2020-11-30-accounts

Charity number: 263095

The Animal Defence Trust

Unaudited

Trustees' report and financial statements

for the year ended 30 November 2020

The Animal Defence Trust

Contents

	Page
Reference and administrative details of the charity, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 18

The Animal Defence Trust

Reference and administrative details of the charity, its Trustees and advisers for the year ended 30 November 2020

Trustees

Miss M Saunders Mrs C Bowles MBE Mr R J Vines Mrs J Wheadon (retired 31 March 2020) Mr A Meyer (appointed 1 August 2020) Mrs K McKechnie (appointed 1 April 2020)

Charity registered number

263095

Principal office

1A Dolphin Court Road Plymstock Plymouth Devon PL9 8RS

Accountants

Kreston Reeves LLP Chartered Accountants Third Floor 24 Chiswell Street London EC1Y 4YX

Solicitors

Horsey Lightly 2 West Mills Newbury Berkshire RG14 5HG

Trust Secretary

Roy T Stokes

Stockbroker

Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7LN

Page 1

The Animal Defence Trust

Trustees' report for the year ended 30 November 2020

The Trustees present their annual report together with the financial statements of the The Animal Defence Trust for the year 1 December 2019 to 30 November 2020.

Objectives and activities

a. Policies and objectives

The objects of the charity are:

1. To protect animals from cruelty and suffering and to promote humane behaviour to animals so as to reduce the sum total of pain and fear inflicted upon animals by mankind.

2. To promote and publish the results of research undertaken with a view to discovering means, whereby as far as possible, medical biological pharmaceutical and other research may be carried out without the use of animals and whereby as far as possible any pain and fear suffered by animals used in connection therewith may be eliminated or reduced.

3. To assist in the establishment and maintenance of a body of inspectors to ensure that animals transported to docks, airports, markets, auction sales, exhibitions, circus shows and other places, events and meetings, are transported in proper and humane conditions and that animals are accommodated properly and humanely wherever they may be.

The charity operates throughout England and Wales. In addition, the charity, may from time to time, operate in other countries such as Egypt, France, India, Israel, Portugal, Scotland, Greece, Gambia and Nepal.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Grant-making policies

The charity continued over the year, in accordance with the Trust Deed's objects, the Trustees' policy of making grants to approved registered charities operating in the field of Animal Welfare in the United Kingdom and occasionally abroad, and generally supporting specific approved capital projects from such other registered charities. The Trustees decided, due to the continuing Brexit and Covid-19 uncertainties, that for this year grants awarded would be limited to the Investec investment income, and 14 grants were awarded totaling £10,500. These grants were all made to take public benefit needs fully into account, the Trustees having taken note of the Charity Commission's guidance on public benefit.

Achievements and performance

a. Review of activities

In accordance with the objects of the Charity the Trustees continued with their policy of making cash grants to other generally small animal charities who care for animals which have undergone suffering and cruelty before being rescued by such charities.

b. Investment policy and performance

Investec Wealth & Investment Limited manages the Trust's portfolio of investments on the Trustees' behalf. The Trustees have chosen to invest the funds of the charity in a combination of listed investments and holdings of units of the Charities Property Fund and the Property Income Fund for Charities. Both of these produce, from such property investments, quarterly returns for the charity over and above the portfolio investment income, with total return on listed and unlisted investments of 3.1% (2019 - 3.8%), which collectively the Trustees consider to be reasonable in the current market conditions.

Page 2

The Animal Defence Trust

Trustees' report (continued) for the year ended 30 November 2020

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees have established a policy whereby the resources the charity has available to spend for all the charity's purposes is retained, once it has met its commitments and covered its planned expenditure. The income available to the charity is to be spent at the Trustees' discretion in furtherance of the charity's objects after settlement of designated or committed expenditure.

The Trustees endeavour to maintain a level of reserves sufficient to ensure that the Trustees are in a position to provide a consistent level of annual charitable grants to other animal welfare charities.

c. Review of financial activity

The Statement of Financial Activities for the year is set out on page 6 of the Financial Statements.

The charity's income for the year is £48,053 and consisted of investment income only. Charitable activities and governance costs amounted to £49,333 which resulted in a defecit of £1,280 of net resources expended before investment disposals.

The charity returned a loss on the disposal of some investments in the year of £23,965, and as at the year end the investments held were revalued down by £36,147 producing an overall net loss on investments of £60,112.

Structure, governance and management

a. Constitution

The charity is constituted under the Trust Deed dated 21 September 1971. The charity was registered on 26 October 1971 and is a registered charity number 263095.

The principal object of the charity is to provide grants to smaller animal welfare charities, since the making of a capital grant to them achieves real improvements to the animals in their care.

There have been no changes in the objectives since the last annual report.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

All decisions relating to the charity's management and administration are taken by the Trustees. The Trustees continued with the separation of the general administration of the charity from the annual administration of applications for grants from animal welfare charities.

The charity has continued its policy of making, as many as is financially prudent, grants available to assist small capital projects of other animal welfare charities.

Page 3

The Animal Defence Trust

Trustees' report (continued) for the year ended 30 November 2020

Trustees' responsibilities statement

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

Miss M Saunders

Trustee

Page 4

The Animal Defence Trust

Independent examiner's report for the year ended 30 November 2020

Independent examiner's report to the Trustees of The Animal Defence Trust ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 November 2020.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated:

P Hudson

BA, FCA

Kreston Reeves LLP Chartered Accountants Third Floor 24 Chiswell Street London EC1Y 4YX

Page 5

The Animal Defence Trust

Statement of financial activities for the year ended 30 November 2020

Note Income from: Investments 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net expenditure before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2020 £ 48,053 48,053 49,333 49,333 (1,280) (60,112) (61,392) 1,561,021 (61,392) 1,499,629	Total funds 2020 £ 48,053 48,053 49,333 49,333 (1,280) (60,112) (61,392) 1,561,021 (61,392) 1,499,629	Total funds 2019 £ 56,174
			56,174 78,054
			78,054 (21,880) 90,162
			68,282 1,492,739 68,282
			1,561,021

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 18 form part of these financial statements.

Page 6

The Animal Defence Trust

Balance sheet as at 30 November 2020

2020 Note £ Fixed assets Investments 9 1,487,012 1,487,012 Current assets Debtors 10 7,912 12,026 Cash at bank and in hand 12,305 8,918 20,217 20,944 Creditors: amounts falling due within one year 11 (7,600) (3,550) Net current assets 12,617 Total net assets 1,499,629 Charity funds Restricted funds 12 - Unrestricted funds 12 1,499,629 Total funds 1,499,629 The financial statements were approved and authorised for issue by the _______and signed on their behalf by:

2019 £ 1,543,627 1,543,627 17,394 1,561,021 - 1,561,021 1,561,021 Trustees on

Miss M Saunders

Trustee

The notes on pages 8 to 18 form part of these financial statements.

Page 7

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

1. General information

The charity is constitued under the Trust Deed dated 21 September 1971. The charity was registered on 26 October 1971 and is a registered chairity with registration number 263095

The members of the charity are the Trustees named on page 1.

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 Charities Act 2011.

The Animal Defence Trust 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.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast 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 finanical statements and have concluded that the Charity has adequate resources to continue in operational existance 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.

Whilst the impact of the COVID-10 pandemic has been assessed by the Trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is dfficult to evaluate with any certainty the potential outcomes on the Charity's future activities. However, taking into consideration the Charity's level of reserves, the Trustees believe that the Charity will be able to continue in operational existance for the foreseeable future.

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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 8

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 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 Statement of financial activities.

Investments held as fixed assets are shown at cost less provision for impairment.

2.6 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.

2.7 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.

Page 9

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

2. Accounting policies (continued)

2.8 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 Statement of financial activities as a finance cost.

2.9 Financial instruments

The charity 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.

2.10 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 charity and which have not been designated for other purposes.

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

3. Investment income

Unrestricted funds 2020 £ Income from listed investments 35,604 Income from unlisted investments 12,449 48,053	Total funds 2020 £ 35,604 12,449 48,053	Total funds 2019 £ 42,177 13,997
		56,174

Page 10

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

4. Analysis of grants

Grants to Institutions Total 2019 Name of institution Animals in Asia Apama Nature Barneys Dog Rescue The Brooke Bulldog Rescue & Rehoming Trust Care4Cats Caetacean Research & rescue Compassion in World Farming Dartmoor Livestock Wildlife Foundation David Shepherd Wildlife Foundation Dogs Friends Eden Animal Rescue Feline Rescue Ferne Animal Sanctuary Subtotal carried forward	Grants to Institutions 2020 £ 10,500 39,500 2020 £ 1,000 - - - 500 - - - - 500 1,000 - - - 3,000	Grants to Institutions 2020 £ 10,500 39,500 2020 £ 1,000 - - - 500 - - - - 500 1,000 - - - 3,000	Total funds 2020 Total funds 2019 £ £ 10,500 39,500 39,500 2019 £ 1,500 1,000 1,000 1,500 - 1,000 1,500 1,000 1,500 - - 1,000 1,000 1,500 13,500	Total funds 2019 £ 39,500
		3,000

Page 11

The Animal Defence Trust

Notes to the financial statements

for the year ended 30 November 2020

Name of institution Subtotal brought forward Four Paws UK Freshfields rescue Friends of the Strays of Greece Gower Bird Hospital Happy Landings Animal Shelter Help in Suffering Himalayan Animal Treatment Centre Kathmandu Animal Treatment Marias Animal Shelter Moorview rescue Nowzad Dogs Prickles Hedgehog Rescue Prickles and Paws Rain Rescue Shepreth Wildlife Conservation Save Haven for Donkeys in Holy Land Sebakwe Black Rhino Trust Secret World Southern Thailand Elephant Foundation SOS Animals UK SOS Animal Algarve Tree of Life for Animals Woodside Animal Welfare Trust

2020 2019 £ £ 3,000 13,500 - 1,500 - 1,000 500 1,000 1,000 1,000 - 1,500 500 1,500 1,000 1,000 - 1,000 - 1,000 - 1,000 500 1,000 500 1,000 500 - - 1,000 - 1,000 1,000 1,500 - 1,500 - 1,000 1,000 1,500 - 1,000 - 1,000 1,000 1,500 - 1,500 10,500 39,500

5. Analysis of expenditure on charitable activities

Summary by fund type

Grants to Institutions Support Costs Governance Costs	Unrestricted funds 2020 £ 10,500 35,423 3,410 49,333	Total funds 2020 £ 10,500 35,423 3,410 49,333	Total funds 2019 £ 39,500 35,144 3,410
			78,054

Page 12

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

6. Analysis of expenditure by activities

Grants to Institutions Support Costs Governance Costs Total 2019	Grant funding of activities 2020 £ 10,500 - - 10,500 39,500	Support costs 2020 £ - 35,423 3,410 38,833 38,554	Total funds 2020 £ 10,500 35,423 3,410 49,333 78,054	Total funds 2019 £ 39,500 35,144 3,410
				78,054

Analysis of support costs

Support Costs 2020 Governance Costs 2020 £ £ Investment Management Fees 10,503 - General Office Costs - - Grant Secretary Consultancy Fee 11,525 - Sundry Expenses 278 - Trustee Expenses - - IT Expenses 114 - Trust Administration 12,832 - Accounting Fees - 3,410 Printing & Stationery 171 - 35,423 3,410 Total 2019 35,144 3,410 7. Independent examiner's remuneration Fees payable to the charity's independent examiner for the independent examination of the charity's annual accounts	Total funds 2020 £ 10,503 - 11,525 278 - 114 12,832 3,410 171 38,833 38,554 2020 £ 3,410	Total funds 2019 £ 10,855 1,500 7,500 713 300 276 14,000 3,410 -
		38,554
		2019 £ 3,410

Page 13

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).

During the year, no Trustees received any benefits in kind (2019 - £NIL).

No Trustees receieved reimbursement of any expenses in the current year £NIL (2019 - Four Trustees received £300).

9. Fixed asset investments

Cost or valuation At 1 December 2019 Additions Disposals Revaluations Amounts written off At 30 November 2020 Net book value At 30 November 2020 At 30 November 2019	Listed investments £ 1,201,645 92,204 (95,442) (41,771) - 1,156,636 1,156,636 1,201,645	Unlisted investments £ 337,956 - - (18,341) - 319,615 319,615 337,956	Cash held on portfolio £ 4,026 - - - 6,735 10,761 10,761 4,026	Total £ 1,543,627 92,204 (95,442) (60,112) 6,735
				1,487,012 1,487,012
				1,543,627

Investments at market value comprise:

	UK	Overseas	2020	2019
	£	£	£	£
Listed Investments	622,232	534,404	1,156,636	1,201,645
Unlisted Investments	319,615	-	319,615	337,956
Cash held on portfolio	10,761	-	10,761	4,026

Page 14

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

Material Investments

Investments that make up more than 5% of the total market value above are as follows:

10. 11.		30 November 2020	30 November 2020	30 November 2019
			£	£
	Charities Property Fund (unlisted)		319,615	337,956
	Debtors Due within one year Prepayments and accrued income Creditors: Amounts falling due within one year Accruals and deferred income		2020 £ 7,912 2020 £ 7,600	2019 £ 12,026 2019 £ 3,550

Page 15

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

12. Statement of funds

Statement of funds - current year

					Balance at
	Balance at 1				30
	December			Gains/	November
	2019	Income	Expenditure	(Losses)	2020
	£	£	£	£	£
Unrestricted funds
General Funds	1,561,021	48,053	(49,333)	(60,112)	1,499,629
Statement of funds - prior year
					Balance at
	Balance at				30
	1 December			Gains/	November
	2018	Income	Expenditure	(Losses)	2019
	£	£	£	£	£
Unrestricted funds
General Funds	1,492,739	56,174	(78,054)	90,162	1,561,021

Page 16

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

13. Summary of funds

Summary of funds - current year

General funds	Balance at 1 December 2019 £ 1,561,021 Balance at 1 December 2018 £ 1,492,739	Income £ 48,053 Income £ 56,174	Expenditure £ (49,333) Expenditure £ (78,054)	Gains/ (Losses) £ (60,112) Gains/ (Losses) £ 90,162	Balance at 30 November 2020 £ 1,499,629
					Balance at 30 November 2019 £ 1,561,021
Summary of funds - prior year
General funds

14. Analysis of net assets between funds

Analysis of net assets between funds - current period

Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2020 £ 1,487,012 20,217 (7,600) 1,499,629	Total funds 2020 £ 1,487,012 20,217 (7,600)
		1,499,629

Analysis of net assets between funds - prior period

Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2019 £ 1,543,627 20,944 (3,550) 1,561,021	Total funds 2019 £ 1,543,627 20,944 (3,550)
		1,561,021

Page 17

The Animal Defence Trust

Notes to the financial statements for the year ended 30 November 2020

15. Related party transactions

During the year there were no related party transactions to report.

Prior to becoming a Trustee, A Meyer's recevied £12,832 from the Charity in connection with his role as the secretary.

Page 18