2021-03-31-accounts - Heros

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

	Page
Report ofthe Trustees	1 to	8
Independent Examiner's Report
Statement of Financial Activities	10
Statement of Financial Position	11 to	12
Statement ofCash Flows	13
Notes tothe Statement ofCash Flows	14
Notes tothe Financial Statements	15 to	27

							2021	2020
					Unrestricted	Restricted	Total	Total
					fund	funds	funds	funds
				Notes	f	E	E	E
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies			2	396,190	20,000	416,190	180,234
Charitable activities
Retraining and	reho ming	ofex-racehorses			23,500	17,200	40,700	153,782
Other trading	activities				136,350		136,350	152,032
Investment income					13		13	14
Other income					19,542		19,542	25,368
Total					575,595	37,200	612,795	511,430
EXPENDITURE	ON
Raising funds					701		701	1,206
Charitable activities
Retraining and	rehoming	ofex-racehorses			540,636	6,000	546,636	482,518
Total					541,337	6,000	547,337	483,724
NET INCOME					34,258	31,200	65,458	27,706
RECONCILIATION OF FUNDS
Total funds brought forward					55,893		55,893	28,187
TOTAL FUNDS	CARRIED	FORWARD			90,151	31,200	121,351	55,893

				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	E	f	E	f
FIXEDASSETS
Tangible assets	13	62,631		62,631	27,839
CURRENT ASSETS
Stocks	14	101,500		101,500	111,650
Debtors	15	33,277		33,277	92,129
Cash at bank		98,539	31,200	129,739	35,403
		233,316	31,200	264,516	239,182
CREDITORS
Amounts falling due within one year	16	(44,363)		(44,363)	(111,128)
NET CURRENT ASSETS		188,953	31,200	220,153	128,054
TOTAL ASSETS LESSCURRENT LIABILITIES		251,584	31,200	282,784	155,893
CREDITORS
Amounts falling due after more than one
year	17	(161,433)		(161,433)	(100,000)
NET ASSETS		90,151	31,200	121,351	55,893
FUNDS	21
Unrestricted funds				90,151	55,893
Restricted funds				31,200
TOTAL FUNDS				121,351	55,893

			STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS
		FOR THE YEAR ENDED 31MARCH			2021
					2021	2020
			Notes		E	f
Cash flows from operating	activities
Cash generated from operations				1	71,875	(72,451)
Net cash provided by/(used	in) operating			activities	71,875	(72,451)
Cash flows from investing	activities
Purchase oftangible fixed	assets			(24,325)		(14,400)
Interest received					13	14
Net cash used in investing	activities			(24,312)		(14,386)
Cash flows from financing	activities
New loans in year					50,000	100,000
Capital repayments in year					(3,227)
Net cash provided by financing activities					46,773	100,000
Change in cash and cash equivalents			in
the reporting period					94,336	13,163
Cash and cash equivalents	at the
beginning ofthe reporting	period				35,403	22,240
Cash and cash equivalents	atthe	end
ofthe reporting period				129,739		35,403

						2021	2020
						E	f
Net income for the		reporting	period (as per	the Statement	of
Financial Activities)						65,458	27,706
Adjustments	for:
Depreciation	charges					17,233	13,280
Interest received						(13)	(14)
Decrease/(increase)		in stocks				10,150	(8,450)
Decrease/(increase)		in debtors				58,852	(70,978)
Decrease in creditors						(79,805)	(33,995)
Net cash provided		by/(used	in) operations			71,875	(72,451)
ANALYSIS OF	CHANGES IN NET DEBT
						Other
						non-cash
				At 1/4/20 f	Cash flow f	changes E	At 31/3/21 f
Net cash
Cash at bank				35,403	94,336		129,739
				35,403	94,336		129,739
Debt
Finance leases					3,227	(27,700)	(24,473)
Debts falling due
within 1year					(7,500)		(7,500)
Debts falling due
after 1year				(100,000)	(42,500)		(142,500)
				(100,000)	(46,773)	(27,700)	(174,473)
Total				(64,597)	47,563	(27,700)	(44,734)

DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
		2021	2020
		E	E
Retraining	ofracehorses	26,000	66,500
Incoming	horses	8,000	16,625
Donations	- other	52,125	88,659
Recognition ofbloodstock			6,950
Grants		328,565
Legacies		1,500	1,500
		416,190	180,234

			2021	2020
			f	E
	Government support - CJRS		22,664
	Business Interruption	loan interest	1,250
	Council grant- COVID	support	30,000
	Racing Foundation - COVID support		274,651
			328,565
3.	OTHER TRADING ACTIVITIES
			2021	2020
			f	E
	Fundraising events		644	9,301
	Payments for goods and services		8,685	5,121
	Subscriptions		6,336	6,702
	Lease and sale ofhorses		11,994	17,130
	Education and training		108,691	113,778
			136,350	152,032
4.	INVESTMENT INCOME
			2021	2020
				E
	Deposit account interest		13	14


5.	INCOME FROM CHARITABLE ACTIVITIES
						2021	2020
	Activity					E	E
	Retraining	and reho ming
	ofex-racehorses					40,700	153,782
6.	RAISING FUNDS
	Raising donations		and legacies
						2021	2020
						6	E
	Other					701	200
	Annual Horse Show						1,006
						701	1,206
7.	CHARITABLE ACTIVITIES			COSTS
						Support
					Direct	costs (see
					Costs	note 8)	ToteIs
					6	E	E
	Retraining	and rehoming		ofex-
	racehorses				541,721	4,915	546,636

Retraining	and	re	homing	ofex-
racehorses

			2021	2020
			E	E
Depreciation	-owned	assets	17,233	13,280

STAFF	COSTS
		2021	2020
		E	E
Wages	and salaries	113,046	119,264
Social	security costs	2,915	6,247
		115,961	125,511

	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31MARCH 2021	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31MARCH 2021	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31MARCH 2021	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31MARCH 2021
12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				fund	funds	funds
				f	f	f
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			180,234		180,234
	Charitable activities
	Retraining and reho ming	ofex-
	racehorses			16,024	137,758	153,782
	Other trading activities			152,032		152,032
	Investment income			14		14
	Other income			25,368		25,368
	Total			373,672	137,758	511,430
	EXPENDITURE ON
	Raising funds			1,206		1,206
	Charitable activities
	Retraining and rehoming	ofex-
	racehorses			330,380	152,138	482,518
	Total			331,586	152,138	483,724
	NET INCOME/(EXPENDITURE)			42,086	(14,380)	27,706
	Transfers between funds			2,500	(2,500)
	Net movement in funds			44,586	(16,880)	27,706
	RECONCILIATION OF FUNDS
	Total funds brought forward			11,307	16,880	28,187
	TOTAL FUNDS CARRIED FORWARD			55,893		55,893

13.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
				Fixtures
			Plant and	and	Computer
			machinery	fittings	equipment	Totals
			E	E	E	E
	COST
	At 1April 2020		3,450	71,818	23,212	98,480
	Additions			51,683	342	52,025
	At 31March	2021	3,450	123,501	23,554	150,505
	DEPRECIATION
	At 1April 2020		3,450	46,885	20,306	70,641
	Charge for year			15,861	1,372	17233
	At 31March	2021	3,450	62,746	21,678	87,874
	NET BOOK VALUE
	At 31March	2021		60,755	1,876	62,631
	At 31March	2020		24,933	2,906	27,839
14.	STOCKS
					2021	2020
					E	E
	Stocks				101,500	111,650
15.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2021	2020
					E	E
	Trade debtors				7,771	62,839
	VAT				18,006	21,374
	Prepayments	and accrued income			7,500	7,916
					33,277	92,129

			FOR THE YEAR ENDED 31MARCH 2021	FOR THE YEAR ENDED 31MARCH 2021
16.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2021	2020
					E	E
	Bank loans and	overdrafts		(see note 18)	7,500
	Hire purchase	(see note	19)		5,540
	Trade creditors				25,452	91,028
	Social security	and other		taxes	2,709	2,133
	Accruals and deferred income				3,162	17,967
					44,363	111,128

17.	CREDITORS	: AMOUNTS FA	LUNG DUE AFTER MORE THAN ONE YEAR
				2021	2020
				E	E
	Bank loans	(see note 18)		42,500
	Other loans	(see note 18)		100,000	100,000
	Hire purchase (see note 19)			18,933
				161,433	100,000
18.	LOANS
	An analysis	ofthe maturity	of loans is given below:
				2021	2020
				E	E
	Amounts falling due within		one year on demand:
	Bankloans			7,500
	Amounts falling between one and two years:
	Bank loans-1-2 years			10,000
	Amounts falling due between two and five years:
	Bank loans-	2-5 years		32,500
	Otherloans:
	Racing Foundation loan. The loan is interest free with no specific			100,000	100,000
	repayment	terms set at present.

19.	LEASING AGREE	LEASING AGREE	MENTS
	Minimum lease		payments	under hire purchase		fall due as follows:
							2021	2020
							E	f
	Net obligations		repayable:
	Within one year						5,540
	Between one	and five years					18,933
							24,473
20.	SECURED DEBTS
	The following	secured debts are included			within	creditors:
							2021	2020
							E	E
	Hire purchase	contracts					24,473
	The hire purchase debt is			secured on the	related assets.
21.	MOVEMENT	IN	FUNDS

MOVEM	ENT	IN FUNDS
				Net
				movement	At
			At 1/4/20	in funds	31/3/21
			E	E	E
Unrestricted		funds
General	fund		55,893	34,258	90,151
Restricted funds
Enrichment		programme		20,000	20,000
Uniform	and	tack fund		11,200	11,200
				31,200	31,200
TOTAL	FUNDS		55,893	65,458	121,351

				Incoming	Resources	Movement
				resources	expended	in funds
				f	E	E
Unrestricted			funds
General	fund			575,595	(541,337)	34,258
Restricted funds
Enrichment		programme		20,000		20,000
Uniform	and	tack fund		11,200		11,200
Kitchen	fitout		fund	6,000	(6,000)
				37,200	(6,000)	31,200
TOTALFUNDS				612,795	(547,337)	65,458

					Net	Transfers
					movement	between	At
				At 1/4/19	in funds	funds	31/3/20
					E	E	E
Unrestricted			funds
General	fund			11,307	42,086	2,500	55,893
Restricted		funds
Education		programme		16,880	(16,880)
Kitchen	fund				2,500	(2,500)
				16,880	(14,380)	(2,500)
TOTAL	FUNDS			28,187	27,706		55,893

		Incoming	Resources	Movement
		resources	expended	in funds
		f	F	E
Unrestricted	funds
General fund		373,672	(331,586)	42,086
Restricted funds
Education programme		135,258	(152,138)	(16,880)
Kitchen fund		2,500		2,500
		137,758	(152,138)	(14,380)
TOTALFUNDS		511,430	(483,724)	27,706

			Net	Transfers
			movement	between	At
		At 1/4/19	in funds	funds	31/3/21
		f	f	f	E
Unrestricted	funds
General fund		11,307	76,344	2,500	90,151
Restricted funds
Education programme		16,880	(16,880)
Kitchen fund			2,500	(2,500)
Enrichment	programme		20,000		20,000
Uniform and	tack fund		11,200		11,200
		16,880	16,820	(2,500)	31,200
TOTAL FUNDS		28,187	93,164		121,351

		Incoming	Resources	Movement
		resources f	expended E	in funds E
Unrestricted	funds
General fund		949,267	(872,923)	76,344
Restricted funds
Education programme		135,258	(152,138)	(16,880)
Kitchen fund		2,500		2,500
Enrichment programme		20,000		20,000
Uniform and	tack fund	11,200		11,200
Kitchen fitout	fund	6,000	(6,000)
		174,958	(158,138)	16,820
TOTAL FUNDS		1,124,225	(1,031,061)	93,164