COMPANY REGISTRATION NUMBER: 08242972 CHARITY REGISTRATION NUMBER: 1155770
Tyne & Wear RDA Limited Company Limited by Guarantee Unaudited Financial Statements
31 March 2022
CHIPCHASE MANNERS
Chartered Accountants 384 Linthorpe Road Middlesbrough TS5 6HA
Tyne & Wear RDA Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
Tyne & Wear RDA Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 March 2022.
Reference and administrative details
Registered charity name Tyne & Wear RDA Limited Charity registration number 1155770 Company registration number 08242972 Principal office and registered Washington Riding Centre office Stephenson Road Washington Tyne and Wear NE37 3HR
The trustees
Mrs L S Boyle Ms M Potts Mrs P Archer Mr D Pearson (Resigned 23 June 2022) Independent examiner Martin Firth 384 Linthorpe Road Middlesbrough TS5 6HA
Structure, governance and management
Charitable Objects
The principal activity of the charity is to provide for the relief of disabled persons by the provision or assistance in the provision of facilities for riding and other associated activities to further the objects of the Riding for the Disabled Association. The Charity proposes to achieve its objective by providing, managing and operating a riding centre at Stephenson Road, Washington.
Objectives and activities
In order to meet its objectives as part of the Riding for the Disabled Association group, the charity carries out a number of different activities in the Tyne and Wear and County Durham areas including: - Providing riding therapy for disabled people in the Tyne and Wear region. - Providing education and training towards nationally recognised qualifications to people with disabilities, special needs and learning difficulties and also for those who are able bodied. - Providing volunteering opportunities for people of all ages in order to assist the charity in achieving its charitable objectives. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year.
1
Tyne & Wear RDA Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
Achievements and performance
The last financial year has been another challenge for us all, as we continued to deal with the effects and restrictions of Covid.
During the year it was a pleasure to welcome back staff and some of our horses, others had to be retired. We were extremely grateful for the support received toward the purchase of a new horse as a replacement.
March 2021 saw the completion of the groundworks for our sensory garden and ride, and we made a start on planting a few raised beds. Covid however, heightened our appreciation for the struggle some of our riders were facing with health issues, and for some riding was no longer possible at that time. We realised that we had to make additional activities available to suit an outdoor space, where contact with horses and ponies was still possible, as our clients still wanted to enjoy an equine experience.
We express our grateful thanks to Sport England for providing funding to purchase a pony petting stable, to be situated within the sensory garden, which is to be a calm and peaceful area, well suited to those suffering with stress and mental health. The stable was finally delivered and erected at the end of September 2021, however two weeks after delivery, while we were making plans for its use throughout the winter months, storm Urwin struck the area with a vengeance and completely destroyed the stable. It would be May 2022 before a replacement will arrive.
A highlight of the year, despite the Covid restrictions, was a visit to the Centre by North East legend Brenda Blethyn. Although limited in activities due to Covid, she was able to enjoy meeting our riders and horses, and rewarding our hardworking volunteers with Certificates of Appreciation. We were delighted when she agreed to become our Patron for the Centre.
A review of our business plan and strategy suggested the need for changes to our booking system, and to better utilise the staff time, and as we were still building up again from Covid, this seemed a great opportunity to make the move. We were grateful to NBL for providing a business support grant which enabled us to get this underway, and it is proving to be successful.
We are very much indebted to the Co-op Community Fund for supporting us with funds for the development of our sensory garden and ride, they will be used for equipment needed to maintain the garden and for plants and shrubs.
We would also like to express thanks to the Barbour Foundation for funds for the purchase of a muck collector. This has been a huge benefit to our staff and volunteers, and also of benefit to the horses health as it has been a contribution to the success of the worming programme.
The James Knott Trust generously responded to our request for funding toward a Volunteer Co-Ordinator. As we started to emerge from the effects of Covid and welcome back volunteers to the Centre, we were aware that there was a need for their support and training, especially as we had made changes to adapt to the Covid situation. We were delighted to welcome Fiona Lowrey to our team, she has been a real asset to the Centre.
Essential maintenance for the health and safety of our staff, volunteers, clients and horses, has been supported by generous donations from Roy & Pixie Baker Trust, W A Handley and Sir John Priestman Trusts. We are extremely grateful for their funding support and it is never taken for granted.
In the coming year we are looking to continue working on the sensory garden and ride, with a view to having the garden officially opened at some point late summer, and making it available for the
2
Tyne & Wear RDA Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
community for all age groups to enjoy, and then starting outdoor riding once the horses get used to the space. We are also looking at ways to make savings with energy and improve our carbon footprint, and we hope to secure funding to improve the lighting both inside and outside of the buildings. Despite the Covid restrictions, we were able to safely deliver an outdoor dressage competition series, and we aim to repeat this success in the coming year.
Nothing would be possible without the valuable contribution from volunteers and supporters of the Centre, and especially the hardworking board who despite having other commitments, are generous in sharing their time and expertise to make the Centre so successful.
As a board we will continue to review our business plan and strategy to ensure compliance and commitment to our charitable objectives and to ensure our continued success.
Financial review
The charity's policy is to retain reserves, in the form of unrestricted funds, to a level where they equate to approximately 6 months expenditure. This should provide a reasonably secure financial base on which to plan future projects and commit to related expenditure before external funding has been fully secured. The general fund shows a deficit of £9,844 during the year, while the balance sheet shows aggregate reserves of £145,359 at 31 March 2022.
The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements. The Trustees are satisfied with the overall financial position of the charity and can confirm that the charity has the resources to fully discharge its obligations.
Risk statement
It is confirmed that the major risks identified by the Trustees have been reviewed and systems established to mitigate those risks.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 6 January 2023 and signed on behalf of the board of trustees by:
Mrs P Archer Trustee
3
Tyne & Wear RDA Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Tyne & Wear RDA Limited
Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of Tyne & Wear RDA Limited ('the company') for the year ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the company’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.
Independent examiner's statement
Since the company’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 Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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
-
the financial statements 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).
4
Tyne & Wear RDA Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Tyne & Wear RDA Limited
(continued)
Year ended 31 March 2022
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.
Martin Firth Independent Examiner
384 Linthorpe Road Middlesbrough TS5 6HA
6 January 2023
5
Tyne & Wear RDA Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 8,689 | 41,005 | 49,694 | 68,113 |
| Charitable activities | 6 | 20,193 | – | 20,193 | 32,605 |
| Other trading activities | 7 | 193,884 | – | 193,884 | 133,113 |
| Investment income | 8 | – | – | – | 8 |
| Other income | 9 | 4,800 | 2,508 | 7,308 | 31,207 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 227,566 | 43,513 | 271,079 | 265,046 | |
| ================================ | ============================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 10,11 | 237,410 | 16,100 | 253,510 | 232,750 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 237,410 | 16,100 | 253,510 | 232,750 | |
| ================================ | ============================ | ================================ | ================================ | ||
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in | funds | (9,844) | 27,413 | 17,569 | 32,296 |
| ================================ | ============================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 115,107 | 12,683 | 127,790 | 95,494 | |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 105,263 | 40,096 | 145,359 | 127,790 | |
| ================================ | ============================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 19 form part of these financial statements.
6
Tyne & Wear RDA Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 56,631 | 46,916 |
| Current assets | |||
| Stocks | 17 | 17,125 | 10,725 |
| Debtors | 18 | 2,244 | 3,536 |
| Cash at bank and in hand | 83,543 | 74,314 | |
| -------------------------------- | ---------------------------- | ||
| 102,912 | 88,575 | ||
| Creditors: amounts falling due within one year | 19 | 14,184 | 7,701 |
| -------------------------------- | ---------------------------- | ||
| Net current assets | 88,728 | 80,874 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 145,359 | 127,790 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 145,359 | 127,790 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Restricted funds | 40,096 | 12,683 | |
| Unrestricted funds | 105,263 | 115,107 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 21 | 145,359 | 127,790 |
| ================================ | ================================ |
For the year ending 31 March 2022 the company 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 company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 6 January 2023, and are signed on behalf of the board by:
P Archer Director
The notes on pages 8 to 19 form part of these financial statements.
7
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Washington Riding Centre, Stephenson Road, Washington, Tyne and Wear, NE37 3HR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
-
(a) No cash flow statement has been presented for the company.
-
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
8
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
9
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance Fixtures and fittings - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
10
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
11
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Financial instruments (continued)
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Tyne and Wear RDA Limited is a company limited by guarantee and accordingly does not have a share capital.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 8,689 | 38,505 | 47,194 |
| John Priestman Charity Trust | – | 1,500 | 1,500 |
| WA Handley Trust | – | 1,000 | 1,000 |
| ----------------------- | ---------------------------- | ---------------------------- | |
| 8,689 | 41,005 | 49,694 | |
| ======================= | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 20,370 | 45,243 | 65,613 |
| John Priestman Charity Trust | – | 1,500 | 1,500 |
| WA Handley Trust | – | 1,000 | 1,000 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 20,370 | 47,743 | 68,113 | |
| ============================ | ============================ | ============================ |
12
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Fundraising events | 6,315 | 6,315 | 5,107 | 5,107 |
| Facilities hire | 9,884 | 9,884 | 20,340 | 20,340 |
| Hot and cold drink sales | 1,916 | 1,916 | 859 | 859 |
| Adopt a horse | 280 | 280 | 3,099 | 3,099 |
| Sale of horses | 1,200 | 1,200 | 3,200 | 3,200 |
| Training | 598 | 598 | – | – |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 20,193 | 20,193 | 32,605 | 32,605 | |
| ============================ | ============================ | ============================ | ============================ |
7. Other trading activities
| Unrestricted | Total Funds | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Riding lessons | 118,430 | 118,430 | 51,376 | 51,376 | |
| Rent from livery | 73,238 | 73,238 | 78,395 | 78,395 | |
| Promotional products | 2,216 | 2,216 | 3,342 | 3,342 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 193,884 | 193,884 | 133,113 | 133,113 | ||
| ================================ | ================================ | ================================ | ================================ |
8. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Bank interest receivable | – | – | 8 | 8 |
| ============== | ============== | ============== | ============== | |
| Other income | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Rent from bungalow | 4,800 | – | 4,800 | |
| Furlough income | – | 2,508 | 2,508 | |
| ----------------------- | ----------------------- | ----------------------- | ||
| 4,800 | 2,508 | 7,308 | ||
| ======================= | ======================= | ======================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Rent from bungalow | 4,800 | – | 4,800 | |
| Furlough income | – | 26,407 | 26,407 | |
| ----------------------- | ---------------------------- | ---------------------------- | ||
| 4,800 | 26,407 | 31,207 | ||
| ======================= | ============================ | ============================ |
9. Other income
13
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
10. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Riding lessons | 134,043 | 10,854 | 144,897 |
| Support costs | 103,367 | 5,246 | 108,613 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 237,410 | 16,100 | 253,510 | |
| ================================ | ============================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Riding lessons | 81,236 | 51,467 | 132,703 |
| Support costs | 88,150 | 11,897 | 100,047 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 169,386 | 63,364 | 232,750 | |
| ================================ | ============================ | ================================ |
11. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Riding lessons | 144,897 | 41,364 | 186,261 | 173,653 |
| Governance costs | – | 67,249 | 67,249 | 59,097 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 144,897 | 108,613 | 253,510 | 232,750 | |
| ================================ | ================================ | ================================ | ================================ |
12. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | |||
| activity 1 | Total 2022 | Total 2021 | |
| £ | £ | £ | |
| Premises | 11,070 | 11,070 | 6,658 |
| Communications and IT | 684 | 684 | 651 |
| General office | 3,180 | 3,180 | 3,260 |
| Repairs and maintenance | 11,771 | 11,771 | 15,159 |
| Insurance | 8,953 | 8,953 | 8,894 |
| Motor expenses | 1,609 | 1,609 | 1,164 |
| Equipment hire | 848 | 848 | 381 |
| Membership fees | 794 | 794 | 100 |
| Depreciation | 2,455 | 2,455 | 4,683 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 41,364 | 41,364 | 40,950 | |
| ============================ | ============================ | ============================ |
14
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
13. Net income
| Net income is stated after charging/(crediting): | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 2,455 | 4,683 | |
| ======================= | ======================= | ||
| 14. | Independent examination fees | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 2,400 | 2,280 | |
| ======================= | ======================= |
15. Particulars of employees
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 117,563 | 119,673 |
| Social security costs | 5,233 | 5,234 |
| Employer contributions to pension plans | 1,834 | 1,471 |
| -------------------------------- | -------------------------------- | |
| 124,630 | 126,378 | |
| ================================ | ================================ |
| The average head count of employees during the year was 11 (2021: 14). The average | The average head count of employees during the year was 11 (2021: 14). The average | number |
|---|---|---|
| of full-time equivalent employees during the year is analysed as follows: | ||
| 2022 | 2021 | |
| No. | No. | |
| Number of staff | 11 | 14 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
15
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
16. Tangible fixed assets
| Freehold | Plant and | Fixtures and | |||
|---|---|---|---|---|---|
| property | machinery | fittings | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 April 2021 | 43,874 | 18,931 | 19,316 | 82,121 | |
| Additions | – | 12,170 | – | 12,170 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| At 31 March 2022 | 43,874 | 31,101 | 19,316 | 94,291 | |
| ============================ | ============================ | ============================ | ============================ | ||
| Depreciation | |||||
| At 1 April 2021 | – | 17,140 | 18,065 | 35,205 | |
| Charge for the year | – | 1,867 | 588 | 2,455 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| At 31 March 2022 | – | 19,007 | 18,653 | 37,660 | |
| ============================ | ============================ | ============================ | ============================ | ||
| Carrying amount | |||||
| At 31 March 2022 | 43,874 | 12,094 | 663 | 56,631 | |
| ============================ | ============================ | ============================ | ============================ | ||
| At 31 March 2021 | 43,874 | 1,791 | 1,251 | 46,916 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 17. | Stocks | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Raw materials | 17,125 | 10,725 | |||
| ============================ | ============================ | ||||
| 18. | Debtors | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Trade debtors | 145 | – | |||
| Prepayments and accrued income | 2,024 | 1,786 | |||
| Other debtors | 75 | 1,750 | |||
| ----------------------- | ----------------------- | ||||
| 2,244 | 3,536 | ||||
| ======================= | ======================= | ||||
| 19. | Creditors: amounts falling due within | one year | |||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 1,296 | – | |||
| Trade creditors | 8,837 | 5,047 | |||
| Accruals and deferred income | 2,400 | 2,280 | |||
| Social security and other taxes | 1,191 | – | |||
| Other creditors | 460 | 374 | |||
| ---------------------------- | ----------------------- | ||||
| 14,184 | 7,701 | ||||
| ============================ | ======================= |
16
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,834 (2021: £1,471).
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | April 2021 | Income | Expenditure | 31 March 2022 | |
| £ | £ | £ | £ | ||
| General funds | 115,107 | 227,566 | (237,410) | 105,263 | |
| ================================ | ================================ | ================================ | ================================ | ||
| At | At | ||||
| 1 | April 2020 | Income | Expenditure | 31 March 2021 | |
| £ | £ | £ | £ | ||
| General funds | 93,597 | 190,896 | (169,386) | 115,107 | |
| ============================ | ================================ | ================================ | ================================ |
Purposes of Unrestricted Funds
The general fund represents the income received and expenditure incurred in providing the services and activities of the charity.
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 April 2021 | Income | Expenditure | 31 March 2022 | |
| £ | £ | £ | £ | |
| Arena Lights | – | – | – | – |
| HMRC Job Retention Scheme | – | 2,508 | (2,508) | – |
| Sport England | – | 9,250 | (1,287) | 7,963 |
| Sunderland Council | – | – | – | – |
| BHS Hardship | – | – | – | – |
| Magic | – | – | – | – |
| Sensory Garden | 12,683 | 8,410 | (1,458) | 19,635 |
| Arnold Clarke | – | 1,000 | (1,000) | – |
| Sir James Knott | – | 10,000 | (1,667) | 8,333 |
17
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
21. Analysis of charitable funds (continued)
| Hadrian Trust | – | 500 | (500) | – |
|---|---|---|---|---|
| Barbour Foundation | – | 3,000 | – | 3,000 |
| NBL | – | 1,050 | (1,050) | – |
| Horse Fund | – | 4,130 | (4,130) | – |
| Saddle Fund | – | 1,165 | – | 1,165 |
| Field Fund | – | 2,500 | (2,500) | – |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 12,683 | 43,513 | (16,100) | 40,096 | |
| ============================ | ============================ | ============================ | ============================ | |
| At | At | |||
| 1 April 2020 | Income | Expenditure | 31 March 2021 | |
| £ | £ | £ | £ | |
| Arena Lights | 1,897 | – | (1,897) | – |
| HMRC Job Retention Scheme | – | 26,407 | (26,407) | – |
| Sport England | – | 10,000 | (10,000) | – |
| Sunderland Council | – | 11,250 | (11,250) | – |
| BHS Hardship | – | 2,600 | (2,600) | – |
| Magic | – | 1,210 | (1,210) | – |
| Sensory Garden | – | 22,683 | (10,000) | 12,683 |
| Arnold Clarke | – | – | – | – |
| Sir James Knott | – | – | – | – |
| Hadrian Trust | – | – | – | – |
| Barbour Foundation | – | – | – | – |
| NBL | – | – | – | – |
| Horse Fund | – | – | – | – |
| Saddle Fund | – | – | – | – |
| Field Fund | – | – | – | – |
| ----------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 1,897 | 74,150 | (63,364) | 12,683 | |
| ======================= | ============================ | ============================ | ============================ |
Purposes of Restricted Funds
HMRC Job Retention Scheme - Provided to help fund the wages of furloughed staff. Sport England - Provided to help fund the new Pony stable. Arnold Clarke - Provided to help fund animal feed.
Sensory Garden - Contributions from multiple donors to help build the Sensory Garden. Sir James Knott - Provided to help fund recruitment of new volunteers as well as supporting volunteers, old and new. Hadrian Trust - Provided to help fund recruitment of new volunteers as well as supporting volunteers, old and new. Barbour Foundation - Provided to help fund the purchase of the new sweeper collector. NBL - Provided to help fund the new bespoke software design app. Horse Fund - Provided to help fund the purchases of new horses to the centre. Saddle Fund - Provided to help fund the replacement and renewal of horses' saddles. Field Fund - Provided to help fund essential ground maintenance.
The transfers between funds represents prior years expenditure of restricted fund income that had previously been recognised as unrestricted expenditure.
18
Tyne & Wear RDA Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
22. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 48,053 | 8,578 | 56,631 |
| Current Assets | 71,394 | 31,518 | 102,912 |
| Creditors less than 1 year | (14,184) | – | (14,184) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 105,263 | 40,096 | 145,359 |
| ================================ | ============================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 46,916 | – | 46,916 |
| Current Assets | 75,892 | 12,683 | 88,575 |
| Creditors less than 1 year | (7,701) | – | (7,701) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 115,107 | 12,683 | 127,790 |
| ================================ | ============================ | ================================ |
19