Page 18 - Animal Care Trust Annual Review 2018-2019

FINANCIAL REVIEW
Overall ACT income increased by 61% to £1,485k (2018: £924k) largely thanks to a significant increase in legacy income to £889k (2018: £258k) although there was a decrease of 17% in donation income to £397k (2018: £478k). Investment income increased from £53k to £101k. Income from other trading activities decreased by 83% to £11k (2018: £63k); due to the Trusts decision to withdraw from this activity in financial year 2017-18 having evaluated the income from these activities against the true costs.
Charitable expenditure for the year increased by £919k to £1,476k largely because of the final completion of a number of large scale projects such as the installation of the RVC’s new CT scanner. Throughout the year we maintained tight control over fundraising costs which increased by 16% to £275k. Changes in expenditure are monitored by the provision of regular budgeting reports to management.
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2019
Income and endowments from:
Donations
Legacies
Donated services and facilities Other trading activities Investments
Total income
Expenditure on:
Raising voluntary income Fundraising trading
Charitable activities Investment management costs Donated services and facilities
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Net movement in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
1
Note
Unrestricted Restricted Endowment 2019 Total Funds Funds Funds
£000 £000 £000 £000
125 272 397 281 608 889 87 87 11 11 11 88 2 101
515 968 2 1,485
(275) (275)
(362) (1,110) (4) (1,476) (1) (12) (13) (87) (87)
(725) (1,122) (4) (1,851)
110 (26) (2) 82
(100) (180) (4) (284) (100) (180) (4) (284)
1,234 2,704 19 3,957
1,134 2,524 15 3,673
2018 Total
£000
478
258
72
63
53
924
(237) (41) (557) (19) (72)
(926)
284
(282) (282)
3,675
3,957
All activities derive from continuing operations.
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