111,840
406,560
139,154
2,020,543
(327,135)
(1,352,834)
(1,679,969)
107,041
447,615
-
447,615
7,570,537
8,018,152		 Total
2020
£
858,119
139,641
328,870
133,460
1,460,090
(268,562)
(1,394,572)
(1,663,134)
(128,218)
(331,262)
-
(331,262)
7,901,799
7,570,537

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 24.

MARGARET GREEN ANIMAL RESCUE

(REGISTRATION NUMBER: 1167990) CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2021

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due within one year
19
Net current assets
Net assets
Funds of the group:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
24		 2021
£
2,566,317
3,759,314
6,325,631
10,748
687,228
1,094,120
1,792,096
(99,575)
1,692,521
8,018,152
6,028
8,012,124
8,018,152		 2020
£
2,503,573
4,186,627
6,690,200
11,530
447,882
501,470
960,882
(80,545)
880,337
7,570,537
57,576
7,512,961
7,570,537

The financial statements on pages 11 to 37 were approved by the trustees, and authorised for issue on 5 May 2022 and signed on their behalf by:

Mr M Devereux Trustee

Mr A Simons Trustee

MARGARET GREEN ANIMAL RESCUE

(REGISTRATION NUMBER: 1167990) BALANCE SHEET AS AT 30 SEPTEMBER 2021

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due within one year
19
Net current assets
Net assets
Funds of the charity:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
24		 2021
£
2,540,704
3,759,414
6,300,118
725,761
1,002,012
1,727,773
(88,438)
1,639,335
7,939,453
6,028
7,933,425
7,939,453		 2020
£
2,481,493
4,186,727
6,668,220
506,615
451,320
957,935
(71,835)
886,100
7,554,320
57,576
7,496,744
7,554,320

The financial statements on pages 11 to 37 were approved by the trustees, and authorised for issue on 5 May 2022 and signed on their behalf by:

Mr M Devereux Trustee

Mr A Simons Trustee

MARGARET GREEN ANIMAL RESCUE

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Note
Cash flows from operating activities
Net cash income/(expenditure)
Adjustments to cash flows from non-cash items
Depreciation
10
Investment income
6
Revaluation of investments
Working capital adjustments
Decrease in stocks
17
(Increase)/decrease in debtors
18
Increase/(decrease) in creditors
19
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
6
Purchase of tangible fixed assets
15
Rental income
6
Purchase of investments
Sale of investments
Investment transfer from cash
Income from dividends
6
Net cash flows from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 October
Cash and cash equivalents at 30 September		 2021
£
447,615
129,132
(139,154)
(104,964)
332,629
782
(239,346)
19,030
113,095
327
(191,876)
78,224
(240,385)
526,932
245,730
60,603
479,555
592,650
501,470
1,094,120		 2020
£
(331,262)
127,544
(133,460)
136,218
(200,960)
2,352
36,450
(2,571)
(164,729)
4,775
(51,789)
69,029
(2,213,914)
1,992,763
-
59,656
(139,480)
(304,209)
805,679
501,470

All of the cash flows are derived from continuing operations during the above two periods.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Charity status

Margaret Green Animal Rescue is a registered charitable incorporated organisation (CIO), registration number 1167990, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The nature of the charity's operations and principal activities are described in the Trustees' annual report.

The address of its registered office is: Margaret Green Animal Rescue Church Knowle Wareham Dorset BH20 5NQ

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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) published October 2019. They also comply with the Charities Act 2011.

Basis of preparation

Margaret Green Animal Rescue 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 notes.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

Departures from the Charities Regulations

The financial statements have been prepared to give a ' true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 (FRS102) published October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 30 September 2021.

No statement of financial activities is presented for the charity as permitted by Charities SORP. The charity made a surplus after tax for the financial year of £385,132 (2020- deficit of £332,277).

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.

Going concern

The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group.

Judgements

The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements: The recognition of legacies.

Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

The measurement of legacy debtors. Legacies are accounted for when the receipt is probable and the value can be reliably measured. Legacies are accrued as at 30 September 2021 were £511,350 (2020 -£297,437).

The measurement of fair value of the investment property. Investment property is included at the trustee's best belief of fair value. Investment property is valued at £2,141,233 (2020:£2,141,233).

Income and endowments

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 the income receivable can be measured reliably.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity.

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources expended when they are distributed. They are valued at the amount the charity would have to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have to pay to acquire the.

Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).

Gift aid

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Investment income

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 bank.Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Charitable activities

Income from charitable activities includes income recognised as earned (as the goods or services are provided) under contract.

Other income

Rents receivable are accounted for on an accruals basis. Retail income is recognised at the point of sale.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially 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 to charitable purposes.

Tangible fixed assets

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Asset class

Depreciation method and rate

Freehold buildings 50 years straight line basis Equipment and fittings 25%-35% reducing balance basis Motor Vehicles 4 years straight line basis Site Improvements 20 years straight line basis IT equipment 4 years straight line basis Shop fittings 6 years straight line basis

Investment properties

Freehold land and buildings which are held primarily for either rental income or capital appreciation are included at fair value.

Unrealised gains and losses represent the movement in fair values during the year and are credited or charged to the Statement of Financial Activities based on the fair value at the year end.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at fair value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their fair value at the start of the year, 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 fair values during the year and are credited or charged to the Statement of Financial Activities based on the fair value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out basis (FIFO).

Items donated for resale or distribution are not included in the financial statements until they are sold or distibuted.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Concessionary loans

Concessionary loans include those receivable from third parties which are interest free or below market rates and are made to advance charitable purposes. All loans are measured at cost, less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the group.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Designated funds include:

Financial risk reserve, which is maintained in order to mitigate the risk of identified financial risks.

An investment reserve, which is designed to match the value of investment property and cash held for investment property investment at the year-end.

A depreciation reserve, which is designed to match the net book value of land and depreciable tangible fixed assets at the year end.

Under the terms of the Trust Deed, the Trustees may at any time, at their discretion, apply the whole or any part of the capital of the Charity towards the objects of the Charity.

Further details of each fund are disclosed in note 21.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contibution plan for the benefit of its employees. Contributions are expensed as they become payable.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Legacies
Gift aid reclaimed
Grants, including capital grants;
Government grants
Grants from other charities		 Unrestricted
funds
General
£
202,756
886,796
28,050
198,805
-
1,316,407		 Restricted
funds
£
44,782
-
-
-
1,800
46,582		 Total
2021
£
247,538
886,796
28,050
198,805
1,800
1,362,989		 Total
2020
£
227,536
347,006
29,492
192,985
61,100
858,119

4 Income from charitable activities

Other income
Adoptions
Boarding
5
Income from other trading activities
Trading income;
Shop income from sale of donated goods and
services
Trading company
Local fundraising and street collection income		 Unrestricted
funds
General
£
28,998
62,708
20,134
111,840
Unrestricted
funds
General
£
4,423
339,843
62,294
406,560		 Total
2021
£
28,998
62,708
20,134
111,840
Total
2021
£
4,423
339,843
62,294
406,560		 Total
2020
£
42,507
82,803
14,331
139,641
Total
2020
£
4,852
288,845
35,173
328,870

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

6 Investment income

Unrestricted funds

Unrestricted
funds
Income from dividends;
Dividends receivable from other listed
investments
Interest receivable and similar income;
Interest receivable on bank deposits
Income from rents		 General
£
60,603
327
78,224
139,154		 Total
2021
£
60,603
327
78,224
139,154		 Total
2020
£
59,656
4,775
69,029
133,460

7 Expenditure on raising funds

a) Investment management costs

Costs of generating donations and
legacies
Costs of trading activities
Investment management costs		 Unrestricted
Funds
£
10,244
309,232
7,531
327,007		 Restricted
funds
£
128
-
-
128		 Total
2021
£
10,372
309,232
7,531
327,135		 Total
2020
£
2,963
256,067
9,532
268,562

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

8 Expenditure on charitable activities

Food and consumables
Veterinary fees- Beau operation
Veterinary fees -Winnie
Veterinary fees-Rex
Veterinary fees - Tilly operation
Veterinary fees
Wages and salaries
Staff NIC (Employers)
Employers pension
Rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Computer software and
maintenance costs
Printing, postage and stationery
Sundry expenses
Cleaning, clothing, health and
safety
Motor expenses
Advertising
Redundancy costs
Trade subscriptions
Wages and salaries-Admin &
marketing
Staff NIC (Employers)-Admin &
marketing
Staff training
Staff welfare
Staff recruitment
Legal and professional fees
Bank charges
Credit card charges
Depreciation of freehold property
Depreciation of short leasehold
property
Depreciation of fixtures and fittings
Depreciation of motor vehicles
Governance costs		 Activity
undertaken
directly
£
14,909
225
1,855
-
1,033
108,310
591,893
39,152
13,235
17,055
44,033
11,037
67,121
23,565
29,990
12,524
81
12,104
13,902
13,159
2,845
715
-
-
-
-
-
-
-
-
-
-
-
-
-
1,018,743		 Activity
support
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
177,692
14,878
1,586
1,280
150
7,361
4,855
254
50,899
32,190
12,361
23,019
7,566
334,091		 Total
2021
£
14,909
225
1,855
-
1,033
108,310
591,893
39,152
13,235
17,055
44,033
11,037
67,121
23,565
29,990
12,524
81
12,104
13,902
13,159
2,845
715
177,692
14,878
1,586
1,280
150
7,361
4,855
254
50,899
32,190
12,361
23,019
7,566
1,352,834		 Total
2020
£
19,608
-
-
1,384
-
114,275
615,184
37,254
12,505
20,202
43,478
10,274
70,114
21,245
29,920
13,937
152
21,153
14,362
8,423
-
715
176,736
14,527
795
2,410
314
10,413
4,962
245
60,549
23,966
11,710
24,659
9,101
1,394,572

£1,350,730 of the above expenditure was attributable to unrestricted funds (2020: £1,393,188) and £3,113 (2020:£1,384) to restricted funds.

MARGARET GREEN ANIMAL RESCUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

9 Analysis of governance and support costs

Governance costs

Audit fees
Audit of the financial statements
Trustees remuneration and expenses
Other governance costs		 Unrestricted
funds
General
£
6,048
672
846
7,566		 Total
2021
£
6,048
672
846
7,566		 Total
2020
£
7,855
585
661
9,101

10 Net incoming/outgoing resources

Net incoming/(outgoing) resources for the year include:

Audit fees
Depreciation of fixed assets		 2021
£
6,048
129,132		 2020
£
7,550
128,482

11 Trustees remuneration and expenses

During the year the group made the following transactions with trustees:

Mr M Devereux

£672 (2020: £585) of expenses were reimbursed to Mr M Devereux during the year, all of which was donated back to the Charity with Gift Aid benefit.

£606 was costs met by the charity for trustees meetings attended by all trustees and the cost of one trustee visiting other animal centres.

No trustees, nor any persons connected with them, have received any remuneration from the group during the year.

No trustees have received any other benefits from the charity during the year.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

12 Staff costs

The aggregate payroll costs were as follows:

2021 2020
£ £
Staff costs during the year were:
Wages and salaries 927,859 926,287
Social security costs 63,840 74,588
Employers' pension 15,697 14,780
1,007,396 1,015,655

The monthly average number of persons (including senior management team) employed by the group during the year expressed as full time equivalents was as follows:

Admin
Marketing and fundraising
Retail
Church Knowle
Lincoln Farm
Wingletang		 2021
No
5
4
10
17
9
8
53		 2020
No
5
4
9
20
13
8
59

The number of employees whose emoluments fell within the following bands was:

£60,001 - £70,000
13 Auditors' remuneration
Audit of the financial statements		 2021
No
1
2021
£
6,048		 2020
No
1
2020
£
7,855

14 Taxation

The group is a registered charity and is therefore exempt from taxation.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

15 Tangible fixed assets

Group

Cost
At 1 October 2020
Additions
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Land and
buildings
£
2,761,652
178,729
2,940,381
314,767
92,114
406,881
2,533,500
2,446,885		 Furniture
and
equipment
£
82,232
13,147
95,379
53,475
12,361
65,836
29,543
28,757		 Motor
vehicles
£
110,725
-
110,725
82,794
24,657
107,451
3,274
27,931		 Total
£
2,954,609
191,876
3,146,485
451,036
129,132
580,168
2,566,317
2,503,573

Included within the net book value of land and buildings above is £2,510,152 (2020 - £2,048,229) in respect of freehold land and buildings and £23,348 (2020 - £398,656) in respect of leaseholds.

Charity

Cost
At 1 October 2020
Additions
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Land and
buildings
£
2,723,036
164,533
2,887,569
293,319
83,089
376,408
2,511,161
2,429,717		 Furniture
and
equipment
£
82,232
13,147
95,379
53,475
12,361
65,836
29,543
28,757		 Motor
vehicles
£
104,175
-
104,175
81,156
23,019
104,175
-
23,019		 Total
£
2,909,443
177,680
3,087,123
427,950
118,469
546,419
2,540,704
2,481,493

Included within the net book value of land and buildings above is £2,510,152 (2020 - £2,429,717 ) in respect of freehold land and buildings and £1,009 (2020-£Nil ) in respect of leaseholds.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

16 Fixed asset investments

Group
Investment properties
Other investments		 2021
£
2,141,233
1,618,081
3,759,314		 2020
£
2,141,233
2,045,394
4,186,627

Investment properties

Cost or Valuation
At 1 October 2020
Provision
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Investment
properties
£
2,141,233
-
2,141,233
2,141,233

The charitable incorporated organisation owns two investment properties.

The first investment property was valued at £965,000 at January 2019 and the trustees believe this to still reflect the fair value.

In relation to the second property the trustees consider the purchase price in the previous year of £1,176,233 to be the equivalent of the fair value as at 30 September 2021.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Other investments

Other investments
Cost or Valuation
At 1 October 2020
Revaluation
Additions
Disposals
At 30 September 2021
Transfer from cash
Net book value
At 30 September 2021
At 30 September 2020		 Hermes
investments
£
1,052,053
44,952
-
(526,024)
570,981
-
570,981
1,052,053		 Redmayne
Bentley
£
993,341
60,012
240,385
(908)
1,292,830
(245,730)
1,047,100
993,341		 Total
£
2,045,394
104,964
240,385
(526,932)
1,863,811
(245,730)
1,618,081
2,045,394

The investments were valued by Hermes Property Trust Limited based on the bid market price as at 30 September 2021.

The Redmayne Bentley investments were valued at the closing market price as at 30 September 2021.

Charity

Charity
Investment properties
Shares in group undertakings and participating interests
Other investments		 2021
£
2,141,233
100
1,618,081
3,759,414		 2020
£
2,141,233
100
2,045,394
4,186,727

Investment properties

Investment properties
Cost or Valuation
At 1 October 2020
Provision
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020
There has been no valuation of investment property by an independent valuer.		 Investment
properties
£
2,141,233
-
2,141,233
2,141,233

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Shares in group undertakings and participating interests

Cost
At 1 October 2020
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020
Other investments
Cost or Valuation
At 1 October 2020
Revaluation
Additions
Disposals
At 30 September 2021
Transfer from cash
Net book value
At 30 September 2021
At 30 September 2020
17 Stock
Finished goods		 Subsidiary
undertakings
£
100
100
100
100
Hermes
investments
£
Redmayne
Bentley
£
1,052,053
993,341
44,952
60,012
-
240,385
(526,024)
(908)
570,981
1,292,830
-
(245,730)
570,981
1,047,100
1,052,053
993,341
Group
2021
£
2020
£
10,748
11,530		 Total
£
100
100
100
100
Total
£
2,045,394
104,964
240,385
(526,932)
1,863,811
(245,730)
1,618,081
2,045,394
Charity
2021
£
-

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

18 Debtors

Trade debtors
Due from group undertakings
Prepayments
Other debtors and accrued income
VAT recoverable
Other debtors		 Group
2021
£
2020
£
1,724
6,993
-
-
85,395
27,424
587,547
400,826
11,780
12,639
782
-
687,228
447,882		 Charity
2021
£
2020
£
1,724
6,993
85,541
91,752
68,174
17,452
569,540
386,615
-
3,803
782
-
725,761
506,615		 Charity
2021
£
2020
£
1,724
6,993
85,541
91,752
68,174
17,452
569,540
386,615
-
3,803
782
-
725,761
506,615
506,615

Charity debtors includes £57,500 receivable after more than one year.

19 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
VAT grant repayable
Other creditors
Accruals		 Group
2021
£
2020
£
36,813
39,757
30,566
15,170
898
-
5,405
4,223
25,893
21,395
99,575
80,545		 Charity
2021
£
2020
£
33,192
38,984
30,566
15,170
898
-
5,120
4,224
18,662
13,457
88,438
71,835		 Charity
2021
£
2020
£
33,192
38,984
30,566
15,170
898
-
5,120
4,224
18,662
13,457
88,438
71,835
71,835

20 Operating lease income

Total future minimum lease income under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years
After five years		 Group
2021
£
2020
£
67,500
67,500
270,000
270,000
270,000
337,500
607,500
675,000		 Charity
2021
£
2020
£
67,500
67,500
270,000
270,000
270,000
337,500
607,500
675,000		 Charity
2021
£
2020
£
67,500
67,500
270,000
270,000
270,000
337,500
607,500
675,000
675,000

21 Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £13,235 (2020 £12,505).

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

22 Commitments

Group

Capital commitments

The charity has begun a number of projects to build a new cattery and to upgrade dog kennel facillties at the Wingletang site. The expected cost of all these projects is expected to be in the region of £750,000 to £1 million.

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £245,849 (2020-£178,433).

23 Contingent assets

Group

The charity received residual legacies post year end of £53,193 which for which amounts were not agreed before 30 September 2021 but the charity was aware of a potential entitlement..

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

24 Funds

Group

Balance at
1 October
2020
£
Unrestricted funds
General
General
Funds
1,188,155
Designated
Depreciation
Reserve
2,503,573
Investment
Reserve
2,141,233
Financial Risk
1,680,000
6,324,806
Total
unrestricted
funds
7,512,961
Restricted
funds
Rabbit Area
5,376
Sand School
32,200
Cabin Appeal
20,000
Kennel
refurbishment
-
Road to
recovery
-
WT New
cattery
-
Tilly
operations
-
Beau
operation
-
Total restricted
funds
57,576
Total funds
7,570,537		 Incoming
resources
£
1,973,961
-
-
-
-
1,973,961
-
800
-
30,757
1,855
11,912
1,033
225
46,582
2,020,543		 Resources
expended
£
(1,547,596)
(129,132)
-
-
(129,132)
(1,676,728)
-
-
-
(128)
(1,855)
-
(1,033)
(225)
(3,241)
(1,679,969)		 Transfers
£
Other
recognised
gains/(losses)
£
(216,987)
107,041
191,876
-
-
-
120,000
-
311,876
-
94,889
107,041
(4,379)
-
(30,450)
-
(20,000)
-
(30,629)
-
-
-
(9,431)
-
-
-
-
-
(94,889)
-
-
107,041		 Balance at
30
September
2021
£
1,504,574
2,566,317
2,141,233
1,800,000
6,507,550
8,012,124
997
2,550
-
-
-
2,481
-
-
6,028
8,018,152

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Balance at
1 October
2019
£
Unrestricted funds
General
General
Funds
970,777
Designated
Depreciation
Reserve
2,579,328
Investment
Reserve
2,671,694
Financial Risk
1,680,000
6,931,022
Total
unrestricted
funds
7,901,799
Restricted
funds
Rabbit Area
-
Sand School
-
Rex operation
-
Cabin Appeal
-
Total restricted
funds
-
Total funds
7,901,799		 Incoming
resources
£
1,401,130
-
-
-
-
1,401,130
5,376
32,200
1,384
20,000
58,960
1,460,090		 Resources
expended
£
(1,534,206)
(127,544)
-
-
(127,544)
(1,661,750)
-
-
(1,384)
-
(1,384)
(1,663,134)		 Transfers
£
Other
recognised
gains/(losses)
£
478,672
(128,218)
51,789
-
(530,461)
-
-
-
(478,672)
-
-
(128,218)
-
-
-
-
-
-
-
-
-
-
-
(128,218)		 Balance at
30
September
2020
£
1,188,155
2,503,573
2,141,233
1,680,000
6,324,806
7,512,961
5,376
32,200
-
20,000
57,576
7,570,537

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Charity

Balance at
1 October
2020
£
Unrestricted funds
General
General
1,215,429
Designated
Depreciation
Reserve
2,460,082
Investment
Reserve
2,141,233
Financial Risk
1,680,000
6,281,315
Total
Unrestricted
funds
7,496,744
Restricted
funds
Rabbit Area
5,376
Sand School
32,200
Cabin Appeal
20,000
Kennel
refurbishment
-
Road to
recovery
-
WT New
Cattery
-
Tilly operation
-
Beau
operation
-
Total restricted
funds
57,576
Total funds
7,554,320		 Incoming
resources
£
1,602,247
-
-
-
-
1,602,247
-
800
-
30,757
1,855
11,912
1,033
225
46,582
1,648,829		 Resources
expended
£
(1,248,757)
(118,739)
-
-
(118,739)
(1,367,496)
-
-
-
(128)
(1,855)
-
(1,033)
(225)
(3,241)
(1,370,737)		 Transfers
£
Other
recognised
gains/(losses)
£
(224,472)
107,041
199,361
-
-
-
120,000
-
319,361
-
94,889
107,041
(4,379)
-
(30,450)
-
(20,000)
-
(30,629)
-
-
-
(9,431)
-
-
-
-
-
(94,889)
-
-
107,041		 Balance at
30
September
2021
£
1,451,488
2,540,704
2,141,233
1,800,000
6,481,937
7,933,425
997
2,550
-
-
-
2,481
-
-
6,028
7,939,453

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Balance at
1 October
2019
£
Unrestricted funds
General
General
955,576
Designated
Depreciation
Reserve
2,579,328
Investment
Reserve
2,671,694
Financial Risk
1,680,000
6,931,022
Total
unrestricted
funds
7,886,598
Restricted
funds
Rabbit Area
-
Rex Operation
-
Sand School
-
Cabin Appeal
-
Total restricted
funds
-
Total funds
7,886,598		 Incoming
resources
£
1,142,411
-
-
-
-
1,142,411
5,376
1,384
32,200
20,000
58,960
1,201,371		 Resources
expended
£
(1,284,801)
(119,246)
-
-
(119,246)
(1,404,047)
-
(1,384)
-
-
(1,384)
(1,405,431)		 Transfers
£
Other
recognised
gains/(losses)
£
530,461
(128,218)
-
-
(530,461)
-
-
-
(530,461)
-
-
(128,218)
-
-
-
-
-
-
-
-
-
-
-
(128,218)		 Balance at
30
September
2020
£
1,215,429
2,460,082
2,141,233
1,680,000
6,281,315
7,496,744
5,376
-
32,200
20,000
57,576
7,554,320

The specific purposes for which the funds are to be applied are as follows:

The Sand School restricted fund was money raised to remove and repair the Sand School surface, to update the drainage and erect new fencing to allow our rescued horses to use the Sand School. The Cabin Appeal was to raise funds for a portacabin at the Church Knowle site. The Cattery appeal is to raise monies for ongoing refurbishment to the Wingletang Cattery. The Kennels fund raised monies for the refubishment of the Wingletang Kennels.

Transfers from the restricted funds to the depreciation reserve were made to reflect the monies spent on fixed assets.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

25 Analysis of net assets between funds

Group

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Charity
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
2,566,317
1,618,081
2,141,233
(13,932)
1,800,000
(99,575)
-
1,504,574
6,507,550
Unrestricted funds
General
£
Designated
£
-
2,540,704
1,618,181
2,141,233
(78,255)
1,800,000
(88,438)
-
1,451,488
6,481,937		 Restricted
funds
£
-
-
6,028
-
6,028
Restricted
funds
£
-
-
6,028
-
6,028		 Total funds
£
2,566,317
3,759,314
1,792,096
(99,575)
8,018,152
Total funds
£
2,540,704
3,759,414
1,727,773
(88,438)
7,939,453

26 Analysis of net funds

Group

Cash at bank and in hand
Net debt
Charity
Cash at bank and in hand
Net debt		 At 1 October
2020
£
501,470
501,470
At 1 October
2020
£
451,320
451,320		 Cash flow
£
592,651
592,651
Cash flow
£
550,692
550,692		 At 30
September
2021
£
1,094,120
1,094,120
At 30
September
2021
£
1,002,012
1,002,012

MARGARET GREEN ANIMAL RESCUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

27 Related party transactions

Charity

During the year the charity made the following related party transactions:

Margaret Green Animal Rescue (Trading) Limited

((Margaret Green Animal Rescue holds 100% of the issued share capital))

Management fess were charged to Margaret Green Animal Rescue (Trading) Limited totalling £6,000 (2020:£6,000) and internal recharges totalling £55,838 (2020:£87,601) in relation to boarding costs for the year. At the year end £19,554 (2020:£26,795 due from) was due to Margaret Green Animal Rescue (Trading) Limited in respect of net debtor and creditor balances. A further £2,042 was owed by the trading company to the CIO in relation to expenses paid on its behalf.

A concessionary loan has been provided to Margaret Green Animal Rescue (Trading) Limited totalling £Nil (2020: £Nil) in the year and repayments of £nil (2020:£6,000) were made during the year. At the year end the total loan balance due from Margaret Green Animal Rescue (Trading) Limited was £63,945 (2020:£62,083). Interest at 3% was charged on the loan amounting to £1,862 (2020: £1,808.)

A donation of £nil (2020: £2,600) was made to the charity from it's trading subsidiary Margaret Green Animal Rescue (Trading) Limited.

At the year end £100 was due in respect of share capital and is included in other creditors. At the balance sheet date the amount due from Margaret Green Animal Rescue (Trading) Limited was £85,541 (2020:£91,752).