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2020-08-31-accounts

Page
Reference and administrative information
Report ofthe Board 2-9
Independent
auditor's		 report 10-12
Statement
offinanmal		 activities (including income and expenditure account) 13
Balance sheet 14
Statement ofcash flows 15
Notes to the financial statements 16-25

Charity
name		 Charity
name		 The Fortune Centre of Riding Therapy
Registered Charity number 1045352
Company number 3031713(incorporated
in England
and Wales)
Constitution The Fortune
Centre
of Riding
Therapy		 (the Charity)
is		 governed by
Articles ofAssociation,
was incorporated		 on 10th March 1995and was
registered
under
the
Charities
Act 1960, and
operates		 under the
Charities Act 2011 and under the Companies Act 2006
Registered office Avon Tyrrell, Bransgore,
Chnstchurch,
Dorset,		 BH23 8EE
Contact details Miss Jane Delves, The Director
Telephone 01425673297
Trustees and Directors The Lord Manners
(Chairman)
Mrs Virginia
Newsom,
MA (Oxon) ACA
Andrew JThomson
Esq BSC MA (to 11th		 February 2020)
Mrs Alison F Moore-Gwyn,
LVO MA (Cantab)
Lady Moira Swayne
Charles Foster Esq, B Eng Hone
Dr Kate Trevelyan
Thomas,
MA (Cantab)		 MB BSC(Hone) MRCGP
Mrs Louise Adams
BA(Ed)Hone (from 3rd		 February 2020)
Key management personnel
The Director (Chief Executive Officer) Miss Jane Delves, BEd BHSAi
Assistant Director Miss Tracy Harper,
BHons Degree DTLLS
Head of Finance
Secrelary		 and Company Mrs Sarah Hough,
FCCA, FCA, Dip ChAc		 (to 25th May 2020)
Mr Matthew
Lewer (from 21st September		 2021)
Principal
Banker		 Lloyds Bank pic
4 Casae Street, Christchurch,
Dorset, BH23 t		 DU
independent auditor BDO LLP
Arcadia House,
Maritime
Walk, Southampton,		 SO14 3TL

unrestricted Designated Designated Restricted Total Total
funds furl de funds funds funds
2020 2010
Notes 6 2
Income from
Donations,
legacies and		 grants 22,806 13,216 36,022 57,644
Charitable
activities
Equine assisted therapy 2,280,386 2 280,386 2,685,414
Other trading activities:
Fundraising
events and activities		 3,702 3,702 10,483
Hire offaalities 4,966 4,966 15,671
Investment
income		 176 176 7,966
Total income 2,312,036 13,216 2,325,252 2,777,178
Expenditure
on
Charitable
activities		 3 2,321,851 6,200 2,328,051 2,708,659
Raising funds
and pubhcity		 14,253 14,253 36,775
Investment
management		 costs 1,450
Total expenditure 2,336,104 6,200 2,342.304 2,746,884
Net (expenditure)/income before
gains and losses on
investments 6 (24,068) 7,016 (17,052) 30294
Net gains on disposal of
investments 2,007
Net (expenditure)/income for
the year and movement in funds (24,068) 7,016 (17,052) 32,301
Reconciliation
offunds
Funds brought
forward		 2,250,473 7,296 13,535 2,271,304 2,239,003
Funds carded forward 15 2,226,405 7,296 20,551 2,254,252 2,271,304

2020 2019
Notes t t r. 6
Fixed assets
Tangible assets 10 1,689,217 1,805,853
Investments 11
1,689,217 1,805,853
Current assets
Stock 2,190 2,190
Debtors 12 87,980 81,770
Cash at bank and in hand 753,750 708,588
843,920 792,548
Liabilities
Creditors
amounts		 falhng due
within one year 13 (278,885) (327,097)
Net current assets 565,035 465,451
Net assets 2,254,252 2,271,304
Funds 15
Unrestricted funds
General 2,226,405 2,250,473
Designated 7,296 7,296
Total unrestncted funds 2,233,701 2,257,769
Restricted income funds 20,551 13,535
Total funds 2,254,252 2,271,304

2020 2019
Notes f f
Cash flow from operating activities 20 47,155 210,007
Cash flow from investing activities
Payments
to acquire tangible
fixed assets		 (2,169) (46,909)
Payments
to acquire investments		 (25,075)
Receipts from sales ofinvestments 299,331
Investment
income		 176 7,966
Net cash flow (used in)/generated by investing activities (1,993) 235,313
Net increase
in cash and		 cash equivalents 45,162 445,320
Cash and cash equivalents at 1 September 708,588 263,268
Cash and cash equivalents at 31 August 753,750 708,588

The only items subject The only items subject The only items subject to ju dgements
 dgements
 and estimate s
are donated		 goods and dep reciation
2 Incoming resources from charitable activities
2020 2019
f f
Equine Facilitated Education and Therapy
FETH Course and Associates 2,210,353 2,662,955
Other fees and income 70,033 22,459
2,280,386 2,685,414
3 Expenditure on charitable activities
2020 2020 2020 2019
Unrestricted Restricted Tote I Tots I
f f. f f
FETH Course and other activities
Direct costs 2,271,828 6,200 2,278,028 2,655,095
Support costs (note 4) 50,023 50,023 53,564
2,321,851 6,200 2,328,051 2,708,659

4 Support costs costs
Charitable Governance
acuvlties costS 2020 2019
f E E
Staff costs 17,749 17,749 18,326
Bank charges 1,111 1,111 1,115
Telephone 17,051 17,051 16,249
Pnnttng, postage and stationery 13,778 13,778 16,705
Trustees' expenses 334 1,169
31,940 18,083 50,023 53,564
2019Split
Charitable actiinties 34,069
Governance costs 19,495
53,564

Governance
costs
Charitable Governance
activities CostS 2020 2019
f f E E
Support costs (see note 4) 18,083 18,083 19,495
Audit fees 7,389 7,389 7,274
Other professional fees 1,426 1,426 19,405
1,426 25,472 26,898 46, 174

6 Net (ex pend iture)/inc om e
for the year
2020 2019
This is stated after charging. E E
Depreciation of fixed assets 118,805 139,368
Auditors' remuneration —audit 7,389 7,274
7 Information regarding employees
2020 2019
E f
Wages and salaries 1,556,942 1,847,777
Employer's national
insurance		 105,071 129,465
Defined contribution pension scheme costs 40,816 49,314
1,702,829 2,026,556

2020 2019
E E
At 1 September 2019 272,249
Acquisitions
at cost		 25,075
Disposal proceeds (299,331)
Gains on revaluation and disposals 2,007
At 31 August 2020

2020 2019
E E
Trade debtors 53.362 34,995
Prepayments and accrued income 34,618 46,775
87,980 81,770

Creditors : amounts
f		 alling due within one year
2020 2019
E E.
Trade creditors 21,106 30,166
Taxes and somal secunty costs 27,478 33.131
Accruals and deferred income 230,301 263,800
278,885 327,097

As at 31 August
2020 the chanty
had
annual
commitm
follows'		 ents
under
non-cancellable
operating		 leases as
2020 2019
Office ONice
equipment equipment
2 E
Faging due within one year 6,085 6,085
Falling due in two to five years 16,360 18,256
Over five years 4,189

Funds At Income Expenditure At
1 September 31August
2019 2020
Unrestricted
funds
General fund 2,250,473 2,312,036 (2,336,104) 2,226,405
Designated
funds:
Promobonal DVD
and Marketing 7,296 7,296
General and
designated
funds		 2,257,769 2,312,036 (2,336,104) 2 233,701
2,257,769 2,312,036 (2,336,104) 2,233,701
Restricted funds
McNaught
Roof		 6,000 6,000
IT facilities 1,376 (984) 392
Weekly Riding
Therapy		 3,470 3,558 (3,936) 3,092
Other 2,689 9,658 (1,280) 11,067
13,535 13,216 (6,200) 20,551
TOTAL FUNDS 2,271,304 2,325,252 (2,342,304) 2,254,252

15 Funds At Income Expenditure Transfers Net At
1 September between investment 31August
2010 funds gains 2010
Unrestricted
funds
General fund 2,105,799 2,764,892 (2,735,511) 115,293 2,250,473
Designated funds.
Promotional DVD
and Marketing 7,920 (624) 7,296
designated funds 2,113,719 2,764,892 (2,736,135) 1'I5,293 2,257,769
Investment
revaluation reserve 69,401 (71,408) 2,007
2,183,120 2,764,892 (2,736,135) 43,885 2,007 2,257,769
RestricIed funds
McNaught Roof 6,000 6,000
IT fatxkties 44,086 (2,739) (39,971) 1,376
Weekly Riding
Therapy 2,750 6,448 (2,714) (3,014) 3,470
Other 3,047 5,838 (5,296) (900) 2,689
55,883 12,286 (10,749) (43,885) 13,535
TOTAL FUNDS 2,239,003 2,777,178 (2,746,884) 2,007 2,271,304

Unrestricted Designated Restricted Total
funds funds funds funds
31stAugust 2020 K E
Tangible fixed assets 1,689,217 1,689,217
Net current assets 537,188 7,296 20,551 565,035
2,226,405 7,296 20,551 2,254,252
31stAugust 2019 f E f E
Tangible fixed assets 1,805,853 1,805,853
Net current assets 444,620 7,296 13,535 465,451
2,250,473 7 296 13,535 2,271,304

The charity's financial
instr		 uments may be analysed as follows
2020 2019
E
Financial assets
Financial assets that are measured at amortised cost 807,112 743,583
Financial liabilities
Financial liabilities measured at amortised cost 71,809 86,277
Financial assets measured at amortised cost compnse cash, trade debtors and other debtors.

Reconciliation
of ne		 t (exp endi ture)/income
to net cash flo		 w from operating
activities
2020 2019
E E
Net (expenditure)/income for the year (17,052) 32,301
Investment
income		 (176) (7,966)
Depreciation
of fixed		 assets 118,805 139,368
(Gains) on investments (2,007)
(Profit) on disposal of fixed assets
Donated assets
Decrease
in stock		 437
(Increase)
in debtors		 (6,210) (2,124)
(Decrease)/increase in creditors (48,212) 49,998
Net cash flow from operating activities 47,155 210,007

Unrestricted Designated Restricted Tora I
funds funds funds funds
2019
Income
Donations
and grants		 45,403 12,241 57,644
Charitable
activities
Equme assisted therapy 2,685,414 2,685,414
Other trading activities:
Fundraising
events and actwities		 10,438 45 10,483
Hire of facilities 15,671 15,671
Investment
income		 7,966 7,966
Total income 2,764,892 12,286 2,777,178
Expenditure
Chantable
actwities		 2,697,910 10,749 2,708,659
Raising funds
Fundraising
and publimty		 36,151 624 36,775
Investment
management		 costs 1,450 1,450
Total expenditure 2,735,511 624 10,749 2,746,884
Net income before gains and losses on
investments 29,381 (624) 1,537 30,294
Transfers
between
funds		 43,885 (43,885)
Net (losses) on disposal of investments 2,007 2,007
Net income for the year and movement in
funds 75,273 (624) (42,348) 32,301
Reconciliation
offunds
Funds brought
forward		 2,175,200 7,920 55,S83 2,239,003
Funds carried forward 2,250,473 7,296 13,535 2,271,304