Charity number: 1154316
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Unaudited
Trustees' report and financial statements
For the year ended 31 May 2024
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 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 21 |
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 2024
| Trustees | Mrs Josaine Murrell BHSAI, Chair |
|---|---|
| Mrs Kim Finch | |
| Mr Paul Brisley | |
| Ms Amanda Glasspole (appointed 16 March 2024) | |
| Charity registered number 1154316 Registered 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
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Trustees' report For the year ended 31 May 2024
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 June 2023 to 31 May 2024.
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 horse riding and equine based activity accessible to the whole community. The trustees understand that barriers to participation may be physical (in regard to disability), financial, (lowincome families unable to afford participant contributions) or social (perception of equestrian sport as elitist).
Potential clients might also face barriers due to mental health issues, social isolation or chaotic home lives. To negate such barriers to participation the charity seeks external funding support for capital projects to provide specialist equipment and accessible facilities, and revenue funding to safeguard the charity’s ability to offer subsidised activities.
c. Activities undertaken to achieve objectives
1) Therapeutic
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Disability horse riding sessions for adults and children using the movement of the horse, which is rhythmic and repetitive, to aid physical development, build core strength, improve balance and stimulate the senses.
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Regular weekly sessions for pupils from specialist schools. Pupils working towards RDA proficiency levels.
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• Learning about horse care, developing skills and knowledge required to build a relationship with a horse to benefit those with mental health, confidence and social anxiety issues. (Carriage driving has not been running during this period)
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Countryside Project, improving access to the fields and woods onsite and holding events which encourage people of all abilities to get out into the fresh air, and interact with nature and the countryside to benefit participant health and wellbeing.
Page 2
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Trustees' report (continued) For the year ended 31 May 2024
Objectives and activities (continued)
2) Promoting Community Participation
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Riding lessons on Saturdays and after school weekly horse-riding sessions for children and young people of all abilities from 5 to 19 years old.
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Adult Riding Lessons promoting horse riding as a healthy recreation for adult riders of all abilities. Lessons are fun and suitable for all levels of riding ability.
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Adult Riding Lessons promoting horse riding as a healthy recreation for adult riders.
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Regular term time riding lessons for mainstream schools and school enrichment events such as our War Horse Day which adds knowledge and experience for young people reading the novel as part of their curriculum.
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Volunteering opportunities for adults and young people. The Trustees recognise that volunteering is a positive and beneficial activity
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Promotional events to engage with inactive members of the community and encourage new participation by providing taster sessions, open days, and short-term summer special events.
The members of the management committee during the year were as follows:
Chair Jo Murrell Treasurer Kim Finch Trustee Paul Brisley Trustee Amanda Glasspole
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
The AVCP ran the Holiday Activity and Food Programme HAF during the school holidays. Although an expensive project to deliver the positive outcomes for young people are apparent. We collected participant, carer, parent feedback which tell us that the benefits of taking part are significant.
A Holiday Club also ran in the school holidays, the project was funded by Dover District Council Cost of Living Fund and ran alongside our Own a Pony Days . The grant enabled young people living in Dover to take part in our activities at a subsidised cost.
Our weekly sessions ran 5 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 sessions for young people referred by social workers and other professional bodies.
The trustees were very pleased to receive a donation of a set of show jumps from the Canterbury Riding Club. The jumps have been put to good use during our regular sessions as well as a series of special events.
The AVCP hosted a fundraising educational workshop presented by Kent Wildlife Trust. This was attended by vets, farmers and other professional from Kent. The subjects covered were pasture management and the importance of biodiversity in particular encouraging dung beetle numbers.
Page 3
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Trustees' report (continued) For the year ended 31 May 2024
Achievements and performance (continued)
Cavalry Club continued to run weekly during the year providing riding lessons and horse care. These sessions are a subsidised project which promotes the skills and understanding required to prepare participants to undertake volunteering opportunities. The trustees recognise that young volunteers gain skills such as team spirit, reliability, punctuality, increased self-confidence, and self-discipline.
July 23 saw volunteers, RDA coaches, horses and riders head off to the Riding for the Disabled National Championships at Hartpury College in Gloucestershire. This took a giant amount of effort from all concerned and again our congratulations go to riders who performed with confidence and cool heads. Excellent results were achieved.
In the Autmn the indoor arena proved to be essential as the trustees were able to host a series of special events no matter the weather. These events kept the timetable busy and entries generated a useful source of funding.
January 2024 The AVCP worked in partnership with Age UK SE Coast and provided horse riding taster sessions for riders over 55 years. A second event was held in April.
Our sessions for the Dover District Council Inspire fund continue to run and we are always pleased to see new faces from this much needed project.
In April AVCP staff took part in First Aid training which we held at the stables. Certificates are now displayed in the office.
May saw another outing for volunteers, RDA coaches, horses and riders, this time to the RDA Regional Qualifier held at Hickstead in Sussex. The scores achieved meant that riders qualified to take part at the Nationals 2024 at Hartpury.
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 the COVID pandemic through implementing bounce back recovery loans are manageable long term. The improvements made to facilities are increasing capacity. 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. In addition the AVCP successfully applied to the Dover District Council Cost of Living grant which supported the costs of eligible young people from the Dover who took part in Own a Pony days during the school holidays.
The trustees were very pleased to receive a grant from Colyer Fergusson Charitable Trust to cover costs over the next three years with this accounting year being the second year.
Kent Community Foundation awarded the AVCP the Known Organisation Grant now referred to as the Annual Grant to support core costs.
Page 4
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Trustees' report (continued) For the year ended 31 May 2024
Grants
June 23 £3000.00 Known Organisation/Annual Grant Kent Community Foundation
July 23 £2440.00 Holiday Activities and Food Programme
July 23 £10,000.00 Colyer Fergusson Charitable Trust.
Aug 23 £1220.00 Holiday Activities and Food Programme Sept 23 £1220.00 Holiday Activities and Food Programme Oct 23 £625.20 Holiday Activities and Food Programme Oct 23 £976.00 Holiday Activities and Food Programme Dec 23 £915.00 Holiday Activities and Food Programme
Dec 23 £2000.00 Dover District Council
Feb 24 £305.00 Holiday Activities and Food Programme
March 24 £5000.00 Known Organisations/Annual Grant Kent Community Foundation
April 24 £915 Holiday Activities and Food Programme
April 24 £5000.00 Known Organisations/Annual Grant Kent Community Foundation
May 24 £366.00 Holiday Activities and Food Programme
May 24 £305.00 Holiday Activities and Food Programme
May 24 £45.76 Holiday Activities and Food Programme
Donations
The charity received an increased number of donations of horse rugs, saddlery and equine related equipment and our thanks go out to all who bought their donations along. All equipment that we couldn’t use has been sold to raise funds. Our thanks also go to Mrs C Froy and J Mozley for their regular donations to the AVCP.
d. Results for the year
The Charity has made a surplus on its restricted funds of £9,333, and a deficit on its unrestricted funds of £27,236, giving a total deficit in this financial year of £17,903 (2023: £47,937).
This has led to the closing level of funds decreasing to £63,808 (2023: £81,711) at the Balance sheet date, of which £12,333 are restricted funds and £51,475 are unrestricted funds.
Page 5
The Ajkham Valley Community Project and Therapeutic Riding Centre CIO Trustees. report (continued) For the year ended 31 May 2024 Structure, governance and management . Constitution The Alkham Valley Community Project and Therapeutic Riding Centre CIO is registered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appointment or election of Trustees The management of the Charity is the reSnSIbl11fy of the Trustees who are elected and i)>opted under the terms of the Trust deed. c. Risk management The Trustees have assessed the major rFsks to which the Charity is exposed. in particular those related to the operations and finances of the Charity, and are satssfied that systems and procedures are in place to mitigate exposure to the major risks. Plans for future periods The Trustees wll continue to support the aGlivities of the Charity for the foreseeable fijture. Statement of Trustees. reponsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in a(X0rdan wtth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- The law aPIcable to charities in England & Wales requires the Trustees to prepare financial ststements for each financial vthich give a true and fair view of the state of affairs of the Charity and of its income and application of resources. induding its InMe and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102): make judgements and ac(x)unting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements-. prepare the financial slatements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient.to show and explain the Chartivs transactions and disclose wtlh reasonable accuracy at any time the financial posilion of the Charity and enable them to ensure that the financial statements comply with the Chartties 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 mem rs of the bo Trustees and signed on their behaw by. Mrs Josaine Murrell BHSAI Chair Date: 31103/ioiJ
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Independent examiner's report
For the year ended 31 May 2024
Independent examiner's report to the Trustees of The Alkham Valley Community Project and Therapeutic Riding Centre CIO (‘the Charity’)
| report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2024. |
Responsibilities and basis of report
As the Trustees of the Charity (and 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 Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2014 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. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants England and Wales, which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity 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
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' 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)]. ;
| 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the Charity’s Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. i Signed : d: Zs ta: rn Dated: 3+ Arorch. M K R Dyer ACCA MAAT Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU
Page 7
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 May 2024
| Note Income from: Donations and legacies 3 Other trading activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 9,333 - 9,333 - - 9,333 3,000 9,333 12,333 |
Unrestricted funds 2024 £ 37,861 205,946 243,807 268,243 268,243 (24,436) 78,711 (24,436) 54,275 |
Total funds 2024 £ 47,194 205,946 253,140 268,243 268,243 (15,103) 81,711 (15,103) 66,608 |
Total funds 2023 £ 69,913 204,752 |
|---|---|---|---|---|
| 274,665 322,602 |
||||
| 322,602 (47,937) 129,648 (47,937) |
||||
| 81,711 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 21 form part of these financial statements.
Page 8
The Alkham Valley Community Project and Therapeutic Riding Centre CIO Registered number:
Balance sheet As at 31 May 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 7 | 128,241 | 168,660 | |||
| Current assets | ||||||
| Debtors | 8 | - | 88 | |||
| Cash at bank and in hand | 900 | 101 | ||||
| 900 | 189 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 9 | (15,558) | (27,485) | |||
| Net current liabilities | (14,658) | (27,296) | ||||
| Total assets less current liabilities | 113,583 | 141,364 | ||||
| Creditors: amounts falling due after more | ||||||
| than one year | 10 | (46,975) | (59,653) | |||
| Total net assets | 66,608 | 81,711 | ||||
| Charity funds | ||||||
| Restricted funds | 11 | 12,333 | 3,000 | |||
| Unrestricted funds | 11 | 54,275 | 78,711 | |||
| Total funds | 66,608 | 81,711 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Mrs Josaine Murrell BHSAI
Date:
The notes on pages 10 to 21 form part of these financial statements.
Page 9
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
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.
2.2 Going concern
The Trustees have reviewed the Charity's position given the recent results and structure of the balance sheet. The Trustees have determined actions to solidify the Charity's future position which have been actioned post year end, including streamlining of sessions and sale of assets no longer required. The Trustees are confident these changes will improve the Charity' financial position and as such continue to apply the going concern basis.
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.
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.
Page 10
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
2. Accounting policies (continued)
2.4 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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:
| Long-term leasehold property | - 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.
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.
Page 11
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
2. Accounting policies (continued)
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 2023 |
Restricted funds 2024 £ - 9,333 9,333 15,000 |
Unrestricted funds 2024 £ 14,861 23,000 37,861 54,913 |
Total funds 2024 £ 14,861 32,333 47,194 69,913 |
Total funds 2023 £ 54,913 15,000 |
|---|---|---|---|---|
| 69,913 | ||||
4. Income from other trading activities Income from fundraising events
| Sessions Total 2023 |
Unrestricted funds 2024 £ 205,946 204,752 |
Total funds 2024 £ 205,946 204,752 |
Total funds 2023 £ 204,752 |
|---|---|---|---|
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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 2024
5. Analysis of expenditure on charitable activities
Summary by fund type
| Animal care Insurance Loss on disposal of fixed assets Farrier Vet Accounting Sub contract labour Other Training Motor vehicle expenses Bank charges Depreciation Total 2023 |
Restricted funds 2024 £ - - - - - - - - - - - - - 23,221 |
Unrestricted funds 2024 £ 39,690 4,497 (6,530) 3,815 2,339 3,199 134,554 25,923 - 6,847 7,890 46,019 268,243 299,381 |
Total 2024 £ 39,690 4,497 (6,530) 3,815 2,339 3,199 134,554 25,923 - 6,847 7,890 46,019 268,243 322,602 |
Total 2023 £ 49,035 5,871 (4,516) 7,148 4,484 2,633 161,349 33,420 1,240 7,022 7,286 47,630 |
|---|---|---|---|---|
| 322,602 |
6. Trustees' remuneration and expenses
During the year ended 31 May 2024, 1 Trustee received remuneration of £3,961 (2023: £7,620).
During the year ended 31 May 2024, expenses totalling £Nil were reimbursed or paid directly to Trustees (2023 - £331 to 2 Trustees).
Page 13
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
7. Tangible fixed assets
| Cost or valuation At 1 June 2023 Additions Disposals At 31 May 2024 Depreciation At 1 June 2023 Charge for the year On disposals At 31 May 2024 Net book value At 31 May 2024 At 31 May 2023 |
Long-term leasehold property £ 256,699 - - 256,699 157,535 21,632 - 179,167 77,532 99,164 |
Motor vehicles £ 19,800 6,000 - 25,800 14,301 4,500 - 18,801 6,999 5,499 |
Fixtures and fittings £ 86,691 - (4,214) 82,477 62,669 11,550 (4,214) 70,005 12,472 24,022 |
Horses £ 103,333 2,000 (8,360) 96,973 63,358 8,337 (5,960) 65,735 31,238 39,975 |
Total £ 466,523 8,000 (12,574) |
|---|---|---|---|---|---|
| 461,949 | |||||
| 297,863 46,019 (10,174) |
|||||
| 333,708 | |||||
| 128,241 | |||||
| 168,660 |
8. Debtors
| Due within one year Prepayments and accrued income |
2024 £ - - |
2023 £ 88 |
|---|---|---|
| 88 |
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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 2024
9. Creditors: Amounts falling due within one year
| Bank overdrafts Bank loans Other loans Other creditors Accruals and deferred income |
2024 £ - 12,678 - - 2,880 15,558 |
2023 £ 139 12,571 10,214 2,000 2,561 |
|---|---|---|
| 27,485 |
10. Creditors: Amounts falling due after more than one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans | 46,975 | 59,653 |
Page 15
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
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 The Thomas Bailey Charitable Fund Holiday Activities and Food Programme Total of funds |
Balance at 1 June 2023 £ 2,520 76,191 78,711 3,000 - 3,000 81,711 |
Income £ - 243,807 243,807 - 9,333 9,333 253,140 |
Expenditure £ (1,260) (266,983) (268,243) - - - (268,243) |
Balance at 31 May 2024 £ 1,260 |
|---|---|---|---|---|
| 53,015 | ||||
| 54,275 | ||||
| 3,000 9,333 |
||||
| 12,333 | ||||
| 66,608 |
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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 2024
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 Woodenspoon - Kitchen Peter Harrison Greggs Clothworkers Carriage Fund Go cardless Woodenspoon Get on board Kent Community Foundation RDA UK Big Lotter 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 |
Page 17
The Alkham Valley Community Project and Therapeutic Riding Centre CIO
Notes to the financial statements For the year ended 31 May 2024
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
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 depreciated 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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 of the asset. During the prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent
Kent Community Foundation - A grant received for small equipment purchased, with the balance representing the net book value. During the prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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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 2024
11. Statement of funds (continued)
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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 prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
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.
Woodenspoon - kitchen - A grant recieved towards the renovation of the kitchen area. The above balance represents the net book value. During the prior period, it was agreed that as the money had been fully utilised on original purchase of the fixed asset, the balance of the fund would be transferred to general funds at the period end to reflect that the grant was fully spent.
12. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 June 2023 £ 2,520 76,191 3,000 81,711 |
Income £ - 243,807 9,333 253,140 |
Expenditure £ (1,260) (266,983) - (268,243) |
Balance at 31 May 2024 £ 1,260 53,015 12,333 |
|---|---|---|---|---|
| 66,608 |
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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 2024
12. Summary of funds (continued)
Summary of funds - prior 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 |
13. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Restricted funds 2024 £ - 12,333 - - 12,333 |
Unrestricted funds 2024 £ 128,241 (11,433) (15,558) (46,975) 54,275 |
Total funds 2024 £ 128,241 900 (15,558) (46,975) |
|---|---|---|---|
| 66,608 |
Analysis of net assets between funds - prior period
| 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 2024
14. Related party transactions
During the year, the charity received cumulative donations of £4,950 from the Trustees (2023: £210).
During the prior period, the charity received a loan of £4,215 from Ms J Murrell, a Trustee (2024: £Nil). The charity made repayments on the loan of £9,775 (2023: £6,960) during the period. At the year end, the total outstanding was £Nil (2023: £9,775). The loan is interest free and repayable on demand.
The Charity has not entered into any other related party transactions during the year (2023 - £Nil).
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