The Rose Animal Welfare Trust CIO Registered Charity Number 1169516 Trustees, Annual Report and Financial Statements For the Year Ended 31 October 2024
The Rose Animal Welfare Trust CIO Contents Page Charity Informats"on Report of the Trustees Trustee's Responsibilities Independent Examiner's Report statement of Financial Activities Balance Sheet Statement of Cashflows Notes to the Financial Statements 9-16
The Rose Animal Welfare Trust CIO Charity Information Trustees Mrs Antoinette Tomkinson Mr David John Tomkinson Ms Elizabeth Ellen Webb Mrs Diane Woodhouse (Chair) Registered Charity Number 1169516 Registered Office The Ranch Catton Lane Pocklington York Y042 1TN Independent Examiner Nicola Taylor Brown Butler Leigh House 28-32 St Paul's Street Leeds LS12JT Bankers Virgin Money 46 Coney Street York Y019NQ Solicitors Emsleys Solicitors Limited Viscount Court Leeds Road Rothwell Leeds LS26 OGR Investment Managers Brewin Dolphin 10 Vvellington Place Leeds LS14AN Evelyn Partners 3 Wellington Place Leeds LS14AP
The Rose Animal Welfare Trust CIO Report of the Trustees for the year ended 31 October 2024 The Trustees present their annual report together with the financial ststements of the charity for the year ended 31 October 2024. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102)° (effective 1 January 2019). Structure, Governance and Management The Rose Animal INelfare Trust CIO (the "Charity.) was registered as a charity on the 6 October 2016, number 1169516. the Constitution dated 6 October 2016 forms its governing document. Reference and Administrative Details The reference and administrative details are shown within the charity information page which ft)rms part of this Trustees Report. Trustees The Trustees who served during the year and up to the date of signature of the financial statements were.. Mrs Antoinette Tomkinson Mr David John Tomkinson Ms Elizabeth Ellen Webb Mrs Diane Woodhouse New Trustees may be appointed at properly convened Trustee's meeting by a resolution of the Trustees and recorded in the minutes. The minutes would be signed by the new Trustees to provide evidence of appointment. Risk management The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate the exposure to major risks. Public benefit The Trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit. Objectives and Activities The primary objectives are promotion of humane behaviour towards and to relieve the suffering of domestic and wild animals. In planning the activities for the year, the Trustees have kept in mind the Charity Commission's guidance on public benefit at the Trustee meetings. The Constitution obliges the Trustees to apply the Charity income to such charities and for such charitable purposes and in such proportions and in such manner and subject to such terms and conditions as they may determine.
The Rose Animal Welfare Trust CIO Report of the Trustees for the year ended 31 October 2024 The Trustees respond to numerous written requests for donations from a wide range of charities and the donations made are set out in the Schedule of Donations in note 10 of the financial statements. The Trustees regularly discuss the policy of donations. The Trustees believe that the donations fulfil the charity's public benefit requirement. Achievements and Perfomiance During the year the charity benefited from further generous donations and gifts in kind amounting to £603.100 (2023: £554,526). The Charity's principal source of funding on an ongoing basis is from the return on its investments. The key objectives of the Charity have been supported in the year to 31 October 2024 as 98% (2023: 97°/0) of the Charity's expenditure related to charitable donations. The Trustees awarded charitable grants totalling £635,000 (2023: £587,000). A list of grants can be ft)und in note 10 to the financial statements. Financial Revlew The Charity's investments are shown in the Balance Sheet at the market value, at the balance sheet date as all investments are listed on quoted markets. the market valuation is freely available. During the year total income amounted to £642,757 (2023: £601,975). Expenditure forthe yeartotalled £650,920 (2023: £605,232), making net loss for the year of £8,163 (2023: £3,257). At the balance sheet date, the charity had total funds of £2,464,014 (2023: £2.130,209). Uncommitted reserves freely available for charitable acttvities were £48,780 (2023.. £65,267). Reserves Pollcy It is the policy of the charity to maintain investments at such a level to generate sufficient cash funds annually to allow it to meet its charitable objectives in the coming year. These cash funds must also be sufficient to cover the expected annual administrative and governance costs of the charity excluding investment management fees. At 31 October 2024 this requirement was approximately £4,000. Investment Powers and Policy Under the constitution. the charity has the power to make any investment which the Trustees See fit. The Trustees have not adopted an ethical investment policy. The Trustees review their investment policy at regular inteNals. Plans for Future Periods The charity plans to continue the activities outlined above in the forthcoming years, subject to satisfactory returns on investments. This report was approved by the Board of Trustees on 2025 and signed on its behalf by: Mrs Antoinette Tomkinson Chair of Trustees o. rwAwq61
The Rose Animal Welfare Trust CIO Statement of Trustees, Accounting and Reporting Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently., Observe the methods and principals in the Charities SORP. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and Prepare the financial ststements on the group concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible forsafeguarding the assets ofthe charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Rose Anlmal Welfaro Trust CIO Independent Examiner's Report to the Trust•es of The Rose Anlmal Welfare Trust CIO I report to the trustees on my examination of the accounts of The Rose Animal Welfare Trust CIO for the year ended 31 October 2024. This report is made solely to the Charity's Trustees. as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the charity trustees of the Trust you are responsible ft)rthe preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 (°the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 yourexaminer must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Niwla Taylor FCA Brown Butler Chartered Accountants Leigh House 28-32 St Paul's Street Leeds LS12JT 2025
The Rose Animal Welfare Trust CIO statemont of Financial Activities for the year ended 31 October 2024 2024 2023 Notes Income from: Donations Investment income 603,100 39,657 554,526 47,449 Total Income 642,757 601,975 Expenditure on: Charitable activities 649,457 603,365 Total expenditure 649,457 603,365 Net (loss)Ilncome before tax and other recognised galns (6,700) (1,390) Tax on fees (1,463) (1,867) Other recognised gains Realised and unrealised gainsl(losses) on investments 341,968 (513.893) 333,805 (517,150) Net movement in funds for the year Reconciliation of funds: Fund balances brought forward 2,130,209 2,647,359 Funds carried forward 2,464,014 2,130,209 All income and expenditure in the Statement of Financial Activities was unrestricted in both the current and prior year. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 to 16 fomi part of these financial statements.
The Roso Anlmal Welfare Trust cio Balance Sheet as at 31 October 2024 2024 2023 Notes Flxed assets Investments 2,415,234 2,064,842 Current assets Cash at bank 52,035 68,467 Current liabllities Amounts falling due within one year (3,255) (3,100) Net current assets 48,780 65,267 Totsl assets less current liabilities 2,464,014 2,130,209 Net assets 2,464,014 2,130,209 Funds: Unrestricted funds 2,464,014 2,130,209 The financial statements were approved by the Trustees on 20 (* behalf by- 2025 and signed on their Mrs Antoinette Tomkinson Trustee orofv w?6- The notes on pages 9 to 16 form part of these financial ststements.
The Rose Animal Welfare Trust CIO Statement of Cash Flows for the year ended 31 October 2024 2024 2023 Notes Cash flows from operation activities Net cash provided by operating activities 11 (949,976) (40.790) Cash flows from invosting activities Proceeds from sale of investrnents Purchase of investments 1,446,830 (513,286) 143,182 (98,868) Net cash provldedllused in) by Investing actlvlties 933,544 44,314 Change in cash and cash equivalents in the year (16,432) 3,523 Cash and cash equivalents at the beginning of the year 68,467 64.943 Cash and cash equivalents at the end of the year 52,035 68,467
The Rose Anlmal Welfare Trust CIO Notes to tho Flnancial Statements for tho year ended 31 October 2024 Accounting pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 1.1 Charity infomiatlon The Rose Animal Welfare Trust CIO is a charity established by Constitution dated 6 October 2016, and registered with the Charity Commission under charity number 1169516. The charity's principal office address is The Ranch, Catton Lane, Pocklington, York. Y042 1 TN. 1.2 Accounting conventlon The financial statements have been prepared in accordance with applicable United Kingdom accounting standards including Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FR 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements are presented in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets. 1.3 Going concern The Trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the charity to continue in operational existence for the foreseeable future, and have adequate contingency plans in the event that income streams are reduced. Whilst the global economy has been significantly impacted by the rising costs of living, the charity Still has reserves sufficient to meet its immediate requirements. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Income Income is recognised in full in the Statement of Financial Activities ('SoFA°) in the year in which it is receivable. 1.5 Income from investments Dividend and interest income from investment funds is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of dividends and interest paid or payable by the Fund Manager. Interest income from cash deposits is recognised in the accounts gross, when receivable. 1.6 Expenditure Expenditure (excluding grants) is included in the SOFA on an accruals basis. Charitable activities include support expenditure associated with the administration and issuing of grants. 1.7 Grants Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity- Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant with condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity.
The Rose Animal Welfaro Trust CIO Notes to the Financial Statements for the year ended 31 October 2024 Accounting pollcles - contlnued 1 .8 Flxed asset investments Investments are a form of basic financial instrument. Listed investments are stated at market value at the balance sheet date. The listed investment portfolio is held to generate returns and gains for the charity and accordingly is designated as fair value through profit and loss ("FirrpL°). Under this designation the portfolio is revalued at each year end to its fair value, as detemiined by reference to quoted market prices and values determined by independent fund managers, with any gains or losses going through the SOFA. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments in accordance with section 11 of FRS 102. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value. The Charity does not acquire put options, derivatives or other complex financial instruments. 1.10Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital. 1.11 DebtorJ Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. Any impairment loss is recognised in the SOFA. 1,12 Creditors, loans and provisions Creditors, loans and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial liabilities are derecognised when, and only when, obligations are discharged, Canlled or they expire. Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. 1.13 Fund accounting All funds received in the year are unrestricted in their application, the Trustees having full discretion over their use. 10
The Rose Anlmal Welfaro Trust CIO Notes to tho Flnancial Statements for the year endod 31 Octobor 2024 Accounting policies - contlnued 1.14 Critical accounting estlmates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The ests'mates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period. or in the period of the revision and future periods if the revision affects both current and future periods. The Trustees have judged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. 1 .15 Taxatlon The Rose Animal Welfare Trust CIO is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. Income from donatlons 2024 2023 Gift of shares at valuation Gifts in kind 600,000 3,100 550.000 4,526 603,100 554,526 Income from investments 2024 2023 Dividends Interest 34,891 4,766 43,097 4,352 39,657 47,449 11
The Rose Anlmal Welfare Trust CIO Notes to the Financial Statements for the year ended 31 October 2024 Charitable activities expenditure 2024 2023 Notes Grants and donations Support costs 10 635,000 14,457 587,000 16,365 Total expenditure 649,457 603,365 Analysis of support costs Investment Management fees Independent examination fee Accountancy 11,202 1,680 1,575 13,265 1,600 1,500 Total support costs 14,457 16,365 Reconciliation of grants payable 2024 2023 Grants committed in the year Grants paid in the year 635,000 587,000 {635,000) (587,000) Commitments at 31 October To comply with Charities SORP (FRS 102) non-performance grants are reported in the SOFA on approval of application. In some cases payment may be spread over a period of time which gives rise to future commitments. There were no future commitments in respect o* grants at the year end. There were no staff employed by the charity during the year. The Trustees are unpaid and did not receive any remuneration, benefits or expenses from the charity in the year. 12
The Rose Anlmal Welfare Trust CIO Notes to the Financial Statements for the year ended 31 October 2024 Fixed asset investments 2024 2023 Listed Investments Market value as at l November 2023 2,046,536 2,2B7,968 Gift of shares at valuation Additions at cost Disposals Realised and unrealised gainsl(losses) on investments 600,000 550,000 513,286 98,868 (1,175,219) (376,407) 341,968 (513,893) Market value as at 31 October 2024 2,326,567 2,046,536 Historical cost at 31 October 2024 2,381,576 2,150,111 2024 2023 Investments are represented by: UK and Overseas Bonds UK and Overseas Equities Global investments Absolute return Private equity Equity 162,860 1,698,394 133,629 1,728,781 42,703 107,859 33,564 96,609 372,251 2,326,567 2,046,536 Capital account- cash 88,663 18,306 Value as at 31 October 2024 2,415,234 2,064,842 In July 2024. Rose Animal Trust divested its investments from Brewin Dolphin and redirected them through Evelyn Partners. As a result, the investment portft)lio shows a significant variance from the previous year, reflecting the shift in the portfolio from Brewin Dolphin to Evelyn Partners. Credltors: amounts falling due withln one year 2024 2023 Accruals 3,255 3,100 13
The Rose Animal Welfare Trust CIO Notes to the Financial Statements for the year ended 31 October 2024 Funds Realised and unrealised gains on investments Asat 1 November 2023 Expenditure inc. tax on fees Asat 31 October 2024 Income Unrestricted funds General 2,130,209 642,757 (650,920) 341,968 2,464,014 Total 2,130,209 642,757 (650,9201 341,968 2,464,014 Realised and unrealised gains on investments Asat 1 November 2022 Expenditure inc. tax on fees Asat 31 October 2023 Income Unrestricted fund8 General 2,647,359 601.975 {605,232) (513,893) 2.130,209 Total 2,647,359 601,975 (605,232) (513,893) 2,130,209 Analysis of net assets between funds 2024 2023 As at 31 Octobor 2024 Fixed assets investments Current assets Current liabilities 2,415,234 52,035 (3,255) 2,064,842 68,467 (3,100) 2,464,014 2,130,209 Related party transactions During the year, £600,000 (2023: £550,000) of shares were gifted at nil cost to The Rose Animal Welfare Trust Investment Portfolio by Antoinette Tomkinson, a trustee of the charity. 14
The Rose Animal Welfare Trust CIO Notes to the Financial Statements for the year onded 31 October 2024 10. Grant expendlture Committed and paid Committed and paid 2024 2023 Organisatlon Animal Asia Foundation Angels Animal Rescue Cumbria Blue Cross for Pets Brooke Brent Lodge Bird Wildlife Trust Cats and Dogs Bath Cats Protection Compassion in World Farming Cuan Wildfi're Rescue Cotswolds Dogs & Cats Home Cruelty Free international Daybreaks Trust Dogs Trust Dogs 4 Rescue Donkey Sanctuary Farplace Animal Rescue Filey Cat Rescue Freedom of the Spirit Trust for Border Collies Freshfields Animal Rescue FRAME Good Life Dog Rescue Grey Hound Trust Happy Horse Rescue Happy Paws Puppy Rescue Hope Rescue Centre Hull Animal Welfare Trust HAPPA Horse Sense Wirral Jerry Green Dog Rescue Mare and Foal Newcastle Dog + Cat Shelter NeOrk for animal Oak Tree Farm Oak Rescue Other PDSA PETA Prickly Edge Hedgehog Rescue 20,000 5,000 10,000 20,000 10,000 2,000 20,000 10,000 5,000 10,000 15,000 10,000 20,000 10,000 12,000 10,000 10,000 20,000 3,000 10,000 5,000 20,000 20,000 15,000 5,000 2,000 14,000 10,000 15,000 10,000 5,000 20,000 10,000 10,000 10,000 5,000 20,000 20,000 10,000 20,000 15,000 20,000 5,000 20,000 20,000 10,000 15,000 10,000 5,000 20,000 10,000 10,000 15,000 10,000 10,000 20,000 10,000 20,000 10,000 5,000 20,000 10,000 20,000 10,000 15
The Rose Anlmal Welfare Trust CIO Notes to the Financial Statements for the year ended 31 October 2024 10. Grant expenditure Committed and paid Committed and paid 2024 2023 Organlsation Rain Rescue Redwings Horse Sanctuary RSPCA York, Harrogate & District Remus Horse Sanctuary RVC Animal Care Trust Ryedale Dog Rescue Secret World Wildlife Rescue Safe Heaven for Donkeys Stsdkan Church Rescue Stockenchurch Dog Rescue Staffordshire Bull Terrier Rescue Teckels Animal Sanctuary The Cat Welfare Group The Horse Trust The Isle of Wight Donkey Sanctuary The Moorland Mousie Trust Thornberry Animal Sanctuary The Flicka Foundation Donkey Sanctuary Warwickshire Hedgehog Rescue Wetheriggs Animal Rescue Wood Green Animal Shelter World Horse Welfare 20,000 20,000 20,000 20,000 7,000 10,000 20,000 5,000 20,000 10.000 10,000 5,000 10,000 20,000 20,000 10,000 5,000 20,000 10,000 10,000 20,000 20,000 20,000 10,000 8,000 10,000 10,000 2,000 10,000 5,000 15,000 2,000 10,000 10,000 635,000 587,000 11. Reconciliation of net movements in funds to net cash flow from operating activitles 2024 2023 As at 31 October 2024 Net (expenditure)lincome Increasel(decrease) in creditors (Gain)Iloss on investment Gift of shares at valuation (8,163) {3,257) 155 {1,425) (341,968) 513,893 (600,000) (550,000) Cash (outflow)linflow from operating activities (949,976) (40,790) The charity had no net debt in either this or the previous financial year. During the year £600,000 (2023.. £550,000) of shares were gifted at nil cost and fees totalling £3,10012023'. £4,526) were paid for by Antoinette Tomkinson, a trustee of the charity. These constitute major non cash transactions during the year.