Charity registration number 1171668
CURLY TAILS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CURLY TAILS
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Denise Scott |
|---|---|
| Charity number (England and | 1171668 |
| Wales) | |
| Principal address | 19 Drayton Road |
| Newton Longville | |
| Milton Keynes | |
| Buckinghamshire | |
| MK17 0BH | |
| Independent examiner | Sherwoods Ltd |
| Chartered Certified Accountants | |
| 1st Floor | |
| 27 Shirwell Crescent | |
| Furzton Lake | |
| Milton Keynes | |
| MK4 1GA |
CURLY TAILS
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
CURLY TAILS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance 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 (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objectives are the rescue, rehabilitation and care of unwanted pet pigs and the provision of a safe environment for the animals to enjoy, re-homing them where possible to new, forever homes, and if this cannot be achieved, keeping them for the remainder of their natural lives. No pigs are ever sold, used for meat or for breeding purposes. An animal will only be humanely destroyed by veterinary surgeons if they have no quality of life due to chronic poor health or degeneration through old age.
The charity also incorporates the advancement of learning, education and wellbeing for all abilities and ages through teaching, harmonious and direct interaction with the animals giving enrichment and understanding to both human and porcine life.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. They have considered the Commission's issued guidance on public benefit and are satisfied that the Charity fully meets all specified requirements.
Financial review
In common with many small charities, Curly Tails has seen a reduction in donations in the year although income from events, visits and merchandise sales have all increased. The charity continues to expand its educational program and develop bespoke experiences for local schools and special needs groups of all ages. To facilitate this, additional spending was incurred on access and parking at the sanctuary as well as the regular and ongoing maintenance of animal housing and fences.
At 31st March, the charity had sufficient reserves to continue its work with the re-homed animals and to develop and strengthen its links with the local community and beyond in accordance with its stated objectives.
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Trustees who served during the year and up to the date of signature of the financial statements were: Denise Scott
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CURLY TAILS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
The Trustees' report was approved by the Board of Trustees.
.............................. Denise Scott Trustee
Date: .............................................
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CURLY TAILS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CURLY TAILS
I report to the Trustees on my examination of the financial statements of Curly Tails (the Charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Ruth Dorans FCCA Sherwoods Ltd
1st Floor 27 Shirwell Crescent Furzton Lake Milton Keynes Bucks MK4 1GA UK
Dated: .........................
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CURLY TAILS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and pig sponsorship 3 74,897 8,500 Charitable activities 52,176 - Investments 4 314 - Total income 127,387 8,500 Expenditure on: Raising funds 5 8,349 - Charitable activities 134,174 8,664 Other expenditure 9 251 - Total expenditure 142,774 8,664 Net income/(expenditure) and movement in funds (15,387) (164) Reconciliation of funds: Fund balances at 1 April 2023 53,708 260 Fund balances at 31 March 2024 38,321 96 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 83,397 89,760 11,720 52,176 45,721 - 314 74 - 135,887 135,555 11,720 8,349 14,627 - 142,838 97,924 13,298 251 151 - 151,438 112,702 13,298 (15,551) 22,853 (1,578) 53,968 30,855 1,838 38,417 53,708 260 |
Total 2023 £ 101,480 45,721 74 |
|---|---|---|
| 147,275 | ||
| 14,627 111,222 151 |
||
| 126,000 | ||
| 21,275 32,693 |
||
| 53,968 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CURLY TAILS
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Net assets excluding pension liability Net assets The funds of the Charity Restricted income funds 17 Unrestricted funds |
2024 £ 2,501 30,504 33,005 (5,365) |
£ 10,777 27,640 38,417 - 38,417 38,417 96 38,321 38,417 |
2023 £ 1,433 49,618 51,051 (3,200) |
£ 10,263 47,851 58,114 (4,146) 53,968 53,968 260 53,708 53,968 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on .........................
.............................. Denise Scott Trustee
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Charity's governing document, the Charities Act 2011, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Statement of Recommended Practice and Reporting by Charities.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 25% on cost Computers 25% on cost Motor vehicles 25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Taxation
The charity is exempt from tax on all it's charitable activities.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
3 Income from donations and pig sponsorship
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 51,602 - Gift aid 17,679 - Grants received 5,616 8,500 74,897 8,500 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 51,602 74,222 - 17,679 13,954 - 14,116 1,584 11,720 83,397 89,760 11,720 |
Total 2023 £ 74,222 13,954 13,304 |
|---|---|---|
| 101,480 |
4 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 314 | 74 | |
| 5 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Advertising | 8,349 | 14,627 | |
| 6 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Depreciation of owned tangible fixed assets | 3,780 | 3,673 |
7 Trustees Expenses
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
The charity paid rent of £27,000 to the Trustee for use of the land, barns and office, where the animals are cared for. This is considered to be equal to the market value rent for the property.
A small amount of out of pocket expenses were repaid to the Trustee in the period.
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | 2 | 2 |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 21,836 | 20,514 |
| Other pension costs | 2,016 | 850 |
| 23,852 | 21,364 |
9 Other expenditure
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Financing costs | 251 | 151 |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 11 Tangible fixed assets Plant and equipment Computers £ £ Cost At 1 April 2023 13,029 924 Additions 1,488 2,807 At 31 March 2024 14,517 3,731 Depreciation and impairment At 1 April 2023 6,223 767 Depreciation charged in the year 1,948 1,007 At 31 March 2024 8,171 1,774 Carrying amount At 31 March 2024 6,346 1,957 At 31 March 2023 6,807 157 12 Debtors Amounts falling due within one year: Prepayments and accrued income 13 Loans and overdrafts Bank loans Payable within one year Payable after one year 14 Creditors: amounts falling due within one year Notes Bank loans 13 Accruals and deferred income |
Motor vehicles £ 6,878 - 6,878 3,579 825 4,404 2,474 3,299 2024 £ 2,501 2024 £ 1,665 1,665 - 2024 £ 1,665 3,700 5,365 |
Total £ 20,831 4,295 |
|---|---|---|
| 25,126 | ||
| 10,569 3,780 |
||
| 14,349 | ||
| 10,777 | ||
| 10,263 | ||
| 2023 £ 1,433 |
||
| 2023 £ 6,146 |
||
| 2,000 4,146 |
||
| 2023 £ 2,000 1,200 |
||
| 3,200 |
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 15 Creditors: amounts falling due after more than one year Notes Bank loans 13 16 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ - 2024 £ 2,016 |
2023 £ 4,146 |
|---|---|---|
| 2023 £ 850 |
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
17 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At Classroom project Rothschild project Previous year: At Classroom project Rothschild project MK Community |
1 April 2023 Incoming resources Resources expended Transfers Gains and losses At 31 March 2024 £ £ £ £ £ £ 260 - (164) - - 96 8,500 (8,500) - - - 260 8,500 (8,664) - - 96 1 April 2022 Incoming resources Resources expended Transfers Gains and losses At 31 March 2023 £ £ £ £ £ £ 507 - (247) - - 260 1,331 4,500 (5,831) - - - - 7,220 (7,220) - - - 1,838 11,720 (13,298) - - 260 |
1 April 2023 Incoming resources Resources expended Transfers Gains and losses At 31 March 2024 £ £ £ £ £ £ 260 - (164) - - 96 8,500 (8,500) - - - 260 8,500 (8,664) - - 96 1 April 2022 Incoming resources Resources expended Transfers Gains and losses At 31 March 2023 £ £ £ £ £ £ 507 - (247) - - 260 1,331 4,500 (5,831) - - - - 7,220 (7,220) - - - 1,838 11,720 (13,298) - - 260 |
|---|---|---|
| 260 |
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CURLY TAILS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 53,708 | 127,387 | (142,774) | 38,321 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 30,855 | 135,555 | (112,702) | 53,708 |
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| 2024 | 2024 | 2024 | ||
| £ | £ | £ | ||
| At 31 March 2024: | ||||
| Tangible assets | 10,681 | 96 | 10,777 | |
| Current assets/(liabilities) | 27,640 | - | 27,640 | |
| 38,321 | 96 | 38,417 | ||
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| At 31 March 2023: | ||||
| Tangible assets | 10,003 | 260 | 10,263 | |
| Current assets/(liabilities) | 47,851 | - | 47,851 | |
| Long term liabilities | (4,146) | - | (4,146) | |
| 53,708 | 260 | 53,968 |
19 Analysis of net assets between funds
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