Charity registration number 1142700
Company registration number 7382889 (England and Wales)
NETWORK FOR ANIMALS CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NETWORK FOR ANIMALS CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
G Davies
L Barritt
L A Busby
G J Cohen
(Appointed 18 May 2023)
Charity number
1142700
Company number
7382889
Independent examiner
Begbies
9 Bonhill Street
London
EC2A 4DJ
NETWORK FOR ANIMALS CHARITABLE TRUST
CONTENTS
Page
Directors' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Statement of financial position
5
Notes to the financial statements
6 - 9
NETWORK FOR ANIMALS CHARITABLE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

The directors, who also act as trustees of Network for Animal Charitable Trust, present their report and accounts for the year ended 30 November 2023.

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).

 

Objectives and activities

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.

Achievements and performance

The charity is involved in animal welfare campaigns in 26 countries. Among its significant activities are:

Financial review

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 30 November 2023 were £205,201 (2022 - £245,851) 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.

 

NETWORK FOR ANIMALS CHARITABLE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Structure, governance and management

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:

G Davies
A Severson
(Resigned 15 November 2023)
L Barritt
L A Busby
G J Cohen
(Appointed 18 May 2023)

New directors are briefed on their legal obligations under Charity Law and the Charity Commission guidance on public benefit.

 

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

 

The directors' report was approved by the Board of Directors.

L Barritt
Director
16 August 2024
NETWORK FOR ANIMALS CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF NETWORK FOR ANIMALS CHARITABLE TRUST
- 3 -

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 2023.

Responsibilities and basis of report

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.

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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

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

4

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.

Christopher Bates FCA
Begbies Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
Dated: 16 August 2024
NETWORK FOR ANIMALS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
224,357
233,868
Investments
4
5,304
348
Total income
229,661
234,216
Expenditure on:
Charitable activities
5
270,310
230,496
Total expenditure
270,310
230,496
Net income/(expenditure) and movement in funds
(40,649)
3,720
Reconciliation of funds:
Fund balances at 1 December 2022
245,850
242,131
Fund balances at 30 November 2023
205,201
245,851

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NETWORK FOR ANIMALS CHARITABLE TRUST
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
206,701
247,351
Creditors: amounts falling due within one year
9
(1,500)
(1,500)
Net current assets
205,201
245,851
The funds of the charity
Unrestricted funds
205,201
245,851
205,201
245,851

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the directors on 16 August 2024
L Barritt
Director
Company registration number 7382889 (England and Wales)
NETWORK FOR ANIMALS CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
1
Accounting policies
Charity information

Network For Animals Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 24, Christchurch Close, London, SW19 2NZ.

1.1
Accounting convention

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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.

1.3
Charitable funds

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.

1.4
Income

Cash donations and legacies are recognised on receipt.

1.5
Expenditure

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.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, other short-term liquid investments.

Basic financial assets

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

NETWORK FOR ANIMALS CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 7 -
Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

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.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
13,876
82,209
Legacies receivable
210,481
151,659
224,357
233,868
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
5,304
348
NETWORK FOR ANIMALS CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
5
Charitable activities
2023
2022
£
£

Animal welfare

11,774
11,639
Grant funding of activities
120,000
150,000
Donations to animal welfare organisations
135,528
66,852
Support costs
653
548
Governance costs
2,355
1,457
270,310
230,496

Included in governance costs is £1,440 (2022 £1,422) payable to the external examiner.

 

6
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7
Employees
There were no employees other than the directors.
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals
1,500
1,500
10
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 December 2022
Incoming resources
Resources expended
At 30 November 2023
£
£
£
£
General funds
245,850
229,661
(270,310)
205,201
NETWORK FOR ANIMALS CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
10
Unrestricted funds
(Continued)
- 9 -
Previous year:
At 1 December 2021
Incoming resources
Resources expended
At 30 November 2022
£
£
£
£
General funds
242,131
234,216
(230,496)
245,851
11
Related party transactions

During the year £120,000 (2022: £150,000) of grants were provided to Network for Animals Limited, a company with the same directors, as part of its charitable activities.

 

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