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2021-03-31-accounts

St Francis Dogs Home

Annual Report and Financial Statements period from 15 October 2019 to 31 March 2021

Charity registration number: 1185816

St Francis Dogs Home

Contents

Trustees' Report 1 to 8
Reference and Administrative Details 1
Statement of Trustees' Responsibilities 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14 to 22

St Francis Dogs Home

Trustees' Report

Reference and Administrative Details

Charity Registration Number 1185816 Principal Office Trevelgue Road Porth Newquay TR7 3LY Trustees Tracey Collins (Chair) Kirsty Balcombe Anthony Kinder ACA (Treasurer) Michelle Barley Richard Rabey Jennifer Gough Helen McCartan (appointed 27 August 2021) Miles Ashworth (appointed 17 September 2021) Lucy Houghton (appointed 22 September 2021) Ellis Pyntz (appointed 24 September 2021) Solicitors Womble Bond Dickinson St Ann's Wharf 112 Quayside Newcastle Upon Tyne Tyne and Wear NE1 3DX Bankers Lloyds Bank Plc 6 Chester Road Chesterton Place Newquay Cornwall TR7 2RU Independent Examiner Francis Clark LLP Lowin House Tregolls Rd Truro TR1 2NA

Page 1

St Francis Dogs Home Trustees, Report Chairfs Report In many ways 2020-21 has been the year when the future of our charity has taken shape. We are transforming ev8ry aspect to eq￿lp the Charity to be a leading dog rescue in the years ahead. In my previous Chair's report. for 2019-2020, 1 highlighted the Trust89$' rolo in leading the Charity in Fts transformation into a dog rescue Charity fit to thrive in the 21st Century. That is the continulng theme this year. The old Charity, St Franclg Hornè for Animals, that sèrved us well in the 20th century and early yea¥s of this century, was based on an OK4 structure and constitution. In October 2019 the new Charity, St Francis Dogs Home. was r8gisl6red and the n8t assets and everything else has now been transferred across. Trustees are now pl8asod lo issue this docum8nt, the Trustees, Report and A¢￿Unts for the new Charity for the period 15 October 2019 to 31 March 2021. That completès just one element in the transfoimation of our Charity. Allied to this. wè are delighted that the Truslge Board has now been joined by 4 talented and capabl8 new members who bring a variety of skill$ to augment the sknlls already in the team. The p85t year has seen the Trustees focused on developing plans for th8 demolltlon and rebuilding of the dog rescue centre on our sit? in Trevelgue Road, Porth. Our architect, Jonathan Clark of Velertnary A￿hIteCt$, who has very si9nificant experience of animal welfare architecture, espeaally for dogs, has prepared plans which have undergone a series of iterations. We then submitted a 'Pre-application' approach to the CouncÉl who suggested a small number of additional surveys Shou￿ be undertaken. The completed plans along ￿th a significant amount of sUppO￿n9 information were then subfflitted to Comwall Council. A8 of writing this report the authority has recently approved our plans, subject to some condi*ons, so we will be moving forward with the next de18iled design, cost and build phases. Trustees have kept in touch with supporter5 along the way and have rèceived much support for the transformation project. Uwsates have been posted on social media and our website and we hosted an open event to show the plans to interested parties. This gave people an opportunty to engage in more detail and ask questions lo fulty understand what the new centre would look like and how it would operate. In addition, the event facilitsted a wide ranging discussion on the imF)Ortance of this work and the fulijre of the charity in areas such a5 fundraising, education, support for dog owners, dog behaviour and tFends in the sector. The welfare of our dogs is of central importance and is built into every aspect of the design and our other plans. We are also aware of our responsibilities for the heath and safety of everyone invofved, and the environmental impact of wh8t we do, and these are 81so guidlng factors on our work. The years ahead will be exciting. I woukl Ilke to thank the Board of Truslees and our supporters near and far for their part in this aOUTney to help dogs in the future. Tracey C Chair of the Board of Ttustees Pagè 2

St Francis Dogs Home

Trustees' Report

Structure, governance and management

Nature of governing document

The change of structure has been completed, from an old association to a modern Charitable Incorporated Organisation.

The old Charity, St Francis Home for Animals, was an unincorporated association governed by a Constitution dated 18 June 1955 and a Charity registered with the Charity Commission 205823. That Charity is now dormant, and the new Charity, St Francis Dogs Home, Charity number 1185816, has taken over the assets and all other aspects of our work. The same Board of Trustees are taking forward the new Charity, of which these are the first Trustees’ Report and Accounts. We are grateful to The Charity Commission and our lawyers for guiding us through this process.

The overall responsibility for the Charity and decision making is undertaken by the Board of Trustees. The Trustees have kept, and will continue to keep, the structure under review, as required by good practice and Charity Commission guidance.

Recruitment and appointment of trustees

Trustees are recruited through a mixture of networking and advertising. All potential new Trustees are asked to submit a CV and other details. They are interviewed by the board who assess their suitability against a role description and any skills identified as needed on the board. Since the last report we have welcomed four new Trustees.

Induction and training of trustees

All Trustees are given the Charity Commission’s comprehensive document called ‘The Essential Trustee’. We impress on them to read this fully before they decide to take on the role. We discuss the role of Trustee at length. Our Trustees all subscribe to our Code of Conduct for Trustees. We have also run an ‘Introduction to Trusteeship’ induction course for new Trustees. During the year Trustees have learned about other aspects of Trusteeship and the Charity Commission’s requirements and guidance.

Arrangements for setting key management personnel remuneration

At the time of writing the Charity has no staff, but we are planning for recruitment in the future. Key management personnel currently comprise the Trustees. No Trustee is paid remuneration. Staff salaries will be set in relation to market salaries in the area and affordability after discussion and by decision of the Board of Trustees.

Page 3

St Francis Dogs Home

Trustees' Report

Organisational structure

The Charity has a centre at Porth, Newquay. Most of the buildings on that site are beyond economic repair and offer poor welfare to the dogs we exist to care for. We therefore decided, in early 2020, to close the site temporarily. We are part-way through a project that will see all except the Training Barn and six most recent kennels demolished and replaced by state-of-the-art modern buildings offering high standards of dog welfare. We will then resume operations, and our expected opening date is during 2023. Our focus is to help unwanted dogs, very many of whom have behavioural problems which mean that their owners can no longer keep them. Our aim, through taking in dogs to kennels and to foster homes, and offering behavioural support to owners and education at schools, is to develop the dogs to become pets that can enjoy and be enjoyed in domestic homes. We will focus on professional behavioural support for dogs and owners and, in cases where it is appropriate, will give support to owners who wish to retain their dogs rather than relinquish them. We have established new relationships of collaboration with other dog rescues and will continue to work with these partners to achieve the best for all dogs in Cornwall and beyond.

The Trustees outsource our payroll and bookkeeping to independent local businesses. Trustees also engage specialist advice, where needed, in line with Charity Commission guidance.

Major risks and management of those risks

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to manage these risks. Any risks faced are discussed at Trustees’ meetings. When it is considered necessary, professional advice is taken to assess and manage such risks as may require specialist attention and advice. Examples in recent years include Health and Safety risks, dog welfare and operations, governance, legal, HR and building-related risks.

Page 4

St Francis Dogs Home

Trustees' Report

Objectives and activities

Objects and aims

The object of the Charity is to provide shelter and care for stray, abandoned and other unwanted dogs; to return them to their owners where possible; to care for and rehabilitate the others before finding them suitable, and loving new permanent homes. in addition to seek to instil responsible dog ownership among the community through the example of good animal welfare practice, and education.

Prior to the introduction of compulsory microchipping the Charity saw a significant proportion of dogs coming through Cornwall Council dog wardens, but since 2016/17 this source has reduced radically and the main source of dogs recently was from owners who relinquished their dogs.

In the Trustees’ previous reports in the unincorporated charity we wrote about developing plans for the buildings, finances, quality, safety and efficiency, mentioning in particular:

• Budgetary control against a background of constantly rising costs.

• The loss of the boarding kennels which reduced our income.

• Our focus on significant improvement regarding animal welfare and the health and safety of dogs and people, and our action to reduce numbers of dogs on site.

• Significant issues of drainage flow and site infrastructure on our difficult shaped site.

Dogs in the Charity’s care have been nearly all housed in kennels which, when they were constructed, met any relevant guidelines. Some have been housed with fosterers. However, the Charity keeps the standards of its accommodation under review and decided in 2017/18 that its boarding kennels no longer met acceptable or new legislative standards, and so closed them. During 2018 and 2019 it became increasingly clear that the rescue kennels also needed rebuilding and in early 2020 these were closed also.

This would both conserve our funds needed for the rebuild and allow time to plan for the future of the Charity. Many of our supporters, including active on-site volunteers, stepped back and yet stayed with us in their support during this period.

In the period after the temporary closure began the Charity continued to meet its welfare and rehoming objectives by taking back St Francis dogs which could no longer stay in their homes, and arranging for rehoming through partnership working with other rescue charities.

St Francis also met its charitable objectives by granting financial support to partner dog rescue and rehoming charities in need, especially during the crisis caused by the pandemic and associated government regulations.

This has been a period of consolidation and thinking through all options. We have looked at plans to meet the needs of dogs in the future and how best to meet the challenges in the short and medium term as well. This period has enabled us to stabilise the previous outflow of funds so that we could focus our finances on helping dogs through and after the transformation period.

Due to the timing described, our operations were spared the crisis caused by the pandemic, and related regulations that started from late March 2020 although our other activities (planning, etc) have been impacted.

Page 5

St Francis Dogs Home

Trustees' Report

LIST GRANTS:

Feedback from these dog rescues has not only shown the gratitude, but also the essential role that St Francis played in supporting dog rescue during unprecedented difficult times when rescue centres were at risk of running out of funds.

We have made a point of keeping in contact with our supporters, both through our vibrant and busy Facebook page, and through periodic posts on our website. We have also continued to help dog owners who needed our advice about their dogs and their care and welfare.

Many of our supporters joined us in our virtual dog show in April 2020 which was great fun for everyone. It showed off the wonderful dogs who are our companions, many from St Francis as well as others from elsewhere.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

All the net assets of St Francis Home for Animals totalling £1,131,791 were transferred to St Francis Dogs Home on 1st April 2020.

At the end of this period unrestricted reserves stood at £1,463,315 which is considered an adequate level to cover running costs for the foreseeable future and overall represents an increase of £331,524 on the reserves transferred from St Francis Dogs Home. The reserves include an investment portfolio valued at £697,333 which is held to produce income and aid in future development. During the year this investment portfolio was reduced by disposals of £311,995 to increase our cash reserves to £421,514 in line with our plans to designate an initial £400,000 for redeveloping the site. The investment portfolio made unrealised gains of £140,261 and realised gains on disposals of £47,685 during the year reflecting the recovery in the market since March 2020 along with the low/medium risk investment mandate. The reserves also include a property which has been revalued at £260,000 (from £167,500) by the Chartered Surveyors Dowling Dodd. Overall, gains from the investment portfolio and property totalled £280,447.

Page 6

St Francis Dogs Home

Trustees' Report

Excluding the gains from the investment portfolio and property, and the transfer of assets from St Francis Home for Animals, the overall surplus for the year was £51,077. The overall operating expenses of £126,760 are more than offset by income generated from the investment portfolio dividends, property rental income, legacies, and donations. This reflects our strategy to keep operating expenses to a minimum and maximise income during this year while the site is closed.

The main future uncertainty relates to the ability to raise funds in the region of £500k towards the build. The investment property at Quintrell Downs, Newquay has been placed for sale at £260k to contribute towards the required funding. The remaining funds required are expected to be obtained via fundraising and the option of further drawings from the investment portfolio which stands at a value of £697,333 also remains open.

Policy on reserves

The Trustees consider it is prudent to hold the Charity’s reserves against its running costs and considers that it would be reckless to deliberately deplete resources to less than one year’s trading funds. This policy also recognises that a percentage of these reserves must be held available for maintenance and renewal of fixed assets. This policy is reviewed annually by the Board of Trustees.

The Reserves Policy takes into full account the amount and nature of the income required to fulfil the Charity’s objectives. The income from rehoming, fundraising and investments cover substantially less then the costs of running the Charity, some money does come from legacies but by their nature the amount is variable. The income is affected by a number of factors including economic factors and donations, rehoming and investment returns can suffer. Last year the Charity lost one of its income streams, the ability to Board dogs, which has severely affected income.

The Trustees also ensure the Charity maintains some readily accessible cash reserves to cover the running costs of the Charity. These reserves are monitored at Trustee Board meetings.

Investment policy and objectives

The investment portfolio is discretionary managed on a low/medium risk mandate with an objective of producing an income of £4,000 per month. The funds are used as an additional reserve by the Charity and are managed by Walker Crips Investment Management Ltd.

Plans for future periods

Aims and key objectives for future periods

The Charity’s aim for future periods is to ensure dogs comprising of strays and pets, unwanted temporarily for a variety of different reasons, have appropriate care to rehabilitate them and then to place them in suitable new homes where they will be wanted, loved and cared for again. This aim is of at the core of every aspect of Charity's future plans.

Page 7

St Francis Dogs Home Trustees, Report A¢tiviti8s planned to a¢hl8ve alms Plans are in motion for the demolition and rebuikjing of the dco rescue Gentr8 on the Charity's site at Trev8lgug Road, Porth. which will provlde the r￿Uired space and resourG8s for the Charity to achieve their goats. Plans have successfully been prepared and submitted to Cornwall CouncAI. The authority has Tecenlly approved these plans, subject to Some conditions, allowing the next detailed design, c05t and building phases to commence. The investment propety at Quinlrell Downs, Newquay has been placed for sale in the reglon of £260k to Gontrlbute towards the remalning Gosts of the development. The annual report was approved by the Trustees of the charlty on and signed on their b 10 a i..J.022 Tracey Collins Ch8ir of the Board of Trustees Page 8

St Francis Dogs Home Statement of Trustees, Responsibilities The trustees are re5ponslble for preparlng the trustèes. report and the financial statsmenls in accordance with the United lQngdom Accounting Standards {United Kingdom Generally A¢￿pted Accounting Practlce) and applicable law and regulations. The law applicable to charities requires the trustees to prepare ffinencial ststements for each financial period 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 th6 charity for that period. In preparing these financial statements, thè Irustees are required to.. select suitable accounting polioes and then appty them consistentty., obseNe tho methods and principles in the Charities SORP., make judgements and estimates that are reasonable and pnjdent., slate whether applicable accounting standards have been followed. subject trj any material departures disclosed and explained in the ffinancial statements., and prepare Ihe finanual stalements on the going concem basis unless it is inappropriats to presume that the charity will continue in busine5S. The truslee$ are responsible for keeping proper accounting records that disclose with reasonable accuracy al any timo the financial position of the charity and enable them to ènsure that the finan¢ial statements compty with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, a￿1 the provisions of the constitution. The trustees 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 irregulaTities. Approved by the tnjstees of the chatty on and $lgned or¢ its behalf by: Trace ns r of the Board of Trustees Poge 9

St Francis Dogs Home

Independent Examiner's Report to the trustees of St Francis Dogs Home

I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 March 2021 which are set out on pages 11 to 22.

Respective responsibilities of trustees and examiner

As the charity’s trustees of St Francis Dogs Home you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the St Francis Dogs Home's accounts 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

Since St Francis Dogs Home's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.

I confirm that the Charity received a dispensation from the Charity Commission on 15 December 2021 in relation to an audit exemption. The audit exemption was granted as income only exceeded the audit threshold as a result of the transfer of the net assets of the predecessor charity St Francis Home for Animals on 1 April 2021 (registration number 205823). I am therefore are satisfied that an independent examination is appropriate as opposed to an audit under s.144(2) of the Act.

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:

  1. accounting records were not kept in respect of St Francis Dogs Home as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

...................................... Tom Roach BSc FCA Francis Clark LLP

Lowin House Tregolls Rd Truro TR1 2NA

Date:............................. 31 January 2022

Page 10

St Francis Dogs Home

Statement of Financial Activities

Period from 15 October 2019 to 31 March 2021

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Gains/losses on investment assets
Net income
Net movement in funds
Reconciliation of funds
Total funds carried forward
16		 Unrestricted
funds
£
1,260,830
42,458
6,340
1,309,628
(4,365)
(122,395)
(126,760)
280,447
1,463,315
1,463,315
1,463,315		 Total
2021
£
1,260,830
42,458
6,340
1,309,628
(4,365)
(122,395)
(126,760)
280,447
1,463,315
1,463,315
1,463,315

All of the charity's activities derive from continuing operations during the above period.

The notes on pages 14 to 22 form an integral part of these financial statements. Page 11

St Francis Dogs Home Balance Sheet 31 March 2021 2021 Note Flx•d assets Intangible assets Tangible assets Investments 10 11 12 2,101 81,345 957,333 1,040,779 Current assets Debtors Cash at bank and in hand 13 14 7,983 421,514 429,497 Crgditors: Amounts falling due within one year Not current assets 15 6,961 422,536 Nèt assets 1,463,315 Funds ofihe charty: Unrestricted income funds Unrestacled funds 1,463315 Total funds 1,463,315 The financial statements on pages 11 10 22 were approved by the trustses, and authorised for issu$ on .10 O! .E*228nd signed on their behalf by.. TTacey Colli Ch8iT of thè Board of Trustees The notes on pag0$ 14 to 22 form an integral part of th0$0 financial statements. Page 12

St Francis Dogs Home

Cash Flow Statement

Period from 15 October 2019 to 31 March 2021

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
5
Amortisation
5
Investment income
3
Unrealised gains on investments
Realised gains on investments
Working capital adjustments
Increase in debtors
13
Increase in creditors
15
Increase in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
3
Purchase of intangible fixed assets
10
Purchase of tangible fixed assets
11
Purchase of investments
12
Sale of investments
Net cash flows from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 15 October
Cash and cash equivalents at 31 March		 2021
£
1,463,315
7,791
233
(42,458)
(232,761)
(47,685)
1,148,435
(7,983)
6,469
492
1,147,413
42,458
(2,334)
(89,136)
(1,036,567)
359,680
(725,899)
421,514
-
421,514

All of the cash flows are derived from acquisitions in the current financial period.

The notes on pages 14 to 22 form an integral part of these financial statements. Page 13

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

St Francis Dogs Home meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The charity has temporarily suspended its activities whilst its future plans are developed. On 1 April 2020, the assets, liabilities and operations of the now dormant charity St Francis Home for Animals were transferred to the charity.The trustees intend to resume the activities previously carried out by St Francis Home for Animals in the future. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

The value of services provided by volunteers has not been included.

Investment income

Income from investments is recognised is included in the year in which it is recievable

Page 14

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible fixed assets

Individual fixed assets costing £200 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Website costs

Amortisation method and rate 10% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets, other than land and properties under construction, so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Land and buildings

Depreciation method and rate 10% straight line basis

Page 15

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

Furniture and equipment 10% straight line basis Computer equipment 33% straight line basis

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the trustees with an independent examination performed by an external valuer every fifth year. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Transfer of assets from St Francis Home for Animals

On 1 April 2020 the assets, liabilities and operations of the charitable organisation St Francis Home for Animals (registered number 205823) were transferred to St Francis Dogs Home. Following the formal transfer the bank accounts, investment account and VAT registration and gift aid registration have not yet been changed to the new charity, and St Francis Dogs Home has continued to maintain these records as agent for the CIO. Hence, all of the related transactions have been reflected in the St Francis Dogs Home accounts.

2 Income from donations and legacies

Donations and legacies;
Transfer from St Francis Home for Animals
Donations from individuals
Legacies
Donations from corporations
Gift aid reclaimed		 Unrestricted
funds
£
1,131,791
5,484
120,985
368
2,202
1,260,830		 Total
2021
£
1,131,791
5,484
120,985
368
2,202
1,260,830

Page 16

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

3 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments
4
Other income
Rental income
5
Expenditure on raising funds
a) Investment management costs
Portfolio management costs
6
Expenditure on charitable activities
Sundry
Printing, postage and stationary
Veterinary fees
Rehoming fees
Travel
Repairs and maintenance
Cleaning
Donation
Insurance
Advertising
Page 17		 Unrestricted
funds
£
8
42,450
42,458
Unrestricted
funds
£
6,340
Unrestricted
funds
£
4,365
4,365
Activity
undertaken
directly
£
(188)
1,016
2,180
3,695
553
8,479
194
15,102
1,513
4,425		 Total
2021
£
8
42,450
42,458
Total
2021
£
6,340
Total
2021
£
4,365
4,365
Total
2021
£
(188)
1,016
2,180
3,695
553
8,479
194
15,102
1,513
4,425

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

Power, light and heating
Rates
Motor expenses
Independent examiner fees
Book keeping fees
Consultancy fees
Legal and Professional
IT software
Bank charges
Telephone and internet
Depreciation
Amortisation
Staff costs		 Activity
undertaken
directly
£
506
165
804
3,700
2,582
30,037
18,774
1,617
373
598
7,702
322
18,246
122,395		 Total
2021
£
506
165
804
3,700
2,582
30,037
18,774
1,617
373
598
7,702
322
18,246
122,395

£122,395 of the above expenditure was attributable to unrestricted funds and £Nil to restricted funds.

7 Net incoming/outgoing resources

Net incoming/outgoing resources for the period include:

Profit on disposal of investments
Independent examiner's fee
Depreciation of fixed assets
Amortisation of intangibles		 2021
£
(47,685)
3,700
7,792
233

8 Trustees remuneration and expenses

During the period the charity made the following transactions with trustees:

Tracey Collins (Chair)

£82 of expenses were reimbursed to Tracey Collins (Chair) during the period.

Anthony Kinder ACA (Treasurer)

£207 of expenses were reimbursed to Anthony Kinder ACA (Treasurer) during the period.

Michelle Barley

£397 of expenses were reimbursed to Michelle Barley during the period.

Page 18

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the period were:
Wages and salaries
Pension costs
Redundancy payments		 2021
£
(6,954)
269
24,931
18,246

All staff (a total of six employees) previously employed by St Francis Home for Animals were made redundant at the end of March 2020 with redundancy payments outstanding. The charity took on all operational responsibilties after the transfer from St Francis Home for Animals on 1 April 2020 and consequently made redundancy and/or termination payments which totalled £24,931.

The wages and salaries figure consists of a refund related to a recoverable SMP claim.

No employee received emoluments of more than £60,000 during the period.

The total redundancy payments to key management personnel of the former charity were £2,585.

10 Intangible fixed assets

Cost
Additions
At 31 March 2021
Amortisation
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021		 Other
intangible
asset
£
2,334
2,334
233
233
2,101		 Total
£
2,334
2,334
233
233
2,101

Page 19

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

11 Tangible fixed assets

Cost
Additions
At 31 March 2021
Depreciation
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
12 Fixed asset investments
Investment properties
Other investments
Investment properties
Revaluation
Additions
Revaluation
At 31 March 2021
Net book value
At 31 March 2021		 Land and
buildings
£
36,724
36,724
2,183
2,183
34,541		 Furniture and
equipment
£
50,842
50,842
5,084
5,084
45,758		 Computer
equipment
£
1,570
1,570
524
524
1,046		 Computer
equipment
£
1,570
1,570
524
524
1,046		 Total
£
89,136
89,136
7,791
7,791
81,345
2021
£
260,000
697,333
1,570
524
524
1,046
957,333
Investment
properties
£
167,500
92,500
260,000
260,000

The investment property was transferred to the charity at a cost of £167,500. The investment property was valued at £260,000 by an independent valuer on 29 October 2021. The trustees consider this valuation to be an appropriate estimate of the market value of the investment property at 31 March 2021.

Page 20

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

Other investments

Revaluation
Additions
Revaluation
Disposals
At 31 March 2021
Net book value
At 31 March 2021		 Listed
investments
£
869,067
140,261
(311,995)
697,333
697,333		 Total
£
869,067
140,261
(311,995)
697,333
697,333

The market value of the listed investments is provided by the investment managers as at 5 April 2021. The trustees consider this to be a suitable estimate of the position as at 31 March 2021.

13 Debtors

Accrued income
VAT recoverable
14 Cash and cash equivalents
Cash at bank		 2021
£
2,201
5,782
7,983
2021
£
421,514

15 Creditors: amounts falling due within one year

Trade creditors
Accruals
Deferred income		 2021
£
139
6,330
492
6,961

Page 21

St Francis Dogs Home

Notes to the Financial Statements

Period from 15 October 2019 to 31 March 2021

Resources deferred in the period

2021 £ 492

The deferred income balance consists of rental income relating to April 2021 recieved in March 2021.

16 Funds

Balance at
15 October
2019
£
Unrestricted funds
General
Unrestricted general
funds
-
Unrestricted funds
General
Unrestricted general funds
17 Analysis of net assets between funds		 Incoming
resources
£
1,309,628		 Resources
expended
£
(126,760)		 Transfers
£
Other
recognised
gains/(losses)
£
-
280,447
Balance at 31
March 2021
£
1,463,315		 Transfers
£
Other
recognised
gains/(losses)
£
-
280,447
Balance at 31
March 2021
£
1,463,315
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
2,101
81,345
957,333
429,497
(6,961)
1,463,315		 Total funds
at 31 March
2021
£
2,101
81,345
957,333
429,497
(6,961)
1,463,315

Page 22