The World of Owls Company Limited by Guarnntee Statement of Financial A¢tivitie5 (including income and expenditure account) 31 Juty 2023 2023 2022 Un￿$1￿cted funds Total funds Total funds Note Income and Endowments Donations. Legacies and Gwts Investment Income 39.785 39,785 45,085 Total Income 39,785 39,785 45,095 Expenditure: Expenditure on raising funds". Costs of raising donations. legaC￿S and grants Costs of other trading activities Expenditure on Charitable aciivilies 8,548 2,215 29.729 8,548 2,215 29.729 8,66S 2,208 27.797 9.10 Totsl Expenditure 40.492 40.492 38.670 Nel lexpendilurellincome and nel mvement in funds -707 -707 6,425 Reconciliation of funds Total funds brought forward Total funds Ca￿led fO￿ard 19.105 18,398 19.105 18.398 12.680 19,105 The statement of finanaal activities includes all gains ar￿ losses re￿nised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 16 fonn part of theso financial statement The World of Owls Company Limited by Guarantee ststement of Financial Position 31 July 2023 2023 2022 Fixed Assets Tangible fixed assets 16 9.763 11.878 Stocks Cash at bank and in hand 17 19,200 21.320 19,000 30.100 Tolal Current Assets 40.520 49,100 Liabilities: Creditors" amounts falling due within one year Other creditors including ta￿3110n and s(Kial secunty Accruals and defetred income 18 26,635 750 33.973 900 34,873 Net current assests 13,135 Total assets less current Iiabllrt￿S Credrtors: Amounts falling due after m￿e than one year 19 4.500 7,000 Totsl net assets 18.398 19,ID5 Funds of the charity Unrestricted funds 18.398 19,105 Total charity funds 20 18.398 19,105 For the year ending 31 July 2023 the chaiity was entitled to exemption from audit under section 477 of the Companies Act 2006 relatinq to small companies. Directors, responsibilrties: The members have not required the company to obtain an audrt of its financial statements for the year in questson in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act wth respect to accountinq records and the DreparatM)n of financial ststements. These financial ststements have LEen prepared in acCOrdar￿ with the pr￿IonS apolicable to companies subiect to the small companies, reqime. The notes on pages 8 to 16 forni part of these Ilnancial staternent The World of Owls Company Limited by Guarantee Statement of Financial Position (conthwdj 31 July 2023 These financial statements were approved by the tM)ard of trustees and authorised for issue on 1011012023 . and are svJr£d on behalf of the board by: Mr Michael Gibb Trustee The World of (hds Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2023 General Inforniation The charity is a publ£ benefit entsty and a private company limiied by guarantee, registered in Northern Ireland and a registefed chanty in Northern Ireland. The add￿$S of the registered office is Wortd of Owls Centre, 32 MoUntsha￿uS Lane. RandalstIy￿. Co Antrim. BT41 3LE. Northem Ireland. Statement of comp15ance These financial sL*ments have been prepared in Complian￿ with FRS 102. The Financial Reporting Stsndard applicable in the UK and the Republ￿ of Ireland., the Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reportsng Standard applicAble in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The finanaal statements have b&n prepared on the histori(31 cost basis. as n))Itfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value Ihrough income or expenditure. The fillan￿al statements are prepared in stsrling. which is functional currency of the entity. Going concern There are no material uncertaintEs about the charity's abilty to conb'nue. Disclosure exemptions The entity satisfies the criteria of being a qualfying ents'ty as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions avaiEable under paragraph 1.12 of FRS 102: {a) No cash fkyw statenEnt has been presented for the company. {bl Disclosures in respect of financial instruments have nol been presented. Judgements and key al￿re•S of estimati¢M uncertainty The preparatron of the financial statements requires managemenl to make judgements. èstimates and assumpts'ons that affect the afrnunts reported. These ests'mates and Judgements are continually reviewed and are based on experience and other factors, induding expectations of future events that are believed to be reas(H)able mder the¢l￿￿rr6tanCeS The World of Owls Company Limited by Guarantee Notes to the Financial Statements(cw*Rued) Year ended 31 July 2023 Accounting policies (ConlhJ￿d) Fund accounting Unrestricted funds are availabbe for use at the dt5cret￿ of tfustees to further of the charity's purposes. Designated funds are unrestricted funds earl￿ked by the trustees for paitular future project or commitment. Restricted funds are subjected to restrictions on their expendtture declared by the donor or through the terms of an appeal. and fall into one of tsvo sut￿claSses. restn'cted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when ents"ttemenl has passed to the chanty: it is probable that the economiG benefits aSs￿lated with the transaction will flow to the charty and the amount can be reliabty measured. The following speCrf￿ policies are applied to paitular categories CA Éncome: income from donations or grants is rwnised when there is evidence of entitlement to the gift, receipt is probable and ts amnt Can be rrtasured reliably. legacy income is rerx)gnised when receipt is pyobable and ent￿e[rEnt is established. income from donated goods is n*asured at the fair value of the goods unless this Is impractical to measure reliabty. in which Gase the value ts derived from the cost to the donor or the estimated resale value. Donated facilikn'es and Servi￿ are recognised in the accounts when received rf the value can be reliably ThEasured. No amunts are included for the conth'bution of ger￿1 volunteers. incorne from contracts for the suppty of SeNi￿S ts recognised wtth the delivery of the contracted servi￿. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed rf unspenL in whtch case rt may be regarded as restr1￿. The World of Company Limited by Guarantee Notes to the Financial Statements (continu•d) Year ended 31 July 2023 Accounting policios (contsnu•dJ Resources expended Expenditure is recognised on an ￿ualS basis as a lialx'lity is Incurred. Expendrture includes any VAT which cannot be fully recoVe￿d. and is classrf￿ under headings of the statertEnt of financial activities to which it relates.. expenditure on raigng furffls includes the costs of all fundraising activities. events. non- chantable tradtTKJ adivitss. and ￿ sate of donated expenditure on charitable activities indudes all costs incurred by a d￿nty in undertaking activrties that fijrther IÈS Charitable aims for the benefrt of tts beneficiaries. including those support costs and costs relatsng to the governan￿ of the chanty apportioned to charitable activities. other expenditu￿ tndudes aH expendiiure that is neither r*ted to raising funds forthe charty n[￿ part of tls expenditure on charitsble ath'vities. All costs a￿ allo¢*ed to expendliure categories refiecting the use of the resource. Direct costs attributable to a single activty are allocaled directly to that &ttvity. Shared costs are apportioned be￿een the actNities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are intbally recorded at cost. and subsequenty stated at cost less any accumulated depreciaknon and impaimEnt losses. Any L3ngible assets camed at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accurnulated depreciation and subsequent accurNlated impaim*nt k)sses. An InC￿8$e in the carrying amount of an asset as a result of a revaluation. is recognised in other re¢ognised gains and bsses. unless it reverses a charge for irnpairn￿nt that has previously been recognised as experKliiure wtthin the stateft￿nt of financial actwities. A decrease in the carying amount of an asset as a resuli of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in whth case the loss is shown within other recognised gains and k)sses ￿ the sL*ment of financial activrties. Depreciation DepreciatK)n is cakulated so as to write off the cost or valuatK)n of an asseL less its residual value. over the useful economic life of that asset as follows.. Pro￿rty Fixtures and ffittings Motor vehides 10% straigm line 25% straight line 25% straight line -10- The World of Owls Company Limited by Guarantee Notes to the Financial Statements (c Year ended 31 July 2023 Accounting policios (contthtmd) Impaimient of fixed assets A review for iT¥Jicatcxs of impairment is carrEd out at each Teporting date, with the recoverable amount tEing estimated where such ind￿atOrS exist. Where the Carrying value exceeds the recoverable amount, the asset is inwaired accordmgly. Prior inT)ainnents are also reviewed for possible reversal at each reF¥)rting date. For the purposes of impaimEnt testing, when it is not possible to estimate the recoverable amount of an individual asse( an estsmate is made of the recoverable amount of the cash-generating unit to whth the asset belongs. The cash-generats'ng unit is the smallest identifiable group of assets that includes the asset and generates cash infkpws that largety independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisibon date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the chanty are asS￿ned to those units. Stocks Stocks are measured at the ltrwer of cost and estimated selling p￿e less Ixtsts to (xjmplete and sell. Cost includes all costs of purchase. costs of conversts)n and other costs incurred in bringing the stock to ts present ￿tion and conditK)n. Financial instruments A financial asset or a financial Ikqbilty ts recognised onty when the charity becorres a paty to the contractual provisions of the instrument. Basic financtal instruments are initiaHy recognised at the amount receivable OT payable induding any related transaction costs Current assets and current liabilities are subsequenty ￿aSured at the cash or other consideration expected to be paKI or received and not discounted. Debt instruments are subsequenty measured at amortised cx)st. Vvhere investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investrnent Is subsequenty measured at fair value wrth changes in fa'r value recognised in income and exKErKliture. All other suth investments are subsequenty m&asufed at cost less impairment. Other financial instru￿nts. including derivatives. are inttially recognised at fair value. unless payment for an asset is deferred beyond nonnal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments dis(x)unted at a market rate of interest for a similar debt instruThEnt. Other financial instruments are subsequenlly measured at fair value. with any changes ￿CogniSed in the statement of financial activrt￿s. with the eX￿p11(￿ of hedging instrurnents in a designated hedging relationship. 11 The World of Owls Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 Juty 2023 3 Accountlng pollcles Icontlnued) Financial instruments (c£*rfN Financial assets that a￿ measured at cosl or arnort￿d cost a￿ revie*ed for obpctive evKae￿e ol impaimenl al the end of each ￿pOrting date. If there is obj'ective eviden¢* of Impaff￿. an impainnent loss is recojnised urtdw the aKpropri* heading ￿ the slatement of fmaniial a¢lT4It*s in which the inrtial gain was recogntsed. For all equty instruments regardless ￿ Si￿1￿•K￿. aNJ Ott￿r firwKial assets that ￿e irMli¥ithaMy significant, these are assessed indivtdually for impairment. Other financial assets are erther assessed individually or grouFEd on Ihe basis of simlar credit risk Char¥tenS￿s. Any reversals of impaimient are recognised immerfiatety. to Ihe exlent that the reversal d￿S not result in a carrying amount of the financÉal asset that exceeds *that the carrying ￿nOUnt would have been had the impainnent not previously b*n recogntsed. 4 Limfted by guarantee The cornpany s limrted by guwantee and has no share (3pital armj is recognised as a Charity by HM Revenue and Customs. Donations. legacies and grants Trrtal FuiNts 2023 Totsl Funds 2022 Funds Funds Donatlons Sales and donations Entrance fees V4sits Grants from Govemmentlother 12.531 11,2CKI 1S,054 12,531 16,354 12,630 14.519 1.582 16,354 12.630 4,519 1,582 6 Investment income UnrestrKted Funds Total Funds 2023 Unrestncted Funds Total Funds 2022 Deposit account interest 10 10 Costs of rnising donations, legacies and grants Unrestricted Funds Total Fun( 2022 Unrestn'cted FuThds Total Funds 2022 Costs of raising donations and legacEs- ￿'reCtOrS remuneratThi -12- The World of Owls Company Limited by Guarantee Notss to the Financial Statements (continued) Year ended 31 July 2023 Costs of othertrding acllvi Unrestrthd Totsl Funds Funds 2023 Unrestricted Funds Totsl Funds 2022 Costs of other trading activitses - Slx)o costs 20 9 Expendlture on charitabl• activities by fund typo unreSt￿le￿ Funds Totsl Funds 2023 Unrestricted Funds Total Funds 2D22 Support costs 10 Expendlture on charitable aclivilies by activity type Suppxl cosis Total funds Total fund 2022 Animal sanctuary 11 Analysis of support costs Analysis of Tolal 2D23 Total 2D22 Stsff costs Premises Communications IT General off￿e Finance costs Accountancy costs Govemance costs St5P￿rt cosb . Otrw costs- 9,338 7,537 383 418 146 6.219 11613 383 265 86 750 11,157 750 11.157 750 8,164 12 Net qexpendllufeylncome Net (expenditure)[in￿rne is stated after chargingl(uedth'ng)'. 20rJ 2022 Depreciation of tarvJible fixed assels -13- The World of Owls Company Limited by Guarantee Notes to the Financlal Statements (continued) Year ended 31 July 2023 13 Independent examlnatlon fee 2023 2022 Fees payable to the independent examirer for. Independent examinabon of the finanual sL3tements 750 750 14 Staff costs The total staff costs and empbyee beneffts for the reporting FEn(xJ are ar•sed as frAIows". 2D22 Wages and salaries 17.886 14.884 The average head count of employ*s during the year 4 (2022.. 4). The average number of full- "me equivalent employees during the year is analysed as folk)ws: 2023 2022 Number of slaff-management Number of other staff- Zoo keepers and helpers No employee receNed empfvjyee beneffts of more than £60.fKJO durirKJ the year [2022: Nil). 1S Trustee remuneration and expenses One or more trUSt￿S has been paid remuneration or recep4ed olher benefits from employment wÉtti the chanty. As Manager of the Charity Mr Mich*1 Gibb received £8.548 (2021 £8.665) -14- The World of Owls Company Limited by Guarantee Notss to the Financial Statements (continued) Year ended 31 July 2023 16 Tangible fixed assets Land and Buildings Fixtures arKI Motor Vehides Total At 1 August 2022 Addrtions 60,781 40.337 21,189 122.307 At 31 Juty 2023 Depreciation At 1 August 2022 Charge for the year 60.781 9,426 2.000 108,314 2,115 115 At 31 Juty 2023 Carrying amount At 31 Juty 2023 At 31 July 2022 115 17 Stocks 2023 2022 Raw materials and consumatAes 18 Other creditors Including tamtion and soclal security falling due withln one year 2023 2022 Directors. current account less ly 31,473 19 Creditors: Amounts falling due after more than one y￿r 2023 2022 Bank Loan -1 The World of Owls Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 July 2023 20 Analysis of charltable funds Unrestricted funds Unrestricted funds At 1 August 2022 Income Expendrture At 31 Juty 2023 General Funds 19.105 38,480 (39.187) 18.398 At 1 August 2021 Income Expendrture Al 31 July 2022 General funds 12.680 45,095 (38,670) 19,105 21 Analysis of net assets between funds Unrestricted Funds 2023 Totsl Funds 2023 Tangible fixed assets Current assets Credrtois less than 1 year Creditors more than 1 year 9.763 40.520 (27,3851 9,763 40.520 127,3851 Net Assets 18.398 18.398 Unrestricted Funds 2022 Total Funds 2022 Tangible fixed asset5 Current assets Creditors less than 1 year Creditors more than 1 year 11.878 49,100 134,873) 11,878 49,100 {34,873) Net Assets 19.105 19,105 22 Related parties Mr Michael Gibb, a Director and Trustee of the Charity. is owed £26,635 by the Charrty12021 £31,473). -16-