REGISTERED COMPANY NUMBER: 11377785 (England and Wales) REGISTERED CHARITY NUMBER: 1180020
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
RICKARD ANIMALS COMPANY LIMITED
Thompson Taraz Rand Ltd Chartered Accountants 10 Jesus Lane Cambridge Cambridgeshire CB5 8BA
RICKARD ANIMALS COMPANY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
RICKARD ANIMALS COMPANY LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11377785 (England and Wales)
Registered Charity number 1180020
Registered office
Fox Hill Lodge Great Shelford Cambridge Cambridgeshire CB22 5AN
Trustees
Mrs P J Anderson None J T Dean Mrs V L Dean J Baker
Company Secretary
Independent Examiner Thompson Taraz Rand Ltd Chartered Accountants 10 Jesus Lane Cambridge Cambridgeshire CB5 8BA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Mrs P J Anderson - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RICKARD ANIMALS COMPANY LIMITED
Independent examiner's report to the trustees of Rickard Animals Company Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Andrew Rand The Institute of Chartered Accountants in England and Wales
Thompson Taraz Rand Ltd Chartered Accountants 10 Jesus Lane Cambridge Cambridgeshire CB5 8BA
Date: .............................................
Page 2
RICKARD ANIMALS COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 33,390 8,987 20,279 29,266 4,124 3,219,412 3,223,536 |
2022 Total funds £ 36,597 6,544 19,976 26,520 10,077 3,209,335 3,219,412 |
|---|---|---|
The notes form part of these financial statements
Page 3
RICKARD ANIMALS COMPANY LIMITED
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 1,710,923 1,653,695 6,973 1,660,668 (135,361) 1,525,307 3,236,230 (12,694) 3,223,536 3,223,536 3,223,536 |
2022 Total funds £ 1,710,923 1,528,593 985 1,529,578 (7,961) 1,521,617 3,232,540 (13,128) 3,219,412 3,219,412 3,219,412 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
RICKARD ANIMALS COMPANY LIMITED
BALANCE SHEET - continued 31 DECEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
P J Anderson - Trustee
The notes form part of these financial statements
Page 5
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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.
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.
Value added tax
continued...
Page 6
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
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.
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 from 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 a 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
3.
| Rents received RAISING FUNDS Investment management costs Portfolio management Insurance Property repairs |
2023 £ 33,390 2023 £ 4,018 2,678 2,291 8,987 |
2022 £ 36,597 2022 £ 3,583 2,263 698 6,544 |
|---|---|---|
continued...
Page 7
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 36,597 6,544 19,976 26,520 10,077 3,209,335 3,219,412 |
|---|---|
continued...
Page 8
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
6. INVESTMENT PROPERTY
£
| FAIR VALUE At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Other loans (see note 10) Trade creditors Accrued expenses 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 10) |
2023 £ 2,409 1,651,286 1,653,695 2023 £ 2,620 128,853 1,944 1,944 135,361 2023 £ 12,694 |
1,710,923 1,710,923 1,710,923 2022 £ 307 1,528,286 1,528,593 2022 £ 3,221 - - 4,740 7,961 2022 £ 13,128 |
|---|---|---|
continued...
Page 9
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
10. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank loans Other loans Amounts falling between one and two years: Bank loans - 1-2 years 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1/1/23 £ 3,219,412 3,219,412 Incoming resources £ 33,390 33,390 |
2023 £ 2,620 128,853 131,473 12,694 Net movement in funds £ 4,124 4,124 Resources expended £ (29,266) (29,266) |
2022 £ 3,221 - 3,221 13,128 At 31/12/23 £ 3,223,536 3,223,536 Movement in funds £ 4,124 4,124 |
|---|---|---|---|
continued...
Page 10
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1/1/22 in funds £ £ Unrestricted funds General fund 3,209,335 10,077 TOTAL FUNDS 3,209,335 10,077 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 36,597 (26,520) TOTAL FUNDS 36,597 (26,520) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1/1/22 in funds £ £ Unrestricted funds General fund 3,209,335 14,201 TOTAL FUNDS 3,209,335 14,201 |
At 31/12/22 £ 3,219,412 3,219,412 Movement in funds £ 10,077 10,077 At 31/12/23 £ 3,223,536 3,223,536 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 69,987 (55,786) |
14,201 |
| TOTAL FUNDS | 69,987 (55,786) |
14,201 |
continued...
Page 11
RICKARD ANIMALS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 12
RICKARD ANIMALS COMPANY LIMITED
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 31 DECEMBER 2023 | ||
| 2023 2022 |
||
| £ £ |
||
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 33,390 36,597 |
|
| Total incoming resources | 33,390 36,597 |
|
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 4,018 3,583 |
|
| Insurance | 2,678 2,263 |
|
| Property repairs | 2,291 698 |
|
| Support costs | 8,987 6,544 |
|
| Management | ||
| Rates and water | 7,196 7,160 |
|
| Legal fees | 1,800 9,285 |
|
| Advertising | - 32 |
|
| Sundries | 257 239 |
|
| Accountancy | 1,709 3,260 |
|
| Finance | 10,962 19,976 |
|
| Broker charges | 2,081 - |
|
| Bridging Loan interest | 7,236 - |
|
| 9,317 - |
||
| Total resources expended | 29,266 26,520 |
|
| Net income | 4,124 10,077 |
|
This page does not form part of the statutory financial statements
Page 13