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← Margaret Haes Riding Centre Ltd

2025-05-31-accounts

Charity Number: 1106437

Company Registration Number: 05139211

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

MARGARET HAES RIDING CENTRE LIMITED

CONTENTS

Page
Trustees’ report 2 – 9
Independent Examiner’s report 10
Statement of financial activities 11
Balance sheet 12-13
Notes to the financial statements 14 -20

1

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

A Year Working Closely with the Community

Everyone is welcome at Margaret Haes Riding Centre which is located in the beautiful countryside above Holcombe Village, Bury. Anyone from the age of 4 years can ride at the Centre and from the age of 13 years, can volunteer.

We bring the ‘Spirit of the Horse’ to some of the most vulnerable people, through our programmes of riding, equine care, and social connection.

All can experience the joy of being around horses. Being around horses is grounding, emotionally healing and uplifting. Horses bring a sense of peace and clarity. Experience that feeling of gentle movement and freedom.

Our purpose is to empower children and adults with learning disabilities, physical and mental health disabilities, and emotional and social challenges; to lead active, healthy and fulfilling lives through equestrian activities.

To have a positive impact on the health and well-being for all our riders and volunteers.

We offer lessons and ride outs from lead rein beginners through to more advanced lessons. All our riders are assessed on their riding ability as to which lessons or ride out they join. We continue to see 160 riders on a weekly basis and over 50% are those with a disability.

The charity is forever grateful to George Lomax, the founder of the GARL Foundation, who sadly died in February 2025. The GARL Foundation supported the charity to purchase the Riding Centre in March 2023 and continued its support with a grant towards running costs in this second year of ownership.

The Riding Centre’s year started with a Gelli printmaking course to mark the opening of the newly converted Studio. A few weeks later the Riding Centre hosted various local artists as part of Bury Festival of Art 2024 and welcomed many visitors including the Mayor.

Since then the Studio has been in use every week: a safe place for pupils on the British Horse Society (BHS) Changing Lives Through Horses Programme (CLTH), classroom for BHS First Aid and Ride Safe Courses, a base for Ramsbottom Explorer Scouts, Birthday Parties, village meetings and a warm space for parents and carers to enjoy the new viewing window to the Indoor Arena.

We offer nationally recognised equestrian qualifications and, through the BHS CLTH programme, alternative education provision aimed at those with additional needs and/or young people disengaged with school or college – developing life skills based on working with horses.

2

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

Following the CLTH Open Day at the Centre in September 2024, the programme has expanded with more sessions for local schools and is also now supporting young people who are home educated. Feedback has been extremely positive.

Success in securing ownership of the Riding Centre in March 2023 brought a new energy to the charity in the form of a restatement of purpose and a reaching out to the wider community. Our volunteers have supported many community events in the year including The Sunnywood Project’s Family Festival at Burrs Country Park, Clarence Park Family Fun Day, the Duck Race, Kokoro Festival of Health, Well Being and Spirit, and Christmas Markets in Ramsbottom.

This renewed energy has seen the Riding Centre succeed in applying for grants from various organisations in the year - GARL Foundation, Awards for All Lottery, Manchester Guardian Society, Bury VCFA and government funding through the Department of Culture Media and Sport (DCMS) for energy efficiency works.

The Riding Centre also had donations from Ramsbottom Rotary’s Charity Theatre event and Christmas Sleigh, JA & F Smith Animal Charity Fund and Crompton Halliwell, as well as other organisations.

PossAbilities CIC continues to provide substantial pro bono consultancy supporting the charity as well as donations.

The Centre is grateful to Whitecroft Lighting for the ‘state of the art’, new indoor arena lights including emergency lights, and lighting that is beneficial for those with autism.

Local radio stations Roach Valley Radio and 96.5 Bolton FM have been hugely supportive helping to promote what we do as a charity .

BHS Manchester Committee also funded a BHS Ride Safe training as assessment day course at the Riding Centre, which was wonderful to deliver.

A special mention to staff member Lindsey O’Reilly who entered the TCS London Marathon in April 2025, her first marathon! Lindsey raised substantial funds for the Riding Centre.

Our access on Moor Road was improved greatly with an incredible community effort involving a donation of stone from the local quarry run by Marshalls, help from National Trust Volunteers, Bury MBC Public Rights of Way Officer and contractors. Amazing result.

3

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

This is the second year we have hosted The Sunnywood Project’s Village Link Challenge as the first checkpoint on this 22 mile circular route around the villages of Bury. The Centre also ran a successful joint fundraiser with Sunnywood, ‘Holcombe Hoof’ covering a 10 mile route over the moors .

The incredible Illyria gave two performances this year, Romeo and Juliet and Wind in Willows. Huge success and thanks to the help of the community including help with stewards and donating raffle prizes.

There are many other examples of organisations working with us for the greater benefit of the local community.

The Riding Centre is a Highly Commended British Horse Society (BHS) Approved Centre and awarded a 5 star licence by Bury MBC. Training and upskilling staff and volunteers remains a priority. Several staff members and volunteers attained BHS Stage 1 qualifications in the year and now proceeding to complete BHS Stage 2. Well done.

The Riding Centre welcomed new horses Cilla and Friday, both weight carrying horses, and Ted found a new retirement home with one of our volunteers. As a BHS Approved Centre we were delighted to also offer a new home to Bailey, a lovely pony, as part of the BHS Second Chance scheme which runs in collaboration with the RSPCA. The Riding Centre is grateful to the JA &F Smith Charity Fund’s for the ongoing donations for the horses’ welfare. With the help of local Rotary groups; Bury, Radcliffe and Tottington and Bury West, the Riding Centre has purchased much needed saddles and bridles.

The Riding Centre remains volunteer led. In the year we welcomed new volunteers to the Management Committee. We rely on volunteers to run the Centre supporting the BHS Accredited Professional Coaches and Operations Staff. The Centre operates 7 days a week, including weekend, weekdays, evenings and most bank holidays.

Without volunteers the Riding Centre would not be able to operate. Supporting all our volunteers is very important part of our charitable objectives, especially young people keen to follow an equestrian or animal welfare related career. This year all enjoyed a volunteer Christmas ride out and lunch, and we continue to explore how we can reward volunteers.

Our charitable purpose

The Trustees remain aware of the Charity Commission’s public benefit guidance, which informs everything we do, from making decisions to the overall running of the charity.

4

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

The main purpose of the Riding Centre is to enable people with disabilities to experience the enjoyment, challenge and a sense of achievement, through participation in equestrian activities in an inclusive and integrated environment.

Horses touch the lives of people, helping them to heal and to embrace the new and the possible. That’s the Spirit of the Horse. Through horses, we hope that children and adults with learning disabilities, physical and mental health disabilities, and emotional and social challenges; will be empowered to lead active, healthy and fulfilling lives. Being around horses has a positive impact on health and wellbeing.

Volunteer opportunities start at 13 years old, and we currently have 30 volunteers who muck out, groom, support lessons and keep our Centre in good order. The well-being and mental health impact of being around horses, also benefits our volunteers.

There is much evidence to show that riding produces physical improvements such as increased core strength, better co-ordination, improved mobility and an overall increase in fitness. We see more confidence, greater self-awareness, improved communication skills and overall more positive and beneficial states of mind.

People with disabilities form more than 50% of our client base. Their riding fees are partly subsidised by those without disabilities through our differential pricing model. In addition to the social equity, this also sees people with and without disabilities sharing their mutual love of riding.

Looking ahead

Financially the Riding Centre had a better year towards stability. As for many Riding Centres, operations remain challenging with shortages of professional coaches, shortages of affordable horses with the right temperament and weight carrying capability, and shortages of volunteers. As a BHS Approved Centre, the Riding Centre is better positioned to overcome the challenges in the year ahead with BHS support and new opportunities that brings.

Together with the support of the community and our ever expanding partners, the Riding Centre continues to pursue it’s charitable purposes and develop as a cultural and well-being community hub with horses at the core. The Riding Centre is a community asset for generations to come.

5

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT Continued

FOR THE YEAR ENDED 31 MAY 2025

Financial Review:

Capital

No capital receipts this year.

Fixed assets acquired, two horses Cilla £8,000 and Friday £5,500.

A legal charge, in favour of the Secretary of State for the Department of Levelling Up Housing and Communities in relation to the £150,000 Community Ownership grant is in place to October 2031. The Legal Charge is registered Companies House and the Land Registry.

Revenue

Income:

The Charity’s income for the year to 31 May 2025 after transaction fees was £232k.

Grants received in the year was £54.7k of which £34.7k was restricted. As at 31 May 2025 a balance of £17.3k restricted funds held which includes £13.3k Awards for All Lottery Funding to support core costs through to April 2026 .

Expenditure:

Expenditure for the year was £237.4k. This includes energy efficiency improvements to outbuildings and replacing the lighting in the indoor arena with modern energy efficient lights at a total cost of £9k. This work was funded by the DCMS Flexi Grant Groundworks .

Overall:

The Charity has a net loss of £5.5k this year. The Charity has cash and bank balances totalling £38.6K.

Reserves:

The charity has free reserves of £12.1k at the 31 May 2025. . In addition the charity holds £13.3k restricted funds, Awards for All Lottery to cover pay costs through to next April.

The Trustees have given due consideration to the charity’s resilience and capacity to manage unforeseen financial difficulties in the short term .

The Trustees feel the level of reserves is adequate although the intention is to build reserves in the coming year, including expansion of fundraising activities as part of 60 year anniversary celebrations, continued increase in income from hire of the new Studio, reaching new client groups, and expansion of the British Horse Society Changing Lives through Horses programme, courses and qualifications - the Centre has recently been approved as an Assessment Centre for BHS Stage 2 Lunge and Care qualifications.

6

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT Continued

FOR THE YEAR ENDED 31 MAY 2025

Structure, Governance and Management:

The charity is a company limited by guarantee.

The governance of the charity continues to be strengthened. Trustees are volunteers and receive no payment for their time.

The Riding Centre is a British Horse Society Approved Centre and is part of the British Horse Society’s Changing Lives Through Horses Programme. The BHS inspect regularly and the Centre is rated as ‘Highly Commended’

The Riding Centre has a 5 star licenced with Bury MBC.

Charity Trustees who Manage the Charity :

Andrew Butterworth Debra Batchelor Janis Green

It should be noted that following the year end, Janis Green resigned as Director and Charity Trustee on 25 June 2025 and the remaining Directors appointed Sir David Crausby to the vacancy.

7

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

Reference and Administrative Details of the Charity and their Advisors

Charity Number 1106437 Business Address Moor Road Holcombe Bury BL8 4NX Independent Richard Gahan FCCA Examiner 7 Kingsbury Close Tottington Bury Lancashire, BL8 1WA Bankers Barclays Bank PLC 51 Mosley Street Manchester, M60 2AU Co-operative Bank 70 - 72 Cross St Manchester, M2 4JG

Statement of the Trustees’ Financial Responsibilities

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

The trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of The Margaret Haes Riding Centre Limited and of its incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees should follow best practice and:

8

MARGARET HAES RIDING CENTRE LIMITED

TRUSTEE’S REPORT Continued

FOR THE YEAR ENDED 31 MAY 2025

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure the financial statements comply with the applicable law, regulations and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006. On behalf of the Board of Trustees.

Andrew Butterworth 30 November 2025

9

MARGARET HAES RIDING CENTRE LIMITED

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31 MAY 2025

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 May 2025.

Responsibilities and basis of the report.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Richard Gahan FCCA 12 November 2025

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MARGARET HAES RIDING CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MAY 2025

11

MARGARET HAES RIDING CENTRE LIMITED BALANCE SHEET FOR THE YEAR ENDED 31 MAY 2025

354,148 |

12

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director’s responsibilities:

Approved by the Board of Trustees and signed on their behalf by:

Andrew Butterworth 30 November 2025

13

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.ACCOUNTING POLICIES

1. Company information

Margaret Haes Riding Centre Limited is a company limited by guarantee and a registered charity, without share capital. The company is incorporated in England and Wales. The registered office is Moor Road, Holcombe, Bury BL8 4NX

1.1 Accounting convention

These financial statements have been prepared in accordance with FRS102 “the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The amounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies are set out below and have remained unchanged from the previous year and consistently applied within the accounts.

1.2 Income

Donations are included in full in the Statement of Financial Activities when receivable.

Income from rides and non-ridden activities is included as income in the Statement of Financial Activities when the activity is booked to take place . Clients pay in advance for rides through an on line booking system. Income is held as ‘income paid in advance’ until the ride takes place.

Donated assets are included at the value to the charity where this can be quantified.

Grant income from government departments, local authorities and non-departmental public bodies is accounted on an accruals basis. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the related costs for which the grant is intended to compensate. Grants received for the purpose of giving immediate financial support to the charity with no future related costs are recognised in income when it is received.

14

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.3 Expenditure

Resources expended are recognised in the year in which they are incurred. Resources expended include attributable VAT, which cannot be recovered. The value of services provided by volunteers is not included in the accounts.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. To assist the work of the charity but do not directly undertake charitable activities.

1.4 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated reserves are unrestricted funds of the charity, which the Trustees have decided at their discretion to set aside for a specific purpose. Restricted funds are donations and grant income, which the donor has specified are to be solely used for particular areas of the charity’s work or for a specific project undertaken by the Trustees.

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.6 Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments Issues” of FRS 102 to all its financial statements.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial asset

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

15

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

De-recognition of financial liabilities

Financial liabilities are de-recognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7 Taxation

United Kingdom Corporation Tax, Income Tax and grants to relieve such tax liabilities are not applicable to the company, as a result of its charitable status.

1.8 Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

16

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MAY 2025

2 GRANT RECEIPTS INCLUDING GOVERNMENT GRANTS

==> picture [369 x 196] intentionally omitted <==

----- Start of picture text -----
oe Grants : Description £ £ Balance£ as Rec'd£
DCMSRestricted Flexi Grant Groundworks EnergyOe Efficiency oe8,990 8,990 ae-
Bury VCFA Volunteer Event 250 250 -
Awards for All Lottery Core Costs 20,000 6,732 13,268
Bury Rotary Saddles and Tack 1,000 1,000
Tottington and Bury West Rotary Saddles and Tack 500 500
Manchester Guardian Society Relocate Stable Block 3,500 . 3,500
Community Lottery Core Cost & Improve Outbuildings 10,000
Tesco Community - Stronger Starts Conversion of Workshop 1,000
Coop Local Community Fund CLTH Classroom 2,543
GARL Foundation Conversion of Workshop 40,000
DLUHC Community Ownership Fund Balance of COF Revenue Grant 20,321
British Horse Society Phase 2 of Workshop Conversion 6,000
Radcliffe Rotary Tack 500 500
Unrestricted Grants:
GARL Foundation Core Costs 20,000 20,000 -
Po totat aa7a72 7,268] 79,864 |
----- End of picture text -----

3.SUPPORT COSTS

17

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MAY 2025

4.TANGIBLE FIXED ASSETS

Land and Property – Land, arenas and stables acquired for £300,000 on 1 March 2023. Part funded by a capital grant £150K received from the Government’s Community Ownership Fund (COF). The COF grant agreement requires a legal charge in favour of the Secretary of State for the Department of Levelling Up Housing and Communities to be in place for seven years, and expires October 2031.

18

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MAY 2025

5. DEBTORS AND PREPAYMENTS

6. CREDITORS AND ACCRUALS

The loan represents a Barclay’s “Bounce Back” Loan which is unsecured. The loan is payable monthly over ten years and will attract an interest rate of 2.5% per annum. The Charity had a loan repayment holiday for six months starting 1[st] June 2022 and extended the term, and a further loan repayment holiday for six months starting October 2024.

19

MARGARET HAES RIDING CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 MAY 2025

7.CHARITABLE FUNDS AND RESERVES

_17,268 |

20