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← Stepney Bank Stables Ltd

2025-03-31-accounts

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

STEPNEY BANK STABLES LTD

STEPNEY BANK STABLES LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6 to 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Financial Statements 12 to 30

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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 2025. 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) is on a mission 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 who are experiencing challenges relating to poverty, neurodiversity, mental health issues. 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 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. Young people have access a variety of programmes, accredited training and workshops provided by our team and external partners to further enhance and enrich their lives.

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 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 2025

ACHIEVEMENTS AND PERFORMANCE Charitable activities

In 2024-25 Stepney Bank Stables continued to support young people from all areas in and around the city of Newcastle and beyond. We extended our Alternative Provision offer to include more young people who are disengaged from mainstream education with 26 young people participating in the Changing Lives Through Horses program. We provided opportunities on 363 days in the year for 125 young volunteers to contribute their time outside of school hours to care for our horses and assist with the running of the stables. Young people also had the opportunity to participate in Stepney Western, a film and archive photography project. They participated in front of and behind the camera to create an exhibition which was shown at Newcastle Contemporary Art during March and April 2025 and at Berwick Film Festival, where a group of young people took part in a live Q and A. They also took part in a variety of trips and activities including a residential at High Borrans, Bramham and Burgham Horse Trials, 3 trips to Beamish Museum, visits to Kirkley Hall College, participating in first aid training and competing in in-house competitions and BHS qualifiers with 3 riders qualifying for the BHS Riding School National Championships. Young people also took part in an Eco Influencers project with Northumberland Wildlife Trust which helped them understand the local ecosystem better and play a role in protecting it.

We've worked closely with local schools, particularly local primary schools, to enable more young people, particularly those living closest to the stables, to experience interactions with horses. The local specialist senior schools who are supporting young people with Special Educational Needs have also accessed our services regularly and observed significant positive benefits. "Being around the horses at Stepney supports our students with improving their focus, supporting them to manage their emotional regulation and helps to develop their empathy. Our students have been able to develop positive communication skills and encouraged each other to work as part of a team which is an area that our students struggle with."

During school holidays we provided 90 spaces on our Holiday Activity Fund Provision. This free provision enabled many children who are eligible for free school meals to access the stables for the first time. "Thank you for all that you do for our granddaughter. She is learning so much and her love of horses is fantastic. She needed something to help her get through a tough start in life and she's found it with you's."

We became a BHS Everyone's Welcome Pilot Centre. Through this initiative we now have two Coaching 4 All certified coaches and are delivering the Coaching 4 All training to more coaches in house. The Coaching 4 All qualification ensures that we are coaching in an inclusive way to best support the wide range of people who train with us. This initiative supports our ambition to be a centre of excellence for inclusivity. "I just wanted to drop a note to say thank you very much indeed for hosting our riding event last week for Tyneside Deaf Children's Society. Everyone had a brilliant time and it was another great success."

Statistics:

Page 2

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Financial position

Income of £529,835 (2024 - £531,091) was generated in the year, of which £171,254 (2024 - £154,785) related to restricted funds. An operating surplus of £29,133 (2024 Deficit £14,379) was generated for this financial year, of which £Nil (2024 - £Nil) related to restricted funds.

The 2024-25 financial year saw donations rise slightly from prior year, as the Crowdfunder appeal impact was felt, and grant income increase from 2024 (£143,435 to £172,554). Equestrian income fell (£304,711 to £274,103) and overall expenditure decreased (£545,470 to £500,702) reflecting a review of operations resulting in reduced staff costs, a reduction in the number of horses retained and less riding lessons being offered. Thus, a profit for the year of £29, 133 was recorded compared to the previous year loss of £14,379.

An aggregate amount of £43,721 of grant income received has been deferred as a liability at 31 March 2025 and will be recognised as income when the relevant conditions are met.

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 2025 can be considered to be £125,000.

At 31 March 2025, SBS held unrestricted reserves of £137,555. Of that amount, £86,682 related to fixed assets and hence was not readily available to fulfil the reserve policy objectives set out above. These amounts should therefore be deducted from the unrestricted reserves figure. Conversely, £43,721 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 2025 is approximately £95,000.

The Trustees acknowledge that this reserve level was below the target level and will endeavour to address this shortfall in the next financial year.

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.

Page 3

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

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

Page 4

STEPNEY BANK STABLES LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Dr R A M Abdelbadie Mr G Fletcher Ms A A Beckham Mr L Turnball Ms S Steel-Hoath Ms J Robason Mr T J Lewin Miss Z S Bell Mrs J Murphy Mrs J Routledge

resigned 22 September 2025 resigned 25 August 2025

Centre manager Sara Newson

Independent Examiner

BK Plus Limited Chartered Certified Accountants 13 Windsor Terrace Jesmond Newcastle upon Tyne NE2 4HE

Bankers

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

Approved by order of the board of trustees on 4 November 2025 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 2025.

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.

Page 6

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

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 The Institute of Chartered Accountants in England and Wales

BK Plus Limited Chartered Certified Accountants 13 Windsor Terrace Jesmond Newcastle upon Tyne NE2 4HE

11 November 2025

Page 7

STEPNEY BANK STABLES LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
65,924
Charitable activities
4
Contracts
274,103
Grant income
17,050
Other trading activities
3
1,504
Other income
-
Total
358,581
EXPENDITURE ON
Raising funds
5
3,480
Charitable activities
6
Staff costs
182,665
Subcontract costs
300
Horse costs
46,583
Youth work and other costs
(2,057)
Employee costs
4,338
Motor and travel costs
1,322
Premises costs
47,041
General administrative costs
17,850
Legal and professional costs
11,936
Fundraising costs
15,990
Total
329,448
NET INCOME/(EXPENDITURE)
29,133
RECONCILIATION OF FUNDS
Total funds brought forward
108,422
TOTAL FUNDS CARRIED FORWARD
137,555		 Restricted
funds
£
15,750
-
155,504
-
-
171,254
178
105,936
9,995
16,608
18,511
2,009
3,993
11,546
203
2,275
-
171,254
-
-
-		 2025
Total
funds
£
81,674
274,103
172,554
1,504
-
529,835
3,658
288,601
10,295
63,191
16,454
6,347
5,315
58,587
18,053
14,211
15,990
500,702
29,133
108,422
137,555		 2024
Total
funds
£
78,393
304,711
143,435
1,157
3,395
531,091
1,422
310,937
17,190
64,300
7,119
6,458
3,844
69,977
24,744
17,329
22,150
545,470
(14,379)
122,801
108,422

The notes form part of these financial statements

Page 8

STEPNEY BANK STABLES LTD

BALANCE SHEET 31 MARCH 2025

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
20
Unrestricted funds
TOTAL FUNDS		 2025
£
86,682
185
18,093
87,782
106,060
(55,187)
50,873
137,555
137,555
137,555
137,555		 2024
£
61,887
342
25,252
69,790
95,384
(48,849)
46,535
108,422
108,422
108,422
108,422

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 9

STEPNEY BANK STABLES LTD

BALANCE SHEET - continued 31 MARCH 2025

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 4 November 2025 and were signed on its behalf by:

Mr. G Fletcher - Trustee

The notes form part of these financial statements

Page 10

STEPNEY BANK STABLES LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
23
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
59,199
59,199
(48,507)
7,300
(41,207)
17,992
69,790
87,782		 2024
£
(39,168)
(39,168)
(47,549)
37,350
(10,199)
(49,367)
119,157
69,790

The notes form part of these financial statements

Page 11

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

Property improvements - 50% on cost Motor vehicles - at varying rates on cost Equipment - 10% on cost Fixtures and fittings - 10% on cost Horses - Straight line over 15 years Computer equipment - 20% on cost

continued...

Page 12

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

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.

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.

Financial instruments

All financial assets and financial liabilities of the charity qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Gift aid		 2025
£
76,448
5,226
81,674		 2024
£
61,295
17,098
78,393

continued...

Page 13

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

3.
OTHER TRADING ACTIVITIES
Gift shop income
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Alternative provision
Contracts
Group bookings
Contracts
Equestrian income
Contracts
Arena and room hire
Contracts
Grants
Grant income
Grants received, included in the above, are as follows:
Arnold Clark Foundation
Awards for All
Edward Gostling Foundation
Emile Faurie Foundation
Hadrian Trust
Hospital of God Greatham
Joseph Strong Frazer Trust
NCC Byker Ward
Sir James Knott Trust
Street Games UK
The British Equestrian Federation
The British Horse Society
The Joicey Trust
The Rothley Trust
Finn Family Fund
Loriners Trust
1989 Willan Charitable Trust
Elsie Davis Trust
Northumbria Police and Crime Commission
Roy and Pixi Baker Charitable Trust
Sylvia Waddilove Foundation
The Barbour Foundation
Community Foundation Tyne and Wear
Carried forward		 2025
£
1,504
2025
£
60,846
8,190
193,192
11,875
172,554
446,657
2025
£
750
-
-
1,500
1,000
-
-
1,317
-
7,800
-
1,300
1,500
800
1,000
1,000
-
5,000
-
2,000
-
6,157
14,877
46,001		 2024
£
1,157
2024
£
49,138
7,380
244,123
4,070
143,435
448,146
2024
£
-
7,381
8,334
1,500
500
1,000
2,500
-
10,000
5,880
6,102
-
-
900
-
1,250
5,827
-
3,563
-
1,125
-
12,137
67,999

continued...

Page 14

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

4. INCOME FROM CHARITABLE ACTIVITIES - continued

INCOME FROM CHARITABLE ACTIVITIES - continued
Brought forward
Daisy Marr Fund
Department for Digital, Culture, Media and Sport
Greggs Foundation
LGA Foundation
Prince of Wales Charitable Trust
The Ringtons Fund
St Nicholas Education Trust
The Hargreaves Foundation
The Michael and Shirley Hunt Trust
The National Lottery Community Fund
Apartment Group Newton Hall
Key Fund Federation
Chas Com Ltd
CAF-Bentley Advancing Life Chances
The Beryl Evetts and Robert Luff Animal Welfare Trust Ltd
The Eva Reckitt Trust
Happy Days Childrens Fund
The Henry Smith Foundation
The Linden Family Fund
Northumberland Estates
The Morrisons Foundation		 2025
£
46,001
1,171
-
-
5,000
-
2,233
5,000
5,733
-
64,173
23,798
-
700
500
3,500
500
400
2,250
1,774
5,500
4,321
172,554		 2024
£
67,999
3,511
9,958
2,000
5,000
2,800
2,233
5,000
8,656
1,000
11,230
23,798
250
-
-
-
-
-
-
-
-
-
143,435

Page 15

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

5. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
2025 2024
£ £
Loss on sale of assets 1,734 -
Other trading activities
2025 2024
£ £
Purchases 531 1,157
Gift shop expenses 1,393 265
1,924 1,422
Aggregate amounts 3,658 1,422
6. CHARITABLE ACTIVITIES COSTS
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 7)
£
288,601
10,295
63,191
16,454
-
-
-
-
-
-
378,541		 Support
costs (see
note 8)
£
-
-
-
-
6,347
5,315
58,587
18,053
14,211
15,990
118,503		 Totals
£
288,601
10,295
63,191
16,454
6,347
5,315
58,587
18,053
14,211
15,990
497,044

Page 16

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Subcontractors
Horse costs
Volunteer and youth expenses		 2025
£
288,601
10,295
63,191
16,454
378,541		 2024
£
310,937
17,190
64,300
7,119
399,546

8. SUPPORT COSTS

Governance
Management
costs
£
£
Employee costs
6,347
-
Motor and travel costs
5,315
-
Premises costs
58,587
-
General administrative costs
18,053
-
Legal and professional costs
6,351
7,860
Fundraising costs
15,990
-
110,643
7,860		 Totals
£
6,347
5,315
58,587
18,053
14,211
15,990
118,503

9. NET INCOME/(EXPENDITURE)

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

Accountancy fees
Bookkeeping services
Depreciation - owned assets
(Deficit)/surplus on disposal of fixed assets		 2025
£
1,500
6,360
14,678
1,734		 2024
£
1,458
6,360
16,918
(2,845)

continued...

Page 17

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2025
£
275,317
9,432
3,852
288,601		 2024
£
292,600
14,061
4,276
310,937

The charity's key management personnel comprise the Trustees and the Centre Manager. The total employee benefits of the key management personnel were £46,387 (2024 - £44,110).

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

Centre manager
Administration
Equestrian
Youth		 2025
1
1
5
3
10		 2024
1
1
6
3
11

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

continued...

Page 18

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
50,643
27,750
Charitable activities
Contracts
304,711
-
Grant income
16,400
127,035
Other trading activities
1,157
-
Other income
3,395
-
Total
376,306
154,785
EXPENDITURE ON
Raising funds
1,354
68
Charitable activities
Staff costs
196,239
114,698
Subcontract costs
7,456
9,734
Horse costs
55,841
8,459
Youth work and other costs
767
6,352
Employee costs
4,974
1,484
Motor and travel costs
(1,127)
4,971
Premises costs
65,884
4,093
General administrative costs
22,352
2,392
Legal and professional costs
14,795
2,534
Fundraising costs
22,150
-
Total
390,685
154,785
NET INCOME/(EXPENDITURE)
(14,379)
-
RECONCILIATION OF FUNDS
Total funds brought forward
122,801
-
TOTAL FUNDS CARRIED FORWARD
108,422
-		 Total
funds
£
78,393
304,711
143,435
1,157
3,395
531,091
1,422
310,937
17,190
64,300
7,119
6,458
3,844
69,977
24,744
17,329
22,150
545,470
(14,379)
122,801
108,422

continued...

Page 19

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. INTANGIBLE FIXED ASSETS

COST
At 1 April 2024 and 31 March 2025
AMORTISATION
At 1 April 2024 and 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
14.
TANGIBLE FIXED ASSETS
Property
improvements
£
COST
At 1 April 2024
17,526
Additions
7,404
Disposals
-
At 31 March 2025
24,930
DEPRECIATION
At 1 April 2024
14,110
Charge for year
3,725
Eliminated on disposal
-
At 31 March 2025
17,835
NET BOOK VALUE
At 31 March 2025
7,095
At 31 March 2024
3,416		 Website
development
£
19,121
19,121
-
-
Motor
vehicles
Equipment
£
£
18,299
23,699
12,490
10,063
(5,950)
-
24,839
33,762
2,403
23,079
5,056
786
(1,583)
-
5,876
23,865
18,963
9,897
15,896
620

continued...

Page 20

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings Horses equipment Totals
£ £ £ £
COST
At 1 April 2024 50,965 36,750 8,624 155,863
Additions 1,950 16,000 600 48,507
Disposals - (5,400) (1,488) (12,838)
At 31 March 2025 52,915 47,350 7,736 191,532
DEPRECIATION
At 1 April 2024 45,726 5,218 3,440 93,976
Charge for year 676 2,794 1,641 14,678
Eliminated on disposal - (1,448) (773) (3,804)
At 31 March 2025 46,402 6,564 4,308 104,850
NET BOOK VALUE
At 31 March 2025 6,513 40,786 3,428 86,682
At 31 March 2024 5,239 31,532 5,184 61,887
15. STOCKS
2025 2024
£ £
Finished goods 185 342
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 8,801 22,396
Prepayments and accrued income 9,292 2,856
18,093 25,252

continued...

Page 21

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accrued expenses
Deferred income		 2025
£
8,824
-
2,642
43,721
55,187		 2024
£
8,020
841
1,839
38,149
48,849

Deferred Income

Included within Creditors are the following amounts comprising income received in advance of delivery of the related services or expenditure incurred.

Balance at 1 April 2024
Released to income from charitable activities
Amount deferred in year
Balance at 31 March 2025		 £
38,149
(28,089)
33,661
43,721

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2025
£
7,341
7,341
14,682		 2024
£
5,000
10,000
15,000

This is a 20 year operating lease running until 2027.

continued...

Page 22

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
fund
£
Fixed assets
86,682
Current assets
62,339
Current liabilities
(11,466)
137,555
20.
MOVEMENT IN FUNDS		 Restricted
funds
£
-
43,721
(43,721)
-		 2025
Total
funds
£
86,682
106,060
(55,187)
137,555		 2024
Total
funds
£
61,887
95,384
(48,849)
108,422
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS		 At 1/4/24
£
108,422
108,422		 Net
movement
in funds
£
29,133
29,133		 At
31/3/25
£
137,555
137,555

continued...

Page 23

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Hadrian Trust
NCC Byker Ward
Street Games UK
The Joicey Trust
Donation towards salary costs
The Barbour Foundation
Community Foundation Tyne and Wear
- Port of Tyne
Community Foundation Tyne and Wear
- Arts and Culture Fund
Daisy Marr Fund
LGA Foundation
The Ringtons Fund
St Nicholas Education Trust
The Hargreaves Foundation
The National Lottery Community Fund
Apartment Group Newton Hall
The Eva Reckitt Trust
Happy Days Children Fund
Henry Smith Foundation
The Linden Family Fund
The Loriners Fund
Northumberland Estates
The Morrisons Foundation
National Lottery Community Fund -
Pony Pals
Community Foundation - Tyne & Wear
High Sheriffs Award
TOTAL FUNDS		 Incoming
resources
£
358,581
1,000
1,317
7,800
1,500
15,750
6,157
2,032
11,845
1,171
5,000
2,233
5,000
5,733
57,770
23,798
500
400
2,250
1,774
1,000
5,500
4,321
6,403
1,000
171,254
529,835		 Resources
Movement
expended
in funds
£
£
(329,448)
29,133
(1,000)
-
(1,317)
-
(7,800)
-
(1,500)
-
(15,750)
-
(6,157)
-
(2,032)
-
(11,845)
-
(1,171)
-
(5,000)
-
(2,233)
-
(5,000)
-
(5,733)
-
(57,770)
-
(23,798)
-
(500)
-
(400)
-
(2,250)
-
(1,774)
-
(1,000)
-
(5,500)
-
(4,321)
-
(6,403)
-
(1,000)
-
(171,254)
-
(500,702)
29,133

continued...

Page 24

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/4/23
£
122,801
122,801		 Net
movement
in funds
£
(14,379)
(14,379)		 At
31/3/24
£
108,422
108,422

Page 25

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Awards for All
Edward Gostling Foundation
Hadrian Trust
Hospital of God Greatham
Street Games UK
British Equestrian Federation
The 1989 Willan Charitable Trust
Donation towards salary costs
Northumbria Police and Crime
Commissioner
The Sylvia Waddilove Foundation
Community Foundation Tyne and Wear
- Port of Tyne
Community Foundation Tyne and Wear
- Arts and Culture Fund
Daisy Marr Fund
Department for Digital, Culture, Media
and Sport
Greggs Foundation
LGA Foundation
Prince of Wales Charitable Foundation
The Ringtons Fund
St Nicholas Education Trust
The Hargreaves Foundation
The Michael and Shirley Hunt Trust
The National Lottery Community Fund
Apartment Group Newton Hall
TOTAL FUNDS		 Incoming
resources
£
376,306
7,381
8,334
500
1,000
5,880
6,102
5,827
27,750
3,563
1,125
712
11,425
3,511
9,958
2,000
5,000
2,800
2,233
5,000
8,656
1,000
11,230
23,798
154,785
531,091		 Resources
Movement
expended
in funds
£
£
(390,685)
(14,379)
(7,381)
-
(8,334)
-
(500)
-
(1,000)
-
(5,880)
-
(6,102)
-
(5,827)
-
(27,750)
-
(3,563)
-
(1,125)
-
(712)
-
(11,425)
-
(3,511)
-
(9,958)
-
(2,000)
-
(5,000)
-
(2,800)
-
(2,233)
-
(5,000)
-
(8,656)
-
(1,000)
-
(11,230)
-
(23,798)
-
(154,785)
-
(545,470)
(14,379)

Page 26

continued...

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/4/23
£
122,801
122,801		 Net
movement
in funds
£
14,754
14,754		 At
31/3/25
£
137,555
137,555

continued...

Page 27

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

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

Incoming
resources
£
Unrestricted funds
General fund
734,887
Restricted funds
Hadrian Trust
1,500
NCC Byker Ward
1,317
Street Games UK
13,680
The Joicey Trust
1,500
Donation towards salary costs
43,500
The Barbour Foundation
6,157
Community Foundation Tyne and Wear
- Port of Tyne
2,744
Community Foundation Tyne and Wear
- Arts and Culture Fund
23,270
Daisy Marr Fund
4,682
LGA Foundation
10,000
The Ringtons Fund
4,466
St Nicholas Education Trust
10,000
The Hargreaves Foundation
14,389
The National Lottery Community Fund
69,000
Apartment Group Newton Hall
47,596
The Eva Reckitt Trust
500
Happy Days Children Fund
400
Henry Smith Foundation
2,250
The Linden Family Fund
1,774
The Loriners Fund
1,000
Northumberland Estates
5,500
The Morrisons Foundation
4,321
National Lottery Community Fund -
Pony Pals
6,403
Community Foundation - Tyne & Wear
High Sheriffs Award
1,000
276,949
TOTAL FUNDS
1,060,926
(1		 Resources
Movement
expended
in funds
£
£
(720,133)
14,754
(1,500)
-
(1,317)
-
(13,680)
-
(1,500)
-
(43,500)
-
(6,157)
-
(2,744)
-
(23,270)
-
(4,682)
-
(10,000)
-
(4,466)
-
(10,000)
-
(14,389)
-
(69,000)
-
(47,596)
-
(500)
-
(400)
-
(2,250)
-
(1,774)
-
(1,000)
-
(5,500)
-
(4,321)
-
(6,403)
-
(1,000)
-
(276,949)
-
,046,172)
14,754

continued...

Page 28

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

20. MOVEMENT IN FUNDS - continued

Restricted funds

Animal Welfare Trust

Costs to do with keeping horses well - vet bills, remedial shoeing etc.

CFTW Port of Tyne

Access to Pony Club membership, club sessions and tests for children living in low income households.

CFTW Arts Culture (Stepney Western)

Work with young people to shape ideas for Stepney Western - a participatory arts project.

Elise Davis

Support for disadvantaged young people to develop their skills.

Henry Smith

Trip to Beamish museum

LGA Foundation

Support for neurodiverse children and young people to attend as volunteers

St Nicholas Learning Trust

Support for neurodiverse young people to access accreditation

Street Games

Holiday provision for young people eligible for free school meals

The Barbour Foundation

support for neurodiverse young people to volunteer

The Hargreaves Foundation

Funding to enable young people who accessed holiday provision to continue in volunteer roles.

The Morrisons Foundation

Capital funding to create a safe, sensory space

The National Lottery Community Fund (Pony Pals)

A program of community open days

The National Lottery Community Fund Reaching Communities/Partnerships

Outreach and volunteer activities for young people, especially those who are at risk of involvement in anti-social behaviour.

continued...

Page 29

STEPNEY BANK STABLES LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

22. ULTIMATE CONTROLLING PARTY

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

23. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss/(profit) on disposal of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations		 2025
£
29,133
14,678
1,734
157
7,159
6,338
59,199		 2024
£
(14,379)
16,918
(2,845)
(236)
(17,923)
(20,703)
(39,168)

24. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24 Cash flow At 31/3/25
£ £ £
Net cash
Cash at bank and in hand 69,790 17,992 87,782
69,790 17,992 87,782
Total 69,790 17,992 87,782

Page 30