REGISTERED COMPANY NUMBER: 07363597 (England and Wales) REGISTERED CHARITY NUMBER.. 1138260 TRUSTEES. REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR RIDE HIGH LIMrrED (A COMPANY LIMITED BY GUARANTEE) Ad Valor8m Audit Services Limited Chartered Certrfied Accountants & statutory Auditors 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes Buckinghamshire MK12 5NN
RIDE HIGH LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Adminlstratlve Details Trusteos. Report Impact Report 7 to 18 Report of the Independent Audltors Statement of Consolldated Flnancial Activlties Consolidated Balance Sheet 19 to 22 23 24 Company Balance Sheet 25 Cash Flow. Statoment 26 Notes to the Financial Statements 27 to 38
RIDE HIGH LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Dr K Ali (resigned 27 September 2024) MrJHGeary Mr R Harper Mr l E Hillman (appointed 28 March 2025) Mrs J L Horridge (appointed 28 March 2025) 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 COMPANY SECRETARY Miss R K Turner REGISTERED OFFICE Ride High Equestrian Cenlre Redland Drive Loughton Milton Keynes Buckinghamshire MK5 8EJ REGISTERED COMPANY NUMBER 07363597 (England and Wales) REGISTERED CHARITY NUMBER 1138260 AUDITORS Ad Valorem Audit Servi$ Limited Chartered Certified Accountants & ststutory Auditors 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes Buckinghamshire MK12 5NN Page 1
RIDE HIGH LIMITED GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees. (who are also Directors of the Charity for the purposes of the Companies Act), present their Annual Report together with the Consolidated Financial Statements of Ride High Limited for the year ended 31 December 2024. 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 Practi (Charities SORP (FRS102)). 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 entY-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 benefil who have need by reason of povety or social and economic circumstances andlor mental health problems arising from medical conditions with a view to improving the conditions of lrfe of such children and young persons. Summary of the maln activities undertaken for the public bènefit 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 IC&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 povety. 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 sm211 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 lrfe 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 plaMentS or routes to fvrther 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 lo each week. As they learn new skills their confiden 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 monlhs. 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 2024 Impact Report, on pages 6-16. Page 2
RIDE HIGH LIMITED GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Additional details of objectives and actlvitias 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 fvll-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 beeen their schoolslhomes 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 a net deficit for the year of £39,896. Reserves policy The Group's assets are a combination of restricted funds, tangible fixed assets and amounts designated for essential future spending. The Group therefore has no reserves as such. However, one of the Charity's core principles is a commitment to provide long-term support to those who really need it and we plan to offer programmes of between six and twelve months, duration to the majority of C&YP who come to us. The Charity endeavours to meet this commitment by retaining sufficient liquid resources to withstand an unexpected shortfall in funding. Ride High's policy is to hold liquid resources equivalent to at least six months, expenditure, excluding fundraising costs, so that it could continue to provide a seNice in the event of unexpected financial difficulties. Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Group 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 adopl 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. Page 3
RIDE HIGH LIMITED GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Financial review Further financial revlew details Consolidated income across the group has remained consistent with the prior year, with increased income from the Ride High Equestrian Centre (RHEC)- our wholly owned subsidiary- offsetting a reduction in income from Ride High. In common with many organisations in the sector it has been a challenging financial year for Ride High with total income down on the prior year. Our revenue streams include donations. profits from fundraising events, income frotn sucSsful granl applications. and referral income from educational institutions that connect children and young people to our programmes, and the reduced income has been spread across several of these sources. As ever one highlight of the yearwas ourflagship fundraising event. the Winter Ball. which raised over£65,000. Whilst this is an excellent outcome it was half of what we raised the previous year. This event provides an opportunity to showcase the charity and its work as well as generating 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 remained similar to lasl year as we continue to 2025. we benefit 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. However, the overall grant making environment has become increasingly competitive with a substantial increase in applications to grant makers in part driven by Al technology and need as the cost-of-living crisis deepened. Ride High Equestrian Centre {RHEC} continues to perform well. We received a principal repayment of £75,000 with furlher repaymenls anticipated in the coming years. ensuring they remain on track for full repayment of the initial £383,082 loan by the end of 2026. The RHEC operates as a commercial, urban equestrian centre and provides livery, riding lessons and holiday activities for the public. In addition to providing the equine element of the Ride High programmes, it also works directly with the local council to provide sessions for children who are NEET or on reduced timetables. Many of these children are not eligible for the charity programmes due to their individual needs. As we look ahead, whilst the macroeconomic outlook remains challenging Ride High has plans in place to remain financially robust, increasing the number of fundraising events we hold and pursuing a range of other areas to further increase our revenue, and the Trustees 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. Recruitment and appointment of new trustees The Group operates selection criteria for recruitment of Trustee Directors so as to ensure that their skills and experience retlect the governan and operational needs of the Group. 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 Group 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 al our Centre. The Chief Executive of the Company. Ms O F Sugdon attends meetings of the Trustee Board. Internal Controls and Mitlgation 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. Page 4
RIDE HIGH LIMITED GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Disabled Employees It is the Group's policy to give employment to disabled persons wherever practicable. Staff and Volunteers In Ride High we have four full time members of staff, seven part-time members, three part-time minibus drivers and around 50 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. The trading subsidiary. Pegasus for Ride High Itd, has four full time members of staff, six part time members, and two apprentices who work in the equestrian centre. Political and charitable donations No charitable donations were made during the year. No contributions to political organisations were made during the year. TRUSTEES, RESPONSIBILITY STATEMENT The trustees (who are also the direclors of Ride High Limited for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for thal period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudenl. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Page 5
RIDE HIGH LIMITED GROUP TRUSTEES. REPORT FOR THEYEAR ENDED 31 DECEMBER 2024 Trustees. report, incorporating a strategic report, approved by order of the board of trustees, as the company directors. on 29 Seplember 2025 and signed on the board's behalf by: Mr S J Piper - Trustee 3010912025 Page 6
RIDE HIGH Impact Report 2024
Welcome We are proud to present Ride High's 2024 Impact Report. In an ever-changing and increasingly challenging environment, we remain steadfast in our mission to transform the lives of vulnerable young people in Milton Keynes and the surrounding areas. This year's report hlghlights not only the continued strength and impact of our work but also the exciting steps we are taking to extend our reach. Despite the pressures faced by the sector, we have maintained our high standards and delivered lasting change for the children we support. Our outcomes data, combined with feedback from our members, their families, and our referral partners, continues to demonstrate the positive influence Ride High has on building confidence, resilience, and improving the mental health and wellbeing of our beneficiaries. Established in 2009 We've supported 2,380+ children in total In 2024, we exceeded the expanded capacity achieved in 2023, reaching 379 children in need. Our team remains stronger and more resilient, having adapted to the increased demand with dedication and care. We have also continued to deepen our partnerships with local businesses and organisations, ensuring that our presence and impact are felt throughout the community. What's more, we are now on the cusp of an exciting new chapter. Building on the confldence shown in our model by both local and national partners, we are preparing to establish a new site in the north western region of the country. This particular expansion will allow us to bring the Ride High programme to even more children. Even more exciting is that this is Just one of two potential new sites planned for the next three yearsl As we look back on another year of remarkable achievements, we also look for¥vard with optimism and ambition. We are deeply grateful to all those who have supported us on this journey our partners, funders, volunteers, and the entire Ride High community, Your continued belief in our mission is what makes this progress possible. We invite you to join us as we take these exciting next steps. Together. we can continue to make a lasting difference in the lives of vulnerable children. 441 We hope you enjoy reading our 2024 Impact Report. Winner of 'Outstanding Local Charit Olivia Sugdon CEO Phil Zeidler Chair of Trustees
Vital Signs in MK From waiting to wellbeing 32/ of children in MK are living in poverty Milton Keynes is a vibrant and growing city, and we are proud to play an important role in supporting its young people. However, the challenges faced by vulnerable children and families continue to rise. Increasing numbers of young people are struggling with poor mental health triggered by a variety of causes including poverty, trauma, abuse and neglect. Unfortunately, demand for mental health servlces far exceeds capacity, leaving many children waiting too long for the support they desperately need. At the time of writing, Ride High has over 150 children on its waiting list. Our aim is to bring these children into the programme within three to six months, ensuring they receive the stability and support they need before their challenges escalate. By offering early intervention, Ride High helps to plug this critical serrfice gap. Our work not only supports children through a difficult period but also reduces the likelihood of their problems worsening over time - alleviating pressure on already overstretched services like CAMHS (Child and Adolescent Mental Health Services), both now and in the future. 25/ of pupils aged 11-16 said they had a mental health problem 26/ of secondary school students missed 10Yo of school in 2023 Anxiety is the biggest reason for low attendance The average wait for an assessment from CAMHS is 20 weeks Our programme goes beyond emotional and mental wellbeing by promoting physical activity and encouraging a healthy lifestyle. Time spent outdoors wlth horses provides children with a unique opportunity to connect with nature, build positive relationships, and develop essential life skills. and for a follow-up is 27weeks The transformations we witness are truly inspiring. By intervening early and addressing multiple challenges at once, we empower young people to grow in confidence, resilience, and self-worth, glving them the best possible chance of a brighter future. 50%+ of pupils aged 11-16 are not active for the recommended 60 minutes a day Expansion on the horizon wital Signs Report 2024 & 2025. MK Community Foundation. Ride High has a proven track record of transforming young lives. Our continued success has led to growing demand, with increased referrals from medical professionals, social services. and schools, alongside long-term grants from major funders such as the National Lottery. the Henry Smith Foundation and Children in Need. To meet this rising need, our Trustees are committed to expanding our services to reach more vulnerable children. W6 are excited to be developing a new site in the north west region of the country, with plans for a potential third site closer to home.
"I have loved coming to Ride High. Ie made so many friends and I feel more confident and I feel important. These things make me very happy". Rtde High Member. Impact 3% Other 11/ Ilv8d In the .Cop 10% most deprived areas 31% Ethnically er8e rou 36% Male 61% Female 31/ Lived in the top 30% most deprived area8 19% 14+ yrs 21% 5-7 yrs 379 30°/4 Qualhled for Frae School Meals 25% 11-13 yrs 35% 8-10 yrs yOg people Dld you kno All children are referred to Rlde High by professionals. 56% are referred indlvidually, but school8 and agencies also refer groups of children they Identify as n8eding additional supporL Reasons for referral 77% Family situation 69% Social isolation Self harm Bullying Low school attendance Domestic abuse Suicide attempts & thoughts Referra18 wore received from 13 40% 40%W 53 Schools took part in our Schools Programme 65/ agencles have Mental Health Challenges... and several other mountains to overcome. 14-year%)Id Layla struggled with extreme anxiety and OCD, which worsened during COVID. Her fear of contamination led to excessive washing, avoiding touch, and refusing food, causing her to withdraw from school and become very isolated. Despite these challeng8s, Layla found comfort in her love of animals, with her pets helping to manage her anxiety. After months of waiting for mental health support, Layla was referred to Ride High. Attending took immense courage, but it enabled her to rebuild her confidence and begin her journey toward healing. -We've seen Layla flourish since she's been here. She was lonely and frightened and in a really d8rk place. Now each week she Gomes out of Ride High having learnt a new skilL hawng overcome a new challenge and gaining a new friend. The support from the team has been instrumental in her thriving and it's like she's come alive again. Ride High has given Layla her life back" Layts's mum. Layla
Outcomes In January we launched a I twtryear partnership with I MK-based mental health service Arthur Ellis. Attendance 99/ 89/ of members achieved the Rlde High Award i After starting at Ride High we often find children want to opeTrup about their challenges. This partnership allows us to provide additional wellbeing and resilience support to our members at a time that is right for them. This 4$ exceptional given that many of our members are not in full time education. 270 Children participated in addltional actlvltles 74/ Attained a Positive destlnation on leaving Ride High "l enjoy being with the horses and riding has really helped my confidence. tt makes me happy and I have achieved so much. I was struggling with my mental health, but now I'm doing much better. I'm even enjoying school now. It's made me a betterperson." Ride Hlah MeMr. 61 Engaged In I su ltie8 Indlvldual I onlln6 counselllng I ,¥esslons I Look forward to coming to Ride High Have friends at Ride High Feel they can talk to staff about their troubles Arthur Ellis Like many teenagers, Andy's mental health declined during COVID, and by the time her GCSES came around, she was really struggling. With school attendance at just 27%. and despite receiving therapy. her mental health continued to deteriorate. At just 15. Andy made a second attempt on her life. After being referred to Ride High by CAMHS, Andy joined a 12-week programme. From her first day, she bonded with Smartie, one of our ponies, finding comfort in whispering her worries to him. Over the weeks, Andy's time with Smartie, support from tha team, and connection with other group members brought a positive shift. She transformed into a confident, vibrant young person - a stark contrast to the Andy who first arrived. Since leaving Rid8 High, Andy has thrived and is studying at equine college. Andy courageously shared her story with over 200 guests at the Ride High Ball, receiving a standing ovation for her inspiring story. Andy .
Outcomes Emotlonal Re8lUence At Ride High, we carefully track the progress of the children we support using a variety of methods, including our Wellbeing Measure. This tool helps members reflect on'their achievements while allowing us to identify areas where they need the most support. Progress is monitored regularly, with a focus on six key areas - often, self-esteem, confidence, and emotional resilience emerge as the most common areas where our members need support. Our data consistently shows that children with the greatest needs make the most significant progress, and younger members often benefit the most. mmunlcatl ontrfbutlo Wellbeing Measure confldenc Self-awarene88 & contr ReEatlon8hlpi, , Mlxed groups School groups 99/ 100/ Made progress In one or more of their target areas Made progress in one or more of their target areas Where children made the most progress 79Y. Communlcation 67Y. 74/ Self-e8teem and confidence 68% Relatlonshlps 69/. 1•73%1 Self-awareness & control 69'A 75% Conlributlon Emotlonal resllience 77Y. Level of progress achieved by those with the highest need The two highlighted areas are the foundation upon which all others are built. 87/ 82/ Made exceltent or good progress Self-esteom & confidenee Made excellent or good progress 93/ 94/ Made excellent or good progress Emotional resilience Made excellent or good progress
When 16-year-old Cameron first joined Ride High, he was extremely anxious. Living with Autism Spectrum Condition, anxiety, and a moderate learning disability, he worried no one would like him - and wasn't sure he'd be able to get on a horse. But from his very first session, Cameron surprised himself. and his confidence steadily grew. Through the clubroom sessions he began to share his thoughts and make friends, showing incredible kindness to everyone around him. Riding didn't come easily at first. but with encouragement, Cameron mastered rising trot- and soon he was able to trot independently, beaming with pride. Cameron's journey at Ride High was transformationaL He overcame his self-doubt, built strong friendships, and developed a belief in himself that he hadn't felt before. As he said with a huge smile, "They really do like me." His mum told us: "I can't thank you OUgh you've changed Cameron's life, and he will cherish his time at Rid8 High forever." Cameron When Rosie was bullied at school, she became anxious and started to question her self-worth. With nowhere to turn for suppo¢ Rosie felt let down and isolated. Her mental health was suffering and after a visit to A&E where she couldn't even be seen, her family felt helpless. Then, someone mentioned Ride High-and ev8rything changed. From the moment she found out she had a place, Rosie had something to look forward to. Meeting Mark and the team, who instantly understood and connected with her, gave her a Sense of belonging, and she was able to build new friendships. The horses, especially her favourite Norbert, project work in the clubroom, and the consistent routine of her weekly visit helped her to thrive. Rosie never missed a session even when unwell - and always returned home with lots of stories to share. Rosie Ride High gave Rosie confidence, stability, and joy and had a profound impact on her whole family. "After such a difficult time, we can't thank you enough for everything you have done", mum and dad said. °It's been life changing". "At Priory Common School, we have been privileged to work with Ride High for the past three years, providing our vulnersble pupils with unique experiences in riding and working with horses. These sessions have significantly contributed to ourpupils, resiliance and self-confidence, perfectly aligning with our school motto.. We take Pride, w8 Cara, we are Successful., The Ride High staff are exceptional, consistently adapting to the individual needs of each pupil. ensuring that every child benefits from this enriching experience." Gill Cash, H6ad of Priory Common School.
Our people 40/ Our volunteers Have been volunteering for Our incredible volunteers are an essential part of the Ride High family. Week after week, they provide support to our members during their riding and clubroom sessions, off ering a friendLy and trustworthy presence that helps children feel safe, valued, and encouraged. The impact of our volunteers goes beyond their time and commitment- they create a positive and nurturing environment where children can thrive. In return, many of our volunteers describe their experience at Ride High as deeply rewarding, knowing they are playing a vital role in transforming young lives. Our volunteers are truly at the heart of everything we do. Their dedication and compassion make it possible for us to continue delivering life-changing support to the children who need it rnost. li V0knteers donated over 96/ 3,000 say it su their mentsT health & wellbeing hours in 2024 How volunteers benefit from volunteering at Ride Hlgh 'The main highlights for me come at random moments when I see particular young people developing in Gonfidence or altering their attitudes and behaviours in a more positlV8 way. I benefit personally by getting a real sense of achievement from the responses of the young people and the staff. The team could not be more welcoming and friendly." Sue. Rlde High Volunteer. Give back to the community 92% Make a difference to young lives Meet new people 56%W 44%M Develop new skills Grow in confidence and self-esteem Our team We are incredibly proud to have a friendly, compassionate, and highly skilled team at the heart of Ride High. Their unwaivering dedication ensures that we continue to support the children with the highest needs in our community. In 2024, we were especially delighted to celebrate a remarkable milestone- Hannah, our Children's Manager, marked 10 years with Ride High. Her dedication and passion over the past decade have made a lasting impact on countless young lives, and we are so grateful for her continued commitment to our mission. Together, our team remains the driving force behind everything we do, ensuring that Ride High continues to make a real differance in the lives of vulnerable children.
Our supporters "At cran$ck it is our aim to raise the living standards across our local ommunity through various charitable I and social ventures. Since late 2023 1 we have grown our partnership with Ride High in various ways from I providing funds through our Sports Grant to purchase new helmets for school holiday camps, to sponsoring. I supportlng and participating in fundraising events. Ourposition as one of the ufs largest food manufacturers has also allowed us to work with Ride High's younger members to expand the children's understanding of a healthy I and balanced diet, while having some I I fun at the same time! We're extremely proud to support Ride High and we look forward to expanding our partnership in the future." We are incredibly grateful for the continu8d support from businesses and organisations across Milton Keynes, whose passion for transforming young lives mirrors our own. Our corporate partners go beyond financial contributions, offering their time. expertise. and resources to create meaningful and lasting impact. In 2024, Ride High hosted several Corporate Social Responsibility days, welcoming teams from Santander, Aggregate Industries UK. SIS. BSI. and Pragmatiq to name a few. These teams took on various projects to help maintain and improve our site, ensuring a safe and pleasant environment for our members. Other organisations including Pluxee enabled their employees to use their volunteer days over a 12-week period. providing consistent weekly support to the children on our programme. This regular involvement allowed volunteers to build strong relationships with the children and witness the positive impact of their contributions firsthand. We were also delighted to welcome Niftylift, whose team delivered engaging STE (Science, Technology, and Engineering} projects in our clubroom. These unique sessions sparked curiosity and inspiration, opening our children's eyes to exciting future possibilities. Adam Cook Senlor Catogory Marketing Manager These partnerships not only enrich the experiences of our members but also offer employees a rewarding opportunity to make a genuine difference and we look forward to building on these relationships in the future. CRANSWICK AVAIL AUSTINI CARhJLEY ford Business BAILEY MK CLIM QUEST couE¢T S Y 5 T I kl S CRANSWICK FACILITIES MANAGEMENT Ptate li/erd,i PHOTOGIWIIY Gl.'cilori Greencore SOWTION$ PRAGMATIQ rh RESOLUIION HONES ftBÉQVFSTAIAtr4 RSM sysmex •• •• JTHE Wastesolve6
Funding our mission Income Expenditure 81p of every £1 donated goes directly to charitable activities £651K £736K Our Social value" Grants 49.33% Fundraising events 14.44% ,U Donations 11.88% Rent & Investments 12.07% Schools Programme 12.01% other 0.27% Direct charitable activities (including horse sessions) 80.66% Raising funds 18.39° Ensuring good governance 0.94% Improved confldence and S61f-esteem £278,559 * We've begun using the HACT Social Value Bank Methodology to help measure the broader impact of our work. This currently reflects just two key outcomes. Our over211 impact is far greater. but not all our outcomes currently align with those in the HACT model. We're committed to growing our us6 of social value reporting as part of our impact measurement. Improved social skills £258,750 Grant funders )} I%F.STfviINSTL.R'S COMMUNITY FUND co op -.us Trnvel FOVMP4710N NKidsOut Masonic NEWBY TRUST &p4wtr4•PY Chartth¢foun& rJllL' Stop SHANLY- FOUNDATION THE75TARS FOUNOATION Irij CHILDWICK 79V5T The Henry Smith Charity HAXGRE'AVES The Hobson Charity Nt TAFISS¥EO& FOUNDATION TOYOTA
Fundraising In 2024 fundraising events were diverse and supported by a wlde variety of individuals and partners. Our Diamonds Are Forever-themed Ride High Annual Charity Ball da72led guests, while our third Charity Golf Day at Woburn Golf Club proved another great success. We also welcomed cyclists back for our third Ride High CycLe Challenge and cheered on our runners participating in the Milton Keynes Marathon Weekend. Beyond our own events, dedicated supporters took on personaL challenges, including the London Landmarks Half Marathon, to raise vital funds for Ride High. We also launched our Gather and Graze for Good campaign, encouraging communities to come together in support of our cause. We participated in Big Give match funding campaigns for the third year running. Giving our donors the opportunity to have their donations doubled for free. We're incredibly grateful to everyone who contributed whether by attending events, taking on challenges, or donating. gather .graze FOR GOOD Fl ¢• *ot
rtx Ill RIDE HIGH www.rid high.org 01908 696169 / 07507 308943 SCAN ME info@ridehigh.org Ride High Equestrian Centre. Redland Drive, Loughton, MK5 8EJ Find us on social media via @RideHighMK in Ride High Registered Charity Number. 1138260
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RIDE HIGH LIMITED Opinion We have audited the financial statements of Ride High Limited (the 'charitable company,) for the year ended 31 December 2024 which comprise the Ststement of Financial Activities, the Balance Sheet, the Cash Flow Statemenl and notes to Ihe financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view, seen as at the date of the original financial statements were approved. of the state of the group and the charitable company's affairs as at 31 December 2024 and of its incoming reSoUrS and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice seen as at the date the original financial statements were approved" and have been prepared in accordance with the requirements of the Companies Act 2006 as they have effect under the Companies (Revision of Defective Accounts and Reports) Regulations 2008. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomiation. The other information comprises the information included in Ihe Annual Report, other than the financial statements and our Repori of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In (x)nnection with our audit of the financial statements, our responsibility is to read the other infonmation and. in doing so, consider whether the other infomation is materially inconsistent with the financial ststements or our knowledge obtained in the audil or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 19
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RIDE HIGH LIMITED Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you rf. in our opinion: the infomiation given in the trust685 Report is inconsistent in any material respect with the financial ststements: or the charitable company has not kept adequate accounting records,. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the infomiation and explanations we require for our audit. Responsibilltles of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied Ihat they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial stalements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing. as applicable. matters related to going concern and using the going conc@m basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 20
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RIDE HIGH LIMITED Our responsibilities for the audit of the flnancial statements W8 have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance wilh the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below-. In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or Pressu to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed Iwo fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identrfied any additional fraud risks. Our audit procedures included an evaluation of the design. implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audil procedures. including detailed testing of joumal entries and procedures lo satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the charitable companls accounting policies. Through these procedures. we did not identify any material actual or suspected incidences of fraud. We have evaluated facts and circumstsnces in ord8r to assess laws and regulations relevant to the charitable company. We identified areas of laws and regulations that could reasonably be expected to have a mat8rial effect on the financial statements through discussion with the Trustees (as required by auditing standards) and discussed with the Trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team 8nd remained alert to any indications of non-compliance throughout the audit. The polential effect of these laws and regulations on the financial statements varies considerably. Firstly. the charitable company is subject to laws and regulations that directly affect the financial ststements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on th8 related financial statement items. Secondly, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements for inslance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect. Employment legislation, reflecting the charitable company's workforce Health and safety regulation, reflecting the charitable company's production, distribution and operating processes Data privacy, reflecting the charitable company's management of personal and corporate data Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Trustees and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any rnaterial actual or suspected non-compliance. Page 21
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RIDE HIGH LIMITED We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Trustees are responsible for such int8rnal control as the Trustees of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to 8rrors or fraud. including compliance with laws and regulations. Additionally. owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordan with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regu1alions. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulalions 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companls trustees as a body, for our audit work, for this report, or for the opinions we have fonned. SEJ L-knl Ad Valorem Audit SeNices Limited Chartered Certified Accountants & Slatutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes Buckinghamshire MK12 5NN Dated........ I02S Page 22
RIDE HIGH LIMITED STATEMENT OF CONSOLIDATED FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Unr•stricl8d fund Restri¢t•d fund Total funds Notes INCOME AND ENDOWMENTS FROM Voluntary income 145.272 348.011 493.283 494,803 Other trading activities Investment income Other income 660,973 1,826 9,768 660,973 1,826 9,768 678.976 1,328 2.319 Total 817,839 348,011 1,165,850 1,177,426 EXPENDITURE ON Raising funds 491,733 491,733 426,580 Charitable activltles Charitable activities Support costs 74,077 244,667 279.864 5,799 353,941 250,466 350,599 146,318 Property costs 109.606 109,606 128,298 Total 920,083 285,663 1.205.746 1,051.795 NEf INCOMEI(EXPENDITURE) (102,744) 62.348 (39,896) 125.631 RECONCILIATION OF FUNDS Total funds brought forward 266,033 31,020 297.053 171,422 TOTAL FUNDS CARRIED FORWARD 163.709 93.368 257,157 297,053 The notes form part of these fi'nancial statements Page 23
RIDE HIGH LIMITED CONSOLIDATED BALANCE SHEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Intangible assets Tangible assets 5,000 194.713 6,071 134,491 12 199,713 140,562 CURRENT ASSETS Debtors: amounts falling due within one year 14 Cash at bank and in hand 97,744 241,129 137,981 252.532 338,873 390,513 CREDITORS Amounts falling due within one year 15 (253,488) (200,036) NET CURRENT ASSETS 85.385 190,477 TOTAL ASSETS LESS CURRENT LIABILITIES 285,098 331.039 CREDITORS Amounts falling due after more than one year 16 (27,941) (33,986) NET ASSETS 257.157 297,053 FUNDS Unrestricted funds Restricted funds 19 163.789 93,368 266.033 31,020 TOTAL FUNDS 257.157 297,053 The trustees acknowledge their responsibilities for (a) ensuring that the charilable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 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. (b) These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2025. and were signed on its behalf by: Mr S J Piper- Trustee The notes form part of these financial statements Page 24 continued...
RIDE HIGH LIMITED COMPANY BALANCE SHEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Intangible assets Tangible assets Investments 11 12 13 5,000 95,871 100 6,071 41,021 100 100,971 47,192 CURRENT ASSETS Debtors: amounts falling due within one year 14 Debtors: amounts falling due after more than one year Cash at bank and in hand 193.766 162,450 14 108,092 193,125 208,092 171.641 494,983 542,183 CREDITORS Amounts falling due within one year 15 (250.216) (145.788) NET CURRENT ASSETS 244.767 396,395 TOTAL ASSETS LESS CURRENT LIABILITIES 345,738 443,587 CREDITORS Amounts falling due after more than one year 16 NEf ASSETS 345,738 443,587 FUNDS Unrestricted funds Restricted funds 19 252,370 93.368 412,567 31,020 TOTAL FUNDS 345.738 443,587 The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2025 and were signed on its behalf by: Mr S J Piper- Trustee The notes form part of these financial statements Page 25
RIDE HIGH LIMITED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating actlvltles Cash generated from operations Interest paid Finance costs paid Tax paid 21 41,637 (811) 117,290 (1.142) 1,470 33,176) 33.176 Net cash provided by operating activikn'es 74.002 84,442 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (123,392) 41,922 1,826 (106.206) 30.423 1.328 Net cash used in.investing activities 79.644) 74.455) Cash flows from flnanclng activitles Loan repayments in year 5.761) 57.008) Net cash used in financing activities 57,008) Change in cash and Gash equivalents in the reporting period Cash and cash equivalents at the beginning of tho reporting poriod (11,403) (47.021) 252.532 299,553 Cash and cash equivalents at th• end of the reportlng period 241.129 252,532 The notes form part of these financial statements Page 26
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitsble company, which is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP (FRS 102) 'Accounting and Reporting by Charilies: 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 l January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Acl 2006. The financial statements have been prepared under the historical cost convention. BASIS OF CONSOLIDATION The group accounts consolidale those of the charitable company and its subsidiary. The accounts of each company in the group have been prepared to 31 December 2024. All inter-group transactions are eliminated on consolidation. 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. Ihe receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be rneasured 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 infonnation about their contribution. On receipt. donated prof8ssional services and donat8d 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 covenanl 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 a recognised as expenditure as soon as the is a legal or constructive obligation committing the charily to that expenditure. it is probable that a transfer of economic benefrts 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 cosl 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 a those incurred in seeking voluntary contributions and do not include the costs of dissefflinating information in support of the charitable activities. Support costs are those costs incurred directly in support of expendrture 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. Page 27 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - ¢ontinuod INTANGIBLE ASSETS Amortisation is provided al the following annual rates in order to write off each assel over its estimated useful life. Computer Soare 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. Freehold property Livestock Plant and machinery Fixtures and fittings Motor vehicles Computer equipment 10% on cost 200/0 on cost 250/0 on cosl 20V/o on cost 20 % on cost 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. VOLUNTARY INCOME 2024 Total funds Unrestri¢tsd funds 2023 Re$trl¢tsd funds Total funds Donations Similar incoming resources Grants 77,322 9.171 58.779 77.322 78,177 337,784 83,028 79.688 332.087 69,006 279,005 145.272 348,011 493,283 494.803 Page 28 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER TRADING ACTIVITIES 2024 Total fund$ 2023 Total fund$ Unrestrlcted funds RtrIcted funds Fundraising events Pegasus Lessons 93.952 567,021 93.952 567.021 128.407 550,569 660,973 660.973 678.976 INVESTMENT INCOME 2024 Total funds 2023 Total funds Unrestrictsd funds Rostrfcted funds Deposit account interest 1,826 1.826 1.328 CHARITABLE ACTIVITIES COSTS Support costs {se¢ not• 61 Dlrect Costs Totals Charitable activities Support costs 353,941 353.941 250,466 250.466 353,941 250,466 604,407 SUPPORT COSTS Infonr+ation t•chnology Managemont Financ• Support costs 143,181 53,202 3,514 Human r•sour¢•$ G0ManCe ¢osts Totals Support costs 5,682 44.887 250,466 NET INCOMEI(EXPENDITURE) Net incomel(expenditura) is stated after charging/(crediting): 2024 2023 Depreciation - owned assets Other operating leases Surplusl(deficit) on disposal of fixed assets Computer software amortisation 31,016 63,000 (9,768) 1,071 38,612 69.759 (2,319) 1.054 Page 29 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 AUDITORS. REMUNERATION Included within support costs are Audit fees of £4.500 (2023- £4.500). TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneralion or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. TRUSTEES. EXPENSES There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Other pension costs 735,138 13.263 634,991 18.078 748,401 653,069 The average monthly number of employees during the year was as foll0v.. Staff 2024 26 2023 28 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 was: £90,001- £100,000 2024 2023 11. INTANGIBLE FIXED ASSETS Group and Company Computer software COST At 1 January 2024 and 31 December 2024 7.500 AMORTISATION At 1 January 2024 Charge for year 1,429 1,071 At 31 December 2024 2,500 NEf BOOK VALUE At 31 December 2024 5,000 At 31 December 2023 6.071 Page 30 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 12. TANGIBLE FIXED ASSETS Group Froehold property Plant and machlnery Llvestock COST At 1 January 2024 Additions Disposals 54,264 71.519 69,495 32.250 42.795) 19,933 At 31 December 2024 125,783 58.950 19.933 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal 20,069 6,608 20,349 9.210 7,200 876 At 31 December 2024 26,677 18,918 8,076 NEf BOOK VALUE At 31 December 2024 99.106 40,032 11.857 At 31 December 2023 34.195 49,146 12,733 Fixturo8 and fittings Motor vehicles Computer equlpm•nl Totals COST At 1 January 2024 Addilions Disposals 39,088 19.623 46,935 2,978 232.693 123,392 42,795) At 31 December 2024 58,711 46,935 2,978 313,290 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal 10,819 8,523 36,787 5.799 2,978 98.202 31,016 10.641) At 31 December 2024 19.342 42.586 2.978 118,577 NET BOOK VALUE At 31 December 2024 39.369 4.349 194,713 At 31 December 2023 28.269 10.148 134,491 Page 31 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. TANGIBLE FIXED ASSETS - continued Company Fixtures and fittings Freehold property Ll¥osto¢k COST At 1 January 2024 Additions Disposals 5,000 36.882 71.519 At 31 Dernber 2024 71,519 36,882 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal 250 1.000 10.759 6,120 Al 31 December 2024 NEf BOOK VALUE At 31 Dember 2024 71,519 20,003 At 31 D8mber 2023 4,750 26,123 Motor vehicles Comput•r equipmont Total¥ COST At 1 January 2024 Additions Disposals 46.935 2,977 91,794 71,519 At 31 Dember 2024 46,935 2.977 158.313 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal 36,787 5,799 2.977 50,773 12,919 At 31 December 2024 42,586 2,977 62,442 NET BOOK VALUE At 31 December 2024 4.349 95,871 At 31 December 2023 10.148 41,021 Page 32 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. INVESTMENTS Company Shares in group undertaking MARKET VALUE 100 NET BOOK VALUE At 31 December 2024 100 At 31 December 2023 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: P8gasusforRid8High Limited Registered office.. Ride High Equestrian Centre, Milton Keynes, MK5 8EJ Class of share: Ordinary /0 holdlng 100 2024 2023 Aggregate capital and reserves Profit for the year (88,481) 57,952 (146,433) 125.151 14. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2023 2024 Company 2023 2024 Trade debtors Amounts owed by group undertakings Other debtors Tax Prepayments and accrued income 32,034 43,633 33,449 16,909 118,538 26,356 21,077 93.538 36,061 18,535 33.176 42,637 29,649 24,870 21.479 97,744 137,981 193.766 162,450 Amounts falling due after more than one year.. Other debtors 108,092 208,092 Aggregate amounts 97.744 137,981 301,858 370,542 Other debtors include £108.092 due after more than one year and £100.000 due within one year from PegasusforRideHigh Limited. Page 33 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2023 Company 2023 2024 2024 Bank loans and overdrafts (see note 17) Trade creditors Social security and other taxes VAT Other creditors AcUalS and deferred income 5.794 103,550 13.961 1.914 3.952 124.317 5,510 21,576 14,083 5.853 5,370 147,744 122,870 9,238 1,919 2,319 113.870 28.059 10.225 6.136 4,441 96.927 253,488 200,036 250,216 145.788 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group 2023 2024 Company 2023 2024 Bank loans (see note 17) Other loans 27,941 33,986 27,941 33,986 17. LOANS An analysis of the maturity of loans is given below: Group 2023 2024 Company 2023 2024 Amounts falling due within one year on demand: Bank loans 5,794 5.510 Amounts falling due beeen one and Iwo years: Bank loans 1-2 years 5,940 6,045 Amounts falling due between two and five years: Bank loans 2-5 years 18,739 18,276 Amounts falling due in more than five years: Repayable by instalments: Bank loans more than 5 years 3,262 9,665 Page 34 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. ANALYSIS OF NET ASSETS BEfwEEN FUNDS Group Unrestricted Restrlcted fund fund 2024 Total funds 2023 Total funds Fixed assets Current assets Current liabilities Long temi liabilities 123.845 276,259 (208.374) 27.941) 75.868 62.614 (45.114) 199.713 338.873 (253.488) 27,941) 140,562 390.513 (200,036) 33.986) 163,789 93,368 257,157 297.053 Company Unrestricted Restricted fund fund 2024 Total funds 2023 Total funds Fixed assets Investments Current assets Current liabilities 25.003 100 432,369 205.102) 75,868 100.871 100 494.983 250.216) 47.092 100 542,183 145.788) 62.614 45,114) 252.370 93,368 345,738 443,587 19. MOVEMENT IN FUNDS Group Balance at 1 January 2024 Balance at 31 December 2024 Income Expenditur• Unrestricted funds Restricted funds 266,033 31.020 817,839 348,011 {920,083) 285.663) 163,789 93,368 Total of funds 297.053 1.165,850 1,205,746) 257.157 Company Balance at 1 January 2024 Balance at 31 December 2024 Income Expenditure Unrestricted fvnds Restricted funds 412.567 31.020 314,203 348.011 (474.400) 285,663> 252.370 93,368 Total of funds 443,587 662,214 760,063) 345,738 Page 35 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS - continued Analysls of movement in restrlcted funds Balance at 31 December 2024 Balance at 1 January 2024 Income Expendlture The Mills Equus Trust Referral Income Marshall Trust The Parks Trust D'oyly Charitable Trust Gosling Foundation Sir Peter O'sullevan Trust Hays Travel Foundation Kids Out Masonic Grant National Lottery Grant Hargreaves Foundation Henry Smith Charity Duke of W8Stminster Foundation 20,872 8.743 30.000 67.922 9,578 1,405 5.560 10,000 15,000 3,496 9,600 5,000 122,067 2.883 55,500 10,000 {33,372) (45.375) 17,500 31,290 9,578 1.405 (2,810) (5,560) 10,000 15,000 {3.496) (9.600) (5,000) (122.067) (2,883) (55,500) 10,000 31.020 348,011 285,663) 93,368 Page 36 continued...
RIDE HIGH LIMITED NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS - continued Description. nature and purpose of restricted funds Name of restricted fund Descriptlon, nature and purposes of the fund The Mills Equus Trust To provide funding for the lease obligations at the Ride High Equestrian C8ntre Received from schools to fund the fixed tem group lessons provided to them To repair the roof at Ride High Equestrian Centre To repair the fencing at Ride High Equestrian Centre To provide riding lessons for students To replace the roof at Ride High Equestrian Centre To replace the roof at Ride High Equestrian Centre To provide riding lessons for students To provide riding lessons for students To provide funding for the salary of the Development Manager To provide riding lessons for students To provide riding lessons for students To provide funding for the salary of the Centre Manager To repair the roof at Ride High Equestrian Centre 20. RELATED PARTY DISCLOSURES Referral Income Marshall Trust The Parks Trust D'oyly Charitable Trust Gosling Foundation Sir Peter O'sullevan Trust Hays Travel Foundation lQds Out Masonic Grant National Lottery Grant Hargreaves Foundation Henry Smith Charity Duke of Westminster Foundation There were no related party transactions for the year ended 31 December 2024. Page 37 continued...
RIDE HIGH LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 21. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: DepCiatIon charges (Profrt}Iloss on disposal of fed assets Interest received Interest paid Finance costs Decrease in debtors Increasel(decrease) in creditors (39,896) 125.631 32.087 (9.768) (1.826) 811 39.666 (2,319) <1,328) 1,142 {1,470) 26,954 70,986) 7,061 53.168 Not cash provided by operations 41.637 117,290 22. ANALYSIS OF CHANGES IN NEf FUNDS At 111124 Cash Ilow At 31112124 Net cash Cash at bank and in hand 252,532 11.403) 241,129 252,532 11.403) 241.129 Debt Debts falling due within 1 year Debts falling due after 1 year (5,510) 33,986 (284) 6,045 (5.794) 27,941) 39,496 5.761 33,735 Total 213.036 5,642 207.394 Page 38