Charity registration number: 1008081
## Kingswood Equestrian Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2025
## **Kingswood Equestrian Trust**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2|
|Statement of Trustees' Responsibilities|3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 11|
## **Kingswood Equestrian Trust**
## **Reference and Administrative Details**
**Trustees** Robert Lickley Gemma Griffiths **Charity Registration Number** 1008081 **Principal Office** Kingswood Lodge County Lane Albrighton Wolverhampton WV7 3AH **Independent Examiner** Bissell & Brown (Midlands) Ltd Chartered Certified Accountants Charter House 56 High Street Sutton Coldfield B72 1 UJ
Page 1
## **Kingswood Equestrian Trust**
## **Trustees' Report**
## **Objectives and activities**
## _**Objects and aims**_
Promotion of equestrian sport for the purpose of sport and physical recreation. Promotion of equestrian training to disadvantaged, minority and youth groups. Equestrain education through demonstrations, clinics or training seminars. Provision of sanctuary facilities and care for retired equines.
## _**Public benefit**_
In the exercise of their powers as charity trustees, the trustees have had due regard to the published guidance from the charity commission on the operation of the public benefit requirement; and the aims of the charity are carried out for public benefit.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is constituted by Trust deed dated 16th January 1992.
## _**Recruitment and appointment of trustees**_
The trustees report with sadness the death of Mary Lickley on 26th January 2024
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Robert Lickley Trustee
Page 2
## **Kingswood Equestrian Trust**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial 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 judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Robert Lickley Trustee
Page 3
## **Kingswood Equestrian Trust**
## **Independent Examiner's Report to the trustees of Kingswood Equestrian Trust**
I report to the trustees on my examination of the accounts of Kingswood Equestrian Trust for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of Kingswood Equestrian Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Kingswood Equestrian Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material 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 Kingswood Equestrian Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
...................................... Paul Matthews FCCA Chartered Certified Accountants Bissell & Brown (Midlands) Ltd
Charter House 56 High Street Sutton Coldfield B72 1 UJ
Date:.............................
Page 4
## **Kingswood Equestrian Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2025**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
4
Total Income
**Expenditure on:**
Charitable activities
Total Expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
13|**Unrestricted**
**£**
44,500
33,637
16
78,153
(77,400)
(77,400)
753
1,713
2,466|**Total**
**2025**
**£**
44,500
33,637
16
78,153
(77,400)
(77,400)
753
1,713
2,466|**Total**
**2024**
**£**
58,250
33,814
-|
|---|---|---|---|
||||92,064|
||||(91,207)|
||||(91,207)|
||||857
856|
||||1,713|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 7 to 11 form an integral part of these financial statements. Page 5
## **Kingswood Equestrian Trust**
## **(Registration number: 1008081) Balance Sheet as at 31 March 2025**
|**Note**
**Current assets**
Stocks
9
Debtors
10
Cash at bank and in hand
11
**Creditors: Amounts falling due within one year**
12
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
13|**2025**
**£**
1,383
720
4,137
6,240
(3,774)
2,466
2,466
2,466|**2024**
**£**
1,383
428
234|
|---|---|---|
|||2,045
(332)|
|||1,713|
|||1,713|
|||1,713|
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Robert Lickley Trustee
The notes on pages 7 to 11 form an integral part of these financial statements. Page 6
## **Kingswood Equestrian Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Kingswood Equestrian Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Page 7
## **Kingswood Equestrian Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
## **2 Income from donations and legacies**
|Donations and legacies;
Lickley Group donation
Other donations
**3**
**Income from charitable activities**
Income from Show Jumping
Income from catering
Hire Income
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**Total for 2025**|**Unrestricted**
**funds**
**General**
**£**
42,000
2,500
44,500
**Unrestricted**
**funds**
**General**
**£**
29,228
4,409
-
33,637|**Total**
**2025**
**£**
42,000
2,500
44,500
**Total**
**2025**
**£**
29,228
4,409
-
33,637
**Unrestricted**
**funds**
**General**
**£**
16
16|**Total**
**2024**
**£**
42,000
16,250|
|---|---|---|---|
||||58,250|
||||**Total**
**2024**
**£**
29,105
4,645
64|
||||33,814|
||||**Total**
**funds**
**£**
16|
||||16|
Page 8
## **Kingswood Equestrian Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **5 Expenditure on charitable activities**
|Maintenance & feed costs
Fuel and motor vehicle exps
Show-Jumping costs
Veterinary costs
Dressage
Show fees & prizes
Catering supplies
Wages & NI
Rates & water
Light & heat
Insurance
Telephone
Internet Marketing & advertising
Other
Bank & merchant costs
Professional costs
Repairs|**Unrestricted**
**funds**
**General**
**£**
1,020
327
2,420
492
2,776
9,257
4,748
30,384
842
18,087
5,598
29
365
454
212
389
-
77,400|**Total**
**2025**
**£**
1,020
327
2,420
492
2,776
9,257
4,748
30,384
842
18,087
5,598
29
365
454
212
389
-
77,400|**Total**
**2024**
**£**
676
200
1,445
151
1,085
6,376
5,418
30,265
864
29,635
5,953
286
94
7,350
184
367
858|
|---|---|---|---|
||||91,207|
## **6 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
## **Gemma Griffiths**
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 9
## **Kingswood Equestrian Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **8 Tangible fixed assets**
|**Cost**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024
**9**
**Stock**
Stocks
**10 Debtors**
Trade debtors
**11 Cash and cash equivalents**
Cash on hand
Cash at bank
**12 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors||**Furniture and**
**equipment**
**£**
1,190|**Total**
**£**
1,190
1,190
1,190
1,190
-
-
**2024**
**£**
1,383|
|---|---|---|---|
|||1,190||
|||1,190||
|||1,190||
|||-||
|||-||
|||**2025**
**£**
1,383
**2025**
**£**
720
**2025**
**£**
-
4,137
4,137
**2025**
**£**
3,361
413
-
3,774||
||||**2024**
**£**
428|
||||**2024**
**£**
257
(23)|
||||234|
||||**2024**
**£**
568
1,302
(1,538)|
||||332|
Page 10
## **Kingswood Equestrian Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
|**13 Funds**
**Unrestricted funds**
**_General_**
General Funds|**Balance at 1**
**April 2024**
**£**
1,713|**Incoming**
**resources**
**£**
80,867|**Resources**
**expended**
**£**
(80,114)|**Balance at 31**
**March 2025**
**£**
2,466|
|---|---|---|---|---|
Page 11
Trustees report for Kingswood Equestrian Trust 2024-25
At the end of the year the sanctuary held 3 horses
We are pleased to report that as a result of the increase in trustees, ideas are currently being floated regarding additional fund raising activities at the centre.
The trustees are very pleased to see that as a result of extremely hard work rationalising costs we have succeeded in operating at a small surplus for this accounting period.
This is, however, becoming more challenging.
We continue to engage with the local community and organisations to offer free and subsidised use of the facilities available to the trust.
The number of subsidised sessions to the local community amounted to some 787 with a cash equivalent values in the region of £3900
By the end of this financial year we have already engaged with a national governing body to provide free access to our facilities for coach training specifically for U21 members in order to advance their coaching careers. This specific course to be held start 2026 would not have been possible had we not presented this offer representing more than £2000 in savings.
The trustees continue to look at ways to enhance the outreach of the charity and contain ever rising costs of operation.