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← Pennine Pen Animal Rescue CIO

2024-03-31-accounts

Charity Registration Number: 1170490

PENNINE PEN ANIMAL RESCUE A Charitable Incorporated Organisation (CIO)

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

For The Year Ended 31[st] March 2024

PENNINE PEN ANIMAL RESCUE

Contents

Page
Members of the Board and professional advisers 2
Trustees Annual Report 3 to 4
Independent Examination 5
Statement of Financial Activities (incorporating the income 6
and expenditure account)
Balance Sheet 7
Notes to the Financial Statements 8 to 13

PENNINE PEN ANIMAL RESCUE

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISORS

Registered Charity Name Pennine Pen Animal Rescue
Charity Number 1170490
Registered Office Honeywell Lane
Oldham
OL8 2JP
Trustees Laurence Day
Dena Dessoky
Joanne Loake (nee Hopkinson)
Sarah Victoria Mitchell (appointed 02/02/2024)
Andrea Whitmore (resigned 16/01/2024)
Accountants Community Accounting Lancashire C.I.C.
Foxfields
9 Norley Close
Chadderton
Oldham
OL1 2RA
Bankers NatWest Bank
10 Yorkshire Street
Oldham
OL1 1QT
Co-Operative Bank
Business Direct
PO Box 250
Skelmersdale
WN8 6WT

PENNINE PEN ANIMAL RESCUE

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and the unaudited financial statements of the charity for the period ended 31st March 2024.

Structure, Governance and Management

Pennine Pen Animal Rescue CIO (registered charity number 1170490) is governed by a constitution and was registered as a CIO (Charitable Incorporated Organisation) on 30 November 2016. The principal address for the Charity is – Honeywell Lane, Oldham, OL8 2JP.

The Charity operates an animal rescue centre at Honeywell Lane, Oldham; and also operates a number of charity shops in the Oldham area. To facilitate this operation there is both paid staff and volunteers.

Trustees in this period were:

The Trustees meet on a regular basis to discuss all aspects of the charity to include financial planning and control; staffing levels; veterinary issues; rehoming policies; maintenance and repairs; and also any health and safety matters. The Trustees will seek expert financial; legal; compliance; and employment advice when necessary.

Trustees Selection

Trustees are recruited on the basis of their individual skills and expertise appertaining to the needs and requirements of the Charity. The trustees are elected by members at the Annual General Meeting

All new Trustees are provided with a copy of the Constitution, and past accounts are available. The induction of new Trustees is undertaken by the Chairman and at least one other experienced Trustee, and all new Trustees are provided with all information available from the Charity Commission.

Remuneration and Expenses

All Trustees give their time on a voluntary basis and receive no benefit of any sort from the Charity.

Funds held as custodian trustee on behalf of others

Pennine Pen Animal Rescue CIO has not acted as a custodian trustee during this accounting period.

Objectives and Activities

The Charitable Objectives of Pennine Pen Animal Rescue, as set out in the Constitution of the CIO are:

PENNINE PEN ANIMAL RESCUE

TRUSTEES ANNUAL REPORT continued

FOR THE YEAR ENDED 31 MARCH 2024

Public Benefit

The trustees have regard to the guidance issued by the Charity Commission on public benefit, and discuss this at our Trustees meetings where we plan and make decisions for the carrying out of our activities to which the guidance is relevant.

Financial Review

The financial year April 1st 2023 to March 31st 2024 was as expected in relation to fundraising, rehoming of animals, and the Charity shops.

While income streams are either steady or increasing, the continuous increase in costs across the board is relentless. The Trustees have suitable planning and appropriate strategies to deal with this.

Reserves Policy

Our policy is to hold a minimum of 3 months running costs in our free reserves (unrestricted funds).

Achievements and Performance

The rehoming of animals was higher than expected during this period, and the Charity shops performance has been steady. The opportunities for fundraising at the three Fairs is very promising, and we now have a separate Fundraising Committee who are actively seeking out new fundraising opportunities and ideas.

The Trustees Annual Report was approved by the Board of Trustees on the 27[th] of January 2025 and signed by:

Laurence Day Trustee

PENNINE PEN ANIMAL RESCUE

REPORT TO THE MEMBERS ON THE UNAUDITED FINANCIAL STATEMENTS OF PENNINE PEN ANIMAL RESCUE

FOR THE YEAR ENDED 31 MARCH 2024

I report on the accounts for the year ended 31 March 2024 set out on pages 6 to 13.

Respective Responsibilities of Trustees and Examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

The charity’s trustees consider an audit is not required for this year under section 144 of the 2011 Act, and that an independent examination is needed.

It is my responsibility as independent examiner to:

Basis of Independent Examiners Report

My examination was carried out in accordance with the Directions given by the Charity commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts, and seeking explanations from the trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiners Statement

I have completed my examination for the year ended 31 March 2024.

I can confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Independent Examiners Qualification

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination, being a Fellow Member of the Association of Accounting Technicians, which is one of the listed bodies.

27[th] January 2025

Miss Jacqueline Bird F.M.A.A.T.

Practicing Licence Number: 1003659 Community Accounting Lancashire C.I.C. Foxfields, 9 Norley Close, Chadderton, Oldham, OL1 2RA

PENNINE PEN ANIMAL RESCUE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Funds
Restricted
Funds
2024
2024
Notes
£
£
Income from:
Grants and donations
2
38,386
-
Charitable activities
3
31,216
-
Other trading activities
4
194,883
-
Other income
5
18,210
Investments/interest received
9
-
Total
282,704
-
Expenditure on:
Raising funds
-
-
Charitable activities
6
297,166
-
Other expenditure
8
13,382
-
Total
310,548
-
Net income/(expenditure)
(27,844)
-

Transfers between funds
-
-
Net movement in funds
(27,844)
-

Reconciliation of funds:
Total funds brought forward
232,429
-
Total funds carried forward
14
204,585
-		 Total
Funds
2024
£
38,386
31,216
194,883
18,210
9
282,704
-
297,166
13,382
310,548
(27,844)
-
(27,844)
232,429
204,585		 Total
Funds
2023
£
80,378
13,988
195,281
21,688
-
311,335
-
282,053
10,566
292,619
18,716
-
18,716
213,713
232,429

The notes on pages 8 to 13 form part of these financial statements.

Note 15 to the accounts shows a comparative Statement of Financial Activities for the year ended 31 March 2023.

PENNINE PEN ANIMAL RESCUE

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Fixed Assets 9 118,862 122,326
CURRENT ASSETS
Prepayments & Accrued Income 10 3,034 2,803
Debtors 11 350 407
Cash at Bank and in Hand 100,627 140,264
104,011 143,474
CREDITORS: Amounts falling due 12 (18,288) (6,440)
within one year
NET CURRENT ASSETS 85,723 137,034
CREDITORS: Amounts falling due 13 - (26,931)
after one year
NET CURRENT
ASSETS/(LIABILITIES) 85,723 110,103
TOTAL ASSETS 204,585 232,429
FUNDS OF THE CHARITY
Unrestricted Funds 204,585 232,429
Restricted Funds - -
TOTAL FUNDS 14 204,585 232,429

The financial statements were approved by the Board of Trustees on the 27[th] of January 2025 and signed on their behalf:

Laurence Day Trustee

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) [effective January 2022]. The financial statements have been prepared under the historical cost convention.

Going Concern

The trustees are satisfied that there are no material uncertainties about the charity’s ability to continue.

Incoming resources

All income, including grants and donations, is recognised once the charity has entitlement to the income, that it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria’s is identified to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are for grants, donations and other incoming resources received or generated for charitable purposes.

Resources expended

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to applicable expenditure headings.

Charitable expenditure shall include all expenditure directly related to the objects of the charity, including the cost of goods and services, that have been incurred in charitable activities.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount for the obligation can be measured reliably.

Governance costs

Governance costs shall include all expenditure directly related to the administration of the charity including expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements.

Fixed assets

Fixed assets are capitalised if they can be used for more than one year, and cost at least £1,000. They are initially recorded at cost and depreciated on a straight line reducing balance basis.in order to write the asset off over its estimated useful life.

Taxation

Value added tax for the period is recognised at the amount payable and receivable in the statement of financial activities, except for any amounts due to the charity as enacted by the balance sheet date.

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

2. INCOME FROM GRANTS & DONATIONS
Unrestricted
Funds
Restricted
Funds
£
£
Jean Sainsbury Animal Welfare Trust
-
-
Legacies
-
-
Donations
38,386
-

38,386
-

3. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
Restricted
Funds
£
£
Rehoming Fees
31,206
-
Cattery Sponsor
10
-
31,216
-
4. OTHER TRADING ACTIVITIES
Unrestricted
Funds
Restricted
Funds
£
£
Shop Sales
164,941
-
Online Sales
2,036
-
Merchandise Sold
186
-
Recycling Rags
7,646
-
Fundraising
18,916
-
Collection Boxes
1,128
-
Memberships
30
-

194,883
-

5. OTHER INCOME
Unrestricted
Funds
Restricted
Funds
£
£
Refunds
204
-
HMRC Gift Aid
-
-
Output VAT
5,920
-
Sundry Income
12,086
-
18,210
-*		 2024
Total
Funds
£
-
-
38,386
38,386
2024
Total
Funds
£
31,206
10
31,216
2024
Total
Funds
£
161,941
2,036
186
7,646
18,916
1,128
30
194,883
2024
Total
Funds
£
204
-
5,920
12,086
18,210		 2023
Total
Funds
£
5,000
24,423
50,955
80,378
2023
Total
Funds
£
13,988
-
13,988
2023
Total
Funds
£
161,440
9,157
374
7,003
15,180
1,995
132
195,281
2023
Total
Funds
£
1,095
6,456
3,134
11,003
21,688

*Includes £7,212 of HMRC VAT Refunds (2023: £8,743), and £1,000 from the Mayors Appeal Award.

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Unrestricted
Direct &
Governance
Costs
Restricted
Direct &
Governance
Costs
Unrestricted
Support
Costs
Restricted
Support
Costs
£
£
£
£
Salaries Costs
173,696
-
-
-
Veterinary Fees
44,404
-
-
-
Rent, Rates & Utilities
-
-
42,433
-
Insurances
-
-
6,544
-
Maintenance & Repairs
-
-
5,969
-
Stationery, Postage,
Telephones & Advertising
-
-
3,198
-
Merchandise
-
-
-
-
Vehicle Costs
-
-
3,234
-
Mortgage Costs
1,001
-
-
-
Accounts & Payroll Costs
2,117
-
-
-
Bank & Card Costs
4,549
-
-
-
Depreciation
-
-
3,464
-
Sundry Costs
-
-
6,557
-
225,767
-
71,399
-
Total resources expended are stated after charging:
Independent examination fees		 2024
Total
Funds
£
173,696
44,404
42,433
6,544
5,969
3,198
-
3,234
1,001
2,117
4,549
3,464
6,557

297,166
2024
£
1,400		 2023
Total
Funds
£
167,040
36,598
31,300
6,317
13,303
1,819
-
3,506
2,275
2,565
3,513
3,051
10,766
282,053
2023
£
1,400

Independent examination fees

7. STAFF COSTS

The movement in the year is after charging:

Salary Costs

2024
£
173,696		 2023
£
167,040

Average number of employees during the year was 14, an average of 12 full time equivalent (2023: 14, FTE: 12). No employee received emoluments of £60,000 or above (2023: none).

No Trustees were paid any remuneration or expenses during the course of the year (2023: none).

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

8. OTHER EXPENDITURE

Unrestricted
Funds
Restricted
Funds
£
£
Input VAT
13,382
-
13,382
-		 2024
Total
Funds
£
13,382
13,382		 2023
Total
Funds
£
10,566
10,566

9. TANGIBLE FIXED ASSETS

Property
Vehicles
Equipment
& Fittings
Cost or Valuation
£
£
£
Cost at 01/04/23
115,000
12,100
5,830
Additions
-
-
-
Revaluations
-
-
-
Disposals
-
-
-
Cost at 31/03/24
115,000
12,100
5,830
Accumulated Depreciation
Accumulated Depreciation at 01/04/23
-
9,300
1,304
Depreciation charge for the year
-
1,900
1,564
Revaluations
-
-
-
Disposals
-
-
-
Accumulated Depreciation at 31/03/24
-
11,200
2,868
Net Book Value
Net Book Value at 31/03/23
115,000
2,800
4,526
Net Book Value at 31/03/24
115,000
900
2,962		 Total
£
132,930
-
-
-
132,930
10,604
3,464
-
-
14,068
122,326
118,862

10. PREPAYMENTS & ACCRUED INCOME

Prepayments
Accrued Income		 2023
£
3,034
-
3,034		 2023
£
2,803
-
2,803

11. DEBTORS

Debtors
Output VAT		 2023
£
-
350
350		 2023
£
-
407
407

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

12. CREDITORS: Amounts falling due within one year

Creditors
Input VAT
Accruals		 2023
£
-
886
17,402
18,288		 2023
£
-
860
5,580
6,440

13. CREDITORS: Amounts falling due after one year

Mortgage 2023
£
-
-		 2023
£
26,931
26,931

The charity had a mortgage secured against the rescue centre, Honeywell Lane building. This was secured against the value of the building (currently valued at cost of £115,000).

In May 2023 the charity paid off the mortgage in full, showing as a nil balance in the year ended 31[st] March 2024 financial statements ‘Balance Sheet’ creditors, where the mortgage costs (including interest paid) up until the date of discharge were shown in the ‘Statement of Financial Activities’ for the year ended 31[st] March 2024.

14. FUNDS ANALYSIS

Fund Name
Balance as at
1 April 2023
£
Unrestricted Funds
232,429
Restricted Funds
-
TOTAL FUNDS
232,429		 Receipts
Payments
Balance as at
31 March 2024
£
£
£
282,704
(310,548)
204,585
-
-
-
282,704
(310,548)
204,585

PENNINE PEN ANIMAL RESCUE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

15. COMPARATIVE INFORMATION

Unrestricted Restricted Total
Funds Funds Funds
2023 2023 2023
(previous year) (previous year) (previous year)
Notes £ £ £
Income from:
Grants and donations 2 80,378 - 80,378
Charitable activities 3 13,988 - 13,988
Other Trading Activities 4 195,281 - 195,281
Other income 5 21,688 - 21,688
Total 311,335 - 311,335
Expenditure on:
Raising funds - - -
Charitable activities 6 282,053 - 282,053
Other expenditure 8 10,566 - 10,566
Total 292,619 - 292,619
Net income/(expenditure) 18,716 - 18,716
Transfers between funds - - -
Net movement in funds 18,716 - 18,716
Reconciliation of funds:
Total funds brought forward 213,713 - 213,713
Total funds carried forward 14 232,429 - 232,429