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2020-12-31-accounts

Page
Report ofthe Trustees 1 to 5
Report ofthe Independent
Auditors		 6 to 7
Statement ofFinancial Activities
Statement ofFinancial Position
Statement ofCash Flows 10
Notes to the Financial Statements 11 to 19
Detailed Statement ofFinancial Activities 20 to 21

Proceeds fiom the sale ofinvestments
were 6190,743 and th		 ere was aloss ofK3,963on disposals.
2020 2019
UK fixed interest 10.1% 11.7%
Foreign currency fixed interest 4.3% 2.1%
UK listed equities 23.1% 25.3%
Cash fund 0.9% 3.7%
Property 0.0% 2.0%
Oversea listed equities 616% 55.3%
Total financial investments 100.0% 100.0%

2020 2019
Legacies & Donations 83.3% 55.0%
Investment income 16.7% 45.0%
Total income 100.0% 100.0%
2020 2019
Donations 71,472 57,927
Legacies 775,871 167,727
Investments 169,809 189,363
Total income 1,017,152 415,017
2020 2019
Revaluation gain/(loss) on investments 565,225 921,084
Gains/(loss) on sale of investments (3,963) 61,910
Dollar a/c gain 797 0
562,059 982,994

for the Year Ended 31Decemb er 2020
31.12.20 31.12.19
Unrestricted Total
fund funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies 852,602 225,654
Investment income 166,389 189,363
Total 1,018,991 415,017
EXPENDITURE ON
Raising funds
Investment management costs 27,548 25,859
27,548 25,859
Charitable activities
General 384,190 357,967
Total 411,738 383,826
Net gains on investments 561,262 982,994
NET INCOME 1,168,515 1,014,185
RECONCILIATION OFFUNDS
Total funds brought forward 7,901,563 6,887,378
TOTAL FUNDS CARRIED FORWARD 9,070,078 7,901,563

31December 2020
31.1220 31.12.19
Unrestricted Total
fund funds
Notes
F1XEDASSETS
Tangible assets 65,639 76,358
Investments
lilvestnlenfs 12 7,906,260 6,851,444
Investment
property		 13 625,000 625,000
8,596,899 7,552 802
CURRENT ASSETS
Debtors 250,000 60,000
Cash at bank and in hand 258,706 403,770
508,706 463,770
CREDITORS
Amounts
falling due within one year		 15 (35,527) (115,009)
NET CURRENT ASSETS 473,179 348,761
TOTAL ASSETSLESSCURRENT
LIABILITIES 9,070,078 7,901,563
NET ASSETS 9,070,078 7,901,563
FUNDS 16
Unrestricted
funds		 9,070,078 7,901,563
TOTAL FUNDS 9,070,078 7,901,563

Statement ofCash Flows
for the Year Ended 31December 2020
31.12.20 31.12.19
Notes
Cash flows from operating activities
Cash generated
&om operations		 18 182,101 44,727
Net cash provided
by operating		 activities 182,101 44,727
Cash flows from investing activities
Purchase offixed asset investments (697,401) (365,576)
Saleoffixed asset investments 203,892 233,552
Dividends
and interest		 166,344 189,311
Net cash (used in)/provided by investing activities (327,165) 57,287
Change in cash and cash equivalents in
the reporting period (145,064) 102,014
Cash and cash equivalents at the
beginning ofthe reporting period 403,770 301,756
Cash and cash equivalents at the end of
the reporting period 258,706 403,770

2. DONATI ONS
AND LEGACIES
31.12.20 31.12.19
Donations 71,472 57,927
Legacies 775,872 167,727
Covid-19 Grant 5,258
852,602 225,654
3. INVESTMENT INCOME
2020 2019
Dividends 133,840 150,667
Interest 32,549 38,686
166/89 189,363
4. INVESTMENT MANAGEMENT COSTS
2020 2019
Investment Broker Fees 27,548 25,859
27,548 25,859
5. CHARITABLE ACTIVITIES COSTS
&ant
funding of
Direct activities Support
Costs (see (see note costs (see
note 6) 7) note 8) Totals
General 189,910 86,602 107,678 384,190

DIRECT C OSTS OFCHARITABLE ACTIVITIES
31.12.20 31.12.19
Staffcosts 55,113 50,670
Rates and council tax 7,461 6,662
Insurance 1,430 1,660
Light and heat 16/72 15,869
Telephone 4,052 1,615
Postage and stationery 4,741 2,954
Advertising 1,637 4,140
Sundries 130
Transport Costs 4,615 5,566
Straw &General Kennel Costs 78,546 78,021
Dog Food 2,480 4,444
Exchange Rate Variations (797) 12,564
Other direct costs 754
Publishing 837 1,421
Internet &website 1,085 550
Bank Charges 44 79
Professional costs 1,575 2,931
Depreciation 10,719 12,150
189,910 202,180

2020 2019
Pup neutering and vaccinations 44,031 42,817
Spanish dogs 32,065 29,477
Small amounts less than K1,000 10,506 2,712
86,602 75,003

Governance
costs
General 107,678
Support costs, included in the above, are as follows:
Governance
costs
31.12.20 31.12.19
Total
General activities
Trustees' expenses 40,000 40,000
Auditors' remuneration 2,500 2,000
Audit & Accountancy 23,000 12,260
Legal fees 42,178 26,524
107,678 80,784
TRUSTEES' REMUNERATION AND BENEFITS
2020 2019
Professional Fees to Hunters Solicitors 42,178 26,524
Payment toatrustee in lieu ofrent 40,000 40,000
82,178 66,524

STAFFCOSTS
31.12.20 31.12.19
Wages and salaries 54,326 58,197
Social security costs 22 (8,431)
Other pension costs 765 904
55,113 50,670
The average monthly number ofemployees during the year was as follows:
31.12.20 31.12.19
Support staff 5 5
No employees
received emoluments		 in excess ofK60,000.
TANGIBLE FIXED ASSETS
Kennels and
property Plant and
improvements machinery Total
COST
At 1 January 2020 581,245 272,552 853,797
At 31December 2019 581,245 272,552 853,797
DEPRECIATION
At 1January 2019 507,606 269,833 777,439
Charge for year 8,000 2,719 10,719
t31December 2020 515,606 272,552 788,158
NET BOOKVALUE
At 31December 2020 65,639 65,639
At 31December 2019 73,639 2,719 76,358

Listed
investments
MARKET VALUE
At 1January 2020 6,851,443
Additions 695,978
Disposais ' (207,855)
Revaluation 566,695
At31December 2020 7,906,260
NET MAIUGi'.TVALUE
At 31December 2020 7,906,260
At 31December 2019 6,851,426
13. INVESTMENT PROPERTY
FAIRVALUE
At 1January 2020
and 31December 2020 625,000
NET BOOKVALUE
At 31December 2020 625,000
At 31December 2019 625,000
14. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
Other debtors - estimated legacy entitlements 250,000 60,000

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
Taxation and social security 9,677 6,009
Other creditors 25,850 109,000
35,527 115,009

Net
At movement At
1.1.20 in funds 31.12.20
Unrestricted funds
General fund 7,901,563 1,168,515 9,070,078
TOTAL FUNDS 7,901,563 1,168,515 9,070,078
Net movement in funds, included in the above are as follows:
Income Expenditure Gains and Movement
losses in funds
Unrestricted funds
General fund 1,017,565 (414,275) 565,225 1,168,515
TOTALFUNDS 1,017,565 (414,275) 565,225 1,168,515
Net
At movement At
1.1.19 in funds 31.12.19
Unrestricted funds
General fund 6,887,378 1,014,185 7,901,563
TOTALFUNDS 6,887,378 1,014,185 7,901,563
Net movement in funds, included in the above are as follows:
Income Expenditure Gains and Movement
losses in funds
Unrestricted funds
General fund 415,017 (383,826) 982,994 1,014,185
TOTAL FUNDS 415,017 (383,826) 982,994 1,014,185

A current 12 months
and		 prior year 12months combined posi tion is as follows:
Net
At movement At
1.1.20 in funds 31.12.20
Unrestricted funds
General fund 6,887,378 2,182,700 9,070,078
TOTAL FUNDS 6,887,378 2,182,700 9,070,078
Net movement in funds, included in the above are as follows:
Income Expenditure Gains and Movement
losses in funds
Unrestricted funds
General fund 1,432,582 (798,101) 1,548,219 2,182,700
TOTAL FUNDS 1,432,582 (798,101) 1,548,219 2,182,700

18. RECONCILIATION RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.12.20 31.12.19
Net income for the reporting period (asper the Statement ofFinancial
Activities) 1,168,515 1,014,185
Adjustments
for:
Depreciation
charges		 10,719 12,150
Gain on investments (561,262) (982,994)
Investment
income		 (166,389) (189,311)
(Increase)/decrease in debtors (190,000) 105,748
(Decrease)/increase in creditors (79,482) 84,949
Net cash provided by operations 182,101 44,727
19. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20 Cash flow At31.12.20
Net cash
Cash at bank and in hand 403,770 (145,064) 258,706
403,770 (145,064) 258,706
Total 403,770 (145,064) 258,706

for the Year Ended 31De cember 2020
31.12.20 31.12.19
INCOME AND ENDOWMENTS
Donations and legacies
Donations 71,472 57,927
Legacies 775,872 167,727
Covid-19 Grant 5,258
852,602 225,654
Investment
income
Investment
income		 (Dividends and interest) 166/89 189,363
Total incoming resources 1,018,991 415,017
EXPENDITURE
Investment
management		 costs
Investment
Broker		 Fees 27,548 25,859
Charitable
activities
Wages 54,326 58,197
Social security 22 (8,431)
Pensions 765 904
Rates and council tax 7,461 6,662
Insurance 1,430 1,660
Light and heat 16,372 15,869
Telephone 4,052 1,615
Postage and stationery 4,741 2,954
Advertising 1,637 4,140
Sundries 130
Transport Costs 4,615 5,566
Straw &General Kennel Costs 78,546 78,021
Dog Food 2,480 4,444
Exchange Rate Variations (797) 12,564
Other direct costs 754
Publishing 837 1,421
Internet &website 1,085 550
Bank Charges 44 79
Professional
costs		 1,575 2,931
Depreciation-Kennels 2,000 2,000
Depreciation-Property Improv 7/88 6,000
Depreciation-Plant & Machinery 1,331 4,150
Grants to individuals 86,602 75,003
276,512 277,183

31.12.20 31.12.19
Support costs
Governance
costs
Trustees' expenses 40,000 40,000
Auditors'
remuneration		 2,500 2,000
Audit &Accountancy 23,000 12,260
Legal fees 42,178 26,524
107,678 80,784
Total resources expended 411,738 383,826
Net income before gains and losses 607,253 31,191
Realised recognised gains and losses
Realised gains/(loss) on inves tments (3,963) 61,910
Unrealised
gains/losses		 on investment 565,225 921,084
Net income 1,168,515 1,014,185