## **THE KENNEL CLUB CHARITABLE TRUST**
**REPORT AND FINANCIAL STATEMENTS**
**YEAR ENDED 31 DECEMBER 2021**
**REGISTERED CHARITY NO. 327802**
## **THE KENNEL CLUB CHARITABLE TRUST**
**REGISTERED CHARITY NO. 327802**
## **REPORT AND FINANCIAL STATEMENTS**
**YEAR ENDED 31 DECEMBER 2021**
## **CONTENTS**
**TRUSTEES' REPORT ......................................................................................................................................... 2 STATEMENT OF TRUSTEES' RESPONSIBILITIES .......................................................................................... 7 AUDITORS' REPORT .......................................................................................................................................... 8 STATEMENT OF FINANCIAL ACTIVITIES ....................................................................................................... 12 BALANCE SHEET ............................................................................................................................................. 13 NOTES ON THE FINANCIAL STATEMENTS ................................................................................................... 14**
- 1 -
## **THE KENNEL CLUB CHARITABLE TRUST TRUSTEES' REPORT YEAR ENDED 31 DECEMBER 2021**
The Kennel Club Charitable Trust is a registered charity (No. 327802) and is governed by its Trust Deed dated 3 May 1988.
## **Patron**
Her Majesty The Queen is the Trust's Patron.
## **Vice-President**
Sir John Spurling KCVO OBE is the Trust's Vice-President.
## **Trustees**
The following have been the Trustees throughout the period covered by the attached financial statements (except where stated):
Revd W King (Chairman) Mrs J Millard Professor M Herrtage Dr A Higgins Mr G Hill Mrs R Smart
The Trustees met on five occasions during the year to consider the business of the Trust and the making of grants. The Trustees receive no remuneration or benefits from their position, but their expenses connected with the Trust are reimbursed by the Kennel Club Limited (see Note 3).
## **Ambassadors**
The following have been Ambassadors for the Trust throughout the year (except where stated):
Mr R Morland East Anglia The late Mrs I E Terry South East Mr M L Vines Gloucestershire/Avon Mr A R J Morgan South Wales Mr S Jones North Wales Mrs M Hennis Scotland
When called upon, the Ambassadors (like the Trustees) represent the Trust whenever appropriate (for example, ceremonially accepting donations to the Trust or inspecting applicants for grants who are unknown to the Trustees). In these ways the existence and Objects of the Trust can be made known to a wider audience, and the reputation of the Trust can be protected.
The Trustees also wish to note with sadness the passing of Mrs I E Terry who passed away in 2022 and wish to record their thanks for all the support Mrs I E Terry provided over the years to the Charity as an ambassador.
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## **THE KENNEL CLUB CHARITABLE TRUST TRUSTEES' REPORT YEAR ENDED 31 DECEMBER 2021**
## **Administration Details**
The Principal Office of the Trust is:
The Kennel Club Limited 10 Clarges Street Piccadilly London W1J 8AB
Bankers:
Barclays Bank plc Barnet and Hampstead Business Centre London N20 0WE
Metro Bank plc One Southampton Row London WC1B 5HA
Auditors:
BDO LLP 55 Baker Street London W1U 7EU
Investment Advisors:
CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ
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## **THE KENNEL CLUB CHARITABLE TRUST TRUSTEES' REPORT YEAR ENDED 31 DECEMBER 2021**
## **Charitable Objectives**
The Objects of the charity can be summarised as being:
1. To promote the advancement of education and science by furthering research into canine diseases and hereditary disorders of dogs.
2. To promote the quality of life of human beings by promoting dogs as therapeutic and practical aids to humans.
3. To promote the relief of suffering of dogs which are in need of care and attention.
These Objects have applied since the foundation of the Trust in 1988.
## **Financial statements**
The accompanying financial statements cover the year ended 31 December 2021.
The Trustees consider that, in the context of the substantial liquid assets available to the charity in the form of cash and investments, the going concern basis on which the accounts are prepared is appropriate and that applicable accounting standards and statements of recommended practice have been followed.
## **Review of the year and future developments**
The Trust's total outgoings for 2021 were £686K (2020 - £721K). Of these amounts £496K (2020 - £622K) represented grants made by the Trust.
Total income was £909K compared with £899K in 2020. Thus, together with investment income from the Trust’s investment portfolio, there was a net inflow before adding unrealised gains on investments of £223K (2020 - net inflow £179K). Together with a net unrealised gain on the value of investments amounting to £274K (2020 - £116K), current year funds increased by £497K; in the prior year there was an increase of £295K. Since the year end, in common with investment markets generally and due to economic and geopolitical uncertainty, the Trust’s investment portfolio has fallen in value by £250k by 30 June 2022.
Scientific grants amounted to £403K (2020 - £210K), including to the re-formed Kennel Club Genetics Centre in partnership with the University of Cambridge .
Non-scientific grants amounted to £94K (2020 - £412K), made to a total of 15 recipient bodies, including to the International Canine Health Awards.
Details of all grants made are shown in Note 2.
The Trustees launched the charity’s new fundraising strategy in May 2021, to develop its own fundraising income streams, increasing the financial resilience of the Trust, providing additional resources to fund canine medical research, and to reduce reliance on donations from the Kennel Club in funding the Trust’s activities.
## **Investments and Cash Balances**
The Trustees, advised by their professional investment advisors, follow an investment policy which seeks balanced income and capital growth, with a moderate attitude to risk, and within ethical parameters which they have defined recognising the Trust’s charitable purpose. The Trust's investments are represented by units in CCLA's Charities Investment Fund.
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## **THE KENNEL CLUB CHARITABLE TRUST TRUSTEES' REPORT YEAR ENDED 31 DECEMBER 2021**
## **Investments and Cash Balances (continued)**
There was no change in the content of the Trust's investment portfolio during 2021. The market value of the holdings has increased by £274K. With an income yield of about 3%, the total return was therefore just less than 17%.
CCLA, our investment managers and advisers, have a benchmark of achieving an inflation (RPI) adjusted return of an average of 5% pa over the business cycle (say 5-7 years); and also measure their performance against a composite comparator index.
The Trust's cash balances increased over the year by £217K (2020 increase of £162K).
## **Reserves**
The Trust's reserves increased by £497K (2020: increase of £295K) to £ 3,108K.
The Trust had, at 31 December 2021, committed £816K in grants over the next 2 years (see Note 9). In addition, further commitments have been made since the year end.
The Trustees wish to see the level of the Trust's support increase over the next few years, and to be in a position to meet such requests as are considered worthy of support. The fundraising strategy referred to above is a key element in achieving this objective. This includes the welfare objective of the Trust, given an increasing emphasis on breed rescue, in addition to general welfare groups, and the welfare of dogs caught up in international conflict zones.
In the context of the Trust’s future grant commitments and its aspirations, the Trustees seek to hold an amount of at least two years' future grants in reserves. As at 31 December 2021, reserves represented significantly greater than this level and the Trustees will be reviewing this area over the coming year, including being informed by Kennel Club strategy in health and welfare.
## **Risks**
The Trustees have considered the major risks to which the Trust may be exposed and concluded that they have in place controls which could reasonably be expected to manage and control (but not eliminate) those risks, and thus protect the financial and reputational standing of the Trust.
## **Grant making policy**
All applications are fully considered by the Trustees against specific criteria and with the support of specialist advice where appropriate. The latter includes peer review of substantial scientific applications. Grants are approved by the Trustees collectively. Generally, applications purely for building costs, or requests from individuals or from organisations whose concern is not predominantly with the dog do not receive favourable attention.
The Trust's work is advertised through the Kennel Club website, in the Kennel Club Journal and by direct contact with individuals, societies and universities, as well as in the Directory of Grant Making Trusts and other listings of charities.
Furthermore, the Trustees are continuing their attempts to develop wider publicity programmes, including at Crufts, in order to bring the Trust's activities to a wider audience, of both benefactors and applicants for the Trust's funding.
## **Recruitment, induction and training of Trustees**
The policy for recruitment of new Trustees is to consider nominations from the existing Trustees and from the Board of the Kennel Club Limited. Induction and training are conducted by encouraging a potential Trustee to attend a “trial” meeting of the Trustees, and by providing copies of the Trust Deed, the latest accounts and Minutes, and the Charity Commission's booklet “The Essential Trustee”. Where the individual is inexperienced in the role of being a Trustee, one-on-one training may be provided.
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## **THE KENNEL CLUB CHARITABLE TRUST TRUSTEES' REPORT YEAR ENDED 31 DECEMBER 2021**
## **Public Benefit**
The Trustees are fully aware of the Charity Commission's requirements on the subject of public benefit.
The whole purpose of the Trust is to improve the health and welfare of dogs, and to provide healthy and trained canine companions to human beings.
The Trust accepts grant applications across a broad base and within the Objects of the charity. It operates an open process, assessing applications on the basis of credibility of the applicant, the assessed efficiency of the proposed object for support, and the likely ability of the recipient to fund themselves on a continuing basis.
The list of grants in Note 2 to the accounts indicates the institutions supported, and Press Releases expand on some of these case studies.
The Trustees believe that the Trust clearly provides a public benefit, without discrimination, and that each of its Objects incorporates this feature in positive terms.
## **Thanks**
The Trustees wish to thank Her Majesty The Queen for her continuing interest and support; Sir John Spurling for his encouragement and expertise in his role as Vice-President; the Trust's Ambassadors; all donors and all the recipients of our grants who work for the benefit of dogs and their health and welfare.
On behalf of the Trustees:
Mrs J Millard
Date 7 December 2023
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## **THE KENNEL CLUB CHARITABLE TRUST STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102.
Charity law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for the period.
In preparing those financial statements the Trustees are required to:
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019;
- make judgments and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and regulations made thereunder. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **THE KENNEL CLUB CHARITABLE TRUST INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE KENNEL CLUB CHARITABLE TRUST**
## **Opinion on the financial statements**
In our opinion, the financial statements:
- give a true and fair view of the state of the Charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
We have audited the financial statements of The Kennel Club Charitable Trust (“the Charity”) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## **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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## _Independence_
We remain independent of the Charity in accordance with the ethical requirements 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.
## **Conclusions related 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 Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Report and Financial Statements, 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements 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.
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## **THE KENNEL CLUB CHARITABLE TRUST INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF**
## **THE KENNEL CLUB CHARITABLE TRUST (continued)**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion;
- the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is inconsistent in any material respect with the financial statements; or
- adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
## _Extent to which the audit was capable of detecting irregularities, including fraud_
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
_Non-compliance with laws and regulations_
## Based on:
- Our understanding of the Charity and the sector in which it operates;
- Discussion with management and those charged with governance; and
- Obtaining and understanding of the Charity’s policies and procedures regarding compliance with laws and regulations.
We considered the significant laws and regulations to be The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006, the Charities Act 2011, Corporate and VAT legislation, Health and Safety and the Bribery Act 2010.
The Charity is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the health and safety legislation.
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## **THE KENNEL CLUB CHARITABLE TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF**
## **THE KENNEL CLUB CHARITABLE TRUST (continued)**
Our procedures in respect of the above included:
- Review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
- Review of correspondence with regulatory and tax authorities for any instances of non-compliance with laws and regulations;
- Review of financial statement disclosures and agreeing to supporting documentation; and
- Review of legal expenditure accounts to understand the nature of expenditure incurred.
_Fraud_
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:
- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- Obtaining an understanding of the Charity’s policies and procedures relating to:
- Detecting and responding to the risks of fraud; and
- `o` Internal controls established to mitigate risks related to fraud.
- Review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;
- Discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be revenue recognition and management override of controls.
Our procedures in respect of the above included:
- Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;
- Reviewing a sample of revenue transactions for evidence of whether the revenue has been recognised correctly;
- Assessing significant estimates made by management for bias; and
- Incorporating an element of unpredictability in our testing.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:
https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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## **THE KENNEL CLUB CHARITABLE TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF**
## **THE KENNEL CLUB CHARITABLE TRUST (continued)**
## **Use of our report**
This report is made solely to the Charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s trustees 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 Charity and the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Philip Cliftlands (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor BDO LLP, statutory auditor London, UK Date 08 December 2023
BDO LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
- 11
## **THE KENNEL CLUB CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021**
|**Notes**
**2021**
**Unrestricted**
**£**
**INCOME**
Donations received
Donations in kind
Costs borne by the Kennel Club
3
710,989
67,545
Deposit interest
-
Interest and dividends
on investments
56,685
835,219
**EXPENDITURE**
**Charitable expenditure**
Promotional costs borne
by the Kennel Club
3
67,545
Fundraising
Scientific and Research
project support
2
122,224
268,053
Other Grants made
2
23,534
**TOTAL EXPENDITURE**
481,356
Unrealised gain on investment assets
4
260,191
**NET SURPLUS**
**FOR THE YEAR**
614,054
Fund balances at 1 January 2021
1,921,366
**at 31 December 2021**
2,535,420|**2021**
**Restricted**
**£**
74,063
-
-
-
74,063
-
-
134,500
70,000
204,500
13,694
(116,743)
689,307
572,564|**2021**
**Total**
**£**
785,052
67,545
-
56,685
909,282
67,545
122,224
402,553
93,534
685,856
273,885
497,311
2,610,673
3,107,984|2020
Total
£
775,560
67,545
31
56,097|
|---|---|---|---|
||||899,233|
||||67,545
31,080
209,714
412,366|
||||720,705|
||||116,060
294,588|
||||2,316,085|
||||2,610,673|
All amounts arise from continuing activities.
All gains and losses in the year are included in the Statement of Financial Activities.
The notes on pages 14 to 21 form part of these accounts.
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## **THE KENNEL CLUB CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2021**
|**FIXED ASSETS**
Investments
**CURRENT ASSETS**
Debtors and accrued income
Cash at bank and on short
term deposit
**CURRENT LIABILITIES**
Creditors
**NET CURRENT ASSETS**
**NET ASSETS**
**UNRESTRICTED ACCUMULATED**
**RESTRICTED FUNDS**|**Notes**
4
6
5
**FUND**
7|**£**
14,481
888,876|**2021**
**£**
2,204,627
903,357
-
903,357
3,107,984
2,535,420
572,564
3,107,984|2020
£
£
1,930,742
13,898
672,283
686,181
(6,250)
679,931
2,610,673
1,921,366
689,307
2,610,673|
|---|---|---|---|---|
||||||
These accounts have been prepared in accordance with the special provisions relating to small entities regime in accordance with the provisions of FRS102 Section 1A - Small Entities.
The notes on pages 14 to 21 form part of these accounts.
The financial statements on pages 12 to 21 were approved and authorised for issue by the Trustees and signed on their behalf on 7 December 2023 by:
Mrs J Millard
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## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021**
## **1 ACCOUNTING POLICIES**
## **(a) Basis of accounting**
The entity is a trust established in England at 10 Clarges Street, London W1J 8AB. The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, including the October 2019 amendments.
The financial statements have been prepared under the historical cost convention. The accounts of the Charity have been prepared on a going concern basis. The Charity meets the definition of a public benefit entity under FRS 102.
A summary of the accounting policies, which have been applied consistently, is set out below.
## **(b) Critical accounting judgements and estimations**
In preparing the financial statements, the trustees are required to make estimates and judgements. The items in the financial statements where these judgments and estimates have been made include:
(i) Accruals - The estimate for payables relates to the liabilities not settled at the year end. A review is performed on an individual creditor basis to estimate the amount will be collected.
## **(c) Cash flow statement**
As a qualifying entity (for the purposes of FRS 102 Section 1A Small Entities), the charitable entity has taken advantage of the reduced disclosure framework exemption from requirement to prepare a statement of cash flows.
## **(d)**
## **Donations and legacies**
Donations are accounted for as soon as there is an entitlement and the amount is measurable and receipt probable.
A donation in kind was received during the year from The Kennel Club amounting to £67,645 (2020) £67,545). Donated services are recognised when the benefit to the charity is reasonably quantifiable. The value placed on these resources is the estimated value to the charity of the service received.
## **(e) Investments and investment income**
Investments are included at market value as required by the Statement of Recommended Practice. Unrealised gains or losses on revaluation are included in the Statement of Financial Activities. Investment income is included on an accruals basis.
The Trust's investments are represented by units in CCLA's general investment fund. Any charges form part of the movement in the price of those units.
## **(f)**
## **Research project support and grants made**
Research project support and grants made are charged to expenditure when performance conditions are met and payment is approved. Where grants are expected to span more than one year, subsequent years' awards are subject to conditions (for example, the requirement for progress reports to be presented to the Trustees) and are shown as Commitments (see Note 9).
## **(g) Employees**
There were no employees during the year (2020 - Nil).
- **(h)**
## **Cash and cash equivalents**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a maturity of three months, from the date of acquisition, or less and bank overdrafts. All cash and short-term deposits are basic instruments and are measured at amortised cost.
## **(i) Debtors**
Trade and other debtors are recognised at the settlement amount.
## **(j)**
## **Financial instruments**
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 DECEMBER 2021** _**(continued)**_
|**2**
**DIRECT CHARITABLE EXPENDITURE**
**Payments from unrestricted funds**
Animal Health Trust - KC Genetics Centre
Animal Health Trust
Royal Veterinary College
Roslin Institute
University of Cambridge
University of Birmingham
University of Glasgow
University of Edinburgh
|**2021**
**£**
-
-
96,448
-
157,512
-
-
14,093
268,053|**2020**
**£**
69,000
9,000
93,838
-
24,876
3,000
10,000
-
209,714|
|---|---|---|
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## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021** _**(continued)**_
|**2**
**DIRECT CHARITABLE EXPENDITURE (CONTINUED)**
**Payments from unrestricted funds**
_Educational and other grants_
Angels Small Paws Dog Rescue
Association of Dogs and Cats homes
Autism_at_Kingwood
British Veterinary Nurses Association
Cathryn Mellersh
Charge University of Pennsylvania
Committed giving
Dane Care Charitable Trust
Douge de Bordeaux Welfare
Friends for Life
Garbo's GSD Rescue
Geordie Bullies Springboard Rescue
Gordon Brothers International LLC
Great Dane Care Charitable Trust
Greyhound Gap
H R H Logistics Ltd
Innov8ive Software (Anilog)
K9 Rescue Remedy
Lancashire German Shepherd Rescue
Mrs D Rennie - PDSA
North Clwyd Animal Rescue
Our Special Friends Lts
PDSA
Pet Food Bank Service
Pet Fostering Service Scotland
Phoenix Enterprises (swindon) Ltd
Refuge4Pets
Rain Rescue
Rotherm Dog Rescue
Samfundet Folkhalsan
Special Boat Services Association
Teckels Animal Sanctuaries
Three Counties Dog Rescue
Wageningen Livestock Research
West of England CKCS Club Welfare
Young Gloucestershire|**2021**
**£**
-
4,200
9,300
-
459
-
48
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,000
44
-
-
-
-
-
-
-
-
-
-
4,483
-
-
23,534|**2020**
**£**
3,000
-
9,300
6,000
1,689
37,003
-
3,000
1,500
9,000
3,000
3,000
10,871
5,000
27,500
1,980
9,310
2,000
1,500
146
5,000
5,000
21,916
5,000
5,000
3,024
5,000
5,000
3,000
5,000
5,000
3,000
3,000
4,227
2,000
20,900
235,866|
|---|---|---|
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## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021** _**(continued)**_
|**2**
**DIRECT CHARITABLE EXPENDITURE (CONTINUED)**
**Payments from restricted funds**
Scientific and Research project support
International Canine Health Awards
Emergency award Payment
KC Genetics Centre
Educational and other grants
**Summary**
_Unrestricted:_
Scientific and research project support
Educational and other grants
_Restricted:_
Scientific and research project support
Emergency Award payment
KC Genetics Centre|**2021**
**£**
70,000
-
134,500
204,500
-
204,500|**2020**
**£**
61,000
48,000
67,500
176,500
-
176,500|
|---|---|---|
||268,053
23,534|209,714
235,866|
||291,587|445,580|
||70,000
-
134,500|61,000
48,000
67,500|
||204,500
496,087|176,500
622,080|
- 17 -
## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 DECEMBER 2021** _**(continued)**_
## **3 DONATIONS IN KIND**
The following donations in kind were received free of charge:
- The Kennel Club Limited provides Trustees' indemnity insurance at a cost of £2,500 (2020 - £2,500);
- The Kennel Club Limited pays for the annual audit of the Kennel Club Charitable Trust, costing £1,500 (2020 - £1,500);
- The Kennel Club Limited provides support for marketing, fundraising and administrative activities, estimated at a cost of £67,545 (2020 - £67,545); and
- The Kennel Club Limited paid expenses of the Trustees amounting to approximately £0 (2020: £0).
Donations in kind have been accounted for in the Statement of Financial Activities.
## **4**
|**INVESTMENTS**
**Quoted investments**
**At market value:**
At 1 January
Unrealised gain
Disposal
At 31 December
Historical cost at 31 December|**2021**
**£**
1,930,742
273,885
-
2,204,627
1,087,837|2020
£
1,814,682
116,060
-|
|---|---|---|
|||1,930,742|
|||1,087,837|
At 31 December 2021, investments comprised 107,196 Charities Investment Fund Income Units (2020 – 107,196).
## **5 CASH AT BANK AND ON SHORT TERM DEPOSIT**
The Trust's cash reserves were invested as follows:
|The Trust's cash reserves were invested as follows:|||
|---|---|---|
|Current account with Barclays Bank
Current account with Clydesdale Bank
Deposit account with Metrobank
Deposit account with Metrobank
At 31 December|**2021**
**£**
740,170
24
148,585
97
888,876|2020
£
597,641
24
74,522
96|
|||672,283|
- 18 -
## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021** _**(continued)**_
## **6 DEBTORS AND ACCRUED INCOME**
Bank interest and investment income receivable
|**2021**
**£**
14,481|2020
£
13,898|
|---|---|
|**7**
**RESTRICTED FUNDS**
At
1 January
2020
Educational & Other
£
International Canine
Health Awards
12,061
Ormandy Trust for
Bull Terriers
72,453
Other
34,803
Canine Activities
38,422
AHT
303,750
Griffon Bruxellois
3,000
The National Gundog Assoc
248
VirginMoney (Restricted)
Donr Ltd
The British Chihuahua Appeal
Our Dogs Publish J Shaw
Anna Szabo
Lesley Field Essc (Ring Fenced)
King Charles Spaniel Club (Restricted)
The Kennel Club (BOAS)
Mason & Davies
Total
464,737
At
1 January
2021
£
Educational & Other
International Canine
Health Awards
25,582
Ormandy Trust for
Bull Terriers
72,453
Unrealised gain
-
Other
36,337
Canine Activities
38,422
AHT
236,250
Griffon Bruxellois
3,000
The National Gundog Assoc
248
VirginMoney
15
King Charles Spaniel Club
7,000
The Kennel Club (BOAS)
269,000
Mason & Davies
1,000
Total
689,307|**7**
**RESTRICTED FUNDS**
At
1 January
2020
Educational & Other
£
International Canine
Health Awards
12,061
Ormandy Trust for
Bull Terriers
72,453
Other
34,803
Canine Activities
38,422
AHT
303,750
Griffon Bruxellois
3,000
The National Gundog Assoc
248
VirginMoney (Restricted)
Donr Ltd
The British Chihuahua Appeal
Our Dogs Publish J Shaw
Anna Szabo
Lesley Field Essc (Ring Fenced)
King Charles Spaniel Club (Restricted)
The Kennel Club (BOAS)
Mason & Davies
Total
464,737
At
1 January
2021
£
Educational & Other
International Canine
Health Awards
25,582
Ormandy Trust for
Bull Terriers
72,453
Unrealised gain
-
Other
36,337
Canine Activities
38,422
AHT
236,250
Griffon Bruxellois
3,000
The National Gundog Assoc
248
VirginMoney
15
King Charles Spaniel Club
7,000
The Kennel Club (BOAS)
269,000
Mason & Davies
1,000
Total
689,307|Incoming
resources
£
74,521
5,749
136
35,000
5,000
1,500
630
7,000
269,000
1,000
399,536
Incoming
resources
£
74,063
74,063|Unrealised
gain on
investment
asset
£
1,534
1,534
Unrealised
gain on
investment
asset
£
13,694
13,694|Resources
expended
£
61,000
67,500
5,734
136
35,000
5,000
1,500
630
176,500
Resources
expended
£
70,000
134,500
204,500|Transfers 31 December
£
2020
25,582
72,453
36,337
38,422
236,250
3,000
248
15
-
-
-
-
-
7,000
269,000
1,000
-
689,307
Transfers
31 December
£
2021
29,645
72,453
13,694
36,337
38,422
236,250
3,000
248
15
7,000
134,500
1,000
-
572,564|
|---|---|---|---|---|---|
||689,307|||||
- 19 -
## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021**
## **7 RESTRICTED FUNDS (continued)**
In 2012, the Trustees of the Ormandy Trust transferred the balance of their funds to the Charitable Trust, to be used for the benefit of the Bull Terrier and Miniature Bull Terrier breeds. No grants were made from this restricted fund to date, although discussions have been held and await the identification of animals affected by a particular condition.
The Charitable Trust administered and awarded prizes for scientific research into the health of dogs for the ninth time in 2021. Funding for these International Canine Health Awards was again provided by Vernon and Shirley Hill Foundation. Awards were made to
Dr Dan O’Neill
Professor Andrea Tipold Yan Hui Lee Eleanor Wilson Dr Samantha Goldberg AMRRIC (Animal Management in Rural and Remote Indigenous Communities)
“Other” Funds represent ring fenced breed specific donations and also donations made specifically for applications to welfare purposes. The balances at 31 December 2021 represent:
|Irish Setters
Wire Fox Terriers
English Springer Spaniels
Donations received and unspent re the Trust's welfare object
BSDTC
Dachshund Rescue
Medical Research
Unrealised gain on investment|**£**
7,049
3,436
1,879
6,754
304
1,000
618
15,297
36,337|
|---|---|
- 20 -
## **THE KENNEL CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021**
## **8 ANALYSIS OF ASSETS AND LIABILITIES BETWEEN FUNDS**
|**Unrestricted**
**£**
Investments
2,204,627
Cash at bank and on short term deposit
316,312
Debtors and accrued income
14,481
Creditors
-
**2,535,420**|**Restricted**
**£**
-
572,564
-
-
**572,564**|**Total**
**£**
2,204,627
888,876
14,481
-
**3,107,984**|
|---|---|---|
## **9 CHARITABLE COMMITMENTS**
At the date of these financial statements the Trust has committed, subject to conditions to be fulfilled by the recipient organisations, to make the following charitable donations:
|||||**From unrestricted**|
|---|---|---|---|---|
|||||**funds**|
|||||**£**|
|Year to|31|December|||
||||2022|550,708|
||||2023|264,988|
|||||**815,696**|
These commitments are primarily in respect of scientific and research project support.
## **10 RELATED PARTY TRANSACTIONS**
The Trustees received no remuneration in connection with their duties during the year. Trustees' expenses are borne by The Kennel Club Limited.
Apart from transactions with The Kennel Club Limited, as disclosed in these financial statements, there were no related party transactions, as defined in Financial Reporting Standard 102.
- 21 -