The World of Owls Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) 31 July 2024 2024 2023 Unrestricted funds Total funds Total funds Nole Incomo and Ertdowments Donations, Legacies and Grants Investment Income 43.755 43,755 39,785 Total Incomo 43.755 43.755 39.785 Expenditure: Expenditure on raising funds.. Costs of raising donations. legaaes and grants Costs of other trading activities Expenditure on charitable activities 9.096 2,454 42,247 9,096 2.454 42,247 8,548 2.215 29,729 9.10 Total Expenditure 53,797 S3,797 40,492 Net (expenditu>11ncorne and nel movement in funds -10.042 -10,042 -707 Ro¢onciliation of funds Total funds brought forward Total funds carried forward 18.398 8.356 18,398 8,356 The statement of financial activities includes all gains and h)sse$ recognised in the year. All Income and expenditure derive from continuing activities. The notes on pages 8 to 16 fom) part of these financial statement
The World of Owls Company Limited by Guarantee Statement of Financial Position 31 July 2024 2024 2023 Fixed Assets Tangible fixed assets 16 7.763 Current Assets Stocks Cash at bank and in hand 17 19.303 7.1CK) 19,200 21.320 Total Current Assets 26.403 40.520 Liabilities.. Creditors= amounts falling due within one year Other creditors including taxaln and social security Accruals and deferred income 18 22.460 750 26,635 750 23,210 27.385 Net current asscsts 13,135 Tolal assets less ¢urrenl liabililies 10,956 22.898 Creditors.. Amounts falling due after more Ihan one year 19 2.6Crf) 4.500 Total net assets 8.356 19,105 Funds of the charity Unrestricted funds 8.356 19,105 Total charity funds 20 8.356 19.105 For the year ending 31 July 2024 the charity was entitled to eXeMptn from audrt under section 477 of the Companies Act 2006 relalino to srnall companies Directors, responsibilities.. The members have not required the ccmnpany to obtain an audit of Ils financial slalemenls for the year in Question in accordance with section 476". The directors acknowledge their responsibilities for complwng with the requirements of the Act with respect to accounlinq records and the Dreparalion of financial statements. These financial statements have been prepared in accordance with the provisions aoplicable to companies gubiect to the small ComDans. reoime. The notes on pages 8 to 16 form part of these financial statement
The World of Owls Company Limited by Guarantee Statement of Financial Position (continued) 31 July 2024 These financial statements were approved by the board oftrustees and authorised for issue on 1111112024 and are signed on behalf of the board by". Mr Michael Gi Trustee The notes on pages 8 to 16 form part of these financial statements.
The World of Owls Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2024 General information The charity is a public benefit entily and a private company limited by guaranlee. regislered in Northern IreL8nd and a registered charity in Northern Ireland. The address of the registered office is wor of Owls Cenlre. 32 Mountshalgus Lane, Randalstown. Co Anlrim. BT41 3LE, Norlhern Irdand Statement of coTnplianGv These financial staiements have been prepared in compliance wrth FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slatemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {Charities SORP IFRS 1021) and the Companies Act 2006. Accounting policies Basis of prÈparation The financial statemenls have been prepared on Ihe historLal cost basis, as modified by the revaluation of certain financial 855ets and liabilrties and investment properties measured al fair value through income or expendrture. The financial statements are prepared in sterling. which Is the functional currency of the entrty. Going concern There are no material uncertainlies about the charity s abilty lo continue. Dlsclosure exemptions The entrty satisfies the criteria of being a qualifying entity as defined in FRS 102. As such. advantage has been taken of the following disclosure exempl¥)ns available under paiagraph 1.12 of FRS 102.. 12> No cash flow stateme.nt has been presented for the corllpany. (bl Disclosures in respect of financial insiruments have not been presented. Judgements and key sources of eslimation uncertainty The preparation of the financial statements requires management to make judgements. e51imales and assumptions that affect the amounts reported. These estimates and jutsgernenls are continually reviewed anol are based on experience and olher factors, including expectation5 of future evenls that are believed to be reasonable under the circumstsnces.
The World of Owls Company Limited by Guarantee Notes to the Financial Statements (conlinuedj Year ended 31 July 2024 Accounting policies (conlinuedl Fund accounting Unreslricled funds are available for use al the discrelk)n of the trustees lo further any of the charity's purposes. Designated funds are unrestrted funds eamarked by Ihe trustees for particular future project or commitment. Restricted funds are subjected to restridions on their expenditure declared by the donor or through Ihe lems of an appeal. and fall into one of two sub-classes restricted income funds or endowrnenl funds. Incoming resources All incoming resources are included in the staternent of financial activities when entitlement has passe¢Y to the charity,. rt Is probable thai the ecor¢omic benefits associated with tlie li<lFisaclion will flow lo the charity and the amount can be reliably measured. The following specrfic policies are applied lo particular categorE5 of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt Is probable and Ils ainount con measured reliably. legacy Income is recognised when receipt is probab and entitlement is established. income from donated gcrf)ds is measured al the fair value of Ihe goLxls unless this is impractical to rneasuie reliably. in which case thc volue Is derived from the cost to the donor or the estimated resale value. Donated facilities and serve5 are recognised In the accounts when received if the value can be reliably rneasured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled funds unless Ihere is a contractual requirement for rt to IR spent on a particular purpose and returned rf unspenl, in which case it may be regarded as restricted.
The World of Owls Company Limited by Guarantee Notes to the Financial Statements (Coniinuedj Year ended 31 July 2024 Accounting policies {coniinuedJ Resourceg expended Expenditure is fecognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classifbed under headings of the statement of financial activities to which it relates". expenditure on raising funds includes the costs of all fundraising aclivities, events, non- charitable trading activities. and the sale of donated goods. expenditure on chafltable actNilies includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and cosls relating to the governance of the chanty apportioned lo charitable aclivilies. other expenditure includes all expenditure that is nerther related to raising funds for the charrty nor part of its expenditure on chantable activrties. ASI costs are allocated to expendilure calegories reflecting the use of the resource. Direct costs attributable to a single actNity are allocated directly lo that activity. Shared cosls are apportioned between the activities they contribute to on a reasonable. Justifiable and consistent basis. Tangible assets Tan9ible assets are initially recorded at cost, and subsequently stated al Cost less any cMUlated depreciation and Impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the dale of revaluation kss any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a resull of a revalualion. Is recognised in other recognised gains and losses, unless il reverses a charge for impairmenl that has preVu$1Y been recognised as expenditure wrthin the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recogni5ed in other recognised gains and105ses. exGept lo which It offsets any previous revaluation gain, in whh case the loss is shown within other recognised gains and losses on the statement of financial lIVI11e$. Depreciation Depreciation is calculated so as to wriie off the cost or valuatson of an asset, less ils residual value, over the useful economic lrfe of thal asset as follows= 10% straight line 25% straight line 25"h straight line Property Fix1ure5 and fittings Motor VehleS 10-
The World of Owls Company Limited by Guarantee Notes to the Financial Ststements {contsnuedJ Year ended 31 July 2024 Accounting policie5 (continuedj mpaiimeiit of fixed a55et5 A review for indic*ors of impaiment is carried out at each reporting date. with the recoverable amount being estirnated where such indicators exist. Where the carrying value exceeds the recoverable amounl. the asset is impaired accordingly. Prior impaiments are also reviewed for possible reversal al each reporting date. For the purposes of impaim)ent testing. when rt is nol possible to estimate the recoverable amount of an indivldual asset, an eslimate is rnade of the recoverable arTh)unt of the cash-generaling unit to which the asset belongs. The cash-generating ur)it 15 the smallest idenlifiable group of assets that include5 the asset and generates cash inflows Ihal largely 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 acqui511ion dale, alk)caled lo each of ihe cash-generaling units that are expected to benefit from Ihe synergies of the combination. irrespectwe of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estirnated selling price kss costs to complete and sell. Cost includes all costs of purchase. costs of conversKin and olher costs Incurred In bringing the stock lo its present location and condition. Financial instruments A fiiiilllLiiil asset or a financial liability is iecognised only when the charity become3 & party to thc contractual provisions of the instrument. Basic financial instruments are initially re¢tyJnised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other onsideration expected to be paid or received and not discounled. Debt instruments are subsequently measured at anrtised cost. Where investments in shares are publicty traded or their fair value can otherw1se be measurecl reliably, the inveslrnent is subsequently measured al fair value with changes in fair value recognised In income and expenditure. All other such investments are subsequenlly measured al cost less impairment. Other financial instruments, including derivatives, are inrtially recognised at fair value, unless payment for an asset is deferred beyond normal business term5 or financed at a rale of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounied at a market late of interest for a similar debt instrument. Other financial Insiruments are subsequently wnv(iiured al fair value, wrth any chan9etr recogni$ad in the statement of financial activities, with the exception of hedging instruments In a designated hedging relationship. 11
The World of Owls Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 3 Accounting policies {continued FinanGial instrumetlls (contjnuedl Financial assets that are measured at cost or amortised cost are revEwed for objectrve evKJence of impairment al the end of each reporting date. If there 15 objective evNYence ol impairment, an impaiment loss Is recognised under Ihe appfopnate headiryj in the stslement of finanoal activities in which Ime ir)Itial gain wa5 recognised. Foi all equity in51rumenls regard$ of significanee. and other financial assets that are indivUallY significant, these are assessed individually for impaitrnent Other financial 3S5È1s are either assessed individually or grouped on the ha%is of $4milar credit risk eharaeteristics. Any reversals of irnpairmenl are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what Ihe carrying amount would have been had the Impaimient nol previously been recognised. Limited by guarantee The company is limited by guarantee and has no share capital and is recognised as a Charity by HM Revenue and Customs. Donations. legacies and grants Unrestncted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Sales and donations Er,.';ance fees Visits Grants from Governmentlolher 14,330 13.650 15,775 14.330 13.650 15,775 12.531 11 ?ao 16,054 12,531 11,200 16,054 43 755 39,785 6 Investment income unrestrt&j FurKIs Total Funds 2024 Unrestricted Funds Tolal Funds 2023 Deposrt aGGount inlere5t 7 Costs of raising donations, legacies and grants Unre8tricled Funds Total Funds 2024 Unrestricted FUTKIS Total Funds 2023 Costs of raising donation5 and legacies - Director's reMuneratrI -12-
The World of Owls Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 Costs of othor trading #etiviti•s Unrestrided Funds Totsl Funds 2024 Unrestricted Funds Total Funds 2023 Costs of other trading activities - Shop costs 9 Exper)diture on ¢haritable activities by fund type Unrestricted Funds Total Funds 2024 Unrestricted Funds Total Funds 2023 Support costs 42 247 10 Expendrture on charitsble activities by activity type Support costs Total funds 2024 Total fund 2023 Animal sanctuary 42 247 11 Analysis of support costs Analysis of support costs Total 2024 Total 2023 Staff costs Premises Communications and IT General office Finance cosis Accountancy Costs Governance costs Support costs - Other costs 13,682 12.528 360 879 131 13,682 12528 360 879 9.338 7537 383 418 146 750 13.917 750 13,917 750 11,157 42.247 12 Net lexpenditurellincome Net lexpenditure)lincome is stated after chargingl{crediting)- 2024 2023 Depreciation of tangible fixed assets -13-
The World of Owls Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 July 2024 13 Independent examination fee 2024 2023 Fees payable lo the independent examiner for- Independent exarnination of the financ1 statements 14 Staff costs 7SO 750 The total staff costs and employee benefits for the reporting period are anatysed as follows". 2024 2023 Wages and saLqries 22,778 17.886 The average head count of employees during the year was 5 {2023_' 4)- The average number of full- time equivalent employees during the year is analysed as follows.. 2024 2023 Number of slaff-managemenl Number of other staff- Z(xJ keepers and helpers No employee received employee benefrts of more than £60.000 during the year (2023. Nill. Is Trustee remuneration and expenses One or more trustees has been paid reMuneral)n or received other benefits from employment with the charity. As Manager of the Charity Mr Michael Gibb received £9.096 (2023 £8,548} -14-
The World of Owls Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 16 Tangible fixed assets Land and Buildings Fixtures and Frttings Motor Vehicles Total Cost Al 1 August 2023 Additions 80.781 40,337 21.189 122.307 At 31 July 2024 40 337 122 307 Depreciation Al 1 August 2023 Charge for the year 60,781 40,337 11.426 2,000 112,544 2,000 At 31 July 2024 60.781 40 337 13426 Carrying amount At 31 July 2024 Al 31 July 2023 9763 17 Stocks 2024 2023 Raw malerials and consumables 18 Other creditor5 including taxation and social securty falling due within one year 2024 2023 Directors, current COUnt less ly 22,460 26,634 19 Creditors: Amounts falling due after more than one year 2024 2023 Bank Loan 2.600 4,500 -15-
The World of Owls Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 July 2024 20 Analysis of charitable funds Unrestricted funds Unrestricted funds At 1 August 2023 Income Expenditure At 31 July 2024 Genoral Funds 18.398 43.755 {53.797} 8,356 Al 1 August 2022 Income Expenditure At 31 July 2023 General funds 19.105 39.785 {40,492) 18,398 21 Analysis of net assets between funds Unrestricted Funds 2024 Total Funds 2024 Tgngible fixed assets Current assets Creditors less than 1 year Creditors more than 1 year 7.763 26,403 {23.210} 7,763 26,403 123,2101 Net Asseis 8356 8,356 Unreslricled Funds 2023 Total Funds 2023 Tangible fixed assets Current assels Credrtofs less than 1 year Creditors rnore than 1 year 9,763 40.520 {27,385} 9,763 40,520 {27,3851 Net Assets 18,398 18.398 22 Related parties Mr Michael Gibb. a Director and TrLJStee of the Charity. is owed £22.460 by the Charity {2023 £26.635} -16-