|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe Independent<br>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|





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|Proceeds fiom the sale ofinvestments<br>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%|





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|||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|





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|||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|





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||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<br>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<br>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<br>funds||9,070,078|7,901,563|
|TOTAL FUNDS||9,070,078|7,901,563|





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|||||Statement ofCash Flows|||
|---|---|---|---|---|---|---|
|||for||the Year Ended 31December|2020||
||||||31.12.20|31.12.19|
|||||Notes|||
|Cash flows from operating|activities||||||
|Cash generated<br>&om operations||||18|182,101|44,727|
|Net cash provided<br>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<br>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|





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|2.|DONATI|ONS<br>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|





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|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|



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|||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|





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||||||Governance|
|---|---|---|---|---|---|
||||||costs|
|General|||||107,678|
|Support|costs, included|in the above,|are as follows:|||
|Governance<br>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|





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|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<br>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|



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|||||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|





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|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|



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||||||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|





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|A current 12|months<br>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|



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|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<br>for:||||||
||Depreciation<br>charges||||10,719|12,150|
||Gain on investments||||(561,262)|(982,994)|
||Investment<br>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|





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|||||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<br>income|||||||
|Investment<br>income|(Dividends|||and interest)|166/89|189,363|
|Total incoming resources|||||1,018,991|415,017|
|EXPENDITURE|||||||
|Investment<br>management|||costs||||
|Investment<br>Broker|Fees||||27,548|25,859|
|Charitable<br>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<br>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|



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||||31.12.20|31.12.19|
|---|---|---|---|---|
|Support costs|||||
|Governance<br>costs|||||
|Trustees' expenses|||40,000|40,000|
|Auditors'<br>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<br>gains/losses||on investment|565,225|921,084|
|Net income|||1,168,515|1,014,185|