Blackmore Vale RDA Charlty No. 1136113 Company No. 07258463 Trustees. Report and Unaudlted Accounts 31 March 2024 Blackmore Vale RDA Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts IOto16 Detalled Statement of Flnanclal Activltles 17to18 Page I Blackmore Vale RDA Trustees Annual Report The trustees, who are also director5 of the charity for the purposes of the Companies Act 2006, present their report wlth the unaudited financlal statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 07258463 Charlty No. 1136113 Prlnclpal Offlce Cherrington Farm Cottage North Cheriton Templecombe Somerset BA8 OAP Reglstered Offlce herrln8ton Farm Cottage North Cherlton Templecombe Somerset BA8 OAP Dlrectors and Trustees he DSrectors of the charltable company are Its Trustees for the purposes of charlty law. he fDllowi ng Directors and Trustees served during the year: D. 8rock D, Chambers P, Copeland E,V,.G. Farquharson A,E, Ha.'es (Resigned 21 March 2024- but relnstated on 19 May 20241 S. Liddon G.L. Pullen l.,i.J.M, Woodhouse .A. Woodhouse (Appolnted 28 November 20231 Ichairmanl Accountants harltons Accountancy Llmlted -b.e Offices Miadle Farm ha rlton Horethorne Sherborne D-,94NL Bankers Lloyds Bank plc 9 High Street Veovil Somerset BA20 IRN Page 2 Blackmore Vale RDA Trustees Annual Report OBJECTIVES AND ACTIVITIES The Charity was one of three groups founded by Lady Koelle in the early 1970s..The group took its orlginal name Henstridge RDA from its first home based in Henstridge Airfield. Slnce then the group has moved around the Blackmore Vale area and Is now based at North Cherlton. The main purpose of the charity as set out in its governlng document Is to enable as many disabled people as possible of all ages a nd abilities to partake In horse rldlng. The group Is one of 500 member groups of the Riding For The Disabled Assoclat5on, whose patron Is the Princess Royal. The group has operated rldes up to four days per week and accommodates anyone wlth a disability. Rlder5 can rlde on either a real pony or one of two mechanScal horses helpln8 them to beneflt physically and mentally from riding, There is no charge associated wlth rlding. The group Is run by Trustees and relles entlrely on voluntary help except for our part-time/self-employed stable and administrative staff. The group a150 relies entirely upon donatlons to fund its activitle5 and undertakes regular fundralslng events. The trustees have given due con51deration to the Charlty Commlsslon's guldancè on the publlc beneflt requirement. The main actlvltles undertaken to further the charlty's purpose for the publlc beneflt Include, f rom October 2016 the charlty ceased hlrlng ponles In order to obtaln better control over thelr access and wellbelng. The charlty owned I pony at the beglnnlng of the year. Durlng the year, a new pony was loaned. The ponles are kept at Cherrlngton Farm Cottage. In addltion there are two mechanlcal horses kept on 51te. The charlty has engaged a total of 8 dlfferent part-tlme/self employed grooms, three of whlch are worklng for the charity on a regular basls. Due to the continued increase in paperwork, the charlty has contlnued to engage two part-tlme self employed managers / administrators, who are working on a regular basls. The number of rlders and volunteers fluctuates continually and at present the number of registered rlders is 25 and 15 registered volunteer5 regular attendance, The charlty has chlldren from three speclal needs schools, one of which was recruited In the year, two adult care organisatlon5 plus Indlvldual adults and chlldren in re8ular attenda nce. ACHIEVEMENTS AND PERFORMANCE The charlty has been able to operate agaln thls year due to the support group constantly fundralslng and receiving Indlvldual donations. The £60,000 legacy received In 2022 continues to secure the charity's abllity to operate In the future, Durlng the year The Act Foundatlon, formerly known as The Edward Gostllng Foundatlon gave a flnal £50,000 donation a5 their future policy changed. The additional funds allow the charity to build Its retalned reserves for future expenditure and a protiortion of the monles currently held In a Instant access savlngs account were transferred to 6 month flxed term savlngs accounts In June 2023 and December 2023 In the name of the charlty . The charlty relles on don8tlons from varlous donors, whose support Is very much valued. In addltlon there have been a number of fundralsing activities Includin8 a sponsored walk, golf dayi quiz nl8hts, collection tins and various other smaller events durlng the year. The charity continues to receive money from online shopping fundraising sites 'Easyfundraising' and 'Amazon Smile, , with the number of supporter5 for both sltes contlnulng to increase. The charity relie5 on the Trustees and their support group's efforts to raise funds and has been assisted in the past bv the Edward Gostling Foundatlon who have funded a disabled toilet as well as providing match funding. The charity's performance during the year has allowed it to provide access to approximately 37 dlsabled people of varying ages. The services provided have benef5ted disabled riders both mentally and physically making riding more accessible to disabled people in the wider community. FINANCIAL REVIEW Page 3 Blackmore Vale RDA Trustees Annual Report The trustees consider the financial performance by the charity during the year to have been satisfactory. -, he charity is maintaining a good revenue from fundraising and general donations. The charity continues to benefit from the legacy recelved in 2022. The Cha rity's policy on rese￿eS is as follows: The trustees aim to maintain free reserves in unrestricted fund5 at a level which equates to approximately 12 months of charitable expenditure. The trustees consider that this level will provide sufficient funds to ensure that support and governance costs are covered If the charity is unable to obtaln donations or fundraislng monies. The balance held as unrestricted funds at 31 March 2024 was £154,876 {2023 £99,746}, whlch Is more than sufflcient . The charity does not currently have any restricted f unds. The trustees intend to try to maintain the level of fundraising income and donations and expect spending to continue to be low next year but are aware that fundraising opportu nities may continue to be Ilmited. STRUCTURE, GOVERNANCE AND MANAGEMENT The governing document of the charlty Is the Memorandum and Articles of Assoclatlon establlshlng the corr,pan'i under company leglslatlon. By operatlon of law all, trustees are dSrectors under the Companies Act 20a6 a,Id 311 directors are trustees under Charlties legislatlon and have responslbllltles, as such, under both coTrpany and charity leglslatlon, The methods adopted for the recruitment and appointrnent of new trustees are as follow5: The coTr,m';ttee shall admlt new Trustees to membership in accordance wlth the Articles, to only Include such persois that are Interested In actlvely furtherlng the objects of the Company and as the cornmlttee may see fit. The Comrnlttee wlll dlscu55 and conslder potentlal new Trustees In Trustee Meetings and if any individuals 3re consldered to be sultable for the role those Indlvlduals wlll be approached and Invlted to become a Trustee. -he Trustees are responslble for keeplng proper accountlng records that dlsclose wlth reasonable accuracy ime the financial position of the charity and to ena ble them to ensure that the flnanclal statements com.ply wlth the Companies Act 2006. The Trustees are also responslble for safe8uardlng the assets of the c.Yarlty a nd hence taklng reasonable steps for the preventlon and detectlon of fraud and other I rre8ularities, The above report has ljeen prepared In accordance wlth the provlslons appllcable to companles subject to the small companies regime as Set out in Part 15 of the Companles Act 2006 and In accordance wlth the arifies SORP IFRS 1021. Si8iee on behalf of the board T.A. Woodhouse Ch.3 man 31 ro,arch 2024 Blackmore Vale RDA Independent Examlners Report Independent Examiner's Report to the trustees of Blackmore Vale RDA I report to the charity trustees on my examination of the financial statements of Blackmore Vale RDA for the year ended 31 March 2024. Responsibilltles and basls of report As the charity's trustees of the company land also its directors for the purposes of company lawl you are re5ponslble for the preparatlon of the financial statement5 in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not requlred to be audited under Part 16 of the 2006 Act a nd are eligible for independent examination, I report In respect of my examlnatlon of your charlty's flnanclal statements as carrled out under sectlon 145 of the Charlties Act 20111'the 2011 Act'l. In carrylng out my examlnatlon I have followed the Directlons given by the Charlty Commlsslon under section 145151 Ibl of the 2011 Act. Independent examlner's statement I have compSeted my examlnatlon, I can confirm that no material matters have come to my attentlon In connectlon wlth the examlnatlon glvlng me cause to belleve., accountlng records were not kept Sn accordance wlth sectlon 386 of the 2006 Act , or • the flnanclal statements do not accord wlth those records; or the flnancial statements do not comply wlth the accountln8 requlrements under section 396 of the 2006 Act other than any requlrement that the flnanclal statements give a 'true and falr, view which15 not a matter consSdered as part of an Independent examlnatlon; or the flnancial statement5 have not been prepared In accordance wlth the method5 and principles of the Statement of Recommended Practlce for accountin8 and reportlng by charltles appl icable ta charltles preparing thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the U K and Republlc of Ireland IFR5 1021. I have no concerns and have come across no other matters In connectlon wlth the examinatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the flnanclal statements to be reached, Charltons Accountancy Llmlted The Offices Middle Farm Charlton Horethorne Sherborne DT94NL 31 March 2024 Page 5 Blackmore Vale RDA Statement of Financlal Activities for the year ended 31 March 2024 Unrestricted funds Total funds Total funds 2024 2023 2024 Notes Income and endowments from: Donatlons and legacles Other trad i ng actlvlties Investments 69,352 11,620 1,940 69,352 11,620 1,940 29,768 19,526 85 Total 82,912 82,912 49,379 Expendlture on: Ozb,er 27,782 27,782 46,013 Total 27,782 27,782 46,013 N'et 8a',ns on Investments Net Income 55,130 55,130 3,366 Transfers between funds Net Income before other 8ain5111055es) 55,130 55,130 3,366 Other 8alns and losses Net movement In fund5 55,130 55,130 3,366 Reconclllatlon of f unds: -atal f ￿ndS brought forwa rd 99,746 99,746 96,380 Total funds ca rrled forward 154,876 154,876 99,746 GseD Blackmore Vale RDA Summary Income and Expendlture Account for the year ended 31 March.2024 '. TJ 2024 2023 Income 80,972 49,294 Interest and investment Income 1,940 85 Gross Income for the year Expendlture 82,912 49,379 27,782 46,013 Total expendlture for the year Net income before tax for the year 27,782 46,013 55,130 3,366 Net Income for the year 55,130 3,366 Page 7 Blackmore Vale RDA Balance Sheet at 31 March 2024 Company No. 07258463 Notes 2024 2023 Flxed assets Tangible assets Current assets Cash at bank and in hand 154,876 154,876 154,876 99,746 99,746 99,746 Net current assets Total assets less current Ilabilities 154,876 154,876 99,746 99,746 Net assets excludlng penslon asset or Ilabllltv Total net assets 154,876 99,746 The funds of the charltv Restrlcted lunds U nre5trlcted funds Geieral funds 154,876 99,746 154,876 99,746 Reserves Total funds 154,876 99,746 These accounts have been prepared In accordance wlth the speclal provlslons of Part 15 of the Companies Act 2006 relatlng to small companles. For:he year ended 31 March 2024 the company wa5 entitled to exemption under sectlon 477 of the Com panies Act 2006 relatlng to small companles. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The di rectors acknowled8e their responsibillties for complying with the requirements of the Companles Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2024 And signed on Its behalf bv: T.A, Woodhouse Chairman 31 March 2024 Page 8 Blackmore Vale RDA Statement of Cash flows for the year ended 31 March 2024 2024 2023 Cash flow5 from operating activities Net Income per Statement of Flnanclal Actlvltles 55,130 3,366 Adjustments for: DlvSdends, Interest and rents from Investments 11,9401 1851 Net cash provlded by operatln8 actlvltles 53,190 3,281 Cash flows from Investlng actlvltles Dividends, Interest and rents f rom investments 1,940 85 Net cash from Investlng actlvltle5 1,940 85 Net cash from flnanclng actlvltle5 Net Increase In cash and cash equlvalents 55,130 3,366 Cash and cash equlvalents at the beglnnln8 of the year 99,746 96,380 Cash and eash equlvalents at the end of the year 154,876 99,746 Components of Cash and cash equlvalents Cash and bank balances 154,876 99,746 154,876 99,746 Page 9 Blackmore Vale RDA Notes to the Accounts for the year ended 31 March 2024 l Accountin8 policles Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting bv Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in ccordance with the Financial Reporting Standard applicable in the UK and Republic of Irela nd {FRS 1021 (effective l January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006. Change In basis of accountlng or to previous accounts There has been no change to the accounting pollcles (valuation rules and method of accounting) slnce last year and no change5 have been made to accounts for previous years, Fund aecountlng U nrestricted f u nds These are av8llable for use at the discretion of the trustees In furtherance of the general objects of the charity. These are unrestricted f unds earmarked by the trustees for partlcular purposes, These are unrestrlcted f unds whlch include a revaluation reserve representlng the restatement of Investment assets at their market values. These are available for use subject to restrictlons Imposed by the donor or throu8h terms of an appeal. Desi8nated funds gevaiuatlon funds Restricted funds Income Recognltlon of Income Income Is Included in the Statement of Financial Activlties ISOFAI when the charity becomes entitled to, and virtually certain to receive, the Income and the amount of the income can be measured w5th suff Iclent rellabllltv. Income with related expenditu re Where Income has related expenditure the Income and related expenditu re is reported gross In the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts Is included In the the SOFA when receivable and only when the Charlty has uncondltlonal entltlement to the income. Tax reclalms on donatlons Income from tax reclalms Is Included in the SOFA at the same time a5 the and gifts gift/donation to which it relates. Donated services and These are only included in Income (with an eq(Jivalent amount in facilltles expendlturel where the beneflt to the Charlty Is reasonably quantlflable, measurable and materlal. The value of any volunteer help received is not included In the accounts, This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the end of the year, Volunteer help Investment income Gains/llos5esl on revaluation of fixed assets Gains/(lossesl on investment assets This includes any gain or loss on the sale of investments. Page 10 Blackmore Vale RDA Notes to the Accounts Expendlture Recognition of expenditure Expenditure is recognlsed on an accruals basis. Expendlture include5 any VAT whlch cannot be fully recovered, and is reported as part of the expenditure to which It relates. Expenditure on raising These comprise the costs associated with attracting voluntary income, funds fundraising trading costs and investment management costs. Expenditure on charitable These comprise the costs incurred by the Charity in the delivery of its actlvlties activities and services in the furtherance of lis objects, includin8 the making of grants and governance costs. All grant expenditure 15 accounted for on an actual paid ba515 plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These Include those costs a5soclated wlth meetlng the constltutional and statutory requlrements of the Charity, Includlng any audlt/lndependent examlnation fees, costs linked to the strate8ic management of the Charltyi together with a share of other administratlon costs. These are support costs not allocated to a particula r actlvity. Grants payable Governance costs Other expendlture Taxatlon The charlty is exempt from corporatlon tax on Its charitable actlvities. Tanglble flxed assets and depre¢Satlon Depreciation Is provided at the followin8 annual rates in order to wrlte off each asset over Its estlmated useful life.. Freehold propertv 100133% deductlon In first year/straight Ilne Plant and machlnery 33% straight line Some Items of plant and machinery are wrltten off 100% In first year where the Trustees conslder thls to be approprlate. Freehold Investment property Investment propertles are measured Initlally at cost and subsequently at falr value at each balance sheet date and are not depreciated. All 8ains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net reallsable value, Donated items of stock are recognised at falr value whlch Is the amount the charity would have been wllling to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 11 Blackmore Vale RDA Notes to the Accounts Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquld Investments wlth original maturltles of three months or less and bank overdrafts. In the statement of flnancial position, bank overdrafts are shown withln borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other credltors Short term credltors are measured at the transactlon price. Other credltors and provlslons are recogn ised where the charity has a present obligatlon resultlng f rom a past event that wlll probably result in the transfer of funds to a third party and the amount due'to settle the obligatlon can be measured or estimated rellably. Creditors and provisions are normally recognised at thelr settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development Is wrltten off In the year In whlch It Is Incurred. Forelgn curreneles Moneta ry assets and Ilablllties denominated In currencles other than the functlonal currency of the Ya'ity a re translated at the rates of exchange prevailing at the end of the reporting perlod. .2 isactions In currencies other than the functlonal currency of the charity are recorded at the rate of excha oge on the date that the tran5actlon occurred. Ai i exchan8e dlfferences are are taken Into account In arrlvlng at net Income/expendlture. Leased assets Where the ch3rlty enter5 into a lease whlch entalls taklng substantlally all the rlsks and rewards of ownershlp of an asset, the lease Is treated as a finance lease. Leases which do not transfer substantially all the rlsks and rewards of ownershlp to charlty are classlfled as operati n8 leases. Assets held under f inance leases a re initially recognlsed as assets of the charity at thelr falr value at the inception of the lease or, if lower, at the present value of the mlnimum lease payments. The corresponding liability to the lessor is included In the balance sheet date as a finance lease obligation. Lease payments are apportloned between flnance expenses and reductlon of the lease obllgation so as to achieve a constant rate of Interest on the remainlng balanco of the Ilablllty. Flnance expense5 are recognised immediately, unless they are directly attrlbutable to quallfylng assets, In which case they are capltallsed In accordance wlth the charlty's pollcy on borrowlng costs. Assets held under flnance leases are deprecSated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease Incentlves are received to enter Into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basls. Page 12 Pension costs The charity operaies a cerined contribution p',ar, for ils employee5. A definea. contribution plan 15 a pension plan under which the company pays fixed contributions into a separate entlty. Once the contrlbutions have been paid the company has no further payments obligatlons. The contrlbutions are recognlsed as expenses when they fall due. Amounts not pald are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Recelpt of donated goods, facllltles and services All donated goods, facilities and services received are recognlsed within incoming resources and expenditure at an estimate of the value to the charlty. 2 Company ststus The company Is a private company limited by 8uarantee and consequently does not have share capital. 3 Statement of Flnanclal Actlvltles- prlor year Unrestrlcte d funds Total funds 2023 2023 Income and endowments from: Donatlons and legacles Other tradlng actlvltles Investments 29,768 19,526 85 29,768 19,526 85 Total 49,379 49,379 Expendlture on: Other 46,013 46,013 Total 46,013 46,013 Net Income 3,366 3,366 Net Income before other galns/llos$es) Other 8alns and10s$es: Net movement In funds 3,366 3,366 3,366 3,366 Reconclllatlon of fund5: Total funds brought forward Total funds carrled fonvard 96,380 96,380 99,746 99,746 4 Income from donatlons and legacles Unrestrlcted Total 2024 Total 2023 Donations- varlous 69,312 69,352 69,352 69,352 29,768 29,768 Page 13 Blackrnore Vale RDA Notes to the Accounts 5 Income from other trading attivities UnrestrScted Total 2024 Total 2023 Fundraising evethts 11,620 11,620 11,620 11,620 19,526 19,526 6 Income from Investments Unrestrlcted Total 2024 Total 2023 ank inte'e5t 1,940 1,940 1,940 1,940 85 8S 7 Other expendlture Unrestrlcted Total Total 2024 2023 Ccsr o J :are of ?onies 19,424 19,424 24,949 a't-tire >: gaa emp,oyee 2,791 2,791 14,810 '1 e costs 5,057 510 5,057 510 5,750 504 Legal ancs a'ofess'onal costs 27,782 27,782 46,013 8 Tanglble flxed assets Land and bulldlngs Plant and machlnery Total Cost or revaluatlon At l April 2023 At 31 March 2024 29,611 29,611 35,891 35,891 65,502 65,502 Depreclatlon and Impalrment At l Aprll 2023 At 31 March 2024 Net book values 29,611 29,611 35,891 35,891 65,502 65,502 At 31 March 2024 At 31 March 2023 Page 14 Blackmore Vale RDA Notes to the Accounts 9 Movement in funds Incoming resources At31 {Includlng other At l Aprll galns/losses 2023 Resources expended March 2024 Restrlcted funds: Unrestrlcted funds: General funds 99,746 82,912 127,782) 154,876 Total funds 99,746 82,912 127,7821 154,876 O Analy51s of net assets between fund$ Unrestrlcte d funds Total Net current assets 154,876 li4,876 154,876 154,876 l Reconclllatlon of net debt At31 March 2024 At l Aprll 2023 Cash flows Cash and cash equlvalents 99,746 99,746 55,130 55,130 154,876 154,876 Net debt 99,746 55,130 154,876 Page 15 Blackmore Vale RDA Notes to the Accounts 2 Related party disclosures Name of related party Description of relotionship between the porties Gemma Pullen Directornrustee Gemma Is a self employed 8room and Was relnstated as a part tlme manager / administrator on 28 November 2023. She also assists with admlnlstrative dutie5 at the weekends and a5 a self employed groom. Description of transoctlon and generol amounts Involved Controlllnq party The company is l i mited by guarantee and has no share caplta I,. thus no slngle party controls the company. Page 16 Blackmore Vale RDA Detailed Statement of Financial Act'.vi:ies for the year ended 31 Viarch 2024 U p, res+ricted funds Total funds 2024 Total fu nds 2023 2024 Income and endowments from: Donations and legacies Donations- varlous 69,352 69,352 69,352 69,352 29,768 29,768 Other tradlng activities Fundrai51ng events 11,620 11,620 11,620 11,620 19,526 19,526 Investments Bank Interest 1,940 1,940 1,940 1,940 85 85 Total Income and endowments 82.,912 82,912 49,379 Expendlture on: Other expendlture Cost of upkeep 8nd care of ponles 19,424 19,424 24,949 19,424 19,424 24,949 Employee costs Temporary staff 2,791 2,791 2,791 2,791 14,810 14,810 General admlnlstratlve costs, Includlng depreclatlon and amortisation Depreciatlon of Plant and machinery Equlpment expensed Equipment leasing and hire charges Equipment repairs and malntenance General Insurances Subscrlptlons Sundry expenses 462 300 1,242 1,242 1,159 2,119 200 1,496 5,057 2,119 200 1,496 5,057 2,007 270 1,552 5,750 Legal and professional costs Accountancy and bookkeeping 510 510 504 510 510 504 Total of expenditure of other costs Total expenditure Net gains on investments 27,782 27,782 46,013 27,782 27,782 46,013 Page 17 Blackmore Vale RDA Detailed Statement of Financial Actlvitie5 Net Income 55,130 55,130 3,366 Net Income before other galnsl(losses) Other Gains 55,130 55,130 3,366 Net movement In funds 55,130 55,130 3,366 Reconclllat5on of funds: Total fund5 brought forward 99,746 99,746 96,380 Total funds carrled forward 154,876 154,876 99,746 Page 18