For the Year Ended 20 22
& **Consolidated**
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2
Mare and Foal Sanctuary 2022
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## **Contents**
|**Welcome from our Co-Chairs and Chief Executive**
**4**
**Objectives and Activities**
**5**
**Structure, Governance and Management**
**6**
Organisational structure
6
Governance and management
7
Trustees’ indemnity
7
Risk management
7
**Public Beneft**
**8**
Hope
9
Our 30th anniversary
10
**Our values**
**11**
**Our sanctuary for rescued horses**
**12**
The need to provide sanctuary
12
Riley’s story
13
The support we provide
14
Lola’s Story
15
Our impact in 2021-22
16
Our plans for 2023
17|**A safe sanctuary for horse owners**
**18**
Fighting strangles on Dartmoor
19
Our impact in 2021-22
20
Our plans for 2023
21
**A safe sanctuary for children, young people,**
**families and adults**
**22**
Eva’s story
23
Our impact in 2021-22
24
Our plans for 2023
25
**Sanctuary for life, thanks to our supporters**
**26**
Our impact
26
Our supporters
27
Our fundraising practices
27
Pets at Home Foundation
27
**Our devoted staff and volunteers**
**28**
Our volunteers
28
The Education and Equine
Assisted Services team
29|**A sustainable sanctuary**
**30**|
|---|---|---|
|||Our sustainability strategy
30
Ethical buying
31
**Our commitment to equality, diversity & inclusion 31**|
|||**Our Financial Review**
**32**|
|||**Our Reserves Policy**
**35**|
|||**Our Investment Policy**
**35**|
|||**Trustees’ Responsibilities Statement**
**36**|
|||**Independent Auditor’s Report to the Members**
**of The Mare and Foal Sanctuary**
**37**|
||||
3 **Mare and Foal Sanctuary** 2022
## **Welcome from our Co-Chairs and Chief Executive**
**The Mare and Foal Sanctuary continued to make progress in this financial year despite another period of social, political and economic uncertainty. As Covid restrictions eased, like every charity, we faced new financial challenges from the cost-of-living crisis and other world events which meant an increase in operating costs in some areas of our work and a slight reduction in some of the charitable donations on which we rely. We were, however, able to move forward with our plans for our core activities whilst adapting to the social and economic landscape.**
**2022 marked our 30th year as a charity. Sadly, it was also the year our founder, Rosemary Kind, passed away. Her vision that the smallest, weakest, injured or most unwanted horses and ponies had care and a home for life continues to shape our work. We are proud of the impact that we have made over the last 30 years and excited about what we will be able to achieve during the next 30 years.**
**A great deal of hard work has been carried out to ensure we maintain our financial stability and grow our reach and impact to further improve welfare outcomes for horses and ponies through**
## **Key achievements included:**
- **622 equines were in our permanent care at the end of the reporting period in December 2022. We had 175 equines in sanctuary care and 447 equines were in our rehoming scheme thanks to 381 Sanctuary at Home carers.**
- **In addition to our outreach visits, we were also involved with 15 multiagency welfare lifts in 2022 supporting 177 equines.**
- **71 people received advice through our helpline service in 2022. This supported 83 equines.**
- **In 2022 30 equines came into the sanctuary on a permanent basis. This meant a total 67% of these new admissions were due to changes in owner circumstances, owner ill health or changes to owner finances.**
- **124 people attended one-to-one equine assisted learning, equine assisted wellbeing and equine assisted activity sessions with our rescued horses and ponies.**
- **398 sessions were delivered by our qualified equine assisted learning facilitators totalling 1,236 hours.**
- **194 outreach visits were carried out in 2022 supporting 568 equines.**
- **52 equines in our care were rehomed through our Sanctuary at Home scheme in 2022. However, 40 equines were returned to us from loan in 2022.**
**our welfare outreach and sanctuary care activities. We are also improving outcomes for people of all ages through our Equine Assisted Services.**
**The clarity of our vision for our core charitable activities is at the heart of this stability. We are, as ever, grateful to all our supporters, volunteers and staff who have made our achievements possible and whose dedication to the cause allows us to continue our vital work.**
## **Sarah Jane Williamson**
Chief Executive
**Helena Vega-Lozano Sue Cockayne**
Co-Chairs of Trustees
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ponies.
OBJECTS
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## **Objectives and Activities**
## **Our charitable objects**
• To rescue and provide care for, and prevent cruelty and suffering amongst, horses and ponies that are in need of attention by reason of sickness, maltreatment or ill-usage, or other like causes, and to provide temporary or permanent homes for such horses or ponies.
**The Mare and Foal Sanctuary rescues horses and ponies that have been abandoned, neglected or abused. We also ensure that horses and ponies have a sanctuary for life.**
- To advance the education of the public in matters relating to the welfare of horses and ponies and the prevention of cruelty and suffering amongst horses and ponies.
Most horses and ponies are given care for life through our network of knowledgeable carers. Those horses and ponies with more complex needs are cared for in our peaceful sanctuaries. Our charity was founded on the principles that horses and ponies, as sentient beings and close companions of humans over the centuries, have a value and a purpose. They deserve our kindness and care. Our equine-centred approach to human-equine interaction through Equine Assisted Services enables us to create a sense of sanctuary for people within our sanctuary for horses and ponies.
• To relieve those children, young people and adults in need (in particular, but not limited to, those with physical, mental, social or emotional difficulties or disadvantages) by providing equineassisted learning and therapeutic activities, in order to enhance their education and make their lives better through (but not limited to) appropriate provision of facilities for riding, handling or coming into contact with horses and ponies.
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**Mare and Foal Sanctuary** 2022
**Objectives and Activities** 2022
## **Structure, Governance and Management**
## **Governance and management**
occurring whilst on charity business. The insurance provides cover up to £1,000,000 on any one claim.
Finance, Investment and Audit Committee, People and Culture Committee and Fundraising and Engagement Committee.
The trustees meet at least bi-monthly and are in close contact with the senior management team. They receive regular updates and are able to respond accordingly. These updates include:
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teams to develop educational resources and events
which improve general knowledge in equine care
amongst the public and prevent future welfare cases.
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## **Legal status**
## **Risk management**
No major decisions or expenditure can be made without consultation with and approval of the trustees.
The Mare and Foal Sanctuary is a registered charity (number 1141831) and a company limited by guarantee (number 7584914).
- Delivery plan performance reports with KPIs and benchmarking data
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate our exposure to the major risks.
Day-to-day management is delegated to the Chief Executive who reports to the Board of Trustees bi-monthly at meetings and at other times as required. There is regular, collaborative contact with the Co-Chairs of the Board of Trustees.
## **Policies adopted for the recruitment,**
- Risk register reports and focused reviews of specific areas of risk
## **induction and training of trustees**
The existing trustees have the power to appoint new trustees. All new trustees are provided with Charity Commission published guidance on the responsibilities of being a trustee and a trustee job description. They are introduced to the charity and its aims by receiving a tour of the site and meeting management, staff and current trustees. Training in the work of trustees is also made available before appointment and through a trustee induction plan once appointed. There is an active programme of governance development for trustees.
- Annual updates on policies and performance in relation to GDPR, health and safety and safeguarding
We have developed a risk management framwework which identifies and manages all significant strategic and operational risk. A corporate risk register has been approved by trustees. Specific risks are managed by the relevant committees with strategic risks managed by the board as a whole.
- Management accounts with budget variance reports and balance sheets
## **Trustees’ indemnity**
- The Chief Executive’s update of all key service areas and developments
In accordance with normal commercial practice the charity has purchased insurance to protect trustees from claims arising from negligent acts, errors or omissions
The board delegates specific responsibilities and activities to the four committees of the board: Equine Committee,
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Structure, Governance and Management 2022
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## **Hope’s story**
## **Public Benefit**
**The Mare and Foal Sanctuary’s vision is a world where we all understand and appreciate the connection between horses, ponies, people and nature. Our ambition is to lead the equine community in new thinking and better practice.**
The trustees confirm that The Mare and Foal Sanctuary’s aims and objectives align with the Charity Commission’s guidance on public benefit. The trustees regularly review these aims and objectives for both current and future activities to ensure our public benefit can be demonstrated through charitable purposes defined by The Charities Act 2011 **.**
**Hope was rescued alongside four other horses in August 2021. Her owners were suffering with their own health issues and this quickly led to unintentional neglect.**
Together, we were able to offer a solution and bring the horses into the care of the sanctuary. We provide no-shame advice and will support people to find the right care for their horses whatever their circumstances.
On arrival it was clear to see that the horses had chronic health issues including laminitis and painful skin conditions. All four of Hope’s hooves were misshapen and overgrown altering the way she walked and causing considerable pain.
Hope has recieved remedial farriery work and is recovering well. She currently lives at our Upcott Park sanctuary where she is receiving further training and we hope to loan her out to a loving family through our rehoming scheme in the future.
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**Mare and Foal SanctuaryPublic Benefit** 20222022
## **Our 30th Anniversary**
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Our Values
We are the place for people who want to make a advice, support and welfare education through
difference to the lives of foals, horses and ponies. programmed activities and by phone and email.
We’re unlocking
Our values of kindness, care and knowledge We aim to educate the general public, as well
a world of natural,
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## **Riley’s story**
**Riley was severely underweight and living in unsuitable conditions when our Welfare Advisor, Leah, was first called out to help. She worked with key stakeholders to ensure a positive welfare outcome for Riley.**
## **We work for all horses and ponies, but we have particular experience in:**
- **Managing and training** feral, semi-feral or unhandled horses and ponies
- **Coping with horses and ponies** that others cannot deal with in terms of behaviour. We give them specialist recovery care and train them so that they’re suitable for loan homes in the future
- **Care of mares in foal** and orphaned or abandoned foals
- **Creating a value** for smaller, weaker, previously injured or older equines through appropriate recovery and training as companions or suitable for active life in agility, lead rein and ridden activities
- **Picking up the pieces** when inexperienced people have inadvertently got into problems having bought ponies thinking that they are easy to care for because they are small. This can be the case when ponies are kept by inexperienced owners privately at home as opposed to at a managed livery yard, where excellent help and advice is usually available
For many equines we are the end of the line. We are the last option.
Ultimately, we agreed to make room at our sanctuary and take her in permanently. Riley was too weak to travel. To avoid a long journey, Riley was moved quickly to a nearby RSPCA holding centre. Here she was treated by a vet for cellulitis (a deep infection under the skin), colic symptoms and given a course of antibiotics. A few weeks later, Riley was strong enough to travel to our sanctuary. She settled in quickly and has now benefitted from our specialist care. Her recovery has been slow, but her future is now looking much more positive.
**Mare and Foal Sanctuary** 2022
## **Lola’s story**
## **The support we provide**
**Care for life is provided to hundreds of horses and ponies rescued by The Mare and Foal Sanctuary.**
We currently have five peaceful sanctuaries in Devon and it is here that our dedicated staff provide expert and specialist care for life to around 170 of these horses and ponies whose needs mean that they cannot easily be cared for elsewhere.
Our network of knowledgeable Sanctuary at Home carers helps us care for more than 440 horses and ponies. This vital scheme enables space to be created at our sanctuaries for more horses and ponies in need, helps sustain our work to rescue other horses and ponies and enables us to connect more people together who love and value horses and ponies as much as we do.
**Mare and Foal SanctuaryMare and Foal Sanctuary** 20222021
**Mare and Foal SanctuaryThe Support We Provide 2022**
## **Our plans for 2023**
## **Highlights of our work to provide sanctuary to rescued horses and ponies in this period:**
**In 2022 30 equines came into the sanctuary on a permanent basis. 67% of these new admissions were due to changes in owner circumstances, owner** 30 **ill health or changes to owner finances. 622 equines were in our permanent care at** 622 **the end of the reporting period in December 2022. We had 175 equines in sanctuary care and 447 equines were in our rehoming scheme thanks to 381 Sanctuary at Home carers. 52 equines in our care were rehomed through our Sanctuary at Home scheme in 2022. However, 40 equines were returned to us from loan in 2022. 55% of returns were due to a change in personal circumstances or carer ill health. We know that many people choose to rehome from us because our sanctuary for life policy gives them peace of mind should their circumstances change.**
**A new targeted worming protocol was** targeted **introduced and completed for all eligible horses for the first time.**
**At the end of 2022 our all-time equine admissions stood at 1068.**
**Highlights of our planned work to provide sanctuary to rescued horses and ponies next year:** 1 **provide a more natural environment for our equines. We will have new and updated training resources and frameworks for Sanctuary Care staff in delivery by the** 2 **summer. We plan to develop two additional equine behaviour training sessions to be delivered to staff.** 3 **We are excited that work has begun on the new Rosemary Kind High Intensity Welfare Unit at Coombe Park. We are looking forward to staff and ponies being in sanctuary** 4
**We will continue to review the number and location of horses and use of fields across sites to progress the move to holistic, sustainable grazing. The holistic grazing project will be a major change in how we manage our grazing across all our sites for the coming 30 years in response to the impact of extreme weather and also the desire to provide a more natural environment for our equines.**
**We will have new and updated training resources and frameworks for Sanctuary Care staff in delivery by the summer.**
**We plan to develop two additional equine behaviour training sessions to be delivered to staff.**
**We are excited that work has begun on the new Rosemary Kind High Intensity Welfare Unit at Coombe Park. We are looking forward to staff and ponies being in sanctuary care at the site by the end of the summer.**
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## **A safe sanctuary for horse owners**
**We give non-judgemental advice and noshame support to any horse or pony carer through our Welfare Outreach and Advice team, but we are also able to step in and make a formal welfare intervention when necessary, collaborating with the RSPCA.**
We know that there is not one right way of caring for equines, but we do have expert understanding of the physical, psychological and social needs of horses and ponies. We can educate people in meeting these in ways that are based on current veterinary and equine science, including behavioural science.
## **Fighting strangles on Dartmoor**
**Our work on Dartmoor in collaboration with Dartmoor Pony Heritage Trust, Dartmoor Livestock Protection Society and Redwings continued over the autumn and early winter of 2022. The work, which has been happening since 2021, is the largest operation of its kind and aims to curb the deadly disease from spreading on the moors.**
Over the autumn we took in two very sick foals as part of this operation. Both had tested positive for strangles. One was very young and had recently lost its dam. The second foal had open sores caused by the infection. We were able to treat and nurse them in secure isolation at our Beech Trees Veterinary and Welfare Assessment Centre. Thankfully, both foals made a full recovery and were returned to their herd.
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To lead the
equine community
in new thinking and
better practice
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**Mare and Foal SanctuaryMare and Foal Sanctuary** 20222021
**A safe sanctuary for horse owneMare and Foal Sanctuarys 2022**
**Highlights of our work to offer safe sanctuary for horse owners in this period:**
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## outreach
**We supported horse and pony owners struggling with the cost-of-living crisis with a webinar led by Welfare Outreach and Advice Manager, Rebecca Sherrell and vet, Richard Frost.**
**194 outreach visits were carried out in 2022 supporting 568 equines. 66% of these equines were considered at severe or moderate risk.**
**In addition to our outreach visits, we were also involved with 15 multiagency welfare lifts in 2022 supporting 177 equines. 71 people received advice through our helpline service in 2022.** 71 **This supported 83 equines.**
**We became members of the Helplines Partnership - the accreditation and membership body for organisations that provide information, support or advice via phone, email, text or online.**
**We provided training for equine professionals working for The Brooke on managing needle shyness. This training has been used in Pakistan, UK, India, Senegal, Ethiopia and Nepal.**
**We became an approved boarding** RSPCA **establishment for the RSPCA.**
**Our work around strangles on Dartmoor continued over the autumn and early winter of 2022 in collaboration with Dartmoor Pony Heritage Trust, Dartmoor Livestock Protection Society and Redwings. This was the largest strangles treatment operation on Dartmoor in 2022 and this important collaboration contributes to the understanding of how semi-feral ponies who live in open moorland can be treated for and recover from the disease.**
BEVA **We hosted a webinar with British Equine Veterinary Association President, David Rendle, on the topic of anthelmintic resistance.**
## **Our plans for 2023**
**Highlights of our planned work to offer a safe sanctuary for horse owners next year:**
1 2 3 4 5
**Continue to move to preventing more welfare issues by ensuring we get to people, horses and ponies in need of support sooner through welfare outreach before the issue becomes a crisis.**
**We hope to collaborate with a laboratory to produce discounted faecal worm egg counts for our Sanctuary at Home carers.**
**We have a planned collaboration with the British Equine Veterinary Association (BEVA) and Dartmoor Pony Heritage Trust to run a field castration clinic and training day.**
**We aim to work in collaboration with British Animal Rescue and Trauma Cause Association (BARTA) to offer training to emergency services.**
**We will develop talks about welfare outreach work to be delivered by the Welfare Outreach and Advice team to riding clubs, schools, colleges and organisations to increase our reach.**
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## **Eva’s story**
**A safe sanctuary for children, young people, families and adults**
**22**
**Mare and Foal Sanctuary 2022**
## **Our impact in 2021-22**
**Highlights of our work to provide safe sanctuary for children, young people, families and adults in this period:**
**398 sessions were delivered by our qualified equine** 1236 **assisted learning facilitators totalling 1236 hours.**
**Our Equine Assisted Services were approved to be included in the UK Human Equine Interaction Register** 124 **124 people attended one-to-one (HEIR) which is a pilot equine assisted learning, equine project of HETI, the assisted wellbeing and equine Federation of Horses in assisted activity sessions with Education and Therapy our rescued horses and ponies. International AISBL.**
UK HETI 36 **We were funded by Sport We completed the delivery England to deliver the of the Frontline Worker This Girl Can Exercise with Wellbeing Project Pilot Equines programme for up delivered by some of the UK to 36 women and girls. HETI (Federation of Horses in** It encouraged physical activity **Education and Therapy** among the participants **International AISBL) members.**
It encouraged physical activity among the participants through spending time outdoors learning the basics of horse care and actively working with our rescued horses and ponies.
This project was both internally and independently evaluated to demonstrate its positive impact on improving
the wellbeing of frontline staff who
**12 members of staff qualified as equine assisted learning facilitators after achieving a Level 6 regulated qualification in Equine Facilitated Learning to complement their existing professional qualifications.**
had been adversely affected by the Covid pandemic **.**
**A Safe Sanctuary for Children, Young People, Families and Adults** 2022
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**Brenda and John’s devotion**
## **Sanctuary for life, thanks to our supporters**
**We rely entirely on donations and legacy gifts to carry out our work and we are indebted to individuals, organisations and companies for helping to sustain our ability to deliver our charitable activities.**
**Along with an exceptional year of income from legacy gifts, we had a number of significant grants from trusts and foundations who were able to support us.**
We had several key grants and donations from individuals for the new Rosemary Kind High Intensity Welfare Unit for our rescued horses and ponies with ongoing health care needs.
The grants were:
- **£90,000 from The Pets at Home Foundation**
- **£50,000 each from The Ivo Trust and Mandy Thornton Memorial Trust**
- **£7,000 from SEIB Giving**
- **£5,000 each from Mrs D M FranceHayhurst Foundation and Petplan Charitable Trust**
- **£700 from the Robertson-Ness Trust**
We also received the following grants towards key charitable activities including Sanctuary Care and delivering Equine Assisted Services to people in our community:
- Ashfield Trust
- Betty Phillips Charitable Trust
- Dumbreck Charity
- Northbrook Community Trust
- Petroc Community Grants
- Rose Animal Welfare Trust
- Sir John Sumners’s Trust
- The Barry Green Memorial Fund
- The Britwell Trust
- The Diana Edgson Wright Charitable Trust
- The EMS Charitable Trust
- Zedra Kerronan Trust
Within the community, we were grateful to receive £750 from Waitrose in Holsworthy, Devon through their Give a Little Love scheme. We were able to attend regional shows for the first time since the pandemic. At Devon County Show and Royal Cornwall Show, we engaged with hundreds of people interested in our work and discussed rehoming with a number of potential Sanctuary at Home carers.
We continued to communicate with our wonderfully loyal supporter base through our regular newsletters and fundraising appeals. This included a summer letter to celebrate it being 30 years since The Mare and Foal Sanctuary became a charity with a dedication to our founder, Rosemary Kind. We also put on a number of open days during the year giving our supporters and new audiences the opportunity to connect with our rescued horses and ponies.
We introduced a new line of products to help raise money for our rescued horses and ponies – from Christmas cards to puzzles. Where possible, our products are made in the UK, are plastic-free and can be recycled at the end of their lives.
## **Our fundraising practices**
**The majority of fundraising income is generated from donations and legacy gifts from individuals.**
Our direct marketing includes sending fundraising appeals, informative newsletters and an annual calendar. This work is led and undertaken by our Fundraising team. The production and fulfilment of these mailings is supported by a contracted third party, with whom we manage and regularly monitor the work undertaken.
Each mailing enables us to demonstrate our charitable activities and provides a response mechanism for our supporters, including options to donate and update their communication preferences, containing clear instructions on how to be removed from our mailing lists.
In 2022, we reviewed our Legitimate Interest Assessment Policy to ensure we appropriately contact donors for fundraising and communications purposes.
Dedicated to building and supporting long-term
Each year, we also undertake an annual survey to obtain our supporters’ feedback on the frequency of communications and ensure that we are meeting their expectations. In 2022, our survey revealed 94% of our supporters felt the sanctuary’s contact throughout the year was ‘about right’ and 80% of responders said they ‘definitely’ will continue supporting us into the next year.
Our Fundraising team also engages in digital activities including sending news updates and fundraising appeals by email where donors have opted in. We engage with supporters through open day events, a virtual adoption scheme and in the community. Funds are also secured through grant funding from trusts and foundations.
In December 2021, we introduced a new online weekly lottery. We operate in compliance with the Gambling Commission’s (the UK regulatory body concerned with lotteries) requirements. The lottery is administered by a certified External Lottery Manager. Responsible gambling is a term that means staying in control of how much time and money is spent on a gambling related activity. This was central to us when we considered how to create and responsibly promote this fundraising opportunity.
We are committed to delivering the best level of service at all times to everyone who engages with our charity including beneficiaries, supporters and the community.
There have been seven complaints about fundraising activities during this reporting period. We have a Complaints Policy and procedure in place and a designated Complaints Coordinator. All staff working in fundraising have received training. In the event of a complaint, it is our promise to:
- provide a responsive and timely service to the complainant
- treat all complaints seriously and investigate them thoroughly
- be open and honest in our dealings with the complainant
- learn from complaints and take action to improve our service
The Mare and Foal Sanctuary is registered with the Fundraising Regulator and abides by the Code of Fundraising Practice. We have developed our own compliance framework in 2022 to ensure our fundraising guidance and working practices are routinely reviewed and updated.
Our Fundraising staff maintain an awareness and understanding of the code and hold membership with the Chartered Institute of Fundraising.
- resolve complaints promptly
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**Mare and Foal Sanctuary** 2022
**Sanctuary for Life** 2022
## **Our devoted staff and volunteers**
**At the end of 2022 we had 129 employees working at The Mare and Foal Sanctuary. Our staff and volunteers are knowledgeable, dedicated and hard working. Without their commitment and expertise, we would not have been able to move forward.**
current cost-of-living crisis this was a predictable response prior to the pay review in April 2023. We have supported our staff with the cost-of-living crisis ensuring they have access to relevant help as required.
We commissioned a specialist HR consultancy, Reward Connected, to carry out independent job evaluations and salary benchmarking for all staff roles. This allowed us to revise our existing salary scales to reflect the recommendations given. Absence analysis of 2022 was completed and communicated. Training was then delivered to Sanctuary Care Managers and Team Leaders on conducting effective return to work interviews. A more robust rolling induction process for all new starters was introduced in April. We also began
Our annual staff survey allows us to monitor and evaluate how we can support and develop our workforce. 60% of employees completed the survey in December 2022. The survey showed a significant improvement since the last time it was carried out in January 2022. We are very pleased with this result, but we know we still have more work to do and have a clear plan to help us achieve this. The only response in the survey to show a decline in staff satisfaction was the pay-related question. Given the
## **Our volunteers**
both women wanted to continue to support the sanctuary and became horse care volunteers at our Coombe Park sanctuary. Eva has even stepped in to support the Education and Equine Assisted Services team when they have needed extra help.
Our volunteers are a vital part of achieving our goals as a charity. They help us in so many ways from horse care to raising money. Our volunteers contributed an astounding 15,989 hours between 1 November 2021 to December 2022. Here are just a few of the ways our volunteers have worked with us:
• Helen volunteered at our Upcott Park sanctuary. After seven months she joined the team as a member of staff.
• David, Tony and Graham are our warehouse brica-brac team. They frequently find special items that we are then able to sell on eBay. In 2022 Graham identified a set of plates that sold for £72 and Tony found an Emma Bridgewater pot which went to America for over £50.
• James and his guide dog Spirit came to us because James was struggling to find paid work as employers couldn’t accommodate Spirit. James started volunteering with us on our eBay shop. Through this work James rebuilt his confidence and has now found employment with an accountancy firm.
• Our volunteer Ann is part of the horse care team at Yelverton. She has regularly stepped in to help cover staff sickness, even giving up a whole weekend to volunteer.
- Emma and Eva took part in our This Girl Can Exercise with Equines programme funded by Sport England. After finishing the programme
development of our new e-learning platform.
Annual appraisals are completed for all staff. We also run a staff-led awards scheme to recognise those who demonstrate our values of kindness, care and knowledge in their daily work.
## **Training our staff as equine assisted learning facilitators**
**In 2022 12 members of staff qualified as equine assisted learning facilitators after achieving a Level 6 qualification in Equine Facilitated Learning to complement their existing professional qualifications as educators and equine specialists.**
**In 2022 12 members of staff qualified as equine assisted learning facilitators**
We are geographically located very near to areas with significant economic deprivation where around a third of children live in poverty. By expanding our Equine Assisted Services provision, more people from these areas will be able to benefit from potentially lifechanging experiences through interacting with horses and ponies. This training was also a key investment in our staff, ensuring that they were able to develop and expand their professional practice.
Although only 12 staff members were directly involved, the
effects of both the training and the expanded capacity has been felt throughout the sanctuary. From summer 2022 the induction for new staff started to include an equine assisted learning session, with existing staff also being invited to attend sessions.
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**Our Devoted Staff and Volunteers** 2022
**Mare and Foal Sanctuary** 2022
## **A sustainable sanctuary**
We’re beginning to experiment with allowing our hedges to grow higher to provide natural shelter for horses, returning our grazing to traditional hay meadows, which are grazed for part of the year, and which will continue to give us our own hay crop whilst promoting biodiversity and habitat restoration. We are looking at how we can adopt more holistic approaches to grazing and land management by exploring track systems, field rotation and hedgerow management. There are also
**We’re developing a 25-year rolling sustainability plan for exemplary equine welfare and site management which promotes nature conservation and preserves resources.**
plans for new planting schemes to include a mix of grass species in the fields that help with ground conditions and weed control as well as a herbal mix to some areas to help with the equine health. We are considering how we can move to sustainable energy sources. We will also be reviewing our approach to the types of vehicles we use for welfare activities. Plans have been drawn up to create a ‘Green Team’ to champion sustainability throughout the charity.
## **Ethical buying**
We are dedicated to developing deeper knowledge and better practice in all of the work we do. This includes our online shop and gift catalogue. We are committed to finding sustainable products to create a better future for equines, people, and the planet. Our products are reusable, meaning you can use and enjoy them again and again. Where possible, our products are plastic–free, made from organic or recycled materials and can be recycled at the end of their lives, meaning less waste to landfill. We try throughout the supply chain to reduce waste, minimising the use of single-use plastics. All products sent by mail use cardboard and paper packing materials, all of which can be reused or recycled. Where possible, our products are made in the UK to reduce their carbon footprint.
Prior to purchase, a product and its associated supplier must be ranked in accordance with the product purchasing framework and achieve a score of at least 75% to be considered a viable option. This score is conditional on fully satisfying the following conditions: sustainably made, ethically produced, traceable through the supply chain, champion of the sanctuary and equines, be fit for purpose, fairly priced, high quality and give a reasonable profit margin.
## **Our commitment to equity, diversity and inclusion**
## **We have identified the need to develop an Equality, Diversity and Inclusion Policy and Action Plan.**
The trustees recognise that the board is more effective if it includes a variety of perspectives, experiences and skills. We also recognise that often people from groups which identify with the protected characteristics of the Equalities Act 2010, as well as people from lower socio-economic backgrounds, are those who also have had less access historically to involvement with horses and ponies, outdoor learning and nature-based activities. The Mare and Foal Sanctuary is ideally located to offer opportunities for people from the Torbay and Plymouth coastal conurbations, which have higher levels of economic deprivation, to access horses, ponies and nature-based activities.
30
**Our Commitment** 2021
## **Our Financial Review**
## **The Mare and Foal Sanctuary:**
## **A note on our reporting period**
**In 2022 the Board of Trustees made the decision to change our reporting period and operational year to align with the calendar year. As a result, this report covers the period 1 November 2021 until 31 December 2022.**
## **Our retail and education activities have fully**
## **The surplus for the year was £310,507 (2021**
**resumed,** as well as welcoming visitors to our open days on all sites, and business is gradually recovering. This has led to a substantial increase in our trading income as well as a substantial increase in expenditure.
**surplus £1,881,165).** The reduction in surplus was caused by the increased expenditure arising from resumption of more normal levels of activity, and the one-off effect of losses in value of investments, which reflects changes in the wider investment marketplace in 2022.
## **Total expenditure of £6,178,658 (2021**
**£4,905,880) was incurred during the year.** One unusual feature of the year was the change in the value of our investments, which reflects the falls in value of the wider investment marketplace.
## **Donations and gifts of £2,194,572 (2021**
**£2,118,896) were received in the year.** The charity is heavily reliant upon donations from its supporters. This pays for the day-to-day shelter and food for the equines in our care and other charitable expenditure.
**The notional loss for the year of £406,462 compares to a notional profit in the previous year of £339,274,** with the difference being a major contributor to the reduction in surplus from year to year. This is an example of the fluctuation in value that can arise in the shortterm on investments rather than any longerterm loss of value.
**We also received £3,605,861 (2021 £3,316,621) of legacies during the year which makes a huge difference.** Over recent years, it has been this legacy and regular donation income that has allowed the charity to increase its capacity and diversify its use of the sites it owns. We are extremely grateful to all of our loyal supporters who share our values and goals.
**We regularly review our expenditure to ensure we get the best value possible.** Our Finance, Investment and Audit Committee continued to meet regularly throughout the year with close monitoring of both income and expenditure being undertaken.
## **Income 2022**
**----- Start of picture text -----**
Charitable Trading
Other
activities activities
1%
1% 12%
Investment
income
2%
Legacies
52%
Donations and
gifts
32%
**----- End of picture text -----**
## **Expenditure 2022**
**----- Start of picture text -----**
Raising funds
31%
Charitable
activities
69%
**----- End of picture text -----**
**Statement of Finacial Activities (Incorporating Income & Expenditure Account)**
## **Year Ended 31 December 22**
|**Income**
Legacies
Donations and gifts
Investment Income
Charitable activities
Trading activities
Other
**Expenditure**
Charitable activities
Raising Funds|**2022**
**14 months**
**2021**
**12 months**
3,605,861
3,316,621
2,194,572
2,118,896
124,813
64,039
54,441
25,820
836,315
392,750
75,493
199,987
6,891,495
6,118,113
**2022**
**2021**
4,283,920
3,599,611
1,894,738
1,306,269
6,178,658
4,905,880
**Income**
**Note**
Donations and Legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
**Total**
**Expenditure**
Raising funds
7
Charitable activities
8
**Total**
Net gains/(losses) on investments
Proft on disposal of fxed assets
Net movement in funds
**Total funds at 1 November 2021**
**Total funds at 31 December 2022**|**2022**
**14 months**
**2021**
**12 months**
5,875,926
5,635,504
54,441
25,820
836,315
392,750
124,813
64,039|
|---|---|---|
|||**6,891,495**
**6,118,113**|
|||1,894,738
1,306,269
4,283,920
3,599,611|
|||**6,178,658**
**4,905,880**|
|||(406,462)
339,274
4,132
329,658
310,507
1,881,165|
|||**14,430,515**
**12,549,350**|
||||
|||**14,741,022**
**14,430,515**|
_The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies._
32
**Mare and Foal Sanctuary** 2021
**Mare and Foal Sanctuary** 2022
**Our Investment Policy**
## **Risks and Uncertainties**
## **Specific Key risks:**
**Fall in donor income and retained reserves** – Economic conditions and increased competition for donations and voluntary support will potentially reduce income below the levels required to continue to provide our core services. We are developing our income diversification including digital income streams and online engagement and we have produced plans for how the charity could operate in different income scenarios.
**Loss of key staff** – We experienced high levels of staff turnover, combined with a challenging recruitment environment. We have invested in our recruitment and retention activity including a salary review, improved performance management processes and reviews of satisfaction through our staff survey. We are also reviewing development pathways at all levels of the organisation.
## **Fraud committed against our charity, putting at**
**risk our money, people, reputation, and data** – There is an ever-present risk of fraud, to which has been added in recent years the growth of cyberfraud. We have strengthened our internal controls to counter new types of fraud which have emerged and are investing in staff training and awareness especially of fraud in our digital activities.
**Maintenance of site infrastructure** – High turnover of staff in our estates team and the lack of available external building contractors has resulted in slippage in our site maintenance which could over time lead to a fall in value of property and health and safety issues. We are recruiting to strengthen the estates team and are undertaking robust planning processes to ensure the backlog is cleared promptly.
## **Our Reserves Policy**
**The trustees consider the need to deliver**
**our core services and to hold sufficient reserves to ensure sustainability in the light of uncertain and fluctuating income streams and cashflows.**
## **The trustees have the power to administer**
**and manage the assets of the charity.** They have delegated the preparation of advice on the invested parts of these assets to an investment subcommittee comprising of two trustees, the Director of Finance and the Chief Executive.
## **It is the policy of the charity to maintain**
**unrestricted funds** , which are the free reserves of the charity, at a level which equates to approximately 18 months budgeted expenditure (excluding retail expenditure) this being around £6,500,000. This is an increase from the previous policy of holding nine months, which better reflects the long-term nature of equine sanctuary. In arriving at the “free reserves” amount the designated development fund and the designated property fund are not classified as free reserves. These funds are linked to the charity’s fixed assets at the start of the year and capital programme for the year and the realisation of these funds would require disposal of property, land and other assets which would be time consuming.
## **The trustees believe that this will provide**
**sufficient free reserves** to cover any unforeseen circumstances that may arise and the charity has retained £6,565,827 at 31 December 2022.
## **The designated property fund for the group**
**ended the year with a balance of £6,448,933.** This reserve reflects the funds tied up in capital investments in farms and associated equipment.
## **The designated charity development fund**
**has increased to £1,548,677.** This reflects
the sanctuary’s plan for future growth and the support required to facilitate this development within the organisation.
## **The sanctuary appointed Rathbones** to act on
their behalf to professionally manage allocated funds on a discretionary basis and have entered into a formal written agreement with them. The sum invested with Rathbones has increased and now stands at around £4 million.
**The charity has highlighted** to its fund manager that investment decisions must be made with an awareness of the charity’s sensitivity to animal testing and animal-related issues which may cause pain or suffering.
**The fund manager** meets at least yearly with the charity’s Finance, Investment and Audit Committee, when the amount invested and the stated investment objective will be reviewed.
**The investment objective** is to reduce the level of finance investments in the period of our corporate strategy 2019-2023. In the meantime, we seek to preserve the invested sum through a balanced and diversified investment portfolio adopting a medium/low risk approach.
## **We are developing a programme related**
**investment approach.** As we transition between the approaches the amount invested in this portfolio as a percentage of total available funds should not be limited but will be kept under review.
34
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**Independent Auditor’s Report to the Members of The Mare and Foal Sanctuary**
**----- Start of picture text -----**
Trustees’ Responsibilities Statement
**----- End of picture text -----**
## **Independent Auditor’s Report to the Members of The Mare and Foal Sanctuary**
## **The Trustees 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).**
## **The law applicable to charities in England &**
- **Wales** 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
## **The Trustees are responsible for keeping**
**accounting records** that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **The Trustees are responsible for the**
**maintenance and integrity of the charity** and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
- This report was approved by the Trustees on 25/04/2023 and signed on their behalf by:
## **Helena Vega-Lozano**
Co-Chair of Trustees
**Sue Cockayne** Co-Chair of Trustees
## **The Mare and Foal Santuary is a registered charity and company limited by guarantee and does not have any share capital.**
The Trustees of the charity who served during this year were:
## Sue Cockayne Co-Chair
Helena Vega-Lozano Co-Chair _(Appointed 07 June 2022)_ Elizabeth Gaffer _(Resigned 26 April 2022)_ Donna Hallett Robert Lovell _(Resigned 26 April 2022)_ Yvette Bacon Lisa Compton _(Resigned 26 May 2022)_ Rebecca- Rafiyah Findlay _(Appointed 07 June 2022)_ Emma Dunford _(Appointed 07 June 2022)_ Jane Williams _(Appointed 07 June 2022)_ Jacqueline Watton _(Appointed 07 June 2022)_
## **Principal and Registered Office:**
Honeysuckle Farm, Haccombe with Combe Newton Abbot, Devon TQ12 4SA
Registered Charity No. 1141831 Registered Company No. 07584914
## **Bankers:**
NatWest Bank plc, 48 Courtenay Street, Newton Abbot TQ12 2EE
## **Auditors:**
PKF Francis Clark, Sigma House, Oak View Close, Edginswell Park, Torquay TQ2 7FF
## **Solicitors:**
Boyce Hatton, Torquay TQ1 1DE WBW, Newton Abbot TQ12 2QP
**Investment Manager:** Rathbone Brothers Plc, Southernhay Gardens Exeter EX1 1UG
## **Opinion**
We have audited the financial statements of The Mare and Foal Sanctuary (the ‘Charity’) for the period ended 31 December 2022, which comprise the Statement of Financial Activities incorporating Income and Expenditure Account, Balance Sheet, Statement of Cash Flows and Notes to the 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 including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:
- give a true and fair view of the state of affairs of the Charity as at 31 December 2022 and of the Charity’s results for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical 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 going concern. In auditing the financial statements, we have concluded that the Trustees use of the going concern 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 company ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken during the audit:
- the information given in the Strategic Report and Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Trustees’ Report have been prepared in accordance with applicable legal requirements.
36
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**Independent Auditor’s Report to the Members of The Mare and Foal Sanctuary** _Continued_
## **Matters on which we are required to report by exception.**
In the light of our knowledge and understanding of the Charity and its environment obtained during the audit, we have not identified material misstatements in the Strategic Report and the Trustees’ Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the Charity, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Statement of Trustees’ Responsibilities set out on page 36, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as
## applicable, matters related to going concern and
using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the**
## **financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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 misstatement 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 based on these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud is detailed below:
As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the entity and the industry/ sector in which it operates to identify the key laws and regulations affecting the entity. As part of this assessment process, we discussed with management the key laws and regulations.
The key laws and regulations we identified were those that have a direct impact on the preparation of the financial statements such as the Charities Act and SORP.
We discussed with management how the compliance with these laws and regulations in monitored and discussed policies and procedures in place.
We also identified the individuals who have responsibility for ensuring that the entity complies with laws and regulations and deals with reporting any issues if they arise.
As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the entity’s ability to continue trading and the risk of material misstatement to the accounts.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:
- Enquiries of management and those charged with governance regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements;
• Reviewed legal and professional costs to identify any possible non compliance or legal costs in respect of non compliance;
- Reviewed Board minutes;
As part of our enquiries we discussed with management whether there have been any known instances, allegations or suspicions of fraud.
We also evaluated the risk of fraud through management override including that arising from management’s incentives. We determined that the principal risks were related to the overstatement of profit through the manipulation of cut-off, in respect of both income and expenditure.
Because of the inherent limitations of an audit, there
is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of noncompliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission
or misrepresentation.
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.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charity’s Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s Members those matters we are required to state to them in an auditor’s 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 Charity and its Members as a body, for our audit work, for this report, or for the opinions we have formed.
Sharon Austen FCCA (Senior Statutory Auditor) PKF Francis Clark, Statutory Auditor Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF
Date:
25 September 2023
38
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**The Mare and Foal Sanctuary:**
## **Notes and Accounting Policies**
## **Year Ended 31 December 22**
|Note
**Income**
Donations and Legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total Income
**Expenditure**
Raising funds
7
Charitable activities
8
Total Expenditure
Net gains/ (loss)
on investments
Proft on disposal
of fxed assets
**Net income /**
**(expenditure)**
Net movement in funds
Reconciliation of Funds
**Total funds at 1**
**November 2021**
Total funds at 31
|Unrestricted
Funds
Dec 2022
£
5,668,382
54,441
836,315
124,813
6,683,951
1,894,738
4,248,961
6,143,699
(406,462)
4,132
**137,922**
137,922
**14,425,515**
14,563,437|Restricted
Funds
Dec 2022
£
207,544
-
-
-
207,544
-
34,959
34,959
-
-
**172,585**
172,585
**5,000**
177,585|TOTAL
Funds
Dec 2022
£
5,875,926
54,441
836,315
124,813
6,891,495
1,894,738
4,283,920
6,178,658
(406,462)
4,132
**310,507**
310,507
**14,430,515**
14,741,022|TOTAL
Funds
Oct 2021
£
5,635,504
25,820
392,750
64,039|
|---|---|---|---|---|
|||||6,118,113|
|||||1,306,269
3,599,611|
|||||4,905,880
339,274
329,658|
|||||**1,881,165**|
|||||1,881,165
**12,549,350**|
|||||14,430,515|
Total funds at 31 December 2022
## **Balance Sheet**
|**Fixed assets**
**Note**
Tangible fxed assets
11
Investments
12
**Current assets**
Stock
Debtors
13
Cash at bank and in hand
14
15
**Liabilities**
Creditors - Amounts falling
due within one year
16
**Net current assets**
Creditors - Amounts falling
due after one year
17
**Net assets**
**Funded by:**
Restricted funds
18
Designated funds
18
General funds
18
Total funds
18|**Dec 2022**
**£**
6,448,933
4,016,843|**Oct 2021**
**£**
6,613,885
3,390,189|
|---|---|---|
||10,465,776
39,370
1,901,198
2,458,393|10,004,074
41,652
1,830,255
2,719,983|
||4,398,961
(123,715)|4,591,890
(158,623)|
||4,275,246|4,433,267|
||-
14,741,022|(6,826)
14,430,515|
||177,585
7,997,610
6,565,827|5,000
7,566,154
6,859,361|
||14,741,022|14,430,515|
||||
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies. This report was approved by the Trustees on 25th April 2023 and signed on their behalf, by:
**----- Start of picture text -----**
Helena Vega-Lozano Sue Cockayne
Co-Chair of Trustees Co-Chair of Trustees
**----- End of picture text -----**
## **Statement of Cashflows**
|**Note**
**Reconciliation of net movement in funds to**
**net cash fow from operating activities:**
Net income / (expenditure)
**Adjustments to cash fows from non-cash items:**
Depreciation
11
Investment management fees
Returns on investments and servicing of fnance
Proft on sale of fxed assets
Revaluation of Investments
Interest paid
Interest received
Decrease/(Increase) in stock
13
(Increase) in debtors
14
(Decrease) in creditors
16 & 17
Net cash provided by operating activities
**Cash fows from investing activities**
Interest income
Proceeds from the sale of fxed assets
Acquisitions of tangible fxed assets
Purchase of listed investments
Cash provided by / (used in) investing activities
**Cash fows from fnancing activities**
Capital repayment of HP lease
Interest paid
Net cash (used in) / provided by fnancing activities
**Decrease/Increase in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
|**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
310,507
1,881,165
291,917
238,863
30,954
22,119
(64,070)
(41,393)
(4,132)
(329,658)
406,462
(339,274)
802
876
(11,360)
(65)
2,282
(11,778)
(70,943)
(631,982)
(18,719)
(19,795)|
|---|---|
||873,700
769,078|
||11,360
65
23,627
967,760|
## **1 Accounting Policies**
## **a) Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items being recognised at cost or transaction value unless otherwise stated in the notes to these accounts.
The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2015) – (Charities SORP (FRS 102)), and with the requirements of the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS102. The functional and presentational currency is sterling.
## **b) Going Concern**
As set out in the Trustees report under section 11 (Finance Review) including the reserves policy, the charity has free reserves in excess of the policy level. Based on forecast financial information and current cash reserves, in the directors’ option it is appropriate to prepare the accounts on the going concern basis.
## **c) Fund accounting**
Restricted funds comprise funds subject to specific trusts that must be applied for specific purposes.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **d) Critical accounting judgements and key sources of estimation uncertainty**
In application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if
Company Registration Number: 07584914
40
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**The Mare and Foal Sanctuary:**
the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. The key critical judgement and estimate that the trustees have made in the process of applying the company’s accounting policies and that has the most significant effect on the amounts recognised in the financial statements is in respect of legacy income recognition. For those legacies which are probable, and therefore are included within income, but for which the final amount is not confirmed, the trustees have decided to generally recognise 90% of the expected income and deduct a further £5,000-£15,000 for those legacies including property, except when specific circumstances apply.
## **e) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts donated for resale are included in income when they are sold. Donated services or facilities, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable. No income is recognised where there is no financial cost borne by a third party.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been
provided or on completion of the service.
## **f) Expenditure**
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources:
Raising funds are those costs incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. They include the costs incurred in operating the charity’s shops.
Charitable activities include expenditure associated with the welfare, grazing and stabling of horses and ponies.
Irrecoverable VAT is included in the Statement of Financial Activities under the appropriate expenses heading.
## **g) Tangible fixed assets and depreciation**
Fixed assets are included at cost less depreciation. Depreciation is not charged on freehold land.
Depreciation is calculated so as to write off the cost of an asset less its estimated residual value over the useful economic life of that asset on a straight line basis as follows:
Freehold buildings – 2%/4%/10% p/a
Motor vehicles – 20% p/a
Furniture, fittings and equipment – 20% p/a
IT Equipment – 20% p/a
Database – 20% p/a
## **h) Liabilities**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement
can be estimated reliably. Liabilities are recognised at the amount that the academy trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods and services it must provide
## **i) Operating lease agreements**
Rentals applicable to operating leases are charged to the
SOFA on a straight line basis over the period of the lease.
## **j) Finance lease agreements**
Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability using the rate implicit in the lease. The finance charge is allocated to each period during the lease term to produce a constant periodic rate of interest on the remaining balance of the liability.
## **k) Stock**
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Cost includes all direct costs.
## **l) Investments**
Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the period.
## **m) Financial Instruments**
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company holds the following financial instruments, all of which are considered to be basic:
- Short term trade and other debtors and creditors
## **Notes and Accounting Policies**
## **7. Analysis of expenditure on raising funds**
|**n) Pensions**
The company operates a defned contribution pension
scheme and the pension charge represents the amount
payable by the company to the pension fund in respect of
the year.
**o) Disclosure of long period**
The charity’s policy in the previouis year was to align the
fnancial year with its fundraising activities. Therefore
the comparative amounts presented in the fnancial
statements (including in the notes) are not entirely
comparible.
**2 . Charitable Status**
The charity is a company limited by guarantee and is
registered with the Charity Commissioners for England
and Wales. The members of the company are the
trustees named on page 36. In the event of the charity
being wound up, the liability in respect of the guarantee
is limited to £1 per member of the charity. The charitable
company was incorporated in England and Wales.
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Donations and gifts
2,194,572
2,118,896
Legacies
3,605,861
3,316,621
Other Government Grants
75,493
199,987
**Total**
5,875,926
5,635,504
**3. Income from donations and legacies**
_Donations income includes £207,544_
_(2021: £11,961) of restricted income._
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Adoptions
50,607
24,398
Shows and rides
3,834
1,422
**Total**
54,441
25,820
**4. Income from charitable activities**
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Shop takings
809,116
362,661
Education
27,199
30,089
**Total**
836,315
392,750
**5. Income from other trading activities**
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Rent
49,383
22,581
Investment income
64,070
41,393
Interest receivable
11,360
65
**Total**
124,813
64,039
**6. Investment Income**
**8. Analysis of expenditure on charitable**
**activities**
**INCOME**
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Animal feed and general welfare
333,648
145,353
Veterinary and Farrier fees
248,251
309,550
Rent
2,590
2,689
Other property costs
29,850
24,870
Repairs, maintenance and cleaning
204,141
121,369
Motor and travel (including staff
fares)
53,386
26,302
Telephone
5,407
10,712
Sundry expenses
36,206
19,831
Wages and salaries
1,471,690 1,291,642
Trustees’ indemnity insurance
1,936
1,807
Support costs
1,896,815 1,645,486
**Total**
4,283,920 3,599,611
_All expenditure on charitable activities is incurred for the_
_provision of sanctuary and welfare._
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Advertising
47,750
23,970
Other costs
64,192
38,735
Printing and postage
313,555
273,691
Database management
22,485
16,761
Banking charges
29,533
20,065
Investment management fees
30,954
22,119
Wages and salaries
519,192
381,465
Charity shops – overheads
and cost of goods sold
811,842
498,060
Support costs
55,235
31,403
**Total**
1,894,738
1,306,269|**1 Nov 2021 to**
**31 Dec 2022**
**£**
47,750
64,192
313,555
22,485
29,533
30,954
519,192
811,842
55,235|**Oct 2021**
**£**
23,970
38,735
273,691
16,761
20,065
22,119
381,465
498,060
31,403|
|---|---|---|
||1,894,738|1,306,269|
||||
42
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
## **The Mare and Foal Sanctuary:**
## **Notes and Accounting Policies**
## **Statement of Financial Activities (Incorporating Income & Expenditure Account) Year Ended 31 December 22**
|**Year Ended 31 December 22**|||||||||
|---|---|---|---|---|---|---|---|---|
|Motor, travel and subsistence
Bank and credit card charges
Establishment costs
Postage, printing, stationery and offce
Telephone and communication
Sundry expenses
Light and heat
Repairs and renewals
Professional fees
Wages and salaries
Recruitment costs
Depreciation
Auditor’s remuneration
Other accountancy fees
**Total**
**9. Analysis of support costs**|**Raising**
**Funds**|
**Charitable**
**Activities**|
**Total**
**1 Nov 2021 to**
**31 Dec 2022**|
**Total**
**Oct2021**
**£**
17,727
12,020
82,831
8,546
20,535
56,381
30,794
450,943
54,789
671,373
17,214
238,863
12,000
2,873
1,676,889|**Analysis of staff costs, trustee remuneration**
**and expenses, and the cost of key management**
**personnel**
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**£**
**£**
Wages and salaries
3,169,929
2,443,773
Social security costs
254,840
181,827
Pension costs
58,196
43,592
Redundancy
1200
**Total**
3,484,165
2,669,192
In the period there was 1 redundancy payment (2021:nil). Redundancy
payments were compensation for termination of contract.
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**Number**
**Number**
Charity shops
30
25
Provision of sanctuary and welfare
92
88
Fundraising
17
18
**Total**
139
131
The number of FTE equivalent employees during the year was:
**1 Nov 2021 to**
**31 Dec 2022**
**Oct 2021**
**Number**
**Number**
Charity shops
20
17
Provision of sanctuary and welfare
79
80
Fundraising
14
14
**10.**||||
||**£**
5,362
32,475
1,746
3,073
8,944
3,360
275|**£**
37,227
14,682
101,005
6,799
36,347
88,510
41,220
172,249
94,252
984,317
19,607
283,323
14,400
2,877|**£**
42,589
14,682
133,480
6,799
38,093
88,510
44,293
181,193
97,612
984,317
19,882
283,323
14,400
2,877|**£**
17,727
12,020
82,831
8,546
20,535
56,381
30,794
450,943
54,789
671,373
17,214
238,863
12,000
2,873|||||
||||||||**1 Nov 2021 to**
**31 Dec 2022**
**Number**
30
92
17|**Oct 2021**
**Number**
25
88
18|
||55,235|1,896,815|1,952,050|1,676,889|||||
||||||||139|131|
||||||||||
|||||||||
**Oct 2021**
**Number**
17|
||||||||||
||||||||79|80|
||||||||14|14|
|||||||**Total**|113|111|
||||||||||
|The number of FTE equivalent employees during the year was:|The number of FTE equivalent employees during the year was:|The number of FTE equivalent employees during the year was:|The number of FTE equivalent employees during the year was:||
|---|---|---|---|---|
||**1 Nov 2021 to**|||**Oct 2021**|
|||**31 Dec 2022**|||
|||**Number**||**Number**|
|Charity shops||20||17|
|Provision of sanctuary and welfare||79||80|
|Fundraising||14||14|
|**Total**||113||111|
||||||
**One employee earned (excluding employers’ pension and NIC) more than £90,000 and less than £100,000 for the 14 month period (2021: none for the 12 month period), no employees earned (excluding employers pension and NIC) more than £80,000 and less than £90,000 for the 14 month period (2021: One for the 12 month period) and one employee earned (excluding employers pension and NIC) more than £70,000 and less than £80,000 for the 14 month period(2021: none for**
**the 12 month period).**
**The key management personnel comprise five people (2021: five). The aggregate employee benefits payable to the directors for the 14 month period (including employers’ pension and NIC) was £355,529 (2021: £301,715). No remuneration was paid to trustees.**
## **11. Tangible Fixed Assets**
|**Freehold**
**Property**
**Motor**
**Vehicles**
**Furniture,**
**Fittings &**
**Equipment**
**IT**
**Equipment**
**Database**
**£**
**£**
**£**
**£**
**£**
**Cost**
At 1 November 2021
7,846,483
271,751
294,680
45,944
52,470
Additions
46,260
63,342
30,859
-
5,999
Disposals
-
(38,744)
-
-
-
**At 31 December 2022**
**7,892,743**
**296,349**
**325,539**
**45,944**
**58,469**
**Depreciation**
At 1 November 2021
1,427,542
131,183
255,618
30,630
52,470
Charge for the period
192,848
59,920
28,429
10,720
-
Disposals
-
(19,249)
-
-
-
**At 31 December 2022**
**1,620,390**
**171,854**
**284,047**
**41,350**
**52,470**
**Net Book Value**
**At 31 December 2022**
**6,272,353**
**124,495**
**41,392**
**4,594**
**5,999**
At 31 October 2021
6,418,941
140,568
39,062
15,314
-
The net book value of assets held under fnance leases and hire purchase contracts, included above, are as
**Dec 2022**
**£**
Furniture, fttings and equipment
10,740
IT Equipment
4594|**Freehold**
**Property**
**£**
7,846,483
46,260
-|**Motor**
**Vehicles**
**£**
271,751
63,342
(38,744)|**Furniture,**
**Fittings &**
**Equipment**
**£**
294,680
30,859
-|
**IT**
**Equipment**
**£**
45,944
-
-|**Database**
**£**
52,470
5,999
-|**Total**
**£**
8,511,328
146,460
(38,744)|
|---|---|---|---|---|---|---|
||**7,892,743**|**296,349**|**325,539**|**45,944**|**58,469**|**8,619,044**|
||1,427,542
192,848
-|131,183
59,920
(19,249)|255,618
28,429
-|30,630
10,720
-|52,470
-
-|1,897,443
291,917
(19,249)|
||**1,620,390**|**171,854**|**284,047**|**41,350**|**52,470**|**2,170,111**|
||||||||
||||||||
||**6,272,353**|**124,495**|**41,392**|**4,594**|||
||6,418,941|140,568|39,062|15,314|||
||||||||
||||||||
44
45
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**The Mare and Foal Sanctuary:**
## **Notes and Accounting Policies**
## **Year Ended 31 December 22**
||||||||**14. Debtors: Due wi**|**14. Debtors: Due wi**|**14. Debtors: Due wi**|
|---|---|---|---|---|---|---|---|---|---|
|||||||||||
|||||||||||
|**Other**||||**Total**||||||
|**tt**||||||||||
|**vesmen**||||||||Other taxation and social||
|**£**||||**£**||||
Trade debtors||
|||||||||||
|||||||||Other debtors||
|101
-
-||||3,390,189
1,064,070
-||||Prepayments and accrued
Legacies receivable||
|||||||||||
|||||||||||
|-||||-||||||
|||||||||||
|-||||(406,462)||||||
|-||||(30,954)||||||
|**101**||||**4,016,843**||||||
|||||||||||
||||||||**15. Cash at Bank an**|||
|**Dewc 2022**||||**Oct 2021**||||||
|||||||||||
|**£**||||**£**||||||
|||||||||||
|39,370||||41,652||||Cash at bank and in hand||
|||||||||||
|||||||||||
|||||||||||
## **12. Fixed Asset Investments**
## **16. Creditors: Due within one year**
## **14. Debtors: Due within one year**
|Net obligations under fnance leases and hire purchase contracts
Trade creditors
Accruals and deferred income
Other creditors|**2022**
**£**
2,651
98,249
17,675
5,140
123,715|**2021**
**£**
18,840
92,675
44,293
2,815||
|---|---|---|---|
|||158,623||
|||||
|Other taxation and social
Trade debtors
Other debtors
Prepayments and accrued
Legacies receivable|security
income|**Dec 2022**
**£**
5,243
5,885
1,000
184,738
1,704,332|**Oct 2021**
**£**
21,955
16,816
813
188,629
1,602,042|
|---|---|---|---|
|||1,901,198|1,830,255|
|||||
|||||
||||**Listed**|**Listed**||**Unlisted**|**Unlisted**||**Other**|||**Total**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||**Securities**|||**Securities**|||**investments**||||
||||||||||||||
||||**£**|||**£**|||**£**|||**£**|
||||||||||||||
|**Market value**|||||||||||||
||||||||||||||
|At 1 November 2021|||3,371,929|||18,159|||101|||3,390,189|
||||||||||||||
|Additions at cost|||-|||1,064,070|||-|||1,064,070|
|Additions to shares|||1,257,582|||(1,257,582)|||-|||-|
|Sale of shares|||(248,168)|||248,168|||-|||-|
|Revaluations|||(406,462)|||-|||-|||(406,462)|
|Charges|||-|||(30,954)|||-|||(30,954)|
|**At 31 December 2022**|||**3,974,881**|||**41,861**|||**101**|||**4,016,843**|
||||||||||||||
## **17. Creditors: Due after one year**
## **13. Stock**
## **15. Cash at Bank and in Hand**
||**Dec 2022**|**Dec 2022**||**Oct 2021**|||||**2022**|**2022**||**2021**|**2021**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||
||**£**|||**£**|||||**£**|||**£**|||
||2,458,393|||2,719,983||Net obligations under fnance leases and hire purchase contracts|||-|||6,826|||
||||||||||-|||6,826|||
||||||||||||||||
**----- Start of picture text -----**
Animal supplies and goods for resale
**----- End of picture text -----**
## **18. Funds**
## **Restricted funds**
Funds received for specific purposes including facility improvements works, environmental upgrades and to fund essential vet fees.
**Property and fixed asset designated fund** The Trustees have separately identified funds tied up in property and other tangible fixed assets, as these funds, by their nature, are not freely available for the day-to-day use of the charity. The transfer into this fund represents the movement in fixed assets during the year.
## **Charity development designated fund**
The designated development fund is intended to fund the capital programme as well as development activities such as the growth of education activity and research. It also includes a ringfenced amount from the sale of South Manor site which is being held for future capital expansion.
**Remaining funds (i.e. those not designated or invested in fixed assets).**
Represent the free reserves of the charity.
## **Innovation Fund**
The innovation fund supports new areas of sanctuary activity, such as new research, training or practices, which may be associated with external funding.
46
47
**Mare and Foal Sanctuary** 2022
**Mare and Foal Sanctuary** 2022
**The Mare and Foal Sanctuary:**
## **18. Funds (continued)**
|**Restricted funds**
Trust income
**Designated funds**
Property and fxed asset
designated fund
Charity development
designated fund
Development Fund
**General funds**
General free reserves
**Total unrestricted funds**
**Total funds**
**19 Oeratin Leas**|||||||
|---|---|---|---|---|---|---|
||**Brought**
**Forward**
**1 Nov 2021**
**£**
5,000
6,613,885
952,269|
**Income **
**£**
207,544
-
-|**Expenditure**
**£**
(34,959)
(270,617)
(318,081)
(588,698)|**Transfers**
**In/Out**
**£**
-
101,533
755,489
159,000|**Gains**
**(Losses)**
**£**
-
4,132
-
4,132|**Carried**
**Forward**
**31 Dec 2022**
**£**
177,585
6,448,933
1,389,677
159,000|
||7,566,154|-||1,016,022||7,997,610|
||6,859,361|6,683,951|(5,555,001)|(1,016,022)|(406,462)|6,565,827|
||14,425,515|6,683,951|(6,143,699)|-
-|(402,330)|14,563,437|
||14,430,515|6,891,495|(6,178,658)||(402,330)|14,741,022|
||||||||
||||||||
## **19. Operating Lease Commitments**
|**19. Operating Lease Commitments**|||
|---|---|---|
|At 31 December 2022, the charity had total future minimum lease payments
as follows:
In less than 1 year
Within 2-5 years
Over 5 years
_During the year lease payments totalling £171,904 (2021: £112,759) were_
_recognised as an expense._||**Oct 2021**
**£**
81,890
268,400
86,021
436,311|
||**Dec 2022**
**£**
112,800
373,688
85,438|**Oct 2021**
**£**
81,890
268,400
86,021|
||571,926|436,311|
||||
## **20. Related Party Transactions**
During the year the charity paid travel and other expenses totalling £1,124 (2021: £666) to 10 (2021: two) trustees.
Jane Williams, trustee, is a trustee of International Society for Equitation Science until March 2023. During the year, the charity procured services totalling £600 from the International Society for Equitation Science. None of which owing at 31 December 2022.
## **21 . Pension**
The charity operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in and independently administered fund. The contributions paid from unrestricted funds by the charity to the fund during the year totalled £58,196 (2021: £43,592).
## **22 . Agency Arrangements**
The charity is holding funds for HEIR UK, a pilot project for the Federation of Horses in Education and Therapy (HETI), of which The Mare and Foal Sanctuary is a full federation member. In the accounting period 31 December 2022, the charity received £40,000 (2021:nil) and disbursed £14,392 (2021:nil) from these funds.
**----- Start of picture text -----**
49
Mare and Foal Sanctuary 2022
**----- End of picture text -----**
48
**Mare and Foal Sanctuary** 2022
Honeysuckle Farm Haccombe-with-Combe Newton Abbot TQ12 4SA
**www.mareandfoal.org 01626 355969 supporters@mareandfoal.org**
The Mare and Foal Sanctuary is a registered charity in England and Wales (No. 1141831) and a company limited by guarantee registered in England and Wales (No.7584914)
© Mare and Foal Sanctuary 2023