REGISTERED CHARITY NUMBER: 503759
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
RSPCA RADCLIFFE SHELTER TRUST
Duncan & Toplis Limited, Statutory Auditor 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR
RSPCA RADCLIFFE SHELTER TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 9 |
| Report of the Independent Auditors | 10 to 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Cash Flow Statement | 15 |
| Notes to the Cash Flow Statement | 16 |
| Notes to the Financial Statements | 17 to 28 |
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the audited financial statements of RSPCA Radcliffe Shelter Trust (the charity) for the ended 31 December 2022. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the 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 (FRS102) (effective 1 January 2019).
Overview of 2022
2022 saw an increase in animals entering our care. Multi animal cases were boarded on behalf of the Inspectorate, with one case involving over 70 dogs, of which Radcliffe Animal Centre provided care for 50.
Post pandemic concerns combined with the cost-of-living crisis, became a harsh reality and all animal accommodation was filled to capacity. Many animals were relinquished due to owners being unable to afford vet bills, changes to working hours and family circumstances, loss of housing and employment. Increased abandonments were reported nationally. To deter people from abandoning animals it is imperative we continue to offer help and advice to the public, in an accessible and non-judgemental manner. We continue to provide as much support as we can, offering reduced cost neutering and working alongside local foodbanks.
Animals are spending longer at the centre due to the need for rehabilitation, for health issues and behaviour problems. Veterinary treatment, longer stays and increased animal numbers, inevitably have a cost implication for us, all the more challenging as we try to meet our own day to day running costs amidst rising inflation. Continued efforts are placed on income generation, and we are committed to building and promoting a strong and positive reputation, both in person and through social media platforms.
Our educational work post pandemic is thriving once again, and we are proud to work within our community to provide animal welfare information and visits for local schools and groups. A number of our video productions were requested for use by the national RSPCA educational and media departments.
Recruitment and training of Animal Care Apprentices was able to restart post pandemic, helping to ensure we are able to fill future vacancies with appropriately skilled and trained employees. The centre manager has been awarded an Honorary Doctorate by the University of Nottingham, in recognition of her contributions to charitable work. She has also completed a Master of Science degree in Clinical Animal Behaviour at the University of Lincoln, meaning the centre can provide expertise in behaviour alongside the expertise of the veterinary team. This will ensure staff are appropriately guided and animals and adopters are provided with the support they need. The centre is now in a more professional position to justify decisions associated with rehoming and the implementation of training programmes with due regard to animal welfare, risk and liability.
Undoubtedly, we face a tough time ahead. We remain confident however, that our centre has the infrastructure to support these future challenges, continuing to assist the local community, our local branches and the national RSPCA.
More information about the work of Radcliffe Animal Centre and its facilities can be found on the following video link: Welcome to Radcliffe Animal Centre - RSPCA Radcliffe Animal Centre (rspca-radcliffe.org.uk).
Rehoming numbers 2022 = total of 673
Dogs 182
Cats 442
Rabbits 45
Other 4
Long term boarding of case animals impacts rehoming number.
Page 1
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES AND ACTIVITIES
Policies & Objectives
The Trust operates within a national network pursuing the same objectives as the Royal Society for the Prevention of Cruelty to Animals.
Whilst being a self-funding independent charity, the Trust operates utilising a licence issued by the National Society of the RSPCA and as such the Trust adheres to the animal welfare policies of the RSPCA.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. In particular, the Trustees consider how planned activities will contribute to the aim and objectives they have set.
The animal accommodation can house 92 dogs, 90 cats and 8 rabbits. Animals of a domestic nature are offered for adoption to suitable members of the public. The Shelter does not normally care for wild animals; these animals are passed onto specialist carers. Provided space is available, no animal is ever turned away from the Shelter, where they can be assured of clean, well-maintained accommodation, will be well fed, will be provided with veterinary care, and where they will be looked after by dedicated staff of around 25 people and regular volunteers. No animals are euthanised unless unsuitable for rehoming or due to health or behavioural problems which make them unadoptable.
Animals are placed in the care of Radcliffe Shelter by members of the public, local RSPCA Branches and by the Society's own Inspectorate.
Strategies for achieving objectives
All staff attend regular appropriate training courses including NVQ qualifications. Specialist courses for managers and supervisors and also dog behavioural training are included. With this in mind we strive to achieve the best care and the best results for animals in our care.
As a major source of income is provided by legacies from our donors, additional effort will be made to make our need for these legacies more widely known.
FINANCIAL REVIEW
Financial position
Total incoming resources for the year were £553,183 (2021: £676,045), including legacies of £168,020 (2021: £174,274). Expenditure was £703,306 (2021: £791,427). Net losses on investments totalled £132,082 (2021: Gain £124,980), resulting in a net loss for the year of £282,205 (2021: Gain £9,598)
The 2022 budget allowed for incoming resources of £552,170, and expenditure of £707,650, with a net budgeted deficit (excluding loss on investments) of £155,480. When excluding unrealised losses on investments of £140,842, which are not budgeted for, the charity's actual deficit was £141,138, which was £14,342 less than the budgeted deficit, which was a pleasing result.
Investment policy and performance
The Trust employs Brewin Dolphin to manage all investments on a discretionary basis. Brewin Dolphin will manage the portfolio through making investments on a low to medium risk basis. All investment purchases and sales are notified by Brewin Dolphin to the Trustees and the Trustees have online reporting access to the portfolio.
The fund made a net loss of £132,082 (2021: Gain £124,980).
Page 2
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
FINANCIAL REVIEW
Reserves
At the end of the year, the Trust held an accumulated fund of £3,710,343 (2021: £3,992,548).
The Trustees have reviewed the Trust's reserves policy and agreed the following:
-The Trust holds reserves in order that levels of service provided for animal welfare may be maintained should there be a reduction in incoming resources. This should be equivalent to 12 -18 months expenditure.
-Reserves in this context should mean funds that are freely available for the Trust's general purposes after all commitments have been met.
The Trustees therefore agree that tangible fixed assets such as property and equipment, together with any restricted funds, should be excluded from the calculation of general reserves.
| Total reserves Less: Tangible fixed assets Less: Intangible fixed assets |
2022 £ 3,710,343 (2,219,426) (200) 1,490,717 |
2021 £ 3,992,548 (2,276,823) (2,400) |
|---|---|---|
| 1,713,325 |
The Trust, therefore, held some £1,490,717 (2021: £1,713,325) in available funds at the year end. This represents approximately 25.4 months expenditure, based on 2022 levels of expenditure (2021: 26.0 months). This level of reserves exceeds the Trustees desired range of 12-18 months.
Included within the fixed assets total above is £217,550 (2021: £220,950) of restricted funds.
Cash levels:
| Cash in hand Notice Deposits (less than 3 months) |
2022 £ 174,357 30,857 205,214 |
2021 £ 296,328 37,038 |
|---|---|---|
| 333,366 |
Other Matters:
There are no other matters of significance to report. There were no changes to funding during 2022, nor are any changes planned for 2023.
Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that there are no known, or reasonably foreseeable, conditions or events, present or future, that raise any substantial doubt about the Trust's ability to continue as a going concern. The Trustees have considered the level of funds held, and the expected level of income and expenditure for the next 12 months, together with that of 2024, and the budgeted income and expenditure is sufficient, with the level of reserves, for the Trust to be able to continue as a going concern.
Page 3
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
PLANS FOR FUTURE PERIODS
Business planning
Large scale development of our rehoming, education and veterinary facilities completed in 2019.
Since then, both the Covid pandemic and the current cost of living crisis have skewed our income and expenditure.
Before any large scale future planning can occur, the true costs of running the Centre need to be established. following build completion. A "normal" year of income and expenditure this has not yet been achieved and 2022 is the first year in which we can start building an accurate picture of the costs to run a more modern but larger building and an expanded veterinary suite. Planning for future years is currently in its early stages of establishing and prioritising goals, such as achieving CIO status and continual income generation.
Future Developments
The Charity's budget predicts levels of legacy income for the forthcoming year, and is based on previous years' experience. Income from legacies will continue to be a variable source of income to the Charity.
The budget for 2023 shows a deficit of £284,150 (before any investment losses or gains) which will reduce further the reserves of the Charity in the absence of legacy income.
The Trust is continually looking to increase the income and reduce the likelihood of a deficit being incurred thereby prolonging the Charity's ability to use reserves held for the furtherance of its objects.
The Trustees have carefully considered the future plans for the shelter.
Allowing for the volatility and uncertainty of legacy income, an improved income stream is essential.
To this end work has been carried out in 2022 continuing to focus on more effective use of social media and other internet based forms of income generation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The principal object of the charity is to use the freehold property for the reception, boarding and adoption of unwanted, lost, starving, injured or diseased animals, for the promotion of kindness, and prevention or suppression of cruelty to animals.
The trust is an unincorporated trust, constituted under a trust deed dated 26 September 1973, and amended by agreements dated 30 December 1991, 13 December 1993 and 16 May 1994.
Method of Appointment or Election of Trustees
The trust is administered by the Trustees who are nominated representatives from the Nottinghamshire branches of RSPCA, although the power to appoint them remains with the National RSPCA Board. Each appointment is for a term of four years.
Page 4
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The Board of Trustees consisted of the following members as at 31 December 2022.
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David Carter
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Suzie Etridge
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David Evans
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Roy Taylor (to 28 February 2023)
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Michael Tomlinson
At the date of signing these accounts the Trustees were as follows:
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Stephen Buckman (from 22 March 2023)
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David Carter
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Suzie Etridge
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David Evans
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Michael Tomlinson
By Deed of Agreement dated 16 May 1994 the Trust Deed was varied to give powers for the appointment of a Management Committee for the Shelter. It has been agreed that the role of the Management Committee be suspended, and replaced by a full meeting of the Trustees on a monthly basis.
Day to day administration of the animal shelter is delegated to the Animal Centre Manager.
Employees are consulted on issues of concern to them by means of regular staff meetings, and are kept informed directly by the management, on specific matters. There is a full programme of regular staff training for NVQ and other training programmes.
Policies Adopted for the Induction and Training of Trustees
Prospective Trustees are invited to attend a Trustees meeting prior to appointment. Upon appointment they are provided with a set of the Trust Deed and attached agreements, together with a copy of the previous year's audited accounts. These are then later discussed in a one to one meeting. Any further training required is considered at the appropriate time.
For new Trustees, attention is drawn to the Charity Commission document "The essential trustee: what you need to know, what you need to do (CC3)".
Pay Policy for Senior Staff
Remuneration and benefits of all the charity's personnel (including the key management personnel) are set in line with other comparable large animal rehoming centres and take into account the level of skills and experience required, responsibility given, and the rate of inflation. In particular, reference will be made to the most recent salary surveys and salaries paid by other local charities in the same field and of equivalent size. The Centre Manager's level of remuneration is set and agreed by the Trustees, all other positions are set by the Centre Manager and agreed by the Trustees.
Should the post of Centre Manager become vacant it will be advertised throughout the RSPCA and externally via the Trust's website.
All the trustees give freely of their time, and no trustee received remuneration for their work for the charity in the year, other than the reimbursement of expenses.
Page 5
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Principal Risks and Uncertainties
Uncertain economic outlook.
World events still impact the investments held by the Trust. To ensure best advice, Brewin Dolphin are employed as our professional advisers to mitigate any loss of investment value.
On a world stage global growth forecasts have continued to be taken lower with the impact on investments being considered by the Trustees.
A large number of animals have been taken into the Centre as a result of enforcement action by the National Society's Inspectorate. These animals cannot be rehomed until the judicial proceedings are completed, sometimes taking in excess of six months. This leads to a significant drop in animals available for rehoming and a subsequent decrease in adoption fees through 2022.
Post Covid, many animals purchased during the crisis will became unwanted. It was inevitable that rescue centres would fill up and the costs of caring for the increase will impact funding.
To maximise adoptions the Trust must ensure that it is at forefront of adopter's minds as opposed to any of our competitors.
Injury to Member of the Public or Staff
All Health and Safety risk assessments and training is in place to reduce any potential occurrence.
Risk to IT systems
All essential IT systems have now been moved to "cloud" service providers who are responsible for the security and availability of the Trust's information. In addition to this, The Trust continues to contract a professional IT support company to ensure continuity of service. With the rapid advance of technology, we will maintain our efforts to take advantage of this advancement and reduce costs while providing a more effective service.
Failure to Effectively Manage Projects
No further large scale projects are currently planned, although over the next few years the refurbishment of the kennels is still under consideration.
Post Covid
The rehoming measures put in place where a remote system of matching animals to owners has proved to have longer lasting advantages to the running of the Centre.
The method in which we rehome animals continues to be appraised.
We are continuing to see animals needing to stay longer as those animals brought into us by Inspectors are often those needing veterinary treatment and extensive rehabilitation. The average cost per animal has therefore continued to rise in terms of boarding costs and provision of treatment.
The loss of footfall has impacted in our ability to collect donations from people visiting our centre and seeing first hand our work.
We will continue to refine our offering to encourage online donating.
Adoption numbers are down because of restricted intake and remote adoption processes although those animals coming into us are being successfully rehomed. With this in mind adoption income decreased. As our supporters have had to move online for their normal everyday life, there is optimism that our adoption model is becoming accepted by our adopters.
As the situation becomes more normal, staffing may have to increase. As the Centre trains its own apprentices, it is not believed that sourcing appropriate personnel will be a problem.
The animal centre has continued to provide support to the national society, the veterinary industry and the general public by providing a neutering service to assist with a potential kitten crisis. For some of the general public access to veterinary services still poses a problem.
Page 6
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Fundraising
As the Trust has no area allocated to it by the National RSPCA, traditional fundraising activities e.g. flag days, door to door collections are not available to the Trust.
Our focus therefore is to encourage donors to donate directly to the Trust.
Over the last year our new website and social media presence continues to increase awareness in the general public that The Radcliffe Shelter Trust is a self-funding organisation.
The charity subscribes to the Code of Fundraising Practice in all of its fundraising activities. Every person involved in fundraising for the charity, is trained and inducted on the expectations as set out in the code of practice. We comply with all the GDPR legal requirements regarding donors' or fundraisers' personal data. No third-party organisations or consultants were used for raising funds for the charity. There have been no breaches or complaints received with the application of this code and GDPR regulations in the reporting period.
As with most charities, a large portion of our income is still in the form of legacies.
In the past donors could have left a legacy to the RSPCA with the expectation that some of these funds would filter down to the Trust. We continue to make information available to ensure the general public are aware that the Trust is an independent charity relying entirely on donations made directly to the Trust. It is difficult to accurately assess if this has led to an increase in legacy donations, but it is noted that incoming legacy income has risen over the last two years. This may be coincidental.
The Trust receives significant amounts of assistance in the form of volunteering both by individuals and corporate organisations for which we are extremely grateful.
We are grateful for the involvement of our volunteers and supporters.
Whilst this assistance is invaluable to the Trust, it is not possible to value in monetary terms the extent of this assistance and accordingly, the intangible income is not included.
Income Generation
The Statement of Financial Activities for the year is set out on page 13 of the financial statements.
A summary of the financial results and the work of the Charity is set out below.
The Charity's total income decreased by 18% from £676,045 in 2021 to £553,183 in the year ended 31 December 2022.
Donations and gifts received during the year amounted to £82,414 in comparison to £156,553 received during 2021 and shows continued support from various sections of society.
Income from legacies has continued to be a core but variable source of income to the Charity. This year has seen an decrease in legacy income in comparison to 2021. The Charity's financial statements for the year include legacy income of £168,020 received during 2022 compared to £174,274 received during 2021.
Whilst in 2022, legacies to the Trust again exceeded budget expectations, the Trustees are aware that we cannot depend on legacies and will have to build a business plan on that basis.
Charitable expenditure in relation to the reception, boarding and care of animals at a cost of £690,918 (2021 - £777,590) continues to be a significant part of the Charity's overall expenditure.
Risk management
The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trust has a low to medium risk return policy on its investment portfolio. The investments are managed by Brewin Dolphin. The management of the portfolio is on the basis of regulations detailed in the RSPCA Act 1958 and the Trustees have given the investment managers discretion to manage the portfolio within the agreed risk profile.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
503759
Page 7
RSPCA RADCLIFFE SHELTER TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Principal address 32 Nottingham Road Radcliffe on Trent Nottingham Nottinghamshire NG12 2DW
Trustees
S Buckman (appointed 22.3.23) D Carter S Etridge D Evans R Taylor (resigned 28.2.23) M Tomlinson
Auditors
Duncan & Toplis Limited, Statutory Auditor 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR
Bankers
Lloyds Bank Plc Old Market Square Nottingham Nottinghamshire NG1 6FD
Investment Advisors
Brewin Dolphin 1st Floor Waterfront House Waterfront Plaza 33 Station Street Nottingham NG2 3DQ
Senior management team
Ella Carpenter, Animal Centre Manager
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
REI¥)RTOFIHETRiISIEES FOR DIE YEAREI4DEOJIDECEM8ER2022 ApprO¥ed by OTder ofthe b03fd of tluStee5 on7Seprember 2023 andsiEDed on ItSbeha ty. Pa8e9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RSPCA RADCLIFFE SHELTER TRUST
Opinion
We have audited the financial statements of RSPCA Radcliffe Shelter Trust (the 'charity') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 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 Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which 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.
Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RSPCA RADCLIFFE SHELTER TRUST
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Trustees and other key management obtained as part of the work required by auditing standards. We have also discussed with the Trustees and other key management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit. The potential impact of different laws and regulations varies considerably.
Firstly, the charity is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as the depreciation charge, as well as the risk of inappropriate journal entries to manipulate reported surplus/deficit. Audit procedures performed by the engagement team included the identification and testing of unusual material journal entries and challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on material accounting estimates, including reviewing the methods and data used by management to make those estimates, re-performing the calculation and reviewing the outcome of prior year estimates.
Secondly, the charity is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Animal Welfare Act 2006, Safeguarding and Health and Safety regulations, Employment laws and Fundraising regulations. The charity is subject to regular internal and external audits to ensure compliance with these areas.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other key management and inspection. This inspection included a review of the external audits conducted within the year for any evidence of non-compliance, reading minutes of meetings of those charged with governance, in addition to an assessment of the charity's formal risk assessment. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.
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. The further removed non-compliance with laws and regulations 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. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 11
REPORTOF THE INOEPENDENT AUDITORS TO THE TRUSTEE50F RSPCA MOCLIFFE SHELTER TRUST Use of Our report This repori is rnade solely to thè tharit¥'s trustees, 35 3 body. In accordance with Parl d ol the Chèritie5 (Attounts Reportsl ReeulatiDD5 21x18. Our audil w¢rk has been tsndertaken so ihat we might 5t3te to the tharity's trustees those matters we ale required lo state to them In an audiior5' report and for no other pvrptyse. To the lullest extent permitied by law. we do not accept or a55ume responsibility to anY(e oiher than the charily and the charity's trustees as a body, lor our audit work. lor this r2pDrt. or torthe opinions we havefortnEd Duntan & TDplls Limited. statutory Auditor 3 Princes Court Royal Way Loughborough LEII 5XR Oate.. Z4.1.DA Iz.o. L.?.... Duncan &Toplis is ell8ible to act a5 an audiror in term5 Of 5ECtion 1212 of the CompanlesAct 2006. Pa8e 12
RSPCA RADCLIFFE SHELTER TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 4 Charitable activities 7 Reception, boarding and care of stray animals Provision of education Other trading activities 5 Investment income 6 Other income 8 Total EXPENDITURE ON Raising funds 9 Charitable activities 10 Reception, boarding and care of stray animals Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 250,434 215,097 15,417 15,645 34,241 22,349 553,183 12,388 687,518 699,906 (132,082) (278,805) 2,571,598 2,292,793 |
Designated £ - - - - - - - - - - - - 1,200,000 1,200,000 |
Restricted fund £ - - - - - - - - 3,400 3,400 - (3,400) 220,950 217,550 |
2022 Total funds £ 250,434 215,097 15,417 15,645 34,241 22,349 553,183 12,388 690,918 703,306 (132,082) (282,205) 3,992,548 3,710,343 |
2021 Total funds £ 330,827 212,944 10,000 13,281 33,654 75,339 |
|---|---|---|---|---|---|
| 676,045 | |||||
| 13,837 777,590 |
|||||
| 791,427 | |||||
| 124,980 | |||||
| 9,598 3,982,950 |
|||||
| 3,992,548 |
The notes form part of these financial statements
Page 13
JI DECEMOER 202 Z022 Total funds 2021 Total fvnds unre&triCted fu Restfitted fund IntsnKitasJe¢s TanwblE a5SÈts 17 2OJ 2.(K)I,876 2171 1219.426 I,ISO.199 276,823 L286.Z99 19 1.350.iYJ 2,(Ill,076 I.199 217550 3,369M25 3.56521 CURRE1 A55ETS 7,345 176.869 7.345 176169 30S7 J74.357 6,354 131.734 37.038 296,328 Debtors Invostmènts Cash atbank?nd Inhand 21 30.857 18.944 155,413 339,627 389J2B 471A54 mnISfa]lILlrkn onEye¥ 23 {48.9101 144A2A} 2W.717 49Wi 427 292,79a LZOJ.O)J Z17.550 3.710343 294793 217,SS0 3.710.343 3.992.Y8 FUNDS Unr25trittEdfunds 24 3.492.793 217550 3.771,598 220.9SO ToTFulDs 3.710.343 3.992.548 The hnancLIl were 4pprtsy by thè Board olTrtsstses and3ulho<Med iwe on ?septenerI0I3ano were *ned itsbeh¥f bv.. OE¥as.TDjStee ThE$OrM partoftfiesefinantials1atemts Pa8e14
RSPCA RADCLIFFE SHELTER TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Sale of tangible fixed assets Sale of fixed asset investments Interest received Dividends received Net cash provided by/(used in) 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 £ (139,525) 7 (139,518) (26,893) (234,154) - 244,353 86 34,155 17,547 (121,971) 296,328 174,357 |
2021 £ 29,462 - 29,462 (3,506) (32,608) (50,597) 43,236 12 33,642 (9,821) 19,641 276,687 296,328 |
|---|---|---|
The notes form part of these financial statements
Page 15
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| 2022 £ Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) (282,205) Adjustments for: Depreciation charges 86,490 Losses/(gain) on investments 132,082 Loss on disposal of fixed assets - Interest received (86) Interest paid (7) Dividends received (34,155) Increase in stocks (991) Increase in debtors (45,135) Increase in creditors 4,482 Net cash (used in)/provided by operations (139,525) ANALYSIS OF CHANGES IN NET FUNDS At 1.1.22 Cash flow At £ £ Net cash Cash at bank and in hand 296,328 (121,971) 296,328 (121,971) Liquid resources Deposits included in cash - - Current asset investments 37,038 (6,181) 37,038 (6,181) Total 333,366 (128,152) |
2021 £ 9,598 80,703 (124,980) 101,194 (12) - (33,642) (1,562) (17,448) 15,611 29,462 31.12.22 £ 174,357 174,357 - 30,857 30,857 205,214 |
|---|---|
The notes form part of these financial statements
Page 16
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. GENERAL INFORMATION
RSPCA Radcliffe Shelter Trust is an unincorporated charity in England. The charity's registered number is 2503759.
The charity's principal address is 32 Nottingham Road, Radcliffe on Trent, Nottingham, NG12 2DW.
The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £.
The significant accounting policies applied in the preparation of these accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The financial statements cover the individual entity.
The entity constitutes a public benefit entity as defined by FRS 102.
There are no material uncertainties with going concern.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised 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 of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time is not recognised. Refer to the trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities 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 then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable the income will be received and the amount can be measured reliably and is not deferred.
continued...
Page 17
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. ACCOUNTING POLICIES - continued
Income
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.
Expenditure
Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Fundraising costs are those incurred in seeking voluntary contributionsand do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
All expenditure is inclusive of irrecoverable VAT.
Intangible assets and amortisation
Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website development - 20% per annum of cost
Property, plant and equipment
Property, plant and equipment costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Property, plant and equipment are initially recognised at cost. After recognition, under the cost model, property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring property, plant and equipment into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Impairment losses are recognised in the statement of financial activities.
Depreciation is charged so as to allocate the cost of property, plant and equipment less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
Freehold property - 2% per annum of cost Fixtures and fittings - 20% per annum of cost Computer equipment - 20% per annum of cost
continued...
Page 18
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. ACCOUNTING POLICIES - continued Property, plant and equipment
Change in accounting estimate
During the year to 31 December 2022 the charity changed the method of depreciating its fixtures & fittings from 25% on a reducing balance basis to 20% on a cost basis as the trustees decided this better reflects the useful economic lives of the fixtures & fittings owned by the charity.
The change in depreciation method is a change in accounting estimate and is accounted for in the period of change and in subsequent periods.
Inventories
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving inventory. Cost includes all direct costs.
Taxation
The Trust is a registered Charity and, as such, has not liability to income, Corporation or Capital Gains Tax.
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 comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
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.
Investment income, gains and losses are allocated to the appropriate fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Investments
Fixed asset investments are measured at fair value if the shares are publicly traded or can otherwise be measured reliably. The fair value is represented by the bid price at the financial reporting date.
Realised and unrealised gains or losses on investments are accounted for in full within the particular fund of which the investment forms a part.
Cash at bank and in hand
Cash at bank and 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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The Charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
continued...
Page 19
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. ACCOUNTING POLICIES - continued
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
Operating leases
Rentals paid under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.
Going Concern
The financial statements have been prepared on a going concern basis as the Trustees believe that there are no material uncertainties about the Trust's ability to continue as a going concern. The Trustees have considered the level of funds held and the expected level of income and expenditure for the next 12 months and the budgeted income and expenditure is sufficient with the level of reserves for the Trust to be able to continue as a going concern.
3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charitable company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no significant accounting judgements or estimation uncertainty that, in the opinion of the trustees, will have a material effect on the financial statements.
4. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| General donations Legacies |
2022 £ 82,414 168,020 250,434 |
2021 £ 156,553 174,274 |
| 330,827 |
The charity receives donations of animal food for use within its charitable activities. Historically the charity has recognised an estimate of the economic benefit of these donations within the Statement of Financial Activities (2021: £64,428). However, the trustees have decided that the cost and practicality of forming a reliable estimate of the value of these donations outweighs the benefits to the users of the financial statements of including this figure, and as such the value of donated goods has not been quantified in the Statement of Financial Activities in 2022.
5. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Shop income | 15,645 | 13,281 |
continued...
Page 20
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 6. INVESTMENT INCOME Dividends from listed investments Deposit account interest 7. INCOME FROM CHARITABLE ACTIVITIES Activity Income from charitable activities Reception, boarding and care of stray animals Income from charitable activities Provision of education 8. OTHER INCOME Commissions receivable Grants receivable Sundry Income |
2022 £ 34,155 86 34,241 2022 £ 215,097 15,417 230,514 2022 £ 17,231 - 5,118 22,349 |
2021 £ 33,642 12 33,654 2021 £ 212,944 10,000 222,944 2021 £ 16,467 45,125 13,747 75,339 |
|---|---|---|
Included within other income are the following amounts which are government grants as defined by the SORP: HMRC Coronavirus Job Retention Scheme £NIL (2021: £45,125).
9. RAISING FUNDS
Other trading activities
| Purchases Investment management costs Investment advice Aggregate amounts |
2022 £ 4,189 2022 £ 8,199 12,388 |
2021 £ 2,578 2021 £ 11,259 13,837 |
|---|---|---|
continued...
Page 21
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. CHARITABLE ACTIVITIES COSTS
| Direct Support Costs (see costs (see note 11) note 12) £ £ Reception, boarding and care of stray animals 482,813 208,105 11. DIRECT COSTS OF CHARITABLE ACTIVITIES 2022 £ Staff costs 321,198 Rates and water 1,613 Insurance 3,312 Postage and stationery 969 General maintenance 44,903 Motor and Travel 3,949 External veterinary fees 1,734 Drugs and Vaccines 33,185 Microchips 102 Body disposals and clinical waste 201 Food 1,635 Animal Consumables 4,685 General Cleaning 5,465 Animal Care Booklets and Tags 1,810 Donated goods - Sundry expenses 1,000 Staff training 1,819 Depreciation 55,233 Loss on sale of assets - 482,813 12. SUPPORT COSTS Governance Other costs £ £ Reception, boarding and care of stray animals 196,105 12,000 13. AUDITORS' REMUNERATION 2022 £ Fees payable to the charity's auditors for the audit of the charity's financial statements 9,750 Fees payable to the charity's auditors for other services: Preparation of the charity's financial statements 2,250 |
Totals £ 690,918 2021 £ 317,549 981 2,767 711 42,280 1,931 1,033 25,419 797 1,343 9,230 4,686 7,183 1,576 64,428 568 8,324 56,025 50,597 597,428 Totals £ 208,105 2021 £ 7,750 1,550 |
|---|---|
continued...
Page 22
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
14. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
15. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Full Time Part Time |
2022 £ 362,599 21,190 9,482 393,271 2022 11 12 23 |
2021 £ 361,803 21,658 9,806 |
||
|---|---|---|---|---|
| 393,267 | ||||
| 2021 13 10 23 |
No employees received emoluments in excess of £60,000.
The key management personnel of the Trust comprise the animal centre manager. Total remuneration including employers pension and national insurance contributions was £53,105 (2021 - £50,395).
The Trust receives significant amounts of assistance in the form of volunteering both by individuals and corporate organisations. Whilst this assistance is invaluable to the Trust, it is not possible to value in monetary terms the extent of this assistance and accordingly, the income and expenditure is not included.
16. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Reception, boarding and care of stray animals Provision of education Other trading activities Investment income Other income Total EXPENDITURE ON Raising funds Charitable activities Reception, boarding and care of stray animals Total |
Unrestricted fund £ 330,827 212,944 10,000 13,281 33,654 75,339 676,045 13,837 773,627 787,464 |
Designated £ - - - - - - - - - - |
Restricted fund £ - - - - - - - - 3,963 3,963 |
Total funds £ 330,827 212,944 10,000 13,281 33,654 75,339 |
|---|---|---|---|---|
| 676,045 | ||||
| 13,837 777,590 |
||||
| 791,427 |
continued...
Page 23
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
16. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17. INTANGIBLE FIXED ASSETS COST At 1 January 2022 and 31 December 2022 AMORTISATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 18. TANGIBLE FIXED ASSETS COST At 1 January 2022 Additions At 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Unrestricted fund £ 124,980 13,561 2,558,037 2,571,598 Freehold property £ 2,736,536 25,108 2,761,644 520,320 55,233 575,553 2,186,091 2,216,216 |
Designated £ - - 1,200,000 1,200,000 Fixtures and fittings £ 143,514 1,785 145,299 86,279 27,528 113,807 31,492 57,235 |
Restricted fund £ - (3,963) 224,913 220,950 Computer equipment £ 18,186 - 18,186 14,814 1,529 16,343 1,843 3,372 |
Total funds £ 124,980 |
||||
|---|---|---|---|---|---|---|---|---|
| 9,598 3,982,950 |
||||||||
| 3,992,548 | ||||||||
| Website £ 12,000 9,600 2,200 11,800 200 2,400 Totals £ 2,898,236 26,893 2,925,129 621,413 84,290 705,703 2,219,426 2,276,823 |
||||||||
continued...
Page 24
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
19. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2022 Additions Disposals Revaluations At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 There were no investment assets outside the UK. Cost or valuation at 31 December 2022 is represented by: Valuation in 2022 20. STOCKS Stocks 21. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Gift aid recoverable Prepayments 22. CURRENT ASSET INVESTMENTS Cash on deposit investments |
2022 £ 7,345 2022 £ 76,352 342 5,711 94,464 176,869 2022 £ 30,857 |
Listed investments £ 1,286,299 240,335 (235,590) (140,845) 1,150,199 1,150,199 1,286,299 Listed investments £ 1,150,199 2021 £ 6,354 2021 £ 36,913 220 14,783 79,818 131,734 2021 £ 37,038 |
||
|---|---|---|---|---|
continued...
Page 25
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
23. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accrued expenses |
2022 £ 14,429 11,630 1,818 21,033 48,910 |
2021 £ 13,458 10,303 5,881 14,786 44,428 |
|---|---|---|
24. MOVEMENT IN FUNDS
| Unrestricted funds General fund Reserves to cover fluctuations in income Restricted funds Restricted fixed asset fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 553,183 Restricted funds Restricted fixed asset fund - TOTAL FUNDS 553,183 Comparatives for movement in funds Unrestricted funds General fund Reserves to cover fluctuations in income Restricted funds Restricted fixed asset fund TOTAL FUNDS |
At 1.1.22 £ 2,571,598 1,200,000 3,771,598 220,950 3,992,548 Resources expended £ (699,906) (3,400) (703,306) At 1.1.21 £ 2,558,037 1,200,000 3,758,037 224,913 3,982,950 |
Net movement in funds £ (278,805) - (278,805) (3,400) (282,205) Gains and losses £ (132,082) - (132,082) Net movement in funds £ 13,561 - 13,561 (3,963) 9,598 |
At 31.12.22 £ 2,292,793 1,200,000 3,492,793 217,550 3,710,343 Movement in funds £ (278,805) (3,400) (282,205) At 31.12.21 £ 2,571,598 1,200,000 3,771,598 220,950 3,992,548 |
|---|---|---|---|
continued...
Page 26
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
24. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fixed asset fund TOTAL FUNDS |
Incoming resources £ 676,045 - 676,045 |
Resources expended £ (787,464) (3,963) (791,427) |
Gains and Movement losses in funds £ £ 124,980 13,561 - (3,963) 124,980 9,598 |
|---|---|---|---|
The restricted fixed asset fund relates to the rebuild project which took place in 2013, the animal ambulances which were also purchased in 2013 and monies in relation to the new veterinary facilities in 2019, treatment room and new cattery.
The designated fund was set up to cover fluctuations in voluntary income (e.g. legacies) in future periods.
25. EMPLOYEE BENEFIT OBLIGATIONS
The pension cost charge represents contributions payable by the Charity to a separately independently administered fund and amounted to £9,482 (2021: £9,806).
A total of £1,818 (2021:£5,881) in contributions were outstanding at the balance sheet date.
26. OTHER FINANCIAL COMMITMENTS
The charity has commitments to make minimum lease payments under non-cancellable leases as follows:
| In one year 2-5 years |
2022 £ 4,096 5,802 9,898 |
2021 £ 2,930 3,292 6,222 |
|---|---|---|
27. RELATED PARTY DISCLOSURES
David Evans who is a Trustee of RSPCA Radcliffe Shelter Trust is also a Trustee of RSPCA Nottinghamshire East.
During the year RSPCA Radcliffe Shelter Trust charged RSPCA Nottinghamshire East £178 (2021: £3,988) for vets fees and contributions for animals brought in from the branch.
At 31 December 2022 an amount of £178 (2021: £3,988) was owed by RSPCA Nottingham East.
During the year, David Evans who is a Trustee of RSPCA Radcliffe Shelter Trust paid £479 (2021: £252) for veterinary treatment, which was charged at market rate. There were no balances outstanding at the year end.
continued...
Page 27
RSPCA RADCLIFFE SHELTER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
28. FINANCIAL INSTRUMENTS
The carrying amount of the charity's financial instruments are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | ||
| £ | ||
| Financial assets at fair value through income and expenditure | ||
| Listed investments | 1,150,199 | 1,286,299 |
The incomes, expenses, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Net gains and losses (including changes in fair value) | ||
| Financial assets measured at fair value through net income/expenditure | (132,082) | 124,980 |
The total dividend income from financial assets that are measured at fair value through the income statement was £34,155 (2021 - £33,642).
Page 28