Charity Number 1180020 Company Number 11377785
Rickard Animals Company Limited
Report and Financial Statements
for the year ended
31 December 2020
Alan S Kindred
Chartered Accountants
## **RICKARD ANIMALS COMPANY LIMITED**
## **Directors**
Mr J T Dean Mrs J Baker Mrs V L Dean Mrs P J Anderson
## **Accountants**
Alan S Kindred Chartered Accountants Normans Corner 41 Church Lane Fulbourn Cambridge CB21 5EP
## **Bankers**
NatWest Bank St Andrew's Street Branch 56 St Andrew's Street Cambridge CB2 3DA
## **Registered office**
Fox Hill Lodge Great Shelford Cambridge CB22 5AN
## **Charity number**
1180020
## **Company number**
11377785
1
## **RICKARD ANIMALS COMPANY LIMITED**
## **Independent examiner’s report to the trustees of Rickard Animals Company Limited**
We report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages six to twelve.
## **Respective responsibilities of directors and examiner**
The charity’s trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the Companies Act 2006.
## It is our responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act;
satisfy ourselves that the accounts are not required to be audited under Part 16 of the 2006 Act to state whether particular matters have come to our attention.
## **Basis of independent examiner’s report**
Our 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 with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters as set out in the statement below.
## **Independent examiner’s statement**
The charity does not require an audit in accordance with part 16 of the Companies Act 2006. In connection with our examination, no matter has come to our attention
which gives us reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records and comply with the accounting requirements under section 396 of the Companies Act 2006 other than any requirments that the accounts give a 'true and fair' view ;and the accounts have been prepared in accordance with the Charities SORP (FRS 102) have been met.
……………………………………………………….
24 September 2021
Alan S Kindred Chartered Accountants
Normans Corner 41 Church Lane Fulbourn Cambridgeshire CB21 5EP
5
## **RICKARD ANIMALS COMPANY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES Year to 31 December 2020**
|**UNRESTRICTED FUNDS**
**NOTES**
**£**
**INCOME**
Income from investments
2
**TOTAL INCOME AND ENDOWMENTS**
**EXPENDITURE**
Expenditure on raising funds
3
9,493
Charitable activities
4
4,000
Other
5
4,967
**TOTAL EXPENDITURE**
**NET GAINS/( LOSSES) ON INVESTMENTS**
7
**NET INCOME (EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**FUNDS BOUGHT FORWARD**
**TOTAL FUNDS CARRIED FORWARD**|**UNRESTRICTED FUNDS**
**NOTES**
**£**
**INCOME**
Income from investments
2
**TOTAL INCOME AND ENDOWMENTS**
**EXPENDITURE**
Expenditure on raising funds
3
9,493
Charitable activities
4
4,000
Other
5
4,967
**TOTAL EXPENDITURE**
**NET GAINS/( LOSSES) ON INVESTMENTS**
7
**NET INCOME (EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**FUNDS BOUGHT FORWARD**
**TOTAL FUNDS CARRIED FORWARD**|**2020**
**£**
69,335
69,335
(18,460)
(181,050)
(130,175)
3,201,825
3,071,650|**£**
13,531
400
7,313|**2019**
**£**
75,826|
|---|---|---|---|---|
|||||75,826
(21,244)
47,555|
||||||
|||||102,137
3,099,688|
|||||3,201,825|
6
## **RICKARD ANIMALS COMPANY LIMITED**
## **BALANCE SHEET as at 31 December 2020**
|**NOTES**
**2020**
**£**
**£**
**FIXED ASSETS**
Investments
8
1,629,450
**CURRENT ASSETS**
Debtors
9
1,451,242
Cash at bank & in hand
25,237
1,476,479
**CREDITORS: amounts falling due**
**within one year**
Creditors and accruals
10
18,345
**NET CURRENT ASSETS**
1,458,134
**CREDITORS: amounts falling due**
**after more than one ye**
11
15,934
**NET ASSETS**
3,071,650
**FUNDS OF THE CHARITY**
Unrestricted funds
12
- Income reserve
2,873,710
- Revaluation reserve
197,940
3,071,650
**UNRESTRICTED FUNDS**|**UNRESTRICTED FUNDS**
**2019**
**£**
**£**
1,810,500
1,406,374
1,201
1,407,575
16,250
1,391,325
-
3,201,825
2,822,835
378,990
3,201,825|**UNRESTRICTED FUNDS**
**2019**
**£**
**£**
1,810,500
1,406,374
1,201
1,407,575
16,250
1,391,325
-
3,201,825
2,822,835
378,990
3,201,825|
|---|---|---|
||1,407,575||
||16,250||
||||
|||3,201,825|
|||2,822,835
378,990|
|||3,201,825|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their resposibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
## **These accounts were approved by the directors on the 24 September 2021 and are signed on their behalf by:**
………………………………..
Mr J T Dean
## **Company registration 11377765**
7
## **RICKARD ANIMALS COMPANY LIMITED**
## **Notes to the Financial Statements for the year ended 31 December 2020**
## **1 Accounting policies**
## **Basis of preparation**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and Companies Act 2006.
In preparing these accounts, the diectors have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatements were required. In accordance with the requirements of FRS 102 a reconciliation of opening balances and net income/ (expenditure) for the period is provided with the net income/ (expenditure) under previous GAAP adjusted for the presentation of investment gains/ (losses) as a component of reported income.
The accounts have been prepared to give a true and fair view and have departed from the Charities ( Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. The departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
There are no material uncertainties about the charities ability to continue in operation.
## **Donations**
These are accounted for when received.
## **Legacies**
Entitlement is the earlier of the charity receiving the final estate accounts or the legacy being received.
## **Investment properties**
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is taken to the Statement of Financial Activities. Depreciation is not provided on investment property.
## **Investments**
Investments in UK equities and fixed interest loan stock are included in the accounts at market value. Any unrealised and realised gains and losses on these investments during the period are taken to the Statement of Financial Activities as they arise.
8
## **RICKARD ANIMALS COMPANY LIMITED**
## **Notes to the Financial Statements for the year ended 31 December 2020**
## **1 Accounting policies continued**
## **Value added tax**
The charity is classed as exempt for the purpose of value added tax, it is unable to reclaim the value added tax which it suffers on its purchases. Expenditure in these accounts is therefore shown inclusive of value added tax.
## **Taxation**
No provision has been made for corporation tax as the charity is exempt.
## **Trustee expenses**
No trustee ( director) expenses have been incurred.
## **Employee expenses**
The Charity does not have any employees
## **Debtors**
Trade and other debtors are recognised as the Charity is entitled to receive the funds.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less form the date of acquisition or opening of the deposit.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
|**2**|**Investment Income**|**Unrestricted**|**Total Funds**|**Total Funds**|
|---|---|---|---|---|
|||**funds**|**2020**|**2019**|
|||£|£|£|
||Rental income|69,335|69,335|67,424|
||Dividends received|-|-|8,402|
|||69,335|69,335|75,826|
||Operating leases||||
||Total future minimum rents receivable are as||follows||
||||£|£|
||Amounts due within one year||47,390|68,140|
||Amounts due one to five years||0|20,750|
9
## **RICKARD ANIMALS COMPANY LIMITED**
## **Notes to the Financial Statements for the year ended 31 December 2020**
|**3**|**Costs of raising funds**|**Unrestricted**|**Unrestricted**|**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|
||||**funds**|**2020**|**2019**|
||||£|£|£|
||Management charges||6,961|6,961|6,990|
||Legal and professional fees||-|-|4,284|
||Repairs and maintenance||1,639|1,639|1,378|
||Insurance||893|893|1,163|
||Light and heat , rates||-|-|(284)|
||||9,493|9,493|13,531|
|**4**|**Costs of Charitable Activities by Activity type**|||||
|||**Grant Funding**||**Total Funds**|**Total Funds**|
||||**Activities**|**2020**|**2019**|
||||£|£|£|
||Donations payable||4,000|4,000|400|
|**5**|**Other costs**|**Unrestricted**||**Total Funds**|**Total Funds**|
||||**funds**|**2020**|**2019**|
||||£|£|£|
||Accountancy fees||3,780|3,780|2,700|
||Management charges||274|274|4,545|
||Legal and professional fees||900|900|-|
||Bank charges||-|-|30|
||Sundry expenses||13|13|38|
||||4,967|4,967|7,313|
|**6**|**Net Incoming resources for the year**||**2020**||**2019**|
||||£||£|
||Independent examiners fees||3,780||2,700|
|**7 **|**Gains/(losses) on investment assets**|**Unrestricted**||**Total Funds**|**Total Funds**|
||||**funds**|**2020**|**2019**|
||||£|£|£|
||Gains/( losses) on sale of investment assets||-|-|(59,945)|
||Unrealised gains/(losses) on revaluation of|||||
||investment properties||(181,050)|(181,050)|107,500|
||||(181,050)|(181,050)|47,555|
10
## **RICKARD ANIMALS COMPANY LIMITED**
## **Notes to the Financial Statements for the year ended 31 December 2020**
|**8**|**Investments**|**2020**||**2019**|
|---|---|---|---|---|
|||£||£|
||Market value as at 1 January 2020|1,810,500|2,729,896||
||Acquisitions at cost or market value|-||-|
||Disposals at opening book value|-|(1,026,896)||
||Net (losses) /gains on revaluations in the period|(181,050)||107,500|
||Market value as at 31 December 2020|1,629,450|1,810,500||
||Historical cost as at 31 December 2020|1,431,510|1,431,510||
||Revaluation reserve as at 31 December 2020|197,940||378,990|
|||1,629,450|1,810,500||
||Revaluation reserve as at I January 2020|378,990||552,080|
||Release of revaluation reserve on disposal of shares|-||(5,590)|
||Release of revaluation reserve on disposal of property|-|(275,000)||
||(Loss) / gain on revaluation of investment assets|(181,050)||107,500|
|||197,940||378,990|
||Analysis of Investments at 31 December 2020 between funds||||
|||**Total Funds**|**Total Funds**||
|||**2020**||**2019**|
|||£||£|
||Freehold investment property|1,629,450|1,810,500||
|||1,629,450|1,810,500||
||The investment properties were valued by Mr A J Dean, a Chartered Surveyor, of H W Dean & Son||||
||Limited. Mr A J Dean is the son of Mr J T Dean a director of the charity.||||
|**9**|**Debtors**|**2,020**||**2019**|
|||**£**||**£**|
||Trade debtors|16,295||17,052|
||Rickard Cats Company Limited|51,714||34,214|
||Development costs - Rickard Court|1,383,233|1,355,108||
|||1,451,242|1,406,374||
|**10 **|**Creditors: amounts falling due within one year**||||
||Bounce back loan|2,066||-|
||Accruals|5,876||5,382|
||Deferred income - rent paid in advance|10,403||10,868|
|||18,345||16,250|
|**11 **|**Creditors: amounts falling due in more than one year**||||
||Bounce back loan|15,934||-|
|||15,934||-|
11
## **RICKARD ANIMALS COMPANY LIMITED**
## **Notes to the Financial Statements for the year ended 31 December 2020**
|**12 Unrestricted income funds**
Balance at I January 2020
Incoming resources
Outgoing resources
Balance at 31 December 2020
Gains and Losses|**2020**
3,201,825
69,335
(18,460)
(181,050)
3,071,650|**2019**
3,099,688
75,826
(21,244)
47,555|
|---|---|---|
|||3,201,825|
|**13 Analysis of net assets between funds**
**Investments**
**£**
Income reserve
1,431,510
Revaluation reserve
197,940
Total funds
1,629,450|**Net current**
**assets**
**£**
1,458,134
-
1,458,134|**Creditors**
**Total**
**Due More**
**One Year**
**£**
**£**
15,934
2,873,710
-
197,940|
|---|---|---|
|||15,934
3,071,650|
## **14 Related parties**
During the year £7,109 ( 2019 - £6,844) in respect of management charges was paid to H W Dean and Son Ltd.
Mr A J Dean, the son of Mr J T Dean, a director, is the sole director of H W Dean & Son Ltd.
The Directors (trustees) have not been paid any remuneration or expenses during the year.
The charity has entered into a joint venture with Rickard Cats Company Limited, a charity with the same directors, to develop a jointly owned property at Rickard Court. At the balance sheet date each charity had incurred development costs relating to the venture of £1,383,233 (2019 - £1,355,108).
At the year end £51,714 (2019 - £34,214) was owed by Rickard Cats Company Limited to Rickard Animals Company Limited.
## **14 Other information**
Rickard Animals Company Limited is a private company limited by guarantee in England. The Directors equally provide guarantee. Its registered office is:
Fox Hill Lodge Great Shelford Cambridge CB22 5AN
12