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2021-12-31-accounts

Charity number: 275415

RSPCA - MILTON KEYNES AND NORTH BUCKS

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

RSPCA - MILTON KEYNES AND NORTH BUCKS

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Chairman's statement 2
Trustees' report 3 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13- 27

DAFT

RSPCA - MILTON KEYNES AND NORTH BUCKS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees Ms G Scott-Chair
Ms J Ammon-Treasurer
Mr J Kelly
Ms S Jessop
Mr S Parker
Charity registered
number
275415
Principal office
60 Woburn Road
Heath and Reach
Leighton Buzzard
LU7 OAR
Secretary
G Scott
Accountants
MHA MacIntyre Hudson
Chartered Accountants
Moorgate House
201 Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 1LZ
Ms J Trilsbach
Ms F Stacey - Appointed 25/10/21

Page 1

RSPCA - MILTON KEYNES AND NORTH BUCKS

CHAIRPERSON'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

2021 has been another successful year for the branch, building on the work undertaken in the previous years to ensure the branch had a strong financial base whilst meeting the core objective of providing and investing in animal welfare in the local area.

Factors to our success in 2021 included ongoing support from businesses including Zooplus and Pets at Home, who provide goods and funding to directly support the branch animal welfare objectives and work in the local area. Our services remain in demand with our animal co-ordinators and volunteers working incredibly hard to continue to achieve amazing results in animal rescue, rehabilitation and rehoming.

Whilst intake numbers are reduced from previous years, the branch has rehomed 338 animals and helped many others through local welfare schemes providing additional financial support to help owned animals in need of veterinary care. Similar to previous years the majority of the branch animal intake is attributed to direct welfare work in the local area.

Operationally the branch has continued to be impacted by COVID in early 2021, however a number of the previous adaptions the branch had implemented allowed operations to continue widely unchanged through the first part of the year whilst government restrictions were in place. Our shops, despite challenges, are performing well and this is as a result of the hard work of our shops staff, volunteers and trustees who go over and above to make our shops a success. Additionally, whilst fundraising activities were limited in 2021, branch events returned late in the year with a successful Christmas Fayre.

Our aims for 2022 are to continue to rescue, rehabilitate and rehome animals in need across Milton Keynes and North Bucks and offer additional support for our local community by the provision of subsidised veterinary support for those facing financial hardship. In addition, the trustees are looking to ensure a stable future for the branch and make investments in the branch and staff which will help achieve these goals. To enable us to be successful in this, we will continue to build our network of volunteers, continue to raise awareness of the branch and our activities and ensure the branch remains finically stable through various fundraising activities.

Reflecting on 2021, it is through the hard work and commitment of our staff, volunteers and trustees that we have been successful in meeting our aims. I would like to thank our shop managers and fundraising volunteers for the work you do to raise funds for the branch and how you engage with our supporters. Thank you to our animal coordinators and all of our animal carers, who work tirelessly to care for each animal in need of rescue and rehabilitation, ensuring they receive all the care needed to prepare them for their future lives. Thank you to our supporters who have continued to donate to us financially and through our shops and to those that have adopted animals from through 2021.

Finally, I would like to extend my gratitude and thanks to my fellow trustees (both present and past) who continue to go above and beyond to ensure the branch moves forward. They all excel at navigating the branch through different challenges and work tirelessly to ensure we were able to continue to keep abandoned and unwanted animals safe and cared for. Without you all we would not be able to continue the amazing work we do.

Gillian Scott Chairperson

Page 2

RSPCA - MILTON KEYNES AND NORTH BUCKS

DAFT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document (the RSPCA Branch Rules), the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The Charity's objects are the sale of donated goods and other fundraising activities to raise funds for the benefit of animal welfare, neutering and rehoming.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Treasurer’s Report

The pandemic has still been active during 2021 and has halted or changed many of our operations and fundraising. We were in lockdown for a long period and the shops were not able to reopen till mid-April. This has obviously affected the figures but we have been helped considerably by government grants covering the shop closures.

Our branch is in a really good position as at 31st December 2021 with rehoming going well and fewer animals kept in our care for long periods. Due to the restrictions, many of our cats went to their new homes with neutering vouchers because the local vets could not carryout the operations and we did not want any animals to stay confined for long periods. There is an ongoing problem with severe vaccine shortages, so some cats have gone to their new homes unvaccinated. The new owners have had the vaccines done and sent us the bill. This has increased the cost of vaccines and neutering considerably this year but again, we could not justify keeping the animals on our premises for long periods.

We continue to monitor our shop sales as footfall has fallen in all venues. Our Bletchley store is the most vulnerable but is still working hard and is still making a profit towards our goals. Our Newport Pagnell store is improving and so we have employed a part time shop assistant. If this continues, we will employ a shop manager in 2022. Our Stony shop has been outstanding throughout these difficult times.

ANIMAL REHOMING FIGURES

Rehomed DOGS 1 CATS 302 RABBITS 20 OTHER (G. Pigs and birds) 14 Neutered 251 dogs, cats and rabbits

Welfare payments £6015, helping 95 animals and members of the public. We intend to increase our welfare payments and keep as many animals in their homes where possible.

The overall income for the year was £282,237 compared with £294,900 in 2020. An decrease of £12,663.

Page 4

RSPCA - MILTON KEYNES AND NORTH BUCKS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Main income

  1. Donations, legacies and grants £94,542

  2. Donations £18,724 - Regular giving; PayPal giving; donations; virgin money; charities trust

  3. RSPCA grants - door to door £24,134 donations from HQ

  4. Government grants - furlough and shop closures - £51,684 (wages £9,804) (shop closures £41,880)

  5. Other income £187,642

  6. Shop sales - £150,968 – increase of £44,237 from 2020

  7. Animal Sales - £19,015

  8. Fundraising events £10,814 including £5117 from Christmas Fayre

  9. Pet insurance commission £6555

  10. Subscriptions £290 from HQ

Expenditure

The overall expenditure for the year was £195,853 compared with £221,857 in 2020. A reduction of £26,004.

I am pleased to report that we have another year with an operating profit of £86,384.

Unrestricted Branch funds on 31st December 2021 stand at £482,784

Restricted funds £3,600 – The Van purchased in 2018. The restriction will be on the balance sheet until the van depreciates to a zero value.

Money in the bank as at 31st December 2021

Lloyds - £92,736 NS & I - £342,000 TOTAL FUNDS £434,736

CONTRACTUAL AND MORAL OBLIGATIONS from January 2022

Rent

Our good financial position is in no small part helped by the numerous donations of food and supplies from different sources including Pets at Home and Amazon and Zooplus. However, our biggest support is from the large number of fosterers, volunteers and donators that help to keep the branch running smoothly.

The main body of the accounts discuss in more detail our charitable activities pursued for the public benefit and the group’s structure, governance and management. It is the policy of the charity that unrestricted funds which have not been designated for a specific purpose, should be maintained at a level between 3- and 6-months expenditure. We consider that reserves at this level will ensure, in the event of a significant drop in funding, we will be able to continue the charities current activities while consideration is given to ways additional funds may be raised. This level of funds has been maintained throughout the year. II believe we have a strong branch with very committed volunteers who work hard to keep the charity operational. I would like to thank our employees and the many volunteers in addition to the Trustees who willingly give up their time and allow us to operate as economically as we do. They all do a remarkable job and we could not manage without them.

Judy Ammon Branch Treasurer

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RSPCA - MILTON KEYNES AND NORTH BUCKS

DAFT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

  1. The MK and North Bucks RSPCA Branch is an unincorporated charitable association and a separately registered branch of the Royal Society for the Prevention of Cruelty to Animals (the Society), carrying out its direct animal welfare work in the areas of Milton Keynes and surrounding villages.

  2. The objects of the Branch are to promote the work and objectives of the Society - to prevent cruelty, promote kindness and alleviate suffering of all animals by all lawful means - with particular reference to the area of the Branch, in accordance with the policies of the Society.

  3. The trustees have reviewed the outcomes and achievements of our objectives and activities for the year, to ensure they remain focused on our charitable aims, and continue to deliver benefits to the public. We have complied with the duty under the Charities Act 2011 to have due regard to public benefit guidance published by the Commission.

Advancement of animal welfare

  1. Under the Charities Act 2011, the advancement of animal welfare is recognised as a distinct statutory charitable purpose. This legislation and the Animal Welfare Act of the same year indicate an acceptance by society that treating living creatures with compassion has a moral benefit for the public as a whole. Whilst this public benefit is clear, it is sometimes difficult to quantify and must be balanced against any detriment.

  2. The Branch's animal welfare work, although local in nature, benefits society at large, and also aims to help people in need with the care of their animals. The next section of this report highlights the Branch's main activities and demonstrates the benefit provided to the public. All our charitable activities, as described in more detail in the following pages of this report, focus on promoting kindness and preventing or suppressing cruelty to animals and are undertaken to further these purposes for the public benefit.

Charitable activities pursued for the public benefit

  1. We support our local Inspector(s) by taking in, free of charge, mistreated or abandoned animals, including pets whose owners suffer ill health or financial difficulties or pass away. The Society's Inspectorate (as well as providing education, information and advice) rescues animals in distress and enforces laws against the cruel mistreatment of animals in England and Wales by bringing prosecutions. This work is key to 'the prevention or suppression of cruelty' part of the RSPCA objects, and promotes humane sentiments towards animals which involves moral benefit to humankind as a whole.

  2. We provide subsidised veterinary treatment for animals which are sick or injured and belong to local people on low incomes, which are assessed on an individual basis. We do this through direct contact with the owner and the veterinary surgeons concerned. This work benefits those on means tested benefits by giving them financial help to obtain care for companion animals in need of veterinary treatment. Help is given in urgent or emergency situations in order that owners are able to get their animal seen by a vet. In some cases a proportion of the consultation charge is agreed, but in the most desperate of situations the whole consultation charge may be allowed, or the full cost of euthanasia agreed. The aim is to ensure that no animal is allowed to be left to suffer. Owners of course are usually on benefits, but some are on low income and struggling due to a sudden change of circumstances.

  3. When possible, financial commitments permitting, we provide subsidised neutering of companion animals for those in the Branch area on low incomes. We do this by direct contact with owner and veterinary surgeon. This work helps to control dog and cat populations through neutering and benefits those on means tested benefits by giving them financial help to neuter companion animals, thereby promoting responsible pet ownership.

Page 7

RSPCA - MILTON KEYNES AND NORTH BUCKS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Charitable activities pursued for the public benefit (continued)

  1. Animals in our care are vet checked and receive veterinary treatment, vaccination, neutering, micro-chipping and are assessed for re-homing. This work helps to control the incidence and spread of disease and suffering through vaccination and neutering.

  2. We re-home animals in need at low cost to people willing and able to have a companion animal. Whilst we recognise that companion animals provide measurable benefits to people's physical and mental health, we consider the provision of pets as subsidiary to the main charitable aim of this service, which is to reduce animal suffering. Our policy to charge a reasonable adoption fee for animals aims to highlight the ongoing personal and financial commitment of pet ownership. It would not be in the best interests of animals, and therefore would fall outside our objects, to re-home to those who could not afford them.

  3. We take in, free of charge, lost animals and take steps to reunite them with owners. This work benefits our local community (including local authorities) by preventing animals straying and posing a risk to themselves and to people through road traffic accidents.

  4. We respond to enquiries (both direct and via the Society's national call centre) from the public about animals locally. The public benefits from knowing that we can intervene to assist animals in need.

  5. We offer free animal care advice by providing leaflets on animal care, advice on our website and talking to people at fundraising events. The public benefits through the promotion of responsible pet ownership.

  6. Within the terms of our governing document, we support the National Society / other RSPCA branches / local animal welfare charities through collaborating on national and local awareness events, supporting the Inspectors and Animal Welfare officers with stray and injured animals and providing funds through our regional head quarters for distribution to other branches as agreed through the regional board.

We provide volunteering opportunities for those who wish to support our work, including trusteeship, fostering and fundraising. This benefits local people and companies by providing the possibility of doing work which is compassionate and rewarding.

Financial Review

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks

Structure, governance and management

The Milton Keynes & North Bucks RSPCA is an unincorporated charity and was registered on 5 April 1978. The charity operates as an independent branch subject to the National RSPCA branch rules (18 February 2009). A committee governs the branch and are elected every AGM. Committee members are the Trustees of the branch. Trustees are informed of their responsibilities prior to their acceptance of the role.

The Trustees hold meetings every month or bi-monthly and discuss any arising issues and vote for the best solutions. Day to day running of the animal centre is delegated to the Animal Co-ordinators, and the day to day running of the shops is delegated to the shop managers.

Page 8

DAFT

RSPCA - MILTON KEYNES AND NORTH BUCKS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management (continued)

The Trustees actively review financial and operational matters affecting the branch and ensure that procedures are in place to comply with legal requirements and to prevent loss of income through fraud and error.

Statement of Trustees' Responsibilities

The Trustees are responsible for preparing the Trustess' 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 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:

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 its behalf by:

................. J Ammon Trustee Date : 27 May 2022

Page 9

RSPCA - MILTON KEYNES AND NORTH BUCKS

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Independent examiner's report to the Trustees of RSPCA - Milton Keynes and North Bucks

I report to the Trustees on my examination of the financial statements of RSPCA - Milton Keynes and North Bucks (the Charity) for the year ended 31 December 202 1 .

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

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants, which is one of the listed bodies.

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:

Elizabeth Newell BA (HONS) FCA MHA MacIntyre Hudson Chartered Accountants Milton Keynes

Page 10

RSPCA - MILTON KEYNES AND NORTH BUCKS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Reconciliation of funds:
Total funds brought forward
Charitable activities
4
Total income
Net movement in funds
Net movement in funds
Total funds carried forward
Income from:
Donations,legacies and grants
3
Investments
5		 Restricted
funds
2021
£
-
1,360
1,360
4,960
-
-
(1,360)
(1,360)
3,600
-
-		 Unrestricted
funds
2021
£
90,341
104,152
194,493
395,040
187,642
282,237
87,744
87,744
482,784
94,542
53		 Total
funds
2021
£
90,341
105,512
195,853
400,000
187,642
282,237
86,384
86,384
486,384
94,542
53		 Total
funds
2020
£
148,680
294,900
143,480
2,740
103,673
118,184
221,857
73,043
326,957
73,043
400,000

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

The notes on pages 13 to 27 form part of these financial statements.

Page 11

RSPCA - MILTON KEYNES AND NORTH BUCKS

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Creditors: amounts falling due within one
year
13
Net current assets
Charity funds
Restricted funds
Total unrestricted funds
Debtors
12
Cash at bank and in hand
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Unrestricted funds
Total funds		 (14,613)
93,205
46,716
139,921
482,785		 2021
£
19,077
342,000
361,077
3,600
125,308
486,385
486,385
486,385
482,785
486,385		 (15,349)
44,973
48,5
16
93,489
395,040		 2020
£
24,860
297,000
321,860
78,140
400,000
400,000
400,000
4,960
395,040
400,000

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ J Ammon

Trustee Date: 27 May 2022

The notes on pages 13 to 27 form part of these financial statements.

Page 12

RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

1.1 Charity Information

RSPCA - Milton Keynes and North Bucks is a registered charity in England and Wales and is unincorporated. The address of the principal office is 60 Woburn Road, Heath and Reach, Leighton Buzzard, LU7 0AR.

1.2 Accounting convention

The financial statements have been prepared in accordance with the RSPCA branch rules, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statments are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statments have been prepared under the historical cost convention and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

Page 13

RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.5 Income resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.6 Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Fundraising costs are those incurred in seeking voluntary contributions.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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 basis:

-
Motor vehicles - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Computer equipment - 25% reducing balance

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.8 Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

1.9 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Stocks

No items of stock are bought in; all shop stock is donated and therefore has a nil cost.

1.11 Cash at bank and in hand

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.12 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Donations , legacies and grants

Total 2021
Donations
Legacies
RSPCA - Neutering
Government grants
RSPCA - Door to Door
Other income
Total 2020
Grants
Government grants
RSPCA - Door to Door
Donations		 Unrestricted
funds
2021
£
Unrestricted
funds
2020
£
27,143
10,000
2,052
76,972
25,173
2,140
143,480
41,880
9,804
24,134
18,724
94,542		 Total
funds
2021
£
41,880
9,804
24,134
18,724
94,542
Total
funds
2020
£
27,143
10,000
2,052
76,972
25,173
2,140
143,480

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

4. Charitable activities

Total 2021
Fundraising events
Shop income
Income from animal sales
Pet insurance sales
Subscriptions received
Total 2020
Fundraising events
Shop income
Income from animal sales
Pet insurance sales
Subscriptions received		 Unrestricted
funds
2021
£
Unrestricted
funds
2020
£
4,245
106,731
31,046
6,142
516
148,680
10,814
150,968
19,015
6,555
290
187,642		 Total
funds
2021
£
10,814
150,968
19,015
6,555
290
187,642
Total
funds
2020
£
4,245
106,731
31,046
6,142
516
148,680

5. Investment

Unrestricted Total
funds funds
2021 2021
£ £
Income from investments 53 53

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Investment (continued)

Unrestricted Total
funds funds
2020 2020
£ £
Income from investments 2,740 2,740

6. Raising funds Other trading activities

Unrestricted
funds
2021
£
Shop costs - other office costs
5,505
Shop costs - rent and rates
39,579
Shop costs - light and heat
2,626
Shop costs - repairs and maintenance
515
Shop costs - insurance
1,785
Shop costs - purchases
5,767
Shop costs - wages and salaries
34,564
Total 2021
90,341		 Total
funds
2021
£
5,505
39,579
2,626
515
1,785
5,767
34,564
90,341

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

6. Raising funds (continued)

Other trading activities (continued)

Shop costs - other office costs
Shop costs - rent and rates
Shop costs - light and heat
Shop costs - repairs and maintenance
Shop costs - insurance
Shop costs - purchases
Shop costs - wages and salaries
Total 2020		 Unrestricted
funds
2020
£
2,684
40,150
3,338
3,142
1,009
3,984
49,366
103,673		 Total
funds
2020
£
2,684
40,150
3,338
3,142
1,009
3,984
49,366
103,673

Page 20

RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Charitable activities

Summary by fund type

Staff Costs
Animal Food and Supplies
VAT fees and medications
Depreciation
Repairs and Maintainance
Insurance
Branch contribution
Motor and travel costs
Printing, postage and stationery
Telephone
Depreciation and Examiner's Fee		 Restricted
funds
2021
£
-
-
-
1,360
-
-
-
-
-
-
-
1,360		 Unrestricted
funds
2021
£
15,458
3,240
67,229
-
44
1,370
3,858
2,785
2,330
1,353
6,485
104,152		 Total
funds
2021
£
15,458
3,240
67,229
1,360
44
1,370
3,858
2,785
2,330
1,353
6,485
105,512
Staff Costs
Animal food and supplies
Vet fees and medications
Motor costs
Depreciation
Bad debts written off/(recovered)
Repairs and maintenance
Insurance
Branch Contribution
Motor and travel costs
Printing, postage and stationery
Telephone
Depreciation, Examiner's fee and legal fees		 Restricted
funds
2020
£
2,308
-
-
-
495
1,813
-
-
-
-
-
-
-
-		 Unrestricted
funds
2020
£
115,876
14,753
5,167
67,752
-
-
613
5,212
1,605
5,110
1,374
5,125
1,353
7,812		 Total
funds
2020
£
118,184
14,753
5,167
67,752
495
1,813
613
5,212
1,605
5,110
1,374
5,125
1,353
7,812

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Staff costs

2021
£
Wages and salaries
48,663
48,663
The average number of persons employed by the Charity during the year was as follows:
2021
No.
Number of employees
4		 2020
£
64,119
64,119
2020
No.
5

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

None of the trustees received any remuneration during the year (2020 - £NIL) .

During the year ended 31 December 2021, t rustee expenses of £2,381 have been incurred (2020 - £7,073) .

10. Tangible fixed assets

Cost or valuation
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021		 Motor
vehicles
£
10,092
-
10,092
4,652
1,360
6,012		 Fixtures and
fittings
£
69,844
502
70,346
53,711
4,103
57,814		 Computer
equipment
£
5,007
-
5,007
1,720
822
2,542		 Total
£
84,943
502
85,445
60,083
6,285
66,368

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. Tangible fixed assets (continued)

Net book value
At 31 December 2021
At 31 December 2020
11.
Investments
Cost or valuation
At 1 January 2021
Additions
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Motor
vehicles
£
4,080
5,440		 Fixtures and
fittings
£
12,532
16,133		 Computer
equipment
£
2,465
3,287		 Total
£
19,077
24,860
Other fixed
asset
investments
£
297,000
45,000
342,000
342,000
297,000

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
46,716
12,378
22,763
11,575		 2020
£
,510
9,563
25,_900
_9
44,973

13. Creditors: Amounts falling due within one year

Trade creditors
Accruals and deferred income		 2021
£
12,175
2,438
14,613		 2020
£
12,473
2,876
15,349

14. Retirement benefit schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

15. Financial instruments

2021 2020
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 93,205 48,516

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RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Summary of funds

Restricted funds
General funds		 Balance at 1
January
2021
£
4,960
400,000
395,040		 Income
£
-
282,238
282,238		 Expenditure
£
(1,360)
(195,853)
(194,493)		 Balance at
31
December
2021
£
3,600
486,385
482,785

17. Analysis of net assets between funds

Total
Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
3,600
15,077
-
342,000
-
46,716
-
93,205
-
(14,613)
3,600
482,785		 Total
funds
2021
£
19,077
342,000
46,716
93,205
(14,613)
486,385

Page 26

RSPCA - MILTON KEYNES AND NORTH BUCKS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Analysis of net assets between funds (continued)

Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Total		 Endowment
funds
2020
£
24,860
297,000
44,941
48,548
(15,349)
400,000		 Restricted
funds
2020
£
-
-
-
-
-
-		 Unrestricted
funds
2020
£
-
-
-
-
-
-		 Total
funds
2020
£
24,860
297,000
44,941
48,548
(15,349)
400,000

18. Related party transactions

There were no disclosable related party transactions during the year (2020 - none)

Page 27