Charity Registration No. 1158714
REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Lisa Bailey (appointed October 2017, then appointed as Chairperson in July 2019) Yifei He (Treasurer - appointed 7[th] March 2019) Fleur Mitchell (Secretary - appointed 17[th] July 2019) Amy Northwood (appointed May 2017) Kelly James (appointed 16[th] April 2020) Pat Glover (appointed 1[st] September 2020)
Charity number 1158714 Principal address Crown Farm Stables Crown Road Kelvedon Hatch Brentwood Essex CM14 5TB Independent examiner Community 360 Winsley's House High Street Colchester CO1 1UG
REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
CONTENTS
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Page
Trustees’ report 1 - 3
Independent examiner’s report 4 - 5
Statement of financial activities 6
Statement of financial position 7
Notes to the financial statement 8 - 15
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE
FOR HIPPOTHERAPY
(REACH)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2021
The trustees present their report and financial statements for the year ended 30 September 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The charity’s objects are to relieve the needs of people suffering from a range of disabilities including cerebral palsy, Down syndrome, development delay, spinal chord injury, autism, learning disabilities and mental health disorders, through facilitating hippotherapy and associated equine based therapies and rehabilitation techniques.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievement and performance
A comprehensive programme of therapy sessions were delivered over the year equating approximately:
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239 Hippotherapy Sessions
-
47 Equine Assisted Therapy Sessions
-
106 Riding for the Disabled Therapeutic riding Sessions
-
16 Equine Facilitated Learning sessions
These were significantly lower than previous years as the charity site was closed from 24[th] March 2020, briefly reopened in October 2020 and then closed down again until 12[th] March 2021 due to COVID-related lockdowns.
Financial Review
The main source of income is in the form of donations and client fees. The trustees also undertake fundraising in the year through events.
The trust finances are monitored during the year and accounts presented to the committee.
Income totalled £116,817 over the 12 months to 30 September 2021. This was made up of £19,090 of therapy receipts, £25,354 of unrestricted donations, £7,650 of fundraising income and £7 of sundry income. There was also £59,516 of restricted donations received in this financial year, of which £55,774 were related to the building of the Equine Facilitated Learning (“EFL”) development project.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE
FOR HIPPOTHERAPY
(REACH)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Since COVID-19 outbreak in March 2020, the UK government has provided unprecedented support to UK businesses and charities impacted by the pandemic. The charity has received COVID-19 related payment in the format of £3,451 furlough payment through the Job Retention Scheme (“JRS”).
Expenditure for the year totalled £58,313.
Income tax recoverable in relation to donation received under Gift Aid or deeds of covenant is recognised at the time of the donation.
The charity has surplus funds of £88,139 to carry forward as at 30 September 2021. These funds are to be used for future activities of the charity in line with achieving its objectives.
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom accounting Standards (United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principal in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulation 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.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE
FOR HIPPOTHERAPY
(REACH)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2021
The charity (referred to as REACH in these accounts) was established by a Constitution of a Charitable Incorporated Organisation (CIO) on 25 September 2014.
The trustees served during the year were:
Lisa Bailey Yifei He Kelly James Fleur Mitchell Amy Northwood Pat Glover
New trustees are proposed and appointed at Trustee Committee meetings. At every annual general meeting of the members of the CIO, one third of the charity trustees shall retire from office. The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. The number of trustees shall never be less than three or more than twelve.
The organisational structure of the charity is one in which decision of the members of the CIO may be taken by a resolution at a general meeting or by written resolution. Such resolutions are passed by a simple majority of votes.
The trustees’ report was approved by the Board of Trustees.
Yifei He (Treasurer) Trustee Dated: 21 July 2022
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE
FOR HIPPOTHERAPY
(REACH)
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
I report to the trustees on my examination of the financial statements of Rehabilitation, Education and Assessment Centre for Hippotherapy CIO (the charity) for the year ended 30 September 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulation 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.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE
FOR HIPPOTHERAPY
(REACH)
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
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 financial statements to be reached.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Shelley-Marie Rudling FMAAT AATQB for and on behalf of: Community 360 Winsley's House High Street Colchester CO1 1UG Hl, Dated: 21[st] July 2022
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Unrestricted funds |
Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | 2021 | 2020 | |||
| Notes | £ | £ | £ | £ | |
| Income from | |||||
| Donations and legacies 3 |
33,003 | 59,516 | 92,519 | 23,747 | |
| Charitable activities 4 |
20,847 | 3,451 | 24,298 | 31,968 | |
| Investments 5 |
- | - | - | - | |
| Total Income | 53,850 | 62,967 | 116,817 | 55,716 | |
| Expenditure on | |||||
| Charitable activities 6 |
54,923 | 3,390 | 58,313 | 56,519 | |
| Total resources expended | 54,923 | 3,390 | 58,313 | 56,519 | |
| Net (outgoing)/incoming resources before transfers |
(1,073) | 59,577 | 58,504 | (803) | |
| Previous Year Adjustment 12 |
- | - | - | (2,622) | |
| Net income/(expenditure) for the year / Net movement in funds |
(1,073) | 59,577 | 58,504 | (3,425) | |
| Fund balances at 1 October 2019 | 20,651 | 8,984 | 29,635 | 33,060 | |
| Fund balances at 30 September 2020 | 19,578 | 68,561 | 88,139 | 29,635 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible assets | 9 | 65,098 | 4,922 | ||
| Current assets | |||||
| Debtors | 10 | 180 | (40) | ||
| Cash at bank and in hand | 23,687 | 25,434 | |||
| 23,867 | 25,394 | ||||
| Creditors: amounts falling due within | 11 | (826) | (681) | ||
| one year | |||||
| Net current assets | 23,041 | 24,713 | |||
| Net assets | 88,139 | 29,635 | |||
| Income funds | |||||
| Restricted funds | 68,561 | 8,984 | |||
| Unrestricted funds | 19,578 | 20,651 | |||
| 88,139 | 29,635 |
The financial statements were approved by the Trustees on 21 July 2022.
Yifei He (Treasurer) Trustee
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
1. Accounting Policies
Charity Information
Rehabilitation, Education and Assessment Centre for Hippotherapy, also referred to as REACH, is a Charitable Incorporated Organisation. The Charity operates from Crown Farm Stables, Crown Road, Kelvedon Hatch, Brentwood, Essex, CM14 5TB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provision in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and use of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donations, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, and other sales related taxes.
1.5 Resources expended
Expenses are recognised when the charity is legally liable for such expenses, and the amounts can be measured reliably.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery 20% reducing balance per annum
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.
1.8 Cash and cash equivalents
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measures at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amount payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2. Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from the estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 3. Donations and legacies Donations and gifts For the year ended 30 September 2020 of which £55,774 were related to EFL 4. Charitable activities* |
Unrestricted funds £ 33,003 12,841 |
Restricted funds £* 59,516 10,906 |
Total 2021 Total 2020 £ £ 92,519 23,747 - 23,747 |
|---|---|---|---|
| Grants Services Sale of Assets Clothing sales Other For the year ended 30 September 2020 nvestments Interest receivable |
Unrestricted funds £ - 19,090 1,750 7 - 20,847 26,633 |
Restricted funds £ - - - - 3,451 3,451 5,335 |
Total 2021 £ - 19,090 1,750 7 3,450 24,298 - 2021 £ 0 |
Total 2020 £ 10,000 16,583 - 50 5,335 |
|---|---|---|---|---|
| 31,968 | ||||
| 31,968 | ||||
| 2020 £ 0 |
5. Investments
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
6. Charitable activities
| Unrestricted £ Horse hire - Depreciation and impairment 578 Hippotherapist and therapist cost 9,671 Fundraising costs 2,084 Blacksmith, horse care and equipment 5,390 Animal feed and bedding 7,181 Wages and Salaries 19,529 Training 85 Travel 52 Premises expenses 1,200 Telephone and Fax 282 Postage, Stationery and printing 1,316 Subscriptions 293 Insurance 425 Sundry expenses 1,513 Advertising & PR - Bank Charges 4 Repairs & maintenance 1,462 Veterinary costs 3,398 Legal & Professional Fee 460 54,923 |
Restricted £ - - 3,340 - - - - - - - - - - - - - - 50 - - 3,390 |
2021 £ - 578 13,011 2,084 5,390 7,181 19,529 85 52 1,200 282 1,316 293 425 1,513 - 4 1,512 3,398 460 58,313 |
2020 £ 1,868 2,332 9,993 792 5,794 4,008 15,770 127 331 1,200 309 888 475 - 1,171 - 33 8,875 2,064 490 |
|---|---|---|---|
| 56,519 |
2020 restricted funds £11,290, Unrestricted £45,229
7. Trustees
None of the trustees (or any person connected with them) received any remuneration during the year.
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
8. Employees
Number of employees
The average monthly number employees during the year was:
| 2021 | 2020 |
|---|---|
| Number | Number |
| 4 | 2 |
Key Management Personnel
During the year, no member of key management were paid more than £60,000 per annum. The remuneration of key management personnel is decided upon and authorised by the trustees.
9. Tangible fixed assets
| Plant and machinery | |
|---|---|
| £ | |
| Cost | |
| At 1 October 2020 | 11,661 |
| Additions | 63,554 |
| Disposals | (2,800) |
| At 30 September 2021 | |
| Depreciation and impairment | |
| At 1 October 2020 | 6,739 |
| Depreciation charged in the year | 578 |
| Eliminated in respect of disposals | - |
| At 30 September 2021 | 7,317 |
| Carrying amount | |
| At 30 September 2021 | 65,098 |
| At 30 September 2020 | 4,922 |
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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY
(REACH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 10. Debtors Amounts falling due within one year Trade debtors 11. Creditors: amounts falling due within one year Amounts falling due within one year Other taxations and social security Trade creditors Accruals and deferred income |
2021 £ 180 180 2021 £ 826 - - 826 |
2020 £ (40) |
|---|---|---|
| (40) | ||
| 2020 £ 281 - 400 |
||
| 681 |
12. Previous Year Adjustment
N/A
15