Charity Ragistration No. 1174351 GREYHOUNDS IN NEED CIO TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
GREYHOUNDS IN NEED CIO LEGAL AND ADMINISTRATIVE INFORMATION Charlty number 1174351 Patrons Jilly Cooper CBE Peter Egan Dame Judi Dench CH DBE FRSA Ricky Gervais Founders Mrs B Anne Finch Ideceasedl Arthur Finch Ideceasedl Trustees Patricia Whipps Christine Goodwin Geraldine Jones Leigh Sobye BVSC MRCVS Sarnanlha Taylor General Manager TraY Sanderson Prlnclpal addross Unil 5A-80 High Street Egham Surrey TW20 9HE Independant oxaminar Azets Audit Services Gladstone House 77-79 High Street Egham Sutrey TW20 9HY United Kingdom Bankers Coulls & Co 440 Strand London WC2R OQS United Kingdom
GREYHOUNDS IN NEED CIO CONTENTS Page Trustees report Independent examinerfs report Statement of financial activities Balance sheet Notes to the accounts 7-12
GREYHOUNDS IN NEED CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report and accounts for the year ended 31 December 2023. structure. governance and management The charity is the successor lo Greyhounds in Need (registered charity number 10694381, which was established by a declaration of trust dated 16 April 1998, with subsequent amendments. 11 was registered as a Charitable Incorporated Organisation on 23 August 2017. On 31 December 2017 all the aclivilies, assets and liabilities of the incorporated charity were transferred by deed to this Charitable Incorporated Organisation. The trustees who served during the year were.. Patricia Whipps Christine Goodwin Geraldine Jones Leigh Sobye BVSC MRCVS Samantha Taylor We remain indebted to our distinguished Patrons for their support of the charity and for the enhancement they bring to its standing with the public. Objects and Aim Our principal area of activity is in Spain, where we support the rescue. veterinary treatment and rehoming of native hunting greyhounds, known as galgDS. We also do work lo support the transport and rehoming of greyhounds from Ireland and in the UK and help, when the need arises, the plight of suffering greyhounds globally. The trustees recognise that education of the younger generatlDn in animal welfare offers the only hope of bringing the maltreatment of Spanish galgos lo an end. We continue to invest in developing our education programme Spain through further development our education website Ihllps'.11 educalion.greyhoundsinneed.co.ukl and the provision of teaching resources and infrastructure al the point of need. c0muNiCation from our educational programme end-U5ers have provided very positive feedback that the programme has been enthusiastically received by the children and that an understanding of animal welfare and the plight of the galgos is developing. The Iruslees consider that our education programme will require continued financial investment in the forthcoming financial years. The Iruslees are always al pains lo ensure that the charity's expenditure is strictly limited lo its charitable objects and that administration costs are kept to a minimum. In particular, care is taken to see that all funds spent abroad are carefully controlled and restricted to organisatlDns known to us to be trusOrthy. Trustees and stsff aim to make regular visits to Spain to check on projects already Completed and lo research future needs. Work In Spaln We have continued to support finanaally the veterinary costs and transport of galgos over the previous year. We have also managed to continue our direct aid support relating to infrastructure projects in the year totalling £207,000 12022.. £132,000). Spending on our education programme in Spain increased lo £31,547 12022.. £10,305). A detailed breakdown of the charity's expenditu on our work in Spain can be found in the annual financial slatemenls. In 2023, the expenditure has exceeded income by around £61.00012022.' £58.0001. In 2023 we have been able lo offer funding Iveterinarylboardingltransportl which enabled 479 galgos and 89 greyhounds to be rescued, transported and adopted in the UK and Europe. During 2023 after a trustee visit lo Caceres we have found a new group lo work with which we hope lo be an ongoing partnership.
GREYHOUNDS IN NEED CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Work in the UK GIN fundraises in the UK to support rfts Work in Spain. We continue lo promote online giving and increase purchases from our online merchandise shop and Ebay sales lo assist in increasing our fundraising income. We are also active in transport, veterinary and other areas lo assist the rehoming of ex-racing dogs from Ireland and the UK. Admlnlstratlon The trustees are aware of their responsibility lo keep administration costs lo a minimum and regularly monitor expenditure lo ensure that they fulfil this obligaty'on. Legacies As will be seen from the finan¢ial slalements we have been fortunate in becoming entitled lo IaThe$ amounting to £225,86512022.' £171.5211. We are extremely grateful to our supporters who are kind enough to remember us in their wills. As with all other charities, legacies form a vital part of the income we are able lo devote to our charitable work. Reservgs Pollcy As noted above, the trustees Continue to follow their policy of spending our reserves Dn the charitable Objects for which money has been provided by our supporters. When excluding the legacy income, we have again drawn down our reserves considerably due lo reduced income from other revenue streams during the year. Our work involves considerable expenditure in Europe, primarily Spain, and we are careful to ensure the prudent retention of sufficient funds lo Cover current liabilities and to enable us lo fulfil the commitments we have made lo those we work wlh here and abroad and enable GIN lo meet unexpected future needs. In 2024 we continue lo promote our education programme in Spain. After restrictions following Covid-19 pandemic 2023 saw an increase in the number of school visits that were able lo take place. We have continued to update our education website and expanded on the supportlgranls we give to our contacts abroad who are promoting our project in their areas. We will continue to promote and expand education in Spain. In particular we continue lo sponsor the new education centre in Barcelona. We believe a reserve of £250,000 should be retained for this. We continue lo help the shelters in Spain to improve the conditions of the sheerS lo maximise the safely and security lor the animals in their care and have several projects planned for 2024. Imth the additional reserves held at year end. we are currently helping to build an animal rescue ¢entre in cara$. Spain supporting galgo kennels and exercise paddocks. We believe a reserve of £170,000 should be retained for this. The Trustees feel il is prudent to keep a General Reserve for running the charity of £195,000 and also maintain a Crisis Reserve of £60,000 to assist in any international crisis affecting greyhounds and greyhound cross breeds. 11 is understood that other dog breeds may benefit from the expenditure we make In assisting In any such crisis. Risk Management The Charity will annually review ils Risk Register in order to reduce any risks. Major risks lo which the charity is exposed have been identified- lalThe main risk lo the charity would be the legacy income drying up. The charity has been very fortunate to receive substsntial legacies over recent years allowing us to expand our work for the greyhounds and galgos. We appreciate Ihat this source of income cannot be relied upon, and we are always looking at possible new funding streams. Iblvolunleers, Trustees andlor staff being overslrelched. In 2024 we are looking lo employ a new staff member to assist wth the adminislralion of the charity. Al the same lime, we are looking to Increase the volunteer help we receive, in the Offi and for events. IclFinan we are aayS looking at new fundraising opportunities. whilst our On-line giving - donations, merchandise sales. eBay sales are steadily growing, and we look lo continue lo expand these in 2024. As well as these measures we are also thinking strategically about our fundraising aims.
GREYHOUNDS IN NEED CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 statement of trustees responsibilitie5 The trustees are responsible for keeping sufficient accounting records that disdose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the ac¢ounls comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Public Benefit Statement Section 4 of The Charitiès Act 2011 requi$ charity trustees to comply wth their duly lo have due regard to public benefit guidance published by the Charity Commission in exercising their powers and duties. The trustees are very mindful of their obligations and have been referring lo the guidance regarding our aims and objectives and when planning future activities. In particular, we have considered how planned activities will contribute lo the aims and objectives we have set. Onb f of the board of trustees Christlne Good Trustee
GREYHOUNDS IN NEED CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREYHOUNDS IN NEED CIO I report on the accounts of the charity for the year ended 31 Dember 2023, which are set out on pages 5 to 12. Respective responsibilities of trustees and examiner The charity's Iruslees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 Ilhe 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination being a qualified member of ICAEW. 11 is my responsibility to.. examine the accounts under section 145 of the 2011 Act., lill lo follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act, and liiil to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented wth those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Iruslees concerning any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts present a 'lrue and fair view, and the report is limited to those matters sel out in the statement below. Indopgndent gxamlngrf$ statgment In connection wth my examination, no matter has come to my attention.. lal which gives me reasonable cause lo believe that in any material SpeCt the requirements." to keep accounting records in accordance with section 130 of the 2011 Act,. and {iil to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act", have not been met., or Ibl lo which, in my opinion, attention should be drawn in order lo enable a proper understanding of the accounts lo be reached. Trjc Paul Creasey Azels Audit Services Gladstone House 77-79 High Street Egham Surrey TW20 9HY United Kingdom 3 July 2024 Dated..
GREYHOUNDS IN NEED CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Designated funds funds Total 2023 Total 2022 Notes Incomin resources from enerated funds Donations and legacies Investment income 306,453 32.259 306,453 32,259 238,851 13,856 338,712 18.770 338,712 18,770 252.707 16,226 Incoming resourees from charitsble activities Total incoming resources 357,482 357,482 268,933 Resources ex ended Costs of generating funds Merchandise costs Advertising and fund raising costs 10,570 10,101 10,670 10,101 12,081 7,049 20.671 20,671 19,130 Net incoming resources available 336,811 336,811 249,803 Charitsble activities Direct aid Promotion Adminislrab"on Foreign Exchange differences 291,118 3,331 147,340 221 291,118 3,331 147,340 193,845 5,098 139,067 177,6791 Total charitable expenditure 441.767 441,767 260,331 Totsl resources expended 462,438 462,438 279,461 Net outgolng resou9$ 1104,9561 1104,9561 110,5281 Other recognlsed galns and losses Gainslllossesl on investment assets 39,934 39,934 147,9681 Net movement In fund$ 165.0221 165,0221 158,4961 Fund balances al 1 January 2023 S79,051 656,000 1,234,051 1,292,547 Fund balances at 31 December 2023 514.029 655,000 1.169,029 1,234,051
GREYHOUNDS IN NEED CIO BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Not&s Flxed assets Investments 330,167 290,232 Curr&nt assets stocks Debtors Cash at bank and in hand 6,703 10,215 867,496 6,528 134,407 813,384 10 884,414 954,319 Creditors: amounts falling due within one year 11 145.5521 110,5001 Net current assets 838,862 943,819 Totsl assets less currgnt Ilabllltles 1,169,029 1,234,051 Income funds Unrestricted funds.. Designated funds other charitable funds 12 665,000 514,029 655,000 579,051 1,169,029 1.234,051 nts approv by the Trustees on Chrfstine Ged Tru¥te•
GREYHOUNDS IN NEED CIO NOTES TO THEACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies 1.1 Basis of preparation Greyhounds in Need CIO is a charitable incorporated organisalion registered with the Charty Commission in England & Wales. The office address is 5A-80 High Street, Egham, Surrey, TVV20 9HE. The accounts have been prepared in accordance with applicable accounting standards, the Slalement of Recommended Practice, "Accounting and Reporting by Charities I"The Charities SORP FRS 1021, effective 1 January 2019 and the Charities Act 2011. The financial statements are ppared in sterling, which is the functional cUrncY of the company. Monetary amounts in these finanryal slalements are rounded lo the nearest £. Going Concern The re-homing and transport of galgos in Spain has increased compared lo 2022, and the education programme has also started to gain more momentum Compared lo the previous year. At the lime of approving the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable ftjture. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalements. 1.2 Incomlng resou0$ Items of income a recognised and included in the financi81 statements when all of the following criteria are mel". The Charity has enlillemenl to the funds.. any performan ¢ondilions attached to the ilemlsl of income have been mel or are ftjlly within the control of the charity., there is sufficient certainty that receipt of income is considered probable., and the amount can be measured reliably. Legacies For legaaes, entilement is taken al the earlier of.. the date on which the charity is aware that probate has been granted", the eslale has been finalised and nolificalion has been made by the execultsr{sl lo the Ttusl that a distribution will be made", or when a distribution is received from the estsle. Receipt of a legacy, in whole or in part, is only considered probably when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Other ¢harltabl& Income Income receivable by way of shop sales. mail order sales, donations and fundraising. and memberships is included in the financial statements when receivable and the amount can be measured reliably by the charity. Donated servlcos The value of services provided by volunteers has not been included in the finanaal slalements. Interest receivable Interest on funds held on deposit is included when re1v&ble and the amount can be measured reliably by the charity", this Is normal upon notification of the Interest paid or payable by the bank. 1.3 Resources expended Expenditure is recognised once there is a legal or constructive obligab'on to make a payment to a third party, il is probable that selllemenl will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings..
GREYHOUNDS IN NEED CIO NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl Expendlture on charltable actlvltles Expenditure on charitable activities Comprise those costs incurred by the charty in the delivery of its activities and setvices for its benefiaaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Govarnancg ¢0$ts Governance costs includes those costs associated with the constitutional and statutory requirernents of the charity and include the independent examiner's fees and costs linked to the strategic management of the charity. Irrecoverable VAT Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.4 Stock Stock is valued at the lower of cost and nel realisable value. 1.5 Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held al call with banks. other short-term liquid investments wth original malurilies of three months or less. 1.6 Trade and other recelvables Trade and other receivables are measured at transaction pri less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value ()f the future receipts discounted al the prevailing market rate of Interest. 1.7 Trade and other payablgs Trade and other payables a measured at their transaction price unless the arrangement conslilules a financing Iransadion in which case the transaction is measured al present value of future payments discounted al prevailing market rale of interest. Other financial liabilities are initially measured al fair value nel of their transaction costs. They are subsequently measured al amortised Cost using the effective interest method. 1.8 Judgernents and estirnates In the application of the company's accounting policies, the trustees a required to make judgements, eslimales 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 eslimales and underfying 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. Legacy incofne Management wll recognise legacy income once they have been notified of their enlillemenl of the income and when the amount can be accurately measured.
GREYHOUNDS IN NEED CIO NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies 2023 2022 Supporter income Legacies receivable 80.588 225.865 67,330 171,521 306.453 238,851 Supportgr In¢omg 2023 2022 Donations and fundraising Membership Gift aid Raffle 71,348 2.198 3.768 3,274 60,173 1,333 2,745 3,079 80,S88 67,330 Legacies Fifteen legacies or part legacies were received in 2023. In accordance with the accounting policy Dn legacies these are recDgnised as legacy income. Three further legacies of £6,328 were received post year end or are expected ID be received in Spring 2024 and have been recognised in these financial slalements. Investment income Investment income arising from money held in interest bearing deposit a¢counts lotsls £25,16512022.' £13,856). Incoming resources from Charitable activities 2023 2022 Merchandise sales 18.770 16,226 Merchandlse Sales The Greyhounds in need CIO also sells merchandise to SUPPDrters, mainly by mail order.
GREYHOUNDS IN NEED CIO NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Total resources expended 2023 2022 Costs of generating funds Merchandise costs Advertising and fund raising costs 10.570 10.101 12,081 7,049 20,871 19,130 Charltable a[vItIS Direct aid Promotion Administratlon 291.118 3.331 147,340 193,845 5,098 139,067 Foreign Exchange differences Support costs 1221 177,6791 441.767 260,331 462.438 279,461 Charitable activitie5 Dlrect ald 2023 2022 Transport of Galgos and Greyhounds in Europe Direct Aid Abroad Direct Aid- Spanish Vet Costs UK Galgos incl. Vet, Kennels and Transport UK Homing Costs Support for Shelters Education Projects 10,111 38.293 83.976 50,927 1.258 75,006 31,547 18,581 21,886 71,161 50,352 1,139 20,421 10,305 291,118 193.845 Promotion Promotion includes leaflets plus the balance of costs of the Greyhounds in Need CIO newsletter and websf(e. Admlnlstratlon 2023 2022 These include.. Indepedenl Examinerfs Fees HQ O¢wpan¢y Costs 1.195 29,340 1,195 28,350 10-
GREYHOUNDS IN NEED CIO NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees The only transactions ¥Mth the trustees relate lo the reimbursement of reasonable travel costs lo attend meetings held by the charity. No remuner8lion was paid lo the Trustees in the year12022". £nill. Employ99$ Numberofemployees The average monthly number of ernployees during the year was.. 2023 Numbar 2022 Number Employees 2023 2022 Intages and salaries Social security costs Other pension costs 56,686 1.189 1,670 56,095 713 1,550 59.$46 58,358 There were no employees whose annual remuneration was £60,000 or more. Fixed asset investments Market value al 1 January 2023 Change in value in the year 290,233 39,934 Markgt valug at 31 D9¢embgr 2023 330,167 10 Debtors 2023 2022 Trade debtors Prepayments and accrued income 1,999 8.216 2,317 132,090 10.215 134,407
GREYHOUNDS IN NEED CIO NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 CreditOTS'. amounts falling due within one year 2023 2022 Trade creditors Other creditors Accruals 36,933 2,239 6,380 2,618 1,502 6,380 45,552 10,500 12 Designated funds The income funds of the charity indude the folloring designated funds which have been sel aside out of unrestricted funds by the Iruslees for specific purposes.. Movement in funds Balance at 1 Increase in Decrease in Balance at 31 January funds fun(Is December 2023 2023 Education in Spain Shelters in Spain Crisis Reserve General Reserve 350,000 70,000 50,000 185,000 1100,0001 250,000 170,000 60,000 175.000 100,000 10,000 110,0001 655,000 110,000 1110,0001 655,000 The education programme in Spain relates lo the continuing development of our education websrte along with expanding support and grants given lo contacts abroad who are promots.ng the charity's project In their area. We continue lo support the new education centre in Barcelona. The Designated Fund for the shelters in Spain relates to the assistance in improving the condition of shelters in order to maximise the safely and security for the animals al the shelter. A Crisis Reserves is held to assist in any international crisis affecting greyhounds and greyhound cross breeds. The General Reserve is held for the running of the charity. 13 Related partles During the year the charity entered into transactions for veterinary services wlh Willett House Veterinary Surgeons, a practice co-owned by one of the trustees, Leigh Sobye tolalling £17.607 12022.. £14,731) and education expenditure lo Samantha Taylor, one of the Iruslees. tolalling £1,051 12022. £1,050). At the year end £1,85212022'. £Nill was owed lo Willel House Veterinary Surgeons. 12-