**REGISTERED CHARITY NUMBER: 514964** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2022** **for** ## **Shetland Rescue Horse And Pony Sanctuary** Douglas Fairless Partnership Seymour Chambers 92 London Road Liverpool Merseyside L3 5NW **Shetland Rescue Horse And Pony Sanctuary** ## **Contents of the Financial Statements for the Year Ended 31 December 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|10| |**Detailed Statement of Financial Activities**|11|to|12| **Shetland Rescue Horse And Pony Sanctuary** ## **Report of the Trustees for the Year Ended 31 December 2022** The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the charity are: The care and protection of horses and ponies, in particular shetland ponies which are in need of care and attention by reason of old age, sickness, maltreatment, neglect, poor circumstances or similar causes. To meet the needs of not only the animals set out in the objectives but those animals who are suffering in similar circumstances. To relieve the suffering of the animals brought into the charity's care. To provide shelter, food and medical care for those animals in the shelter. ## **ACHIEVEMENTS AND PERFORMANCE** **.** The charity had total incoming resources of £2,193 (£2021 - £7,946 ) in the year. Total resources expended were £34,849 (2021 - £45,466) resulting in a excess expenditure before gains and losses on investments of £2,344 (2021 - £2,520). The charity has fulfilled it's objectives in the period. ## **FINANCIAL REVIEW** ## **Reserves policy** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The committee members considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is unincorporated and is governed by it's constitution dated 9th February 1984. ## **Organisational structure** The committee members who served during the year were: S McKenzie B Rafferty Efforts are being made to appoint new trustees but in the intervening period the trustee is being supported by professional advisers. The committee have assessed the major risks to which the charity is exposed to and are satisfied that systems are in place to mitigate them. The committee have taken due regard to the charity commission requirements on public benefit and are satisfied that the charity meets the criteria. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 514964 **Principal address** Ramsbrook Lane Hale Village Liverpool Merseyside L24 5RP Page 1 **Shetland Rescue Horse And Pony Sanctuary** ## **Report of the Trustees for the Year Ended 31 December 2022** ## **Trustees** Miss S McKenzie Trustee B Rafferty ## **Independent Examiner** Douglas Fairless Partnership Seymour Chambers 92 London Road Liverpool Merseyside L3 5NW Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... Miss S McKenzie - Trustee Page 2 ## **Independent Examiner's Report to the Trustees of Shetland Rescue Horse And Pony Sanctuary** ## **Independent examiner's report to the trustees of Shetland Rescue Horse And Pony Sanctuary** I report to the charity trustees on my examination of the accounts of Shetland Rescue Horse And Pony Sanctuary (the Trust) for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. G Newton Douglas Fairless Partnership Seymour Chambers 92 London Road Liverpool Merseyside L3 5NW Date: ............................................. Page 3 ## **Shetland Rescue Horse And Pony Sanctuary** ## **Statement of Financial Activities for the Year Ended 31 December 2022** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,193
**EXPENDITURE ON**
Raising funds
2
22,420
Other
12,429
**Total**
34,849
Net gains/(losses) on investments
(63,661)
**NET INCOME/(EXPENDITURE)**
(96,317)
**RECONCILIATION OF FUNDS**
Total funds brought forward
668,154
**TOTAL FUNDS CARRIED FORWARD**
571,837|Restricted
fund
£
-
-
-
-
-
-
-
-|31.12.22
31.12.21
Total
Total
funds
funds
£
£
2,193
7,946
22,420
32,478
12,429
12,988
34,849
45,466
(63,661)
18,385
(96,317)
(19,135)
668,154
687,289
571,837
668,154| |---|---|---| The notes form part of these financial statements Page 4 ## **Shetland Rescue Horse And Pony Sanctuary** ## **Balance Sheet 31 December 2022** |Notes
**FIXED ASSETS**
Tangible assets
5
Investments
6
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
379,011
431,937
810,948
31,221
(270,332)
(239,111)
571,837
571,837|Restricted
fund
£
-
-
-
-
-
-
-
-|31.12.22
Total
funds
£
379,011
431,937
810,948
31,221
(270,332)
(239,111)
571,837
571,837
571,837
571,837|31.12.21
Total
funds
£
379,011
536,453| |---|---|---|---|---| |||||915,464
21,175
(268,485)| |||||(247,310)| |||||668,154| |||||668,154| |||||668,154| |||||668,154| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. S McKenzie - Trustee The notes form part of these financial statements Page 5 **Shetland Rescue Horse And Pony Sanctuary** ## **Notes to the Financial Statements for the Year Ended 31 December 2022** ## **1. 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. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 10% on reducing balance ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **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. ## **2. RAISING FUNDS** ## **Investment management costs** Portfolio management |31.12.22|31.12.21| |---|---| |£|£| |5,855|6,606| Page 6 continued... **Shetland Rescue Horse And Pony Sanctuary** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **3. 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. ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
Raising funds
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**5.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2022 and 31 December 2022
**DEPRECIATION**
At 1 January 2022 and 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Unrestricted
fund
£
7,946
32,478
12,988
45,466
18,385
(19,135)
687,289
668,154
Freehold
property
£
378,039
-
378,039
378,039|Restricted
fund
£
-
-
-
-
-
-
-
-
Fixtures
and
fittings
£
1,482
510
972
972|Total
funds
£
7,946
32,478
12,988
45,466
18,385
(19,135)
687,289
668,154
Totals
£
379,521
510
379,011
379,011| |---|---|---|---| Page 7 continued... **Shetland Rescue Horse And Pony Sanctuary** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **6. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Listed| ||investments| ||£| |**MARKET VALUE**|| |At 1 January 2022|536,453| |Disposals|(40,855)| |Revaluations|(63,661)| |At 31 December 2022|431,937| |**NET BOOK VALUE**|| |At 31 December 2022|431,937| |At 31 December 2021|536,453| |There were no investment assets outside the UK.|| Cost or valuation at 31 December 2022 is represented by: |Valuation in 2021
Valuation in 2022
Cost
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**8.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans|Listed
investments
£
(23,221)
(63,661)
518,819
431,937
31.12.22
31.12.21
£
£
1,342
37
268,990
268,448
270,332
268,485
31.12.22
31.12.21
£
£
266,961
266,961| |---|---| Page 8 continued... **Shetland Rescue Horse And Pony Sanctuary** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **9. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**||||| |---|---|---|---|---| ||||Net|| ||||movement|At| |||At 1.1.22|in funds|31.12.22| |||£|£|£| |**Unrestricted funds**||||| |General fund||668,154|(96,317)|571,837| |**TOTAL FUNDS**||668,154|(96,317)|571,837| |Net movement in funds, included in the above are as follows:||||| ||Incoming|Resources|Gains and|Movement| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|2,193|(34,849)|(63,661)|(96,317)| |**TOTAL FUNDS**|2,193|(34,849)|(63,661)|(96,317)| ## **Comparatives for movement in funds** |At 1.1.21
£
**Unrestricted funds**
General fund
687,289
**TOTAL FUNDS**
687,289
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
7,946
(45,466)
**TOTAL FUNDS**
7,946
(45,466)|Net
movement
At
in funds
31.12.21
£
£
(19,135)
668,154
(19,135)
668,154
Gains and
Movement
losses
in funds
£
£
18,385
(19,135)
18,385
(19,135)|At
31.12.21
£
668,154|At
31.12.21
£
668,154| |---|---|---|---| |||668,154|| ||||(19,135)| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.1.21|in funds|31.12.22| ||£|£|£| |**Unrestricted funds**|||| |General fund|687,289|(115,452)|571,837| |**TOTAL FUNDS**|687,289|(115,452)|571,837| Page 9 continued... **Shetland Rescue Horse And Pony Sanctuary** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **9. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|10,139|(80,315)|(45,276)|(115,452)| |**TOTAL FUNDS**|10,139|(80,315)|(45,276)|(115,452)| ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2022. Page 10 ## **Shetland Rescue Horse And Pony Sanctuary** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 31 December 2022**||| ||31.12.22|31.12.21| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gifts|1|1| |Donations|1,892|4,290| |Legacies|300|3,655| ||2,193|7,946| |**Total incoming resources**|2,193|7,946| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Hay & feed|7,221|14,858| |Vet fees|2,840|2,710| |Direct costs|6,504|8,304| ||16,565|25,872| |**Investment management costs**||| |Portfolio management|5,855|6,606| |**Support costs**||| |**Finance**||| |Bank charges|147|83| |**Information technology**||| |Repairs and renewals|-|1,102| |**Human resources**||| |Wages|8,772|7,446| |Pensions|149|-| |Sundries|-|158| ||8,921|7,604| |**Other**||| |Rates and water|760|985| |Insurance|1,784|1,727| |Cleaning|-|42| ||2,544|2,754| |**Governance costs**||| |Accountancy and legal fees|817|1,337| |Fixtures and fittings|-|108| ||817|1,445| |Total resources expended|34,849|45,466| |**Net expenditure before gains and losses**|(32,656)|(37,520)| This page does not form part of the statutory financial statements Page 11 ## **Shetland Rescue Horse And Pony Sanctuary** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2022** ||31.12.22|31.12.21| |---|---|---| ||£|£| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|35,000|35,000| |**Net income/(expenditure)**|2,344|(2,520)| This page does not form part of the statutory financial statements Page 12