CHARITIES COMMISSION COPY
CHARITY REGISTRATION NUMBER: 1173318
Friend Farm Animal Sanctuary Unaudited Financial Statements
For the year ended
31 March 2023
Friend Farm Animal Sanctuary
Financial Statements
Year ended 31 March 2023
| 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 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
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 22 December 2023 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 2023
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 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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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 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 2023
| 2023 | 2023 | 2022 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total | funds | Total funds | ||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Donations and legacies | 4 | 74,993 | 74,993 | 71,605 | |
| Investment income | 5 | 12 | 12 | ||
| Total income | 75,005 | 75,005 | 71,605 | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 6 | 35,082 | 35,082 | 36,026 | |
| Expenditure on charitable activities | 7,8 | 36,885 | 36,884 | 40,847 | |
| Total expenditure | 71,967 | 71,966 | 76,873 | ||
| Net income/(expenditure) and net movement in funds | 3,038 | 3,039 | (5,268) | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 4,977 | 4,977 | 10,245 | ||
| Total funds carried forward | 8,015 | 8,015 | 4,977 |
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 2023
| 31 March 2023 | ||
|---|---|---|
| Note Fixed assets Tangible fixed assets 13 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Funds of the charity Unrestricted funds Total charity funds 16 |
2023 £ 842 8,575 1,401 7,174 8,016 8,015 8,015 |
2022 £ 1,629 4,517 1,169 |
| 3,348 | ||
| 4,977 | ||
| 4,977 | ||
| 4,977 |
These financial statements were approved by the board of trustees and authorised for issue on 22 December 2023, 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 2023
| Year ended 31 March 2023 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 3,039 | (5,268) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 787 | 882 |
| Other interest receivable and similar income | (12) | |
| Interest payable and similar charges | 76 | 28 |
| Changes in: | ||
| Trade and other creditors | 232 | (229) |
| Cash generated from operations | 4,122 | (4,587) |
| Interest paid | (76) | (28) |
| Interest received | 12 | |
| Net cash from/(used in) operating activities | 4,058 | (4,615) |
| Net increase/(decrease) in cash and cash equivalents | 4,058 | (4,615) |
| Cash and cash equivalents at beginning of year | 4,517 | 9,132 |
| Cash and cash equivalents at end of year | 8,575 | 4,517 |
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 2023
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 2023
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:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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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.
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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:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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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.
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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 2023
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 2023
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 Funds Total £ Donations Donations 74,993 5. Investment income Unrestricted Funds Total £ Bank interest receivable 12 |
Funds 2023 Unrestricted Funds Total Funds 2022 £ £ £ 74,993 71,605 71,605 Funds 2023 Unrestricted Funds Total Funds 2022 £ £ £ 12 |
|---|---|
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Friend Farm Animal Sanctuary
Notes to the Financial Statements (continued)
Year ended 31 March 2023
6. Costs of other trading activities
| Unrestricted | Unrestricted | Total |
Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||||
| £ | £ | £ | £ | ||||
| Animal Supplies | 27,000 | 27,000 | 24,556 | 24,556 | |||
| Animal Medical | 6,503 | 6,503 | 8,178 | 8,178 | |||
| Site building and repairs | 1,127 | 1,127 | 2,567 | 2,567 | |||
| Event costs | 452 | 452 | 725 | 725 | |||
| 35,082 | 35,082 | 36,026 | 36,026 | ||||
| 7. | Expenditure on charitable activities by fund | type | |||||
| Unrestricted | Total |
Funds | Unrestricted | Total Funds | |||
| Funds | 2023 | Funds | 2022 | ||||
| £ | £ | £ | £ | ||||
| Support costs | 36,885 | 36,884 | 40,847 | 40,847 | |||
| 8. | Expenditure on charitable activities by activity type | ||||||
| Total funds | Total fund | ||||||
| Support costs | 2023 | 2022 | |||||
| £ | £ | £ | |||||
| Governance costs | 36,810 | 36,810 | 40,435 | ||||
| 9. | Net income/(expenditure) | ||||||
| Net income/(expenditure) is stated after charging/(crediting): | |||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Depreciation of tangible fixed assets | 787 | 882 | |||||
| 10. | Independent examination fees | ||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Fees payable to the independent examiner for: | |||||||
| Independent examination of the financial | statements | 1,584 | 1,584 | ||||
| 11. | Staff costs | ||||||
| The total staff costs and employee benefits for | the reporting period are analysed as | follows: | |||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| Wages and salaries | 23,545 | 23,958 | |||||
| Employer contributions to pension plans | 346 | 376 | |||||
| 23,891 | 24,334 |
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Friend Farm Animal Sanctuary
Notes to the Financial Statements (continued)
Year ended 31 March 2023
11. Staff costs (continued)
The average head count of employees during the year was 2 (2022: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Number of staff | 2 | 2 |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. 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.
13. Tangible fixed assets
| Motor | |||
|---|---|---|---|
| vehicles | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2022 and 31 March 2023 | 1,995 | 1,689 | 3,684 |
| Depreciation | |||
| At 1 April 2022 | 873 | 1,182 | 2,055 |
| Charge for the year | 280 | 507 | 787 |
| At 31 March 2023 | 1,153 | 1,689 | 2,842 |
| Carrying amount | |||
| At 31 March 2023 | 842 | 842 | |
| At 31 March 2022 | 1,122 | 507 | 1,629 |
| Creditors: amounts falling due within one year | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Social security and other taxes | 67 | 106 | |
| Other creditors | 1,334 | 1,063 | |
| 1,401 | 1,169 |
14. Creditors: amounts falling due within one year
15. 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 £346 (2022: £376).
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Friend Farm Animal Sanctuary
Notes to the Financial Statements (continued)
Year ended 31 March 2023
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 April 2022 | Income | Expenditure | 31 March 2023 | |||
| £ | £ | £ | £ | |||
| General funds | 4,977 | 75,005 | (71,967) | 8,015 | ||
| At | At | |||||
| 1 April 2021 | Income | Expenditure | 31 March 2022 | |||
| £ | £ | £ | £ | |||
| General funds | 10,245 | 71,605 | (76,873) | 4,977 | ||
| 17. | Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2023 | |||||
| £ | £ | |||||
| Tangible fixed assets | 842 | 842 | ||||
| Current assets | 8,575 | 8,575 | ||||
| Creditors less than 1 year | (1,401) | (1,401) | ||||
| Net assets | 8,016 | 8,016 | ||||
| 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 | ||||
| 18. | Analysis of changes in net debt | |||||
| At | ||||||
| At 1 Apr 2022 | Cash flows | 31 Mar 2023 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 4,517 | 4,058 | 8,575 |
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Friend Farm Animal Sanctuary
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
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Friend Farm Animal Sanctuary
Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 74,993 | 71,605 |
| Investment income | ||
| Bank interest receivable | 12 | |
| Total income | 75,005 | 71,605 |
| Expenditure | ||
| Costs of other trading activities | ||
| Purchases | 35,082 | 36,026 |
| Expenditure on charitable activities | ||
| Wages and salaries | 23,545 | 23,958 |
| Pension costs | 346 | 376 |
| Rates and water | 3,653 | 3,720 |
| Light and heat | 1,749 | 2,266 |
| Repairs and maintenance | 895 | 1,317 |
| Insurance | 757 | 991 |
| Motor vehicle expenses | 254 | 1,502 |
| Legal and professional fees | 3,211 | 3,268 |
| Telephone | 990 | 1,455 |
| Depreciation | 788 | 882 |
| Other interest payable and similar charges | 76 | 28 |
| Computer consumables | 384 | 335 |
| Cleaning | 106 | |
| Printing, postage and stationery | 162 | 231 |
| 74 | 412 | |
| 36,884 | 40,847 | |
| Total expenditure | 71,966 | 76,873 |
| Net income/(expenditure) | 3,039 | (5,268) |
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Friend Farm Animal Sanctuary
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Animal Supplies | ||
| Animal Supplies | 27,000 | 24,556 |
| Animal Medical | ||
| Animal Medical | 6,503 | 8,178 |
| Site building and repairs | ||
| Site building and repairs | 1,127 | 2,567 |
| Event costs | ||
| Event costs | 452 | 725 |
| Costs of other trading activities | 35,082 | 36,026 |
| Expenditure on charitable activities | ||
| Governance costs | ||
| Wages/Salaries | 23,545 | 23,958 |
| Pension costs | 346 | 376 |
| Rates & water | 3,653 | 3,720 |
| Light & heat | 1,749 | 2,266 |
| Repairs & maintenance | 895 | 1,317 |
| Insurance | 757 | 991 |
| Motor vehicle expenses | 254 | 1,502 |
| Accountancy fees | 1,584 | 1,584 |
| Legal and professional fees | 1,627 | 1,684 |
| Telephone | 990 | 1,455 |
| Depreciation | 788 | 882 |
| Bank charges | 76 | 28 |
| Computer consumables | 384 | 335 |
| Cleaning | 106 | |
| Printing, postage and stationery | 162 | 231 |
| Sundry expenses | 74 | 412 |
| 36,884 | 40,847 | |
| Expenditure on charitable activities | 36,884 | 40,847 |
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