| Page | |||||
|---|---|---|---|---|---|
| Charity reference and administrative | details | ||||
| Trustees' annual report |
(including | the | directors' | report) | |
| Independent Examiner's |
report to | the | trustees | ||
| Statement offinancial activities |
|||||
| Balance sheet | |||||
| Statement ofcashflowe | |||||
| Notes to the accounts | 12 |
| Registered | Registered | Registered | charity | name | The British Thoroughbred | Retraining | Centre Limited | |
|---|---|---|---|---|---|---|---|---|
| Charity | registration | number | 1089564 | |||||
| Company | number | 04104341 | ||||||
| Principal | and registered | office address | Whinney Hill |
|||||
| Aughton Road |
||||||||
| Halton | ||||||||
| Lancashire | ||||||||
| LA2 6PQ | ||||||||
| Trustees | Ms B Bell | |||||||
| Mr M Davis | ||||||||
| Ms M Metz | ||||||||
| Mrs SScott | ||||||||
| Mr J Sexton | ||||||||
| Mr KThomas | ||||||||
| Mr P Woodcock-Jones | ||||||||
| Independent | Examiner | MHA Moore and Smalley | ||||||
| Chartered Accountants |
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| Priory Close | ||||||||
| St Mary's Gate | ||||||||
| Lancaster | ||||||||
| Lancashire | ||||||||
| LA1 1XB |
| FOR THE YEAR E | NDED 31 | DECEMBER | 2021 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | 2021 | 2020 | |||
| Income from: | ||||||
| Donations, legacies |
and grants | 303,607 | 16,294 | 319,901 | 493,791 | |
| Iniestments | 88 | 88 | 124 | |||
| Chadtable actigties |
47,211 | 47,211 | 36,367 | |||
| Total | 350,906 | 16,294 | 367,200 | 530,282 | ||
| Expenditure on: |
||||||
| Raising funds | 6,397 | 6,397 | 3,614 | |||
| Charitable activities |
480,515 | 32,209 | 512,724 | 479,289 | ||
| Tots I | 486,912 | 32,209 | 519,121 | 482,903 | ||
| Net (expenditure)/income | before | |||||
| transfers | (136,006) | (15,915) | (151,921) | 47,379 | ||
| Transfer between funds |
12,449 | (12,449) | ||||
| Net movement in |
funds | (123,557) | (28,364) | (151,921) | 47,379 | |
| Reconciliation offunds: |
||||||
| Total funds brought |
forward | 868,238 | 71,192 | 939,430 | 892,051 | |
| Total funds carried forward | 744,681 | 42,828 | 787,509 | 939,430 |
| AS AT 31 DECEM | B | ER 2021 | |||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| Fixed assets | |||||||
| Tangible assets | 12 | 1,129,212 | 1,122,831 | ||||
| Current assets | |||||||
| Stock | 13 | 1,500 | 1,500 | ||||
| Debtors | 14 | 7,520 | 18,104 | ||||
| Cash at bank and | in | hand | 68,819 | 83,995 | |||
| 77,839 | 103,599 | ||||||
| Creditors: amounts |
falling due within | ||||||
| one year | 15 | (180,080) | (29,290) | ||||
| Net current assets | (102,241) | 74,309 | |||||
| Total assets less | current liabilities | 1,026,971 | 1,197,140 | ||||
| Creditors: amounts | falling due atter | ||||||
| more than one year | (239,462) | (257,710) | |||||
| Net assets | 787,509 | 939,430 | |||||
| Funds: | |||||||
| Restdicted funds |
19 | 42,828 | 71,192 | ||||
| Unrestricted funds |
20 | 744,681 | 868,238 | ||||
| Total funds | 787,509 | 939,430 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| 8 | f | |||
| Cash generated in operating activities |
(1,938) | 38,475 | ||
| Cashflows from investing activities |
||||
| investment income |
88 | 124 | ||
| Purchase oftangible fixed assets |
(13,326) | |||
| Cash provided by/(used in) investing activities |
(15,176) | 38,599 | ||
| Increase/(Decrease) in cash and |
cash equivalents | in the | ||
| year | (15,176) | 38,599 | ||
| Cash and cash equivalents brought |
forward | 83,995 | 45,396 | |
| Cash and cash equivalents carried forward |
68,819 | 83,995 | ||
| Reconciliation ofnet movement |
in funds to net cashflow | from operating | activities | |
| Net movement in funds |
(151,921) | 47,379 | ||
| investment income received |
(88) | (124) | ||
| Depreciation and amortisation |
6,945 | 8,940 | ||
| (Increase)/Decrease in debtors |
10,584 | (2,474) | ||
| Increase/(Decrease) in creditors |
132,542 | (15,246) | ||
| Net cash generated in operating |
activities | (1,938) | 38,475 | |
| Components ofcash and cash equivalents |
||||
| Cash at bank and in hand | 68,819 | 83,995 | ||
| 68,819 | 83,995 |
| Land and | building | Not depreciated/4% straight |
line on buildings |
|---|---|---|---|
| Property | improvements | Not depreciated/4% straight |
line on buildings |
| Plant and | equipment | 20% reducing balance |
|
| Motor vehicles | 25% reducing balance |
| Unrestricted | Restricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | ||||||
| E | E | E | f | ||||||
| Donations, | legacies and | grants | |||||||
| Donations | 142,390 | 1,549 | 143,939 | 167,580 | |||||
| Gift Aid | 18,761 | 18,761 | 13,266 | ||||||
| Legacies receivable | 25,200 | 25,200 | 38,791 | ||||||
| 186,351 | 1,549 | 187,900 | 219,637 | ||||||
| Grants receivable | for core activities | ||||||||
| Retraining | ofRacehorses | (ROR) | 14,745 | 14,745 | 40,000 | ||||
| Codd-19 Emergency | Grant | (RF) | 105,000 | 105&000 | 208,181 | ||||
| Coronadrus | Job Retention | Scheme (CJRS) | 12,256 | 12,256 | 17,085 | ||||
| Other grants | receivable | 5,888 | |||||||
| Other income | 3,000 | ||||||||
| 303,607 | 16,294 | 319,901 | 493,791 | ||||||
| Total 2020 | 437,903 | 55,888 | 493,791 |
| Unrestricted | Restricted | Tots I | Total | |||
|---|---|---|---|---|---|---|
| funds E |
funds f |
2021 E |
2020f | |||
| Bank | interest | receivable | 88 | 88 | 124 | |
| 88 | 88 | 124 | ||||
| Total | 2020 | 124 | 124 |
| Unre stricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | ||
| 8 | 6 | 8 | F | ||
| Fundraising | 20,028 | 20,028 | 11,058 | ||
| Sale ofmerchandise | 2,125 | 2,125 | 1,310 | ||
| Rent from land | 6,300 | 6,300 | 6,300 | ||
| Compensation | and easements | 538 | 538 | 537 | |
| Single farm payment | 15,939 | 15,939 | 16,639 | ||
| Other income | 2,281 | 2,281 | 523 | ||
| 47,211 | 47,211 | 36,367 | |||
| Total 2020 | 36,367 | 36,367 |
| Unrestricted | Restricted | Tote I | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | |||
| 6 | 5 | 6 | f | |||
| Fundraising | and marketing | costs | 6,397 | 6,397 | 3,614 | |
| 6,397 | 6,397 | 3,614 | ||||
| Total 2020 | 3,514 | 3,614 |
| Tots I | Total | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Care ofThoroughbreds | 161,002 | 143,452 | |
| Depreciation | 6,945 | 8,940 | |
| Staffcosts | 179,118 | 165,086 | |
| 347,065 | 317,478 | ||
| Support costs (note 8) | 163,159 | 159,310 | |
| Governance | costs (note 8) | 2,500 | 2,500 |
| 512,724 | 479,288 | ||
| Analysis by |
fund | ||
| Unrestricted | funds | 480,515 | 434,740 |
| Restricted funds |
32,209 | 44,548 | |
| 512,724 | 479,288 |
| Support | Governance | Total | Total | |
|---|---|---|---|---|
| coals | coals | 2021 | 2020 | |
| Staif costs | 102,058 | 102,058 | 101,558 | |
| Premises | 11,224 | 11,224 | 10,794 | |
| Legal and professional | 1,578 | 1,578 | 1,028 | |
| Finance costs | 5,424 | 5,424 | 7,517 | |
| Office costs | 8,427 | 8,427 | 6,434 | |
| Repairs | 8,092 | 8,092 | 8,140 | |
| Insurance | 10,563 | 10,563 | 9,861 | |
| Motor | 13,028 | 13,028 | 11,659 | |
| Licences | 2,163 | 2,163 | 1,344 | |
| Subscriptions | 602 | 602 | 976 | |
| Accountancy | 2,500 | 2,500 | 2,500 | |
| 163,159 | 2,500 | 165,659 | 161,811 |
| Net income/e | xpenditure | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Net income | isstated | after charging: | ||
| Staff pension | contributions | 4,501 | 4,093 | |
| Independent | Examiner's | fees | 2,500 | 3,000 |
| Depreciation | oftangible | assets | ||
| -owned by |
the charity | 6,945 | 8,940 |
| Total staff costs were as | Total staff costs were as | Total staff costs were as | follows: | 2021f | 2020 E |
||
|---|---|---|---|---|---|---|---|
| Wages and | salaries | 264,633 | 251,701 | ||||
| Social security | costs | 12,042 | 10,850 | ||||
| Pension costs | 4,501 | 4,093 | |||||
| 281,176 | 266,644 | ||||||
| 2021 | 2020 | ||||||
| No | No | ||||||
| Administratiu. | staff | 2 | 2 | ||||
| Stable staff | 16 | 15 | |||||
| 18 | 17 | ||||||
| The number | of | employees | whose annual | remuneration | was 560,000 or | ||
| more were; | 2021 | 2020 | |||||
| No | No | ||||||
| 560,000 - 569,999 |
| Tangible fixed assets | |||
|---|---|---|---|
| Freehold | Plant & | ||
| Property 5 |
equipment f |
TotsIs 5 |
|
| Cost | |||
| At 1 January 2021 |
1,444,886 | 94,810 | 1,539,696 |
| Additions | 13,326 | 13,326 | |
| Disposals | |||
| At 31 December 2021 | 1,458,212 | 94,810 | 1,553,022 |
| At 1 January 2021 |
345,457 | 71,408 | 416,865 |
| Charge for the year | 1,274 | 5,671 | 6,945 |
| Eliminated on disposal |
|||
| At 31 December 2021 | 346,731 | 77,079 | 423,810 |
| Net book value | |||
| At 31 December 2021 | 1,111,481 | 17,731 | 1,129,212 |
| At 31 December 2020 | 1,099,429 | 23,402 | 1,122,831 |
| 2021 | 2020 |
|---|---|
| 5 | 5 |
| 1,500 | 1,500 |
| 1,500 | 1,500 |
| 2021 | 2020 | |
|---|---|---|
| 6 | ||
| Trade debtors | 808 | 160 |
| VAT | 2,726 | 13,788 |
| GiR aid recoverable | 3,695 | 2,156 |
| Prepayments | 2,000 | |
| Other debtors | 291 | |
| 7,520 | 18,104 |
| Note | 2021f | 2020 5 |
|||
|---|---|---|---|---|---|
| Bank loans | 18,442 | 18,636 | |||
| Other taxation | and | social security | 3,985 | 3,973 | |
| Trade creditors | 3,135 | 1,473 | |||
| Other creditors | 976 | 2,139 | |||
| RoR loan | 50,000 | ||||
| Racing Foundation | loan | 100,000 | |||
| Accruals | 3,542 | 3,069 | |||
| 180,080 | 29,290 |
| Note | 2021 | 2020 | ||
|---|---|---|---|---|
| 6 | 6 | |||
| Bank | loans | 17 | 239,462 | 257,710 |
| 239,462 | 257,710 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| 6 | 6 | |||||
| Bank loans | 257&904 | 276,346 | ||||
| Payable | within one | year | 18,442 | 18,636 | ||
| Payable | atter more | than one year | 239,462 | 257,710 | ||
| Amounts | included | above which | fall due atter more than | five years: | ||
| Payable | by instalments | 160,909 | 180,292 |
| At 1 | At 31 | |||||||
|---|---|---|---|---|---|---|---|---|
| January | December | |||||||
| 2021 8 |
Income f |
Expenditure 6 |
Transfers 6 |
2021 5 |
||||
| Horsewalker | 2,538 | (508) | 2,030 | |||||
| Project Grant | ||||||||
| Ride for Retraining | 7,870 | (7,870) | ||||||
| Racing Foundation | Capital | Grant | 13,476 | (3,369) | 10,107 | |||
| EPT Grant for Lunge Pen | ||||||||
| Petplan Grant for Horse Trailer |
3,318 | (702) | 2,616 | |||||
| Thompson family trust |
41,382 | (16,841) | 24,541 | |||||
| Hedging grant |
1,124 | 1,124 | ||||||
| Jockey Club: Christmas | card | 1,484 | (490) | 994 | ||||
| sponsorship | ||||||||
| Retraining ofRacehorses |
14,745 | (14,745) | ||||||
| Over reach boots appeal | 307 | (133) | 174 | |||||
| D Canning memorial |
fund | 1,142 | 1,142 | |||||
| lain Milne | 100 | 100 | ||||||
| Restricted income | funds | 71,192 | 16,294 | (32,209) | (12,449) | 42,828 | ||
| Restricted funds: | prior | year | ||||||
| At 1 | At 31 | |||||||
| January | December | |||||||
| 2020 6 |
Income f |
Expenditure f |
Transfers f |
2020 5 |
||||
| Horsewalker | 3,173 | (635) | 2,538 | |||||
| Project Grant | 2,627 | (2,627) | ||||||
| Ride for Retraining | 10,059 | (2,189) | 7,870 | |||||
| Racing Foundation | Capital | Grant | 17,968 | (4,492) | 13,476 | |||
| EPT Grant for Lunge Pen | 20,000 | (20,000) | ||||||
| Petplan Grant for Horse Trailer |
4,253 | (935) | 3,318 | |||||
| Thompson family trust |
50,000 | (8,618) | 41,382 | |||||
| Hedging grant |
5,888 | (4,764) | 1,124 | |||||
| Jockey Club: Christmas | card | 1,772 | (288) | 1,484 | ||||
| sponsorship | ||||||||
| Restricted income | funds | 59,852 | 55,888 | (44,548) | 71,192 |
| At 1 | At 31 | ||||||
|---|---|---|---|---|---|---|---|
| January | December | ||||||
| 2021 | Income | Expenditure | Transfers | 2021 | |||
| 6 | 6 | 6 | 6 | 6 | |||
| General | Funds | 868,238 | 350,906 | (486,912) | 12,449 | 744,681 | |
| Unrestricted | funds | 868,238 | 350,906 | (486,912) | 12,449 | 744,681 |
| At 1 | At 31 | ||||||
|---|---|---|---|---|---|---|---|
| January | December | ||||||
| 2020 | Income | Expenditure | Transfers | 2020 | |||
| 6 | 8 | 6 | 6 | ||||
| General | Funds | 832,199 | 474,394 | (438,355) | - | 868,238 | |
| Unrestricted | funds | 832,199 | 474,394 | (438,355) | 868,238 |
| Tangible | Net current | Long term | ||
|---|---|---|---|---|
| fixed assets 8 |
assets 8 |
liabilities f |
Tots If | |
| Restricted Funds |
15,261 | 27,567 | 42,828 | |
| General Funds |
1,113,951 | (29,808) | (339,462) | 744,681 |
| Total funds | 1,129,212 | (2,241) | (339,462) | 787,509 |
| Analysis | of net assets between | funds: prior year | ||||
|---|---|---|---|---|---|---|
| Tangible | Net current | Long term | ||||
| fixed assets | assets | liabilities | Tots I | |||
| 6 | 6 | 5 | ||||
| Restricted | Income Funds | 19,332 | 51,860 | 71,192 | ||
| General | Funds | 1,103,499 | 22,449 | (257,710) | 868,238 | |
| Total funds | 1,122,831 | 74,309 | (257,710) | 939,430 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| 6 | f | |||
| Amounts | payable: | |||
| Within | 1 | year | 4,372 | 480 |
| Between | 1 and 5 years | 4,198 | ||
| 4,372 | 4,678 |
| Remuneration | Remuneration | of Key management | personnel | |||
|---|---|---|---|---|---|---|
| The remuneration | ofkey management | personnel | is as follows: | |||
| 2021 | 2020 | |||||
| 6 | 6 | |||||
| Aggregate | compensation | 96,948 | 92,669 | |||
| 96,948 | 92,669 |