CHARITY REGISTRATION NUMBER: 1170239
Silver Fox Dog Rescue Unaudited Financial Statements
31 December 2021
BOOTH ASSOCIATES LTD
Accountants 140 Lee Lane Horwich Bolton BL6 7AF
Silver Fox Dog Rescue
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Statement of financial activities | 3 |
| Statement of financial position | 4 |
| Statement of cash flows | 5 |
| Notes to the financial statements | 6 |
Silver Fox Dog Rescue
Trustees' Annual Report
Year ended 31 December 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name Silver Fox Dog Rescue Charity registration number 1170239 Principal office 285 Hindley Road Westhoughton BOLTON
The trustees
Mrs M Rigby (Appointed 17 November 2016) Lady M Eden (Appointed 17 November 2016) Mrs C Underwood (Appointed 1 January 2017) Accountants Booth Associates Ltd Accountants 140 Lee Lane Horwich Bolton BL6 7AF
Structure, governance and management
Silver Fox Dog Rescue is registered with the Charity Commission.
Objectives and activities
The primary object of the Charity is to relieve the suffering of dogs in need of care throughout England, Scotland, Wales, Romania and China.
All animals received are neutered, micro-chipped, vaccinated and given any other medical assistance necessary.
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Silver Fox Dog Rescue
Trustees' Annual Report (continued)
Year ended 31 December 2021
Achievements and performance
In 2021 Silver Fox Dog Rescue (SFDR) rescued 253 dogs from owner surrenders and other small rescues who asked for help.
The dogs came mainly from the UK. Most come with no previous veterinary care and therefore of the 253 dogs, the majority of which were not neutered. The vast majority also needed immediate dental work and some more complex surgery, including luxating patella, cruciate ligament etc.
With the help of our experienced foster homes, volunteers and carers, we are able to help them prepare for their new lives.
In keeping with the Charities' Aims of making a contribution to the community. Wherever possible we have provided assistance, on a number of occasions, to distressed owners who feel they have no other option than to surrender their much-loved companions. Owners often contact us wanting to surrender their dogs due to behavioural problems they feel unable to cope with. We can offer as an alternative, training tips and support the owner, to enable the dog to stay in their home environment, as often the owner is reaching out for help as opposed to surrendering their dog. Surrender of their beloved companion is their last option. This is normally because of housing, financial, partnership, age difficulties or bereavement and no family member is able to assist and rehome the dog. It is great comfort for them to know their dog is in safe hands.
Financial review
The reserves of the company as at 31 December amounted to £41,086.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mrs M Rigby Trustee
Lady M Eden Trustee
Mrs C Underwood Trustee
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Silver Fox Dog Rescue
Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | – | 266,140 | 184,154 |
| Investment income | 5 | – | 6 | 33 |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | – | 266,146 | 184,187 | |
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 6 | – | 275,515 | 151,307 |
| Other expenditure | 7 | – | 530 | 595 |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | – | 276,045 | 151,902 | |
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net (expenditure)/income and net movement in funds | – | (9,899) | 32,285 | |
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 70,283 | 70,283 | 37,998 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 70,283 | 70,283 | 37,998 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
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Silver Fox Dog Rescue
Statement of Financial Position
31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 11 | 6,021 | 1,804 |
| Cash at bank and in hand | 55,063 | 69,643 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 61,084 | 71,447 | ||
| Creditors: amounts falling due within one year | 12 | 700 | 1,164 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net current assets | 60,384 | 70,283 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 60,384 | 70,283 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net assets | 60,384 | 70,283 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Unrestricted funds | 70,283 | 37,998 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 13 | 70,283 ৶৶৶৶৶৶৶৶ |
37,998 ৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mrs M Rigby Trustee
Lady M Eden Trustee
Mrs C Underwood Trustee
The notes on pages 6 to 10 form part of these financial statements.
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Silver Fox Dog Rescue
Statement of Cash Flows
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (9,899) | 32,285 |
| Adjustments for: | ||
| Other interest receivable and similar income | (6) | (33) |
| Changes in: | ||
| Trade and other debtors | (4,217) | 528 |
| Trade and other creditors | (464) | (52) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Cash generated from operations | (14,586) | 32,728 |
| Interest received | 6 | 33 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net cash (used in)/from operating activities | (14,580) | 32,761 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Net (decrease)/increase in cash and cash equivalents | (14,580) | 32,761 |
| Cash and cash equivalents at beginning of year | 69,643 | 36,882 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Cash and cash equivalents at end of year | 55,063 ৶৶৶৶৶৶৶৶ |
69,643 ৶৶৶৶৶৶৶৶ |
The notes on pages 6 to 10 form part of these financial statements.
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Silver Fox Dog Rescue
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 285 Hindley Road, Greater Manchester, BL5 2DY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Silver Fox Dog Rescue
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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Silver Fox Dog Rescue
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Silver Fox Dog Rescue
Notes to the Financial Statements (continued)
Year ended 31 December 2021
4. Donations and legacies
| Total Funds | Total Funds | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Donations | |||
| Donations | 184,195 | 108,470 | |
| Adoption Fees | 69,230 | 63,243 | |
| Sundry Sales | 548 | 1,066 | |
| Gift Aid/Paypal Giving | 12,167 | 11,375 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 266,140 | 184,154 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 5. | Investment income | ||
| Total Funds | Total Funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Bank interest receivable type 1 | 6 | 33 | |
| ৶৶৶৶ | ৶৶৶৶ | ||
| 6. | Costs of raising donations and legacies | ||
| Total Funds | Total Funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Costs of raising donations and legacies - Donations | 250,499 | 125,484 | |
| Costs of raising donations and legacies - Other type 1 | 25,016 | 25,823 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 275,515 | 151,307 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 7. | Other expenditure | ||
| Total Funds | Total Funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Bank and Paypal Charges | 530 | 595 | |
| ৶৶৶৶ | ৶৶৶৶ | ||
| 8. | Net (expenditure)/income | ||
| Net (expenditure)/income is stated after charging/(crediting): | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Operating lease rentals | – | 286 | |
| ৶৶৶৶ | ৶৶৶৶ | ||
| 9. | Staff costs | ||
| The total staff costs and employee benefits for the reporting period | are analysed as | follows: | |
| 2021 | 2020 | ||
| £ | £ | ||
| Wages and salaries | 26,262 | 27,683 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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Silver Fox Dog Rescue
Notes to the Financial Statements (continued)
Year ended 31 December 2021
9. Staff costs (continued)
The average head count of employees during the year was 2 (2020: 1).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
10. Trustee remuneration and expenses
11. Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Other debtors | 6,021 | 1,804 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 12. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Accruals and deferred income | 700 | 700 | |
| Social security and other taxes | – | 464 | |
| ৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 700 | 1,164 | ||
| ৶৶৶৶ | ৶৶৶৶৶৶৶ |
13. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | ||
|---|---|---|
| At | ||
| 1 January 20 | ||
| 21 and | ||
| 31 December | ||
| 2021 | ||
| £ | ||
| General funds | 70,283 | |
| ৶৶৶৶৶৶৶৶ | ||
| At | ||
| 1 | January 202 | |
| 0 and | ||
| 31 December | ||
| 2020 | ||
| £ | ||
| General funds | 37,998 | |
| ৶৶৶৶৶৶৶৶ |
| 14. | Analysis of changes in net debt | |||
|---|---|---|---|---|
| At | ||||
| At 1 Jan 2021 | Cash flows | 31 Dec 2021 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 69,643 ৶৶৶৶৶৶৶৶ |
(14,580) ৶৶৶৶৶৶৶৶ |
55,063 ৶৶৶৶৶৶৶৶ |
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