REGISTERED COMPANY NUMBER: 01601182 (England and Wales) REGISTERED CHARITY NUMBER: 283944
Report of the Trustees and Audited Financial Statements
for the Year Ended 31 August 2022
for
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Parker Cavendish Chartered Accountants Registered Auditor 28 Church Road Stanmore Middlesex HA7 4XR
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Report of the Independent Auditors | 4 | to | 7 |
| Statement of Financial Activities | 8 | ||
| Statement of Financial Position | 9 | ||
| Notes to the Financial Statements | 10 | to | 16 |
| Detailed Statement of Financial Activities | 17 |
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Report of the Trustees for the Year Ended 31 August 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (FRS102 SORP) ,effective 1 January 2015.
OBJECTIVES AND ACTIVITIES
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
ACHIEVEMENT AND PERFORMANCE
Development, Activities and Achievements in this year
The trustees consider that the performance of the charity this year has been satisfactory. Donations to charitable organisations in the year amounted to £240,000 (2021 £253,500). The company has continued to support similar beneficiaries as in earlier years.
FINANCIAL REVIEW
Fixed Asset Investments
Details of movements in fixed asset investments are set out in note 9 to the financial statements.
Financial position & transactions
The Statement of Financial Activities shows a net surplus/( deficit) for the year of (£341,931) (2021: 574,191) and reserves of £5,263,615 (2021: £5,605,546) at the balance sheet date.
In accordance with policies for investment laid down in earlier years, the company has continued to monitor the amount of cash held on deposit and to invest in acceptable quoted investments when suitable opportunities arise during the year.
FUTURE PLANS
It continues to be the Board's intention to preserve the company's resources to ensure that donations can be maintained at acceptable levels in future years. The trustees believe that this policy will ensure that the company will have sufficient funds in the future to fulfil any obligation to which it is committed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document and principal activity
The charity's objective and principal activity continues to be that of funding veterinary research and the care and welfare of animals. This objective and activity has remained unchanged from previous years
Organisational structure
The charity is organised so that the trustees consult each other regularly to help manage the company's affairs. The trustees are assisted by various professional advisors.
Directors and Trustees
All directors of the company are also trustees of the charity, and there are no other trustees. All the trustees named on the company information sheet served throughout the year save where indicated. The board has the power to appoint additional trustees as it considers fit to do so.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01601182 (England and Wales)
Registered Charity number
283944
Registered office
Waters Edge Ferry Lane Moulsford Wallingford Oxfordshire OX10 9JF
1
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Report of the Trustees for the Year Ended 31 August 2022
Trustees R P J Price The Rev. M Tomlinson Mrs M Condon Lady M R Bodey Sir P J D Coleridge Dr H E Hughes Company Secretary R P J Price Auditors Parker Cavendish Chartered Accountants Registered Auditor 28 Church Road Stanmore Middlesex HA7 4XR Bankers Clydesdale Bank plc The Leadenhall Building 122 Leadenhall Street London EC3V 4AB Investment Advisers Schroder & Co. Limited 1 London Wall Barbican London EC2Y 5AU Blackrock Investment Management (UK) Limited 12 Throgmorton Avenue London EC2N 2DL
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Beryl Evetts And Robert Luff Animal Welfare Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
2
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Report of the Trustees for the Year Ended 31 August 2022
AUDITORS
The auditors, Parker Cavendish, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 3 May 2023 and signed on its behalf by:
R P J Price - Trustee
3
Report of the Independent Auditors to the Members of Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Opinion
We have audited the financial statements of Beryl Evetts And Robert Luff Animal Welfare Trust Limited (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 14 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
4
Report of the Independent Auditors to the Members of Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
5
Report of the Independent Auditors to the Members of Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the company through discussions with the directors and other management, and from our commercial knowledge and experience of the company's activities and our prior knowledge of the company's operations;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
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we assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, and any other applicable correspondence.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
6
Report of the Independent Auditors to the Members of Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Raymond Rubenstein (Senior Statutory Auditor) for and on behalf of Parker Cavendish Chartered Accountants Registered Auditor 28 Church Road Stanmore Middlesex HA7 4XR
3 May 2023
7
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2022
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Donations Governance costs Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted funds £ 193,314 240,000 41,017 281,017 (254,228) (341,931) 5,605,546 5,263,615 |
2021 Total funds £ 189,403 |
|---|---|---|
| 253,500 38,202 |
||
| 291,702 | ||
| 676,490 | ||
| 574,191 5,031,355 |
||
| 5,605,546 |
The notes form part of these financial statements
8
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Statement of Financial Position 31 August 2022
| Notes FIXED ASSETS Investments 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2022 2021 Unrestricted Total funds funds £ £ 5,165,633 5,494,841 1,310 815 112,094 126,393 113,404 127,208 (15,422) (16,503) 97,982 110,705 5,263,615 5,605,546 5,263,615 5,605,546 5,263,615 5,605,546 5,263,615 5,605,546 |
|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 May 2023 and were signed on its behalf by:
R P J Price - Trustee
The notes form part of these financial statements
9
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charites: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102) ), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and applicable company and charity law in the UK.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Assets and liabilities
Investments are stated at market value at the balance sheet date. Realised gains and losses on disposals in the year and unrealised gains and losses on investments at the balance sheet date are included in the Statement of Financial Activities.
Debtors and creditors are stated at settlement amount after any applicable discounts. Cash and bank deposits are stated at the cash amount. Cash and cash equivalents include deposits repayable on demand without penalty.
Governance costs
Governance and administration costs include all expenditure not directly related to the charitable activity. This includes remuneration for administrative services, audit, investment management and other professional fees.
Taxation & value added tax
The charity is exempt from corporation tax on its charitable activities.
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
Fund accounting
Unrestricted funds are freely available and can be used in accordance with the charitable objectives at the discretion of the trustees.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Investment income and interest Investment management fee rebates Deposit account interest |
2022 £ 187,886 4,900 528 193,314 |
2021 £ 184,711 4,574 118 |
| 189,403 |
continued...
10
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. GRANTS PAYABLE
Donations
| 2022 | 2021 |
|---|---|
| £ | £ |
| 240,000 | 253,500 |
continued...
11
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. GRANTS PAYABLE - continued
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Angels for Animals | 5,000 | - |
| Animal Asia Foundation | - | 5,000 |
| Birds of Poole Harbour | 7,500 | 7,500 |
| Barkingside | - | 2,500 |
| Beneath the Woods Sanctuary | - | 5,000 |
| Brent Lodge Bird & Wildlife Trust | 5,000 | - |
| Bentham and District Pet Rescue | - | 5,000 |
| Big Cats Sanctuary | 15,000 | 5,000 |
| Bulldog Rescue & Rehoming Trust | - | 5,000 |
| Cetacean Research and Rescue Centre | - | 5,000 |
| CAT Welfare Group | 5,000 | - |
| Communities for Horses | - | 5,000 |
| Cats Protection Birmingham | 2,500 | 2,000 |
| Cuan Wildlife Rescue | - | 5,000 |
| Dog Friends | - | 5,000 |
| Eden Animal Rescue | 1,000 | |
| ESPA | 5,000 | - |
| Four Paws | 2,500 | - |
| Friends of Animals | - | 5,000 |
| Ferne Animal Sanctuary | - | 5,000 |
| Flori's Friends | 5,000 | - |
| Gorse Hill City Farm | 5,000 | - |
| Greek Animal Welfare Trust | 5,000 | - |
| Goodlife Dog Rescue | - | 5,000 |
| Hart Wildlife Sanctuary | 5,000 | - |
| Himalayan Animal Welfare Treatment Centre | 5,000 | - |
| Horseworld Trust | 5,000 | 5,000 |
| Hopefield Animal Sanctuary | 5,000 | - |
| Hugs Foundation | 5,000 | - |
| ISOF | 5,000 | 5,000 |
| Island Farm Donkey Sanctuary | 500 | 1,000 |
| Langford Trust | - | 5,000 |
| Lincolnshire Wildlife Park | 5,000 | 5,000 |
| Mare and Foal Sanctuary | - | 5,000 |
| Maria's Animal Shelter | 5,000 | - |
| Margaret Green Animal Rescue | 2,500 | - |
| Nowzad Dogs | - | 5,000 |
| Nibbles Rodent and Rabbit Rescue | - | 5,000 |
| Oak Tree Animal Charity | - | 5,000 |
| People 4 Ponies | - | 5,000 |
| Penrith and District Red Squirrel Group | 5,000 | - |
| Pan African Sanctuary Alliance | 10,000 | 5,000 |
| Rain Rescue | 5,000 | - |
| Royal Veterinary College | 60,000 | 60,000 |
| Rescue is Life | 5,000 | - |
| Raptor Foundation | 5,000 | 5,000 |
| Rhino Tears Jewellery | - | 2,500 |
| Rushton Dog Rescue | - | 2,500 |
| Saints Sledge Dog Rescue | 5,000 | - |
| Safe Haven for Donkeys in Holly Land | 5,000 | 5,000 |
| Save Me Trust | - | 5,000 |
| South Thailand Elephant Foundation | - | 3,500 |
| Stokenchurch Dog Sanctuary | 5,000 | 5,000 |
| Tiggywinkles | 2,000 | 4,000 |
| Teckels Animal Sanctuaries | 5,000 | - |
| The Wildlife Ark Trust | - | 5,000 |
| Thornberry Animal Sanctuary | - | 5,000 |
| Warwickshire Hedgehog Rescue | - | 5,000 |
| Wisteria Cat Rescue | 5,000 | - |
| Welcat | 2,500 | 1,000 |
| West Mercia Animal Refuge | - | 5,000 |
| Wildlife Aid | - | 5,000 |
continued...
12
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. GRANTS PAYABLE - continued
| Wildwood Trust Waggy Tail Rescue Wythall Animal Sanctuary World Horse Welfare 4. SUPPORT COSTS Governance costs Support costs, included in the above, are as follows: Governance costs Trustees' fees Trustees' expenses Auditors' remuneration Auditors' remuneration for non audit work Other administrative costs Investment management costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration Auditors' remuneration for non audit work |
10,000 |
|---|---|
| - | |
| - | |
| 5,000 | |
| 240,000 | |
6. TRUSTEES' REMUNERATION AND BENEFITS
RPJ Price was paid fee £ 5,094 (2021: £4,832). No remuneration or other benefits were paid to the other trustees in the year.
Trustees' expenses
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trustees' expenses | 1,220 | 1,250 |
Trustees' expenses of £1,220 (2021: £1,250) were paid during the year in respect of travelling and office expenses.
continued...
13
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
7. STAFF COSTS
The charity does not have any employees.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities Donations Governance costs Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD FIXED ASSET INVESTMENTS MARKET VALUE At 1 September 2021 Disposals Revaluations At 31 August 2022 NET BOOK VALUE At 31 August 2022 At 31 August 2021 |
Unrestricted funds £ 189,403 |
|
| 253,500 38,202 |
||
| 291,702 | ||
| 676,490 | ||
| 574,191 5,031,355 |
||
| 5,605,546 | ||
| Listed investments £ 5,494,841 (59,295) (269,913) 5,165,633 5,165,633 5,494,841 |
||
9. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
Cash deposits of £49,919 (2021: £72,095) were held as part of the investment portfolio which is included within cash at bank and in hand.
The portfolio comprised of a number of unit trust holdings:
Material holdings over 5% of the portfolio value
| 2022 | 2021 | |
|---|---|---|
| Blackrock Charities UK Bond Funds | 5% | 5% |
| Blackrock Charities UK Equity Fund | 37% | 37% |
| Blackrock Global Income Fund | 9% | 9% |
| Caznove Charity Multi-Asset Fund | 49% | 49% |
continued...
14
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. FIXED ASSET INVESTMENTS - continued
The cost of fixed asset investments held at 31 August 2022 is £4,477,619 (2021:£4,528,885).
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 12. MOVEMENT IN FUNDS At 1.9.21 £ Unrestricted funds General fund 5,605,546 TOTAL FUNDS 5,605,546 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 193,314 (281,017) TOTAL FUNDS 193,314 (281,017) Comparatives for movement in funds At 1.9.20 £ Unrestricted funds General fund 5,031,355 TOTAL FUNDS 5,031,355 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 189,403 (291,702) TOTAL FUNDS 189,403 (291,702) |
2022 £ 1,310 2022 £ 15,422 Net movement in funds £ (341,931) (341,931) Gains and losses £ (254,228) (254,228) Net movement in funds £ 574,191 574,191 Gains and losses £ 676,490 676,490 |
2021 £ 815 2021 £ 16,503 At 31.8.22 £ 5,263,615 5,263,615 Movement in funds £ (341,931) (341,931) At 31.8.21 £ 5,605,546 5,605,546 Movement in funds £ 574,191 574,191 |
|
|---|---|---|---|
continued...
15
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
12. MOVEMENT IN FUNDS - continued
The financial strategy of the charity has always been to transfer net income after donations, and administrative costs and net surplus on the sale of investments to a capital fund. This fund is not a permanent endowment as the trustees have the power to convert capital from this fund into income.
13. RELATED PARTY DISCLOSURES
All the directors of the company are also directors of Robert Luff Foundation Limited.
14. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
16
Beryl Evetts And Robert Luff Animal Welfare Trust Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| Detailed Statement of Financial Activities for the Year Ended 31 August 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Investment income and interest | 187,886 | 184,711 |
| Investment management fee rebates | 4,900 | 4,574 |
| Deposit account interest | 528 | 118 |
| 193,314 | 189,403 | |
| Total incoming resources | 193,314 | 189,403 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations | 240,000 | 253,500 |
| Support costs | ||
| Governance costs | ||
| Trustees' fees | 5,094 | 4,832 |
| Trustees' expenses | 1,220 | 1,250 |
| Auditors' remuneration | 3,540 | 3,200 |
| Auditors' remuneration for non audit work | 3,180 | 2,696 |
| Other administrative costs | 109 | 130 |
| Investment management costs | 27,874 | 26,094 |
| 41,017 | 38,202 | |
| Total resources expended | 281,017 | 291,702 |
| Net expenditure before gains and losses | (87,703) | (102,299) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset | ||
| investments | (3,790) | 14,020 |
| Net expenditure | (91,493) | (88,279) |
This page does not form part of the statutory financial statements
17