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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|Io|8|
|Independent
Examiner's
Report||||
|Statement of Financial Activities||||
|Statement ofFinancial Position|11|Io|12|
|Statement ofCash Flows||13||
|Notes tothe Statement ofCash Flows||14||
|Notes to the Financial Statements|15|to|22|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
||||Notes|funds
f|funds
6|funds
f|funds
6|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||2|180,160||180,160|236,036|
|Charitable
activities||||||||
|Retraining
and rehoming|ofex-racehorses|||15,876|156,000|171,876|90,690|
|Other trading
activities|||3|381,063||381,083|212,197|
|Investment
income|||4|52||52|8|
|Other income||||12,272||12,272|21,714|
|Total||||589423|156,000|745,423|560645|
|EXPENDITURE ON||||||||
|Raising funds|||6|27,937||27,937|200|
|Charitable
activities|||7|||||
|Retraining
and rehoming|of ex-racehorses|||492 070|175,250|667320|~563844|
|Total||||520,007|175,250|695257|564 044|
|NET INCOMEI(EXPENDITURE)||||69,416|(19,250)|50,166|(3,399)|
|RECONCILIATION
OF FUNDS||||||||
|Total funds broughtforward||||97,952|20,000|117,952|121,351|
|TOTAL FUNDS CARRIED FORWARD||||167,368|750|168118|~117952|
##
||||STATEMENT OF|CASH FLOWS||
|---|---|---|---|---|---|
|||FOR|THE YEAR ENDED 31 MARCH 2023|||
|||||2023|2022|
||||Notes||5|
|Cash flows from operating||activities||||
|Cash generated
from operations|||1|~17,033)|~15,744)|
|Net cash used
in operating||activities||~17,033)|~15,744)|
|Cash flows from investing||activities||||
|Purchase oftangible
fixed assets
Interest received||||(13,197)
52|(10,336)
8|
|Net cash used
in investing|activities|||~13,145)|~10328)|
|Cash flows from financing||activities||||
|Capital repayments
in year||||~7,684)|~5,540)|
|Net cash used
in financing|activities|||~7684)|~5,540)|
|Change
in cash and cash||equivalents||||
|in the reporting
period
Cash and cash equivalents||at the||(37,862)|(31,612)|
|beginning
ofthe reporting||period||~98 127|129,739|
|Cash snd cash equivalents||at the end||||
|ofthe reporting
period||||60265|98127|
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|RECONCILIATION
ACTIVITIES|OF NE|T INCOME/(EXPE|NDITURE)
TO NET CASH|FLOW FROM|OPERATING|
|---|---|---|---|---|---|
|||||2023|2022|
|||||5|6|
|Net income/(expenditure)
forthe reporting
Statement ofFinancial Activities)
Adjustments
for:|||period (as per the|50,166|(3,399)|
|Depreciation
charges
Interest received
Increase
in stocks
Increase in debtors
(Decrease)/increase|in creditors|||23,286
(52)
(45,700)
(38,956)
~5,777|22,809
(8)
(32,850)
(9,653)
7,357|
|Net cash used
in operations||||~17033)|~15,744)|
|ANALYSIS OF CHANGES||IN NET DEBT||||
||||At 1/4/22|Cash fiow|At 31/3/23|
|Net cash|||6|6|8|
|Cash at bank|||98,127|~37,862|60,265|
||||98,127|~37862)|60,265|
|Debt||||||
|Finance leases
Debts falling due within
1 year
Debts falling due after 1 year|||(18,933)
(102,500)
~47,500|5,540
70,000
(67,856)|(13,393)
(32,500)|
||||(1~68,933|7,684|(161,249)|
|Total|||~70 806|(30,178)|(100,984)|
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|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|||
|---|---|---|---|
|||2023|2022|
|||F||
|Retraining
ofracehorses
Incoming horses
Donations - other
Recognition
ofbloodstock
Grants
Legacies||18,500
6,000
70,424
24,700
60,536|8,500
4,000
22,224
28,350
172,962|
|||180,160|236036|
|Grants received,
included|in the above, are as follows:|||
|||2023
f|2022
F|
|Government
support- CJRS
Racing Foundation - COVID support|||3,155
169807|
||||172962|
|OTHER TRADING ACTIVITIES||||
|||2023|2022|
|||F|8|
|Fundraising
events||85,361|38,221|
|Payments
forgoods and and services
Subscnptions
Lease and sale ofhorses||5,795
7,801
8,150|8,941
7,936
8,925|
|Education
and training||273956|~148 174|
|||381 063|212,197|
|||||HEROS|HEROS|HEROS|HEROS|HEROS||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||NOTES TO THE FINANCIAL STATEMENTS -continued||||||||
||||||FOR THE YEAR ENDED|||31 MARCH 2023||||
|4.|INVESTMENT INCOME|||||||||||
||||||||||2023||2022|
||||||||||6||F|
||Deposit account interest|||||||||52|8|
||INCOME|FROM CHARITABLE ACTIVITIES||||||||||
||||||||||2023||2022|
|||||||Activity|||F||F|
|||||||Retraining|and rehoming|ofex-||||
||Grants|||||racehorses|||171,876||90690|
|8.|RAISING|FUNDS||||||||||
||Rai'sing donations|||and|legacies|||||||
||||||||||2023
F||2022
f|
||Other||||||||27,937||200|
|7.|CHARITABLE ACTIVITIES|||||COSTS||||||
||||||||||Support|||
|||||||||Direct|costs (see|||
|||||||||Costs|note|8)|Totals|
|||||||||F|F||E|
||Retraining||and rehoming||of|ex-||||||
||racehorses|||||||661,372|5,948||667,320|
|8.|SUPPORT||COSTS|||||||||
||||||||||||Governance|
||||||||||||costs|
||||||||||||f|
||Retraining|and rehoming|||of|ex-||||||
||racehorses||||||||||5,948|
|9.|NET INCOME/(EXPENDITURE)|||||||||||
||Net income/(expenditure)||||is|stated after|charging/(crediting):|||||
||||||||||2023
f||2022f|
||Depreciation||-owned assets||||||23,286||22,809|
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|STAFF COSTS|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023
6|2022
f|
|Wages and salaries|||||||||145,662|124,085|
|Social security costs|||||||||4,629|3489|
||||||||||150,291|127,574|
|The average
monthly|number||ofemployees|||during|the year|was as follows:|||
||||||||||2023|2022|
|Total|||||||||9|6|
|No employees
received||emoluments|||in excess of||660,000.||||
|Key Management
Personnel|||||||||||
|Key management
personnel|||include||all persons||that have|authority
and responsibility||for planning,|
|directing,
and controlling||the|activities||ofthe|charity. The total compensation|||paid to key|management|
|personnel
for services|provided|||to the|charity was||F32,019(2022:F32,076).||||
|COMPARATIVES FOR||THE|STATEMENT OF FINANCIAL|||||ACTIVITIES|||
|||||||||Unrestricted|Restricted|Total|
|||||||||funds|funds|funds|
|||||||||F|E|6|
|INCOME AND ENDOWMENTS||||FROM|||||||
|Donations
and legacies||||||||236,036||236,036|
|Charitable
activities|||||||||||
|Retraining
and rehoming||ofex-racehorses||||||60,690|30,000|90,690|
|Other trading
activities||||||||212,197||212,197|
|Investment
income||||||||8||8|
|Other income||||||||21 714||21,714|
|Total||||||||~530645|~30 000|560,645|
|EXPENDITURE ON|||||||||||
|Raising funds||||||||200||200|
|Charitable
activities|||||||||||
|Retraining
and rehoming||ofex-racehorses||||||~522 644|41200|563,844|
|Total||||||||522 844|41,200|564 044|
|NET INCOME/(EXPENDITURE)||||||||7,801|(11,200)|(3,399)|
##
|12.|COMPARATIVES|FOR|THE STATEMENT OF FINANCIAL|ACTIVITIES -continued|ACTIVITIES -continued||
|---|---|---|---|---|---|---|
|||||Unrestdcted|Restricted|Total|
|||||funds|funds|funds|
|||||5|8|F|
||RECONCILIATION|OF|FUNDS||||
||Total funds brought|forward||90,151|31,200|121,351|
||TOTAL FUNDS CARRIED FORWARD|||97,952|~20 000|117952|
|13.|TANGIBLE FIXED|ASSETS|||||
|||||Fixtures|||
||||Plant and|and|Computer||
||||machinery|fittings|equipment|Totals|
||||F|F||8|
||COST||||||
||At 1 April 2022||3,450|133,837|23,554|160,841|
||Additions|||13,197||13,197|
||At 31 March 2023||3,450|147034|~23554|174038|
||DEPRECIATION||||||
||At 1 April 2022||3,450|84,288|22,945|110,683|
||Charge foryear|||22 765|521|~23 286|
||At 31 March 2023||~3450|107053|~23466|133,969|
||NET BOOK VALUE||||||
||At 31 March 2023|||~39 981|88|~40 069|
||At 31 March 2022|||49549|609|50 158|
|14.|STOCKS||||||
||||||2023|2022|
||||||5|8|
||Stocks||||~180050|134,350|
|15.|DEBTORS:ANIOUNTS||FALLING DUE WITHIN ONE YEAR||||
||||||2023|2022|
||||||8|6|
||Trade debtors||||43,425|21,778|
||VAT||||38,461|21,152|
||||||81,886|42,930|
##
|||NOTE
|S TO THE FINANCIAL STATEMENTS -continued
FOR THE YEAR ENDED 31 MARCH 2023|S TO THE FINANCIAL STATEMENTS -continued
FOR THE YEAR ENDED 31 MARCH 2023|S TO THE FINANCIAL STATEMENTS -continued
FOR THE YEAR ENDED 31 MARCH 2023||
|---|---|---|---|---|---|---|
|16.|CREDITORS:|AMOUNTS|FALLING DUE WITHIN ONE YEAR||||
||||||2023|2022|
|||||||6|
||Bank loans and overdrafts||(see note 18)||32,500|102,500|
||Hire purchase|(see note 19)|||5,540|5,540|
||Trade creditors||||24,409|32,607|
||Social security|and other|taxes||5,062|2,938|
||Accruals and deferred
income||||3,432|3135|
||||||~70 943|146,720|
|17.|CREDITORS:|AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||2023|2022|
||||||F|8|
||Bank loans (see note 18)||||115,356|47,500|
||Hire purchase|(see note 19)|||7853|13393|
||||||123,209|60,893|
|18.|LOANS||||||
||An analysis ofthe maturity||of|loans is given below:|||
||||||2023
F|2022
f|
||Amounts
falling|due within|one year on demand;||||
||Bank loans||||32,500|102500|
||Amounts
failing|between one||and two years:|||
||Bank loans - 1-2years||||~35 000|10,000|
||Amounts
falling|due between||two and tive years:|||
||Bank loans -2-5 years||||80 356|37,500|
|19.|LEASING AGREEMENTS||||||
||Minimum
lease|payments|under hire purchase||fall due as follows:||
||||||2023
f|2022
f|
||Net obligations|repayable:|||||
||Within one year||||5,540|5,540|
||Between one and five years||||7,853|13,393|
||||||13,393|~18 933|
##
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|The following|secured d|ebts are i|ncluded
within creditors:||||
|---|---|---|---|---|---|---|
||||||2023|2022
f|
|Hire purchase|contracts||||13,393|18933|
|The hire purchase debt||is secured|on the related assets.||||
|MOt/EMENT|IN FUNDS||||||
||||||Net||
||||||movement|At|
|||||At 1/4/22|in funds|31/3/23|
|||||||E|
|Unrestricted|funds||||||
|General
fund||||97,952|69,416|167,368|
|Restricted funds|||||||
|Uniform
and tack fund||||5,690|(5,690)||
|Gerald Leigh|Charitable|Trust||14,310|(14,310)||
|Groundworks|UK||||750|750|
|||||20,000|~19,250||
|TOTAL FUNDS||||117952|50 166|~168118|
|Net movement|in funds,|included|in the above are as follows;||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||8||E|
|Unrestricted|funds||||||
|General
fund||||589,423|(520,007)|69,416|
|Restricted funds|||||||
|Enrichment
programme||||30,000|(30,000)||
|Uniform
and tack fund|||||(5,690)|(5,690)|
|Gerald Leigh|Charitable|Trust|||(14,310)|(14,310)|
|ROR RAP
Groundworks|UK|||125,000
1,000|(125,000)
~250)|750|
|||||156000|~175,250|19,250|
|TOTAL FUNDS||||~745423|~695257)|50,166|
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