greyhound rescue west of england 31-10-2014accswiz · nigel urwin david weeks (resigned 28 february...

Registered number: 06985367Charity number: 1131399

GREYHOUND RESCUE WEST OF ENGLAND

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2014

GREYHOUND RESCUE WEST OF ENGLAND(A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page

Reference and Administrative Details of the Charity, its Trustees and Advisers

1

Trustees' Report

2 - 7

Independent Auditors' Report

8 - 9

Statement of Financial Activities

10

Balance Sheet

11

Notes to the Financial Statements

12 - 19


REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERSFOR THE YEAR ENDED 31 OCTOBER 2014

Trustees Emily Burns-Sweeney (resigned 11 March 2015)Fiona CookeDaisy Kay-Taylor (resigned 11 March 2015)Jan Lake, ChairPeter Stevenson, Company SecretaryNigel UrwinDavid Weeks (resigned 28 February 2015)Patricia Wilder (appointed 21 March 2015)

Company registerednumber 06985367

Charity registerednumber 1131399

Registered office Channel HouseSouth RoadMidsomer NortonSomersetBA3 2EZ

Company secretary Peter Stevenson

Chief executive officer Rachel Grocott (on maternity leave from 31 October 2014)

Independent auditors Bishop Fleming LLPChartered AccountantsStatutory Auditors16 Queen SquareBristolBS1 4NT

Bankers Santander UK PLCBridle RoadBootleMerseysideGIR 0AA

Page 1


TRUSTEES' REPORTFOR THE YEAR ENDED 31 OCTOBER 2014

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annualreport together with the audited financial statements of Greyhound Rescue West of England (the charity) forthe year ended 31 October 2014. The Trustees confirm that the annual report and financial statements of thecharity comply with the current statutory requirements, the requirements of the charity's governing documentand the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting byCharities' issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Type of governing document: Memorandum and Articles of AssociationHow the charity is constituted: Limited Company METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Candidates for appointment as new Trustees are interviewed by the existing Trustees. If accepted, allcandidates are provided with copies of minutes from the previous four Trustee meetings, a copy of the lastaccounts and an update on the current financial situation, and are requested to read Charity Commissiondocumentation on the responsibilities of Trusteeship. Candidates must then confirm their willingness to beappointed and attend the next formal Trustee meeting.

David Weeks resigned from the Board on 28 February 2015. Also, since the year-end two Board membershave stood down for a temporary period (see 'Main Objectives and Performance for the Year' section below).A programme of trustee recruitment has recently been undertaken, and further appointments to the Board arelikely in the near future. ORGANISATIONAL STRUCTURE AND DECISION MAKING Greyhound Rescue West of England (GRWE) operates as a voluntary charity. Overall strategy and policydecisions are made by the Trustees. Trustees meet formally in Board meetings five times a year, but there arealso a number of less formal interactions via sub-committees, telephone conferences, ad hoc meetings, etc.An annual Volunteer Conference is held, which helps to cement the charity's effective working across the wholerange of its activities.

The charity operates nationally across England and parts of Wales, from as far north as Lancashire, stretchingto Cornwall in the south. The charity’s activities also cover parts of central and eastern England down to Kentin the south east.

Activity is divided into the following regions:

• Midlands & North West (including Cheshire, Lancashire, Staffordshire, North Wales and Shropshire)

• Cornwall

• Devon

• Dorset, Hampshire & Isle of Wight

• Eastern (which includes Bedfordshire, Buckinghamshire and Hertfordshire)

• Gloucestershire

• Herefordshire & Worcestershire

• Somerset & Wiltshire (which also covers Bristol)

• South East (Kent, Sussex and Surrey)

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TRUSTEES' REPORT (continued)FOR THE YEAR ENDED 31 OCTOBER 2014

In each of these regions, kennel spaces at commercial kennels are rented to facilitate the intake of dogs as thecharity does not own its own kennels. Each region may also have a number of foster homes where dogs areplaced for assessment and care whilst awaiting a suitable home. Rehoming activities are co-ordinated in thefirst instance by a Regional Homing Officer who is in control of day to day operating decisions. They aresupported by a network of local volunteers who assist with day to day rescue, rehoming, transport, fundraisingand communications for the area. There is also a national network of volunteers supporting specific areas ofactivity in the regions, and bringing together the different parts of the charity as a cohesive whole.

GRWE has developed a Behaviour Support Team (BST) which supports people who home dogs. The experthelp provided by members of the BST, who are qualified behaviourists, contributes to the success the charityenjoys with the dogs it has homed. The very low return rate of 4.8% - much lower than the sector average - istestament to the preparatory work carried out by the homing teams, and the sterling work carried out by theBST.

GRWE is a member of the Association of Dogs and Cats Homes (ADCH). It also has a seat at the UKGreyhound Forum, which is chaired by The Dogs Trust and made up of representatives from the greyhoundracing industry and welfare organisations. The Forum meets twice a year to discuss welfare issues anddevelopments within the industry.

GRWE works alongside the RSPCA and a number of local authorities to ensure compliance with the AnimalWelfare Act and support executive action. As highlighted in last year's objectives, GRWE is looking forward totaking an active and leading role in DEFRA's 5 year review of the Welfare of Racing Greyhounds Regulation2010 which will take place in Spring/Summer 2015.

Locally, the charity seeks to foster relationships with local authority dog wardens and dog pounds to giveaccess to unclaimed stray greyhounds and lurchers.

There are a large number of groups working in the UK for the welfare of unwanted greyhounds and lurchers.These range in size from large registered charities rehoming many hundreds of dogs each year to individualsworking from home with a few dogs at a time. GRWE has contact with many of these groups and individuals.It has a policy of assisting those people where there are established links and where the people's aims are inline with GRWE's charitable objectives. This often takes the form of accepting rescued dogs from them forrehoming by GRWE, especially where those dogs come from areas with a high number of abandoned orunwanted dogs. The charity also assists rescue groups in Ireland and North East England, where the situationwith abandoned and unwanted greyhounds and lurchers is very acute. There are no formal agreements withany such parties, nor any financial obligations.

From the information available to the Trustees, it is believed that GRWE continues to be the largest charity(measured by kennel space numbers and rehoming numbers), independent of the Greyhound Racing industry,in the UK specifically engaged in the rescue and rehoming of greyhounds and lurchers. RISK MANAGEMENT The Trustees consider that it is very unlikely for greyhound racing to be banned or to reduce in popularitydramatically in the foreseeable future. Due to an increase in the number of lurchers being bred for working andtheir subsequent abandonment, GRWE rescues approximately equal numbers of greyhounds and lurchers.The trustees believe that there will continue to be a large number of unwanted dogs and consequently demandfor its work in accordance with GRWE's objectives.

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In pursuing the charity's objectives, the Trustees recognise that there are a number of risks inherent in theoperation of the charity; a full review of key risks was undertaken in 2013/14, and signed off by the Board inApril 2014. The principal identified risks, which the charity already manages, are:

(i) Kennels (ii) Homing issues(iii) Negative publicity (iv) Volunteers/Trustees being overstretched(v) Finance and Reserves(vi) Fraud, Misappropriation of Assets and Money Laundering

OBJECTIVES AND ACTIVITIES

The charity has two principal objects:

• to relieve the suffering of greyhounds and lurchers who are in need of care and protection, in particular

by rescue, rehabilitation and homing, or by the provision and maintenance, or assisting in the provision

and maintenance, of kennels and other facilities for the reception and care of greyhounds and lurchers

who are retired and unwanted or who are otherwise in need of care and protection;

• to advance the education of the public in matters relating to the welfare of greyhounds and lurchers and

the prevention of cruelty and suffering among such dogs.

GRWE aims to rescue and home approximately 500 dogs per annum. Within that number the Trustees alsoaim for quality of placement, to minimise the number of unsuccessful homings and consequently the number ofdogs returned to the charity. The Trustees continue to look at opportunities to build volunteer support in newareas with a view to increasing awareness of GRWE’s activities and hence homing opportunities.

The charity also seeks to improve the general welfare standards within the greyhound racing industry throughinput to the UK Greyhound Forum and through dialogue with the government on improvements in welfarelegislation and enforcement.

The charity does not make grants or provide any other assets to outside bodies.

Public benefit

Trustees have referred to the guidance contained in the Charity Commission’s general guidance on publicbenefit when reviewing the charity's aims and objectives. All of these aims are undertaken to further theobjectives for the public benefit.

Main objectives and performance for the year

Over our last financial year, 1 November 2013 to 31 October 2014, GRWE found loving homes for 455 dogs.Although a decrease of some 50 dogs compared to the previous year, this is a substantial achievement in atough environment; encouragingly, the homing figures were much stronger in the second half of the year.

The economic climate in which all charities operate means that homing is an ongoing challenge. The demandfor us to take in more dogs has continued to increase over the last year, with many individuals and familieshaving to give up dogs for financial reasons. Home offers, however, are fewer in number than in previousyears, and dog ownership as a whole is down across the country. Our work with other charities shows theclimate to be equally as tough for most organisations.

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As more dogs have arrived in our care with a range of physical and mental injuries, our costs for veterinarytreatment and care have escalated. In particular, the enforcement of Rule 18 (a regulation around responsiblere-homing of ex-racing greyhounds) means that dogs who may previously have been put to sleep as a result ofracing injuries are now increasingly coming into rescue. That more of these dogs now have a chance of life in ahappy home is very positive, but also means our veterinary costs have increased. And with fewer home offers,all dogs have generally spent longer in kennels than in previous years, with a corresponding impact on ourkennel costs.

To have found loving homes for over 450 dogs, then, is a real achievement. Once again, our return rate (thenumber of dogs returned to kennels after a homing) also remains a testament to the care our homing teamstake in matching the right dog to the right home, standing at just 4.8% (2013: 5.8%) for the year across all ourregions. The charity remains extremely grateful to all those volunteers who dedicate their time and expertise toproviding exemplary levels of care for our dogs. We have undergone a period of substantial change in the last year, as our first member of staff, CEO RachelGrocott, went on maternity leave from 31 October 2014. An interim CEO, Lisa Morris-Tompkins, was appointedto cover during Rachel's absence, but after three successful months with the charity, she left to take up a CEOrole with another major animal charity. The trustees decided in January that it was not sensible to seek torecruit another interim CEO for a very short period; accordingly in accordance with procedures required underthe Charities Act, the trustees agreed that two of their number, Emily Burns-Sweeney and Daisy Kay-Taylor,who had offered their services, resigned as trustees, and having taken no part in the decision-taking process,would supply certain operational services for the remainder of Rachel's maternity leave.

Fundraising

We have had another very successful fundraising year, and once again express our thanks to all our donorsand to the volunteers and supporters who have helped to raise funds over the last year. Community fundraisersup and down the country have held numerous events and street collections, raising not just money but alsoraising awareness of the plight of greyhounds and lurchers in need. Funds raised from our merchandise,Friends and Sponsor a Dog schemes, and the 50:50 club have all increased in the last year.

A grant of £20,000 from Support Adoption for Pets received after the year-end and a potential long-termpartnership with another charitable trust has enabled us to plan for the replacement of all our older vans, andso provide a more reliable and efficient service. The vans are not only used for rescuing and transporting dogs,but also support the event and homing teams, carrying kit, volunteers and hounds as they attend events acrossthe regions to raise funds and showcase the dogs awaiting homes.

There have again been a number of very generous legacies to the charity in the year, and this has enabled usto plan the longer-term investment of some of our legacy funds to produce a higher rate of return for the benefitof the charity's operations (see 'Reserves and Investment' below). We have also benefited from wonderfulsupport from our Patron and Honorary Friends. FINANCIAL REVIEW The charity achieved a surplus of £119,126 for the year (2013: £98,662), which has resulted in total funds of£552,585 (2013: £433,459).

Homing donations continue to be a significant source of income £84,562 (2013: £85,038), in addition to generaldonations of £78,209 (2013: £76,735), events and street collections of £44,083 (2013: £44,793) and legacies of£167,000 (2013: £87,348). These income streams are dependent on the generosity of the public and the hardwork of GRWE's many volunteers; trustees remain overwhelmed by the kindness and dedication of all thecharity's supporters.

During the period, the charity received significant legacies from the estates of Charles Valentine Hedley, MaryConstance Ransome, Dr Elizabeth Rhind, Bryan Charles Smith, and after year-end from the estate of JohnFrederick Goulding.

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Grants of £5,000 and over were received in the year from the Hobhouse Animal Trust, Support Adoption forPets and the Bailey Will Trust, the latter two restricted funds to support vet costs.

Reserves and investment

In accordance with Charity Commission guidance, the Trustees’ policy is to aim for reserves equal to at leastsix months of normal expenditure. At the end of the period reserves were just over twelve months’ normalexpenditure, primarily because of legacies received in the year, and also grants towards the employment of theChief Executive Officer. Since the year-end, Trustees have taken steps to invest part of the legacy incomereceived over the past five years on a longer-term basis in order to improve the total return on the charity'ssurplus funds. PLANS FOR THE FUTURE The charity's key aims during the next financial year are:

1. OPERATIONS

The greatest area of risk to homing is the lack of volunteer resources and succession planning for regionalhoming officers and the homing teams. Greater attention will be paid to this area across all regions, to ensureregional stability and growth. Training will be given for dog behaviour assessments, dog handling, volunteerinduction and management, animal husbandry and disease control. PR, Events and Social Media teams will befurther developed to facilitate stronger pipelines of home offers.

We do not wish to set a specific numerical homing target for 2014/15, as we are increasingly required tosupport dogs with long-term mental and physical issues, and this impacts on our homing numbers; GRWE areseen as exemplars and the first line of defence for needy hounds. We need to care for these dogs, no matterwhat their condition, and it is apparent that we can no longer rely on the natural volume of home offers we havehistorically generated.

External welfare should be a large part of our work, but will need additional resources to develop and deliverGRWE messages concerning greyhound and lurcher welfare in the UK. The way GRWE microchips its dogswill need to change to meet regulations imposed upon us, placing a greater administrative burden on homingteams and potential extra cost on the charity. The charity will be investing in additional training of the volunteerforce to manage the new arrangements in relation to GRWE as Appointed Representatives of Pet Planinsurance. The partnership with Pet Plan is beneficial to the charity and enables new owners to benefit from 4weeks free insurance and, increasingly unusually, includes awarding cover for dogs over 8 years in age.

2. RESOURCES

As indicated above, we need to recruit additional trustees and volunteers, and to put in place longer-termarrangements for a fully resourced staff team of CEO and support staff. These and other resource issues willbe taken forward by the Finance & Governance subcommittee as part of the planning for the future investmentof the charity's resources.

3. FUNDRAISING

Fundraising will remain an ongoing challenge for the charity, to ensure an adequate supply of funding toaddress the operations and resource needs described at 1 and 2 above. We will develop fundraising to hit firmbudget targets and in addition we will progress the following objectives, which had to be delayed or modifieddue to lack of resource in 2013/14:

Page 6



(a) Explore the establishment of a trading subsidiary;(b) Encourage more home offers using all communications channels, making full use of our enhanced

website, and(c) Research and develop a plan for updating the charity’s name and identity, in order to generate more

home offers and raise more money. TRUSTEES' RESPONSIBILITIES STATEMENT The Trustees (who are also directors of Greyhound Rescue West of England for the purposes of company law)are responsible for preparing the Trustees' Report and the financial statements in accordance with applicablelaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company lawthe Trustees must not approve the financial statements unless they are satisfied that they give a true and fairview of the state of affairs of the charitable company and of the incoming resources and application ofresources, including the income and expenditure, of the charitable company for that period. In preparing thesefinancial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; • make judgments and accounting estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards have been followed, subject to any material

departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that

the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explainthe charitable company's transactions and disclose with reasonable accuracy at any time the financial positionof the charitable company and enable them to ensure that the financial statements comply with the CompaniesAct 2006. They are also responsible for safeguarding the assets of the charitable company and hence fortaking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charitable company's

auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of

any information needed by the charitable company's auditors in connection with preparing their report

and to establish that the charitable company's auditors are aware of that information. In preparing this report, the Trustees have taken advantage of the small companies exemptions provided bysection 415A of the Companies Act 2006.

This report was approved by the Trustees on 29 May 2015 and signed on their behalf by:

Jan Lake Chair

Peter StevensonTreasurer

Page 7


INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREYHOUND RESCUE WEST OFENGLAND

We have audited the financial statements of Greyhound Rescue West of England for the year ended 31October 2014 set out on pages 10 to 19. The financial reporting framework that has been applied in theirpreparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008)(United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities). This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 ofPart 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to thecharitable company's members those matters we are required to state to them in an Auditors' Report and forno other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyoneother than the charitable company and its members, as a body, for our audit work, for this report, or for theopinion we have formed. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors ofthe charitable company for the purposes of company law) are responsible for the preparation of the financialstatements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicablelaw and International Standards on Auditing (UK and Ireland). Those standards require us to comply with theAuditing Practices Board's Ethical Standards for Auditors. SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient togive reasonable assurance that the financial statements are free from material misstatement, whether causedby fraud or error. This includes an assessment of: whether the accounting policies are appropriate to thecompany's circumstances and have been consistently applied and adequately disclosed; the reasonablenessof significant accounting estimates made by the Trustees; and the overall presentation of the financialstatements. In addition, we read all the financial and non-financial information in the Trustees' Report toidentify material inconsistencies with the audited financial statements and to identify any information that isapparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in thecourse of performing the audit. If we become aware of any apparent material misstatements or inconsistencieswe consider the implications for our report.

OPINION ON FINANCIAL STATEMENTS In our opinion the financial statements: • give a true and fair view of the state of the charitable company's affairs as at 31 October 2014 and of its

incoming resources and application of resources, including its income and expenditure, for the year then

ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting

Practice applicable to Smaller Entities; and

• have been prepared in accordance with the requirements of the Companies Act 2006. OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion the information given in the Trustees' Report for the financial year for which the financialstatements are prepared is consistent with the financial statements.

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREYHOUND RESCUE WEST OFENGLAND

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Companies Act 2006 requires us toreport to you if, in our opinion: • adequate accounting records have not been kept, or returns adequate for our audit have not been

received from branches not visited by us; or • the financial statements are not in agreement with the accounting records and returns; or • certain disclosures of trustees' remuneration specified by law are not made; or • we have not received all the information and explanations we require for our audit; or • the Trustees were not entitled to prepare the financial statements in accordance with the small

companies regime and to take advantage of the small companies' exemption from the requirement to

prepare a Strategic Report or in preparing the Trustees' Report.

David Butler FCA DChA (Senior Statutory Auditor)for and on behalf ofBishop Fleming LLPChartered AccountantsStatutory Auditors16 Queen SquareBristolBS1 4NT9 June 2015

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STATEMENT OF FINANCIAL ACTIVITIES(Incorporating Income and Expenditure Account)FOR THE YEAR ENDED 31 OCTOBER 2014

Restrictedfunds

Unrestrictedfunds

Totalfunds

Totalfunds

Note2014

£2014

£2014

£2013

£

INCOMING RESOURCES

Incoming resources from generated funds: Voluntary income 2 43,880 338,245 382,125 314,457 Activities for generating funds: Fundraising income 3 819 82,323 83,142 86,149 Non-dog merchandise sales - 34,476 34,476 36,450 Investment income - 4,809 4,809 1,976Incoming resources from charitable activities 4 - 175,271 175,271 177,112

TOTAL INCOMING RESOURCES 44,699 635,124 679,823 616,144

RESOURCES EXPENDED

Costs of generating funds: Costs of generating voluntary income - 23,655 23,655 11,187 Fundraising expenses and other costs 5 - 24,176 24,176 27,065Charitable activities 6 44,802 458,339 503,141 471,940Governance costs 7 - 9,725 9,725 7,290

TOTAL RESOURCES EXPENDED 44,802 515,895 560,697 517,482

MOVEMENT IN TOTAL FUNDS FOR THEYEAR - NET INCOME/(EXPENDITURE)FOR THE YEAR (103) 119,229 119,126 98,662

Total funds at 1 November 2013 8,986 424,473 433,459 334,797

TOTAL FUNDS AT 31 OCTOBER 2014 12 8,883 543,702 552,585 433,459

All activities relate to continuing activities.

The notes on pages 12 to 19 form part of these financial statements.

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(A COMPANY LIMITED BY GUARANTEE)REGISTERED NUMBER: 06985367

BALANCE SHEETAS AT 31 OCTOBER 2014

2014 2013Note £ £ £ £

FIXED ASSETS Tangible assets 9 16,684 13,245 CURRENT ASSETS Stocks 17,861 19,607 Debtors 10 36,289 39,375 Cash at bank 532,102 403,457

586,252 462,439 CREDITORS: amounts falling due within

one year 11 (50,351) (42,225)

NET CURRENT ASSETS 535,901 420,214

NET ASSETS 552,585 433,459

CHARITY FUNDS Restricted funds 12 8,883 8,986 Unrestricted funds 12 543,702 424,473

TOTAL FUNDS

552,585 433,459

The financial statements have been prepared in accordance with the provisions applicable to small companieswithin Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for SmallerEntities (effective April 2008).

The financial statements were approved by the Trustees on 29 May 2015 and signed on their behalf, by:

Jan LakeChair

Peter StevensonTreasurer

The notes on pages 12 to 19 form part of these financial statements.

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NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 OCTOBER 2014

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention, with theexception of investments which are included at market value, and in accordance with the FinancialReporting Standard for Smaller Entities (effective April 2008). The financial statements have beenprepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting andReporting by Charities' published in March 2005, applicable accounting standards and theCompanies Act 2006.

1.2 COMPANY STATUS

The charity is a company limited by guarantee. The members of the company are the Trusteesnamed on page 1. In the event of the company being wound up, the liability in respect of theguarantee is limited to £1 per member of the company.

1.3 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees infurtherance of the general objectives of the charity and which have not been designated for otherpurposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed bydonors or which have been raised by the charity for particular purposes. The costs of raising andadministering such funds are charged against the specific fund. The aim and use of each restrictedfund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.4 INCOMING RESOURCES

All incoming resources are included in the Statement of Financial Activities when the company hasentitlement to the funds, certainty of receipt and the amount can be measured with sufficientreliability. For legacies, entitlement is the earlier of the charity being notified of an impendingunconditional distribution or the legacy being received.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant isrecognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investmentincome is receivable.

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1. ACCOUNTING POLICIES (continued)

1.5 RESOURCES EXPENDED

Expenditure is accounted for on an accruals basis and has been included under expense categoriesthat aggregate all costs for allocation to activities. Where costs cannot be directly attributed toparticular activities they have been allocated on a basis consistent with the use of the resources.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitiesand services for its beneficiaries. It includes both costs that can be allocated directly to suchactivities and those costs of an indirect nature necessary to support them.

Governance costs are those incurred in connection with administration of the company andcompliance with constitutional and statutory requirements.

All resources expended are inclusive of irrecoverable VAT.

1.6 GOING CONCERN

The charity has cash resources and has no current requirement for external funding. The Trusteeshave a reasonable expectation that the charity has adequate resources to continue in operationalexistence for the foreseeable future. They continue to believe the going concern basis of accountingappropriate in preparing the annual financial statements.

1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

All assets costing more than £250 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at ratescalculated to write off the cost of fixed assets, less their estimated residual value, over theirexpected useful lives on the following bases:

Motor vehicles - 4 years straight lineOffice equipment - 3 years straight lineOther fixed assets - 4 years straight line

1.8 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance forobsolete and slow-moving stocks.

1.9 TAXATION

As a charity, the company is not normally liable to corporation tax and has incurred no charge forthis year.

1.10 VAT

The charity is registered for VAT purposes and all figures are stated net of any VAT in the financialstatements.

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2. VOLUNTARY INCOME

Restrictedfunds

Unrestrictedfunds

Totalfunds

Totalfunds

2014£

2014£

2014£

2013£

General donations - 78,209 78,209 76,735Grants - 24,000 24,000 43,126Legacies - 167,000 167,000 87,348Collections at events - 44,083 44,083 44,793Other grants and donations 43,880 24,953 68,833 62,455

43,880 338,245 382,125 314,457

3. FUNDRAISING INCOME

2014 £

2013 £

50/50 club 7,662 6,450Raffles and draws 9,960 10,243Sponsorship events 6,749 -Commission 17,670 16,218Friends subscriptions 20,753 25,380Sponsor a dog subscriptions 19,529 27,594Sponsor vet care 361 -Sponsor kennel space 458 264

83,142 86,149

4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

2014 £

2013 £

Sales of dog merchandise 63,599 58,739Homing donations 84,562 85,038Dog intake donations 18,410 19,215Homing fees 8,700 14,120

175,271 177,112

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5. FUNDRAISING AND OTHER EXPENSES

2014 £

2013 £

Costs of generating fundraising income

50/50 club 3,593 3,267Raffle and draw costs 1,014 430Marketing materials 6,823 8,067

Merchandise costs

11,430

11,764

Non-dog merchandise costs 12,746 15,301

24,176 27,065

6. CHARITABLE ACTIVITIES

2014 £

2013 £

Kennel costs 155,169 165,028Veterinary costs 80,592 102,591Advertising, publicity and information leaflets 8,799 2,873Dog related merchandise costs 39,946 34,053Postage, printing and stationery 6,282 11,317Motor expenses 21,181 19,432Bookkeeping and administration 70,432 63,190Staff costs 64,436 45,979Telephone 3,280 2,724Computer expenses 24,542 3,213Travelling costs 12,086 9,202Insurance 3,046 2,743Bank charges 5,815 4,103Bad debt (379) -Rent and rates 1,116 196Training 185 785Depreciation 6,613 5,636Profit on sale of fixed assets - (1,125)

503,141 471,940

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7. GOVERNANCE COSTS

Totalfunds

Totalfunds

2014£

2013£

Auditors remuneration:Audit costs 5,640 4,100

Non audit costs - VAT advice - 550Legal and professional fees - 150Trustees' expenses for 4 Trustees (2012: 5) 4,085 2,490

9,725 7,290

The Trustees received expenses for reimbursement of travel and meeting costs.

No Trustee received any remuneration (2013: £Nil).

8. STAFF COSTS

Staff costs were as follows:

2014 2013 £ £

Wages and salaries 59,221 41,250Social security costs 4,384 4,729Pension costs 831 -

64,436 45,979

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

2014 2013 No. No.

Management 1 1

No employee received remuneration amounting to more than £60,000 in either year.

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9. TANGIBLE FIXED ASSETS

Motorvehicles

Officeequipment

Other fixedassets Total

£ £ £ £

COST

At 1 November 2013 39,596 4,188 7,773 51,557Additions 7,250 1,007 1,795 10,052

At 31 October 2014 46,846 5,195 9,568 61,609

DEPRECIATION

At 1 November 2013 28,560 3,982 5,770 38,312Charge for the year 5,201 289 1,123 6,613

At 31 October 2014 33,761 4,271 6,893 44,925

NET BOOK VALUE

At 31 October 2014 13,085 924 2,675 16,684

At 31 October 2013 11,036 206 2,003 13,245

10. DEBTORS

2014 2013 £ £

Gift aid dueVAT refund

17,88911,465

35,7141,084

Prepayments and accrued income 6,935 2,577

36,289 39,375

11. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR

2014 2013 £ £

Trade creditors 41,867 36,701Other taxation and social security 2,944 1,424Accruals and deferred income 5,540 4,100

50,351 42,225

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12. STATEMENT OF FUNDS

UNRESTRICTED FUNDS Broughtforward

£

Incomingresources

£

Resourcesexpended

£

Carriedforward

£

General Funds 424,473 635,124 (515,895) 543,702

424,473

635,124

(515,895)

543,702

RESTRICTED FUNDS

Van purchase

Jean Sainsbury Animal Welfare Trust 8,986 - (2,244) 6,742Van donations - 2,390 (249) 2,141

Veterinary fees and kennelling

Support Adoption for Pets - 10,000 (10,000) -Bailey Will Trust Grant - 10,000 (10,000) -Christmas appeal - 7,158 (7,158) -New Life appeal - 9,951 (9,951) -Other restricted donations - 5,200 (5,200) -

8,986

44,699

(44,802)

8,883

Total of funds 433,459 679,823 (560,697) 552,585

Van purchaseThe van purchase funds relate to donations towards the purchase of vans and their running costs.Expenditure represents depreciation and running costs on the vans purchased.

Veterinary fees and kennellingSupport Adoption for Pets is a donation to support the kennel and veterinary costs of the charity.

Bailey Will Trust is a donation towards veterinary costs.

Christmas appeal represents funds restricted to costs of kennels.

New Life appeal represents funds to veterinary costs.

Other private donations, including the sponsorship for vets and kennels, have been received forveterinary fees, in some instances allocated to specific regions, and kennelling costs.

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13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restrictedfunds

Unrestrictedfunds

Totalfunds

Totalfunds

2014£

2014£

2014£

2013£

Tangible fixed assets 8,883 7,801 16,684 13,245Current assets - 586,252 586,252 462,439Creditors due within one year - (50,351) (50,351) (42,225)

8,883 543,702 552,585 433,459

14. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are heldseparately from those of the company in an independently administered fund. The pension cost chargerepresents contributions payable by the charity to the fund and amounted to £831 (2013: £Nil).Contributions totalling £Nil (2013: £Nil) were payable to the fund at the balance sheet date.

15. CONTROLLING PARTY

The company is under joint control of the Trustees. There is no ultimate controlling party.

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greyhound rescue west of england 31-10-2014accswiz · nigel urwin david weeks (resigned 28 february...

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