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2022-09-30-accounts

Charity Registration No. 1158714

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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) Dean Hollisey (Treasurer - appointed 1[st] August 2022) 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 TaxAssist Accountants 28 Station Lane Hornchurch RM12 6NJ

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

CONTENTS

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

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees present their report and financial statements for the year ended 30 September 2022.

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 cord 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:

These were significantly higher than previous years by an increase of 413% on sessions as the charity site has since Covid had its full years operational income.

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 totaled £121,053 over the 12 months to 30 September 2022. This was made up of £16,985 of therapy receipts, £28,193 of unrestricted donations. There was also £27,120 of restricted donations received in this financial year.

1

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Since COVID-19 outbreak in March 2020, the UK government has provided unprecedented support to UK businesses and charities impacted by the pandemic.

Expenditure for the year totaled £109,085.

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 £98,359 to carry forward as at 30 September 2022. 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:

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

2

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 Kelly James Fleur Mitchell Amy Northwood Pat Glover Dean Hollisey

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.

Dean Hollisey (Treasurer) Trustee Dated: 18[th] November 2022

3

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 2022.

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:

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

  2. the financial statements do not accord with those records; or

  3. 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.

4

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 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 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.

Ronald Mansfield FMAAT for and on behalf of:

TaxAssist Accountants 28 Station Lane Hornchurch Essex RM12 6NJ

5

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Notes
Income from
Donations and legacies
3
Charitable activities
4
Investments
5
Total Income
Expenditure on
Charitable activities
6
Total resources expended
Net (outgoing)/incoming resources
before transfers
Previous Year Adjustment
12
Net income/(expenditure) for the year
/ Net movement in funds
Fund balances at 1 October 2021
Fund balances at 30 September 2022		 Unrestricted
funds
£
28,193
62,304
-
90,497
105,736
105,736
(15,239)
-
(15,239)
19,578
4,339		 Restricted
funds
£
27,120
1,688
-
28,808
3,349
3,349
25,459
-
25,459
68,561
94,020		 Total
2022
£
55,314
63,991
-
119,305
109,085
109,085
10,220
-
10,220
88,139
98,359		 Total
2021
£
92,519
24,298
-
116,817
58,504
58,504
58,504
-
58,504
29,635
88,139

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

All income and expenditure derive from continuing activities.

6

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2022

Notes
Fixed Assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Net assets
Income funds
Restricted funds
Unrestricted funds		 2022
£
224
18,808		 £
77,359
21,000		 2021
£
180
23,687		 £
65,098
23,041
19,032
1,968		 23,867
(826)
98,359 88,139
94,020
4,339		 68,561
19,578
98,359 88,139

The financial statements were approved by the Trustees on 2022.

Dean Hollisey (Treasurer) Trustee

7

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

8

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

9

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Depreciation is recognised 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 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

10

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

11

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

3. Donations and legacies
Donations and gifts
For the year ended 30 September 2022
4. Charitable activities
Grants
Services
Sale of Assets
Clothing sales
Other
For the year ended 30 September 2022
5. Investments
Interest receivable		 Unrestricted
funds
£
28,193
28,193
Unrestricted
funds
£
-
59,318
-
1,238
1,748
62,304
62,304		 Restricted
funds
£
27,120
27,120
Restricted
funds
£*
1,325
-
-
-
363
1,688
1,688		 Total
2022
£
55,313
55,313
Total
2022
£
1,325
59,318
-
1,238
2,111
62,666
62,666
2021
£
0		 Total
2021
£
92,519
-
Total
2021
£
-
19,090
1,750
7
3,450
24,298
-
2020
£
0

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REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

6. Charitable activities

Unrestricted Restricted 2022 2021
£ £ £ £
Depreciation and impairment 6,679 - 6679 578
Hippotherapist and therapist cost 15,329 3,349 18677 13,011
Fundraising costs 1,261 - 1261 2084
Blacksmith, horse care and equipment 8,899 - 8899 5,390
Animal feed and bedding 7,280 - 7280 7,181
Wages and Salaries 34,692 - 34692 19,529
Training 938 - 938 85
Travel 503 - 503 52
Premises expenses 8,188 - 8188 1,200
Telephone and Fax 1,602 - 1602 282
Postage, Stationery and printing 1,343 - 1343 1316
Subscriptions 1737 - 1737 293
Insurance - - 0 425
Sundry expenses 683 - 683 1,513
Advertising & PR 206 - 206 -
Bank Charges 183 - 183 4
Repairs & maintenance 13,864 - 13864 1,512
Veterinary costs 2,350 - 2350 3,398
Legal & Professional Fee - - 0 460
105,736 3,349 109,085 58,313

2022 restricted funds £3,390, Unrestricted £54,923

7. Trustees

None of the trustees (or any person connected with them) received any remuneration during the year.

13

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE

FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

8. Employees

Number of employees

The average monthly number employees during the year was:

2022 2021
Number Number
9 4

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 2021 72,415
Additions 18,940
Disposals -
91,355
At 30 September 2022
Depreciation and impairment
At 1 October 2021 7,317
Depreciation charged in the year 6,679
Eliminated in respect of disposals -
At 30 September 2022 13,996
Carrying amount
At 30 September 2022 77,359
At 30 September 2021 65,098

14

REHABILITATION, EDUCATION AND ASSESSMENT CENTRE FOR HIPPOTHERAPY

(REACH)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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
12. Previous Year Adjustment		 2022
£
224
224
2022
£
(220)
-
(1748)
(1968)		 2021
£
180
180
2021
£
826
-
--
826

N/A

15