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 2024
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 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
GLENDEE RESCUE LTD
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2024
TRUSTEES
Ms G L Armstrong Miss K A Shaw
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 2024
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 2023 to 31 October 2024.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.
However, the charity faced ongoing challenges in its operations. In particular, the trustees encountered significant difficulties in recruiting and retaining suitable employees to manage and deliver the charity's work. Despite repeated efforts, it became clear that the charity could not continue its activities sustainably without adequate operational support.
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 loss of £23,378 (2023: £21,180 net profit) for the period. The Trustees consider that the performance of the charity this year has been satisfactory. The loss for the period arose after adjustments for a debtor balance writen off and impairment of assets. If these adjustments are excluded, then the result for the year would have been a net profit of £ 10,686.
Due to the decision to cease operations, the accounts have not been prepared on a going concern basis. Assets have been valued at amounts expected to be recovered, and any known liabilities have been recognised in full.
The retained reserves at the end of the year amounted to £ 47,577 and the trustees are satisfied that the charity retains sufficient assets to meet all outstanding obligations.
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
As part of their training, Trustees are given an information pack which includes the Foundation's Memorandum and Articles of Association and the Charity Commission guidance on Trustees' Responsibilities. All Trustees are aware of their legal duties and obligations in respect of the management of the Foundation, including in relation to the protection of its assets.
Related parties
An intercompany balance of £18,578 due from Glendee Ltd has been written off during the year, as the trustees have assessed that the amount is no longer recoverable since this company is currently under liquidation.
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.
Page 2
GLENDEE RESCUE LTD (REGISTERED NUMBER: 09834007)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Cessation of Activities and Plans for the future
Uncertainties in the current climate continues and following the end of the financial year, the trustees made the decision to cease all charitable operations. The charity formally ceased its activities by the year end. This decision was taken after careful consideration of the charity's operational constraints and long-term viability.
In accordance with charity law and the company's articles, any remaining assets of Glendee Rescue Ltd will be applied towards charitable purposes. The trustees are taking appropriate steps to transfer any surplus funds or assets to a charity with similar charitable objectives.
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
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 18 September 2025 and signed on its behalf by:
Ms G L Armstrong - Trustee
Page 3
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')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024.
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, I 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 I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
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)).
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.
Alekos Christofi, FCCA
AGK Partners Chartered Accountants 1 Kings Avenue London N21 3NA
18 September 2025
Page 4
GLENDEE RESCUE LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 41,844 Other trading activities 2 620 Investment income 3 15 Total 42,479 EXPENDITURE ON Raising funds 4 30,492 Charitable activities 5 Other Expenses 163 Other 6 30,287 Total 60,942 NET INCOME/(EXPENDITURE) (18,463) RECONCILIATION OF FUNDS Total funds brought forward 66,039 TOTAL FUNDS CARRIED FORWARD 47,576 |
2023 Total funds £ 57,336 3,481 9 |
|---|---|
| 60,826 | |
| 17,170 168 22,308 |
|
| 39,646 | |
| 21,180 44,859 |
|
| 66,039 |
The notes form part of these financial statements
Page 5
GLENDEE RESCUE LTD (REGISTERED NUMBER: 09834007)
STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 12 - CURRENT ASSETS Debtors 13 - Cash at bank and in hand 50,671 50,671 CREDITORS Amounts falling due within one year 14 (3,095) NET CURRENT ASSETS 47,576 TOTAL ASSETS LESS CURRENT LIABILITIES 47,576 NET ASSETS 47,576 FUNDS Unrestricted funds: General fund 47,576 TOTAL FUNDS 47,576 |
2023 Total funds £ 10,570 18,578 55,016 |
|---|---|
| 73,594 (18,125) |
|
| 55,469 | |
| 66,039 | |
| 66,039 | |
| 66,039 | |
| 66,039 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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 18 September 2025 and were signed on its behalf by:
Ms G L Armstrong - Trustee
The notes form part of these financial statements
Page 6
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. 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.
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 (£).
These accounts have been prepared on a basis other than going concern, under which assets and liabilities are stated at amounts expected to be realised or settled in the normal course of winding up the charity’s affairs.
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 Foundation is not subject to any taxes on its charitable activities. Irrecoverable VAT is charged to the SOFA against the category of resources expended for which it was incurred.
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.
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.
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.
Page 7
continued...
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES - continued
Financial instruments
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.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Fundraising events | 620 | 3,481 | ||
| 3. | INVESTMENT INCOME | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Deposit account interest | 15 | 9 | ||
| 4. | RAISING FUNDS | |||
| Raising donations and legacies | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Support costs | 1,344 | 17,170 | ||
| Other trading activities | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Bad debts | 18,578 | - | ||
| Impairment losses | 10,570 | - | ||
| 29,148 | - | |||
| Aggregate amounts | 30,492 | 17,170 | ||
| 5. | CHARITABLE ACTIVITIES COSTS | |||
| Direct | Support | |||
| Costs | costs | Totals | ||
| £ | £ | £ | ||
| Other Expenses | 152 | 11 | 163 |
Page 8
continued...
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
6. OTHER
| OTHER | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Rent | 21,000 | 15,000 |
| Purchases | 2,279 | 3,757 |
| Repairs and maintenance | 46 | 255 |
| Travel and subsistence | - | 420 |
| Vet fees | 6,252 | 2,815 |
| Trainers/Dog Consultants | 581 | 61 |
| Support costs | 1,484 | 17,338 |
| 31,642 | 39,646 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Other operating leases | 21,000 | 15,000 |
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 57,336 |
| Other trading activities | 3,481 |
| Investment income | 9 |
| Total | 60,826 |
| EXPENDITURE ON | |
| Raising funds | 17,170 |
| Charitable activities | |
| Other Expenses | 168 |
| Other | 22,308 |
| Total | 39,646 |
| NET INCOME | 21,180 |
Page 9
continued...
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 44,859 |
| TOTAL FUNDS CARRIED FORWARD | 66,039 |
10. INDEPENDENT EXAMINATION FEES
The fees payable to the independent examiner for independent examination of the financial statements for 2024: £1,080 (2023: £960).
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.
12. TANGIBLE FIXED ASSETS
| 12. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Freehold | ||||
| property | ||||
| £ | ||||
| COST | ||||
| At 1 November 2023 | 10,570 | |||
| Impairments | (10,570) | |||
| At 31 October 2024 | - | |||
| NET BOOK VALUE | ||||
| At 31 October 2024 | - | |||
| At 31 October 2023 | 10,570 | |||
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Other debtors | - | 18,578 |
Page 10
continued...
GLENDEE RESCUE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Accrued expenses |
2024 £ 790 2,305 3,095 |
2023 £ 1,420 16,705 |
| 18,125 |
15. RELATED PARTY DISCLOSURES
During the year, rent payable to a connected company amounted to £21,000 (2023 : £15,000).
16. POST BALANCE SHEET EVENTS
The charity has ceased its operations and is in the process of formal closure with the Charity Commission. Appropriate steps are being taken for the net assets to be transferred to a charity with similar purposes, in accordance with the charity’s governing documents and wind-up process.
Page 11
GLENDEE RESCUE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 40,463 | 48,149 |
| Grants | 285 | 593 |
| Adoption fees | 1,096 | 8,594 |
| 41,844 | 57,336 | |
| Other trading activities | ||
| Fundraising events | 620 | 3,481 |
| Investment income | ||
| Deposit account interest | 15 | 9 |
| Total incoming resources | 42,479 | 60,826 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bad debts | 18,578 | - |
| Impairment losses for tangible fixed assets | 10,570 | - |
| 29,148 | - | |
| Charitable activities | ||
| Sundry | 152 | - |
| Other | ||
| Rent | 21,000 | 15,000 |
| Purchases | 2,279 | 3,757 |
| Repairs and maintenance | 46 | 255 |
| Travel and subsistence | - | 420 |
| Vet fees | 6,252 | 2,815 |
| Trainers/Dog Consultants | 581 | 61 |
| 30,158 | 22,308 | |
| Support costs | ||
| Management | ||
| Postage and stationery | - | 68 |
| Cleaning | 129 | 100 |
| 129 | 168 | |
| Finance | ||
| Bank charges | 11 | - |
| Governance costs | ||
| Accountancy fees | 1,200 | 16,585 |
| Legal fees | 144 | 585 |
| 1,344 | 17,170 |
This page does not form part of the statutory financial statements
Page 12
GLENDEE RESCUE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Total resources expended | 60,942 | 39,646 |
| Net (expenditure)/income | (18,463) | 21,180 |
This page does not form part of the statutory financial statements
Page 13