**REGISTERED COMPANY NUMBER: 10404912 (England and Wales) REGISTERED CHARITY NUMBER: 1169511/SC048389** **Group Report of the Trustees and** **Consolidated Audited Financial Statements for the Year Ended 31 December 2020** **for** **OAK TREE ANIMALS' CHARITY** ## **OAK TREE ANIMALS' CHARITY** ## **Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 9| |**Report of the Independent Auditors**|10 to 13| |**Consolidated Statement of Financial Activities**|14| |**Consolidated Statement of Financial Position**|15| |**Charity Statement of Financial Position**|16| |**Consolidated Statement of Cash Flows**|17| |**Notes to the Consolidated Statement of Cash Flows**|18 to 19| |**Notes to the Financial Statements**|20 to 42| |**Detailed Statement of Financial Activities**|43 to 45| ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees who are also directors of the charity and group for the purposes of the Companies Act 2006, present their report with the consolidated financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Welcome to the Annual Report and Financial Statements of Oak Tree Animals' Charity. ## **Our Vision** Our vision is a world where understanding and empathy ensure that all animals are treated with kindness and respect. ## **Our Mission** Our mission is to help companion animals in need; finding them a safe and comfortable home and helping the community to understand their needs, through support and education. ## **Our Values** Our values are integral to our everyday work. They reflect what we stand for and how we evaluate ourselves. - We are proud to be non-judgemental and compassionate in our approach to animals and the people who care for them - We are proactive and value our work with partner organisations to find effective and evidence-based approaches to animal welfare - - We aim to find the right home for the animals in our care, providing ongoing support and advice to ensure life-long partnerships; and - We strive to be innovative, flexible and responsive to meet the needs of animals and our community in changing times ## **Review of 2020** 2020 was such a challenging year for everyone, and we, like so many, are grateful to see a glimmer of light at the end of the tunnel in 2021. Our proactive, community-based approach is unique in our region and during this pandemic we have been needed by our community perhaps more than ever before. The report of the Trustees provides detailed explanations of the activities of the charity and the results achieved in 2020. Page 1 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **OBJECTIVES AND ACTIVITIES Objectives and aims** Founded in 1909 by Francis Cox, who campaigned for better working conditions for pit ponies and other working horses, the charity has now grown to provide a home for horses, donkeys, goats and cattle. It's also a safe haven for abandoned or relinquished dogs & cats who are awaiting new homes through our Adoption Programme. Every year the charity takes in hundreds if animals and gives them a second chance. We rehabilitate the animals, but we also prepare potential owners for life with a new companion and offer the help and support necessary for both animal and owner to love a long and happy life together. Our work in the community means that loving pet owners can find the information and resources they need to keep their animals happy, healthy and in good homes. We also support unowned animals such as feral cats through our Trap Neuter Return (TNR) programme. We use educational campaigns to raise awareness and change perceptions, with the aim of providing a brighter future for animals in all walks of society. Our Team speaks to schools, community groups and colleges about animal welfare and offers advice on working with animals in the future, investing in our younger generations and providing them with the knowledge they need to help animals in the long term. ## **Strategies for achieving aims and objectives** Within our "Onwards and Upwards in a Changing World 2021-2024" Strategy, we have four strategic priorities: 1. Animal Welfare - Rehoming 2. Animal Welfare - Community 3. Education 4. Sustainability Page 2 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **OBJECTIVES AND ACTIVITIES Significant activities** ## **Animal Welfare - Rehoming** Animal welfare is at the heart of our charity. The welfare of the cats, dogs, equines and other animals is of the utmost importance. Every animal is unique with individual needs and our staff work hard to ensure that animals in our rehoming programme benefit from an enriched environment and positive and fulfilling interactions with humans during their time with us. We assess our animals thoroughly, providing veterinary, behavioural and training support to ensure that they have the best possible chance of finding their own loving, forever home. ## **Animal Welfare - Community** We provide support, where it is needed, at the heart of our community. As a charity, a proactive community approach is key to our success. We tailor our support to the individual animals and owners to improve and maintain animal welfare in our region. We are committed to our development to ensure that we provide a professional, relevant, knowledgeable and approachable service that can be accessed by all within the Borders. We also provide a voice for animals through our advocacy work. ## **Education** Education is key to the improvement of animal welfare. We seek to support and advise animal owners and all who come into contact with animals to prevent issues arising. From preventative healthcare and nutrition advice, training and behaviour support to helping new owners make the right pet choices. We offer approachable, knowledgeable and professional training to all. In addition, we work on site and with schools and community groups to provide insight into animal welfare issues, animal interactions and offer volunteering opportunities. ## **Sustainability** We are committed to ensuring our charity has a sustainable and bright future enabling us to deal with the animal welfare challenges that will arise in the 21st century and beyond. Our knowledge, experience and financial resources must continue to ensure that animals and our community have our care and support during these changing times. ## **Public benefit** The Board of Trustees has considered the guidance produced by the Charity Commission on the provision of public benefit and confirms that public benefit is provided by the Charity's activities. The Charity operates the Oak Tree Farm, a temporary haven for animals while a new home is sought for them as well as a long-term home for retired animals. The Charity provides advice and support to pet owners and gives peace of mind when an animal has to be taken into care because the owner is no longer able to keep it. The Charity operates a free education service on animal welfare issues to schools, nurseries, further education establishments and community groups. When establishing strategies and deciding upon the main activities, the trustees have had regard to Charity Commission guidance on public benefit. ## **Volunteers** Our 216 volunteers are essential to ensure we are able to carry out our work in our community. They are absolutely invaluable. We would like to thank them for their dedication and commitment to our work and improving the lives of animals in our region. Page 3 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **ACHIEVEMENT AND PERFORMANCE** In 2020, with your support, we were able to help 2807 animals who needed our help through our community and rehoming programmes. Some animals needed to find loving new homes with others needing to find their way back home when lost. Owners required help with a wide variety of issues, many exacerbated by the pandemic. With your support we were able to: - Neuter 215 cats through our Trap Neuter Return (TNR) Programme - Provide supported neutering for those in financial difficulty for 47 animals - Provide over 1600 emergency pet food parcels during the pandemic - Provide short-term foster placements for 37 animals through our Helping Paw Programme; and - Support many other animals through other community-based programmes. The pandemic saw many challenges but also brought us opportunities to develop our support programmes to meet the needs of our community. We were able to extend our 'A Helping Paw' Programme to not only support those who are homeless or fleeing domestic violence, but also key workers who lived alone with no nearby support and were concerned about their options should they become hospitalised. There were also those who were providing palliative care or going through end-of-life situations with a family member and were unable to care for their pets during this period. Our staff and volunteer teams have worked tirelessly to make sure every case we are able to help with has the right outcome for both animal and owner. To conserve funds we needed to furlough many of our team, but the remaining team stepped up and took up the challenge to support our community as best we could. All team members were fully in support of new areas of work demonstrating their dedication and ability to diversify and adapt. We developed relationships with local community Covid-19 groups to provide pet support as needed, provided insight, advice to county and local councils and other local organisations through the Cumbria Community Resilience Group and other platforms. This helped to ensure that pet owners were supported throughout this challenging period. Our Education programme adapted to meet the challenges of the pandemic - providing a range of dynamic online activities, Google classrooms and animal welfare themed activities for those who were home-schooling. Our Training Team also took dog training classes and 1-2-1 online sessions, helping owners to start and continue training throughout lockdown and address some of the dog behavioural challenges that were seen to develop in this period. Our supporters also stepped up amazingly. With our tearoom, site and charity shops being forced to close with lockdown, our community got behind us with generous donations, taking part in our online events, fundraising activities and sending us amazing messages of support and gifts for the animals. Although we did lose a significant number of our income streams during the lockdowns, forcing us to draw on our reserves, our generous supporters enabled us to limit the size of our losses. On behalf of the whole team, the Trustees would like to thank all of our supporters who helped us during this time. ## **FINANCIAL REVIEW** ## **Financial Review** Our aim to diversify our funding streams continues and, while income was less than 2019 and both trading and direct fundraising hampered by Covid restrictions, our results reflect this increase in diversification. Page 4 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FINANCIAL REVIEW Principal funding sources** |Legacies
Donations (including Gift Aid)
Grants
Trading activities
Other
Total|**2020**
**£**
**%**
256,592
35.9%
133,502
18.7%
197,471
27.6%
110,906
15.5%
15,975
2.2%
714,446|**2019**
**£**
**%**
620,170
65.2%
130,003
13.7%
40,890
4.3%
140,993
14.8%
18,847
2.0%
950,903| |---|---|---| While we have not emerged financially unscathed from the pandemic, with the loss reflected in the accounts of £268,768, access to government support, additional support from grant-funders and individual donations, as well as the use of digital fundraising and e-commerce techniques, meant that the level of loss was managed, providing us with a firm platform to move forward from. The key financial facts for year ended 31st December 2020 are: income of £714,446, expenditure £999,780 and net gains on investments of £16,566 resulting in a deficit of £268,768 Total unrestricted reserves at the end of 2020 were £2,078,417, with £606,725 being accessible reserves, and the remainder being tangible fixed assets, primarily our land and buildings. By comparison, the accounts of year ending 31st December 2019 showed income of £950,903, expenditure of £1,012,021 (excluding exceptional items of £1,653,224 which comprised an impairment of the property at Oak Tree Farm) and a net gain from investments of £67,528 resulting in a comparable surplus for the year of £6,410. The Charity owes a significant amount of gratitude to our supporters for their continued support of our work, which ultimately benefits the animals in our care and within our community. We would like to thank the Ostachinni Family Charitable Trust, the Sir Peter O'Sullevan Charitable Trust, Ground Work UK, the Kennel Club Charitable Trust, the Rose Animal Welfare Trust, Marjorie Coote Animal Charity Trust, the Emerson Foundation and the June Evetts Animal Welfare Trust among many others, for their generous support this year which has allowed us to achieve so much. ## **Investment policy and objectives** Under the constitution and rules of the Charity, the Board of Trustees has the power to make any investments as deemed fit, mindful that any such investment should be of an ethical nature and true to the objectives of the Charity. ## **Reserves policy** Each year the Board of Trustees reviews the reserves of the charity in line with the charity's investment policy, looking at income and expenditure and the overall value of reserves. The investment policy sets out the requirement for reserves to be invested conservatively and in line with the Charity Commission guidelines with a diversified portfolio to minimise risk. An ethical policy has been adopted to avoid investments that conflict with the aims of the charity. This policy precludes direct investment in companies involved in vivisection or drug testing on animals. At the end of 2020 unrestricted reserves amounted to £606,725 excluding fixed, tangible assets. There are no material amounts committed from reserves. Page 5 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FUTURE PLANS** 2021 will see families and lifestyles further transitioning as we come out of lockdown. We are already seeing an increase in the number of dogs and cats being relinquished, many with behaviour issues directly relating to the pandemic, and more owners facing financial uncertainty where we can provide short term support though our community programmes. We remain committed to helping animals and owners throughout our region, responding to situations as they arise and ensuring we adapt our work in this ever changing world. The launch of our new "Onwards and Upwards in a Changing World 2021-2024" strategy in 2021 enables us to tackle the immediate challenges we face as an organisation allowing us not merely to survive but instead to thrive, supporting animals and their owners in a shifting landscape by providing high quality, relevant community and rehoming programmes. 2021 will see more financial challenges for our charity as we anticipate a period of recession. In order to address this, we will continue to diversify our income streams and, in particular build on our trading and e-Commerce capacity, through the charity and its trading subsidiary, to enable us to fund our work. We also anticipate a rise in the number of behavioural issues seen in young dogs as we move out of lockdown, where those pups who were unable to be socialised fully due to restrictions, face the challenges seen in a busy world. We will continue to train our staff to support owners and animals, offer specialised training support to enable us both to tackle this issue in the community and within our rehoming programme. The Animal Welfare Action Plan published by the UK government offers much hope for improvements to animal welfare legislation. We will develop our advocacy programme to ensure that we are able to act as a voice for animals and owners in our region and ultimately improve animal welfare. Our community programme will also seek to support changes in legislation by providing practical animal welfare support such as cat micro-chipping. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity is a charitable company limited by guarantee, incorporated on 1st October 2016. The Articles of Association set out the Charity’s objects and powers and is its governing document. ## **Recruitment and appointment of new trustees** There is an active Trustee recruitment policy identifying and filling Trustee positions and candidates based on experience and skills needed by the Charity. ## **Organisational structure** The Charity is managed and administered by a supervisory Board of Trustees elected in accordance with the Articles of Association. The number of Trustees shall be not less than 3 and not more than 11 (unless otherwise determined by resolution in a general meeting). All Trustees have to stand for re-election at the end of their first year, after which the elected members are subject to fixed-term appointments and election or re-election according to the procedures set out in the governing document. Decisions are made on a majority vote with each Trustee having one vote on each issue. In the case of a tied vote the Chairman has an additional casting vote. ## **Decision making** The Board of Trustees meets throughout the year to make decisions regarding the direction and governance of the charity in accordance with the governing document. No business is transacted at any general meeting unless a quorum of 3 members is present, with decisions taken through a vote indicated by a show of hands, with each member entitled to one vote. In the event of deadlock the Chair of the Board may cast an additional deciding vote. A resolution may also be made in writing by simple majority of the members who would have been entitled to vote on it were it held at a general meeting. Page 6 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Induction and training of new trustees** All new trustees undergo a period of induction and training, supported by the Trustee Board and the Senior Management Team. It is vital our trustees have up-to-date relevant knowledge relating to governance and our sector, and hence this commitment to training continues throughout their period of trusteeship. ## **Key management remuneration** The Board of Trustees sets the remuneration of the General Manager in line with fair market rates, taking into consideration the specific requirements of the role. The performance and level of remuneration is reviewed annually. ## **Related parties** The Charity has a wholly owned subsidiary trading company, OTAC Trading Ltd, to promote hospitality, retail and events from Oak Tree Farm and other Charity properties. All profits from the trading company are donated to the Charity. ## **Risk Assessment** The Trustees have assessed these risks to which the Charity is exposed and have introduced systems and procedures to manage and minimise them. ## **FUNDRAISING ACTIVITIES** The charity does not carry out significant fundraising activities. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 10404912 (England and Wales) ## **Registered Charity number** 1169511/SC048389 ## **Registered office** Oak Tree Farm Wetheral Shields Carlisle Cumbria CA4 8JA ## **Trustees** P T Armer FCMA, CGMA (resigned 17/5/2021) Ms R L Griffiths (resigned 6/5/2021) D Jordan M B Squires MRCVS S Wells Mrs E J C Hoyles (appointed 27/2/2021) Day-to-day management is delegated to the Chief Executive Officer, Ms C A Johnson. ## **Senior Statutory Auditor** Alan Meikle FCA Page 7 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** ## **REFERENCE AND ADMINISTRATIVE DETAILS Auditors** RfM Fylde Limited Summerdale Head Dyke Lane Pilling Lancashire PR3 6SJ ## **Advisers** In furtherance of the Charity’s duty of care to the animals in its keeping, The Board of Trustees has appointed Eden Veterinary Centre, Paragon Veterinary Group, Border Vets and The Green Veterinary Surgery to advise on all veterinary matters and to implement medical and/or surgical treatment or arrange referral as appropriate. In line with the charity's procurement policy, the accountancy and auditing function will be out to tender in 2021. Additionally, the Board under the powers granted to it has appointed the Cumberland Building Society and Natwest as its operating banks for day to day transactions and Brewin Dolphin Ltd to manage the Charity’s investment portfolio. The Board has also appointed Strutt & Co as Solicitors to the Charity. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Oak Tree Animals' Charity for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, RfM Fylde Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Page 8 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2020** This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 12 August 2021 and signed on its behalf by: .................................................................... D Jordan - Trustee Page 9 ## **Report of the Independent Auditors to the Members of Oak Tree Animals' Charity** ## **Opinion** We have audited the consolidated financial statements of Oak Tree Animals' Charity (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 10 ## **Report of the Independent Auditors to the Members of Oak Tree Animals' Charity** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so. Page 11 ## **Report of the Independent Auditors to the Members of Oak Tree Animals' Charity** ## **Our responsibilities for the audit of the financial statements** 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 a Report of the Independent Auditors 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: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charity through discussions with directors and other management, and from our commercial knowledge and experience of the religious charities sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the charity’s legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. Page 12 ## **Report of the Independent Auditors to the Members of Oak Tree Animals' Charity** A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Alan Meikle FCA (Senior Statutory Auditor) for and on behalf of RfM Fylde Limited Summerdale Head Dyke Lane Pilling Lancashire PR3 6SJ Date: 12 August 2021 Page 13 ## **OAK TREE ANIMALS' CHARITY** ## **Consolidated Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2020** |**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
513,738
Other trading activities
3
110,906
Investment income
4
13,680
**Total**
638,324
**EXPENDITURE ON**
Raising funds
5
87,734
**Charitable activities**
6
Animal Welfare
708,733
Community projects and education
147,237
Exceptional items
-
**Total**
943,704
Net gains on investments
16,566
**NET INCOME/(EXPENDITURE)**
(288,814)
**Transfers between funds**
22
44,972
**Net movement in funds**
(243,842)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
2,322,259
**TOTAL FUNDS CARRIED FORWARD**
2,078,417|**Restricted**
**funds**
**£**
76,122
-
-
76,122
5,979
43,087
7,010
-
56,076
-
20,046
(44,972)
(24,926)
42,561
17,635|**2020**
**Total**
**funds**
**£**
589,860
110,906
13,680
714,446
93,713
751,820
154,247
-
999,780
16,566
(268,768)
-
(268,768)
2,364,820
2,096,052|**2019**
**Total**
**funds**
**£**
792,812
140,993
17,098
950,903
90,789
775,766
145,466
1,653,224
2,665,245
67,528
(1,646,814)
-
(1,646,814)
4,011,629
2,364,815| |---|---|---|---| The notes form part of these financial statements Page 14 ## **OAK TREE ANIMALS' CHARITY (REGISTERED NUMBER: 10404912)** ## **Consolidated Statement of Financial Position 31 DECEMBER 2020** |**Unrestricted**
**fund**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
14
1,471,692
Investments
15
537,688
2,009,380
**CURRENT ASSETS**
Stocks
16
12,464
Debtors
17
41,096
Investments
18
20,762
Cash at bank and in hand
136,440
210,762
**CREDITORS**
Amounts falling due within one year
19
(94,860)
**NET CURRENT ASSETS**
115,902
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
2,125,282
**CREDITORS**
Amounts falling due after more than one year
20
(46,865)
**NET ASSETS**
2,078,417
**FUNDS**
22
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Restricted**
**funds**
**£**
-
-
-
-
-
-
17,635
17,635
-
17,635
17,635
-
17,635|**2020**
**Total**
**funds**
**£**
1,471,692
537,688
2,009,380
12,464
41,096
20,762
154,075
228,397
(94,860)
133,537
2,142,917
(46,865)
2,096,052
2,078,417
17,635
2,096,052|**2019**
**Total**
**funds**
**£**
1,496,907
691,356
2,188,263
14,019
44,455
13,835
198,893
271,202
(94,650)
176,552
2,364,815
-
2,364,815
2,322,254
42,561
2,364,815| |---|---|---|---| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 August 2021 and were signed on its behalf by: ............................................. D Jordan - Trustee The notes form part of these financial statements Page 15 ## **OAK TREE ANIMALS' CHARITY** ## **Charity Statement of Financial Position 31 DECEMBER 2020** |**Unrestricted**
**fund**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
14
1,466,251
Investments
15
537,689
2,003,940
**CURRENT ASSETS**
Stocks
16
3,084
Debtors
17
60,225
Investments
18
20,762
Cash at bank and in hand
124,913
208,984
**CREDITORS**
Amounts falling due within one year
19
(87,642)
**NET CURRENT ASSETS**
121,342
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
2,125,282
**CREDITORS**
Amounts falling due after more than one year
20
(46,865)
**NET ASSETS**
2,078,417
**FUNDS**
22
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Restricted**
**funds**
**£**
-
-
-
-
-
-
17,635
17,635
-
17,635
17,635
-
17,635|**2020**
**Total**
**funds**
**£**
1,466,251
537,689
2,003,940
3,084
60,225
20,762
142,548
226,619
(87,642)
138,977
2,142,917
(46,865)
2,096,052
2,078,417
17,635
2,096,052|**2019**
**Total**
**funds**
**£**
1,489,353
691,357
2,180,710
5,252
38,593
13,835
195,042
252,722
(76,168)
176,554
2,357,264
-
2,357,264
2,314,703
42,561
2,357,264| |---|---|---|---| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 August 2021 and were signed on its behalf by: ............................................. D Jordan - Trustee The notes form part of these financial statements Page 16 ## **OAK TREE ANIMALS' CHARITY** ## **Consolidated Statement of Cash Flows FOR THE YEAR ENDED 31 DECEMBER 2020** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash provided by/(used in) investing activities
**Cash flows from financing activities**
New loans in year
(Increase)/decrease in investments
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
2
**Cash and cash equivalents at the end of**
**the reporting period**
2|**2020**
**£**
(235,339)
(235,339)
(23,774)
(69,531)
239,765
988
147,448
50,000
(6,927)
43,073
(44,818)
198,893
154,075|**2019**
**£**
45,604
45,604
(81,984)
(258,189)
247,907
214
(92,052)
-
297
-
(46,151)
245,044
198,893| |---|---|---| The notes form part of these financial statements Page 17 ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Consolidated Statement of Cash Flows FOR THE YEAR ENDED 31 DECEMBER 2020** |**1.**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**| |---|---|---|---| |||**2020**|**2019**| |||**£**|**£**| ||**Net expenditure for the reporting period (as per the Statement of**||| ||**Financial Activities)**|(268,769)|(1,646,814)| ||**Adjustments for:**||| ||Depreciation charges|48,994|74,268| ||Gain on investments|(16,566)|(67,528)| ||Interest received|(988)|(214)| ||(Gains)/losses current asset investment|-|297| ||Impairment of freehold property|-|1,653,224| ||Decrease in stocks|1,555|7,097| ||Decrease in debtors|3,359|(4,292)| ||Increase in creditors|(2,924)|29,863| ||**Net cash (used in)/provided by operations**|(235,339)|45,604| |**2.**|**ANALYSIS OF CASH AND CASH EQUIVALENTS**||| |||**2020**|**2019**| |||**£**|**£**| ||Cash in hand|100|198| ||Notice deposits (less than 3 months)|153,975|201,243| ||Overdrafts included in bank loans and overdrafts falling due within one year|
-|(2,548)| ||Total cash and cash equivalents|154,075|198,893| The notes form part of these financial statements Page 18 ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Consolidated Statement of Cash Flows FOR THE YEAR ENDED 31 DECEMBER 2020** ## **3. ANALYSIS OF CHANGES IN NET FUNDS** ||**At 1/1/20**|**Cash flow**|**At 31/12/20**| |---|---|---|---| ||**£**|**£**|**£**| |**Net cash**|||| |Cash at bank and in hand|201,441|(47,366)|154,075| |Bank overdraft|(2,548)|2,548|-| ||198,893|(44,818)|154,075| |**Liquid resources**|||| |Deposits included in cash|-|-|-| |Current asset investments|13,835|6,927|20,762| ||13,835|6,927|20,762| |**Debt**|||| |Debts falling due within 1 year|-|(3,135)|(3,135)| |Debts falling due after 1 year|-|(46,865)|(46,865)| ||-|(50,000)|(50,000)| |**Total**|212,728|(87,891)|124,837| The notes form part of these financial statements Page 19 ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES** ## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Basis of consolidation** The group financial statements consolidate the financial statements of the charitable company and its subsidiaries. Subsidiary undertakings are included using the acquisition method of accounting. Under this method the group statement of financial activities includes the results of subsidiaries from the date of acquisition and to the date of sale outside the group in case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities on the basis of fair value at the date of acquisition. ## **CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** Critical accounting judgements and key sources of estimation uncertainty made by trustees and management in preparing these financial statements which also have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include: - Depreciation and impairment of fixed assets The carrying amount of fixed assets is included within the tangible fixed asset note. ## **INCOME** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Legacies and donations** Legacies and donations are recognised as income when it is probable that they will be received; this is normally upon receipt. ## **Donated goods, services and facilities** Donated goods, professional services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. As it is impractical to measure the fair value of goods donated for resale, the donated goods are recognised when they are sold. ## **Grants** Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. ## **Interest receivable and dividend income from investments** 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. Page 20 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** ## **EXPENDITURE** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **ALLOCATION AND APPORTIONMENT OF COSTS** Support costs that cannot be directly attributed to a specific activity are apportioned across all relevant activities on a basis appropriate to their specific activity ## **TANGIBLE FIXED ASSETS** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on reducing balance Plant and machinery - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance Land is not depreciated. Depreciation is charged on a monthly basis from the calendar month following acquisition or on the bringing into use of the asset, whichever is the later. A full month is charged in the month of disposal. ## **FIXED ASSET INVESTMENTS** ## **Investments in Subsidiary Undertakings** Investments in subsidiary undertakings are recognised at cost less impairment. ## **Investment Portfolio** Fixed asset investments are measured at market value. ## **Impairment** Fixed assets and investments are subject to review for impairment when there is an indication of a reduction in their carrying value. Any impairment is recognised in the year in which it occurs in the corresponding SOFA category. ## **CURRENT ASSET INVESTMENTS** Cash balances are measured at cost. ## **STOCKS** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **TAXATION** The charity is exempt from corporation tax on its charitable activities. Page 21 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** ## **FUND ACCOUNTING** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **HIRE PURCHASE AND LEASING COMMITMENTS** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **FINANCIAL INSTRUMENTS** ## **Financial assets** Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in income or expenditure. If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in income or expenditure. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. ## **Financial liabilities** Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. Page 22 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** ## **FINANCIAL INSTRUMENTS** Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest. ## **Impairment** At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in income or expenditure. If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in income or expenditure. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| |Donations
Appeal donations
Gift aid
Legacies
Grants
Other income|**2020**
**£**
125,635
2,231
5,636
256,592
197,471
2,295
589,860|**2019**
**£**
125,862
3,218
923
620,170
40,890
1,749| |||792,812| Grants received, included in the above, are as follows: |Various Grants
Tesco Snuffle Run Grant
Kennel Club Grant
Ostacchini Grant
RPA BPS Grant
Sir Peter O'Sullevan Grant
Emerson Foundation
Rose Animal Welfare Grant
June Evetts Animal Welfare Trust
Marjorie Coote Animal Charity
Grants for general purposes
Grants for Equine projects
Grants for Animal projects
Grants for Community & Educational projects
Covid-19 related grants|**2020**
**£**
-
-
-
-
-
-
-
-
-
-
12,729
26,500
20,250
45,372
92,620
197,471|**2019**
**£**
1,600
1,000
2,660
2,500
6,530
13,000
100
10,000
2,500
1,000
-
-
-
-
-| |---|---|---| |||40,890| Page 23 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **3. OTHER TRADING ACTIVITIES** ## **4.** |Fundraising events
Animal sponsorship
Lottery income
Trading income in OTAC Trading Ltd
**INVESTMENT INCOME**
Dividend income from investments
Deposit account interest
Current asset investment income|**2020**
**£**
26,928
2,205
2,650
79,123
110,906
**2020**
**£**
12,692
967
21
13,680|**2019**
**£**
27,731
2,257
1,397
109,608|**2019**
**£**
27,731
2,257
1,397
109,608| |---|---|---|---| |||140,993|| ||||**2019**
**£**
16,884
214
-| ||||17,098| |**5.**
**RAISING FUNDS**
**RAISING DONATIONS AND LEGACIES**
Event expenses
Support costs|**2020**
**£**
250
93,463
93,713|**2019**
**£**
1,750
89,039| |---|---|---| |||90,789| ## **Volunteers** Volunteers play a full part in the life of Oak Tree, supporting animal care, administration, governance and facilities functions; manning events, organising collections and undertaking wide variety of fundraising activities. In 2020, 216 volunteers gave over 10,000 hours of time equating to over £87,200 of support (based on minimum wage). ## **6. CHARITABLE ACTIVITIES COSTS** |Animal Welfare
Community projects and education|**Support**
**Direct**
**costs (see**
**Costs**
**note 7)**
**£**
**£**
106,509
645,311
21,021
133,226
127,530
778,537|**Totals**
**£**
751,820
154,247
906,067| |---|---|---| Page 24 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **7. SUPPORT COSTS** |Raising donations and legacies
Animal Welfare
Community projects and education
Raising donations and legacies
Animal Welfare
Community projects and education|**Human**
**Establishment**
**Finance**
**resources**
**costs**
**£**
**£**
**£**
522
80,349
5,637
7,829
457,372
84,560
2,088
80,349
22,549
10,439
618,070
112,746
**Motor and**
**travel**
**Governance**
**costs**
**costs**
**Totals**
**£**
**£**
**£**
836
6,119
93,463
3,764
91,786
645,311
3,764
24,476
133,226
8,364
122,381
872,000| |---|---| |**Activity**|**Basis of allocation**| |---|---| |Finance|Allocated on a proportionate basis to charitable activities| |Human resources|Allocated based on staff numbers| |Establishment costs|Allocated on a proportionate basis to charitable activities| |Motor and travel costs|Allocated on percentage use of vehicles| |Governance costs|Allocated on a proportionate basis to charitable activities| Support costs for Finance, Establishment costs and Governance costs are apportioned as: ||**2020**|**2019**| |---|---|---| |Raising donations and legacies|5%|5%| |Animal Welfare|75%|85%| |Community projects and education|20%|10%| |Support costs for Human resources are apportioned as:||| ||**2020**|**2019**| |Raising donations and legacies|13%|13%| |Animal Welfare|74%|74%| |Community projects and education|13%|13%| |Support costs for Motor and travel costs are apportioned as:||| ||**2020**|**2019**| |Raising donations and legacies|10%|10%| |Animal Welfare|45%|45%| |Community projects and education|45%|45%| Page 25 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **8. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Auditors' remuneration
Depreciation - owned assets
Other operating leases|**2020**
**£**
12,425
48,990
14,549|**2019**
**£**
7,000
74,266
9,847| |---|---|---| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **TRUSTEES' EXPENSES** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **10. STAFF COSTS** |**STAFF COSTS**||| |---|---|---| |Wages and salaries
Social security costs
Other pension costs|**2020**
**£**
575,346
17,891
22,276
615,513|**2019**
**£**
527,585
17,566
20,911| |||566,062| The average monthly number of employees during the year was as follows: |Management and administration
Veterinary and animal welfare
Community
Shop & tea room
Fundraising|**2020**
11
13
3
8
5
40|**2019**
12
14
3
7
1
37| |---|---|---| No employees received emoluments in excess of £60,000. The wages and salaries figure includes £1,047 (2019: £5,388 of expenses relating to staff uniforms, equipment and training. ## **11. EXCEPTIONAL ITEMS** During the year an impairment of £Nil (2019: £1,653,224) was made on the value of freehold land and buildings. Page 26 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Animal Welfare
Community projects and education
Exceptional items
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
As previously reported
Prior year adjustment
**As restated**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
768,452
140,993
17,098
926,543
90,789
773,737
145,466
1,653,224
2,663,216
67,528
(1,669,145)
13,028
(1,656,117)
3,974,185
4,186
3,978,371
2,322,254|**Restricted**
**funds**
**£**
24,360
-
-
24,360
-
2,029
-
-
2,029
-
22,331
(13,028)
9,303
-
33,258
33,258
42,561|**Total**
**funds**
**£**
792,812
140,993
17,098
950,903
90,789
775,766
145,466
1,653,224
2,665,245
67,528
(1,646,814)
-
(1,646,814)
3,974,185
37,444
4,011,629
2,364,815| |---|---|---|---| ## **13. SURPLUS/(DEFICIT) OF PARENT CHARITY** As permitted by Section 408 of the Companies Act 2006, the Statement of Financial Activities of the parent charitable company is not presented in these financial statements. The parent charity’s deficit for the year was £261,212 (2019 - £1,653,751 deficit). Page 27 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **14. TANGIBLE FIXED ASSETS Group** |**COST**
At 1 January 2020
Additions
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
**COST**
At 1 January 2020
Additions
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|**Freehold**
**property**
**£**
1,415,000
18,939
1,433,939
-
28,489
28,489
1,405,450
1,415,000
**Motor**
**vehicles**
**£**
49,151
-
49,151
36,524
3,396
39,920
9,231
12,627|**Plant and**
**machinery**
**£**
34,271
-
34,271
10,226
4,434
14,660
19,611
24,046
**Computer**
**equipment**
**£**
3,670
-
3,670
1,343
771
2,114
1,556
2,327|**Fixtures**
**and**
**Fittings**
**£**
204,602
4,835
209,437
161,694
11,899
173,593
35,844
42,907
**Totals**
**£**
1,706,694
23,774
1,730,468
209,787
48,989
258,776
1,471,692
1,496,907| |---|---|---|---| Page 28 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **14. TANGIBLE FIXED ASSETS – continued Charity** |**Freehold**
**property**
**£**
**COST**
At 1 January 2020
1,415,000
Additions
18,939
At 31 December 2020
1,433,939
**DEPRECIATION**
At 1 January 2020
-
Charge for year
28,489
At 31 December 2020
28,489
**NET BOOK VALUE**
At 31 December 2020
1,405,450
At 31 December 2019
1,415,000
**15.**
**FIXED ASSET INVESTMENTS**
**Group**
**MARKET VALUE**
At 1 January 2020
Additions
Disposals
Revaluations
Reclassification/transfer
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
Investments in UK
Investments outside UK|**Plant and**
**machinery**
**£**
28,004
-
28,004
8,919
3,181
12,100
15,904
19,085|**Fixtures**
**and**
**fittings**
**£**
204,246
4,835
209,081
161,605
11,810
173,415
35,666
42,641||**Motor**
**vehicles**
**£**
49,151
-
49,151
36,524
3,396
39,920
9,231
12,627
**Investment**
**Portfolio**
**£**
691,357
69,531
(239,765)
16,566
(1)
537,688
537,688
691,356
**2020**
**£**
267,999
269,689
537,688|**Motor**
**vehicles**
**£**
49,151
-
49,151
36,524
3,396
39,920
9,231
12,627
**Investment**
**Portfolio**
**£**
691,357
69,531
(239,765)
16,566
(1)
537,688
537,688
691,356
**2020**
**£**
267,999
269,689
537,688|**Totals**
**£**
1,696,401
23,774
1,720,175
207,048
46,876
253,924
1,466,251
1,489,353
**Totals**
**£**
691,357
69,531
(239,765)
16,566
(1)
537,688
537,688
691,356
**2019**
**£**
416,639
274,716
691,355| |---|---|---|---|---|---|---| |||||||| Page 29 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. FIXED ASSET INVESTMENTS – continued Charity** |**Charity**|||| |---|---|---|---| ||**Shares in**||| ||**group**|**Investment**|| ||**undertakings**|**Portfolio**|**Totals**| ||**£**|**£**|**£**| |**MARKET VALUE**|||| |At 1 January 2020|-|691,357|691,357| |Additions|-|69,531|69,531| |Disposals|-|(239,765)|(239,765)| |Revaluations|-|16,566|16,566| |Reclassification/transfer|1|(1)|-| |At 31 December 2020|1|537,688|537,689| |**NET BOOK VALUE**|||| |At 31 December 2020|1|537,688|537,689| |At 31 December 2019|-|691,357|691,357| |||**2020**|**2019**| |||**£**|**£**| |Investments in UK||267,999|416,639| |Investments outside UK||269,689|274,716| |||537,688|691,355| The company's investments at the statement of financial position date in the share capital of companies include the following: ## **OTAC Trading Ltd, company number 10502353** Registered office: Nature of business: Charitable retailer |**%**
**Class of share:**
**holding**
Ordinary £1
100
Aggregate capital and reserves
(Loss)/profit for the year
Turnover
Expenditure
Profit/(loss)|**2020**
**£**
1
(7,555)
**2020**
**£**
123,151
130,706
(7,555)|**2019**
**£**
7,556

6,942
**2019**
**£**
166,407
159,465

6,942| |---|---|---| Page 30 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** |**16.**
**STOCKS**
**Group**
Consumable stocks
**Charity**
Consumable stocks
**17.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**Group**
Trade debtors
Other debtors
VAT
Accrued income
Prepayments
**Charity**
Amounts owed by group undertakings
Other debtors
VAT
Accrued income
Prepayments
**18.**
**CURRENT ASSET INVESTMENTS**
**Group**
Investment Portfolio Cash balance
**Charity**
Investment Portfolio Cash balance||**2020**
**£**
12,464
**2020**
**£**
3,084
**2020**
**£**
6,425
2,979
9,400
2,746
19,546
41,096
**2020**
**£**
27,466
120
10,591
2,746
19,302
60,225
**2020**
**£**
20,762
**2020**
**£**
20,762||**2019**
**£**
14,019|**2019**
**£**
14,019| |---|---|---|---|---|---| |||||**2019**
**£**
5,252
**2019**
**£**
7,769
17,228
8,737
-
10,721|**2019**
**£**
5,252| |||||44,455|| |||||**2019**
**£**
-
16,462
11,654
-
10,477|| |||||38,593|| |||||**2019**
**£**
13,835|| |||||**2019**
**£**
13,835|| Page 31 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group** |**19.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**Group**||| |---|---|---| |Bank loans and overdrafts (see note 20)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
**Charity**
Bank loans and overdrafts (see note 20)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
**20.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**Group**
Bank loans (see note 20)
**Charity**
Bank loans (see note 20)
**21.**
**LOANS**
**Group**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years|**2020**
**£**
3,135
30,587
9,730
-
51,408
94,860
**2020**
**£**
3,135
29,973
9,730
-
44,804
87,642
**2020**
**£**
46,865
**2020**
**£**
46,865
**2020**
**£**
-
3,135
3,135
9,575
30,255|**2019**
**£**
-
45,469
1,746
16,686
30,749| |||94,650| |||**2019**
**£**
2,548
41,555
1,746
770
29,549| |||76,168| |||**2019**
**£**
-| |||**2019**
**£**
-| |||**2019**
**£**
2,548
-| |||2,548| |||-| |||-| Page 32 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **21. LOANS – continued** Amounts falling due in more than five years: Repayable by instalments: |Repayable by instalments:||| |---|---|---| |Bank loans more than 5 years by instalments
Bank loans are unsecured.
**Charity**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years by instalments
Bank loans are unsecured.|7,035
**2020**
**£**
-
3,135
3,135
9,575
30,255
7,035|-
**2019**
**£**
2,548
-| |||2,548| |||-| |||-| |||-| Page 33 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS Group** |**At 1/1/20**
**£**
**Unrestricted funds**
General fund
2,322,259
**Restricted funds**
Sensory Garden
6,150
Equine welfare
13,307
Animal welfare
12,245
Community projects and education
10,306
Woodland maintenance
553
42,561
**TOTAL FUNDS**
2,364,820
Net movement in funds, included in the above are as follows:|**Net**
**movement**
**in funds**
**£**
(288,814)
-
18,193
(6,775)
9,181
(553)
20,046
(268,768)|**Transfers**
**between**
**funds**
**£**
44,972
(6,150)
(15,500)
(4,383)
(18,939)
-
(44,972)
-|**At**
**31/12/20**
**£**
2,078,417
-
16,000
1,087
548
-| |---|---|---|---| ||||17,635| ||||2,096,052| ||||| |**Unrestricted funds**
General fund
**Restricted funds**
Equine welfare
Animal welfare
Community projects and education
Woodland maintenance
**TOTAL FUNDS**|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
638,324
(943,704)
26,500
(8,307)
4,750
(11,525)
44,872
(35,691)
-
(553)
76,122
(56,076)
714,446
(999,780)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
16,566
(288,814)
-
18,193
-
(6,775)
-
9,181
-
(553)
-
20,046
16,566
(268,768)| |---|---|---| Page 34 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Sensory Garden
Equine welfare
Animal welfare
Community projects and
education
Woodland maintenance
**TOTAL FUNDS**|**At 1/1/19**
**£**
3,974,181
-
-
-
-
-
-
3,974,181|**Prior**
**year**
**adjustment**
**£**
4,186
14,200
5,285
5,414
7,806
553
33,258
37,444|**Net**
**movement**
**in funds**
**£**
(1,669,141)
-
13,000
6,831
2,500
-
22,331
(1,646,810)|**Transfers**
**between**
**funds**
**£**
13,028
(8,050)
(4,978)
-
-
-
(13,028)
-|**At**
**31/12/19**
**£**
2,322,254
6,150
13,307
12,245
10,306
553| |---|---|---|---|---|---| ||||||42,561| ||||||2,364,815| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Equine welfare
Animal welfare
Community projects and education
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
926,543
13,000
8,860
2,500
24,360
950,903|**Resources**
**expended**
**£**
(2,663,212)
-
(2,029)
-
(2,029)
(2,665,241)|**Gains and**
**losses**
**£**
67,528
-
-
-
-
67,528|**Movement**
**in funds**
**£**
(1,669,141)
13,000
6,831
2,500
22,331
(1,646,810)| |---|---|---|---|---| Page 35 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Sensory Garden
Equine welfare
Animal welfare
Community projects and
education
Woodland maintenance
**TOTAL FUNDS**|**At 1/1/19**
**£**
3,974,186
-
-
-
-
-
-
3,974,186|**Prior**
**year**
**adjustment**
**£**
4,186
14,200
5,285
5,414
7,806
553
33,258
37,444|**Net**
**movement**
**in funds**
**£**
(1,957,955)
-
31,193
56
11,681
(553)
42,377
(1,915,578)|**Transfers**
**between**
**funds**
**£**
58,000
(14,200)
(20,478)
(4,383)
(18,939)
-
(58,000)
-|**At**
**31/12/20**
**£**
2,078,417
-
16,000
1,087
548
-| |---|---|---|---|---|---| ||||||17,635| ||||||2,096,052| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
1,564,867
(3,606,916)
**Restricted funds**
Equine welfare
39,500
(8,307)
Animal welfare
13,610
(13,554)
Community projects and education
47,372
(35,691)
Woodland maintenance
-
(553)
100,482
(58,105)
**TOTAL FUNDS**
1,665,349
(3,665,021)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
84,094
(1,957,955)
-
31,193
-
56
-
11,681
-
(553)
-
42,377
84,094
(1,915,578)| |---|---| Page 36 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS – continued Charity** |**At 1/1/20**
**£**
**Unrestricted funds**
General fund
2,314,703
**Restricted funds**
Sensory Garden
6,150
Equine welfare
13,307
Animal welfare
12,245
Community projects and education
10,306
Woodland maintenance
553
42,561
**TOTAL FUNDS**
2,357,264
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
587,921
**Restricted funds**
Equine welfare
26,500
Animal welfare
4,750
Community projects and education
44,872
Woodland maintenance
-
76,122
**TOTAL FUNDS**
664,043|**Net**
**movement**
**in funds**
**£**
(281,258)
-
18,193
(6,775)
9,181
(553)
20,046
(261,212)
**Resources**
**expended**
**£**
(885,745)
(8,307)
(11,525)
(35,691)
(553)
(56,076)
(941,821)||**Transfers**
**between**
**funds**
**£**
44,972
(6,150)
(15,500)
(4,383)
(18,939)
-
(44,972)
-
**Gains and**
**losses**
**£**
16,566
-
-
-
-
-
16,566|**At**
**31/12/20**
**£**
2,078,417
-
16,000
1,087
548
-
17,635
2,096,052
**Movement**
**in funds**
**£**
(281,258)
18,193
(6,775)
9,181
(553)
20,046
(261,212)| |---|---|---|---|---| |||||| |||||| |||||| Page 37 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Sensory Garden
Equine welfare
Animal welfare
Community projects and
education
Woodland maintenance
**TOTAL FUNDS**|**At 1/1/19**
**£**
3,973,571
-
-
-
-
-
-
3,973,571|**Prior**
**year**
**adjustment**
**£**
4,186
14,200
5,285
5,414
7,806
553
33,258
37,444|**Net**
**movement**
**in funds**
**£**
(1,676,082)
-
13,000
6,831
2,500
-
22,331
(1,653,751)|**Transfers**
**between**
**funds**
**£**
13,028
(8,050)
(4,978)
-
-
-
(13,028)
-|**At**
**31/12/19**
**£**
2,314,703
6,150
13,307
12,245
10,306
553| |---|---|---|---|---|---| ||||||42,561| ||||||2,357,264| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Equine welfare
Animal welfare
Community projects and education
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
847,741
13,000
8,860
2,500
24,360
872,101|**Resources**
**expended**
**£**
(2,591,351)
-
(2,029)
-
(2,029)
(2,593,380)|**Gains and**
**losses**
**£**
67,528
-
-
-
-
67,528|**Movement**
**in funds**
**£**
(1,676,082)
13,000
6,831
2,500
22,331
(1,653,751)| |---|---|---|---|---| Page 38 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Sensory Garden
Equine welfare
Animal welfare
Community projects and
education
Woodland maintenance
**TOTAL FUNDS**|**At 1/1/19**
**£**
3,973,571
-
-
-
-
-
-
3,973,571|**Prior**
**year**
**adjustment**
**£**
4,186
14,200
5,285
5,414
7,806
553
33,258
37,444|**Net**
**movement**
**in funds**
**£**
(1,957,340)
-
31,193
56
11,681
(553)
42,377
(1,914,963)|**Transfers**
**between**
**funds**
**£**
58,000
(14,200)
(20,478)
(4,383)
(18,939)
-
(58,000)
-|**At**
**31/12/20**
**£**
2,078,417
-
16,000
1,087
548
-| |---|---|---|---|---|---| ||||||17,635| ||||||2,096,052| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
1,435,662
(3,477,096)
**Restricted funds**
Equine welfare
39,500
(8,307)
Animal welfare
13,610
(13,554)
Community projects and education
47,372
(35,691)
Woodland maintenance
-
(553)
100,482
(58,105)
**TOTAL FUNDS**
1,536,144
(3,535,201)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
84,094
(1,957,340)
-
31,193
-
56
-
11,681
-
(553)
-
42,377
84,094
(1,914,963)| |---|---| ## **Restricted Income Funds** ## **Sensory Garden** The sensory garden fund represents funds to improve facilities within the dog sensory garden. ## **Equine Welfare** The equine welfare fund represents funds to repair fencing and field shelters and to pay relevant staff costs. ## **Animal Welfare** The animal welfare fund represents funds for the improvement of dogs, cats and other small animal facilities onsite. Page 39 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **22. MOVEMENT IN FUNDS - continued** ## **Community Projects and Education** The community projects and education fund represents funds for relevant staff costs, purchase and maintenance of technical equipment and transport costs. ## **Woodland Maintenance** The woodland maintenance fund represents funds for the maintenance of the boardwalk/visitor facility and the woodland management costs. ## **Unrestricted Income Funds** ## **General Fund** The general unrestricted fund represents free funds of the charity which can be applied at the discretion of the trustees. ## **23. EMPLOYEE BENEFIT OBLIGATIONS** The charity operates a pension scheme through The People's Pension. A total contribution amount of £22,276 (2019: £20,911) was paid by the charity for the period. As there are no restrictions related to payment of employees, all contributions have been allocated to unrestricted funds. ## **24. RELATED PARTY DISCLOSURES** The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. There are no transactions with related parties outside of the group. ## **25. ULTIMATE CONTROLLING PARTY** The charity is controlled by the trustees. Page 40 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **26. FINANCIAL INSTRUMENTS Group** The charity has the following financial instruments: |**Financial assets that are measured at market value**
Investment portfolio
**Financial assets that are debt instruments measured at amortised**
**cost**
Investment Portfolio Cash balance
Cash at bank and in hand
**Financial liabilities measured at amortised cost**
Bank loans*
Trade creditors
**Interest and dividend income from financial assets**
Dividend income from investments
Deposit account interest
Current asset investment income|**2020**
**£**
537,688
20,762
154,075
174,837
(50,000)
(30,587)
(80,587)
12,692
967
21
13,680|**2019**
**£**
691,357
13,835
198,893
212,728

-

(45,469)
(45,469)
16,884
214
-
17,098| |---|---|---| * The bank loan dated 6 August 2020 is a 100% government guaranteed Covid-19 bounceback loan repayable over a period of 72 months. The loan is interest and repayment-free for the first twelve months and repayable by equal monthly instalments from August 2021. Page 41 continued... ## **OAK TREE ANIMALS' CHARITY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **26. FINANCIAL INSTRUMENTS – continued Charity** The charity has the following financial instruments: |**Financial assets that are measured at market value**
Investment portfolio
**Financial assets that are debt instruments measured at amortised**
**cost**
Investment Portfolio Cash balance
Cash at bank and in hand
Amounts owed by group undertakings
**Financial liabilities measured at amortised cost**
Bank loans*
Trade creditors
**Interest and dividend income from financial assets**
Dividend income from investments
Deposit account interest
Current asset investment income|**2020**
**£**
537,688
20,762
156,231
27,466
204,459
(50,000)
(29,973)
(79,973)
12,692
967
21
13,680|**2019**
**£**
691,357
13,835
195,042
-
208,877

-

(41,555)

(41,555)
16,884
214
-
17,098| |---|---|---| * The bank loan dated 6 August 2020 is a 100% government guaranteed Covid-19 bounceback loan repayable over a period of 72 months. The loan is interest and repayment-free for the first twelve months and repayable by equal monthly instalments from August 2021. Page 42 ## **OAK TREE ANIMALS' CHARITY** ## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2020** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Appeal donations
Gift aid
Legacies
Grants
Other income
**Other trading activities**
Fundraising events
Animal sponsorship
Lottery income
Trading income in OTAC Trading Ltd
**Investment income**
Dividend income from investments
Deposit account interest
Current asset investment income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Event expenses
**Charitable activities**
Animal care costs
Event expenditure
Community awareness and education
Animal welfare training costs
Travel and subsistence
Equipment maintenance
Cleaning costs
Trading subsidiary purchases
**Exceptional items**
Impairment losses for intangible fixed assets|**2020**
**£**
125,635
2,231
5,636
256,592
197,471
2,295
589,860
26,928
2,205
2,650
79,123
110,906
12,692
967
21
13,680
714,446
250
93,989
3,333
66
2,703
30
1,328
8,459
17,622
127,530
-|**2019**
**£**
125,862
3,218
923
620,170
40,890
1,749
792,812
27,731
2,257
1,397
109,608
140,993
16,884
214
-
17,098
950,903
1,750
93,976
8,923
592
6,253
2,371
1,926
7,622
28,850
150,513
1,653,224| |---|---|---| This page does not form part of the statutory financial statements Page 43 ## **OAK TREE ANIMALS' CHARITY** ## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2020** |**Support costs**
**Finance**
Bank charges
Portfolio management fees
**Human resources**
Wages
Social security
Pensions
Sundries
Staff uniforms and equipment
**Establishment costs**
Rent, rates and water
Insurance
Light and heat
Sundries
Capital development
Health and safety costs
Repairs and maintenance
**Motor and travel costs**
Motor and travel expenses
**Governance costs**
Auditors' remuneration
Operating lease costs
Telephone
Postage and stationery
Accountancy and legal fees
Professional fees
Training costs
IT costs
Travel and subsistence
Advertising
Health and safety costs
Memberships and licenses
Bad debts written off
Freehold property depreciation
Plant & machinery depreciation
Fixtures & fittings depreciation
Carried forward|**2020**
**£**
3,920
6,519
10,439
575,346
17,891
22,276
1,510
1,047
618,070
26,061
15,640
40,332
21,982
5,013
-
3,718
112,746
8,363
12,425
14,549
4,681
5,016
4,950
3,873
-
11,700
476
10,337
2,965
1,896
523
28,489
4,434
11,899
118,213|**2019**
**£**
3,020
6,899
9,919
527,585
17,566
20,911
592
1,705
568,359
28,572
15,732
27,782
24,910
-
472
17,083
114,551
11,640
7,000
9,847
4,153
13,102
11,281
2,391
238
9,116
1,501
17,630
2,183
2,580
-
53,531
4,621
11,397
150,571| |---|---|---| This page does not form part of the statutory financial statements Page 44 ## **OAK TREE ANIMALS' CHARITY** ## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2020** |**Governance costs**
Brought forward
Motor vehicles depreciation
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net expenditure**|**2020**
**£**
118,213
4,168
122,381
999,780
(285,334)
16,566
(268,768)|**2019**
**£**
150,571
4,717
155,288
2,663,216
(1,736,673)
67,528
(1,669,145)| |---|---|---| This page does not form part of the statutory financial statements Page 45