OpenCharities

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

2022-03-31-accounts

Company registration number: 02762589 Charity registration number: 1045045

The Wormwood Scrubs Pony Centre

(A charitable company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2022

The Wormwood Scrubs Pony Centre

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 9
Statement of Trustees' Responsibilities 10
Independent Examiner's Report 11
Statement of Financial Activities 12 to 13
Balance Sheet 14 to 15
Notes to the Financial Statements 16 to 25

The Wormwood Scrubs Pony Centre

Reference and Administrative Details Chairperson Ms Janice Gardner Chief Executive Officer Sister Mary Joy Langdon Trustees Ms Janice Gardner Ms Tracey Spensley Ms Addy Windsor-Clive Ms Emily Thomas Mr Graeme Drummond Ms Patricia White Ms Mireille Siarras Ms Tonya Ellis Secretary Ms Tracey Spensley Patron Mr Martin Clunes OBE Senior Management Team Sister Mary Joy Langdon, Chief Executive Officer Registered Office 93 Tabernacle Street EC2A 4BA The charity is incorporated in Engalnd and Wales. Company Registration Number 02762589 Charity Registration Number 1045045 Bankers NatWest Bank Plc 25 Shepherds Bush Green London W12 BPR Co-Operative Bank Online Banking (cooperativebank.co.uk/business) Independent Examiner Alistair I Wem BSc FCA Wem & Co Chartered Accountants Savoy House Savoy Circus London W3 7DA

Page 1

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31st March 2022 which are also prepared to meet the requirements for a directors’ report and Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Report by Charities: Statements 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 2015) - (Charity SORP (FRS 102) Revised).

OUR PURPOSE AND ACTIVITIES

The Wormwood Scrubs Pony Centre was established in 1989 by Sister Mary Joy Langdon and has continued to grow over 33 years into the outstanding Centre it is today. It provides riding, equine therapy and classes in horse care and stable management to inner city children, young people and adults. We aim to provide a unique opportunity to disadvantaged, disabled and hard-to-reach people, particularly children. It is our experience that interaction with horses develops confidence, raises self-esteem and enhances life-chances in people, a majority of whom have disabilities. We also encourage them to have fun in a safe and secure environment.

The Centre is unique in its provision in the local area. We liaise with local schools, community groups, voluntary sector infrastructure bodies, paediatricians and local support agencies. We are a group member of the Riding for the Disabled Association, a Pony Club Branch, an approved British Horse Society establishment and an honorary member of the Association of British Riding Schools. We have grown during the past 33 years from offering weekend riding only to providing a full week of riding, equine therapy activities, stable management and community involvement. Many of our young people work towards a wide variety of certificates and achievement awards. We employ 2 apprentices supported via Keits training providers and we are keen to support young people in their learning and to assist them in their careers.

A number of local schools bring individual children or groups of children for riding and equine therapy at the Centre. When the relaxation of Covid-19 lockdown restrictions allowed, the following schools returned to the Centre: Castlebar School, Chelsea Community Hospital School, Edith Kay School, St Marylebone Bridge School, Manor School, The Avenue, TCEF School and KAA. We also take children for work experience.

We have robust policies in place which are under constant review and are fully implemented, including but not limited to the following:

All members of staff attend a Safeguarding Children course, have current First Aid qualifications and are DBS (Disclosure and Barring Service) checked. In addition, all volunteers have to produce a current DBS certificate before they can work with us. Further, during this year, three senior staff have completed a BEF Advanced Equestrian Safeguarding Course for Safeguarding Officers and Mental Health First Aid courses.

Page 2

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

Our volunteers

Our dedicated team of volunteers of all ages continue to provide invaluable support to the Pony Centre. In fact, without them, it would be impossible to run a Centre such as ours. Volunteering is at the very heart of the Centre and its DNA. We have a Trustee dedicated to the championing of our volunteers.

There is a wide range of activities covered by the team which include:

We owe each one of our volunteers an immense debt of gratitude for their tireless support.

Staffing

The Pony Centre has a strong team of paid staff.

The senior team members consider it important to train the younger members and to support them as they develop. In this way further qualifications can be achieved, enabling them to progress in their equestrian careers. The senior leaders lead by example, both of them are committed to active learning.

This year we have appointed a COO , in recognition of the need to allow our CEO to focus on strategic planning and allow our COO to take over the day to day operational duties at the yard: this is also part of the general succession planning and the upskilling and progression of our staff.

CEO - Sister Mary Joy Langdon BEM: BHS APC Regd Coach; FRDA; ABRS Principal’s Diploma; Pony Club Accredited Coach; Regd RDA Advanced Coach; RDA Vaulting Coach; UK Tutoring in Sports Coach Educator L3

COO - Richard Watson, Senior coach and Equine Trainer, 30 years’ experience in the equine industry, Classical Dressage Coach, RDA Coach

Stable Yard Team

Page 3

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

Trainees/Apprentices

Riding Coaches

• Claudia Howard: BHS APC Registered Coach

• Helen Jones: RDA Coach

• Elio Marches: RDA Coach

• Alison Moulding: RDA Coach in training

• Richard Watson: RDA Coach

• Frankie Wynne: Qualified Alexander Technique Coach, specialising in coaching sessions on the mechanical horse

Courses and training offered during the year April 2021 -March 2022

Achievements and Performance - The Pony Centre coming out of the Covid-19 pandemic

This financial year has been a challenging year for all sectors of society, not least the third sector.

It has been a time of change and reflection for many people and several of our long-standing Trustees decided it was time to move on to new pastures and make opportunities for new people.

Janice Gardner replaced Kathy Heaps as chair. Tracey Spensley replaced Melissa Kilbride as secretary.

Janice’s focus this year has been on governance: the Articles of Association have been reviewed and updated. The objects have been broadened to allow adult riding and therapies in recognition of the benefits that equines give to all people regardless of age and the need to broaden the scope of the centre’s offering to allow it to maximise its potential to increase revenue in an ever-challenging economic background. The Trustees now also have in place a code of conduct and governance manual.

Each Trustee has been given a subject matter to champion and this information has been communicated to the staff and volunteers at the centre.

The Trustees and the Senior Leadership Team held a strategic planning day in March and are currently working on a 3 year strategic plan to start in 2023.

Page 4

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

The managing board has been strengthened by the recruitment of two Trustees from the not for profit sector (Tracey Spensley and Emily Thomas) who have a deep knowledge of the sector and specialist skills in communications and business development. We have also recruited a venture capitalist to sharpen our commercial edge (Addy Windsor Clive).

The Board is constantly on the lookout for new Trustees and actively seeking to recruit them with a particular eye on succession planning, competitive advantage and diversity.

At the Pony Centre, the senior leadership team has been strengthened by the appointment for the first time of a COO, Richard Watson. Richard’s brief is to focus on the operational arm of the charity and the development of new revenue enhancing riding programmes, freeing up some of our CEO’s - Sister Mary Joy Langdon’s - time to focus on strategic planning, developing new programmes and fundraising.

In November 2021, our CEO, Mary-Joy Langdon, was appointed as one of the seven Princess Royal RDA Coach Mentors. Our COO, Richard Watson, has also been invited to join this prestigious course in 2023. Richard achieved a British Horse Society (BHS) Unsung Hero 2021 Award, in recognition of special achievements in his work with both young people and with equines at WSPC.

In February 2022, the Centre was approved as a BHS therapy centre for a new initiative called “Changing Lives Though Horses” (“CLTH”). This initiative is targeted at young people on the verge of exclusion from school, or those who have been excluded. The aim of the intervention is to help children get back on track and/or help them make some progress. We are looking forward to becoming further involved with this initiative in the coming months.

We are also working with a charity called ‘Kids on the Green’ and have developed a programme to help the children recover from some of the traumas they have faced since the Grenfell fire tragedy.

We have opened up a programme of riding for adults, many of whom already volunteer at the centre and our COO is currently developing a programme of riding in the late afternoon and early evenings to maximise revenue.

Throughout the year we had a series of key events as follows:

• July - Trustee picnic and LGBTQ+ training provided by Central & North West London NHS Foundation Trust;

• July - dog and donkey walk on Wormwood Scrubs (fundraiser and community event);

• July Summer Special Olympics - attended by one of our patrons, Annika Rice -a celebration of our users and a fundraising event;

• Volunteer Evening Celebration in October. Certificates were given out by Martin Clunes, another of our patrons, as part of a celebration of our volunteers;

Page 5

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

Trustees

Ms Janice Gardner

Ms Tracey Spensley (appointed 20 May 2021) Ms Addy Windsor-Clive (appointed 10 October 2021) Ms Emily Thomas (appointed 10 October 2021) Mr Graeme Drummond (appointed 21 January 2022)

Ms Patricia White Ms Kathy Heaps (resigned 22 June 2021) Ms Sue Kayser (resigned 18 December 2021) Ms Melissa Kilbride (resigned 31 December 2021) Ms Daphne Hamblin (resigned 24 April 2021) Tim Boyd (resigned 12 January 2022) Ms Jessie Khera (resigned 15 August 2022) Ms Mireille Siarras (appointed 12 September 2022) Ms Tonya Ellis (appointed 12 October 2022)

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity's activities.

Page 6

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

FINANCIAL REVIEW

The Statement of Financial Activities showed net loss of £33,118 (2021: £57,745) for the year and reserves stand at £226,382 (2021: £259,500)

Principal funding sources continue to be donations and grants received from private or corporate donors and from statutory bodies as well as income from our riding and equine therapy activities.

Throughout the financial year April 2021 - March 2022, like all charities, WSPC was dramatically affected by the periods of lockdown necessitated by the global pandemic.

We are therefore particularly grateful to the individuals, groups and trusts who have supported the work of the Pony Centre during this extremely challenging time. We thank: Ru Bhugra, E Bowring, H Cartwright, Charities Aid Foundation, Martin Clunes, DV & MWC Hamblin, E Hughes-Hallett Hoare Trust, A & K Heaps, Suzanne Johnson, the Infant Jesus Sisters and friends, R Jones, Claire Maxwell-Hudson, William Reddaway, Shenoah Taylor, Stewardship and P White.

Successful grant applications made: April 2021 - March 2022

We offer our sincere gratitude to the following organisations for their generous grants: BHS Hardship Fund; the Loriners Charitable Trust; the Jack Petchey Foundation.

Investment powers and policy

The Directors consider it prudent to maintain an adequate balance of unrestricted funds to cover the Charity’s contractual commitments and ideally aim to have 6 months running costs, excluding donated services, in reserve. Currently the charity has approximately 6 months running costs in free reserves.

Throughout the period of April 2021 to the present date, the trustees have met on 7 occasions and had a strategy afternoon meeting with the senior leaders. The meetings have been more frequent than before lockdown and have been necessary as the Board has had a number of key personnel change and to closely monitor financial reserves. The treasurer prepared a comprehensive review of the finances for the strategy day and continues to prepare financial forecasts to indicate how long funds are likely to last.

The Directors consider that the Charity’s reserves will enhance the services provided and provide financial security for the future. The reserves held in unrestricted funds, which have not been designated or invested in fixed assets, at the 31st March 2022 were £48,514 (2021: £138,379).

Investments

The Wormwood Scrubs Pony Centre does not hold any investments. All reserves are therefore held in cash in bank accounts and readily available.

Charitable and political donations

During the year the charity made no political or charitable donations.

Page 7

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

FUTURE PLANS AND DEVELOPMENTS

It is the plan over the coming year to further develop the CLTH programme. The courses will include learning to ride as well as non-riding activities where the young people will learn through interaction with the ponies.

The Centre looks forward to working with the Kids on the Green Charity to support the Grenfell children and help with their trauma therapy.

The Centre will continue to develop and expand upon its kindergarten programme.

The Centre will continue to offer its expertise to disabled riders young and old and to develop its ongoing relationships with SEN schools.

The Centre will look to utilise and develop its offering on the mechanical horse.

The Centre will look to connect with a local dementia charity and expand its offering to those people who might benefit from a visit to the centre or a home visit by a pony.

The Centre will look to develop its general riding offering to enhance revenue and thus support its charitable status.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Wormwood Scrubs Pony Centre is registered under the Companies Act 1985 as a company limited by guarantee and not having a capital divided by shares.

The company was incorporated on 6 November 1992 and became a registered charity on 16 March 1995; it was constituted as a limited company under the Memorandum and Articles of Association. The charity registration number is 1045045 and the company registration number is 2762589.

Recruitment and appointment of trustees

As set out in the Articles of Association, the chair of the Directors/Trustees is nominated by The Wormwood Scrubs Pony Centre. The Directors of the organisation are also the charity trustees for the purposes of charity law.

The Board of Directors has power to appoint additional Trustees as it considers fit do to so.

Directors/Trustees are elected to serve for a period of three years after which they will be eligible for re-election for a maximum of 9 years.

The Directors/Trustees in office in the year are set out on page 7. The Trustees have no beneficial interest in the company other than as members. The Trustees are also the directors of the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of winding up. The Board has the power to appoint additional Directors.

Page 8

The Wormwood Scrubs Pony Centre

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 ST MARCH 2022

Induction and training of trustees

The Trustees maintain a good working knowledge of charity and company law and best practice by regular reading of charity press articles and scrutiny of Companies House, Charity Commission, other Government and voluntary organisation advisory websites. New Trustees are given copies of the Memorandum and Articles of Association, a copy of the Trustee Governance handbook and the Trustee code of conduct. Further, an induction session is given by an experienced Trustee.

Organisation

The Centre is run by the Board of Directors, who meet at least four times but in reality, more regularly than that and who are available at all times to offer guidance and support to the staff at WSPC. It also has connections with a firm of solicitors and a firm of accountants when necessary.

Related parties

The charity works closely with other similar organisations as detailed in Our Purpose and Activities Section of the Trustees Report above. None of the charity’s trustees are directors or trustees of these other organisations.

Pay policy for senior staff

The pay and remuneration of the charity’s key management personnel is reviewed annually by the Trustees taking into account the individual's performance and the charity’s financial position.

Risk Management

The trustees have a risk management strategy which comprises:

An annual review of the risks the charity may face;

■The establishment of systems and procedures to mitigate those risks identified in the plan; ■Implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

The Trustees are currently working on a risk register.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 16 January 2023 and signed on its behalf by:

SIGNED SECURELY

19/01/2023 at 9:09:05 AM UTC

.........................................

Ms Janice Gardner Chairperson

Page 9

The Wormwood Scrubs Pony Centre

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The Wormwood Scrubs Pony Centre for the purposes 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. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its income and expenditure for that period. 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 charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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

Approved by the trustees of the charity on 16 January 2023 and signed on its behalf by:

SIGNED SECURELY ......................................... 19/01/2023 at 9:09:05 AM UTC Ms Janice Gardner Chairperson

Page 10

The Wormwood Scrubs Pony Centre

Independent Examiner's Report to the trustees of The Wormwood Scrubs Pony Centre

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 12 to 25.

Respective responsibilities of trustees and examiner

As the charity’s trustees of The Wormwood Scrubs Pony Centre (and also its directors 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 Wormwood Scrubs Pony Centre 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 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 matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of The Wormwood Scrubs Pony Centre as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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 accounts to be reached.

SIGNED SECURELY

...................................... 19/01/2023 at 10:21:08 AM UTC Mr Alistair Ian Wem BSc FCA Wem & Co Chartered Accountants Institute of Chartered Accountants in England & Wales Savoy House Savoy Circus London W3 7DA SIGNED SECURELY Date:............................. 19/01/2023 at 10:21:08 AM UTC

Page 11

The Wormwood Scrubs Pony Centre

Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
Charitable activities
7
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19
Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds		 Unrestricted
funds
£
58,203
84,246
2,337
82
144,868
(4,887)
(147,856)
(152,743)
(7,875)
(7,875)
232,270
224,395
Unrestricted
funds
£
93,592
97,788
6,504
237
198,121
(748)
(127,858)
(128,606)
69,515
69,515		 Unrestricted
funds
£
58,203
84,246
2,337
82		 Restricted
funds
£
30,301
28,946
963
-		 Total
2022
£
88,504
113,192
3,300
82
144,868 60,210 205,078
(4,887)
(147,856)		 -
(85,452)		 (4,887)
(233,308)
(152,743) (85,452) (238,195)
(7,875) (25,242) (33,117)
(7,875)
232,270		 (25,242)
27,230		 (33,117)
259,500
224,395 1,988 226,383
Restricted
funds
£
15,335
37,230
-
-
52,565
-
(64,335)
(64,335)
(11,770)
(11,770)		 Total
2021
£
108,927
135,018
6,504
237
250,686
(748)
(192,193)
(192,941)
57,745
57,745

The notes on pages 16 to 25 form an integral part of these financial statements. Page 12

The Wormwood Scrubs Pony Centre

Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
162,755
232,270		 Restricted
funds
£
39,000
27,230		 Total
2021
£
201,755
259,500

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19.

The notes on pages 16 to 25 form an integral part of these financial statements. Page 13

The Wormwood Scrubs Pony Centre

(Registration number: 02762589) Balance Sheet as at 31 March 2022

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
14
Creditors: Amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
16
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
19
Unrestricted income funds
Unrestricted funds
Total funds
19		 2022
£
90,428
8,910
169,883
178,793
(16,838)
161,955
252,383
(26,000)
226,383
1,988
224,395
226,383		 2021
£
93,892
4,538
216,869
221,407
(16,799)
204,608
298,500
(39,000)
259,500
27,230
232,270
259,500

For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The notes on pages 16 to 25 form an integral part of these financial statements. Page 14

The Wormwood Scrubs Pony Centre

(Registration number: 02762589) Balance Sheet as at 31 March 2022

The financial statements on pages 12 to 25 were approved by the trustees, and authorised for issue on 16 January 2023 and signed on their behalf by:

SIGNED SECURELY

......................................... 18/01/2023 at 3:54:11 PM UTC Mr Graeme Drummond Trustee

The notes on pages 16 to 25 form an integral part of these financial statements. Page 15

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

1 Charity status

The charity is limited by guarantee, incorporated in Engalnd and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: 93 Tabernacle Street EC2A 4BA

These financial statements were authorised for issue by the trustees on 16 January 2023

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

The Wormwood Scrubs Pony Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Preparation of accounts on a going concern basis

Having regard to the level of reserves and the ongoing level of expenditure against unrestricted funds in conjunction with the development of the organisation's activity in the coming year, the trustees are satisfied that the accounts should be prepared on a going concern basis.

Page 16

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

Incoming

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

a) Income received by way of grants, donations and legacies are included in full in the Statement of Financial Activities when received, unless they relate to a specified future period, in which case they are deferred. b) Legacies entitlement is taken as the earlier of the date on which either: the charity is aware that the probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that the distribution is made, or when a distribution is received from the estate. No legacies were received during the year.

c) Income from charitable activities received by way of revenue grants and donations are credited to restricted incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.

d) Grants and donations of general nature which are not conditional on delivering certain levels of service are included as part of Grants, Donations and Legacies as shown under note 2. Performance related grants and donations which have conditions for a specific outcome are include as Income from Charitable Activities as shown in Note 3.

e) Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Deprecation on the related fixed assets is charged against the restricted fund.

f) Investment income is included when receivable.

g) Income from charitable activities include income recognised as earned (as the related goods and services are provided) under contract.

Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. No such donations were received during the year.

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure is classified under the following activity headings:

a) Cost of raising funds comprises the cost of seeking donations and legacies and the costs of trading for fundraising purposes.

b) Expenditure on charitable activities includes the costs directly associated to providing horse riding facilities to further the purposes of the Charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Page 17

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Funds accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Restricted funds are those funds which can only be used in accordance with the wishes of the donor which have been raised for a particular purpose.

Operating leases

The charity classifies the lease of property as an operating lease. The rentals are charged to the Statement of Financial Activities on a straight-line basis over the lease duration.

Cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Taxation

The Charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Pensions

The company operates a defined contribution pension scheme on behalf of its staff. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions to the scheme are charged to income and expenditure account in the year in which they are payable.

Depreciation and amortisation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Asset class Depreciation method and rate Short leashold building Over length of lease Stables,etc 20% reducing balance Livestock Not depreciated Fixtures, fittings & equipment 20% on cost

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and In hand

Cash at bank and in hand includes cash and short term cash deposits.

Page 18

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Judgement and key sources of estimation uncertainty

In the application of the company's accounting policies, the charity is required to make judgments, 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 underling 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

Donations and legacies;
Gift aid reclaimed
Regular giving and capital donations
Total for 2022
Total for 2021
4
Income from charitable activities
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
49,096
9,107
58,203
93,592
Unrestricted
funds
General
£
84,246
84,246
97,788		 Restricted
funds
£
23,526
6,775
30,301
15,335
Restricted
funds
£
28,946
28,946
37,230		 Total
funds
£
72,622
15,882
88,504
108,927
Total
funds
£
113,192
113,192
135,018

Page 19

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

5 Income from other trading activities

Events income;
Other events income
Total for 2022
Total for 2021
6
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
2,337
2,337
6,504		 Restricted
funds
£
963
963
-
Unrestricted
funds
General
£
82
82
237		 Total
funds
£
3,300
3,300
6,504
Total
funds
£
82
82
237

7 Expenditure on charitable activities

Note
Governance costs
8
Total for 2021		 Unrestricted
funds
General
£
147,856
127,858		 Restricted
funds
£
85,452
64,335		 Total
funds
£
233,308
192,193

In addition to the expenditure analysed above, there are also governance costs of £233,308 (2021 - £127,858) which relate directly to charitable activities. See note 8 for further details.

Page 20

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

8 Analysis of governance and support costs

Governance costs

Staff costs
Wages and salaries
Social security costs
Pension costs
Other staff costs
Audit fees
Other fees paid to auditors
Depreciation, amortisation and other similar costs
Other governance costs
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
111,636
222
(18)
10,690
7,514
14,964
2,848
147,856
127,858		 Restricted
funds
£
-
-
-
-
-
-
85,452
85,452
-		 Total
funds
£
111,636
222
(18)
10,690
7,514
14,964
88,300
233,308
127,858

9 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Depreciation of fixed assets
10 Staff costs
The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2022
£
14,964
2022
£
111,636
222
(18)
10,690
122,530		 2021
£
27,275
2021
£
111,507
-
1,368
4,631
117,506

No employee received emoluments of more than £60,000 during the year.

Page 21

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

11 Taxation

Being a registered charity, The Wormwood Scrubs Pony Centre is exempt from tax on income and gains falling within Section 505 Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the year (2021 - none).

12 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Short
leasehold
building
£
350,000
-
350,000
350,000
-
350,000
-
-		 Stables, etc.
£
245,408
-
245,408
189,392
11,203
200,595
44,813
56,016		 Livestock
£
26,200
11,500
37,700
-
-
-
37,700
26,200		 Fixtures,
fittings &
equipment
£
130,226
-
130,226
118,550
3,761
122,311
7,915
11,676		 Total
£
751,834
11,500
763,334
657,942
14,964
672,906
90,428
93,892

Short Leasehold Building

Short leasehold building is the indoor riding school constructed during 1994 at no cost to the charity, by the BBC Television "Challenge Anneka" programme. The value shown in the accounts is an estimate of the costs of constructing the building which was prepared by HGS Groves and Partners, Chartered Quantity Surveyors and Sarah Granville, Architect in March 1994 before the project was undertaken by "Challenge Anneka".

13 Debtors

Trade debtors
14 Cash and cash equivalents
Cash at bank		 2022
£
8,910
2022
£
169,883		 2021
£
4,538
2021
£
216,869

Page 22

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

15 Creditors: amounts falling due within one year

Other loans
Other taxation and social security
Other creditors
Accruals		 2022
£
13,000
987
1,356
1,495
16,838		 2021
£
13,000
765
514
2,520
16,799

16 Creditors: amounts falling due after one year

Other loans 2022
£
26,000		 2021
£
39,000

17 Pension and other schemes

The Company operated a defined contribution pension scheme for five of its employees during the year.

18 Share capital

The company is limited by guarantee and does not have a share capital divided by shares.

19 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
General funds		 Balance at 1
April 2021
£
232,270
27,230
259,500
Balance at 1
April 2021
£
232,270		 Incoming
resources
£
144,868
60,210
205,078
Incoming
resources
£
144,868		 Resources
expended
£
(152,743)
(85,452)
(238,195)
Resources
expended
£
(152,743)		 Balance at 31
March 2022
£
224,395
1,988
226,383
Balance at 31
March 2022
£
224,395

Page 23

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

Restricted funds
Jack Petchey Foundation
John Lyon's Charity
HMRC Job Retention Scheme
LORINERSC LORINERS
GRANT 22
KEITS TRAINING SER
BHS BOUNCE BACK
H&FNNDR REFUND
HMRC Repayment
RDA London First Aid
Total restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
General funds
Restricted
Jack Petchey Foundation
John Lyon's Charity
Sport England - CEF
Forefront foundation
Total restricted funds
Total funds		 Balance at 1
April 2021
£
2,230
25,000
-
-
-
-
-
-
-
27,230
259,500
Balance at 1
April 2020
£
162,755
39,000
201,755
Balance at 1
April 2020
£
162,755
1,500
37,500
-
-
39,000
201,755		 Incoming
resources
£
1,700
-
6,420
1,788
500
2,639
12,000
2,849
1,050
28,946
173,814
Incoming
resources
£
198,121
52,565
250,686
Incoming
resources
£
198,121
2,230
25,000
10,000
15,335
52,565
250,686		 Resources
expended
£
(3,730)
(25,000)
(6,420)
-
(500)
(2,639)
(12,000)
(2,849)
(1,050)
(54,188)
(206,931)
Resources
expended
£
(128,606)
(64,335)
(192,941)
Resources
expended
£
(128,606)
(1,500)
(37,500)
(10,000)
(15,335)
(64,335)
(192,941)		 Balance at 31
March 2022
£
200
-
-
1,788
-
-
-
-
-
1,988
226,383
Balance at 31
March 2021
£
232,270
27,230
259,500
Balance at 31
March 2021
£
232,270
2,230
25,000
-
-
27,230
259,500

Page 24

The Wormwood Scrubs Pony Centre

Notes to the Financial Statements for the Year Ended 31 March 2022

20 Analysis of net assets between funds

20 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
90,428
178,793
(16,838)
(26,000)
226,383
Unrestricted
funds
General
£
93,892
221,407
(16,799)
(39,000)
259,500		 Total funds at
31 March
2022
£
90,428
178,793
(16,838)
(26,000)
226,383
Total funds at
31 March
2021
£
93,892
221,407
(16,799)
(39,000)
259,500

Page 25

The Wormwood Scrubs Pony Centre

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Unrestricted Funds

Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2022
£
58,203
84,246
2,337
82
144,868
(4,887)
(147,856)
(152,743)
(7,875)
(7,875)
232,270
224,395		 Total
Unrestricted
Funds
2021
£
93,592
97,788
6,504
237
198,121
(748)
(127,858)
(128,606)
69,515
69,515
162,755
232,270

This page does not form part of the statutory financial statements. Page 26

The Wormwood Scrubs Pony Centre

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Restricted Funds

Restricted Funds
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Total income
Expenditure on:
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2022
£
30,301
28,946
963
60,210
(85,452)
(85,452)
(25,242)
(25,242)
27,230
1,988		 Total
Restricted
Funds
2021
£
15,335
37,230
-
52,565
(64,335)
(64,335)
(11,770)
(11,770)
39,000
27,230

This page does not form part of the statutory financial statements. Page 27