**Charity Registration No. 207006**
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH**
**INCORPORATING THE COTSWOLDS DOGS AND CATS HOME**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Ms C Blackburn, Honorary Chair||
|---|---|---|
||Mr S Moxham, Honorary Treasurer||
||Mr M Shields, Honorary Secretary||
||Mrs J E Guy||
||Mrs A Sutcliffe||
||Ms N Hooper||
||Mr R Sellek||
||Mr I Edwards||
||Mrs H Li||
||Mrs D Gilleland-Gould||
|**Charity number**|207006||
|**Principal address**|Beechmeadow Farm||
||Elmcote Lane||
||Cambridge||
||Gloucester||
||GL2 7AS||
|**Auditor**|Azets Audit Services||
||Prospect House||
||5 May Lane||
||Dursley||
||Gloucestershire||
||United Kingdom||
||GL11 4JH||
|**Bankers**|HSBC Bank Plc|Triodos Bank|
||4 King Street|Deanery Road|
||Stroud|Bristol|
||Glos.|BS1 5AS|
||GL5 3DS||
||Scottish Widows|Santander|
||PO Box 883|Customer Service Centre|
||Leeds|Bootle|
||LS1 9TY|Merseyside|
|||L30 4GB|
|**Solicitors**|Charles Russell Speechlys LLP||
||Compass House||
||Lypiatt Road||
||Cheltenham||
||Glos. GL50 2QJ||
|**Investment advisors**|Raymond James Investment Services|Ltd|
||25 Ropemaker Place||
||London||
||EC2Y 9LY||
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 6|
|Independent auditor's report|7 - 10|
|Statement of financial activities|11 - 12|
|Balance sheet|13|
|Statement of cash flows|14|
|Notes to the financial statements|15 - 33|
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The Trustees present their report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the branch's governing document, the Charities Act 2011 and "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)".
## **Objects, public benefit and fundraising statement**
The RSPCA Cotswolds, Gloucester and District Branch (the charity) is an unincorporated charitable association and a separately registered charity affiliated to the Royal Society for the Protection of Cruelty to Animals (the Society), carrying out direct animal welfare work in the Gloucestershire and South Cotswolds area in accordance with the policies of the Society.
All charities in England and Wales have charitable aims that are based on providing public benefit and comply with the Charities Act 2011. The charity Trustees pay due regard to Charity Commission guidance on public benefit. Preventing cruelty and promoting kindness to animals promotes moral benefit to the community as a whole and helps people who are vulnerable and in need with the care of their animals.
The Trustees have reviewed the outcomes and achievements of its objectives and activities for the year, to ensure focus remains on its charitable aims and the charity continues to deliver benefit to the public.
The charity is not a member of the Institute of Fundraisers and is not signed up to any body of fundraisers. No third party fundraising is carried out and no cold calls are made to members of the public.
The next section of this report highlights the charity's main activities and the benefit provided to the public. Our charitable activities focus on promoting kindness and preventing cruelty to animals and are undertaken to further these purposes for the public benefit.
## **Charitable activities pursued for the public benefit**
## **Supporting abandoned, neglected and abused animals**
The charity works with the local RSPCA Inspector, Gloucestershire Police and the local animal welfare officers by supporting and taking in neglected, abused or abandoned animals. It also takes in, cares for and finds new homes for pets whose owners suffer ill health, financial or social difficulties or pass away. Animals in the charity’s care receive veterinary treatment, vaccination, neutering, micro-chipping and are assessed for rehoming.
## **Providing Subsidised Veterinary Treatment**
The charity provides subsidised veterinary treatment for animals which are sick or injured and belong to people in the local community on low incomes. This is done through a voucher scheme and a twice weekly veterinary clinic held at our Gloucester and Cotswold Dogs and Cats Home premises. This work benefits those on means tested benefits by giving them financial help to obtain care for companion animals in need for veterinary treatment.
## **Providing Subsidised Neutering and ID-Chipping**
The charity provides subsidised neutering and micro-chipping of companion animals for those in the local community on low incomes. This is done by a voucher scheme. This work helps control dog and cat populations through neutering and benefits those on means tested benefits by giving them financial help to neuter and microchip companion animals thereby promoting responsible pet ownership.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Animal Re-homing**
The charity finds new homes for animals in need to people willing and able to have a companion animal. Whilst it is recognised that companion animals provide immeasurable benefits to people’s physical and mental health, it is considered the provision of pets as a subsidiary to the main charitable aim of this service, which is to reduce animal suffering. A policy to charge a reasonable adoption fee for animals aims to highlight the ongoing personal and financial commitment of pet ownership. It would not be the best interests of animals and therefore would fall outside of the charitable objects, to re-home to those who could not afford them.
|Animals Re-homed|Veterinary Assistance/Neutering|ID-Chipping||
|---|---|---|---|
|267|1,174|152||
A breakdown of the charity’s welfare achievements in 2021 is shown above.
## **Financial Review, achievements and plans for the future**
The charity relies primarily on the income from its charity shops to support its charitable activities. The charity has also benefited from legacy income.
The key aim of the charity is to ensure that no vulnerable animal within our community is without a safe space, or is left to suffer because of a lack of veterinary treatment. Our affiliation with the National RSPCA means that we work closely with RSPCA Inspectors who deal with the worst cases of abuse, neglect and abandonment. The Cotswolds Dogs and Cats Home has gained an outstanding reputation for its work with animals that need a little bit more care in a quiet, calm environment. In 2021 45% of animals we cared for came to us through the RSPCA Inspectors. Sixteen of these were long stay case animals and suffering the worst effects of abuse and neglect. The legal process means that case animals are often long stay animals and the work that we do at the home and with the support of our foster homes means that these animals are given the care and environment they need to slowly recover from their ordeal and to ultimately find wonderful families to share their lives with.
During 2021 The Cotswolds Dogs and Cats Home pursued its objectives of providing a hub within the community for animal welfare. Our facilities successfully enable the charity to engage with the local community by both supporting members of the public who need help and advice in the care of their own animals, by providing opportunities to people seeking work placement and vocational training as well as proactively encouraging an understanding of the welfare needs of domestic animals through outreach work. This work continued to be affected by the pandemic in 2021, but slowly started to recover towards the end of the year.
The Trustees are pleased to report that the financial position at the end of the reporting period shows an increase of £184,436 to a net asset position of £5,491,995.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Risk management**
The Trustees have assessed the major risks to which the branch is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Significant risks are:
- loss of reputation through error or fraud
- loss of income through error or fraud
- insufficient funds to cover the cost of animal welfare activities
- Insufficient funds to cover the operation of The Cotswold Dogs & Cats Home
## **Objectives and policies**
The charity’s activities expose it to a number of financial risks including fraud, credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the Board of Trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## **Credit risk**
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
## **Plans for the future**
The strategic priority for the Board of Trustees is to ensure that its charitable activities are sustainable both in delivery and funding. The charity is looking at increasing both commercial and traditional fundraising streams with the aim of ensuring that this is achieved. Our charitable objective is ensuring every vulnerable animal in our community has the support it needs and a safe place. We believe that engaging with the local community is key to reducing neglect, cruelty and abandonment and our aim for 2022 is to continue to focus on developing and delivering our core charitable objectives within our community. Demand for our welfare clinics is high and we will be looking at how we are able to increase provision for these and ensure that the more vulnerable demographic within our area is able to access our support for their pets.
The charity's longer-term plans are to increase capacity and develop our operational model at the Cotswolds Dogs and Cats Home. At a meeting of the board of Trustee's in March 2022 it was minuted to designate £1m of reserves in the 2021 accounts towards a Phase II build at the Cotswold Dogs and Cats Home site to provide facilities to support the work we are undertaking with third party agencies, enabling us to support pets belonging to vulnerable and homeless people living in our community as well as animals who are victims of organised crime. These plans also include an educational programme that inspires and engages the local community, with the objective to develop an understanding of the issues surrounding animal welfare and through learning and sponsorship of vulnerable groups encourage a kind and compassionate approach to the relationship between animals and humans.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The charity will measure the success of these objectives by seeing increased statistics across the four core activity areas of Re-homing, Veterinary Assistance, Neutering and Micro-chipping as well as seeing an increased engagement in the charity's work by the local community and key stakeholders.
## **Volunteers**
The charity is dependent on voluntary support and recognises the incredible contribution made by its volunteers. Volunteering opportunities available for people who wish to support its work are spread across the key operational areas of income generation (retail and fundraising), administration (fundraising and animal welfare) and animal welfare (fostering and home-visiting). In 2021 the charity benefited from an estimated 13,745 hours of volunteering time.
## **Policy on reserves**
The assets of the Charity are predominately held in fixed assets, mainly the buildings and land comprising the Cotswolds Dogs and Cats Home at Beechmeadow Farm, Cambridge. The Charity also has a portfolio consisting mainly listed investments and cash at bank which is held by the Trustees to cover future site development and ongoing Charity operating costs, At a meeting of the Trustees in March 2022, a previous agreement was minuted to ring-fence £1,000,000 in the 2021 accounts for future development of the Cotswold Dogs and Cats Home site. The Charity maintains cash balances and short term deposits to fund its ongoing operations. This represents approximately nine months of the envisaged increased expenditure of the Charity in the future. At the balance sheet date, the Charity had free reserves of £1,279,891.
## **Investment policy and objectives**
Surplus funds are placed on deposit with the bank insofar as they may be needed in the foreseeable future to cover the running costs for a period of several months. Funds over and above this are invested to produce a mixture of capital growth and income from low risk investments. These risks comply with ethical standards as set out in the publication "RSPCA Policies on Animal Welfare". The opening value of the investment portfolio of £432,118 on 1 January 2021 compares with the closing value of the portfolio on 31 December 2021 of £442,002. The closing value is stated after net capital disposals of £94,817 during the year. There was an unrealised loss in the value in the portfolio of £409.
## **Coronavirus 2021**
The charity along with the sector in general has been affected by the coronavirus.
In line with Govenment requirements our retail outlets followed Government guideline for non essential trading and remained closed as required, only trading during periods when non essential trading was permitted. The charity has invested in PPE and the training of its staff to ensure that all customers, volunteers and staff are kept safe and protected both now and in the future.
The Cotswolds Dogs and Cats Home has continued to operate in line with Government guidelines
The charity has strong financial procedures and adequate cash resources which continue to be managed closely in line with forecast income. Government financial assistance during the downtime in the retail income has greatly assisted in managing cash flow and resources.
The merger with the RSPCA Gloucester City and District branch in 2020 had a positive impact on the charity cash resources. Longer term plans will be assessed when the Trustees are confident that income levels have consistently returned to normal.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Structure, governance and management**
The Board of Trustees is elected from the membership at the Annual General Meeting held in October 2021 and three officers are elected from the Board of Trustees. All Trustees are briefed on their responsibilities as Trustees prior to their acceptance of the role.
The Board has monthly meetings and major decisions affecting the Branch are passed on a majority vote of those present. Routine bookkeeping is undertaken by experienced in house staff and the Treasurer who report to the Board at their monthly meeting.
The Cotswolds Dogs and Cats Home and the provision of animal welfare is delegated to the Animal Welfare Manager.
Management of the nine charity shops is delegated to a Retail Development Manager and fundraising activities during the year are managed by a Fundraising Manager. All operational managers are designated a board member line manager, and are accountable to the Board of Trustees.
The Trustees who served during the year were: Ms C Blackburn, Honorary Chair Mr S Moxham, Honorary Treasurer Mr M Shields, Honorary Secretary Mrs A Sutcliffe Ms N Hooper Mr R Sellek Mr G Edmonds (Resigned 28 April 2021) Mr I Edwards (Appointed 28 April 2021) Mrs H Li (Appointed 28 April 2021) Mrs J E Guy Ms D Gilleland-Gould (Appointed 24 November 2021)
Mrs J E Guy resigned as Honorary Secretary on 28 April 2021 but remains a trustee.
Mr M Shields was appointed as Honorary Secretary on 28 April 2021.
There have been no related party transactions in the year ended 31 December 2021.
## **Relationship with connected charity**
The Royal Society for the Prevention of Cruelty to Animals (RSPCA) based at Horsham provides specialist administration services and advice to the Branch via an allocated Branch Support Specialist.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Statement of Trustees' responsibilities**
The Trustees 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).
The law applicable to charities in England and Wales 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 branch and of the incoming resources and application of resources of the branch for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the branch and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the branch 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.
## **Ms C Blackburn, Honorary Chair**
Trustee Dated: 28 May 2022
## **Mr S Moxham, Honorary Treasurer**
Trustee Dated: 28 May 2022
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH**
## **Opinion**
We have audited the financial statements of Royal Society for the Prevention of Cruelty to Animals Cotswolds, Gloucester & District Branch (the ‘branch’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
- In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the branch in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the branch’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the Trustees' determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the Trustees is responsible for assessing the branch’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH**
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
## **Other matters**
Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
**TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH**
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **Azets Audit Services**
17 June 2022
**Chartered Accountants Statutory Auditor**
Prospect House 5 May Lane Dursley Gloucestershire United Kingdom GL11 4JH
Azets Audit Services is eligible for appointment as auditor of the branch by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Current financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
346,125
31,360
Charitable activities
**4**
304,756
-
Other trading activities
**5**
1,168,778
-
Investments
**6**
28,065
-
Other income
**7**
-
-
**Total income**
1,847,724
31,360
**Expenditure on:**
Raising funds
**8**
949,479
-
Charitable activities
**9**
619,177
35,916
**Total resources expended**
1,568,656
35,916
Net(losses)/gains on investments
**14**
9,924
-
**Net movement in funds**
288,992
(4,556)
Fund balances at 1 January 2021
5,185,580
21,979
**Fund balances at 31 December 2021**
5,474,572
17,423|**Total**
Total
As restated
**2021**
2020
**£**
**£**
377,485
791,995
304,756
399,783
1,168,778
890,467
28,065
31,598
-
408,466
1,879,084
2,522,309
949,479
955,885
655,093
654,647
1,604,572
1,610,532
9,924
(12,349)
284,436
899,428
5,207,559
4,308,131
5,491,995
5,207,559|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Prior financial year**
|**Prior financial year**|||||
|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds **|**As restated**|
|||**As restated**|||
|||**2020**|**2020**|**2020**|
||**Notes**|**£**|**£**|**£**|
|**Income and endowments from:**|||||
|Donations and legacies|**3**|742,580|49,416|791,996|
|Charitable activities|**4**|399,783|-|399,783|
|Other trading activities|**5**|890,467|-|890,467|
|Investments|**6**|31,598|-|31,598|
|Other income|**7**|408,466|-|408,466|
|**Total income**||2,472,894|49,416|2,522,310|
|**Expenditure on:**|||||
|Raising funds|**8**|955,885|-|955,885|
|Charitable activities|**9**|591,004|63,644|654,648|
|**Total resources expended**||1,546,889|63,644|1,610,533|
|Net gains/(losses) on investments|**14**|(12,349)|-|(12,349)|
|Gross transfers between funds||26,851|(26,851)|-|
|**Net movement in funds**||940,507|(41,079)|899,428|
|Fund balances at 1 January 2021||4,245,073|63,058|4,308,131|
|**Fund balances at 31 December 2021**||5,185,580|21,979|5,207,559|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 12 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**15**
Investments
**16**
**Current assets**
Stocks
**19**
Debtors
**18**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**20**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**22**
Unrestricted funds
**21**|**2021**
**£**
**£**
3,207,490
444,001
3,651,491
9,697
502,142
1,415,433
1,927,272
(86,768)
1,840,504
5,491,995
17,423
5,474,572
5,491,995|**2020**
**£**
**£**
3,307,825
432,118
3,739,943
19,595
379,701
1,149,680
1,548,976
(81,360)
1,467,616
5,207,559
21,979
5,185,580
5,207,559|**2020**
**£**
**£**
3,307,825
432,118
3,739,943
19,595
379,701
1,149,680
1,548,976
(81,360)
1,467,616
5,207,559
21,979
5,185,580
5,207,559|
|---|---|---|---|
||||3,739,943
1,467,616|
||||5,207,559|
||||21,979
5,185,580|
||||5,207,559|
The financial statements were approved by the Trustees on 28 May 2022
Ms C Blackburn, Honorary Chair **Trustee**
Mr S Moxham, Honorary Treasurer **Trustee**
- 13 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**27**
**Investing activities**
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Transfer to cash in investment portfolio
Proceeds on disposal of other investments
Investment income
**Net cash generated from investing**
**activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2021**
**£**
**£**
251,629
(11,983)
-
(107,110)
105,151
28,066
14,124
265,753
1,149,680
1,415,433|**2020**
**£**
**£**
69,930
(48,207)
467,417
-
-
31,598
450,808
520,738
628,942
1,149,680|**2020**
**£**
**£**
69,930
(48,207)
467,417
-
-
31,598
450,808
520,738
628,942
1,149,680|
|---|---|---|---|
||||520,738
628,942|
||||1,149,680|
- 14 -
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The Royal Society for the Prevention of Cruelty to Animals Cotswolds, Gloucester and District Branch (the charity) is an unincorporated charitable association and a separately registered charity affiliated to the Royal Society for the Prevention of Cruelty to Animals (the Society), carrying out direct animal welfare work in Gloucestershire and the South Cotswolds area in accordance with the policies of the Society.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the branch's governing document, the Charities Act 2011 and "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)". The branch is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the branch. Monetary amounts in these financial statements are rounded to the nearest £.
The Royal Society for the Prevention of Cruelty to Animals Cotswolds, Gloucester and District Branch 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.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the branch has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the branch is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Legacies are recognised on receipt or otherwise if the branch has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Cash donations are recognised on receipt. Other donations are recognised once the branch has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 15 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure and it is probable that settlement is required. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
All resources expended are inclusive of irrecoverable VAT.
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 of an indirect nature necessary to support them.
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustee’s meetings and reimbursed expenses.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Freehold land and buildings|2% on cost|
|---|---|
|Clinic equipment|25% on cost|
|Office equipment & furniture|25% on cost|
|Motor vehicles|33.3% on cost|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the branch reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 16 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
Financial instruments are recognised in the branch's balance sheet when the branch becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the branch’s contractual obligations expire or are discharged or cancelled.
## **1.12 Taxation**
The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to the charitable objects.
- 17 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.13 Provisions**
Provisions are recognised when the branch has a legal or constructive present obligation as a result of a past event, it is probable that the branch will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
## **1.14 Employee benefits**
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the branch is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.15 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.16 Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
## **2 Critical accounting estimates and judgements**
In the application of the branch’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 18 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
8,200
31,360
Legacies receivable
313,925
-
Donated facilities &
services
24,000
-
Merger with Gloucester
-
-
346,125
31,360|**Total** Unrestricted
Restricted
funds
funds
As
As restated
**2021**
2020
2020
**£**
£
£
39,560
9,170
49,416
313,925
176,968
-
24,000
45,000
-
-
511,441
-
377,485
742,579
49,416|Total
restated
2020
£
58,586
176,968
45,000
511,441|
|---|---|---|
|||791,995|
## **Donated facilities & services**
Donated facilities & services comprises free accommodation for two of the charity's shops in Tetbury and Cirencester, which has been kindly provided by Tesco Stores Ltd. A corresponding amount is included in trading expenditure.
A presentational adjustment has been made to the prior year's figures to disclose the notional rent for 2020. The Prior Period Adjustment note refers.
- 19 -
||**Total**|**2020**|**As restated**|**£**|56,477|343,306|399,783|||147,471|195,835|343,306|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**Covid 19**|**support**|**2020**|**£**|-|343,306|343,306|||147,471|195,835|343,306|
||||||||||||||
||**Charitable**|**animal welfare**|**2020**|**£**|26,275|-|26,275|||-|-|-|
||**Adoptions**||**2020**|**£**|30,202|-|30,202|||-|-|-|
||**Total**|**2021**||**£**|73,481|231,275|304,756|||88,419|142,856|231,275|
||**Covid 19**|**support**|**2021**|**£**|-|231,275|231,275|||88,419|142,856|231,275|
||**Charitable**|**animal welfare**|**2021**|**£**|25,977|-|25,977|||-|-|-|
||**Adoptions**||**2021**|**£**|47,504|-|47,504|||-|-|-|
|**Charitable activities**|||||Income from charitable activities|Covid 19 support|||**Grants**|Coronavirus Job Retention Scheme|Retail support grants||
|**4**|||||||||||||
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **5 Other trading activities**
|**Other trading activities**|||
|---|---|---|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
|||As restated|
||**2021**|2020|
||**£**|£|
|Fundraising events|284,675|169,974|
|Charity shop income from sale of donated goods|884,103|720,493|
|Other trading activities|1,168,778|890,467|
## **6 Investments**
|**Investments**|||
|---|---|---|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Rental income|15,070|15,537|
|Income from listed investments|12,522|14,116|
|Interest receivable|473|1,945|
||28,065|31,598|
|**Other income**|||
||**Total**|Total|
||**2021**|2020|
||**£**|£|
|Net gain on disposal of tangible fixed assets|-|408,466|
## **7 Other income**
- 21 -
**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **8 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
|||As restated|
||**2021**|2020|
||**£**|£|
|Fundraising and publicity|||
|Other fundraising costs|11,263|6,308|
|Staff costs|56,531|37,288|
|Depreciation and impairment|27,755|31,026|
|Support costs|10,851|12,104|
|Fundraising and publicity|106,400|86,726|
|Trading costs|||
|Operating charity shops|366,041|359,129|
|Other trading activities|18,287|4,080|
|Staff costs|409,395|452,565|
|Support costs|46,152|51,202|
|Trading costs|839,875|866,976|
|Investment management|3,204|2,183|
||949,479|955,885|
- 22 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **9 Charitable activities**
|**Adoptions**
**Charitable**
**animal**
**welfare**
**Rosewell**
**Clinic**
**Cotswolds**
**Dogs &**
**Cats Home**
**£**
**£**
**£**
**£**
Staff costs
-
-
426
346,357
Depreciation and
impairment
-
-
-
63,288
Drugs and veterinary
fees
-
9,257
7,395
69,342
Travel and mileage
-
-
229
3,685
Welfare costs
-
-
-
-
Rates
-
-
-
5,489
Animal behaviourist
-
-
-
-
Animal equipment
purchases
-
-
-
2,597
Bank charges
-
-
-
698
Cleaning
-
-
-
13,518
Consumables
-
-
-
18,396
Heat and light
-
-
-
18,293
Repairs and
maintenance
-
-
-
26,058
Admin
-
-
-
12,055
Training
-
-
-
684
Sundry expenses
-
-
-
323
-
9,257
8,050
580,783
Share of support costs
(see note 10)
2,984
11,936
12,207
27,126
Share of governance
costs (see note 10)
151
605
619
1,375
3,135
21,798
20,876
609,284
**For the year ended 31 December 2021**
Unrestricted funds
3,135
21,798
20,876
573,368
Restricted funds
-
-
-
35,916
3,135
21,798
20,876
609,284
**For the year ended 31 December 2020**
Unrestricted funds
3,481
43,032
19,245
525,246
Restricted funds
-
-
-
63,644
3,480
43,032
19,245
588,890|**Total**
**2021**
**£**
346,783
63,288
85,994
3,914
-
5,489
-
2,597
698
13,518
18,396
18,293
26,058
12,055
684
323
598,090
54,253
2,750
655,093
619,177
35,916
655,093|**Total**
**2020**
**£**
328,226
61,015
88,425
3,247
78
5,276
346
1,348
666
16,155
22,151
20,495
32,442
10,664
-
808|
|---|---|---|
|||591,342
60,518
2,787|
|||654,647|
|||591,004
63,644|
|||654,647|
- 23 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**10**
**Support costs**
Salaries
Depreciation
Finance costs
IT costs
Staff related costs
Admin
Premises
Legal and professional
fees
Audit fees
Analysed between
Fundraising
Trading
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
46,449
-
21,274
-
601
-
7,693
-
1,101
-
28,103
-
663
-
2,622
-
-
5,500
108,506
5,500
10,851
-
43,402
2,750
54,253
2,750
108,506
5,500|**2021**
**£**
46,449
21,274
601
7,693
1,101
28,103
663
2,622
5,500
114,006
10,851
46,152
57,003
114,006|Support
costs
Governance
costs
£
£
49,120
-
7,130
-
528
-
9,503
-
4,991
-
14,487
-
3,426
-
31,851
-
-
5,575
121,036
5,575
12,104
-
48,414
2,788
60,518
2,787
121,036
5,575|2020
£
49,120
7,130
528
9,503
4,991
14,487
3,426
31,851
5,575|
|---|---|---|---|---|
|||||126,611|
|||||12,104
51,202
63,305|
|||||126,611|
## **11 Net movement in funds**
||||
|---|---|---|
|**Net movement in funds**|**2021**|**2020**|
||**£**|**£**|
|Net movement in funds is stated after charging/(crediting)|||
|Fees payable to the company's auditor for the audit of the company's|||
|financial statements|5,500|5,575|
|Depreciation of owned tangible fixed assets|96,765|99,171|
|Loss/(profit) on disposal of tangible fixed assets|15,552|(408,466)|
|Operating lease charges|175,304|205,293|
## **12 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the branch during the year.
- 24 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **13 Employees**
The average monthly number of employees during the year was:
|Charitable activities
Trading
Support
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2021**
**2020**
**Number**
**Number**
20
21
24
26
4
4
48
51
**2021**
**2020**
**As restated**
**£**
**£**
795,717
809,207
50,540
48,811
12,901
13,181
859,158
867,199|**2020**
**Number**
21
26
4|
|---|---|---|
|||51|
|||867,199|
There were no employees whose annual remuneration was £60,000 or more.
## **14 Net (losses)/gains on investments**
|Revaluation of investments
Gain/(loss) on sale of investments|**2021**
**£**
(409)
10,333
9,924|**2020**
**£**
(12,349)
-|
|---|---|---|
|||(12,349)|
- 25 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**15**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Clinic**
**equipment**
**Office**
**equipment &**
**furniture**
**Motor vehicles**
**£**
**£**
**£**
**£**
**Cost**
At 1 January 2021
3,454,980
21,620
218,141
35,887
Additions
-
750
11,233
-
Disposals
-
(2,789)
(57,022)
-
At 31 December 2021
3,454,980
19,581
172,352
35,887
**Depreciation and impairment**
At 1 January 2021
239,234
16,791
146,342
20,439
Depreciation charged in the year
56,368
4,491
31,516
4,390
Eliminated in respect of disposals
-
(2,772)
(41,489)
-
At 31 December 2021
295,602
18,510
136,369
24,829
**Carrying amount**
At 31 December 2021
3,159,378
1,071
35,983
11,058
At 31 December 2020
3,215,747
4,829
71,801
15,448
**16**
**Fixed asset investments**
**Listed**
**investments**
**Unlisted**
**investments**
**Cash in**
**portfolio**
**£**
**£**
**Cost or valuation**
At 1 January 2021
370,118
62,000
-
Valuation changes
(409)
-
-
Reclassification
-
-
107,110
Disposals
(94,817)
-
-
At 31 December 2021
274,892
62,000
107,110
**Carrying amount**
At 31 December 2021
274,892
62,000
107,110
At 31 December 2020
370,118
62,000
-
**17**
**Financial instruments**
**2021**
**£**
**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
274,892|**Total**
**£**
3,730,628
11,983
(59,811)
3,682,800
422,806
96,765
(44,261)
475,310
3,207,490
3,307,825
**Total**
**£**
432,118
(409)
107,110
(94,817)
444,002
444,002
432,118
**2020**
**£**
370,118|
|---|---|
- 26 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**18**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**19**
**Stocks**
Stocks
**20**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2021**
**£**
24,495
18,420
459,227
502,142
**2021**
**£**
9,697
**2021**
**£**
13,737
27,837
-
45,194
86,768|**2020**
**£**
12,282
29,314
338,105|
|---|---|---|
|||379,701|
|||**2020**
**£**
19,595|
|||**2020**
**£**
11,904
19,688
1,049
48,719|
|||81,360|
- 27 -
|**ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER &**
**DISTRICT BRANCH**
**INCORPORATING THE COTSWOLDS DOGS AND CATS HOME**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
**_FOR THE YEAR ENDED 31 DECEMBER 2021_**|**21**
**Unrestricted funds**
**Movement in funds**
**Movement in funds**
**Balance at**
**1 January 2020**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Revaluations,**
**gains and**
**losses**
**Balance at**
**1 January 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Revaluations,**
**gains and**
**losses**
**Balance at**
**31 December**
**2021**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
Unrestricted fund
4,245,073
2,472,894
(1,546,889)
26,851
(12,349)
5,185,580
1,847,724
(1,568,656) (1,000,000)
9,924
4,474,572
Designated fund
-
-
-
-
-
-
-
-
1,000,000
-
1,000,000
4,245,073
2,472,894
(1,546,889)
26,851
(12,349)
5,185,580
1,847,724
(1,568,656)
-
9,924
5,474,572|
|---|---|
|**Restricted funds**|The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:|**Movement in funds**
**Movement in funds**|**Balance at**
**Incoming**
**Resources**
**Transfers**
**Balance at**
**Incoming**
**Resources**
**Balance at**|**1 January 2020**
**resources**
**expended**
**1 January 2021**
**resources**
**expended**
**31 December**|**2021**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|Veterinary suite
32,496
-
(5,171)
(23,811)
3,514
-
(3,514)
-|Barn flooring
562
-
-
-
562
-
(562)
-|New van purchase
20,000
-
(2,111)
(2,440)
15,449
-
(4,390)
11,059|Veterinary bills
10,000
44,250
(54,146)
-
104
10,500
(10,604)
-|Radios
-
3,000
(50)
(600)
2,350
-
(600)
1,750|Dryer
-
-
-
-
-
1,000
-
1,000|Veterinary nurse costs
-
-
-
-
-
6,360
(4,657)
1,703|Maintenance & heating
-
-
-
-
-
3,500
(3,472)
28|Vouchers
-
-
-
-
-
10,000
(8,117)
1,883|Other
-
2,166
(2,166)
-
-
-
-
-|63,058
49,416
(63,644)
(26,851)
21,979
31,360
(35,916)
17,423||Veterinary Suite - for veterinary suite equipment at The Cotswold Dogs and Cats Home|Van - to purchase a new van for the charity|Veterinary bills - to assist with veterinary costs|Radios - to purchase radios for charity staff|Dryer - to purchase a dryer|Veterinary nurse costs - to purchase a laptop and fund the employment of a veterinary nurse|Maintenance & heating - to fund maintenance costs at the centre|Vouchers - to fund neutering and help vouchers|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**22**|||||||||||||||||||||||||||
|**DISTRICT BRANCH**
**INCORPORATING THE COTSWOLDS DOGS AND CATS HOME**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
**_FOR THE YEAR ENDED 31 DECEMBER 2021_**|**23**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**fund**
**Restricted**
**funds**
**Total**
Restricted
fund
Unrestricted
funds
Designated
fund
Total
**2021**
**2021**
**2021**
**2021**
2020
2020
2020
2020
**£**
**£**
**£**
**£**
£
£
£
£
Fund balances at 31 December 2021 are
represented by:
Tangible assets
3,194,681
-
12,809
3,207,490
17,799
3,290,026
-
3,307,825
Investments
444,001
-
-
444,001
-
432,118
-
432,118
Current assets/(liabilities)
735,890
1,000,000
4,614
1,840,504
4,180
1,463,436
-
1,467,616
4,374,572
1,000,000
17,423
5,491,995
21,979
5,185,580
-
5,207,559|
|---|---|
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **24 Operating lease commitments**
At the reporting end date the branch had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2021**
**£**
89,650
11,333
100,983|**2020**
**£**
139,200
103,934|
|---|---|---|
|||243,134|
## **25 Events after the reporting date**
In March 2022 the charity was informed that it was a 50% beneficiary of a residual estate with an estimated total value of £270,000. Although the testatrix died in August 2021, probate was not granted until January 2022 and therefore no amounts in respect of this legacy have been accounted for in the year ended 31 December 2021.
In May 2022 the charity was informed it was a beneficiary of a residual estate. The estate has numerous properties and is not yet valued. Probate has not yet been granted and the legacy is therefore not included in the 2021 accounts.
## **26 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
- 31 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**27**|**Cash generated from operations**|**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
||Surplus for the year|284,436|899,428|
||Adjustments for:|||
||Investment income recognised in statement of financial activities|(28,065)|(31,598)|
||Loss/(gain) on disposal of tangible fixed assets|15,552|(408,466)|
||Transfer of fixed assets|-|(250,000)|
||Transfer of investments|-|(149,877)|
||Gain on disposal of investments|(10,333)|-|
||Fair value gains and losses on investments|409|12,349|
||Depreciation and impairment of tangible fixed assets|96,765|99,171|
||Movements in working capital:|||
||Decrease/(increase) in stocks|9,898|(7,705)|
||(Increase) in debtors|(122,441)|(113,730)|
||Increase in creditors|5,408|20,358|
||**Cash generated from operations**|251,629|69,930|
|28|**Analysis of changes in net funds**|||
||The branch had no debt during the year.|||
|**29**|**Prior period adjustment**|||
- 32 -
## **ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS COTSWOLDS, GLOUCESTER & DISTRICT BRANCH INCORPORATING THE COTSWOLDS DOGS AND CATS HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **29 Prior period adjustment**
## **(Continued)**
## **Changes to the profit and loss account**
|**Changes to the profit and loss account**|||||
|---|---|---|---|---|
|||**Period ended 31 December**||**2020**|
|||**As previously**|**Adjustment**|**As restated**|
|||**reported**|||
|||**£**|**£**|**£**|
|**Income from:**|||||
|Donations and legacies|**1**|746,996|45,000|791,996|
|Charitable activities|**3**|56,477|343,306|399,783|
|Other trading activities|**3**|1,233,773|(343,306)|890,467|
|Investments||31,598|-|31,598|
|Other income||408,466|-|408,466|
|||2,477,310|45,000|2,522,310|
|Expenditure on:|||||
|Raising funds|**1,2**|910,885|45,000|955,885|
|Charitable activities||654,648|-|654,648|
|||(1,565,533)|(45,000)|(1,610,533)|
|Net gains on investments||(12,349)|-|(12,349)|
|Income/expenditure for the year||899,428|-|899,428|
## **Notes to reconciliation**
- **1** Recognition of donated facilities & services (Note 3) **2** Reanalysis of staff costs totalling £508,253 (Notes 8 & 13)
- **3** Reanalysis of Covid 19 support grants (Note 4)
- 33 -