Company Reglstratlon No. 04062415 (England and Wales) Charity No.. 1085211 Horses and Ponies Protection Association Report of the Trustees and Financial Statements for the Year ended 31 August 2022 (fy mha MOORE & SMALLEY
HORSES AND PONIES PROTECTION ASSOCIATION CONTENTS Page Reference and Administrative Details Report of the Trustees statement of Trustees Responsibilties 11 Report of the Independent Auditors 12 Stslement of Financial Activities 15 Balance Sheet 16 Statement of cashflows 17 Notes to the Financial Statements 18
HORSES AND PONIES PROTECTION ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees J Byrnes (Chairl J M Farley FCA A Gill P A Warren M Lonergan Company Secretary S Arthur Chigf Exgcutive Officer S Arthur Registered Office Taylor Building, Shores Hey Fam) Blackhouse Lane, off Halifax Road Briercliffe Burnley Lancashire BB10 3QU Registered Company Number 04062415 (England and Wales) Registgrgd Charity Number 1085211 Auditor MHA Moore and Smalley LLP Chartered Accounlanls Richard House Winckley Square Preston PR1 3HP Bankers Yorkshire Bank 14 Broadway Bradford Wesl Yorkshire BD1 1EZ National Westminster Bank 2 Howe Walk Burnley Lancashire BB11 1QD Investment Advisor Investec Wealth & Investment Limited 3 Wellington Place Leeds LS14AP Brewin Dolphin Ltd 10 Wellinglon Place Leeds LS14AN
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 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 August 2022 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective October 20191. The full name of the charity is Horses and Ponies Protection Association and is known more generally as HAPPA. STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees are pleased to present their annual report, they recognise that this financial year is the first complete year of the Charities sile remaining open without governmenl-imposed closures. As a SUIt, in the year ending 31 August 2022, income from the visitors, centre, fundraising and other events have significantly increased. A reduced legacy income has resulted in a deficit for the year. At the date of approving these accounts the Trustees have a reasonable expectation that the Charity will be able to manage the situation and il has sufficient cash resources to enable it lo meet its liabilities, as they are due, for al least 12 months from the date of approval. Thus, the Trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. Governing document The Charity is a Limited Company, registration no. 4062415, is governed by ils Memorandum and Articles of Association revised 4th December 2012 and is registered with the Charity Commission, no. 1085211. Rocruitment and appointment of trustees All Trustees are appointed in accordance with article 7 of the Company's Articles of Association. The Trustees are aware of the necessity to maintain and improve the level of competence in the equine, commercial and professional areas. The Trustees are also aware of the need to recruit members lo ensure continuity of services into the future. The application and recruitment process has seen updates in Iileralure regarding the posts and a thorough selection proTrss put in place, ensuring that applicants with the appropriate specialist skill sets and personal interests are appointed as Trustees. A recruitment drive has resulted in four additional trustees completing the onboarding process, all will be up for 9PtIon as per the articles of association al the Annual General Meeting, May 2023. Training and induction of trustees All Trustees complete an induction process that includes elements on governance and the role of a trustee within the Organisation. Toining of Trustees is usually informal as the majority are long standing or have been appointed for their specialist business or equine knowledge. Management responsibilities HAPPA'S Board of Trustees convene every three to four months to monitor the affairs of the Organisation and to set policy and agree expenditure. Board meetings are currently held at the Centre with social distancing and hygiene measures. The Annual General Meeting is held in May. The Board seek advice on matters such as finance, insurance, health and safely, human resources, marketing etc to ensure best practi is always followed. Decision making is made at Board level or delegated, by agreement, to the Chief Officer. Financial expenditure is decided al Board level although expenditure lo an agreed level can be authorised by the Chief Officer. Operational Management is largely the responsibility of the Chief Officer who works with the senior management team lo ensure the Organisation's day-lo-day affairs are managed effectively.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 Risks The Board have identified three main areas of risk that the Organisation is exposed lo. These are". The availability of finance lo allow the operations to continue. Damage to HAPPA'S reputation. Health and safety of staff and volunteers. Risk management HAPPA'S risk management strategy.. Ensures that risk management is a prime consideration within the Organisalion's culture and its approach to operational aclivilies., ensures that potential risks are identified al the planning stage and a raft of options are agreed as lo how best lo identify and manage potential risks,. ensures that internal controls are in place lo effectively manage risks as they arise,. ensures that professional advice is sought and insurance or other arrangements put in place to manage the impact of unavoidable risks. ABOUT HAPPA Founded in 1937 to help fight against the Iransportalion of large horses lo the continent for slaughter, HAPPA continues to play a major role In all aspects of equine welfare. Instrumental in achieving better protection for horses with the Riding Eslablishmenls Act, The Ponies Act 1969, The Illegal Tethering Act 1991 and by selling up the National Equine Welfare Committee 1997, HAPPA continues lo campaign for improvements lo existing legislation lo ensure that horses, ponies and donkeys are protected from cruelty and neglect. Charitable objectives As defined in the governing document, to prevent unnecessary suffering to horses and neglect of their bodily needs by assisting in the enforcement of laws regarding humane treatrnenl and encouraging and promoting education in the humane Irealmenl of horses. The HAPPA Strategy 2021-2026 outlines changes to the mission statement, values, and main beliefs. Our vision is every equine in our care deserves a second chance in a forever home. Mission is to strive to give a second chance lo neglected, abused and unwanted equines through rescue, rehabilitation, rehoming, and education. Adjustments have been made to match our hopes for every equine that comes into the Charity's care. The mission is the reason we develop other areas of operations to increase charitable income, enabling financial self- sufficiency and longevity. Education remains a focus due to the importance of every person caring for an equine possessing the necessary knowledge to meet its welfare needs. Public benefit The Trustees have followed the Charity Commissions guidance on Public Benefit in carrying out their activities, through rescue, rehabilitation, rehoming, and education, as set out below. The activities of the Charity are available lo all, irrespective of affordability through visiting, memberships., annual memberships are currently fixed al £20 with reductions for senior members. Supporters are encouraged lo become a Second Chance Sponsor and support the rehabilitation of a chosen equine. A minimum donation is payable for access lo see the resident horses, a donation is not payable for members and sponsors. Rescue HAPPA'S Equine Inspectors investigate over 300 cases of cruelty and neglect each year, offering advice and support where possible and preventing cruetty by Intervention and prosecution where necessary. They have a wide range of expertise on all aspects of equine welfare and are fully conversant with the laws relating lo the application and implementation of equine legislation within the Animal Welfare Act 2006,. Animals Act 1971,. Horse Passport Regulations 2009,. Control of Horses Act 2015.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 Rehabilitation HAPPA has a fully equipped Rescue Centre to ensure that all rescued and abandoned animals are restored lovingly back to health. Our Centre, based in Lancashire has stabling for approximately 50 equines at any one time with a strong emphasis on rehabilitation and rehoming. We treat each animal as an individual and lake great care to provide the right environment and care programme for them all. Our Centre team and facilities has been expanded to deliver more consistent equine care and to offer greater opportunities to all animals al Shores Hey Farm, further developments have seen the refurbishment of existing out buildings into a new Equine Assessment Unil enabling the separation of equines returning from loan homes from rescued equines susceptible lo zoonotic and contagious diseases housed in the Isolation Unil. This facility enables a timely turnaround of low risk HAPPA horses. Through careful analysis of equine care resources, lime, and workload the number of equines accommodated al Shores Hey Farm is now maintained lo beeen 40 and 45, this has enabled the care team to concentrate solely on the rehabililalion of fewer allocated equines. As a result, significant improvements are seen in the ability to rescue and rehome equines. Rehoming All suitable equines are placed,. in private homes through our legally binding loan scheme or those with specialist needs at the HAPPA Rescue Centre. Throughput numbers have decreased this year by 28°, reports of cruelty and neglect from members of the public have increased by 23,10 In comparison to the previous year. Equine rehabilitation efficiency remains proficient. The average equine stay in centre timeframe has Increased in comparison lo previous years, this is a concern due lo increases in living costs people may be less likely to commit to the financial outlay of rehoming a horse from a rescue cenlre. The new Projert Horse Scheme allows equines al retraining stage lo find homes with compelenl equestrians. Advice and education The equine action team are always available lo offer advice and guidance on all aspects of equine welfare. An online horse care course has been launched, and the educalionsl sessions are now held onsite throughout the year. The Charity provides a range of free information sheets covering 8 range of equine related topics. An exciting new online junior member's club will be launched in 2022 to further expand our educational reach. Online digital platforms and social media content has been tailored to offer advice and educate followers, further development of the Charity's online presence has resulted in an increase of brand awareness, followers, supporter demographic and customer engageMenL
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS The Charity aims to prevent suffering, cruelty and neglect of equines through rescue, rehabilitation, rehoming and education11 aims to achieve ils objectives by.- Maintaining financial security HAPPA is committed to maintaining financial security, the Charity has invested in the development of the onsite shop, educational aclivilies, and digital technology. Continuing to invest in marketing of legacies throughout. All will ensure the Charity's survival in unprecedented limes. The conference suites have now been ulilised for the expansion of the onsite shop. Within this space income is generated through sale of new and used equestrian items and farm themed gifts and toys. The shop is directly related lo the charities core objectives by selling items that enhance the lives of equines. The shop is also a source of discounted, second hand, equestrian products for members of the public lo purchase that are struggling financially. Online auctions are generating extra income and an associated ecommerce site is meeting the demands of a trend in safe online shopping. The onsite café re-opened in June 2021, alongside reopening a new menu launched with the visiting customer in mind. Feedback and sales have been promising with further developments to Include evening opening and seasonal events seen In 2022. By improving income generation through the development of a robust and current donor database, investment in legacy marketing initiatives and the development and delivery of comprehensive digital customer engagement and fundraising strategy the Charity hopes to maintain income at a sustainable level. Greater use of digital and technology, particularly social media will ensure that the brand is promoted to the widest audience possible, and that awareness and new income is generated. Legacy Marketing - Our legacy leaflets and legacy booklets are kept under review and distributed to solicitors and other interested supporters. The legacy page on the website is gUlartY reviewed and updated. Active on-going reviews of all administffttion relating lo legacy management will create return. Donations - Donors can make a secure online donation before visiting the stables and are invited to contribute towards tangible projects via the Charity s magazines, website appeals and social media campaigns. Donations are also solicited through press releases highlighting latest rescues and through the introduction of mail shots. The donor datsbase builds a robust and current contact list, and we now have the infraslruclure in place to effectively support data capture. Further improvements lo the utilisalion of technology will allow for considerable growth in electronic marketing. Horse Sponsorship Scheme-This year a rebrand and relaunch of the Sponsorship Scheme will enable supporters to sponsor horses under rehabilitation and in addition those equines helping to deliver the HAPPA educational offering. The new scheme will continue lo enable our supporters lo become part of offering all our rescue horses a second chance, whether this be in a forever home or assisting in delivering the educational offering al Shores Hey Farm. All the animals we rescue deserve a Second Chance of happiness,. we work very hard to rehabilitate every animal admitted to the cenlre. We are anlicipaling a significant increase to current sponsor figures during the 2022123 financial year. The administration of this scheme also attracts donor retention. Corporate Sponsorship Scheme- Enables local and Intemalional businesses lo become Involved in our work by sponsoring the care of a HAPPA horse or a stable block. Corporate Sponsors reTrive regular team updates on their sponsorship. Businesses are asked to celebrate our success, lo champion when sponsored equines complete their rehabilitation. Membership - Supporters are actively encouraged lo 'Join the HAPPA Herd, and become a member", a membership policy statement is available, and the offering is open lo as many members as possible, provided they are over eighteen and genuinely motivated by equine welfare. Fees for the offering are staying consistent", however, the benefits for becoming a member of the Organisation have increased.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 Fundraising Practices The Head of Marketing and Fundraising organises and manages all fundraising events onsite and online. Co- ordinating the activities of our supporters both on site and outside of the Organisation. The Charity does not use professional fundraisers or involve commercial participators. The have been no complaints about fundraising activity this year. The Organisation has signed up to the Fundraising Regulator's Code of Fundraising Practice, as a result, all the fundraising guidance and working practices have been updated to ensure compliance. Volunteer fundraisers are now given a briefing before they raise funds for the Charity and will also be given forms to complete. To protect vulnerable persons all direct marketing is undertaken by the development team lo ensure that it is not unreasonably intrusive or persislenl. Contact is made through direct marketing a maximum of three times a year but usually quartedy. All marketing material contain clear instructions on how a person can be removed from mailing lists. A complaints produre is in place to protect persons that feel the Charity has not acted in their best interests. Improving the general infrastructure of HAPPA We are passionate about ensuring that all staff can develop and complete appropriate training. The Organisation has the required policies and procedures In place to support future development. This Includes embracing new technologies that will benefit the organisation and further improve staff development systems and opportunities. Staff training and development - A comprehensive staff induction scheme is in place. Combined with a modern appraisal system and enhanced opportunities for consultation and commLJnication, staff motivation is high which will impact positively on staff retention levels. Staff are encouraged to attend internal and external training sessions e.g., fundraising. legacy workshops and horse management and participate in external meetings and conferences. Prosecution and PACE training has improved the efficiency and effectiveness of front-line staff and management toining for those in a more senior role enhanced knowledge and provided for a more informed and united workforce. Professional Guidance - The Charity recognises that bespoke professional advice and support is necessary lo ensure that the Organisalion keeps abreast of changing legislation, manages its financial affairs appropriately and recruits and retains effective and motivated people. The Charity makes use of qualified consultants as and when necessary. In line with good practice, the Charity regularly tenders for professional services lo ensure the best level of support at competitive rates. Dats Management- The team have worked hard across the Organisation lo ensure that policies and procedures have been updated and improved to ensure compliance with relation to the General Data Protection Regulation IGDPRI as a result,. an alternative data management system was sourced in 2019, a data breach reporting procedure put in place and the allocation of responsibility with regards the proper management of supporter data and associated administration. staffing Structure- Remains the same, there are no plans to change the staffing structure moving forwards.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 Developlng the HAPPA Brand and developlng publlc approval and awareness A comprehensive Marketing Strategy is updated annually", in addition, a digital supporter engagement strategy has been composed to address the reduction of footfall lo sile al the beginning of the year. Publications are constantly reviewed lo promote organisalional initiatives and keep the brand fresh. The Charity's website has been redesigned and updated lo address the two clear facets of our Organisation, showcasing the integrity of our equine welfare work, whilst highlighting our commercial activities and our role as a tourist destination, keeping our name at the forefront across all areas of our work. We continually review our public interface to help us deliver a more cohesive and contemporary brand identity that will see all new activities plus our existing core business being promoted in an exciting and innovab've way. Promotional merchandise is kept under review and improved where appropriate. Advertising - Take a slruclured approach lo advertising and aims to continue lo focus on building brand awareness using hard copy and digital media. By raising brand awareness, the HAPPA Shores Hey Farm brand will become much familiar, resulting in being attractive lo potential donors. Corporate Style - The HAPPA logo and The Fussy Filly logo are the recognisable brands associated with our charitable operations. The closure of the conferencing suites has been a catalyst to dispersing with the previous multifaceted branding approach. Pursuing activities that prevent cruelty and suffering to equines. This is achieved by improving equine accommodation at the Cenlre, by providing guidance to personnel and members of the public who are involved in assessing equines. Equine accommodation plus additional Centre facilities - DLJring the year the Charity has continued to maintain and improve the facilities al the Shores Hey Rescue Centre to a high standard, providing the very best facilities for equine care and rehabilitation plus a great experience for visitors to the site. In addition, work has been completed to plaCe paddock fence lines, and a roof has been replaced on three large stables and toilet facilities. Toining Workshops and educational days are held st Shores Hey Farm to highlight appropriate methods of safely approaching, controlling, and handling equines, these are currently held onsite. Both employed personnel and members of the public benefit from these workshops. Education The educational offering has been developed by way of offering additional adult and child training days, with the focus of improving standards of equine care in the local community. The introduction of a club for young people to join and learn about caring for a horse correctly has been welcomed by the local community. Systems - A complete review and upgrade of existing systems has allowed for the introduction of policies and protocols to beller manage animals requiring accommodation and those currently in our care. Improving the HAPPA experience forvoluntegrs. visitors and supporters Improving visitor facilities at Shores Hey Farm and further developing the volunteer programme.. Visitor facilities- Reception, activities room, arena, onsite play area, education room and secondhand book shop are open 7 days a week. Shores Hey Farm stable areas and outbuilding are also open," the café is open and is accepting walk-ins and table reservations. The Visitor's centr Including the Café is well supported by members of the public. The introduction of a business hub has encouraged footfall during off peak times. Evening events are fully booked and their popularity continues to rise. Volunteer Management- the vital role that volunteers play in delivering HAPPA services and in raising funds has always been recnISed and resulted In the development of key volunteer roles and volunteer packs for people that are interested.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 Achlevements During the year the charity has achieved its objectives by attending 247 complaints of cruelly and neglect, accepting 43 needy equines, and rehoming 29 equines on permanent loan. At the year-end 51 equines were in residence al the Rescue Cenlre, and 242 equines aceommodaled in homes through our loan scheme. Shores Hey Farm has seen visitor numbers of 13,000 during the financial year, an increase in comparison to the year prior. There is an expected increase in the 202212023 financial year Idependanl on any further enforced government reslriclionsl. The Charity has been able lo educate 325 members of the public on how to care for horses correctly through the delivery of horse care courses and experience days al Shores Hey Farm. FINANCIAL REVIEW The financial statements sel out on pages 15 10 29 show a nel movement in funds for the year amounting to a deficit of £354,47612021'. £230,268) and nel assets of £3,402,21712021.' £3,756,693) al 31 August 2022. The net movement in funds.. Operating deficit Investment loss £1230,4161 £1124,0601 Legacies continue to be the core bul volatile source of income for the Charity and the charity is actively working to increase the awareness of the charity lo members and the public and encourage them lo inclLJde legacies lo the Charity in their wills. Legacy income in the year has increased from £373,084 10 £556,146, an increase of £183,062 in comparison to last financial year. The Charity is dependent upon the services of unpaid volunteers for fundraising and other purposes, the effect of which cannot be quantified. The Trustees have considered the most appropriate policy for investing funds and have appointed investment managers to work towards a target return agreed by the Trustees. RESERVES POLICY The Trustees have reviewed the reserves of the charity. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The review concluded that lo allow the Charity to continue the current activities a general reserve equivalent to £2 million should be maintained. This equates lo approximately two years of unrestricted fund expenditure. At the year end the Charity's general resetve, not already allocated lo building projects nor invested in fixed assets, amounted lo £1,201,966. The Trustees consider the current reserves lo be sufficient in light of the measures taken by the Government to combat the spread of the Corona Virus, the Trustees will continue to monitor the situation going fotward. LAND AND BUILDINGS In the opinion of the Trustees there is no significant difference between the market value and the book value of the Charity's interest in land and buildings.
HORSES AND PONIES PROTECTION ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 PLANS FOR FUTURE PERIODS The Charity has seen an increase of income from fundraising and trading activities this year in Comparison to the previous financial year due lo Government reslriclions being lifted. The Charity will continue to respond to reports of equine cruelty and neglect, ensuring high standards of eare for resident equines by following Government restrictions and guidelines in relation to social distancing and hygiene. Rehoming of equines will continue whilst restrictions allow it. Equine Ihroughpul has decreased by 280/0, a reduction that the Trustees feel is largely due to the increases seen in the cost of living. The Trustees recognise that Govemment imposed Corona Virus and the cosl-of-living crisis will influence income from immediate and future charitable activities, reserves will be ulilised as and when needed to ensure financial security. For financial stability investmenlswill be made in the development of onsite and online income generating activities and advances in digital technoly. Alongside this focus has shifted to developing the charities online, educational and customer experienee offerings. The situation will be monitored closely by the Board of Trustees,. all will continue lo safely further the Charity's objectives and activities, as detsiled above. AUDITORS MHA Moore and Smalley will be proposed for re-appointment at the forthcoming Annual Geneml Meeting. This report has beèn prepared in aecordance with the special provisions of Part 15 of the Companies aet 2006 relating lo small companies. Approved by order of the board of trustees oR.710412023 and signed on its behalf by P (L P A Warren- Trustee -10-
HORSES AND PONIES PROTECTION ASSOCIATION STATEMENT OF TRUSTEE RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2022 The Iruslees (who are also the directors of Horses and Ponies Protection Association for the purposes of company lawl ao responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genemlly Accepted Accounting Praclicel. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stsle 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 ststements, the trustees are required to Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charity SORP 2015 IFRS 1021., Make judgements and eslimales that are reasonable and prudent., Slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial stalemenls. Prepare the financial stslements on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in business The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and lo enable them lo 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. In so far as the Iruslees are aware There is no relevant audit information of which the charitable company s auditors are unaware", and The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
HORSES AND PONIES PROTECTION ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 AUGUST 2022 Oplnlon We have audited the financial statements of Horses and Ponies Protection Association Ilhe 'charilable company'l for the year ended 31 August 2022 which comprise the Statement of Financial Activities, Balan Sheet, Slalement of Cashflows and notes to the financial slalements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel. In our opinion the financial statements.. give a true and fair view of the stale of the charitable company's affairs as al 31 August 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally A¢pted Accounting Practice", and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have Concluded that the trustees, use of the going concem basis of accounting In the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infonnation The trustees are responsible for the other information contained within the Report of the Trustees. The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the exlenl otherwise explicitly stated in our report, we do not express any form of assuran conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so, consider whether the other infomialion is materially inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslatemenls, we are required to determine whether there is a material misslatemenl in the financial statements or a material misstalemenl of the other information. If, based on the work we have performed, we conclude that there Is a material misstatement of this other infomialion, we are require to report that fact. -12-
HORSES AND PONIES PROTECTION ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 AUGUST 2022 We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Iruslees, report lincorporating the directors, report) for the financial year for which the financial statements are prepared is consislenl with the financial statements., and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitsble company and its environment obtained in the course of the audit, we have not identified material misslalements in the directors, report. We have nothing lo report in respect of the following matters in relation lo which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial slalements are not in agreement with the accounting records and returns., or certain disclosures of directors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit," or the Iruslees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaffintee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misststemenls can arise from fffiud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. -13-
HORSES AND PONIES PROTECTION ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 AUGUST 2022 Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstalemenls in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are Capable of delecling irregularities, including fmud is detailed below.. Enquiries with management about any known or suspected instsnces of non-compliance with laws and regulations., Enquires with management about any known or suspected instances of fraud., Reviewing minutes of meetings of those charyed with governance., Examination of journal entries and other adjustments lo lest for appropriateness and identify any instanS of management override of controls., Review of legal and professional expenditure lo identify any evidence of ongoing liligalion or enquiries. Because of the field in which the client operates we identified that employment law, health and safely legislation and compliance with the UK Companies Act are the areas most likely to have a material impact on the financial statements. Because of the Inherent limitations of an audit, there is a risk that we will not detect all Irregularities, including those leading to a material misstatement in the financial statements or non•compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional oncealmenl, forgery, collLJsion, omission or misrepresentation A further description of our responsibilities is available on the Financial Reporting Council's website at". htt s.Ilwww.frc.or .uklOur-WorklAudiVAudil-and-assurancelSlandards-and- uidancelSlandards-and- uidance- for-audilorslAuditors-res onsibilities-for-audiuDescri tion-of-audilors-res onsibililies-for-audil.as This description forms part of our auditor's report Use of our report This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the company's members those matters we are required lo slate lo them in an auditorfs report and for no other purpose. To the fullest extent permilled by law, we do not acP1 or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Nicola Mason (Senior Statutory Auditorl for and on behalf of MHA Moore and Smalley Chartered Accountants Statutory Auditor Richard House 9 Winckley Square Preston PR1 3HP 0510512023 -14-
HORSES AND PONIES PROTECTION ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expenditure Accounti FOR THE YEAR ENDED 31 AUGUST 2022 Unrestrictsd Restricted general funds funds Total Total funds funds Year ended Year ended 31 August 31 August 2022 2021 Income and endowments from: Note tlonalions and legacies Charitable actiiities other trading aclimlies In¥estments Other 619,247 15,638 273,135 19,848 41,991 65.792 685,039 15,638 273,135 19,848 41,991 486,744 16,637 70,960 22,336 125,010 Totsl income 969,859 65.792 1,035,651 721,687 Expenditure on- Raising funds Charitable activities Equine welfare 250,285 250,285 145,400 970,162 45.620 1,015,782 980,812 Total expenditure 1,220,447 45,620 1,266,067 1,126,212 Nel defiict before movement on inlmentS 1250,5881 20.172 1230,4161 1404,5251 Nel gainslllossesl on in*slmenls 1124,0601 1124,0601 174,257 Net incomellèxpenditurel 1374,6481 20.172 1354,4761 1230,2681 Reconciliation of funds Total ndS brought fOnard 3.756,693 3,756,693 3,986,961 Total funds carried forward 3,382,045 20,172 3,402,217 3,756,693 -15-
HORSES AND PONIES PROTECTION ASSOCIATION BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted funds Restricted funds Total funds 2022 Total funds 2021 Note Fixed assets Intangib assets Tangible assets InveslrrEnls 14 15 16 1,359 2,181,418 744,301 2,927.078 1,359 2,181,418 744,301 2,927,078 4,140 2,235,078 1,088,620 3,327,838 Current assets Stock Debtors Cash at bank and in hand 20,042 301,876 175,384 497,302 20,042 301,876 195 556 517,474 15,394 153,077 2,659 465,130 17 20,172 20,172 Creditors.. amounts falling due within one year 18 {42,3351 {42,335) 136,275) Net current assets 454,%7 20,172 475,139 428,855 Total assets Iv6s current liabilities 3,382,045 20,172 3,402,217 3,756,693 Net assets 3,382,045 20,172 3 402 217 3,756,693 Funds Unrestricted funds Restricted Funds 3,382,045 3,382,045 3,756,693 20 3,382,045 20,172 3 402 217 3,756,693 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime. 2710412023 The financial ststements were approved by the Board of Trustees on by.. and were signed on its behalf P CL P A Warren- Trustee Company number.. 04062415 (England and Vvalesl -16-
HORSES AND PONIES PROTECTION ASSOCIATION STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Note Cash generated (used in}1 generated by in operating actwities 21 317 101 332,036 Cash flovts from investing activities InStnI inconE 19,848 22,336 Purchase of fi>Ed assets 124,1091 19,3081 Purchase of InStents 123,9801 1236,5561 Proceeds on distM)sal of investnts 244,239 327,815 Cash (used inllprovided by investing actNf(ies 215 998 (Decreaselllncrease in cash and cash equivdents in the year 1101,1031 1227,7491 Cash and cash equints at the beginning of the year 296,659 524,408 Total $h and cash equivalents at the end of the year 195,556 2*,659 -17-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of eslimalion UnrtaInty in the preparation of the financial slalements are as follows.. Basis of preparing the financial statements The financial statements of the charitable eompany have been prepared in accordance with 'Accounling 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 IFRS 102lleffective October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Horses and Ponies Protection Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical ¢051 or Iransa¢lion value unless otherwise stsled in the relevant accounting policy note. The financial stslemenls are presented in sterling which is the functional currency of the charity and rounded lo the nearest £. Preparation of the accounts on a going concern basis The trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related lo events or conditions that may cast significant doubl on the ability of the charitable company lo continue as a going conTrrn. The Iruslees make this assessment in respect of a period of at least one year from the dale of aulhorisalion for issue of the accounts and have concluded that the academy trust has adequate resources to continue In operational existence for the foreseeable future and there are no material uncertainties about the academy trust's ability lo continue as a going Conrn. Thus they continue to adopt the going concern basis of accounting in preparing the accounts. Income All income is recognised in the Statement of Financial Activities once the charity has enlillemenl lo the funds, it is probable that the income will be received and the amount can be measured reliably. Grant income is recognised when the charity is entitled to the funds. This Include Income in respect of the coronavirus job retention scheme and the retail and hospilalily grant. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in selllemenl 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 allribuled lo particular headings, they have been allocated to activities on basis consistent with the use of resources. Allocation and apportionment of costs Support costs include ntral functions and have been allocated to charity cost categories on a basis consislenl with the use of resource, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. -18-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ACCOUNTING POLICIES-continued Intangible assets Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisalion and accumulated impairment losses. Intangible assets with indefinite useful lives and intangible assets not yel available for use are tested for impaimienl annually, and whenever there is an indication that the asset may be impaired. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Sofvare 20 /0 p.a. straight line Tangiblg fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its eslimaled useful life. Freehold interest in land and buildings Stables and equipment Fixtures and fi'ttings Motor vehicles 20/0 p.a. straight line 100/0 p.a. on reducing balance 100/0 -300A p.a. on reducing balance 250A p.a. on reducing balance Stocks Stocks are valued at the lower cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The company is a registered charity and to the exlenl that ils income is applied on the specific charitable objects of the charity is exempt from laxalion. Income receivable in respect of non primary purpose trade is taxable. Fund accounting Unreslricled 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 stalemenls. 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. -19-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ACCOUNTING POLICIES-continued Legacles Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied the propety in question will not be required to satisfy claims in the estate, that is probable that the amount will be received by the charity. and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached lo the legacy are either wthin the control of the charity or have been meL Where a payment is received from an estate or is notified as receivable by the executors afterthe reFlOrting dale and before the accounts are authorised for issue but it is clear that payment had been agreed by the executor prior to the end of reporting period, then the amount concerned is treated as an adjusting event and accrued as income in accounting period if receipt is probable. Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy are disclosed as a contingent asset until the criteria for the income recognition are Met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of life tenant. Al the year end there are not such amounts. If it is doubtful that the full settlement of the legacy debtor will be received, the adjuslmenl is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the SOFA. Govomance costs Governan costs include costs of the preparation and audit of the statutory accounts, the costs of the trustees meetings and costs of any legal advice lo trustees on governance or conslitulional matters. Fixed assets Individual fixed assets costing £500 or more are initially recorded al cost. Investments Fixed asset investments are included at market value at the balance sheet dale. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the stslement of financial activities based on the Market value year end. Operating leases Rental payable under operating lease5 are charged in the statement of financial acb'vities on a straight line basis over the lease term. Govemment Grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be mel and the grants will be received. A grant that specifies performance conditions is reeognised in income when the performance conditions are mel. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. -20-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ACCOUNTING POLICIES-continued Crltlcal accountlng estlmates and areas of Judgement Accounting estimates and judgements are continually evaluated and are based on historical experien and other factors, including expectations of future events that are believed to be reasonable under the circumstanTrs. Critical accounting estimated and assumptions The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The eslimales and assumptions that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are discussed below'.- Useful economic life of tangible fixed assets The useful economic life of tangible fixed assets is judged al the point of purchase. Impairment of fixed assets At each balance sheet dale, management undertake an assessment of the carrying valLJe oftangible fixed assets to determine whether there Is any Indication that the value has been impaired. Where necessary, an impairment is recorded as an impairment loss. DONATIONS AND LEGACIES Unrestrlcted general funds Totsl funds 2022 Totsl funds 2021 Restricted funds tlonations and subscriptions Gift Aid donations including tax reclaim Legacies and bequests 110,362 1,821 507,064 16,710 127.072 1.821 556.146 104,479 9,181 373,084 49.082 619,247 65,792 685,039 486,744 Income from donations and legacies of £619,247 was unreslricled., £65,792 was reslricled. 12021.. £486,744 unrestricted). CHARITABLE ACTIVITIES Unrestricted Total Total general funds Rgstrl¢tsd funds fund$ 2022 funds 2021 Membership fees Loan scheme CrDSS agency fees Educational days 7,685 6,397 1,079 4TT 7.685 6.397 1.079 477 6,793 6,594 3,250 15,638 15.638 16,637 Income from charitable activities for both 2022 and 2021 was unrestricted. -21-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 OTHER TRADING ACTIVITIES Unrestricted Total Total general funds Restrlcted funds funds 2022 funds 2021 Merchandising sales Visitor centre sales 83,786 178.733 10,616 273,135 83.786 178.733 10.616 273.135 31,717 39,243 Facilities hire 70,960 Income from other trading for both 2022 and 2021 was unreslricled. INVESTMENT INCOME Unrestricted Total Total general Restrlcted funds funds funds 2022 funds 2021 Income from listed inlestments 19.457 391 19.457 391 22,331 Interest income 19.848 19.848 22,336 Investment income for both 2022 and 2021 was unrestricted. OTHER INCOME Unrastrlcted general ReStrted funds funds Total funds 2022 Total funds 2021 Other Inco 41,991 41,991 125,010 41.991 41,991 125,010 Other income for both 2022 and 2021 was unrestricted. Other income includes £0 12021.. £57,619) in respect of the coronavirus job recovery scheme, Biomass Rebate of £10,671 12021.£0}, Fundraising income £24,161 and £6,000 12021.. £49,758) retail and hospilalily grants and other support grants. -22-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 RAISING FUNDS Donations and legacies Unrestricted general Restricted funds funds Total funds 2022 Total funds 2021 Ad)Ertising costs Trdining costs Fundraising costs 12,104 10,279 3,832 12.104 10.279 3,832 13,340 4,026 1,991 26,215 26.215 19,357 Other trading actlvltles Purchases staff costs 114,051 103,564 114,051 103.564 36,150 81,977 217,615 217,615 118,127 Investment management costs IniEstment management fees 6,455 6.455 7,916 6,455 6,455 7,916 Total raising funds 250,285 250,285 Costs of raising funds related to unreslricled funds in the current and previous year. 145,400 CHARITABLE ACTIVITIES COSTS Direct costs Support costs Totals (See note 91 (See note 101 Equine Weware 981132 34 650 1015 782 The cost of charitable activities related to unrestricted funds in the current and previous year. -23-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 DIRECT COSTS OF CHARITABLE ACTIVITIES Unrestricted general Restrrcted funds funds Total funds 2022 Total fund8 2021 Staff costs Establishmènt costs including insurance Repairs, Maintenance and repknement Officè expènsès Printing, wsting, stats'onery and neWserS Animal fstuff. [Inary f&$ and rrisce113neous Costs )tor expenses Leg81 and professional fees Loss on disposal of a&qets Depreciation 612,369 63.357 67.411 5.987 11.392 60.905 28,971 5.360 421 612,369 618,397 63.357 50,148 84,011 83,433 5.987 5.897 11,392 11,738 89.925 75.122 28,971 21,836 5.360 5,307 421 16,600 29.020 935 $12 981 132 954.086 10 SUPPORT COSTS Management Governance costs Totals Equine welfare 20,213 14,437 34,650 Support costs, included in the above, are as follows". Unreicted general Restrlcted funds funds Total funds 2022 Total funds 2021 Wages Social Security A¢counlan¢y and payroll fees Bank charges Auditors. remuneration Trustee indemnity insurance 11,129 955 5,907 8,129 6,710 1,820 34,650 11,129 10,414 955 701 5,907 5,768 8,129 4,523 6,710 5,700 1,820 13801 34,650 26,726 -24-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 11 NET INCOMEIIEXPENDITUREI Nel incomellexpenditurel is stsled after chargingllcreditingl 2022 2021 Auditors, remuneration Depreciation and amortisation - owned assets Operating lease rentals Loss on disposal of fixed assets 6,710 79,339 586 421 5,700 82,208 3,139 12 TRUSTEES. REMUNERATION AND BENEFITS Trustees, expenses No Iruslees received nor waived any remuneration during the year and no trustees had any expenses reimbursed during the current and prior year. Trustees indemnity insurance amounted to £1,82012021'. £8781. Donations of £100 were received from trustees in the year. 13 STAFF COSTS 2022 2021 Wages and salaries Social security costs Other pension costs 672,509 43,479 11,453 656,898 43,156 11,435 727,441 711,489 No employees received emoluments in excess of £60,000 Remuneration of Key Management Personnel which relates to the Chief Executive Officer was £55,300 12020. £53,162). The number of employees during the year was.. 2022 2021 Administration Animal welfare Visitor centre 13 21 10 10 25 42 -25-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 14 INTANGIBLE FIXED ASSETS Computer Software Total C08t or valuation At 1 September 2021 Additions Disposals At 31 August 2022 13,904 13.904 13,904 13.904 Depreciation At 1 September 2021 Charge in the year Elimin8ted on disKM)sal At 31 August 2022 9,764 2,781 9,764 2,781 12,545 12,545 Net book value At 31 August 2022 1,359 1,359 At 1 September 2021 4,140 4, 140 15 TANGIBLE FIXED ASSETS Freehold Stables and Fixtures and premises equipment ffttings Motor vehicles Total Cost or valuatlon At 1 Seplewtsr 2021 Additions DisposaL At 31 August 2022 2.477,388 14,267 464,573 4.093 148.246 5,749 2,535 113.655 3.203.862 24,109 2 491 655 468 666 113655 3 225 436 Depreciation At 1 SeplerrEr 2021 Charge in the year Elminated on disposal At 31 August 2022 500,146 47,514 301,623 16,704 69,573 8,288 97,441 4,052 968.783 76.558 318 327 101 493 Net book value At 31 August 2022 1 943 995 150 339 2 181 418 At 1 Seplener 2021 1,977,242 162 950 78,673 16,214 2 235 079 -26-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 16 FIXED ASSET INVESTMENTS At 1 September 2021 Additions Disposa Revaluations At August 2022 1,088,620 23,980 {244,2391 124 060 744,301 Llsted Investments Investments having a martfet value of £744,301 12021 £1,088,620) are listed on a recognised stock exchange. 17 DEBTORS . AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Other debtors PrepaynEnts and accrued income 1,788 300,855 3,762 149,315 153 077 18 CREDITORS .. AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade creditors Ta>3ts'on and social security Other credit(Irs 13,728 13.127 16,247 11,813 9,998 14,464 36,275 19 OPERATING LEASE COMMITMENTS The following operating lease payments are committed to be paid.. 2022 2021 Wilhin one year Bthen one and fi years 586 2,489 -27-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 20 MOVEMENT IN FUNDS At 1 September Incoming Outgoing 2021 resources resources Transfers and At 31 August other gains 2022 Unrestricted funds (kneral funds FixEd asset funds 1,517,475 969,859 11,140,687) 2,239,218 179,7601 1147,3791 23,319 1,199,268 2,182,777 Restricted funds Donations Legacies 16,710 49.082 116,6201 129.0001 90 20,082 Total funds 3,756,693 1,035,651 1,266,067 124,060 3,402,217 At 1 September Incoming Outgoing 2020 resources resources Transfers and At 31 August other gains 2021 Unrestricted funds neral funds Fixed asset funds 1,674,846 721,687 11,044,004) 2,312,115 182,2081 164,949 9,308 1,517,478 2,239.215 Restricted funds Donations Total funds 3,986,961 721,687 1,126,212 174,257 3,756,693 21 RECONCILIATION OF NET MOVEMENT IN FUNDS TO CASH FLOW FROM OPERATING ACTIVITIES Totsl Totsl funds 2022 funds 2021 Net M0ment in fvnds 1354,476) (230,268) 79,339 82,205 1.212 119.848) {22,336) 14,649) (2,775) 1148.799) 19,055 6.060 13,660) 124.060 (174,257) 1317,101) (332,036) Depreciation Lossl{Surplus) on disposal Diiidend income shown in inlesting actiifities Decreasel{increase in stock) Decreasel{increase in debtors) Increaselldecrease in creditors) Gainslllossesl on instment assets Net cash generated byl(usedl in operating actiiAties -28-
HORSES AND PONIES PROTECTION ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 22 PENSION COMMITMENTS The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted £11,45312021'. £11,435). There were no outstanding or prepaid contributions al either the beginning or end of the financial year. 23 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2022 except those as disclosed in note 12 to the accounts. Controlling entity The charity is under the control of the Iruslees 24 CONTINGENT ASSETS The Charity uses a service which gives notification that il is included in a will. The Charity tracks any legacies that il is notified of bul does not recognise them in the accounts until they are entitled to them, receipt is probable and a value can be attributed to them. As such the Charity has conlingenl assets that it cannot currently quantify. 25 MEMBERS, LIABILITY The Charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable lo contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation. -29-