2021-03-31-accounts - South Buckinghamshire Riding For The Disabled Association

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REGISTERED COMPANY NUMBER: 07282773 (England and Wales) REGISTERED CHARITY NUMBER: 1136630

Report of the Trustees and Unaudited Financial Statements

for the Year Ended 31 March 2021

for

South Buckinghamshire Riding for the Disabled Association

R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG

South Buckinghamshire Riding for the Disabled Association

Contents of the Financial Statements for the Year Ended 31 March 2021

		Page
Report of the Trustees		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Balance Sheet	4	to	5
Notes to the Financial Statements	6	to	11
Detailed Statement of Financial Activities	12	to	13

South Buckinghamshire Riding for the Disabled Association

Report of the Trustees for the Year Ended 31 March 2021

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 2021. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07282773 (England and Wales)

Registered Charity number 1136630

Registered office Mill House Farm Framewood Road Fulmer Buckinghamshire SL2 4QR

Trustees T M Drake D J Redfern Dr H Jones A Lawrence E Smith S L Baron J Thomson

Company Secretary Dr H Jones

Independent Examiner R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Trustee

Page 1

Independent Examiner's Report to the Trustees of South Buckinghamshire Riding for the Disabled Association

Independent examiner's report to the trustees of South Buckinghamshire Riding for the Disabled Association ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

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.

Robert McLeod FCA ICAEW R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG

Date: .............................................

Page 2

South Buckinghamshire Riding for the Disabled Association

Statement of Financial Activities for the Year Ended 31 March 2021

31.3.21
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
84,987
Other trading activities
2
36,174
Investment income
3
7,008
Total
128,169
EXPENDITURE ON
Raising funds
4
24,178
Other
100,993
Total
125,171
Net gains/(losses) on investments
149,073
NET INCOME/(EXPENDITURE)
152,071
RECONCILIATION OF FUNDS
Total funds brought forward
606,597
TOTAL FUNDS CARRIED FORWARD
758,668

31.3.20
Total
funds
£
84,731
64,718
3,565
153,014
41,193
117,727
158,920
(41,203)
(47,109)
653,706
606,597

The notes form part of these financial statements

Page 3

South Buckinghamshire Riding for the Disabled Association

Balance Sheet 31 March 2021

Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 14 Unrestricted funds TOTAL FUNDS	31.3.21 Unrestricted fund £ 148,152 750,317 898,469 963 93,346 94,309 (4,110) 90,199 988,668 (230,000) 758,668 758,668 758,668	31.3.20 Total funds £ 153,286 601,244 754,530 6,568 77,465 84,033 (1,966) 82,067 836,597 (230,000) 606,597 606,597 606,597

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

The notes form part of these financial statements

continued...

Page 4

South Buckinghamshire Riding for the Disabled Association

Balance Sheet - continued 31 March 2021

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 ............................................. and were signed on its behalf by:

............................................. Trustee

The notes form part of these financial statements

Page 5

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 4% on cost Motor vehicles - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 6

continued...

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

2.	OTHER TRADING ACTIVITIES
		31.3.21	31.3.20
		£	£
	Sales	1,150	635
	Lessons	19,276	49,463
	Livery, events & entry fees	15,748	14,620
		36,174	64,718
3.	INVESTMENT INCOME
		31.3.21	31.3.20
		£	£
	Rents received	6,986	3,500
	Bank interest received	22	65
		7,008	3,565
4.	RAISING FUNDS
	Investment management costs
		31.3.21	31.3.20
		£	£
	Farrier fees	5,425	6,635
	Vet fees	5,496	12,434
	Grooming, stable & horse sundries	1,263	10,008
	Feed & bedding	11,706	8,408
	Events & competitions	-	2,420
	Clothing, embroidery, cards & calendars	-	808
	Waste disposal	288	480
		24,178	41,193
5.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
		31.3.21	31.3.20
		£	£
	Depreciation - owned assets	5,843	8,020

continued...

Page 7

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

Centre manager Grooms Administration Part time groom	31.3.21 1 1 1 2 5	31.3.20 1 2 1 1
		5

No employees received emoluments in excess of £60,000.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted
	fund
	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	84,731
Other trading activities	64,718
Investment income	3,565
Total	153,014
EXPENDITURE ON
Raising funds	41,193
Other	117,727
Total	158,920
Net gains/(losses) on investments	(41,203)
NET INCOME/(EXPENDITURE)	(47,109)
RECONCILIATION OF FUNDS
Total funds brought forward	653,706
TOTAL FUNDS CARRIED FORWARD	606,597

continued...

Page 8

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

9. TANGIBLE FIXED ASSETS

COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 10. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2020 Revaluations At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 There were no investment assets outside the UK. The listed investments are valued at market value	Plant and machinery £ 155,428 709 156,137 22,639 2,154 24,793 131,344 132,789	Motor vehicles Totals £ £ 33,000 188,428 - 709 33,000 189,137 12,503 35,142 3,689 5,843 16,192 40,985 16,808 148,152 20,497 153,286 Listed investments £ 601,244 149,073 750,317 750,317 601,244

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	31.3.21	31.3.20
	£	£
Trade debtors	-	6,568
Prepayments	963	-
	963	6,568

continued...

Page 9

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

				31.3.21	31.3.20
				£	£
	Trade creditors			(1)	-
	Social security and other taxes			956	883
	Accruals			1,205	893
	Trade creditors			1,700	190
	Creative pension			250	-
				4,110	1,966
13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE		THAN ONE YEAR
				31.3.21	31.3.20
				£	£
	General contingency reserve			230,000	230,000
14.	MOVEMENT IN FUNDS
				Net
				movement	At
			At 1.4.20	in funds	31.3.21
			£	£	£
	Unrestricted funds
	General fund		606,597	152,071	758,668
	TOTAL FUNDS		606,597	152,071	758,668
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		£	£	£	£
	Unrestricted funds
	General fund	128,169	(125,171)	149,073	152,071
	TOTAL FUNDS	128,169	(125,171)	149,073	152,071

Comparatives for movement in funds

Unrestricted funds General fund TOTAL FUNDS	At 1.4.19 £ 653,706 653,706	Net movement in funds £ (47,109) (47,109)	At 31.3.20 £ 606,597
			606,597

continued...

Page 10

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 153,014 153,014	Resources expended £ (158,920) (158,920)	Gains and Movement losses in funds £ £ (41,203) (47,109) (41,203) (47,109)	Gains and Movement losses in funds £ £ (41,203) (47,109) (41,203) (47,109)
				(47,109)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	At 1.4.19 £ 653,706 653,706	Net movement in funds £ 104,962 104,962	At 31.3.21 £ 758,668
			758,668

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 281,183 281,183	Resources expended £ (284,091) (284,091)	Gains and Movement losses in funds £ £ 107,870 104,962 107,870 104,962	Gains and Movement losses in funds £ £ 107,870 104,962 107,870 104,962
				104,962

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 11

South Buckinghamshire Riding for the Disabled Association

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
	31.3.21	31.3.20
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	84,987	84,731
Other trading activities
Sales	1,150	635
Lessons	19,276	49,463
Livery, events & entry fees	15,748	14,620
	36,174	64,718
Investment income
Rents received	6,986	3,500
Bank interest received	22	65
	7,008	3,565
Total incoming resources	128,169	153,014
EXPENDITURE
Investment management costs
Farrier fees	5,425	6,635
Vet fees	5,496	12,434
Grooming, stable & horse sundries	1,263	10,008
Feed & bedding	11,706	8,408
Events & competitions	-	2,420
Clothing, embroidery, cards & calendars	-	808
Waste disposal	288	480
	24,178	41,193
Support costs
Management
Salaries & NI	70,048	84,620
HMRC JRS Grant	(4,487)	-
Pensions	1,153	1,395
Water rates	444	477
Insurance	4,679	4,160
Light and heat	1,961	(1,156)
Telephone	965	638
Postage and stationery	107	414
Advertising	29	571
Sundries	88	67
Health & safety	434	636
Travel expenses, judges etc	337	1,530
Book-keeping	1,080	1,138
Carried forward	76,838	94,490

This page does not form part of the statutory financial statements

Page 12

South Buckinghamshire Riding for the Disabled Association

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

	31.3.21	31.3.20
	£	£
Management
Brought forward	76,838	94,490
Accountancy	2,800	1,800
Subscription	1,071	1,084
Training	118	847
Repairs & maintenance	13,439	11,168
Council tax	-	259
Bad debts	814	-
Plant and machinery	2,154	3,520
Motor vehicles	3,690	4,499
	100,924	117,667
Other
Bank charges	69	60
Total resources expended	125,171	158,920
Net income/(expenditure) before gains and
losses	2,998	(5,906)
Realised recognised gains and losses
Unrealised gains/losses on investments	149,073	(41,203)
Net income/(expenditure)	152,071	(47,109)

This page does not form part of the statutory financial statements

Page 13