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|||||||||Page|
|---|---|---|---|---|---|---|---|---|
|1.|Introduction||||||||
||a.|Welcome letter|||||||
||b.|The need and our response|||||||
||c.|Who we are and what|we do||||||
|2.|Structure,<br>Governance<br>and Management||||||||
||a.|Constitution|||||||
||b.|Governance<br>overview|||||||
||c.|Board/committee<br>meetings|||||||
||d.|Trustee recruitment,|induction|||and training|||
||e.|Trustee indemnity|||||||
||f.|Management<br>structure||and key||personnel|||
||g.|Policies|||||||
||h.|Safeguarding|||||||
||i.|Fundraising<br>practice|||||||
|3.|Objectives and activities||||||||
||a.|Strategy||||||8|
||b.|Rescue and rehabilitation||||||9|
||c.|Re homing||||||10|
||d.|Discovery Programmes||||||10|
||e.|Collaboration||||||11|
||f.|Fundraising||||||11|
||g.|Public benefit||||||12|
||h.|Our people —staff, volunteers,|||supporters,||loaners|12|
|4.|Achievements<br>and Performance||||||||
||a.|2021against objectives||||||13|
||b.|Challenges<br>and learning||opportunities||||22|
||c.|Overview offuture objectives|||for 2022|||23|
||d.|Thank you messages||||||23|
|5.|Financial|review||||||24|
|6.|Investment<br>Policy|||||||25|
|7.|Reserves|Policy||||||25|
|8.|Principal|risks and uncertainties||||||27|
|9.|Legal and admin|||||||29|
|10.|Trustee|responsibilities||||||30|
|11.|Independent<br>Auditor's<br>report|||||||31|
|12.|Statement of Financial Activities|||||||35|
|13.|Balance|Sheet||||||36|
|14.|Statement of Cash Flows|||||||37|
|15.|Notes to the Financial Statements|||||||38|





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|Welfare measure|Welfare measure||2021|2020|2019|
|---|---|---|---|---|---|
|Total no of equines<br>on site at year end|||109||105|
|including<br>equines<br>in our Discovery programme|||19|19|18|
|No ofequines|on loan at year end||186|195|198|
|No ofequines|reported to us potentially|at risk|608|370|463|
|No ofequines|taken<br>in||40|19|26|
|No ofequines|rehomed||16|20|25|
|No ofequines|returned<br>from loan||14||21'|
|No ofwelfare|reported cases||69||61|





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|For the<br>ear ended 31December 2021|For the<br>ear ended 31December 2021|For the<br>ear ended 31December 2021|For the<br>ear ended 31December 2021|||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||Endowment||Restricted|Unrestricted|Total|Total|
||Note||E|E|E|E|E|
|Income from:||||||||
|Donations<br>and|legacies|3||185,671|923,320|1,108,991|627,987|
|Charitable<br>activities||4|||56,604|56,604|37,102|
|Other trading|activities|5|||55,000|55,000|34,486|
|Investments||6|790||159,735|160,525|150,905|
|Other|||||||18,191|
|Total income|||790|185,671|1,194,659|1,381,120|868,671|
|Expenditure<br>on:||||||||
|Raising funds|||257||427,839|428,096|360,212|
|Charitable<br>activities||||112,249|1,392,316|1,504,565|1,258,700|
|Total expenditure||8|257|112,249|1,820,155|1,932,661|1,618,912|
|Net income/(expenditure)||||||||
|before gains/(losses)|||533|73,422|(625,496)|(551,541)|(750,241)|
|Net gains on investments||15|567||785,953|786,520|293,994|
|Net income / (expenditure)|||1,100|73,422|160,457|234,979|(456,247)|
|Transfers<br>between|funds|||(93,838)|93,838|||
|Net movement<br>in|funds|10|1 100|(20 416)|254 295|234I979|(456 247)|
|Reconciliation<br>of|funds:|||||||
|Total funds<br>brought|forward||38,118|187,945|11,459,831|11,685,894|12,142,141|
|Total funds carried forward|||39,218|167,529|11,714,126|11,920,873|11,685,894|





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|As at 31Decemb|er|2021|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||Note||f.|E|
|Fixed assets|||||||||
|Tangible assets|||||13||3g8041827|3,716,685|
|Intangible<br>assets|||||14|||15,600|
|Investments|||||15||7,590,362|7,171,786|
||||||||11,395,189|10,904,071|
|Current assets|||||||||
|Debtors|||||16|540,941||279,944|
|Cash at bank and|in|hand||||141,625||592,910|
|||||||682,566||872,854|
|Liabilities|||||||||
|Creditors:<br>amounts||falling due|within|1year|l7|~(156,882||91,031|
|Net current assets|||||||525,684|781,823|
|Net assets|||||18||11~920~873|11 685 894|
|Funds|||||19||||
|Endowment<br>funds|||||||39,218|38,118|
|Restricted<br>funds|||||||167,529|187,945|
|Unrestricted<br>funds|||||||||
|Designated<br>funds:|||||||||
|Property<br>relocation|||||||5,000,000|5,000,000|
|Fixed assets|||||||1,176,065|1,085,550|
|Fixed asset|revaluation||reserve||||2,628,659|2,643,930|
|Ongoing<br>welfare|||||||1,200,000|1,600,000|
||||||||101004I724|10,329,480|
|General funds:|||||||||
|Revaluation<br>reserve|||||||1,413,578|802,224|
|General<br>funds|||||||295,824|328,127|
|Total charity funds|||||||11,920,873|11,685,894|





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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Note|||
|Cash used<br>in operating||activities:|||||||
|Net cash|provided<br>by/(used||in) operating||activities|20|(772,468)|(462,762)|
|Cash flows from investing|||activities:||||||
|Dividends|and interest from investments||||||160,525|150,905|
|Purchase|of tangible<br>fixed|assets|||||(2077286)|(101040)|
|Proceeds <br>Purchase|from the sale of <br>of investments|investments|||||1,282,438<br>~785,665)|971,578<br> ~1,273,203)|
|Net cash|provided<br>by/(used||in) investing||activities||450,012|(151,760)|
|Increase/(decrease)<br>in||cash and cash||equivalents||in the year|(322,456)|(614,522)|
|Cash and|cash equivalents|at|the beginning|of|the year||623,811|1,238,333|
|Cash and|cash equivalents||at the end ofthe year|||21|301,355|623,811|
|Analysis|ofnet debt||||||||
|||||||At 1||At 31|
|||||||3anuary||December|
|||||||2021|Cashflows|2021|
||||||||f.|f.|
|Cash||||||592,910|(451,285)|141,625|
|Cash held|as part of fixed|asset investments||(note 15)||30,901|128,829|159,730|
|Total||||||623,811|(322,456)|301,355|





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||||||2020|
|---|---|---|---|---|---|
|||Endowment|Restricted|Unrestricted|Total|
|||E|E|E||
|Income from:||||||
|Donations<br>and legacies|||104,614|523,373|627,987|
|Charitable<br>activities||||37,102|37,102|
|Other trading<br>activities||||34,486|34,486|
|Investments||853||150,052|150,905|
|Other||||18,191|18,191|
|Total income||853|104,614|763,204|868,671|
|Expenditure<br>on:||||||
|Raising funds||210||360,002|360,212|
|Charitable<br>activities|||40,390|1,218,310|1,258,700|
|Total expenditure||210|40,390|1,578,312|1,618,912|
|Net income /||||||
|(expenditure)<br>before gains||643|64,224|(815,108)|(750,241)|
|Net gains / (losses)|on|||||
|investments||(525)||294,519|293,994|
|Net income / (expenditure)||118|64,224|(520,589)|(456,247)|
|Transfers<br>between|funds|||||
|Net movement<br>in|funds|118|64,224|(520,589)|(456,247)|





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|Donations<br>and legacies|||||
|---|---|---|---|---|
|||||2021|
|||Restricted<br>E|Unrestricted<br>f|Totalf|
|Legacies|||775,147|775,147|
|Donations|||se,sse|86,856|
|Appeals||27,918|47,692|75,610|
|Grants||157,753|13,625|171,378|
|Total income from donations|and legacies|185,671|923,320|1,108,991|
|Prior period comparative:||||2020|
|||Restricted|Unrestricted|Total|
|||E|E|E|
|Legacies|||425,348|425,348|
|Donations||1,153|57,572|58,725|
|Appeals||29,303|22,519|51,822|
|Grants||74,158|17,934|92,092|
|Total income from donations|and legacies|104,614|523,373|627,987|



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|Charitable<br>activi|ties|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||Restricted<br>E|Unrestricted<br>E|Totalf|Total<br>E|
|Discovery courses|income||43,866|43,866|28,582|
|Discovery grants|and other|||||
|income|||9,773|9,773|7,055|
|Horse on loan income|||2,965|2,965|1,465|
|Total income from|charitable|||||
|activities|||56,604|56,604|37,102|





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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|Total|
||||E|E|f.|E|
|Events||||23,636|23,636|13,682|
|Rental|income|||13,580|13,580|10,765|
|Merchandise||and tack shop|||||
|sales||||3,035|3,035|2,964|
|Adoptions||||14,749|14,749|7,075|
|Total income||from other|||||
|trading|activities|||55,000|55,000|34,486|



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|Investment:<br>income||||
|---|---|---|---|
||||2021|
||Endowment|Unrestricted|Total|
||F|E||
|Dividends<br>from investments|790|159,433|160,223|
|Bank deposit interest||302|302|
|Total income from investments|790|159735|160I525|
|Prior period comparative:|||2020|
||Restricted|Unrestricted|Total|
||E|F|E|
|Dividends<br>from investments|853|147,903|148,756|
|Bank deposit interest||2,149|2,149|
|Total income from investments|853|150,052|150,905|



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|Total expenditure||||||||
|---|---|---|---|---|---|---|---|
|||||||Support<br>and||
|||||Raising|Charitable|governance|2021|
|||||funds|activities|costs|Total|
|||||E|E|E|f.|
|Staff costs (note 11)||||235,211|749,691|165,020|1,149,922|
|Equine costs|||||163,316||163,316|
|Establishment<br>costs||||3,714|252,029|21,989|277I732|
|Cost of sales and events||||707|||707|
|Fundraising<br>costs||||48,059|||48,059|
|Marketing<br>and publications||||49,532|||49,532|
|Legal and professional||||||67,612|67,612|
|Investment<br>managers'||fees||28,167|||28,167|
|Audit<br>and accountancy||fees||||12,870|12,870|
|Depreciation<br>and amortisation|||||119,144|15,600|134,744|
|Sub-tota<br>I||||365,390|1,284,180|283,091|1,932,661|
|Allocation<br>of support||and governance|costs|62,706|220,385|(283,091)||
|Total expenditure||||428 096|1~504I565||1,932,661|
|Prior period comparative:||||||||
|||||||Support<br>and||
|||||Raising|Charitable|governance|2020|
|||||funds|activities|costs|Total|
|||||E|f|E|E|
|Staff costs (note 11)||||189,059|645,257|169,401|1,003,717|
|Equine costs|||||118,288||118,288|
|Establishment<br>costs||||4,199|164,154|14,155|182,508|
|Cost ofsales and events||||2,420|||2,420|
|Fundraising<br>costs||||17.227|||17,227|
|Marketing<br>and publications||||58,932|18||58,950|
|Legal and professional||||||78,942|78,942|
|Investment<br>managers'||fees||22,746|||22,746|
|Audit and accountancy||fees||||16,860|16,860|
|Depreciation<br>and amortisation|||||101,654|15,600|117,254|
|Sub-total||||294,583|1,029,371|294,958|1,618,912|
|Allocation<br>of support|and governance||costs|65,629|229,329|(294,958)||
|Total expenditure||||360,212|1,258,700||1,618,912|





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|Support<br>and|governanc|e<br>costs are allocated to|activities as follows:|||
|---|---|---|---|---|---|
||||Raising|Charitable|2021|
||||funds<br>E|activities<br>E|Totalf|
|Staff costs|||36,553|128,467|165,020|
|Establishment|costs||4,871|17,118|21,989|
|Legal and professional||fees|14,976|52,636|67,612|
|Audit and accountancy||fees|2,851|10,019|12,870|
|Depreciation|and amortisation||3,455|12,145|15,600|
||||62,706|220,385|283,091|
|Prior period|comparative:||Raising|Charitable|2020|
||||funds|activities|Total|
|||||E|E|
|Staff costs|||37,692|131,709|169,401|
|Establishment|costs||3,150|11,005|14,155|
|Legal and professional||fees|17,565|61,377|78,942|
|Audit and accountancy||fees|3,751|13,109|16,860|
|Depreciation|and amo*isation||3,471|12,129|15,600|
||||65,629|229,329|294,958|





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|This is st|ated after ch|arging<br>/ (crediting):|||
|---|---|---|---|---|
||||2021f|2020<br>E|
|Depreciation|||119,144|101,654|
|Amortisation|||15,600|15,600|
|Trustees'|remuneration||Nil|Nil|
|Trustees'|reimbursed|expenses|105|58|
|Auditors'|remuneration:||||
||~ Audit (excl. VAT)||10,225|10,150|
|Operating|lease rentals||17,193|14,989|



## 

|Staff cos|ts were as follows:|||
|---|---|---|---|
|||2021f|2020<br>E|
|Salaries|and wages|989,078|882,391|
|Social security costs||77,479|55,754|
|Pension costs||63,965|56,667|
|Employee|benefits|19,400|8,905|
|||1,149,922|1,003,717|



||||2021|2020|
|---|---|---|---|---|
||||No.|No.|
|Average|head|count|51|42|



## 



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|he<br>ear ended 31December 2021<br> Intangible<br>fixed assets|||
|---|---|---|
||Software<br>and||
||websitef|Totalf|
|Cost or valuation|||
|At 1January 2021 and at 31 December 2021|46,800|46,800|
|Amortisation|||
|At 1 January 2021|31,200|31,200|
|Charge for the year|15,600|15,600|
|At 31 December 2021|46,800|46,800|
|Net book value|||
|At 31December 2021|||
|At 31 December 2020|15,600|15,600|





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## 

## 

## 

## 

|Debtors|||
|---|---|---|
||2021f|2020<br>f|
|Trade debtors|3,068|2,280|
|Prepayments|17,278|8,348|
|Other debtors|519,425|268,279|
|VAT recoverable|1,170|1,037|
||540,941|279,944|



## 

|Creditors: am|ounts<br>due within 1year|||
|---|---|---|---|
|||2021f|2020<br>E|
|Trade creditors||107,309|48,721|
|Other taxation|and social security|19,804|16,981|
|Accruals||19,206|18,273|
|Other creditors||10,563|7,056|
|||156,882|91,031|





## 

## 

## 

## 

||Endowment|Restricted|Unrestricted||
|---|---|---|---|---|
||funds|funds|funds|Total funds|
||E|E|f||
|Tangible<br>fixed assets||103|3,804,724|3,804,827|
|Intangible<br>fixed assets|||||
|Investments|39,218||7,551,144|7,590,362|
|Current assets||167,426|515,140|682,566|
|Current<br>liabilities|||(156,882)|(156,882)|
|Net assets at 31December 2021|39,218|167,529|11,714,126|11,920,873|
|Prior year comparative|||||
||Endowment|Restricted|Unrestricted||
||funds|funds|funds|Total funds|
||E|E|E||
|Tangible<br>fixed assets||2,805|3,713,880|3,716,685|
|Intangible<br>fixed assets|||15,600|15,600|
|Investments|38,118||7,133,668|7I171I786|
|Current assets||185,140|687,714|872,854|
|Current<br>liabilities|||(91,031)|(91,031)|
|Net assets at 31December 2020|38,118|187,945|11,459,831|11I685I894|





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## 

## 

## 

## 

## 



## 

## 

## 

|20.|Reconciliation<br>of net movement<br>in fund|s t|o net cash flow f|rom operating<br>activ|ities|
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|f|
||Net movement<br>in funds<br>Adjustments<br>for:|||234,979|(456,247)|
||Depreciation<br>charges<br>Amortisation<br>charges<br>(Gains) / losses on investments<br>Dividends<br>and interest<br>from investments<br>Decrease / (increase)<br>in stock<br>Decrease / (increase)<br>in debtors<br>Increase / (decrease)<br>in creditors|||119,144<br>15,600<br>(786,520)<br>(160,525)<br>(260,997)<br>65,851|101,654<br>15,600<br>(293,994)<br>(150,905)<br>2,101<br>288,778<br>30,251|
||Net cash provided<br>by / (used in) operating||activities|(772,468)|(462,762)|
|21.|Analysis ofcash and cash equivalents|||||
|||||2021f|2020<br>f|
||Cash at bank and<br>in hand<br>Cash held as part of fixed asset investments|(note 15)||141,625<br>159,730|592,910<br>30,901|
||Total cash and cash equivalents|||301,355|623,811|



|22.|Operating|Operating|lease|commitments|commitments|||||
|---|---|---|---|---|---|---|---|---|---|
||The charity<br>follows:||had|operating|leases at the year end|with|total future|minimum<br>lease|payments<br>as|
|||||||||2021f|2020<br>f|
||Amount|falling due:||||||||
||Within<br>Within|1 year<br>1 —5 years||||||16,570<br>16,087|16,666<br>32,609|
|||||||||32,657|49,275|



##