MILL5TREAM ANIMAL SHELTER YEAR ENDED 31 DECEMBER 2024 TRUSTEES, REPORT The trustees are pleased to present their report together with the financial statements of the charitv for the year ended 31" December 2024. Reference and administrative details Charity number: 702953 Trustees: A.P. Hurst R. Pictor S. Hinde L, Milner M, Kasprowicz E. Griffith L. Cheetham Registered Office.. Millstream Lane Clayton Bridge Manchester M40 IQT Independent Examiner: The Accountancy People Huddersfield Road Stalybridge Cheshire SK15 2QA Bankers: Lloyds Cobden House 12 Mosley Street Manchester M2 3AQ MILLSTREAM ANIMAL SHELTER YEAR ENDED 31 DECEMBER 2024 TRUSTEES, REPORT Structure, Governance and Management Governin document Millstream Animal Shelter was established by a trust deed dated the 19th of June 1990. It is registered as a charity with the Charity Commission. There are currently approximately 80 members. ointment of trustees As set out in the Trust deed there can be a minimum of five and a maximum of ten trustees. Upon election trustees serve for three year term. All members are circulated with invitations to nominate trustees prior to the AGM. Generally trustees have been involved with the Shelter for some time and are aware of their rights and obligations as trustees and they are made aware of the plans and financial position of the charity upon appointment. anisation The board of trustee's aims to meet regularly but all major decisions both financial a nd non-financial are discussed with all trustees before being put into effect. Risk mana ement The trustees have conducted a review of the major risks to which the charity is exposed and this review is regularly updated at management meetings. Where appropriate, systems or procedures have been established to mitigate the risks, both financially and non-f ina ncially. Objectives and activities The objects of the charity are To relieve the suffering and distress of cats and other animals by the provision of food, shelter and veterinary care for unwanted, sick or ill-treated animals and wherever possible provide good homes for them. To prevent the unwanted breeding of animals. To advance public education in the needs and proper care of animals. In f urtherance of the foregoing objects but not otherwise the Trust shall have the following powers: To establish and maintain a centre or centres for treating unwanted sick or ill-treated animals under veterinary advice. To undertake the sheltering of animals parted from their owners. To make arrangements for the adoption of animals and educate the public as to their responsibility towards animal ownership. To purchase animals where it is considered in the animals best interest to do so. To take veterinary advice when euthanasia is the only alternative. To arrange the neutering of animals by the veterinary surgeon5. To co-operate with other organisations having a sim ilar charitable objective. Achievements and Performance We are presently operating with a regular staff of 6 plus a manager, During vear 2024 we rehomed 767 cats / kittens. Again, many of our homes are initiated through our Facebook page which, whilst time saving in some respects, does involve our staff / trustees working out of hours with enquiries and calls. Our Facebook appeals for food and shop donations have been phenomenal. We cannot thank our supporters enough for their response. As the location being on site of our charity shop has become better known, along with the quality of our goods and our reasonable prices, so does its success go from strength to strength. Times are very challenging in animal rescue, there are more and more pregnancies and unwanted and abandoned cats / kittens. Plans for the future The trustees, a5 always, expect to be able to continue the Charity's activities in keeping with their objectives, We continue to improve our site facilities. Bearing in mind the Charity Commission guidance on public benefit the trustees are confident that our ongoing work in helping pet owners in all aspects of care fulfils the public benefit test. Reseryes policy The trustees have examined the charities requirements for reserves in the light of the main risk to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be approximately equa I to 9 mo nths, expenditure having regard also to any contingencies that might arise and any possible downturns in voluntary income. The planned increase in the level of reserves from 6 to 9 months expenditure has arisen from the generally depressed economic climate and the consequent adverse effect that this might have on future funding. Trustees, responsibilities Charter law requires the trustees to prepare accounts that give a true and fair view of the state of affairs of the charity and of its income expenditure for f inancial yea r. In doing so the trustees are required to.. Select 5Ultable accounting policies and apply them consistently. Make judgments and estimates that are reasonable and prudent. State whether applicable accounting standards and statements of the recommended practice have been followed, subject to any departures disclosed and explained in the financial statements. Prepare the accounts on the going concern basis unless it is it inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations. They are a Iso responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities, MILL5TREAM ANIMAL SHELTER MILLSTREAM LANE CLAYTON BRIDGE MANCHESTER M40 IQT BY ORDER OF THE COMMITTEE ROSEMARY PICTOR DATED.. ADRIANNE HURST MILLSTREAM ANIMAL SHELTER YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MILLSTREAM ANIMAL SHELTER I report on my examination of the accounts of the Trust for the year ended 31 December 2024 which are sel out on pages 6 - 13 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER As the charity's trustees you are responsible for the preparation of the accounts,. you consider that an audit is not required for this year under section 144(21 of Ihe Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act., follow the procedures laid down in the general Directions given by the Charity Commission under section 14515}{bl of Ihe 2011 Act., and state whether particular matters have come to my attention, BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried OLtt in accordance with the General Directions given by the Charity Commission. That examination includes a review of the accounting records kept by the charity and a comparison of the financial accounts with those records. 11 also includes consideration of any Unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a "true and fair view" and the report is limited to those mallers sel out in the slalemenl below. INDEPENDENT EXAMINER'S STATEMENT Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinalion as l am a member of the ICAEW, which is one of Ihe listed bodies. I have completed my examination. I confirm that no malerial matters have come lo my attention in connection with the examinalion giving me cause to believe that in any material respect.. accounting records were not kept in accordance with section 130 of the 2011 Act'or the accounts do not accord with those records,'or Ihe accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a "Irue and fair view" which is nol a matter considered as part of an independentexamination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. The Accountancy People Huddersfield Road Slalybridge SK15 2QA James Sheard Page 5 MILLSTREAM ANIMAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Notes 31.12.24 31.12.23 Incoming resources from generated funds: Voluntary income.. Donations and Gifts including Gift Aid Legacies 125.675 455,399 115,519 64,409 Activilies for generating funds.. Shop income Commission 29,204 31,954 Investment income.. Inleresl received Dividends Rents rèceivable Profilllosslon sale of investments 1,824 2,655 21,700 12,860 1,346 2,459 20,450 Incoming resources from charitable activit18S.' Granl Total incoming resources 649,317 236,137 Costs of gonerating funds: Costs ol generaling volLtntary income 9,859 8,492 Charity shop 2,547 2,811 Charitable activilies 328,858 274,120 Governance 3,024 2,891 Total resources expended Net incominglloutgoingl resources before other recogni5ed gains and losse5 (51,997) Other recognised gainsl(losses}: Profiijlossl on investments 71,192 73,210 Reconciliation of funds: Total funds brought forward 1,792,262 1,771,226 Total funds carried forward 1,792,262 The slalemenl of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing aclivilies. The accompanying noles are an integral part of this statement of financial activities. Page 6 MILLSTREAM ANIMAL BALANCE SHEET AS AT 31 DECEMBER 2024 31.12.2024 31.12.2023 Notes Tangible Fixed Assets Investments 233,942 1,019,382 1,253,324 356,440 948,190 1,304,630 Curront Assets Sundry Debtors and Prepayments Cash al Building Society Cash al Bank and in hand 18,065 510,000 394 416 922,481 17,493 239,795 243,986 501,274 Current Llabilities Sundry Creditors and Accruals 17,3221 Net Current Assets 915159 2,168,483 487 632 1.792,262 Less.. Long Term Liabilities LoansfromTruslees NetAssets Funds Unrestrlcted Funds: General Fund The Accounts were approved by the Truslees and signed on their behalf by.. A Hurst Dated Page 7 MILLSTREAM ANIMAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES The principal accountin9 policies adopted in the preparation of the financial statements are summarised below. Basis of preparatlon The financial statements have been prepared under the historical cost convention with the exception that investments are included al market value and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) issued on 16 July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102, Going concern There are no material uncertainties about the ability of the charity to continue as a going concern. Fund accounting Unrestricted funds comprise accumulated surpluses and deficits on general funds that are available for use al the discretion of Ihe trustees in furtherance of the general objectives of the charity and that have not been designated for other purposes. All of the charity's funds are unrestricled funds Incoming resources All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income and the .amounl can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income is received by way of gifts, donations, homing fees and grants and is included in full in the SOFA when receivable. Grants, where entillemenl is not conditional on the delivery of a specific performance by the charity, 8re recognised when the charity becomes unconditionally entitled to Ihe grant. Legacies are recognised in the SOFA as they are received or when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the eslate and any conditions allached to the legacy are either within the control of the charity or have been met. Items donated for resale through the charity's shop are included as incoming resources within activities for generating funds when they are sold. The value of services provided by volunteers has not been included in these accounts. Inveslment income is included when receivable. Page 8 MILLSTREAM ANIMAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Resources expended Expenditure is accounted for on an accruals basis and is reported as part of the expenditure to which il relates. Costs of generating funds comprise the costs associaled with allracling voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those Costs incurred in the delivery of activities and services for beneficiaries. 11 includes both costs that can be alloealed directly lo such activities and those costs of an indirect nature necessary lo support them. Governance costs include thos& costs associated with meeting the conslilulional and statutory requirements of the charity and include professional fees and costs linked lo the strategic management ol the charity. Tangible Fixed Assets and Depreciation Tangible fixed assets are slated al cost less depreciation. Depreciation of fixed assets is calculated lo write off Ih8ir cost less any residual value over their eslimaled usefijl lives as follows.. Land and Buildings Motor Vehicles Plant and Equipment Fixtures and Fillings Computer Equipment Nil on land, 5 /0 on property improvements 25 /0 on wrillen down value 15 /ts on wrillen down value 15°/0 on wrilleii down value 25 10 on wrillen down valu& Inve$trnonts Fixed asset investments in quoted shares, traded bonds and similar investments are valued inili8lly al cost and subsequently al fair value Imarkel valLJe) al the year end. Investment properties Investment properties are properties h8ld lo earn rentals andlor lor capital appreciation. Investment properties are initially measured al cost including Iransaclion costs. Subsequenlly investment properties are measured al fair value. Inveslmenl property valuations are based on an open market valuation. Gains and losses arising from changes in the fair value of investment properties are included in the SOFA in the period in which they arise. Financial instruments The charity accounts for basic financial inslrumenls, debtors and prepayments and creditors and accruals, al the undiscounled amount of the cash or other consideralion expected lo be received or paid Page 9 MILLSTREAM ANIMAL SHELTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Iconlinued) TOTAL RESOURCES EXPENDED Total 2024 Total 2023 Irect •llo¢atod to Purcl)ases & Veterinary le¢$ Neutering $chem* Stsff costs Premisos cos Motor & Travol Telephone Prinling & Stauonary Sundr1¢¥ Bank Ch8rg¢s Depreclaiion and 1088 on dltspos•1 Profe$s1o￿l foes vltl•• 107.201 107.201 92.992 2.145 170,735 14,431 172,889 16.978 133,197 18,741 2,$47 813 2,642 3,455 3,322 293 180 300 S14 248 252 •d to actlv Premises costs Motor & Travel Pdntlry & St*tlonary Publlcity and promollon Tel$plioiia Tr8inlng Dopreciatlon Bank Bnd Just gi￿￿0 Charg88 Sundrles Investment property costs Reallstsd loty$ on Invtrsiments 3,32 1 21.502 4.948 1.468 24.823 4.948 1,468 21,193 6.589 2.479 1.042 1,042 382 2,466 2.178 3,366 3.3fj6 3,366 3.35 1 3.352 6.703 4.257 382 Totsl Re$owcès e)pended 328 858 344 288 288 314 Total resources expended The above costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating lo a particular activity are allocated directly, others are apportioned on an appropriate basis leg. number of employees or eslimated usage}. Support costs have been apportioned using numbers ofpeople per area ofactivity or on a basis which is considered consislentwilh the use of the resources. Page 10 MILLSTREAM ANIMAL SHELTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (conlinued) Staff Costs The staff cosls of the charity, were as follows.. 2024 2023 Wages Social security costs 142,991 25,073 108,849 19.907 Employer's pension costs There were no employees who earned in excess of £60,000 per annum. No members of the management committee received any remuneration during the year. No trustee or other person related to Ihe charity had any personal inleresl in any conlract or transaction entered into by the charily during the year. Independent Examlner The independent examiner The Accountancy People was paid £3,45512023'. £3,322.) during the year, of which £2,64212023.' £2,293) related to the preparation and examination of the financial statements. Taxatlon As a charity, Millslream Animal Shelter is exempt from tax on income and gains to the extent that they are applied lo ils charitable objectives. No provision for lax is therefore considered necessary. Page11 MILLSTREAM ANIMAL SHELTER 6 Tangible Fixed Assets L8nd & Prowrty Freehold Plant & Ma¢hin?rv MotuVehl¢lti Totsl Colt at 1 Jan￿ry2024 thsposals 470,358 226.610 741,376 1119,1L? I A5 al 31 D•¢embw 2024 3S1226 226.610 44,408 622,244 Depreel•t¢on AS al 1 January 2024 o¥ydtd the penod 129,013 226.610 29,313 3,386 384,936 3,36S As al 31 D4¢ernbèr 2024 129,Q13 126.610 32,679 388.302 Net 8ook Value As al 31 C)Bcember2024 222.213 11,729 233,942 A5 at l J4nuJry 2Q24 341,34S 15.095 3S6,440 Page 12 MILLSTREAM ANIMAL SHELTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) Investments Shares listed on Ihe London Stock Exchange.. 2024 Valuation at 1 January 2024 Received during the year Acquired during the year Value of shares sold in Ihe year Unrealised gainl{loss} on investments in the year Valuation at 31 December 2024 948,190 71,192 Investment property 17 Gambrel Bank Road, OL6 8TW 135,706 189 Stockport Road, OL5 ORF -SOLD Oct 2024 6 Myrtle Grove 190 Oldham Road. OL7 9AN 62,000 91,129 Total investments 1308 217 Investments comprising listed shares and securities are slated at market value at Ihe balance sheel dale. The investment properly is not held for consumption bul for investment purposes and will be maintained to a high standard. The Trustees consider that to depreciate it would be inappropriale. Fixed asset investment properties are stated al fair value. Page 13