REGISTERED COMPANY NUMBER: 05753081 (England and Wales) REGISTERED CHARITY NUMBER: 1117361
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THE RACEHORSE SANCTUARY LTD
F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD
THE RACEHORSE SANCTUARY LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
THE RACEHORSE SANCTUARY LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Objectives of the Charity are:
a. To offer thoroughbred racehorses a chance at a second career/home when they are retired from racing or are unable to continue.
b. To relieve suffering of injured, sick and neglected racehorses and to provide sanctuary or to rehome suitable horses no longer able to fulfil their purpose in the racing industry.
- c. To liaise with trainers to identify suitable horses.
d. To increase awareness of the public of the potential of former racehorses and to help to educate the public in horse welfare and the prevention of cruelty and suffering.
e. All such things that will further the attainment of these objects subject to the provision that nothing will be done that will prevent the objects of the charity being deemed to be charitable.
Aims
The Aims of the Charity are:
The principle objective of the charity is to offer thoroughbred former racehorses, whether fit or injured, regardless of age, rehoming or sanctuary.
Once the horse has been assessed and been through a tailored rehabilitation program, the Charity actively tries to rehome the majority of horses in our care. Potential homes are carefully assessed by our Welfare and Rehoming Officer with the aim of matching the horse to the potential new home and new keeper.
The Racehorse Sanctuary continue to make progress in improving the property to aid the rehabilitation of ex-race horses and continue to provide the highest levels of care to horses with 15 stables, a horse walker and fundraising plans are in place for an arena to help further with rehabilitation and rehoming.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in the planning of future activities.
The Trustees believe that the paragraphs under the headings of "Objectives and Activities" and "Achievements and Performance" relate in detail the benefit that the charitable company provides to the public.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Racehorse Sanctuary and Re-homing Centre returned to West Sussex in December 2018, to a property that was available at a modest rental but in need of considerable refurbishment. This work has continued throughout 2020/2021 with some considerable progress being made including progress to install a horse-walker to aid the rehabilitation programme. The 15 looseboxes are now in good repair. Fencing has continued with most paddocks now completed.
FINANCIAL REVIEW
Financial position and Reserves
The charity had the benefit of an increase in unrestricted activities of £22,300 and this has been added to the last year’s reserves to give positive reserves of £65,539 to be carried forward. 2021/22 continued to prove difficult with very limited fund raising events carried out due to covid-19 restrictions. However, the charity benefited from several legacies which allowed the charity to continue its day to day activities.
Page 1
THE RACEHORSE SANCTUARY LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
FINANCIAL REVIEW
Financial Outlook
The outlook for this year looks more positive that last due to covid restrictions being lifted and allowing the charity to host several summer events such as the annual race day which is a substantial fundraiser that has been missed for the last couple of years. The Trustees continue to look for further grant opportunities to help with the construction of an arena and other general operating expenses. The focus this year will be on sourcing suitable horses to retrain and rehome to grow our publicity within the horse racing industry with the view of attracting new sponsors.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 23 March 2006 as amended by special resolutions dated 2 November 2006 and 19 December 2006.
Recruitment and appointment of new trustees
The Trustees (Directors for Companies Act Purposes) are listed in this report.
The Charity is governed by a board of Trustees, the majority of whom are non-executive and are responsible for creating and monitoring key policies and strategy.
The number of Directors shall not be less than three but (when otherwise determined by ordinary resolution) shall not be subject to any maximum.
The first Directors shall be these persons notified to Companies House as the first directors, and the Charity may by ordinary resolution:
-
(a) Appoint a person who is willing to act to be a Director; and
-
(b) Determine the rotation in which any additional Directors are to retire.
One third (or the number nearest to one third) of the Directors must retire at each AGM, but a retiring Director should be eligible for re-election.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05753081 (England and Wales)
Registered Charity number
1117361
Registered office
50 Quarry Street Guildford Surrey GU1 3UA
Trustees
Ms S Halson-Brown (resigned 8.12.21) Ms C Mcilwraith Ms S Moore Ms L Murray E B O'Reilly Hyland Ms J E Kindred (resigned 6.5.21)
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THE RACEHORSE SANCTUARY LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Christopher Robert Tyler FCA DChA FCIE Institute of Chartered Accountants in England and Wales F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD
Bankers
Lloyds TSB Bank Plc 1 West Street Horsham West Sussex RH12 1PA
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Racehorse Sanctuary Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 12 January 2023 and signed on its behalf by:
Ms C Mcilwraith - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RACEHORSE SANCTUARY LTD
Independent examiner's report to the trustees of The Racehorse Sanctuary Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Christopher Robert Tyler FCA DChA FCIE Institute of Chartered Accountants in England and Wales F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD
13 January 2023
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THE RACEHORSE SANCTUARY LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 120,818 Charitable activities Sanctuary income 9,420 Other trading activities 3 11,160 Investment income 4 1 Total 141,399 EXPENDITURE ON Raising funds 6 297 Charitable activities 7 Sanctuary expenditure 118,802 Total 119,099 NET INCOME/(EXPENDITURE) 22,300 RECONCILIATION OF FUNDS Total funds brought forward 43,239 TOTAL FUNDS CARRIED FORWARD 65,539 |
Restricted funds £ - - - - - - 13,818 13,818 (13,818) 17,708 3,890 |
2022 Total funds £ 120,818 9,420 11,160 1 141,399 297 132,620 132,917 8,482 60,947 69,429 |
2021 Total funds £ 116,764 124,685 11,699 1 253,149 572 168,544 169,116 84,033 (23,086) 60,947 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
THE RACEHORSE SANCTUARY LTD
BALANCE SHEET
31 MARCH 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 13 8,743 - CURRENT ASSETS Debtors 14 66,739 3,890 Cash at bank and in hand 935 - 67,674 3,890 CREDITORS Amounts falling due within one year 15 (10,878) - NET CURRENT ASSETS 56,796 3,890 TOTAL ASSETS LESS CURRENT LIABILITIES 65,539 3,890 NET ASSETS 65,539 3,890 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 8,743 70,629 935 71,564 (10,878) 60,686 69,429 69,429 65,539 3,890 69,429 |
2021 Total funds £ 7,422 213 68,322 68,535 (15,010) 53,525 60,947 60,947 43,239 17,708 60,947 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 January 2023 and were signed on its behalf by:
C Mcilwraith - Trustee
The notes form part of these financial statements
Page 6
THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The Racehorse Sanctuary Ltd 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 note(s).
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trustees/directors have reviewed the position of the financial statements in view of the deficit for the year and the net current liabilities. At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and on that basis the charity is considered to be a going concern.
The trustees have taken advantage of the various sources of Government support during the COVID-19 pandemic and consider that it will not have a significant impact on the company's ability to continue trading. Income from trading activities is expected to reduce due to the lockdown conditions and steps are being taken to make cost savings. The trustees regard any impact to be short term rather than affecting the company's ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Assets donated to the charity have been included at valuation and depreciated over their useful economic life.
No amounts are included in the accounts for services donated by volunteers.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Costs of generating funds - costs incurred in attracting grants, voluntary income and fees.
Charitable expenditure - direct costs incurred in running the sanctuary.
Support costs - governance costs incurred in the governance of the charity and its assets and primarily associated with constitutional and statutory requirements.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lives as follows:
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Horse Box - 20% on cost Tractor - 20% on reducing balance basis Plant and Machinery - 20% on reducing balance basis Furniture and Fittings - 20% on reducing balance basis Leasehold Improvements - Over term of the lease on a straight line basis
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 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 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.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| Donations and legacies Support Group Members 3. OTHER TRADING ACTIVITIES Fundraising events Sponsorships Other 4. INVESTMENT INCOME Deposit account interest |
2022 £ 111,715 9,103 120,818 2022 £ 2,982 4,102 4,076 11,160 2022 £ 1 |
2021 £ 92,860 23,904 |
2021 £ 92,860 23,904 |
|---|---|---|---|
| 116,764 | |||
| 2021 £ 2,108 3,291 6,300 |
|||
| 11,699 | |||
| 2021 £ 1 |
continued...
Page 8
THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 5. INCOME FROM CHARITABLE ACTIVITIES Activity Owner Trainer Donations Sanctuary income New Keeper Donations Sanctuary income Grants Sanctuary income Grants received, included in the above, are as follows: Adoption For Pets The Racing Foundation Pet Plan Billingshurst Parish Council 6. RAISING FUNDS Raising donations and legacies Fundraising costs 7. CHARITABLE ACTIVITIES COSTS Sanctuary expenditure 8. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Insurance Light and heat Telephone Postage and stationery Advertising Sundries Yard Consultancy Feed and Bedding Vet Fees Sundry Yard Expenses Livery and Schooling Farriery Subcontractors Sundry Equine Expenses Carried forward |
2022 2021 £ £ 3,500 16,135 5,920 11,700 - 96,850 9,420 124,685 2022 2021 £ £ - 7,500 - 84,250 - 5,000 - 100 - 96,850 2022 2021 £ £ 297 572 Direct Costs (see note 8) £ 132,620 2022 2021 £ £ - 10,476 2,478 2,365 - 200 92 1,024 9 195 121 188 74 1,007 14,333 43,000 10,609 18,192 5,639 7,808 3,412 3,358 1,786 1,090 3,462 1,305 53,570 43,000 1,136 350 96,721 133,558 |
2021 £ 16,135 11,700 96,850 |
2021 £ 16,135 11,700 96,850 |
|
|---|---|---|---|---|
| 124,685 | ||||
| 2021 £ 7,500 84,250 5,000 100 |
||||
| 96,850 | ||||
| 2021 £ 10,476 2,365 200 1,024 195 188 1,007 43,000 18,192 7,808 3,358 1,090 1,305 43,000 350 |
||||
| 133,558 |
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued
9.
| Brought forward Muck Away Motor Expenses Computer and Internet Repairs and Renewals Depreciation Independent Examiners Fee Bank Charges and Interest Rent Bookkeeping Horse Walker Field Shelter Professional Fees NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2022 £ 96,721 1,928 4,218 3,374 2,608 2,186 1,080 680 7,040 80 12,441 - 264 132,620 2022 £ 2,185 |
2021 £ 133,558 - 5,289 2,831 3,438 2,099 1,320 988 7,040 122 7,461 4,134 264 |
|---|---|---|
| 168,544 | ||
| 2021 £ 2,100 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
11. STAFF COSTS
There were no staff costs during the year.
No employee received emoluments in excess of £60,000.
The charity considers its key management personnel comprises the trustees who received no benefits from the charity.
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 116,764 Charitable activities Sanctuary income 117,185 Other trading activities 11,699 Investment income 1 Total 245,649 EXPENDITURE ON Raising funds 572 Charitable activities Sanctuary expenditure 150,652 Total 151,224 NET INCOME/(EXPENDITURE) 94,425 Transfers between funds (9,000) Net movement in funds 85,425 RECONCILIATION OF FUNDS Total funds brought forward (42,186) TOTAL FUNDS CARRIED FORWARD 43,239 |
Restricted funds £ - 7,500 - - 7,500 - 17,892 17,892 (10,392) 9,000 (1,392) 19,100 17,708 |
Total funds £ 116,764 124,685 11,699 1 253,149 572 168,544 169,116 84,033 - 84,033 (23,086) 60,947 |
|---|---|---|
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
13. TANGIBLE FIXED ASSETS
| Fixtures Plant and and machinery fittings Tractor Horse Box £ £ £ £ COST At 1 April 2021 20,501 960 17,500 52,000 Additions 3,506 - - - At 31 March 2022 24,007 960 17,500 52,000 DEPRECIATION At 1 April 2021 17,577 642 13,320 52,000 Charge for year 1,286 63 836 - At 31 March 2022 18,863 705 14,156 52,000 NET BOOK VALUE At 31 March 2022 5,144 255 3,344 - At 31 March 2021 2,924 318 4,180 - DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other debtors 70,629 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Bank loans and overdrafts (see note 16) 4,679 Trade creditors 4,719 Accruals and deferred income 1,480 10,878 |
Totals £ 90,961 3,506 |
|---|---|
| 94,467 | |
| 83,539 2,185 |
|
| 85,724 | |
| 8,743 | |
| 7,422 | |
| 2021 £ 213 |
|
| 2021 £ - 10,127 4,883 |
|
| 15,010 |
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
16. LOANS
An analysis of the maturity of loans is given below:
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank overdrafts | 4,679 | - |
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds The Racing Foundation The Peter O'Sullevan Trust TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds The Racing Foundation The Peter O'Sullevan Trust TOTAL FUNDS Comparatives for movement in funds At 1.4.20 £ Unrestricted funds General fund (42,186) Restricted funds The Racing Foundation - The Peter O'Sullevan Trust 19,000 Field Shelter 100 19,100 TOTAL FUNDS (23,086) |
At 1.4.21 £ 43,239 6,169 11,539 17,708 60,947 Incoming resources £ 141,399 - - - 141,399 Net movement in funds £ 94,425 (2,831) (7,461) (100) (10,392) 84,033 |
Net movement At in funds 31.3.22 £ £ 22,300 65,539 (2,279) 3,890 (11,539) - (13,818) 3,890 8,482 69,429 Resources Movement expended in funds £ £ (119,099) 22,300 (2,279) (2,279) (11,539) (11,539) (13,818) (13,818) (132,917) 8,482 Transfers between At funds 31.3.21 £ £ (9,000) 43,239 9,000 6,169 - 11,539 - - 9,000 17,708 - 60,947 |
|---|---|---|
continued...
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THE RACEHORSE SANCTUARY LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds The Racing Foundation The Peter O'Sullevan Trust Field Shelter Adoption For Pets TOTAL FUNDS |
Incoming resources £ 245,649 - - - 7,500 7,500 253,149 |
Resources Movement expended in funds £ £ (151,224) 94,425 (2,831) (2,831) (7,461) (7,461) (100) (100) (7,500) - (17,892) (10,392) (169,116) 84,033 |
|---|---|---|
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
19. ULTIMATE CONTROLLING PARTY
The ultimate controlling parties are the trustees/directors.
20. STATUTORY INFORMATION
The Racehorse Sanctuary Ltd is a company is limited by guarantee not having a share capital. In the event of the company being dissolved each member is liable to a maximum of £10 towards the cost of dissolution and liabilities incurred while he/she was a member and for twelve months after ceasing to be a member.
The net assets on dissolution, after all its debts and liabilities have been settled, shall be applied or transferred:
a).Directly for the objects.
b).By transfer to any charity or charities for purposes similar to the objects; or
c).To any charity or charities for use for particular purposes that fall within the objects.
The company's registered office and registered number can be found in the Legal and Administrative Information section of the accounts.
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THE RACEHORSE SANCTUARY LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations and legacies Support Group Members Other trading activities Fundraising events Sponsorships Other Investment income Deposit account interest Charitable activities Owner Trainer Donations New Keeper Donations Grants Total incoming resources EXPENDITURE Raising donations and legacies Fundraising costs Charitable activities Wages Insurance Light and heat Telephone Postage and stationery Advertising Sundries Yard Consultancy Feed and Bedding Vet Fees Sundry Yard Expenses Livery and Schooling Farriery Subcontractors Sundry Equine Expenses Muck Away Carried forward |
2022 £ 111,715 9,103 120,818 2,982 4,102 4,076 11,160 1 3,500 5,920 - 9,420 141,399 297 - 2,478 - 92 9 121 74 14,333 10,609 5,639 3,412 1,786 3,462 53,570 1,136 1,928 98,649 |
2021 £ 92,860 23,904 |
|---|---|---|
| 116,764 2,108 3,291 6,300 |
||
| 11,699 1 16,135 11,700 96,850 |
||
| 124,685 | ||
| 253,149 572 10,476 2,365 200 1,024 195 188 1,007 43,000 18,192 7,808 3,358 1,090 1,305 43,000 350 - 133,558 |
This page does not form part of the statutory financial statements
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THE RACEHORSE SANCTUARY LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 |
||
|---|---|---|
| Charitable activities Brought forward Motor Expenses Computer and Internet Repairs and Renewals Depreciation Independent Examiners Fee Bank Charges and Interest Rent Bookkeeping Horse Walker Field Shelter Professional Fees Total resources expended Net income |
2022 £ 98,649 4,218 3,374 2,608 2,186 1,080 680 7,040 80 12,441 - 264 132,620 132,917 8,482 |
2021 £ 133,558 5,289 2,831 3,438 2,099 1,320 988 7,040 122 7,461 4,134 264 |
| 168,544 | ||
| 169,116 | ||
| 84,033 |
This page does not form part of the statutory financial statements
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