Company registration number: 5079915 Charity registration number: 1103883
Conquest Centre Limited
(A company limited by guarantee)
Unaudited Annual Report and Financial Statements for the period from 1 July 2024 to 31 July 2025
Conquest Centre Limited Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 to 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 to 27 |
Conquest Centre Limited Reference and Administrative Details
| Trustees: | David Hardy |
|---|---|
| John Michael Harrison | |
| James Holyday | |
| Susan Fender (appointed 23 October 2024) | |
| Dr Thomas MacConnell (appointed 23 October 2024) | |
| Centre manager | J Dixon |
| Charity Registration Number | 1103883 |
| Company Registration Number | 5079915 |
| The charity is incorporated in England & Wales. | |
| Registered Office | Conquest Centre |
| Conquest Farm | |
| Norton Fitzwarren | |
| Taunton | |
| Somerset | |
| TA2 6PN | |
| Independent examiner | A C Mole LLP |
| Stafford House | |
| Blackbrook Park Avenue | |
| Taunton | |
| Somerset | |
| TA1 2PX |
Page 1
Conquest Centre Limited Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the period ended 31 July 2025. The company's year end date has been changed from 30 June to 31 July to align with its revenue generation linked to school terms. This report covers a thirteen month period with prior year comparatives for twelve months.
Objectives and activities
Vision
For everyone to have access to the therapeutic support they need in a safe, natural and non-judgemental setting to improve emotional, social, physical and mental wellbeing.
Mission
To provide therapeutic support involving equines, small animals and the environment to enable each individual to thrive.
The Charity
Conquest Centre offers person centred mentoring to people in need of professional support for social, emotional, mental health, neurodiverse or physical reasons. Sessions involve nature and therapy animals and can be one-to-one or in groups depending on individual need. Clients and students come from a variety of routes including CAMHS, schools, private research, referrals and recommendations.
The Trustees are grateful to all those who actively support the charity and its’ operation; these include staff, volunteers, clients, students, donors, supporters and anyone who shares the social media posts to provide further engagement. This year saw a consolidation of the capital investments made during the previous year with new hosted services bedding in and for us all to work co-operatively and in support of each other.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Conquest Centre Limited Trustees' Report (continued)
The year in brief
The charity continued to deliver stable and consistent services throughout the year, with session numbers remaining at approximately 200 sessions per week. Conquest Centre continued to support local schools and other referral partners, with no significant changes to the core client groups served.
Services remained rooted in animal and nature-based therapeutic approaches, delivered in a trauma-informed and person-centred way.
Service delivery and activities
The charity continues to work with an increasing number of clients presenting with complex needs, including neurodiversity, severe anxiety, trauma, mental ill health and physical disabilities. For some young people, sessions are delivered on a two-to-one or three-to-one basis, reflecting the level of care, regulation and relational safety required. Trustees recognise that this intensive model is essential to achieving meaningful outcomes for those clients who are unable to engage in more traditional or group-based settings.
Animal-assisted activities remain central to service delivery, complemented by forest school, play-based, creative and physical activities. The addition of more sporting options, including rollerblading, basketball, table tennis, and swimming during the summer months, has enabled mentors to meet clients where they are, offering choice and flexibility while maintaining therapeutic intent. Disabled riding continues to be offered alongside therapeutic and equine-assisted activities, ensuring that services remain inclusive and responsive to a wide range of needs.
Outcomes for clients
Clients reported improvements in:
-
Confidence, communication and social interaction
-
Emotional regulation and reduced anxiety
-
Physical strength, balance and coordination
-
Sense of belonging, connection and safety
-
Life skills, independence and readiness for learning
Families and referrers also highlighted the importance of our emotionally available, predictable staff support and the positive effect of one-to-one sessions on client engagement and mental wellbeing.
Staff, training and welfare
Staff retention during the year remained good, which Trustees view as a key strength given the emotionally demanding nature of the work. While there were no remarkable staffing changes, the appointment of a new Finance Manager has supported the charity’s continued growth by strengthening financial controls, systems and reporting.
Staff welfare continues to be treated as a priority. Formal and informal supervision remains in place, with supervision mandatory for mentors. Investment in training and professional development continued, ensuring staff are well equipped to deliver high-quality, safe and trauma-informed services.
Page 3
Conquest Centre Limited Trustees' Report (continued)
Trustees recognise that the emotionally intensive nature of the charity’s work makes staff wellbeing essential to service quality and sustainability. Alongside formal supervision and training, management intentionally fosters a supportive and positive team culture. Staff days out, shared celebrations and the annual Christmas party provide important opportunities for connection, reflection and enjoyment, helping to sustain morale and strengthen relationships within the team. Trustees view this investment in staff wellbeing not as an optional extra, but as a necessary component of delivering safe, compassionate and effective services.
Animals and welfare
Animal welfare remains one of the charity’s most deeply embedded values and is integral to both service delivery and learning outcomes. The charity does not view animals simply as a therapeutic resource, but as sentient beings whose individual needs, preferences and wellbeing must be understood and respected.
Mentors actively use animal welfare as a core element of experiential learning, supporting clients to recognise signs of stress, comfort, trust and regulation in animals. Clients learn how their own behaviour, energy and communication can help animals feel safe and well, and are encouraged to reflect on how these same principles can be mirrored in caring for themselves and others. This approach helps clients develop empathy, self-awareness, emotional regulation and responsibility in a natural and meaningful way. Trustees strongly support this ethos and continue to prioritise investment in animal care, training and facilities. As a result, the retention and wellbeing of the Conquest animal team remains excellent.
There was some routine turnover in horses and chickens during the year, which was managed carefully to ensure continuity of care and service delivery.
Facilities and systems
Investments and refurbishments to improve staff and client spaces continued as outlined previously, ensuring that available space is used as effectively as possible. Trustees remain focused on making best use of the site to provide calm, flexible and purposeful environments for clients.
Structure, governance and management
Nature of governing document
The charitable company is a company limited by guarantee, incorporated on 22 March 2004. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
The charity's object is to benefit the health and well-being of the disabled community by providing them with the opportunity to take part in horse related activities.
Page 4
Conquest Centre Limited Trustees' Report (continued)
Recruitment and appointment of trustees
Trustees are appointed in line with the governing document. Recruitment focuses on ensuring a diverse range of skills relevant to the strategic needs of the charity. All new trustees receive an induction that includes Charity Commission guidance, safeguarding responsibilities and awareness of our trauma-informed practice.
During the year, two new Trustees were appointed to the Board:
• Susan Fender, an experienced Chartered Accountant who joined as Treasurer
• Tom MacConnell, a consultant cardiologist who joined as a generalist Trustee and has taken on responsibility for safeguarding oversight.
These appointments have strengthened the Board’s skills and governance capacity, particularly in financial oversight and safeguarding assurance.
Financial review
The charity generated a surplus of £56,297 (2024: £222,831).
Total income for the year decreased by £25,063 from £802,307 to £777,244. The majority of the income is from therapeutic horse and animal based activities which decreased from £701,463 to £683,270. Other income sources are donations and gifts which increased from £75,955 to £83,281.
Costs continue to be kept under close scrutiny and control. There was an overall increase of £141,471 mainly due to investment in staff and staff training; after recharging staff, horse and premises costs, totalling £13,183 (2024: £14,708) to the trading subsidiary.
The continuing programme of significant expenditure on facilities at the Conquest Centre site utilised a large part of the surplus. Cash at bank and in hand increased from £499,508 to £824,267 over the year offset by a reduction in debtors.
At 31 July 2025 the total unrestricted reserves freely available to spend on any of the charity's purposes amounted to £682,189 (2024: £557,505). This figure excludes tangible fixed assets held for the charity use, fixed asset investments, stock of horses and ponies, designated funds and restricted funds.
The free reserves are slightly below the 2025 total expenditure cost, however, this included substantial expenditure on improvements to facilities in the year. There are also £173,872 (2024: £198,296) of designated funds set aside by the trustees for future development. The trustees therefore consider free reserves are adequate for the charities needs.
Page 5
Conquest Centre Limited Trustees' Report (continued)
Funded projects and restricted funds
During the year, the charity received funding for four restricted projects:
• Horseshoes and Handprints Part-funded sessions for young people up to age 18 or 25 with an EHCP (Education, Health and Care Plan) from Somerset, East Devon and North Dorset. This project ensures access to specialist mentoring, animal and nature-based therapeutic sessions, and other activities tailored to individual needs.
• Equine - Assisted Counselling and Psychotherapy for parents, previously funded by Hinkley Point C via Somerset Community Foundation. This three-year project has now concluded, but funding from the Halma Impact for the Future Fund allows the charity to continue offering free counselling to parents. This partnership provides not only financial support, but also practical and reciprocal engagement with a local Halma company.
• Moose International - A fund to kit out our new Play Therapy Room
• Co-op Green Fund - A fund to replace trees in our orchard area.
Trustees are extremely grateful to all funders and donors, including long-term supporters, for enabling the charity to sustain and expand services.
Policy on reserves
The trustees have examined the charity's requirements for free reserves (total reserves less tangible fixed assets, fixed asset investments, stock of horses and ponies, designated funds and restricted funds) in light of the main risks to the Organisation. Post year end the Board agreed a new policy to hold free reserves in the target range of £300,000 to £350,000 based on approximately 6 months of costs. These free reserves would cover any unexpected costs or a reduction in income. The Board also agreed that the Designated Fund would be repurposed and used for the costs of relocation of the charity to a new site in the next 5 years when the current lease expires. Any free reserves in excess of this range would be transferred annually to Designated Funds at year end.
Surplus funds are now invested with the CAF Charity Deposit Platform at Flagstone to maximise interest income. Maturity dates are spread between 30 days and 6 months which enables easy access to funds.
The bulk of funds are used to support the charity's principal objectives.
Principal risks and uncertainties
Key risks include financial pressures, workforce availability, rising demand, animal-related risks, and the long-term challenge of securing a suitable new site within the next five years as the current lease expires. Trustees continue to monitor these risk areas closely.
Page 6
Conquest Centre Limited Trustees' Report (continued)
Looking ahead: priorities for 2025-26
Trustees have identified the following key priorities for the coming year:
• Maximising use of the current site, ensuring all spaces are used effectively to support high-quality service delivery
-
Continued investment in staff training, wellbeing and retention, recognising the importance of a skilled
-
and supported workforce
• Maintaining high standards of governance, safeguarding and financial management as the charity continues to grow
- Continuing to strengthen trauma-informed practice and reflective supervision.
• Commence planning for the charity's future relocation.
Trustees remain committed to ensuring Conquest Centre continues to deliver compassionate, high-quality, person-centred services that meet the needs of the local community.
• Enhancing data capture and evaluation to demonstrate outcomes more clearly.
-
Expanding co-production with clients, carers and families.
-
Planning for the charity’s future relocation and exploring potential sites and funding options.
• Building organisational resilience and strengthening reserves.
Trustees remain committed to ensuring Conquest Centre continues to deliver compassionate, high-quality, person-centred services that meet the needs of the local community.
Page 7
Conquest Centre Limited Trustees' Report (continued)
Statement of trustees' responsibilities
The trustees (who are also the directors of Conquest Centre Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity at a board meeting on 21 April 2026 and signed on its behalf by:
......................................... ( & \ Susan Fender Trustee
Page 8
Conquest Centre Limited Independent Examiner's Report to the trustees of Conquest Centre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025, which are set out on pages 10 to 27.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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:
-
accounting records were not kept in respect of Conquest Centre Limited as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those accounting records; or
-
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
-
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.
...................................... Sarah Twist FCA DChA A C Mole LLP Stafford House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Date:.............................
Page 9
Conquest Centre Limited Statement of Financial Activities for the Period from 1 July 2024 to 31 July 2025 (Including Income and Expenditure Account)
| Note Income Donations, grants and legacies 3 Charitable activities 4 Investment income 5 Other income Total income Expenditure Raising funds 6 Charitable activities 7 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 67,281 679,096 10,308 385 757,070 (14,554) (639,825) (654,379) 102,691 27,598 130,289 1,295,597 1,425,886 |
Designated funds £ - - - - - - (13,024) (13,024) (13,024) (11,400) (24,424) 198,296 173,872 |
Restricted funds £ 16,000 4,174 - - 20,174 - (53,544) (53,544) (33,370) (16,198) (49,568) 52,590 3,022 |
Total 2025 £ 83,281 683,270 10,308 385 |
|---|---|---|---|---|
| 777,244 | ||||
| (14,554) (706,393) |
||||
| (720,947) | ||||
| 56,297 - |
||||
| 56,297 1,546,483 |
||||
| 1,602,780 |
The notes on pages 13 to 27 form an integral part of these financial statements. Page 10
Conquest Centre Limited Statement of Financial Activities for the Period from 1 July 2024 to 31 July 2025 (continued) (Including Income and Expenditure Account)
| Note Income Donations, grants and legacies 3 Charitable activities 4 Investment income 5 Other income Total income Expenditure Raising funds 6 Charitable activities 7 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 73,993 683,812 8,292 981 767,078 (11,412) (511,482) (522,894) 244,184 244,184 1,051,413 1,295,597 |
Designated funds £ - - - - - - (17,304) (17,304) (17,304) (17,304) 215,600 198,296 |
Restricted funds £ 1,962 33,267 - - 35,229 - (39,278) (39,278) (4,049) (4,049) 56,639 52,590 |
Total 2024 £ 75,955 717,079 8,292 981 |
|---|---|---|---|---|
| 802,307 | ||||
| (11,412) (568,064) |
||||
| (579,476) | ||||
| 222,831 | ||||
| 222,831 1,323,652 |
||||
| 1,546,483 |
The notes on pages 13 to 27 form an integral part of these financial statements. Page 11
Conquest Centre Limited (Registration number: 5079915) Balance Sheet as at 31 July 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 13 | 737,693 | 732,941 |
| Investments | 14 | 1 | 1 |
| 737,694 | 732,942 | ||
| Current assets | |||
| Stocks | 15 | 6,003 | 5,150 |
| Debtors | 16 | 56,500 | 318,359 |
| Cash at bank and in hand | 824,267 | 499,508 | |
| 886,770 | 823,017 | ||
| Creditors: Amounts falling due within one year | 17 | (21,684) | (9,476) |
| Net current assets | 865,086 | 813,541 | |
| Net assets | 1,602,780 | 1,546,483 | |
| Unrestricted funds | 1,425,886 | 1,295,597 | |
| Designated funds | 173,872 | 198,296 | |
| Restricted funds | 3,022 | 52,590 | |
| Total funds | 18 | 1,602,780 | 1,546,483 |
For the financial period ending 31 July 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the period in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 10 to 27 were approved by the trustees, and authorised for issue on 21 April 2026 at a board meeting and signed on their behalf by:
.........................................
Susan Fender Trustee
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 13 to 27 form an integral part of these financial statements. Page 12
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Conquest Centre Conquest Farm Norton Fitzwarren Taunton Somerset TA2 6PN
2 Accounting policies
Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation and statement of compliance
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless stated otherwise within these notes. The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Conquest Centre Limited meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Disclosure of long or short period
These accounts show the results for the period 1 July 2024 to 31 July 2025. The comparative figures show the results for 1 July 2023 to 30 June 2024.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 13
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
2 Accounting policies (continued)
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when administrator/executor for the estate has communicated in writing both the amount and settlement date. In the extent that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Donated services and facilities
Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 14
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
2 Accounting policies (continued)
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is a registered charity and is, therefore, exempt from liability to taxation on it's income and capital gains, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Tangible fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Land and buildings | 30 year straight line & 20 year straight line |
| Plant and equipment | 10% reducing balance |
| Computer equipment | 3 year straight line |
| Motor vehicles | 20% reducing balance |
Fixed asset investments
Investments in subsidiary undertakings are included in the balance sheet at cost less impairment.
Stock
Stock including stock of horses and ponies is valued at the lower of cost and net realisable value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Page 15
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
2 Accounting policies (continued)
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
The charity only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors together with loans to related parties. Debt instruments, such as trade debtors and creditors, are initially measured at transaction price and subsequently measured at amortised cost.
Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.
Volunteered services
The charity benefits greatly from the involvement and support of it's many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102) the economic contribution of general volunteers is not recognised in the accounts.
Critical accounting judgements and estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income, and expenses.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The Trustees consider that there are no critical accounting estimates and judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Basis of consolidation
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking Conquest Equestrian Centre Limited, comprise a small sized group. The company has therefore taken advantage of the exemptions provided by the Charities SORP (FRS102) and the Companies Act for small groups and consolidated accounts are not prepared.
Page 16
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
3 Income from donations and legacies
| Donations and gifts Grant income Distributions from trading subsidiary under Gift Aid Total for period ended 31 July 2025 Donations and gifts Grant income Distributions from trading subsidiary under Gift Aid Total for period ended 30 June 2024 4 Income from charitable activities Therapeutic riding Other therapeutic horse & animal based activities Total for period ended 31 July 2025 Therapeutic riding Other therapeutic horse & animal based activities Total for period ended 30 June 2024 5 Investment income Interest receivable Total for period ended 31 July 2025 Interest receivable Total for period ended 30 June 2024 |
Unrestricted funds £ 11,869 - 55,412 67,281 13,772 - 60,221 73,993 Unrestricted funds £ - 679,096 679,096 15,616 668,196 683,812 Unrestricted funds £ 10,308 10,308 8,292 8,292 |
Restricted funds £ 16,000 - - 16,000 - 1,962 - 1,962 Restricted funds £ - 4,174 4,174 - 33,267 33,267 Restricted funds £ - - - - |
Total funds £ 27,869 - 55,412 |
|---|---|---|---|
| 83,281 | |||
| 13,772 1,962 60,221 |
|||
| 75,955 | |||
| Total funds £ - 683,270 |
|||
| 683,270 | |||
| 15,616 701,463 |
|||
| 717,079 | |||
| Total funds £ 10,308 |
|||
| 10,308 | |||
| 8,292 | |||
| 8,292 |
Page 17
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
6 Expenditure on raising funds
Fundraising and publicity
| Staff costs Total for period ended 31 July 2025 Staff costs Total for period ended 30 June 2024 |
Unrestricted funds £ 14,554 14,554 11,412 11,412 |
Restricted funds £ - - - - |
Total funds £ 14,554 |
|---|---|---|---|
| 14,554 | |||
| 11,412 | |||
| 11,412 |
Page 18
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
7 Expenditure on charitable activities
| Staff costs Depreciation and impairment Instructors Feed & bedding Other horse costs Veterinary and farrier Staff training Travel and subsistence Miscellaneous expenses Repairs and maintenance of land and buildings Rent and utilities Insurance Bad debts Website Less: costs recharged to subsidiary undertaking Other charitable expenditure Advertising Share of support costs (see note 9) Share of governance costs (see note 9) Analysis by fund Unrestricted funds Restricted funds Designated funds |
2025 £ 357,599 48,812 705 13,325 6,272 13,511 20,665 6,452 5,054 22,446 53,692 13,743 6,058 12,689 (8,641) 69,803 983 643,168 60,128 3,097 706,393 639,825 53,544 13,024 706,393 |
2024 £ 261,558 41,924 1,900 16,352 3,594 7,648 17,092 11,487 2,486 55,656 46,317 9,498 713 - (10,874) 51,219 2,750 |
|---|---|---|
| 519,320 43,665 5,079 |
||
| 568,064 | ||
| 511,482 39,278 17,304 |
||
| 568,064 |
Page 19
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
8 Support costs
| Support costs Administrator staff cost 31,002 Print, post & stationery 3,059 IT & telephone 19,657 Bookkeeping 4,496 Bank charges & interest 136 Cleaning & waste disposal 4,372 Subscriptions 1,948 Less: costs recharged to subsidiary (4,542) Legal and professional - Independent examiners fee - 60,128 Analysed between charitable activities 60,128 Support costs Administrator staff cost 21,232 Print, post & stationery 2,694 IT & telephone 15,350 Bookkeeping 1,439 Bank charges & interest 162 Cleaning & waste disposal 3,932 Subscriptions 2,690 Less: costs recharged to subsidiary (3,834) Legal and professional - Independent examiners fee - 43,665 Analysed between charitable activities 43,665 |
Governance costs - - - - - - - - - 3,097 3,097 3,097 Governance costs - - - - - - - - 1,934 3,145 5,079 5,079 |
2025 £ 31,002 3,059 19,657 4,496 136 4,372 1,948 (4,542) - 3,097 |
|---|---|---|
| 63,225 | ||
| 63,225 | ||
| 2024 £ 21,232 2,694 15,350 1,439 162 3,932 2,690 (3,834) 1,934 3,145 |
||
| 48,744 | ||
| 48,744 |
Page 20
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
9 Net income/(expenditure)
Net movement in funds is stated after charging/(crediting):
| Depreciation of fixed assets Loss on disposal of tangible fixed assets Independent examiners fee |
2025 £ 48,087 1,794 3,097 |
2024 £ 41,924 - 3,145 |
|---|---|---|
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration or expenses from the charity during the year. (2024: None).
11 Employees
The average monthly number of employees during the year was 27 (2024: 24)
| Wages and salaries Employers NIC Employers Pension |
2025 £ 384,998 12,104 6,056 403,158 |
2024 £ 283,527 7,091 3,585 |
|---|---|---|
| 294,203 |
There were no employees whose annual remuneration was more than £60,000 (2024: None)
12 Taxation
The charity is a registered charity and is therefore exempt from taxation on its income and capital gains, to the extent that they are applied for charitable purposes.
Page 21
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
13 Tangible fixed assets
| Cost At 1 July 2024 Additions Disposals At 31 July 2025 Depreciation At 1 July 2024 Charge for the year Eliminated on disposals At 31 July 2025 Net book value At 31 July 2025 At 30 June 2024 |
Land and buildings £ 706,388 23,635 - 730,023 72,668 29,139 - 101,807 628,216 633,720 |
Plant and equipment £ 117,145 24,228 - 141,373 54,011 8,684 - 62,695 78,678 63,134 |
Computer equipment £ 16,341 5,496 - 21,837 12,196 4,258 - 16,454 5,383 4,145 |
Motor vehicles £ 36,545 2,000 (2,900) 35,645 4,603 6,732 (1,106) 10,229 25,416 31,942 |
Total £ 876,419 55,359 (2,900) |
|---|---|---|---|---|---|
| 928,878 | |||||
| 143,478 48,813 (1,106) |
|||||
| 191,185 | |||||
| 737,693 | |||||
| 732,941 |
14 Fixed asset investments
| 14 Fixed asset investments | |
|---|---|
| 2025 £ Investment in subsidiary 1 Details of undertakings Details of the charity's subsidiaries are as follows: Undertaking Country of incorporation Holding Proportion of voting rights and shares held 2025 2024 The Conquest Equestrian Centre Limited England & Wales Ordinary £1 100% 100% |
2024 £ 1 |
| Principal activity The hire of facilities and provision of livery services. |
Page 22
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
14 Fixed asset investments (continued)
The profit for the financial period of the Conquest Equestrian Centre Limited was £40,969 (2024 - £55,412) and the aggregate amount of capital and reserves at the end of the period was £40,589 (2024 - £55,032).
15 Stock
| Stock of horses and ponies | 2025 £ 6,003 |
2024 £ 5,150 |
|---|---|---|
Stock comprises horses and ponies used for riding and other charitable activities.
16 Debtors
| Trade debtors Prepayments Accrued income Other debtors Amounts owed by subsidiary undertaking |
2025 £ 31,244 7,486 2,944 1,556 13,270 56,500 |
2024 £ 231,806 526 71,319 - 14,708 |
|---|---|---|
| 318,359 |
17 Creditors: amounts falling due within one year
| 17 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2025 £ 11,606 3,394 1,566 5,118 21,684 |
2024 £ 1,737 3,501 - 4,238 |
| 9,476 |
Page 23
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
18 Funds
| Unrestricted funds Unrestricted funds Designated Future development Total unrestricted funds Restricted funds Horse costs Hinkley Point C We've Got This Horseshoes and handprints Moose International Total funds |
Balance at 1 July 2024 £ 1,295,597 198,296 1,493,893 1,962 43,997 6,631 - - 52,590 1,546,483 |
Income £ 757,070 - 757,070 - - 3,174 1,000 16,000 20,174 777,244 |
Expenditure £ (654,379) (13,024) (667,403) (1,962) (41,777) (9,805) - - (53,544) (720,947) |
Transfers £ 27,598 (11,400) 16,198 - - - (198) (16,000) (16,198) - |
Balance at 31 July 2025 £ 1,425,886 173,872 |
|---|---|---|---|---|---|
| 1,599,758 | |||||
| - 2,220 - 802 - |
|||||
| 3,022 | |||||
| 1,602,780 |
Page 24
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
18 Funds (continued)
| Unrestricted funds Unrestricted funds Designated Future development Total unrestricted funds Restricted funds Horse costs Hinkley Point C We've Got This Total funds |
Balance at 1 July 2023 £ 1,051,413 215,600 1,267,013 - 50,147 6,492 56,639 1,323,652 |
Income £ 767,078 - 767,078 1,962 14,000 19,267 35,229 802,307 |
Expenditure £ (522,894) (17,304) (540,198) - (20,150) (19,128) (39,278) (579,476) |
Transfers £ - - - - - - - - |
Balance at 30 June 2024 £ 1,295,597 198,296 |
|---|---|---|---|---|---|
| 1,493,893 | |||||
| 1,962 43,997 6,631 |
|||||
| 52,590 | |||||
| 1,546,483 |
Restricted Funds
Where income received is restricted for specific capital expenditure which once acquired or spent is then available for the use of the charity in fulfilling its general charitable activities the value is transferred from restricted funds to unrestricted funds once expended as shown above. Prior to 1 July 2021 such funds continued to be recognised as restricted.
The specific purposes for which the funds are to be applied are as follows:
Horse costs fund is in relation to donations received specifically towards horse costs.
Hinkley Point C fund offers equine assisted counselling for parents and carers of children in therapy. Restricted to people who live in postcodes TA1, TA2, TA5, TA6, TA7 & TA9.
We've Got This fund is a peer mentoring project for young adults aged 16 to 25 years old funded by Open Mental Health and administered by Rethink Mental Illness and Somerset Activity and Sports Partnership.
Horseshoes and handprints– part-funded sessions for young people up to age 18 or 25 with an EHCP (Education, Health and Care Plan) from Somerset, East Devon and North Dorset. This project ensures access to specialist mentoring, animal and nature-based therapeutic sessions, and other activities tailored to individual needs.
Moose International – A fund to kit out our new Play Therapy Room.
Page 25
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
18 Funds (continued)
Designated Funds
Trustees had previously allocated designated funds for future projects covering:
New website Top car park resurface Mechanical horse & hoist Permanent on-site signage Stainless steel slide Security cameras Outside track New horses Cabin painting and improvements Guinea pig run Vehicle Match funding Premises improvements
At the year end, there was a balance remaining of £173,872 (2024 - £198,296) in this fund.
The Board agreed post year end that the Designated Fund would be repurposed and used for the costs of relocation of the charity to a new site in the next 5 years when the current lease expires. Any free reserves in excess of the target range of £300,000 to £350,000 will be transferred annually to the Designated Fund at year end. This will be reflected in next years Annual report and Financial Statements as only agreed post year end. This will enable the charity to raise funds specifically for the cost of moving to a new site.
Transfers
During the period, there was a transfer of £11,400 from the designated fund to the unrestricted fund. This transfer represents the transfer of the signage fixed assets purchased during the period.
A transfer of £198 from the Horseshoes and Handprints fund represents previously unrecognised expenditure on this project.
Following the purchase of the Moose Playroom equipment, the restriction has been fulfilled and the assets purchased with a value of £16,000 have been transferred from the restricted fund to unrestricted funds.
Page 26
Conquest Centre Limited Notes to the Financial Statements for the Period from 1 July 2024 to 31 July 2025 (continued)
19 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 737,693 - 1 - 709,876 173,872 (21,684) - 1,425,886 173,872 Unrestricted funds General £ Designated £ 732,941 - 1 - 572,131 198,296 (9,476) - 1,295,597 198,296 |
Restricted funds £ - - 3,022 - 3,022 Restricted funds £ - - 52,590 - 52,590 |
Total funds at 31 July 2025 £ 737,693 1 886,770 (21,684) |
|---|---|---|---|
| 1,602,780 | |||
| Total funds at 30 June 2024 £ 732,941 1 823,017 (9,476) |
|||
| 1,546,483 |
20 Related party transactions
There were no related party transactions in the period (2024: None).
Page 27