REGISTERED COMPANY NUMBER: 07363597 (England and Wales) REGISTERED CHARITY NUMBER: 1138260
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
RIDE HIGH LIMITED (A COMPANY LIMITED BY GUARANTEE)
Ad Valorem Accountancy Services Limited Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN
RIDE HIGH LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 5 |
| Impact Report | 6 to 17 |
| Independent Examiner's Report | 18 |
| Statement of Financial Activities | 19 |
| Balance Sheet | 20 to 21 |
| Cash Flow Statement | 22 |
| Notes to the Financial Statements | 23 to 32 |
RIDE HIGH LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES
Dr K Ali Mr J H Geary Mrs M E T McColl Mr A J Oddie Mr S J Piper Mr G J Sandmann Mrs L S Styles Mr P D B Zeidler Mr R Harper (appointed 25/9/2023)
COMPANY SECRETARY Mr M Gala-Shah REGISTERED OFFICE Ride High Equestrian Centre Redland Drive Loughton Milton Keynes Buckinghamshire MK5 8EJ REGISTERED COMPANY 07363597 (England and Wales) NUMBER REGISTERED CHARITY 1138260 NUMBER INDEPENDENT EXAMINER Ad Valorem Accountancy Services Limited Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN
Page 1
RIDE HIGH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees, (who are also Directors of the Charity for the purposes of the Companies Act), present their Annual Report together with the Financial Statements of Ride High Limited for the year ended 31 December 2023. The Trustees confirm that the Annual Report and Financial Statements of the Company comply with the current statutory requirements, the requirements of the Company's governing document and the provisions of the Charities Statement of Recommended Practice (Charities SORP (FRS102))
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors' report) Regulations 2013 is not required.
OBJECTIVES AND ACTIVITIES
Summary of the Objectives of the Charity set out in its Governing Document
To act as a resource for young people aged between five and twenty-five who are experiencing difficulties in their daily lives by organising programmes of physical, educational and other activities as a means of:
(a) advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
(b) advancing education;
(c) providing recreational and leisure-time activity in the interest of social welfare for people living in the area of benefit who have need by reason of poverty or social and economic circumstances and/or mental health problems arising from medical conditions with a view to improving the conditions of life of such children and young persons.
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RIDE HIGH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Summary of the main activities undertaken for the public benefit
In planning our activities for the period we kept in mind the Charity Commission's guidance on public benefit at our Trustee Board meetings.
All children and young people [C&YP] are referred to Ride High by professionals or agencies that work with disadvantaged C&YP who are struggling with daily life. The C&YP may be in foster care, a young carer, grieving after the death of a family member, suicidal or self-harming, a victim of abuse or neglect, NEET (Not in Education, Employment or Training), or living in an environment dominated by ill health, drugs or poverty. Referrals are generally made when intervention by agencies such as Milton Keynes Children and Adolescent Mental Health Service, MK Council's social workers, special schools, primary or secondary schools are not providing sufficient support or obtaining positive outcomes. Our goal is to effect a long-term transformation in the lives of severely disadvantaged C&YP using horses and associated clubroom based educational activities.
The C&YP work in small groups with the same teachers and volunteers each week. In this way we aim to provide them with a safe and happy environment where they can make friends, develop self-confidence and learn a range of social, practical and life skills. We work with many of the C&YP over the medium to long term and for those who are old enough we try to facilitate work experience placements or routes to further education.
Using horses is an effective means of connecting with C&YP. Time spent riding and caring for horses provides them with a challenge and something to look forward to each week. As they learn new skills their confidence and self-esteem increases. They learn to feel calmer, to manage negative feelings and anxieties, and to feel much happier in themselves. At Ride High we work with C&YP for between three and twelve months. We provide consistency, safety, support and friendship. We give C&YP the opportunity to engage in activities beyond riding to help them develop their skills, confidence and aspirations for the future. By the time they leave Ride High the vast majority are fully engaged in an active, positive life again.
We accept all disadvantaged C&YP, regardless of religion, ethnicity, gender and social or economic background.
Further details regarding the activities, achievements and outcomes of the Charity are included in the 2023 Impact Report, on pages 6-17.
Additional details of objectives and activities
All our activities are free to the C&YP. However, all those who have attended Ride High for more than twelve weeks are expected to contribute by helping other groups or in fundraising activities.
We have five full-time members of staff, three part-time members, and four part-time minibus drivers, but rely heavily on volunteers to help the C&YP within our clubroom. The dedication and reliability of our volunteers has a highly beneficial impact on the quality of the service we offer. Our volunteers report that they enjoy a huge sense of achievement working with the C&YP and that they feel real "ownership" and commitment to the future success of Ride High.
We transport all C&YP between their schools/homes and our clubroom. Without this service the C&YP would not be able to attend as their parents do not usually have the facilities to transport them.
STRATEGIC REPORT
Financial position
The results for the period are set out in the Financial Statements. There has been an excess of expenditure over income resulting in net deficit for the period of £20,388.
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RIDE HIGH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
STRATEGIC REPORT Financial review
Reserves policy
Ride High's policy is to hold cash and cash equivalents of at least £100,000. Cash and cash equivalents exclude funds that are restricted to capital projects and other ventures that are outside the scope of standard operating expenditure. This is to ensure that, in the event of a significant loss in funding, the charity has sufficient financial resources to deliver all planned programmes, and provide the necessary time lo secure additional funding and ensure the charity remains financially sustainable thereafter.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of no less than one year from the date of signing the Trustees' Report. For this reason they continue to adopt the going concern basis in preparing the Financial Statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Funds in deficit
There are no funds in deficit.
Further financial review details
The financial performance of the charity has been strong in 2023, with total income up significantly on the prior year. Our revenue streams include donations, profits from fundraising events, income from successful grant applications, and referral income from educational institutions that connect children and young people to our programmes.
A significant highlight of the year was the continued success of our flagship fundraising event, the Winter Ball, which raised over £110,000. This event not only provided an opportunity to showcase the charity and its work but also generated substantial returns. Additionally, our quarterly fundraising events, including the Golf Day, have continued to perform well, ensuring a steady flow of income throughout the year.
Our grant income has seen significant growth. In 2023, we benefited from substantial grants, most notably £125,000 from the National Lottery as part of a multi-year award, and over £54,000 from the Henry Smith Foundation, of which half was received in-year. This increase in grant income, alongside other sources, has strengthened our financial position and enabled us to expand our programmes.
Ride High has also improved its balance sheet by proactively paying off over £50,000 in long-term debts, achieving a debt-free status. This was possible, in part, due to the receipt of principal and interest on an intercompany loan to our trading subsidiary, The Ride High Equestrian Centre (RHEC). In 2023, we received a principal repayment of £50,000, with further repayments anticipated in the coming years, ensuring the full repayment of the initial £383,082 loan by the end of 2026.
As we look ahead, the financial outlook remains strong, as Ride High will continue to benefit from significant multi-year funding from National Lottery, and the Henry Smith foundation. Through this, and our comprehensive calendar of fundraising events and other sources of income, we are confident that we can continue to deliver on the objectives of the charity for the year ahead.
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.
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RIDE HIGH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The Company operates selection criteria for recruitment of Trustee Directors so as to ensure that their skills and experience reflect the governance and operational needs of the Company. Prospective Trustee Directors are interviewed by all the existing Trustee Directors. New Trustee Directors are not appointed until satisfactory Disclosure and Barring Service checks have been completed.
Organisational structure
The Company has a Trustee Board that meets regularly to provide leadership, strategic direction and financial control. A sub-committee of the Trustee Board meets as necessary to manage key issues relating to the provision of children's services at our Centre.
The Chief Executive of the Company, Ms O F Sugdon attends meetings of the Trustee Board.
Internal Controls and Mitigation of Major Risks
The Trustee Board has an established risk management policy, and carries out regular risk identification exercises including review by the Trustee Board of major risks and the adequacy of the systems in place to mitigate them.
Disabled Employees
It is the company's policy to give employment to disabled persons wherever practicable.
Staff and Volunteers
We have five full time members of staff, three part-time members, four part-time minibus drivers and around 25 volunteers to help with a range of activities and services. These include driving the C&YP to and from the club, fundraising, clubroom sessions, administration, graphic design, website design, legal services and maintenance.
Political and charitable donations
No charitable donations were made during the year. No contributions to political organisations were made during the year.
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on X July 2024 and signed on the board's behalf by:
Mr S J Piper - Trustee
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rv 1A IMPACT REPORT c RIDE HIGH
WELCOME
We are delighted to present Ride High’s 2023 Impact Report.
Given the challenging times in which we are operating we are thrilled that we have continued to succeed in our mission to transform vulnerable young lives in Milton Keynes and surrounding areas. This annual report captures some of our greatest achievements.
As the demand for our unique service continues to increase year-on-year, it has long been our ambition to expand our programme to more children. Following a significant award from the National Lottery Community Fund, we were finally able to increase the number of children we support on a weekly basis by 50%. This resulted in our working with 337 children in need in 2023 – the most we’ve ever helped in any one year.
Such an expansion required a tremendous amount of preparation, including the recruitment of new staff and volunteers, training and development for our growing team, not-to-mention considerable logistical and operational planning. Our team is now all the stronger and the benefits of our efforts are reflected in the progress the children have made.
We take great pride in how we meticulously measure our impact and adapt our programme to meet the needs of our community. You will see how our outcomes data and feedback from members, their carers and referrers highlights how Ride High has increased the confidence, resilience, happiness and the health and wellbeing of our beneficiaries.
In 2023 we enjoyed greater engagement within the local community, working closely with a variety of businesses, and forging new collaborations with organisations including the Thames Valley Violence Reduction Unit.
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IN 2023 WE WE’VE WE WERE
WORKED WITH SUPPORTED ESTABLISHED
120 2,000+ 15
CHILDREN EACH CHILDREN IN YEARS AGO
WEEK TOTAL
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Our focus has always been local, but having now demonstrated our value over 15 years, confidence in our service is rapidly growing regionally and nationally. Awards from prestigious funders including the Henry Smith Foundation and the Masonic Charitable Foundation are a testament to the quality of our service, and are allowing us to strengthen our presence in Milton Keynes whilst developing plans to expand geographically and establish sites in additional locations where there is a need.
So, whilst this report looks back on the highlights of 2023 and aims to acknowledge those who have helped us get this far, we are also looking forward and invite existing and new supporters to join us on our journey. Together we are making a difference.
We hope you enjoy reading our report.
Thank you.
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Olivia Sugdon Phil Zeidler
CEO Chair of Trustees
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OUR STRATEGY
VALUES
VISION
To transform the lives of vulnerable and disadvantaged children and young people.
Encouraging Achieving Belonging Inspiring
OBJECTIVES
MISSION
Ride High will provide To support a minimum bespoke programmes using of 300 children and horses as a critical enabler to young people per year in improve the mental health, Milton Keynes and to wellbeing, and long-term expand our offering outcomes of vulnerable and within the next five years disadvantaged children and by opening at least one young people. more site.
We were chosen to meet His Majesty the King on his celebratory visit to Milton Keynes to mark its new status as a city. Ride High was proud to be included in the bid for city status.
RISING TO THE CHALLENGE
Milton Keynes is a vibrant new city within which we are very proud to play an important role. But many young people face huge challenges as a result of poverty, neglect and abuse, isolation and poor mental health, which make them vulnerable to a number of risks and can have a detrimental impact on their futures.
At Ride High we address these challenges by offering them a fun and educational programme that promotes physical activity in the great outdoors, that encourages the creation of positive relationships with people and animals, that develops skills and knowledge which drives self-confidence and self-worth and helps to enforce a healthy lifestyle.
By attending Ride High every week for up to a year, we provide young people with stability and consistency, and the transformations we witness are quite incredible.
We helped the MK Food Bank to break the Guinness World Record for the number of food cans lined up in a row.
<Riding makes me feel calm and sessions in the clubroom are great fun. I don’t worry and feel anxious like I used to. I take each day as it comes but the difference is that I now actually want to see tomorrow=.
Ride High member.
25%
30% KNIFE CRIME INTHE THAMES 25% OF CHILDREN VALLEY REGION OF 11-16 YEAR ARE LIVING IN TRIPLED OLDS SUFFER POVERTY BETWEEN 2015 WITH POOR AND 2023 MENTAL HEALTH
IN MILTON KEYNES
12% 67% stats OF NEIGHBOURHOODS OF THE MOST DEPRIVED ARE IN THE TOP 20% CHILDREN ARE NOT MOST DEPRIVED IN GETTING THE ENGLAND** RECOMMENDED DAILY EXERCISE
<I am impressed with Ride High’s provision for vulnerable young people facing challenging circumstances. After visiting the charity and speaking to the members I can see how their experiences with the horses have the power to act as a great early intervention or rehabilitation for those who may be at risk or have already been involved in offending. We whole-heartedly support their efforts as part of our commitment to the community=.
Dan Gidman, Police Sergeant, Inclusion & Engagement, Violence Reduction Unit, Thames Valley Police.
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We transformed our run-down With food donations from
orchard into a beautiful Greencore and The Grumpy
community sensory garden for Cook we’re able to provide our
our members and beneficiaries members with a healthy lunch
of other community groups to every day.
enjoy.
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Vital Signs MK 2024. Thames Valley Police.**Vital Signs MK 2023.
Ride High was very proud to carry the Baton Of Hope on part of its journey through Milton Keynes. The Baton of Hope UK Tour has become the UK's biggest ever suicide prevention initiative. We stand with all those involved across the whole country to raise awareness and more support of suicide prevention and mental health challenges.
<During difficult times, the incredible team and the beautiful horses have given my daughter a positive focus and a wonderful experience. She’s more settled and more focused. The service is invaluable and has made such a difference to her=.
OUR IMPACT
MEMBERSHIP
Parent of Ride High member.
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1% OTHER
58%
FEMALE
41%
GENDER MALE
8%
LIVED IN TOP 10%
17% 20% MOST DEPRIVED
14+YRS 5-7 YRS AREAS 30%
337 30% QUALIFIED
AGE FOR
CHILDREN & YOUNG ETHNICALLY 22%
FREE
PEOPLE DIVERSE LIVED IN TOP 30% SCHOOL
BACKGROUNDS 23%11-13 YRS 40% MOST DEPRIVED MEALS
8-10 YRS AREAS
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1%
SINGLE AGENCY
GROUPS
50%
SCHOOL
49%
GROUPS
MIXED
GROUPS
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Children are referred individually by professionals and are allocated a group when a place becomes available.
Schools and agencies also refer groups of children they identify as needing additional support.
REFERRALS WERE RECEIVED FROM
REFERRALS WERE RECEIVED FROM 12 SCHOOLS 47 TOOK PART IN OUR SCHOOLS AGENCIES PROGRAMME
REASONS FOR REFERRAL
26% YOUNG CARER 29% ABUSE & NEGLECT 58% SELF HARMING OR AT RISK OF 59% NEET OR LOW ATTENDANCE * 37% DOMESTIC VIOLENCE 71% SOCIALLY ISOLATED
80%
HAVE
MENTAL HEALTH CHALLENGES
AND SEVERAL OTHER MOUNTAINS TO OVERCOME...
*Not in Education, Employment or Training.
OUR OUTCOMES
ATTENDANCE
94% OF MEMBERS ACHIEVED THE RIDE HIGH AWARD
85%
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CHILDREN
72%
PARTICIPATED IN
136 ATTAINED A
FUN AND
POSITIVE
EDUCATIONAL DESTINATION
TRIPS ON LEAVING
RIDE HIGH
LOOK FEEL THEY
FORWARD HAVE CAN TALK TO
91% TO COMINGTO RIDE 79% FRIENDS ATRIDE HIGH 90% ABOUTSTAFF
HIGH THEIR
TROUBLES
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OUR OUTCOMES
We use a combination of methods to measure the impact Ride High has on children and young people. One such method is our Wellbeing Measure which allows our members to reflect on their own progress helping them to recognise their achievements. An initial assessment identifies areas of particular need for each individual to focus on and we support them to meet their goals - regularly repeating the measure to track their progress.
The Wellbeing Measure focuses on six key areas. Experience shows us that the most commonly shared areas where members require support are Self-esteem and confidence and Emotional resilience. Strong progress in these areas often leads to higher achievements in others.
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EMOTIONAL
RESILIENCE COMMUNICATION
SELF-ESTEEM
CONTRIBUTION WELLBEING &
MEASURE CONFIDENCE
SELF-
AWARENESS RELATIONSHIPS
& CONTROL
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Our data shows us that those with the highest needs achieve a higher level of progress, and often, that younger members make the most progress. This supports our early intervention programmes, but also our desire to expand our programmes specifically for teenagers.
MIXED GROUPS
SCHOOL GROUPS
90% MADE PROGRESS IN ONE OR MORE OF THEIR TARGET AREAS
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96%
MADE PROGRESS IN
ONE OR MORE OF
THEIR
TARGET AREAS
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WHERE CHILDREN MADE PROGRESS
86% COMMUNICATION 71% SELF-ESTEEM & CONFIDENCE 72% RELATIONSHIPS 71% SELF-AWARENESS & CONTROL 80% CONTRIBUTION 75% EMOTIONAL RESILIENCE
70% 67% 71% 67% 74% 78%
LEVEL OF PROGRESS ACHIEVED
BY THOSE WITH THE HIGHEST NEED
53% 28% SELF-ESTEEM & MADE GOOD MADE CONFIDENCE TO VERY EXCELLENT GOOD PROGRESS PROGRESS 50% 35% EMOTIONAL RESILIENCE
50% 35% MADE GOOD MADE TO VERY EXCELLENT GOOD PROGRESS PROGRESS
29%
MADE GOOD MADE TO VERY EXCELLENT GOOD PROGRESS PROGRESS
35% 61% MADE GOOD MADE TO VERY EXCELLENT GOOD PROGRESS PROGRESS
44%
OUR STORIES
Poppy was referred to Ride High with severe anxiety and a fear of leaving the house, which resulted in her missing four years of school. When Poppy joined us she was unsurprisingly quiet and awkward in a new setting. However, it was clear early on that she found great comfort in being with the horses, and she progressed quickly with her riding and groundwork. Within just a few months you’d find Poppy grooming on the yard with a beaming smile on her face. She began to talk openly to visitors about how she loved the responsibility of looking after the horses, and how being trusted to care for the horses boosted her confidence. Armed with her newfound skills and confidence she’s now looking to the future. She attended an interview at Moulton College, and was offered a place on their Equine Management course.
<Ride High ignited a passion within Poppy and empowered her to look to the future and not let her anxieties get in the way=. Poppy’s dad.
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POPPY, 17
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<His confidence has improved and coming to Ride High has helped him emotionally and at school. He lights up when he’s around the horses and always comes home from Ride High happy and chilled. It’s meant the world to us, and it’s meant the world to him=.
Archie’s mum .
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MARTINA, 16
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MARTINA, 16
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Martina was referred to Ride High by her social worker. Her first weeks at secondary school coincided with a family breakdown and she had to move house. It was a very challenging time which knocked her confidence. She spent most of her time alone and became severely isolated and depressed.
It took a little while to settle at Ride High but with the support of Mark, her Club Leader and in a safe environment she made new friends and started to speak out. Initially Martina was quite intimidated by the horses, but learning to look after them and to ride gave her a huge confidence boost. <For the first time I enjoyed learning and being around people and it showed me I can achieve anything in the right environment=.
Ride High provided Martina with the space to be who she wanted to be. She took great pride in her achievements and extended her efforts to school. Martina went on to complete her GCSE’s and is now happy at college.
LOUGHTON SCHOOL
<We have been attending Ride High for a few years now. The children we send may have Special Educational Needs or Social, Emotional and Mental Health Needs. I have accompanied the children and the impact Ride High has on them is wonderful to see. After their sessions they skip back into school and talk about what they’ve done at Ride High and how much they’ve enjoyed it. The horses are wonderful and so patient with the children; they appear to know and understand what they need. The team at Ride High really go the extra mile to ensure the children are all engaged. The difference we see in the children week on week is amazing; their increase in confidence is particularly impressive=.
Lucy Lock, Assistant Head for Inclusion & Key Stage One, Loughton Manor First School.
LIZZIE, 15
Home life for Lizzie was chaotic. Her family social worker referred her to Ride High to provide a positive and calming influence. Lizzie joined our Portfolio group for teenagers having never ridden a horse before. Naturally she was nervous, but with support from the Ride High team, within her first month she was delighted to be told she was 8riding like a professional9!
<It’s funny, I feel so relaxed when I’m on a horse now, I just forget about everything else, and it seems like the most natural place to be=.
Lizzie9s new riding ability filled her with great pride, a sense of accomplishment, and helped to steer her in a positive direction. Lizzie even chose to do her work experience placement at the Ride High Equestrian Centre.
OUR PEOPLE
OUR VOLUNTEERS stats
Our dedicated army of volunteers support our members week-in-week-out with their riding and clubroom sessions. They are a friendly and trustworthy face for our young people. Our volunteers find their Ride High experience equally rewarding. In 2023 we created a Volunteer Handbook and developed new training opportunities to provide them with additional support for their important role.
VOLUNTEERS DONATED OVER 87% 58 SAY IT SUPPORTS REGULAR 3300 THEIR MENTAL VOLUNTEERS HOURS IN HEALTH & 2023 WELLBEING
OUR TEAM
We are very fortunate and proud to have a friendly, caring, professional and highly skilled team leading Ride High. We are also a very happy team! We work tirelessly together to achieve our shared mission to support children with the highest needs in our community. Where possible, we support ex members to volunteer at the Ride High Equestrian Centre, and three young people have followed an apprenticeship - it9s wonderful to see those we have helped in the past come full circle, join our team and give back.
80% OF STAFF HAVE BEEN WITH US FOR 4-10 YEARS
"The absolute best part of volunteering every week is that I get to witness and be part of the transformation the children make in their time at Ride High.
My involvement with Ride High has given me a whole new perspective on life and I always look forward to coming to the centre every week to see the children."
Sean, Volunteer
FINANCES: EVERY PENNY COUNTS
Ride High was one of 200 organisations to be awarded funding from the Youth Justice Sports Fund StreetGames, a fund to help keep vulnerable young people away from crime and antisocial behaviour. The crime severity score in Milton Keynes increased from 8.2 to 14.8 between 2013 and 2022 and knife crime and youth violence are areas of concern*.
*Vital Signs MK 2023.
INCOME
EXPENDITURE
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£665K
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£692K
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Grants 43.1% Fundraising events 18.9% Donations 12.5% Rent & Investments 13.2% Referrals 9.9% Other 2.4%
Direct charitable activities (including horse sessions) 78% Raising funds 21% Ensuring good governance 1%
Fundraising in 2023 was unsurprisingly challenging with donations and events accounting for 14% less of our income than in the previous year. Fortunately success with our grant applications helped to fill the shortfall.
Our services remain free to children and young people. For every £1 donated, 78p goes directly on charitable activities. To help maintain financial stability during the cost-of-living crisis, we have increased investment in our fundraising efforts.
GRANT FUNDERS
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MARGARET GIFFEN
CHARITABLE TRUST
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FUNDRAISING
Our fundraising events throughout the year included a Quiz at the Marshall Amplification Studio, Golf Day at Woburn Golf Club, and of course our famous Ride High Ball with a Roaring Twenties theme started the year in true style. We9re grateful to everyone who supported these events and also to those who took on their own challenges and organised events to raise vital funds for Ride High.
In May we once again enjoyed watching our runners participate in the Milton Keynes Marathon Weekend - a fantastic community event.
Participation in the Big Give match funding campaigns gave our donors the opportunity to have their donations doubled for free.
We were also delighted to launch our new fundraising programme 8Hobby the Horse9 .
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HOBBY
THE
HORSE
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Hobby the Horse is a fun and educational programme where school children design and make their own Hobby Horse using recycled materials and hold an event to fundraise for Ride High. We've created fantastic resources for teachers to make the programme fun and easy to implement and it also complements the Key Stage 1 Curriculum. Several schools across Milton Keynes participated in the launch in 2023 and the feedback has been excellent. Our aim is to expand the programme in 2024.
www.ridehigh.org/hobbythehorse
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MATCH FUNDING SPONSORED
CAMPAIGNS CHALLENGES
Doubled donations enabled us to Digby and Max climbed to the top of
purchase 8Custard9 a new pony Scafell Pike with their legs tied together
for the children. and raised over £1000.
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RIDE HIGH
EVENTS
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CORPORATE TEAM EVENTS
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OUR CORPORATE SUPPORTERS
We are fortunate to have received support from many businesses and organisations across Milton Keynes who are just as passionate about making a difference to young lives as we are.
Together we have worked in a variety of ways that extend beyond purely financial input. Businesses have offered their time, expertise, skills and the commitment of their employees, and we have built strong partnerships that are beneficial to both parties.
Many organisations now offer their employees one or more volunteering days throughout the year, allowing them to select a charity to 8help out9. Several teams used their time to help onsite at Ride High, others organised a fundraising initiative or arranged a special event or visit to their workplace to educate our members about what they do. Some businesses offered their employees more flexibility and allowed them to use their time to volunteer at Ride High on a weekly basis for an hour or two for a term (twelve weeks). Volunteering in this way allowed individuals to have an even greater impact and a more rewarding personal experience.
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Fun and educational visits are an important
part of our programme. We were fortunate
to visit Red Bull Racing for a behind-the-
scenes tour.
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Teams from longstanding supporter SIS volunteered for the day in our community garden and donated Christmas gifts for our members.
“ Ride High aligns with our Stop Hunger Foundation goals by empowering those in our local community to gain new skills they can use for their future. We provide skills based and hands on volunteering opportunities for our employees with local charities.
<Ride High has been an amazing collaboration and a chance to use both these elements in one. Those who have taken part have gained a truly memorable and valuable time. We will continue to build on this and offer our employees the opportunity to do this for years to come.=
Clare Coleman, Diversity, Equity & Inclusion Lead, Sodexo.
OUR PLAN FOR 2024 & BEYOND
At Ride High we are constantly evolving our programme to ensure that we are addressing the challenges and needs faced by vulnerable children within the Milton Keynes community. We will continue to do this throughout 2024 and have exciting plans to introduce innovative educational projects in partnership with local businesses – further broadening the horizons of our young people.
Whilst we remain focused on supporting over 300 children and young people in need in Milton Keynes each year, we are also pursuing our plans to open at least one new site within the next five years, allowing us to extend our service beyond the city to areas with high needs. We are engaged in some very interesting opportunities but can’t reveal any details just yet – you’ll just have to watch this space!
Of course our plans are reliant on a strong team, a dedicated army of volunteers, donors, fundraisers and funders, partners and friends and we look forward to working together to achieve our ambitions.
<Thank you for the incredible impact you have had on our son. His confidence has improved no end, and he now has this wonderful spring in his step. I hope you fully appreciate the difference you make to these kids’ lives. Every child should have the opportunity to go to Ride High=.
Parent of a Ride High member.
WE CAN’T DO IT WITHOUT YOU...
... it’s true, we need you! You don’t always have to donate to make a difference. Below is just a handful of the ways you can support us.
ATTEND AN EVENT
Join us at one of our annual events.
VOLUNTEER
Make a difference to young lives and gain a rewarding experience.
FUNDRAISE
Create, bake, dance - there are lots of ways you can raise money to support us.
REFER
It's free and easy for professionals to refer MK-based children to our programme.
SPONSOR
HOBBY HORSE
Help us to expand our new fundraising programme.
SPONSOR
Sponsor a child to attend Ride High and change their life forever.
OFFER YOUR EXPERTISE
... to help us strengthen our outcomes.
COTY
Choose us as your Charity of the Year and work in partnership with us.
LEAVE A LEGACY
... that will transform young lives.
CHALLENGE...
... yourself to run, walk, cycle, swim... achieve your goal and get sponsored to do it.
THANK YOU
Thank you to everyone who supported us in 2023. Without you we could not have had such a positive and long-lasting impact on so many vulnerable young lives.
If you would like to discuss ways in which you can help us, or to make a donation please get in touch:
www.ridehigh.org
fundraising@ridehigh.org
01908 696169 / 07507 308943
Ride High Equestrian Centre Redland Drive Loughton MK5 8EJ
Find us on social media via @RideHighMK
Registered charity number: 1138260.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIDE HIGH LIMITED Independent examlner's report to the trustees of Ride Hlgh Limited I'the Company'l I report to the charity trustees on my examination of Ihe accounts of the Company for the year ended 31 December 2023. Responslblllties and basis of report As the charity's Iruslees of the Company {and also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {Ihe 2006 Acl'}. Having satisfied myself that the accounts of the Company arè not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respe of my examination of your charty's account5 as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act,). In c8rrying out my examination I have followed the Directions given by the Charity Commission under StIon 145151 Ibl of the 2011 Act. Independent examlnerfs Statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I Can confimi that l am qualified lo undertake Ihe examination because l am a member of the Ass(Kiation of Chartered Certrfied Accountants, which 1$ one of the listed bodies. I have compleleij my examination. I confirm that no matters have come to my attention in connection wf(h the examination gwing me Cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act". or the a¢counts 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 ¢onsKlered as part of an independent examination", or the accounts have not been prepared in aceord8nce wffh the methods and principles of the Sialemenl of Re¢¢)mmended Practice for accountin9 and reporting by charities (applicable lo charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). I have no concems and ha come across no other matters in connection with the examinalK)n to which attention should be drawn in this report in ordei lo enable a proper understanding of the accounts to be reached. Zubair Arshad FCCA ACA The Association ol Chartered Certified Accountants Ad Valorem Accountsncy Services Limited Chartered CertIfd Accourbtanls 2 Manor Fami Court Old Vvolverton Road Old Wolverton 8uckinghamshire MK12 5NN 21 June 2024 Page 18
RIDE HIGH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Voluntary income 2 148,043 Other trading activities 3 128,407 Investment income 4 83,810 Other income 4,000 Total 364,260 EXPENDITURE ON Raising funds 137,595 Charitable activities 5 Charitable activities 241,254 Total 378,849 NET INCOME/(EXPENDITURE) (14,589) RECONCILIATION OF FUNDS Total funds brought forward 427,156 TOTAL FUNDS CARRIED FORWARD 412,567 |
Restricted fund £ 309,889 - - - 309,889 - 315,688 315,688 (5,799) 15,947 10,148 |
2023 Total funds £ 457,932 128,407 83,810 4,000 674,149 137,595 556,942 694,537 (20,388) 443,103 422,715 |
2022 Total funds £ 351,383 139,240 82,480 - 573,103 108,618 523,396 632,014 (58,911) 502,014 443,103 |
|---|---|---|---|
The notes form part of these financial statements
Page 19
RIDE HIGH LIMITED
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Intangible assets 10 Tangible assets 11 Investments 12 CURRENT ASSETS Debtors: amounts falling due within one year 13 Debtors: amounts falling due after more than one year 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 18 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 £ 6,071 41,021 100 47,192 162,450 208,092 171,641 542,183 (166,660) 375,523 422,715 - 422,715 412,567 10,148 422,715 |
2022 £ 7,125 17,655 100 24,880 144,163 283,092 210,760 638,015 (168,214) 469,801 494,681 (51,578) 443,103 427,156 15,947 443,103 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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
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continued...
RIDE HIGH LIMITED
BALANCE SHEET - continued 31 DECEMBER 2023
The financial statements were approved by the Board of Trustees and authorised for issue on 21 June 2024 and were signed on its behalf by:
Mr S J Piper - Trustee
The notes form part of these financial statements
Page 21
RIDE HIGH LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 20 Finance costs paid Net cash used in operating activities Cash flows from investing activities Purchase of intangible fixed assets Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ (29,604) 1,470 (28,134) - (33,629) 4,000 18,644 (10,985) (39,119) 210,760 171,641 |
2022 £ (145,574) (1,578) (147,152) (7,500) (1,971) - 19,013 9,542 (137,610) 348,370 210,760 |
|---|---|---|
The notes form part of these financial statements
Page 22
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' Report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when it is received.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
INTANGIBLE ASSETS
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer software
- Evenly over 7 years
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Page 23
continued...
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
TANGIBLE FIXED ASSETS
| Fixtures and fittings | - 20% on cost |
|---|---|
| Motor vehicles | - 20% on cost |
| Computer equipment | - 20% on cost |
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.
HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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.
2. VOLUNTARY INCOME
| Unrestricted funds £ Donations 83,031 Similar incoming resources 13,984 Grants 51,028 148,043 OTHER TRADING ACTIVITIES Unrestricted funds £ Fundraising events 128,407 |
Restricted funds £ - 65,704 244,185 309,889 Restricted funds £ - |
2023 Total funds £ 83,031 79,688 295,213 457,932 2023 Total funds £ 128,407 |
2022 Total funds £ 121,679 80,232 149,472 351,383 2022 Total funds £ 139,240 |
|---|---|---|---|
3. OTHER TRADING ACTIVITIES
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continued...
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
4. INVESTMENT INCOME
| Unrestricted Restricted funds funds £ £ Rents received 65,166 - Deposit account interest 1,328 - Interest receivable - trading 17,316 - 83,810 - |
2023 Total funds £ 65,166 1,328 17,316 83,810 |
2022 Total funds £ 63,467 1,499 17,514 82,480 |
|---|---|---|
5. CHARITABLE ACTIVITIES COSTS
| Direct charitable activity Support costs Property costs Total charitable activities Total 2022 |
Restricted funds 2023 £ 235,655 5,599 - 241,254 187,285 |
Unrestricted funds 2023 £ 110,518 122,709 82,461 315,688 336,111 |
Total funds 2023 £ 346,173 128,308 82,461 556,942 523,396 |
Total funds 2022 £ 335,017 100,266 88,113 523,396 |
|---|---|---|---|---|
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets Other operating leases Surplus on disposal of fixed assets Computer software amortisation |
2023 £ 10,263 69,759 (4,000) 1,054 |
2022 £ 6,201 112,113 - 375 |
|---|---|---|
7. AUDITORS' REMUNERATION
The Independent Examiner's remuneration amounts to an Independent Examination fee of £850 (2022 - £750).
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RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
9. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Staff No employees received emoluments in excess of £60,000. |
2023 £ 343,133 14,104 357,237 2023 13 |
2022 £ 295,875 5,867 301,742 2022 13 |
|---|---|---|
10. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Computer | |
| software | |
| £ | |
| COST | |
| At 1 January 2023 and | |
| 31 December 2023 | 7,500 |
| AMORTISATION | |
| At 1 January 2023 | 375 |
| Charge for year | 1,054 |
| At 31 December 2023 | 1,429 |
| NET BOOK VALUE | |
| At 31 December 2023 | 6,071 |
| At 31 December 2022 | 7,125 |
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RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. TANGIBLE FIXED ASSETS
| Livestock £ COST At 1 January 2023 - Additions 5,000 At 31 December 2023 5,000 DEPRECIATION At 1 January 2023 - Charge for year 250 At 31 December 2023 250 NET BOOK VALUE At 31 December 2023 4,750 At 31 December 2022 - |
Fixtures and fittings £ 8,253 28,629 36,882 6,545 4,214 10,759 26,123 1,708 |
Motor Computer vehicles equipment £ £ 46,935 2,977 - - 46,935 2,977 30,988 2,977 5,799 - 36,787 2,977 10,148 - 15,947 - |
Totals £ 58,165 33,629 91,794 40,510 10,263 50,773 41,021 17,655 |
|---|---|---|---|
12. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1 January 2023 and | |
| 31 December 2023 | 100 |
| NET BOOK VALUE | |
| At 31 December 2023 | 100 |
| At 31 December 2022 | 100 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
PegasusforRideHigh Limited
Registered office: Ride High Equestrian Centre, Milton Keynes MK5 8EJ
| % Class of share: holding Ordinary 100 Aggregate capital and reserves Profit for the year |
2023 £ 100 91,975 |
2022 £ 100 105,772 |
|---|---|---|
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RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 13. DEBTORS Amounts falling due within one year: Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income Amounts falling due after more than one year: Other debtors Aggregate amounts |
2023 £ 26,356 21,077 93,538 21,479 162,450 208,092 370,542 |
2022 £ 20,701 40,180 69,036 14,246 144,163 283,092 427,255 |
|---|---|---|
Other debtors includes £208,092 due after more than one year and £75,000 due within one year from PegasusforRideHigh Limited.
| 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade creditors 28,059 Social security and other taxes 10,225 VAT 6,136 Other creditors 4,441 Accruals and deferred income 117,799 166,660 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Other loans (see note 16) - 16. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling between one and two years: Other loans - 1-2 years - |
2022 £ 17,884 8,787 6,846 1,478 133,219 168,214 2022 £ 51,578 2022 £ 51,578 |
|---|---|
The Charity repaid the remainder of the outstanding loan to the total of £50,000 on 15th March 2023 with £1,578 interest written off.
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continued...
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Fixed assets 36,944 Investments 100 Current assets 442,227 Current liabilities (66,704) Long term liabilities - 412,567 |
Restricted fund £ 10,148 - 99,956 (99,956) - 10,148 |
2023 Total funds £ 47,092 100 542,183 (166,660) - 422,715 |
2022 Total funds £ 24,780 100 638,015 (168,214) (51,578) 443,103 |
|---|---|---|---|
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continued...
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
18. MOVEMENT IN FUNDS
| Unrestricted funds Restricted funds Total of funds |
Balance at 1 January 2023 £ 427,156 15,947 443,103 |
Income £ 364,260 309,889 674,149 |
Expenditure £ (378,849) (315,688) (694,537) |
Balance at 31 December 2023 £ 412,567 10,148 422,715 |
|---|---|---|---|---|
Analysis of movement in restricted funds
| The Mills Equus Trust Referral Income Jim Marshall Marshall Trust Postcode Society The Parks Trust Rotary Club MK Rotary MK Community Grant D'oyly Charitable Trust Margaret Giffen Trust Carrington Charitable Trust Nineveh Trust CLA Charitable Trust Street Games On Track Education Services S Rivvett Carnac L&Q Place Makers Shanly Foundation Masonic Grant BBC Children in Need The Holt Trust National Lottery Grant Hargreaves Foundation Henry Smith Charity Duke of Westminster Foundation |
Balance at 1 January 2023 £ 2,371 12,171 - - - 1,405 - - - - - - - - - - - - - - - - - - - - 15,947 |
Income £ 9,151 45,373 1,518 6,381 9,917 - 1,000 756 20,000 5,000 5,000 500 2,000 2,000 16,000 1,212 1,000 5,000 2,500 5,000 27,976 150 104,835 23,920 13,700 10,000 309,889 |
Expenditure £ (11,522) (48,801) (1,518) (6,381) (9,917) - (1,000) (756) (20,000) (5,000) (5,000) (500) (2,000) (2,000) (16,000) (1,212) (1,000) (5,000) (2,500) (5,000) (27,976) (150) (104,835) 23,920 (13,700) (10,000) (315,688) |
Balance at 31 December 2023 £ - 8,743 - - - 1,405 - - - - - - - - - - - - - - - - - - - - 10,148 |
|---|---|---|---|---|
Description, nature and purpose of restricted funds Name of restricted fund Description, nature and purposes of the fund
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RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
18. MOVEMENT IN FUNDS - continued
The Mills Equus Trust To provide funding for the lease obligations at the Ride High Equestrian Centre MK Community Foundation To provide funding for staff salaries as part of the Red Cross programme Bernard Sunley Foundation To repair the roof at Ride High Equestrian Centre Referral Income Received from schools to fund the fixed term group lessons provided to them Jim Marshall To repair the onsite heating Marshall Trust To repair the roof at Ride High Equestrian Centre Postcode Society To provide riding lessons for members The Parks Trust To repair the fencing at Ride High Equestrian Centre Rotary Club To fund the Mosaic Project MK Rotary To fund the Mosaic Project MK Community Grant To fund the Sensory Garden project D'oyly Charitable Trust To provide riding lessons for members Margaret Giffen Trust To provide riding lessons for members Carrington Charitable Trust To provide funding for the salary of the Centre Manager Nineveh Trust To provide riding lessons for members CLA Charitable Trust To provide riding lessons for members Street Games To fund the Sensory Garden project On Track Education Services To provide supported learner assistance for 12 weeks S Rivvett Carnac To fund the Sensory Garden project L&Q Place Makers To provide funding for the salary of the Club Leader Shanly Foundation To provide riding lessons for members Masonic Grant To provide funding for the salary of the Development Manager BBC Children in Need To provide funding for the salary of the Club Leader The Holt Trust To fund the Sensory Garden project National Lottery Grant To provide riding lessons for members Hargreaves Foundation To provide riding lessons for members Henry Smith Charity To provide funding for the salary of the Centre Manager Duke of Westminster Foundation To repair the roof at Ride High Equestrian Centre
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
20. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Profit on disposal of fixed assets Interest received Finance costs Decrease in debtors Decrease in creditors Net cash used in operations |
2023 £ (20,388) 11,335 (4,000) (18,644) (1,470) 31,303 (27,740) (29,604) |
2022 £ (58,911) 6,576 - (19,013) 1,578 106,749 (182,553) (145,574) |
|---|---|---|
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continued...
RIDE HIGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
21. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash Cash at bank and in hand Debt Debts falling due after 1 year Total |
At 1/1/23 £ 210,760 210,760 (51,578) (51,578) 159,182 |
Cash flow At 31/12/23 £ £ (39,119) 171,641 (39,119) 171,641 51,578 - 51,578 - 12,459 171,641 |
Cash flow At 31/12/23 £ £ (39,119) 171,641 (39,119) 171,641 51,578 - 51,578 - 12,459 171,641 |
|---|---|---|---|
| 171,641 | |||
| - | |||
| - | |||
| 171,641 |
Page 32