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2022-09-30-accounts

Charity registration number: 1167990

MARGARET GREEN ANIMAL RESCUE (A CHARITABLE INCORPORATED ORGANISATION) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 (resigned 7 June 2022)
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 2022.

Trustees' Report 2021/22

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 and people that we touch.

The effects of the pandemic still resonate and in the latter part of the year, the war in Ukraine added to a challenging financial situation with the rise of a ‘cost of living’ crisis and in particular higher fuel prices. Many of the employees working at our three centres travel a significant distance to work and this gave rise to concerns of affordability to work for us due to increased cost of travel as well as other financial pressure. In order to extend help to our employees and to maintain a valuable work force to care for the animals at our centres, a 6mth petrol subsidy payment was agreed for those with the longest journeys, lasting until September 2022.

As the country slowly began post-pandemic life, we saw further evidence of the effects of an increase of over 1 million new dogs (mainly puppies) having been acquired during the lockdown years. Many more dogs now offered to rescue have significant medical and behavioural issues, creating a slowdown in rehoming with less space to take in needy animals and increased cost.

Expenditure has been carefully managed to ensure we not only meet our obligations of daily care for animals, but also to improve terms and conditions for our employees and facilities for animals in the longer term. Whilst legacy still underpins our annual income, the growth in profitable trading from our Charity Shops will become more important going forward with increased trading revenues having been achieved this year.

A 3 yr. strategic plan was commissioned and delivered by the CEO in September 2022 and this now sets our course for the medium term with annual business plans defining priorities.

We do recognise the dedication and care delivered by all members of our teams including volunteers and supporters, without whom we could not have maintained the high standards of operation in such difficult conditions and we thank them sincerely.

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 a financial deficit of £217,497 compared to a surplus of £447,615 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.

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 in reserve an amount of £1,200,000. This is entitled the Financial Risk Reserve.

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

• A Depreciation Reserve of £3,020,004 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 £2,171,233 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 £800,000.

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

Achievements and performance

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

A statement of our Financial Performance is detailed above.

Animal movements increased by 50% at our Wingletang centre as the new cattery came on line and post pandemic dog numbers increased. Numbers remained static at our Lincoln Farm Centre where the trend for increasing numbers of strays has carried on along with a more worrying trend of post-pandemic younger dogs with behaviour issues including lack of socialisation and training. Church Knowle movements decreased by 70% mainly due to a cattery refurbishment required to maintain our high standard boarding licence and the effects of an extended ‘bird flu’ season reducing throughput of rescue chickens and ducks significantly.

Our Charity Shops have further increased their efficiency thanks to excellent management and recruitment and despite the loss of up to 40% of volunteers due to the pandemic. They continue to provide a valuable income for the charity.

MARGARET GREEN ANIMAL RESCUE

TRUSTEES' REPORT

During the year, the new cattery at Wingletang was completed, creating high quality accommodation for both boarding and homeless cats. The first phase of the kennels refurbishment was also completed and the second phase commissioned. Once completed, Wingletang will have high quality accommodation for all occupants and the working conditions for the Wingletang team also improved significantly.

Feedback throughout the year from our supporters and visitors has been very positive. Church Knowle began, once again, to embrace visiting for the general public in March 2022 and has been open for 6 days weekly since that time. Our communities have responded through engagement and visiting and in particular our Country Dog Show at Church Knowle was magnificently attended in August and produced a substantial surplus for the charity.

Plans for future periods

Aims and key objectives for future periods

We will continue to rehome all animal species that we have the capability to take in and provide high quality care, whilst finding suitable long term homes. To sustain this aim we need to generate the funding to maintain this and also to make progressive improvements to both accommodation and staff expertise.

Wingletang and Lincoln Farm have received significant investment over the last decade and now we must turn to the Church Knowle Centre to bring some of the older buildings up to standard and create a compelling visitor experience via site interpretation and remodelling of the entrance and reception areas. The car parking area creates certain restrictions for visitor footfall and plans to increase this area are in train.

The 3 yr. strategic plan sets out a number of objectives for the future in six key areas; Finance, Animal Welfare, Education, Communication, Commerce and People. New mission, vision and values have been established and an annual business plan will be produced to dovetail with the budget process and set out annual priorities derived from the strategic plan. A new performance framework for employees is being established to better devolve objectives and responsibilities within the overall planning process creating more cohesive teamwork. A new working pattern at each centre will be trialled to potentially extend the current 8 hour working day to 12 hours thus spending 4 hrs more each day delivering hands on care to our animals.

Future consolidation and growth will be underpinned by our ability to grow income and to this end a number of commercial projects will be developed and the retail charity shop portfolio will be extended to include a ‘superstore’. Building on the success of Margaret Green Animal Rescue (Trading) Limited, a strategic retail plan will be developed to increase revenue significantly over the next 3 years.

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 28 March 2023 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 constitution. 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 28 March 2023 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 2022, 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:

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.

MARGARET GREEN ANIMAL RESCUE

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

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.

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.

MARGARET GREEN ANIMAL RESCUE

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

Edwards & Keeping (Statutory Auditor)

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

26 April 2023

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 2022 (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 (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
23		 Unrestricted
funds
£
854,577
145,777
756,185
136,693
1,893,232
(457,741)
(1,603,656)
(2,061,397)
(51,302)
(219,467)
7,129
(212,338)
8,012,124
7,799,786		 Restricted
funds
£
1,970
-
-
-
1,970
-
-
-
-
1,970
(7,129)
(5,159)
6,028
869		 Total
2022
£
856,547
145,777
756,185
136,693
1,895,202
(457,741)
(1,603,656)
(2,061,397)
(51,302)
(217,497)
-
(217,497)
8,018,152
7,800,655		 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

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 23.

MARGARET GREEN ANIMAL RESCUE

(REGISTRATION NUMBER: 1167990) CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2022

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: Amounts falling due within one year
18
Net current assets
Net assets
Funds of the group:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
23		 2022
£
3,095,004
3,702,318
6,797,322
8,736
423,254
690,255
1,122,245
(118,912)
1,003,333
7,800,655
869
7,799,786
7,800,655		 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

The financial statements on pages 11 to 37 were approved by the trustees, and authorised for issue on 28 March 2023 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 2022

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
17
Cash at bank and in hand
Creditors: Amounts falling due within one year
18
Net current assets
Net assets
Funds of the charity:
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
23		 2022
£
3,078,653
3,702,418
6,781,071
455,538
567,184
1,022,722
(105,350)
917,372
7,698,443
869
7,697,574
7,698,443		 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

The financial statements on pages 11 to 37 were approved by the trustees, and authorised for issue on 28 March 2023 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 2022

Note
Cash flows from operating activities
Net cash (expenditure)/income
Adjustments to cash flows from non-cash items
Depreciation
10
Investment income
6
Revaluation of investments
Working capital adjustments
Decrease in stocks
16
Decrease/(increase) in debtors
17
Increase in creditors
18
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
6
Purchase of tangible fixed assets
14
Rental income
6
Purchase of investments
Sale of investments
Investment transfer from cash
Income from dividends
6
Net cash flows from investing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 October
Cash and cash equivalents at 30 September		 2022
£
(217,497)
128,345
(136,693)
51,302
(174,543)
2,012
263,974
19,337
110,780
478
(657,032)
78,326
(25,099)
45,000
(14,207)
57,889
(514,645)
(403,865)
1,094,120
690,255		 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

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 2022

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 2022.

No statement of financial activities is presented for the charity as permitted by Charities SORP. The charity made a deficit for the financial year of £241,010 (2021- surplus of £385,132).

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 2022 were £272,842 (2021 -£511,350).

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 £2,171,233 (2021:£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 2022

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 2022

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.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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:

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.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

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 constitution 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 24.

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 2022

3 Income from donations and legacies

Unrestricted
funds
General
£
Donations and legacies;
Donations from individuals
245,486
Legacies
580,400
Gift aid reclaimed
28,191
Grants, including capital grants;
Government grants
-
Grants from other charities
500
854,577
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		 Restricted
funds
£
670
-
-
-
1,300
1,970
Unrestricted
funds
General
£
36,759
67,519
41,499
145,777
Unrestricted
funds
General
£
7,552
679,524
69,109
756,185		 Total
2022
£
246,156
580,400
28,191
-
1,800
856,547
Total
2022
£
36,759
67,519
41,499
145,777
Total
2022
£
7,552
679,524
69,109
756,185		 Total
2021
£
247,538
886,796
28,050
198,805
1,800
1,362,989
Total
2021
£
28,998
62,708
20,134
111,840
Total
2021
£
4,423
339,843
62,294
406,560

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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
7
Expenditure on raising funds
Costs of generating donations and legacies
Costs of trading activities
Investment management costs		 General
£
57,889
478
78,326
136,693
Unrestricted
Funds
£
13,757
437,147
6,837
457,741		 Total
2022
£
57,889
478
78,326
136,693
Total
2022
£
13,757
437,147
6,837
457,741		 Total
2021
£
60,603
327
78,224
139,154
Total
2021
£
10,372
309,232
7,531
327,135

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

8 Expenditure on charitable activities

Food and consumables
Veterinary fees- Beau operation
Veterinary fees -Winnie
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
£
13,423
-
-
-
113,872
710,900
57,021
15,629
20,690
55,423
10,396
137,494
24,516
33,444
13,857
597
16,393
17,801
11,927
-
715
-
-
-
-
-
-
-
-
-
-
-
-
-
1,254,098		 Activity
support
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
167,950
14,669
2,609
10,562
2,444
10,519
6,863
244
59,200
40,606
15,964
3,313
14,615
349,558		 Total
2022
£
13,423
-
-
-
113,872
710,900
57,021
15,629
20,690
55,423
10,396
137,494
24,516
33,444
13,857
597
16,393
17,801
11,927
-
715
167,950
14,669
2,609
10,562
2,444
10,519
6,863
244
59,200
40,606
15,964
3,313
14,615
1,603,656		 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

£1,603,656 of the above expenditure was attributable to unrestricted funds (2021: £1,350,730) and £Nil (2021:£3,113) to restricted funds.

MARGARET GREEN ANIMAL RESCUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

9 Analysis of governance and support costs

Governance costs

Audit fees
Audit of the financial statements - charity
Trustees remuneration and expenses
Other governance costs		 Unrestricted
funds
General
£
10,053
2,234
2,328
14,615		 Total
2022
£
10,053
2,234
2,328
14,615		 Total
2021
£
6,048
672
846
7,566

10 Net incoming/outgoing resources

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

Audit fees-group
Other non-audit services
Depreciation of fixed assets		 2022
£
12,553
953
127,795		 2021
£
6,048
-
129,132

11 Trustees remuneration and expenses

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

Mr M Devereux

£2,234 (2021: £672) of expenses were reimbursed to Mr M Devereux during the year, of which £687.60 (2021:£672) was donated back to the Charity with Gift Aid benefit.

£1,835 (2021;£606) costs were 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 2022

12 Staff costs

The aggregate payroll costs were as follows:

2022 2021
£ £
Staff costs during the year were:
Wages and salaries 1,112,534 927,859
Social security costs 87,756 63,840
Employers' pension 19,115 15,697
1,219,405 1,007,396

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:

during the year expressed as full time equivalents was as follows:
Admin
Marketing and fundraising
Retail
Church Knowle
Lincoln Farm
Wingletang		 2022
No
5
4
14
16
12
10
61		 2021
No
5
4
10
17
9
8
53

Contributions to the employee pension schemes for the year totalled £19,115 (2021 - £15,697).

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

£60,001 - £70,000 2022
No
1		 2021
No
1

13 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 2022

14 Tangible fixed assets

Group

Cost
At 1 October 2021
Additions
At 30 September 2022
Depreciation
At 1 October 2021
Charge for the year
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 Land and
buildings
£
2,940,381
613,532
3,553,913
406,881
107,430
514,311
3,039,602
2,533,500		 Furniture
and
equipment
£
95,379
30,250
125,629
65,836
15,964
81,800
43,829
29,543		 Motor
vehicles
£
110,725
13,250
123,975
107,451
4,951
112,402
11,573
3,274		 Total
£
3,146,485
657,032
3,803,517
580,168
128,345
708,513
3,095,004
2,566,317

Included within the net book value of land and buildings above is £3,024,887 (2021 - £2,510,152) in respect of freehold land and buildings and £14,715 (2021 - £23,348) in respect of leaseholds.

Charity

Cost
At 1 October 2021
Additions
At 30 September 2022
Depreciation
At 1 October 2021
Charge for the year
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 Land and
buildings
£
2,887,569
613,532
3,501,101
376,408
99,806
476,214
3,024,887
2,511,161		 Furniture
and
equipment
£
95,379
30,250
125,629
65,836
15,964
81,800
43,829
29,543		 Motor
vehicles
£
104,175
13,250
117,425
104,175
3,313
107,488
9,937
-		 Total
£
3,087,123
657,032
3,744,155
546,419
119,083
665,502
3,078,653
2,540,704

Included within the net book value of land and buildings above is £3,024,887 (2021 - £2,511,161 ) in respect of freehold land and buildings and £Nil (2021-£Nil ) in respect of leaseholds.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

15 Fixed asset investments

Group
Investment properties
Other investments
Investment properties
Cost or Valuation
At 1 October 2021
Revaluation
At 30 September 2022
Provision
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 2022
£
2,171,233
1,531,085
3,702,318		 2021
£
2,141,233
1,618,081
3,759,314
Investment
properties
£
2,141,233
30,000
2,171,233
-
2,171,233
2,141,233

The charitable incorporated organisation owns two investment properties.

The first investment property was valued at £965,000 at January 2019, land included in this amount for £170,000 is currently being sold for £200,000 and the valuation has been increased by £30,000 to reflect this.

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 2022.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Other investments

Other investments
Cost or Valuation
At 1 October 2021
Revaluation
Additions
Disposals
At 30 September 2022
Transfer from cash
Net book value
At 30 September 2022
At 30 September 2021		 Hermes
investments
£
570,981
46,695
-
-
617,676
-
617,676
570,981		 Redmayne
Bentley
£
1,047,100
(127,997)
25,099
(45,000)
899,202
14,207
913,409
1,047,100		 Total
£
1,618,081
(81,302)
25,099
(45,000)
1,516,878
14,207
1,531,085
1,618,081

The investments were valued by Hermes Property Trust Limited based on the bid market price as at 30 September 2022.

The Redmayne Bentley investments were valued at the closing market price as at 30 September 2022.

Charity

2022
£
Investment properties
2,171,233
Shares in group undertakings and participating interests
100
Other investments
1,531,085
3,702,418
Investment properties
Cost or Valuation
At 1 October 2021
Revaluation
At 30 September 2022
Provision
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021
There has been no valuation of investment property by an independent valuer.		 2021
£
2,141,233
100
1,618,081
3,759,414
Investment
properties
£
2,141,233
30,000
2,171,233
-
2,171,233
2,141,233

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Shares in group undertakings and participating interests

Cost
At 1 October 2021
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021
Other investments
Cost or Valuation
At 1 October 2021
Revaluation
Additions
Disposals
At 30 September 2022
Transfer from cash
Net book value
At 30 September 2022
At 30 September 2021
16 Stock
Finished goods		 Subsidiary
undertakings
£
100
100
100
100
Hermes
investments
£
Redmayne
Bentley
£
570,981
1,047,100
46,695
(127,997)
-
25,099
-
(45,000)
617,676
899,202
-
14,207
617,676
913,409
570,981
1,047,100
Group
2022
£
2021
£
8,736
10,748		 Total
£
100
100
100
100
Total
£
1,618,081
(81,302)
25,099
(45,000)
1,516,878
14,207
1,531,085
1,618,081
Charity
2022
£
-

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

17 Debtors

Trade debtors
Due from group undertakings
Prepayments
Other debtors and accrued income
VAT recoverable
Other debtors		 Group
2022
£
2021
£
10,310
1,724
-
-
33,239
85,395
347,394
587,547
31,847
11,780
464
782
423,254
687,228		 Charity
2022
£
2021
£
10,310
1,724
82,358
85,541
15,203
68,174
328,821
569,540
18,482
-
364
782
455,538
725,761		 Charity
2022
£
2021
£
10,310
1,724
82,358
85,541
15,203
68,174
328,821
569,540
18,482
-
364
782
455,538
725,761
725,761

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

18 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
VAT creditor
Other creditors
Accruals		 Group
2022
£
2021
£
47,626
36,813
21,813
30,566
-
898
15,417
5,405
34,056
25,893
118,912
99,575		 Charity
2022
£
2021
£
42,182
33,192
21,813
30,566
-
898
15,038
5,120
26,317
18,662
105,350
88,438		 Charity
2022
£
2021
£
42,182
33,192
21,813
30,566
-
898
15,038
5,120
26,317
18,662
105,350
88,438
88,438

19 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
2022
£
2021
£
67,500
67,500
270,000
270,000
202,500
270,000
540,000
607,500		 Charity
2022
£
2021
£
67,500
67,500
270,000
270,000
202,500
270,000
540,000
607,500		 Charity
2022
£
2021
£
67,500
67,500
270,000
270,000
202,500
270,000
540,000
607,500
607,500

20 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 £19,115 (2021 £15,697).

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

21 Commitments

Group

Capital commitments

The charity has begun a project to build to upgrade dog kennel facillties at the Wingletang site. The expected cost of all this project is expected to be in the region of £147k.

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £161,349 (2021-£245,849).

22 Contingent assets

Group

The charity received residual legacies post year end of £Nil (2021: £53,193) which for which amounts were not agreed before 30 September 2022 but the charity was aware of a potential entitlement..

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

23 Funds

Group

Balance at
1 October
2021
£
Unrestricted funds
General
General
Funds
1,504,574
Designated
Depreciation
Reserve
2,566,317
Investment
Reserve
2,141,233
Financial Risk
1,800,000
6,507,550
Total
unrestricted
funds
8,012,124
Restricted
funds
Sand School
2,550
Rabbit Area
997
Kennel
refurbishment
-
WT New
cattery
2,481
Total restricted
funds
6,028
Total funds
8,018,152		 Incoming
resources
£
1,893,232
-
-
-
-
1,893,232
-
-
1,000
970
1,970
1,895,202		 Resources
expended
£
(1,933,052)
(128,345)
-
-
(128,345)
(2,061,397)
-
-
-
-
-
(2,061,397)		 Transfers
£
Other
recognised
gains/(losses)
£
25,097
(81,302)
582,032
-
-
30,000
(600,000)
-
(17,968)
30,000
7,129
(51,302)
(2,550)
-
(128)
-
(1,000)
-
(3,451)
-
(7,129)
-
-
(51,302)		 Balance at
30
September
2022
£
1,408,549
3,020,004
2,171,233
1,200,000
6,391,237
7,799,786
-
869
-
-
869
7,800,655

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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
Sand School
32,200
Rabbit Area
5,376
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
(30,450)
-
(4,379)
-
(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
2,550
997
-
-
-
2,481
-
-
6,028
8,018,152

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Charity

Balance at
1 October
2021
£
Unrestricted funds
General
General
1,451,488
Designated
Depreciation
Reserve
2,540,704
Investment
Reserve
2,141,233
Financial Risk
1,800,000
6,481,937
Total
Unrestricted
funds
7,933,425
Restricted
funds
Rabbit Area
997
Sand School
2,550
Kennel
refurbishment
-
WT New
Cattery
2,481
Total restricted
funds
6,028
Total funds
7,939,453		 Incoming
resources
£
1,432,571
-
-
-
-
1,432,571
-
-
1,000
970
1,970
1,434,541		 Resources
expended
£
(1,495,904)
(128,345)
-
-
(128,345)
(1,624,249)
-
-
-
-
-
(1,624,249)		 Transfers
£
Other
recognised
gains/(losses)
£
15,835
(81,302)
591,294
-
-
30,000
(600,000)
-
(8,706)
30,000
7,129
(51,302)
(128)
-
(2,550)
-
(1,000)
-
(3,451)
-
(7,129)
-
-
(51,302)		 Balance at
30
September
2022
£
1,322,688
3,003,653
2,171,233
1,200,000
6,374,886
7,697,574
869
-
-
-
869
7,698,443

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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

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.

MARGARET GREEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

24 Analysis of net assets between funds

Group

Unrestricted funds

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
25 Analysis of net funds
Group
Cash at bank and in hand
Net debt
Charity
Cash at bank and in hand
Net debt		 General
£
3,095,004
3,702,318
1,118,434
(118,912)
7,796,844
Unrestricted
funds
General
£
3,078,653
3,702,418
1,018,911
(105,350)
7,694,632
At 1 October
2021
£
1,002,012
1,002,012
At 1 October
2021
£
1,002,012
1,002,012		 Restricted
funds
£
-
-
3,811
-
3,811
Restricted
funds
£
-
-
3,811
-
3,811
Cash flow
£
(434,828)
(434,828)
Cash flow
£
(434,828)
(434,828)		 Total funds
£
3,095,004
3,702,318
1,122,245
(118,912)
7,800,655
Total funds
£
3,078,653
3,702,418
1,022,722
(105,350)
7,698,443
At 30
September
2022
£
567,184
567,184
At 30
September
2022
£
567,184
567,184

MARGARET GREEN ANIMAL RESCUE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

26 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 (2021:£6,000) and internal recharges totalling £148,589 (2021:£55,838) in relation to boarding costs for the year. At the year end £23,133 (2021:£19,554 due from) was due to Margaret Green Animal Rescue (Trading) Limited in respect of net debtor and creditor balances. A further £Nil (2021: £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 £6,445 (2021:£Nil) were made during the year. At the year end the total loan balance due from Margaret Green Animal Rescue (Trading) Limited was £59,225 (2021:£63,945). Interest at 3% was charged on the loan amounting to £1,725 (2021: £1,862.)

A donation of £62,550 (2021: £Nil) was paid 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 £82,358 (2021:£85,541).