OpenCharities

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

2023-03-31-accounts

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR STEPNEY BANK STABLES LTD

STEPNEY BANK STABLES LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 24
Detailed Statement of Financial Activities 25 to 27

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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

Objectives and aims

Stepney Bank Stables (SBS) aims to bring joy and enhance the lasting life chances of young people through caring for and riding horses. We provide young people with somewhere to go, something to do and someone to trust 363 days per year. We primarily, but not exclusively, engage with children and young people aged 8-18 from the local community. We aim to develop the emotional and social capabilities of our attendees with particular focus on confidence, communication, building relationships, responsibility, teamwork and perseverance. We attract young people from a diverse range of socioeconomic backgrounds creating a mutually beneficial, socially inclusive environment. All young people joining our Young Volunteer Project complete an initial training programme in order to acquire the necessary skills, competencies and knowledge to support others safely and effectively. Through volunteering young people have the opportunity to earn credits to facilitate their own riding lessons. Our team work tirelessly to create trusting relationships with all our attendees and support them throughout their time at SBS. When volunteer status is achieved, our young people access a variety of programmes and workshops provided by our staff team and learning partners to further enhance and enrich their lives.

Our Aims

SBS is committed to making horses accessible to the whole community. The objects of the charity are set out in the Charity's trust deed and are summarised as follows:

SBS aims to develop the skills and character of all young people accessing our project. Through interactions with horses, our staff team, and other partners, we create a range of opportunities in a safe, inclusive environment. By actively promoting progress, we aim to raise aspirations, boost self-esteem, and develop skills which allow all of our volunteers to realise their potential.

Public benefit

The charity conducts a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised above, provide benefit both to those who directly receive services, and the wider community of Newcastle upon Tyne.

The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published the Charity Commission.

Page 1

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In 2022-23 Stepney Bank Stables continued to support young people from all areas in and around the city of Newcastle. Throughout the year young people continued to contribute their voluntary time to help with the continuing running of the stables. They also took part in a variety of trips and activities including learning how to repair a bike, ice skating, and a trip to visit the police stables.

FINANCIAL REVIEW

Financial position

Income of £412,856 (2022 - £552,679) was generated in the year, of which £51,859 (2022 - £137,438) related to restricted funds. An operating loss of £79, 040 (2022 Surplus £98,804) was generated for this financial year, of which £12,263 (2022 - Surplus £31,716) related to restricted funds.

The last financial year was a challenging one for SBS. A significant decrease in grant income from 2022 (£160,840 to £66,322) played a major part in the loss for the year. Part of this decrease reflects the nature of grants received in the year which differed somewhat to those received in previous years as they often reflected conditions stipulating the nature of the expenditure they would cover and hence the time period the funds were to be spent, for example, in meeting particular staff costs. Accordingly, an aggregate amount of £53,509 of grant income received has been deferred as a liability at 31 March 2023 and will be recognised as income in the following year when the relevant conditions are met.

Other factors that have contributed to the loss for the year include lower equestrian lesson income (£321,966 compared to £375,836) reflecting challenges around recruitment of appropriately skilled and qualified staff and the availability of suitable horses, and significant staff turnover, including at CEO level, which contributed to higher staff costs (£261,432 compared with £238,300). There have also been increased costs associated with fixed assets, notably depreciation charges relating to a new arena surface. Additional legal and professional fees reflect increased costs in areas such as HR support and external bookkeeping services and fundraiser costs comprise bid writer fees.

Page 2

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW

Reserves policy

In order to:

the trustees believe that a target reserve level of three months of expenditure is an appropriate reserve level to aim at.

Thus, the target reserve level at 31 March 2023 can be considered to be £120,000.

At 31 March 2023, SBS held unrestricted reserves of £122,801. Of that amount, £65,761 related to fixed assets and hence was not readily available to fulfil the reserve policy objectives set out above and a further amount approximating £10,000 was committed to the purchase of new vehicles. These amounts should therefore be deducted from the unrestricted reserves figure. Conversely, £53,509 of deferred income was recognised as a liability, and hence represented a deduction from reserves. As this amount comprises grants that have been received and will be available to SBS in fulfilling its charitable objectives in the following financial year, it has been added back to unrestricted reserves for the purposes of determining available reserves. Thus, the relevant reserve level for assessment against target at 31 March 2023 is approximately £100,000.

The Trustees acknowledge that the current reserve level is below the target level and will seek to replenish reserve levels through efforts to increase income and control expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

New Trustees are appointed by existing Trustees. All members of the Board will receive induction to the roles and responsibilities of a Trustee, and ongoing training based on their individual needs.

Related parties

None of our Trustees receive remuneration or other benefits from their work with the

relationship with a related party. Any connection between a Trustee or Senior Manager of the charity must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party.

Page 3

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the governance, operation and finances of the charity. Risks are managed by the Trustees and there is a comprehensive risk register which is reviewed on at least an annual basis.

The most significant risks to SBS at present are deemed to be the following:

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03910561 (England and Wales)

Registered Charity number

1084687

Registered office

Stepney Bank Newcastle Upon Tyne NE1 2PN

Trustees

Dr R A M Abdelbadie Dr R A M Abdelbadie Mr G Fletcher Ms J Cornhill Ms A A Beckham Mr D Granath Mr S D Campbell Ms S Steel-Hoath Ms J Robason Mr T J Lewin

appointed 10 September 2022 appointed 15 September 2022 appointed 15 November 2022 resigned 30 October 2023

resigned 9 November 2023 resigned 13 April 2022

appointed 8 September 2022 appointed 27 September 2023

Centre manager

Sara Newson

Page 4

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF

Bankers

The Co-operative Bank plc PO Box 1011 1 Balloon Street Manchester M60 4EP

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Stepney Bank Stables Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

Approved by order of the board of trustees on 29 November 2023 and signed on its behalf by:

Mr. G Fletcher - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEPNEY BANK STABLES LTD

Independent examiner's report to the trustees of Stepney Bank Stables Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (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 Company 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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 Company 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.

Nick J Liley FCA

Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF

4 December 2023

Page 6

STEPNEY BANK STABLES LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
12,754
Charitable activities
5
Contracts
321,966
Grant income
21,963
Other trading activities
3
3,086
Investment income
4
-
Other income
1,228
Total
360,997
EXPENDITURE ON
Raising funds
6
2,306
Charitable activities
7
Staff costs
212,622
Subcontract costs
20,326
Horse costs
49,926
Youth work and other costs
1,899
Employee costs
1,907
Motor and travel costs
5,936
Premises costs
61,027
General administrative costs
29,018
Legal and professional costs
17,517
Fundraising costs
25,290
Total
427,774
NET INCOME/(EXPENDITURE)
(66,777)
RECONCILIATION OF FUNDS
Total funds brought forward
189,578
TOTAL FUNDS CARRIED FORWARD
122,801		 Restricted
funds
£
7,500
-
44,359
-
-
-
51,859
-
48,810
1,372
3,752
4,190
2,639
412
1,272
1,107
568
-
64,122
(12,263)
12,263
-		 2023
Total
funds
£
20,254
321,966
66,322
3,086
-
1,228
412,856
2,306
261,432
21,698
53,678
6,089
4,546
6,348
62,299
30,125
18,085
25,290
491,896
(79,040)
201,841
122,801		 2022
Total
funds
£
1,808
375,836
160,840
11,549
142
2,504
552,679
3,464
238,300
25,483
51,032
11,215
7,262
9,550
61,994
28,609
10,355
6,611
453,875
98,804
103,037
201,841

The notes form part of these financial statements

Page 7

STEPNEY BANK STABLES LTD

BALANCE SHEET 31 MARCH 2023

Notes
FIXED ASSETS
Intangible assets
14
Tangible assets
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2023
£
-
65,761
65,761
106
7,329
119,157
126,592
(69,552)
57,040
122,801
122,801
122,801
-
122,801		 2022
£
9,382
71,376
80,758
479
970
170,846
172,295
(51,212)
121,083
201,841
201,841
189,578
12,263
201,841

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

STEPNEY BANK STABLES LTD

BALANCE SHEET - continued 31 MARCH 2023

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

The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2023 and were signed on its behalf by:

Mr. G Fletcher - Trustee

The notes form part of these financial statements

Page 9

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Going Concern

The financial statements are prepared on the going concern basis. In the opinion of trustees, no material uncertainties exist about the charity's ability to continue.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is recognised as a cost, charged to the activity under which the related expenditure arose.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are amortised over 5 years of useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 10% on cost
Fixtures and fittings - 10% on cost
Horses - Straight line over 15 years
Computer equipment - 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 10

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
Gift aid
OTHER TRADING ACTIVITIES
Gift shop income
Café charges
Hoodies, polo and sweatshirts
Product sales income		 2023
£
18,980
1,274
20,254
2023
£
392
2,043
651
-
3,086		 2022
£
1,808
-
1,808
2022
£
1,116
6,859
2,998
576
11,549

3. OTHER TRADING ACTIVITIES

continued...

Page 11

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

4.
INVESTMENT INCOME
Bank interest received
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Alternative provision
Contracts
Group bookings
Contracts
Schools
Contracts
Equestrian income
Contracts
Grants
Grant income
Apprentice grants
Grant income
Grants received, included in the above, are as follows:
Arnold Clark Community Fund
Awards for All
BBC Children in Need
BNI Foundation
Clothworkers
Community Foundation
Edward Gostling Foundation
Emile Faurie Foundation
Garfield Weston Foundation
Graham Wylie Foundation
Groundwork - Tesco
Hadrian Trust
Hospital of God Greatham
Joseph Strong Frazer Trust
NCC Byker Ward
NE Youth
R W Gibson Trust
Sir James Knott Trust
Street Games UK
The British Equestrian Federation
The British Horse Society
The Joicey Trust
The Rothley Trust
The Schofield Trust
VCSE - Readiness Fund
Newcastle City Council
Carried forward		 2023
£
-
2023
£
22,428
-
-
299,538
61,359
4,963
388,288
2023
£
1,000
2,460
-
-
-
-
1,666
1,000
-
-
-
-
-
2,500
-
-
-
-
300
920
200
2,000
-
-
4,000
-
16,046		 2022
£
142
2022
£
22,157
18,969
18,550
316,160
160,840
-
536,676
2022
£
1,000
8,537
18,456
960
13,000
6,289
3,942
500
20,000
10,400
500
1,000
1,000
2,500
2,238
1,200
3,000
9,350
18,344
8,537
3,000
2,100
900
685
1,000
18,194
156,632

continued...

Page 12

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Brought forward
NCC - Education and Skills
Mint Business Club - Kickstart
Go Fund Me Page
R F F Gibson
Finn Family Fund
Loriners Trust
1989 Willan Charitable Trust
Elsie Davis Trust
Newcastle Fund
Northumbria Police and Crime Commission
Percy Hedley 1990 Charitable Trust
Roy and Pixi Trust
Sylvia Waddilove Foundation
The Barbour Foundation		 2023
£
16,046
-
-
-
8,000
1,000
500
4,161
5,000
20,453
324
500
1,000
375
4,000
61,359		 2022
£
156,632
3,500
650
58
-
-
-
-
-
-
-
-
-
-
-
160,840

6. RAISING FUNDS Other trading activities

Purchases
Gift shop expenses
7.
CHARITABLE ACTIVITIES COSTS		 2023
£
749
1,557
2,306		 2022
£
-
3,464
3,464
Staff costs
Subcontract costs
Horse costs
Youth work and other costs
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
Fundraising costs		 Direct
Costs (see
note 8)
£
261,432
21,698
53,678
6,089
-
-
-
-
-
-
342,897		 Support
costs (see
note 9)
£
-
-
-
-
4,546
6,348
62,299
30,125
18,085
25,290
146,693		 Totals
£
261,432
21,698
53,678
6,089
4,546
6,348
62,299
30,125
18,085
25,290
489,590

continued...

Page 13

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Payroll expenses
Admin and management costs
Subcontractors
Horse costs
Volunteer expenses
Room hire
Rosettes, certificates and exams
Youth activities, trips and workshops
Youth riding lessons
Youth accreditation		 2023
£
243,134
-
18,298
21,698
53,678
900
-
2,262
2,412
-
515
342,897		 2022
£
236,288
109
1,903
25,483
51,032
1,630
800
1,567
5,018
2,200
-
326,030
9.
SUPPORT COSTS
Governance
Management
costs
£
£
Employee costs
4,546
-
Motor and travel costs
6,348
-
Premises costs
62,299
-
General administrative costs
30,125
-
Legal and professional costs
7,933
10,152
Fundraising costs
25,290
-
136,541
10,152
10.
NET INCOME/(EXPENDITURE)		 Totals
£
4,546
6,348
62,299
30,125
18,085
25,290
146,693

Net income/(expenditure) is stated after charging/(crediting):

Accountancy fees
Bookkeeping services
Depreciation - owned assets
Surplus/(deficit) on disposal of fixed assets
Website development amortisation		 2023
£
1,440
8,712
15,268
(1,228)
4,462		 2022
£
1,200
798
8,352
234
1,275

continued...

Page 14

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
232,019
8,420
2,695
243,134		 2022
£
224,780
8,800
2,708
236,288

The charity's key management personnel comprise the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel were £36,814 (2022 - £32,515).

The average monthly number of employees during the year was as follows:

Chief officer
Centre manager
Administration
Equestrian
Youth		 2023
-
1
1
7
3
12		 2022
1
-
2
9
4
16

No employees received emoluments in excess of £60,000.

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,808 - 1,808
Charitable activities
Contracts 375,836 - 375,836
Grant income 23,402 137,438 160,840
Other trading activities 11,549 - 11,549
Investment income 142 - 142
Other income 2,504 - 2,504

Page 15

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
Total 415,241 137,438 552,679
EXPENDITURE ON
Raising funds 3,122 342 3,464
Charitable activities
Staff costs 172,858 65,442 238,300
Subcontract costs 23,964 1,519 25,483
Horse costs 39,100 11,932 51,032
Youth work and other costs 662 10,553 11,215
Employee costs 4,193 3,069 7,262
Motor and travel costs 4,056 5,494 9,550
Premises costs 58,077 3,917 61,994
General administrative costs 27,197 1,412 28,609
Legal and professional costs 8,642 1,713 10,355
Fundraising costs 6,611 - 6,611
Total 348,482 105,393 453,875
NET INCOME 66,759 32,045 98,804
Transfers between funds 43,456 (43,456) -
Net movement in funds 110,215 (11,411) 98,804
RECONCILIATION OF FUNDS
Total funds brought forward 79,363 23,674 103,037
TOTAL FUNDS CARRIED
FORWARD 189,578 12,263 201,841

Page 16

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. INTANGIBLE FIXED ASSETS

COST
At 1 April 2022
Reclassification/transfer
At 31 March 2023
AMORTISATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
TANGIBLE FIXED ASSETS
Equipment
£
COST
At 1 April 2022
51,049
Additions
17,526
Disposals
(28,000)
At 31 March 2023
40,575
DEPRECIATION
At 1 April 2022
28,649
Charge for year
9,780
Eliminated on disposal
(10,270)
At 31 March 2023
28,159
NET BOOK VALUE
At 31 March 2023
12,416
At 31 March 2022
22,400		 Fixtures
and
fittings
£
50,965
-
-
50,965
44,406
660
-
45,066
5,899
6,559		 Website
development
£
24,041
(4,920)
19,121
14,659
4,462
19,121
-
9,382
Computer
Horses
equipment
Totals
£
£
£
41,275
8,624
151,913
30,500
-
48,026
(23,725)
-
(51,725)
48,050
8,624
148,214
7,482
-
80,537
3,104
1,724
15,268
(3,082)
-
(13,352)
7,504
1,724
82,453
40,546
6,900
65,761
33,793
8,624
71,376

15. TANGIBLE FIXED ASSETS

continued...

Page 17

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16.
STOCKS
2023
£
Finished goods
106
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade debtors
4,256
Prepayments and accrued income
3,073
7,329
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade creditors
3,484
Social security and other taxes
4,689
Other creditors
749
Accrued expenses
7,121
Deferred income
53,509
69,552
19.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2023
£
Within one year
5,000
Between one and five years
15,000
20,000		 2022
£
479
2022
£
970
-
970
2022
£
6,453
4,232
23,542
16,985
-
51,212
2022
£
5,000
20,000
25,000

This is a 20 year operating lease running until 2027. The rent is 10% of Market Value which is £80,000 however the rent has been maintained at £5,000 per annum by The Ouseburn Trust.

continued...

Page 18

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
fund
£
Fixed assets
65,761
Current assets
73,083
Current liabilities
(16,043)
122,801
21.
MOVEMENT IN FUNDS		 Restricted
funds
£
-
53,509
(53,509)
-		 2023
Total
funds
£
65,761
126,592
(69,552)
122,801		 2022
Total
funds
£
80,758
172,295
(51,212)
201,841
Unrestricted funds
General fund
Restricted funds
Graham Wylie Foundation
TOTAL FUNDS		 At 1/4/22
£
189,578
12,263
201,841		 Net
movement
in funds
£
(66,777)
(12,263)
(79,040)		 At
31/3/23
£
122,801
-
122,801

continued...

Page 19

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Graham Wylie Foundation
Awards for All
Edward Gostling Foundation
Emile Faurie Foundation
Street Games UK
British Equestrian Federation
British Horse Society
The Joicey Trust
The 1989 Willan Charitable Trust
Elsie Davis Trust
Donation towards salary costs
Newcastle Fund
Northumbria Police and Crime
Commissioner
Percy Hedley 1990 Charitable Trust
Roy and Pixi Trust
The Sylvia Waddilove Foundation
The Barbour Foundation
TOTAL FUNDS		 Incoming
resources
£
360,997
-
2,460
1,666
1,000
300
920
200
2,000
4,161
5,000
7,500
20,453
324
500
1,000
375
4,000
51,859
412,856		 Resources
Movement
expended
in funds
£
£
(427,774)
(66,777)
(12,263)
(12,263)
(2,460)
-
(1,666)
-
(1,000)
-
(300)
-
(920)
-
(200)
-
(2,000)
-
(4,161)
-
(5,000)
-
(7,500)
-
(20,453)
-
(324)
-
(500)
-
(1,000)
-
(375)
-
(4,000)
-
(64,122)
(12,263)
(491,896)
(79,040)

continued...

Page 20

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Sir Peter Sullavan Charitable Trust
Blackhouse Trust
BBC Children in Need
Graham Wylie Foundation
R W Mann Trust
Clothworkers
Souter Charitable Trust
TOTAL FUNDS		 At 1/4/21
£
79,363
12,000
58
-
9,416
1,000
-
1,200
23,674
103,037		 Net
movement
in funds
£
66,759
-
(58)
18,456
2,847
(1,000)
13,000
(1,200)
32,045
98,804		 Transfers
between
funds
£
43,456
(12,000)
-
(18,456)
-
-
(13,000)
-
(43,456)
-		 At
31/3/22
£
189,578
-
-
-
12,263
-
-
-
12,263
201,841

continued...

Page 21

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Blackhouse Trust
BBC Children in Need
Community Foundation
Graham Wylie Foundation
Joseph Strong Frazer Trust
R W Mann Trust
Arnold Clark Community Fund
Awards for All
BNI Foundation
Clothworkers
Edward Gostling Foundation
Emile Faurie Foundation
Garfield Weston Foundation
Groundwork - Tesco
Hadrian Trust
Hospital of God Greatham
NCC Byker Ward
NE Youth
R W Gibson Trust
Sir James Knott Trust
Street Games UK
British Equestrian Federation
British Horse Society
The Joicey Trust
The Rothley Trust
The Schofield Trust
Souter Charitable Trust
TOTAL FUNDS		 Incoming
resources
£
415,241
-
18,456
6,289
10,400
2,500
-
1,000
8,537
960
13,000
3,942
500
20,000
500
1,000
1,000
2,238
1,200
3,000
9,350
18,344
8,537
3,000
2,100
900
685
-
137,438
552,679		 Resources
Movement
expended
in funds
£
£
(348,482)
66,759
(58)
(58)
-
18,456
(6,289)
-
(7,553)
2,847
(2,500)
-
(1,000)
(1,000)
(1,000)
-
(8,537)
-
(960)
-
-
13,000
(3,942)
-
(500)
-
(20,000)
-
(500)
-
(1,000)
-
(1,000)
-
(2,238)
-
(1,200)
-
(3,000)
-
(9,350)
-
(18,344)
-
(8,537)
-
(3,000)
-
(2,100)
-
(900)
-
(685)
-
(1,200)
(1,200)
(105,393)
32,045
(453,875)
98,804

continued...

Page 22

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Graham Wylie Foundation
TOTAL FUNDS		 At 1/4/21
£
79,363
9,416
103,037		 Net
movement
in funds
£
(18)
(9,416)
19,764		 Transfers
between
funds
£
43,456
-
-		 At
31/3/23
£
122,801
-
122,801

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Graham Wylie Foundation
Awards for All
Edward Gostling Foundation
Emile Faurie Foundation
Street Games UK
British Equestrian Federation
British Horse Society
The Joicey Trust
The 1989 Willan Charitable Trust
Elsie Davis Trust
Donation towards salary costs
Newcastle Fund
Northumbria Police and Crime
Commissioner
Percy Hedley 1990 Charitable Trust
Roy and Pixi Trust
The Sylvia Waddilove Foundation
The Barbour Foundation
TOTAL FUNDS		 Incoming
resources
£
776,238
10,400
10,997
5,608
1,500
18,644
9,457
3,200
4,100
4,161
5,000
7,500
20,453
324
500
1,000
375
4,000
107,219
965,535		 Resources
Movement
expended
in funds
£
£
(776,256)
(18)
(19,816)
(9,416)
(10,997)
-
(5,608)
-
(1,500)
-
(18,644)
-
(9,457)
-
(3,200)
-
(4,100)
-
(4,161)
-
(5,000)
-
(7,500)
-
(20,453)
-
(324)
-
(500)
-
(1,000)
-
(375)
-
(4,000)
-
(116,635)
(9,416)
(945,771)
19,764

continued...

Page 23

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - continued

Restricted funds

Graham Wylie Foundation

A grant for youth work salaries and activities.

Newcastle Fund

The Newcastle Fund are funding a project 'Trotting Around the Toon' to help children and young people come out of lockdown and transition into society. Additional funding was provided by The Joicey Trust.

Northumbria Police and Crime Commission

The NPCC are supporting a project to reduce the harm caused by crime and anti-social behaviour in communities.

Street Games UK

This grant is funding the 'Holiday Activity and Food Programme' for 2023.

Emile Faurie Foundation

This funding is to deliver a mentoring scheme.

Working with children and young people

Several funders contributed to work with children and young people, 1989 Willan Charitable Trust, Awards For All, Edward Gostling Foundation, Elsie Davis Trust, Roy and Pixi Trust, and the British Horse Society.

The Equestrian and Activities Club

Several funders contributed to the running costs of the club, The British Equestrian Federation, Percy Hedley 1990 Charitable Trust, Sylvia Waddilove Foundation and The Barbour Foundation.

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

23. ULTIMATE CONTROLLING PARTY

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 24

STEPNEY BANK STABLES LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Gift shop income
Café charges
Hoodies, polo and sweatshirts
Product sales income
Investment income
Bank interest received
Charitable activities
Alternative provision
Group bookings
Schools
Equestrian income
Grants
Apprentice grants
Other income
Gain on sale of tangible fixed assets
Other income
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Gift shop expenses		 2023
£
18,980
1,274
20,254
392
2,043
651
-
3,086
-
22,428
-
-
299,538
61,359
4,963
388,288
1,228
-
1,228
412,856
749
1,557
2,306		 2022
£
1,808
-
1,808
1,116
6,859
2,998
576
11,549
142
22,157
18,969
18,550
316,160
160,840
-
536,676
-
2,504
2,504
552,679
-
3,464
3,464

This page does not form part of the statutory financial statements

Page 25

STEPNEY BANK STABLES LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Other trading activities
Charitable activities
Wages
Social security
Pensions
Payroll expenses
Admin and management costs
Subcontractors
Horse costs
Volunteer expenses
Room hire
Rosettes, certificates and exams
Youth activities, trips and workshops
Youth riding lessons
Youth accreditation
Support costs
Management
Rent
Insurance
Light and heat
Telephone
Printing, post and stationery
Consultancy fees
Vehicle costs
Cleaning and sundries
Repairs and maintenance
Equipment
Pest control
Water
Computer costs
Professional fees
Staff welfare
Recruitment costs
Staff training
Staff travel
Bank charges
Fundraising costs
Amort of website development
Depn of equipment
Fixtures and fittings
Depn of horses
Carried forward		 2023
£
232,019
8,420
2,695
-
18,298
21,698
53,678
900
-
2,262
2,412
-
515
342,897
8,803
15,313
14,259
5,722
3,674
2,531
5,481
6,256
8,084
29
1,163
2,670
1,822
5,402
2,047
467
2,032
867
4,899
25,290
4,462
9,780
660
3,104
134,817		 2022
£
224,780
8,800
2,708
109
1,903
25,483
51,032
1,630
800
1,567
5,018
2,200
-
326,030
7,450
14,245
17,532
6,044
4,095
1,808
9,083
4,841
14,042
1,329
77
2,478
1,724
6,549
1,103
130
6,029
467
6,885
6,611
1,275
5,600
-
2,752
122,149

This page does not form part of the statutory financial statements

Page 26

STEPNEY BANK STABLES LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Management
Brought forward
Computer equipment
Loss on sale of tangible fixed assets
Governance costs
Accountancy and bookkeeping services
Total resources expended
Net (expenditure)/income		 2023
£
134,817
1,724
-
136,541
10,152
491,896
(79,040)		 2022
£
122,149
-
234
122,383
1,998
453,875
98,804

This page does not form part of the statutory financial statements

Page 27