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← South Buckinghamshire Riding For The Disabled Association

2024-03-31-accounts

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 2024

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 2024

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 10 to 17
Detailed Statement of Financial Activities 18 to 19

South Buckinghamshire Riding for the Disabled Association

Report of the Trustees for the Year Ended 31 March 2024

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 2024. 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 (resigned 13.6.24) J Thomson E L Ford

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:

..........................................................................

Page 1

South Buckinghamshire Riding for the Disabled Association

Report of the Trustees for the Year Ended 31 March 2024

D J Redfern - Trustee

Page 2

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 2024.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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

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

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

Page 3

South Buckinghamshire Riding for the Disabled Association

Statement of Financial Activities for the Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.3.24
Unrestricted
fund
£
743,081
80,166
2,440
825,687
176,419
176,419
27,844
677,112
872,633
1,549,745		 31.3.23
Total
funds
£
239,402
58,715
3,460
301,577
144,248
-
144,248
(84,833)
72,496
800,137
872,633

The notes form part of these financial statements

Page 4

South Buckinghamshire Riding for the Disabled Association

Balance Sheet
31 March 2024
Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
14
NET ASSETS
FUNDS
15
Unrestricted funds
TOTAL FUNDS		 31.3.24
Unrestricted
fund
£
147,745
1,492,483
1,640,228
145,043
(5,526)
139,517
1,779,745
(230,000)
1,549,745
1,549,745
1,549,745		 31.3.23
Total
funds
£
139,128
864,639
1,003,767
104,119
(5,253)
98,866
1,102,633
(230,000)
872,633
872,633
872,633

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

continued...

South Buckinghamshire Riding for the Disabled Association

Balance Sheet - continued 31 March 2024

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:

............................................. D J Redfern - Trustee

The notes form part of these financial statements

Page 6

South Buckinghamshire Riding for the Disabled Association

Cash Flow Statement
for the Year Ended 31 March 2024
31.3.24
Notes
£
Cash flows from operating activities
Cash generated from operations
1
651,319
Interest paid
(119)
Net cash provided by operating activities
651,200
Cash flows from investing activities
Purchase of tangible fixed assets
(11,932)
Purchase of fixed asset investments
(600,000)
Sale of fixed asset investments
27,844
Interest received
2,440
Net cash used in investing activities
(581,648)
Change in cash and cash equivalents in the
reporting period
69,552
Cash and cash equivalents at the beginning
of the reporting period
104,119
Cash and cash equivalents at the end of the
reporting period
145,043		 31.3.23
£
161,510
(76)
161,434
-
(150,001)
(84,833)
710
(234,124)
(72,690)
90,634
104,119

The notes form part of these financial statements

Page 7

South Buckinghamshire Riding for the Disabled Association

Notes to the Cash Flow Statement for the Year Ended 31 March 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Interest paid
Increase in creditors
Net cash provided by operations		 31.3.24
£
677,112
3,314
(27,844)
(2,440)
119
1,058
651,319		 31.3.23
£
72,496
4,071
84,833
(710)
76
744
161,510

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 104,119 40,924 145,043
104,119 40,924 145,043
Total 104,119 40,924 145,043

The notes form part of these financial statements

Page 8/9

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

continued...

Page 10

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES

Donations
Legacies
3.
OTHER TRADING ACTIVITIES
Sales
Lessons
Livery, events & entry fees
Other Income
Insurance claim
4.
INVESTMENT INCOME
Rents received
Bank interest received
5.
RAISING FUNDS
Other activities
Support costs
Direct costs
Farrier fees
Vet fees
Grooming, stable & horse sundries
Feed & bedding
Events & competitions
Clothing, embroidery, cards & calendars
Waste disposal
Carried forward		 31.3.24
£
118,081
625,000
743,081
31.3.24
£
730
55,357
12,617
11,462
-
80,166
31.3.24
£
-
2,440
2,440
31.3.24
£
176,419
31.3.24
£
6,165
9,147
6,934
9,384
2,393
755
-
34,778		 31.3.23
£
89,402
150,000
239,402
31.3.23
£
1,477
40,768
9,428
794
6,248
58,715
31.3.23
£
2,750
710
3,460
31.3.23
£
144,248
31.3.23
£
6,165
8,189
7,350
7,322
1,748
1,865
384
33,023

continued...

Page 11

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

5. RAISING FUNDS - continued

Direct costs - continued

Brought forward
Aggregate amounts
6.
SUPPORT COSTS
Management
£
Other activities
176,419
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.3.24
£
34,778
34,778
34,778
Other
£
31.3.24
£
3,315		 31.3.23
£
33,023
33,023
144,248
Totals
£
176,419
31.3.23
£
4,070

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Other pension costs		 31.3.24
£
105,464
1,972
107,436		 31.3.23
£
75,599
910
76,509

continued...

Page 12

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9. STAFF COSTS - continued

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

31.3.24 31.3.23
Centre manager 1 1
Grooms 2 2
Administration part time 1 1
Part time groom 1 1
5 5

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

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 239,402
Other activities 58,715
Investment income 3,460
Total 301,577
EXPENDITURE ON
Raising funds 144,248
Net gains/(losses) on investments (84,833)
NET INCOME 72,496
RECONCILIATION OF FUNDS
Total funds brought forward 800,137
TOTAL FUNDS CARRIED FORWARD 872,633

continued...

Page 13

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2023
Additions
Revaluations
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Plant and
machinery
£
156,137
11,932
168,069
28,311
1,280
29,591
138,478
127,826		 Motor
vehicles
£
33,000
-
33,000
21,698
2,035
23,733
9,267
11,302		 Totals
£
189,137
11,932
201,069
50,009
3,315
53,324
147,745
139,128
Listed
investments
£
864,639
600,000
27,844
1,492,483
1,492,483
864,639

There were no investment assets outside the UK.

The listed investments are valued at market value

continued...

Page 14

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Accruals
Trade creditors
Creative pension
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
General contingency reserve
15.
MOVEMENT IN FUNDS
At 1.4.23
£
Unrestricted funds
General fund
872,633
TOTAL FUNDS
872,633
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
825,687
(176,419)
TOTAL FUNDS
825,687
(176,419)		 31.3.24
31.3.23
£
£
2,083
1,023
1,800
1,800
1,330
2,040
313
390
5,526
5,253

31.3.24
31.3.23
£
£
230,000
230,000
Net
movement
At
in funds
31.3.24
£
£
677,112
1,549,745
677,112
1,549,745
Gains and
Movement
losses
in funds
£
£
27,844
677,112
27,844
677,112

Page 15

continued...

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.22
£
800,137
800,137		 Net
movement
in funds
£
72,496
72,496		 At
31.3.23
£
872,633
872,633

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

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
301,577
301,577		 Resources
expended
£
(144,248)
(144,248)		 Gains and
Movement
losses
in funds
£
£
(84,833)
72,496
(84,833)
72,496

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.22
£
800,137
800,137		 Net
movement
At
in funds
31.3.24
£
£
749,608
1,549,745
749,608
1,549,745

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

Incoming
resources
£
Unrestricted funds
General fund
1,127,264
TOTAL FUNDS
1,127,264		 Resources
expended
£
(320,667)
(320,667)		 Gains and
Movement
losses
in funds
£
£
(56,989)
749,608
(56,989)
749,608

Page 16

continued...

South Buckinghamshire Riding for the Disabled Association

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 17

South Buckinghamshire Riding for the Disabled Association

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 118,081 89,402
Legacies 625,000 150,000
743,081 239,402
Other activities
Sales 730 1,477
Lessons 55,357 40,768
Livery, events & entry fees 12,617 9,428
Other Income 11,462 794
Insurance claim - 6,248
80,166 58,715
Investment income
Rents received - 2,750
Bank interest received 2,440 710
2,440 3,460
Total incoming resources 825,687 301,577
EXPENDITURE
Farrier fees 6,165 6,165
Vet fees 9,147 8,189
Grooming, stable & horse sundries 6,934 7,350
Feed & bedding 9,384 7,322
Events & competitions 2,393 1,748
Clothing, embroidery, cards & calendars 755 1,865
Waste disposal - 384
34,778 33,023
Support costs

Salaries & NI		 105,464 75,599
Pensions 1,972 910
Water rates 397 528
Carried forward 107,833 77,037

This page does not form part of the statutory financial statements

Page 18

South Buckinghamshire Riding for the Disabled Association

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £

Brought forward		 107,833 77,037
Insurance 5,637 4,641
Light and heat 5,145 2,511
Telephone 1,111 765
Postage and stationery 809 680
Advertising - 119
Sundries 1,088 138
Health & safety 1,172 656
Travel expenses, judges etc 2,989 2,374
Book-keeping 1,400 1,052
Accountancy 1,920 2,600
Subscription 1,177 1,351
Training - 25
Repairs & maintenance 7,309 12,688
Council tax (53) 53
Bad debts - 388
Professional fees 671 -
Plant and machinery 1,280 1,590
Motor vehicles 2,034 2,481
141,522 111,149
Other
Bank charges 119 76
Total resources expended 176,419 144,248
Net income before gains and losses 649,268 157,329
Realised recognised gains and losses
Unrealised gains/losses on investments 27,844 (84,833)
Net income 677,112 72,496

This page does not form part of the statutory financial statements

Page 19