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 2022
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 2022
| 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 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).
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 E L Ford (appointed 12.10.21) E M Stevens (appointed 12.10.21) (resigned 9.5.22)
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 22 August 2022 and signed on its behalf by:
D J Redfern - 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 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.
Robert McLeod FCA ICAEW R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG
22 August 2022
Page 2
South Buckinghamshire Riding for the Disabled Association
Statement of Financial Activities for the Year Ended 31 March 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 65,530 Other trading activities 2 40,749 Investment income 3 6,608 Total 112,887 EXPENDITURE ON Direct costs 4 38,901 Other 81,670 Total 120,571 Net gains on investments 49,153 NET INCOME 41,469 RECONCILIATION OF FUNDS Total funds brought forward 758,668 TOTAL FUNDS CARRIED FORWARD 800,137 |
31.3.21 Total funds £ 84,987 36,174 7,008 128,169 24,178 100,993 125,171 149,073 152,071 606,597 758,668 |
|---|---|
The notes form part of these financial statements
Page 3
South Buckinghamshire Riding for the Disabled Association
Balance Sheet 31 March 2022
| 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 |
31.3.22 Unrestricted fund £ 143,198 799,471 942,669 - 90,634 90,634 (3,166) 87,468 1,030,137 (230,000) 800,137 800,137 800,137 |
31.3.21 Total funds £ 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 |
|---|---|---|
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.
The notes form part of these financial statements
continued...
Page 4
South Buckinghamshire Riding for the Disabled Association
Balance Sheet - continued 31 March 2022
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 22 August 2022 and were signed on its behalf by:
D J Redfern - 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 2022
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 2022
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Sales | 1,920 | 1,150 | |
| Lessons | 26,155 | 19,276 | |
| Livery, events & entry fees | 11,867 | 15,748 | |
| Other Income | 807 | - | |
| 40,749 | 36,174 | ||
| 3. | INVESTMENT INCOME | ||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Rents received | 6,600 | 6,986 | |
| Bank interest received | 8 | 22 | |
| 6,608 | 7,008 | ||
| 4. | DIRECT COSTS | ||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Farrier fees | 6,214 | 5,425 | |
| Vet fees | 8,306 | 5,496 | |
| Grooming, stable & horse sundries | 15,191 | 1,263 | |
| Feed & bedding | 7,940 | 11,706 | |
| Events & competitions | 110 | - | |
| Clothing, embroidery, cards & calendars | 804 | - | |
| Waste disposal | 336 | 288 | |
| 38,901 | 24,178 | ||
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Depreciation - owned assets | 4,954 | 5,843 |
continued...
Page 7
South Buckinghamshire Riding for the Disabled Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
6. 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.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Centre manager Grooms Administration Part time groom |
31.3.22 1 2 1 1 5 |
31.3.21 1 1 1 2 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 | 84,987 |
| Other trading activities | 36,174 |
| Investment income | 7,008 |
| Total | 128,169 |
| EXPENDITURE ON | |
| Raising funds | 24,178 |
| Other | 100,993 |
| Total | 125,171 |
| Net gains on investments | 149,073 |
| NET INCOME | 152,071 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 606,597 |
| TOTAL FUNDS CARRIED FORWARD | 758,668 |
continued...
Page 8
South Buckinghamshire Riding for the Disabled Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 April 2021 and 31 March 2022 156,137 DEPRECIATION At 1 April 2021 24,793 Charge for year 1,928 At 31 March 2022 26,721 NET BOOK VALUE At 31 March 2022 129,416 At 31 March 2021 131,344 10. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2021 Revaluations At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 There were no investment assets outside the UK. The listed investments are valued at market value 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
Motor vehicles Totals £ £ 33,000 189,137 16,192 40,985 3,026 4,954 19,218 45,939 13,782 143,198 16,808 148,152 Listed investments £ 750,317 49,154 799,471 799,471 750,317 31.3.22 31.3.21 £ £ - 963 |
|---|---|
continued...
Page 9
South Buckinghamshire Riding for the Disabled Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.22 | 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Trade creditors | - | (1) | ||||
| Social security and other taxes | 281 | 956 | ||||
| Accruals | 1,350 | 1,205 | ||||
| Trade creditors | 1,387 | 1,700 | ||||
| Creative pension | 148 | 250 | ||||
| 3,166 | 4,110 | |||||
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE | THAN ONE | YEAR | |||
| 31.3.22 | 31.3.21 | |||||
| £ | £ | |||||
| General contingency reserve | 230,000 | 230,000 | ||||
| 14. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.4.21 | in funds |
31.3.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 758,668 | 41,469 | 800,137 | |||
| TOTAL FUNDS | 758,668 | 41,469 | 800,137 | |||
| 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 | 112,887 | (120,571) | 49,153 | 41,469 | ||
| TOTAL FUNDS | 112,887 | (120,571) | 49,153 | 41,469 | ||
| Comparatives for 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 |
continued...
Page 10
South Buckinghamshire Riding for the Disabled Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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 £ 128,169 128,169 |
Resources expended £ (125,171) (125,171) |
Gains and Movement losses in funds £ £ 149,073 152,071 149,073 152,071 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 606,597 606,597 |
Net movement in funds £ 193,540 193,540 |
At 31.3.22 £ 800,137 800,137 |
|---|---|---|---|
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 £ 241,056 241,056 |
Resources expended £ (245,742) (245,742) |
Gains and Movement losses in funds £ £ 198,226 193,540 198,226 193,540 |
|---|---|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 11
South Buckinghamshire Riding for the Disabled Association
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2022 | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 65,530 | 84,987 |
| Other trading activities | ||
| Sales | 1,920 | 1,150 |
| Lessons | 26,155 | 19,276 |
| Livery, events & entry fees | 11,867 | 15,748 |
| Other Income | 807 | - |
| 40,749 | 36,174 | |
| Investment income | ||
| Rents received | 6,600 | 6,986 |
| Bank interest received | 8 | 22 |
| 6,608 | 7,008 | |
| Total incoming resources | 112,887 | 128,169 |
| EXPENDITURE | ||
| Direct costs | ||
| Farrier fees | 6,214 | 5,425 |
| Vet fees | 8,306 | 5,496 |
| Grooming, stable & horse sundries | 15,191 | 1,263 |
| Feed & bedding | 7,940 | 11,706 |
| Events & competitions | 110 | - |
| Clothing, embroidery, cards & calendars | 804 | - |
| Waste disposal | 336 | 288 |
| 38,901 | 24,178 | |
| Support costs | ||
| Management | ||
| Salaries & NI | 58,404 | 70,048 |
| HMRC JRS Grant | (2,098) | (4,487) |
| Pensions | 614 | 1,153 |
| Water rates | 84 | 444 |
| Insurance | 4,779 | 4,679 |
| Light and heat | 2,331 | 1,961 |
| Telephone | 683 | 965 |
| Postage and stationery | 211 | 107 |
| Advertising | 119 | 29 |
| Sundries | 123 | 88 |
| Health & safety | 346 | 434 |
| Travel expenses, judges etc | 1,945 | 337 |
| Carried forward | 67,541 | 75,758 |
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 2022 | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Management | ||
| Brought forward | 67,541 | 75,758 |
| Book-keeping | 1,225 | 1,080 |
| Accountancy | 1,800 | 2,800 |
| Subscription | 836 | 1,071 |
| Training | 907 | 118 |
| Repairs & maintenance | 4,312 | 13,439 |
| Bad debts | - | 814 |
| Plant and machinery | 1,928 | 2,154 |
| Motor vehicles | 3,025 | 3,690 |
| 81,574 | 100,924 | |
| Other | ||
| Bank charges | 96 | 69 |
| Total resources expended | 120,571 | 125,171 |
| Net (expenditure)/income before gains and | ||
| losses | (7,684) | 2,998 |
| Realised recognised gains and losses | ||
| Unrealised gains/losses on investments | 49,153 | 149,073 |
| Net income | 41,469 | 152,071 |
This page does not form part of the statutory financial statements
Page 13