Company number: 09080110 Charity number: 1160676 COTSWOLD RIDING FOR THE DISABLED TRUSTEES REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024
CONTENTS Page ADMINISTRATIVE INFORMATION REPORT OF THE TRUSTEES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES STATEMENT OF FINANCIAL ACTIVITIES 10 BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 13-26
COTSWOLD RIDING FOR THE DISABLED ADMINISTRATIVE INFORMATION Charity Number 1160676 Company Registration Number 09080110 Registered and Administrative Office Jackie Brutton Riding School Prestbury Park Racecourse Cheltenham Gloucestershire GL50 4SH Company Secretary B M Adams (reSned 1510612024) TrusteeslDirectors B M Adams (resigned 1810712024) LMCBaker M Ryan - Treasurer {resigned 2311012023) S R Samuel - Treasurer (appointed 2910212024 and resigned 1810712024) J McNaill-Wilson D Smith - Chairman (resigned 2311012023) T C Baylis - Chairman (appointed 04110123) L Brookes M Pomfret M Brigden (resigned 0210812024) S Pidgeon H Earl (appointed 0610712023) L M Dennison (appointed 1910112024) H M Hartley Green (appointed 1210112024) All Trustees served throughout the year untess otherwise noted Key Management Personnel Lesley Gorton - Commercial and Fundraising Manager Debbie Powell - General Operations Manager The Twstees listed above Independent Examiner Mr S Lawrence Hazlewoods LLP Windsor House Bayshill Road Chettenham Gloucestershire GL50 3AT Bankers Lloyds Bank PIC Business Banking P O Box 1000 BX1 1LT
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) For the year ended 31 March 2024 The Trustees present their report and the financial statements for the year to 31 March 2024. The Trustees, who are also directors for the purposes of company law and who have served during the year and up to the date of this report, are set out on page 1. structure, Govemance and Management Cotswold Riding for the Disabled was incorporated on 10 June 2014. The Charity is a Company Limited by Guarantee - Number 09080110 and is registered with the Charities Commission Number 1160676. The unincorporated Charity transferred its assets and liabilities to the Company on 1 Sl April 2015. The Charity's governing document is the Memorandum and Articles of Association. The Trustees confirm that they have complth with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Trustees are appointed to post by members at the Annual General Meeting. Trustees serve up to 2 tems of 3 years. A scheme of rotation exists to ensure continuty of leadership while allowing for the board to be refreshed. The board will Copt new Trustees as and when required during the year and their appointment referred to the subsequent AGM for confirmation. The board maintains and reviews a skills audit and new appointments are recommended based on the need to maintsin an appropriate rdnge of skills, experience that will support the organisation in delivering the business plan. New Trustees undergo a briefing on the organisation. its aims and objectives and their legal obligations under Charity and company law. All trustees ar6 encouraged to undertake additional training as their roles and interests require. The Board undertakes an annual review of the organisation to ensure that the business plan. fundraising strategy, and staffing structure are aligned and will support the strategic objectives and operational delivery plans. The Tfustees are confident that they have the team and tools in place with which to build and grow the Charty. The Board are committed to investing in the volunteers and professional staff to make sure that they have all the support that they require 8nd that our participants receive a professional and consistent highqualty experience. The training scheme developed for volunteers is reviewed and updated for best pract0 on a regular basis and is supplementèd with 8ddition81 training for staff and Trustees. The Board undertakes a rolling review of the policy library to provide up to date best practice and support the staff and volunteers. A similar review of the Business Plan and Fundraising Strategy is also in place. The focus is on maintaining the existing financial stability whilst adding new and sustainable income streams. This will allow us to continue to provide riding at a subsidised rate whilst maintaining the high standards across the organisation for which rt has become renowned. The Charity is a member of National Rtding for the Disabled Association (RDA UK) based in Warwick. It is a limited Company and registered Charity in its own right and relies totally on its own fundraising to raise annual runnlng costs of approximately £300.000. Existing facillties are secured on a twenty-fr4e-year lease (due to expire in 2036) with the Jockey Club at an annual peppercorn rent of £1.00. In addition, the Charity owns fourteen acres of freehold grazing land situated wsthin 0.5 miles of the main riding arena.
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) (contlnued) For the year ended 31 March 2024 Obje¢tlves and Activltles We provide therapy, enjoyment, and a sense of achievement for aduY(s and children with a wide range of physical or mental disabilrties and learning difficulties through a range of activities including riding and other equine-based activrties. Our aim is to help each of our partlGiP8nts to reach their full potential; 'It's what you CAN do that counts. We provide a safe, friendly. and supportive environment for people of all ages living with a disabilty. Riding activities include both group and one-tone lessons. Non-riding activities include stable management and horse care. In June 2022, the Charity was awarded the Queen's Award for Voluntary Service. This is the highest accolade given for volunteering. The Board believes that working collaboratively with other organisations in the voluntary sector will bring greater strength to the Charity and bring new opportunittes for disabled people in the communty. We offer a range of unmounted activities using our ponies and facilities such as our sensory garden. This means reaching out to groups involved with people living with dementia and other lrfe-altering conditions. also famity days for support groups, such as Wellchild and Heart Heroes. The Cotswold RDA were the first group to introduce 'Tea with a Pony,, a wonderful initiative aimed at those living with dementia. This initiative is now being rolled out by RDA groups nationwide. Achlevements and Perforniance Attracting and retaining new volunteers is an ongoing challenge and is fundamentsl to delivering increased numbers of high-quality rider experiences Cotswold RDA is adversely affected, as are many UK businesses and charrties, by the cost of living crisis. Th8 organisation continues to seek ways to maximise its reach and impact wrth an ongoing focus of giving one off opportunrties to those on their waiting list where regular sessions are unavailable. Supportlng and Communlcating wlth our Communlty We continue to keep in touch with our riders and volunteers through a range of social media. Our Facebook and Instagram pages are well supported by our Cotswokl RDA 'Family' and our quarterly Pony Post continue5 to be well received. Our ASDAN courses (extemally verified qualifications that help young people develop life skills and equine knowledge) continue to grow in number and are also being adopted by other RDA groups. The Trustees recognise and thank the stsff fortheir hard work and commitment to the Charity. They also recognise and thank the wonderful group of committed and dedicated volunteers who tum out in all weathers so that the Charty can make sure their riders achieve the very best they can whatever their disability, background or age.
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) (contlnued) For the year ended 31 March 2024 Flnanclal Revlew The attached financial ststements have been prepared to compty with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with tha Financial Reporting Standard applicable in the UK and Républic of Iraland (FRS 102) - (Charittes SORP (FRS 102)). Flnance- Cost and Funding In a nomial year, the Charty receives no government core grants, service level agreements or contracts to cover revenue costs and depends on fundraising. donations, fees from riders and funding from small and medium sized charitable trusts. This has been a successful strategy and the organisation has a long track record of achieving its targets. Fundraising continues to be challenging particularly for meeting revenue costs. The key areas that will continue to generate income: Subsidised fees from riders. Subsidised fees frorn groups and organisations Hire and bookings of the arena Training and leaming programmes. partly based on donations Sponsorship of ponies. equipment and buildings Unmounted activities for the wider disabled community e.g. Tea with a Pony Fundraising and grants Retail In line with the fundraising strategy, the charity established a subsidiary trading company to set up and run retail units. The first outlet within the Longlevens Mid-counties CO-OP (wened in September 2021 and is trading strongly. After a series of delays the shop in Tewkesbury High St opened in December 2021. Trading is broadly in line with the business plan. Plans for Future Years To ensure we continue to deliver the Charity's objectives. we have a clear vision of how this is to be achieved over coming years. Fundamental to this is the arena development, The Board of Trustees and management team held a number of strategic review meetings in Q1 2024. The agreed strategy sought to address the challenges associated with the development of the arena and the anticipated increase in activity levels associated with the enhanced facilities. The whole team is totslly committed to continuing to make a difference to our disabled participants by offering riding lessons and other activities - all with ponies at the heart of what we do.
COTSWOLD RIDING FOR THE DISABLED
REPORT OF THE TRUSTEES IINCLUDING DIRECTORS, REPORT) Icontinued)
For the year ended 31 March 2024
Building our seNKes
The proposed arena Development Project consists of classrooms, offices, comfortable waiting and
viewing area for participants, familieslcarers, volunteers 8nd staff. a purpose-built space for the
Equiciser (Mechanical Horse) etc. To that end, by March 2024, the Board has allocated legacies
and additional unrestricted funds of £250,000 from Its general fun(J towards thls project. Planning
permission was received in May 2022 and the capital fundraising exercise began in Winter 2022123.
The updated Business Case covers the following -
To create a flexible. climate
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) (contlnued) For the year ended 31 March 2024 Plans for Future Years (contlnued) We operate 48 weeks of the year. offering riding in the school holidays for regular riders as well as wherever possible. riders on the waiting list. At all times Trustees are conscious of the responsibility they hold to safeguard the charity's funds and enter into a robust business planning and risk management exercise before commttting to a project. ReseNes pollcy The Charity has developed and continues to develop a wide range of income%enerating initiatives to support its charitable activities. depite which it remains heavily reliant on voluntsry donations. The majority of this income has to be generated afresh each year which is reflected in the Charity's resetves policy. The policy is to maintain a minimum reserve equal to five months operational costs.. At the same time. in order to develop the operation and complete Phase 11, the Trustees have set aside funds towards this further capital development so that it can demonstrate to potential donors th8t the Charity is able to meet matched funding requirements. As can be seen from the Financial Statements that follow, the Charity is meeting this policy and has set procedures in place to ensure it is maintained. Pay policy for key management personnel The Trustees consider that the Board of Trustees, and the Operations Manager comprise the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day-to4ay basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees, expenses and related party transactions are disclosed in notes 10 and 20 to the accounts. The pay of the Operations Manager and other staff is reviewed annually based on performance and nomally increased in accordan with average earnings. The remuneration is set to ensure it is fair and will attract and retain staff of the appropriate calibre and experience required by the Charity. The Charity relies mainly on the donations and grants to support its charitable activities for which the Trustees would like to acknowledge and thank those parties for their continued support.
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) (continued) For the year ended 31 March 2024 Golng concern The Trustees have prepared budgets that they believe are prudent to include only conseNative estimates of donations 8nd grant income. Accounts are monitored by way of a monthly finance reports for review by the bo8rd. Costs 8re closely controlled whilst having regard for the health and safety of staff, volunteers. participants and ponies. During the year, the Trustees have reviewed the updated forecasts. budgets and business models. Most recently, the coSt-11vIng crisis, as well as the economic climate. has presented fundraising challengas. The Trustees expect cash balances and reserves to remain strong and that the Charity will be able to meet obligations as they fall due for the next 12 months. For this reason, the Trustees continue to adopt the going conceffl basis in the financial statements. Statement of Trustees, responsibilitles The directors are responsible for preparing the Directors, Report and the accounts in accordance with applicable law and regulations. Company law requir&s th8 directors to prgpar8 accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordan with United Kingdom Generdlly A¢pted Accounting Practice (United Kingdom Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they grve a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements. the Trustees are required to=_ Select suitable accounting policies and then apply them consistently,. Observe Methods and principles in the Charities SORP (Accounting and Reporting by Charities Statement of Recommended Practice), Make judgements and estimates that are reasonable and prudent", and Prepare the financial statements on the going concern basis. unless it is inappropriate to presume that the Charity will continue in operation. The Trustees have overall responsibility for ensuring that the company has an appropriate system of controls, financial and othe[se. They are also responsible for keeping proper accounting records, which 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 PventIon and detection of fraud and other irregularities. Independent Examlners The Trustees recommend that Hazlewoods LLP remain in office until further notice.
COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT) (continued) For the year ended 31 March 2024 Small Company Exemptions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. By order of the Trustees Tim Baylls Trustee & Chairman of the Board 0811012024 Date
COTSWOLD RIDING FOR THE DISABLED INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS For the year ended 31 March 2024 I report to the Charty trustees on my examination of the financial statements of Cotswold Riding for the Disabled for the year ended 31 March 2024, which comprise the statement of financial activities, the balance sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein. R8spoctlve responsibilltles of Trustees and Examlner As the Charity's Trustees of the Company (who are a180 the Directors of the company for the PUTposes 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.) and the Charrties Act 2011 ('the 2011 Act.). Having satisfied myself that the financial statements of the Compsny are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity's financial statements as Garried out under sedion 145 of 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 The Company's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the exarnination which gNes me cause to believe that. in any material respect: The acGounting rp¢ords were not kept in accordance with section 386 of the Companies Act 2006: or the financial statements do not accord with such records" or the financial statements do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the financial statements give a 'true and fairf view which is not a matter considered as part of an independent examination: or the financial statements have not been prepared in accordance with the methods and principtes of the Charities SORP (FRS102). I have considered the disclosures made in Note 2 to the fin8nci81 ststements with regards to the Charty's abilÈiy to continue as a going concem. I have no concems 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. 1111012024 Scott Lawrence FCA, DChA HAZLEWOODS LLP Windsor House Bayshill Road Cheltenham GL50 3AT Date
COTSWOLD RIDING FOR THE DISABLED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2024 Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Notes Incomè and endowments from Donations and legacies 124,682 60,882 185,564 112,732 CharitabEe activities 112,702 112,702 114,768 Other fundraising activities 10,133 10,133 40,606 Investment income 13,032 13,032 855 Total Income 260,549 60.882 321.431 268.961 Expenditure on Raising funds (14,061) (14.061) (10,839) Charitable activities 8 (316,008) (14,947) (330,955) (295,202) Total expenditure (330.069) (14,947) (345.016) (306,041) Net income l (expenditure) (69,520) 45,935 (23,585) (37,080) Transfer between funds 15 17.439 (17,439) Net movement in funds (52.081) 28,496 (23.585) <37.080) Total funds brought fopward 757,206 32,589 789,795 826,875 Total funds carried forward 15&16 705.125 61,085 766,210 789,795 The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All the above amounts relate to continuing activities. None of the company's activlties was acquired or discontinued during this financial year. io
COTSWOLD RIDING FOR THE DISABLED BALANCE SHEET As at 31 March 2024 Charity number: 1160676 Company number: 09080110 2024 2023 Notes FIXED ASSETS Tangible assets Investments 346.767 358,241 12 346,768 358,242 CURRENT ASSETS Stock Debtors Cash at bank and in hand 1,348 61,191 385,491 1,113 56,462 388,784 13 448,030 446.359 LIABILITIES Creditors." amounts due wlthln one year 14 (28,588) (14,806) NET CURRENT ASSETS 419,442 431.553 TOTAL NET ASSETS 766.210 789,795 THE FUNDS OF THE CHARITY Restricted funds Unrestricted funds Designated funds 17 16 16 61,085 455,125 250.000 32,589 507.206 250,000 TOTAL FUNDS 15 766,210 789,795 The Trustees. statement8 required by Section 475 are shown on the following page which forms part of this balance sheet. li
COTSWOLD RIDING FOR THE DISABLED BALANCE SHEET (continuedl As at 31 March 2024 Trustees, Statements required by Sectlon 475 In approving these financial statements as Trustees of the company, the Trustees hereby confirm'.- (a) For the year to 31 March 2024, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies; (b) The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006. (c) The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the prepardtion of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the Trustees and authorised for issue on . 0811012024 and signed on its behalf by- Tim Baylls Trustee & Chaiman of the Board Judy Johnston Trustee & Treasurer 12
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 GENERAL INFORMATION The company is a private company limited by guarantee. incorporated in England and Was, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of its registered office is: Jackie Brutton Riding School Prestbury Park Racecourse Cheltenham Gloucestershire GL50 4SH ACCOUNTING POLICIES The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. Basis of Accounting The financial statements have been prepared in accordance with 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) {Ch8rities SORP {FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Cotswold Riding for the Disabled meets the definitÈon of a public benefit entty under FRS102. Assets and Ilabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant accounting policy note(s). Reconclliation with previous Generally Accepted Accounting Practice In preparing the financial statements. the Trustees have considered whether in applying the accounting policie$ requirèd by FRS102 and the Charities SORP FRS102 th8 restatement of comparative items was required and have concluded that no restatements were required. Cash Flow The Charity has taken advantsge of the exemption in FRS102 from the requirement to produce a cash fiow statement because it is a small Charity. Going Concern The Charity relies on donations and trusts to support its charitable activities. The Trustees have prepared the financial statements on a going concern basis on the assumption that their funding will be met. Due to the nature of cash flows, as explained on page 7. there is always some uncertainty with reg8rds to income which relies heavily upon donations. The tru8tee8 review forecasts, budgets and cashflow forecasts and adopt the going concern basis in the financial statements on the basis that cash balances and reserves remain strong and that the Charity will be able to meet obligations as they fall due for the next 12 months from approval of these financial statements. 13
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the year ended 31 March 2024 ACCOUNTING POLICIES (continued Going Concern (continued) Should the Charty not be able to continue as 8 going concem, adjustments would be necessary to write down the value of assets to their recoverable amounts, make provisions for further liabilities that would arise on cessation of activities and to reclassfy frxed assets and non-current assets and liabilities. Income All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonabk accuracy. The following specific policies are applied to particular categories of income,. income received relating to future activities is deferred. Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entrtlement is not conditional on the delivery of a specffic performance by the Charity are recognised when the Charty become unconditionally entitled to the grant. Donated services and facilities are included at the value to the Charrty where this can be quantifted. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activtties for generating funds when they are sold. Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable. Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and it is reported as part of the expenditure to which it relates. Costs of generating funds comprises of the costs associated with attracting voluntsry income. Charitable expendtture comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It comprises costs. including personnel costs. which can be allocated directly to activities. Fund Accounting Funds held by the Charfty are efther:. Unrestricted general funds - these are funds which can be used in accordance with the charitable objectives at the discretion of the Trustees. Designated funds- these 8re funds which the Charity has been able to set aside toward$ Phase 11 development which will include a warm space, classroom and offices and are included in unrestricted general funds. 14
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnu&d) For the year ended 31 March 2024 ACCOUNTING POLICIES {contlnued) Fund Accountlng (contlnued) Restricted funds- these are funds that can only be used for particular restricted purposes within the objects of the Charty. Restrtctions arise when specifted by the donor or when funds are raised for particular restricted purp¢)ses. Explanation of the nature and purpose of each fund is included in the notes to the financial statement. Tanglble Flxed Assets and Depreclatlon Tangible fixed assets costing more than £1.000 are capitalised and included at cost. together with any incidental costs of acquisition. Depreciation aims to write down the cost or valuation of all tangible fixed assets excepting freehold land over their expected useful economic lives. The rates generally applicable are:_ Buildings Motor vehicles Other equipment 100/0 Straight Line 25Yo Reducing Balance 25% Reducing Balance Taxatlon The Charity's adivities fall within the exemptions afforded by the provision of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these financial statements. The company is not registered for VAT. Leaslng Rentals payable under operating leases are charged against income on a straight line basis over the lease tem. DONATIONS AND LEGACIES Unre$trlcted Restrlcted Funds Funds Total 2024 Total 2023 Donations and Legacies Legacies and funeral bequests Donations Trust & Grants as donations 57,500 58,882 8.300 57.500 58,882 8.300 4,960 67,778 8,500 Other income Restricted income 60,882 60,882 31,494 Total voluntary Income 124,682 60.882 185.564 112,732 Of the income received of £185.564 in 2024 (2023.. £112,732), £124.682 (2023: £81,238) was unrestricted funds and £60,882 (2023: £31,494) was festricted funds. 15
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Lesson Income Use of School Livery CRDA Shows Other income 78,851 18.696 9,689 995 4.472 78,851 18,696 9,689 995 4,472 75,605 19.521 13,782 100 5,760 112.702 112,702 114,768 Of the income received of £112,702 in 2024 (2023: £114,768), all was unrestricted funds. INCOME FROM OTHER FUNDRAISING ACTIVITIES Unrestricted Funds Total 2024 Totsl 2023 Fund raising events Fund raising trading income Membership income Pony Sponsorship 4.579 3.952 627 975 4,579 3,952 627 975 36,311 3,432 514 349 10,133 10,133 40,606 Of the income receNed £10.133 in 2024 (2023: £40.606). all was unrestricted funds. INVESTMENT INCOME Unrestrlcted Funds Total 2024 Total 2023 Bank savings account Subsidiary loan interest Income from subsidiary 2,277 600 10,155 2,277 600 10,155 255 600 13.032 13.032 855 16
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued For the year ended 31 March 2024 COSTS OF RAISING FUNDS Unrostricted Funds Total 2024 Total 2023 Costs of generating voluntary income Fund raising 10.852 3.409 10,652 3,409 3,081 7,758 14,061 14,061 10,839 Of the expenditure of £14.061 in 2024 (2023: £10,839), all was charged to unrestricted funds. COSTS OF CHARITABLE ACTIVITIES Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Pony costs Health & Safety Establishment costs Travel & Transport Depreciation Loss on disposal of fixed assets Salaries Insurance Office costs Professional fees Support costs 44.918 864 19,308 4,418 37,107 7,515 52.433 30.755 1,586 23,959 832 38.750 181 167.049 8,848 8,374 9,840 5,027 5,482 24,790 4,418 37,107 174.690 8.340 9,045 514 16,804 1,950 176,640 8.340 9.045 514 16,804 316,008 14,947 330,955 295,202 Of the expenditure £330.955 in 2024 (2023.. £295,202), £316,008 (2023: £262,627) was Gharged to Un stricted funds and £14.947 (2023." £32,575) was charged to restricted funds. NET INCOME FOR THE YEAR 2024 2023 Net income is stated after charging: Depreciation Independent Examiner's fee Operating lease rentals- land and buildings 37,107 3,000 38,750 3,000 17
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnued) For th8 year ended 31 March 2024 10 EMPLOYEES 2024 2023 Wages and salaries Other staff costs 176.640 167,049 176.595 167,049 No employee received emoluments of more than £60,000 (2023: £60.000). Trustees, emoluments and expenses No Trustee has received remuneration during the year. During the year, one Trustee received reimbursed expenses of £472 {2023: No trustees received reimbursed expenses or remuneration) Key management personnel The key management personnel of the Charity comprise the General Manager. the Operational Manager and the Trustees. The total employee benefrts of key management personnel of the Charity were £55,539 (2023: £76,902). Number of employees The average monthly number of employees in the year, calculated on Ihe basis of full-time equivalents, was as follows: EMPLOYEES BY ACTIVITY 2024 Number 2023 Number Charitable activities 18
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024 11 TANGIBLE FIXED ASSETS Assets under Construction Freehold Land and Buildings Equipment Total Cost or valuation At 1 April 2023 483,113 129,355 612,468 Additions Disposals 25,633 25,633 At 31 March 2024 25.633 483,113 129,355 638,101 Depreciation At 1 April 2023 Charge for the year Eliminated on disposal 160,075 29,655 94,152 7,452 254,227 37.107 At 31 March 2024 189.730 101,604 291.334 Net book value At 31 March 2024 25,633 293,383 27,751 346,767 At 1 April 2023 323,038 35,203 358,241 Included in freehold land and buildings is freehold land of £180.000 which is not depreciated. 12 INVESTMENTS 2024 2023 Investments in subsidiaries 19
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024 12 INVESTMENTS {Continued) Detalls of undertakings Details of the investrnents in which the company holds 200h or more of the nominal value of any class of share capital are as follows.. Proportlon of shares held 2023 2024 Undertaking Registsred office Shareholdlng Cotswold RDA Trading Limited Jackie Brutton Riding School, Cheltenham Racecourse, Cheltenham, GL50 4SH Ordinary 100° 100° The principal activity of Cotswotd RDA Trading Limited is the retail sale of second-hand goo(Is in stores. It is used to operate the non<haritable activities of Cotswold Riding for the Disabled. For the year ended 31 March 2024. the activities and results of Cotswold RDA Trading Limited were: 2024 2023 Turnover Other income Staff costs Other charges 123,409 15.000 (63,791) (47,372) 130,849 1,028 (69,846) {49,292) Profft after tax 27,246 12.739 At 31 March 2024, Cotswold RDA Trading Limited had the following assets and liabilities: 2024 2023 Fixed assets Current assets Creditors: amounts due within one year 7,428 43,368 (44,025) 10,256 29,044 (49,618} Capital and reserves 6,771 {10,318) 20
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024 13 DEBTORS 2024 2023 Trade debtors Other debtors Prepayments and accrued income 15,132 39.787 6.272 5,956 43,078 7,428 61,191 56,462 14 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors Accruals and deferred income 13.657 2.474 12.457 5,387 5,739 3,680 28,588 14.806 15 ANALYSIS OF NET ASSETS BETWEEN FUNDING Unrestricted Funds Restrlcted Funds Totsl Funds Fund balances at 31 March 2024 as presented by.. Tangible fixed assets Current assets Current liabilities 346.768 386.945 (28.588) 346,768 448,030 {28,588) 61.085 705,125 61,085 766.210 21
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the year ended 31 March 2024 16 ANALYSIS OF UNRESTRICTED FUND MOVEMENTS At 1 Aprll 2023 Incoma Exp•ndlture Transfer from Rostricted At 31 March 2024 General Fund 757.206 260,549 (330.069) 17,439 705,125 757.206 260,549 (330,069) 17,439 705,125 Comparatlve Infomiation At 1 April 2022 Transfer from Income Expenditure Restricted At 31 March 2023 Gener81 Fund 775.546 237,467 (273,466) 17,659 757,206 775,546 237,467 (273,466) 17,659 757,206 Purposes of unrestricted funds Unrestricted funding covers all funding that contributes to providing riding facilrties to the disabled. The £17,439 (2023: £17.659) transferred from restrrcted funds were donations specifically given tOW8rds buildings, equipment. and other capital assets transferred to fixed assets on completion of purchase. The Trustees have allocated no further funds (2023: £250,000) of unrestricted funds towards the future planned Phase11 development of a wami area, classroom and offices. 22
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2024 q7 ANALYSIS OF RESTRICTED FUND MOVEMENTS At Transfer 1 April to 2023 Income Expendlture Unrestrlctad At 31 March 2024 Fund 1 Ponies Fund 2 Children in Need Program Fund 3 Stables & wam space Fund 4 Sensory Walk Fund 5 Tack & Equipment Fund 6 Mechanical Horse service Fund 7 Peaceful pony paddock Fund 8 Arena Sound System 6,732 (6,732) 28,567 20.000 (17,439) 31,128 595 (88) 507 282 10,200 (282) 10,200 500 (500) 180 {180) 2.250 2.250 Fund 10 Tea with a Pony Fund 12 Instructor Fund 13 Field Shelter. HGV lessons Fund 14 Riding support 215 (215) 10,000 (1,950) 8,050 8.950 8,950 5,000 (5.000) 32,589 60.882 (14,947) {17,439) 61,085 23
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) For the year ended 31 March 2024 17 ANALYSIS OF RESTRICTED FUND MOVEMENTS (CONTINUED) ComparatNe Infomiatlon At Transfer 1 April to 2022 Income Expenditure Unrestrlcted At 31 March 2023 Fund 1 Ponies Fund 2 Children in Need Program Fund 3 Stables Fund 4 Sensory Walk Fund 5 Tack & Equipment Fund 6 Mechanical Horse service Fund 7 Peaceful pony paddock Fund 8 Arena Sound System Fund 9 Arena Resurfacing Fund 10 Tea with a Pony Fund 11 Dishwasher 1.000 (1,000) 30.105 (30,105) 28.567 28,567 595 595 578 994 (1,290) 282 500 500 180 180 8,502 (6,252) 2,250 11.407 (11.407) 250 (35) 215 145 (145) 51.329 31.494 (32.575) (17,659) 32,589 24
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the year ended 31 March 2024 17 ANALYSIS OF RESTRICTED FUND MOVEMENTS (CONTINUED) Purpose of restrlcted funds Fund 1 Donated 8pecif1¢811y for the purchase of ponies. Fund 2 Donated specificalEy forthe introduction and implementation of after school and holiday riding sessions. Fund 3 Donated specrfically for the erection of Barn Style stables and the provision of a wami space. The Barn style stables were completed in the previous year and the balance will go towards Phase 11, the provision of a wam space. classroom etc. The transfer relates to restricted funds that have been spent as required by the donor on the stables and wami space. Fund 4 Donated t¢)wards the maintenance c¢Ysts of the Sensory Walk. Fund 5 Donated specifically towards costs for riding equipment and tack. Fund 6 Mechanical Horse Service charge. Fund 7 Donated to help towards costs for the peaceful pony paddock. Fund 8 - Donated specrfically towards costs for a new sound system in the arena. Fund 9 - Donated specrfically for resurfacing of the outdoor arena. Fund 10 - Donated specifically for Tea with a Pony related expenses. Fund 11- Donated specifically for the purchase of a new dishwasher. Fund 12- Donated specifically to pay for the cost of an additional instruGtor. Fund 13 - Donated specifically to pay for a fiekl shelter and 7.5 ton driving lessons for a groom. Fund 14- Donated specifically towards riding costs. 25
COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEMENTS (contlnued) For the year ended 31 March 2024 18 LEASE COMMITMENTS As at 31 March 2024 the company had annual commitments under non-cancellable operating leases as follows- 2024 2023 Building Within one year th one to two years Within and five years Over five years 13 14 Other Within one year Wrth one to two years lofithin Iwo and five years Over five years 409 103 409 409 103 512 921 Commitments undertaken on behalf of subsldlary Within one year With one to two years Within two and five years Over five years 7,875 22,200 22,200 51,800 7,875 96,200 19 COMPANY LIMITED BY GUARANTEE Cotswold Riding for the Disabled is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charrtable company in the event of its being wound up while he or she is a member, or within one year after he or She ceases to be a member. 20 RELATED PARTY DISCLOSURES At 31 March 2024 the company was owed £39.787 {2023: £43,078) by Cotswold RDA Trading Limited, its wholly owned subsidiary. This being a loan for £30,000 on which 2Y. interest is paid. The remaining balance to be paid by 3181 March 2025. 26