Charity registration number 1104103 THANET DISABLED RIDING CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 THANET DISABLED RIDING CENTRE LEGALAND ADMINISTRATIVE INFORMATION Trusteès Ms C D Evans Ms J Lewis Ms M J Fuller Mr R K Evans Ms A J S8tterfield (Resigned) {R8Slgned) (Appointed 1 September 2023) {Appointed 1 July 2023) (Appoint8d 14 February 2024) (Appointed 14 February 2024) Mr R C Putney Mr T A Millard Ms D Hill Charlty number 1104103 Indopendent examlner Mark Hurdman FCA 3 Lloyd Road Broadstairs Kent CT10 1HY THANET DISABLED RIDING CENTRE CONTENTS Page Trustees, report Independent examiner's report Slatem8nt of financial aclivities Balance sheet Notes to the financial statements THANET DISABLED RIDING CENTRE TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The truslees pr8sent their annual report and financlal statements for the year ended 30 June 2024. The financial statements have been prepared in accordance with the accounting pollci8s set out in note 1 to the financial slatern8nts and comply with the charity's [governing docum8ntJ, the Charit18s Act 2011 and 'Accounting and Reporting by Charities.. Statement of R8¢omm8nd8d Practice applicab18 to charities pr8paring their accounts in accordance with the Financlal Reporting Standard applicabl8 in the UK and Rewblic of Ireland (FRS 102). (effective 1 January 2019). Objectlvos and actlvltlos Th8 center has been Nnning for over 30 years (although fomerfy known as the 'Thanel Riding for the Disabled A5so¢iation'). Th8 center is a self contained yard that in nonnal y8ars caters for approximately 40 disabled people per w8ek. Our philosophy is - If we hav8 a suitable horse. we will take the rider. W8 never discriminate, regardless of the rider disabilities. Achl•vement3 and p•rfomianc• Significant aclivities 8nd 8chiev8n￿ntS against obj8Ctives The trustee8 continu8 to achieve the objectives of the charity. Flnanclal rovlow During the p8rlod the Charity had a increas8 in net assets of over £30,000. The b81ance of funds at the y8ar end were in excess of £71,000 and the trustees will review the optimum position regarding these funds to further their objectives. Structur•i governance and managem•nt The riding proves to be extremely beneficial to chlldren with multiple leaming difficulties. The riding and participation in various games enab18S th8m to experience mulli-sensory activities. Th8 riding enab18S the children to deve5op in the following areas.. Social skills - Confidence Communication skills Numeracy Indep8ndence - Dexterity Riding abllity The riding is educational, therapeutic, recreational and most of all great fun for all Involved. It would b8 Impossible to run the centre without the help of our numerous volunteers (approx 22) who asslst in all of the lessonsltraining S8ssions. To enabl8 each child to rid8, tsyo helpers are required for18ading and side volking 8SSiStance. The trustees. report was approved by the Board of Trustees. Ms D Hill Trustee Date.. THANET DISABLED RIDING CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THANET DISABLED RIDING CENTRE I report lo the trustees on my examination of the financial statements of Thanet Disabled Riding Centre (the charity) for the year ended 30 June 2024. Responslbilities and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance wlth the requirements of the Charities Act 2011 (the 2011 Act). I report in respect ol my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn lo the fact Ihal the charity has prepared financial slatemenls in accordance with Accounting and Reporting by Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as requlred by section 130 of the 2011 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and contenl ol accounts set out in the Charities {Accounls and Reports) Regulations 2008 other Ihan any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalSon to which attention sh e drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mark Hurdman FCA 3 Lloyd Road Broadstairs Kent CT10 1HY THANET DISABLED RIDING CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestrlcted Unr•strlcted funds funds 2024 2023 Notes Income from: Donations and18gaci8S Investrnents 139,818 1,248 48.728 153 Total Income 141,066 48,881 Expendltur• on: Charitable activities 104.084 75,239 Total expondltur• 104.084 75,239 Not Incom•l(•xpondlturo) and movement In funds 36.982 (26,3581 Roconclllatlon of funds: Fund balances at 1 July 2023 34,329 60,687 Fund balances at 30 Juno 2024 71,311 34,329 The statement of financial activities includes all gains and losses recognised in the year. All income and 8xpenditure derive from ¢ontinulng activities. THANET DISABLED RIDING CENTRE BALANCE SHEET ASAT30 JUNE 2024 2024 2023 Notos Current assets Cash at bank and in hand 71.765 34,783 Credltors: amounts falllng duo wilhln one year 10 (454) (454) N•t current a$$ots 71,311 34,329 Net assets exeludlng penslon Ilablllty 71,311 34,329 Th• funds of tho charlty Unrestricted funds 71,311 34,329 71,311 34,329 The financial statements W￿re approved by the trustees on Ms D Hill Trust00 THANET DISABLED RIDING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting pollcies Charlty Inforn￿tIOn The charity is a public benefit entity and a registered charity in England and Wales and is unlncorporated. The address of the principal office is Grounds of Maurice House, Callis Court Road, Broadstairs. Kent. CT10 3AH. 1.1 Accountlng ¢onv•ntlon The financial Statements have been pr8pared in accordanc8 with the Charities Act 2011. FRS 102 'The Financial R8POrting Standard applicable in the UK and Republic of Ireland. I'FRS 102") and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ¢hariti88 pr8paring their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 20191. Th8 charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charitie8 not to prepare a Statement of Cash Flows. The financial ststements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recomm8nded Practice for charities applying FRS 102 rather than th8 version of the Statemenl of Recommended Practice which is referred to in the Regulations but which has sinc8 been withdrawn. The financial statements are prepared In steding, which Is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the n8ar8sl £. The fin8nciel statements have been prepared under the historical Cost convenllon, Imodified to include the revaluation of freehold properties and to include investment propert18s and certain financial instruments at fair value). The principal accounting policies adopted are set out below. 1.2 Golng ¢oncorn At the tim8 of approving th8 financial statements, th8 twstees have a reasonabl8 expectation that the charity has adequale r8sour¢es to continue in operational exist8nce for the foreseeable future. Thus the truste8S continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charltablo funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may b8 used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are sublect to SP8ciffic conditions by donors that the capitsl rnu5t be maintained by the charity. 1.4 Incomo Income is recognis8d when the charity is legally entitled to it after any perfomiance conditions have been mel, the amounts ¢an be measured reliably, and it is probable that income will be r8ceived. Cash donations are recognised on receipt. Other donations are recognis8d once the charity has b88n notified of the donation, unless perfomiance conditions requi￿ deferral of the amount. Income tax recoverable in relation to donations r8ceived under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and rec&ipt is expected. If the amount is not known. the legacy is treated as a contingent asset. THANET DISABLED RIDING CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting pollcies {Contlnuedl 1.5 Expendlturo Expenditure is recognis8d once th8re is a legal or constnJctlV8 obligation to transf8r 8conomic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure Is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, Including support costs involved in undertaking each activity. Dir8Ct costs attributable to a sing18 acts'vity are allocated diredy lo that activlty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportion8d between those activities on a basis consistent with the us8 of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Cash and cash •qulval•nts Cash and cash equivalents include cash In hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Baslc Ilnanclal assets Basic financial assets, which Include debtors and cash and bank balances, are initially m8asured al transactlon price including transactlon costs and are sub58quenlly carried at amortised cost using the effedive interest method un18ss the arrangement ¢onstitut8s a financing transaction, where the transaction is measured at the pres8nt valu8 of the future receipts discounted at 8 market rate of interest. FinancAal assets classified as receivable within on8 year are not amortised. Baslc fin•nclal Ilabllltles Basic financial liabilities, including creditors and bank loans are Initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debl instrument is MeaSu￿d at the present value of the future paymenls discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effectlV8 interest rate method. Trade creditors are obllgallons to pay for goods or servi￿5 that have been acquired in the ordinary ¢ours8 of operations from suppliers. Amounts payable are classified as current liabilities If payment is due within one year or less. If nol, they are presented as non-curr8nl liabilities. Trade creditors are recognised inilially at transaction price and subsequently measured at amortised cost uslng the effective interest method. Oerecoqnltlon of flnanclal Il•bllities Flnancial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cance118d. 1.7 Employee benofits The cost of any unused holiday entitlement is rocognised in the period in which the employee's services are r8ceiv8d. Termination benefits are recognised immediately as an exp8nse when the charity is demonstrably committed to tenninate the employment of an employee or to provide termination benefits. THANET DISABLED RIDING CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Crttl¢al a¢¢ountlng estlmates and judgements In Ihe application of the charity's accounting policies, the trustees are required to make judg8m8nts. estimates and assumplions about the carrying amount of assets and liabilitl8S that are not r8adily apparent from other sources. The estimates and associaled assumptions are based on historical experi8nc8 and other factors that are considered to be r818vant. Actual results may differ from these estimates. The estimales and undertyrng assumptions are reviewed on an ongoing basls. Revisions to accounting estimates are recognised in the period in which the estimate is revised where th8 revision affecis only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and logacl•s Unr•slrlcted funds 2024 Unrestrlctod funds 2023 Donations and gifts Donated goods and serrfices 125,630 14,188 35,373 13,355 139,818 48.728 Incom• from Inv•stments Unr•strlctod Unr•strlcted funds funds 2024 2023 Interest receivable 1,248 153 THANET DISABLED RIDING CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expgnditure on charltsble actlvitles Exp8ns•s 2024 Exponses 2023 Dlro¢t costs HonoraTia and wages Rent Rates and water Light and h8at Equipment and fabric Insurance and British Horse Society Inspections Training costs Telephone Vet Hay, straw, feed & shavings Stables consumables Other charitable expenditure 50.896 1.062 597 1,061 23,832 5,740 44,578 125 409 834 8.238 4,360 110 367 4,429 5,189 6,600 385 4,354 5,532 6,626 4,000 104.084 75,239 Analysls by fund Unrestricted funds 104.084 75,239 Tru8l•es None of the Irustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 22 15 There were no employees whose annual remuneration was more than £60,000. Taxatlon The charity is exempt from taxation on its actrvitl8s because all its income is applied for charitable purposes. THANET DISABLED RIDING CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Loans and ov•rdrafts 2024 2023 Bank overdrafts 454 454 Payable within one year 454 454 10 Credltors: amounts falllng due within one yoar 2024 2023 Notes Bank overdrafts 454 454 11 Unrostrlcted funds The unrestricted funds of th8 charity comprise th8 unexpended balances of donation5 and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These in¢lud8 designat8d funds which have been sel aside oul of unrestricted funds by th8 truste88 for sp8cific purposes. At 1 July 2023 Incomlng Rosourcos rosourc•s ex￿nded At 30 June 2024 General funds 34,329 141,066 1104,0841 71,311 Pr•vlous year: At 1 July 2022 Incomlng Resources resourcos Oxpondod At 30 June 2023 General funds 60,687 48,881 (75.239) 34,329 12 Related party transactlon$ There were no disclosable related party transactions during the year (2023 - none).