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2025-10-31-accounts

The Fell Pony Society

(A company limited by guarantee)

Annual Report and Financial Statements

31 October 2025

Company registration number: 03233346 Charity registration number: 1104945

The Fell Pony Society

Contents

Reference and Administrative Details 1
Trustees' report 3
Trustees' responsibilities in relation to the financial statements 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9
The following does not form part of the statutory financial statements:
Detailed income and expenditure analysis 20

The Fell Pony Society

Reference and Administrative Details

Charity name

The Fell Pony Society

Charity registration number 1104945 Company registration number 03233346 Principal office Bank House Boroughgate APPLEBY-IN-WESTMORLAND CA16 6XF

Registered office

FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW

Trustees

P Boustead, Chairman P Metcalfe, Vice chairman (Appointed 5 April 2025) J E Greener (Resigned 16 September 2025) A W Bell R J Brunskill D Chadwick (Appointed 5 April 2025) S A Charlton (Resigned 5 April 2025) G M Cockbain (Resigned 5 April 2025) M R Goddard (Resigned 5 April 2025) J Grealish (Appointed 5 April 2025) T E Lloyd G H B Mallinson H G Mawrey C S Millard W S Potter J L Rawden C H Robinson C E Simpson A Thorpe K Turner E A Walker E J Whitley D Wilkinson

Page 1

The Fell Pony Society

Reference and Administrative Details

Secretaries

Accountant

K Wilkinson (Resigned 1 November 2025) B E Richardson (Appointed 1 November 2025)

Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW

Page 2

The Fell Pony Society

Trustees' Report for the Year Ended 31 October 2025

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011, as amended by the Charities Act 2022, and 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.

Structure, governance and management

The charity is controlled by its governing document, Memorandum and Articles of Association, a deed of trust and constitutes a limited company limited by guarantee, as defined by the Companies Act 2016.

The trustees have reviewed the major risks to which the charity is exposed and systems or procedures have been put in place to manage those risks.

Trustees recruitment and training

Trustees are appointed as per the Society’s Memorandum & Articles, 8.1 - 8.6.6, as follows –

Council consists of twenty members of the Society. Four members of the Council retire each year but are eligible for immediate re-election at the Annual General Meeting without further nomination. Members shall not be eligible for election to the Council unless they have been Voting Members of the Society for a period of at least five consecutive years.

Nominations for the Council shall be delivered to the Secretary on or before 1st January preceding the Annual General Meeting. Nomination forms will be supplied by the Secretary on request. Nomination forms must be signed by two members qualified to vote at the meeting (the proposer and seconder respectively) and the person proposed must sign the nomination form to signify his or her willingness to be appointed.

The person proposed shall include in the nomination form a statement not exceeding 250 words in support of his or her election. No written canvassing other than the statement in the nomination form shall be permitted.

Election to the Council shall be by way of secret postal vote as follows:

The proposer shall have responsibility for ensuring that the nomination is given to the Secretary on or before 1st January preceding the Annual General Meeting.

Ballot papers listing all validly nominated candidates shall be posted to all paid up members entitled to vote (paid their subscription on or before 15 February) at their addresses set out in the register of members not less than twenty one clear days before the date appointed for the Annual General Meeting.

Completed ballot papers shall be returned to the scrutineer appointed by the Council in a sealed envelope marked “Fell Pony Society Election of Council” to reach the scrutineer not less than ten days before the date appointed for the Annual General Meeting and it is the responsibility of members to ensure delivery. Non UK residents may return their ballot paper by facsimile or e-mail to the scrutineer.

Only correctly completed ballot papers shall be valid and no other form of vote will be accepted.

The validity of any ballot paper shall be determined by the scrutineer.

The result of the ballot shall be announced at the Annual General Meeting.

Newly elected trustees are issued with a Declaration of Eligibility and a Confidentiality Statement to read and sign.

New information sent to the Society by the Charity Commission is forwarded to all trustees.

Objectives and activities

The Fell Pony Society’s aim is to foster and keep pure the old breed of pony which has roamed the northern fells for years and to circulate knowledge and general information about the pony breed.

The Society’s principal activity during the year was acting as a Breed Society and Passport Issuing Office (approved by DEFRA), dealing with registration of ponies/issuing and updating of passports, applications for memberships, publishing a Stud Book and producing two magazines for the benefit of members. The magazine provides a wealth of information about the administration of the Society, news and reports on events held and forthcoming events, merchandise available to purchase and awards presented.

Page 3

The Fell Pony Society

Trustees' Report for the Year Ended 31 October 2025

In determining these objectives and activities the Trustees have paid due regard to the Charity Commission guidance on public benefit.

Achievements and performance

The overall number of members was slightly less than in 2024, a reflection of ongoing cost of living crisis. Although membership was lower Subscription income showed an increase following the membership rate increase in January 2025, this helped cover the increasing operating costs.

Society Breed Shows were well supported in 2025 by both exhibitors as well as spectators. There is new and continued interest in the Fell Pony, which is pleasing to see. The overseas interest in Fell Pony continues to develop across many different countries spreading the word as to how versatile the breed is.

Fell pony society Display Team had various exhibitions throughout the summer, educating audiences of the general public at country events, giving Fell Ponies a public presence at country shows by performing musical rides and pageants with commentary.

Learning with fells events held in 2025 included educational visits to studs open to members who can learn all aspects of breeding, handling and seeing ponies being kept in their natural environment.

The Probationary judges scheme advanced the current probationary judges through the societies scheme, progressing individuals onto the breed panel following annual reviews of their knowledge and application of the breed standard.

Members of the Society have access to the Grassroots registry which gives access to the Society’s pedigree database. An additional feature has been added called Check Mate which creates a simple ‘What If’ pedigree with common ancestors highlighted.

The Annual sale held in October has a great number of attendees, attracting interest from UK and International buyers. The prices at the sale were not as high as previous, the increasing costs of keeping ponies especially due to the severe hay shortage in many regions and economic pressures may have hindered prices.

The Society is looking forward to working to promote the Fell Pony in the coming year and supporting members for a successful 2026.

Financial review

See analysis following report and statements.

The trustees have reviewed the reserves of the Charity. This review encompassed the nature of the Society’s continued commitments and future growth.

The review concluded that to allow the Charity to be managed efficiently and to provide a buffer for uninterrupted services, a general reserve equivalent to approximately 75% or 9 months of fund expenditure should be maintained.

The total unrestricted reserves held by the charity at 31 October 2025 were £199,614 with free reserves of £186,439 which exceeds the current reserves policy.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 13 January 2026 and signed on its behalf by:

......................................... ......................................... P Boustead P Metcalfe Trustee Trustee

Page 4

The Fell Pony Society

Trustees' Responsibilities in relation to the Financial Statements

The trustees (who are also directors of The Fell Pony Society for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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.

Page 5

Independent Examiner's Report to the Trustees of

The Fell Pony Society

I report on the accounts of the company for the year ended 31 October 2025, which are set out on pages 7 to 19.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 as amended by the Charities Act 2022 (the Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

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.........................................
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......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants

FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW

13 January 2026

Page 6

The Fell Pony Society

Statement of Financial Activities (including Income and Expenditure Account ) for the Year Ended 31 October 2025

Note
Income and endowments from:
Donations and legacies
2
Other trading activities
3
Investment income
4
Charitable activities
5
Total income and endowments
Expenditure on:
Charitable activities
Total expenditure
Net expenditure before transfers
Transfers
Transfers between funds
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
9,283
2,030
4,298
72,120		 Restricted
Funds
£
7,500
-
-
-		 Total Funds
2025
£
16,783
2,030
4,298
72,120		 Total Funds
2024
£
12,799
1,988
3,390
70,198
87,731 7,500 95,231 88,375
91,179 13,536 104,715 99,396
91,179 13,536 104,715 99,396
(3,448)
82,541		 (6,036)
(82,541)		 (9,484)
-		 (11,021)
-
79,093
120,521		 (88,577)
101,820		 (9,484)
222,341		 (11,021)
233,362
199,614 13,243 212,857 222,341

All of the Charity's activities derive from continuing operations during the above periods.

The notes on pages 9 to 19 form an integral part of these financial statements.

Page 7

The Fell Pony Society

Company registration number: 03233346

Balance Sheet as at 31 October 2025

Note
Fixed assets
Tangible assets
11
Current assets
Stocks and work in progress
Debtors
12
Cash at bank and in hand
Creditors: Amounts falling due within
one year
13
Net current assets
Net assets
The funds of the charity:
Restricted funds
Unrestricted funds
Unrestricted income funds
Total charity funds		 2025
£
£
13,175
5,359
3,054
198,022
206,435
(6,753)
199,682
212,857
13,243
199,614
212,857		 2024
£
£
13,185
6,677
3,251
207,037
216,965
(7,809)
209,156
222,341
101,820
120,521
222,341		 2024
£
£
13,185
6,677
3,251
207,037
216,965
(7,809)
209,156
222,341
101,820
120,521
222,341
222,341
101,820
120,521
222,341

For the financial year ended 31 October 2025, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 January 2026 and signed on its behalf by:

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.........................................
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......................................... ......................................... P Boustead P Metcalfe Trustee Trustee

The notes on pages 9 to 19 form an integral part of these financial statements.

Page 8

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

1 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.

Statement of compliance

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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

These financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

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.

Further details of each fund are disclosed in note 17.

Page 9

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

Income and endowments

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 the administor/executor for the estate has communicated in writing both the amount and settlement date. In the event 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 measured with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.

Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

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 its fair value unless its fair value cannot be realiably measured, then at cost to the donor or the resale value of the goods that are to be sold.

Investment income is recognised on a receivable basis.

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

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.

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 considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fixed assets

Individual fixed assets costing £100 or more are initially recorded at cost.

Page 10

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

Depreciation

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:

Equipment Trophies

25% reducing balance basis Not depreciated

The trophies are included at market value and as the residual value is likely to be at least equal to their cost, no depreciation has been charged on these assets.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.

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.

Liabilities

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term.

Page 11

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 Donations and legacies

Donations and legacies
Donations
Miscellaneous
Grants
Horserace betting levy board		 Unrestricted
Funds
£
9,283
-		 Restricted
Funds
£
-
-		 Total Funds
2025
£
9,283
-		 Total Funds
2024
£
4,784
15
9,283
-		 -
7,500		 9,283
7,500		 4,799
8,000
9,283 7,500 16,783 12,799

Of the donations and legacies income in 2024, £4,799 related to unrestricted funds and £8,000 related to restricted funds.

3 Other trading activities

Advertising and sponsorship Unrestricted
Funds
£
2,030		 Restricted
Funds
£
-		 Total Funds
2025
£
2,030		 Total Funds
2024
£
1,988

All of the other trading activites income in 2024 related to unrestricted funds.

Page 12

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

4 Investment income

Deposit account interest Unrestricted
Funds
£
4,298		 Restricted
Funds
£
-		 Total Funds
2025
£
4,298		 Total Funds
2024
£
3,390

All of the investment income in 2024 related to unrestricted funds.

5 Charitable activities

Subscriptions
Affiliation fees
AI permit
Miscellaneous
FIS income
Stud books and promotional merchandise
Shows and other events
Registration
Transfers
Stallion licences
DNA
Pony sales list
Duplicate passports
Prefix applications		 Unrestricted
Funds
£
35,030
437
50
801
2,510
6,079
8,253
6,075
7,870
2,755
1,205
80
530
445		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total Funds
2025
£
35,030
437
50
801
2,510
6,079
8,253
6,075
7,870
2,755
1,205
80
530
445		 Total Funds
2024
£
32,645
433
150
1,110
2,930
5,936
6,929
5,870
6,890
3,625
2,010
60
485
1,125
72,120 - 72,120 70,198

All of the income from charitable activities in 2024 related to unrestricted funds.

Page 13

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

6 Expenditure

Direct costs
Upkeep of fell pony
Shows and other events
Prizes - premiums (H.B.L.B)
Stud books and promotional merchandise
Staff costs
Affiliation fees
Prefix registrations
FIS expenses
DNA expenses
Honoraria
Support costs
Travelling
Insurance
Telephone
Office expenses
Computer expenses
Printing, stationery and equipment
Postage
Office rent
Trustee meeting venue hire
Accountancy fees
Independent examiner's fee
Legal and professional fees
Depreciation of equipment
(Profit)/loss on sale of tangible fixed assets held for charity's
own use		 Promoting
and running
the society
£
7,458
6,646
6,078
5,665
38,242
377
380
2,310
2,913
1,674		 Total
2025
£
7,458
6,646
6,078
5,665
38,242
377
380
2,310
2,913
1,674		 Total
2024
£
9,600
8,471
5,181
4,702
32,976
152
716
2,313
4,156
1,596
71,743 71,743 69,863
85
5,621
886
105
1,387
8,472
9,821
2,048
279
2,858
600
800
-
10		 85
5,621
886
105
1,387
8,472
9,821
2,048
279
2,858
600
800
-
10		 62
5,161
765
99
1,026
6,549
10,755
1,800
196
1,716
600
800
4
-
32,972 32,972 29,533
104,715 104,715 99,396

Of the expenditure in 2024, £84,615 related to unrestricted funds and £14,781 related to restricted funds.

Page 14

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

7 Governance costs

Accountancy fees
Independent examiner's fee
Trustee meeting venue hire
Legal and professional fees		 2025
£
2,858
600
279
800		 2024
£
1,716
600
196
800
4,537 3,312

8 Trustees' remuneration and expenses

During the year 1 trustee received a honorarium totalling £1,074 (2024 - £996).

9 Net expenditure

Net expenditure is stated after charging:

2025 2024
£ £
Loss/(profit) on disposal of tangible fixed assets 10 -
Depreciation of tangible fixed assets - 4

10 Employees' remuneration

The monthly average number of persons (including senior management) employed by the charity during the year was as follows:

Charitable activities
The aggregate payroll costs of these persons were as follows:
Wages and salaries		 2025
No.
4
2025
£
38,242		 2024
No.
4
2024
£
32,976

No employee received emoluments of more than £60,000 during the year (2024 - No. 0).

The key management personnel comprise the Trustees. The total employee benefits of the key management personnel of the Charity were £0 (2024 - £0).

Page 15

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

11 Tangible fixed assets

Cost
As at 1 November 2024
Disposals
As at 31 October 2025
Net book value
As at 31 October 2025
As at 31 October 2024		 Equipment
£
6,647
(6,647)
-
-
10		 Trophies
£
13,175
-
13,175
13,175
13,175		 Total
£
19,822
(6,647)
13,175
13,175
13,185

12 Debtors

Trade debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
-
3,054
3,054
2025
£
2,295
826
3,632
6,753		 2024
£
424
2,827
3,251
2024
£
4,793
340
2,676
7,809

13 Creditors: Amounts falling due within one year

14 Members' liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

Page 16

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

15 Operating lease commitments

As at 31 October 2025 the charity had total future minimum lease payments under non-cancellable operating leases as follows:

Within one year
Within two and five years		 Other
2025
£
2024
£
569
569
1,707
2,276
2,276
2,845		 Other
2025
£
2024
£
569
569
1,707
2,276
2,276
2,845
2,845

16 Related parties

Controlling entity

The charity is controlled by the trustees who are all directors of the company.

17 Analysis of funds

General Funds
General fund
Restricted Funds
Horserace Betting Levy
Board
Fell Pony Upkeep		 At 1
November
2024
£
120,521
11,821
89,999
101,820
222,341		 Incoming
resources
£
87,731
7,500
-
7,500
95,231		 Resources
expended
£
(91,179)
(6,078)
(7,458)
(13,536)
(104,715)		 Transfers
£
82,541
-
(82,541)
(82,541)
-		 At 31
October 2025
£
199,614
13,243
-
13,243
212,857

Horserace Betting Levy Board - grant received to cover prize expenditure and premiums payable.

Fell Pony Upkeep - legacy received for the upkeep of one fell pony. Following the death of the pony the remaining funds have been transferred to unrestricted.

Page 17

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

Prior period

General Funds
General fund
Restricted Funds
Horserace Betting Levy Board
Fell Pony Upkeep		 At 1
November
2023
£
124,761
9,002
99,599
108,601
233,362		 Incoming
resources
£
-
80,375
8,000
-
8,000
88,375		 Resources
expended
£
(84,615)
(5,181)
(9,600)
(14,781)
(99,396)		 At 31
October 2024
£
120,521
11,821
89,999
101,820
222,341

18 Transfers

The transfer of £82,541 to unrestricted relates to a leagacy received in 2018. The original purpose of the legacy was to contribute to the care of two fell ponies and on the death of the last of these fell ponies, the restricteion on the funds is lifted and the balance transferred to the charity's unrestricted funds to use towards its charitable purpose.

Page 18

The Fell Pony Society

Notes to the Financial Statements for the Year Ended 31 October 2025

......... continued

19 Net assets by fund

Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Net assets
Prior period
Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Net assets		 Unrestricted
Funds
£
13,175
193,192
(6,753)
199,614
Unrestricted
Funds
£
13,185
115,145
(7,809)
120,521		 Restricted
Funds
£
-
13,243
-
13,243
Restricted
Funds
£
-
101,820
-
101,820		 Total Funds
2025
£
13,175
206,435
(6,753)
212,857
Total Funds
2024
£
13,185
216,965
(7,809)
222,341		 Total Funds
2024
£
13,185
216,965
(7,809)
222,341
Total Funds
2023
£
13,189
227,052
(6,879)
233,362

Page 19

The Fell Pony Society

Detailed Income and Expenditure Analysis for the Year Ended 31 October 2025

Income
Donations
Advertising and sponsorship
Deposit account interest
Subscriptions
Affiliation fees
AI permit
Miscellaneous
FIS income
Stud books and promotional merchandise
Shows and other events
Registration
Transfers
Stallion licences
Horserace betting levy board
DNA
Pony sales list
Duplicate passports
Prefix applications
Expenditure
Upkeep of fell ponies
Shows and other events
Prizes - premiums (H.B.L.B)
Stud books and promotional merchandise
Staff costs
Affiliation fees
Prefix registrations
FIS expenses
DNA expenses
Honoraria
Insurance
Travelling
Telephone, office and computer expenses
Printing, stationery and equipment
Postage
Office rent
Trustee meeting venue hire
Accountancy and independent examiner's fee
Legal and professional fees
Depreciation of equipment
Loss on disposal of fixed assets		 2025
2024
£
£
9,283
4,784
2,030
1,988
4,298
3,390
35,030
32,645
437
433
50
150
801
1,125
2,510
2,930
6,079
5,936
8,253
6,929
6,075
5,870
7,870
6,890
2,755
3,625
7,500
8,000
1,205
2,010
80
60
530
485
445
1,125
95,231
88,375
7,458
9,600
6,646
8,471
6,078
5,181
5,665
4,702
38,242
32,976
377
152
380
716
2,310
2,313
2,913
4,156
1,674
1,596
5,621
5,161
85
62
2,378
2,090
8,472
6,549
9,821
10,755
2,048
1,800
279
196
3,458
2,316
800
800
-
4
10
-
104,715
99,396
(9,484)
(11,021)

This page does not form part of the statutory financial statements.

Page 20