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2021-04-05-accounts

CHARITY REGISTRATION NUMBER: 1108451

The Stables Horse Activity Centre Unaudited Financial Statements

5 April 2021

BRIAN PAUL LIMITED

Chartered Accountants Chase Green House 42 Chase Side Enfield Middlesex EN2 6NF

The Stables Horse Activity Centre

Financial Statements

Year ended 5 April 2021

Page
Trustees' annual report 1
Independent examiner's report to the trustees 6
Statement of financial activities 7
Statement of financial position 8
Statement of cash flows 9
Notes to the financial statements 10
The following pages do not form part of the financial statements
Detailed statement of financial activities 20
Notes to the detailed statement of financial activities 21

The Stables Horse Activity Centre

Trustees' Annual Report

Year ended 5 April 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2021.

Reference and administrative details

Registered charity name The Stables Horse Activity Centre Charity registration number 1108451 Registered office 180 Scotland Green Road North, Enfield Middlesex EN3 7AT United Kingdom The trustees James Flannery (Chairman) Michaelle St Vincent William St Vincent Teresa Bull Ms Elaine Munro Trevor Moss (Resigned 4 August 2020) Company secretary Elaine Munro Independent examiner Paul Phillips FCA Brian Paul Limited Chase Green House 42 Chase Side Enfield Middlesex EN2 6NF

The trustees

Structure, governance and management

The charity is an unincorporated entity, registered with the Charity Commission of England and Wales. It is governed in accordance with the provisions set out in the trust deeds adopted on the 14th day of November 2004.

Trustees may be appointed under the terms of the trust deed only with the power to co-opt until subsequent general meetings to fill casual vacancies as and when they may arise.

The charity is administered by its Trustees. In particular, the executive committee are charged with the day to day administration of its activities.

1

The Stables Horse Activity Centre

Trustees' Annual Report (continued)

Year ended 5 April 2021

Objectives and activities

The Stables Horse Activity Centre was founded in 1994 by William Marshall who had a vision of running a purpose built fully integrated riding centre. William, a trained social worker and deputy manager of Fieldways Day Centre in Barnet, was a keen horseman who knew the holistic benefits that equine therapy could bring.

Originally set up as part of Fieldways and funded by Barnet Council, we started life with 2 horses and a shed to keep them in and an empty field. The clients who attended the day centre spent time with the horses as part of the day care activities. In 2005, Fieldways Day Centre was closed and The Stables Horse Activity Centre charity set up to take over the running of the stables.

From these humble beginnings, we have grown over the last 27 years to a fully functioning yard with 24 horses, providing riding, equine therapy and classes in horse care and stable management. We are licensed by Barnet Council and have a five-star rating.

It is our experience that working with and riding horses develops confidence, raises self-esteem, boosts mental health and wellbeing and enhances the lives of our clients, the majority of whom have either learning and/or physical disabilities or come from socially deprived local areas. We don't look at the disability, but the ability, helping people enrich their lives. We have created a very special family.

The Stables Horse Activity Centre works with local social services, schools and specialist social care providers. We provide a range of support and services to a wide range of clients with diverse needs:-

Social Care Students

We have around 10 social care students who come to the Stables during the week to work, looking after the horses. Some of our students have been with us since we opened and have not only developed relationships with the horses, but also each other and the whole team in a safe and secure environment. The Stables enhances their lives, by providing social interactions and enhancing confidence and life skills. Our students have also been working towards the City & Guilds Horse Care qualification. All new students are risk assessed before attending the Stables to ensure we are fully aware of and can manage their needs.

Weekday Riding Therapy Lessons

We work with special schools and centres for people with complex disabilities offering over 700 riding therapy lessons a year. The lessons are highly specialised for small groups, tailored to the specific needs of that group. For riders with physical disabilities, riding helps provide physiotherapy, providing a sense of freedom as well as improving motor function, posture, building muscles, increased balance and coordination. For riders with learning disabilities or on the autistic spectrum, it helps improve social interactions, cognitive and language skills, and creates an emotional bond.

Weekend Riding Lessons

The Stables is situated in a socially deprived area of Barnet and we have many riders from 5 - 65+ from the local area. We run over 2,500 riding lessons throughout the year. The lessons are opportunities for disabled children and young people to ride with their non-disabled peers, further embedding the principles of community integration. The benefits are immense, with greater understanding, acceptance and respect of people who may be different to you. This combined with the team effort of working with and riding the horses makes for great community.

As many of our clients are vulnerable, we have fully implemented a range of policies which are regularly reviewed and the team are trained on them including role play situations to embed their learning:

" Health & Safety Policy

2

The Stables Horse Activity Centre

Trustees' Annual Report (continued)

Year ended 5 April 2021

All staff are DBS (Disclosure and Barring Service) checked and have attended First Aid courses. They have also attended 'working with individuals with learning disabilities' and 'safeguarding' courses. We have a trustee responsible for safeguarding and staff and where appropriate, trustees are DBS (Disclosure and Barring Service) checked as well.

Our team

The success of The Stables hinges on our experienced employed team supported by our fantastic volunteers, without whom we could not operate.

Samantha Harrison - Stables Manager. Sam has been with The Stables since November 2010 and has a BA(Hons) in Equine Business Management second class honours (upper division) 2:1. Sam has also completed her BHS PTT UKCC Level 2 and BHS Stage 3 Dressage, Care and Lunge. Sam is also currently training under Mary Wanless Ride with Your Mind Rider and completing the instructor training programme which has a biomechanics focus.

Zsuzsanna Lazar - Deputy Manager. Zsuzsanna has been with The Stables since June 2015 and has completed her Level 3 Diploma in Work-based Horse Care Management as well as Level 3 Certificate in Principles of Horse Care and Management. Zsuzsanna is currently completing her Level 3 Diploma Work-based Horse Care and Management - Coaching Unit.

Jess Bull - Stables Assistant. Jess has been involved with The Stables for over 16 years and has kindly been helping out since August 2020.

Britney Wilkinson - Apprentice. Britney joined The Stables in August 2020 and is working towards her Level 2 Diploma Work-based Horse Care and Management.

Our volunteers help out with many jobs around The Stables, as well as leading horses and ponies for riding lessons, tack cleaning, evening yard checks and tireless fund raising. We owe everyone an immense debt of gratitude.

3

The Stables Horse Activity Centre

Trustees' Annual Report (continued)

Year ended 5 April 2021

Achievements and performance

Like many businesses and charities, COVID - 19 had a massive impact on our ability to raise money during the year. Lesson income was down over 60% on the previous year, however when eases in lockdown permitted limited opening, a change of focus to private and semi- private lessons helped us maximise the opportunity available. Social care income was also down relative to previous years, but as many students continued to make their payments to support the Stables and ensure it continued when COVID restrictions were lifted. The Trustees and staff would like to thank all the students and their carers for their continued support.

As fundraising opportunities were also impacted, the trustees switched their focus to Just Giving and social media which raised £5,302 of the £5,508 in total, but this was still down on the previous year.

Extra effort was put in to apply for grants and donations which raised £42,182 which was more than double relative to the previous year. In order to complete the second school, a loan of £10,000 was provided , being repaid over 25 months interest free. Finally, the Stables recovered the sum of £7,689 via the government furlough scheme.

The trustees would like to thank the yard management and staff for their commitment and flexibility in maintaining the Stables throughout the year in extremely difficult circumstances. There was an increase in staff members as we had previously operated below the staffing requirements hence our salary costs have increased. However, the team managed to reduce costs as horses were not as active. Major reductions were seen in hay, feed, vet and dentistry. On a 'like or like' basis, excluding salaries and the new school and surfaces, year on year other running costs were reduced by 40% relative to the previous year.

We successfully maintained our 5 star licence rating from Barnet Council.

Overall, the Trustees believe The Stables performed very well against the backdrop of COVID-19 by increasing total income through grants and donations, as well as obtaining a loan to complete the new school. Costs have been carefully controlled, yet £37,355 was invested in a new school and riding surfaces.

Looking forward

With the new school complete and more staff in place, this gives us greater flexibility in the type of lessons and numbers of riders we can accommodate meeting COVID rules whilst maximising income. Lesson prices, increased at the beginning of 2021, will be closely monitored whilst ensuring we retain our values of riding for all, irrespective of background or ability in an inclusive environment.

We will continue to focus on student and staff development as well as providing support for our apprentices.

4

The Stables Horse Activity Centre

Trustees' Annual Report (continued)

Year ended 5 April 2021

Financial review

The charity received riding donations of £154,199 (2020:£172,640),raised funds of £5,508 (2020:£9,060),government furlough grant of £7,689 (2020:£Nil) and earned interest of £26 (2020:£160) during the year ended 5th April 2021. Total gross income for the period was below the £250,000 threshold and gross assets held by the charity did not exceed £3.26m. Consequently, no audit is required, and no request thereof has been received by the Trustees.

Expenditure on projects and running costs were £180,312 (2020:£205,050) resulting in a decreased fund balance as at 5th April, 2021 of £255,139 (2020:£268,029)

Reserve policy

The Trustees consider it prudent to maintain an adequate balance of unrestricted funds to cover running costs for a period of 6 months. As at 5th April 2021, the reserves held as unrestricted funds, which have not been designated or invested in fixed assets were £68,686 (2020:£90,302). These funds would cover our expenditure for 5 months.

The trustees' annual report was approved on………………………………… 2021 and signed on behalf of the board of trustees by:

Ms Elaine Munro Trustee

5

The Stables Horse Activity Centre

Independent Examiner's Report to the Trustees of The Stables Horse Activity Centre

Year ended 5 April 2021

I report to the trustees on my examination of the financial statements of The Stables Horse Activity Centre ('the charity') for the year ended 5 April 2021.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Paul Phillips FCA

Independent Examiner Brian Paul Limited Chase Green House 42 Chase Side Enfield Middlesex EN2 6NF

…………………….

6

The Stables Horse Activity Centre

Statement of Financial Activities

Year ended 5 April 2021

2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 157,396 10,000 167,396 181,700
Investment income 5 26 – 26 160
--------------------------------- ---------------------------- --------------------------------- ---------------------------------
Total income 157,422 10,000 167,422 181,860
================================= ============================ ================================= =================================
Expenditure
Expenditure on charitable activities 6,7 170,312 10,000 180,312 205,250
--------------------------------- ---------------------------- --------------------------------- ---------------------------------
Total expenditure 170,312 10,000 180,312 205,250
================================= ============================ ================================= =================================
--------------------------------- ---------------------------- --------------------------------- ---------------------------------
Net expenditure and net movement in
funds (12,890) – (12,890) (23,390)
================================= ============================ ================================= =================================
Reconciliation of funds
Total funds brought forward 268,029 – 268,029 291,419
--------------------------------- ---------------------------- --------------------------------- ---------------------------------
Total funds carried forward 255,139 – 255,139 268,029
================================= ============================ ================================= =================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 18 form part of these financial statements.

7

The Stables Horse Activity Centre

Statement of Financial Position

5 April 2021

2021 2020
Note £ £
Fixed assets
Tangible fixed assets 12 177,057 164,462
Current assets
Stocks 13 11,001 11,001
Debtors 14 9,097 9,588
Cash at bank and in hand 69,211 90,302
---------------------------- ---------------------------------
89,309 110,891
Creditors: amounts falling due within one year 15 8,027 7,324
---------------------------- ---------------------------------
Net current assets 81,282 103,567
--------------------------------- ---------------------------------
Total assets less current liabilities 258,339 268,029
Creditors: amounts falling due after more than one year 16 3,200 –
--------------------------------- ---------------------------------
Net assets 255,139 268,029
================================= =================================
Funds of the charity
Unrestricted funds 255,139 268,029
--------------------------------- ---------------------------------
Total charity funds 19 255,139 268,029
================================= =================================

These financial statements were approved by the board of trustees and authorised for issue on ------- - --------------- 2021, and are signed on behalf of the board by:

Ms Elaine Munro Trustee

The notes on pages 10 to 18 form part of these financial statements.

8

The Stables Horse Activity Centre

Statement of Cash Flows

Year ended 5 April 2021

2021 2020
£ £
Cash flows from operating activities
Net expenditure (12,890) (23,390)
Adjustments for:
Depreciation of tangible fixed assets 25,737 23,553
Government grant income (7,689) –
Other loans (8,000) –
Other interest receivable and similar income (26) (160)
Interest payable and similar charges 459 –
Accrued (income)/expenses (272) 2,649
Changes in:
Stocks – 3,149
Trade and other debtors 491 (9,588)
Trade and other creditors 4,175 346
---------------------------- ----------------------------
Cash generated from operations 1,985 (3,441)
Interest paid (459) –
Interest received 26 160
----------------------- -----------------------
Net cash from/(used in) operating activities 1,552 (3,281)
======================= =======================
Cash flows from investing activities
Purchase of tangible assets (38,332) –
---------------------------- -----------------------
Net cash used in investing activities (38,332) –
============================ =======================
Cash flows from financing activities
Government grant income 7,689 –
Other loans 10,000 –
Loan repayment (2,000) –
---------------------------- -----------------------
Net cash from financing activities 15,689 –
============================ =======================
Net decrease in cash and cash equivalents (21,091) (3,281)
Cash and cash equivalents at beginning of year 90,302 93,583
---------------------------- ----------------------------
Cash and cash equivalents at end of year 69,211 90,302
============================ ============================

The notes on pages 10 to 18 form part of these financial statements.

9

The Stables Horse Activity Centre

Notes to the Financial Statements

Year ended 5 April 2021

1. General information

The charity is an unincorporated entity and registered under the charity commission in England and Wales. The registered office address is 180 Scotland Green Road North, Enfield. EN3 7AT and place of business is The Stables, Barnet Lane, Barnet, London, EN5 2DN.

2. Statement of compliance

These financial statements have been prepared in accordance with the Charity’s Trust Deed, the Charities Act 2011 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 (FRS 102)’’ (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

In producing these financial statements, the trustees have considered accounting policies and relevant estimates. In the trustee’s opinion and to the best of their knowledge significant accounting entries are based upon facts. However, these accounts do include estimates in relation to useful life of assets and immaterial accruals.

Taxation

Value added tax is not recoverable by the charity and as such is included in the relevant costs on the Statement of Financial Activities and the Statement of Financial Position on the matching basis of accounting. The company is not subject to direct taxation on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.

10

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

3. Accounting policies (continued) Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

11

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

3. Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses

.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - Between 10 - 20 years Fixtures and fittings - Between 3 - 25 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

12

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

4. Donations and legacies

4. Donations and legacies
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Donations
Social care income 95,189 – 95,189
Riding lessons 16,828 – 16,828
Donations 32,182 10,000 42,182
Fundraising activities 5,508 – 5,508
Grants
Government grant income 7,689 – 7,689
-------------------------------- ---------------------------- --------------------------------
157,396 10,000 167,396
================================ ============================ ================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Donations
Social care income 103,074 – 103,074
Riding lessons 49,712 – 49,712
Donations 19,854 – 19,854
Fundraising activities 9,060 – 9,060
Grants
Government grant income – – –
-------------------------------- -------------- --------------------------------
181,700 – 181,700
================================ ============== ================================
5. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Bank interest receivable 26 26 160 160
============== ============== ============== ==============
6. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Direct activity 168,212 10,000 178,212
Governance costs 2,100 – 2,100
--------------------------------- ---------------------------- ---------------------------------
170,312 10,000 180,312
================================= ============================ =================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Direct activity 203,150 – 203,150
Governance costs 2,100 – 2,100
--------------------------------- -------------- ---------------------------------
205,250 – 205,250
================================= ============== =================================

13

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

7. Expenditure on charitable activities by activity type

Activities
undertaken Support Total funds Total fund
directly costs 2021 2020
£ £ £ £
Direct activity 178,212 – 178,212 203,150
Governance costs – 2,100 2,100 2,100
---------------------------- --------------------------------- --------------------------------- ---------------------------------
178,212 2,100 180,312 205,250
============================ ================================= ================================= =================================
Net expenditure
Net expenditure is stated after charging/(crediting):
2021 2020
£ £
Depreciation of tangible fixed assets 25,737 23,553
Operating lease rentals 4,000 4,168
============================ ============================
Independent examination fees
2021 2020
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,100 2,100
======================= =======================

8. Net expenditure

9. Independent examination fees

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as The total staff costs and employee benefits for the reporting period are analysed as follows:
2021 2020
£ £
Wages and salaries 83,417 77,348
Employer contributions to pension plans 4,875 1,388
---------------------------- ----------------------------
88,292 78,736
============================ ============================

The average head count of employees during the year was 8 (2020: 6).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

11. Trustee remuneration and expenses

The charity has not met any individual expenses incurred by the trustees.

14

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

12. Tangible fixed assets

Freehold Fixtures and
property fittings Total
£ £ £
Cost
At 6 April 2020 100,816 87,199 188,015
Additions 34,074 4,258 38,332
--------------------------------- ---------------------------- ---------------------------------
At 5 April 2021 134,890 91,457 226,347
================================= ============================ =================================
Depreciation
At 6 April 2020 10,081 13,472 23,553
Charge for the year 11,785 13,952 25,737
--------------------------------- ---------------------------- ---------------------------------
At 5 April 2021 21,866 27,424 49,290
================================= ============================ =================================
Carrying amount
At 5 April 2021 113,024 64,033 177,057
================================= ============================ =================================
At 5 April 2020 90,735 73,727 164,462
================================= ============================ =================================
13. Stocks
2021 2020
£ £
Horses 11,001 11,001
============================ ============================

15

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

14. Debtors

2021 2020
£ £
Trade debtors 9,056 9,588
Other debtors 41 –
----------------------- -----------------------
9,097 9,588
======================= =======================
Creditors: amounts falling due within one year
2021 2020
£ £
Accruals and deferred income 3,227 3,499
Social security and other taxes – 3,825
Other creditors 4,800 –
----------------------- -----------------------
8,027 7,324
======================= =======================

15. Creditors: amounts falling due within one year

16. Creditors: amounts falling due after more than one year

During the year an interest free loan of £10,000 for a term of 25 months with repayment commencing in November 2020 was secured by the charity to complete the construction of its second school.

2021 2020
£ £
Between 1 and 5 years 3,200
 –
----------------------- -----------------------
3,200
 –
======================= =======================

17. Pensions and other post- retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,875 (2020: £1,388).

18. Government grants

The amounts recognised in the financial statements for government grants are as follows:

2021 2020
£ £
Recognised in income from donations and legacies:
Government grants income 7,689 –
======================= ==============

16

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
6 April 2020 Income Expenditure 5 April 2021
£ £ £ £
General funds 268,029 150,122 (168,312)
249,839
Designated funds – 7,300 (2,000)
5,300
______ ______ ______ ______
268,029 157,422 (180,312)
255,139
================================ ================================ ================================ ================================
At At
6 April 2019 Income Expenditure 5 April 2020
£ £ £ £
General funds 291,419 181,860 (205,250)
268,029
================================= ================================= ================================= =================================
Restricted funds
At At
6 April 2020 Income Expenditure 5 April 2021
£ £ £ £
Restricted Fund – 10,000 (10,000)
–
============== ============================ ============================ ==============
At At
6 April 2019 Income Expenditure 5 April 2020
£ £ £ £
Restricted Fund – – – –
============== ============== ============== ==============
20. Analysis of net assets between funds
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Tangible fixed assets 177,057 – 177,057
Current assets 89,309 – 89,309
Creditors less than 1 year (3,227) – (3,227)
Creditors greater than 1 year (8,000) – (8,000)
--------------------------------- ---------------------------- ---------------------------------
Net assets 255,139 – 255,139
================================= ============================ =================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Tangible fixed assets 164,462 – 164,462
Current assets 110,891 – 110,891
Creditors less than 1 year (7,324) – (7,324)
Creditors greater than 1 year – – –
--------------------------------- -------------- ---------------------------------
Net assets 268,029 – 268,029
================================= ============== =================================

.

17

The Stables Horse Activity Centre

Notes to the Financial Statements (continued)

Year ended 5 April 2021

21. Analysis of changes in net debt

At
At 6 Apr 2020 Cash flows 5 Apr 2021
£ £ £
Cash at bank and in hand 90,302 (21,091)
69,211
============================ ============================ ============================
Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
2021 2020
£ £
New school – 15,000
Tractor, heap container and replacement lighting 15,000
============================ ============================

22. Capital commitments

23. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2021 2020
£ £
Not later than 1 year 4,000 4,000
Later than one year and not later than five years 16,000 16,000
Later than five years 15,000 18,667

The charity also rent a field at the cost of £3640.00 per annum however there is no formal agreement in place indicating the extent of the charity's commitment.

18

The Stables Horse Activity Centre

Management Information

Year ended 5 April 2021

The following pages do not form part of the financial statements.

19

The Stables Horse Activity Centre

Notes to the Detailed Statement of Financial Activities

Year ended 5 April 2021


Income and endowments
Social care income
Riding lessons
Donations
Fund raising activities
Government grant income
Investment income
Bank interest receivable
Total income
Expenditure
Expenditure on charitable activities
Feed and bedding
Farrier
Yard roof and stable repairs
Wages and salaries
Pension costs
Site lease
Equipment hire
Repairs, renewals and maintenance
Subcontractor costs
Light and heat
Repairs and renewals to tack
Rug cleaning and repairs
Security costs
Insurance
Field rent
Manure removal
Website expenses
Advertising
Licence fees
Subsistence
Legal and professional
Independent examiners fees
Telephone
Printing, postage and stationery
Depreciation
Merchant charges
Miscellaneous expenses
Staff training
Net expenditure		 2021

£
95,189
16,828
42,182
5,508
7,689
--------------------------------
167,396
--------------------------------
26
--------------
--------------------------------
167,422
================================
17,500
3,000
6,913
83,417
4,875
4,000
3,963
906
1,080
976
–
462
4,212
11,241
3,640
1,508
96
285
–
416
1,680
2,100
216
310
25,737
459
–
1,320
--------------------------------
180,312
--------------------------------
(12,890)		 2020
£
103,074
49,712
19,854
9,060
–
--------------------------------
181,700
--------------------------------
160
--------------
--------------------------------
181,860
================================
44,607
3,190
7,073
77,348
1,388
4,168
4,588
703
4,390
2,274
1,577
930
4,560
10,621
3,640
2,880
93
114
231
1,068
–
2,100
216
284
23,553
–
248
3,406
--------------------------------
205,250
--------------------------------
(23,390)

20

The Stables Horse Activity Centre

Notes to the Detailed Statement of Financial Activities

Year ended 5 April 2021

2021 2020
£ £
Expenditure
Expenditure on charitable activities
Feed and bedding 17,500 44,607
Farrier 3,000 3,190
Yard roof and stable repairs 6,913 7,073
Wages and salaries 83,417 77,348
Pension costs 4,875 1,388
Site lease 4,000 4,168
Equipment hire 3,963 4,588
Repairs, renewals and maintenance 906 703
Subcontractor costs 1,080 4,390
Light and heat 976 2,274
Repairs and renewals to tack – 1,577
Rug cleaning and repairs 462 930
Security costs 4,212 4,560
Insurance 11,241 10,621
Field rent 3,640 3,640
Manure removal 1,508 2,880
Website expenses 96 93
Advertising 285 114
Licence fees – 231
Subsistence 416 1,068
Legal and professional 1,680 –
Independent examiners fees 2,100 2,100
Telephone 216 216
Printing, postage and stationery 310 284
Depreciation 25,737 23,553
Merchant charges 459 –
Miscellaneous expenses – 248
Staff training 1,320 3,406
-------------------------------- --------------------------------
180,312 205,250
-------------------------------- --------------------------------
-------------------------------- --------------------------------
Expenditure on charitable activities 180,312 205,250
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