ASHFIELDS E UESTRIAN TRUST FINANCL4L STATEMENT R THE YEAR ENDED 31 JULY 2
ASHFIELDS E IJESTRIAN TRUST TRUSTEES: Ms Z E Morgan - Chair Mi's B Kene&ly- resigned 4 March 2026 Mr C C Easter Ms C R Chambers REGISTERED ADDRESS.. Ashfields Carrtage and Polo Club Great Canfield Dunmow Essex CM6 IJU CHARITY REGISTRATION NUMBER.. 1143284 INDEPENDENT EXAMtNER'. C Pardo¢ FCA 37 Fraser Close Chelmsford E5S¢X CM2 OTD ooooooo NTENTS Trust¢¢s' R¢port Independent Bxaminers Report Statetnent of Finan¢ial Activities Balance Sheet 7-12 Notes to the Accounts
Page I ASHFIELDS E UESTRIAN TRUST TRUSTEES? REPORT FOR THE YEAR ENDED 31 JULY 2025 The tn]stees present th¢ir report along with the financi81 statements of the Charity for the petiod ended 31 July 2025. The financial statsments have been prepared in accordance with the accounting policies set out on pttges 7 and 8 and comply with th¢ oharity's trust deed and applicable law. Constitutlon and objects The Charity's objects are for the promotion for the benefit of the young or disabled people of th¢ amateur sport of can'iage driving, by providing facilities and equipment. Organis&tion The trustees who h&vc s¢rved during thc period ar¢ set out on page l. Trustees were initially appointed from volunteers from amongst inlerestsd sectors of the community and all serve on the committee. Half of th¢ members of the Commiltce are subject to ¢l¢Gtion or re-election at the Annual G¢neral Meetiiig for a period of two years. 'ri)e Committee m¢¢ts regularly to discuss the ruttning of the chai'ity, and various $ub-¢ommittees are formed to addr¢ss specific issues, such as fund raising. Financial Revlew Incomin8 resources for the year Amounted to £126,633 (2024,. £131,979). Total resources expended for tl)e y¢ar were £133,943 (2024.. £130,673). The net movement in fund5 was (£7,310) (2024.. £1,306), The net assets of the charily on 31 July 2025 were (£2,062) (2024.. £5,248), Th¢ net book value of fixed assets on 31 July 2025 was £2,737 (2024.. £3,292). The defi¢it of £7,310 was larg¥ly due to t¢mporary incrcases in statfing costs arising fiDm illness and mat¢n]ity cover. Thes¢ costs have now relumed to noimal l¢v¢ls. In February 2026 the charity r¢c¢ived a donation of £76,000 from ll truste4 which has significantly impi'oved th¢ ¢harity's financial position. The trustees arc satisfied that lh¢ charity remeins a going concern Revlew of Aehlevements durlng thé year Again, we have continued our work with young drivers. building a strong tsam to deliv¢r sessions for botli competitive and therapy drivers. Our adult groups who now tEgularly attend also coming up and driving the ponies out on drives around the tracks and partAking in th¢rapy sessions for mentsl health with FILY who excels in this direction as well as his usual driving lessons. We have added ,4ome non- driving ponies that have been of Il)crapeutic Comfort to people ihat just lov¢ to groom them. We have hAd another fantsstic suinm¢r camp with Barrow fm Ridin8 and Driviiig for the disabled group, they love the venue for their now ovcrsubscribed camp and hugely enjoy their social time in the carriage museum. Flly continues to drive alongside their poi)ies and is a super star. The suppoit continues from th¢ East Anglia carriage driving group, holding juiiior camps and training days. Ashfield's works very closely with the East Anglia driving group as their objectives and views 'to encouraging people of all ages and disabilities into drivii)g and othei. life skills, such a5 comTnunication, organisation and working wilh others. We have delivered a number of try driving opportunities to a diverse group of peopl¢. W¢ are Counting to offer opportunities to ¢ncourage people into this wonderful sport of cattiage driving and accessibility to our ponies in a safe and healthy environment. With growing costs of haylstraw and forage for the horses and ponies we are continuing to push forward with new ideas and opportunities to raise money to enabl¢ us to keep providing our services to an ever-growing demand.
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Page3 SHFIELDS E UESTRIAN TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 IULY 2025 Reserves Poliey The charity's policy is to maintain Sufficient reserves to cov¢r its operational costs for at least the following 3 months. Ai Ihe year end, the charlty had suffi¢i¢nt reserves to comply with this policy. The l¢v¢l of reserves is kept under close scrutiny by the tNstee$. Public Benefit The Trustees Iiave oomplied with the duty in Section 17 of the Charities Act 201 I to have due regard to public benefit guidance published by thc Charities Commission. They have referred lo th¢ guidanc¢ in tlie Charity Commission's general 8uidan¢e on Public Benefit when reviewing the Trust's aims and objectives and in planning future a¢tivilies as demonstrttted above Risk anagement The trustees l)av¢ examined thc mAjor operational. stral¢gic and business risks which the charity faccs and coi)firin tliat appropriate systems are in plac¢ to mitigate the effects of these risks. Trustee's responsibilities in rellttlon to the fjnaneial statements Law applicable to Charities in England and Wales qUir¢S the trustees to prepare financial statements for each financial period, wlii¢h give a Ii'ue and fair view of the cliarity's financial actLVlties duriiig th¢ p¢riod aiid of lis finan¢ial position at the end of the period. In preparing those financial statement th¢ trustees are requirod to., Select SLlitable accounting policies and then apply them consistently, Make jud8emen15 and estiinates that Are reasonable and prudent. State wheth¢r applic&bl¢ accounlii)¥ standards and statcments of recommended practice have been followed $ubje¢t to Any departures dis¢los¢d and explaincd in the financial st&tem¢nts' and P1'eP.¢ th¢ financial statements on the going concern bASiS unless it is inappropriat¢ to presiime that the cl)ai'ity will conlinue in business. Th¢ trustccs are responsible for kccping accounting records which disclose with reasonable accuracy at any time tlie financial pc)sition of the charity aiid ¢nable them to ensure that th¢ financial stateinenls comply with the Charities Act 2011. They ar¢ also responsible for saf¢8uarding the assets of the oharity and henc¢ foi. takiiig reasonllble st¢ps for tE]e prevention and detection of fraud and oth¢r irregularitics.
Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASHFIELDS E UEI STRIAN TRUST Indepcndent Examiner's Report to the Trustees of ITrust Natnel I report to the trustees on my examination of the financial ststements of Ashfields Equestrian Trust for the year ended 31 July 2025. Responsibllltles And B4$is of Report As the Charity's trustees. you are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an ind¢pendent examination is appropriate. I have been appointed as an independent examiner and I'eport in accordance with the appli¢abl¢ Directions given by ihe Charity Commission under section 145 of the Charities Act 2011. My examination includes a review of the accounting records, and a coinparison of the accounts pres¢nt¢d with those records. Et also includes consideration of any unusual items or dIloSUreS in the accounts and explanations from the trustee$ eono¢rning such matters. The procedur¢s undertaken do not provide all the evidence that would b¢ required in an audit and, consequently, I do not expr¢ss an audit opinion on the financial statsments. Independent Examiner's StAtement In connection with my examination, no mat¢ers have come to my att¢ntion which give me reasonable cause to believ¢ ihat, in any material respect: accounting records hav¢ not been kept in ac¢ordan¢e with section 130 of the Chariti¢5 Act 2011. or the financial statements do not ac¢ord with those records and comply with th¢ applicable accouncing quIrements. How¢ver, I draw attention to the ftillowing matters., l. Reserve's Policy- The Trust's stated reserves policy is to maintain funds equivalent to three months, operatiiig expenses. At the y¢ar-¢nd, this taig¢t has not b¢en met. However, as notsd in the Trustee rcport and the nofrs to th¢se accounts, a sum of £76,449 ha5 been donated to tl)¢ Trust which has bolstered the trust's reserves. 2. Bookkeeping Servlces- Bookkeeping services for the Trust are und¢rtaken by Chelmer Company Services Limitcd ("CCSL"). While I, as the Priiicipal of CCSL and the Independent ExAminer, do not p¢rsonally p¢rfonn th¢s¢ s¢rviG¢s, th¥y ar¢ carried out by an ¢mploy¢e of CCSL. Appropriate safeguards have been consider¢d to ensure the independenc¢ and objectivity of this examination. C Pardoe FCA Chartered Ao¢ountant 37 Fraser Close Chelmsford Essex CM2 OTD Dats:
Page S ASHFIEUDS E UESTRL4N TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025 Unre$trieted Restricted Funds Funds TOTAL TOTAL FUNDS FtfNDS 2025 2024 Notes INCOMING R£soifRCES Voluntary income 4,487 4,487 21.951 Activities for generÉtin8 ttds 122,146 122.146 110,028 TOTAL INCOMING RESOURCES 126.633 126,633 131,979 RESOURCES EXPF,NDED Cost of generating funds 27,124 27,124 26,686 Costs of activiti¢s undertaken dimtly 102,606 102,606 100,619 Governance costs 4,213 4,213 3,368 TOTAL RESOURCES EXPEIYDED 133,943 133,943 130,673 NET MOVEMEY4T IN FUNDS FOR THE YEAR (7,310) (7,310) 1,306 BALANCES BROUGHT FORWARD At l August 2024 5,073 175 5,248 3,942 BALAYCFS CARRIED FORWARD At 31 July 2025 (2,237) 175 (2,062) 5,248
Page6 ASHFIELDS E TRIAN TRUST BAL ET- 31 JULY 2025 Notes 2015 2024 TANGIBLE FIXED ASSETS 2,737 3.292 CURRENT ASSETS Debtors Cash at bank and in hand 73 4,337 7,621 TOTAL CURRENT ASSETS 4,410 LIABILlTtES Amounts falling due in l year 9,209 5,665 NET CtniRENT ASSETS (LIABILITIES) (4,799) 1,956 TOTAL ASSETS (2,062) 5,248 FUNDS Unrcstricted Reslricted 175 (2,237) 175 5,073 (2,062) 5,248 Approved by the Committee of Trustees and signed on its behalf by: Ms Z E Morgan Date of Approval:
Page 7 ASHFIELDS UESTRIAN TRUST NOTES TO THE FINANCIAL STATE NTS-31 JULY 2025 PRINCIPAL ACCOUNTING POLICIES OF ASHFIELDS EQUESTRIAN TRUST The financial statements have been prepared under the historical cost convention and in ac¢ordance with th¢ Financial Reporting Standai'd applicable in the UK and Republi¢ of Ireland (FRS 102). Section IA for small entities, the St3t¢ment of Recommended Practice AccoLin¢ing nd Reporting by Charities" (Charit1¢5 SORP (bRS 102)), and the Charities Act 2011. Going Concern & Po$t Balanee Sheet Events The accounts have been prepared on a going ¢onc¢m basis. For the year ended 31 July 2025 the ¢harily irported & deficit of £7,310 (2024.. surylus £1,306) and, at th¢ balancc sheet date, had n¢t liabilities of £2,062. The deficit for th¢ year arose in part due to higher-than-nornial StaIng oosts, with total labour Costs of £66,385 ¢ompared to £55,557 in th¢ prior year. Tli¢s¢ increased costs were larg¢ly attributable to temporary staff cover qLlIred during periods of illness and maternity leave. These circumstances have been resolved, and staffing costs have returned to mor¢ normal Icvels. In addition, in February 2026, a trustee donated £76,000 to the charity, While this donation is unr¢stricted, the donor hag indicated that it is iiitended to support repairs and maiiitenanee of the charity's faciliti¢s. Having considered Ili¢ charity's finAn¢ial position and taking these factors into account the trustees are satisfied that the Gharity has equate resourG¢s to continue in operational ¢xistenc¢ for tlie fores¢eable future. Accordingly, the trustees ¢on8idor it appropriate to prepare the accounts on a going conccm basis, The principal accounting policies of the Trust ar¢ set out below. Fund a¢¢ountlng The Trust's g¢n¢rnl reserves consist of funds which the Trust may use for ils purpose at its own dis¢r¢tion. ncome General income relat¢s to trAnsa¢tions, which ar¢ unallocated to departmental Activities. Intei'est, rental and dividend ineom¢ is credit¢d when receivable to income and expenditure account. All voluntary income is included in the financial statements on reipt. Donations under gift aid plus the associated incomc tax recovery are r¢¢ognis¢d as income when rcceived. Legacies to which th¢ ¢harity is entitled ar¢ includ¢d in the statement of financlal a¢tiviti¢s unless they ar¢ incapable of measurem¢nt. Intangible incoine is valued and included in income to th¢ ¢xtent that it represents goods or services, which would otherwise be purchased. AtTr equivalent amount is chArged as expenditure. Voluntary help 15 not included as income. Fixed assets and depreciation Fixed assets are included in fin&nciaI statements at historical cost less depre¢iation. Donated ass¢ts are recognised in financial statements on receipt.
P#ge 8 Depreciation is calculatsd to write down th¢ cost of all tangible fixed ass¢ts (other than fr¢¢hold prop¢rty) oveT their expected useful ¢¢onomic lives. The periods or rates generally applicable are: Plant and machinery Leasehold property 250/0 reducing balLn¢¢ l OQ/• of cost TaxAtion The Trust has charitable status and is entitled to tax exemptions available to charities under th¢ Corporation Tax Act 2010 and the Income Tax Act 2007, as well as other appli¢able legislation.
Page 9 ASIIFIELDS E UESTRIAN TRUST TES TO THE FINANCIAL STATE (Continued) ENTS- 31 JULY 202 INCOMING RESOURCES l. Voluntary Income Unr¢stricted Restricted Fullds Funds TOTAL 2025 TOTAL 2024 Donations 4,487 4.487 21,951 4,487 4,487 21,951 2. Activities for I'he Generation of Funds.. Funds generated by.. Unrestricted Restrlcted Funds FMnd$ TOTAL 2025 TOTAL 2024 Liv¢ry Flat rental Hiro of premtses 80,999 6,300 34,847 80,999 6,300 34,847 84,997 6,300 18,731 122,146 122,146 110,028 RESOURCES EXPENDED: 3. Cost of generatin8 funds Unre8trlettd Restricted Funds Funds TOTAL 2025 TOTAL 2024 Hors¢ expenses Hir¢ of Equipment Vet&N¢dical 27,124 27,124 26,686 27.124 27,124 26,686
Page 10 ASHFIELDS E IJESTRIAN TRUST NOTES TO THI FINANcL STATEMENfs- 31 IULY 2025 (Continued) 4. Costs of activities in furtherance of the charity's objects: Unrestricted Restrleted Funds Funds TOTAL 2025 TOTAL 2024 Gross Wages Pension coiits'ibutions Sub-contract Water Rates General Rates 48,641 1,085 17,744 1,348 645 1,192 12,517 558 663 48,641 1,085 17,744 1,348 645 1,192 12.517 558 663 43,750 934 11,807 698 479 872 21,566 539 620 205 3,285 6.212 180 7,780 1.692 Electricity Repairs & Servicing Telephone Bank Charges Vehicl¢ expenses Insurance W¢bsile hosting Pi'einise4 expenses Depreciation 2,476 7,141 270 7660 555 2,476 7,141 270 7660 555 102,606 102,606 100,619
Pa£e 11 ASHFIELDS E UESTRLIN TRUS NOTES TO TIIE FtNANCIAL STATEMENIS- 31 (Continued) Y 2025 5. TANGIBLE FIXED ASSETS Pi4ut & Le48ehold Machlnery Property Total COST At l August 2024 Additions 11,891 11,889 23,780 At 31 July 2025 11,891 11,889 23,780 DEPRECIATION At l August 2024 Charge for year 10,383 377 10,105 178 20,488 555 At 31 July 2025 10,760 10,283 21,043 NET BOOK VALUE At 31 July 2025 1,131 1,606 2,737 At 31 July 2024 1,508 1,784 3,292 6. DEBTORS 024 Debtors & prepaym¢nts 73 73 7. CREDITORS Amounts falling due wlthiu l year 202 2024 Other creditors Accruals 5.753 3,456 2,852 2,813 9,209 5.665
Page 12 ASHFIELDS UESTRIAN T UST NOTES TO FINANCIAL STATEMENTS- 31 JULY 2025 (Continued) 8. Employees The average number of employees during the year was 2 (2024.. 2). No employee received more than £60.060 in emoluments during the year (2024: Nil) During the year, no trustees received any remuneration (2024 Nil) nor reimbursement of expenses (2024 Nil). The total resources ¢xpended on managing and administering the charity of £4,213 (2024.. £3,368) includes the cost of the independent review of th¢ financial stat¢m¢nts of £1,100 (2024: £1.100). 9. RelAted Porty Transactions During the year. the charity received rental income from a trustee, Zo¢ Morgan, who occupies a tlat owned by the trust. The terms of th¢ rental agr¢em¢nt are as follows.. Monthly Rent* £525 Annual Rent: £6,300 Rent Basis: The rent is set at the mark¢t rate, as deterniin¢d by an independent valuation. At the r¢port'ing date, there were no outstanding bal#n¢cs related to this transaction, Th¢ trustee was not iiivolved in any decisions regarding the r¢ntal agreement to avoid any confli¢t of inierest. Since the 31 July 2025 Ms CR Chambers, a Trustee, donated a sum of £76,449 to the Trust.