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2023-01-31-accounts

Charity Registration No. 286447

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

LEGAL AND ADMINISTRATIVE INFORMATION

______________

Charity number 286447
Principal address Aston Road
Haddenham
Buckinghamshire
HP17 8AF
Telephone 01844 292292
Patron H.R.H. Princess Alexandra
President The Countess of Buckinghamshire
Chief Executive and Director of Colin Stocker
Clinical Services
Senior Management Team Susan Stocker
Tim Moran
Melanie Kingham
Trustees Michael Groth - Chairman
Joan E Davis
Louise M Secker
Glenn Gavin
Michael J Brown
Roger A Laishley
Auditors Citroen Wells
Devonshire House
1 Devonshire Street
London
W1W 5DR
Bankers Barclays Bank Plc
34 Market Square
Aylesbury
Buckinghamshire
HP20 1TT
Solicitors BDB Pitman LLP
One Bartholomew Cl
London
EC1A 7BL
Investment Advisors Close Brothers Asset Management
10 Crown Place
London
EC2A 4FT

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

CONTENTS

______________

Page
Chief Executive’s report 1
Trustees’ report 2 - 5
Statement of Trustees’ responsibilities 6
Independent Auditors’ report
7 - 9
Consolidated Statement of Financial Activities 10
Consolidated Balance Sheet 11
Balance Sheet of Trust 12
Consolidated statement of cash flows 13
Notes to the financial statements
 14 – 28

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

CHIEF EXECUTIVE’S REPORT FOR THE YEAR ENDED 31 JANUARY 2023

I am pleased to report that the Trust continues to perform well, thanks to careful management and dedicated teams of staff, students and volunteers. These accounts demonstrate much investment within.

Staff numbers have been maintained and, in some areas, increased, as our services continue to expand. Even with the ever-rising living wage changes and globally spiralling wage demands, we have been able to keep hold of our key staff members. We have a number of staff that have been with us for more than 25 years and their experience is unrivalled. Our gifted new Head of HR has been guiding us to success with our existing team and new additions to the hospital.

Building teams have commenced three enormous projects, after these were delayed by Covid lockdowns and material shortages. Winter 2022 began with the wards on the ground floor being emptied and hundreds of patients being moved to other areas of the hospital (including classrooms, temporary structures and even the library!) to enable foundations to be put in for the first storey extension. Whilst this was undertaken, we also took steps to future proof the wards with efficient heating solutions and many other updates since their original installation in 1990. The ground floor works are now almost complete. The wards returned to normal in Spring 2023, as work moved to the upper floor. This has been a monumental task but has caused little disruption to the students and to the day-to- day running of the hospital.

Also, during 2022, new bespoke fox and badger enclosures were built. The existing enclosures had served us well for many years, but land slip, concrete erosion and wear and tear finally took its toll. The new enclosures are very good indeed and will last for many years.

Government Bird flu restrictions are still in place, with no end in sight. These restrictions do affect us significantly and are adhered to very strictly throughout the whole of our grounds. As a World leading hospital, we have all barrier nursing systems in place already, yet additional practices have had to be created and adopted to avoid contamination.

Financially we are buoyant. Our policies of saving hard throughout the decades, never borrowing, and investing carefully when we are able, has been mine and my co-founders’ script – from which we have never deviated. Our choice to spread risk carefully has protected us as much as possible from stock market crashes and the like. Whilst we rely mainly on legacies and donations from caring individuals, we are working to develop other revenue streams in the immediate future. Vet surgeons and nurses will be able to undertake their C.P.D at the new college. Conferences and training days will also add funding to the charity. The Visitor Centre, when good weather allows, is expanding and improving year on year. We hope that through continued investment, it will not only generate funds – but most importantly continue to offer thousands of school children and visitors alike, cutting edge information on wildlife, rehabilitation and conservation. School visits are very well subscribed!

Finally, the hospital has taken the step of becoming a C.I.O, an incorporated charity, and has become The Wildlife Hospital Foundation. This has enabled the Charity to be governed on more current and modern guidelines.

Colin Stocker

Chief Executive and Director of Clinical Services

1

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2023

The Trustees present their report with the financial statements of the Group for the year ended 31 January 2023.

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 Trust Deed, 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) (effective from 1 January 2019).

Objectives and activities

The Trust’s objects are the rescue, medical treatment, rehabilitation and, wherever possible, the release of sick and injured wild birds and other animals in need of care and attention and the education of the public in methods of treatment, nursing and conservation. The policies adopted in furtherance of these objects are to seek additional finance and support, to continue to run the hospital and provide for the aims as stated and there has been no change in these during the year.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. Parts of the Trust's premises are open to the public and volunteering opportunities are open to all.

The Trust's work has broadened in recent years to encompass the following:

Communicating with a wider worldwide audience through television, national newspapers and the internet.

Educating the general public (but especially the younger generation) and the veterinary world by utilising the Miriam Burnett Education Centre of Excellence.

Provision of information and resources to other wildlife centres and charities.

The Trustees consider that the performance of the Trust and its trading subsidiary have been satisfactory for the year given the poor ongoing economic conditions.

On 31 January 2023, the Trust transferred all its activities and net assets to The Wildlife Hospital Foundation (Charity number: 1200460). The Foundation is a Charitable Incorporated Organisation (CIO) that was registered on 22 September 2022 to succeed the entire activities of the Trust.

Achievements and performance

Details of income and expenditure for the year are shown on page 10.

Total incoming resources amounted to £3,032,881 (2022: £3,279,714), a decrease of £246,833 when compared with the previous year.

The Trust is almost entirely reliant on the goodwill and generosity of members of the public and so the income of the Trust from year to year is uncertain. With no government funding at all and virtually no corporate support, the running costs of the Trust are met overwhelmingly through donations by the public. Most of the Trust's income is from membership subscriptions, bequests and legacies - with bequests and legacies making up the largest proportion. Bequests have remained at a fairly high level over recent years.

The Trust also relies heavily on the vital work carried out by the unpaid volunteers whose dedication to the aims of the Trust is so much appreciated.

Total expenditure in the year amounted to £18,877,812 (2022: £1,874,991), an increase of £17,002,821 when compared with the previous year. Expenditure this year includes the deemed donation of £16,834,035 from the Trust to The Wildlife Foundation that comprised the value of the entire net assets to the Trust as at 31 January 2023. Direct charitable expenditure on animal welfare increased to £1,428,264 from £1,309,873 when compared with the previous year.

2

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Achievements and performance (continued)

Before the transfer to The Wildlife Hospital Foundation, total assets less liabilities amounted to £16,834,035 (2022: £15,917,997 as restated), which was represented by the accumulated balances on the unrestricted income funds (including the reserves of the subsidiary) and the restricted funds.

2022 has been a busy year at Tiggywinkles. We are very grateful for the extremely hard work put in by everyone at the hospital. We are proud to be Trustees of the World’s leading wildlife hospital – and are excited with the ongoing plans to disseminate the life-saving treatments and techniques undertaken there.

The achievement of treating and saving more patients than ever before is astounding. We are very pleased to be continuing to invest effort and finance into finding breakthrough techniques for our patients. The veterinary team have been using state of that art medicines and equipment, enabling our patients to have the very best chance of rehabilitation back to the wild. This, along with education and teaching of others, is our prime directive – and will always be.

It was excellent to learn that the red kite flights (huge aviaries) have been re-meshed, and that works are underway to replace flights (huge aviaries) that have succumbed to the elements after 15 years or more.

Much effort has been put in to enable enlargement of our deer paddocks. A service road has been put in, and a very large mound has been removed and flattened. We have dozens of deer, some of which we are no longer able to release, due to the invasive species law brought in several years ago. We are attempting to purchase local land to further expand our deer paddocks, whilst encouraging the Government to look further at our proposals for sterilization and release of deer.

We were also delighted to learn of the Land’s End to John O’ Groats cycle challenge, undertaken by 9-year-old Harry Peska (accompanied by his Dad, Nick). He wonderfully raised over £13,000 to help our patients, and we were proud to have a plaque in place in the main hedgehog ward, whilst he visited.

Reserves policy

As at 31 January 2023, the Trust had no reserves policy because all its net assets were transferred to The Wildlife Hospital Foundation on this date.

Fund raising standards information

The Trust does not actively fundraise and does not hold any agreements with professional fundraisers or commercial participators. The costs of generating funds in the consolidated Statement of Financial Activities comprise solely of in-house costs incurred.

Investment policy and performance

The Trust Deed authorised the Trustees to make and hold investments using the funds of the Trust. Details of the investments held are given in Notes 19 and 20 on page 24 and 25. The Trustees also had the power to hold funds on deposit with bankers as necessary. There were no restrictions on the Trust's power to invest.

Before the transfer to The Wildlife Hospital Foundation, the fixed asset investments were revalued downwards by £129,920 to reflect their open market value at 31 January 2023 and the aggregated unrealised gains when compared to the original cost of these investments was £1,521,933, an increase of approximately 28%.

The investments are held in pooled investment accounts. The Trustees’ objectives were to seek long-term capital growth from capital not presently required to meet commitments nor earmarked for future projects, acting prudently and after taking professional advice whilst also achieving maximum income on cash funds.

When the Trust received legacies or gifts of shares or other investments, these were generally sold as soon as practical (unless they were investments, which the Trust already holds). This is in accordance with the Trustees’ ethical investment statement to never knowingly seek to invest in shares, bonds, or other investments of companies or organisations whose operations in part or whole might contradict the objectives of the Trust.

3

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Investment policy and performance (continued)

Before the transfer to The Wildlife Hospital Foundation, the Trust also continued to hold residential investment properties that were rented on the open market as detailed in Note 19 on page 24. The investment properties were revalued upwards by £278,534 from their original acquisition value to reflect their estimated open market value at 31 January 2023.

Risk management

The Trustees have assessed the major risks to which the Trust is exposed and produced risk assessments following good practice guidelines. The Trustees regularly review these risk assessments through the Trustees’ meetings. To mitigate risks, staff and volunteers are trained to the required level of competence. The Trustees are satisfied that systems are in place to mitigate their exposure to the major risks.

Plans for the future

The Trust ceased its activities on 31 January 2023 but it will remain a registered charity to enable all the necessary formalities of the transfer of its activities and net assets to The Wildlife Hospital Foundation to be finalised. Thereafter, it is the intention of the Trustees to dissolve the Trust.

Structure, governance and management

The Trust was established by a charitable trust deed on 1 February 1983 and registered with the Charity Commission on 5 April 1983.

The Trustees who served during the year were as follows:

Joan E Davis Michael Groth Louise M Secker Glenn Gavin Michael J Brown Roger A Laishley

The Trust is managed by the Board of Trustees who meet regularly to review the activities and performance of the Trust together with their advisors as necessary. Appointment of Trustees is governed by the Trust Deed. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee. There must be at least six serving Trustees but not more than ten.

The Trustees are generally appointed according to their various skills and knowledge of the aims and aspirations of the Trust. In terms of induction, all new Trustees are provided with a Trustee's induction pack that includes a copy of the Trust deed and the Governance Code for the Third Sector and they are advised of available training. New Trustees are also supported and mentored by the existing Trustees. The Trustees are also familiar with the practical work of the Trust, having access to trust literature and detailed discussions at meetings of the work undertaken and aspirations of the work the Trust expects to carry out.

The day-to-day management of the Trust and the administration of the Wildlife Hospital is under the direct control of Colin Stocker, who works closely with the Board of Trustees in the management and administration of the Wildlife Hospital.

Wildlife Hospital Trading Limited, a company beneficially owned by the Trust, achieved satisfactory results in the year. The Company continues to provide the service for which it was created; that is the promotion of the activities of the Trust, principally through the sale of promotional goods and charging entrance fees for visits to the Hospital Visitors' Centre.

4

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Disclosure of information to auditors

So far as the Trustees are aware, there is no relevant audit information of which the Group’s auditors are unaware. Additionally, the Trustees have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of all relevant audit information and to establish that the Group’s auditors are aware of that information.

The Trustees’ report was approved by the Board of Trustees and signed on their behalf on

Michael Groth Trustee

5

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2023

____________

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 and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE WILDLIFE HOSPITAL TRUST

_________________

Opinion

We have audited the financial statements of The Wildlife Hospital Trust (the ‘Trust’) and its subsidiary (the ‘Group’) for the year ended 31 January 2023 which comprise a consolidated statement of financial activities, consolidated and Trust balance sheet, consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis of 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 Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the Group and Trust in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard 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 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 Group’s or Trust’s ability to continue as 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information within the annual report. Our opinion on the financial statements does not cover the other information and, except otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

7

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

INDEPENDENT AUDITORS’ REPORT (CONTINUED) TO THE TRUSTEES OF THE WILDLIFE HOSPITAL TRUST

_________________

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 6, the Trustees 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 Group’s and the parent Trust’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 or cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditors under section 151 of the Charities Act 2011 and report in accordance with the regulations made under section 154 of that Act.

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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

8

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

INDEPENDENT AUDITORS’ REPORT (CONTINUED) TO THE TRUSTEES OF THE WILDLIFE HOSPITAL TRUST

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the Trust’s Trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Trust's Trustees 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 Trust and the Trust’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Citroen Wells 2023
Chartered Accountants
Statutory Auditor
Devonshire House
1 Devonshire Street
London
W1W 5DR

Citroen Wells is eligible for appointment as auditor of the Trust by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

9

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

_____________

Notes Unrestricted Restricted Total Total
funds funds 2023 2022
as restated
£ £ £ £
Incoming resources:
Donations and legacies 3 2,389,119 40,000 2,429,119 2,745,541
Investments 4 274,753 - 274,753 271,266
Trading activities 5 163,397 - 163,397 98,919
Other income 6 165,612 - 165,612 163,988
___ _ ___ ___
2,992,881 40,000 3,032,881 3,279,714
___ _ ___ ___
Resources expended:
Costs of generating funds 7 (200,628) - (200,628) (202,252)
Charitable activities 8 (18,337,184) (340,000) (18,667,184) (1,672,739)
___ _ ___ ___
(18,537,811) (340,000) (18,877,812) (1,874,991)
___ _ ___ ___
Net gains/(losses) on investments 12 (68,137) - (68,137) 792,652
Taxation 17 (4,929) - (4,929) (1,441)
___ _ ___ ___
Net (outgoing)/incoming resources for
the year (15,617,997) (300,000) (15,917,997) 2,195,934
Fund balances at 1 February 2022 15,617,997 300,000 15,917,997 13,722,063
___ _ ___ ___
Fund balances at 31 January 2023 - - - 15,917,997
__ _ __ __

10

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

CONSOLIDATED BALANCE SHEET AS AT 31 JANUARY 2023

_____________

Notes
2023
£
£
Fixed assets
Tangible assets
18
Investment properties
19
Investments
20

Current assets
Stocks
-
Debtors
-
Cash at bank and in hand
-
___
-
Creditors: amounts falling due
within one year
22
-
__
Net current assets
Income funds
Restricted funds
23
Unrestricted funds		 2022
as restated
£
-
-
-
_
-
12,951
11,707
6,219,199
_
6,243,857
(76,402)
_
-
___
-
__
-
-
_
-
___
£
727,850
1,996,387
7,026,305
_
9,750,542
6,167,455
_
15,917,997
_
300,000
15,617,997
___
15,917,997
_

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

Louise M Secker Michael Groth Trustee Trustee

11

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

BALANCE SHEET OF TRUST AS AT 31 JANUARY 2023

_____________

Notes
2023
£
£
Fixed assets
Tangible assets
18
Investment properties
19
Investments
20

Current assets
Stocks
-
Debtors
-
Cash at bank and in hand
-
___
-
Creditors: amounts falling due
within one year
22
-
__
Net current assets
Income funds
Restricted funds
23
Unrestricted funds		 2022
as restated
£
-
-
-
_
-
3,963
96,755
6,164,412
_
6,265,130
(69,230)
_
-
___
-
__
-
-
_
-
___
£
667,227
1,996,387
7,066,305
_
9,729,919
6,195,900
_
15,925,819
_
300,000
15,625,819
___
15,925,819
_

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

Louise M Secker Michael Groth Trustee Trustee

12

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2023

_____________

Notes 2023 2022
as restated
£
£		 £
£
Cash flows from operating activities
Net cash (absorbed)/generated from
operating activities 28 (6,171,074) 1,213,603
Income taxes paid (330) -
___ ___
Net cash (outflow)/inflow from
operating activities (6,171,404) 1,213,603
Investing activities
Purchase of tangible fixed assets (163,693) (125,162)
Purchase of investments (705,606) (724,613)
Proceeds on disposal of investments 546,751 565,051
Interest and dividends received 274,753 271,266
_ _
Net cash generated from/(used in)
investing activities (47,795) (13,458)
___ ___
Net (decrease)/increase in cash and
cash equivalents (6,219,199) 1,200,145
Cash and cash equivalents brought forward 6,219,199 5,019,054
____ ___
Cash and cash equivalents carried forward - 6,219,199

Analysis of changes in net debt

The Trust does not have any debt, as such the net debt position is equivalent to the cash at bank and in hand. Changes in the net debt position are equivalent to the movement as shown on the statement of cash flows above.

13

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

_____________

1 Accounting Policies

1.1

Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts and have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charities Act 2011.

These financial statements consolidate the results of the Trust and its wholly owned subsidiary undertaking on a line by line basis. Intra-group income and profits are eliminated fully on consolidation. A separate statement of financial activities for the Trust as an individual undertaking is presented in note 2.

The Trust constitutes a public benefit entity as defined by FRS 102.

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 presented in sterling which is the functional currency of the Group and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Key judgements and sources of estimation uncertainty

The preparation of financial statements requires management to make estimates, judgements and assumptions that affect reported income, expenses, assets and liabilities. However, the nature of estimation means that actual outcomes could differ from those estimates. The valuation of the investment properties, at fair value, has been valued on an open value basis at the year-end date by the Trustees. There is a degree of estimation involved in that each property is unique and the value can only ultimately be reliably tested in the market itself.

1.3 Income recognition

All income is recognised once the Group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and legacy income are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the Trust is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Trust and it is probable that those conditions will be fulfilled in the reporting period.

Equipment and supplies donated to the Trust are included in the financial statements on a receipts basis at the Trustees’ valuation.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

14

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1. Accounting Policies (continued)

1.4 Income recognition (continued)

Income from the trading subsidiary represents amounts receivable for entrance fees, goods and services stated net of VAT and trade discounts.

Donated assets are recognised when control over the expected economic benefits that flow from the donation has passed to the Trust and are included in the financial statements at fair value on the date of acquisition, as determined by the Trustees.

1.5 Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Group to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Governance costs comprise all costs involving the public accountability of the Group and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

There are no support costs to be apportioned and allocated between the activities of the Trust because all relevant costs can be attributed directly to animal welfare activities.

The costs of generating funds comprise the costs of generating voluntary income as well as the cost of sales for the trading subsidiary of the Trust.

Costs of charitable activities include animal welfare costs, governance costs and depreciation.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold property 25 years on cost Leasehold improvements 20 years on cost Hedgehog enclosure 10 years on cost Medical and office equipment 4 years on cost Motor vehicles 4 years on cost

1.7

Investment properties

Investment properties which are properties held to earn rentals and/or capital appreciation, are measured using the fair value model and stated at their estimated fair values as at the reporting end date as determined by the Trustees. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

1.8 Fixed asset investments

Investments are a form of basic financial instrument. Quoted investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Group does not acquire put options, derivatives or other complex financial instruments. The investment in the subsidiary is stated at cost in the Trust’s own accounts.

15

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1. Accounting Policies (continued)

1.9 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

1.10 Inventories

Stocks comprise animal feed and goods held for resale.

Stocks are stated at the lower of cost and net realisable value or Trustees’ valuation. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

1.11 Pensions

Employees of the Group are entitled to join defined contribution schemes. The assets of these schemes are held separately from those of the Group in independently administered funds.

1.12 Foreign currency translation

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net income/expenditures.

1.13 Funds

The unrestricted fund consists of funds to be used for the purposes of the Trust's objectives at the discretion of the Trustees and for meeting ongoing governance costs. Restricted funds can only be used for particular restricted purposes within the objectives of the Trust. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.14

Taxation

The Trust is exempt from tax on its charitable activities.

Tax recovered from voluntary income received under gift aid is recognised when the related income is receivable and is allocated to the income category to which the income relates.

Current tax

The tax expense represents the sum of the tax currently payable in respect of the profits of the year of the subsidiary, Wildlife Hospital Trading Limited. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

16

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1. Accounting Policies (continued)

1.15 Government grants

The Coronavirus Job Retention Scheme (CJRS) results in cash payments from the government to compensate employers for part of the wages, associated national insurance contributions (NICs) and employer pension contributions of employees who have been placed on furlough (i.e. placed on a temporary leave of absence from working for the employer).

The CJRS grant is recognised under the accrual or the performance model and is recognised as income on a systematic basis over the periods in which the Group recognises the related costs for which the grant is intended to compensate. As such the income from the grant is recognised on a straight line basis over the furlough period for each relevant employee.

2. Financial activities of the Trust

The financial activities shown in the consolidated statement of financial activities include those of the Trust’s wholly owned subsidiary.

A summary of the financial activities undertaken by the Trust, as an individual undertaking, is as set out below:-

2023
£
Incoming resources from generated funds
2,887,996
Cost of raising funds
(149,899)
Charitable activities
(18,595,779)
_
Total
(15,857,682)
Net gains/(losses) on investments
(68,137)
_
Net income
(15,925,819)
Total funds brought forward
15,925,819
_
Total funds carried forward
-
_
Represented by:
Unrestricted funds
-
Restricted funds
-
___
-
 2022
As restated
£
3,174,060
(183,028)
(1,591,795)
_
1,399,237
792,652
_
2,191,889
13,733,930
_
15,925,819
_
15,625,819
300,000
___
15,925,819

17

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

3.
Income from donations and legacies
General donations and gifts
Memberships
Legacies

Income from general donations and gifts included £40,000 (2022 -
4.
Income from investments
Income from listed investments
Income from investment properties
Interest receivable
5.
Income from other trading activities
Commercial income in trading subsidiary
6.
Other income
Training income
Government grants
Other income		 2023
2022
£
£
446,260
920,517
96,910
107,145
1,885,949
1,717,879
_
_
2,429,119
2,745,541
_
_
£1,000) of restricted funds.
2023
2022
£
£
202,563
213,162
61,686
56,853
10,504
1,251
_
_
274,753
271,266
_
_
2023
2022
£
£
163,397
98,919
_
_
2023
2022
£
£
162,462
143,376
-
14,512
3,150
6,100
_
_
165,612
163,988
_
_

18

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

7. Costs of generating funds

Costs of generating voluntary income (note 9)
Commercial trading operations costs of sale
Expenditure on Charitable Activities
Animal welfare (note 10)
Depreciation
Governance costs (note 11)
Donation to The Wildlife Hospital Foundation
 Staff
Other
costs
costs
£
£

106,191
62,998
-
31,439
_
_
106,191
94,437
_
_
Staff
Other
costs
costs
£
£
935,436
494,892
-
73,378
168,419
171,024
-
16,834,035
_
_
1,103,855
17,573,329

 Total
2023
£
169,189
31,439
_
200,628
_
Total
2023
£
1,430,328
73,378
339,443
16,834,035
__
18,677,184
 Total
2022
£
183,028
19,224
_
202,252
_
Total
2022
£
1,309,873
57,577
305,289
-
__
1,672,739

8. Expenditure on Charitable Activities

There are no support costs as all costs are allocated directly to animal welfare activities or are included in governance costs.

£340,000 (2022 - £1,868) of the above costs are attributable to restricted funds.

9. Costs of generating voluntary income – Other costs

Telephone
Printing, postage and stationery
Advertising
Subscriptions and fees
Hospitality		 2023
£
302
24,668
17,901
13,055
7,072
_
62,998
_		 2022
£
1,271
25,664
18,667
14,935
2,793
_
63,330
_

19

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

10. Animal Welfare – Other costs

Feeding and cleaning
Light and heat
Maintenance of premises
Sundry equipment and repairs
Medical accessories
Medicines
Rescue expenses
Veterinary fees
Telephone
Motor and travelling
Sundry expenses
Staff training
Council tax
Insurance
Network computer maintenance
11.
Governance costs – Other costs
Bank charges and interest
Legal and professional fees
Sundry expenses
Auditor’s remuneration
Investment management fees
Foreign tax deducted
Printing, postage & stationery		 _
 2023
£
61,930
49,925
196,426
38,761
34,393
38,555
60
5,951
7,251
12,621
9,075
8,316
2,867
12,619
16,142
_
494,892
_
2023
£
393
56,933
19,735
49,928
41,862
1,846
327
_
171,024
 2022
£
63,769
37,062
172,335
33,075
23,105
37,763
1,151
6,659
12,643
5,394
9,226
18,715
3,441
10,838
11,936
_
447,112
_
2022
£
3,014
26,331
15,791
44,563
43,211
10,389
473
__
143,772

The auditor’s total remuneration includes £33,144 (2022: £24,979) for non-audit services and £8,535 (2022: £6,844) of irrecoverable VAT.

20

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

12. Net gains/(losses) on investments

Net unrealised gains on investment properties
Net unrealised gains/(losses) on revaluation of investments
Net realised gains/(losses) on disposal of investments		 2023
£
103,613
(129,920)
(41,830)
_
(68,137)
_		 2022
£
174,921
620,817
(3,086)
_
792,652
_

13. Trustees’ remuneration and benefits

None of the Trustees received any remuneration or benefits from the Trust during the year (2022: Nil).

14. Trustees’ expenses

There were no Trustees’ expenses paid for the year (2022: Nil).

15. Employees

Number of employees

The average monthly number of employees during the year was:

Animal welfare
Administration
Trading subsidiary
Public relations
Employee costs
Wages and salary
Social security costs
Pension costs		 2023
Number
30
14
9
2
_
55
_
2023
£
1,073,137
93,021
52,872
__
1,219,030
 2022
Number
29
15
7
2
_
53
_
2022
£
1,009,000
83,391
51,135
__
1,143,526

21

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

15. Employees (Continued)

Higher paid staff

The number of employees whose remuneration was £60,000 or more were:

£60,001 - £70,000
£80,001 - £90,000
£90,001 - £100,000
 2023
Number
1
-
2
__		 2022
Number
-
2
-
__

Pension contributions for higher paid staff during the year were £9,313 (2022: £5,804). The number of higher paid employees for whom retirement benefits are accruing under money purchase pension schemes amounts to 2 (2022: 2).

16. Key management personnel

The key management personnel of the Trust comprise of the Chief Executive and senior management team as listed under the legal and administration information. The total amount of the employee benefits (including employer pension contributions) received by the key management personnel for their services to the Trust was £336,048 (2022: £287,063).

17. Taxation

Current tax
UK corporation tax payable relating to
the trading subsidiary		 2023
£
4,929
__		 2022
£
1,441
__

22

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

18. Tangible fixed assets

Group
Cost
At 1 February 2022
Additions
Transfer to the
Foundation
At 31 January 2023
Depreciation
At 1 February 2022
Charge for the year
Transfer to the
Foundation
At 31 January 2023
Net book value
At 31 January 2023
At 31 January 2022
Trust
Cost
At 1 February 2022
Additions
Transfer to the
Foundation
At 31 January 2023
Depreciation
At 1 February 2022
Charge for the year
Transfer to the
Foundation
At 31 January 2023		 Long
leasehold
property
Leasehold
improvements
Restricted
fund
assets
(note 23)
Medical
and office
equipment
Motor
vehicles
Total


£
£
£
£
£
£
1,880,360
84,780
74,644
337,704
83,940
2,461,428
107,873
(1,988,233)
-
(84,780)
40,000
(114,644)
15,820
(353,524)
-
(83,940)
163,693
(2,625,121)
-
-
-
-
-
-
1,277,003
27,823
74,644
317,042
37,066
1,733,578
42,500
(1,319,503)
2,848
(30,671)
2,500
(77,144)
12,295
(329,337)
13,235
(50,301)
73,378
(1,806,956)
-
-
-
-
-
-
-
-
-
-
-
-
603,357
56,957
-
20,662
46,874
727,850
Long
leasehold
property
Leasehold
improvements
Restricted
fund
assets
(note 23)
Medical
and office
equipment
Motor
vehicles
Total
£
£
£
£
£
£
1,880,360
-
74,644
271,415
83,940
2,310,359
107,873
(1,998,233)
-
-
40,000
(114,644)
15,820
(287,235)
-
(83,940)
163,693
(2,474,052)
-
-
-
-
-
-
1,277,003
-
74,644
254,419
37,066
1,643,132
42,500
(1,319,503)
-
-
2,500
(77,144)
11,379
(265,798)
13,235
(50,301)
69,614
(1,712,746)
-
-
-
-
-
-
Net Book Value
At 31 January 2023		 -
-
-
-
-
-
At 31 January 2022 603,357
-
-
16,996
46,874
667,227

23

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

19. Investment properties

Group and Trust

Fair value
At 1 February 2022
Revaluation in year
Transfer to The Wildlife Hospital Foundation		 2023
£
1,996,387
103,613
(2,100,000)
___
-
__

Investment properties are included in the accounts at the Trustees’ estimate of the market values at the balance sheet date. Investment properties included £300,000 (2022 - £300,000) of restricted funds (see note 23).

20. Fixed asset investments

Group
Listed
Investments
£
Market value at 1 February 2022
6,862,347
Additions in the year
705,606
Disposals in the year
(503,615)
Revaluation in the year
(129,920)
Transfer to The Wildlife Hospital Foundation
(6,934,418)
_
Market value at 31 January 2023
-
_
Historical cost:
At 31 January 2023
-
__
At 31 January 2022
5,121,859
 Cash in
Total
portfolio
£
£
163,958
7,026,305
-
705,606
(84,966)
(588,581)
-
(129,920)
(78,992)
(7,013,410)
_
_
-
-
_
_
-
-
__
______
163,958
5,285,817

24

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

20. Fixed asset investments (continued)

Trust

Listed Cash in Investment Total
Investments portfolio in subsidiary
£ £ £ £
Market value at 1 February 2022 6,862,347 163,958 40,000 7,066,305
Additions in the year 705,606 - - 705,606
Disposals in the year (503,615) (84,966) - (588,581)
Revaluations in the year (129,920) - - (129,920)
Transfer to The Wildlife Hospital
Foundation (6,934,418) (78,992) (40,000) (7,053,410)
__ ______ __ __
Market value at 31 January 2023 - - - -
__ ______ __ __
Historical cost:
At 31 January 2023 - - - -
__ ______ __ __
At 31 January 2022 5,121,859 163,958 40,000 5,325,817
__ ______ __ __

Investment in subsidiary

The Trust beneficially owns 100% of the allotted share capital of Wildlife Hospital Trading Limited (‘WHTL’), a company registered in England. WHTL’s company number is 02673000. WHTL has principally been engaged in the sale of promotional goods and the running of the visitor centre for the benefit of the Trust.

The aggregate amount of capital and reserves and the results of WHTL for the year ended 31 January 2023 were as follows:

2023 were as follows:
Capital
Turnover		 Expenditure Profit
and
for the		 for the for the
reserves
year		 year year
£
£		 £ £
50,001
163,397		 (140,645) 22,752
_
_		 _ _
21. Debtors Group Trust
2023
2022		 2023 2022
£
£		 £ £
Amount owed by group undertaking -
-		 - 85,048
Other debtors -
11,707		 - 11,707
_
______		 _ _
-
11,707		 - 96,755
_
______		 _ _

Amounts owed by group undertakings includes £Nil (2022 - £40,000) falling due after one year.

25

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

22. Creditors: amounts falling due within one year

Taxation and social security costs
Other creditors
Accruals and deferred income		 Group
2023
2022
£
£
-
20,460
-
5,187
-
50,755
__
______
-
76,402
 Trust
2023
2022
£
£
-
19,162
-
3,288
-
46,780
_
_
-
69,230

23. Restricted funds

The income funds of the Trust include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at Incoming Outgoing Balance at
1 February Resources Resources 31 January
2022 (inc. depreciation) 2023
£ £ £ £
Bequest of property 300,000 - (300,000) -
Idris & Margaret Jones
Charitable Trust - 40,000 (40,000) -
_ _ _ _
300,000 40,000 (340,000) -
__ __ __ __

During the year ended 31 January 2021, the Trust received a donation of a residential property, valued at £300,000, with an existing tenant that occupies the property on a rent-free basis during her lifetime. The property becomes unrestricted on the earlier of the tenant vacating the property or on her death.

During the year ended 31 January 2023, the Trust received a donation of £40,000 from the Idris & Margaret Jones Charitable Trust towards energy saving equipment for the hospital that was capitalised under fixed assets.

26

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

24. Pension and other post-retirement benefit commitments Defined contribution

Contributions payable in the year 2023
£
52,872
 2022
£
51,135

25. Analysis of net assets between funds

On 31 January 2023, the Trust transferred all its activities and net assets, including restricted funds, to The Wildlife Hospital Foundation.

26. Related party transactions

There were no related party transactions for the year ended 31 January 2023 (2022: £Nil).

27. Prior period adjustment

The comparative financial statements, covering the year ended 31 January 2022, have been restated for the understatement of the fair value of the investment properties by £174,921. As a result, the net income for the year had been understated by £174,921 and unrestricted funds by the same amount.

A reconciliation of this reinstatement and the effect on the reserves is set out below:

As previously
reported at 31 As restated at
January 2023 31 January 2023
Adjustment
£ £ £
Changes to the statement of financial statements
Fixed assets
Investment properties 1,821,466 174,921 1,996,387
Income funds
Unrestricted funds 15,443,076 174,921 15,617,997
Net assets 15,743,076 174,921 15,917,997

27

THE WILDLIFE HOSPITAL TRUST (TIGGYWINKLES)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

_____________

28. Cash generated from operations

2023
£
(Deficit)/surplus for the year
(15,917,997)
Adjustments for:
Taxation charge/(credit)
4,929
Investment income recognised in net income
(274,753)
(Gains)/losses on investments
171,750
Other gains and losses
(103,613)
Depreciation of tangible fixed assets
73,378
Assets transferred to The Wildlife Hospital Foundation
9,931,575
Movements in working capital:
(Increase)/decrease in stock
12,951
(Increase)/decrease in debtors
11,707
Increase/(decrease) in creditors
(81,001)
_
Cash (absorbed)/generated from operations
(6,171,074)
_		 2022
£
2,195,934
1,441
(271,266)
(617,731)
(174,921)
57,577
-
4,020
3,903
14,646
_
1,213,603
_

28