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2022-12-31-accounts

Page N
1. Introduction
a.
Welcome letter
b.
The need and our response
c.
Who we are and what we do
2. Structure,
Governance
and Management
a.
Constitution
b.
Governance
overview
c.
Board/Committee
meetings
d.
Trustee recruitment,
induction		 and training
e.
Trustee indemnity
f.
Management
structure		 and key personnel
g.
Policies
h.
Safeguarding
i.
Fundraising
practice
3. Objectives and activities
a.
Strategy		 9
b.
Rescue and rehabilitation		 10
c.
Rehoming		 11
d.
Discovery Programmes		 11
e.
Collaboration		 12
f.
Fundraising		 12
g.
Public benefit		 13
h.
Our people —staff, volunteers,		 supporters, loaners 13
4. Achievements
and Performance
a.
2022 against objectives		 14
b.
Challenges
and learning		 opportunities 25
c.
Overview offuture objectives for 2023		 26
d.
Thank you messages		 27
5. Financial
review		 29
6. Investment
Policy		 29
7. Reserves
Policy		 30
8. Principal
risks and uncertainties		 32
9. Legal and admin 33
10.Trustee responsibilities 34
11.Independent
Auditor's
report		 36
12.Statement
of Financial Activities		 40
13.Balance Sheet 41
14.Statement ofCash Flows 42
15. Notes to the Financial Statements 43

Welfare measure Welfare measure 2022 2021 2020
Total no ofequines
on		 site at year end 109 109
including
equines
in our Discovery programme		 13 19 19
No ofequines on loan at year end 187 186 195
No ofequines reported to us potentially at risk 151 608 370
No ofequines taken
in		 24 40 19
No ofequines rehomed 26 16 20
No ofequines returned from loan 14 14
No ofwelfare reported cases 50 69

Statement
offinancial activities
 Statement
offinancial activities
 (incorporati ng
an incom		 e and expenditu re
account)
For the year ended 31December 2022
2022 2021
Endowment
Note
E		 Restricted
E		 Unrestricted
E		 Totalf Total
f
Income from:
Donations
and legacies		 268,156 1,144,985 1,413,141 1,108,991
Charitable
activities		 72,768 72,768 56,604
Other trading
activities		 43,129 43,129 55,000
Investments 964 156,472 157,436 160,525
Other 16,707 16,707
Total income 964 268,156 1,434,061 1,703,181 1,381,120
Expenditure
on:
Raising funds
Charitable
activities		 217 240 855 518,477
1475 455		 518,694
1~716~310		 428,096
1 504 565
Total expenditure 217 240 855 1993932 2 235~004 1 932 661
Net income/(expenditure)
before gains/(losses)		 747 27,301 (559,871) (531,823) (551,541)
Net gains/(losses)
on
investments		 17 (4,166) (768 920) (773~086) 786 520
Net: income / (expenditure) (3,419) 27,301 (1,328,791) (1,304,909) 234,979
Transfers
between
funds		 (41,729) 41,729
Gain
on
revaluation
of
fixed assets 146,000 146,000
Net movement
in funds		 12 (3,419) (14,428) (1,287,062) (1,158,909) 234,979
Reconciliation
offunds:
Total funds brought
forward		 39 218 167 529 11 714 126 1lg920~873 11 685 894
Total funds carried forward 35 799 153 101 10427 064 10~761~964 11920 873

As at 31Decemb er 2 02 2
2022 2021
Note
Fixed assets
Tangible assets 15 3,880,257 3,804,827
Intangible
assets		 16 21,288
Investments 17 5~700~483 7 590 362
9,602,028 11,395,189
Current assets
Stock 18 4,994
Debtors 19 797,802 540,941
Cash at bank and in hand 466,782 141,625
1,269,578 682,566
Liabilities
Creditors:
amounts		 falling due within 1 yeai 20 (109,642) (156,882)
Net current assets 1,159,936 525,684
Net assets 21 10~761t964 11 920 873
Funds 22
Endowment
funds		 35,799 39,218
Restricted
funds		 153,101 167,529
Unrestricted
funds
Designated
funds:
Strategic growth fund 2,000,000
Property
fund		 2,000,000
Discovery
relocation		 2,000,000
Welfare relocation 3,000,000
Fixed assets 1,141,756 1,176,065
Fixed asset revaluation reserve 2,759,388 2,628,659
Ongoing
welfare		 1,200,000
7~901I144 10004 724
General funds:
Revaluation
reserve		 454,437 1,413,578
General
funds		 2,217,483 295,824
Total charity funds 10~761~964 11 920 873

Statement
of cash flows		 Statement
of cash flows		 Statement
of cash flows
For the year ended 31December 2022
2022 2021
Note
Cash used in operating
activities:
Net cash provided
by/(used		 in) operating
activities 23 (853,780) (772,468)
Cash flows from investing activities:
Dividends and interest
from investments		 157,436 160,525
Purchase oftangible
fixed assets		 (74,004) (207,286)
Purchase of intangible
fixed assets		 (21,288)
Proceeds from the sale of investments 1,785,853 1,282,438
Purchase of investments (724,157) (785,665)
Net cash provided
by/(used		 in) investing activities 1~123I840 450 012
Increase/(decrease)
in cash and cash		 equivalents
in the year 270,060 (322,456)
Cash and cash equivalents
at		 the beginning ofthe year 301,355 623,811
Cash and cash equivalents at the end of the year 24 571I415 301355
Analysis of net debt
At 1 At 31
3anuary December
2022 Cashflows 2022
E
Cash 141,625 325,157 466,782
Cash held as part of fixed asset investments (note 17) 159,730 (55,097) 104,633
Total 301,355 270,060 571,415

2021
Endowmentf Restricted
f		 Unrestricted
E		 Totalf
Income from:
Donations
and legacies		 185,671 923,320 1,108,991
Charitable
activities		 56,604 56,604
Other trading
activities		 55,000 55,000
Investments 790 159,735 160,525
Total income 790 185,671 1,194,659 1,381,120
Expenditure
on:
Raising
funds		 257 427 839 428~096
Charitable
activities		 112,249 1,392,316 1,504,565
Total expenditure 257 112 249 1 820 155 1~932~661
Net income / (expenditure)
before gains / (losses) 533 73,422 (625,496) (551,541)
Net gains / (losses) on
investments 567 785 953 786~520
Net income / (expenditure) 1,100 73,422 160,457 234,979
Transfers
between
funds		 (93,838) 93,838
Net movement
in funds		 1,100 (20,416) 254 295 234~979

Donations and legacies
2022
Restricted Unrestricted Total
f f f.
Legacies 1,037,780 1~037I780
Donations 8,653 71,403 80,056
Appeals 656 22,534 23,190
Grants 258,847 13,268 272,115
Total income from donations and legacies 268,156 1,144,985 1,413,141
Prior period comparative: 2021
Restricted
f		 Unrestrictedf Totalf
Legacies 775,147 775,147
Donations 86,856 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
Charitable activities
2022 2021
Restricted
f		 Unrestricted
f		 Total Totalf
Discovery courses income 56,539 56,539 43,866
Discovery grants and other
income 14,285 14,285 9,773
Horse on loan income 1,944 1,944 2,965
Total income from charitable
activities 72,768 72,768 56,604

2022 2021
Restricted
f		 Unrestricted
f		 Totalf Total
E
Events 14,709 14,709 23,636
Rental income 10,000 10,000 13,580
Merchandise and tack shop
sales 1,641 1,641 3,035
Adoptions 16,779 16,779 14,749
Total income from other
trading activities 43,129 43,129 55,000

Investment
income
2022
Endowment Unrestricted
E		 Totalf
Dividends
from investments		 964 155,852 156,816
Bank deposit interest 620 620
Total income from investments 964 156,472 157,436
Prior period comparative: 2021
Endowment Unrestricted Total
E
Dividends
from investments		 790 159,433 160,223
Bank deposit interest 302 302
Total income from investments 790 159,735 160,525

Total expenditure
Support
and
Raising Charitable governance 2022
funds activities costs Total
E
Staff costs (note 13) 280,709 870,268 209,424 1,360,401
Equine costs 161,541 161,541
Establishment
costs		 4,088 259,151 59,650 322,889
Grants payable
(note		 10) 27,252 27,252
Cost ofsales and events 914 914
Fundraising
costs		 89,362 89,362
Marketing
and publications		 40,010 40,010
Legal and professional 48,530 48,530
Investment
managers'		 fees 26,227 26,227
Audit and accountancy fees 15,835 15,835
Depreciation
and amortisation		 142,043 142,043
Sub-total 441,310 1,460,255 333,439 2,235,004
Allocation ofsupport and
governance
costs		 77,384 256,055 (333,439)
Total expenditure 518,694 1,716,310 2,235,004
Prior period comparative:
Support and
Raising Chantable governance 2021
funds activities costs Total
f E
Staff costs (note 13) 235,211 749,691 165,020 1,149,922
Equine costs 163,316 163,316
Establishment
costs		 3,714 252,029 21,989 277 732
Cost ofsales and events 707 707
Fundraising
costs		 48,059 48,059
Marketing
and publications		 49,532 49,532
Legal and professional 67,612 67,612
Investment
managers'		 fees 28,167 28,167
Audit and accountancy fees 12,870 12,870
Depreciation
and amortisation		 119,144 15,600 134,744
Sub-tota
I		 365,390 1,284,180 283,091 1,932,661
Allocation
of support		 and
governance
costs		 62,706 220,385 (283,091}
Total expenditure 428,096 1,504,565 1,932,661

Support
and		 governanc e
costs are allocated		 to activities as follows:
Raising Charitable 2022
funds activities Totalf
Staff costs 48,954 160,470 209,424
Establishment costs 13,843 45,807 59,650
Legal and professional fees 11,344 37,186 48,530
Audit and accountancy fees 3,701 12,134 15,835
77 842 255 597 333I439
Prior period comparative: Raising Charitable 2021
funds activities Total
E E.
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

2022 2021
E
Grants payable to institutions:
Riding for the Disabled
Association		 (RDA) 13,750
The Hugs Foundation 1,000
Hill Pony Rescue
God Unlimited
Outdoor Therapy		 Centre 1,000
The Moorland
Mousie Trust		 1,000
Lluest Horse and Pony Trust 1,000
Cranleigh
Riding
For The Disabled		 Association 1,000
The Phyllis
Harvey
Horse and		 Donkey Trust 1,000
Oak Tree Animals
Charity		 1,000
Grants
& E1,000		 5,502
Total grants payable to institutions 27,252
11.Grant commitments
2022 2021f
Grant commitments
brought		 forward
Grants committed
during
the		 period 27,252
Grants
paid during
the period		 (27,252)
Grant commitments
carried forward
12. Net movement
in funds
This is stated after charging
/ (crediting):
2022f 2021
E
Depreciation 142,043 119,144
Amortisation 15,600
Loss on disposal offixed assets 2,531
Trustees'
remuneration		 Nil Nil
Trustees'
reimbursed
expenses		 296 105
Auditors'
remuneration:
~ Audit (excl. VAT) 9,996 10,225
Operating
lease rentals		 16,670 17,193

he year ended 31December 2022
Staff costs and numbers
Staff costs were as follows:
2022 2021
E
Salaries and wages 1I175I729 989,078
Social security costs 96,186 77,479
Pension costs 72,083 63,965
Employee
benefits		 16,403 19,400
1,360,401 1,149,922
managem ent personnel
of the Charity
were E		 316,740 (2021:E273,032).
2022 2021
No. No.
Average head count 53 51

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Intangible
fixed assets
Softwa re and
website Total
E f.
Cost or valuation
At 1january
2022		 46,800 46,800
Additions
in year		 21,288 21,288
At 31 December 2022 68,088 68,088
Amortisation
At 1January
2022		 46,800 46,800
Charge for the year
At 31 December 2022 46,800 46,800
Net book value
At 31December 2022 21,288 21,288
At 31December 2021
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For t
18.		 he year ended 31December 2022
Stock
2022 2021
f. E
Stock 4,994
19. Debtors
2022 2021
Trade debtors 6,581 3,068
Prepayments 6,332 17,278
Other debtors 784,889 519,425
VAT recoverable 1,170
797,802 540,941

Creditors: am ounts
due within 1year
2022 2021
E E
Trade creditors 47,139 107,309
Other taxation and social security 32,661 19,804
Accruals 17,274 19,206
Other creditors 12,568 10,563
109,642 156,882

For t he year ended 31Dece mber 20 22
21. Analysis of net assets between funds
Endowment Restricted Unrestricted
funds funds funds Total funds
f E f.
Tangible fixed assets 401 3,879,856 3,880,257
Intangible
fixed assets		 21,288 21,288
Investments 35,799 5,664,684 5,700,483
Current assets 152,700 1,116,878 1,269,578
Current
liabilities		 (109,642) (109,642)
Net assets at 31
December 2022 35I799 153~101 10~573~064 10~761I964
Prior year comparative
Endowment Restricted Unrestricted
funds funds funds Total funds
E f E f.
Tangible
fixed assets		 103 3,804,724 3,804,827
Investments 39,218 7,551,144 7,590,362
Current assets 167,426 515,140 682,566
Current
liabilities		 (156,882) (156,882)
Net assets at 31
December 2021 39,218 167,529 11,714,126 11,920,873
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Transfers
out of restricted
funds
re
has been discharged.		 present pur chases
of fixed assets where
th		 chases
of fixed assets where
th		 e restriction
23. Reconciliation
of net movement		 in funds to net cash flow from operating activities
2022f 2021
f
Net movement
in funds		 (i~158I909) 234,979
Adjustments
for:
Depreciation
charges		 142,043 119,144
Amo*isation
charges		 15,600
(Gains) / losses on investments 773,086 (786,520)
Dividends
and interest from investments		 (157,436) (160,525)
Loss / (profit) on the sale of fixed assets 2,531
(Gain) on revaluation
of fixed assets		 (146,000)
Decrease / (increase)
in stock		 (4,994)
Decrease / (increase)
in debtors		 (256,861) (260,997)
Increase / (decrease)
in creditors		 (47,240) 65,851
Net cash provided
by / (used in)		 operating activities (853,780) (772,468)
24. Analysis ofcash and cash equivalents
2022 2021
E
Cash at bank and
in hand		 466,782 141,625
Cash held as part offixed asset investments (note 17) 104,633 159,730
Total cash and cash equivalents 571,415 301,355

For the year end the year end ed 31December 2022 ed 31December 2022
25. Operating lease commitments
The charity had operating leases at the year end with total future minimum lease payments
as follows:
2022 2021
f. f
Amount falling due:
Within 1 year 12,611 16,570
Within 1 —5 years 16,087
12,611 32,657