Charity Number 1180020 Company Number 11377785
Rickard Animals Company Limited
Report and Financial Statements
for the year ended
31 December 2021
Taylor Keeble LLP Chartered Accountants
RICKARD ANIMALS COMPANY LIMITED
Directors
Mr J T Dean Mrs J Baker Mrs V L Dean Mrs P J Anderson
Accountants
Taylor Keeble LLP 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
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RICKARD ANIMALS COMPANY LIMITED
Directors Report Year to 31 December 2021
The directors have pleasure in presenting their annual report and financial statements for the year ending 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Companies Act 2006, the Charities Act 2011 and 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 (FRS102) published on 16 July 2014
Reference and administration details
Reference and administration details are shown in the schedule of members of the board and professional advisers on page 1 of the accounts
Directors
The directors who served during the period were as follows: Mr J T Dean Mrs J Baker Mrs V L Dean Mrs P J Anderson
Structure and Governance and Management
Settlor
Miss Maria Susan Rickard ( deceased 21 December 2007)
Legal Status
Rickard Animals Company Limited company registration 11377785 is a registered charity, number 1180020. It was incorporated on 23 May 2018 and activity commenced 1 July 2018.
The company is limited by guarantee and has charitable status.The charity is a Public Benefit Entity.
Organisational structure
The day to day management of the charity is carried out by Mr J T Dean. The directors determine the general policy of the charity and make the major decisions.
Risk Management
The directors implemented a risk management system which enabled them to evaluate and monitor any risks brought to their attention and to allow them to mitigate any risks, which may otherwise prevent them from achieving their objectives, and to comply with SORP 2005.
Appointment of directors
There should be a minimum of three directors. When a vacancy becomes available potential directors will be interviewed and voted on at the next directors meeting.
Objectives and activities
The main object of the charity is that income, with the power to resort to capital, is paid to charities for the purpose of preventing cruelty to and relief of suffering among animals anywhere in the world. Income may be accumulated and invested in the name of the company, for such a period as is allowed by law.
The directors consider applications from charities, and seek out charities that fit the objectives of the trust, and make donations based upon their judgement of the merits of each case.
In the exercise of our powers to that end we have paid due regard to the published guidance from the Charity Commission on the operation of the Public Benefits requirement under the Charities Act 2011.
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RICKARD ANIMALS COMPANY LIMITED
Directors Report Year to 31 December 2021
Achievements and performance
The investment properties are rented out generating rental income for the period of £67,691. Repairs to properties amounted to £201 and management charges of £6,634
were incurred in respect of these properties.
Donations of £nil were paid during the period. Administration costs of £3,492 were incurred. The directors do not envisage any change in the coming year to the charity's investment or donation policies.
Financial Review
The net surplus for the period was £137,685.Total income amounted to £67,691. Total expenditure for the year amounted to £11,479. Gain on revaluation of investments amounted to £81,473.
Reserves and investment policy
At the end of the year the charity had reserves of £3,209,335. The policy is to regard the legacies received as part of the capital of the trust, and to distribute the income of the trust annually.
Plans for the future periods
To continue donating to charities for the purpose of preventing cruelty to and relief of suffering among animals anywhere in the world.
The charity has completed a joint venture with Rickard Cats Company Limited to develop a jointly owned property at Rickard Court known as Richard House being eight flats and two retail units.
The income from the flats generates £114,000 per annum and when a tenant is found for the commercial units the income achieved will increase by over £30,000 per annum before costs.
Rickard Animals Company Limited will be entitled to fifty percent of the rental income.
At the balance sheet date, each charity had incurred development costs relating to the venture of £1,423,445.
Planning permission to convert another property previously rented out,into six flats with a commercial unit had been submitted but withdrawn following issues with enviromental health . The property is currently on the market to let.
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RICKARD ANIMALS COMPANY LIMITED
Directors Report Year to 31 December 2021
Responsibilities of the directors
The charity's directors are responsible for preparing the Directors Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these accounts, the directors are required to:
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select suitable accounting policies and then apply them consistently
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observe the methods and principles in the Charities SORP,
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make judgements and estimates that are reasonable and prudent,
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts,
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charities ( Accounts and Reports) Regulations, and the Companies Act 2006. 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.
The directors are responsible for the maintenance and integrity of the charity and financial information included on the charities website in accordance with the legislation in the United Kingdom governing the preparation and dissemination of the financial statements.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on ………………..2022 and signed on its behalf.
…………………………………. Mrs P J Anderson
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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 2021, 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.
……………………………………………………….
…………………………………… 2022
Taylor Keeble LLP Chartered Accountants
Normans Corner 41 Church Lane Fulbourn Cambridgeshire CB21 5EP
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RICKARD ANIMALS COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES Year to 31 December 2021
| UNRESTRICTED FUNDS NOTES £ INCOME Income from investments 2 TOTAL INCOME AND ENDOWMENTS EXPENDITURE Expenditure on raising funds 3 7,987 Charitable activities 4 - Other 5 3,492 TOTAL EXPENDITURE NET GAINS/( LOSSES) ON INVESTMENTS 7 NET INCOME (EXPENDITURE) RECONCILIATION OF FUNDS FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
UNRESTRICTED FUNDS NOTES £ INCOME Income from investments 2 TOTAL INCOME AND ENDOWMENTS EXPENDITURE Expenditure on raising funds 3 7,987 Charitable activities 4 - Other 5 3,492 TOTAL EXPENDITURE NET GAINS/( LOSSES) ON INVESTMENTS 7 NET INCOME (EXPENDITURE) RECONCILIATION OF FUNDS FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
2021 £ 67,691 67,691 (11,479) 81,473 137,685 3,071,650 3,209,335 |
£ 9,493 4,000 4,967 |
2020 £ 69,335 |
|---|---|---|---|---|
| 69,335 (18,460) (181,050) |
||||
| (130,175) 3,201,825 |
||||
| 3,071,650 |
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RICKARD ANIMALS COMPANY LIMITED
BALANCE SHEET
as at 31 December 2021
| NOTES 2021 £ £ FIXED ASSETS Investments 8 1,710,923 CURRENT ASSETS Debtors 9 1,525,937 Cash at bank & in hand 5,068 1,531,005 CREDITORS: amounts falling due within one year Creditors and accruals 10 19,465 NET CURRENT ASSETS 1,511,540 CREDITORS: amounts falling due after more than one ye 11 13,128 NET ASSETS 3,209,335 FUNDS OF THE CHARITY Unrestricted funds 12 - Income reserve 2,929,922 - Revaluation reserve 279,413 3,209,335 UNRESTRICTED FUNDS |
UNRESTRICTED FUNDS 2020 £ £ 1,629,450 1,451,242 25,237 1,476,479 18,345 1,458,134 15,934 3,071,650 2,873,710 197,940 3,071,650 |
UNRESTRICTED FUNDS 2020 £ £ 1,629,450 1,451,242 25,237 1,476,479 18,345 1,458,134 15,934 3,071,650 2,873,710 197,940 3,071,650 |
|---|---|---|
| 1,476,479 | ||
| 18,345 | ||
| 3,071,650 | ||
| 2,873,710 197,940 |
||
| 3,071,650 |
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 ………………………. and are signed on their behalf by:
………………………………..
Mrs P J Anderson
Company registration 11377765
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RICKARD ANIMALS COMPANY LIMITED
Notes to the Financial Statements for the year ended 31 December 2021
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.
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RICKARD ANIMALS COMPANY LIMITED
Notes to the Financial Statements for the year ended 31 December 2021
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 | 2021 | 2020 | ||
| £ | £ | £ | ||
| Rental income | 67,691 | 67,691 | 69,335 | |
| 67,691 | 67,691 | 69,335 | ||
| Operating leases | ||||
| Total future minimum rents receivable are as | follows | |||
| £ | £ | |||
| Amounts due within one year | 1,500 | 47,390 | ||
| Amounts due one to five years | 0 | 0 |
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RICKARD ANIMALS COMPANY LIMITED
Notes to the Financial Statements for the year ended 31 December 2021
| 3 | Costs of raising funds | Unrestricted | Unrestricted | Total Funds | Total Funds |
|---|---|---|---|---|---|
| funds | 2021 | 2020 | |||
| £ | £ | £ | |||
| Management charges | 6,634 | 6,634 | 6,961 | ||
| Repairs and maintenance | 201 | 201 | 1,639 | ||
| Insurance | 1,152 | 1,152 | 893 | ||
| 7,987 | 7,987 | 9,493 | |||
| 4 | Costs of Charitable Activities by Activity type | ||||
| Grant Funding | Total Funds | Total Funds | |||
| Activities | 2021 | 2020 | |||
| £ | £ | £ | |||
| Donations payable | - | - | 4,000 | ||
| 5 | Other costs | Unrestricted | Total Funds | Total Funds | |
| funds | 2021 | 2020 | |||
| £ | £ | £ | |||
| Accountancy fees | 3,240 | 3,240 | 3,780 | ||
| Management charges | - | - | 274 | ||
| Legal and professional fees | - | - | 900 | ||
| Interest payable | 239 | 239 | - | ||
| Sundry expenses | 13 | 13 | 13 | ||
| 3,492 | 3,492 | 4,967 | |||
| 6 | Net Incoming resources for the year | 2021 | 2020 | ||
| £ | £ | ||||
| Independent examiners fees | 3,240 | 3,780 | |||
| **7 ** | Gains/(losses) on investment assets | Unrestricted | Total Funds | Total Funds | |
| funds | 2021 | 2020 | |||
| £ | £ | £ | |||
| Gains/( losses) on sale of investment assets | - | - | |||
| Unrealised gain on revaluation of investment | |||||
| properties | 81,473 | 81,473 | (181,050) | ||
| 81,473 | 81,473 | (181,050) |
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RICKARD ANIMALS COMPANY LIMITED
Notes to the Financial Statements for the year ended 31 December 2021
| 8 | Investments | 2021 | 2020 | |
|---|---|---|---|---|
| £ | £ | |||
| Market value as at 1 January 2021 | 1,629,450 | 1,810,500 | ||
| Acquisitions at cost or market value | - | - | ||
| Disposals at opening book value | - | - | ||
| Net (losses) /gains on revaluations in the period | 81,473 | (181,050) | ||
| Market value as at 31 December 2021 | 1,710,923 | 1,629,450 | ||
| Historical cost as at 31 December 2021 | 1,431,510 | 1,431,510 | ||
| Revaluation reserve as at 31 December 2021 | 279,413 | 197,940 | ||
| 1,710,923 | 1,629,450 | |||
| Revaluation reserve as at I January 2021 | 197,940 | 378,990 | ||
| Release of revaluation reserve on disposal of shares | - | - | ||
| Release of revaluation reserve on disposal of property | - | - | ||
| (Loss) / gain on revaluation of investment assets | 81,473 | (181,050) | ||
| 279,413 | 197,940 | |||
| Analysis of Investments at 31 December 2021 between funds | ||||
| Total Funds | Total Funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Freehold investment property | 1,710,923 | 1,629,450 | ||
| 1,710,923 | 1,629,450 | |||
| 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 | 2,021 | 2020 | |
| £ | £ | |||
| Trade debtors | 16,315 | 16,295 | ||
| Rickard Cats Company Limited | 86,177 | 51,714 | ||
| Development costs - Rickard Court | 1,423,445 | 1,383,233 | ||
| 1,525,937 | 1,451,242 | |||
| **10 ** | Creditors: amounts falling due within one year | |||
| Bounce back loan | 3,833 | 2,066 | ||
| Accruals | 4,740 | 5,876 | ||
| Deferred income - rent paid in advance | 10,892 | 10,403 | ||
| 19,465 | 18,345 | |||
| **11 ** | Creditors: amounts falling due in more than one year | |||
| Bounce back loan | 13,128 | 15,934 | ||
| 13,128 | 15,934 |
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RICKARD ANIMALS COMPANY LIMITED
Notes to the Financial Statements for the year ended 31 December 2021
| 12 Unrestricted income funds Balance at I January 2021 Incoming resources Outgoing resources Balance at 31 December 2021 Gains and Losses |
2021 3,071,650 67,691 (11,479) 81,473 3,209,335 |
2020 3,201,825 69,335 (18,460) (181,050) |
|---|---|---|
| 3,071,650 |
13 Analysis of net assets between funds
| Income reserve Revaluation reserve Total funds |
Investments £ 1,431,510 279,413 1,710,923 |
Net current assets £ 1,511,540 - 1,511,540 |
Creditors Total Due More One Year £ £ 13,128 2,929,922 - 279,413 |
|---|---|---|---|
| 13,128 3,209,335 |
14 Related parties
During the year £6,631 ( 2020 - £7,109) 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 £1,423,445 (2019 - £1,383,233).
At the year end £86,177 (2020 - £51,714) 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
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