| Charity name | Charity name | The Sir Peter O'Sullevan | Charitable | Charitable | Trust | ||
|---|---|---|---|---|---|---|---|
| Charity registration | numb | 1078889 | |||||
| Address | The Old School | ||||||
| Bolventor | |||||||
| Launceston | |||||||
| Cornwall PL157TS |
|||||||
| Management | Committee | Geoffrey Hughes | |||||
| Michael Dillon |
|||||||
| Nigel Payne MBE | |||||||
| Trustees | Michael Dillon |
||||||
| Nigel Payne MBE | |||||||
| Geoffrey Hughes | |||||||
| Michael Kerr-Dineen | |||||||
| John McManus | |||||||
| Sir Anthony McCoy OBE |
|||||||
| Diedre Flood | |||||||
| Administrator | Nigel Payne MBE | ||||||
| Investment | Managers | Vermeer Partners, 130Jermyn Street, London SW1Y4UR |
|||||
| Auditors | C Jezierski Associates, |
Chiswick, | London W4 2LR | ||||
| Bankers | Weatherbys Bank Limited |
||||||
| Sanders Road | |||||||
| Wellingborough, Northamptonshire |
NN8 4BX | ||||||
| Website | htt://www. thevoiceofracin |
.com |
| 2023 | 2022 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | Unrestricted | funds | Unrestricted | funds | |||||
| Incoming resources | |||||||||
| Incoming resources | from | generated | funds | ||||||
| Voluntary income |
Donations legacies |
and other | 87,469 | 86,790 | |||||
| Activities for generating funds |
Fund raising auction |
lunch and | 188,025 | 172,250 | |||||
| Christmas | card sales | 29,608 | 18,411 | ||||||
| Investment income |
Dividends received |
and Interest | 89,984 | 108,138 | |||||
| Total incoming resources |
395,086 | 385,589 | |||||||
| Resources Expended | |||||||||
| Cost of generating funds |
|||||||||
| Fundraising trading costs |
Fund raising lunch and auction costs |
3 | 143,030 | 123,518 | |||||
| Costs of Sales | 4 | 17,977 | 15,496 | ||||||
| Fundraising | and publicity | 6 | 21,667 | 25,378 | |||||
| Investment costs |
management | 15,541 | 13,749 | ||||||
| Total cost of generating | funds | 182,673 | 178,142 | ||||||
| Expenditure on Charitable |
activities | ||||||||
| Grants and Donations | 7 - 12 | 1,254,500 | 1,024,996 | ||||||
| Governance costs | |||||||||
| Management and administration ofthe |
Charity | 13 | 124,792 | 118,971 | |||||
| Total resources expended | 1,561,965 | 1,322,108 | |||||||
| Net (outgoing) resources | (1,1 | 66,880) | (936,519) | ||||||
| Net Gains / (Losses) on Investments |
(2 I5,932) | 214,529 | |||||||
| Fund balances brought |
forward | 19 | 3,332,987 | 4,054,976 | |||||
| Fund balances carried | forward | 1,950,176 | 3,332,987 | ||||||
| The notes on pages 9to 17 | form part of | these accounts. |
| Notes | 30th April | 2023 | 30th April | 2022 | |||
|---|---|---|---|---|---|---|---|
| Fixed Assets | |||||||
| Investments | 16 | 1,919,587 | 3,520,534 | ||||
| Current Assets | |||||||
| Cash at bank | 99,278 | 66,847 | |||||
| Debtors | 17 | 6,068 | 5,730 | ||||
| 105,345 | 72,577 | ||||||
| Creditors: | |||||||
| amounts | falling due within | 18 | 74,756 | 260,124 | |||
| one year | |||||||
| Net current | assets | 30,589 | (187,547) | ||||
| Net assets | 1,950,176 | 3,332,987 | |||||
| Represented | by: | ||||||
| FUNDS of | the | Charity | 1,950,176 | 3,332,987 | |||
| Unrestricted | funds | 19 | 1,950,176 | 3,332,987 | |||
| Nigel Pay | MBE |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | Total funds | Total funds | |||
| Cash flows from Investing | activities | ||||
| Cash infows: | |||||
| Sale of investments Interest and dividends |
3,694,012 89,984 |
1,126,756 108,138 |
|||
| Cash outflows: | |||||
| Purchase of Investments Investment management costs |
(2,381,171) (15,541) |
(376,966) (13,749) |
|||
| Cash flows from investing activities |
1,387,284 | 844,179 | |||
| Cash flows from operating |
activities | ||||
| Net cash Inflows | |||||
| Donations and proceeds from fund |
raising activities | 305,101 | 277,451 | ||
| Cash oufflows: | |||||
| Charitable Grants and donations paid |
(1,437,868) | (952,876) | |||
| Fundraising and cost of fundraising |
events | (181,450) | (164,392) | ||
| Other expenditure | (128,888) | (116,377) | |||
| Net cash flows from operating activities |
(1,443,105) | (956,194) | |||
| Net Cash Flow | (55,821) | (112,015) | |||
| Cash and cash equivalents | brought | forward | 184,309 | 296,324 | |
| Cash and cash equivalents | carried | forward | 20 | 128,488 | 184,309 |
| Notes to the Accounts | Notes to the Accounts | |
|---|---|---|
| for the year ended | 30th April 2023 | |
| 1.Accounting Policies The accounts (financial statements) have been prepared under the historical cost |
||
| convention with items recognised at cost or transaction value unless otherwise stated |
in | |
| the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)issued on the 16th July 2014 and the Charities Act 2011. |
||
| The Trust constitutes a public benefit entity as defined by FRS 102. |
||
| Basis ofaccounting | The Trustees consider that there are no material uncertainties about the Trust's ability continue as a Going Concern. |
to |
| Fixed assets Investments |
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet |
|
| date using the closing quoted market price. The statement of financial activities includes |
||
| the net gains and losses arising on revaluation and disposals throughout the year. |
||
| INCOMING RESOURCES | ||
| Recognition of Incoming resources |
All incoming resources are included in the statement of financial activities when the charity is entitled to the income, the trustees are virtually certain they will receive the resources and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. |
|
| Donations and legacies |
Voluntary income received by way of donations and legacies is only included in the SoFA when the charity has unconditional entitlement to the resources. |
|
| Donated services and facilities |
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility provided. |
|
| Investment income |
Investment income is included when receivable. |
|
| Incoming resources with related |
Where incoming resources have related expenditure (as with fundraising or contract |
|
| expenditure | income) the incoming resources and related expenditure are reported gross in the SoFA. |
|
| EXPENDITURE AND LIABILITIES | ||
| Liability recognition | Liabilities other than charitable grants and distribtions are recognised as soon as there a legal or constructive obligation committing the charity to pay out resources. |
is |
| Governance costs | Include costs of the preparation and audit of the statutory accounts, the costs of trustee |
|
| meetings and cost of any advice to the Trustees on governance or constitutional matters. |
| 2.Donations and other legacies received |
2.Donations and other legacies received |
2.Donations and other legacies received |
2023 | 2022 | |||
|---|---|---|---|---|---|---|---|
| Donations received |
87,469 | 86,790 | |||||
| 87,469 | 86,790 | ||||||
| 3.Fund raising lunch | 2023 | 2022 | |||||
| Ticket Sales Auction proceeds Sponsorship |
63,525 104,500 20,000 |
65,250 87,000 20,000 |
|||||
| Gross proceeds of fund raising | lunch | 188,025 | 172,250 | ||||
| Fund raising lunch costs |
2023 | 2022 | |||||
| Catering and other lunch costs Costs of goods auctioned |
135,117 7,913 |
118,914 4,604 |
|||||
| Costs of fund raising lunch |
143,030 | 123,518 | |||||
| Net proceeds from fund raising | lunch | 44,996 | 48,732 | ||||
| 4.Christmas cards, book and memorabilia |
Sales | 2023 | 2022 | ||||
| Christmas cards, book, memorabilia advances |
and | print sales and book | 29,608 | 18,411 | |||
| Christmas card production and |
distribution | costs | 17,977 | 15,496 | |||
| Net proceeds from sales of Christmas |
Cards, memorabilia | and | 11,631 | 2,915 | |||
| prints |
| 5.Investment Income |
2023 | 2022 | |
|---|---|---|---|
| Dividends and interest |
89,984 | 107,434 | |
| 89,984 | 107,434 | ||
| 6.Fundraislng and publlclty |
2023 | 2022 | |
| Newbury Racecourse |
20,400 | 20,000 | |
| Other fundraising and publicity costs |
1,267 | 5,378 | |
| 21,667 | 25,378 | ||
| 7.Grants and charitable distributions |
2023 | 2022 | |
| The following grants and charitable distributions |
have been | ||
| committed by the Charity during the year. |
|||
| Annually recurring grants ( Note 8) |
150,000 | 180,000 | |
| Grants for specific projects and other good causes committed and paid during the year ( Note 10) |
1,039,500 | 702,876 | |
| Payments made during the year to meet previous (Note 9) |
commitments | 248,368 | 70,000 |
| Total payments made during the year |
1,437,868 | 952,876 | |
| Grants for specific projects and other good causes committed during the year but not paid by 30th April 2023 ( Note11 ) |
65,000 | 142,120 | |
| Payments made during the year to meet previous |
commitments | (248,368) | (70,000) |
| Grants and distributions for the year |
1,254,500 | 1,024,996 |
| 8.Annually recurring grants |
8.Annually recurring grants |
2023 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| The Brooke | 25,000 | 30,000 | ||||||
| World Horse Welfare | 25,000 | 30,000 | ||||||
| Compassion in World Farming Blue Cross The British Thoroughbred Rehabilitation |
Centre | 25,000 25,000 25,000 |
30,000 30,000 30,000 |
|||||
| Racing Welfare | 25,000 | 30,000 | ||||||
| Total paid during the year | 150,000 | 180,000 | ||||||
| The above are annual grants which the Trust has made |
every year since | its inception | in 1999from | its | ||||
| income. These payments have been made every year from |
the proceeds | ofthe Trust's | fund raising | lunch | ||||
| and other income and have varied each year depending | on the income of | the Trust. | ||||||
| 9.Grants for specific projects and other | good causes paid | |||||||
| during the year | ||||||||
| Payments made during the year to |
meet previous | commitments | ||||||
| 2023 | 2022 | |||||||
| Lambourn Open Day Grant for 2022 |
53,240 | |||||||
| Lambourn Open Day Grant for 2023 paid |
in March 2023 | 58,564 | ||||||
| Children Equine Therapy SLTH |
20,000 | |||||||
| Part cost of simulator RDA North Cornwall |
20,000 | |||||||
| Towards mini bus Knotty Ash School Deaf services |
20,000 | |||||||
| Sponsor Ponies Park Palace ponies | 15,000 | |||||||
| Pony therapy I o W Donkeys |
11,064 | |||||||
| Carriage/ Handicapped RDA BARROW |
11,000 | |||||||
| General Overheads Liverpool Singing Choir |
10,000 | |||||||
| Land Acquistion Project Park Palace ponies |
10,000 | |||||||
| IJF Golf Day Jim Old | 10,000 | |||||||
| RDA Knightsbridge | 7,500 | |||||||
| Ukraine Red Cross Appeal OSG |
2,000 | |||||||
| Total payments made during the year to meet previous commitments |
248,368 | 70,000 | ||||||
| 10.Grants for specific projects and other | good causes | |||||||
| oald | durino the vear | |||||||
| 2023 | 2022 | |||||||
| Payments committed and paid during |
the year | |||||||
| Injured Jockeys fund | 225,000 | |||||||
| British Racing School / Newmarket Pony Academy |
60,000 | |||||||
| Mare and foal sanctuary/ HEIR |
40,000 | |||||||
| Racing to School | 33,000 | |||||||
| sub total | 358,000 |
| Grants for specific proje | cts | and other good causes | 2023 | 2022 |
| during the year (continued) | ||||
| Sub total from previous page | 358,000 | |||
| The Urban Equestrian Academy |
30,000 | |||
| British Racing School Riding a | Dream | 28,800 | ||
| Painted Horse | 27,343 | |||
| StJames City Farm Gloucester | 20,647 | |||
| Clwyd Special Donkey Riding Centre | 20,400 | |||
| Rescue Ranch / EAT |
20,000 | |||
| East Liverpool RDA |
20,000 | |||
| Belvoir Vale RDA | 20,000 | |||
| Ravelrig RDA |
20,000 | |||
| NB Horses TA New Beginings | 20,000 | |||
| Fortune Centre of Riding Therapy | 20,000 | |||
| Sirona Therapeutic Horsemans |
Ship | 20,000 | ||
| Greatwood Charity |
20,000 | |||
| Key4Life | 20,000 | |||
| Horseback UK Ltd |
20,000 | |||
| Northern Racing College |
19,980 | |||
| World Horse Welfare | 18,000 | |||
| Equine Therapy | 18,000 | |||
| Racing to Relate | 16,300 | |||
| Campbell School Aberdeen |
16,000 | |||
| Jamies farm | 15,000 | |||
| Park palace ponies | 15,000 | |||
| Digswell Place Group RDA | 15,000 | |||
| Farm Animal Sanctuary | 15,000 | |||
| Isle Of Wight Donkey Sanctuary | 15,000 | |||
| Equine Therapy Centre |
14,930 | |||
| Kesteven Rideability |
14,500 | |||
| Horse trust | 12,600 | |||
| The National Horse Racing |
Museum | 12,500 | ||
| New Beginnings | 10,000 | |||
| Kyle group RDA | 10,000 | |||
| Demelza | 10,000 | |||
| Cambride College |
10,000 | |||
| Horse Sense Wirral | 10,000 | |||
| Hopton Re hab and Homing | 10,000 | |||
| Vauxhall City Farm |
10,000 | |||
| Maisemore RDA |
10,000 | |||
| Stable Lives | 10,000 | |||
| Border Group RDA | 10,000 | |||
| Calon RDA Groom Wages | 8,000 | |||
| Calon RDA | 7,500 | |||
| Bodmin Moor land Pony Rehab Great British racing limited |
5,000 4,000 |
|||
| Raystede Animal Welfare Jamies Farm The Childhood |
Trust | 3,000 2,000 |
||
| Sub total | 1,032,500 |
| 10.Grants for specific proJects and other good causes | 10.Grants for specific proJects and other good causes | 10.Grants for specific proJects and other good causes | 10.Grants for specific proJects and other good causes | 2023 | 2022 |
|---|---|---|---|---|---|
| paid | durina the vear (continued) |
R | |||
| Sub total from previous page | 1,032,500 | ||||
| Phipps Covid hardship payment |
2,000 | ||||
| Phipps Covid hardship payment |
(2nd payment) | 2,000 | |||
| Retraining for Racehorses |
2,000 | ||||
| Retraining for Racehorses (2nd |
payment) | 1,000 | |||
| Total payments committed and paid during |
the year | 1,039,500 | 702,876 | ||
| 2023 | 2022 | ||||
| Total payments during the year for specific projects and other |
|||||
| good causes | 1,437,868 | 952,876 | |||
| 11.Grants for specific projects and other good causes | |||||
| made | during the year | ||||
| The following additional commitments to future payments |
2023 | 2022 | |||
| have been recognised In these |
accounts | ||||
| Equine Therapy Festina | 25,000 | ||||
| Canter Equine Assisted Therapy | 20,000 | ||||
| Rescue Ranch The way ofthe horse | 10,000 | ||||
| Redwings RDA |
10,000 | ||||
| Total grants committed during the year but not April 2023 |
paid by 30th | 65,000 | 142,120 |
| 12.Grants and charitable distributions, |
12.Grants and charitable distributions, |
pledged | and committed | ||
|---|---|---|---|---|---|
| The following grants and charitable April 2023 |
distributions | were pledged | by the Charity but had |
not been paid by 30th | |
| 2023 | 2022 | ||||
| E | |||||
| Equine Therapy Festina |
25,000 | ||||
| Canter Equine Assisted Therapy |
20,000 | ||||
| Rescue Ranch The way of the horse | 10,000 | ||||
| Redwings RDA |
10,000 | ||||
| Website Racehorse Relief |
5,556 | ||||
| Total amount due under obligations 2023 |
existing as | at 30th April | 70,556 | 253,924 | |
| Amounts due within one year |
70,556 | 253,924 | |||
| Total amount due under obligations 2023 |
existing as | at 30th April | 70,556 | 253,924 | |
| 13.Management and administration |
ofthe Charity | 2023 | 2022 | ||
| Managing Trustees fees |
109,996 | 104,996 | |||
| Auditors remuneration |
4,200 | 4,200 | |||
| Other costs | 10,596 | 1,120 | |||
| 124,792 | 110,316 |
| 16.Fixed Asset Investments | 2023 | 2022 | |
| Balance brought forward |
3,520,534 | 4,161,616 | |
| Add: additions to investments at cost Disposals at carrying value Unrealised (losses) / gains on investments |
2,381,171 (3,893,832) |
376,966 (1,096,388) 184,161 |
|
| Increase/(Decrease) in cash deposits included in the Investment Portfolio |
and accrued income | (88,286) | (105,821) |
| Market value as at 30th April 2023 | 1,919,587 | 3,520,534 | |
| Fixed asset investments are comprised |
of: | 2023 | 2022 |
| Equities Fixed Interest Securities |
1,890,410 | 1,604,456 740,017 |
|
| Investment Funds |
368,177 | ||
| Alternative Investments Cash held within the Investment portfolio |
29,177 | 690,422 117,462 |
|
| Market value as at 30th April 2023 | 1,919,587 | 3,520,534 | |
| 17.Debtors | 2023 | 2022 | |
| Prepaid lunch Expenditure |
6,068 | 5,730 |
| 18.Creditors | -Amounts | -Amounts | due within one year | due within one year | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Accruals | for Grants | payable | ( Note 12) | 70,556 | 253,924 | |
| Other creditors | 4,200 | 6,200 | ||||
| 74,756 | 260,124 | |||||
| 19.Reserves | 2023 | 2022 | ||||
| General | purpose | fund | 1,950,176 | 3,332,987 |
| 20.Cash and cash equivalents | at the year end | 2023 | 2022 |
|---|---|---|---|
| Cash held within Investment Portfolio Cash held for operating activities |
29,210 99,278 |
117,462 66,847 |
|
| 128,488 | 184,309 |