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||Page||
|---|---|---|
|Report ofthe Trustees|1 to|10|
|Independent
Examiner's
Report|11 to|12|
|Statement of Financial Activities|13||
|Statement of Financial Position|14 to|15|
|Statement ofCash Flows|16||
|Notes tothe Statement ofCash Flows|17||
|Notes tothe Financial Statements|18 to|29|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Tota I|
||||fund|funds|funds|funds|
|||Notes|f|F|f|f|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies||2|236,036||236,036|416,190|
|Charitable
activities|||||||
|Retraining
and rehoming ofex-racehorses|||60,690|30,000|90,690|40,700|
|Other trading activities||3|212,197||212,197|136,350|
|Investment
income||4|8||8|13|
|Other income|||21,714||21,714|19,542|
|Total|||530,645|30,000|560,645|612,795|
|EXPENDITURE ON|||||||
|Raising funds|||200||200|701|
|Charitable
activities|||||||
|Retraining
and reho ming ofex-racehorses|||522,644|41,200|563,844|546,636|
|Total|||522,844|41,200|564,044|547,337|
|NET INCOME/(EXPENDITURE)|||7,801|(11,200)|(3,399)|65,458|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||90,151|31,200|121,351|55,893|
|TOTAL FUNDS CARRIED FORWARD|||97,952|20,000|117,952|121,351|
|||||2022|2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
||Notes|E|E|f|E|
|FIXEDASSETS||||||
|Tangible assets|13|50,158||50,158|62,631|
|CURRENT ASSETS||||||
|Stocks|14|134,350||134,350|101,500|
|Debtors|15|42,930||42,930|33,277|
|Cash at bank||78,127|20,000|98,127|129,739|
|||255,407|20,000|275,407|264,516|
|CREDITORS||||||
|Amounts
falling due within one year|16|(146,720)||(146,720)|(44,363)|
|NET CURRENT ASSETS||108,687|20,000|128,687|220,153|
|TOTAL ASSETS LESS CURRENT LIABILITIES||158,845|20,000|178,845|282,784|
|CREDITORS||||||
|Amounts
falling due after more than one||||||
|year|17|(60,893)||(60,893)|(161,433)|
|NET ASSETS||97,952|20,000|117,952|121,351|
|FUNDS|21|||||
|Unrestricted
funds||||97,952|90,151|
|Restricted
funds||||20,000|31,200|
|TOTAL FUNDS||||117,952|121,351|
##
##
||FO|R T|HE YEAR ENDED 3|1MARCH 2022||
|---|---|---|---|---|---|
|||||2022|2021|
|||Notes||f|f|
|Cash flows from operating|activities|||||
|Cash generated
from operations|||1|(15,744)|71,875|
|Net cash (used in)/provided|by operating||activities|(15,744)|71,875|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed|assets|||(10,336)|(24,325)|
|Interest received||||8|13|
|Net cash used
in investing|activities|||(10,328)|(24,312)|
|Cash flows from financing|activities|||||
|New loans in year|||||50,000|
|Capital repayments
in year||||(5,540)|(3,227)|
|Net cash (used in)/provided|by financing||activities|(5,540)|46,773|
|Change
in cash and cash equivalents||in||||
|the reporting
period||||(31,612)|94,336|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||129,739|35,403|
|Cash and cash equivalents|at the end|||||
|ofthe reporting
period||||98,127|129,739|
##
##
|RECONCILIATION
OF
ACTIVITIES|NE|T (|EXPENDITLIRE)/IN|COME
TO NET CASH FLOW|FROM OPERA|TING|
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||f|E|
|Net (expenditure)/income|||forthe reporting|period (as per the|||
|Statement of Financial Activities)|||||(3,399)|65,458|
|Adjustments
for:|||||||
|Depreciation
charges|||||22,809|17,233|
|Interest received|||||(8)|(13)|
|(Increase)/decrease|in stocks||||(32,850)|10,150|
|(Increase)/decrease|in debtors||||(9,653)|58,852|
|Increase/(decrease)|in creditors||||7,357|(79,805)|
|Net cash (used in)/provided|||by operations||(15,744)|71,875|
|ANALYSIS OF CHANGES||IN|NET DEBT||||
|||||At 1/4/21|Cash flaw|At 31/3/22|
|||||E||E|
|Net cash|||||||
|Cash at bank||||129,739|(31,612)|98,127|
|||||129,739|(31,612)|98,127|
|Debt|||||||
|Finance leases||||(24,473)|5,540|(18,933)|
|Debts falling due within||1year||(7,500)|(95,000)|(102,500)|
|Debts falling due after 1year||||(142,500)|95,000|(47,500)|
|||||(174,473)|5,540|(168,933)|
|Total||||(44,734)|(26,072)|(70,806)|
##
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|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|||
|---|---|---|---|
|||2022|2021|
|||E|E|
|Retraining|ofracehorses|8,500|26,000|
|Incoming|horses|4,000|8,000|
|Donations|- other|22,224|52,125|
|Recognition ofbloodstock||28,350||
|Grants||172,962|328,565|
|Legacies|||1,500|
|||236,036|416,190|
||||2022|2021|
|---|---|---|---|---|
||||E|E|
|Government|support|- CIRS|3,155|22,664|
|Business Interruption||loan interest||1,250|
|Council grant|- COVID support|||30,000|
|Racing Foundation
- COVID support|||169,807|274,651|
||||172,962|328,565|
##
|3.|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E|E|
||Fundraising|events||38,221|644|
||Payments|for goods and services||8,941|8,685|
||Subscriptions|||7,936|6,336|
||Lease and|sale ofhorses||8,925|11,994|
||Education|and training||148,174|108,691|
|||||212,197|136,390|
|4.|INVESTMENT INCOME|||||
|||||2022|2021|
|||||f|E|
||Deposit account interest|||8|13|
|S.|INCOME FROM CHARITABLE ACTIVITIES|||||
|||||2022|2021|
|||||f|E|
||Retraining|and reho ming||||
||ofex-racehorses|||90,690|40,700|
|6.|RAISING FUNDS|||||
||Raising donations||and legacies|||
|||||2022|2021|
|||||E||
||Other|||200|701|
##
||||||Support||
|---|---|---|---|---|---|---|
|||||Direct|costs (see||
|||||Costs|note 8)|Totals|
|||||E|6|6|
||Retraining|and rehoming|ofex-||||
||racehorses|||555,058|8,786|563,844|
|8.|SUPPORT|COSTS|||||
|||||||Governance|
|||||||costs|
|||||||f|
||Retraining|and rehoming|of ex-||||
||racehorses|||||8,786|
|9.|NET INCOME/(EXPENDITURE)||||||
||Net income/(expenditure)||is stated after charging/(crediting):||||
||||||2022|2021|
||||||6|E|
||Depreciation - owned assets||||22,809|17,233|
##
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##
|STAFF|COSTS|||
|---|---|---|---|
|||2022|2021|
|||E|E|
|Wages|and salaries|124,085|113,046|
|Social|security costs|3,489|2,915|
|||127,574|115,961|
|The average|monthly|number ofemployees|dudng the year was as follows:|||
|---|---|---|---|---|---|
|||||2022|2021|
|Total||||6|5|
##
||personnel for services provided to the charity was f35,285 (2021:E35,755|personnel for services provided to the charity was f35,285 (2021:E35,755|personnel for services provided to the charity was f35,285 (2021:E35,755|).||
|---|---|---|---|---|---|
|12.|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||||
||||Unrestricted|Restricted|Total|
||||fund|funds|funds|
||||E|E|E|
||INCOME AND ENDOWMENTS||FROIVI|||
||Donations|and legacies|396,190|20,000|416,190|
||Charitable|activities||||
||Retraining|and rehoming ofex-||||
||racehorses||23,500|17,200|40,700|
||Other trading activities||136,350||136,350|
||Investment|income|13||13|
||Otherincorne||19,542||19,542|
||Total||575,595|37,200|612,795|
||EXPENDITURE ON|||||
||Raising funds||701||701|
||Charitable|activities||||
||Retraining|and rehoming ofex-||||
||racehorses||540,636|6,000|546,636|
||Total||541,337|6,000|547,337|
##
|||NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31MARCH 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31MARCH 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31MARCH 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31MARCH 2022||
|---|---|---|---|---|---|---|
|12.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|||||
|||||Unrestricted|Restricted|Total|
|||||fund|funds|funds|
|||||E|f|f|
||NET INCOME|||34,258|31,200|65,458|
||RECONCILIATION||OF FUNDS||||
||Total funds brought forward|||55,893||55,893|
||TOTAL FUNDS CARRIED FORWARD|||90,151|31,200|121,351|
|13.|TANGIBLE FIXED ASSETS||||||
|||||Fixtures|||
||||Plant and|and|Computer||
||||machinery|fittings|equipment|Totals|
||||f|E|E|E|
||COST||||||
||At 1April 2021||3,450|123,501|23,554|150,505|
||Additions|||10,336||10,336|
||At 31March 2022||3,450|133,837|23,554|160,841|
||DEPRECIATION||||||
||At 1April 2021||3,450|62,746|21,678|87,874|
||Charge for year|||21,542|1,267|22,809|
||At 31March 2022||3,450|84,288|22,945|110,683|
||NET BOOK VALUE||||||
||At 31March 2022|||49,549|609|50,158|
||At 31March 2021|||60,755|1,876|62,631|
##
|||||NO|TE|S TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31MARCH 2022|||
|---|---|---|---|---|---|---|---|---|
|14.|STOCKS||||||||
||||||||2022|2021|
||||||||f|f|
||Stocks||||||134,350|101,500|
|15.|DEBTORS".AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||||
||||||||2022|2021|
||||||||E|f|
||Trade debtors||||||21,778|7,771|
||VAT||||||21,152|18,006|
||Prepayments|and accrued||||income||7,500|
||||||||42,930|33,277|
|16.|CREDITORS: AMOUNTS||||FALLING DUE WITHIN ONE YEAR||||
||||||||2022|2021|
||||||||E|f|
||Bank loans and||overdrafts|||(see note 18)|102,500|7,500|
||Hire purchase||(see note||19)||5,540|5,540|
||Trade creditors||||||32,607|25,452|
||Social security||and other||taxes||2,938|2,709|
||Accruals and|deferred||income|||3,135|3,162|
||||||||146,720|44,363|
|17.|CREDITORS: AMOUNTS||||FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||||2022|2021|
||||||||f|f|
||Bank loans (see note|||18)|||47,500|42,500|
||Other loans (see note|||18)||||100,000|
||Hire purchase||(see note||19)||13,393|18,933|
||||||||60,893|161,433|
##
##
|18.|LOANS|||||||
|---|---|---|---|---|---|---|---|
||An analysis ofthe maturity||of loans is given below:|||||
|||||||2022|2021|
|||||||f|E|
||Amounts
falling due within||one year on demand:|||||
||Bank loans|||||102,500|7,500|
||Amounts
falling between one and two years:|||||||
||Bank loans - 1-2years|||||10,000|10,000|
||Amounts
falling due between two and five years:|||||||
||Bank loans - 2-5 years|||||37,500|32,500|
||Amounts
falling due in more than five years:|||||||
||Repayable otherwise
than|by instaiments:||||||
||Other loans more Syrs non-inst||||||100,000|
|19.|LEASING AGREEMENTS|||||||
||Minimum
lease payments|under hire purchase|||fall due as follows:|||
|||||||2022|2021|
|||||||f|E|
||Net obligations
repayable:|||||||
||Within one year|||||5,540|5,540|
||Between one and five years|||||13,393|18,933|
|||||||18,933|24,473|
|20.|SECURED DEBTS|||||||
||The following secured debts||are included|within|creditors:|||
|||||||2022|2021|
|||||||E|E|
||Hire purchase
contracts|||||18,933|24,473|
||The hire purchase
debt is secured on the|||related assets.||||
##
##
|MOVEM|ENT|IN FUNDS|||||
|---|---|---|---|---|---|---|
||||||Net||
||||||movement|At|
|||||At 1/4/21|in funds|31/3/22|
|||||E|E|f|
|Unrestricted||funds|||||
|General|fund|||90,151|7,801|97,952|
|Restricted funds|||||||
|Enrichment||programme||20,000|(20,000)||
|Uniform|and|tack fund||11,200|(5,510)|5,690|
|Gerald|Leigh|Charitable|Trust||14,310|14,310|
|||||31,200|(11,200)|20,000|
|TOTAL|FUNDS|||121,351|(3,399)|117,952|
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
|||||E|E|f|
|Unrestricted||funds|||||
|General|fund|||530,645|(522,844)|7,801|
|Restricted funds|||||||
|Enrichment||programme|||(20,000)|(20,000)|
|Uniform|and|tack fund||5,690|(11,200)|(5,510)|
|Anne Duchess ofWestminster||||10,000|(10,000)||
|Gerald|Leigh|Charitable|Trust|14,310||14,310|
|||||30,000|(41,200)|(11,200)|
|TOTAL|FUNDS|||560,645|(564,044)|(3,399)|
##
##
|||||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|
||||E|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|
|TOTAL FUNDS|||612,795|(547,337)|65,458|
##
||||||Net||
|---|---|---|---|---|---|---|
||||||movement|At|
|||||At 1/4/20|in funds|31/3/22|
|||||E|f|E|
|Unrestricted||funds|||||
|General|fund|||55,893|42,059|97,952|
|Restricted funds|||||||
|Uniform|and|tack fund|||5,690|5,690|
|Gerald|Leigh|Charitable|Trust||14,310|14,310|
||||||20,000|20,000|
|TOTAL|FUNDS|||55,893|62,059|117,952|
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
||||E|E|E|
|Unrestricted|funds|||||
|General fund|||1,106,240|(1,064,181)|42,059|
|Restricted funds||||||
|Enrichment|programme||20,000|(20,000)||
|Uniform and|tack fund||16,890|(11,200)|5,690|
|Kitchen fitout fund|||6,000|(6,000)||
|Anne Duchess ofWestminster|||10,000|(10,000)||
|Gerald Leigh|Charitable|Trust|14,310||14,310|
||||67,200|(47,200)|20,000|
|TOTAL FUNDS|||1,173,440|(1,111,381)|62,059|
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