2023-03-31-accounts

Registered number: 00816674 Charity number: 237696

The Raystede Centre for Animal Welfare Limited (A Company Limited by Guarantee)

Trustees' Report and Financial Statements

For the Year Ended 31 March 2023

1

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Contents

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1 - 2
Trustees' Report	3 - 14
Independent Auditors' Report on the Financial Statements	15 - 19
Consolidated Statement of Financial Activities	20
Consolidated Balance Sheet	21
Charity Balance Sheet	22
Consolidated Statement of Cash Flows	23
Notes to the Financial Statements	24 - 46

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2023

Trustees

D H Jones, Chair (appointed 30 June 2022)

J S Amies, Vice Chair H M Tracey, Treasurer

S Derrick S J Elliott (resigned 8 September 2022)

J E Kelly (resigned 15 March 2023)

I H A Kerr Dr S A Leggett S M Walton (resigned 3 March 2023) H Paxton (appointed 3 November 2022) P J Vine-Hall (resigned 30 June 2022)

Company registered number

00816674

Charity registered number

237696

Registered office

Raystede Ringmer Lewes East Sussex BN8 5AJ

Chief executive officer

S R Smith

Honorary positions

Patron-in-Chief Andrew Blackman, Lord-Lieutenant of East Sussex

Honorary President Morgan Williams

Honorary Vice-President Jonathan Vine-Hall

Independent auditors

Kreston Reeves LLP Chartered Accountants Statutory Auditor 37 St Margaret's Street Canterbury Kent CT1 2TU

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers (continued) For the Year Ended 31 March 2023

Bankers

National Westminster Bank Plc 11 High Street Lewes East Sussex BN7 2LH

Solicitors

Adams & Remers LLP Trinity House School Hill Lewes Sussex BN7 2NN

Coffin Mew LLP 11 Prince Albert Street Brighton BN1 1HE

Investment manager

Charles Stanley & Co. Limited 55 Bishopsgate London EC2N 3AS

Vet

Dr Saskia Krawcynski MRCVS (resigned 14 April 2022) Dr Alice Hasell MRCVS (appointed 18 July 2022)

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report For the Year Ended 31 March 2023

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Companies Act 2006, 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 (effective 1 January 2019).

Our Vision, Our Mission and Our Values

Raystede’s Vision

A world where animals are understood and cared for with respect, compassion and kindness.

Raystede’s Mission

We give animals new beginnings and better lives through rehoming, rehabilitation and sanctuary, and give people the support and knowledge they need to treat animals with care and respect.

What is Raystede?

• Raystede is your local animal welfare charity, based in central Sussex and working throughout the region.

• Our focus is always on each animal’s needs, first and foremost.

• We aspire to the highest animal welfare standards and offer specialist care and rehoming for a wide range of pets and animals. We also rescue animals at risk or support people who are no longer able to care for their animals. Sometimes it is better for animals to stay with Raystede in our sanctuary.

• Nobody else locally cares for the same range of animals and offers the same scope of support.

• Our site is open to Raystede supporters and offers a chance to share the natural surroundings the animals we care for call home and support our work.

• It is not a zoo, a farm, or a fun park; it is a tranquil place many animals call home.

• Raystede is a place where adults and children alike can learn about animal welfare. It underpins our education programmes on site and in the community because we are passionate about the animals at Raystede and about effecting long-lasting change in how we all care and respect animals.

Raystede’s Values

Caring & compassionate: we take good care of animals and help other people to take care of animals too, with empathy and without judgement.

Committed: we are committed to giving animals a better life and helping everyone respect and care for animals. Professional: we aspire to the highest standards of professionalism in every aspect of our work and encourage the same in others.

Passionate: we are passionate about our work, our team, our community; about sharing our knowledge; in our belief that all animals should be free to enjoy the best possible quality of life while bringing joy and fun to our lives.

Inspiring: we aim to inspire ourselves and others with the work we do to give animals new beginnings and a better life.

Structure, Governance and Management

These consolidated accounts include the activities of Raystede Centre for Animal Welfare Limited, Raystede Animal Services Limited and Raystede Centre Construction Limited.

Raystede Centre for Animal Welfare Limited was incorporated in 1964 and operates Raystede's charitable activities. It is a company (No. 00816674) limited by guarantee to £10 per member in addition to a registered Charity (No. 237696) governed by Memorandum and Articles of Association.

Raystede Animal Services Limited (No. 03182365) was incorporated in 1996 to operate Raystede's commercial trading activities. The principal activities of the company are the operation of shops and cafe facilities, and provision of cremation services for animals.

Raystede Centre Construction Limited (No. 04838919) was incorporated in 2003 and operates as a general commercial company to assist the Welfare and Services activities and facilitate building projects as required. The company is currently dormant.

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

The Council of Management (also referred to as Board of Trustees) has a minimum of 5 and a maximum of 10 Directors. The Articles of Association were revised in 2019 to change the term of service of trustees to a maximum of 9 years made up of three terms of three years subject to some specific exceptions.

Key Management Personnel

The Council of Management is responsible for the management and financial affairs of the Charitable Company. The Trustees (who are also the Directors’ of Raystede Centre for Animal Welfare Limited for the purpose of company law) are the Council of Management. The Board is supported by a full time Chief Executive and a small management team, to whom day-to-day operational management decisions are delegated.

Our staff and volunteers are essential for the delivery of a high-quality service both for animals and people and we currently have more than 150 volunteers who regularly help Raystede both on and off site. At the end of March 2023, we had a total of 129 employees of which 31 were on casual contracts. 53 of our contracted staff work full time hours.

Our organisational structure and management structure is as follows:

The Board of Trustees meet in full bi-monthly with other ad-hoc meetings for strategy and budget matters.

Recruitment and Selection of Trustees Procedure

Should a vacancy on the Board of Trustees arise, the Board will advertise the position and also consider individuals who may have been identified as potential candidates via contacts. Potential candidates are sent an application pack with a skill-set audit to determine how the candidate’s skills complement the existing Board’s current and future needs. Candidates selected will be given a tour of the site by the Chief Executive and then interviewed by a panel of at least two Trustees including the Chairman to ensure best candidate selection. When selected, a candidate will then be proposed to the Board for co-opting or appointment.

• Raystede values diversity as an important factor for accountability and public confidence and we will seek to maintain diversity across our Council of Management.

• We undertake assessments of the existing Trustees to identify what skills are required by the Council of Management to perform effectively, and whether there are any gaps.

• We use Trustee "job descriptions", or similar guidance, to provide prospective Trustees with a balanced account of what the role of Trustee entails, including their duties and responsibilities as a Trustee.

• We ensure that all new Trustees are aware of the legal rules on eligibility to serve as a Trustee, bearing in mind that it is a criminal offence to serve as a Trustee if disqualified from doing so.

• We follow Charity Commission published guidance on our obligations to check the eligibility of new Trustees and on specific recommended checks we need to make.

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

• We have arrangements in place for identifying and managing conflicts of interest and ensure that new Trustees are aware of these arrangements.

Induction and Training of Trustees Procedure

Once a potential Trustee is co-opted or appointed they will meet with the Chief Executive who will provide an overview of the work of Raystede.

All Trustees are invited to meet with key members of staff and to discuss all aspects of their work during a tour of the centre.

Regular visits and communication are always encouraged to ensure Trustees can develop their knowledge and understanding of our work.

An induction pack for potential Trustees containing a range of documents including the Charity’s governing document has been prepared. Also, all Trustees are provided with relevant Charity Commission publications on the legal duties and responsibilities of Charity Trustees and the Charity’s Governance Framework.

All Trustees are invited to undertake regular training and development related to their role. Over the past year, Raystede Trustees have attended the following training: Charity Trustee induction & refresher (run by NCVO); Crisis communications & media training; a national conference for Charity Trustees.

Currently the Board of Trustees are seeking to recruit Trustees with experience in financial management, marketing or business development.

Governance

• In early 2018 Raystede formally adopted a Governance Framework to cover all aspects of the Board’s responsibilities.

• The Board of Trustees agreed in February 2018 to have a formal review of the Charity’s Articles of Association to address recommendations made in the Charity Governance Code issued in July 2017. In December 2018 at the Annual General Meeting the members voted to update and modernise the language used in the Objects of the Charity which was subsequently approved by the Charity Commission following a separate Extraordinary General Meeting on the 25th of April 2019 to agree minor modifications recommended by the Charity Commission. In addition, Trustees’ length of tenure was capped at 9 years’ service (3 x 3 years).

• A finance committee has been established which meets at least 4 times each year.

Public Benefit

The Board of Trustees has due regard of the Charities Act 2011 and the Charity Commission guidance on public benefit. This is reflected in the review of the activities of the Charity contained in this report.

STRATEGIC REPORT

Objectives and Activities

Raystede was formally established in 1952. It was formed with the charitable objects to prevent and relieve cruelty to animals and to protect them from unnecessary suffering and to promote and encourage the love of animals and of their proper care and treatment through example and education.

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Our charitable activities to deliver these objects have always broadly fallen into three categories:

1. Rescuing and rehoming animals.

2. Providing sanctuary and lifetime homes for animals in need.

3. Offering education and learning activities to promote animal welfare.

Raystede gives animals new beginnings and a better life through rehoming, rehabilitation and sanctuary. People are given the support and knowledge they need to treat animals with care and respect.

The general approach of the Charity is that domestic pet animals are taken into care at Raystede when they can no longer be cared for by their owners or they are deemed to be abandoned or stray. Once evaluated by trained staff members, they are placed into homes as pets via a process of adoption, or in the case of our equines by loaning which leads to adoption. Some animals cannot be rehomed or take a long time to rehome so, if able to thrive in our care, they are offered a sanctuary home at Raystede for as long as it is in the best interests of their welfare. At Raystede, sanctuary applies particularly to tortoise, terrapins, and exotic birds from the parrot family.

The need to keep abreast of current animal behavioural research and applied behavioural techniques has become very important and Raystede has a training plan in place to ensure standards are both maintained and improved. Enrichment activities have been embedded into daily welfare routines to ensure that the highest standards of welfare are practised.

Our education & learning programme was traditionally focused on providing young people attending schools or youth groups within the local community with a greater understanding and the skills needed to be a responsible pet owner. Our programmes are highly inclusive and accessible to people of all backgrounds, ages and abilities. The education programme also seeks to promote good animal welfare to all visitors to the Raystede site through engaging activities and experiences. More recently, we are broadening our approach to offer education & learning to the wider community (away from the main site) through a range of digital projects and community outreach activity.

We have a special and much-loved site in East Sussex and we use the Raystede site to further our charitable purposes, to engage with the local community and to maximise our income. We have traditionally operated commercial businesses such as a café and shops on the site to raise money from general visitors for the Charity. During 2022/23, we continued to develop a new and very successful Charity shop off-site in the nearby town of Lewes. We also secured new shops premises in Uckfield and Hailsham, both of which will open in Summer 2023. Raystede also runs a highly regarded and much-loved pet crematorium business known as Peaceways on land nearby to the main site.

Raystede has many wonderful and loyal supporters who give generously to the Charity. Legacy income has traditionally been a key source of income and this remains true today. We work hard to retain and develop our loyal supporters and at the same time explore opportunities for new fundraising activity to support our work. To this end we invest in fundraising, working within an agreed strategy to help create new income streams. We maintain ethical standards in our fundraising practices and have developed a code of conduct for all areas of engagement with supporters and donors ensuring that we are both transparent and aligned to current best practice within the regulatory framework.

Raystede’s donor charter is as follows:

• We promise never to give, swap, rent or otherwise pass on personal details to other third-party organisations.

• We always welcome communication with supporters and promise to respond to all queries in a timely manner.

• We always act with integrity.

• We guarantee that all donations we receive will be spent in a manner that is deemed to be for the maximum benefit of the animals in our care.

• We will always endeavour to act in a transparent and open fashion with our donors.

• We constantly work to ensure our administration is as efficient and cost-effective as possible.

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

• We will always act in accordance with our mission to give animals a better life through rehoming, rehabilitation and sanctuary and give people the support and knowledge they need to treat animals with care and respect.

Where third parties are employed as fundraising partners they are always contractual in order to ensure that they are compliant with all regulations. Where possible, fundraising is led by our staff. Third party companies specialising in the rental of data are not currently a part of our fundraising activity.

The Charity has received 2 complaints regarding its fundraising activities during the year. These were investigated and resolved.

Achievements and Performance

Three key factors had a significant overall impact on our performance and operations in 2022/23: the ongoing long-term consequences of the COVID pandemic; Avian Influenza regulations; the cost-of-living crisis including rising energy prices. These factors impacted animal intake, rehoming, operational costs, income generation, staff and volunteer recruitment/retention.

In 2022/2023 we continued to see ongoing long-term effects from the Covid-19 pandemic with increased demand on our Kennels to accept adolescent dogs with behavioural problems frequently caused by poor socialisation, or an unsettled early start in life. This demand was faced in conjunction with many people catching up on lost time to travel in the summer of 2022 following the end of Covid-19 restrictions earlier in the year. This limited our ability to rehome animals of all species as many people did not have the time to introduce new animals into their lives.

It was hoped that after the summer, rehoming would begin to normalise. However, the cost-of-living crisis which emerged throughout 2022, unfortunately took hold. This resulted in further impact on our ability to rehome animals which sadly coincided with a 24% increase in demand for animal intake across all species, and a 68% rise in demand for us to assist with dogs. This followed greatly increased demand to assist with animals year-onyear in the previous year 2021/2022.

9

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Although rehoming was very slow, everything was done to help as many animals as possible. This included focussing a lot of effort into rehabilitating and rehoming long-stay dogs with behavioural issues which are known as our STAR (Special Training and Activity Requirements) dogs including a large cross-breed dog called Elder who was in our care for nearly 15 months until being successfully rehomed. Such achievements are significant as availability of assistance for dogs such as Elder in rescue is limited. We were also able to assist 46 cats via a microchipping day in December 2022.

The number of chickens we were able to assist was also heavily impacted by the ongoing effects of Avian Influenza which severely restricted our ability to responsibly rehome birds, and reduced the amount of collaborative work we were able to do with other charities.

In addition to animals rehomed, Raystede also assists a larger group of animals that cannot be rehomed or may take a long time to rehome. If such animals are able to thrive in our care, they are offered a sanctuary home at Raystede for as long as it is in the best interests of their welfare. Sanctuary applies particularly to tortoise, terrapins, and exotic birds from the parrot family.

To demonstrate our wider impact below is a representation of animals ‘in and out’ alongside the total number of animals assisted in 2022/23. In 2022/2023 we assisted 1,835 animals which is a 3% rise compared to 2021/2022 when we assisted 1,778. This rise was mainly due to dog behaviour consultations carried out in the community as part of our Education outreach work in an attempt to avoid dogs with behavioural issues being relinquished from their homes. We were also able to assist 14% more cats in 2022/2023 with that figure rising to 312 from 274 in 2021/2022:

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The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

During 2022/23, our education & learning focus broadened to encompass new activities for a wider range of audiences. On-site activity was affected not only by the continuing COVID pandemic but also by Avian Flu restrictions which have limited what we can offer visitors and school groups. There have been some significant achievements to build on:

• Raystede went out into the local community with a total of 48 education & learning events (a sixfold increase) and engaged with 2,345 people.

• 323 dog behaviour consultations were provided in a community setting.

• At the Raystede site, we organised and marketed ‘Family Learning Days’ during the school holidays and on these specific days, we engaged with more than 5,200 visitors.

• We ran a daily guided tour on the main site delivered by volunteers and staff – more than 600 people attended this tour.

• During 2022/23, we worked with 1,093 students through a mixture of outreach and on-site visits.

• We were able to welcome 99 young people to our site with SEMH (Social, Emotional and Mental Health) statements.

• Our education & learning website pages have been further improved, including a number of specific resources for online use and traffic to those pages has risen. The learning pages of our website now comprise a full catalogue of virtual pet care resources including 5 interactive pet care guides developed in 2022/23. Engagement with education themed social media posts has been healthy.

• During 2022/23 we further developed our ‘adoption events’ aimed at potential dog rehomers - these have been popular and consistently fully booked. 208 people have attended the workshops and these have developed into a monthly event at Raystede.

• Since January 2023 and in response to the animal welfare crisis, Raystede has been offering weekly drop-in Adoption Information Mornings in order to talk about pet adoption, fostering, help with application forms or explanation of the process. These have been held on the main site and also in our Lewes shop.

• Education staff took part in local radio sessions.

During the year, the Trustees continued to review and discuss a range of strategic issues including animal welfare, education, visitor operations, income generation and marketing. Since early 2021, we have been reviewing Raystede’s pay policy and approach to staff reward in general – the results of this project were implemented in July 2022 and a new pay policy was agreed.

During 2022/23 the Trustees decided to invest in a new facility for terrapins at Raystede. This will allow us to give sanctuary to many more terrapins and offer an opportunity for education work. This project has commenced and will be complete in 2023.

Visitor operations on-site during 2022/23 were affected by a number of factors including bad weather, very hot weather and Avian Flu restrictions (which meant that our Aviaries and Sanctuary/lakes area were closed to visitors for most of the year). Visitor footfall (60,000 visitors in 22/23) was particularly affected by the fact that everyone could go on holiday in Summer 2022. However, in June 2022 we ran the Summer Fair, the first such event since 2019 and this was very successful and popular. It has been agreed that the visitor operation has 3 purposes which need to be carefully balanced – education & learning; engaging with supporters and the local community; generating financial benefit for the Charity.

The Charity’s fundraising and legacy strategy (agreed in 2020/21) was progressed in 2022/23 and achievements included another significant increase in the number of regular givers. The fundraising plans partly depend on recruiting an expanded team of income stream specialists and staff recruitment has been very challenging over the past year. A number of well-attended events were held on site for Raystede Friends and other regular givers including Animal Sponsors.

The strategy for commercial and trading activities was also developed with the aim of expanding activities away from the main Raystede site and other traditional commercial activities. Our new shop in Lewes is now fully established and we are opening in Uckfield and Hailsham in 2023. Online trading was expanded through eBay. Our Peaceways pet crematorium service grew to assist more than 1,000 pet-owners in 2022/23.

11

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

A separate marketing function has been established within Raystede and a Head of Marketing was recruited in 2021 who has undertaken research and produced a marketing & PR strategy to support our key strategic and operational objectives. We have grown our social media followers/reach and improved our website. During 2022/23, Raystede featured on television on 7 occasions and many more radio interviews were delivered.

During 2022, Raystede celebrated 70 years of helping animals and this anniversary enabled the charity to remind the public about our heritage and achievements. As part of our anniversary celebrations and to commemorate our Founder’s birthday, BBC Radio Sussex broadcast a whole show live from Raystede in April 2022. We were delighted to welcome Mr Andrew Blackman, the Lord-Lieutenant of East Sussex to Raystede in May 2022 for a special visit during which an oak tree was planted to celebrate HM Queen Elizabeth’s Platinum Jubilee as well as our own 70[th] anniversary. We are thrilled that the Lord-Lieutenant of East Sussex has agreed to become the honorary Patron-in-Chief of Raystede. Later in 2022, we were pleased to welcome Sara Stonor, the Vice LordLieutenant with a large group of East Sussex Deputy Lieutenants for a private and personalised visit.

Financial Review

Raystede is financed through, and dependent solely on, the generosity of individuals to continue to deliver its work in animal welfare and education. It receives no National Lottery or Government funding.

The group incurred a deficit of £859k before investment losses, compared to a surplus last year of £173k. Fundraising income increased overall by 12% against last year, showing growth in regular giving of £96k resulting from our investment in face-to-face donor recruitment. However, general donations were seen to be impacted by the cost-of-living crisis, falling 35% against last year. The downturn in the challenge event market reflected the economic climate and a £36k fall in income. Cash received from legacies also slowed significantly during the year bringing in £773k compared to £1,379k in 2021/22. Investment income increased by £30k against prior year, contributing £425k. The first full year of trading by the Charity’s offsite shop in Lewes exceeded expectations and strengthened the planned commercial income to support diversification and future sustainability of our income streams.

Restricted income donations of £44k were received during the year (2021/22 £52k)

Total expenditure increased year on year due to continued investment in our commercial and fundraising activities. Tight control ensured that charitable expenditure did not exceed the budget set at the beginning of the year.

The Board of Trustees have reviewed income and expenditure over the next five years with the objective of reducing the reliance on legacy and investment income, the first of which fluctuates considerably from year to year. In addition, the costs related to National Living Wage and National Insurance increases, along with other salary/reward adjustments, will need to be covered by new income in the immediate and longer term. We expect expenditure to exceed income for the next five years and have sufficient funds set aside in our reserves to fund this shortfall. We have undertaken another review of our income generation strategy to ensure that we are maximising our engagement with our stakeholders, and the Charity plans to invest in and increase non-restricted income through its commercial and fundraising operations over the next five years.

Our investment portfolio started the year with a value of £14.9m (£14.6m investments and £0.3m cash awaiting investment). Cash drawdowns of £0.5m were made during the year to fund our activities. The portfolio ended the year with a value of £12.9m (£12.8m investments and £0.1m cash awaiting investment).

12

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Investment Policy

The charitable company has a portfolio of investments managed by Charles Stanley & Co Limited under a discretionary agreement in accordance with an investment policy agreed and regularly monitored by the Trustees who meet with the Fund Managers at least every six months. The overall investment objective agreed by the Trustees is to maximise the total return whilst having regard to the charitable nature of these funds and Trustees' responsibility to avoid unacceptable risks. The Fund Managers have been mandated to ensure that securities held in the portfolio do not contravene our specific ethical requirements regarding animal testing and transportation. The Fund Manager also ensures that it is an active custodian of the Charity’s assets and actively votes on governance issues for any equity securities held directly. Where the Fund Managers use third party funds, it is recognised that there is limited control over the underlying allocation and its ethical positioning. The target required of the Fund Managers is to achieve a performance against a bespoke benchmark.

Risk Management

The Board of Trustees has considered the risks which face the Charity in the delivery of its objectives and has compiled and regularly reviews a register of these risks, both internal and external. Risks are assessed according to their potential impact on the Charity and the likelihood of their occurrence. Management and mitigation strategies are in place to ensure that the adverse effects of those risks are reduced as far as possible.

The Board considers that the principal risks which face the Charity are:

• The volatility of the sources of income on which the Charity relies to carry out its work, principally legacy income which by its nature is unpredictable, and fundraising from the public. The board is actively pursuing strategies to diversify the sources of the Charity’s income.

• Operational issues such as the risk of the outbreak of serious disease, or a change in the nature or number of the animals admitted leading to problems with the capacity of the Centre. The Charity has a business continuity plan in place to mitigate the effects of these risks.

Internal control risks are minimised by the implementation of appropriate policy and procedure. We have retained an external specialist company to support the Charity in managing health and safety procedures for our staff, volunteers and visitors. A member of staff, in conjunction with an external consultancy, is the lead on GDPR matters. We retain specialist lawyers for assistance with employment matters, and have comprehensive property, business continuity, public liability and employers’ liability insurance in place.

The Charity’s risk register continues to be revised regularly to take into account changing circumstances. Optimistic and pessimistic budget scenarios together with longer term projections continue to be considered, together with regular reforecasts. All aspects of health & safety have been thoroughly risk assessed.

Reserves

At 31 March 2023, the Charity held free reserves of £12,902,681, calculated in accordance with Charity Commission guidance as follows: Total Charity funds of £17,945,173 less the designated fund for tangible fixed assets used to carry out our activities of £3,889,531, the investment revaluation reserve of £1,146,356 and restricted funds of £6,605. Restricted funds are given or raised for specific purposes and are not available for use in the general purposes of the Charity. The Charity’s reserves are held predominantly as investments which are classed as income funds and are used to generate unrestricted income to fund the Charity’s activities.

The Charity’s reserves policy is to maintain a level of free reserves that will enable it to ensure continuity of activity in the event of significant physical disruption to its activities, an exceptional shortfall in income or increase in costs, to fund major programmes and capital projects which it is not able to fund from day to day recurring sources of income, and have the ability to respond in a measured way to changes in the external economic environment and demands on our services.

The charity uses a risk-based approach to calculating the amount to set aside as reserves. Using its risk register as a basis, we calculate the amount we need to set aside to enable the Charity to continue operating should any of the risks materialise.

13

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

The Charity has incurred cash deficits for the last five financial years, is budgeting for a further deficit for the year ending 31 March 2024, and projections suggest that we will continue to incur deficits until at least 2029/30. The principal reasons for the ongoing deficits are substantial increases in the costs of funding our charitable activities, such as fuel and power, and a shortfall in income resulting from under-investment in fundraising and commercial activities for an extended period of time combined with currently investing substantial amounts in programmes to increase income from these sources. In addition, we continue to invest in our facilities in order to advance our charitable activities. Taking into account the need to fund future deficits, the potential costs of other risks identified from our review of our risk register and current plans to invest in our facilities, the Board estimates that the Charity should set aside between £5.5m and £6.0m of its reserves. We have a number of specific projects and programmes in the early stages of planning which will improve further the charitable work that we are able to carry out and these, too, will be funded from our reserves.

Following the coronavirus pandemic, the Charity is fortunate that it has sufficient reserves on which it can draw to enable it to maintain and invest in its charitable activities for the foreseeable future. This policy is under continual review as our post-coronavirus strategy evolves.

Plans for Future Periods

Our strategic challenges, now and for the future, are demanding. We must understand the changing environment in which we operate and be proactive and innovative in how we adapt to challenges. We wish to use our expertise and knowledge to demonstrate our exemplary work in the field of animal welfare and we will ensure we are effective in promoting the Charity to maintain our reputation, supporters and income. We must also ensure that we have robust financial planning in place to achieve our strategic goals.

There will be a strong focus on Raystede’s strategy during 2023 with time set aside for Trustees and SMT to review and discuss future direction. Strategic planning will drive the Charity towards future economic stability and growth to fully achieve Raystede’s objectives. Specifically, we have currently identified the following areas as priorities for each of our main areas of charitable activity:

Achieving financial stability

We will increase net fundraising income with the aim of rebalancing the proportion of fundraising to legacy income to create a more stable and predictable annual income.

We will seek to maintain strong legacy receipts through a long-term commitment to our stakeholders.

We will manage current commercial businesses to optimise income generation whilst also identifying and planning the development of further commercial opportunities off-site to generate new income streams.

We will evaluate expenditure in all departments on a regular basis to drive efficiencies wherever found, reducing our cost base whenever possible.

Rehoming services

It is a core strategy of the Charity to maximise the number of animals rehomed within our existing infrastructure.

We will continue to review procedures and methodology to ensure we maximise our opportunities to rehome rescue animals.

We will further enhance our website and other related communication tools in order to maintain online rehoming processes. We will target promotion and advertising activities to attract suitable rehomers for the animals we care for.

We will provide training and continually review processes to maximise our efficiency and monitor performance against Key Performance Indicators linked to our animal welfare strategies.

14

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

We will continue to promote excellent standards of animal welfare through our rehoming procedures. Our procedures will be explicit in their demonstration of best practice in the care and welfare of all companion animals.

We will continue to evaluate our facilities for both animals and people, to make necessary improvements in line with our strategic planning.

Sanctuary and lifetime homes for animals in need

It is a core strategy of the Charity to provide sanctuary where animals cannot be rehomed and at the same time to ensure we meet best standards of animal welfare. Our facilities will contribute to the learning experience for visitors whilst at the same time teaching respect for animals and ensuring best welfare. We recognise the need to optimise the number of visitors on site to ensure the highest level of animal welfare is maintained and we will continue to assess ways of creating the right balance.

We will maintain and improve where possible the facilities that provide lifetime homes for certain animals to ensure every animal in sanctuary on site is able to thrive in our care.

Education services to promote animal welfare

We will continue to develop educational activities for children, young people and schools.

We will develop training, education and learning specifically for online channels.

We will develop and implement plans to enhance the on-site visitor experience through learning.

We will progress educational activity through outreach in our local communities.

Auditor

Kreston Reeves LLP were appointed auditors for the financial year ended 31 March 2023 at a General Meeting. Appointment of auditors for the next financial year will be put to a General Meeting.

Statement as to disclosure of information to auditor

The Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the Trustees have confirmed that they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

15

Thè Raystede Centr& for Anirnal Welfare Limited IA Cornpany Limited by Guarantee) Trvste&s' Report Icontinuedl For the Year Ended 31 March 2023 Responsibilities in relation to the financial statements The trustees IINho are also direclors of Raystede Centre for Animal Welfare Limited lor the purposes ol cornpany lawl are responsible for preparing the Report ol the Council of Management and the financial statements in accordance with applicable law and United Kingdom Accounling Standards Iuniled Kingdom Generally Accepted Accounting practi￿). Company law requires the trustees lo prepare financial slalements for each financial year which give a true and fair vieiN ol the stale of aff21rs of the charitable company and the group and of incoming resources and application of resources, including the income and expenditure. DI the charitable group lor that period. In preparing these financial statements, the Iruslees are required to.. select suitable accounting policies and then apply them consistently". observe the methods and principles in the Charities SORP. make judgemen15 and estimates that are reasonable and prudent. prepare the financial statements on rhe going concèrn basis unless it is inappropriate to presume that the charitable company will continue in business. The Iruslees are responsible for keeping proper accounting records that disclose wth reasonable 8ccuracy at any time Ihè financial position ol the charitable compary and enable them to ensurè that the financial statements comply iNith th- Companias Act 2006. They are also responsible lor safeguarding the a5Srls ol the company and the group and hence for taking re¢isonable steps lor the pre￿entiorn and detection ol fraud and other iiregularities Approved by order ol the members of the board of Trustees and signed on their behalf by." D H Joties Chairrnan Dale 71%12S

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of The Raystede Centre for Animal Welfare Limited

Opinion

We have audited the financial statements of The Raystede Centre for Animal Welfare Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 Group's and of the parent charitable company's affairs as at 31 March 2023 and of the Group's incoming resources and application of resources, including its income and expenditure 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 Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent charitable company'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.

17

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of The Raystede Centre for Animal Welfare Limited (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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, except to the extent otherwise explicitly stated in our report, 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company'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 liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

18

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of The Raystede Centre for Animal Welfare Limited (continued)

Auditors' responsibilities for the audit of the financial statements

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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charity and the sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of noncompliance with laws and regulations related to health and safety and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to incorrect recognition of legacy income, posting inappropriate journal entries and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

• Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and

• Assessment of identified fraud risk factors; and

• Review of expenditure to confirm no evidence of personal benefit; and

• Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and

• Challenging assumptions and judgements made by management in its significant accounting estimates; and

• Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and

• Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and

• Reading minutes of meetings of those charged with governance; and

• Physical inspection of tangible assets susceptible to fraud or irregularity; and

• Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting transactions; and

• Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.

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 non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

19

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of The Raystede Centre for Animal Welfare Limited (continued)

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• 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. 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.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.

• Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

20

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of The Raystede Centre for Animal Welfare Limited (continued)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Samantha Rouse FCCA DChA (Senior Statutory Auditor)

for and on behalf of Kreston Reeves LLP

Chartered Accountants Statutory Auditor

Canterbury

Date:

21

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Consolidated Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2023

Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds Charitable activities Total expenditure 9 Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net (expenditure)/income Transfers between funds 18 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2023 £ 2,333,552 54,437 531,258 438,931 3,358,178 1,887,144 2,344,712 4,231,856 (873,678) (1,082,796) (1,956,474) 14,000 (1,942,474) 19,881,042 (1,942,474) 17,938,568	Restricted funds 2023 £ 45,119 - - - 45,119 - 30,257 30,257 14,862 - 14,862 (14,000) 862 5,743 862 6,605	Total funds 2023 £ 2,378,671 54,437 531,258 438,931 3,403,297 1,887,144 2,374,969 4,262,113 (858,816) (1,082,796) (1,941,612) - (1,941,612) 19,886,785 (1,941,612) 17,945,173	Total funds 2022 £ 2,840,366 38,328 452,439 408,893
				3,740,026
				1,343,938 2,222,851
				3,566,789
				173,237 918,693
				1,091,930 -
				1,091,930
				18,794,855 1,091,930
				19,886,785

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 24 to 46 form part of these financial statements.

22

The Raystède Centre for Animal Welfare Limited IA Cornpany Limiled by Guarantee) Registered number- 00816674 Consolidaled Balance Sheet As at 31 March 2023 2023 2022 Note Fixed assets Intangible assets Tangible assets Inve5trnents 820 3,888,712 12,855,818 1.025 3.965,406 14.632.007 12 13 16,745.350 18598438 Current a55ets Stocks 14 15.918 1,016.148 107,040 340,070 15.948 Debtors 675.252 Investments Cash al bank and in hand 16 257.369 573,996 1,479.176 1.522.565 Creditors." amounls falling due wrthin one year 17 1279,3531 1234,2181 Net Current assets 1,199.823 1.288.347 Total net assets 17.945,173 19,886.185 Charity funds Restrided funds Unrestricted lullds 18 18 6,605 17,938,568 19 881,042 Total funds 17,945,173 19,886.785 The Trustees a¢kno4Nledge Iheir responsibilities fcr CoMpl,￿ng wrth the requirements of the Act with respect tc> accoLJnling records and preparation of 11nancial 51alementS The financial statements uver! approved and authonsa for Issue by the Trustees and signed on their behalf by.. DHJonb Chairrnan Dale". )Iq12£ The nol&¢ Dn paoes 24 10 46 form part of these financial statements. 23

The Raystede Centre for Animal Welfare Limited IA Company Limited by Guaranteel Registered number- 00816674 Charity Balance Shèet As at 31 Mar¢h 2023 2023 2022 Note Fixed assets Intangible assets Tangible assets Invèstments 820 3,857,227 12,8SS,820 1.025 3,931.130 14.632,009 72 16,713,867 Current assets 18,564 104 Debtors Investments Cash al bank and in hand 1.056.909 107,040 259,689 711.677 257 369 494.108 16 1.423.638 1,463,154 Creditors." arnounls falling due within one year 17 1259.7331 1208,4161 Net currènt assets 1.163,905 1.254.738 Total net assets 17,877.772 19 818,902 Charity funds R@slricted funds Unrestricted funds 6,605 17,871,167 5,743 19.813.159 18 Total funds 17.877,772 1Q 818.902 The Charity's nel movemenl in funds for the year was fl1 941 130112022 - r1.070:2621. The Trustees a¢knoiNledge their responsibililiet for complying wrth the requirements of the Act with respect lo accounting records and preparation of financial statements. The finèncial statements were approved and authorised for issue by the Trustees and signed on their behalf by". D H Jones Chaiman Oate. The notes on pages 24 10 46 fom part of these Tinancial statèments. 24

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Consolidated Statement of Cash Flows For the Year Ended 31 March 2023

Note Cash flows from operating activities Net cash used in operating activities 21 Cash flows from investing activities Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Dividends received Rental income Interest received Net cash provided by investing activities Cash flows from financing activities Repayments of borrowing Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 22	2023 £ (1,382,094) (134,485) 3,599,353 (2,905,960) 423,117 14,400 1,414 997,839 - - (384,255) 831,365 447,110	2022 £ (470,762)
		(108,164) 2,932,469 (2,488,112) 394,430 14,400 63
		745,086
		(500,000)
		(500,000)
		(225,676) 1,057,041
		831,365

The notes on pages 24 to 46 form part of these financial statements

25

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

1. General information

Raystede Centre for Animal Welfare Limited is a charitable private company limited by guarantee, incorporated in England and Wales. The registered office is Raystede, Ringmer, Lewes, East Sussex, BN8 5AJ.

The charity's principal activity is to give animals a better life through rehoming, rehabilitation and sanctuary, and give people the support and knowledge they need to treat animals with care and respect.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Raystede Centre for Animal Welfare Limited 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.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

2.2 Going concern

The Trustees consider whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

26

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Voluntary income including donations, gifts and legacies are recognised where there is entitlement, it is probable that the income will be recovered and that the amount can be measured reliably. For legacies, entitlement is the earlier of the charitable company being notified of a final distribution, the receipt of the legacy or the date on which the personal representatives of an estate have agreed a distribution.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income from commercial trading activities is recognised as earned. Income from events is recognised as receivable on the date of the event.

Investment income is recognised on a receivables basis.

2.4 Expenditure

Expenditure is recognised when a liability is incurred and is analysed as shown below:

• Costs of raising funds are those incurred in attracting donations and legacies, and those incurred in trading activities that raise funds;

• Charitable activities include expenditure associated with rehoming services, sanctuary and lifetime homes and education services and include both the direct costs and support costs relating to these activities;

• Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources e.g. allocating property costs by floor area, staff costs by time spent and other costs by their usage.

All resources expended are classified under activity headings that aggregate all costs related to that category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

2.5 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.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

27

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.7 Taxation

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

2.8 Intangible assets and amortisation

Intangible assets costing more than £1,000 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The useful life of intangible assets is 8 years.

2.9 Tangible fixed assets and depreciation

Tangible fixed assets costing more than £1,000 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Assets in the course of construction are included at costs incurred to date. Depreciation on these assets is not charged until they are brought into use.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Freehold property &	- 40 years straight line basis
improvements
Leasehold improvements	- 5 years straight line
Plant and machinery	- 15% reducing balance
Motor vehicles and trailers	- 25% reducing balance
Furniture, fixtures & equipment	- 15% reducing balance
Office, computer & educational	- 15% reducing balance
equipment
Outbuildings and equipment	- 15% reducing balance

28

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.10 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.11 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.12 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.13 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.14 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.

2.15 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.16 Operating leases

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.

29

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.17 Pensions

The Group contributes to personal pension plans of a number of its staff. The scheme provides money purchase and lump sum benefits payable to members on their retirement or to their dependants on death before retirement. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Contributions are charged to the Statement of Financial Activities when they become payable.

2.18 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

30

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

3. Income from donations and legacies

Donations and gifts Legacies receivable Total 2022	Unrestricted funds 2023 £ 1,251,358 1,082,194 2,333,552 2,788,721	Restricted funds 2023 £ 45,119 - 45,119 51,645	Total funds 2023 £ 1,296,477 1,082,194 2,378,671 2,840,366	Total funds 2022 £ 889,053 1,951,313
				2,840,366

4. Income from charitable activities

Rehoming fees Total 2022	Unrestricted funds 2023 £ 54,437 38,328	Total funds 2023 £ 54,437 38,328	Total funds 2022 £ 38,328

5. Income from other trading activities Income from non charitable trading activities

Sale of goods Events Cremation services Other Coronavirus job retention scheme Government grants receivable and released Total 2022	Unrestricted funds 2023 £ 336,885 2,203 147,446 44,724 - - 531,258 452,439	Total funds 2023 £ 336,885 2,203 147,446 44,724 - - 531,258 452,439	Total funds 2022 £ 248,044 1,559 117,446 44,248 36,642 4,500
			452,439

31

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

6. Investment income

Rental income Dividend income Interest received Total 2022	Unrestricted funds 2023 £ 14,400 423,117 1,414 438,931 408,893	Total funds 2023 £ 14,400 423,117 1,414 438,931 408,893	Total funds 2022 £ 14,400 394,430 63
			408,893

7. Analysis of total expenditure

Cost of raising funds Donations and legacies Trading activities Investment management fees Charitable activities Rehoming services Sanctuary and lifetime homes Education services Total expenditure Total 2022	Activities undertaken directly £ 972,758 704,172 93,049 1,042,980 834,967 145,528 3,793,454 3,132,208	Support costs £ 117,165 - - 188,283 139,778 23,433 468,659 434,581	Total 2023 £ 1,089,923 704,172 93,049 1,231,263 974,745 168,961 4,262,113 3,566,789	Total 2022 £ 782,306 497,810 63,822 1,157,715 921,035 144,101
				3,566,789

Of the total expenditure £30,257 (2022: £33,216) was attributable to restricted funds and £4,231,520 (2022: £3,533,573) to unrestricted funds.

32

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

Support costs allocation

Cost of raising funds Donations and legacies Charitable activities Rehoming services Sanctuary and lifetime homes Education services Total support costs Total 2022	Management £ 117,165 188,283 139,778 23,433 468,659 434,581	Total 2023 £ 117,165 188,283 139,778 23,433 468,659 434,581	Total 2022 £ 108,645 177,181 127,026 21,729
			434,581

Basis for support costs allocation

All indirect and support costs have been allocated into our main areas of expenditure as required by the Charities SORP FRS 102. This gives an allocation of our resources as follows:

Cost of generating funds: 25% (2022: 25%) Rehoming services: 35% except 'Front of house' costs which are split 70% (2022: 35%) Sanctuary/lifetime homes: 35% (2022: 35%) Education services: 5% (2022: 5%)

Facilities and estates are primarily allocated on a usage basis while management costs are allocated on the basis of time spent.

8. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £15,000 (2022 - £15,000), and remuneration in relation to the preparation of the financial statements and corporation tax returns of £7,000 (2022 - £7,000).

9. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	Group 2023 £ 2,048,165 161,362 42,256 2,251,783	Group 2022 £ 1,779,791 133,197 35,862 1,948,850		Charity 2023 £ 1,862,028 150,741 39,873 2,052,642		Charity 2022 £ 1,603,424 123,356 33,720
						1,760,500

33

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

9. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Office and management support staff Maintenance Animal carers Cafe, shop and cremation services Fundraising	Group 2023 No. 13 6 55 34 15 123	Group 2022 No. 13 6 53 34 15 121		Charity 2023 No. 13 6 55 - 15 89	Charity 2022 No. 13 6 53 - 15
					87

The average headcount expressed as full-time equivalents was:

Office and management support staff Maintenance Animal carers Cafe, shop and cremation services Fundraising	Group 2023 No. 10 5 38 16 13 82	Group 2022 No. 10 5 39 12 10 76		Charity 2023 No. 10 5 38 - 13 66	Charity 2022 No. 10 5 39 - 10
					64

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group	Group
		2023	2022
		No.	No.
In the band £80,001	- £90,000	1	1

The charity considers its key management personnel to be the Chief Executive and the Senior Management Team. The key management personnel of the group comprise those of the charity and the key management personnel of its wholly owned subsidiary Raystede Animal Services Limited. The total employee benefits of the key management personnel of the group were £422,146 (2022: £402,836).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).

34

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

Notes to the Financial Statements For the Year Ended 31 March 2023
11. Intangible assets Group and Charity Cost At 1 April 2022 At 31 March 2023 Amortisation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Total £ 1,843
	1,843
	818 205
	1,023
	820 1,025

Amortisation is split across all charitable activities in the statement of financial activities.

35

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

12. Tangible fixed assets

Group

Cost or valuation At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year On disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Freehold property & improvements £ 5,612,414 13,479 - 5,625,893 2,059,639 139,797 - 2,199,436 3,426,457 3,552,775	Short- term leasehold property £ 73,343 - - 73,343 8,577 8,577 - 17,154 56,189 64,766	Plant and machinery £ 32,745 - (1,500) 31,245 19,223 2,112 (1,196) 20,139 11,106 13,522	Motor vehicles & trailers £ 82,555 - (12,995) 69,560 68,273 3,553 (12,847) 58,979 10,581 14,282	Furniture, fixtures & fittings £ 398,573 6,276 - 404,849 304,632 15,033 - 319,665 85,184 93,941	Office & educational equip. (inc. vet equip.) £ 439,095 3,438 - 442,533 338,342 15,813 - 354,155 88,378 100,753	Out- buildings & equipment £ 1,932,204 46,902 - 1,979,106 1,806,837 25,842 - 1,832,679 146,427 125,367	Assets under construction £ - 64,390 - 64,390 - - - - 64,390 -	Total £ 8,570,929 134,485 (14,495)
									8,690,919
									4,605,523 210,727 (14,043)
									4,802,207
									3,888,712 3,965,406

36

The Raystede Centre for Animal Welfare Limited (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

12. Tangible fixed assets (continued)

Charity

Cost or valuation At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year On disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Freehold property & improvements £ 5,612,414 13,479 - 5,625,893 2,059,639 139,797 - 2,199,436 3,426,457 3,552,775	Short-term leasehold property £ 73,343 - - 73,343 8,577 8,577 - 17,154 56,189 64,766	Motor vehicles & trailers £ 82,555 - (12,995) 69,560 68,273 3,553 (12,847) 58,979 10,581 14,282	Furniture, fixtures & fittings £ 398,573 6,276 - 404,849 304,632 15,033 - 319,665 85,184 93,941	Office & educational equip. (inc. vet equip.) £ 384,243 - - 384,243 304,244 12,000 - 316,244 67,999 79,999	Out- buildings & equipment £ 1,932,204 46,902 - 1,979,106 1,806,837 25,842 - 1,832,679 146,427 125,367	Assets under construction £ - 64,390 - 64,390 - - - - 64,390 -	Total £ 8,483,332 131,047 (12,995)
								8,601,384
								4,552,202 204,802 (12,847)
								4,744,157
								3,857,227 3,931,130

37

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

13. Fixed asset investments

Group Cost or valuation At 1 April 2022 Additions Disposals Unrealised losses Realised gains At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Charity Cost or valuation At 1 April 2022 Additions Disposals Unrealised losses Realised gains At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Investments in subsidiary companies £ 2 - - - - 2 2 2	Listed investments £ 14,632,007 2,905,960 (3,599,353) (2,317,088) 1,234,292 12,855,818 12,855,818 14,632,007	Listed investments £ 14,632,007 2,905,960 (3,599,353) (2,317,088) 1,234,292
			12,855,818 12,855,818
			14,632,007 Total £ 14,632,009 2,905,960 (3,599,353) (2,317,088) 1,234,292
			12,855,820 12,855,820
			14,632,009

The historical cost of listed investments was £11,709,462 (2022: £11,168,563).

Current asset investments relate to cash held by the investment managers for investment purposes.

38

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

14. Stocks

Finished goods and goods for resale 15. Debtors Group 2023 £ Due within one year Trade debtors 11,439 Amounts owed by group undertakings - Other debtors 943,377 Prepayments and accrued income 61,332 1,016,148 16. Current asset investments Group 2023 £ Cash held by investment managers 107,040 17. Creditors: Amounts falling due within one year Group 2023 £ Trade creditors 186,435 Other taxation and social security 36,584 Other creditors 21,143 Accruals 35,191 279,353	Group 2022 £ 13,705 - 615,857 45,690 675,252 Group 2022 £ 257,369 Group 2022 £ 95,293 33,556 16,173 89,196 234,218	Group 2023 £ 15,918 Charity 2023 £ 7,979 45,388 943,377 60,165 1,056,909 Charity 2023 £ 107,040 Charity 2023 £ 167,396 36,584 21,143 34,610 259,733	Group 2022 £ 15,948
			Charity 2022 £ 7,327 43,425 615,857 45,068
			711,677
			Charity 2022 £ 257,369
			Charity 2022 £ 71,505 33,556 16,173 87,182
			208,416

39

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

18. Statement of funds

Statement of funds - current year

Balance at 1 April 2022 £ Unrestricted funds Designated funds Fixed Asset Fund 3,966,431 General funds Investment Revaluation Reserve 3,463,445 Other Charitable Funds 12,451,166 15,914,611 Total Unrestricted funds 19,881,042	Income £ Expenditure £ - (210,867) - - 3,358,178 (4,020,989) 3,358,178 (4,020,989) 3,358,178 (4,231,856)	Transfers in/out £ 133,967 (2,317,089) 2,197,122 (119,967) 14,000	Gains/ (Losses) £ - - (1,082,796) (1,082,796) (1,082,796)	Balance at 31 March 2023 £ 3,889,531 1,146,356 12,902,681
				14,049,037
				17,938,568

40

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

18. Statement of funds (continued)

Restricted funds Equine veterinary expenditure Kennels enrichment Aviary alterations Support Adoption for Pets (1) Support Adoption for Pets (2) Petplan Charitable Trust Kennel Club Charitable Trust Chalk Cliff Trust Jelinek Hilborne-Clarke John Jackson Charitable Trust Equine end of life care Sir Peter O'Sullivan Trust Cattery donations Total of funds	Balance at 1 April 2022 £ 2,743 1,000 2,000 - - - - - - - - - - - 5,743 19,886,785	Income £ - - - 12,831 7,969 5,000 1,000 3,000 500 5,000 6,000 600 3,000 219 45,119 3,403,297	Expenditure £ (2,400) (457) - (12,831) (7,969) (5,000) (1,000) - - - - (600) - - (30,257) (4,262,113)	Transfers in/out £ - - - - - - - - - (5,000) (6,000) - (3,000) - (14,000) -	Gains/ (Losses) £ - - - - - - - - - - - - - - - (1,082,796)	Balance at 31 March 2023 £ 343 543 2,000 - - - - 3,000 500 - - - - 219
						6,605
						17,945,173

41

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

18. Statement of funds (continued)

Restricted funds:

Equine veterinary expenditure: Funds to finance a major operation on one of our donkeys. Kennels enrichment: Funds to provide enrichment equipment for dogs in our kennels. Aviary alterations: Funds to assist with the costs of splitting our aviary. Support Adoption for Pets (1): Veterinary expenditure. Support Adoption for Pets (2): Animal food expenditure. Petplan Charitable Trust: Educational outreach.

Kennel Club Charitable Trust: STAR dogs expenditure.

Chalk Cliff Trust: Educational work with children with special educational needs.

Jelinek: Expenditure in kennels.

Hilborne-Clarke: Kennel run and October field lighting. John Jackson Charitable Trust: Avian flu structures.

Equine end of life care: End of life care for a surrendered horse.

Sir Peter O'Sullivan Trust: Purchase sand school harrow.

Cattery donations: Betty the cat surgery.

42

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Fixed Asset Fund General funds Investment Revaluation Reserve Other Charitable Funds Total Unrestricted funds	Balance at 1 April 2021 £ 4,073,584 3,172,001 11,541,654 14,713,655 18,787,239	Income £ - - 3,688,381 3,688,381 3,688,381	Expenditure £ (212,077) - (3,321,496) (3,321,496) (3,533,573)	Transfers in/out £ 104,924 291,444 (376,066) (84,622) 20,302	Gains/ (Losses) £ - - 918,693 918,693 918,693	Balance at 31 March 2022 £ 3,966,431 3,463,445 12,451,166
						15,914,611
						19,881,042

43

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

18. Statement of funds (continued)

Restricted funds Kennels Aviary improvement Equine/kennels Corn shed Equine veterinary expenditure Kennels staffing Sand school Crematorium van Veterinary and equine equipment Kennels enrichment Equine equipment Education outreach in Hastings Veterinary costs Education outreach Aviary alterations Total of funds	Balance at 1 April 2021 £ 158 1,852 200 5,406 - - - - - - - - - - - 7,616 18,794,855	Income £ - - - 100 5,000 5,500 4,300 5,000 9,000 1,000 8,245 500 10,000 1,000 2,000 51,645 3,740,026	Expenditure £ (158) - (200) - (2,257) (5,500) (4,300) - (1,056) - (8,245) (500) (10,000) (1,000) - (33,216) (3,566,789)	Transfers in/out £ - (1,852) - (5,506) - - - (5,000) (7,944) - - - - - - (20,302) -	Gains/ (Losses) £ - - - - - - - - - - - - - - - - 918,693	Balance at 31 March 2022 £ - - - - 2,743 - - - - 1,000 - - - - 2,000
						5,743
						19,886,785

44

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

19. Summary of funds

Summary of funds - current year

Designated funds General funds Restricted funds	Balance at 1 April 2022 £ 3,966,431 15,914,611 5,743 19,886,785	Income £ - 3,358,178 45,119 3,403,297 Income £ - 3,688,381 51,645 3,740,026	Expenditure £ (210,867) (4,020,989) (30,257) (4,262,113) Expenditure £ (212,077) (3,321,496) (33,216) (3,566,789)	Transfers in/out £ 133,967 (119,967) (14,000) - Transfers in/out £ 104,924 (84,622) (20,302) -	Gains/ (Losses) £ - (1,082,796) - (1,082,796) Gains/ (Losses) £ - 918,693 - 918,693	Balance at 31 March 2023 £ 3,889,531 14,049,037 6,605
						17,945,173
						Balance at 31 March 2022 £ 3,966,431 15,914,611 5,743
Summary of funds - prior year
Designated funds General funds Restricted funds	Balance at 1 April 2021 £ 4,073,584 14,713,655 7,616 18,794,855
						19,886,785

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2023 £ 3,888,712 820 12,855,818 1,472,571 (279,353) 17,938,568	Restricted funds 2023 £ - - - 6,605 - 6,605	Total funds 2023 £ 3,888,712 820 12,855,818 1,479,176 (279,353)
			17,945,173

45

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

20. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2022 £ 3,965,406 1,025 14,632,007 1,516,822 (234,218) 19,881,042	Restricted funds 2022 £ - - - 5,743 - 5,743	Total funds 2022 £ 3,965,406 1,025 14,632,007 1,522,565 (234,218)
			19,886,785

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net (expenditure)/income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Losses/(gains) on investments Dividends, interests and rents from investments Loss on the sale of fixed assets Decrease/(increase) in stocks (Increase) in debtors Increase in creditors Net cash used in operating activities	Group 2023 £ (1,941,612) 210,727 205 1,082,796 (438,931) 452 30 (340,896) 45,135 (1,382,094)	Group 2022 £ 1,091,930 211,872 205 (918,693) (408,893) 3,240 (7,694) (492,531) 49,802
		(470,762)

46

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

22. Analysis of cash and cash equivalents

Cash at bank and in hand Current asset investments Total cash and cash equivalents	Group 2023 £ 340,070 107,040 447,110	Group 2022 £ 573,996 257,369
		831,365

23. Analysis of changes in net debt

Cash at bank and in hand Liquid investments	At 1 April 2022 £ 573,996 257,369 831,365	Cash flows £ (233,926) (150,329) (384,255)	At 31 March 2023 £ 340,070 107,040
			447,110

24. Pension commitments

The group operates a defined contribution pension scheme for its employees. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £42,256 (2022: £35,862). At the balance sheet date £8,715 was recognised as a liability owed to the scheme (2022: £7,661).

25. Operating lease commitments

At 31 March 2023 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	Group 2023 £ 116,891 387,307 504,198		Group 2022 £ 45,642 146,403 192,045	Charity 2023 £ 115,743 387,307 503,050	Charity 2022 £ 43,674 145,255
					188,929

47

The Raystede Centre for Animal Welfare Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

26. Related party transaction

During the year P J Vine-Hall, a member of the Board of Trustees, supplied hay to the group totalling £350 (2022: £420). The amount outstanding at the year end was £Nil (2022: £350) and is included within trade creditors.

Exemption from the requirement to disclose transactions between wholly owned group members has been taken in accordance with provisions in FRS8.

27. Controlling party

There is no ultimate controlling party.

28. Principal subsidiaries

The following were subsidiary undertakings of the Charity:

Names	Company	Registered	Principal activity	Class of	Holding Included in
	number	office or		shares	consolidation
		principal place
		of business
Raystede Animal	03182365	Raystede,	To undertake	Ordinary	100% Yes
Services Limited		Ringmer,	cremation
		Lewes, East	services and the
		Sussex, BN8	provisions of a
		5AJ	cafe/shop to
			further the
			charitable benefit
			of the charity.
Raystede Centre	04838919	Raystede,	A design and	Ordinary	100% Yes
Construction		Ringmer,	construction
Limited		Lewes, East	company which
		Sussex, BN8	assists the
		5AJ	Welfare and
			Services activities
			and facilitates
			building projects.

The financial results of the subsidiaries for the year were:

Names	Income	Expenditure	Profit/(Loss)	Net assets
	£	£	/ Surplus/	£
			(Deficit) for
			the year
			£
Raystede Animal Services Limited	486,855	(452,621)	34,234	67,402
Raystede Centre Construction Limited	-	-	-	1

48