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2022-03-31-accounts

Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

WOOD GREEN ANIMAL SHELTERS

TRUSTEE REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

CHARITY REGISTERED NUMBER: 298348 COMPANY REGISTERED NUMBER: 02073930

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

CONTENTS

Page
Chairman’s Statement 3
Trustee Report 5
Independent Auditors’ Report 29
Statement of Financial Activities 33
Balance Sheet 34
Cash Flow Statement 35
Notes to the Financial Statements 36

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Chairman’s Statement

Another year passes, with another set of challenges being presented. This report, like others over recent years, reflects an organisation that is working very hard to support pets and owners, and in very challenging circumstances.

The year was one of two halves. The first part was still influenced by the behaviours of people coming to terms with the pandemic with many people learning the joy of a pet for the first time. The second part was significantly influenced by people returning to work and having to come to terms with an increasingly challenging economic climate. It is this latter development that shows no sign of abating and is more likely to get much worse before it gets better.

We knew the desire to have a pet would plateau at some point, but the combination of returning to work and financial hardship has meant that the call for Woodgreen’s services is more evident than ever, so we’ve had to up our game. Everything seems increasingly desperate, both for pets and their people. It is not necessarily the volume of requests, but rather the need in each request that is becoming more profound. There was a bigger need for more complex care, and a lack of suitable homes for pets with greater requirements. And there were people at their wits’ end because they couldn’t afford to keep their companion. Indeed, there were countless occasions last year where our intervention was a life saver. Things are unlikely to get better soon, but that is why we are here: to make a difference.

During 2022 we recognised that to do more, we need to be clearer about who we are and the support we provide. We also want to reinforce our position that to support pets in a more rounded way, we need to work with and support people, both existing and potential pet owners. So, whilst the presentation of Woodgreen hasn’t changed for a long time, our services have, both in breadth and sophistication. That is why we felt that the time was absolutely right for a rebrand, to promote the dual focus on “pets and their people”, and at the same time maintain the bias towards the welfare of the pet. Despite the challenges that the year brought, we wanted to raise our profile and present ourselves in a different way to achieve more. The timing of this also coincided with another highlight of what was a hard and demanding year, which was the BAFTA nomination for Channel 4’s “The Dog House”. Centred on our Huntingdon site, the programme provides just a slice of what we do but it does not hold back on the level of care we give to dogs. Whilst we may not have won the BAFTA, I was nevertheless extremely proud of the team that supported the programme and the way it highlighted what an amazing job everyone at Woodgreen does.

Looking ahead, the external context in which we operate looks very uncertain and extremely challenging. The economic realities will also impact on pets and their people. We anticipate more demand for intake, but less opportunity to rehome. This in turn means that we will need to provide more support to keep pets in homes, at a time when we will likely have more demands on our funds than we are able to service. Despite this, we have reason to be positive about our ability to do more and have a greater impact. We recognised that 2021 was perhaps a crossroads in terms of what the future need of Woodgreen might be. We will always have pets in our care, but the past few years have shown that we can and will do more in how we engage with people, to ensure that the need for care is minimised and pets stay in homes with their owners. To that end, in 2021 we started writing our Pet Services Strategy and consulted with audiences both outside and inside the Charity. With key principles set out in the strategy, next year will look to implement it, designing and delivering more impactful services. We feel that, despite the challenges, at a time of most need, Woodgreen’s ambition and strategy means we can deliver more impact and in a more efficient way.

Last, but certainly by no means least, I have got to mention the Snowdon Cat Care Centre. With leading edge functionality for such accommodation built into the design, it sets a standard

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

that is difficult to match and is the envy of our peers. Amongst other things, its climate control system has already proven to be invaluable during the recent heatwave. The building is testimony to the level of care we want to provide and a tribute to Sheila Snowdon, whose generosity in the legacy she left made it happen.

Dr Steven Carden 17 September 2022

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

We present our Trustee Report and Accounts for the 12 months to the end of March 2022

STRATEGIC REPORT

Who we are

Wood Green Animal Shelters operates under the trading name of Woodgreen Pets Charity (Woodgreen) and has been successfully caring for pets in need since 1924. We care for any pet that needs us, whether they have been abandoned, neglected, are vulnerable or simply need a home. At the same time we guide people to find the right pet for them and encourage the best standards of pet care.

Our vision

Our vision is for every pet to have a home where they are loved, well cared for and enjoy positive relationships with their owners.

Our Objects as stated in the Articles of Association are that Woodgreen exists to provide:

Our mission

Our mission is to care for vulnerable pets. We are committed to providing our pets with outstanding care and secure and loving homes and supporting pet owners and the wider community to build rewarding relationships with pets.

We do this through digital engagement and through our operations at our rescue centre, veterinary surgery, kennels, cattery, small animal centre and fields outside Godmanchester near Huntingdon.

In addition, our Community Outreach team based at Godmanchester work extensively throughout the region with schools and community groups to spread the responsible pet ownership message.

Our strategy

In order to achieve our Mission the Trustees have agreed a strategy with the following goals:

Consideration of Directors’ responsibilities

Under Section 172 of the Companies Act 2006 the Board of Trustees, as Company Directors, have a duty to promote the long-term success of Woodgreen. They have done that during the

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

year by duly considering the impact of the decisions they make on the future of the organisation. They have listened to the views of different stakeholders who will be affected by their decisions and have weighed and considered the alternative options that were available to the organisation on each occasion. The Board believes they have acted in the best interests of the charity and in a manner which will bring about long-term success. The Directors consider the key stakeholder groups for Woodgreen to be its service users, financial supporters, employees and volunteers, its partners and its suppliers. The content within the rest of this report explains how Woodgreen engages with its stakeholders more generally.

During the year the most significant decision made by the board that will have a long-term impact on stakeholders, was to be much more explicit that the mission of Woodgreen is to support pets and their people. The rationale for this decision is explained elsewhere, but it was spearheaded by two key pieces of work. Firstly, the creation of an updated Pet Services Strategy that seeks to explain the importance of working with pet owners, or potential pet owners, as well as the pets themselves. Secondly, they refreshed the Woodgreen brand and introduced a new strapline – helping pets and their people. Both pieces of work involved consultation with relevant internal and external stakeholder groups and have been well received.

The board works very closely with the Executive team, in particular, through the subcommittees of the main board, which are covered later in this report. The Directors ensure that Woodgreen engages with the sector in a mutually beneficial way through participation in various sector groups such as the Association of Dogs and Cats Homes. Woodgreen also believes in developing strong partnerships with its key suppliers and this approach is embedded in its procurement policy.

Besides the organisation refocus discussed above, the board has been working to ensure that Woodgreen emerges into the post-pandemic world in a financially sustainable position. This has been achieved by integrating the implementation of the Pet Services Strategy alongside the Fundraising Strategy and a long-term financial plan.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Achievements, performance and future plans

How did the demand for services look during this period?

Woodgreen’s Pet Support team handled 56,700 pet related enquiries, with over 32,000 people contacting us through our dedicated helpline and a further 21,620 by email or social media channels. Our approach is to match the appropriate service to the pet and owner’s need. Like NHS 111, our team talk to the owner to get a detailed understanding about their situation, and that of their pet. This enables us to triage them into the best service.

Many people reach out for help without knowing about the full range of services that we offer. They often don’t realise that we can help owners keep their pets if this is in the best interests of the owner and the pet, so it’s vitally important to make them aware of this. This also means that we can prioritise those pets who need us the most through our direct care services.

We took 2,282 pets directly into our care

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

To help more pets, it is important to minimise their length of stay with us. This has reduced over the 12-month period between April 2021 and March 2022 for dogs and cats, while for small pets it has increased due to external circumstances, which are explained below.

From a rehoming perspective, the increasing cases of dogs and cats with complex needs coming into our care, both behaviourally and medically, have made it challenging to find them the right homes as quick as we’d like to. Pets who will need a higher level of training or medical support in their new homes have remained in our care for prolonged periods of time. And, unfortunately, there is often a lack of interest in them among pet seekers.

We supported 4,837 pets in homes across communities and beyond

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

including the aforementioned. For our smaller pets, advice was most commonly sought about mixing (introducing pets with a view to housing them together), and handling.

We supported 9,513 people in their pet ownership journey, helping to set them up for success while also detecting and preventing any issues in the future. A further 619,178 people actively engaged with our pet advice online content

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

The broader picture – what were the highs and lows for pets?

Demand for pets dropped significantly, with pet seekers decreasing from 68,906 last year to 15,565 this year. The most significant drop was the demand for our dogs.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

this meant they couldn’t enjoy their new run areas which were added as part of a recent small pets refurbishment, they were reintroduced to these areas as soon as restrictions were lifted in May 2022.

Some of the projects we have been working on

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

system has freed up valuable time for our vets and nurses. This means they can focus on providing hands-on care and treatment to our pets.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Our new look advice pages give pet owners, or those considering getting a pet, free access to expert advice developed by our in-house teams. They now have an improved search facility too, along with clearer access to online workshops across the species. The site provides a one stop shop for all pet advice and support needs.

Working together to support pets and their people

To reach more pets and have an even bigger impact, it is important for us to work in collaboration with other like-minded organisations on issues relating to animal welfare. This year we have continued to actively work as members of the following groups:

Looking to the future

Now that we’ve defined our vision through the development of our Pet Services Strategy, we are looking forward to delivering even more positive outcomes for pets and their people throughout 2022/23.

Our work over the next 12 months will see us working towards the following:

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Environment

Woodgreen has always taken a proactive approach to reducing its impact on the environment in many ways. For example, there is a wind turbine at the Godmanchester Centre that generated 1.7m kwh of electricity, with 1.0m kwh exported to the national grid. Photovoltaic panels generate a further 8,000 kwh of electricity annually.

Actions taken at our main Godmanchester Centre during the reporting period include continuing the installation of LED lighting with movement detectors, as well as completing an upgrade to the wind turbine to improve its efficiency.

Plans for next year include carrying out a further review under the Energy Savings Opportunity Scheme 3, replacing our petrol/hybrid owned small vehicles with a fully electric vehicle fleet, and putting in place an Environmental Sustainability Policy.

In line with the requirements for Streamlined Energy and Carbon Reporting, we have analysed our organisation wide energy usage, and these are summarised as follows:

Energy type tCO2e tCO2e
2022 2021
Electricity imported from the national grid 156.34 124.95
Natural gas imported from the gas network 0.31 2.02
Liquid petroleum gas (propane) 56.15 45.61
Fuel used for owned vehicles 51.04 26.54
Fuel claimed for business mileage 21.90 21.00
Total 285.74 220.12

This analysis is based on usage stated in source documentation and has been converted into tCO2e using the UK Government GHG Conversion Factors for Company Reporting (2021).

UK energy usage covers all of our charitable activities and support activities carried out at our main site in Godmanchester and our retail network of 22 charity shops.

Total emissions of 285.74 tCO2e equates to 1.03 tCO2e (2021: 0.89) per full-time equivalent employee. The increase in energy consumption between the two years is reflective of the charity increasing activity levels as Covid-19 restrictions were eased.

In addition to the above, Woodgreen used 700,000 kwh of electricity generated from its wind turbine and solar panels. This is the equivalent of 149 tCO2e of emissions that otherwise would have been created had that power been drawn from the National Grid.

Financial Review

Income

Woodgreen’s total income in the year was £17.1m (2021: £12.8m). This increase was due to an increase in legacy income to £7.4m (2021: £4.5m), and higher donations of £5.8m (2021: £5.2m). We also saw charity shop trading income rise to £2.6m (2021: £0.7m) following the exit from the Covid-19 lockdown measures imposed in the prior year. Despite the increase in legacy income, we are aware that there are still delays in the Probate system and with HMRC approving final estate accounts.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Income from charitable activities is largely from animal rehoming fees, and the relaxation of Covid-19 restrictions meant this source of income saw an increase of 23% to £0.2m.

Expenditure

Total expenditure increased by 17.5% to £18.1m (2021: £15.4m). The increase was due to resumption of activity levels reflective of the relaxation of Covid-19 restrictions, which affected all costs across the charity. Other trading costs increased to £3.0m from £2.3m due to the reopening of the charity shops. Expenditure on our charitable work was £7.1m (2021: £7.0m), which was less than budgeted due to a difficulty recruiting and retaining staff.

Net position

Net income after investment gains shows a deficit of £0.9m (2021: deficit £1.0m), which is £1.3m worse than the budgeted surplus of £0.4m. This is largely due to the delay in the sale of the two sites that were closed in prior years. Investment gains in the year were £0.2m (2021: gain of £2.6m) due to the financial market’s reaction following economic shocks caused by high global inflation and the war in Ukraine.

This year’s result means that total year end funds reduced by 3.7% to £23.3m, of which £0.1m were restricted (2021: £0.85m).

Fixed assets

Fixed assets are held to achieve the objects of the charity. Movements in fixed assets during the year are set out in notes 9 and 10 of the financial statements. Tangible fixed asset additions include the new Cat Care Centre at Godmanchester that was completed in February 2022 at a cost of circa £2.4m. Intangible work in progress relates to the new pet management information system that will be completed later in 2022.

Woodgreen’s founding site at 601 Lordship Lane, London was closed in March 2020 and the site at Heydon was closed in March 2021. Both were marketed for sale during the year. The London site has been sold on a “subject to planning” basis and therefore no sale proceeds have been recognised. The site at Heydon is still being marketed.

In October 2017 Bidwells performed a desktop valuation of the charity’s freehold land and buildings on an ‘existing use’ basis. The valuations of our Godmanchester, London and Heydon centres are not being adopted by the charity; the Council is of the opinion that the ‘existing use’ valuations of the sites do not give a true and fair reflection of their value to the Charity. Their inclusion at depreciated historic cost is considered a more appropriate basis, as stated in note 9 of the accounts.

Investments

The charity held listed investments totalling £13.5m (including working capital) at the end of the year (2021: £13.2m). The investments are all held in a medium-high risk total return portfolio. The portfolio is long-term in nature and is held to generate both income and capital growth. The portfolio is managed by Charles Stanley on our behalf on a discretionary basis, subject to a risk profile and asset allocation agreed by the Trustees. JTFM Investment Consulting continue to act as our independent investment advisers, reviewing the performance of our investment managers.

Performance of the growth portfolio is measured against the MSCI Private Investor Balanced Total Return Index. This benchmark for the asset allocation has been consistently exceeded by our investment managers in the five years until March 2021. However, during 2021/22 the benchmark total return was 7.8% against our portfolio growth of 2.6%. The underperformance is

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

partly due to the impact of our ethical investment policy that means we are unable to invest in the oil sector. This has been responsible for reducing gains in the second half of the year. Our investment policy targets a rolling five-year return of inflation (as measured by CPI) plus 3%. As at March 2022, the five-year return on the growth portfolio was 50.5% against the target of 30.4%.

As at 31 March the total portfolio was split as follows:

Listed equity investments
Fixed and variable interest bonds and gilts
Other
Cash
Total listed investments		 2022
£000
2021
£000
8,688
9,461
1,820
2,949
2,075
569
952
235
13,535
13,214

Woodgreen has an ethical investment policy which states that it does not invest, directly or indirectly, in companies that carry out animal testing for non-medical purposes. This includes organisations involved in any aspect of the fur trade.

Reserves

As a charity we rely on a number of income streams including donations, legacy gifts, trading profits and investment income and gains. Legacy gifts and investment income and gains, in particular, are subject to large in-year fluctuations as can be seen when looking at the 2022 results compared to 2021. However, there will always be pets in need of our rehoming services and people who need our advice and education services. As a charity we are committed to providing a comprehensive ongoing service for them. To do this we need to maintain a level of reserves in case there is a short-term fall in income or an exceptional rise in costs.

The Trustees have set a policy that requires 6-9 months of budgeted expenditure in free reserves. Free reserves are deemed to be the unrestricted funds remaining after accounting for our designated funds for fixed assets (£7.6m) and the revaluation reserve (£3.3m) – see note 16 of the accounts. As at 31 March 2022 the level of free reserves stood at £12.3m (2021: £12.8m) and represent 7.2 months’ of 2023 budgeted expenditure.

Restricted income is that which is given with a specific purpose and these are detailed in note 16. The balances remaining on restricted reserves at 31 March 2022 only amounted to £0.1m.

Going concern considerations

The Trustees have carried out a going concern review. They have concluded there are no material uncertainties that may cast significant doubt on our ability to continue to adopt the going concern basis of accounting for at least twelve months from the date when the financial statements are authorised for issue.

In carrying out the review, the Trustees considered the financial impact of the key risks facing the charity. A reduction in individual giving and a fall in legacy income are likely to have the highest short-term impact. The worst-case scenario would see this reduction alongside a fall in the value of our investment portfolio, which is where our unrestricted free reserves are invested. Stress testing shows that our reserves will be sufficient even if we see a 50% reduction in individual giving and legacy income combined with a 25% drop in the value of our investments.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Our approved budget for next year shows budgeted deficits of £0.7m in the year to March 2023 and £1.4m in the year to March 2024.

The budgeted impact on reserves would result in unrestricted free reserves of £12.4m at March 2023 and £11.5m at March 2024. Both of these figures are within our target range of 6-9 months of budgeted expenditure. Most of our reserves are held within our investment portfolio, which are forecast to total £14.2m at March 2023 and £14.3m at March 2024.

The value of our fixed assets has also been reviewed. However, given that our operations are fully functional, there is no reason to reduce the carrying value or remaining life of any individual asset or category of assets.

Principal risks and uncertainties

The trustee body (Council) is responsible for ensuring that effective risk management and internal control systems are in place to manage the charity’s exposure to major risks. These include fraud and other irregularities. We operate a risk management framework designed to mitigate, though not to eliminate, major risks. It also provides reasonable, though not absolute, assurance against material errors or loss.

The charity has a comprehensive annual business planning and budgeting process. This process and the annual budget is approved by the Council. Performance is then monitored and reported on during the year in reports to the Finance and Risk Committee and Council. Major public, employer and property liabilities are fully insured. The Charity has risk management policies in place to identify risks arising from the external environment and existing operations.

Risks are assessed according to the potential strategic impact on the charity and their likelihood of occurrence. Controls are in place and are constantly reviewed and updated to manage these risks. The most recent update was approved by Trustees in June 2022.

The principal risks facing the charity’s objectives are summarised below, along with the main mitigating actions in place.

Principal risks Risk management
Raising funds
Negative economic impact results in a sustained
reduction in cash and regular donations. (HIGH)
Legacy income is forecast to fall at least 20%
below budgeted levels for the next two years,
leading to the inability of the charity to implement
its strategy. (MEDIUM)		 Diverse fundraising base with investment to grow
multiple channels. Strategy based on recruiting
regular givers to improve sustainability of income.
Significant investment and activity to drive legacy
marketing. Invest in digital fundraising platform
and function, as well as commercialisaton.
Regular monitoring of current performance,
pipeline, and general legacy trends. Active
marketing to prospective legators through
increased activity and better use of data. Keeping
products, such as Pet Promise, refreshed. Ability
to switch resources to other fundraising channels.
Reputation
An incident, activity, decision, or event, resulting
in an allegation against Woodgreen or the sector,
whether true or false, that causes reputational
damage to the charity. (HIGH)		 Staff briefed to report potential issues to line
manager and/or Comms team, with the Comms
team providing a reactionary response. Comms
team also use media (social and print) monitoring
agency and YouGov to monitor reputation, both

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Principal risks Risk management
Inability of the Trustees to hold the Leadership
team accountable to develop, deliver and adapt
corporate strategies and operating plans, leading
to a stagnating and less impactful organisation.
(MEDIUM)
Serious safeguarding issue affecting a customer
or supporter resulting from action by a
Woodgreen employee or volunteer leading to
reputational damage to the charity. (MEDIUM)		 instantaneously and over time. Policies are in
place to deal with potentially controversial issues.
Trustee sub-committees consisting of subject
matter experts. Regular reporting to Trustees on
strategic matters and the development of new
strategic approaches and associated operational
plans. Regular reviews of performance. Ongoing
training and information provision to Trustees on
their legal and sector role and responsibilities.
Fundraising Vulnerable Persons policy. Public
Interest Disclosure Procedure in the Staff
Handbook for reporting. Mental health training to
spot safeguarding issues internally and
externally. Lone worker policies and procedures.
Customers and supporters can access our
complaints process to report concerns.
Whistleblowing Policy. Referencing and DBS
policy. Mandatory Safeguarding eLearning
training with compliance checks.
Business interruption
The inability to retain or recruit staff of the right
calibre and/or maintain morale, which impacts the
performance of the organisation and its capacity
to deliver its strategic priorities. (HIGH)
Theft, destruction, or corruption of customer
and/or supporter data. The consequences could
include reputational damage, inability to contact
supporters/customers, and inability to collect
payments. (MEDIUM)
Regional or national disease epidemic negatively
affects the accessibility and delivery of pet
services. (MEDIUM)		 Policies and procedures are in place to ensure
pay equity. Investment has been made in hiring
systems, discipline specific job boards and a
suitably qualified and experienced talent team to
facilitate in-house search and recruitment. The
People team is continuously monitoring labour
turnover for insight to spot trends and put actions
in place. We are creating a positive
organisational culture through the development of
our Ways of Working. Biennial engagement
surveys are in place for staff feedback and
temperature checks on morale. Clear Review
system introduced to improve performance
management and engagement.
Data transfers adhere to industry security
standards. Only relevant recognised users have
access to data. Platforms such as Sharepoint
have security of which only the named person
has access, and this access cannot be
transferred. Data is destroyed/deleted once it has
been used for the temporary purpose. IT security
measures restrict external attacks and
penetration testing is done regularly. The Data
Governance Assurance Framework now has no
significant data risks not addressed.
Business Continuity Plans and Incident
Management processes are well established and
have been fully tested. Many staff can work from
home as all systems are accessible remotely;
healthy pets can be housed with fosterers; the
majority of the animal rehoming journey can be
carried out remotely. Site development plans

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Principal risks Risk management
continue to recognise importance of ability to
isolate sections or areas.
Financial
Serious financial fraud is carried out against the
charity. (MEDIUM)		 Procurement procedures; dual payment
authorisation; rigorous bank detail change
controls; strong internet banking security;
continuous training on cyber threats; segregation
of duties; and regular reconciliations. Cyber crime
insurance is in place. Cyber Security training is
now a compulsory training course for all staff.

People

Woodgreen’s people are our most valuable asset. We rely on their skills, experience, and knowledge to deliver the charity’s mission to improve pet’s and people’s lives. We could not do what we do without the dedication of our 312 employees. Our volunteers also play a crucial role through the time they give in our retail shops and frontline services, as well as fundraising and supporting us in other ways. In 2021/22 we had the support of 865 people who chose to volunteer, giving us 245,790 hours in donated time. Throughout this period the Covid-19 pandemic continued to impact our colleagues and cause disruption to our normal ways of working. We continued to provide as much support as possible, facilitating hybrid working where the role allows, embracing digital technology and improving our policies, processes and systems. Whatever it took to make things faster and simpler for our colleagues and ensure we all remain connected.

Diversity and inclusion underpin our ‘One Team’ core value. We comply with the Equality Act 2010, ensuring an inclusive working environment free of discrimination at all stages of the employment life cycle, and we continually review for bias within our policies and practices across the organisation. We have zero tolerance for behaviour, attitudes and language which may be deemed to be offensive, derogatory or discriminatory, ensuring it is not overlooked but challenged, with the aim of effecting change or redress.

Being a diverse and inclusive employer is so important to us. We are able to record, track and report the protected characteristics of our employees and candidates, specifically in relation to their age, gender, race, ethnicity, nationality, faith, sexual identification and gender reassignment. The insights gained will inform our equality, diversity and inclusion plan to embed EDI in our culture.

Involving and consulting our staff on significant organisational initiatives is done through our Staff Forum. Each Staff Forum member represents a number of constituent colleagues to ensure that everyone has an opportunity to be kept informed and listened to. We also have a person dedicated to internal communication that allows staff and volunteers to be kept updated with the day-to-day activities of Woodgreen as well as longer term strategic developments and organisational performance.

We have not been immune to “the great resignation”, the ongoing global phenomenon that describes record numbers of people leaving their jobs after the pandemic triggered a shift in their priorities. In this financial year 71 staff voluntarily resigned from their job, an increase of 97% from 2020/21 (36). During this period, we recruited into 106 positions and supported these new hires with the introduction of a new digital onboarding process.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Consequently, employee retention and morale is the most significant risk on the corporate risk register, and we took a number of actions in this period to mitigate this. The Remuneration Committee’s remit and terms of reference was reviewed and changed to incorporate wider people matters. In addition to the overarching principles, parameters and affordability of the Remuneration Policy, the purpose of the renamed “People Resource Committee” is to consider, oversee and evaluate the appropriateness of our People Strategy. This includes providing necessary challenges on the strength and effectiveness of our plans, policies and frameworks. All of these enable us to attract, motivate and retain an inclusive and diverse selection of directors, staff and volunteers. They also ensure we have the right skills, expertise, structures and conditions in place to enable the charity to achieve its strategic aims. Therefore, any feedback on these plans is very important to us.

As the cost of living increased, fuelled further by the impact of events in Ukraine, we were pleased to be able to give staff an ad hoc pay award of circa 2% in October 2021. In addition, we provided staff with a non-consolidated bonus in March 2022, ahead of the annual pay award of 3% on 1 April 2022. We were also delighted that the work we had undertaken the previous year on job evaluation and introducing new pay bands was reflected in our 2021 gender pay gap. In 2021 the median gender pay gap reduced to 0.6% – the lowest it’s ever been at Woodgreen – compared to 6.7% last year and 11.2% in 2019. This is below organisations in the same sector (charities/not-for-profit: 2.2%) and considerably below the UK national average of 15%.

Learning and development for our people has expanded. We introduced our new first-line management programme “Leading with Pride” and strategic development programmes for directors and senior leaders. Digital technology was utilised to deliver these when we were not able to meet face to face. Last year, we trained 132 employees and managers and a further 42 e-learning courses were completed by 511 staff and volunteers.

Our plans for 2022/23 continue to focus on the retention and wellbeing of our staff and volunteers through:

Fundraising and our supporters

The last year has been truly exceptional for fundraising and we are, as ever, indebted to the generous and unwavering support provided by our donors and volunteers. They’ve helped Woodgreen raise £15.8m of voluntary income, with gifts from donations and legacies of £13.1m, up more than £3.4m or 35% on the previous year, and the best in the charity’s history.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Income from both legacy gifts and fundraising donations exceeded expectations and it is clear the work Woodgreen undertakes for pets and their people is deeply important to long-standing and new supporters alike.

Legacy income rebounded from a challenging year in 2020/21. During this period we experienced issues with external administration, from the granting of probate through to tax assessments and processing, which impacted the number of gifts Woodgreen received. The backlog that developed, affecting us and the wider sector, is slowly being resolved. We have seen income and notifications for new gifts rising steadily as a result.

The total value of gifts from bequests was more than £7.3m for the year and we expect this figure to rise again in the coming years. This reflects trends in the sector and is underpinned by our recent investment in legacy marketing. The importance of this can’t be overestimated – it ensures everyone we speak to understands the incredible difference a legacy gift can make to pets and people.

Nothing demonstrates the generosity and impact such gifts can have more than the opening of the Snowden Cat Care Centre this year (see page 11). The centre was largely funded by a generous legacy from Mary Snowden in 2019 and we were delighted to welcome members of the Snowden family to visit the new Cat Care Centre. It was a pleasure to show them the incredible facilities we now have to care for cats and kittens in need.

We have and continue to invest in growing our fundraising. These funds enable us to make the biggest impact we can – being there for every pet and owner who needs us. This is a carefully considered strategy, recognising that investment in fundraising must be balanced against directing funds to charitable activities. However, as we continue to focus on transforming our existing pet services, now is the right time to create greater scope within our fundraising for the years ahead.

This investment is bringing excellent returns with donations growing from £5.2m (2020/21) to £5.8m (2021/22) – up 10%. Building on incredible support during the pandemic, our appeals continue to exceed expectations. The number of regular givers – so important for financial planning and sustainability at Woodgreen – continues to grow. In addition, the number of people choosing to support us with a Direct Debit increased over the year from 29,164 to 37,089.

Across all our fundraising we’ve had the opportunity to talk to members of the public about the work we do and the difference they can help make. At a time when the financial pressures on individuals and households across the UK are so acute, it is humbling that so many people continue to commit to supporting us with gifts large and small. Their generosity is unstinting and highlights a shared commitment to do whatever it takes to ensure pets and pet owners have the support they need. And to ensure pets are healthy, well cared for and in happy homes for life.

Our charity shops

After losing more than 7 months trading to the pandemic in 2020/21, we were able to reopen in April 2021 and slowly return to normal business. Our incredible shop teams – with the support of over 600 volunteers – worked tirelessly to meet the public’s enthusiastic return to the high street. Retail income rose to £2.8m, with a net profit for the year of £532,000 (2020/21: £70,000 loss), far ahead of our expectations.

We continued to expand our retail network, with new shops opening in Sudbury and Huntingdon. This work continues as we look for other sites across the region to generate additional income and awareness of Woodgreen.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

There is no single more important ingredient in our retail success than that provided by our volunteers. Over 600 incredible people, contributing their time and efforts to sort donated stock, help customers and process sales, gave over 135,000 hours, with a value of £1.4m. Anyone who has visited our shops will know how these volunteers perfectly represent Woodgreen, how caring and considerate they are and how dedicated they are to supporting our cause. We simply cannot thank them enough.

Raising money for Woodgreen

We receive no government funding and everything we do is possible only through the generosity of our incredible supporters and volunteers. We recognise that, now more than ever, people rightly expect that we fundraise in an open and honest, clear and respectful way.

We continue to work with carefully chosen agencies to deliver our fundraising, recognising that this is the most cost-effective option and enables us to reduce risk to the organisation. An important part of this is working closely with the staff of these agencies, as we recognise they are often our representatives out in the community. We are heartened by the many important conversations they have with members of the public. They passionately raise awareness about the work we do and – most importantly – share stories of the many pets who so desperately need our care and support.

We have careful safeguards to protect people in vulnerable circumstances, and we ensure these are followed through rigorous training, mystery shopping and other monitoring. In 2021/22, we received 93 complaints, very slightly down on the previous year. We continue to review and consider every complaint individually, and we use this insight to adapt, develop and strengthen our policies and procedures. Ultimately, these efforts help improve our fundraising.

Our fundraising and retail activities are regularly reviewed by the Council of Trustees and Senior Leadership team. We are members of the Fundraising Regulator and abide carefully by the Codes of Fundraising Practice. Supporting a charity like Woodgreen is a matter of choice, driven by a deep care for the work, impact and difference that a gift can have. We recognise the obligation this has on us, and we will continue to do everything we can to reflect the generosity that is shown towards the charity. Above all, we will ensure the support we receive is used in the best way to have the biggest possible impact on pets and their people.

This is the end of the Strategic Report.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

GOVERNANCE

Legal structure

Woodgreen is a charitable company limited by guarantee. The Articles of Association set out the charity’s objects and powers and is its Governing Document. The charity is governed by its Council of Management which consists of the Trustees as stated below and meets regularly throughout the year. As elected members the Trustees are subject to fixed terms of office. Decisions are taken by majority vote.

The charity has a 100% interest in its trading subsidiary, Wood Green Enterprises Limited, which runs non-charitable trading operations such as the sale of new goods in our charity shops and wind turbine electricity generation. Profits of the subsidiary are gifted to the charity in accordance with a deed of covenant.

As at 31 March 2022, the Council had the following committees which met during the year to advise on specific aspects of Woodgreen operations:

Pet Services – which reviews animal welfare and education policies and projects while also supporting their implementation.

Finance and Risk – which oversees all financial aspects of the charity including reviewing budgets, performance against budget, risk management, trustee report and accounts as well as setting and reviewing investment policy and performance.

People Resource – which oversees the remuneration policy of the charity and recommends major changes to employee remuneration and benefits to Council.

Appointment and induction of Trustees

Trustee recruitment and appointment takes place through a Trustee Search Committee that meets as required. This committee identifies the skills and experience likely to be of value to the charity and finds people with such skills who may wish to become Trustees or serve as a director of the charity’s trading subsidiary. An induction programme is offered to all new Trustees and further updates and training are provided as required. This includes visits to Woodgreen operations, meetings with the chief executive, members of the Senior Leadership team and other senior managers as appropriate.

Charity governance code

Woodgreen recognises that good governance is fundamental to our success in delivering for pets and their people.

During the year, we have developed our Theory of Change to enable us to prioritise and plan our activities in a way that maximises our impact. This in turn is being used to create our Pet Services Strategy, which was outlined earlier. Trustees have been involved in this journey and as a result we will be developing our governance reporting content to ensure that progress is monitored at every council meeting.

Risk management is taken very seriously by Trustees, and they carry out biannual reviews of the risks facing the charity and ensure that appropriate mitigations are put in place. As discussed earlier, we have recognised that recruitment and retention is the key risk facing Woodgreen. This is being closely monitored by Trustees, particularly by the People Resources sub-committee.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Also, this year we have developed our organisational values that we call our “Ways of Working”. Adherence to these values is critical for Woodgreen’s success and all Trustees have formally signed up to them to demonstrate leadership from the top.

Beyond “Ways of Working”, we also need to demonstrate our commitment to animal welfare, which is inherent to our mission. In June 2021, we reaffirmed our commitment to ban all investment holdings in companies that carry out non-medical animal testing as well as all companies linked to the fur trade.

Trustees have recognised there are some skill gaps in the current board make-up as well as a lack of diversity. As a result, we are actively looking to recruit a number of new Trustees during the next financial year.

Finally, recognising the strategic importance of volunteering to Woodgreen, we have established a volunteer governance board with the full support of Trustees. This will ensure that we have a clear relationship with our volunteers and will include the creation of a Volunteers Charter.

Public Benefit

Charity Trustees have a duty to ensure that the charity’s work meets public benefit requirements and to report on this in their Annual Report. The many activities undertaken by Woodgreen are summarised in this report and Trustees have given careful consideration to the Charity Commission guidance on public benefit in their decision making.

We believe that our work provides considerable public benefit by:

Our work in supporting pets in need through care, rehoming and educating the public about responsible ownership, provides a benefit to society as a whole. Through our services, we support people who are concerned about their pet’s welfare, whilst also improving the lives of the pets we rescue.

Policies and decision making

The Council, assisted by the chief executive and the Senior Leadership team, is responsible for formulating the strategy and policies of the charity as a whole. This includes the approval of budgets and exercising financial control through regular financial reporting. The Council acts on advice and information from regular meetings with its professional advisors as required. It also retains a number of professional advisors in conjunction with the operation of the charity. The advisors currently appointed are listed in this report.

The Council continually monitors the charity’s performance throughout the year including measurement against key performance indicators.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Reference and administrative details

Company details

Woodgreen is a company limited by guarantee, registered company no. 02073930, registered Charity no. 298348.

The registered office is at:

King’s Bush Farm, London Road, Godmanchester, Cambridgeshire, PE29 2NH.

President

Vacant

Vice Presidents

Dennis Baker OBE (until 19 August 2021)

Peter Burton OBE

Dr Peter Jackson MA BVM&S DVM&S FRCVS Myriam Warburton Celia Waldron

Council of Management (Trustees) P F R

Dr Steven Carden, Chair[Reappointed 1 July 2021 ] Angela Au MA (Cantab) FCA[Resigned 18 August 2022 ] Duncan Canney BSc (hons) Civ Eng FCA Reappointed 1 July 2021 John Cousins BSc, Treasurer[Reappointed 1 July 2021 ] Pamela Gee Reappointed 1 July 2021 Janet South BA FIoF[Resigned 17 September 2022 ] Jonathan Younger BA DipISP DipIDM Reappointed 1 July 2021 Lynn Povey LLB (hons) Reappointed 18 September 2021 Sarah Jaggers BSc (hons), MBA, MSc[Appointed 7 November 2020 ] Colin Alder Resigned 6 June 2022

Executive

Council delegates policy implementation to the chief executive who manages Woodgreen through the Senior Leadership team based in Godmanchester:

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Clive Byles Chief executive Ian Briggs Director of corporate services/deputy chief executive Linda Cantle Director of pet and owner support services Vanessa Cunningham Director of care and veterinary services Justin Morris Director of digital services and customer insight Rohan Putter Director of income and engagement

Principal professional advisors

External Auditors Crowe U.K. LLP 55 Ludgate Hill London, EC4M 7JW Investment managers Charles Stanley 55 Bishopsgate, London, EC2N 3AS Investment advisers JT Financial Management Spaces Station View, Austen House, Guildford, GU1 4AR Bankers NatWest 92 High Street, Huntingdon, PE29 3DT Solicitors HCR 50 - 60 Station Rd, Cambridge CB1 2JH

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Trustee responsibility statement

The Trustees (who are also directors of Wood Green Animal Shelters for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS102.

Company and Charity 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 of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate and proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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 each of the Trustees are aware there is no relevant audit information of which the Charity’s auditor is unaware. Each of the Trustees has taken all the steps that they ought to have taken as Trustees to make themselves aware of any relevant audit information and to establish that the Charity’s auditor is aware of that information.

Auditors

Crowe U.K. LLP were appointed by the Trustees as the Charity’s auditors on 7 December 2017.

The Trustees’ Report and Strategic Report were approved by the Trustees in their capacity as Directors of the company on 17 September 2022 and are signed on their behalf by

Dr Steven Carden, Chairman

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Independent auditors’ report to the members of Wood Green Animal Shelters

Opinion

We have audited the financial statements of Wood Green Animal Shelters (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities (incorporating an Income and Expenditure Account), the Group and Charity Balance Sheets, the Consolidated Cash Flow Statement 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 Financial Reporting Standard 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 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 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 or the group’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 contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

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 our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 28, 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.

Auditor’s 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 an

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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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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 auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act and taxation legislation together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were employment legislation, health and safety legislation, animal welfare regulations, fundraising regulations and General Data Protection Regulation (GDPR).

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of legacy and other income and the override of controls by management, in particular the appropriateness of journal entries. Our audit procedures to respond to these risks included enquiries of management and the Finance & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, sample testing of legacy and other income and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example,

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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 auditor’s 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.

Tim Redwood Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor

London 3 October 2022

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Income
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
Expenditure
Raising funds:
Donations and legacies
Other trading activities
Investment management fees
Charitable activities:
Animal rehoming and care
services
Education and awareness
Other expenditure
Total expenditure
6
Net gain/(loss) on investments
12
Net gain on investment
properties
Net (expenditure)/income
Transfers
NET MOVEMENT IN FUNDS
Reconciliation of funds
Total funds at 1 April
16
TOTAL FUNDS AT 31 MARCH
16		 Unrestricted
funds
£’000
13,111
198
3,445
303
17,057
(7,939)
(3,001)
(74)
(5,172)
(1,937)
-
(18,123)
107
60
(899)
751
(148)
23,330
23,182		 Restricted
funds
£’000
11
-
-
-
11
-
-
-
-
(6)
-
(6)
-
-
5
(751)
(746)
850
104		 2022
Total funds
£’000
13,122
198
3,445
303


















2021
Total funds
£’000
9,700
161
2,586
399
17,068 12,846
(7,939)
(3,001)
(74)
(5,172)
(1,943)
-		 (6,068)
(2,308)
(80)
(5,085)
(1,885)
-
(18,129) (15,426)
107
60		 2,452
103
(894)
-		 (25)
-
(894)
24,180		 (25)
24,205
23,286 24,180

All activities relate to continuing operations. There were no other recognised gains or losses other than those stated above.

The notes on pages 36 to 56 form part of these financial statements.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

BALANCE SHEET AS AT 31 MARCH 2022 COMPANY REGISTERED NUMBER: 02073930

Note
Fixed assets
Intangible assets
10
Tangible assets
9
Investment Property
11
Investments
12
Total fixed assets
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Total current assets
Creditors: amounts due
within one year
15
Net current assets
Total assets less current
liabilities
Provisions
15
NET ASSETS
The funds of the charity
Restricted funds
16
Designated funds
16
Revaluation reserve
16
General funds
16
NET ASSETS		 Group
2022
£’000
324
7,280
623
13,535
21,762
43
1,884
1,229
3,156
(1,463)
1,693		 Group
2021
£’000
112
5,361
563
13,214
19,250
48
1,265
4,658
5,971
(888)
5,083		 Charity
2022
£’000
324
7,280
623
13,540
21,767
43
2,225
883
3,151
(1,473)
1,678		 Charity
2021
£’000
112
5,361
563
13,219
19,255
48
1,564
4,340
5,952
(879)
5,073
23,455
(169)
23,286
104
7,604
3,290
12,288
23,286		 24,333
(153)
24,180
850
6,553
4,020
12,757
24,180		 23,445
(169)
23,276
104
7,604
3,290
12,778
23,276		 24,328
(153)
24,175
850
6,553
4,020
12,752
24,175

The deficit as per the Statement of Financial Activities for the parent charity only is £893,703 (2021: £21,813 deficit).

The financial statements were approved and authorised for issue by the Council of Management on 17 September 2022 and were signed on its behalf by:

Dr Steven Carden, Chairman Mr J M Cousins, Treasurer

The notes on pages 36 to 56 form part of these financial statements.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

Note
Cash flows from operating activities
Net cash used in operating activities
18
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Proceeds from sale of investments
Movement in investment cash
Purchase of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginning of the
reporting period
CASH AND CASH EQUIVALENTS AT THE END OF
THE REPORTING PERIOD		 2022
£’000
(714)
303
(2,806)
2
4,148
(717)
(3,645)
(2,715)
(3,429)
4,658
1,229		 2021
£’000
(2,146)
399
(387)
3
6,238
1,298
(1,911)
5,640
3,494
1,164
4,658

The notes on pages 36 to 56 form part of these financial statements.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting Policies

1.1 Basis of preparation and consolidation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

1.2 Group financial statements and consolidation

The Charity 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 notes.

The statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking, Wood Green Enterprises Limited. The results of the subsidiary are consolidated on a line-by-line basis. No separate SOFA or cashflow statement has been presented for the parent charity alone as permitted by section 408 of the Companies Act 2006. All entities prepared financial statements to 31[st] March 2022.

1.3 Going concern

The charity’s activities, together with factors likely to affect its future development, performance and financial position and commentary on its financial results and its cashflows, are set out in the Trustees’ report and elsewhere in the financial statements. The Trustees have concluded that no matters have come to their attention that would prevent the charity from being able to maintain its current charitable activities and trade with customers and suppliers and they therefore consider that it is appropriate for the financial statements to be prepared on the going concern basis.

1.4 Legal status of the charity

Wood Green Animal Shelters is a company limited by guarantee (registered number 02073930), which is a public benefit entity and registered as a charity in England and Wales (charity number 298348) and domiciled in the UK. The members of the company are the Trustees named on page 26. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The registered office is King’s Bush Farm, London Road, Godmanchester, Huntingdon, PE29 2NH.

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1.5 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

1.6 Income

Income is recognised when: i) the charity has entitlement to the funds; ii) any performance conditions attached to the items of income have been met; iii) it is probable that the income will be received; and iv) the amount can be measured reliably.

Donations

Donations are accounted for as received. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred until either those conditions are met in full, or their fulfilment is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued income in debtors.

Donated goods

Donated Goods are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102) volunteer time is not recognised; refer to the Trustees’ report for more information about their contribution. On receipt, donated goods are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is recognised in expenditure when the service is utilised or the gift distributed.

Legacies

Woodgreen recognises residuary legacy income at the earlier of the date of receipt or when the executors have determined that a payment can be made following the agreement of the estate’s accounts, or on notification by the executors that payment will be made. Pecuniary legacy income is recognised on receipt unless it is considered material (greater than 1% of total Woodgreen income) and there is non-contentious evidence of entitlement, value and probability of receipt, whereupon it is recognised in

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the same way as residuary legacy income. Life interest legacy income is recognised at the date of death of the life interest, provided the receipt and value criteria are met.

Trading activities

Income from trading activities includes income earned from activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Income received in advance for a future event is deferred until the criteria for income recognition has been met.

Government grants

Government grants are recognised on the performance model, when the Charity has complied with any conditions attaching to the grant and the grant will be received. The grant in connection to the coronavirus job retention scheme has been recognised in the period to which the underlying furloughed staff costs relate to.

Interest and dividends

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised on ex-dividend dates when the charity has unconditional entitlement to the distribution. Income accrued and not received on these securities at 31 March is included in the market value of the investments held.

1.7 Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, 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. Input VAT incurred which cannot be reclaimed is included as a cost.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Costs of raising funds includes fees and charges for the management of the investment portfolio, fundraising costs and costs associated with trading activities.

1.8 Tangible fixed assets and depreciation

Fixed assets are included at depreciated historical cost. Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation on tangible fixed assets is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

i) Freehold property – 2.5 to 4% per annum on a straight line basis; ii) Motor vehicles – 25% per annum on a straight line basis; iii) Wind turbine – 5% per annum on a straight line basis;

iv) Fixtures & fittings – 10 to 20% per annum on a straight line basis; and

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

Assets are reviewed for any indications of impairment at each balance sheet date. Assets under the course of construction are capitalised on practical completion.

1.9 Investments

Investments in subsidiaries are measured at cost less provision for impairment, if applicable.

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the mid-market quoted price (the difference between mid-market and bid price is deemed not to be material). The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

1.10 Investment properties

In accordance with FRS 102 investment properties are revalued. Revaluations are undertaken periodically based on open market values. These are revised in subsequent years by reference to published indices or comparative evidence and assessment of the circumstances of each property.

1.11 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

1.12 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the amounts receivable at the balance sheet date.

1.13 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

1.14 Creditors

Creditors and provisions are recognised where: i) the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party; and ii) the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount after allowing for any trade discounts due.

1.15 Financial instruments

The charity has financial assets and financial liabilities only of a kind that qualify as basic financial instruments. The treatment of these instruments is described in the accounting policies above.

1.16 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.17 Operating leases

The charity classifies its leases of equipment as operating leases: the title to the equipment remains with the lessor, and the lease term is typically five years whilst the economic life of such equipment is in excess of this. The charity also leases a number of premises from which it operates charity thrift stores; these are also considered operating leases with a term of three to five years. Rental charges are charged on a straight line basis over the term of the lease.

1.18 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Wood Green Enterprises Limited makes qualifying donations of all taxable profits to the charity at the discretion of the directors. No corporation tax liability arises in the accounts.

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

1.19 Accounting estimates and judgements

Preparation of the accounts requires the Trustees and management to make judgements and estimates.

The items in the accounts where the most significant judgements and estimates have been made include:

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Wood Green Animal Shelters Trustee Report and Accounts 2021-2022

2. Donations and legacies

Donations
Legacies		 Unrestricted Restricted
2022
2022
£’000
£’000
5,759
11
7,352
-		 Total funds

2022

£’000

5,770
7,352




Unrestricted
Restricted Total funds
2021
2021
2021
£’000
£’000
£’000
5,139
15
5,154
4,438
108
4,546
13,111
11
13,122		 9,577
123
9,700

In addition to the legacy income recognised in the SOFA, the charity has been notified of 106 residuary legacies (2021: 84) with a total estimated value of £8,751,000 (2021: £4,931,000). These legacies do not satisfy the criteria to recognise the income during the year. They are therefore disclosed as a contingent asset.

3. Income from charitable activities

Income from animal placements
Clinic and other services		 2022
£’000
189
9
198		 2021
£’000
156
5
_161 _

All income from charitable activities received in 2022 and 2021 are unrestricted funds.

4. Income from other trading activities

Charity shops
Retail government support grants
CJRS Claim
Other commercial trading
Fundraising events, raffles, and other income		 2022
£’000
2,635
76
7
674
53
3,445		 2021
£’000
741
612
597
594
42
2,586

All trading income received in 2022 and 2021 are unrestricted funds.

5. Investment income

Investment properties
Listed investments
Interest received		 2022
£’000
15
288
-
303		 2021
£’000
24
375
-
399

All investment income received in 2022 and 2021 are unrestricted funds.

Page 42

6. Expenditure by charitable activity

RAISING FUNDS
CURRENT YEAR
Donations and
legacies
£’000
Other trading
activities
£’000
Direct Costs
7,494
2,443
Allocated support costs
Management
81
101
Finance
47
60
IT and communication
35
43
HR
106
133
Volunteer management
1
1
Facilities & office costs
172
216
Governance
3
4
Investment
management
fees
£’000
74
-
-
-
-
-
-
-
74
80
-
-
-
-
-
-
-
80		 CHARITABLE ACTIVITES
Animal
rehoming &
care services
£’000
Education,
awareness and
publicity
£’000
3,762
1,505
256
79
151
47
110
34
337
104
2
1
545
170
9
3
5,172
1,943
3,725
1,502
277
78
128
36
143
40
258
73
5
1
539
152
10
3
5,085
1,885		 Total
expenditure
£’000
15,278
517
305
222
680
5
1,103
19
Total cost
7,939
3,001		 18,129
PRIOR YEAR
Direct Costs
5,689
1,850
Allocated support costs
Management
77
93
Finance
36
43
IT & communication
40
48
HR
72
87
Volunteer management
1
2
Facilities & office costs
150
182
Governance
3
3		 12,846
525
243
271
490
9
1,023
19
Total cost
6,068
2,308		 15,426

Direct expenditure on charitable activities includes £5,261,000 (2021: £5,160,000) spent from unrestricted funds and £6,000 (2021: £67,000) spent from restricted funds. All expenditure on support costs and raising funds is from unrestricted funds in 2022 and 2021. Support costs cannot be attributed to a single activity and have therefore been apportioned between the activities supported on the basis of full-time equivalent staff numbers.

.

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Wood Green Animal Shelters annual report 2021-2022

7. Net expenditure

This is stated after charging:

Group Group Charity Charity
2022 2021 2022 2021
£’000 £’000 £’000 £’000
Depreciation of fixed assets 675 641 675 638
Auditors remuneration for:
Audit services 24 19 17 17
Tax compliance services 3 3 2 2
Operating lease payments 400 725 400 725

8. Staff costs and key management personnel

Staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs
Redundancy and termination costs
Apprenticeship levy
Total staff costs		 2022
£’000
7,166
636
385
28
18
8,233		 2021
£’000
6,615
575
314
55
18
7,577

The average number of employees (full-time equivalent) during the year was as follows:

Direct charitable activities
Raising funds
Support and administration
Total staff
he average number of employees (headcount) during the year
Direct charitable activities
Raising funds
Support and administration
Total staff		 2022
No.
151
82
44
277
was as follows:
2022
No.
177
94
47
318		 2021
No.
141
67
39
247
2021
No.
172
75
43
290

The average number of employees (headcount) during the year was as follows:

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Wood Green Animal Shelters annual report 2021-2022

The number of higher paid employees was:

2022 2021
No. No.
In the band £60,001 to £70,000 3 2
In the band £70,001 to £80,000 2 2
In the band £80,001 to £90,000 - 1
In the band £90,001 to £100,000 1 1
In the band £100,001 1 -

During the year, no Trustees received any remuneration (2021: £Nil). No reimbursement of travel expenses were made or are due to be made to any trustee in respect of the year (2021: £Nil).

The charity considers its key management personnel to be the chief executive and the Senior Leadership team. During the year, the total employment benefits of key management personnel was £654,000 (2021: £546,000).

During the year the charity paid a total of £29,000 (2021: £55,000) in redundancy and termination payments in respect of 1 employee (2021: 18 employees). The termination payments were all in cash and are a combination of compulsory and voluntary redundancy payments plus payments under settlement agreements.

Employer pension costs for higher paid employees totalled £42,000 (2021: £31,000).

During the year, Directors and Officers insurance was purchased to indemnify the Council of Management against default on their part. The cost of insurance amounted to £3,106 (2021: £4,500).

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Wood Green Animal Shelters annual report 2021-2022

9. Tangible fixed assets

GROUP and CHARITY
Cost
At 1 April 2021
Additions
Disposals
Transfers
At 31 March 2022
Depreciation
At 1 April 2021
Disposals
Depreciation
Transfers
At 31 March 2022
Net book value
At 1 April 2021
AT 31 MARCH 2022
Land and
buildings
£’000
11,109
2,289
(13)
142
13,527
7,310
(13)
317
7,614
3,798
5,913		 Fixtures,
fittings and
equipment
£’000
4,177
275
(224)
(24)
4,204
2,793
(224)
308
(25)
2,852
1,384
1,352		 Motor
vehicles
£’000
197
-
(18)
-
179
162
(18)
24
168
35
11		 Work in
progress
£’000
143
4
-
(143)
4
-
-
-
-
143
4		 Total
£’000
15,626
2,568
(255)
(25)
17,914
10,265
(255)
649
(25)
10,634
5,361
7,280

10. Intangible fixed assets

GROUP and CHARITY
Cost
At 1 April 2021
Additions
Disposals
Transfers
At 31 March 2022
Depreciation
At 1 April 2021
Disposals
Depreciation
Transfers
At 31 March 2022
Net book value
At 1 April 2021
AT 31 MARCH 2022		 Intangibles
£’000
-
63
-
92
155
-
-
26
25		 Work in
progress
£’000
112
175
-
(67)		 Total
£’000
112
238
-
25
220 375
-
-
-		 -
-
26
25
51
-
104		 - 51
112
220		 112
324

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Wood Green Animal Shelters annual report 2021-2022

11. Investment Property

GROUP & CHARITY
Valuation
At 1 April 2021
Revaluation
At 31 March 2022
Comprising
Historic cost
Revaluation
At 31 March 2022		 Freehold
investment
property
£’000
250
60
310
62
248
310		 Long-term
leasehold
investment
property
£’000
313
-
313
158
155
313		 Total
£’000
563
60
623
220
403
623

The properties were last formally revalued, at open market value, by the Council as at 31[st] March 2018. The Council has considered the valuation of the freehold investment property as at 31 March 2022 considering the prices of sold properties in the area and has recognised a gain of £60,000. In respect of the leasehold investment property, the Council believes that the 2022 open market valuation is not materially different from the value included in the financial statements.

12. Fixed asset investments

Market value
At 1 April
Additions
Disposals
Net gain/(loss)
At 31 March
Investment cash
Total investments		 GROUP
2022
Total
£’000
12,979
3,645
(4,148)
107
12,583
952
13,535		 GROUP
2021
Total
£’000
14,854
1,911
(6,238)
2,452
12,979
235
13,214		 CHARITY
2022
Total
£’000
12,984
3,645
(4,148)
107
12,588
952
13,540		 CHARITY
2021
Total
£’000
14,859
1,911
(6,238)
2,452
12,984
235
13,219

The charity holds a portfolio of listed investments, revalued to the market value at the balance sheet date. The gain or loss on this revaluation is realised once the investment is sold. The historical cost of listed investments held by the Group is £9,696,000.

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Wood Green Animal Shelters annual report 2021-2022

The charity owns 100% of the £1 ordinary share capital of Wood Green Enterprises Limited, incorporated in England and Wales. Shares in group undertaking is £5,000. The results of the company have been consolidated into these financial statements. See Note 21 for a summary of the results of Wood Green Enterprises Limited.

Listed securities held at 31 March 2022 comprised the following asset classes:

UK fixed income
UK equity
Non-UK fixed income
Non-UK equity
Other investments
Total investments		 Value
2022
£’000
597
2,548
1,223
6,140
2,075
12,583		 Percentage
2022
%
5
20
10
49
16
100		 Value
2021
£’000
2,314
2,917
635
6,544
569
12,979		 Percentage
2021
%
18
22
5
50
5
100
13. Stock
Goods for resale
Surgery Stock
Donated animal feed		 Group
2022
£’000
43
-
-
43		 Group
2021
£’000
23
25
-
48		 Charity
2022
£’000
43
-
-
43		 Charity
2021
£’000
23
25
-
48

14. Debtors: falling due within one year

Trade debtors
Amounts owed by group
undertakings
Other debtors
Prepayments and accrued
income
VAT repayable
Legacies receivable		 Group
2022
£’000

126
-
-
1,062
453
243
1,884
Group
2021
£’000

30
-
1
885
258
91
1,265		 Charity
2022
£’000

125
525
-
879
453
243
2,225		 Charity
2021
£’000
29
456
1
721
266
91
1,564

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Wood Green Animal Shelters annual report 2021-2022

15. Creditors

Falling due within one year
Trade creditors
Other creditors
Amounts owed to group
undertakings
Accruals and deferred income
Falling due after more than one
year
Provisions
Provisions reconciliation
As at 1 April 2020
Additions
Released to income
As at 1 April 2021
Additions
Released to income
As at 31 March 2022		 Falling due within one year
Trade creditors
Other creditors
Amounts owed to group
undertakings
Accruals and deferred income
Falling due after more than one
year
Provisions
Provisions reconciliation
As at 1 April 2020
Additions
Released to income
As at 1 April 2021
Additions
Released to income
As at 31 March 2022		 Group
2022
£’000
1,091
208
-
164
1,463
169
Group
£’000
155
7
(9)
153
16
-
169		 Group
2021
£’000

688
1
-
199
888


153

Charity
£’000
155
7
(9)
153
16
-
169		 Charity
2022
£’000
1,086
208
22
157
1,473
169		 Charity
2021
£’000
686
1
(5)
197
879
153

The provisions relate to dilapidations across 19 charity shops.

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Wood Green Animal Shelters annual report 2021-2022

16. Statement of funds

CURRENT YEAR
Restricted funds
Ms Snowden
P Larratt
Surgical Equipment
Other
Total restricted funds
Designated funds
Strategic Projects
Infrastructure Reserve
Tangible/intangible fixed
asset fund
Total designated funds
General funds
Revaluation reserve
Free reserves
Total general funds
TOTAL FUNDS
PRIOR YEAR
Restricted funds
Designated funds
Strategic Projects
Infrastructure Reserve
Tangible fixed asset
fund
Total designated funds
General funds
Revaluation reserve
Free reserves
Total general funds
TOTAL FUNDS		 Brought
forward
Income Expenditure Transfers
Gains/
losses
£’000
£’000
£’000
£’000
£’000
748
4
-
(752)
-
75
-
-
-
-
18
-
-
-
-
9
7
(6)
1
-
Carried
Forward

£’000

-

75

18

11
850
11
(6)
(751)
-		 104
80
-
(80)
-
-
1,000
-
-
(1,000)
-

5,473
-
(675)
2,806
-		 -

-

7,604
6,553
-
(755)
1,806
-		 7,604
4,020
-
-
(897)
167
12,757
17,057
(17,368)
(158)
-		 3,290

12,288
16,777
17,057
(17,368)
(1,055)
167		 15,578
24,180
17,068
(18,129)
-
167
23,286
Brought
forward
Income Expenditure
Transfers
Gains/
losses
£’000
£’000
£’000
£’000
£’000		 Carried
Forward

£’000
1,069
123
(346)
4
-
850
551
-
(320)
(151)
-
1,000
-
-
-
-
5,732
-
(642)
383
-		 80

1,000

5,473
7,283
-
(962)
232
-
6,553
1,465
-
-
-
2,555
14,388
12,723
(14,118)
(236)
-		 4,020

12,757
15,853
12,723
(14,118)
(236)
2,555
16,777
24,205
12,846
(15,426)
-
2,555
24,180

Included within General funds carried forward is £9,732 (2021: £14,361), which relates to Wood Green Enterprises Limited, a subsidiary of the Charity.

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Wood Green Animal Shelters annual report 2021-2022

16.1 Restricted funds

The Ms Snowden fund is a restricted legacy providing funding for the new cattery. The cattery was completed in 2022 and all restricted funds utilised.

The P Larratt fund is a restricted in-memory donation primarily providing funding for a cats training and behaviour manager and a community outreach advisor.

The Surgical Equipment restricted income was generated from the Spring 2020 appeal and the balance will be spent in the next financial year.

The Other restricted funds are restricted funds that individually are immaterial.

16.2 Designated funds

Tangible fixed asset fund

This represents the net book value of the land, buildings, motor vehicles and equipment owned and used by the charity to run its operations and administer the organisation.

Other designated funds are subject to an annual review to reflect changes in the charity’s plans.

Strategic projects

The charity spent the remaining £80,000 of designated funds within the year on various projects.

Infrastructure reserve

This fund was used to fund part of the costs of the new cattery along with the legacy from Ms Snowden and a fundraising campaign. The infrastructure reserve will be reviewed annually.

16.3 Revaluation reserve

The revaluation reserve represents the revaluation of the investment properties and investments held by the charity. Included within the revaluation reserve carried forward is £403,000 (2021 - £343,000), which relates to the revaluation of investment properties and £2,887,000 (2021 - £3,677,000), which relates to the unrealised gain on listed investments.

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Wood Green Animal Shelters annual report 2021-2022

17. Analysis of net assets between funds

Tangible assets
Investments
Net current assets
Provisions		 Unrestricted Restricted
2022
2022
£’000
£’000
7,604
-
14,158
-
1,589
104
(169)
-
Total
funds

2022

£’000

7,604

14,158

1,693
(169)







Unrestricted Restricted
Total
funds
2021
2021
2021
£’000
£’000
£’000
5,473
-
5,473
13,029
748
13,777
4,981
102
5,083
(153)
-
(153)
23,182
**104 **
23,286		 23,330
850
24,180

18. Net cash flow from operating activities

Net expenditure for the reporting period
(as per the Statement of Financial Activities)
Adjustments for
Depreciation charges
Gains on investments
Gains on investment properties
Dividends, interest and rents from investments
(Profit)/loss on sale of fixed assets
Decrease/(Increase) in stocks
Increase in debtors
Increase in creditors/provisions
Net cash used in operating activities		 2021
£’000
(894)
675
(107)
(60)
(303)
(2)
5
(619)
591
(714)		 2021
£’000
(25)
642
(2,452)
(103)
(399)
1
(23)
(57)
270
(2,146)

19. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an administered fund. The pension charge represents contributions payable by the charity to the fund.

Contributions outstanding at 31 March 2022 were £Nil (2021: £Nil), none of which were overdue. Total employer contributions paid in the year were £428,000 (2021: £314,000).

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Wood Green Animal Shelters annual report 2021-2022

20. Operating lease commitments

As at 31 March 2021 the group had total commitments under non-cancellable operating leases as follows:

Land and
buildings		 Other Land
and
buildings		 Other
2022 2022 2021 2021
GROUP £’000 £’000 £’000 £’000
Not later than one year 428 37 361 41
Later than one year and not
later than five years		 842 11 800 16
Later than five years - - 4 -
CHARITY
Not later than one year 428 37 361 41
Later than one year and not
later than five years		 842 11 800 16
Later than five years - - 4 -

Page 53

Wood Green Animal Shelters annual report 2021-2022

21. Principal subsidiaries

Company name Percentage shareholding Wood Green Enterprises Limited (Company no. 03161812) 100

The charity owns 5,000 £1 ordinary shares in Wood Green Enterprises Limited, King’s Bush Farm, London Road, Godmanchester, Huntingdon, PE29 2NH, which is incorporated in England and Wales. The subsidiary operated a coffee shop, conference facility and restaurant at King’s Bush Farm, Godmanchester, but these activities were discontinued permanently in March 2020. It continues to receive commission on pet insurance and trades in surplus electricity produced at the Godmanchester site. This is the charity’s only subsidiary.

Wood Green Enterprises Limited gifts its taxable profits to Wood Green Animal Shelters at the discretion of the Directors. A summary of the company's trading results is shown below. Audited accounts have been filed with the Registrar of Companies.

Profit and loss account
Turnover
Cost of sales
Gross profit
Trading and administrative expenses
Other interest receivable and similar income
Profit for the year
Balance sheet
Fixed assets
Current assets
Liabilities
Net assets
Share capital
Profit and loss account
Profit for the year
Distributions (Gift Aid donation)
Net assets		 2022
£’000
674
(16)
658
(133)
-
525

-
552
(537)
15

5
10
525
(525)
15		 2021
£’000
608
(1)
607
(159)
-
448
-
483
(469)
14
5
13
448
(452)
14

Included within the group unrestricted reserves carried forward are £14,361 (2021: £14,361), which relate to Wood Green Enterprises Limited.

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Wood Green Animal Shelters annual report 2021-2022

The transactions between the charity and the trading subsidiary are summarised below:

Nature of supply Amount for financial year
£’000
The charity as supplier
Payroll -
Rent for premises 63
Management recharge 22
Security services 4
Fuel 2
Printing services 1

The subsidiary made payments in the year totalling £452,000 to reduce the intercompany balances.

No loans are advanced by the charity to its subsidiary.

22. Related party transactions

Details of Trustee expenses can be seen in Note 8. Details of transactions with the Trading Subsidiary can be seen in Note 21.

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Wood Green Animal Shelters annual report 2021-2022

23. Statement of Financial Activities – prior year comparatives

Income
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
Total income
Expenditure
Raising funds:
Donations and legacies
Other trading activities
Investment management fees
Charitable activities:
Animal rehoming and care
services
Education and awareness
Other expenditure
Total expenditure
Net gain/(loss) on investments
Net gain on investment
properties
Net Income / (expenditure)
Transfers
NET MOVEMENT IN FUNDS
Reconciliation of funds
Total funds at 1 April
TOTAL FUNDS AT 31 MARCH		 Unrestricted
funds
£’000
9,577
161
2,586
399
-
12,723

(6,068)
(2,308)
(80)
(4,763)
(1,861)
-
(15,080)
2,452
103
198
(4)

194

23,136
23,330		 Restricted
funds
£’000
123
-
-
-
-
123

-
-
-
(322)
(24)
-
(346)
-
-
(223)
4

(219)

1,069
850		 2021
Total funds
£’000
9,700
161
2,586
399
-



















2020
Total funds
£’000
10,794
301
2,768
629
531
12,846 15,023
(6,068)
(2,308)
(80)
(5,085)
(1,885)
-		 (5,519)
(2,721)
(90)
(5,122)
(2,321)
-
(15,426) (15,773)
2,452
103		 (383)
-
(25)
-		 (1,133)
-
(25)
24,205		 (1,133)
25,338
24,180 24,205

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