REGISTERED COMPANY NUMBER: 09834007 (England and Wales)
REGISTERED CHARITY NUMBER: 1171888
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
FOR GLENDEE RESCUE LTD (A COMPANY LIMITED BY GUARANTEE)
AGK Partners Chartered Accountants 1 Kings Avenue London N21 3NA
GLENDEE RESCUE LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report ofthe Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| DetailedStatementofFinancialActivities | 11 |
GLENDEE RESCUE LTD
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2020
TRUSTEES
Ms G L Armstrong Director Miss K A Shaw Director Mrs K R McGahan Director
REGISTERED OFFICE Dixons Hill Close Welham Green Hatfield Hertfordshire AL9 7EG
REGISTERED COMPANY NUMBER __ 09834007 (England and Wales)
REGISTERED CHARITY NUMBER 1171888
INDEPENDENT EXAMINER AGK Partners Chartered Accountants 1 Kings Avenue London N21 3NA
Page 1
GLENDEE RESCUE LTD (REGISTERED NUMBER: 09834007)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements for the period 1 November 2019 to 31 October 2020.The Trustees confirm that the annual report and financial statements of the company comply with the Charities Act 2011, the Companies Act 2006, the company's governing document and Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.
OBJECTIVES AND ACTIVITIES
Objectives and aims The Charity's objects are to promote humane behaviour towards animals by providing appropriate care, protection, treatment and security for animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters of pertaining to animal welfare in general and the prevention of cruelty and suffering among animals.
Achievements and performance
The charity has continued to promote humane behaviour towards animals during the year.
Public benefit
In planning any activities for the year the Trustees have considered the Charity Commission guidance on public benefit.
Financial Review
The financial results of the charity are as shown in the Statement of Financial Activities on Page 5. As can be seen, there is a net surplus of 8,177 (2019: net deficit of £8,095) for the period. The Trustees consider that the performance of the charity this year has been satisfactory.
The charity retains some reserves in order to meet the expenses as and when they arise and in the event that no income is being received.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Induction and training of new trustees
There is no formal policy in place for the induction and training of Trustees.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures manage any perceived risks.
Plans for the future
The Trustees propose to continue their current activities going forward.The full impact of the COVID-19 outbreak continues to evolve as of the date of this report and its magnitude is uncertain. The trustees have carefully considered the likely effect of the COVID-19 pandemic on the future performance of the charity and consider that although the pandemic will have an impact on the performance, the charity will have adequate resources and plans to minimise any adverse impact and remain in operational existence.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 July 2021 and signed on its behalf by:
Ms G L Armstrong - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLENDEE RESCUE LTD (REGISTERED NUMBER: 09834007)
Independent examiner's report to the trustees of Glendee Rescue Ltd (‘the Company’)
| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| 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.
Alekos Christofi, FCCA AGK Partners
Chartered Accountants 1 Kings Avenue London N21 3NA
29 July 2021
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GLENDEE RESCUE LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 38,802 | 40,173 | |
| Other trading activities | 2 | 1,570 | 817 |
| Investment income | 3 | 2 | 4 |
| Other income | 715 | - | |
| Total | 41,089 | 40,994 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 322 | 989 |
| Other | 5 | 32,590 | 48,100 |
| Total | 32,912 | 49,089 | |
| NET INCOME/(EXPENDITURE) | 8,177 | (8,095) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 11,276 | 19,371 | |
| TOTALFUNDSCARRIEDFORWARD | 19,453 | 11,276 |
The notes form part of these financial statements
Page 4
GLENDEE RESCUE LTD (REGISTERED NUMBER: 09834007)
STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 12 | 10,570 | 10,570 |
| CURRENT ASSETS | |||
| Debtors | 13 | 115 | 1,413 |
| Cash at bank and in hand | 12,041 | 9,791 | |
| 12,156 | 11,204 | ||
| CREDITORS | |||
| Amounts falling due within one year | 14 | (3,273) | (10,498) |
| NET CURRENTASSETS | 8,883 | 706 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 19,453 | 11,276 | |
| NETASSETS | 19,453 | 11,276 | |
| FUNDS | |||
| Unrestricted funds: | |||
| General fund | 19,453 | 11,276 | |
| TOTALFUNDS | 19,453 | 11,276 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 July 2021 and were signed on its behalf by:
Ms G L Armstrong - Trustee
The notes form part of these financial statements
Page 5
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.
General Information
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1 Kings Avenue, London, N21 3NA.
The presentation currency of the financial statements is the Pound Sterling (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has _ been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
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GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCTOBER 2020
1. ACCOUNTING POLICIES - continued
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised _ in profit and loss.
Cash and cash equivalent Cash and cash equivalents in the statement of financial position comprise cash at banks, in hand and short term deposits.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the company 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.
The trustees regard the foreseeable future as no less than twelve months following the publication of these annual financial statements. The trustees have considered the company's balance sheet position as at the year end, its working capital forecasts, the current COVID-19 crisis and projections, taking account of possible changes in trading performance and the current state of its operating market, and is satisfied that for the foreseeable future, the company's financial position is improving and will enable the company to remain in operational existence. In addition, the trustees have agreed to provide continuing financial support as and when required to enable the charity-company to continue in operational existence. Consequently, the trustees consider it to be appropriate to prepare the financial statements on the going concern basis.
OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Fundraising events | 1,570 | 817 |
| INVESTMENT INCOME | ||
| 2020 | 2019 | |
| £ | £ | |
| Deposit account interest | 2 | 4 |
| RAISING FUNDS | ||
| Raising donations and legacies | ||
| 2020 | 2019 | |
| £ | £ | |
| Fundraising events | - | 658 |
| Support costs | 322 | 331 |
| 322 | 989 |
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GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCTOBER 2020
OTHER
| OTHER | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Staff costs | 4,995 | 12,648 |
| Rent | 18,000 | 18,000 |
| Purchases | 4,032 | 2,202 |
| Travel and subsistence | - | 790 |
| Vet fees | 4,173 | 10,062 |
| Trainers/Dog Consultants | 1,390 | 1,963 |
| Support costs | - | 2,435 |
| 32,590 | 48,100 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2020 | 2019 | |
| £ | £ | |
| Otheroperatingleases | 18,000 | 18,000 |
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
STAFF COSTS
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 40,173 |
| Other trading activities | 817 |
| Investment income | 4 |
| Total | 40,994 |
| EXPENDITURE ON | |
| Raising funds | 989 |
| Other | 48,100 |
| Total | 49,089 |
| NETINCOME/(EXPENDITURE) | (8,095) |
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GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCTOBER 2020
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | - continued |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 19,371 |
| TOTALFUNDSCARRIEDFORWARD | 11,276 |
INDEPENDENT EXAMINATION FEES
The fees payable to the independent examiner for independent examination of the financial statements for 2020 was £720 (2019: £720).
11. LIMITED BY GUARANTEE
The Glendee Rescue Ltd is a UK registered charity, number 1171888. It was incorporated on 20 October 2015 and has no share capital.
TANGIBLE FIXED ASSETS
| Freehold | ||
|---|---|---|
| property | ||
| £ | ||
| COST | ||
| At | 1 November2019 and 31 October 2020 | 10,570 |
| NET BOOKVALUE | ||
| At | 31 October 2020 | 10,570 |
| At | 31October2019 | 10,570 |
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Other debtors | - | 1,390 |
| Prepayments | 115 | 23 |
| 115 | 1,413 |
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GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCTOBER 2020
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 363 | 7,537 |
| Social security and other taxes | 283 | 283 |
| Other creditors | 508 | 508 |
| Sundry | 79 | 79 |
| Accrued expenses | 2,040 | 2,091 |
| 3,273 | 10,498 |
15. RELATED PARTY DISCLOSURES
During the year, rent payable to the connected company amounted to £18,000.
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