OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← The Exmoor Pony Society

2024-12-31-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 2024

THE EXMOOR PONY SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Nigel Hill
Vivien Taylor (resigned 1 September 2024)
Kittiana French (resigned 1 November 2024)
Robert Taylor
Margaret Partridge Keane (resigned 12 May 2024)
Geoffrey Bryant
David Wallace
Stephanie Poulter
Susan Burger (resigned 27 August 2024)
Sheralee Matravers
Mark Drummond
Rachael Davis
Janet James (co-opted 14 January 2025)
Christian Scharch (co-opted 14 January 2025)
Secretary Mrs Jay Gee
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 2024

The trustees present their report and financial statements for the year ended 31 December 2024.

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 Priority 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 schemes.

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 2024 the charity’s activities, meetings, shows, and events continued at a strong level. The Society’s major annual events, which are held on Exmoor, are Spring Show and stallion parade, Breed Show in August and Autumn Show. Additional regional area shows and events take place across the UK spread through the year to enable participation of not only members but also supporters, enthusiasts and others interested in future sustainability of this rare breed.

Virtual meetings enable Charity discussion and network events to take place irrespective of participant location. Nonetheless physical meetings still have an important role, for example with Annual General Meetings and the like. Virtual Trustee meetings have helped improve eligibility of members to put themselves forward as candidates to become a Trustee irrespective of their location. The charity continues to promote its aims and objectives as part of initiatives aimed at raising the public profile of the Exmoor Pony Breed and the value of the charity’s aims and objectives. This now includes a campaign to encourage legacy gifting.

Membership and Pony Registration which was brought back in-house in 2023 has been warmly welcomed by the membership for its fast response and efficiency. The focus of encouraging and assisting moorland breeders to focus on producing registered foals with proven parentage is showing positive results.

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.

1

THE EXMOOR PONY SOCIETY

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

FOR THE YEAR ENDED 31 DECEMBER 2024

Going concern

The trustees are 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.

Financial review

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

2024 2023
£ £
Total funds of the charity 373,075 407,489
Less:
Restricted funds (8,777) (9,955)
Designated funds (201,825) (201,825)
Unrestricted funds only realisable on disposal of
fixed assets (22,787) (32,683)
______ ______
Free reserves 139,686
______		 163,026
______

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 £34,414 (2023 deficit £32,273).

The year under review was the first full year to benefit from the appointment of the Membership and Registration Administrator which has been warmly welcomed by members, breeders and owners. The response times to registration matters has been significantly improved and assistance has been given to those moorland herds seeking to increase the number of foals with proven parentage.

The Trustees deem the financial results to be acceptable and have initiated a campaign to increase legacy gifting and other donations. Increased income will assist sustaining the investment in increased promotion of both the Exmoor Pony Breed and support the aim of enhancing the profile of the charity’s activities and maintaining the charity’s objectives.

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 2024

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 17 July 2023.

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:

Nigel Hill Vivien Taylor (resigned 1 September 2024) Kittiana French (resigned 1 November 2024) Robert Taylor Margaret Partridge Keane (resigned 12 May 2024) Geoffrey Bryant David Wallace Stephanie Poulter Susan Burger (resigned 27 August 2024) Sheralee Matravers Mark Drummond Rachael Davis Janet James (co-opted 14 January 2025) Christian Scharch (co-opted 14 January 2025)

The charity is governed by a committee which consists of up to 12 elected members who continue in office for up to 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 and the Membership and Registrations Administrator, 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 2024

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.

G J Bryant

Geoffrey Bryant Trustee Dated: 04/04/2025

N C Hill

Nigel Hill Trustee Dated: 04/04/2025

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 2024, 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.

D P Stone

Daniel Stone FCA

23 April 2025

Dan Stone Accountancy Ltd 1 Bancks Street Minehead TA24 5DJ

5

THE EXMOOR PONY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Restricted Total Total
Notes funds funds 2024 2023
£ £ £ £
Income and endowments from:
Donations and legacies 3 9,414 520 9,934 6,966
Charitable activities 4 37,872 11,000 48,872 44,423
Other trading activities 5 2,045 - 2,045 1,610
Investment income 6 1,465 - 1,465 3,366
______ ______ ______ ______
Total income 50,796 11,520 62,316 56,365
______ ______ ______ ______
Expenditure on:
Raising funds 7 1,280 - 1,280 1,025
Charitable activities:
General charitable activities 8 73,482 12,698 86,180 89,495
______ ______ ______ ______
Total resources expended 74,762 12,698 87,460 90,520
Net incoming resources before other
gains/(losses) or transfers (23,966) (1,178) (25,144) (34,155)
Gains and losses on revaluation of fixed
assets for the charity’s own use (9,270) - (9,270) 1,882
Other gains/(losses) - - - -
______ ______ ______ ______
Net income for the year/
Net movement in funds (33,236) (1,178) (34,414) (32,273)
Fund balances at 1 January 2024 397,534 9,955 407,489 439,762
______ ______ ______ ______
Fund balances at 31 December 2024 364,298
______		 8,777
______		 373,075
______		 407,489
______

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 2024

Notes 2024 2023
£ £ £ £
Fixed assets
Tangible fixed assets 12 1,824 2,450
Investments 13 20,963 30,233
______ ______
22,787 32,683
Current assets
Debtors 14 4,221 4,349
Cash at bank and in hand 351,580 376,273
______ ______
355,801 380,622
Creditors: amounts falling due
within one year 15 5,513 5,816
______ ______
Net current assets 350,288 374,806
______ ______
Total assets less current liabilities 373,075 407,489
______ ______
Income funds
Restricted funds 16 8,777 9,955
Unrestricted funds:
Designated funds 17 201,825 201,825
General unrestricted funds 17 162,473 195,709
______ ______
364,298 397,534
______ ______
Total funds 373,075
______		 407,489
______

7

THE EXMOOR PONY SOCIETY

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

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 2024.

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 04/04/2025

G J Bryant

Geoffrey Bryant Trustee

N C Hill

Nigel Hill Trustee

Company Registration No. 03002781

8

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 1 Bancks Street, Minehead, Somerset, TA24 5DJ.

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

The trustees are 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 2024

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 2024

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 2024

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 2024

3 Donations and legacies

Legacies
Friends of Exmoor Ponies
Life members
General donations
For the year ended 31
December 2023
4
Charitable activities		 Unrestricted
funds
£
533
4,000
1,000
3,881
9,414
3,741		 Restricted
funds
£
-
-
-
520
520
3,225		 Total
2024
£
533
4,000
1,000
4,401
9,934		 Total
2023
£
-
2,000
1,000
3,966
6,966
6,966
HBLB
Passports
DNA
Transfers & registrations
Membership
Inspections
Breed & area shows
Sundry fundraising
200 Club income
Online Studbook
For the year ended 31
December 2023		 Unrestricted
funds
£
-
6,700
7,734
2,100
12,945
3,584
2,407
1,001
1,368
33
37,872
33,973		 Restricted
funds
£
11,000
-
-
-
-
-
-
-
-
-
11,000
10,450		 Total
2024
£
11,000
6,700
7,734
2,100
12,945
3,584
2,407
1,001
1,368
33
48,872		 Total
2023
£
10,450
3,260
4,590
2,125
15,122
1,080
3,199
1,047
1,500
2,050
44,423
44,423

13

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

5
Other trading activities
Advertising income
6
Investment income
Bank interest
7
Raising funds
200 Club prizes		 2024
£
2023
£
2,045
1,610
2024
£
2023
£
1,465
3,366
2024
£
2023
£
1,280
1,025

14

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

8
Charitable activities
General charitable activities:
Breed promotion
Breed shows & events
Bursaries & awards
Premiums
Insurance
Research projects
Gene bank project
Laboratory testing
Pedigree and stud book
Post, freight & courier
Subscriptions
Website
Travel – international
Travel – national
Share of support costs (see note 9)
Share of governance costs (see note 9)
Total support and governance costs
Total charitable activities		 Unrestricted
funds
£
11,946
2,903
1,883
-
3,258
-
11,428
-
-
3,545
224
54
-
1,670
36,911
32,051
4,520
36,571
73,482		 Restricted
funds
£
-
-
500
100
-
-
520
7,810
947
-
-
-
-
-
9,877
-
2,821
2,821
12,698		 Total
2024
£
11,946
2,903
2,383
100
3,258
-
11,948
7,810
947
3,545
224
54
-
1,670
46,788
32,051
7,341
39,392
86,180		 Total
2023
£
11,586
2,407
2,450
-
2,455
5,200
12,177
7,405
7,032
2,555
218
36
913
1,635
56,069
26,731
6,695
33,426
89,495

15

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Support costs

Bank fees
IT software & consumables
Legal & professional expenses
Meeting & venue expenses
Operating lease payments
Printing & stationery
Secretarial & administration
Wages & pension
Accountancy
Telephone & internet
Repairs & maintenance
Heat, light & power
Depreciation
Independent examiner’s fee
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31
December 2023 (unrestricted)		 Support
costs
£
172
373
1,510
1,062
419
3,749
-
19,489
1,725
1,796
598
487
671
-
32,051
32,051
-
32,051
26,286		 Governance
costs
£
-
-
-
-
-
-
-
7,011
-
-
-
-
-
330
7,341
4,520
2,821
7,341
7,140		 Total
2024
£
172
373
1,510
1,062
419
3,749
-
26,500
1,725
1,796
598
487
671
330
39,392
36,571
2,821
39,392		 Total
2023
£
141
717
492
1,333
643
4,796
66
20,587
1,585
1,446
420
208
662
330
33,426
26,286
7,140
33,426
33,426

Support costs includes payments to the independent examiner of £1,725 (2023: £1,585) for accountancy services and £nil (2023: £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 two (2023: two).

16

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

THE EXMOOR PONY SOCIETY

FOR THE YEAR ENDED 31 DECEMBER 2024

12 Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Depreciation charged in the year
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
13
Fixed asset investments
Valuation
At 1 January 2024
Unrealised loss on investments
Carrying amount
At 31 December 2024
At 31 December 2023
Other investments comprise:
Notes
Investments in subsidiaries
21		 Plant and
machinery
£
Total
£
3,310
3,310
45
45

3,355
3,355


860
860
671
671
1,531
1,531

1,824
1,824

2,450
2,450

Other
investments
30,233
(9,270)
20,963
30,233
2024
2023
£
£
20,963 30,233

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 2024 amounted to £20,963 (2023: £30,233).

17

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments		 2024
£
2,281
1,940
__
4,221
____		 2023
£
3,578
771
__
4,349
____

15 Creditors: amounts falling due within one year

Trade creditors
Other taxes & social security
Other creditors
Accruals		 2024
£
3,374
183
384
1,572
__
5,513
____		 2023
£
2,057
16
2,213
1,530
__
5,816
____

18

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024
Balance at 1 Incoming Resources Balance at 31
January 2024 resources expended December 2024
£ £ £ £
Premium fund 4,330 - (100)
4,230
HBLB fund 578 11,000 (11,578)
-
Pam Ney fund 600 - - 600
Marion Williams bursary fund 4,447 - (500)
3,947
Gene bank project fund - 520 (520)
-
______ ______ ______ ______
9,955
______		 11,520
______		 (12,698)
______
8,777
______
Prior year
Movement in funds 2023
Balance at 1 Incoming Resources Balance at 31
January 2023 resources expended December 2023
£ £ £ £
Premium fund 4,330 - - 4,330
HBLB fund 11,705 10,450 (21,577)
578
Pam Ney fund 600 - - 600
Marion Williams bursary fund 4,847 - (400)
4,447
DVD fund 1,420 - (1,420)
-
Gene bank project fund 2,115 3,225 (5,340)
-
______ ______ ______ ______
25,017
______		 13,675
______		 (28,737)
______
9,955
______

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 DVD Fund is to support the promotional DVD project.

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 2024

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 2024
Balance at 1 Incoming Resources Balance at 31
January 2024 resources expended December 2024
£ £ £ £
Memorial fund 25,000 - - 25,000
Hatherley memorial fund 176,825 -
 -
 176,825
Total Designated funds 201,825 - - 201,825
______ ______ ______ ______
General funds 195,709 50,796 (84,032)
162,473
______ ______ ______ ______
Total unrestricted funds 397,534 50,796 (84,032)
364,298
______ ______ ______ ______
Prior year
Movement in funds Movement in funds 2023
Balance at 1 Incoming Resources Balance at 31
January 2023 resources expended December 2023
£ £ £ £
Special projects fund 6,850 - (6,850)
-
Memorial fund 25,000 - - 25,000
Hatherley memorial fund 188,862 -
 (12,037)
176,825
Total Designated funds 220,712 - (18,887)
201,825
______ ______ ______ ______
General funds 194,033 44,572 (42,896)
195,709
______ ______ ______ ______
Total unrestricted funds 414,745
______		 44,572
______		 (61,783)
______
397,534
______

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.

20

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

18 Analysis of net assets between funds
Unrestricted Restricted Total funds
funds funds
£ £ £
Fund balances at 31 December 2024 are represented by:
Tangible assets 1,824 - 1,824
Investments 20,963 - 20,963
Current assets/(liabilities) 341,511 8,777 350,288
______ ______ ______
364,298 8,777 373,075
______ ______ ______
Prior year
Unrestricted Restricted Total funds
funds funds
£ £ £
Fund balances at 31 December 2023 are represented by:
Tangible assets 2,450 - 2,450
Investments 30,233 - 30,233
Current assets/(liabilities) 364,851 9,955 374,806
______ ______ ______
397,534
______		 9,955
______		 407,489
______

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:

2024 2023
£ £
Within one year 371 588
Between two and five years 371 588
In over five years - -

20 Related party transactions

There were no disclosable related party transactions with key management personnel during the year (2023: £nil).

21

THE EXMOOR PONY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

21 Subsidiaries

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

Details of the charity's subsidiaries at 31 December 2024 are as follows:

Name of Registered Nature of Class of shares % Held (direct)
undertaking office business held
Friends of 9 The Alms Membership Ordinary 100
Exmoor Ponies House, Gas organisation
Limited Lane, Hinton
St. George,
TA17 8RX

22