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2023-03-31-accounts

Charity registration number: 1156236

THE FARRIERS FOUNDATION TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

The Farriers Foundation Contents

Page
Reference and Administrative Details 1
Trustees' Report 2—3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7—11
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities 12

The Farriers Foundation Reference and Administrative Details For The Year Ended 31 March 2023

Trustees Mr M Trussler
Mr M J Handley (resigned 30/09/2024)
Mr C Watton
Mr C J Carrel
Mr G D Moon (resigned 30/09/2024)
Mr J Nunn (resigned 14/05/2025)
Mr A J Bowyer (appointed 26/11/2024)
Mrs S Nunn (resigned 14/05/2025)
Charity Number 1156236
Principal Address Duart, Moray Place
Gargunnock
Stirling
FK8 3BT
Independent Examiner Deans Chartered Accountants
Deans
Chartered Accountants
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ

Page 1

The Farriers Foundation

Trustees' Report For The Year Ended 31 March 2023

The trustees present their report and the financial statements for the year ended 31 March 2023.

Objectives and Activities

Aims and Objectives

Our charity's purposes and aims are as set out in our constitution:

"Providing relief of financial hardship amongst farriers or retired farriers and their dependants who, by virtue of illness or premature retirement or any other reason, have need of such assistance.

The Farriers Foundation aims to support, rehabilitate, educate and thus prevent."

The trustees meet regularly, to review our aims and to ensure that our objectives have been achieved. These reviews enable us to confirm that we have focused upon our aims and that those farriers, their families, and their dependants in need of assistance have been helped in the most beneficial way, appropriate to their individual situation. The trustees look at how successful each activity or resource has been in promoting the purposes of The Farriers Foundation when planning future activities to continue to deliver our aims.

Delivering our aims

Six of the eight trustees hold farriery qualifications, and their primary occupation is the shoeing of horses. Amongst the farrier trustees are lecturers, examiners, clinicians, and competitors ensuring that the work of The Farriers Foundation is visible and accessible across all regions of the United Kingdom. They understand the relevance of contemporary difficulties faced by the industry and have first-hand experience of safety issues and the impact that injury or illness can have on the families and businesses of farriers. The two non-farrier trustees bring significant experience and expertise to the role. All trustees are equally active and dedicated.

Our main objectives have continued to be the relief of financial hardship and to support and assist the return to work and rehabilitation of farriers and their dependants who have been affected by illness or injury and to instigate activities intended to prevent injury to those working around horses, especially within the farriery industry. The strategies we used to meet these objectives included:

Public Benefit

Our main activities and who we try to help are described below. All our charitable activities focus upon the relief of financial hardship for farriers, retired farriers and their dependants and are undertaken to further our charitable purposes for the public benefit.

The Farriers Foundation is inclusive and shows no prejudice. It provides a service to all farriers and their dependants, whether currently registered or not, retired or undertaking an apprenticeship within England and Wales. Beneficiaries are identified and referred to the foundation via the professional farriery network and via organisations such as the British Farrier & Blacksmiths Association and the Worshipful Company of Farriers. There continues to be more than 3000 registered farriers in England and Wales, plus retired and apprentice farriers.

The work of The Farriers Foundation has been promoted on various professional websites including 'forgemagazine.co.uk', 'forgeandfarrier.co.uk', forfarriersbyfarriers.co.uk, as well as our own website 'thefarriersfoundation.co.uk'. Facebook has proved instrumental in identifying beneficiaries and encouraging many farriers to become involved with the foundation and its aims. The charity has used various social media platforms for social events, 'fun' auctions of donated items, online quizzes, and competitions. These have also encouraged farriers and their families to socialise and provide support for each other.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Achievements and Performance

Page 2

The Farriers Foundation Trustees' Report (continued) For The Year Ended 31 March 2023

Main Achievements

Fundraising activities

Following the coronavirus pandemic, attendance at competitions, events and agricultural shows has slowly increased alongside the lifting of social distancing restrictions.

The Foundation has been supported generously by public donations and bequests, but by far the best supporters have been individual farriers, who have promoted the charity and advertised our merchandise on social media.

Farrier industry suppliers and distributors who have invited us to attend their events and clinics, continued to purchase items and donated wherever possible.

Our trustees, assisted by volunteers Josh and Charlotte have travelled to many events with the promotional stand, selling merchandise and raising awareness. The merchandise, clothing range, and safety wear, branded with the charity's logo is also for sale online. BFBA Farrier Focus, the main industry trade event was held in October 2022 and was our single most profitable event of the year.

Structure, Governance and Management

Governing Document

The charity is controlled by its constitution, as a charitable incorporated organisation.

Trustee Selection Methods

All new trustees are appointed via nomination and a majority vote amongst current trustees. The Chairperson holds the deciding vote should it be necessary. The role of trustee is voluntary.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mark Trussler

Mr M Trussler

Trustee

te 29 Apr 2026

Page 3

The Farriers Foundation Independent Examiner's Report to the Trustees of The Farriers Foundation For The Year Ended 31 March 2023

I report to the trustees on my examination of the accounts of The Farriers Foundation (the Trust) for the year ended 31 March 2023.

Responsibilities and Basis of Report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’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 Act.

Independent Examiner's Statement - matter of concern identified

I have completed my examination.

I confirm that no material 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 Trust as required by section 130 of the 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 contents 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.

In carrying out my examination I have dealt with a matter of concern that charity funds appear to have been misappropriated as they were not paid into the charity's bank account. The accounting records have been reviewed and corrected by the trustees with the unaccounted monies showing as a recoverable 'other debtor' in the notes to the accounts. There is also additional disclosure in the trustee's report and related party note to these accounts.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Deans

29 Apr 2026 Deans Chartered Accountants

Date Gibson House Hurricane Close Stafford Staffordshire ST16 1GZ

Page 4

The Farriers Foundation Statement of Financial Activities For The Year Ended 31 March 2023

Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Other trading activities
4
Investments
5
EXPENDITURE ON:
Raising funds
6
Charitable activities:
6
Other
Grants to beneficiaries
NET (EXPENDITURE)/INCOME
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13		 2023
Unrestricted
funds
£
6,540
15,610
-		 2022
Unrestricted
funds
£
6,901
13,702
19
22,150 20,622
(4,983 )
(2,864 )
(18,500 )		 (3,287 )
(3,027 )
(11,700 )
(26,347 ) (18,014 )
(4,197 ) 2,608
(4,197 )
33,547		 2,608
30,939
29,350 33,547

The notes on pages 7 to 11 form part of these financial statements.

Page 5

The Farriers Foundation Statement of Financial Position As At 31 March 2023

Notes
CURRENT ASSETS
Stocks
10
Debtors
11
Cash at bank and in hand
Creditors: Amounts Falling Due Within One Year
12
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted Funds
TOTAL FUNDS
13
On behalf of the board
Mr M Trussler
Trustee
te
Mark Trussler
29 Apr 2026		 2023
Unrestricted
funds
£
4,250
24,077
1,849		 2022
Total
funds
£
4,250
8,535
21,568
30,176
(826 )		 34,353
(806 )
29,350 33,547
29,350 33,547
29,350 33,547
29,350 33,547
29,350 33,547

The notes on pages 7 to 11 form part of these financial statements.

Page 6

The Farriers Foundation Notes to the Financial Statements For The Year Ended 31 March 2023

1. General Information

The Farriers Foundation is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1156236 . The principal address is Duart, Moray Place, Gargunnock, Stirling, FK8 3BT.

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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.

The charity is a Public Benefit Entity as defined by FRS 102.

2.2. Going Concern Disclosure

The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern.

2.3. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.4. Incoming Resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes and it includes interest only. Interest income is recognised using the effective interest method.

2.5. Resources Expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Other support costs

...CONTINUED

Page 7

The Farriers Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2023

2.5. Resources Expended - continued

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include governance costs, postage costs and advertising costs. They are incurred directly in support of expenditure on the objects of the charity.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

3. Income from Donations and Legacies

.
Income from Donations and Legacies
2023 2022
Unrestricted Unrestricted
funds funds
£ £
Donations and gifts 6,540 6,901

4. Income from Other Trading Activities

Fundraising events
.
Investment Income
Bank interest receivable		 2023
Unrestricted
funds
£
15,610		 2022
Unrestricted
funds
£
13,702
2023
Unrestricted
funds
£
-		 2022
Unrestricted
funds
£
19

5. Investment Income

Page 8

The Farriers Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2023

6. Analysis of Expenditure

Activities
undertaken
directly
£
Raising funds
4,983
Grants to beneficiaries
-
Other
-
4,983
Activities
undertaken
directly
£
Raising funds
3,287
Grants to beneficiaries
-
Other
-
3,287
7.
Support Costs
General administration
Governance costs
General administration
Governance costs
8.
Independent Examiner's Remuneration
Independent examination of the financial statements
9.
Average Number of Employees
Average number of employees during the year was: NIL (2022: NIL)		 Activities
undertaken
directly
£
4,983
-
-		 Grant
funding of
activities
£
-
18,500
-		 Grant
funding of
activities
£
-
18,500
-		 Support
costs
(see note 7 )
£
-
-
2,864		 2023
Total
£
4,983
18,500
2,864
4,983 18,500 2,864 26,347
Activities
undertaken
directly
£
3,287
-
-		 Grant
funding of
activities
£
-
11,700
-		 Support
costs
(see note 7 )
£
-
-
3,027		 2022
Total
£
3,287
11,700
3,027
3,287 11,700 3,027 18,014
2023
£
826		 2023
Other
£
2,038
826
2,864
2022
Other
£
2,221
806
3,027
2022
£
806

Page 9

The Farriers Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2023

10.
Stocks
Merchandise goods
11.
Debtors
Due within one year
Other debtors
12.
Creditors: Amounts Falling Due Within One Year
Accruals and deferred income
13.
Movement in Funds
Unrestricted funds
General:
General unrestricted fund
Total funds
Unrestricted funds
General:
General unrestricted fund
Total funds		 As at 1 April
2022
£
33,547		 Income
£
22,150		 2023
£
4,250
2023
£
24,077
2023
£
826
Expenditure
£
(26,347 )		 2022
£
4,250
2022
£
8,535
2022
£
806
As at 31
March 2023
£
29,350
33,547 22,150 (26,347 ) 29,350
As at 1 April
2021
£
30,939		 Income
£
20,622		 Expenditure
£
(18,014 )		 As at 31
March 2022
£
33,547
30,939 20,622 (18,014 ) 33,547
  1. Transactions with Trustees

None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.

No trustee expenses have been incurred.

Page 10

The Farriers Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2023

15. Related Party Disclosures

In 2018 Ms Sara Nunn a trustee explained that the charity's Nationwide Building Society passbook account was insuffient for their needs as they were required to make online payments, however she was unable to open a charity current account. A FlexAccount with Nationwide Building Society was then opened in Ms Nunn's name to deal with the day to day transactions of the charity. This was reported in the accounts and to the Charity Commission that this was incorrect. It wasn't until March 2023 that a charity account with CAF bank was opened.

In August 2022 the old Nationwide Building Society passbook account was closed and the closing funds amounting to £18,178.52 were deposited into the FlexAccount in Ms Nunn's name. During the year ended 31 March 2023 amounts totalling £13,810 were transferred out of the FlexAccount into another bank account of unverified ownership, but believed to be belonging to Ms Nunn.

At the year end the FlexAccount held £1,957.06 of charity funds and the remainder £22,119.60 (2022: £8,309.60) were due from Ms Nunn. This collective amount of £24,076.66 (2022: £8,534.64) is included within debtors.

Page 11

The Farriers Foundation Detailed Statement of Financial Activities For The Year Ended 31 March 2023

INCOME AND ENDOWMENTS FROM:
Donations and legacies
Donations
Other trading activities
Fundraising events and merchandise sales
Investments
Bank interest receivable
EXPENDITURE ON:
Raising funds
Opening stock
Purchases
Cost of raising funds
Closing stock
Charitable Activities:
Grants to beneficiaries
Grants to individuals
Other
Printing, postage and stationery
Website costs
Bank charges
Sundry expenses
Safety Presentation
Independent examiner's fees
NET (EXPENDITURE)/INCOME		 2023
Total
funds
£
6,540		 2022
Total
funds
£
6,901
6,540
15,610		 6,901
13,702
15,610
-		 13,702
19
- 19
22,150
(4,250)
(4,764)
(219)
4,250		 20,622
(4,000)
(3,537)
-
4,250
(4,983)
(18,500)		 (3,287)
(11,700)
(18,500)
(309)
(156)
-
(1,573)
-
(826)		 (11,700)
(146)
(156)
(2)
(1,167)
(750)
(806)
(2,864) (3,027)
(26,347) (18,014)
(4,197) 2,608

Page 12

Issuer

Issuer Deans Document generated Tue, 21st Apr 2026 15:44:51 BST

Document fingerprint d325e92ccb0f5ccbce48e88622cb301c

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 29th Apr 2026 6:00:57 BST Wed, 29th Apr 2026 9:31:09 BST Wed, 29th Apr 2026 9:31:10 BST

Mr Mark Allan Trussler - Signer (1cc12a6ded692b7e93fb14bcb0e2ed07) Richard Stonier - Signer (7558acd1354a68d42afbb321a4378e69) Liz Summers - Copied In (0337e6922c325ba7923f81426f457525)

Audit history log

Date

Action

Tue, 21st Apr 2026 15:44:51 BST Envelope generated with fingerprint 871f2d1c2163de2066c3fc8a042ce9a6 (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Document generated with fingerprint d325e92ccb0f5ccbce48e88622cb301c. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Document generated with fingerprint 71bbc480fcd0eb3fb03654f2c2e2bf56. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Document generated with fingerprint 29153d5558932c1f1ed8191308adfac1. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Mr Mark Allan Trussler has been assigned to this envelope. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Richard Stonier has been assigned to this envelope. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Liz Summers has been assigned to this envelope. (18.133.63.166) Tue, 21st Apr 2026 15:44:51 BST Envelope has been set to automatically remind the active signer every 7 day(s). (18.133.63.166) Tue, 21st Apr 2026 15:45:01 BST Envelope generated Tue, 21st Apr 2026 15:45:02 BST Sent the envelope to Mr Mark Allan Trussler for signing Tue, 21st Apr 2026 15:45:02 BST Document emailed to party email Tue, 28th Apr 2026 15:45:07 BST Document emailed to party email Wed, 29th Apr 2026 5:59:24 BST Mr Mark Allan Trussler viewed the envelope (109.152.22.219) Wed, 29th Apr 2026 6:00:57 BST Mr Mark Allan Trussler signed the envelope (109.152.22.219) Wed, 29th Apr 2026 6:00:57 BST Sent the envelope to Richard Stonier for signing (109.152.22.219)

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Document emailed to party email Richard Stonier viewed the envelope (81.29.93.242) Richard Stonier signed the envelope (81.29.93.242) Sent the envelope to Liz Summers for signing (81.29.93.242) This envelope has been signed by all parties (81.29.93.242) Signed document confirmation emailed to party email (81.29.93.242) Signed document confirmation emailed to party email (81.29.93.242) Signed document confirmation emailed to party email (81.29.93.242) Signed document confirmation emails have been sent to all parties. Document URL:

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