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2021-12-31-accounts

Charity Registration No. 1043036

Company Registration No. 03002781 (England and Wales)

THE EXMOOR PONY SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE EXMOOR PONY SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees David Brewer (resigned September 2021)
Nigel Hill
Gill Langdon (deceased January 2021)
Rob Taylor
Clare Phillips (resigned July 2021)
Toby Hickman (deceased May 2021)
Dr Susan Baker
Geoffrey Bryant
Victoria Lamb
David Wallace
Jenna Payne (resigned January 2021)
Stephanie Poulter
Susan Burger
Sheralee Matravers (appointed July 2021)
Mark Drummond (appointed July 2021)
Prof Marcello Riggio (appointed July 2021)
Secretary Mrs S McGeever
Charity number 1043036
Company number 03002781
Registered office 1 Bancks Street
Minehead
Somerset
TA24 5DJ
Independent examiner Dan Stone Accountancy Ltd
1 Bancks Street
Minehead
Somerset
TA24 5DJ
Bankers Natwest plc
9 The Parade
Minehead
TA24 5ZD
Virgin Money UK
30 St Vincent Place
Glasgow
G1 2HL

THE EXMOOR PONY SOCIETY

CONTENTS

Page
Trustees’ report 1 - 4
Independent examiner’s report 5
Statement of Financial Activities 6
Balance Sheet 7 – 8
Notes to the Financial Statements 9 - 22

THE EXMOOR PONY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, 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)” (effective 1 January 2019).

Objectives and activities

The principal activities and charitable objectives of The Exmoor Pony Society are to preserve the Exmoor Pony for future generations by encouraging the breeding of Exmoor Ponies, promoting the pony to the public and educating them on the heritage and welfare of this rare native breed listed as Category 2, Endangered, by the Rare Breeds Survival Trust. Grants are provided by the charity along with financial support from the Horserace Betting Levy Board to encourage the breeding of ponies eligible for registration.

The Exmoor Pony Society supports breeders of the Exmoor Pony and encourages the use of quality stallions and mares through the inspection system, which maintains the standard of ponies registered, and parentage verification using DNA profiles which ensures that only pure bred foals are recorded in the charity’s stud book. Both judges and inspectors are educated through the probationer scheme and study days are held for ongoing education.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives in planning future activities.

Achievements and performance

For year 2021 the majority of the charity’s activities, meetings, shows and events were curtailed by the Covid-19 pandemic. Charity efforts were concentrated in virtual meetings and events; supporting breeders and owners; and implementing modernisation to the charity’s systems and processes. The charity supported, by charitable donations, external organisations that were severely disadvantaged by the pandemic whose aims reflected those of the charity. The charity introduced initiatives aimed at raising the public profile of the Exmoor Pony Breed and the value of the charity’s aims and objectives.

The Friends of Exmoor Ponies, a wholly owned subsidiary of the Society, continues, along with the Society, to promote the ponies at shows and other events throughout the UK.

Going concern

In light of the current coronavirus pandemic, the trustees have reviewed the likely future developments and remain of the opinion that there is no reason to believe that the charity will have to cease operating as a result of inadequate financial resources, or any other foreseeable event, within a period of at least 12 months from the date of the approval of these accounts.

1

THE EXMOOR PONY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

The reserves of the charity that are freely available for the use at the year end are as follows:

2021 2020
£ £
Total funds of the charity 345,449 359,341
Less:
Restricted funds (22,054) (18,163)
Designated funds (220,808) (268,018)
Unrestricted funds only realisable on disposal of
fixed assets (26,146) (25,936)
______ ______
Free reserves 76,441
______		 47,224
______

The results for the year are shown in the Statement of Financial Activity on page 6. The charity had an overall deficit for the year of £13,892 (2020 deficit £35,245).

The year under review was the charity’s centenary year. Charity activities continued to be impacted adversely by the Covid 19 pandemic. Nevertheless, despite this negative background the financial results are acceptable, and already include investment in increased promotion of both the Exmoor Pony Breed and the importance of the charity’s objectives with the aim of enhancing the profile of the charity’s activities. The charity’s investment in research at Glasgow University was in Year 3 of 4.

The trustees are actively seeking targeted research opportunities that can further the charity’s aims. Reserves are held by the charity in order to enable financial support to be given to such opportunities in the future.

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and have adopted the necessary policies to mitigate and monitor these risks.

2

THE EXMOOR PONY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

The charity is a company limited by guarantee incorporated and registered as a charity on 19 December 1994. The guarantors are the members to the extent of £1 each. The governing documents of the charity are the Memorandum and Article of Association dated 19 December 1994. As amended by resolution 2 May 2018.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

David Brewer (resigned September 2021) Nigel Hill Gill Langdon (deceased January 2021) Rob Taylor Clare Phillips (resigned July 2021) Toby Hickman (deceased May 2021) Dr Susan Baker Geoffrey Bryant Victoria Lamb David Wallace Jenna Payne (resigned January 2021) Stephanie Poulter Susan Burger Sheralee Matravers (appointed July 2021) Mark Drummond (appointed July 2021) Prof Marcello Riggio (appointed July 2021)

The charity is governed by a committee which consists of up to 12 elected members who continue in office for four years, can be re-elected for a further four years and must then take a year off before being eligible for re-election by a ballot of members eligible to vote. The Chairman of the Committee is elected on an annual basis from the elected committee members. The Annual General Meeting is usually held in May each year on Exmoor and, in addition to its statutory business, it provides a forum for the members of the Society to express their views. The charity is efficiently run by the Secretary, with the support of the management committee comprised of chair, vice-chairs and treasurer.

3

THE EXMOOR PONY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of trustees' responsibilities

The trustees, who are also the directors of The Exmoor Pony Society for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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 Companies Act 2006. They 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' report was approved by the Board of Trustees.

Geoffrey Bryant Trustee

Dated: 4 April 2022

Nigel Hill Trustee Dated: 4 April 2022

4

THE EXMOOR PONY SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE EXMOOR PONY SOCIETY

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021, which are set out on pages 6 to 22.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company 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 for this year 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 material matters have come to my attention which gives me cause to believe that:

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.

Daniel Stone ACA 12 May 2022

Dan Stone Accountancy Ltd 2 Hangers Way Dunster Minehead TA24 6RT

5

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

THE EXMOOR PONY SOCIETY

Unrestricted Restricted Total Total
Notes funds funds 2021 2020
£ £ £ £
Income and endowments from:
Donations and legacies 3 35,718 2,030 37,748 3,615
Charitable activities 4 28,546 10,875 39,421 39,570
Other trading activities 5 1,305 - 1,305 1,225
Investments 6 37 - 37 282
______ ______ ______ ______
Total income 65,606 12,905 78,511 44,692
______ ______ ______ ______
Expenditure on:
Raising funds 7 795 - 795 1,285
Charitable activities:
General charitable activities 8 52,409 9,014 61,423 47,610
Research projects 8 30,000 - 30,000 31,042
______ ______ ______ ______
Total resources expended 83,204 9,014 92,218 79,937
Net incoming resources before other
gains/(losses) or transfers (17,598) 3,891 (13,707) (35,245)
Gains and losses on revaluation of fixed
assets for the charity’s own use (185) - (185) -
Other gains/(losses) - - - -
______ ______ ______ ______
Net income for the year/
Net movement in funds (17,783) 3,891 (13,892) (35,245)
Fund balances at 1 January 2021 341,178 18,163 359,341 394,586
______ ______ ______ ______
Fund balances at 31 December 2021 323,395
______		 22,054
______		 345,449
______		 359,341
______

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

6

THE EXMOOR PONY SOCIETY

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes 2021 2020
£ £ £ £
Fixed assets
Tangible fixed assets 12 395 -
Investments 13 25,751 25,936
______ ______
26,146 25,936
Current assets
Debtors 14 4,792 5,724
Cash at bank and in hand 322,921 332,148
______ ______
327,713 337,872
Creditors: amounts falling due
within one year 15 8,410 4,467
______ ______
Net current assets 319,303 333,405
______ ______
Total assets less current liabilities 345,449 359,341
______ ______
Income funds
Restricted funds 16 22,054 18,163
Unrestricted funds:
Designated funds 17 220,808 268,018
General unrestricted funds 17 102,587 73,160
______ ______
323,395 341,178
______ ______
Total funds 345,449
______		 359,341
______

7

THE EXMOOR PONY SOCIETY

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.

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.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

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

The accounts were approved by the trustees on 4 April 2022

Geoffrey Bryant Trustee

Nigel Hill Trustee

Company Registration No. 03002781

8

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

Charity information

The Exmoor Pony Society is a private company limited by guarantee incorporated in England and Wales. The registered office is Woodmans, Brithem Bottom , Cullompton, Devon, EX15 1NB.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, 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)” (effective 1 January 2019). 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.

The charity has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the charity as an individual entity and not about its group.

1.2

Going concern

In light of the current coronavirus pandemic, the trustees have reviewed the likely future developments and remain of the opinion that there is no reason to believe that the charity will have to cease operating as a result of inadequate financial resources, or any other foreseeable event, within a period of at least 12 months from the date of the approval of these accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

9

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants received to assist with specific expenditure are released to the statement of financial activities as the expenditure is incurred.

Income is only deferred when:

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or repayable by the Bank.

Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts.

1.5

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information is support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

10

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

All assets costing more than £250 are capitalised.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity 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.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

11

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1.9 Financial instruments (continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees 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.

12

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

3 Donations and legacies

Legacies
Friends of Exmoor Ponies
Life members
General donations
For the year ended 31 December
2020		 Unrestricted
funds
£
30,000
2,000
1,000
2,718
35,718
3,615		 Restricted
funds
£
-
2,000
-
30
2,030
-		 Total
2021
£
30,000
4,000
1,000
2,748
37,748		 Total
2020
£
-
-
1,000
2,615
3,615
3,615

4 Charitable activities

HBLB
Passports
DNA
Transfers & registrations
Membership
Inspections
Breed & area shows
Sundry fundraising
200 Club income
Online Studbook
For the year ended 31 December
2020		 Unrestricted
funds
£
-
3,100
3,230
2,208
13,871
920
2,322
1,230
1,610
55
28,546
32,070		 Restricted
funds
£
10,875
-
-
-
-
-
-
-
-
-
10,875
7,500		 Total
2021
£
10,875
3,100
3,230
2,208
13,871
920
2,322
1,230
1,610
55
39,421		 Total
2020
£
7,500
5,154
6,150
3,174
13,060
1,425
855
35
2,217
-
39,570
39,570

13

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

5
Other trading activities
Advertising income
6
Investment income
Bank interest
7
Raising funds
200 Club prizes		 2021
£
2020
£
1,305
1,225
2021
£
2020
£
37
282
2021
£
2020
£
795
1,285

14

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8 Charitable activities

haritable activities
General charitable activities:
Breed promotion
Breed shows & events
Bursaries & awards
Premiums
Charitable donations
Insurance
Laboratory testing
Pedigree and stud book
Post, freight & courier
Subscriptions
Website
Travel
Share of support costs (see note 9)
Share of governance costs (see note 9)
Total general charitable activities
Research projects		 Unrestricted
funds
£
8,398
1,309
2,329
-
-
1,660
-
645
2,792
190
4,380
262
21,965
24,882
5,562
52,409
30,000
82,409		 Restricted
funds
£
-
200
462
620
-
-
4,932
475
-
-
-
257
6,946
2,068
-
9,014
-
9,014		 Total
2021
£
8,398
1,509
2,791
620
-
1,660
4,932
1,120
2,792
190
4,380
519
28,911
26,950
5,562
61,423
30,000
91,423		 Total
2020
£
6,427
-
2,113
-
2,200
2,491
6,860
578
2,305
205
684
383
24,246
19,314
4,050
47,610
31,042
78,652

15

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

9 Support costs

Bank fees
IT software & consumables
Legal expenses
Meeting & venue expenses
Operating lease payments
Printing & stationery
Secretarial & administration
Wages & pension
Accountancy
Telephone & internet
General expenses
Heat, light & power
Depreciation
Independent examiner’s fee
For the year ended 31
December 2020		 Support
costs
£
54
642
1,652
1,311
798
4,594
4,305
11,483
1,120
658
-
234
99
-
26,950
19,314		 Governance
costs
£
-
-
-
-
-
-
1,435
3,827
-
-
-
-
-
300
5,562
4,050		 Total
2021
£
54
642
1,652
1,311
798
4,594
5,740
15,310
1,120
658
-
234
99
300
32,512		 Total
2020
£
23
245
807
61
748
3,442
15,001
650
732
1,355
300
23,364
23,364

Support costs includes payments to the independent examiner of £1,120 (2020: £650) for accountancy services and £nil (2020: £nil) for other services.

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

Number of employees

The average monthly number of employees during the year was one (2020: nil).

16

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

12 Tangible fixed assets

Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020
13
Fixed asset investments
Cost or valuation
At 1 January 2020 & 1 January 2021
Unrealised loss on investments
Carrying amount
At 31 December 2021
At 31 December 2020
Other investments comprise:
Notes
Investments in subsidiaries
21		 Plant and
machinery
£
Total
£
-
-
494
494

494
494


-
-
99
99

99
99


395
395


-
-


Other
investments
25,936
185
25,751
25,936
2021
2020
£
£

25,751 25,936

The charity's investment represents 100% of the ordinary share capital of the subsidiary undertaking Friends of Exmoor Ponies Limited, which carries on the trading activities of the group and is registered in England (Registered Number 02991213).

The aggregate share capital and reserves of the subsidiary at 31 December 2021 amounted to £25,751 (2020: £25,936).

17

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

14 Debtors

14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments
15
Creditors: amounts falling due within one year
Trade creditors
Other taxes & social security
Accruals		 2021
£
4,239
553
__
4,792
_
2021
£
6,269
941
1,200

8,410
___		 2020
£
4,770
954
______
5,724
__
2020
£
3,517
-
950
_
4,467
___

18

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds 2021
Balance at 1 Incoming Resources Balance at 31
January 2021 resources expended December 2021
£ £ £ £
Premium fund 5,000 - (620)
4,380
HBLB fund 6,140 10,875 (7,038)
9,977
Pam Ney fund 600 - - 600
Marion Williams bursary fund 5,097 - - 5,097
Centenary fund 1,326 30 (1,356)
-
Gene bank project fund - 2,000 - 2,000
______ ______ ______ ______
18,163 12,905 (9,014)
22,054
______ ______ ______ ______
Prior year
Movement in funds 2020
Balance at 1 Incoming Resources Balance at 31
January 2020 resources expended December 2020
£ £ £ £
Premium fund 5,000 - - 5,000
HBLB fund - 7,500 (1,360)
6,140
Pam Ney fund 600 - - 600
Marion Williams bursary fund 5,672 - (575)
5,097
Centenary fund 1,446 - (120)
1,326
______ ______ ______ ______
12,718
______		 7,500
______		 (2,055)
______
18,163
______

The Premium Fund is to fund Mare premiums.

The HBLB Fund is to support the charity’s breed improvement programme.

The Pam Ney Fund is for the encouragement and training of judges between 10 and 23 years of age. The Marion Williams Bursary Fund is to support young members (under 25) in furthering their showing aspirations of Exmoor Ponies.

The Centenary Fund is for expenditure relating to the Society’s centenary year.

The Gene Bank Project Fund is to make population restoration possible in the event of disaster.

19

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

17 Unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds 2021
Balance at 1 Incoming Resources Balance at 31
January 2021 resources expended December 2021
£ £ £ £
Special projects fund 24,060 - (17,210)
6,850
Memorial fund 25,000 - - 25,000
Hatherley memorial fund 218,958 - (30,000)
188,958
Rosettes & prizes fund - 142
 (142)
-
Total Designated funds 268,018 142 (47,352)
220,808
______ ______ ______ ______
General funds 73,160 65,464 (36,037)
102,587
______ ______ ______ ______
Total unrestricted funds 341,178
______		 65,606
______		 (83,389)
______
323,395
______

Prior year

Movement in funds Movement in funds 2020
Balance at 1 Incoming Resources Balance at 31
January 2020 resources expended December 2020
£ £ £ £
Special projects fund 30,000 - (5,940)
24,060
Memorial fund 25,000 - - 25,000
Hatherley memorial fund 250,000 - (31,042)
218,958
______ ______ ______ ______
Designated funds 305,000 - (36,982)
268,018
______ ______ ______ ______
General funds 76,868 37,192 (40,900)
73,160
______ ______ ______ ______
Total unrestricted funds 381,868
______		 37,192
______		 (77,882)
______
341,178
______

The Special Projects Fund is to support the promotion and marketing of the Exmoor Pony breed. The Memorial Fund is to support general charitable activities but is not for administrative purposes. The Hatherley Memorial Fund is to support research projects.

The Rosettes & Prizes Fund is to support rosettes, prizes and catering costs at shows and events.

20

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

18 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 31 December 2021 are represented by:
Tangible assets 395 - 395
Investments 25,751 - 25,751
Current assets/(liabilities) 297,249 22,054 319,303
______ ______ ______
323,395 22,054 345,449
______ ______ ______
Prior year
Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 31 December 2020 are represented by:
Investments 25,936 - 25,936
Current assets/(liabilities) 315,242 18,163 333,405
______ ______ ______
341,178
______		 18,163
______		 359,341
______

19

Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2021 2020
£ £
Within one year 698 672
Between two and five years 698 759
In over five years - -

20 Related party transactions

There were no disclosable related party transactions with key management personnel during the year (2020: £nil).

21

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

21 Subsidiaries

These financial statements are separate charity financial statements for The Exmoor Pony Society.

Details of the charity's subsidiaries at 31 December 2021 are as follows:

Name of undertaking Registered Nature of Class of % Held
office business shares held Direct Indirect
Friends of Exmoor 1 Tockholes Rd, Membership Ordinary 100
Ponies Limited Tockholes, organisation
BB3 0LR

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