Company registration number: 08359099 Charity registration number: 1150948
## LLUEST HORSE AND PONY TRUST
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2025
## **LLUEST HORSE AND PONY TRUST**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Strategic Report|2|
|Trustees' Report|3 to 7|
|Independent Examiner's Report|8 to 9|
|Statement of Financial Activities|10|
|Balance Sheet|11 to 12|
|Statement of Cash Flows|13|
|Notes to the Financial Statements|14 to 23|
## **LLUEST HORSE AND PONY TRUST**
## **Reference and Administrative Details**
**Trustees** Lauren Nicole Dawes Ann Slater Alison McMillan **Charity Registration Number** 1150948 **Company Registration Number** 08359099 The charity is incorporated in England. **Registered Office** Beili Bedw Farm Llanddeusant Llangadog, Carmarthenshire SA19 9TG **Independent Examiner** Ridgeway Accounting & Consultancy Limited Chartered Accountant 226 Battersea Park Road London SW11 4ND
Page 1
## **LLUEST HORSE AND PONY TRUST**
## **Strategic Report for the Year Ended 31 March 2025**
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2025, in compliance with s414C of the Companies Act 2006.
## **Financial review**
## _**Policy on reserves**_
Any unspent unrestricted funds at the end of the period will be carried forward and used to either sustain the Charity or to try to obtain matched funding. The financial risk assessment has been reviewed and the risks identified are the inability to attract funding for staff posts, core funding for running costs and the possible loss of key staff members.
It is the Trustees' aim that the amount to be kept in reserves is to be between £50,000 and £60,000 which will give the Trustees time (up to five months) to assess how to scale projects up or down or how to continue with service delivery for a period up to five months.
The strategic report was approved by the trustees of the charity on 2 December 2025 and signed on its behalf by:
A F Slater (Dec 2, 2025 17:17:31 GMT) ......................................... Ann Slater Trustee
Page 2
## **LLUEST HORSE AND PONY TRUST**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025.
The Trustees confirm that they have complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Significant activities that were undertaken during the year demonstrate public benefit and are set out in the following pages.
## **Public benefit:**
1. The protection of equines in need of care and attention by reason of old age, sickness, maltreatment,
neglect, poor circumstances or other similar cases.
2. To place suitable equines in approved guardian homes and inspect their welfare on a regular basis.
3. To school equines to a standard that they can be made available for riding by and for the pleasure of able, disabled and disadvantaged persons.
4. To monitor conditions at markets and the surrounding mountain and marshland areas in the south of Wales
to identify any equines who may need intervention or care.
5. To assist in the education of responsible equine ownership, raise awareness of the problems caused by
indiscriminate breeding, to discourage breeding, and raise awareness of the importance of reporting
suspected cases of cruelty and neglect.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to
have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Overview of the year:**
As we reflect on 2024–2025, we remain immensely proud of the unwavering commitment and resilience that defines Lluest Horse and Pony Trust. Like many small charities, we have not been immune to the impact of the UK’s ongoing cost-of-living crisis, which has brought new and significant challenges. Rising operational costs and a tightening economic climate resulted in a reduction in staffing during the final quarter of the year.
Despite these pressures, our small and dedicated team rose to the occasion with characteristic determination, ensuring the continuation of the high standards of care, rehabilitation, and welfare that our equines deserve. This steadfast commitment was recognised when our team was nominated for the Petplan Animal Charity Team of The Year Award, a reflection of the passion, professionalism, and perseverance that drives our work.
We adapted creatively and resourcefully to financial challenges. With the support of a fantastic volunteer, we continued to establish a new stream of income through the sale of donated tack, rugs, and equipment. Staff also threw themselves into auctioning and car booting, turning community generosity into much-needed funding.
Page 3
## **LLUEST HORSE AND PONY TRUST**
## **Trustees' Report**
## **Gratitude and Acknowledgments:**
We extend our heartfelt thanks to the many individuals, volunteers, and grant-making bodies whose support sustained our efforts through a difficult year.
**Hilda Florence Holmes Trust** : Their increased monthly donation was both timely and transformative, helping us meet rising core costs and ensuring continuity of care for our equines.
**British Horse Society** : Their support funded the castration of an abandoned colt in November, enabling us to safely welcome him into our rescue, proof of the power of collaboration.
**Community Fundraising** : A dedicated volunteer helped turn donated tack and rugs into income through sales, while our resourceful staff took to auctions and car boot sales, transforming surplus into much-needed funds.
We would also like to express our deepest thanks to all of our volunteers, donors, and supporters, both individuals and groups who, in ways both big and small, make our work possible. Whether it's giving time, skills, funds, or simply sharing kind words and encouragement, your support is the lifeblood of Lluest. While there are too many to name individually, please know that each of you plays an essential part in every life we save, every equine we rehome, and every positive change we make. We are profoundly grateful.
## **Charitable objectives achieved:**
**Rescue and Rehabilitation** : This year we responded to a rising trend in the abandonment of colts and stallions. Nine were taken into our care during 2024, with two more arriving in early 2025. Each received expert attention, with plans for training and rehoming as appropriate. A notable success was the hand-rearing and rehabilitation of an abandoned orphan colt foal, now thriving thanks to round-the-clock care. Sadly, we lost two other foals, highlighting the fragility of neglected animals on intake.
Rehoming and Adoption: Through our Guardianship scheme and home-to-home support, we secured bright futures for 15 equines in long term guardian homes. Rehoming remains a central part of our mission, providing sustainable outcomes for animals once deemed “unwanted.”
Education, Training and Support: We offered equine interaction and work experience opportunities for young people and adults with learning difficulties and disabilities, as well as placements for veterinary and animal care students, building both skills and confidence.
Collaboration for Greater Impact: We continued to work with other welfare organisations including the RSPCA and the BHS. These partnerships strengthen our capacity to respond to complex welfare situations and increase our reach across Wales.
Alongside our rescue and rehoming work, Lluest continued to deliver on its wider charitable objectives:
**Direct rehoming support** : We remain dedicated to assisting struggling equine owners by facilitating direct rehoming opportunities for their animals, helping to prevent cases of abandonment and neglect.
**Outdoor and equine interaction opportunities** : We provided valuable outdoor and equine interaction opportunities for young people and adults with learning difficulties and disabilities. Through tailored programs, we offered individuals work experience opportunities that foster personal growth, resilience, and skill development in a supportive environment.
Page 4
## **LLUEST HORSE AND PONY TRUST**
## **Trustees' Report**
**Education and placements** : We extended work experience placements to veterinary and animal care students, contributing to their education and professional development while raising awareness of equine welfare.
**Community education and advice** : We are committed to providing comprehensive advice and education on equine welfare. This year we engaged with the public through volunteering opportunities, attendance at local shows, and an active presence on our website and social media platforms. Our goal remains to empower individuals with the knowledge and resources needed to promote responsible equine care and welfare.
|New
Rescues/
Intakes|Returned
from
Guardian
Homes|Rehomed|Rehomed
Home
to
Home|Euthanised
unsurvivable
Illness
or
Injury|in
Homes|
|---|---|---|---|---|---|
|11|11|16|4|9|161|
## **Fundraising**
The board recruited a Trustee (Sue Jueno) with specific grant application experience, and she very quickly got through to the final stages of the Fore grant (awaiting result)
Trustee Chantal Cooke runs a PR and SM agency – she mentored temporary staff member Aimee who took over responsibility for SM and within her short contract Aimee had increased Lluest’s SM following by 60%. Chantal also ran a PR campaign writing press releases for events and the Lord of the Rings rescue – this resulted in regular media coverage plus a feature on ITV. Raising the profile of the Trust.
Trustee Jenni Nellist ran a series of horse behaviour workshops on-site at Lluest which raised money, and provided education for attendees (staff were also invited).
We continued to hold two Open Day’s including the sale of donated tack, rugs and equipment, refreshments, a dog show, trade stalls, demo’s, meet and greets with the rescues. The Sept 2024 Open Day was one of our most successful, despite the wet weather – this is likely to be due to much improved advertising on social media and in the press.
A new modernised IT system was implemented, allowing for improved internal file collaboration and security. The new system, which was cheaper thanks to Microsoft365 nonprofit grant and therefore allowed us to include an automatic back up of data for the same price as we had been paying before. All the eligible computers have also been upgraded to Windows Pro.
## **Conclusion**
The 2024–2025 year has been one of both challenge and achievement. Rising costs and financial uncertainty placed pressure on our small team, but thanks to their determination, the dedication of our volunteers, and the generosity of our supporters, Lluest has continued to deliver life-changing outcomes for equines in need.
Page 5
## **LLUEST HORSE AND PONY TRUST**
## **Trustees' Report**
The year saw innovation in fundraising, stronger community engagement, and national recognition through our Petplan nomination. At the same time, the financial reality remains clear: our expenditure exceeded income, and like many small charities we must continue to diversify and stabilise our funding base. Legacies remain vital, but the growth of Sponsorship, the development of our tack sales, and the planned launch of a charity shop all give us confidence for the future.
As we look ahead, our focus remains on building secure, sustainable income to safeguard our work for decades to come. We enter the next financial year with determination, grateful for the compassion and support that has carried Lluest through its 40-year history and will continue to sustain us in the years ahead.
## **Trustees and officers**
The trustees and officers serving during the year were as follows:
Trustees: Carina Marie Dougherty (resigned 18 December 2024) Leah Sara Millinship (resigned 2 April 2024) Jennifer Margaret Nellist (resigned 31 May 2025) Chantal Dietlinde Cooke (resigned 31 May 2025) Susan Jueno (appointed 2 April 2024 and resigned 31 May 2025) Lauren Nicole Dawes (appointed 31 May 2025) Ann Slater (appointed 31 May 2025) Alison McMillan (appointed 31 May 2025) Senior Management / Leadership Dionne Schuurman, Operations Manager Team: Rhian Hubbart, Senior Equine Welfare Assistant
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of LLUEST HORSE AND PONY TRUST for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
Page 6
## **LLUEST HORSE AND PONY TRUST**
## **Trustees' Report**
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 2 December 2025 and signed on its behalf by:
A F Slater (Dec 2, 2025 17:17:31 GMT)
......................................... Ann Slater Trustee
Page 7
## **LLUEST HORSE AND PONY TRUST**
## **Independent Examiner's Report to the trustees of LLUEST HORSE AND PONY TRUST ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of LLUEST HORSE AND PONY TRUST as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 8
## **LLUEST HORSE AND PONY TRUST**
## **Independent Examiner's Report to the trustees of LLUEST HORSE AND PONY TRUST ('the Company')**
...................................... Simon Anthony Edmund Mannings Chartered Accountant ICAEW 226 Battersea Park Road London SW11 4ND
2 December 2025
Page 9
## **LLUEST HORSE AND PONY TRUST**
## **Statement of Financial Activities for the Year Ended 31 March 2025**
## **(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Other trading activities
4
Investment income
Total income
**Expenditure on:**
Charitable activities
5
Governance costs
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14|**Unrestricted**
**funds**
**£**
128,713
10,868
805
140,386
(151,083)
(7,836)
(158,919)
(18,533)
(18,533)
528,258
509,725|**Total**
**2025**
**£**
128,713
10,868
805
140,386
(151,083)
(7,836)
(158,919)
(18,533)
(18,533)
528,258
509,725|**Unrestricted**
**funds 2024**
**£**
172,986
17,861
-
190,847
(112,718)
(6,715)
(119,433)
71,414
71,414
456,844
528,258|**Total**
**2024**
**£**
172,986
17,861
-|
|---|---|---|---|---|
|||||190,847|
|||||(112,718)
(6,715)|
|||||(119,433)|
|||||71,414|
|||||71,414
456,844|
|||||528,258|
All of the charity's activities derive from continuing operations during the above two periods.
The total funds brought and carried forward includes land and buildings £448,740.
Page 10
## **LLUEST HORSE AND PONY TRUST**
## **(Registration number: 08359099) Balance Sheet as at 31 March 2025**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Stocks
10
Debtors
11
Cash at bank and in hand
12
**Creditors: Amounts falling due within one year**
13
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2025**
**£**
448,740
1,398
5,720
59,479
66,597
(5,612)
60,985
509,725
509,725
509,725|**2024**
**£**
450,591
1,398
6,667
76,697|
|---|---|---|
|||84,762
(7,095)|
|||77,667|
|||528,258|
|||528,258|
|||528,258|
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Page 11
## **LLUEST HORSE AND PONY TRUST**
## **(Registration number: 08359099) Balance Sheet as at 31 March 2025**
The financial statements on pages 10 to 23 were approved by the trustees, and authorised for issue on 2 December 2025 and signed on their behalf by:
A F Slater (Dec 2, 2025 17:17:31 GMT)
......................................... Ann Slater
Trustee
Page 12
## **LLUEST HORSE AND PONY TRUST**
## **Statement of Cash Flows for the Year Ended 31 March 2025**
|**Note**
**Cash flows from operating activities**
Net cash (expenditure)/income
**Adjustments to cash flows from non-cash items**
Depreciation
Investment income
**Working capital adjustments**
Increase in stocks
10
Decrease/(increase) in debtors
11
Decrease in creditors
13
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March|**2025**
**£**
(18,533)
1,851
(805)
(17,487)
-
947
(1,483)
(18,023)
805
(17,218)
76,697
59,479|**2024**
**£**
71,414
(7,469)
-|
|---|---|---|
|||63,945
(22)
(2,089)
(13,702)|
|||48,132
-|
|||48,132
28,565|
|||76,697|
All of the cash flows are derived from continuing operations during the above two periods.
Page 13
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: Beili Bedw Farm Llanddeusant Llangadog, Carmarthenshire SA19 9TG
These financial statements were authorised for issue by the trustees on 2 December 2025.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
LLUEST HORSE AND PONY TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The charity’s financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December each year, with the exception of [insert name of subsidiary], which is excluded from consolidation as it is held exclusively with a view to resale. [Name of subsidiary] is accounted for at cost less impairment. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Page 14
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Summary of disclosure exemptions**
LLUEST HORSE AND PONY TRUST meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements, which are presented alongside the consolidated financial statements. Exemptions have been taken in relation to financial instruments, presentation of a cash flow statement, intra-group transactions and remuneration of key management personnel..
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 15
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Plant and Machinery|20% on cost|
|Fixtures and Fittings|10% on cost|
|Computer Equipment|33.33% on cost|
Page 16
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 17
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Legacies
Donations from community groups
Grants, including capital grants;
Hilda Homes Trust donation|**Unrestricted**
**funds**
**General**
**£**
62,521
31,192
-
35,000
128,713|**Total**
**2025**
**£**
62,521
31,192
-
35,000
128,713|**Total**
**2024**
**£**
146,044
26,873
69
-|
|---|---|---|---|
||||172,986|
Page 18
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **4 Income from other trading activities**
|Trading income;
Sales of goods and services
Local fundraising and street collection income|**Unrestricted**
**funds**
**General**
**£**
10,868
-
10,868|**Total**
**funds**
**£**
10,868
-
10,868|**Total**
**2024**
**£**
15,253
2,608|
|---|---|---|---|
||||17,861|
## **5 Expenditure on charitable activities**
|**Note**
Allocated support costs
Governance costs|**Unrestricted**
**funds**
**General**
**£**
151,083
7,836
158,919|**Total**
**2025**
**£**
151,083
7,836
158,919|**Total**
**2024**
**£**
112,718
6,715|
|---|---|---|---|
||||119,433|
The unrestricted fund's activity is the care and protection of equines.
Governance costs are the accounting fees incurred in the year.
Page 19
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **6 Net incoming/outgoing resources**
Net (outgoing)/incoming resources for the year include:
Depreciation of fixed assets
|**2025**
**£**
1,851|**2024**
**£**
(7,469)|
|---|---|
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Donations made by the trustees without any conditions attached totalled £Nil for the year (2024 - £12,812).
## **8 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **9 Tangible fixed assets**
|**Cost**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024|**Land and**
**buildings**
**£**
448,740
448,740
-
-
-
448,740
448,740|**Plant and**
**Machinery**
**£**
63,320
63,320
61,469
1,851
63,320
-
1,851|**Computer**
**equipment**
**£**
2,404
2,404
2,404
-
2,404
-
-|**Fixtures and**
**Fittings**
**£**
9,258
9,258
9,258
-
9,258
-
-|**Total**
**£**
523,722
523,722
73,131
1,851
74,982
448,740
450,591|
|---|---|---|---|---|---|
Page 20
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **Impairment**
## **Land and buildings**
The freehold property known as Lluest Horse & Pony Trust, Beili Bedw Farm, Llanddeusant, Llangadog, Carmarthenshire SA 19 9TG was valued independently by Syrfewr JED Cyf, 50 Rhosmaen Street, Llandeilo, SA19 6HA in March 2016.
The professional valuation was estimated at £435,000. The trustees agreed to impair the freehold property, including improvements, in line with this valuation. An adjustment was made in the Financial Statements in the year ended 31 March 2016. Further costs have been incurred since this date which have enhanced the value of the freehold property.
The trustees consider the value of freehold property, including improvement to be the fair value of the assets.
The trustees will continue to consider impairment on an annual basis.
## **10 Stock**
Stocks
|**2025**|**2024**|
|---|---|
|**£**|**£**|
|1,398|1,398|
Page 21
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
|**11 Debtors**
Trade debtors
Prepayments
Other debtors
**12 Cash and cash equivalents**
Cash on hand
Cash at bank
**13 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals|**2025**
**£**
-
20
5,700
5,720
**2025**
**£**
1,052
58,427
59,479
**2025**
**£**
-
-
1,074
4,538
5,612|**2024**
**£**
947
20
5,700|
|---|---|---|
|||6,667|
|||**2024**
**£**
1,102
75,595|
|||76,697|
|||**2024**
**£**
1,484
679
394
4,538|
|||7,095|
|**14 Funds**||||
|---|---|---|---|
||**Balance at 1**|**Resources**|**Balance at 31**|
||**April 2024**|**expended**|**March 2025**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|**_General_**||||
|General fund|528,258|(18,533)|509,725|
Page 22
## **LLUEST HORSE AND PONY TRUST**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
||**Balance at 1**|**Incoming**|**Balance at 31**|
|---|---|---|---|
||**April 2023**|**resources**|**March 2024**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|**_General_**||||
|General fund|456,844|71,414|528,258|
The funds brought and carried forward includes the valuation of the land and buildings £448,740.
## **15 Related party transactions**
During the year the charity made the following related party transactions:
In the year to 31 March 2025, there were no donations made by the Trustees (2024: £12,182). There were no amounts owed to or from the charity by or from any related parties at 31 March 2025.
Page 23
## **LLUEST HORSE AND PONY TRUST**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Total income
**Expenditure on:**
Charitable activities (analysed below)
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2025**
**£**
128,713
10,868
805
140,386
(158,919)
(158,919)
(18,533)
(18,533)
528,258
509,725|**Total**
**2024**
**£**
172,986
17,861
-|
|---|---|---|
|||190,847|
|||(119,433)|
|||(119,433)|
|||71,414|
|||71,414
456,844|
|||528,258|
The Funds Brought and Carried forward includes the valuation of land and buildings £448,740.
This page does not form part of the statutory financial statements. Page 24
## **LLUEST HORSE AND PONY TRUST**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|**_Donations and legacies_**
Grants - other agencies
Donations from individuals
Legacies
Wayleaves
**_Other trading activities_**
Fund raising events
Sale of Merchandise
Other income
**_Investment income_**
Interest on cash deposits
**_Charitable activities_**
Depreciation of plant and machinery
Wages and salaries
Purchases
Feed and bedding
Veterinary and medicines
Tractor and Transport
Fundraising costs
Farrier
Bank charges
Staff pensions (Defined contribution) - pension scheme 1
Subcontract cost
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Computer software and maintenance costs|**Total**
**2025**
**£**
35,000
62,521
31,192
-
128,713
-
10,868
-
10,868
805
805
(1,851)
(93,967)
10
(13,682)
(10,030)
-
(77)
-
(327)
(5,180)
(857)
(2,536)
(4,919)
(6,223)
(1,606)
(1,593)
(275)|**Total**
**2024**
**£**
-
146,044
26,873
69|
|---|---|---|
|||172,986|
|||2,608
14,981
272|
|||17,861|
|||-|
|||-|
|||5,716
(76,650)
(2,894)
(4,156)
(7,654)
(2,841)
(1,699)
(1,830)
(449)
(3,799)
-
(2,523)
(1,853)
(2,010)
(1,490)
(1,425)
(816)|
This page does not form part of the statutory financial statements. Page 25
## **LLUEST HORSE AND PONY TRUST**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|Printing, postage and stationery
Trade subscriptions
Sundry expenses
Fundraising regulator charges
Motor expenses
Travel and subsistence
Advertising
Consulting
**_Governance Costs_**
Accountancy fees
Accountancy fees|**Total**
**2025**
**£**
(2,491)
(469)
(583)
-
(2,314)
-
-
(2,113)
(151,083)
(7,836)
-
(7,836)|**Total**
**2024**
**£**
(3,817)
(266)
(578)
(50)
(83)
(500)
(1,051)
-|
|---|---|---|
|||(112,718)|
|||-
(6,715)|
|||(6,715)|
This page does not form part of the statutory financial statements. Page 26
## Lluest Horse + Pony Trust 31-03-2025 full accounts
## Final Audit Report
2025-12-02
Created: 2025-12-02 By: Simon Mannings (simon@ridgewayaccounting.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAEU6m2qjADYnFO4SrOspCJk_1vulBzATh
## "Lluest Horse + Pony Trust 31-03-2025 full accounts" History
- Document created by Simon Mannings (simon@ridgewayaccounting.co.uk)
2025-12-02 - 5:10:25 PM GMT
Document emailed to Ann Slater (chair@lluesthorseandponytrust.co.uk) for signature
2025-12-02 - 5:10:30 PM GMT
Document emailed to Simon Mannings (simon@ridgewayaccounting.co.uk) for signature 2025-12-02 - 5:10:30 PM GMT
- Email viewed by Ann Slater (chair@lluesthorseandponytrust.co.uk)
2025-12-02 - 5:11:08 PM GMT
- Email viewed by Simon Mannings (simon@ridgewayaccounting.co.uk)
- 2025-12-02 - 5:14:55 PM GMT
- Document e-signed by Simon Mannings (simon@ridgewayaccounting.co.uk)
Signature Date: 2025-12-02 - 5:15:05 PM GMT - Time Source: server
- Signer Ann Slater (chair@lluesthorseandponytrust.co.uk) entered name at signing as A F Slater 2025-12-02 - 5:17:29 PM GMT
- Document e-signed by A F Slater (chair@lluesthorseandponytrust.co.uk) Signature Date: 2025-12-02 - 5:17:31 PM GMT - Time Source: server
## Agreement completed.
2025-12-02 - 5:17:31 PM GMT