The Sheep Sanctuary
Charity No. 1195028
Trustees' Report and Unaudited Accounts
30 June 2024
The Sheep Sanctuary Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Statement of Cash flows | 13 |
| Notes to the Accounts | 8 to 12 |
| Detailed Statement of Financial Activities | 14 to 15 |
Page 1
The Sheep Sanctuary Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 June 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1195028
Principal Office
14 Church Lane Burstwick East Yorkshire HU12 9ER
Trustees
The following trustees served during the year:
K.D. Fowler M. Gallagher J.A. Walton
Key Management Personnel
Chair Jacqueline Walton
Accountants
MPH Accountancy 1st Floor Manor House Main Road Ryehill East Yorkshire HU12 9NH
Bankers
Royal Bank of Scotland Sheffield Church Street 5 Church Street Sheffield S1 1HF
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document for the benefit of the public to relieve the suffering and distress of animals in need of care and attention by reason of sickness, neglect, mistreatment, ill usage, and misadventure and in particular to provide and maintain a safe haven (sanctuary) or other facilities for the reception of such animals. For the benefit of the public to educate the public on matters concerning animal welfare.
The main activities of the charity is the rescue of animals in distress by providing respite, care and medical treatment.
All activities undertaken during the year kept in mind the Charity Commission's guidance on public benefit and we believe that this has been achieved.
Page 2
The Sheep Sanctuary Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
In the Spring of 2024 the Pet Therapy visits resumed , extending the remit to visit schools and child nurseries as well as residential / care homes. This was enjoyed by all.
The local child nursery at Preston (called Songbirds) donated £1000 in return for siting an advertising board in the corner of the grazing field. This we hope will be an annual donation.
The number of outlets has been increased to house charity boxes which brings in small regular amounts of money.
The Sheep Sanctuary summer fundraiser on bank holiday Monday in August 2023 was a successful day, with lots of support from the local community, with positive feedback. The day raised funds and awareness of the charity allowing the charity to fulfil its charitable objectives.
The charity will continue to house a similar number of sheep and goats but may need to ensure that contributions from those giving the animals are more generous. Rising costs of feed and vet’s bills means there is a limited amount of ‘free’ care that can be offered.
A shelter was built this year for our resident goats and we recycled our wool as insulation for the building. A donation was received from Lelly Fields, the local crematorium at Preston. They are very interested in supporting us and building a community relationship.
The charity is hugely grateful for the time and effort given by all of the volunteers involved throughout the year who without them it could not have achieved it's aims.
FINANCIAL REVIEW
The charity still has a modest amount of cash in the bank and is still reliant of the trustees to meet costs. With plans, it is hoped that the charity can raise much more funds to be able to comfortably continue to meet financial commitments. An application has been made to register for Gift Aid which will bring a little extra revenue. There is no formal reserves policy however there are plans to be more proactive in raising funds which will allow such a policy to be written, in line with advice from the charity advisors.
The charity does not currently have a formal reserves policy in place however once the charity builds reserves it will gradually incorporate a policy in line with advice from the charity advisors.
PLANS FOR FUTURE PERIODS
The chair of trustees has made contact with an external advisor who she hopes will be able to help with forward planning and fundraising.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity's Constitution was registered as Charity on 1 July 2021. It has a legal status as a Charitable Incorporated Organisation (CIO).
Trustees are appointed and reappointed annually at the Annual General Meeting with a minimum of 3 Trustees.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 3
The Sheep Sanctuary Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
J.A. Walton Trustee 15 August 2024
Page 4
The Sheep Sanctuary Independent Examiners Report
Independent Examiner's Report to the trustees of The Sheep Sanctuary
I report to the trustees on my examination of the financial statements of The Sheep Sanctuary for the year ended 30 June 2024.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements 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
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Shannon Smith MAAT ACCA MPH Accountancy 1st Floor Manor House Main Road Ryehill East Yorkshire HU12 9NH 15 August 2024
Page 5
The Sheep Sanctuary Statement of Financial Activities for the year ended 30 June 2024
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Charitable activities 4 Other 5 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| 14,411 | 14,411 | 9,389 | ||
| 14,411 | 14,411 | 9,389 | ||
| 7,548 | 7,548 | 6,385 | ||
| 5,932 | 5,932 | 2,199 | ||
| 13,480 | 13,480 | 8,584 | ||
| - | - | - | ||
| 931 | 931 | 805 | ||
| - | - | - | ||
| 931 | 931 | 805 | ||
| 931 | 931 | 805 | ||
| 986 | 986 | 181 | ||
| 1,917 | 1,917 | 986 | ||
Page 6
The Sheep Sanctuary Balance Sheet at 30 June 2024
| at 30 June 2024 | ||
|---|---|---|
| Charity No. 1195028 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 7 Unrestricted funds 7 General funds Reserves 7 Total funds Approved by the trustees on 15 August 2024 |
2024 £ 1,917 1,917 1,917 1,917 1,917 1,917 1,917 1,917 1,917 |
2023 £ 986 |
| 986 | ||
| 986 986 |
||
| 986 | ||
| 986 | ||
| 986 | ||
| 986 | ||
| 986 | ||
And signed on their behalf by: J.A. Walton Trustee 15 August 2024
Page 7
The Sheep Sanctuary Notes to the Accounts
for the year ended 30 June 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 if 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.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
The Sheep Sanctuary Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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 after allowing for any trade discounts due.
Page 9
The Sheep Sanctuary Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 10
The Sheep Sanctuary Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations 4 Expenditure on charitable activities Expenditure on charitable activities Grazing Rent Feed, Vets Fees and Transport Livestock Consumables Governance costs |
Unrestricted £ 14,411 14,411 Unrestricted £ 3,440 3,365 743 7,548 |
Unrestricted funds 2023 £ 9,389 9,389 6,385 2,199 8,584 805 805 805 181 986 Total 2024 £ 14,411 14,411 Total 2024 £ 3,440 3,365 743 7,548 |
Total funds 2023 £ 9,389 |
|---|---|---|---|
| 9,389 6,385 2,199 |
|||
| 8,584 | |||
| 805 | |||
| 805 | |||
| 805 181 |
|||
| 986 | |||
| Total 2023 £ 9,389 |
|||
| 9,389 | |||
| Total 2023 £ 1,040 4,747 598 |
|||
| 6,385 |
Page 11
The Sheep Sanctuary Notes to the Accounts
- 5 Other expenditure
| Motor and travel costs General administrative costs 6 Staff costs No employee received emoluments in excess 7 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 8 Analysis of net assets between funds Net current assets 9 Reconciliation of net debt Cash and cash equivalents Net debt |
of £60,000. At 1 July 2023 986 986 |
Unrestricted £ 1,891 4,041 5,932 Incoming resources (including other gains/losses ) £ 14,411 14,411 At 1 July 2023 £ |
Total 2024 £ 1,891 4,041 5,932 Resources expended £ (13,480) (13,480) Unrestricted funds £ 1,917 1,917 Cash flows £ |
Total 2023 £ - 2,199 |
|---|---|---|---|---|
| 2,199 | ||||
| At 30 June 2024 £ 1,917 |
||||
| 1,917 | ||||
| Total £ 1,917 |
||||
| 1,917 | ||||
| At 30 June 2024 £ |
||||
| 986 | 931 | 1,917 | ||
| 986 986 |
931 931 |
1,917 | ||
| 1,917 | ||||
Page 12
The Sheep Sanctuary Statement of Cash flows for the year ended 30 June 2024
| Cash flows from operating activities Net income per Statement of Financial Activities Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2024 £ 931 931 - - 931 986 1,917 |
2023 £ 805 |
|---|---|---|
| 805 | ||
| - | ||
| - | ||
| 805 | ||
| 181 | ||
| 986 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 1,917 | 986 |
| 1,917 | 986 |
Page 13
The Sheep Sanctuary Detailed Statement of Financial Activities
for the year ended 30 June 2024
| Income and endowments from: Donations and legacies Donations Total income and endowments Expenditure on: Charitable activities Grazing Rent Feed, Vets Fees and Transport Livestock Consumables Total of expenditure on charitable activities Motor and travel costs Business mileage costs reimbursed General administrative costs, including depreciation and amortisation Equipment leasing and hire charges Equipment repairs and maintenance General insurances Stationery and printing Sundry expenses Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds |
Unrestricted funds 2024 £ 14,411 14,411 14,411 3,440 3,365 743 7,548 7,548 1,891 1,891 232 2,965 307 103 434 4,041 5,932 13,480 - 931 931 - 931 |
Total funds 2024 £ 14,411 14,411 14,411 3,440 3,365 743 7,548 7,548 1,891 1,891 232 2,965 307 103 434 4,041 5,932 13,480 - 931 931 - 931 |
Total funds 2023 £ 9,389 |
|---|---|---|---|
| 9,389 | |||
| 9,389 1,040 4,747 598 |
|||
| 6,385 | |||
| 6,385 - |
|||
| - | |||
| - 1,893 303 3 - |
|||
| 2,199 | |||
| 2,199 | |||
| 8,584 - |
|||
| 805 | |||
| 805 - |
|||
| 805 |
Page 14
The Sheep Sanctuary Detailed Statement of Financial Activities
Reconciliation of funds:
| Reconciliation of funds: | |||
|---|---|---|---|
| Total funds brought forward Total funds carried forward |
986 1,917 |
986 1,917 |
181 |
| 986 |
Page 15