## ||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| ## ## ## ##