CAVALIERS IN NEED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Charity Number - 102896
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 CONTENTS Page Contents Officers Trustee's Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Page 1
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 OFFICERS COMmIEE CHAIRPERSON Mrs C Southwell SECRETAR Y Mrs E McElroy TREASURER Mrs G Hobson TRUSTEES Ms R Aiken Ms L Hendron Mrs C Southwell Mrs W Curtis Mrs G Hobson Mrs A Sproule INDEPENDENT EXAMINER Minshull & Co Chartered Accountants 19 Crescent Business Park LISBURN BT28 2GN BANKERS Ulster Bank Moira Office 49 Main Street Moira CRAIGAVON BT67 OLQ HEAD OFFICE 68 Silverwood Leaves Lurgan CRAIGAVON BT66 6LB Page 2
CAVALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 TRUSTEE REPORT The trustees present their annual report together with the financial statements for the year to 31 August 2022. AIMS AND OBJECTIVES Cavaliers in Need was established during 2013 but formally adopted a constitution in August 2015. Its purposes are specifically to take in, care for, rehabilitate and rehome stray and unwanted Cavalier King Charles Spaniels, Cavalier cross type dogs and any other dogs that may accompany them as companion dogs. This is done via the charity's foster care network and includes the following to educate the public about purchasing pups from responsible and ethical health testing breeders; to educate the public about the many health issues affecting the breed, and provide information, guidance and advice. to research Cavalier health so s to remain up to date and impart further knowledge. APPLICATION OF INCOME AND PROPERTY The property of the charity must be applied for purposes in accordance with section 2 of the Charities Act (Northern Ireland) 2008. TRUSTEES The charity and its property must be managed and administered by a committee comprising the officers and other members elected in accordance with the constitution. The officers and other members of the committee are the trustees of the charity and are a stated on page 2. The charity must have the following officers Chairperson Secretary Treasurer A trustee must be a member of the charity or the nominated representative of an organisation that is a member of the charity. The number of trustees must not be les5 than three and will not be subjett to a maximum. A trustee may not appoint anyone to act on his or her behalf at meetings of trustees. APPOINTMENT AND POWERS OF TRUSTEES The charity in general meeting must elect the officers and the other trustees. All of the trustees rnust retire with effect from conclusion of the annual general meeting next after his or her appointment but are eligible for re-election at that annual general meeting. The trustees must manage the busienss of the charity and have powers to further the purposes as mentioned above. Page 3
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 TRUSTEE REPORT (continued) MEMBERSHIP Membership is open to individuals over eighteen years of age or organisations that are approved by the trustees. The trustees may only refuse an application for membership if, acting reasonably and properly* they consider it to be in the best interests of the charity to refuse the application. The applicant must be informed in writing within twenty one days of the decision. Membership is not transferable to anyone else. The trustees must keep a register of names and addresses of the members which must be made available to any member on request. Membership is terminated if the member dies or if an organisation ceases to exist. the member resigns by written notice unless there would be less than two members after the resignation; any sum due from the member to the charity is not paid in full within six months of it falling due; the member is removed from membership by a resolution of the trustees that it is in the best interests of the charity that his or her membership is terminated. RESULTS The Net Outgoing Resources for the year amounted to -£4,724 (2020: -£9,490 Incoming) FINANCIAL REVIEW AND RESERVES POLICY Funds were generated during the year from donations and collections of £43,034, rehoming fees of £115,880 and £23,500 grants. The main expense5 incurred in carrying out the charity's activities were the retrieving dogs, £61,157, and veterinary fees amounting to £124,601. Reserves at 31 August 2022 were £58,229 most of which are readily available funds covering many years, running costs excluding wages. Currently the core costs are funded by the surplus of income raised over the direct costs, mainly professional costs of veterinarian fees. Expenditure is planned to provide services to support the company's objectives therefore most expense is directly for the charitable purposes during the year. 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. The aim and use of each designated fund is set out in the notes to the financial statements if identified as such. 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 cost of raising and administering such funds are charged against the specific fund. ACTIVITY DURING THE YEAR During the year the charity performed its activities as well as was allowed given the remaining restrictions imposed by coronavirus measures. Efforts were concentrated in rescuing dogs mainly in China and Turkey and this achieved a good degree of success. There wa5 a significant recovery in the levels of fostering and rehoming in the United Kingdom and Ireland and it is expected this will return to previous levels or more on removal of coronavirus restrictions. Page 4
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 TRUSTEE REPORT (continued) IMPACT OF COVID-19 As mentioned in the activity review, the impact of coranavirus restrictions meant that there was naturally a bigger concentration on remote activities, which ran successfully. There has been no material impact on the charity's sustainability due to the low overhead model and healthy reserves. Most donations are made online through Paypal and bank transfer so general income held up fairly well. Any fundraising activities that would have involved gatherings, especially indoors, had ceased in lockdown but fundraising continues to play a part in providing income for the charity. The trustees are satisfied that they have made necessary adjustments to ensure that Cavaliers in Need will continue to achieve its objectives. The impact caused by COVID-19 is now very much reduced. GOING CONCERN The trustees, having considered the charity's income streams, financial means and strategy for dealing with issues such as the impact of Covid-19, over the next 12-18 months, are satisified that the going concern basis is appropriate. FUTURE PLANS The charity's current funding and cost structure is stable and it intends to continue in this way in the near future so that the current services will continue to be offered where needed. It does need to generate more general funds to ensure that professional costs are covered in the future. RELATED PARTIES The charity carries out no transactions with any related party. TAX STATUS The Inland Revenue has accepted that Cavaliers in Need is a charity and registered it as such under the reference XN 79682. The charity is registered with the Charity Commission for Northern Ireland. INDEPENDENT EXAMINER The independent examiner, Donald R Minshull FCA of Messrs Minshull & Company, Chartered Accountants and Statutory Auditor, offers himself for re-appointment as independent examiner. BY ORDER OF THE COMMirrEE Chairperson Date 21 November 2022 Page 5
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF CAVALIERS IN NEED We have examined the financial statements, on pages 7 to 12, which comprise the Statement of Financial Activities, Balance Sheet and related notes of Cavaliers In Need for the year ended 31 August 2022. The financial reporting framework that has been applied in their preparation is applicable law and Charities SORP (FRS 102) and the accounting policies set out therein. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of accounts. The cha rity's trustees consider that an audit is not required for this year under section 65 of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. It is my responsibility to examine the accounts under section 65 of the Charities Act follow procedures laid down in the general directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of independent examiner's statement Ny examination was carried out in accordance with general directions given by the Charity Commission for NI, as required under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with Section 63 of the Charities Act 2. The the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters l. to 4. listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. D R Minshull FCA - Independent Examiner Minshull & Co, Statutory Auditor Date 21 November 2022 Page 6
CAVALIERS IIV NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 INCOMING RESOURCES Note Unrestricted Grants and Donations Rehoming Fees Restricted Fund Grants and Fees Sundry Income 43,035 145,879 23,500 46 53,433 18,660 94 212,460 72,187 RESOURCES EXPENDED EXPENDITURE ON CHARITABLE ACTIVITIES Retrieval of Dogs & Transport Costs Food and Supplies Fundraising Costs Veterinary Treatments Travel & Subsistence Costs Motor Expenses Restricted Fund Activities Veterinary and Medical Expenses Retrieval of Dogs & Transport Costs 58,657 4,440 1,033 118,559 2,233 7,188 30,392 744 2,451 40,008 385 2,527 6,042 2,500 Total (200,652) (76,508) Total Income less Direct Charitable Expenditure 11,808 (4,321) GOVERNANCE AND SUPPORT COSTS Insurance Equipment Repairs and Leasing Postage, Stationery and Office Supplies Advertising. and Website Expenses Depreciation Profit (Loss) on Sale of Fixed Assets Bank Charges Legal and Professional fees Accountancy & Examination Fees 2,396 286 460 442 1,817 2,318 327 1,658 413 280 990 328 538 Total (7,084) (5,169) BANK INTEREST RECEIVABLE Net Income(Expenditure) for the Year 4,724 (9,490) Total Funds Brought Forward at I September 2021 53,505 62,994 Total Funds Carried Forward at 31 August 2022 58,229 53,504 The notes on pages 9 to 12 form part of these accounts Page 7
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 BALANCE SHEET AS AT 31 AUGUST 2022 Note 2022 2021 Fixed Assets 7,901 9.718 Current Assets 64,820 48,141 Current Liabilities (3moJJnts falling due within one year) 5 (14,492) (4,354) Net Current Assets 50,328 43,787 Net Assets 58,229 53,505 FUNDS Unrestricted Funds 43,271 53,505 Restricted Funds 6&7 14,958 Balance at 31 August 2022 58,229 53,505 Approved, and authorised for issue, by the Trustees on the date below and signed on its behalf by Chairperson Date 21 November 2022 Treasurer Secretary The notes on pages 9 to 12 form part of these accounts Page 8
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charity's financial statements. (a) Basis of Preparation The financial statements have been prepared in accordance with 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 Section la) (Charities SORP (FR5102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transacton value unless otherwise stated in the relevant accounting policy note. (b) Reconciliation With Previous Generally Accepted Accounting Practice In preparing the accounts, the trustees have decided that in applying the accounting policies required by FRS 102 Section l(a) and the Charities SORP FRS 102 no restatement of comparative items was required. (c) Preparation of the Accounts on a Going Concern Basis The charity reported £4,724 cash inflow for the year and the trustees have formulated a strategy that will secure the immediate future of the charity for the next 12 to 18 months and on that basis the charity is a going concern. (d) Income Income is recognised when the company has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, of a revenue nature, is recognised when the company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not repayable to the funder. Capital grants are amortised in line with the depreciation of the associated assets, the purchase of which has been, funded by said grants. (e) Donated Services and Facilities Donated professional services and donated facilities are recognised as income when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the Use of the itern by the charity is probable and the economic benefit can be measured reliably. In accordance with the Charties SORP (FRS 102) general volunteer time is not recognised. 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 receSpt. (n Interest Receivable Interest on funds held on deposlt is included when receivable and the arnount can bemeasured reliably by the companyr normally upon notification of the interest paid or payable by the financial institution. Page 9
CAVALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS (continued) Ig) Fund Accounting Unrestricted funds are available to spend on activities that further any of the purpoes of the company. Designated funds are unrestricted funds of the charity that the directors have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the company's work. (h) Expenditure and Irrecoverable Value Added Tax Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be requireed and the amount of the obligationcan be measured reliably. Expenditure is classilied under the following activity headings., costs of raising funds comprise the costs of commercial trading expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the company governance and support cost5 include all other costs Irrecoverable Value Added Tax is charged as a cost against the activity for which the expenditure was incurred. Support Costs Support costs are disclosed separately in the Statement of Financial Activities. (i) Tangible Fixed Assets and depreciation Tangible fixed assets costing £200 or more are stated in the accounts at original cost less depreciation in order to write off the cost of fixed assets, over their estimated useful lives, using the following annual rate Vehicles and Equipment 250/0 Straight line (k) Debtors Debtors and accrued income are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid. Cash at Bank and in Hand Cash at bank and cash 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 slmilar account. (m) Creditors and Provisions Creditors and provisions are recognised where the company has a present obllgation resulting from a past event that will probably result in the transfer of fijnds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after any discounts. (n) 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. Page 10
CA VALIERS IN NEED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS (continued) (o) Charity status and members liability The charity is unincorporated. The members include the trustees that are listed on page 2. 2. YEAR'S SURPLUS IS STATED AFTER CHARGING(CREDITING): 2022 2021 Accountancy Fees Examination Fees 495 495 269 269 3. TANGIBLE FIXED ASSETS Fixtures & Equipment Motor Vehicles TOTAL COST at I September 2021 Additions Disposals 690 12,330 13,020 31 August 2022 690 12,330 13,020 DEPRECIATION at I September 2021 Charge for the Year On Disposals 14 173 3,288 1,644 3,302 1,817 31 August 2022 187 4,932 5,119 BALANCE SHEET VALUE 31 August 2022 503 7,398 7,901 4. CURRENT ASSETS 2022 2021 Prepayments and Accrued Income Cash at Bank and In Hand 6,216 58,604 2,488 45,653 64,820 48,141 5. LIABILITIES (Amount5 falling due within one year) 2022 2021 Bank Overdraft Accruals and Deferred Income 14,492 4,354 14,492 4,354 Page11
CAVALIERS IN NEED FINAIVCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 NOTES TO THE FINANCIAL STATEMENTS (continued) 6. FUNDS Unrestricted Restricted 2022 2022 2021 2021 Balance at I September 2021 (Deficit)Surplus for the year 53,505 (10,234) 62,994 (9,489) 14,958 Funds at 31 August 2022 43,271 53,505 14,958 7. RESTRICTED FUNDS ANALYSIS At l April 2021 Incoming Resources Resources Expended/ Transfers At 31 March 2022 Funder- Pets at Home Enkalon Animal Defence Trust Jean Sainsbury Animal Friends 10,000 1,000 1,500 10,000 1,000 (5,042) (1,000) (1,500) 4,958 10,000 (1,000) Total 23,500 {8,542) 14,958 8. TRUSTEES The trustees received no emoluments or expenses payments during the year. 9. EMPLOYEES Number of employees There are no persons employed by the charity during the year. 10. RELATED PARTIES The are no related party transactions to report for the year. 11. PRESENTATION CURRENCY The presentation currency of these financial statements is pounds Sterling (£GBP). Page 12