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2023-12-31-accounts

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

Charity registration number: NIC104594 Company registration number: NI 48385

The Friends of Assisi Animal Sanctuary Annual Report and Financial Statements Year Ended 31 December 2023

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Contents

Contents
Page
Charity Reference and Administrative Details 3
Trustees’ Annual Report 4
Independent Auditor’s Report 13
Statement of Financial Activities (including Income and Expenditure Accounts) 16
Balance Sheet 17
Statement of Cash Flows 18
Notes to the Financial Statements 19-30

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Annual Report and Financial Statements

Year Ended 31 December 2023

Year Ended 31 December 2023
Charity registration number NIC104594
Company registration number NI48385
Trustees Brian Bingham (resigned 03/09/23)
Kieran McCullagh (resigned 13/03/24)
Rosie McKerr (resigned 03/10/23)
Billy Ellis (resigned 30/08/23)
Theresa Barrett
Richard McMullan (resigned 14/08/23)
Brónach Kelly (resigned 17/07/23)
Ian Morrice (resigned 14/08/23)
Simon Doherty (resigned 4/10/23)
Tony McCrory (appointed 8/10/23)
Joan Cochrane (appointed 08/10/23)
Rosemary Glendinning (appointed 05/10/23)
Acting Chairperson Tony McCrory
Secretary Theresa Barrett
Registered office 1 Old Bangor Road
Conlig
Newtownards
BT23 7PU
Auditors KPS Chartered Accountants
Chartered Tax Advisers
Registered Auditors
35 Irish Street
Co Down
Downpatrick
BT30 6BW
Solicitor Edwards & Co
28 Hill Street
Belfast
BT1 2LA
Bankers Ulster Bank Ltd
9-11 Church Road
Holywood
BT18 9PU
Investment managers Investec Wealth & Investment Ltd
5thFloor Centrepoint
58-60 Bedford Street
Belfast
BT2 7DR

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

The Trustees of The Friends of Assisi Animal Sanctuary present their annual report and the audited financial statements for the period 1 January 2023 to 31 December 2023.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (FRS102), in preparing their annual report and financial statements.

STRUCTURE AND GOVERNANCE

The Friends of Assisi is a charity registered with the Charity Commission for Northern Ireland and is also registered as a company limited by guarantee.

The Charity is governed by a Board of Trustees whose members act in a voluntary capacity. New appointees are inducted in the aims and objectives via the strategic plan and are provided with copies of the governing documents of the charity. Training is available via NICVA.

The powers of the Trustees are set out in the Articles of Association. In relation to financial management, they have the power to:

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

TRUSTEES OF THE CHARITY

The Directors of the charitable company are the Trustees for the purpose of Charity Law. The Trustees who served during this reporting period are as follows:

Kieran McCullagh Tessa Barrett Brónach Kelly (resigned 17/07/2023) Richard McMullan (resigned 14/08/2023) Ian Morrice (appointed 22/01/2023 - resigned 14/08/2023) Billy Ellis (resigned 30/08/2023) Brian Bingham (resigned 03/09/2023) Rosie McKerr (resigned 03/10/2023) Simon Doherty (appointed 04/07/2023 - resigned 04/10/2023) Rosemary Glendinning (appointed 05/10/2023) Tony McCrory (appointed 08/10/2023) Joan Cochrane (appointed 08/10/2023)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are the Directors of the Company for the purposes of Company Law) are required to prepare the Trustees’ Annual Report and Financial Statements for each financial period in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Accounting Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each accounting period which give a true and fair view of the affairs of the company and of the incoming resources and application of resources including income and expenditure of the company for that period.

In preparing these financial statements, the Trustees are required to: -

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

VISION

The vision of the Charity is a future where Assisi is Northern Ireland’s leading animal welfare charity and brings about a day where every companion animal has a happy home for life.

AIMS

The Charity’s aims, as set out in its Articles of Association, are specifically restricted to animal welfare and the advancement of education in matters pertaining to animal welfare, care and treatment for the benefit of the public

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

in Northern Ireland and its environs of the Republic of Ireland by associating with the statutory authorities, voluntary organisations and inhabitants in a common effort to:

MISSION

The Charity’s mission is:

VALUES

The Charity has a set of four values underpinning its approach.

1. Caring and Compassionate

We will always do the best we can for every animal within our sphere of influence.

2. Dedicated and Committed

We will strive to embrace change and look for new initiatives to deliver better animal welfare.

3. Professional

We will train our people and treat everyone with respect.

4. Ethical

We will always strive for improvement through our policy making via research, honesty and maintenance of the law in all we do.

RISK MANAGEMENT

Trustees have a duty to identify and manage the key risks that affect the Charity’s ability to continue to function. The Charity Commission defines risk as “that which, if it occurs, would have a severe impact on the operational performance, objectives, or reputation and which has a high chance of occurring.”

The Trustees undertook an assessment of the Charity’s business risks and divided these into four categories viz reputational, financial, compliance and operational. A risk table was produced which quantified risk in terms of impact, multiplied by risk of occurrence and giving a risk assessment score which is categorised as either high, medium, or low. The risk table is reviewed annually. Trustees were required on joining to make a declaration that they have no personal or professional loyalties that would prevent or could be perceived as preventing them from making decisions only in the best interests of the Charity.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

PUBLIC BENEFIT STATEMENT

The Charity has carefully considered the Charity Commission for Northern Ireland’s Guidance on Public Benefit to ensure that the activities it undertook during the year have helped to achieve the Charity’s objectives as well as providing public benefit. The public benefit requirement as defined in the Charities Act (Northern Ireland) 2008 (as amended) states that to be a charity in Northern Ireland an organisation:

Assisi’s charitable purpose falls under the ‘advancement of animal welfare’.

These benefits are the promotion of the capacity of people for compassion by caring for injured or abandoned animals. This is achieved through the reduction of the number of dogs unnecessarily destroyed in our local council pounds, the provision of pet food to food banks and other charities that deal with those who are temporarily homeless or who are experiencing some financial hardship, relieving stress on people who may be struggling to feed and care for their pets. This is also achieved through the rescue and rehoming of stray or unwanted companion animals and educating the public in relation to animal welfare and the care of companion animals.

Our purpose does not give rise to any harm.

The beneficiaries of these purposes are the public throughout Northern Ireland.

PLANS AND PRIORITIES

The Charity has a Strategic Plan for the period 2019-2024. It sets out the plans and priorities under six headings:

The Strategic Plan was prepared pre the Covid pandemic and has had, of necessity, to be scaled back. The annual Business Plan was also subject to frequent amendment during the year. The Trustees are currently formulating a Strategic Plan for the next 3 years 2025 to 2027.

PERFORMANCE AGAINST OBJECTIVES

1 FINANCE

We were selected as Community Partner with Pets at Home Bangor, received grants from ADCH (Association of Dogs and Cats Homes), Mars and the Maureen Boal Trust and were also selected as Charity of the Year (COTY) by IQ-EQ and Gallagher Insurance.

We held our first Gala Ball in quite some time, in the Clandeboye Lodge Hotel, with over 100 guests enjoying a great night’s food, entertainment and auction, and raising over £20k net income. Special thank you to Victoria Frazer for organising and hosting such a tremendous event.

Several external events took place during the year including a pizza night at a new Little Wing restaurant in Belfast with all proceeds going to Assisi. We also held our usual annual fundraising events such as the Poker Run, Summer Fair, Doggy Reunion Day, Winter Market and our 3 Santa Paws events. Street collections were carried out throughout the year.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

2 ANIMAL WELFARE

Several sites were investigated as potential new locations for the development of a new sanctuary but none of these were progressed.

During 2023 the Assisi Outreach Programme continued to help hundreds of households throughout Northern Ireland to keep their companion animal within the family unit without them being an additional drain on very limited resources. Assisi Outreach was able to achieve its aims by working with other organisations such as local St Vincent De Paul, Community Advice etc, who contact Assisi Outreach with a referral for their clients who have a companion animal in need of food and other items.

Assisi Outreach also provided pet food to various food banks across the province, in Ards, Belfast, Newry and Portadown and to Team Haven, (a charity that provides meals to the homeless 6 nights a week), for those who are homeless and have a companion dog.

We continued to work with individuals who TNR, or those who run small rescues, providing cat/dog/kitten/puppy/ food for German Shepherds, Greyhounds, Huskies etc. Individuals who foster kittens that are just hours or a few days old, received baby milk, mousse, and kitten pouches during kitten season throughout 2023. We also supplied rabbit and guinea pig food to individuals and rescues.

Assisi Outreach continues to reach out into the local community, supplying thousands of meals and providing support for companion animals outside of Assisi's gates.

There was a high demand for intake of animals during 2023 and rehoming was slow. This could have been in part due to a greater move from home working back to office based, along with the continued increase in the cost of living. However, staff were very successful in finding forever homes for quite a few long-term animals.

----- Start of picture text -----
Rehoming 2020 2021 2022 2023
Cats 121 87 114 192
Dogs 157 104 88 106
Rabbits 30 29 28 46
Small Animals 84 105 68 102
Totals 392 325 288 446
----- End of picture text -----

Some stories of note from 2023

Dogs

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

Cats:

Smalls:

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

3 EDUCATION

2023 saw an increase in the number of school and youth groups requesting talks and presentations, predominantly within the primary and early post primary year groups. All talks resulted in both financial and goods donations with quite a few schools and groups organising their own fundraising activities for the charity.

4 COMMUNICATION

During 2023 there was a concerted effort to consolidate our communications.

Our volunteer and supporter E-newsletters were improved and sent out regularly throughout the year with 6 editions of each and the Paw Prints magazine continued to prove informative and popular with supporters and shoppers alike. The covering letters of appeal for donations proved very successful. The winter edition included our Christmas brochure which again proved popular with multiple orders for Christmas cards and other available merchandise. The magazine is also popular at various events with increasing interest in the digital version which facilitates online viewing.

The Bangor Spectator continues to provide a monthly opportunity to promote and highlight long term animals needing homes. Other media activity involved various local radio and television interviews with BBC & UTV and continued growth across all our social media platforms.

Throughout the year we attended multiple events around the province ensuring a presence at animal related events. At our summer fair, we set up an advice and information stand with animal welfare staff on hand to provide help to the public.

We continued to play our part as one of 6 charities working together on the NICAWG group, driving improved animal welfare legislation in Northern Ireland.

5 COMMERCIAL

In July 2023, the board took the decision to close the Ballynahinch store after 8 years of trading. Reasons for this were based on high staff turnover, low profit margins, problems with neighbouring tenants and high levels of vandalism in the area. An effort was made to relocate in Ballynahinch however, any suitable properties fell through, and a decision was made to search for properties in other locations, closer to our 3 remaining stores in Bangor, Ards, and Holywood. Commercial rental properties were identified in Saintfield, Comber and Lisburn but the board decided against proceeding with any of them.

While the remaining three stores are doing well, there are some issues with the buildings, in particular Holywood where damp and water leaks are proving problematic and investment in repairs is required.

The search for new commercial properties is ongoing.

6 PEOPLE

There were many staff and volunteer changes in 2023 creating a considerable void that needed to be filled. Seven members of the Board of Trustees took the decision to resign over the period from July to October. Three trustees were co-opted to the Board in October and are up for election at the AGM.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

Following the resignation of the Animal Welfare Manager, the structure of the organisation was reviewed and revised creating Sanctuary Manager and Unit Team Leader posts. This created the opportunity for animal welfare staff promotion and the vacancies were filled by recruitment from within the organisation.

Staff appraisals were carried out and various staff received emergency first aid at work training as well as fire warden training. All staff received Customer Care training and both PSNI Training and a Health & Wellbeing session were also offered. Several staff had the opportunity to attend the ADCH conference and The Dog Campus provided training for our Dog Unit staff free of charge with our dogs having the benefit of mantrailling adventures.

Ongoing volunteer recruitment, induction and training took place throughout the year to try to bring numbers back to pre-lockdown levels and a social event for staff and volunteers was organised in June to celebrate Volunteers Week.

We had the benefit of a number of groups of Corporate Volunteers working several days a week at the sanctuary from March through to the end October carrying out painting and maintenance jobs.

FINANCIAL REVIEW (INCLUDING RESERVES POLICY)

The financial statements cover the year ended 31[st] December 2023 and are prepared on an accruals basis which is in keeping with the accounts of previous years.

Total income was £1,356,322 which is an increase of £183,708 on the figure of £1,172,614 for 2022.

Income from activities such as general donations, donations by bank mandate, tax claims, collection boxes and street collections etc amounted to £240,168 which was an increase of £14,887, from the 2022 figure of £225,281.

We also received total legacy income of £397,986 which was an increase of £147,912 compared with £250,074 in 2022.

Income from fundraising events increased by £36,135 from £36,105 in 2022 to £72,240 in 2023. Shop income has decreased by £17,658 from £575,097 in 2022 to £557,439 in 2023 while investment income increased by £2,052 from £16,679 in 2022 to £18,731 in 2023. Historically rehoming income was treated as a donation. From the start of 2018 such income has been treated as a sale and included in income from trading activities.

On the expenditure side overall, we spent £1,006,306 on charitable activities compared to £968,266 in 2022 – an increase of £38,040. We continue to keep a tight control on our costs. In total we have spent £1,404,531 on all our activities in 2023 compared to £1,336,267 in 2022.

As such at 31 December 2023, we had net assets of £1,932,038 compared to £1,905,502 at the end of 2022. Overall, we show a surplus of income over expenses for the year of £26,536 compared to a deficit of £277,566 in 2022.

Reserves Policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. The level of unrestricted reserves that the charity aims to retain are as follows;

General Purpose Fund – this is a fund available at the discretion of the Trustees in respect of the furtherance of the objectives of the charity. The level of funds that the charity aims to retain are equivalent to three months operating costs.

Trustee Designated Fund – this is a fund used to maintain and upgrade site facilities. A minimum fund limit has been set at £100,000 by the Trustees.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Trustees’ Annual Report

Year Ended 31 December 2023

DISCLOSURE OF INFORMATION TO THE AUDITORS

We, the Trustees, who are the Directors of the Company who held office at the date of the approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

SMALL COMPANIES EXEMPTION

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

On behalf of the Board of Trustees

T McCrory 29/05/2024 14:48:04

Tony McCrory Tony McCrory Trustee

Date: 29[th] May 2024

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Independent Auditor’s Report

Year Ended 31 December 2023

Opinion

We have audited the financial statements of The Friends of Assisi Animal Sanctuary for the year ended 31 December 2023 which comprise of the Statement of Financial Activities (including Income and Expenditure Account), the Balance Sheet, the Cashflow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Independent Auditor’s Report

Year Ended 31 December 2023

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Independent Auditor’s Report

Year Ended 31 December 2023

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

K Smyth 29/05/2024 14:55:58

Kyran Smyth

KYRAN SMYTH (Senior Statutory Auditor) For and on behalf of KPS Chartered Accountants Chartered Accountants & Statutory Auditor 35 Irish Street Downpatrick Co Down BT30 6BW

Date: 29[th] May 2024

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Statement of Financial Activities (including Income and Expenditure Account)

Year Ended 31 December 2023

Note
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net gains/(losses) on
Investments
4
Total income/(expenditure)
Transfers between funds
Other recognised gains / (losses):
Gains / (losses) on revaluation
of investments
14
Net movement in funds
20
Reconciliation of funds:
Total funds brought forward
20
Total funds carried forward		 Unrestricted
funds
Restricted
funds
£
£
624,609
27,095
685,887
-
18,731
-		 2023
Total
£
651,704
685,887
18,731
1,356,322
(398,225)
(1,006,306)
(1,404,531)
(432)
(48,641)
-
75,177
26,536
1,905,502
1,932,038		 2022
Total
£
496,463
659,472
16,679
1,329,227
27,095
(398,225)
(984,498)
(21,808)		 1,172,614
(368,001)
(968,266)
(1,382,723)
(21,808)
(432)
-		 (1,336,267)
34,638
(53,928)
5,287		 (129,015)
-
-
75,177
-		 -
(148,551)
21,249
5,287		 (277,566)
1,840,895
64,607		 2,183,068
1,905,502
1,862,144
69,894

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 18 to 30 form part of these financial statements.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Balance Sheet

Year Ended 31 December 2023

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash on deposit – Investec Wealth & Investment Ltd
14
Cash at bank and in hand
Creditors: amounts falling due within one year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
18
Net assets
Charity Funds
Restricted funds
20
Unrestricted funds:
General Purpose Fund
20
Designated Fund – Fixed Assets
20
Total charity funds
20		 2023
£
654,010
912,469
1,566,479
12,988
92,627
23,275
314,304
443,194
(77,635)
365,559
1,932,038
-
1,932,038
69,894
595,130
1,267,014
1,932,038		 2022
£
686,489
813,988
1,500,477
9,350
190,658
35,595
210,002
445,605
(40,580)
405,025
1,905,502
-
1,905,502
64,607
667,357
1,173,538
1,905,502

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Board on 29[th] May 2024.

Signed on behalf of the Board of Trustees

T McCrory 29/05/2024 14:48:04

Tony McCrory

Tony McCrory, Trustee

Date: 29[th] May 2024

Company registration number: NI 48385

The notes on pages 18 to 30 form part of these financial statements.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Statement of Cash Flows

Year Ended 31 December 2023

Note
Cash flow from operating activities
22
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Payments to acquire investments
Receipts from sales of tangible fixed assets
Receipts from sales of investments
Net cash flow from investing activities
Cash flow from financing activities
Repayment of finance lease liabilities
Net cash flow from financing activities
Net increase in cash and cash equivalents in the financial year
Cash and cash equivalents at the beginning of the financial year
Cash and cash equivalents at the end of the financial year
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash on deposit – Investec Wealth & Investment Ltd
14
Cash and cash equivalents at the end of the financial year		 2023
£
124,645
124,645
(9,359)
(79,857)
-
56,552
(32,664)
(-)
(-)
91,981
245,597
337,578
314,303
23,275
337,578		 2022
£
(89,785)
(89,785)
(14,529)
(593,712)
-
550,090
(58,151)
(-)
(-)
(147,936)
393,533
245,597
210,002
35,595
245,597

The notes on pages 18 to 30 form part of these financial statements.

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E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

1 Summary of significant accounting policies

(a) General information and basis of preparation

The Friends of Assisi Animal Sanctuary is a company limited by guarantee in Northern Ireland. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The charity provides a sanctuary for animals and is dedicated to the welfare of companion animals.

The charity constitutes a public benefit entity as defined by FRS 102. 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds comprising the General Purpose Fund 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 Trustees Designated Fund was established in June 1998 to hold donations from a public appeal to enable the purchase of land and buildings comprising 1 Old Bangor Road, Conlig, Newtownards. The freehold property was purchased for £85,000 in August 1999. Funds in excess of the purchase price and associated professional fees are held in the Trustees Designated Fund to be used to maintain and upgrade site facilities. Specific animal welfare related projects may, at the discretion of the Trustees, receive contributions from this fund. The Trustees have set a minimum limit for this fund of £100,000.

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. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

19

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.

Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable upon receipt it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from other trading activities’.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.

Other income includes other income not recognised under other headings.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

(e) Vat

The charity registered for vat in 2018. As such income and expenses for the year ended 31 December 2023 are shown net of vat as appropriate. Irrecoverable vat is included in the expense to which it relates.

20

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

(f) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

(g) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land Nil
Freehold buildings Over 40 years
Site facilities Over 7 years
Office and kennel equipment Over 4 years
Motor vehicles Over 4 years

(h) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs.

Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.

(i) Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Donated stocks are included in income from other trading activities when they are sold as described in (c) above.

(j) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(k) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

21

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

(l) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(m) Hire purchase

Assets acquired under hire purchase agreements are capitalised and depreciated over the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding hire purchase liability using a level spread method due to the short length of the hire purchase agreements and small level of interest charged in respect of the hire purchase agreements. The related obligations, net of future finance charges, are included in creditors.

(n) Tax

The Friends of Assisi Animal Sanctuary is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.

(o) Going concern

The directors/trustees have prepared the 2023 financial statements on a going concern basis after assessing principal risks and uncertainties. The trustees have also considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. In their opinion the anticipated future income and expenditure is sufficient, together with the level of reserves for the charity to be able to continue as a going concern.

(p) Judgements and key sources of estimation uncertainty

Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying these charity accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.

2 Income from donations and legacies

Gifts (Donations):
Donations – general
Donations by bank mandate
Tax claims
Membership
Collection boxes/street collections
Street collections
Other
Legacies
Grants:
Dogs Trust (Homeward Bound)
Miscellaneous funds		 2023
£

123,514
50,105
48,882
2,200
7,646
4,380
3,441
240,168
397,986
-
13,550
13,550
651,704		 2022
£
103,471
43,588
59,127
4,313
4,874
9,777
131
225,281
250,074
11,607
9,501
21,108
496,463

Income from donations and legacies was £651,704 (2022 - £496,463) of which £27,095 (2022 - £18,856) was attributable to restricted funds and £624,609 (2022 - £477,607) was attributable to unrestricted funds.

22

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

3 Income from other trading activities

Income from other trading activities
Fundraising events
Shop income
Rehoming income
Pet plan		 2023
£
72,240
557,439
29,280
26,928
685,887		 2022
£
36,105
575,097
19,227
29,043
659,472

Income from other trading activities was £685,887 (2022 - £659,472) of which £nil (2022 - £nil) was attributable to restricted funds and £685,887 (2022 - £659,472) was attributable to unrestricted funds.

4 Income from investments

Income from investments
Dividends and interest
Realised gains/(loss) on sale		 2023
£
18,731
(432)
18,299		 2022
£
16,679
34,638
51,317

Income from investments was £18,299 (2022 - £51,317) of which £nil (2022 - £nil) was attributable to restricted funds and £18,299 (2022 - £51,317) was attributable to unrestricted funds.

5 Investment management costs

Investment management costs
Investment management fees 2023
£
6,942
6,942		 2022
£
7,508
7,508

£nil (2022 - £nil) of the above costs were attributable to restricted funds and £6,942 (2022 - £7,508) were attributable to unrestricted funds.

6 Analysis of expenditure on charitable activities

Analysis of expenditure on charitable activities
2023 2022
£ £
Sanctuary at Conlig
Staff wages plus e’ers NIC & pension costs 607,909 481,559
Veterinary care 79,158 54,757
Animal food & consumables 46,559 40,828
Cleaning materials 6,331 8,297
Heat & Light 25,465 21,408
Sanctuary insurance 10,938 15,372
Telephone 23,668 24,249
Ambulance expense 10,307 7,246
Site security 495 953
Care staff uniforms & PPE 4,691 8,401
Care staff training 2,224 1,937
Recruitment expenses 2,704 4,654
Printing, Postage and Stationery 14,905 10,088
Advertising & promotional items 64 5,358
Travel 830 1,030

23

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

Professional fees
Auditor
Accountancy
Bank & financing charges
Membership & conference fees
Maintenance & repairs
Sundry expenses
Depreciation
Homeward Bound
Veterinary expenses
Veterinary drugs
Kennel expenses
Ambulance expenses
Maintenance & repairs
Outreach Program
Animal food & consumables
Veterinary Care
Veterinary Drugs
Clara Cat Group
Legal costs
Clara McMullan Deceased Fund
Total expenditure on charitable activities		 26,287
2,000
1,050
5,244
1,966
24,168
2,128
41,838
940,929
-
-
-
-
-
-
33,230
9,644
22,503
65,377
-
-
-
1,006,306		 25,987
2,000
1,000
4,679
2,317
32,099
4,798
47,280
806,297
12,062
1,643
6,150
1,840
331
22,026
24,957
10,222
24,763
59,942
1,435
78,566
80,001
968,266

Included in the above expenditure are support costs of £3,050 (2022 - £3,000) in respect of activities undertaken in accordance with note 7 below.

£21,808 (2022 - £98,857) of the above costs were attributable to restricted funds and £984,498 (2022 - £869,409) was attributable to unrestricted funds.

7 Allocation of support costs

Governance
Total		 Sanctuary
Homeward
Bound
Chance
of a
Lifetime
Clara Cat
Group
2023
Total
2022
Total
£
£
£
£
£
£
3,050
-
-
-
3,050
3,000
3,050
-
-
-
3,050
3,000

24

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

8 Governance costs

8
Governance costs
Trustee remuneration
11
Trustee expenses
Consultancy
Accountancy
Auditor’s remuneration
10
9
Net income/ (expenditure) for the year
Net income / (expenditure) is stated after charging / (crediting):
Depreciation and impairment of tangible fixed assets		 2023
£
-
-
-
1,050
2,000
3,050
2023
£
41,838		 2022
£
-
-
-
1,000
2,000
3,000
2022
£
47,281

10 Auditor’s remuneration

The Auditor’s remuneration amounts to an audit fee of £3,050 (2022 - £3,000).

11 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2022: £Nil).

The total amount of employee benefits received by key management personnel is £nil (2022 - £nil). Key management personnel are considered to comprise the trustees.

No (2022 – none) trustees are accruing pension arrangements.

The trustees did not have any expenses reimbursed during the year (2022 - £nil).

12 Staff costs and employee benefits

The average monthly number of employees during the year was as follows:

Raising funds
Charitable activities
The total staff costs and employees’ benefits was as follows:
Wages and salaries
Employers NIC
Defined contribution pension costs		 2023
2022
10
10
25
28
35
38
2023
2022
£
£
765,112
647,705
48,654
42,307
14,886
11,615
828,652
701,627

No employees received total employee benefits of more than £60,000.

25

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

13 Tangible fixed assets

Land and
Buildings
Equipment
Motor
vehicles
£
£
£
Cost or valuation:
At 01/01/23
878,028
63,570
77,934
Additions
7,242
2,117
-
Disposals
-
-
-
At 31/12/23
885,270
65,687
77,934
Depreciation:
At 01/01/23
229,950
45,369
57,724
Charge for the year
18,564
13,169
10,105
Impairment
-
-
-
Eliminated on disposals
-
-
-
At 31/12/23
248,514
58,538
67,829
Net book value:
At 31/12/23
636,756
7,149
10,105
At 31/12/22
648,078
18,201
20,210
The net book value of land and buildings comprised:
2023
£
Land and buildings:
Freehold
636,756
636,756		 Land and
Buildings
Equipment
Motor
vehicles
£
£
£
878,028
63,570
77,934
7,242
2,117
-
-
-
-		 Land and
Buildings
Equipment
Motor
vehicles
£
£
£
878,028
63,570
77,934
7,242
2,117
-
-
-
-		 Total
£

1,019,532

9,359

-
885,270
65,687
77,934
1,028,891
229,950
45,369
57,724
18,564
13,169
10,105
-
-
-
-
-
-
333,043

41,838

-

-
248,514
58,538
67,829
374,881
636,756
7,149
10,105
654,010
648,078
18,201
20,210
686,489
2023
£
636,756
636,756		 2022
£
648,078
648,078

The value of non-depreciable land included in Land and Buildings was £479,126 (2022 - £479,126).

No borrowing costs are included in the cost of the fixed assets.

Included in the total net book value of motor vehicles was £ Nil (2022 - £Nil) in respect of assets held under finance leases.

No tangible fixed assets have been pledged as security for liabilities of the charity.

14 Fixed asset investments

Cost or valuation
At 1/1/2023
Additions
Revaluation
Disposals
At 31/12/2023
Impairment
At 1/1/2023
Eliminated on disposals
At 31/12/2023
Carrying amount:
At 31/12/2023
At 31/12/2022		 Listed
investments
Total
£
£
813,988
813,988
79,857
79,857
75,177
75,177
(56,553)
(56,553)
912,469
912,469
-
-
-
-
-
-
912,469
912,469
813,988
813,988

26

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

Investments at fair value compromise:

Equities and securities
Cash within investment portfolio		 2023
£
912,469
23,275
935,744		 2022
£
813,988
35,595
849,583

The fair value of listed investments is determined by reference to prices quoted on the London stock exchange.

15
Stocks
Animal food & consumables
Merchandise
16
Debtors
Income tax recoverable
Vat Recoverable
Trade debtors
Prepayments
Accrued Income
Other debtors
No amounts included in debtors are falling due after one year.
17
Creditors: amounts falling due within one year
Trade creditors
PAYE
Cat trap deposits
Pension contributions
Accruals and deferred income
18
Creditors: amounts falling due after more than one year
Bank Loan (over 1 year)		 2023
£
9,475
3,513
12,988
2023
£
13,242
16,485
29,250
22,206
7,141
4,303
92,627
2023
£
34,796
12,940
215
5,498
24,186
77,635
2023
£
-
-		 2022
£
8,723
627
9,350
2022
£
7,628
11,789
20,047
18,546
132,265
383
190,658
2022
£
25,001
-
115
2,981
12,483
40,580
2022
£
-
-

27

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

19 Contingent assets

In August 2020 an interim payment of £200,000 in respect of a legacy to the charity was received. This amount of the interim payment had been included in income for the year ended 31 December 2020, however, at that date it was not possible to quantify the remaining amount of the legacy. At 31 December 2023 the full amount that will be receivable had still not been determined due to the ongoing administration of the deceased’s estate. The legacy related to an individual who had died in late 2018. No payments in respect of this legacy have been received since August 2020.

20 Fund reconciliation

Unrestricted funds

General Purpose
Trustee Designated
Restricted funds
Cat Building fund
General Funds
Maureen Boal
Charitable Trust
Total Funds		 Balance at
01/01/2023
Income
Expenditure
Transfers
Gains /
(losses)
Balance at
31/12/2023
£
£
£
£
£
£
667,357
1,310,496
(1,382,723)
-
-
595,130
1,173,538
18,731
-
-
74,745
1,267,014
1,840,895
1,329,227
(1,382,723)
-
74,745
1,862,144
Balance at
01/01/2023
Income
Expenditure
Transfers
Gains /
(losses)
Balance at
31/12/2023
£
£
£
£
£
£
44,069
-
-
-
-
44,069
20,538
21,095
(21,095)
-
-
20,538
-
6,000
(713)
-
-
5,287
64,607
27,095
(21,808)
-
-
69,894
1,905,502
1,356,322
(1,404,531)
-
74,745
1,932,038

Fund descriptions

a) Unrestricted funds

General Purpose Fund – this is a fund available at the discretion of the Trustees in respect of the furtherance of the objectives of the charity.

b) Designated funds

Trustee Designated Fund – this is a fund used to maintain and upgrade site facilities. A minimum fund limit has been set at £100,000 by the Trustees.

c) Restricted funds

Cat Building fund – this is a fund that will be used towards the cost of constructing a new kitten home in the name of Clara McMullan deceased.

Miscellaneous funds – funds received to assist with small projects.

Maureen Boal Charitable Trust – funds to go towards the building of a bespoke new soundproofed kennel block at the sanctuary.

28

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

21 Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets
Investments
Current assets
Creditors due in less than one year
Creditors due in more than one year
Total		 Unrestricted
funds
Designated
funds
Restricted
funds
Total
£
£
£
£
322,740
331,270
-
654,010
-
912,469
-
912,469
350,025
23,275
69,894
443,194
(77,635)
-
-
(77,635)
-
-
-
-
595,130
1,267,014
69,894
1,932,038

22 Reconciliation of net income to net cash flow from operating activities

Net income for year
Depreciation of tangible fixed assets
(Gains) / losses on investments
(Increase) / decrease in stock
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities		 2023
£
26,536
41,838
(75,177)
(3,638)
98,031
37,055
124,645		 2022
£
(277,566)
47,281
148,551
(59)
45,466
(53,458)
(89,785)

23 Financial commitments

There are no contractual commitments for the acquisition of tangible fixed assets contracted for but not provided in the financial statements at 31 December 2023.

24 Events after the end of the period

There are no adjusting or non-adjusting post balance sheet events.

25 Related party transactions

There were no related party transactions during the year.

29

E-Sign ID: 8b9264ba-8554-4cfe-b1cb-22593b35b6ba

The Friends of Assisi Animal Sanctuary

Notes to the Financial Statements

Year Ended 31 December 2023

26 Financial instruments

The carrying amounts of the charity’s financial instruments are as follows:

The carrying amounts of the charity’s financial instruments are as follows:
Financial assets
Measured at fair value
- Fixed asset listed investments (note 14)
Debt instruments measured at amortised cost:
- Debtors (note 16)
Financial liabilities
Measured at amortised cost
- Trade creditors and accruals etc (note 17)
- Other creditors (note 18)		 2023
£
912,469
912,469
92,627
92,627
77,635
-
77,635		 2022
£
813,988
813,988
190,658
190,658
40,580
-
40,580

There are no income, expenses, net gains and net losses attributable to the charity’s financial instruments.

30