Registered nurnber: 10404912 Charity numbers: 11695118 SC048389 OAK TREE ANIMALS. CHARITY (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Armstrongwatson. Accountants, Business & Financial Advisers
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity, its Trustèès and advlsers Trustees. report Independent auditors. report on th• financial stat•ments Consolidated $t*•m•nt of flnancial activities 2-10 Consolidated balance sheet 16 Charity balance sheet Consolidated statement of cash fl¢>ws 17 78 Notes to the financlal statom•nts 19-47
OAK TREE ANIMALS. CHARITY IA company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Ms E J C HeS Iwgne(124 May 20231 Mr M B Squires Mr S Wells Ms L Taoor Ms M L Sull¢van {restgned 6 September 20231 Ms J M Hansel Mrs R Armstrong {appointe(129 February 2024) Mrs G S Lowry lappoinled 29 February 20241 Company registered number 10404912 Charity registered numbers 1169511 and SC048389 Registered office Oak Tree Farm Wetheral Shields Cadisle Cumbria CA4&JA Chiet executive officeT M5 C A Johrwn Indèpendent auditors Amistrong Watson Audit Limtted Chartered Accountants & Statutory Auditors James Watson House Montgomery Way Rosehill Cartlsle Cumbria CA12UU Page 1
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report together wth the aud1ted financial statements of Ihe Charity for the period 1 January 2023 to 31 December 2023. The Annual report See$ the purposes of both a Trustees, report and a directors, report under company law. The Trustee5 confirm that the Annual report and financial statements of the chantable company comply wilh the current statutory requirements, the requirements of the charitable company's goveming document and the provlslons ol the StdLerrigril of Recommended Practice (- applicablè to charilies preparing their accounts in accordance the Financial Reporting Stsndar¢J appli¢able in the UK and Republic of Ireland {FRS1021 leffe¢tive 1 January 2019). Welcome lo the Annu81 Rewrt and Finanaal Statements of Oak Tw Animals. Charity. Our W15i0n Our vis50n is a wodd where understanding and wnpathy ensure thal all animals are treated kindness and respect. Our Mission Our mission is to help companion animals in need: findiNJ them a safe and comfortable home and helping the community understand their needs. through support and edu(ati. Our Values Our values are inlegrdl lo our eversxlay work. They rellect what we stand for and how we evaluate ourselves We are proud to be non-iudgemental and compassionate in our approach to animals and the people who care lor them We a proactive and value our WO partner organisat¥)ns to firKi effective and evi¢Jence-based approaches to animal welfare We aim to find the right home for the arsimals in our care. prwding ongoing support and advi to ensure life-long partnèrships," and We strive to be innovative. flexible arvj responsive trj meet the needs of animals and our community in changing limes. Page 2
OAK TREE ANIMALS. CHARITY (A ¢ompany limitèd by guarantèè) TRUSTEES. REPORT I¢ONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 ObJ•etlv•s and activities a. Objectives and aims Working for our community,. caring for animals: Mang a (Jrfference. 08k Tw has been helping animals for 115 years. We are passionate atrf)ul animal Welfa and believe that every animal mattels- helping thousands of animals every year. In 2023 we We alAe to assFSt 4.471 animals and their owners. 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 educalion. 2023 continued to Provide challenges for pet owneFS a5 the s¢yial. wlib"c81 and ecorKJmic dimate remained uncertain. Following the pandemic boom in new dogs. the most rent survey by Dogs Tnjst shows that the number of puppy owners and dtyJs aged under one year old has deueased significantly post-covid. This reduction could also be linked to the increase in cost of living and associated finanaal struggle5. In 2023, 19% of people were looking at how they could witch to cheapef dcJ food.. 13.8% considering skipping nonmergency vet care and over 30% looking at reducing items like dog day care, dog walkers and grooming fees. 92% of people said that they were less likely lo gel a doKJ in 2024 due to the ¢>)st of living {Dogs Trust. National SeY Results 20231. Financial concern is Sing dirricutt thoices for pet owners. and there is a real risk of increased relinquishment with a reduced number of households looking to adopt. A perfect stomi, We find dogs, cats and horses loving new homes. rescuing and reh8bilitsting them to give them the best chan of a bright future. Rehoming is intrinsically reath.ve something has gone wrong. Our proactive community approach Seeks lo find solutions for pel owners. wherever practical and appropriate, thus keeping pets in loving homes avoiding unnecessary stress and heartache. We work alongside our partners at foodbanks, social servic&s. housing assoc#ations and other local organisations lo help vulnerable pet owners who desperately need our help. Our 'A Helping Paw programme provides wtal short-lerm fostering for those who are homeless or fleeing domestic violence, helping them rebuild lives whilst knowng their pet is safe and well cared-for. We run community clinics and training dasse5 lo offer welfare advice and support and we also work with schools and community groups lo eduGate the nexi generation of pet owners. b. Strategies for achieving objectives and aims In early 2024 we wll be launching our new three-year strategy to help us navigate these challenges. This strategy is built around four key pillars. Animal Welfare.. Community and Rehoming Hurnan Behaviour Collaboration Sustainability Pago 3
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2023 Objectives and a¢tivÉtits leontinu•d} . Activitiès undèrtak8n to achieve objectives Anlmal Welfare: Community and R•homing Animal welfare is al the heart of our Charity. Our proactive community-based approach, Combined with our flexible Tehoming services allows us lo ensure that we are able to find 501uts.on for animals and their owners in our community. Human Behavlour To effe¢t real change for animal welfare we need to ensure that our education and cornmunity approach provides both practical, eVidenCbaSe solub.ons and long-lasting behawour change. Collaboration Partnerships vrilh other anIsationS have teen wlal for our sUs$ lo dale. Cdlaborations are essential to provide effective, tsmely supkk)rt, improve animal welfare. aviyd duplicalion of service. and to make every per*ny of our supporters donations go further. Sustalnabi15ty Financial and enwronmental sustainability are vital to ensure that we are here for future generations of animals and owners in our region. Throughout this siTategy we will seek to bull d on our income generation plans, manage our costs and seek to minimised our impact on our environment wherever wssible. d. Volunteers Our volunteers are amazing and make an invaluable conlributs'on to our Charity and the animal and pel owners in our community. Without them we w(MJld be unable to achieve the scale of the work that we do. Wè would like to thank them for thair dedication and commitment to our work ar improving the lÈves of animals in our region. 8. Public Benefit The Board of Trustees has considered the guidan¢e produced by the Charity Commission on the provision of public benefit and confirms that public benèfit is promded by the Charivs activities. The Charity operates at Oak Te Fami. a temporary shelter for anima15 while a new home is sought for them. The Charity provides advice and support to pet owners and give5 pea¢e of mind when an animal has to be taken into carè because the owner is no longer able to keep il. The Charity operates an education service on animal weware issues to our communty including indivitjuals, schools. nurserie5, further edu(3tion eststrAishments. businesses aThJ community groups. When establishing stralegies and deciding UF(Jn Ihe main actiw"ties, the trustees have had regard to Charity Commission guidance on public benefit Page 4
OAK TREE ANIMALS. CHARIT IA company limited by guarantee) TRUSTEES. REPORT {CONTENUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Aehi•v•m8nts and pgrfornianc• a. Review of a¢tivities In 2023. bwth yrJuT SUPPOrt, we were able to help 4.471 animals neeAled our assistance through our animal welfare prcJrammes. This indudes 2.351 dcos. 1.760 cats. 68 horses and 292 other animals. With your supporL in 2023 we were able to.. Neuter 294 cats through our Trap Neuler Retum ITNR} prtyjramme Provide supported neutering and vel ca for those in financial difficulty for 117 animals Help 356 people and their pets through our behaviour and training team Provide short-term foster placements for 96 animals throLsgh our'A Helping Paw. programme where their owners are fleeing domestic violence or are homeless. as well as suprx)rbng many other animals thmugh other MmUnIty-based programmes. Our staff and volur¢leer teams work tirelessly lo make SU every case we are able to help has the right indiwdual outcome for both animal and owner. Collaboration with partners is key and we have conts'nued to build our relationships with other charities and organisations to ensure we are abje to support animals in owners in need, signpost to servi¢es appropriately, avoid duplication of seNce and adapt ar develop our programmes effectively in response to need. Unwanted dog behaviour continues to be a key primary reason for relinquishmenl134% of dog intake in 20231. Our behaviouT and training team developed their work throughoLrt 2023 to indude increased provision for 1-2-1 sessions. new dasse5 and increased telephone and email services. With the incTease we have seen in dog reactivity issues in both our intake and comtnunity d¢yJs. we held our first online Understanding Ganine Reactivity Workshop aiming to help ovmers understsnd what their dogs are going through and how lo implement ethical, positive training methods to help them. A proactive approach to welfare remains our priority. To help provKle that front4ine, first response Servi we launched our Ask@ service run by our welfare experts for pet owners seeking advice to any questions about pel ownership. C311$ in 2023 were varied ar inrjuded advice around the XL Bully ban. dog reactivity towards humans, parasite treatment, travel anxiety and re¢all issues_ Education is key to ensufe that we continue to improve animal welfare wth young p8opI8. our widèr community and local professionals. In 2023 our Education Team wored with 881 adults and 1,233 children, providing a raroe of learning opportunities and activities lo prorle animal welfare. Our online learning resources were downloaded over 8.500 tsmes. For the seo)nd year we were invile(I to work (x)Ilaborabvety th eight other welfare charities across the UK to have an educational and Welfa psence at the AptAeby Horse Fair. Our tèam spoke with travellers about horse care, answeiing questions and giving suptx)rt as needal. We were delighted to welcome so many visilors to Oak Tree Farni and our shops in 2023. In 2023 we saw our Charity Shop network grow throughout Cumbria and Northumberland to indude a presence in Blaydon, Ponleland and Durharn_ These shops not only gener8te vital income for our work. but also provide access points to OLJr services at the heart of our Community. Our shop5 have developed nelworks wrthin their comrnunity, providing opkK)rtunities lor partnership wod(ing I31 fo(Mlbanks. suprK>rt servicès and direcdy to owners in need. Page 5
OAK TREE ANIMALS. CHARITY IA company limited by guaranteè) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review . Revlew of the year We Continue to diversity our income streams wlh the develow)ent of our Trading Subsidiary and we are extremely grateful for the generous legacAe5 left to Oak Tree. 2023 Ir TYe 2023 TOTAL % OF INLON& D76.043 28. Donations 261.736 10.93 Grants 69,916 1,379,802 19 Trading OtheT i7.60 0.33 1022 Int1 fb 2022 TOTAi % OF INCOME I.5.63? 186,314 l(N).813 980,755 7.793 Donations Grants Tradin Other 8.03 34 42.25 034 The key financial facts for year ended 31st December 2023 are.. income.. £2,395,366, expenditure.. £2,437.769 (with the difference between in¢ome and expenditure being a defial of £42.3031- There was a gain on investrnents of £12.744 and a gain on revaluation of fixed assets of £75.000 during 2023. Total unrestricted reserves at the end 012023 were £2,682,385, wilh £723.089 tIng a(tessible reseNes. and the mainer being tangible fixed a&8ets, primarily our land and lIklIngS. By comparison, the accounts of year ending 31sl December 2022 showed incorne of £2.321,307, and expenditure of £1.970.470 producing a surplus for the period of £350.837. We would likè to thank all of Ihose supporters and fvndefs vh)0 so generously supported our work this year.. Ai¢e Noakes Memorial Charitable Trust. Artrimal Friénds Insufance, Amstrong Watson, ADCH with Mars Petcare. Box Power CIC,. Burns Pel Nutn"b"on. Caledonia Park. Carfisle Refrigeration. Cartmell Shepherd, C operative Local Communty Fund. Cumbria County Counc41, Groundwork Tes¢0 Community Grants, Health4HoT5es, HSBC, Kierweb, Maiiorie Coole Animal Chartty Trust, Mrs DM France-Hayhurst Charitable Trust, PetPlan Charitable Trust. PostCLxle Neighlyxjrhood Trust, The Arthur Camp Foundation Trust, The Astor Foundation, The Audrey Emma Lamb Trust. The Bary Green Memorial Fund, The Catherine Cookson Charitable Trusl. The Charity of Stella Symons, The David Family Foundation. The Elise Pilkington Charitablè Trust, The Emèrson Foundation, The Michael and Shirfey Hunt Charitable Tmst, The Prowling Charitable Foundation. The Rose Animal Welfare Tt. The Tula TrusL The Walker Trust. The Turnpike Charitable TTU51. Page 6
OAK TrEE ANIMALS. CHARITY IA company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 b. R•sep*•s policy Each year the Board of Tru51ees reviews the reserves of the tharity in line with the Chariws investrnenl policy. looking at income and expenditu an(J Ihe overall value of reseryes. At the balance sheet date. unrestricted reserves exduding tangible fixed assets amounted to £723,089. . Investments poli Under the constitution and rules of the Charity. the Board of Trustees has the power to make any investments as deemed fit. mindfvl that any such investment should be of an ethical natLÈre and Inje to the objectives of the Charity. The investment wlicy sets out the reqU1ment for $Ve$ to be invested conservatively 8nd in ITne wffh the Charity Commission guidelines with a dwersified portfolio to minimise risk_ An ethical policy has been adopted to avoid investments ihat conllict the aims of the Chanty- This policy predudes direct investment in companies involved in vivisection or drug testing on animals. Page 7
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE Y&4R ENDED 31 DECEMBER 2023 Structure. govemance and rnanag•m•nt a. Constitutlon Oak Tree Animals. Charity is wistered as a charitable company lirntted by guarantee and was set up by a Trust deed. b. M¢thods of appointment or election of Tru••S The management of the Group and the Charity is the re5px)nsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Day to day management is L1elegated to the Chief Executive Officer, Ms C A John50n. Policies adopted for the inductlon and training of Trustee5 I new tnjstees undergo a perhod of inductM)n and training, supported by the Trustee Board and the Senior Management Team. 51 is vital our trustees have u*to4ate relevant knowtedge relating to govemance and our sector, and hen this wntnitm$nt to training continues throughout their period of trusteeship. d. Pay policy for key management personnèl The Board of Trustees sels the remunerdlion of th& management team in line th tsir market rates, taking into consideration Ihe specific requirements of the rrAe. The performan and level of remuner8tion is reviewed annually. e. Related party relatlonships The Charity has a wholly owned subsidiary trading company. OTAC Trading Limiled, to promote hospitality. retail and events from Oak Tree Fami and other Charity prOpe"e$. Al ptofits ftom the trading company are donated lo the Charity. f. Financial risk managèmènt The Trustees have assessed the major risks to which the Group and the Charity are exposed, in particular those related to the operatsofts and finances of the Group and the Charity. and are satisfied that systems and procedures 8re in place to mFb'gate exposure to the major risks. g. Decision making The Board of Trustees meets throughotrt the year to make deasions regarding the diTr¢tion and govemance of the Charity in accordan wlh the goveming doc#JmenL No business is transacted at any general meeting unless a quorum of three rnembèrs is presenl, with decisions taken Ihrgugh a votè indicated by a show of hands, with each member Èntiljed to one vote. In the event of deadlock thè Chair of the Board may cast an additional deciding vote. A resolution may also be made tn wMb"ng by simple majority of the members who would have been enlilled to vote on it were it held at a general meeting. Page 8
OAK TREE ANIMALS. CHARITY IA company limittd by guarant••) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 31 DECEMBER 2023 Plans for future periods 2024 has some significant challenges ahead. Pel owners across the UK are stnjggling wilh the increased cost of living and pet costs. Shelters across the UK are seeing an increase in the number of significant behaviour issues in dogs and cats and intake lists throughout the county are at re¢or(I levels. Our own c¥)st levels are rising and our generous donors are also facing their own finanrAal thallenges. With our commitrnenl lo our region, our proactive, communiWased approach and our strategic model for sustainability. we believe we are in a strong position to meet these challenges and ensure animals and their owners received the support they need. now and in the frjtU. 2024 sees the launch of our new stratÈgy ri(KI and wll see our Charily. Continuing to focus on fostering options and develop altemate rehoming modds Broadening our approach to education wih a specific focus on human behaviour change Increasing the use of our charity shop netwofk to meet all of our four stralegic pillars Creating a sustsinable and resilient stwcture for our Charitys future Diversifw'ng our income streams Embedding our ask@ service throughout our whole community to enwurage e8rty intervention Enhancing our collaborations other chariti.es and our peers to maximise our impact. Statement of Trusteès. rèsponsibilFIiès The Trustees (who are a150 the directo of the Charity for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounb'ng Standards Iunited Trfj"ngdom Generally Accepted Accounting Practi1. Company law requires the Trustees to prepare financial statements for each f1nancial . Under company law, the Trustees must not approve the finanrial statements unles5 they are satisfied that ihey give a true and fair view of the state ol affairs of the Group and the Charity and of their incoming resources and application of resources, induding their income and expendrture. for Ihat perKxl. In preparing these financial statements, the Trustees are required to.. selecl suitable accounting policies and then apply Ihem consistenlly, observe the methods and princIeS of Èhe Charities SORP IFRS 1021; make ju¢Jgments and accounting estimates that are reasonable and prudent.. state whether applicAble UK A¢¢ounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements." prepare the Iinancial statements on the going concern basis unless it is inappropriate to Presume that the Group wll continue in busine55. The Trustees are responsible for keeping adequate accountsng recoTds that are sufficient lo show and explain the Group and the Charity's transactions and disclose with asonable accuracy at any time the financial position (>f the Group and the Charity and enable them lo ensure thal the finanaal statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe assets of ihe Group and the Charity and hencè for taking reasonable steps for the prevenbon and detection of fraud and other irregularities. Page 9
OAK TREE ANIMALS. CHARITY IA company limited by gvaranteel TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 OECEMBER 2023 Disclosure of information to auditor5 Each of the persons who are Tnjstees ai the lime when this Twslees. report Is approv has Confirmed that". $0 lar a5 that Trustee is &vare. there is no leVant audrt Infomiation of which the chantable group's auditors are unaware. and that Trustee has taken all the stèps that ought lo have been taken as a Trustee In order to be aivare of any relevant audtl Infomiation and to establisl) that the charitable group's auditors are aware of that Information. Auditors The auditors. Armslrong Walson Audrt Limrted. have indicated their wllingness to continue in oftice. The designaled Trustees iNIll propose a Tr.otion reappoinltng The auditors at a rneeting of the Trustee5. rder of the members of ifr,e board of Trustees Sned on their behalf by. Mr S Wells Trustee Date Page 10
OAK TREE ANIP+lALS' CHARITY IA company limited by guarnnteel INDEPENDENT AUDITORS. REPORT TO THE MEM8ERS OF OAK TREE ANIMALS. CHARITY Opinion We have audited the financial statements of oak Tree Animals. Charity Ithe'parent charitable companll and its sub51diarie5 (the 'grovp'l for Ihe year ended 31 Oecernber 2023 which comprise the Consolidated statement ol financial activities. the Consolidated balance sheet. the Chafiiy balan¢e sheet. the ConsolidateiS Statement ol ash flows and the related notes, indudrng a summary of significant accounting policies. The financial reporting framework Ihal has been applied in their preparation is applicable taw and Unrted Kingdom Accounting Siandards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounling Praclicel. In our opinion the financial ststements.. give a flue and latr view of ihe slate of the Group's and of the parent charilable cornpany's affairs as al 31 December 2023 and of the Group's incoming resources and application of resources. including ils income and expenditure for Ihe year then ended". have been properfy prepared in accordance with United Kingdom Generalty Accepted Accounting Practice". and have been prepared in aGcordanGe the requirements of the Companies Act 2006. the Charities Act 2011. the Chafities (Retborts and Accounts) Regulations 2008. the Charrtiès and Trustee Inveslment IS¢otlandl Acl 2005 and regvlatitsns 6 and 8 of the Charities Accounts (Scollandl Regulalion5 2006. Basis for opinion We conducted our audit in accordance wth lftternational Standards on AudilLng IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are lurther described in the Auditors. responsibilities for the audit of the financial siaiements section of our report. We are independent of the Group In accordance wlh the elhical requiremenis that are relevant to our aydil of the financial stsiements in the United Kingdom. Including ihe Financial Reporting Council's Ethical Standard. and we have fulfilled our other eth&cal responsibilities in accordance wth Ihese requiremenls. We believe that the audit evidence we have obtained 15 5uifiGient and appropriate lo provide a basis for our ownion. Conclusion5 relating to going ¢oncem In auditing the financsal stalements, we have concjuded that the Trustees. use of the going Goncem basis ol aceounling in the preparation ol the fmancial stalements is appropriate. Based on the work we have perforTned, we have not identified any material uncertaintie5 relating to events or conditions that. individvally or cdlectwety. may cast stgnrficant doubt on thè Group's or the parenl charilable companls ability lo continue as a going concem for a peri of at least Iwelve months Irom when the financial statements a authorised lor issuè_ Our responsibilities and the responsibilities of Ihe Trusiees wth respe¢t to going concern are described in the relevant sedions of this report. Pa9e11
OAK TREE ANIMALS. CHARITY IA company Itmited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OAK TREE ANIMALS, CHARITY ICONTINUEDI Other inforniation The other infomiation comprises rhe tnformatton included in the Annual report olhei than the financial statements and our Auditors, reptsrt thereon. The Tnjstees are responsiblè for the other tnformation conlained within the Annual report. Our opinion on the financial statements does not cover the other infonnation and. except lo the extent otherwise explicrtly stated in our report. we do nol eXpsS any lom of 35surance conclusion thereon. Our responsibility is to ad the other infomation and. in doing $0. consider whether the other Infomialion is materially Inconsistent with the fjnancial statements or our kTredge obtained in the course of the au(Jit, or otheTWTse appears to be Material misslaled. 11 we tdentify such rnaterial inconsistencies or apparent mèlerial mi55talements. we are required to detemine whether this gNes rise to a maierial misstatement in the financial statements themselve5. If. based on the work we have perfo¥med. we conclude thal there És a material misstatement of this other infomiation. we are required to port Ihat fact. We have nothing lo report in this regard. Opinion on other matters prescribed by the Companie5 t 2006 In our opinion. based on the wowk undertaken in Ihe ¢our5e of the audit". the information given in the Trustees. report for the financial year for which the finanaal st3temenls are prepared is consistent wth the fsnancial statement5. the Trustees. report ha5 been prepared in accordance wlh applicable legal requirements. Matters on whÉch we are required to report by exctption In Ihe light of Ouf kno%edge an¢J understanding of the charitable company and ils environment obtained in the course of the audit. we have not identifie(I material misstatements in the Trustees. report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 the Charities Act 2011. the Charitses IReports and Accounts) Regulations 2008 the Chanlie5 and Trustees Investment (Scotlandl Act 2005. and the Charities A¢¢ount5 (S¢tstlandl RegvEalions 2006 las amended) require us lo report to you il. in ovr opinKJn' the parent charitable company has not kept adequate and sufficient accounting records. or returns adequate for our audit have rt been received from branches not by us." or the parenl chantable c¢ynpany fanual statements are not in agreement with the accounting records and retyms". or certaill disc105ure5 of Trustees. remuneralion specified by law are not made". or we have not CeIved all the Infomiatiors and explanation5 we require for our audit. Responstbilities of trustees As explatned more lully in the Tru5tees' responsibilities statement. the Trvstees Iwho are also the directors ol the charilable company for the purposes of company lawl are responsible for the preparation of the fin3ncial siatements and for being satisfied that they give a true an¢J fair wew. and for such illlerllal CDnlrol as Ihe Trustee5 detemine is necessary to enable the preparation of financial 5talements that are free from material misstalement. whether due to Iraud or erTOr. In preparing the financ¥al statements. Ihe Trustees a responsible for assessing the Group'5 and the parent chaff table company'5 ability to conlinue as a going concern disclosing. as applicable. matters relalecl lo going concern and u51ng Ine going concem basis of accounting unles5 the Trustees either tntend lo liquidate the Group or the parent charitable company or to cease operations. or have no realistic allerllative but to do 50. Page 12
OAK TREE ANIMALS. CHARITY IA company 11rnit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OAK TREE ANIMALS. CHARITY ICONTINUEDI Auditors. responsibilitie5 for the audit of the financial statements We have been appointed as auditor under section 4411llcl of rhe Charities 3nd Trustee Investment (Scoilandl Act 2005 and under the Cornpanie5 Art 2006 and report in accordance wth the Ad and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement. whether due to fraud or error. and to i55ue an Auditors, report that Includes our opinion. Reasonable assurance is a high tevel of assuranee. but is not a guarantee that an audil conducted in accordance with ISAS IUKI wll always delect a material misstalement when it exists. Misstatement5 Gan arise Irom fraud or error and are considered material rf. indivkyually 01 In the aggregate. they could reasonably be expeded to influence the econornic deosions of users taken on Ihe basis ol these financial statements. IrregulatIeS. including fraud. are snstance5 of non-compliance wth laws and regulation5. We design procedures in line with Oltr responsibilities. outlined above. to detect material rn1s5t3tements in respect of iTregulanties, including fraud. The extent to which our procedures a capable of detecting ir¥egularities. including fraud 15 detailed below". Our approach to idenlfying and assessing Ihe risks of material mssstatement in SpeCt ol irTegularits'es. including fraud and non•compliance with laws and regulations. was as follows. the engagement partner ensured that Ihe en9agement team couectivety had the appropriate competence. capabilities and skills to idenlfy or recognise non<ompliance with applicable laws and regulations.. we identified the laws and regulations applicable to the charrty through discussions with trustees and other management. and Irom OUT commercial knowledge and expenence of Ihe not for profil sector." we focused on specific laws and regulations which we considefed may have a direcl material effect on the financial statements oi the operations ol the charity. we assessed the extenl of compliance with the laws and regulaiions identsfied above U)rough making enoviries of managernenl and inspectirtg legal correspondence". and identified laws and regulations were communicated within the audil team *egulady and the leam remained alert to instances of non-compliance throughout the audil. We assessed the susceplibility of the chariW5 finanryal statements to material misstatement. including obtaining an understanding of how fraud might occur by. rnaking enquirie5 of management as to where they considered there was susceptibility to fraud. their knowledge ol actual, suspected at)d alleged fraud". and consitjering the Internal oontrols in place to mitlgate nsk5 01 fraud and non-compliance with laws and regulations. To address the risk of fraud through managemenl bias and override of controls, we.. perfom7ed anatytical procedures to Kjentify any unusual or unexpecied relationships.. tested journal entries to idenify unusual iransactions assessed whether judgemenls and assumptions made in determining the accounting estirnale5 were Indicative of potential bias.. and snvestigated the rationale behind significant or unusual transact50ns. In response lo the fisk ol Irregularibes and non-compliance vith laws and regulations. we designed procecsures which included. but viere not limiied io.. agreeing financial statement disclosures to undedwng supporting documentation", reading minutes of meelin9s of those charge¢J viith govemance.. and enquiring of management as io actual and wtential lrttgation and claims. Page 13
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEM8ERS OF OAK TREE ANIMALS. CHARITY ICONTINUEDI There are inhwent limitalions in our audrt prrLedures descthd above. The more removed that laws and regulations are from financial transactKJns. the less like it is that we would become aware ol non-compliance. Audrting siandards also lunit the proCedUS required to identrfy non<ompliance wrth laws and regulations lo enquiry of the trustees and tsthèr management and the inspeclion of regulatory and legal corre5pondenGe. rf any. Matellal misslatemenls that aTise due to fraud can be harder to detect than those that arise ffun error as they may involve deliberate concealment 01 collusion. A further descriplK)n of our responsibiltlies for the audrt of the financial staternents is located on the Financial Reporting Coun1.5 website at. VMW.frc.or .uklaudrtorsres onsibilities. This description lomis part of our Auditors, report. Use of our report This report is madè solely to the chariiable compantys members. as a body. in accordance wth Chapter 3 of Part 16 of the Companie5 Act 2006. and to the charitable company s Iruslees. a5 a body. in accordance with the Charities (Reports and Accounts) Regulations 2008 and {ulatIOn 10 of the Charities Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those matters we ère required lo stale to them sn an Auditors. report and lor no other purpose. To the fullest extent permed by law. we do not accept or ass¢Jme responsibilty to anyone other than the charitable company and its members. as a bcKly. for our audit worf(. for this report, or for Ihe optnions we have lorned. Karen Raè FCCA (Senior statutory audilor) Armstrong Watson Audit Limited Chartered AcGountants & Slalulory Auditors Carfi51e Date. 13 se*1zI 2oS Armstrong Watson Audit Limited are eligible lo act as aLtditors in terms of section 1212 of the Companies Act 2006. Page 14
OAK TREE ANIMALS. CHARITY (A company limiw by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES UNCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDEO 31 DECEMBER 2023 Unrestricted fund5 2023 Restricted funds 2023 Total funds 2023 Tol81 rtJr?ds 2022 Note Income from: Donaltons and legacies Other trading activities Investments 974,401 1,379,802 7,869 33,294 1,007.695 1,379.802 7.869 1.332. 759 980. 755 7. 793 Total income 2,362,072 33.294 2,395.366 2,321.307 Expenditure on= Raising funds Charitable activities 631.608 1.592.104 631,608 1,806,161 489,279 1,481,191 214,057 Total expenditure 2,223,712 214.057 2,437.769 1.970.470 Net incomellexpenditurel before net gainslllossesl on investmènts Net gainslllossesl on investments 138.360 12,744 {180.7631 142,4031 12,744 350,837 (69, 676) Net incomellexpenditurel Transfers between funds 151,104 19,986 {180.7631 119.9861 129.6591 281. 167 21 Net movement in funds before olher recogni5ed gainslllossesl 171,090 1200.7491 129.6591 281. 761 Other recogntsed gaFnslllosse51= Gains on revaluation of fixed assets 7S,000 75,000 Net movernent in funds 246.090 1200,7491 45,341 281.161 Reconciliation of funds.. Total funds broughl fonyard Net movement in funds 2.436.295 246,090 291,437 1200.7491 2.727.732 45.341 2,446.571 287.167 Total funds carried forward 2,682,385 90.688 2,773.073 2. 72T. 732 The Consolidated statement ol financial activities ¥ncludes all gains and losses Tecognised in Ihe year. The notes on pages 19 to 47 form part of these financial statements. Page15
OAK TREE ANIMALS. CHARITY IA cofflpany lirnited by guar311teel REGISTERED NUMBER.. 10404912 CONSOLIDATED BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Note Fixed assets Tangible assets Investments Investment property 13 1,538.405 287.558 133.333 1. 177,321 311,204 408.333 15 14 1,959,296 1.896.858 Current assets Stocks 16 17 13.785 360.034 679.788 7.345 966. 188 49.545 Deblors Cash at bank and in hand 1.053.607 1.023.078 Credrtors.. amount5 falling due within one year 18 {223.240) f164. 762? Net current assets 830,367 858.316 Total assets les5 eurrent liabilities 2.789,663 2.755. 174 Creditors". amounts falling due after more than one year 19 116.5901 (27.442) Total net assets 2.773.073 2. 727.732 Charity funds Re5tritled funds Unreslricled funds 21 90,688 2.682,385 291.437 2.436,295 21 Total funds 2,773,073 2. 727.732 The Tnjstees acknowledge thesr rèspoftsibilities for complwng with Ihe requirements of the Att with respect to accounting records and preparation of ftnanual statements. The financial Statements were approved and aLrthorised lor issue by Ihe Tru5tee5 and signed on their behalf by.. Mr S Wells Trustee Oate. The note5 on pages 19 to 47 form part of these finanoal statemen15. Page 18
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) REGISTERED NUMBER: 10404912 CHARITY 8ALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Fixèd assets Tangible asss Investments 13 15 14 1.508,957 287,559 133,333 1. 157.957 311.205 408.333 Investment pr¢>perty 1,929,849 1.877.495 Current assets Stocks Debtors Cash at bank and in hand 16 273 273 952.673 24. 149 17 380,500 592.278 973.051 977.Q95 GreditOT5 amounls fèlling ¢Jue within one ar 18 1142.0481 17 18. 1581 Net current assets 831.003 8i8.937 Total assets les5 current liabilities 2.760.852 2. 736,432 Creditors amounis ialling aue atet more Ihan one yeaf 19 116,5901 127.4421 Total net asseis 2.744.262 2. 708 99CI Charity funds Restricied funfJs 21 90.688 2.653.574 291437 2.417i53 Unresiricled iunds 21 Total lun¢Js 2.744.262 ?. TQ8 99Q The Cnarily's rEei movement Ip tnos '.or the lear i'las :3i.?1212022- r272 2401. The Trusiees ackrtJ:'Iledge their TesPO.rySLbililies fci corn.plpD.g viith '.na reqviremanis of th.e Act 'Nilh respect io accodlltlllg records and preparaiion ?1 iinancial steiement5. The Inan I pWalèmènls':iere appTove(S and author15ed lor Issu Oy ine Tfuslees and signed on Ineir bèb.all Dy" Mr S Wells Tru5Lee Date Tne rioies ofl oag&s 19 io 47 forfry part of &r.e5e firEanca31513iemeniS. Page17
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operating activities Nel cash used in operating actiwties Inote 241 685,897 1392. 729) Cash Ilows from Fnvesting activities Dividends. interests and rents fr<Mn investment5 Purchase of tangible fixed assets Proceeds from sale of investfflenls Interest received 6,336 189,1371 36,262 1,533 (90,9021 77,234 6t3 Net cash used in Investing activities 145,0061 15,8751 Cash flows from financing act¥vities Repayments of borrwng Decfeasellincreasel In investrnents Interest paid 110,0001 Ifo.o()01 2820 16481 Net cash used in finaltcing activities 110.6481 17.1801 Change in cash and cash equivalents in the year Cash èn¢J cash equivalenis al the beginning of the year 530,243 1305,7841 49,545 355 329 Cash and cash equiv31ent5 at the end of the year 679,788 49 545 The notes on pages 19 to 47 fom) part of these iinancial siaremeftls Page 18
OAK TREE ANIMALS. CHARITY IA cornpany limited by guarantee) NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General inforrnation Oak Tree Animals, Charity is a a u)mpany limited by guarantee regislered in England and Wales and also a Charity registered Mth both the Chanty Comm1s5ion and Ihe Office of the Scottish Charity Regulalor. The principal activity ol the Charity is the cace and iehoming of animals in need as wetl as comrnunity educalH)n and engagement on aftimal welfare. These accounts ate preSle in pounds steding and afe rounded to the neaiest pound unle55 Stated otherwise. Accounting policies 2.1 Basis of preparation of financial 5tattments The financial statements have been prepared in accordance with the Charitie5 SORP IFRS 1021 AGcounting and Repo.n9 by Charitses.. Statement of Recornmended Practice app11cabl8 lo charities preparing Ih•r accounts in accordance with the Finanual Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 1021 leffective l January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Oak Tree Animals. Charity ffleet5 the definition of a public benefil entty under FRS 102. Assets and liabilities are inrtially recogni5ed at histori1 ¢ost or transaction value unless Othejwse stated In the relevant accounting policy. The Consolidated $13tement of financial actiwties ISOFAI and Consolidated balance sheel consolidate Ihe financial siatements of the Charily and its substdiary undertaking. The results of the subsidiary are consolidated on a line by line ba5Tr5. The Charity has taken advantage of the exemption allowed under section 408 01 the Companies Act 2006 and has nol presented il5 own Statement of financial activities in Ihese financial statements. 2.2 Goin9 concern The Trustees have rewewed the budget5 and cashflow forecasts for the coming 12 rnonihs in their going concern assessment including various scenarios where Income is reduced and costs are increased. They are confident Ihat Ihrough the management of current funds available and pruderit planning, they have sufficient resources available to rneet Iheir needs for a period beyond 12 months from the point of signing. 2.3 Income All income is recognised once the Charity has entstlement to Ihe income. it is probable that the tnc<)me be received and the amount ol income rl¥able can be measured reliably. The recognition ol income froffl legacies is dependenl on establishing enlillement. the probability ol receipt and Ihe ability lo estimate wrth suffjcienl accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has suffIcient evidenTr Ihat a gift has been left to them (through knowledge ol the e$tence of a valid viill and the death of the benefactor) and the executor is satisfied that Ihe property in qvestion will nol be required lo salisfy claims In the eslale. Receipt of a legacy must be recognised when It 5s probable that It will be received and Ihe lair value ol the amount ceIV8b1e. which will generally be ihe expecied cash arnounl lo be dislribuled lo the Charity. can be reliably measured. Page 19
OAK TREE ANIMALS. CHARITY (A company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accourhting policies Icontinued) 2.3 Income (continued) Grants are included in the Consdidated staiement of financial aclwities a receivable basis. The balance ol income received for specrfic purposes btjt not exrtde during the period is shown in the relevant funds on the Balance sheet. Where income Ès received in advance of entitlernenl of receipt. its recognition is deferred and included in creditors as defer income. Where entitlement occurs before income is receNed. the income is accnJed. Donated goods. professional seTrices and facilitie5 are Tecognised as incorTre when the Charity has ¢onlrol over the item. any conditions associated wtth the donated item have been met. Ihe receipt of econornic benefit from the use by Ihe Charity of ihe item is probable and that economic benelil can be measured Teliably. In accordance wilh Ihe Charities SORP IFRS 1021. general volunteer time is nol recognised. As it is impractical lo measure the fair value ol gc*)ds donated for resale. the donated goods are recogni5ed when they are sold. 2.4 Expenditure Expenditvre Is recogni5ed once Iheie is 3 legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured feliably. Expenditure is classified by aclivity. The c051s of each activity are ma¢Je up ol total of direcl costs and shared costs. including support costs involved in undertaking each actity. Direc¢ costs attributable to a STngle activity are allocated directly thal actiwty_ Shared costs which contribute to more than one activity and support costs which are not attributable to a single activty are apportioned belween those activitie5 on a basis consistenl with the use of resources. Central staff costs are allocaied on the basis of ttme spent. and depreciation charye5 allocated on the portion of the asset's use. Expenditure on raising funds indudes all expenditure incurred by the GftJUP to raise funds for it5 charitable purposes and Includes c9515 of all fundraising actiwties event5 and non<harilable trading. Expenditure on charitable aciiviiies is incurred on directly undertaking the acltvities which further the Group's objectives. as well as any associated support costs. Wages and salaftes have been app0"0ned in line wrth the activities undertaken by the employee. 2.5 Interest reeeivablè Interesl on funds held on deposrt is induded when receivable and the amount can be measured reliably by the Group". this is noma1 upon notification of the interest paid or payable by the institution with whom the fund5 are deposited. 2.6 Volunteers The valve ol the 5erwces provided by volunteers is not inrpOrated into these financial statements. Further delails of their contributson is provided in note 7 to these financi?1 statements and in the Trustees report. Page 20
OAK TREE ANIPaALS' CHARITY IA company limited by guarants¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Gontinuedl 2.7 Taxation The Charity is considered lo pass the tests set out in Paragraph 1 S¢hedule 6 ot the Finance Act 2010 and therefore it meets the defin.0ft of a charitable cornpany for UK corporation tax purposes. Accordingly. the Charity 15 poients'ally exempt from tsxation in re5ped of income or capital gains received within categofies covered by Chapter 3 Part 11 of the Corporabon Tax Act 2010 or Section of the Taxation of Chargeable Gains Ad 1992, to the extent that such income or gains are applied exclusively lo tharitab purposes. 2.8 Tangible fixed assets and depreciation Tangible fixed assets are inrtialty reGognised at Cost. After recognition, under the revaluation model. tangible fixed assets whose fair value can bè measured reliably shall be carried at a revalued amount. bein9 their fair value al the date of fevaluation less any subsequent accumulated depClatIon and subsequent accurnulated impairment losses. The charity hès adopted the revaluafion mix5el to revalue rtems of freehold propety whose fair value an be measured reliabty. The revaluations shall be made wrth sufficient regularity to ensure that the carrying amount does nol differ materially Irthn that which wtsuld be deterynined using fair value at the ènd ol the reporting period. The fair value of land and buildings is usually determined from mathet-based ¢dence by apprai531 that is normally undertaken by professionally qualrfied valuer5. RevaluaD"on 9ains and losses are fecognised in lhe Statement of Financial Activities and added lo reserves in a separate Revaluation reseThe. Investment property rented to other group entilies and accounted loi under the c05t model is staled at histOfiG Cost less accumulated deprecialK•n and any accumulated impairment losses. Al each rep)rting date the Charity assesses wheiher there Is any indication of impairment. 11 such Indlcation exists. the recoverable amount of the asset is detemiined to be the higher of its fair value less costs to sell and rt5 Wdlue in use. An impaiment loss is rewgnised where the carrying amount exceeds the recoverable amount. Land is not deprecsated. Depreciation on other assels is charged so as lo allocate the cost ol tangible fixed assets less their residual value over their eslimated useful live5. on a straight line and reducing balan¢e basis. Depfeciath)n is prov•Jed on the folhwing ba5i5". Freehold property Plant and machinery Motor vehicles Fixtures and fiitings Computer eqLsipment 2% reducing balance IS% reducing balance120Yo Straight line 25Vo reducing balance 15% feducing balance125% straight line 33% reducing balance Depreciation is charge(l on a monihty basis from the calendar month following acouisilion or on the bnnging into use of the asset. whichever is Ihe laiter_ A full month 5$ charged In the month of d*sposal. Page 21
OAK TREE ANIMALS. CHARITY IA cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OECEM8ER 2023 Accounting policie5 Icontinued) 2.9 Investments Fixed asset investments are a fom) of financF31 instrument and are initialty recognised at their Iransaclion cost and subsequently measured at lair value at the Balance sheel dale. unles5 the valve ¢annot be measured reliab in which case it is measured at cost less impairnient. Investment gains and losses. whether reali5eol or unrealised. are combined and presented as 'GainsllL05sesl on inveslments, in the Consc4idaled statement ol financial actiwties. Investments in subsidiaries arè valued at tost le$5 prtivi5ion for impairment. The investment portfolio held as fixed asset investrnents are measured at market value. Fixed assets and investments are 5ybject to review for impaiment when thefe is an indication of a reduction in their carrying valve. Any impairment 5s recognised in Ihe year in which it occurs int he corresponding calegory in the Statement of Financial Aclivrties. 2.10 Siocks Slocks are valued at the lowef ol cost and net teIs8b1e value after making dve allowance for obsolete and slow-moving stock5. 2.11 DebtOTS Trad& and other debtors afe fecognised al the settlement amount after any trade discount offered. PrepayTnenls are valued at the 3moLsnt prepaid net of any trade discounts due. 2.12 Cash at bank ar¢d in hand Cash at bank and rn hand includes cash and short4em highty liquid investments wlh a short maturity of three months or le55 frC the date of acquisrtion or opening of the deposil or similar account. 2.13 Liabilitres and provisions "abilities are recognised when Ihere is an oblvJalion at the Balance sheet date as a result of a past event. rt is probable that a transfer ol economic benefit Mll be required in settlement. and the amount of the settlemenl can be eslimated reliably. Liabtlities are recogni5ed at the amotsnl that the Charity anticipates it wll pay to setlle the debt 01 the amount il has received as advanced PayTnenls for the goods or Services it must provide. 2.14 Financial instruments The Group onty has financtal assets and financial liabilitte5 of a kind that qualify a5 basic financial Instruments. Basie financTal instnjmenis are initially recognised at Iransaclion value and subsequently rnea5ured at their settlement walue with the exception ol bank loans which a subsequently rneasured at arnortised cosl using the effective interest method. Page 22
OAK TREE ANIMALS. CHARITY {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 2.15 Operating leases The Group as lessee Rentals paid under operating leases are charged lo the Consolidated Statement of financial a¢tiviiies on a 5traight-line basis over the lease iem. The Group as lessor Rental income from operating leases is credited to the Consolidated statement of financial aclivilie5 on a straight.line basis over the lease lerni. 2.16 Pension5 The Group operate5 a defined contritiution pension Scheme and the assèts ol this Scheme are held separate to those of Ihe Group in an in(Jependently admin*stered fund. The pension charge represents the amounls payable by the Group to the fund in spe of the year. 2.17 Fund accounting General funds are unreslricled fiJnd5 Whkn are available for USÈ ai the discretion ol the Trustees In fvrtherance of the general objectives of the Group and which have not been designated lor other Purposes. Restricted funds are funds whtch are lo be used in accordance vrith 5peufic restridions imposed by donors or which have been raised by the Group for particular pLsrp05es. The costs of raising and adminislenng such funds are charged against the specific fund. The aim and use of each restricted fund Is sei oul in the notes to the financial statements. Investrnent incorne. gains and losses are allocated to Ihe appfopriate fund. Page 23
OAK TREE ANIMALS, CHARITY IA company limited by gvaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Critical accoultling estimates and areas of judgment Estimates and judgments are ¢onb"nualty evalualed and afe based on historical experience and other factors. inctuding expectations of future evenls that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Charity make5 estimate5 and assumplions conceynsng the future. The suIt1ng accounting estirnates and assurnptions will, by definits"on. seldom equal the related actual results. The esiimales and assumptions that have a significanl risk of causing a material adjustment to the Garryng amounts of assets and liabilities within the next financial year are discussed below. Critical aaS of judgment.. Depreciation and impairnient of fixèd assèts Depreciation rates are cakulated based on the estimated useful lrfe of each class ol asset hekl. Asset5 are reviewed annualty for any signs of impaiment and rf such impaifment exist5. judgemenl 15 exercised to determine if the a55et is corredy valued. The carrying amount of fixed assets is included wilhin the tangible fixed assets note. Valuatton of investment property The investment property 15 valued by a professional wdluer periodicalty_ In the interim periods the Trustees exercise their iudgement to assess whether the valuatÈon remains accurate before making any adjtssiments as deemed necessary. Contingenl assets in relation to legacy income not yet re¢eived Le98cy income ss inherrenlly complex and takes a significant amount of lime from the point of notification lo the point funds are received by Ihe Charity. The Trustees exercise judgement based on their past experience wilh legacy receipts lo determine when il is likety the income will be received and how much will be Teceived. Pa9e 24
OAK TREE ANIMALS. CHARITY IA company lEmit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacies Unrestricièd Re5Er4¢ted funds funds 2023 2023 Total funds 2023 Grants Grants for general purposes Granls for Equine projects Grants for Animal projects Grants lor Community & Educational projects 36.622 15.298 51.920 6,750 11,246 fj,7S0 11,246 36.622 33.294 69.916 Oonabons Legacies 261.736 676.043 261.736 676,043 Subtotal 937.779 937,779 974.401 33,294 1.007.695 Page 25
OAK TREE AN5MALS' CHARITY IA company lifftiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacies Icontinuedl Uns1cled funds 2022 Reslsicled lunds 2022 Total funds 2022 Grants Grants for general purposes Grant5 for Animal projects Grant5 for Cornmunity & Educational projects COVID-19 related grants 53.352 21.991 75.343 1.000 21.000 3.470 21.000 3.470 53.352 47.467 100.813 Donatsons Legacies 186.314 795.632 186.314 1,045,632 250.000 Subtolal 981.946 250.000 1.231.946 1.035.298 297.461 1.332. 759 Pa9e 26
OAK TREE ANIMALS. CHARITY IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incomè from other trading activities Income from fundraisin9 evenls Unrèstricted funds 2023 Total funds 2023 Fundraising events. spon50rship and lotlery inccrfne 6.870 6,870 Un$111ed funds 2022 Tolal lunds 2022 Fundraising events. sponsorshTrp and tottery income 8. 100 8. 100 Income from non charbtable trading activities Unrestricted fundg 2023 Total fvnds 2023 Trading income in OTAC Trading Ltd 1.372,932 1,372.932 Trading income sn 2022 in OTAC Trailing Ltd amounied to £972.655 of unrestricted fundg. Page 27
OAK TREE ANIMALS. CHARITY IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Investment income Unrèsiricted funds 2023 Total funds 2023 Investmenl income - diwdends Investment income- bank interest 6.336 1.533 6.336 1.533 7.869 7,B69 Un$tterf lunds 2Q22 Tolal lunds 2022 Investment inCce - diwdends 7. 780 7. 180 613 Investment income- bank interest 613 7. 793 7.793 Page 28
OAK TREE ANIMALS, CHARITY {A company limited by guarantee) NOTES TO THE FINANCIAL STATEIIIENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on raising funds Costs of raising voluntary income Unrestricted lunds 2023 Total fund5 2023 Evenl expenses 25,066 25.066 UnS(lICIed funds 2022 Tolal funds 2022 Event expenses 7.051 7,051 Volunteers play a fvll part in the life of Oak Tree. supporting animal care. administralion, governance and facilities functions.. manning events. organising collections and undertaking a wide variety of fundraising actlV4ties. In 2023 our volunteers gave over 52.000 houls of time equating to an incredible £541.840 of support based on minimum wage12022- over 36.696 houfs equating to over £346.969 01 support). Fundraising trading expenses Unrestricted funds 2023 Total funds 2023 Dtrect costs in OTAC Trading Lld Administration expenses in OTAC Trading Lld Depreciation in OTAC Trading Ltd 308.375 308,375 2B4.036 14,131 284.036 14.131 606.542 606,542 Page 29
OAK TREE ANIMALS. CHARITY IA company limited by guaranleel NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on raising funds Icontinvedl Fundraising trading expenses ICDntinvedl Un51cted lunds 2022 Total lunds 2022 Direct C05tS IF) OTAC Trading Ltd Administration expenses in OTAC Trading Ltd Dèprecialton in OTAC Trading Lld 425.257 47.671 9.300 425.257 47.671 9.300 482.228 482.228 Analysis of expenditure on charitable activities Summary by lund type Unrestricted Restricted funds funds 2023 2023 Total 2023 Charitable acliwties 1,592.104 274.057 1.806,161 UnSIn¢ted funds 2022 Restricted funds 2022 Tolal 2022 Charilable adivities 1 437.378 43.813 1.481. 191 Page 30
OAK TREE ANIMALS. CHARITY IA company limited by guarantèè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of èxpènditurè by activttiès Activities undertaken directty 2023 Support costs 2023 Tolal funds 2023 Chaniable activilies 1.421.600 384.561 1,806,161 AclivAlies undertaken d1CtlY 2022 Support COSts 2022 Tolal Ivnds 2022 Charitable actiwlies 1. 187.917 293.274 1.481. 191 Analysis ol support Costs Total funds 2023 Activities 2023 Staff costs Depreciatson Office costs Volunteer cost5 Computer costs Bank charges Audit and ac¢ountancy lees Rates and premt5es costs Payroll bureau charges Equipment hire Bank loan intefest Sundry expenses 8ad debls recovered and cash uodeflove¢s Staff Iraining Legal and professional lees Repair5 and ma5ntenance 34.537 63.923 14.257 11.499 18.727 8.141 21.414 99.805 1.765 9.154 648 12.188 1,566 2.212 41.894 42,831 34,537 63.923 14,2S7 11.499 18.727 .141 21.414 99.805 1,765 9,1S4 648 12.188 1,566 2,212 41,894 42.831 384,561 384,S61 Page 31
OAK TREE ANIMALS. CHARITY IA company IFrnlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activitiÈs Icontit)uedl Analysis of support Costs Icontinuedl Total Tunds 22 ACtivitS 2022 Staff costs Deprecialion Office costs Volunteer costs Cornputer costs Bank charge$ 41.057 30. 193 13.575 9. 198 13.505 5. 749 41.057 30, 192 13.575 9, 198 13.505 5. 749 L li Audit and accountancy fees Rale5 and premises costs Payroll bureau chaffjes Equipment hi Bank loan interest 15.047 15.047 63.548 1.665 9.352 648 63.548 1.665 9.352 648 Sundry expenses Bad debts recovered and cash underloverfs Staff training Legal and p¥ofessErnal fees Repairs and matntenance 4.231 1.516 2.722 28.118 53. 751 4.231 1.516 2. 722 28.718 53. 151 293.274 293.274 10. Auditofs. remuneration 2023 2022 Fees payable to the Charitys auditor for the audil of the Charty's annual accounts 14,780 13,285 Fees payable t() the Charitws audito¥ ir7 respect of. All non-3udrt senfices not Included above 3,520 3.520 Page 32
OAK TREE ANIMALS. CHARITY (A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 11. Staff costs Group 2023 Group 2022 Charity 2023 Charity 2022 Wages and salaries Social security cosis Contribulion to defined contribul¢on pension schemes 1.201.564 78.844 1.042.363 39. 749 1.201,564 78.844 1.042.363 39.749 18.870 9.914 18.870 9.914 1.299.278 1.092.026 1,299.278 1.092,026 The average number of persons employed by the Charity during the year was as follows.. Group 2023 No. Group 2022 No. Charity 2023 No. Charily 2022 No. Facilrties and office Veterinary and animal welfare Community Shop and tea r£4Jm Fundraising 11 14 io 14 11 10 14 24 24 68 57 68 57 No employee received remuneration amounling to more than £60.000 in ether year. Wages paid lo 5 key management personnel lotslled £167.00312022- 6 employee5. £181.7341. 12. Trustees. remuneration and expenses During the year. no Trustees received any femuneration or other benefits (2022- £NIL). Dunng the year ended 31 December 2023. expenses totalling £NIL were reimbursed or paid directly to Trustees12022 - £190). Page 33
OAK TREE ANIMALS. CHARITY IA company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 13. Tangible fixed assets (Gontinuedl Charity Freehold PrOrtY Plant and machinery Motor FiXtuS and vehicles fitting5 Total Cost or valuation At 1 January 2023 Additions 1.126.807 28.004 11.333 76.299 16.095 123.134 37.495 1.354,244 64,923 350.000 Transfeis betwèèn classes 350.000 At 31 December 2023 1.476.807 39,337 92,394 160.629 1.769,167 Oepreciation At 1 January 2023 Charge for Ihe year 44,986 35,500 16.513 3.423 49.073 10.830 85.715 14.170 196,287 63,923 At 31 December 2023 80.486 19.936 S9.903 99.885 260.210 Net book value At 31 December 2023 1.396.321 19.401 32,491 60.744 1,508,957 At 31 December 2022 1.081.821 11.491 27,226 37.419 1, 157.957 Freehold property was rewalued in November 2019 by William Bashall Associate5 to a market value of £3.415m This included land of £465.0 which is not depreciated as well as Investment property ol £348.333 which has been reclassified. Addilions since Ihe valuation amount to £60.140. During the year a property changed use and was tiansferred out of investment property and into freehold propety al its market value as agreed by the Trustees. Page 35
OAK TREE ANIMALS. CHARITY IA company limited by guaranieel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Inveslment property Group Freehold invèstment property Valuation A¢ 1 JanLtary 2023 Surplus on revaluation Transfers befvoeen classes 408,333 75.000 1350,0001 At 31 December 2023 133.333 Charity Freehold investment propèrty Valuation Al 1 January 2023 Surplus on revaltjation Transfers belween classe5 408.333 75.000 13SO.0001 At 31 December 2023 133,333 Freehold property 15 induded at valuation of £348.333 plus land al estimated mathel value of £60.000. During the year a propety changed use and was transferred out of investment property and inlo freehold propety at its markel valLFe as agreed by the Trustees. The valuation was made by William Bashall Associates in November 2019 on an open mart(el value for existing use ba51s. It is the w'nion of the Twslees that this VuatiOn has not materially altered al the period end date. Page 36
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 15. Fixed asset investments Other fixed asset rnve5tsnents Group Cost or valuation At 1 Jafiuary 2023 Disposals Revaluatsons 311.204 136,2621 12.616 At 31 December 2023 287.558 Net book value At 31 December 2023 287,558 At 31 December 2022 311.204 Other fixed asset inveslmen15 indudes £4.971 12022 - £23.1321 of cash balances tn thè investmènt portfolio. Investments in Other fixed subsidiary asset companies investsnents Total Charity Cost or valuation At 1 January 2023 Disposals Revaluations 311,204 136,2621 12,616 311.205 136,2621 12,616 At 31 December 2023 287.558 287.559 Net book value At 31 December 2023 287.5S8 287.559 Al 31 DeGember2022 311204 311.205 Page 37
OAK TREE ANIMALS, CHARITY IA company limited by gLEaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 16. Stocks Group 2023 Gw 2022 Charity 2023 Charily 2022 Consumable stocks 13.785 7.345 273 273 17. Debtors Group 2023 Group 2022 Charity 2023 Charily 2022 Due within one year Trad¢ debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 11,258 &512 5.135 60.405 302.803 12.157 325,420 23,356 920.086 40.590 920,087 32,586 360,034 966, 188 380,500 952. 673 18. Creditors= Amounts falling due within one year Group 2023 Charity 2023 Chèrity 2022 2022 Bank loans Trade creditors Amounts owed to group undertakings Other taxalion and socaal security Other creditors Accruals and deferred income 10.077 87.804 9.225 54.672 10,077 63.352 9.225 29.398 12.312 20, 762 3, 739 42, 722 22.582 3.974 98.803 9,229 3. 739 87.897 22.582 3.974 42.063 223.240 164. T62 142,048 178. 158 Page 39
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 19. Creditors= Amounts falling due after rn0 than one year Group 2023 Gmup Z022 Charity 2023 Charity 2022 Bank ban5 16.590 27.442 16.590 27,442 Induded v*thin the above a amounts falling due as follows.. Group 2023 Group 2022 Charity 2023 Chanly 2022 Between one and two years Bank bans 10,332 10,077 10.332 10.077 Between hvo and five years 8ank loans 6,258 17.365 6.258 17.365 Over five years The bank loan is a government backed 8ounGebad¢ Loan which is unsecured and repayable over a period lolalling 72 months. the first 12 months of iyhich are intefest 3nd payment free. The final 60 months of the loan attracts interesl at a fixed rate of 2.5q/.. 20. Financial instruments Group 2023 Group 2022 Charity 2023 Charily 2022 Financial assets Measured al market value- Investment portfolio Measured at amortised cost- Cash at bank and in hand Amovnts owed by gfoLrp undertskings 287.558 37 1.204 287.SS8 311.204 679.788 49.545 S92.278 60.405 24. 749 967.346 360. 749 940.241 335.353 Group 2023 Group 2022 Charity 2023 Charity 2022 Financial liabtlities Bank loans Tfade £redrtors Amounts owed to group undertakings 126.6671 187,8041 (36.667J (54.672) 126,6671 163,3521 (36.6671 (29.3981 (12.3121 1114.4711 (91.339) 190,0191 (78.3771 Page 40
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 21. Ststement offunds Statement of funds- current year Balance at 31 Gainsl December (Losses) 2023 Balance at 1 January 2023 Transfers inlout Income Expenditure unstrICted funds Geneial funds 2,436,295 2,362.072 12.223.712) 19.986 B7.744 2.682,38S Restricled funds Animal welfare Community projects and education 6.750 16,7501 11,246 {11.2461 Woodland malntenance 21.686 19,751 11,7001 14211 113.9561 {179.9841 119.9861 Tea room 19.330 1.342 70.016 Fencing Cats welfafe 15,298 250,000 291,437 33,294 1214.0571 (19,9861 90,688 Total of funds 2.727.732 2.395,366 12,437.7691 87,744 2,773,073 Page41
OAK TREE ANIMALS. CHARITY IA company limited by 9uèranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 21. Staternent of funds Icontinuedl The Animal WeKare fund represents funds for the irnprovements of dogs, cats and glher small animal welfare and facilEties on site. The Community Projects and Education fund represents fvnds for relevanl staff costs. veterinary ¢05ts. p*Jrchase and maintenance of technical equipment and transport costs_ The Woodland Maintenance fund represents funds receNed for the purchase of fixtures and equipment fw ihe woodland area. The Tea Room fund represents fvnds recwved for improvements to the lea room. The fencing fund represents lsjnds CeNed for the creation, maintenance and repair of our equine fencing. The Cals wewafe fund represents legacy incorne received vknrh is specrfically lo be spent on cats welfare. Thank you to all those who supported our sm811 animal weFlare veterinary bills throughoul 2033. We allY appreciate those granl lun<Jers who chose lo support our community projects and education prograrnmes in 2023 through the funding for our Hefping Paw projed. the creation of education resources. supporting communty neutering, vetennary costs and our Trap Neuter Return programmes. thank you. Page 42
OAK TREE ANIMALS. CHARITY (A company limrted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 21. Statement of funds Icontinued} Slatemènt of funds - prior year Balance al 31 Decembe 2022 Balance at l Januèry 2022 Transf3 in/oul Income Expenditu {Losses) Unrestricted funds General funds 2.382. 707 2.023.845 (1.926.657) 26.075 (69.676) 2,436.295 Restricted funds Equine weNare Animal weware 117.CW) {22.087) 1.087 21.&JO Cornmunity Pfojects and education Woodland malteanCe Tea room Fencing Cats welfare 548 3.470 (4.0181 21.991 (3051 (4031 21.686 20. 154 26.075 19.751 (26.075J 2.c 250.000 63.864 297.461 (43.873) (26.075) 291.437 Total of funds 2.446.571 2.321.307 (1.970.470) {69.6761 2. 727. 732 Page43
OAK TREE ANIMALS. CHARITY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 22. Summary of funds Summary of funds- curr¢nt year Balance at 31 Gainsl December (Lossesl 2023 Balance at 1 Janvary 2023 Transfers inlout Income Expenditure General ndS Restricted funds 2,436,29S 291,437 2,362.072 12,223.7121 33.294 1214,0571 19,986 119,9861 87,744 2,682,38S 90,688 2,727.732 2.395,366 12,437.7691 87,744 2,773,073 Summary of funds- prfor year Balance al 31 December 3022 Balance al l January 2022 Transfers in/oul Gain (Lossesl Income Expenditure General funds RestCted funds 2.382. 707 63.864 2.tr23.846 (1.926.657) 297.461 (43.813) 26.075 (26.075J (69.676) 2.436.295 291.437 2.446.571 2.321.307 (1.970.470) 169.676) 2. 727.732 23. Analysis of net assets beeen tunds Analysis of net assets between fvnd5 - current year Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Creditors due in more than one year 1.538.405 287 558 133.333 962.919 223.2401 116.5901 1,538,40S 287,558 133,333 1,053.607 1223,2401 116.5901 90.688 Total 2.682.385 90.688 2,773.073 Page 44
OAK TREE ANIPJIALS. CHARITY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 23. Analysis of nel assets beh¥een funds Icontinuedl Analysls of net assets beeen funds- prior year un$111C1ed fvnds 2022 ResliFcled Tolal ltsnds 2022 2022 Tangible fixed a55ets Fixed asset investments Investment property Current assets clI0rS due wthin one year clIOrS due in mofe Ihan one year 1, 135.884 311.204 408.333 773.078 (164. 762J (27.442J 41.437 1, 177.321 311.204 408.333 1.023.078 (164. 162J 127.442J 250.GQO Total 2.436.295 291.437 2. 727, 732 24. Reconciliation of net movement in funds to net cash flow from operating activities Group 2023 Group 2022 Nel inGornelexpenditure for the year las per Statement of Frnancial Activitie51 129,6591 281. 761 Adjustments for= Depreciation charge5 Interest received Losse51lgainsl on investments Dividends. interesl5 and rents from investments Decreasellincreasel in StkS Decreasellincreasel in debtors Increase in credilofs Interest paid 78.053 11,5331 112,6161 16.3361 16.4401 606.154 57.626 39.492 {613) 69.676 299 (737.070) 54,326 Net cash provided byllLtsed opernting activities 685,897 292. 7291 Page 45
OAK TREE ANIMALS. CHARSTY IA cornpany limited by gvaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 25. An3lysi5 Of Gash and Gash equivalents Group 2023 Group 2022 Cash in hand Nolice deposits (less than 3 months) 100 679.688 975 48.570 Total cash and cash equivalents 679,788 49.545 Analysis of changes in net debt At1 January 2023 Cash flows Other non- At31 cash December hanges 2023 Cash al bank and in hand 49.545 19.2251 127.4421 630.243 10.(0 679.788 110,0771 116,5901 Debt due urithin 1 year Debt due after 1 year 110,8521 10,852 12,878 640.243 653.121 27. ContÉngent assèts The Charity receives income from legacies. of which Ihey recogni5e in the finantial 51atements once the amounl can be reasonabty detemiined following probate and the final estale value is known. At the balance sheet date. thè Trustees have estimated thai approximately £544.958 of legacy inctsme will be due to Ihe Charity. hoviever as the amount5 are still relatively uncertaln. only £295.146 ha5 been recognised as accrued Income as this amount has been received between the year end dale and the date of signing. th the balance of this income being *Jisclosed here as a contingenl asset. Page46
OAK TREE ANIMALS. CHARITY IA wmpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 Pènsion commitments The group operates a defined contribution pensiw 5theme. The assets of Ihe scheme are held separately from those of Ihe group In an indepen¢Jently administered fund. The pension cost ¢harge represents contributions payable by the group to the lund. Amounts totling £1.761 12022 £3.7391 were payable to the fund ai the balance Sheet date and are included in ueditors. 29. Operating lease commitments At 31 December 2023 Ihe Group and the Charity had commitrnents to make luiure minimum lease payments under non<ancellable operating leases as follows= Group 2023 Gmup 2022 Charity 2023 Charily 2022 Not later than 1 year Later than 1 year and not later than 5 years 110,227 181.032 91,169 249,335 5.649 S.040 5,649 70,689 291.259 340,504 10,689 16.338 At 31 December 2023 the Group and Charity has fuiuce minimum lease receipts due as a lessor lor each of the following periods.. Group 2023 Group 2022 Not later than 1 yeaf Later than 1 year and not later than 5 years 7.025 30. Related party transactions The charitable company has taken advantage of the exemptions available undei section 33 of FRS 102 which dispenses wilh the need to disc105e related party transactnS with wholly owned 5vb51diarie5 within the group. There are no Iransactions with related parties outside of the gfovp. Trustee femuneration and expenses have been disclosed in note 12. 31. Controlling party The Charity is under the control of the Trustees. Page47