2023-03-31-accounts

Registered number: 05706817 Charity number: 1116027

EBONY HORSE CLUB

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

EBONY HORSE CLUB

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the charity, its Trustees and advisers	1
Trustees' report	3 - 6
Independent examiner's report	7 - 8
Statement of financial activities	9
Balance sheet	10
Statement of cash flows	11
Notes to the financial statements	12 - 27
The following pages do not form part of the statutory financial statements:
President and Patrons	2

EBONY HORSE CLUB

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees	Susan Margrethe Collins, Chair
	Susan Bridget Ellenby
	Jonathan Evans
	Quailyn Gayadeen
	Oliver Harrison (resigned 5 May 2022)
	Julian White
	Philippa Isobel Buchanan
Company registered number 05706817 Charity registered number 1116027 Registered office 51 Millbrook Road London SW9 7JD Chief Operating Officer Ms Sidony Holdsworth Accountants Maxwell & Co Registered Accountants and Registered Auditors 9 Abbey Business Park Monks Walk Farnham Surrey GU9 8HT Bankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ

Page 1

EBONY HORSE CLUB

(A company limited by guarantee)

PRESIDENT & PATRONS AS AT 31 MARCH 2023

Her Majesty The Queen has been President since 2011.

Patron, Ronke Phillips is Senior Correspondent for ITV News, London. Her work with and understanding of the BAME community is a valued asset to EHC.

Patron,Charlotte Steel is a former member of GB Eventing Team. Her access to the wider equine community provides fundraising and practical opportunities to the club.

Patron, Oli Bell is ITV Racing Presenter. His knowledge of the Horse Racing industry and introductions are invaluable.

Youth Patron, Khadijah Mellah started riding with Ebony Horse Club at the age of 12 and went on to race and win the Magnolia Cup at Goodwood at the age of eighteen whilst also studing for her A levels.She was the youngest winner of the race and the first jockey to ride in a hijab. She is still a key part of the club and inspires other young riders.

Page 2

EBONY HORSE CLUB

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the Ebony Horse Club for the 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies

In setting policies and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Objectives

Ebony Horse Club objectives are to provide children and young people living in Brixton with opportunities through access to horses and related activities. Their purpose is to improve wellbeing and future outcomes by teaching life skills through a structured mentoring programme. In setting objectives, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

Page 3

EBONY HORSE CLUB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

c. Activities

Our FY2023, the first full year following the pandemic, began with a busy Easter holiday programme with demos and workshops at EHC and external visits including a group who went to the Grand National at Aintree where they met our President, formerly HRH The Duchess of Cornwall. They were filmed for a BBC documentary and interviewed for an accompanying article in Country Life magazine , guest edited by Her Royal Highness published in July. In June, ten of our children were proud to be part of Queen Elizabeth 11 Jubilee celebrations forming a Guard of Honour at Ascot Racecourse.

Seven local schools visited us during term time, and we introduced group Groundwork sessions on Fridays for non-ridden activities. Four additional community groups attending ad hoc sessions. We continued our alliance with Join- Up, a method of therapeutic equine therapy, inspired by Monty Roberts, with sessions for young offenders organised with Key4Life. Our work with Ecosystem Coldharbour consortium, funded by the London Mayor’s office, brings together respected community organisations to develop initiatives around violence reduction. Our alliance with other charities working with young people continued with Building Young Brixton, whereby we share knowledge and resources, as well as funding for our common goals. We remain actively involved with The Pony Club, having become a PC centre in 2020. 32 children took their PC badges during the summer holidays, funded by a private donor.

In May, Oliver Harrison resigned as a trustee after 6 years on the board when he was appointed Global Marketing Director at Citi Bank. His advice on branding, marketing, and communications over the years, as well as his fund-raising skills, humour and loyalty, have been invaluable. We thank him for his years of service. Naomi Howgate, our MD for almost five years, left EHC in June. She’s been a big part of our success in bringing EHC to our current position of sustainability and she will be much missed but remains committed to our work. Sidony Holdsworth joined us from the Red Cross as Chief Operating Officer in July and did well to join a busy summer programme that started with a community event at our centre attended by 450 people from the local community.

Our plans to extend into our neighbouring railway arch became a reality when work began to convert it from its derelict state to a functional youth space. Redring Property Services, a local company, were appointed after a bidding round, to be overseen by Redmond Ivie Ltd as architects. It has a private office, a bar area and a central space and will provide a dedicated area for youth work activities. It also has possibilities as an income source during times that we are not using it. The Peter O’Sullevan Trust part-funded the conversion and the arch will be a legacy to his memory. The new arch will extend our membership at our Wyck Gardens centre, but we are in the early stages of discussing an expansion into Southwark. Southwark Council have identified a suitable site in Bermondsey ward with a similar demographic to our Brixton site. In November we took part in consolations with the local community in Southwark. This expansion, into our neighbouring borough would be a considerable commitment but would provide another group of young people with opportunities. .

Although we ended FY2023 with a healthy balance sheet, it continued to be an unpredictable economic arena in terms of securing funding. Our association with the racing syndicate, ‘Friends of Ebony’, organised by Sir Francis Brooke, the King’s Representative at Ascot, has generated some considerable private donations. Our families and staff have been deeply affected by the rise in cost of living that began in the autumn, and we’ve been able to refer them to support services through our contacts in Lambeth. We believe that our outcomes which includes five young people currently working in the Racing industry, two young women qualifying as paramedics, are testament to our work. Our Youth team support entry to the workplace, and despite the challenges, it has been a positive year for the charity.

Page 4

EBONY HORSE CLUB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

(continued)

a. Financial summary

Ebony Horse Club finished the year with a deficit of £45,218, (2022 surplus: £282,894) This was caused by materially higher expenditure relating to horse and staff costs. Going forward, with the current economic crisis and inflation at its peak, we anticipate a drop in donations and likely increase in operating costs, so the year may close on a substantial deficit. Fortunately, as a result of a few good years, we have sufficient surplus to cover this shortfall.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

It is the policy of the charity that unrestricted funds should be maintained at a level of between 3 and 6 months expenditure.

Structure, governance and management

a. Constitution

Ebony Horse Club is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Financial risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Members' liability

The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Page 5

EBONY HORSE CLUB IA ¢t)mpany limited by guarJntse) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Engagement Tlth amployees and 0mploym￿rt of the dlsablod Employees have been consulted on issues of COTr￿￿ to them by means of regular consullalive committee and staff meetings and have been kept informed on specific matter$ diredly by management. The charity Carries out exit interviews for 811 staff leaving the organisalion and has adopted a proceduro of upward feedback for 8fynior management and tho Trustees. Tha charity implemented a number of detaibj polKies in rdation to all aspects of pertonr￿1 matterd including.. Equal opportunities wlicy Volunteers. policy Heatth & safety policy In accordance wth the charty's equal opportunit￿S policy, the charity has long-established fair employment practices in the re¢witmenl, selectb)n. r8tenlitin and trainin9 01 di6abbJ staff. Ful details ofthe8a poliues are av8llabl8 the chanV8 office8. Statement of Tru$t••s' rospon$lblll¢l The Trustees (who are also the directors of the charity for the purposes of company lawl are responsible for preparing the Trustees. report and the financial slalemenls in accordance wrth appb'cable law and Unrted Kingdom Ac¢ounling Standard5 IUnf(ed Kingd¢yn Generalty A¢¢¢pt¢d Aecounting Pradi¢g)- C(mpany law wuires the Trustees lo prepare financial statemonts for exh financial . Under company lth¥, the Trustees musl not approve the financial stslemenls unless they are SatiS￿d that they give a true and fair view of the stale of affairs of the charty and of 116 incoming resour¢e$ and application of resources. including rt8 income and expendf(ure, for that period. In preparing these financial slalements, the Twslees are required to." select surtable accounting policies and then apply them consistently,. observe the meth¢xls and principlos of the Charities SORP IFRS 1021.. make judgments and accounting eslimales that are reasonable and prudent., stste whether appli￿ble UK Accounting Standards IFRS 1021 have foll¢)wad, subjed to any material departUTes dI￿1¢)sed and explained in the financial statements,. prepare the financial statements on the gosng concem b8618 unless it is inappropriate to presume that the chanty will continue in business. The Trustees gre responsible for keeping adequate a￿Unting records that are sufficient lo $h¢JW arml explwn the charit¥s transactions and disclose with reasonable ac¢ura¢y * any lime tho financial position of the charlty and enable them io ensure that the financwl statements comply wlh the Companies Act 2c￿. They are responsib￿ for safegL6arding the assets of the charity and henee for t8king reason&Jle steps for the prevent￿ft and deteCt￿)n of fraud and other irwul8rl￿$. Approved by order ofthe nEmbers of the board of Tru$teos on and signed on their beh￿f by.. Page 6

EBONY HORSE CLUB

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Independent examiner's report to the Trustees of Ebony Horse Club ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Page 7

EBONY HORSE CLUB

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Signed:

Hugh Maxwell

Dated:

Chartered Accountant

9 Abbey Business Park Monks Walk Farnham Surrey GU9 8HT

Page 8

EBONY HORSE CLUB

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note Income from: Donations and grants 3 Riding fees and other income Investments 6 Total income Expenditure on: Charitable activities: Riding stables Governance . Fund raising evens Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2023 £ 264,871 18,406 5,766 289,043 268,404 17,440 3,048 288,892 151 980,285 151 980,436	Restricted funds 2023 £ 189,194 - - 189,194 231,563 1,000 2,000 234,563 (45,369) 638,594 (45,369) 593,225	Total funds 2023 £ 454,065 18,406 5,766 478,237 499,967 18,440 5,048 523,455 (45,218) 1,618,879 (45,218) 1,573,661	Total funds 2022 £ 692,540 14,913 202
				707,655
				409,263 15,508 -
				424,771
				282,884
				1,335,995 282,884
				1,618,879

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 12 to 27 form part of these financial statements.

Page 9

EBONY HORSE CLUB IA company Ilmltod by guarantee) REGISTERED NUMBER,. 05706817 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note Flxod assots Tangibte assots 14 706A78 666,952 705,478 666.952 Detrtors Cash at bank and In hand 15 38,378 936,083 26,839 1.015. 158 974,459 1,041.997 Creditots.. amounts falliNJ due within one 16 1106,278) (90,070) 868,183 951,927 Total a880ts les• curr•nl Ilabllltle8 1,$73,661 1.618.8T9 Net assgts excludlng pgnslon as80t 1.573.661 1.618.879 Total not ao0ts 1,573.661 1.618,879 Charlty funds Restricted funds Unrestricted fundi 17 17 593,225 980,285 Total fund# 1.5T3.661 1.618.879 The tharity wa• onliw to exemption fr(Mn audit under so¢tion 477 ofthe Companies Ad 2008. The members have not required the company to obtain an audit for the year in question In a¢¢Ordar￿ with section 476 of Companies Act 20C6. The Trust¢e8 acknvwbjge their Rspon81bilrtw for c¢￿np￿.n9 with the requirements ofthe Ad ith respd to counting records and preparatK)n of financ￿1 statements. The financial Sthteff￿t$ have been preparod in accO￿ance wth th8 proviw)ns applicablg to entities 8ubiect lo the small corrpanies rogime. Th6 financial 8tatam8n18 were approved and aUthor￿e£l for i88ue by the Trustees on and signed on their beh8M by. The note8 on pages 12 to 27 form wt olltro80 ffinanaal sts1¢m￿lS. Pag8 10

EBONY HORSE CLUB

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 12 to 27 form part of these financial statements	2023 £ 17,603 3,750 (100,428) (96,678) - - (79,075) 1,015,158 936,083	2022 £ 353,952 4,700 (34,300) (29,600) (5,000) (5,000) 319,352 695,806 1,015,158

Page 11

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Ebony Horse Club is a private company limited by guarantee domiciled in England and Wales.The registered office is at 51 Millbrook Road London SW9 7JD.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ebony Horse Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 12

(A company limited by guarantee)

EBONY HORSE CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Short-term leasehold property	- Over the period of the lease
Horses	- 33% straight line
Fixtures and fittings	- 25% straight line
Computer equipment	- 25% straight line

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 13

(A company limited by guarantee)

EBONY HORSE CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 14

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income from donations and grants

Unrestricted funds 2023 £ Donations and grants 264,871 Unrestricted funds 2022 £ Donations and grants 530,277	Restricted funds 2023 £ 189,194 Restricted funds 2022 £ 162,263	Total funds 2023 £ 454,065
		Total funds 2022 £ 692,540

Page 15

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Grants and donations - unrestricted

Benchmark Sport Limited Bedmax Limited Brunswick Group Goldman Sachs Glyn Charitable Foundation IGY Foundation Jack Peachey Foundation John Laing Charitable Trust London Borough of Lambeth Mayor's Charity London Community Foundation Lord Vestey Marks & Spencer Plc Maisonic Charitable Foundation The Wychbold Charitable Trust The Brown Sorce Trust The Derby Club Tudor Capital Europe LLP Items under £1,000 Donations Total 2021

2023 £ 9,000 3,000 5,000 20,000 1,430 50,000 1,200 1,000 7,514 4,167 3,617 1,000 1,000 5,000 15,000 2,000 1,000 4,563 129,380

264,871

Page 16

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Grants -restricted

Allegra's Ambition Ascot Racecourse Limited BRS Education Limited Greater London Authority Ecosystem Hialary Peachey Derrill Alatt Horlock Educational Trust High Tree Community Jack Peachey Foundation J H Rausing Trust London Borough of Lambeth The Prudence Trust Petplan London Community Foundation The Underwood Trust The Worship Company of Loriners Items under £1,000 Total 2023	Opening deferred 2023 £ 8,375 - - - - 3,333 4,000 4,167 9,797 - - - - - 4,167 - 4,500 - 38,339	Receivable 2023 £ - 1,600 1,000 13,506 20,700 - - 6,666 42,980 1,800 16,667 16,500 16,000 15,000 - 6,250 - 550 159,219	Closing deferred 2023 £ - - - - - - - (833) (3,364) - - - - - (4,167) - - - (8,364)	Total funds 2023 £ 8,375 1,600 1,000 13,506 20,700 3,333 4,000 10,000 49,413 1,800 16,667 16,500 16,000 15,000 - 6,250 4,500 550
				189,194

6. Investment income

	Unrestricted	Total
	funds	funds
	2023	2023
	£	£
Investment income - local cash	5,766	5,766

Page 17

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Investment income (continued)

Investment income - local cash Riding Stables - Direct Costs Computer and IT Depreciation Loss (profit) on disposal of fixed assets Horse expenditure Insurance Licences and permits Miscellaneous Staff Costs Staff training and recruitmennt Printing, postage and stationery Property costs Repairs Staff welfare Travel Website Young people	Unrestricted funds 2022 £ 202 2023 £ 8,783 58,236 (83) 73,471 7,872 433 2,840 249,263 3,933 2,410 46,776 20,645 2,657 1,860 50 20,821 499,967	Total funds 2022 £ 202
		2022 £ 6,819 55,663 864 49,201 7,386 1,091 2,173 211,639 4,985 1,539 35,448 11,800 1,743 662 - 18,250
		409,263

7. Riding Stables - Direct Costs

Page 18

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. Governance costs

Accountancy Bank charges Examiners fees Professional	2023 £ 10,650 496 1,200 6,094 18,440	2022 £ 10,516 301 1,440 1,392
		13,649

9. Riding Stables - Direct Costs - Allocation

Unrestricted funds 2023 £ Computer and IT 7,283 Depreciation 12,865 Loss on disposal of fixed assets (83) Horse expenditure 13,892 Insurance 311 Licences and permits - Miscellaneous 2,840 Staff Costs 161,927 Staff training and recruitment 2,555 Printing, postage and stationery 1,910 Property costs 44,209 Repairs 20,645 Staff welfare - Travel - Website 50 Young people - Total 2023 268,404	Restricted funds 2023 £ 1,500 45,371 - 59,579 7,561 433 - 87,336 1,378 500 2,567 - 2,657 1,860 - 20,821 231,563	Total funds 2023 £ 8,783 58,236 (83) 73,471 7,872 433 2,840 249,263 3,933 2,410 46,776 20,645 2,657 1,860 50 20,821
		499,967

Page 19

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Independent examiner's remuneration

	2023	2022
	£	£
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts	1,200	1,200

11. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2023 £ 231,509 13,415 4,342 249,266	2022 £ 196,543 11,197 3,900
		211,640

The average number of persons employed by the charity during the year was as follows:

Operational and administration staff The average headcount expressed as full-time equivalents was: Operational and administration staff	2023 No. 12 2023 No. 12	2022 No. 10
		2022 No. 10

No employee received remuneration amounting to more than £60,000 in either year.

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .

13. Taxation

The charity is not subject to tax as all of its activities are for charitable purposes.

Page 20

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Tangible fixed assets

Short-term leasehold property £ Cost or valuation At 1 April 2022 1,148,932 Additions 85,274 Disposals - At 31 March 2023 1,234,206 Depreciation At 1 April 2022 498,798 Charge for the year 45,370 On disposals - At 31 March 2023 544,168 Net book value At 31 March 2023 690,038 At 31 March 2022 650,134 Debtors Due after more than one year Other debtors Due within one year Trade debtors Other debtors Prepayments and accrued income	Horses £ 40,676 12,450 (5,500) 47,626 24,826 11,867 (1,833) 34,860 12,766 15,850	Fixtures and fittings £ 36,674 1,800 - 38,474 35,706 772 - 36,478 1,996 968		Computer equipment £ 7,489 904 - 8,393 7,489 226 - 7,715 678 - 2023 £ 2,243 5,872 5,821 24,440 38,376	Total £ 1,233,771 100,428 (5,500) 1,328,699 566,819 58,235 (1,833) 623,221 705,478 666,952 2022 £ - 14,682 1,500 10,657 26,839

15. Debtors

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EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Accruals and deferred income Deferred income at 1 April 2022 Resources deferred during the year Amounts released from previous periods	2023 £ 10,614 - 95,662 106,276 2023 £ 75,007 87,008 (75,007) 87,008	2022 £ 2,849 3,824 83,397 90,070 2022 £ 77,595 75,007 (77,595) 75,007

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EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds - all funds Restricted funds Restricted Fund 1 Total of funds	Balance at 1 April 2022 £ 980,285 638,594 1,618,879	Income £ 289,043 189,194 478,237	Expenditure £ (288,892) (234,563) (523,455)	Balance at 31 March 2023 £ 980,436
				593,225
				1,573,661

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EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Statement of funds (continued)

Statement of funds - prior year

General Funds - all funds Restricted Fund 1 Total of funds	Balance at 1 April 2021 £ 654,031 681,964 1,335,995	Income £ 545,392 162,263 707,655	Expenditure £ (219,138) (205,633) (424,771)	Balance at 31 March 2022 £ 980,285
				638,594
				1,618,879

18. Summary of funds

Summary of funds - current year

General funds Restricted funds Summary of funds - prior year General funds Restricted funds	Balance at 1 April 2022 £ 980,285 638,594 1,618,879 Balance at 1 April 2021 £ 654,031 681,964 1,335,995	Income £ 289,043 189,194 478,237 Income £ 545,392 162,263 707,655	Expenditure £ (288,892) (234,563) (523,455) Expenditure £ (219,138) (205,633) (424,771)	Balance at 31 March 2023 £ 980,436 593,225
				1,573,661
				Balance at 31 March 2022 £ 980,285 638,594
				1,618,879

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EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2023 £ Tangible fixed assets 15,440 Debtors due after more than one year 2,243 Current assets 972,216 Creditors due within one year (9,463) Total 980,436	Restricted funds 2023 £ 690,038 - - (96,813) 593,225	Total funds 2023 £ 705,478 2,243 972,216 (106,276) 1,573,661

Analysis of net assets between funds - prior year

Tangible fixed assets Current assets Creditors due within one year Total	Unrestricted funds 2022 £ 16,817 1,015,198 (51,730) 980,285	Restricted funds 2022 £ 650,135 26,799 (38,340) 638,594	Total funds 2022 £ 666,952 1,041,997 (90,070) 1,618,879

Page 25

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges (Profit) loss on sale of fixed assets (increase) decrease in debtors Increase (decrease) in creditors Net cash provided by operating activities	2023 £ (45,218) 58,236 (83) (11,537) 16,205 17,603	2022 £ 282,884
		55,663 864 13,060 1,481
		353,952

21. Analysis of cash and cash equivalents

	2023	2022
	£	£
Cash in hand	936,083	1,015,158

22. Analysis of changes in net debt

Cash at bank and in hand	At 1 April 2022 £ 1,015,158 1,015,158	Cash flows £ (79,075) (79,075)	At 31 March 2023 £ 936,083
			936,083

23. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £4,342 (2022 - £3,900).There were no funds payable to the fund at the balance sheet (2022 - £nil)

Page 26

EBONY HORSE CLUB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24. Operating lease commitments

At 31 March 2023 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

			2023	2022
			£	£
Later than	5	years	419,448	400,473

The following lease payments and changes in lease payments have been recognised in the Statement of financial activities:

	2023	2022
	£	£
Operating lease rentals	29,014	23,250
Changes in lease payments arising from COVID-19 related rent
concessions	-	-

25. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £NIL for the debts and liabilities contracted before he/she ceases to be a member.

Page 27