REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
ANIMAL CARE IN EGYPT LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
ANIMAL CARE IN EGYPT LIMITED |
ANIMAL CARE IN EGYPT LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Statement of Financial Position | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
ANIMAL CARE IN EGYPT LIMITED (REGISTERED NUMBER: 03835294) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal area of benefit is Southern Egypt and the charitable objectives are: |
1) To relieve the suffering and distress of animals who are sick and in need of care and protection by reason of sickness or maltreatment in particular but not exclusively by the provision of horse and donkey centres in Egypt. |
2) To educate members of the public especially children on matters concerning animal welfare whilst working closely with the local authorities. |
Significant activities |
The activities of the charity include the provision of extensive veterinary hospitalisation with in-patient and out-patient facilities for both equine and domestic animals which includes 24 hour emergency treatment for all animals. Significant emphasis is based on education for all those that visit the centre. |
ACHIEVEMENT AND PERFORMANCE |
We would again like to thank BEVA and Rossdales for their continued support and again to Helen Collins voluntary admin assistance. |
In the first part of the year we were happy to welcome volunteers back until October with the onset of the Israeli and Palestine conflict. Many volunteers that had booked to come to ACE cancelled. We hope that we will be able to accommodate them at a later date. |
The redecoration of the visitor centre including a new in memorandum area and a new stable sponsorship area was completed this year. |
We continue to see animals from further afield making the journey to ACE keeping our team of 6 vets very busy. |
We are incredibly grateful to all our supporters and work hard to make good use of their donations. |
FINANCIAL REVIEW |
The net movement in funds for the year was a decrease of £105,315, compared to a decrease of £120,497 for the previous year. |
The Trustees regularly monitor and review the level of reserves. The Trustees consider a level of reserves equivalent to a minimum of six months unrestricted expenditure (adopted in accordance with Charity Commission guidelines), to be reasonable given the nature and scale of the charity's activities. |
The Trustees have reviewed the major risks to which the charity is exposed and are confident that controls are in place to mitigate those risks. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Animal Care in Egypt - ACE is a Charity with clear objectives and a high profile within Egypt since opening in July 2000. On a day to day basis the ACE Centre & Hospital continues to be managed by Ms Kim Taylor, who was involved in the initial concept and has managed the centre since it opened. The Trustee board has every confidence in Kim, and consults closely with her in major decisions and directions in which the Charity takes or needs to address. The Trustee's role is to ensure we are working within our financial constraints. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
ANIMAL CARE IN EGYPT LIMITED (REGISTERED NUMBER: 03835294) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Evans Weir |
The Victoria |
25 St Pancras |
Chichester |
West Sussex |
PO19 7LT |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ANIMAL CARE IN EGYPT LIMITED |
Independent examiner's report to the trustees of Animal Care In Egypt Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 |
4. | the accounts 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 accounts to be reached. |
Roger Swaffield |
Evans Weir |
The Victoria |
25 St Pancras |
Chichester |
West Sussex |
PO19 7LT |
31st July 2024 |
ANIMAL CARE IN EGYPT LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 567,512 |
ANIMAL CARE IN EGYPT LIMITED (REGISTERED NUMBER: 03835294) |
STATEMENT OF FINANCIAL POSITION |
31ST DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 567,512 |
TOTAL FUNDS | 567,512 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ANIMAL CARE IN EGYPT LIMITED (REGISTERED NUMBER: 03835294) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ANIMAL CARE IN EGYPT LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Equipment | 25% on reducing balance |
Buildings | 2% straight line |
A de minimus level of £250 has been set by the Charity for the capitalisation of assets. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty. |
Financial instruments |
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
ANIMAL CARE IN EGYPT LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022. |
Trustees' expenses |
2023 | 2022 |
£ | £ |
Trustees' expenses |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 567,512 |
ANIMAL CARE IN EGYPT LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
6. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1st January 2023 and 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
The land in Egypt is not owned by Animal Care in Egypt Limited but held in Trust for their use. A nominal rent for the land is charged in the accounts amounting to £775 (2022 - £1,360) |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 567,512 | (105,315 | ) | 462,197 |
TOTAL FUNDS | (105,315 | ) | 462,197 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 146,336 | (251,651 | ) | (105,315 | ) |
TOTAL FUNDS | ( |
) | (105,315 | ) |
ANIMAL CARE IN EGYPT LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
9. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 688,009 | (120,497 | ) | 567,512 |
TOTAL FUNDS | 688,009 | (120,497 | ) | 567,512 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 198,997 | (319,494 | ) | (120,497 | ) |
TOTAL FUNDS | 198,997 | (319,494 | ) | (120,497 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 688,009 | (225,812 | ) | 462,197 |
TOTAL FUNDS | 688,009 | (225,812 | ) | 462,197 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 345,333 | (571,145 | ) | (225,812 | ) |
TOTAL FUNDS | 345,333 | (571,145 | ) | (225,812 | ) |
ANIMAL CARE IN EGYPT LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
10. | RELATED PARTY DISCLOSURES |