2022-03-31-accounts

CHARITIES COMMISSION COPY

CHARITY REGISTRATION NUMBER: 1173318

Friend Farm Animal Sanctuary Unaudited Financial Statements

For the year ended

31 March 2022

Friend Farm Animal Sanctuary

Financial Statements

Year ended 31 March 2022

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	2
Statement of financial activities	3
Statement of financial position	4
Statement of cash flows	5
Notes to the financial statements	6
The following pages do not form part of the financial statements
Detailed statement of financial activities	14
Notes to the detailed statement of financial activities	15

Friend Farm Animal Sanctuary

Trustees' Annual Report

Year ended 31 March 2022

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.

Reference and administrative details

Registered charity name Friend Farm Animal Sanctuary Charity registration number 1173318 Principal office 89 Bush Road East Peckham Tonbridge TN12 5LJ

The trustees

Mr M Eaton (Chair) Mr L Cash Ms J Fisher Independent examiner LESSER & CO Chartered Accountants & Business Advisors 147 Station Road North Chingford London E4 6AG

Structure, governance and management

Governing document

The charity is controlled by its governing document, based on the Charity Commission's Foundation Model for a Charitable Incorporated Organisation (CIO).

Objectives and activities

The charity is for the benefit of the public to relieve the suffering of animals in need of care and attention. In particular, to provide and maintain rescue homes or other facilities for the reception, care and treatment of such animals.

Our Mission is to offer sanctuary to unwanted, neglected and abused animals, whilst educating about animals, veganism and ecological sustainability.

The trustees' annual report was approved on 6 August 2022 and signed on behalf of the board of trustees by:

Mr M Eaton (Chair) Trustee

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Friend Farm Animal Sanctuary

Independent Examiner's Report to the Trustees of Friend Farm Animal

Sanctuary

Year ended 31 March 2022

I report to the trustees on my examination of the financial statements of Friend Farm Animal Sanctuary ('the charity') for the year ended 31 March 2022.

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 Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

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 accounts to be reached.

LESSER & CO Chartered Accountants & Business Advisors Independent Examiner

147 Station Road North Chingford London E4 6AG

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Friend Farm Animal Sanctuary

Statement of Financial Activities

Year ended 31 March 2022

		2022	2022	2021
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	71,605	71,605	82,169
		────────	────────	────────
Total income		71,605	71,605	82,169
		════════	════════	════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities	5	36,026	36,026	39,822
Expenditure on charitable activities	6,7	40,847	40,847	39,230
		────────	────────	────────
Total expenditure		76,873	76,873	79,052
		════════	════════	════════
		────────	────────	────────
Net (expenditure)/income and net movement in funds		(5,268)	(5,268)	3,117
		════════	════════	════════
Reconciliation of funds
Total funds brought forward		10,245	10,245	7,128
		────────	────────	────────
Total funds carried forward		4,977 ════════	4,977 ════════	10,245 ════════

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 12 form part of these financial statements.

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Friend Farm Animal Sanctuary

Statement of Financial Position

31 March 2022

		2022	2021
	Note	£	£
Fixed assets
Tangible fixed assets	12	1,629	2,511
Current assets
Cash at bank and in hand		4,517	9,132
Creditors: amounts falling due within one year	13	1,169	1,398
		───────	───────
Net current assets		3,348	7,734
		───────	────────
Total assets less current liabilities		4,977	10,245
		═══════	════════
Funds of the charity
Unrestricted funds		4,977	10,245
		───────	────────
Total charity funds	15	4,977 ═══════	10,245 ════════

These financial statements were approved by the board of trustees and authorised for issue on 6 August 2022, and are signed on behalf of the board by:

Mr M Eaton (Chair) Trustee

The notes on pages 6 to 12 form part of these financial statements.

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Friend Farm Animal Sanctuary

Statement of Cash Flows

Year ended 31 March 2022

	2022	2021
	£	£
Cash flows from operating activities
Net (expenditure)/income	(5,268)	3,117
Adjustments for:
Depreciation of tangible fixed assets	882	1,062
Interest payable and similar charges	28	34
Changes in:
Trade and other creditors	(229)	(859)
	───────	───────
Cash generated from operations	(4,587)	3,354
Interest paid	(28)	(34)
	───────	───────
Net cash (used in)/from operating activities	(4,615)	3,320
	═══════	═══════
Cash flows from investing activities
Purchase of tangible assets	–	(3,517)
	───────	───────
Net cash used in investing activities	–	(3,517)
	═══════	═══════
Net decrease in cash and cash equivalents	(4,615)	(197)
Cash and cash equivalents at beginning of year	9,132	9,329
	───────	───────
Cash and cash equivalents at end of year	4,517 ═══════	9,132 ═══════

The notes on pages 6 to 12 form part of these financial statements.

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Friend Farm Animal Sanctuary

Notes to the Financial Statements

Year ended 31 March 2022

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 89 Bush Road, East Peckham, Tonbridge, TN12 5LJ, United Kingdom.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

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, non-charitable 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles - 25% reducing balance Equipment - 33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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.

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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Financial instruments (continued)

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Donations
Donations	71,605	71,605	82,169	82,169
	════════	════════	════════	════════

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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

5. Costs of other trading activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Animal Supplies	24,556	24,556	28,503	28,503
Animal Medical	8,178	8,178	8,855	8,855
Site building and repairs	2,567	2,567	2,399	2,399
Event costs	725	725	65	65
	────────	────────	────────	────────
	36,026 ════════	36,026 ════════	39,822 ════════	39,822 ════════

6. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Support costs	40,847 ════════	40,847 ════════	39,230 ════════	39,230 ════════

7. Expenditure on charitable activities by activity type

			Total funds	Total fund
		Support costs	2022	2021
		£	£	£
	Governance costs	40,435	40,435	39,230
		════════	════════	════════
8.	Net (expenditure)/income
	Net (expenditure)/income is stated after charging/(crediting):
			2022	2021
			£	£
	Depreciation of tangible fixed assets		882	1,062
			════	═══════
9.	Independent examination fees
			2022	2021
			£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements		1,584 ═══════	2,940 ═══════

		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	1,584	2,940
		═══════	═══════
10.	Staff costs
	The total staff costs and employee benefits for the reporting period are analysed as		follows:
		2022	2021
		£	£
	Wages and salaries	23,958	19,197
	Employer contributions to pension plans	376	139
		────────	────────
		24,334 ════════	19,336 ════════

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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

10. Staff costs (continued)

The average head count of employees during the year was 2 (2021: 2). The average number of full-time equivalent employees during the year is analysed as follows:

2022 2021 No. No. Number of staff 2 2 ════ ════

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

11. Trustee remuneration and expenses

One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.

12. Tangible fixed assets

		Motor
		vehicles	Equipment	Total
		£	£	£
	Cost
	At 1 April 2021 and 31 March 2022	1,995	1,689	3,684
		═══════	═══════	═══════
	Depreciation
	At 1 April 2021	499	674	1,173
	Charge for the year	374	508	882
		───────	───────	───────
	At 31 March 2022	873	1,182	2,055
		═══════	═══════	═══════
	Carrying amount
	At 31 March 2022	1,122	507	1,629
		═══════	═══════	═══════
	At 31 March 2021	1,496	1,015	2,511
		═══════	═══════	═══════
13.	Creditors: amounts falling due within one year
			2022	2021
			£	£
	Social security and other taxes		106	663
	Other creditors		1,063	735
			───────	───────
			1,169 ═══════	1,398 ═══════

14. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £376 (2021: £139).

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Friend Farm Animal Sanctuary

Notes to the Financial Statements (continued)

Year ended 31 March 2022

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
				At
	At		31 March 202
	1 April 2021	Income	Expenditure	2
	£	£	£	£
General funds	10,245	71,605	(76,873)	4,977
	════════	════════	════════	═══════
				At
	At			31 March 202
	1 April 2020	Income	Expenditure	1
	£	£	£	£
General funds	7,128	82,169	(79,052)	10,245
	═══════	════════	════════	════════
Analysis of net assets between funds
			Unrestricted	Total Funds
			Funds	2022
			£	£
Tangible fixed assets			1,629	1,629
Current assets			4,517	4,517
Creditors less than 1 year			(1,169)	(1,169)
			───────	───────
Net assets			4,977	4,977
			═══════	═══════
			Unrestricted	Total Funds
			Funds	2021
			£	£
Tangible fixed assets			2,511	2,511
Current assets			9,132	9,132
Creditors less than 1 year			(1,398)	(1,398)
			────────	────────
Net assets			10,245 ════════	10,245 ════════

16. Analysis of net assets between funds

17. Analysis of changes in net debt

					At
	At	1	Apr 2021	Cash flows	31 Mar 2022
			£	£	£
Cash at bank and in hand			9,132 ═══════	(4,615) ═══════	4,517 ═══════

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Friend Farm Animal Sanctuary

Management Information

Year ended 31 March 2022

The following pages do not form part of the financial statements.

- 13 -

Friend Farm Animal Sanctuary

Detailed Statement of Financial Activities

Year ended 31 March 2022

	2022	2021
	£	£
Income and endowments
Donations and legacies
Donations	71,605	82,169
	────────	────────
	────────	────────
Total income	71,605	82,169
	════════	════════
Expenditure
Costs of other trading activities
Purchases	36,026	39,822
	────────	────────
Expenditure on charitable activities
Wages and salaries	23,958	19,197
Pension costs	376	139
Rates and water	3,720	1,708
Light and heat	2,266	2,925
Repairs and maintenance	1,317	4,490
Insurance	991	1,077
Motor vehicle expenses	1,502	2,132
Legal and professional fees	3,268	4,169
Telephone	1,455	1,183
Depreciation	882	1,062
Other interest payable and similar charges	28	34
Computer consumables	335	466
Cleaning	106	489
Printing, postage and stationery	231	159
	412	–
	────────	────────
	40,847	39,230
	────────	────────
	────────	────────
Total expenditure	76,873	79,052
	════════	════════
	────────	────────
Net (expenditure)/income	(5,268) ════════	3,117 ════════

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Friend Farm Animal Sanctuary

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2022

	2022	2021
	£	£
Costs of other trading activities
Animal Supplies
Animal Supplies	24,556	28,503
	────────	────────
Animal Medical
Animal Medical	8,178	8,855
	───────	───────
Site building and repairs
Site building and repairs	2,567	2,399
	───────	───────
Event costs
Event costs	725	65
	────	────
	────────	────────
Costs of other trading activities	36,026	39,822
	════════	════════
Expenditure on charitable activities
Governance costs
Wages/Salaries	23,958	19,197
Pension costs	376	139
Rates & water	3,720	1,708
Light & heat	2,266	2,925
Repairs & maintenance	1,317	4,490
Insurance	991	1,077
Motor vehicle expenses	1,502	2,132
Accountancy fees	1,584	2,940
Legal and professional fees	1,684	1,229
Telephone	1,455	1,183
Depreciation	882	1,062
Bank charges	28	34
Computer consumables	335	466
Cleaning	106	489
Printing, postage and stationery	231	159
Sundry expenses	412	–
	────────	────────
	40,847	39,230
	────────	────────
	────────	────────
Expenditure on charitable activities	40,847 ════════	39,230 ════════

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