NETWORK_FOR_ANIMALS_CHARI - Accounts
NETWORK_FOR_ANIMALS_CHARI - Accounts
The directors, who also act as trustees of Network for Animal Charitable Trust, present their report and accounts for the year ended 30 November 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust deed, the Companies Act 2006, the Charities Act 2011 and “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).
The object of the charity and the principal activity of the company is to improve animal welfare around the world, in multi-faceted ways, to alleviate animal suffering by direct action and to increase awareness of the public and decision makers about matters of animal welfare and environmental concern.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public benefit
In planning the company's activities for the year, the directors confirm that the company has given due regard to the Charity Commission's legislative and regulatory requirements to comply with Section 17 of the Charities Act 2011. This report outlines how the company's achievements during the year have benefited the public.
The charity is involved in animal welfare campaigns in 26 countries. Among its significant activities are:
The provision of five animal ambulances and animal rescue vehicles to evacuate animals from war zones in Ukraine,
The financing of construction for animal shelters in Ukraine and Poland for the housing and care of animals rescued from the war zones.
Regular distribution of food for abandoned animals in urban Ukrainian areas destroyed by warfare.
In the city of Trebinje, undertaking the construction and finance of Herzegovina’s first state-of-the-art dog shelter.
Bringing water and shelter to 1,000 donkeys at the Mirongoine rural market in Tanzania.
Relocating 200 abused donkeys from Jordan to a French haven.
Continuing work to end the Chinese donkey skin trade, which threatens the survival of the equines in many places.
Successfully relocating more than 300 dogs from a Croatian animal shelter closed by authorities.
The care of more than 4,500 street dogs every month around the world, including those animals in shelters and through feeding programmes, those on the streets.
Mass spay and neuter campaigns to help cats in Kenya and Greece.
The results for the year are set out on 4.
It is the policy of the charity that the reserves should provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The reserves as at 31 November 2022 were £245,851 (2021 £242,131) held in unrestricted funds. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities for a significant time and ensure ongoing projects are supported.
The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 17 June 2011 as amended.
The directors who served during the year and up to the date of signature of the financial statements were:
New directors are briefed on their legal obligations under Charity Law and the Charity Commission guidance on public benefit.
The directors' report was approved by the Board of Directors.
I report to the directors on my examination of the financial statements of Network For Animals Charitable Trust (the charity) for the year ended 30 November 2022.
As the directors of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
INCLUDING INCOME AND EXPENDITURE ACCOUNT
Network For Animals Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Bonhill Street, London EC2A 4DJ
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The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The funds of the charity are classified as general and are all unrestricted and expendable at the discretion of the Trustees in furtherance of the objects of the charity.
Cash donations are recognised on receipt.
Legacies are recognised on receipt .
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Cash and cash equivalents include cash in hand, deposits held with banks, other short-term liquid investments.
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.
Basic financial Liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Animal welfare
Included in governance costs is £1,422 (2021 £1,440) payable to the external examiner.
During the year £150,000 (2021 £220,000) of grants were provided to Network for Animals Limited, a company with the same directors, as part of its charitable activities.