TRUSTEES REPORT FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
The trustees present their annual report together with the financial statements of the charity for the period 1[st] December 2023 to 30[th] November 2024. 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 (FRS102) (effective 1 January 2019).
Introduction
The Trustees are satisfied with the performance of the charity during the year. They consider that the charity is in a strong position to continue its activities during the coming year and that the charity’s assets are adequate to fulfil its obligations.
Objectives and Activities
We are passionate about our Shop, the only one of its' kind in the UK.
Originally operated by Animals Asia Foundation for 10 years until August 2021.
We are our own independent charity which raises funds to support the ending of bear bile farming, the trade in cats and dogs for meat and improving the welfare of captive animals in zoos and safari parks in China and Vietnam.
We promote, raise awareness and educate in matters concerning animal welfare.
We provide grants to support charities who prevent cruelty to animals.
1. Structure, Governance and management
Legal Status
The Charity converted its’ status to a Charitable Incorporated Organisation “CIO” on 19[th] September 2024 to have a simpler regulatory framework.
Trustees
The charity is run by a board of four trustees, all of whom must be members who serve a term of three years. All trustees are actively involved in the daily operation of the charity.
The trustees meet regularly during the year. It sees their function to ensure good governance of the charity, approval of plans, monitoring of progress and financial controls.
Volunteers
We are fortunate to have a long standing and committed group of volunteers who generously give up their time to support the aims of the charity.
Raising Awareness
We are listed and promote our charity on social media platforms
2. Financial Review
Fundraising and income generation
The majority of our income is generated from the sale of donated items generously given by local and regional residents’ who are supporters of the shop. We also raise income from supporters’ financial donations and the recycling of clothing and goods.
Retail trading conditions are challenging, and the quality of clothes’ donations are reducing. There has been an increase in unsaleable items for recycling. Income from recycling has reduced significantly but fortunately this is a small part of our income. The economy is having an impact on customers’ spending patterns and there is low consumer confidence due to the cost-of-living crisis. There is strong local competition from other charities on the high street and there are a number of low-cost retailers’. On a positive note we have agreed a new lease with no increase in rental charges and we continue to prudently manage our costs.
Reserves policy
We closed the year 2024 with a balance of £35,532 in general funds. Our aim is to demonstrate a prudent level of security to sustain the charity in the event of difficult circumstances whilst ensuring we do not hold onto funds unnecessarily.
3. Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Acccepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and 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 irregularities.
| Charity No (if any) 1201096 Period start date 01/09/2023 To Period end date 30/11/2024 CC39a Animals Asia Emporium Annual accounts for the period |
Charity No (if any) 1201096 Period start date 01/09/2023 To Period end date 30/11/2024 CC39a Animals Asia Emporium Annual accounts for the period |
|
|---|---|---|
| Section A | Statement of financial activities | |
| Descriptions by natural category Note Incoming resources Sales of shop donations Interest and dividends Transfer from conversion Donations, legacies and Grants S01 Resources expended (Notes 4-7) Consumables Rent, rates and Insurance Waste Disposal Repairs and maintenance Light and heat Telephone, postage and stationery Donations and Grants Legal and professional fees Bank charges and interest Depreciation Staff Entertainment Wages, salaries, pensions and NI S02 S03 S04 S05 S06 S07 S08 S09 S10 Total funds carried forward Total funds brought forward Net movement in funds Net incoming/(outgoing) resources before transfers Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds Total resources expended Total incoming resources |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 48,368 - - 48,368 60,640 599 - - 599 287 - - - 23,328 29,047 - - 29,047 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
|
| 78,014 - - 78,014 84,255 |
||
| 710 - - 710 1,048 10,315 - - 10,315 12,779 1,119 - - 1,119 1,227 3,591 - - 3,591 3,726 534 - - 534 1,364 602 - - 602 629 48,214 - - 48,214 24,000 1,681 - - 1,681 1,354 781 - - 781 711 240 - - 240 140 329 - - 329 290 11,353 - - 11,353 - - - - - - - - - - - |
||
| 79,469 - - 79,469 47,268 1,455 - - - 1,455 - 36,987 |
||
| - - - - - |
||
| 1,455 - - - 1,455 - 36,987 |
||
| - - - - - - - - - - |
||
| 1,455 - - - 1,455 - 36,987 |
||
| - - - - |
||
| 1,455 - - - 1,455 - 36,987 |
Page 1
Section B Balance sheet
| Note | Total this year | Total last year | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | F01 | F02 | |||
| Tangible assets (Note 8) | B01 | 578 | 818 | ||
| B02 | - | - | |||
| Investments (Note 9) | B03 | - | - | ||
| Total | fixed assets | B04 | 578 | 818 | |
| Current assets | |||||
| Stock and work in progress | B05 | - | - | ||
| Debtors (Note 10) | B06 | 1,779 | 223 | ||
| (Short term) investments | B07 | - | - | ||
| Cash at bank and in hand | B08 | 35,562 | 38,295 | ||
| Total current assets | B09 | 37,341 | 38,518 | ||
| Creditors: amounts falling due within one | |||||
| year (Note 11) | B10 | 2,387 | 2,349 | ||
| Net current assets/(liabilities) | B11 | 34,954 | 36,169 | ||
| Total assets less current liabilities | B12 | 35,532 | 36,987 | ||
| Creditors: amounts falling due after one year | |||||
| (Note 11) | B13 | - | - | ||
| Provisions for liabilities and charges | B14 | - | - | ||
| Net assets | B15 | 35,532 | 36,987 | ||
| Funds of the Charity | |||||
| Unrestricted funds | B16 | 35,532 | 36,987 | ||
| Designated funds | B17 | - | - | ||
| Total unrestricted funds | 35,532 | 36,987 | |||
| Restricted income funds (Note 12) | B18 | - | - | ||
| Endowment funds(Note 12) | B19 | - | - | ||
| Total funds | B20 | 35,532 | 36,987 | ||
| Signed by one or two trustees on behalf trustees |
of all the Signature |
Date of approval | |||
| K Morgan | 23/09/2025 | ||||
Page 2
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
- Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
• and with Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);
- and with the Charities Act.
Give details in this box if a different standard has been followed.
1.2 Change in basis of accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.
Give details in this box of any material changes that have been made.
1.3 Changes to previous accounts
No changes have been made to accounts for previous years.
Give details in this box of any material changes that have been made.
Page 3
Section C Notes to the accounts (cont)
Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
|---|---|
| resources | the charity becomes entitled to the resources; |
| the trustees are virtually certain they will receive the resources; and | |
| the monetary value can be measured with sufficient reliability. | |
| Incoming resources with | Where incoming resources have related expenditure (as with fundraising or contract income) |
| related expenditure | the incoming resources and related expenditure are reported gross in the SoFA. |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has unconditional |
| entitlement to the resources. | |
| Contractual income and | This is only included in the SoFA once the related goods or services have been delivered. |
| performance related grants | |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. |
| Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or | |
| distributed by the charity. | |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when | |
| receivable. | |
| Donated services and | These are only included in incoming resources (with an equivalent amount in resources |
| facilities | expended) where the benefit to the charity is reasonably quantifiable, measurable and |
| material_._The value placed on these resources is the estimated value to the charity of the | |
| service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and losses | This includes any gain or loss on the sale of investments and any gain or loss resulting from |
| revaluing investments to market value at the end of the year. | |
| EXPENDITURE AND LIABILITIES | |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation committing the |
| charity to pay out resources. | |
| Grants with performance | Where the charity gives a grant with conditions for its payment being a specific level of service |
| conditions | or output to be provided, such grants are only recognised in the SoFA once the recipient of the |
| grant has provided the specified service or output. | |
| Grants payable without | These are only recognised in the accounts when a commitment has been made and there are |
| performance conditions | no conditions to be met relating to the grant which remain in the control of the charity. |
| ASSETS | |
| Tangible fixed assets for use | These are capitalised if they can be used for more than one year. They are valued at cost or a |
| by charity | reasonable value on receipt. |
Page 4
Section C Notes to the accounts (cont)
Note 5 Details of certain items of expenditure
5.1 Trustee expenses
Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).
| Number of trustees who were paid expenses Nature of the expenses Total amount paid |
This year Last year 3 3 Parking, travel and meetings refreshments Parking, travel and meetings refreshments 431.35 107.40 |
|---|---|
5.2 Fees for examination or audit of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).
| Independent examiner’s or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor |
This year Last year £ £ 124 120 746 420 |
|---|---|
Page 5
Section C Notes to the accounts (cont)
Note8 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets
8.1 Cost or valuation
----- Start of picture text -----
Freehold land Other land & Plant, Fixtures, Payments on Total
& buildings buildings machinery fittings and account and
and motor equipment assets under
vehicles construction
£ £ £ £ £ £
Balance brought - - - 958 - 958
forward
Additions - - - - - -
Revaluations - - - - - -
Disposals - - - - - -
Transfers * - - - - - -
Balance carried - - - 958 - 958
forward
8.2 Accumulated depreciation and impairment provisions
Basis SL or RB SL or RB SL or RB SL or RB SL or RB
Rate 4 years SL
Balance brought - - - 140 - 140
forward
Depreciation charge - - - 240 - 240
for year
Impairment provisions - - - - - -
Revaluations - - - - - -
Disposals - - - - - -
Transfers - - - - - -
Balance carried - - - 380 - 380
forward
8.3 Net book value
Brought forward - - - 818 - 818
Carried forward - - - 578 - 578
----- End of picture text -----*
Page 6
Section C Notes to the accounts (cont)
Note 10 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
| Analysis of debtors | Amounts falling due within one year |
Amounts falling due within one year |
Amounts falling due within one year |
Amounts falling due within one year |
Amounts falling due after more than one year |
Amounts falling due after more than one year |
Amounts falling due after more than one year |
Amounts falling due after more than one year |
||
|---|---|---|---|---|---|---|---|---|---|---|
| This year | Last year | This year | Last year | |||||||
| £ | £ | £ | £ | |||||||
| Trade debtors | 1,078 | - | - | - | ||||||
| Amounts due from subsidiary and associated | ||||||||||
| undertakings | - | - | - | - | ||||||
| Other debtors | 401 | 223 | - | - | ||||||
| Prepayments and accrued income | 300 | - | - | - | ||||||
| Total | 1,779 | 223 | - | - |
Note 11 Creditors and accruals
Please complete this note if the charity has any creditors or accruals. 11.1 Analysis of creditors
| Amounts | falling due | falling due | Amounts falling due after | Amounts falling due after | Amounts falling due after | Amounts falling due after | Amounts falling due after | |||
|---|---|---|---|---|---|---|---|---|---|---|
| within one year | more than | one year | ||||||||
| This year | Last year | This year | Last year | |||||||
| £ | £ | £ | £ | |||||||
| Loans and overdrafts | - | - | - | - | ||||||
| Trade creditors | 555 | 1,249 | - | - | ||||||
| Amounts due to subsidiary and associated | ||||||||||
| undertakings | - | - | - | - | ||||||
| Other creditors | 1,268 | - | - | - | ||||||
| Accruals and deferred income | 564 | 1,100 | - | - | ||||||
| Total | 2,387 | 2,349 | - | - |
Page 7
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees On accounts for the period ended Set out on pages |
Charity Name Animals Asia Emporium |
Charity Name Animals Asia Emporium |
Charity Name Animals Asia Emporium |
|---|---|---|---|
| 30 November 2024 | Charity no (if any) |
1201096 | |
| 1 (remember to include the page numbers of additional sheets) |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the period ended 30/11/2024.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable 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.
Signed: Date: 26/09/2025 Name: Sarah Pogson Relevant professional ACCA qualification(s) or body (if any): Address: 7 Monmouth Close Portishead BS20 8BZ
1
Oct 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER