2025-03-31-accounts - Retired Greyhounds South Lakes

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Company registration number: 12575653 Charity registration number: 1191786

RETIRED GREYHOUNDS SOUTH LAKES LIMITED TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Business Financial Management Services Limited 3 Lowther Gardens Grange Over Sands Cumbria LA11 7EX

Retired Greyhounds South Lakes Limited Contents

	Page
Reference and Administrative Details	1
Trustees' Report	2—3
Independent Examiner's Report	4
Statement of Financial Activities (including Income and Expenditure Account)	5
Comparative Statement of Financial Activities (including Income and Expenditure Account)	6
Balance Sheet	7
Notes to the Financial Statements	8—11

Retired Greyhounds South Lakes Limited Reference and Administrative Details For The Year Ended 31 March 2025

Trustees Mr Stuart Stott - Chair Mrs Jennifer Stott Mr Charles Hawkins Charity Number 1191786 Company Number 12575653 Independent Examiner Business Financial Management Services Limited Accountants and Business Advisers Business Financial Management Services Limited Accountants and Business Advisers 3 Lowther Gardens Grange Over Sands Cumbria LA11 7EX

Page 1

Retired Greyhounds South Lakes Limited Company No. 12575653 Trustees' Report For The Year Ended 31 March 2025

The trustees present their report and the financial statements for the year ended 31 March 2025.

Objectives and Activities

Aims and Objectives

The Charity is a charitable company limited by guarantee and was incorporated on 28th April 2020. It is governed by a Memorandum and Articles of Association. The Company was registered as a charity on 13th October 2020.

The Charity's objectives are the fostering, adoption, homing and public awareness of ex-racing greyhounds that have retired from racing due to age, injury or inability. It achieves these objectives by providing veterinary attention and treatment for greyhounds that require it; providing sanctuary of abandoned, unwanted or retired greyhounds; arranging and supporting foster homes for greyhounds; plus the advancement of education of the general public in matters relating to greyhounds as family pets.

The Trustees have considered the Charity Commission's guidance on public benefit and, to achieve this, encourage and give careful consideration to it's objectives. The Charity relies on grants and donations to cover its operating costs.

The strategies employed to achieve the Charity's aims and objectives in the last year are set out in the Review of Activities below.

Review of Activities & Financial Information

Since the Charity was formed, Jenny and Stuart Stott have continued their previous activity of fostering and homing retired greyhounds which they started doing in 2004 under the auspices of other greyhound homing charities. In the period under review, 51 dogs (2024: 49) were homed, 7 dogs (2024: 6) remained on 31/03/25 who were still looking for homes and 4 are on the waiting list. 1 dog remains in long term foster care.

The results of the Charity's activities are contained in the attached financial statements.

Income Generation

In the year to 31/03/22. a grant was received of £2,300 towards the cost of CCTV equipment. In 2020/21, an animal ambulance worth £16,750 was donated to the charity by Stuart A Stott and Jennifer E Stott who are two of the Trustees. Both of these grants have been treated as restricted grants. Unrestricted donations and grants totalling £22,748 (2024: £34,198) came from donations, collection tins, and grants. £21,123 (2024: £21,928) was received for adoption, homing and transfers of ownership charges. Bond transfers from the Greyhound Board of Great Britain totalled £15,320 (2024: £16,800). Sales of merchandise and receipts from various fundraising activities totalled £21,434 (2024: £18,149). Therefore, including £1,291 (2024: £892) received in interest, a total of £81,916 (2024: £91.969) was received towards the Charity's activities.

Resources Expended & Services

The cost of merchandise sold and fundraising activities was £9,205 (2024: £7,173). The largest cost incurred was £18,108 (2024: £12187) for Kennelling and Fostering expenses. Veterinary expenses cost the Charity £12,080 (2024 £19,445). Some dogs were received which had not been bonded. Therefore to receive the full bond funding grant from the GBGB £100 (2024 £800) was paid to GBGB for bonds on these dogs.

Reserves

The Charity made a surplus of income over expenditure of £17,305 (2024 £33,931) which is carried forward for future charitable activity.

Risk Management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to its operation and finances, and are satisfied that systems are in place to mitigate the exposure to the major risks.

Trustees & Directors

The Trustees and Directors who held office during the financial period and subsequently were as follows: Stuart A Stott (Chair) (appointed 28/04/20) Jennifer E Stott (appointed 28/04/20) Charles Hawkins (appointed 02/05/21) Helen J Smith (appointed 02/05/21)

Secretary

The Charity Commission contact is Jennifer E Stott.

Page 2

Retired Greyhounds South Lakes Limited Trustees' Report (continued) For The Year Ended 31 March 2025

Statement of Trustees' Responsibilities

The trustees (who are also directors of Retired Greyhounds South Lakes Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgments and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors and trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and teh Charities (Accounts and Reports) regulations 2008. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Stuart Stott Trustee

Mrs Jennifer Stott Trustee

31/12/2025

Page 3

Retired Greyhounds South Lakes Limited Independent Examiner's Report to the Trustees of Retired Greyhounds South Lakes Limited For The Year Ended 31 March 2025

We report on our examination the accounts of Retired Greyhounds South Lakes Limited for the year ended 31 March 2024.

Responsibilities and Basis of Report

As the charity 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

We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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).

We 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.

Business Financial Management Services Limited Accountants and Business Advisers 31/12/2025

3 Lowther Gardens Grange Over Sands Cumbria LA11 7EX

Page 4

Retired Greyhounds South Lakes Limited Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025

Unrestricted funds £ 22,748 36,443 21,434 1,291	Restricted funds £ - - - -	2025 Total funds £ 22,748 36,443 21,434 1,291	2024 Total funds £ 34,199 38,728 18,150 892
81,916	-	81,916	91,969
(9,205) (55,406)	- (1,406)	(9,205) (56,812)	(7,173) (50,865)
(64,611)	(1,406)	(66,017)	(58,038)
17,305	(1,406)	15,899	33,931
17,305 60,828	(1,406) (1,936)	15,899 58,892	33,931 35,151
78,133	(3,342)	74,791	69,082

The notes on pages 8 to 11 form part of these financial statements.

Page 5

Retired Greyhounds South Lakes Limited Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025

Unrestricted funds £ 34,199 38,728 18,150 892	Restricted funds £ - - - -	2024 Total funds £ 34,199 38,728 18,150 892
91,969	-	91,969
(7,174) (48,564)	1 (2,301)	(7,173) (50,865)
(55,738)	(2,300)	(58,038)
36,231	(2,300)	33,931
36,231 27,388	(2,300) 7,763	33,931 35,151
63,619	5,463	69,082

The notes on pages 8 to 11 form part of these financial statements.

Page 6

Retired Greyhounds South Lakes Limited Balance Sheet As At 31 March 2025

Unrestricted funds £ 10,780	Restricted funds £ (3,342)	2025 Total funds £ 7,438	2024 Total funds £ 17,012
10,780 - - 72,814	(3,342) - - -	7,438 - - 72,814	17,012 1,000 6,865 49,863
72,814 (5,461)	- -	72,814 (5,461 )	57,728 (5,655 )
67,353	-	67,353	52,073
78,133	(3,342)	74,791	69,085
78,133	(3,342)	74,791	69,085
		(3,342) 78,133	5,463 63,619
		74,791	69,082

For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Stuart Stott Mrs Jennifer Stott Trustee Trustee 31/12/2025

The notes on pages 8 to 11 form part of these financial statements.

Page 7

Retired Greyhounds South Lakes Limited Notes to the Financial Statements For The Year Ended 31 March 2025

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.

1.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold 25 % Reducing Balance Plant & Machinery 25% reducing balance method Motor Vehicles 25% reducing balance method Computer Equipment 25% reducing balance method

1.3. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

2. Income from Donations and Legacies

. Income from Donations and Legacies
Donations and gifts Sponsorships Gift aid Grants	2025 Unrestricted funds £ 16,359 1,339 2,800 2,250	2024 Total funds £ 17,690 907 15,602 -
	22,748	34,199

3. Income from Charitable Activities

Dog Welfare, Adoption and Housing . Investment Income Bank interest receivable Interest on short-term deposits	2025 Unrestricted funds £ 36,443	2025 Unrestricted funds £ 36,443	2024 Total funds £ 38,728
		2025 Unrestricted funds £ - 1,291	2024 Total funds £ 7 885
		1,291	892

4. Investment Income

Page 8

Retired Greyhounds South Lakes Limited Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

5. Analysis of Expenditure

Activities undertaken directly £ 9,205 18,108 100 9,538 2,283 12,080 - 3,131 3,202 1,406 3,624 564 408 -	Grant funding of activities £ - - - - - - - - - - 567 - - -	Support costs (see note6) £ - - - - - - 951 - - - - - - 850	2025 Total £ 9,205 18,108 100 9,538 2,283 12,080 951 3,131 3,202 1,406 4,191 564 408 850
63,649	567	1,801	66,017
Activities undertaken directly £ 7,173 12,187 800 2,364 3,044 19,445 - 2,821 2,326 1,875 2,759 753 343 -	Grant funding of activities £ - - - - - - - - - - 584 - - -	Support costs (see note6) £ - - - - - - 745 - - - - - - 819	2024 Total £ 7,173 12,187 800 2,364 3,044 19,445 745 2,821 2,326 1,875 3,343 753 343 819
55,890	584	1,564	58,038

Page 9

Retired Greyhounds South Lakes Limited Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

6. Support Costs

General administration General administration . Average Number of Employees verage number of employees during the year was: NIL (2024: ) . Tangible Assets Land & Property Leasehold £ Cost As at 1 April 2024 1,849 As at 31 March 2025 1,849 Depreciation As at 1 April 2024 462 Provided during the period 347 As at 31 March 2025 809 Net Book Value As at 31 March 2025 1,040 As at 1 April 2024 1,387 . Debtors Due within one year Trade debtors Other debtors	Plant & Machinery £ 15,647	Insurance £ 951	Governance Costs £ 850	2025 Total £ 1,801
		Insurance £ 745	Governance Costs £ 819	2024 Total £ 1,564
		Motor Vehicles £ 17,519	Computer Equipment £ 4,052	Total £ 39,067
1,849	15,647	17,519	4,052	39,067
462 347	5,321 9,839	11,895 1,406	1,795 564	19,473 12,156
809	15,160	13,301	2,359	31,629
1,040	487	4,218	1,693	7,438
1,387	10,326	5,624	2,257	19,594
			2025 £ - - -	2024 £ 6,249 616
				6,865

7. Average Number of Employees

Average number of employees during the year was: NIL (2024: )

8. Tangible Assets

9. Debtors

Page 10

Retired Greyhounds South Lakes Limited Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

10. Creditors: Amounts Falling Due Within One Year

0. Creditors: Amounts Falling Due Within One Year
Trade creditors Other creditors Accruals and deferred income	2025 £ 3,474 1,303 684 5,461	2024 £ 4,377 594 684
		5,655

11. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

2025	2024
£	£

12. Related Party Disclosures

Page 11