COMPANY REGISTRATION NUMBER: 09146301 CHARITY REGISTRATION NUMBER: 1158881
Wilton Riding for the Disabled Association Company Limited by Guarantee Unaudited Financial Statements
31 March 2021
MACDEES ACCOUNTANCY LTD
Licensed Financial Accountants 1 Pennys Lane Wilton Salisbury Wilts SP2 0BE
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Notes to the financial statements | 11 |
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative details
Registered charity name Wilton Riding for the Disabled Association
Charity registration number 1158881 Company registration number 09146301 Principal office and registered 4 St Albans Close office Bishopdown Farm Salisbury Wiltshire SP1 3FN
The trustees
Mr Thomas Mr Dixon Mrs Drew - Treasurer Mr Hill - Chairman Mr Maclean Ms Manning Ms Marking Mr Verdon-Smith Dr Worrall - Secretary Ms Wormsley-Smith
Independent examiner
Sarah Hughes-Williams Macdees Accountancy Limited
Structure, governance and management
The Trustees present their annual report together with the financial statements of the Company for the year 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors report under company law. Ths Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors'Report) Regulations 2013 has been omitted.
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Objectives and activities
a. Objectives
The objects of The Charity are to promote the objects of The Riding for the Disabled Association incorporating Carriage Driving - a charity registered under Charity Number 244108 (The Association) by providing disabled people with the opportunity to ride and/or to carriage drive to benefit their health and wellbeing. However the Charity only offers riding and not carriage driving.
The Charity provides therapeutic riding to benefit the health and wellbeing of children and adults with both physical and mental disability and learning difficulties. The facilities for riding is provided at the Pembroke Centre, Home Farm Road, Wilton. Wilton Riding for the Disabled operates in school term time, on Wednesday to Friday 9.30am to 2.30pm and Saturday 9am to 12pm.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The Charity has continued to work to achieve the aim in its Mission Statement:
RIDING:
Wilton RDA - despite the Covid Pandemic - continues to provide life-enhancing and therapeutic riding to children and adults. Our rider numbers are down this year from about 120 a week to 80-90. We are still running blocks of 12 weeks. This decrease in numbers is due to the fact that the schools are still not able, in most cases, to get their pupils up to the Pembroke Centre to ride. We are hopeful 2022 will see an improvement in this. We have a sizeable waiting list - and this means we are able to start offering rides to some new riders where there are gaps in the riding schedule.
We are still offering non-riding sessions to those with mental health problems, and "rainbow rides" to pre-school children who are showing signs of anxiety about re-joining mainstream life after so many quiet months of lockdown at home. These - along with "own a pony weeks in the holidays - have been a huge success.
The £10 contribution towards the ride (which now costs us £28 per session to put on) has been fully started now - and is not a problem. For those who struggle to pay - there is a fund, the Pat Burgess Fund, which they can apply to for funding their rides. This fund was set up with the money donated in the memory of our founder Pat Burgess who sadly died last year.
HORSES:
We currently have 15 horses and ponies. The Trustees would like to thank Claire Hacker and Sally Lefroy and all the volunteers who look after them so well - and undertake all the out of hours feeding and care on the non-riding days.
There has been more work this year on repairing fencing - and we have a budget to cover this going forward as more will need to be done. We replaced the old shelter that was in danger of collapse. A new electrical supply was added to the end of the indoor arena which will be very useful when we are holding events.
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
COACHING AND TRAINING:
The Coaching reviews were suspended this year - but we hosted a regional coaching review event in the summer to keep coaches up to date with new coaching ideas. We also ran the normal September training days for our volunteers.
STAFF and VOLUNTEERS:
With fewer riders, we have needed fewer volunteers at the Centre. A riding schedule is now in place for each riding day with named slots for volunteers. This very specific allocation of volunteering jobs has been well received and will continue. We are hugely grateful to all our volunteers. It has not been an easy year - and their continued support and enthusiasm has been wonderful and much appreciated. Out of Covid - we now have a weekly yoga class for our volunteers. This is a great success - and has contributed financially to the running of the centre as an added bonus.
We have started to introduce fixed terms for most Trustees. 3 years - plus an extra 3 if possible. There is now an operations team which handle more of the day to day running of the centre. Sally Lefroy and Jo Pay have stepped down as Trustees and joined the operations team. We are so grateful for all they contributed as Trustees. Philip Maclean and Trudy Wormsley-Smith have joined the Trustee board. Karen Manning has also retired as both Trustee, and Riding co-ordinator. She will be much missed too - and very many thanks for all she did for Wilton RDA. Her work with riding coordination has now been taken up by Fiona Larkin as a part time paid role. She works in the office on riding mornings - as Sally Newman has stepped down as Office Manager, due to her husband's ongoing ill health and her need to isolate on his behalf. Claire Hacker continues to grow into her role and does an excellent job as our Centre Manager.
FUNDING and FUNDRAISING:
We continue to be in a sound financial state. We benefited from the furlough scheme and a £20,000 legacy during the last year has helped enormously. We ran a Wilton 100 fundraising event in June this year. Very many thanks to all those that took part. We raised £3,618.84. We had those who rode 100 km on a bike - to a volunteer paying 100 tunes on her accordion! The 200 Club, Adopt a Pony, Stash the Cash and other regular fundraising schemes have continued successfully.
Over the next year - we need to step back up with our riding numbers and make sure that all our volunteers who undertake extra roles are all happy to do so - and co-ordinate with each other. As ever - running an organization with so many volunteers - good communication seems to be the key to everything.
As Chairman, I would like to thank all the Trustees for the work and time they put in - specially to Tricia Drew our Treasurer. We are so lucky to have her. The Trustees in turn would like to thank all those individuals who put so much care and dedication into making things work so effectively and happily at Wilton RDA.
Alex Hill Chairman of Trustees.
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Achievements and performance
a. Key performance indicators
The charity's resources increased by £19,642 (2020 decreased £29,426) during the year, represented by net assets of £381,905 (2020 £362,263) at the year end.
b. Review of activities
The charity had total incoming resources of £95,081 (2020 £69,770), the principal source of funds being from donations. Expenses were £65,740 (2020 £99,196)
Among the donations for the year was a donation from Wilton Middle School of £8,000.
Other trading activities consist of fund raising from the Wilton 100 fundraising event in June this year.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue In operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies
b. Reserves policy
Unrestricted funds at the year end totalled £322,489 (2020 £301,509). Of this £106,929 (2020 £106,929) has been designated for a particular purpose leaving a balance of £215,560 (2019 £194,580) in the general fund after legal, planning and accountancy costs.
These represent unrestricted, undesignated funds available for The Charity's ordinary purposes of running the centre, Any funds which are in excess of these costs and surplus to requirements are to be utilised for the replacement/refurbishment of buildings and ancillary riding areas.
Unrestricted funds Includes designated funds of £70,000 held for the replacement/refurbishment of buildings; and in addition, donations towards clubroom furniture, a field shelter, the horse Bertie and the audio visual equipment, which are being written down over the course of each of the assets estimated lifetime. Designated monies of £522 are also still held towards the cost of a new horse not yet purchased.
c. Material investments policy
The investment policy has been to hold funds in the COIF deposit fund. However during the year surplus funds have been invested in a two year bond with Hampshire Trust Bank.
d. Principal risks and uncertainties
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems and procedures
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
are In place to mitigate our exposure to the major risks
Structure, governance and management
a. Constitution
Wilton Riding for the Disabled Association is registered as a charitable company limited by guarantee and was set up by and constituted under the Memorandum of Association on 24 July 2014. It is a registered charity, number 1158881.
b. Structure and governance
Wilton Riding for the Disabled Association (The Charity) Is a company limited by guarantee registered In England and Wales with company number 09146301. It was Incorporated on 24 July 2014 with the intention of taking over the activities of the The Wilton Group of The Riding for the Disabled Association (The Group), registered charity number 1074175, which was created in February 1999.
The Charity was registered with the Charity Commission on 16 October 2014 with charity number 1158881 and the assets of The Group were transferred to The Charity on 31 March 2015.
The Group and now The Charity operate under the umbrella of the Riding for the Disabled Association incorporating Carriage Driving which Is a charity registered under the Charities Act 1960 with registered number 244108 (The Association). The Association is a federation of separate member groups of which The Charity (and formerly The Group) Is one such member. The Association's headquarters are at Norfolk House, 1a Tournament Court, Edgehill Drive, Warwick, CV34 6LG.
The Charity is governed by the memorandum and articles.
c. Methods of appointment or election of Trustees
Management of the company (Wilton RDA) is the responsibility of the Trustees who are elected every year at the AGM, and if brought on board mid-year, are co-opted until such time they are elected formally at the next AGM. There are currently 10 Trustees, Sally Lefroy and Jo Pay have stepped down as Trustees and joined the operations team and Philip Maclean and Trudy Wormsley-Smith have joined the Trustee board. The Trustees meet at least 6 times a year, and liaise closely with both the VC's and the Centre Manager.
The Trustees normally try to enlist from the volunteers who are already formally registered with The Charity, but occasionally it proves necessary to search rather wider afield.
d. Policies adopted for the Induction and training of Trustees
Induction of new Trustees is dealt with by following the guidance laid down in the RDA National's Membership Manual which, inter alia, requires all new trustees to read the relevant Charity Commission publications.
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2021
Achievements and performance (continued)
e. Management
It is the duty of Trustees to oversee the control of the Wilton RDA, and its property and funds. They have a duty to plan for a successful future for the centre, and provide value for money from any capital expenditure that is required.
Company law requires the charity Trustees to prepare financial statements for each year which gives a fair view of the state of affair of the charitable company and of the incoming resources and application of resources, Including the Income and expenditure, of the charitable company for that period.
It is the Trustees responsibility to make sure the appropriate risk assessments for the centre, and the activities taking place therein, are produced. Also, that all insurance policies are kept up to date.
Trustees must ensure GDPR Implementation is applied, and to this end has a Data Protection Policy and a Group Privacy Policy both of which are displayed on the club room notice board.
Claire Hacker continues in the role of Centre Manager this year -and it is really beneficial to link the individual riding days together, and has added to the efficient running of the riding we offer, and to the smooth running of the Pembroke Centre.
f. Maintenance
There has been more work this year on repairing fencing - and we have a budget to cover this going forward as more will need to be done. We replaced the old shelter that was in danger of collapse. A new electrical supply was added to the end of the indoor arena which will be very useful when we are holding events.
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 4 November 2021 and signed on behalf of the board of trustees by:
Mrs Drew - Treasurer Trustee
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Wilton Riding for the Disabled Association
Year ended 31 March 2021
I report to the trustees on my examination of the financial statements of Wilton Riding for the Disabled Association ('the charity') for the year ended 31 March 2021.
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 charity’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
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 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 accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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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).
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.
Sarah Hughes-Williams Macdees Accountancy Limited Independent Examiner
1 Pennys Lane Wilton Salisbury Wiltshire SP2 0BE
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2021
| 2021 | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 61,702 | 8,361 | 70,063 |
| Other trading activities | 6 | 23,922 | – | 23,922 |
| Investment income | 7 | 1,096 | – | 1,096 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 86,720 | 8,361 | 95,081 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 75,435 | – | 75,435 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 75,435 | – | 75,435 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in funds | 11,285 | 8,361 | 19,646 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 301,509 | 60,750 | 362,259 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 312,794 | 69,111 | 381,905 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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 11 to 20 form part of these financial statements.
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Statement of Financial Position
31 March 2021
| 2021 | ||
|---|---|---|
| Note | £ | |
| Fixed assets | ||
| Tangible fixed assets | 15 | 227,220 |
| Current assets | ||
| Stocks | 16 | 1,407 |
| Debtors | 17 | 7,872 |
| Investments | 18 | 80,253 |
| Cash at bank and in hand | 78,391 | |
| ৄৄৄৄৄৄৄৄৄ | ||
| 167,923 | ||
| Creditors: amounts falling due within one year | 19 | 13,238 |
| ৄৄৄৄৄৄৄৄৄ | ||
| Net current assets | 154,685 | |
| ৄৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 381,905 | |
| ৄৄৄৄৄৄৄৄৄ | ||
| Net assets | 381,905 | |
| ৶৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | ||
| Restricted funds | 69,111 | |
| Unrestricted funds | 312,794 | |
| ৄৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 21 | 381,905 ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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;
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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.
The statement of financial position continues on the following page. The notes on pages 11 to 20 form part of these financial statements.
9
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2021
These financial statements were approved by the board of trustees and authorised for issue on 4 November 2021, and are signed on behalf of the board by:
Mrs Drew - Treasurer Trustee
The notes on pages 11 to 20 form part of these financial statements.
10
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
Wilton Riding for ths Disabled Association is a charitable company limited by guarantee incorporated in England and Wales with the company number 09146301. Its registered office is 4 St Albans Close, Bishopdown Farm, Salisbury, Wiltshire, SP1 3FN. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, ths liability in respect of the guarantee is limited to f 1 per member of the Charity. The company is also registered with the Charity Commission and its registered number is 1158881.
2. Statement of compliance
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, 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 principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards(FRS 102)have been followed,subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain Ihe Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Patricia Drew
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
3. Accounting policies
Basis of preparation
The financial statements have been prepared to give a 'true and fair' view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK end Republic of Ireland (FRS102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Wilton Riding for the Disabled Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The most significant area of uncertainty for the year ending 31 March 2021 is the effect of the coronavirus COVID-19 pandemic. The charity had to close due to the Government guidelines in March 2019.
Going concern
Although there are uncertainties resulting from the Coronavirus pandemic, the Trustees consider that the Charity is a going concern and the accounts have been prepared on that basis. For further Information ses note 27.
Disclosure exemptions
No cash flow statement has been presented for the company.
No key jugements and estimations have been set for this year.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment Income, gains and losses are allocated to the appropriate fund
12
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Incoming resources
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Ths recognition of Income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Gifts donated for resale are included as income when they are sold. No amounts are included in ths financial statements for services donated by volunteers.
Income tax recoverable In relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and ths amount of the obligation can be measured reliably, Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs,including support costs involved in undertaking each activity. Direct costs attributable to a single ectivity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to ths governance of the company apportioned to charitable activities.
All expenditure is Inclusive of irrecoverable VAT.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
13
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can bs estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Investments
Current asset Investments comprise cash or cash equivalents with a maturity date of one year or more from the date of acquisition or opening of the deposit or similar account.
Tangible assets
Tangible fixed assets costing £250 or more are capitallsed and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
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:
| Centre upgrades | - | over the estimated life spans of the various assets |
|---|---|---|
| Office quipment and tack | - | 25% reducing balance |
| equipment | ||
| Horses and ponies | - | 10% straight line |
| Solar panels | - | over 20 years for the solar panel and over 12 years for the |
| inverter | ||
| Indoor riding school | - | over the period of the lease |
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Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Debtors
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
This Company operates a defined contribution pension scheme and the pension charge represents the amounts payables by the Company to the fund in respect of the year.
4. Limited by guarantee
Wilton Riding for ths Disabled Association is a charitable company limited by guarantee incorporated in England and Wales with the company number 09146301. Its registered office is 4 St Albans Close, Bishopdown Farm, Salisbury, Wiltshire, SP1 3FN. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, this liability in respect of the guarantee is limited to £1 per member of the Charity. The company is also registered with the Charity Commission and its registered number is 1158881.
15
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations (Non-regular) | 35,620 | – | 35,620 |
| Donations (Regular) | 146 | – | 146 |
| Upgrade Donations & Grants | – | 8,361 | 8,361 |
| Collecting Boxes | 1,107 | – | 1,107 |
| Grants | |||
| Grants Income | 24,829 | – | 24,829 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 61,702 | 8,361 | 70,063 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Other trading activities | |||
| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| £ | £ | ||
| Various fund raising events | 13,575 | 13,575 | |
| Use of school | 4,951 | 4,951 | |
| Sale of goods | 3,896 | 3,896 | |
| Sale of excess solar energy | 1,500 | 1,500 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 23,922 | 23,922 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
6. Other trading activities
7. Investment income
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Bank interest | 1,096 | 1,096 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Event expenses | 51,029 | 51,029 |
| Support costs | 24,406 | 24,406 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 75,435 | 75,435 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
16
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | |||
| directly | of activities | Support costs | 2021 | ||
| £ | £ | £ | £ | ||
| Event expenses | 49,568 | 1,461 | 24,406 | 75,435 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 10. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | Total 2021 | ||||
| £ | £ | ||||
| Staff costs | 7,386 | 7,386 | |||
| General office | 3,087 | 3,087 | |||
| Governance costs | 1,346 | 1,346 | |||
| Support costs | 12,587 | 12,587 | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| 24,406 | 24,406 | ||||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| 11. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2021 | |||||
| £ | |||||
| Depreciation of tangible fixed assets | 9,693 | ||||
| ৶৶৶৶৶৶৶ | |||||
| 12. | Independent examination fees | ||||
| 2021 | |||||
| £ | |||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 1,145 | |||
| ৶৶৶৶৶৶৶ | |||||
| 13. | Staff costs |
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | |
|---|---|
| £ | |
| Wages and salaries | 27,015 |
| Employer contributions to pension plans | 475 |
| ৄৄৄৄৄৄৄৄ | |
| 27,490 | |
| ৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 2. The average number of full-time equivalent employees during the year is analysed as follows:
| equivalent employees during the year is analysed as | follows: |
|---|---|
| 2021 | |
| No. | |
| Number of staff | 2 |
| ৶৶৶৶ |
17
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
13. Staff costs (continued)
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
| Office and | Long-term | |||||
|---|---|---|---|---|---|---|
| Freehold | Fixtures and | Other fixed | Computer | leasehold | ||
| property | fittings | assets | equipment | property | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At 1 Apr 2020 | ||||||
| and 31 Mar 2021 | 169,250 | 18,257 | 49,912 | 7,271 | 40,688 | 285,378 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||||
| At 1 Apr 2020 | 16,329 | 10,395 | 12,882 | 2,901 | 5,958 | 48,465 |
| Charge for the | ||||||
| year | 4,273 | 1,965 | 1,759 | 504 | 1,192 | 9,693 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 Mar 2021 | 20,602 | 12,360 | 14,641 | 3,405 | 7,150 | 58,158 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||||
| At 31 Mar 2021 | 148,648 | 5,897 | 35,271 | 3,866 | 33,538 | 227,220 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
16. Stocks
2021 £ Raw materials and consumables 1,407 ৶৶৶৶৶৶৶
17. Debtors
2021 £ Trade debtors 3,264 Prepayments and accrued income 4,608 ৄৄৄৄৄৄৄ 7,872 ৶৶৶৶৶৶৶
18
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
18. Investments
| 2021 | |
|---|---|
| £ | |
| Short term bonds | 25,000 |
| COIF deposit fund | 55,253 |
| ৄৄৄৄৄৄৄৄ | |
| 80,253 | |
| ৶৶৶৶৶৶৶৶ |
19. Creditors: amounts falling due within one year
| 2021 | |
|---|---|
| £ | |
| Trade creditors | 6,866 |
| Accruals and deferred income | 6,372 |
| ৄৄৄৄৄৄৄৄ | |
| 13,238 | |
| ৶৶৶৶৶৶৶৶ |
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 £475.
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| General funds | 194,580 | 86,720 | (75,435) | 205,865 |
| Designated Fund | 106,929 | – | – | 106,929 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 301,509 | 86,720 | (75,435) | 312,794 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Restricted funds | ||||
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| Restricted Fund | 60,750 | 8,361 | – | 69,111 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
19
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
22. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 227,220 | 227,220 |
| Investments | 80,253 | 80,253 |
| Current assets | 87,670 | 87,670 |
| Creditors less than 1 year | (13,238) | (13,238) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 381,905 | 381,905 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
20