**Charity number: 275415**
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 - 8|
|**Independent Examiner’s Report**|9|
|**Statement of financial activities**|10|
|**Balance sheet**|11|
|**Notes to the financial statements**|12 - 24|
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES, AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Trustees**
Ms. G Scott – Chair Ms. J Ammon – Treasurer Mr. J Kelly Ms. S Jessop Mr. S Parker – Resigned May 2022 Ms. J Trilsbach Ms. F Stacey – Resigned January 2022
**Charity registered number** 275415 **Principal office** 4 Church Street Milton Keynes MK11 1BD **Secretary** Ms. G Scott **Accountants** 3 Little Birds Finance Ltd MB #25887 PO Box 480 Sevenoaks TN13 9JY
Page | 1
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **CHAIRPERSON'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
## Chair Statement
2022 has been another successful year for the branch, building on the work undertaken in the previous years to ensure the branch has a strong financial base whilst meeting the core objective of providing and investing in animal welfare in the local area.
The branch trustees have continued to focus on ensuring branch stability whilst making provisions to increase welfare support for local animals as the cost-of-living crisis continues. To further support this the branch has expanded staffing with 2 animal coordinators, a part time fundraiser and a temporary branch manager in addition to our existing shop managers and support staff.
The branch has benefited from support from multiple organisations including Pets at Home and Zooplus who both kindly provide the branch with donations of supplies for direct use in caring for the many animals who are helped by the branch. Our partner vets in Milton Keynes and the surrounding areas who continue to support the branch with medical care at a reduced rate and providing appointment spaces for the many animals coming into the branch each week. Lastly several local supermarkets now have donation bins in store increasing our reach of public donation points.
Whilst the traditional branch services of rescue, rehabilitation and rehoming remain in demand, the branch in 2022 made a specific decision to increase local welfare provisions to support animals where they can remain with their families. Whilst the branch has always provided support for veterinary fees for low-income households the funding assigned to this has increased allowing the scheme to provide more support than ever. In addition, the branch has created animal food bank in partnership with Give Food through the Great Linford distribution point, the food bank is supplied by local and corporate donations giving people in need support to enable them to feed their companions in times of hardship. In addition to welfare support the branch has been focused on supporting the populations of unowned animals in the local area, especially those in need to rescue, this has been driven by our animal coordinators and volunteers who now have a coordinated team who are trained assist these individuals in getting the care they need.
Our aims for 2023 are to continue to rescue, rehabilitate and rehome animals in need across Milton Keynes and North Bucks and to continue to expand and offer additional support for our local community especially those facing financial hardship. In addition, the trustees continue to look 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 trustees and volunteers, continue to raise awareness of the branch and our activities, and ensure the branch remains finically stable through various fundraising activities.
Reflecting on 2022, I would like to thank everyone who supports the branch is so many ways. The public who donate directly to us, buy from our charity shops, support us at our events and provide homes for many of the animals rescued by the branch. Our many and wonderful volunteers who provide their time to support the branch, with a special mention for Louise Norman who volunteers her time and expertise to manage the small mammal side of the branch and Caroline Wells who runs our social media channels expertly. All of our staff, who are the face of the branch. Our fundraising staff, including our shop managers and staff, who all not only raise funds for the branch but also support their local communities and socialise the amazing work the branch does. Our animal coordinators who look after and manage the care of all the animals who the branch have rescued and rehomed, often going above and beyond to help animals in need.
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 multiple and new challenges, working 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 Date 23/06/2023
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**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees present their report and financial statements for the year ended 31 December 2022.
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**
Our branch is in a really good position as at 31[st] December 2022 with rehoming going well and having the finances to help more people care for their animals at home.
There have been issues with both capacity at veterinary surgeries and vaccines in short supply. The branch policy is to rehome all animals as soon as is reasonably possible, so we have rehomed a number of pets with vouchers to cover the cost of vaccination and neutering. We do not believe animals should be confined for long periods.
Two of our stores have performed better this year but sadly, the footfall in our Bletchley store is still falling and is the most vulnerable. We were still working hard to make this store profitable until February 2023 when we decided to close the store in August 2023 We have employed a shop manager for our Newport Pagnell Shop. Stony Stratford shop continues to do well.
## **ANIMAL REHOMING FIGURES**
Rehomed DOGS 11 CATS 441 RABBITS 11 OTHER (G. Pigs and birds) 21 Neutered 334 dogs, cats and rabbits including 54 welfare animals.
Welfare payments £12,991, helping 124 animals and members of the public. We intend to continue to increase our welfare payments and keep as many animals as possible in their homes where possible.
The overall income for the year was £381,306 compared with £284,846 in 2021. An increase of £96,460.
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**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Main income**
1. Donations, legacies and grants £96,742
- Donations £14,815 - Regular giving; PayPal giving; donations; virgin money; charities trust
- Legacies £58,709 – Two legacies of £48,709 and £10,000
- RSPCA grants - door to door £23,218 donations from HQ
2. Other income £187,642
- Shop sales - £230.726 – increase of £76,725 from 2021
- Animal Sales - £35,729
- Fundraising events £6,393
- Pet insurance commission £6,844
- Subscriptions £306 from HQ
## **Expenditure**
The overall expenditure for the year was £318,086 compared with £195,462 in 2021. An increase of £122,624.
We have increased the number of employees this year, allowing the trustees to concentrate on general running of the branch. We have a second animal coordinator and a fundraiser to complement the other staff bringing out total number of employees to 9.
The majority of the outgoings are veterinary fees which have increased from £67,228 in 2021 to £113,954 in 2022. Part of these are attributable to animal rehoming costs. With the cost-of-living crisis, prices have increased but we have also helped more people and animals this year. Electricity costs have risen markedly and will be reviewed regularly
I am pleased to report that we have another year with an operating surplus of £63,220. Unrestricted Branch funds on 31st December 2022 stand at £547,024.
Restricted funds £2,580 – 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 2022**
Lloyds - £65,768 NS & I - £462,000
## **CONTRACTUAL AND MORAL OBLIGATIONS**
Rent
- Bletchley end of lease Oct 2023
- Rent £18,000
- TOTAL DUE £15,000 to October 2023
- Stony lease ends 25/3/2024
- Rent £10,000 TOTAL DUE £12,500
- Newport break clause 1/4/2024 Rent £13,000 TOTAL DUE £16,250
Page | 4
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
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. I 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.
## **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.
Page | 5
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 | 6
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Charitable activities pursued for the public benefit (continued)**
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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**
## **Reserves Policy**
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 Coordinators, and the day-to-day running of the shops is delegated to the shop managers.
Page | 7
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 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 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 its behalf by:
**J Ammon** Treasurer Trustee Date 23/06/2023
Page | 8
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 2022.
## **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 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 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 the Association of Accounting Technicians, which is one of the listed bodies.
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.
**N Couldridge**
## **3 Little Birds Finance Ltd**
MB #25887 PO Box 480 Sevenoaks TN13 9JY Date 22/06/2023
Page | 9
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Income from:**
Donations, legacies and grants
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**-**
**96,742**
**96,742**
**-**
**279,999**
**279,999**
**-**
**255**
**255**
**-**
**4,310**
**4,310**
**-**
**381,306**
**381,306**
**-**
**145,450**
**145,450**
**1,020**
**171,616**
**172,636**
**1,020**
**317,066**
**318,086**
**(1,020)**
**64,240**
**63,220**
**3,600**
**482,784**
**486,384**
**(1,020)**
**64,240**
**63,220**
**2,580**
**547,024**
**549,604**|_Total_
_Funds restated_
_2021_
_£_
_94,542_
_190,251_
_-_
_53_|
|---|---|---|
|||_284,846_|
|||_99,916_
_98,545_|
|||_198,462_|
|||_86,384_|
|||_400,000_
_86,384_|
|||_486,384_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 24 form part of these financial statements.
Page | 10
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|**Fixed assets**
**Note**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one year
16
**Net current assets/(liabilities)**
**Total assets less current liabilities**
Creditors: amounts falling due after one year
Provisions for liabilities
**Total net assets/ (liabilities)**
**Charity funds**
Restricted funds
Unrestricted funds
Total unrestricted funds
**Total funds**|**33,175**
**66,841**|**2022**
**£**
**15,135**
**462,000**
**477,135**
**72,470**
**549,604**
_-_
_-_
**549,604**
**2,580**
**547,024**
**549,604**|_46,716_
_93,204_|_2021_
_£_
_19,077_
_342,000_|
|---|---|---|---|---|
|||||_361,077_
_125,307_|
||**100,016**
**(27,547)**||_139,920_
_(14,613)_||
||**547,024**||_482,784_||
|||||_486,384_
-
_-_|
|||||_486,384_|
|||||_3,600_
_482,784_|
||||||
|||||_486,384_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**J Ammon** Trustee Date: 23/06/2023
The notes on pages 12 to 24 form part of these financial statements.
Page | 11
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. Charity Information**
RSPCA - Milton Keynes and North Bucks is a registered charity in England and Wales and is unincorporated. It 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 note(s). The address of the principal office is 4 Church Street Milton Keynes MK11 1BD.
## **2. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
- **a.** 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 statements 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 statements have been prepared under the historical cost convention and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **b. 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.
## **c. 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 | 12
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **d. 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.
## **e. 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.
## **f. Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **g. Allocation of support and governance costs**
Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include office costs, management, and governance costs which the support the general running costs of the charity.
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to independent examination fees and legal fees together with an apportionment of overhead and support costs.
Support and Governance costs are allocated to charitable activities in proportion to the direct charitable expenditure on that activity, where the charity considers that support costs are incurred as part of the delivery of that activity.
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**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **h. Pension**
The Charity operates a defined contribution scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **i. Operating leases**
The Charity classifies the rental lease as an operating lease; the title to the building remains with the lessor.
Rental charges are charged on a straight line basis over the term of the lease.
## **j. 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
## **k. 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.
## **l. 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).
## **m. Stocks**
The majority of stock on hand is donated goods of nil value. The remaining stock for resale is of immaterial value and therefore not accounted for.
## **n. 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.
Page | 14
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **o. 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.
## **p. 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.
Page | 15
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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**
|**3. Donations**,**legacies and grants**||
|---|---|
|Donations
Sponsorship of Pens
Legacies
Grants
Government Grants
RSPCA - Door to Door
**Total**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
Total
funds
**2022**
**£**
**2022**
**£**
**2022**
**£**
2021
£
-
13,838
**13,838**
_18,421_
977
**977**
_303_
-
58,709
**58,709**
_-_
-
**-**
_41,880_
-
**-**
_9,804_
-
23,218
**23,218**
_24,134_|
||-
96,742
**96.742**
_94,542_|
In 2021, all income from donations, legacies and grants was attributable to unrestricted funds.
## **4. Charitable Activities**
|**4. Charitable Activities**||
|---|---|
|Fundraising Events
Shop Income from New Goods
Shop Income from Donated Goods
Income from Animal Sales
Pet Insurance Sales
Subscriptions Received
**Total**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
Total
funds
**2022**
**£**
**2022**
**£**
**2022**
**£**
2021
£
6,393
**6,393**
_10,389_
3,918
**3,918**
_3,191_
226,808
**226,808**
_150,811_
35,729
**35,729**
_19,015_
6,844
**6,844**
_6,555_
306
**306**
_290_|
||-
279,999
**279,999**
_190,251_|
In 2021, all income from charitable activities was attributable to unrestricted funds.
Page | 16
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. Other Trading Income**
|**Trading Income**|||||
|---|---|---|---|---|
||**Restricted**|**Unrestricted**|**Total**|Total|
||**funds**|**funds**|**funds**|funds|
||**2022**|**2022**|**2022**|2021|
||**£**|**£**|**£**|£|
|Insurance Claim|-|255|**255**|_-_|
|**Total**|-|255|**255**|_-_|
In 2021, other trading income was attributable to unrestricted funds.
## **6. Investment**
|Income from investments
**Total**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
Total
funds
**2022**
**£**
**2022**
**£**
**2022**
**£**
2021
£
-
4,310
**4,310**
_53_|
|---|---|
||-
4,310
**4,310**
_53_|
In 2021, all investments was attributable to unrestricted funds.
Page | 17
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **7. Cost of Raising Funds**
|**7. Cost of Raising Funds**||
|---|---|
|**Note**
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 Staff Costs inc. Training
Shop Payment Charges
Depreciation of Shop Assets
Loss on Disposal of Shop Assets
Support Costs
9
Fundraising Costs and Advertising
Fundraising Staff Costs
**Total**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
Total
funds
restated
**2022**
**£**
**2022**
**£**
**2022**
**£**
2021
£
-
7,565
**7,565**
_5,462_
-
47,962
**47,962**
_39,579_
-
5,009
**5,009**
_2,626_
-
1,030
**1,030**
_891_
-
1,729
**1,729**
_1,785_
-
4,063
**4,063**
_5,499_
-
57,160
**57,160**
_34,564_
-
3,087
**3,087**
_1,752_
-
2,468
**2,468**
_3,372_
-
47
**47**
-
-
11,378
**11,378**
_3,019_
-
1,187
**1,187**
_1,366_
-
2,765
**2,765**
_-_|
||-
145,450
**145,450**
_99,916_|
In 2021, all the costs of raising fund were attributable to unrestricted funds.
## **8. Charitable Activities Expenditure**
|**8. Charitable Activities Expenditure**||
|---|---|
|**Note**
Staff Costs
Animal Food and Supplies
Premises Costs
Vet Fees and Medications
Animal Rehoming Costs
Depreciation of Assets
Repairs and Maintenance
Branch contribution
Motor and Travel Costs
Charitable Activity Admin Costs
Support Costs
9
**Total**|**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**funds**
Total
funds
restated
**2022**
**£**
**2022**
**£**
**2022**
**£**
2021
£
-
26,169
**26,169**
_15,458_
-
2,772
**2,772**
_742_
-
2,384
**2,384**
_1,366_
-
105,083
**105,083**
_62,682_
13,608
**13,608**
_7,573_
1,020
1,557
**2,577**
_2,913_
-
2,688
**2,688**
_44_
-
551
**551**
_551_
-
3,643
**3,643**
_2,785_
-
1,783
**1,783**
_1,412_
-
11,378
**11,378**
_3,019_|
||1,020
171,616
**172,636**
_98,545_|
In 2021, £97,185 of expenditure on charitable activities was attributable to the unrestricted fund and the remaining £1,360 was attributable to the restricted fund.
Page | 18
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **9. Support Costs**
|**Note**
Governance
10
General Admin Costs
Insurance
Hospitality
**Total**
_9.1 Support Costs (prior year)_
Note
_Governance_
10
_General Admin Costs_
_Insurance_
_Hospitality_
_Total_
**10. Governance**
Accountant and Examiner Fees
Bank Fees
Legal & Professional Fees
Management Consultant
Trustee Meetings and Expenses
**Total**|**Raising**
**Funds**
**Charitable**
**Activities**
**Total**
**Costs**
**Basis**
**2022**
**£**
**2022**
**£**
**2022**
**£**
**2022**
9,902
9,902
**19,804**
_Equal distribution_
715
715
**1,430**
_Equal distribution_
730
730
**1,461**
_Equal distribution_
31
31
**61**
_Equal distribution_
11,378
11,378
**22,756**
_Raising_
_Funds_
_Charitable_
_Activities_
_Total_
_Costs_
_Basis_
_2021_
_£_
_2021_
_£_
_2021_
_£_
_2021_
_1,364_
_1,364_
_2,728_
_Equal distribution_
_970_
_970_
_1,941_
_Equal distribution_
_685_
_685_
_1,370_
_Equal distribution_
_-_
_-_
_-_
_Equal distribution_
_3,019_
_3,019_
_6,039_
**2022**
**£**
**2021**
**£**
**1,449**
_1,560_
**1,055**
_900_
**568**
_268_
**16,667**
_-_
**66**
_-_
**19,804**
_2,728_|
|---|---|
Page | 19
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR** ENDED 31 DECEMBER 2022
## **11. Staff Costs**
|**1. Staff Costs**|||
|---|---|---|
|Wages and salaries
**Total**
The average number of persons employed by the Charity during the year was
Number of employees|**2022**
**£**
**_85,999_**
**_85,999_**
as follows:
**2022**
**No.**
**_8_**|2021
£
_48,663_|
|||_48,663_|
|||2021
No.
_4_|
No employee received remuneration amounting to more than £60,000 in either year.
## **12. Trustees’ remuneration and expenses**
None of the trustees received any remuneration during the year _(2021 - £NIL)_ .
During the year ended 31 December 2022, t rustee expenses of £6,548 have been incurred _(2021 - £2,381)_ .
Page | 20
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2022
Additions
Disposals
At 31 December 2022
**Depreciation**
At 1 January 2022
Eliminated on disposal
Charge for the year
At 31 December 2022
**Net Book Value**
At 1 January 2022
At 31 December 2022|**Motor**
**Vehicles**
**£**
**Fixtures**
**and**
**Fittings**
**£**
**Computer**
**Equipment**
**£**
**Total**
**£**
10,092
70,346
5,007
85,445
-
480
671
1,151
-
(525)
-
(525)|
|---|---|
||**10,092**
**70,301**
**5,678**
**86,071**|
||6,012
57,814
2,542
66,368
-
(477)
-
(477)
1,020
3,253
784
5,057|
||**7,032**
**60,578**
**3,326**
**70,936**|
||4,080
12,532
2,465
19,077|
||**3,060**
**9,723**
**2,352**
**15,135**|
## **14. Investments**
|**Cost or valuation**
At 1 January 2022
Movement in the year
At 31 December 2022
**Net Book Value**
At 1 January 2022
At 31 December 2022|**Other fixed**
**asset**
**investments**
**£**
342,000
120,000|
|---|---|
||**462,000**|
||342,000|
||**462,000**|
Page | 21
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15. Debtors**
|Trade Debtors
Other Debtors
Prepayments and accrued income
**Total**|**2022**
**£**
**2021**
**£**
**12,780**
12,378
**8,867**
22,763
**11,528**
11,575|
|---|---|
||**33,175**
46,716|
## **16. Creditors: Amounts falling due within one year**
|Trade Creditors
Other Creditors
Accruals and deferred income
**Total**|**2022**
**£**
**2021**
**£**
**24,053**
12,175
**1,017**
-
**2,477**
2,438|
|---|---|
||**27,574**
14,613|
## **17. 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.
## **18. Financial instruments**
|**Financial Assets**
Financial assets measured at fair value through income
and expenditure
**Total**|**2022**
**£**
**2021**
**£**
**66,841**
93,205|
|---|---|
||**66,841**
93,205|
Page | 22
## **RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **19. Summary of funds**
|**19. Summary of funds**||
|---|---|
|General Funds
Restricted funds|**Balance at**
**1 January**
**2022**
**£**
**Income**
**£**
**Expenditure**
**£**
**Balance at**
**31**
**December**
**2022**
**£**
**482,784**
**381,306**
**(317,030)**
**547,059**
**3,600**
**-**
**(1,020)**
**2,580**|
||**486,384**
**381,306**
**(318,050)**
**549,639**|
## **20. Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds 2022**
**£**
**Unrestricted**
**funds 2022**
**£**
**Total funds**
**2022**
**£**
2,580
12,591
**15,171**
-
462,000
**462,000**
-
100,016
**33,175**
-
(27,547)
**27,547**|
|---|---|
||3,600
482,785
**486,385**|
## 20.1 Analysis of net assets between funds (prior year)
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total|Restricted
funds 2021
£
Unrestricted
funds 2021
£
Total funds
2021
£
3,600
15,077
19,077
-
342,000
342,000
-
139,921
93,205
-
(14,613)
(14,613)|
|---|---|
||3,600
482,785
486,385|
## **21. Lease Commitments**
Total future minimum lease payments under the current operating lease are as follows:
|Not later than one year
Later than one and not later than five years|**2022**
**2021**
**£**
**£**
38,000
_41,000_
5,750
_46,750_|
|---|---|
||**43,750**
_87,750_|
## **22. Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
Page | 23
**RSPCA - MILTON KEYNES AND NORTH BUCKS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **23. Prior year adjustments**
## 23.1 Income
|Donations
Sponsorship of pens
Shop Income
Shop Income from new goods
Shop Income from donated goods
Fundraising events
Total|**Original**
**2021**
**£**
**Movement**
**2021**
**£**
**Error**
**Correction**
**2021**
**£**
**Restated**
**2021**
**£**
18,724
(303)
-
**18,421**
303
-
**303**
150,968
150,968
-
**-**
157
3,034
**3,191**
150,811
**150,811**
10,814
-
(425)
**10,389**|
|---|---|
||-
2,609|
Restated Income relate to a change in presentation of accounts in the year ended 31st December 2022. In making this change some immaterial errors were also brought to our attention and updated
## 23.2 Expenditure
|Cost of Raising Funds
Charitable Activities
Total|**Original**
**2021**
**£**
**Movement**
**2021**
**£**
**Error**
**Correction**
**2021**
**£**
**Restated**
**2021**
**£**
90,341
6,966
2,609
**99,916**
105,512
(6,967)
**98,545**|
|---|---|
||-
2,609|
Restated Expenses relate to a change in presentation of accounts in the year ended 31st December 2022. In making this change some immaterial errors were also brought to our attention and updated
Page | 24