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2023-05-31-accounts

Charity number: 1154316

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Unaudited

Trustees' report and financial statements

for the year ended 31 May 2023

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 22

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 May 2023

Trustees

Mrs Josaine Murrell BHSAI, Chair Mrs Kim Finch Mr Paul Brisley

Charity registered number

1154316

Principal office

Mount Ararat Abbey Road Hougham Kent CT15 7DJ

Secretary

Amanda Glasspole

Accountants

Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU

Independent Examiner

M Dyer Kreston Reeves LLP 37 St Margarets Street Canterbury CT1 2TU

Page 1

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report for the year ended 31 May 2023

The Trustees present their annual report together with the financial statements of the Charity for the year from 1 June 2022 to 31 May 2023.

Objectives and activities

a. Policies and objectives

The Alkham Valley Community Project is a registered charity. The objects of the Charity are:

a) To provide therapeutic horse riding, carriage driving and educational activities for disabled and disadvantaged adults and children to promote their health and wellbeing.

b) To promote community participation in healthy recreation by the provision of facilities to learn skills related to horse riding and carriage driving.

c) To promote the objects of the Riding for Disabled Association including carriage driving (charity number 244108).

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Our Aims

The AVCP is committed to making horses and equine based activity accessible to the whole community. The trustees understand that barriers may be physical (in regard to disability), financial (families from low income families unable to afford participant contributions) or social (perception of equestrian sport as elitist for example). Potential clients might also face barriers due to mental health issues, social isolation or chaotic home lives. To overcome barriers to participation the charity seeks external funding to provide specialist equipment and facilities, deliver projects and sessions, and ensure that staff training is of the highest standard.

We create a range of opportunities in a safe, inclusive environment, focussing on developing skills and boosting self-esteem. We recognise that achievement comes in many forms and always strive to celebrate progress for all clients.

We are located close to several areas of high socio-economic deprivation and work to engage with those members of the community who might otherwise find equine based activity inaccessible.

c. Activities undertaken to achieve objectives

1) Therapeutic

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report (continued) for the year ended 31 May 2023

Objectives and activities (continued)

2) Promoting Community Participation

The members of the management committee during the year were as follows:

Chair Jo Murrell Treasurer Kim Finch Trustee Paul Brisley

d. Public benefit

The Trustees consider that the activities, summarised above, provide benefit both to those who directly receive services, and the wider community.

The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published the Charity Commission.

Achievements and performance

a. Year Achievements

Activities progressed through the year as we overcame a series of disturbances, a high level lesson cancelations due to Covid, icy and bad weather in the winter months and considerable disruption caused by traffic delays at The Port of Dover which bought roads in Dover and surrounding areas to a standstill.

Aware of the beneficial outcomes achieved by participants of our ongoing Holiday Activities and Food Programme (HAF) . We increased the number of young people taking part to 40 each day. The project ran well with the development of forest school activities alongside the equestrian. The AVCP enlisted the help of professional forest school providers who utilized the AVCP woodland to good effect. Essential improvements to the cooking and canteen facilities were achieved this year with funding support.

The trustees are pleased that participation from local schools has increased over the year. Weekly riding sessions are well attended. Local schools also have the option of taking part in the AVCP War Horse events. Teacher and pupil feedback is very encouraging. Pupils from specialist schools have worked towards Riding for the Disabled Proficiency Levels and awards . It’s a pleasure to see how excited riders are to receive their certificates and rosettes. The Friday afternoon and Tuesday morning RDA sessions continue to be in high demand and our thanks go to the volunteers that give their time to assist and make these sessions possible. Our competitive RDA riders begin their equestrian adventure with one of our riders qualifying for the RDA National Championship at Hartpury in July 2023 in Gloucestershire.

The charity provided a demonstration of RDA carriage driving at the Kent County Showground . The display went well and the family of the driver gave much support, clapping and cheering in the audience.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report (continued) for the year ended 31 May 2023

Achievements and performance (continued)

Our weekly sessions ran 6 days a week 10am-7pm with riders from 5years to 80years taking part. The trustees understand the improvement to health and wellbeing to be gained from learning new skills and being physically active. Being in a countryside setting and interacting socially with others is valuable for many too. The AVCP also provided half day 1:1 activities for young people referred by social workers and other professional bodies.

The AVCP increased the number of training clinics and events at the yard. These events encourage ambition in all our riders and provide a useful source of unrestricted funds.

Last year the charity launched a new activity called Cavalry Club . This club continues and aims to build skills and increase the confidence of young people who hope to volunteer their time at the AVCP. Activities include an advanced riding lesson and stable management lessons. Club sessions run at a subsidised cost for those taking part. The numbers of young volunteers on Saturdays and during school holiday activities have grown and importantly these helpers now have increased skills and a better understanding of the responsibilities involved in being an assistant.

AVCP’S own Cait Byrne was interviewed on Academy FM Radio in their A-Z on local sports. .Cait represented E for Equestrian and by all accounts her talk was brilliant and inspiring.

After being inspected the AVCP retained the 5 star level of riding school licence . In addition, the kitchen also received a 5 star hygiene rating .

The AVCP team took part in the RDA Fancy Dress class at Royal Windsor Horse Show and won the class.

The AVCP took part in the RDA regional championship and were thrilled when our rider won her class and a huge trophy for the highest dressage score of the day.

As stakeholders will be aware, the economic climate has been particularly difficult. Increases in cost of living have had an impact for most, if not all, of our clients, and we know that many people have been forced to cut back on leisure activities. Increases to utility costs have also had a direct impact on ourselves as a business. We have made several changes to our way of running in order to counteract this downturn. We have made efficiency savings by changing our timetable and adjusting staff hours to reduce wage costs and have introduced a new online booking system which means all lessons are paid for in advance. The online system also requires less admin hours, and the trustees look forward to using a greater amount of office time to concentrate on planning charitable activities and fundraising.

We have also been impacted by a particularly long and difficult winter; this has meant that horse feed costs have been higher due to inability to turn horses out to graze.

However as the new year starts we are pleased to see that in February 2024 registrations for new riders are increasing and bookings are set to increase month-on-month.

We continue to provide projects which meet our charitable objectives via various sources of funding, and have developed several new partnerships with local schools, Age Uk and other partners.

To reduce costs, we will implement several strategies:

  1. Scaling Back Assets: We plan to sell some of our current ponies, aided by the growth of our working livery program. This allows us to maintain a balance, ensuring we don't lose ponies entirely from the charity while reducing our overall expenses. It's important to note that this will not impact our ability to conduct sessions

  2. Streamlining Sessions: We will continue to streamline and diversify our sessions while accommodating an increase in rider numbers. This will help reduce staffing costs while maintaining the quality and effectiveness of our programmes.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report (continued) for the year ended 31 May 2023

Achievements and performance (continued)

  1. Focus on Grants and Fundraising: With our administrative staff freed from at least 70% of managing sessions and credit control duties, we will concentrate on securing appropriate grants and organising fundraisers. Our forecast for 2024/2025 anticipates £70,000 in grants. These grants will target running costs, and areas such as water and electricity expenses, effectively reducing our running costs as we transition to a more eco-friendly charity.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The trustees are confident that decisions made to support the charity through bounce back loans and recovery loans were prudent and that repayments are manageable long term. The improvements made to facilities are increasing capacity, staff and all horses are essential to deliver the sessions.

During the period, the funds position was reviewed in detail. It was identified that a number of the restricted funds had been fully utilised historically, by way of purchasing assets such as ponies, and it was felt that carrying balances on these funds as the asset was depreciated was not a true reflection on the use of these funds. As such, the balances on the restricted funds were transferred to general funds, to recognise the full utilisation on purchase of the assets.

The Trustees acknowledge that the ongoing reserve level is below the target level and will continue to work towards increasing income and controlling expenditure where that can be achieved without compromising our charitable aims.

c. Grants and Donations

The charity received grants for the delivery of Holiday Activity and Food Programme which aims to provide school holiday support for children and young people in receipt of benefits related free school meals. These projects ran at Easter, summer, and Christmas.

The trustees were very pleased to receive a grant from Colyer Fergusson to cover costs over the next three years with this accounting year being the first year.

Kent Community Foundation awarded the AVCP the Known Organisation Grant to support core costs. A very welcome grant however once in receipt of the fund the charity is not able to apply for more funding streams through Kent Community Foundation.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report (continued) for the year ended 31 May 2023

Grants

Feb 22 £818.57 Known Organisation grant Kent Community Foundation Feb 22 £3500.00 Holiday Activities and Food April 22 £2745.00 Holiday Activities and Food May 22 £915.00 Holiday Activities and Food June 22 £9760.00 Holiday Activities and Food Aug 22 £12,000.00 Colyer Fergusson Oct 22 £15000.00 Wooden Spoon Charity Oct 22 £4880.00 Holiday Activities and Food Dec 22 £2745.00 Holiday Activities and Food Dec 22 £180.00 Holiday Activities and Food Jan 23 £8500.00 Known Organisations grant Kent Community Foundation

Donations

Our thanks go to the Inner wheel, Coop Community Fund, Mrs C Froy and J Mozley for their donations to the AVCP.

d. Results for the year

The Charity has made a deficit on its restricted funds of £101,968, and a surplus on its unrestricted funds of £54,031, giving a total deficit in this financial year of £47,937 (2022: £53,832).

This has led to the closing level of funds decreasing to £81,711 (2022: £129,648) at the Balance sheet date, of which £3,000 are restricted funds and £78,711 are unrestricted funds.

Structure, governance and management

a. Constitution

The Alkham Valley Community Project and Therapeutic Riding Centre CIO is a registered charity, number 1154316 and is constituted under its Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The Trustees will continue to support the activities of the Charity for the foreseeable future.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Trustees' report (continued) for the year ended 31 May 2023

Statement of Trustees' responsibilities

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 which give a true and fair view of the state of affairs of the Charity and of its income and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 2011, 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Jo Murrell Chair Date:

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Independent examiner's report

for the year ended 31 May 2023

Independent examiner's report to the Trustees of The Alkham Valley Community Project and Therapeutic Riding Centre CIO ('the Charity')

I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Signed: Mike Dyer Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU

Dated: ACCA MAAT

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Statement of financial activities for the year ended 31 May 2023

Note
Income from:
Donations and legacies
3
Other trading activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net expenditure
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
15,000
-
15,000
23,221
23,221
(8,221)
(93,747)
(101,968)
104,968
(101,968)
3,000		 Unrestricted
funds
2023
£
54,913
204,752
259,665
299,381
299,381
(39,716)
93,747
54,031
24,680
54,031
78,711		 Total
funds
2023
£
69,913
204,752
274,665
322,602
322,602
(47,937)
-
(47,937)
129,648
(47,937)
81,711		 Total
funds
2022
£
57,109
204,210
261,319
315,151
315,151
(53,832)
-
(53,832)
183,480
(53,832)
129,648

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 22 form part of these financial statements.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Balance sheet as at 31 May 2023

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
10
Net assets
Charity funds
Restricted funds
11
Unrestricted funds
11
Total funds		 88
101
189
(27,485)		 2023
£
168,660
(27,296)
141,364
(59,653)
81,711
3,000
78,711
81,711		 614
8,497
9,111
(25,766)		 2022
£
197,742
(16,655)
181,087
(51,439)
129,648
104,968
24,680
129,648

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Jo Murrell Chair Date:

The notes on pages 11 to 22 form part of these financial statements.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

1. General information

The Alkham Valley Community Project And Therapeutic Riding Centre CIO is a charitable incorporated organisation in England and Wales, with the charity registration number 1154316. The address of the registered office is Mount Ararat, Abbey Road, Hougham, Dover, CT15 7DJ. The principal aims and objectives of the Charity are disclosed within the Trustees Report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Alkham Valley Community Project and Therapeutic Riding Centre CIO 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.

The financial statements are presented in British Sterling and rounded to the nearest Pound.

The Alkham Valley Community Project and Therapeutic Riding Centre CIO 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.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees makes this assessment in respect of a period of at least one year from the date of authorisation of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

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 income receivable can be measured reliably.

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. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Charitable activities are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity.

All expenditure is inclusive of irrecoverable VAT.

2.5 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvement works - 10% Straight line
Motor vehicles - 25% Straight line
Fixtures and fittings - 20% Straight line
Horses - 10% Straight line

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

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 Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

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Notes to the financial statements for the year ended 31 May 2023

2. Accounting policies (continued)

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Fund accounting

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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Donations
Grants
Total 2022		 Restricted
funds
2023
£
-
15,000
15,000
20,240		 Unrestricted
funds
2023
£
54,913
-
54,913
36,869		 Total
funds
2023
£
54,913
15,000
69,913
57,109		 Total
funds
2022
£
36,869
20,240
57,109

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

4. Fundraising Income

Sessions
Total 2022		 Unrestricted
funds
2023
£
204,752
204,210		 Total
funds
2023
£
204,752
204,210		 Total
funds
2022
£
204,210

5. Charitable activities

Animal care
Insurance
Farrier
Vet
Sub contract labour
Other
Repairs and maintenance
Motor vehicle expenses
Training
Bank charges
Telephone and utilities
Accountancy fees
Loss on disposal on fixed assets
Interest payable
Depreciation		 Restricted
funds
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23,221
23,221		 Unrestricted
funds
2023
£
47,656
5,871
7,148
4,484
-
11,556
12,406
7,022
1,240
7,286
9,458
2,633
(4,516)
1,379
24,409
138,032		 Total
funds
2023
£
47,656
5,871
7,148
4,484
-
11,556
12,406
7,022
1,240
7,286
9,458
2,633
(4,516)
1,379
47,630
161,253		 Total
funds
2022
£
47,544
4,708
7,073
2,686
150,137
10,302
18,331
6,772
4,047
3,067
11,216
3,090
(8,362)
1,479
53,061
315,151

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements

for the year ended 31 May 2023

6. Trustees' remuneration and expenses

During the year, one Trustee received remuneration of £7,620 (2022: £4,120).

During the year ended 31 May 2023, expenses totalling £331 were reimbursed or paid directly to 2 Trustees (2022 - £NIL to Trustee).

7. Tangible fixed assets

Cost or valuation
At 1 June 2022
Additions
Disposals
At 31 May 2023
Depreciation
At 1 June 2022
Charge for the year
On disposals
At 31 May 2023
Net book value
At 31 May 2023
At 31 May 2022		 Improvemen
t Works
£
237,704
18,995
-
256,699
135,903
21,632
-
157,535
99,164
101,801		 Motor
vehicles
£
19,800
-
-
19,800
10,864
3,437
-
14,301
5,499
8,936		 Fixtures and
fittings
£
86,691
-
-
86,691
50,341
12,328
-
62,669
24,022
36,350		 Horses
£
105,486
19,050
(21,203)
103,333
54,831
10,233
(1,706)
63,358
39,975
50,655		 Total
£
449,681
38,045
(21,203)
466,523
251,939
47,630
(1,706)
297,863
168,660
197,742

8. Debtors

Prepayments and accrued income 2023
£
88
88		 2022
£
614
614

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

9. Creditors: Amounts falling due within one year

Bank overdrafts
Bank loans
Other loans
Other creditors
Accruals and deferred income		 2023
£
139
12,571
10,214
2,000
2,561
27,485		 2022
£
-
8,292
15,146
-
2,328
25,766

10. Creditors: Amounts falling due after more than one year

Bank loans
Other loans		 2023
£
59,653
-
59,653		 2022
£
51,001
438
51,439

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

11. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Racewood Mechanical Riding
Simulator
General funds
General Funds
Total Unrestricted funds
Restricted funds
Woodenspoon - Kitchen
Peter Harrison
Greggs
Clothworkers
Carriage Fund
Go cardless
Woodenspoon
Get on board
Kent Community Foundation
RDA UK
Big Lottery Covid-19 Response
- Interactive Simulator
Riding Arena Fund
Dolphin Hoist Fund
The ACT Foundation
The Thomas Bailey Charitable
Fund
Total of funds		 Balance at 1
June 2022
£
3,780
20,900
24,680
-
9,439
100
1,663
1,260
368
5,988
400
10,060
5,212
16,170
47,381
777
3,150
3,000
104,968
129,648		 Income
£
-
259,665
259,665
15,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
274,665		 Expenditure
£
(1,260)
(298,121)
(299,381)
(1,500)
(1,732)
(100)
(693)
(755)
(184)
(2,994)
(200)
(280)
(100)
(5,390)
(7,991)
(777)
(525)
-
(23,221)
(322,602)		 Transfers
in/out
£
-
93,747
93,747
(13,500)
(7,707)
-
(970)
(505)
(184)
(2,994)
(200)
(9,780)
(5,112)
(10,780)
(39,390)
-
(2,625)
-
(93,747)
-		 Balance at
31 May 2023
£
2,520
76,191
78,711
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,000
3,000
81,711

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

11. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Racewood Mechanical Riding Simulator
General funds
General Funds
Total Unrestricted funds
Restricted funds
Headley fund
Awards for all
Inspired
Peter Harrison
Greggs
Clothworkers
Own a Pony
Carriage Fund
Go cardless
Woodenspoon
Get on board
Kent Community Foundation
RDA UK
Big Lottery Covid-19 Response - Interactive
Simulator
Riding Arena Fund
Dolphin Hoist Fund
The ACT Foundation
The Thomas Bailey Charitable Fund
Total of funds		 Balance at
1 June 2021
£
5,040
46,282
51,322
200
627
3,660
12,351
200
2,356
-
2,015
552
8,982
600
10,340
4,912
21,560
55,572
1,556
3,675
3,000
132,158
183,480		 Income
£
-
241,079
241,079
-
-
-
-
-
-
19,240
-
-
-
-
-
1,000
-
-
-
-
-
20,240
261,319		 Expenditure
£
(1,260)
(266,461)
(267,721)
(200)
(627)
(3,660)
(2,912)
(100)
(693)
(19,240)
(755)
(184)
(2,994)
(200)
(280)
(700)
(5,390)
(8,191)
(779)
(525)
-
(47,430)
(315,151)		 Balance at
31 May 2022
£
3,780
20,900
24,680
-
-
-
9,439
100
1,663
-
1,260
368
5,988
400
10,060
5,212
16,170
47,381
777
3,150
3,000
104,968
129,648

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28/3/2024 11:58 The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements

for the year ended 31 May 2023

11. Statement of funds (continued)

Designated funds

Racewood Mechanical Riding Simulator - After receiving a Big Lottery Covid-19 Response grant to finance the purchase of a new mechanical horse, the Charity decided to upgrade the spec. of this asset, and so set aside £6,300 to finance this upgrade. This cost has been added to the fixed assets and is being depreciated. The above balance represents the designated element of the net book value.

Restricted funds

Headley Fund - Money received towards the new cabin and clubroom, this has been added to the fixed assets and is being depreciated. The balance above represents the net book value, which was fully depreciated at the end of the 2022 financial year.

Awards for all - A grant received for new equipment and Avery, this has been added to the fixed assets and is being depreciated. The balance above represents the net book value, which was fully depreciated at the end of the 2022 financial year.

Inspired - Grant towards the improvements to the sand school arena and surrounding areas, this has been added to the fixed assets and is being depreciated. The balance above represents the net book value, which was fully depreciated at the end of the 2022 financial year.

Sported - Grant received towards equipment and riding sessions, the balance remaining relates to the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Peter Harrison - Grant received towards the cost of installing a roof over the existing outdoor riding arena. The asset is being depreciated and the above value represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Greggs - A grant received towards the purchase of two sets of harnesses, this expense has been added to the fixed assets and is being depreciated. The value above represents the net book value, which was fully depreciate at the end of the 2023 financial year.

Clothworkers - A grant received towards the cost of harnesses and carriages, this expense has been added to the fixed assets and is being depreciated. The value above represents the net book value, together with a balance of £970 which at the year end had not yet been spent. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Carriage Fund - A number of grants received from Kent County Council, Santander & Ashford Borough Council to help purchase new carriages. The assets are being depreciated and the balance above represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Go cardless - A fundraising activity towards the cost of two donkeys. The assets are depreciated and the balance sheet above represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Woodenspoon - A grant received for the construction of a stable block for a therapy yard. This cost has been added to the fixed assets and is being depreciated. This balance represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

11. Statement of funds (continued)

Get On Board - A grant received towards the cost of constructing a wheelchair accessible mounting block, to enable people who could not previously mount a horse, do so for the first. This cost has been added to the fixed assets and is being depreciated. The above balance represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Kent Community Foundation - A grant received for small equipment purchased, with the balance representing the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

RDA UK - A grant received to purchase new equipment for riding, such as saddles, which has been added to the fixed assets and is being depreciated. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Big Lottery Covid-19 Response - Interactive Simulator - A grant received to finance the purchase of a new mechanical horse. This cost has been added to the fixed assets and is being depreciated. The above balance represents the restricted element of the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Riding Arena Fund - A number of grants received from Raise the Roof, Dover District Council, LEADER, ScrewFix Foundation and the Pack Family Endowment to help with the New All-Weather Riding Arena which has been added to the fixed assets and is being depreciated. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

Dolphin Hoist Fund - A grant received for the purchase of a Floor & Wall Mounted Hoist. This cost has been added to the fixed assets and is being depreciated. The above balance represents the net book value, which was fully depreciated at the end of the 2023 financial year.

The ACT Foundation - A grant received from the ACT Foundation to help support ongoing facility improvements. The above balance represents the net book value of the assets. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

The Thomas Bailey Charitable Fund - A grant received towards the purchase of a wheelchair carriage. The money had not been spent as at the year end and the balance will be carried forward until the carriage is purchased.

Own a Pony - A number of grants recieved from Kent County Council and the Port of Dover, to cover the costs of Own a Pony Days, meaning the children are able to take part free of charge. The funds recieved were fully utilised in the 2022 financial year.

Woodenspoon - kitchen - A grant recieved towards the renovation of the kitchen area. The above balance represents the net book value. During the period, it was agreed that as the money had been fully utilised on purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end.

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

12. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
June 2022
£
3,780
20,900
104,968
129,648		 Income
£
-
259,665
15,000
274,665		 Expenditure
£
(1,260)
(298,121)
(23,221)
(322,602)		 Transfers
in/out
£
-
93,747
(93,747)
-		 Balance at
31 May 2023
£
2,520
76,191
3,000
81,711

Summary of funds - prior year

Designated funds
General funds
Restricted funds		 Balance at
1 June 2021
£
5,040
46,282
132,158
183,480		 Income
£
-
241,079
20,240
261,319		 Expenditure
£
(1,260)
(266,461)
(47,430)
(315,151)		 Balance at
31 May 2022
£
3,780
20,900
104,968
129,648

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2023
£
-
3,000
-
-
3,000		 Unrestricted
funds
2023
£
168,660
(2,811)
(27,485)
(59,653)
78,711		 Total
funds
2023
£
168,660
189
(27,485)
(59,653)
81,711

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The Alkham Valley Community Project and Therapeutic Riding Centre CIO

Notes to the financial statements for the year ended 31 May 2023

13. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2022
£
78,971
25,997
-
-
104,968		 Unrestricted
funds
2022
£
118,771
(16,886)
(25,766)
(51,439)
24,680		 Total
funds
2022
£
197,742
9,111
(25,766)
(51,439)
129,648

14. Related party transactions

During the year, the charity received cumulative donations of £210 from the Trustees (2022: £750).

During the period, the charity received a loan of £4,215 from Ms J Murrell, a Trustee (2022: £12,520). The charity made repayments on the loan of £6,960 (2022: £Nil) during the period. At the year end, the total outstanding was £9,775 (2021: £12,520). The loan is interest free and repayable on demand.

The Charity has not entered into any other related party transactions during the year (2022 - £Nil).

Page 22