Company number: 09080110 Charlty number. 1160676 COTSWOLD RIDING FOR THE DISABLED TRUSTEES REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2025 CONTENTS Pag• ADMINISTRATIVE INFORMATION REPORT OF THE TRUSTEES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES STATEMENT OF FINANCIAL ACTIVITIES 10 8ALANCE SHEET NOTES TO THE FINANCIAL STATEMETrUS 13-26 COTSWOLD RIDING FOR THE DISABLED ADMINISTrATIVE INFORPAATION Chanty Number 1160676 Company Registration Number 09080110 Registered and Administrativ• Office jack￿ Bnjtton RKling School Pre6tbury Park Racec4)urso Chellenham Glwcestershire GLSO 4SH c￿panY S•cretary Ad￿$ (ra8vJn8d 151(W2024} L M Denni•M (•pwnted 1 SIW2024) TfUStee8fDirectorn B M Ad8ms (re8yned 18107r2024) L M C Baker (died 01103r2025) S R Samuel - Treasurer (reS￿ned 18107r2024) J McNeill-Wlson T C Baylis- Chairnian L 8rooke8 M Pcrfnlret M Bngden {mwn•d 02108r2024) S Pidgeon H Earl L M Denni80n H M Hart￿ Gr••n J A John8ton• - Treuurnr {apwnted 10108r2024) All Trust•e8 Mrved throughout the year unle88 Key Managemenl PerN>nnel Debbie P¢ywell - General Operations M8nag•r Th• Trn8te88 listed above Independent Examiner Mr S Lawrence Hazknoods LLP ndsor House 8ayshill Road Chenenham Gk￿c￿t•￿hif• GLSO 3AT Bankers Lloyds Bank P Busine88 Banking PO Box 1000 8x1 1LT COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES IINCLUDING DIRECTORS. REPORn For the year •nd•d 31 March 2025 The Tru8tee8 present their report and the financi81 statements for the year to 31 March 2025. The Trustees, who are 8180 directors for the purp08es of company law and who have seNed during the year and up to the date of this report, are 8el out on page 1. Structur•. Gov•rnanco and Managffii•nt Cotswold Riding for the Disabled was incorporatad on 10 June 2014. The Charity is a Company Limrted by Guarantee - Number 09080110 and is registered with the Charities Commi88ion Number 1180676. The unincorporated Ch8nty transferred ris assets and liabilrtie8 to the Company on 1 •t April 2015. The Charity's goveming document is the Memorandum and Artides of A880ciation. The Tru8t•e8 confimi that they have c¢)mplied with the requirementa of 8ection 4 of the Chariti08 Act 2011 to have due regard to the public benefrt guidance published by the Charty Commission for England and Wal88. Trustee8 are appointed to P08t by membern al the Annu81 General Meeting. Tru8tee8 88N8 UP to 2 t•mis of 3 years. A scheme of rotation exists to 6n8ure continuty of leadership while allow'ng for the board to be refr88hed. The board will cw)t new Tru8tee8 as and when required during the year and their appointment referred to the subsequent AGM for confirmation. The board maintains and reviews a ski118 audit and new appointments are recommended based on the need to maintain an 8ppropriat6 range of 8ki118 and experience Ihat will 8UPPOrt the ¢xgani8ation in deliverin9 the busin•ss plan. New Tru8tee8 undergo a briefing on the organisation, rts aim8 and objedives and Ih•ir logal obligation8 undér Charty and company law. AM IfU$t•M ar• •ncourag•d to und•rtaka additional training 8S thoir rol88 and intere8t8 require. The Board undettskes an annual r8vl8w of the organisation to ensure that the busine88 plan, fundraising strategy, and 8taffing structure are alyned and will support the strategic objective8 and operational dolivery plan8. The Trustee8 are confident that they hw4e the team and too18 in place with which lo build and grow the Chanty. The 8oard are committed to investing in the volunt•or8 and prof688ional staff to make sure Ih81 they have all the support that they require and that our participant8 receivo a profe8sional and con8i8tent high-qualty experience. The training 8¢heme developed for volunteers is reviewed and updated for b•81 practic8 on a ro9ular ba•1• and 1$ 8uppl8manted wrth addjts'onal training for Staff and Tru81ees. The Board undettskes a rolling r8viow of the policy library to provide up to date best practice and support the Staff and volunteers. A similar review of the Bu8ine88 Plan and Fundraising Strategy 18 also in p18ce. The locu8 18 on maintaining the existing financial Stabilty whilst adding and sustainable income 8tr8ams. This will allow u8 to continue to provide riding at a subsidised rate whi18t mairrtaining the high 8tandard8 acr088 the org8ni88tion for which il has bec￿18 renowned. The Charity 18 a member of National Riding for the Disabled A880ciation r Voluntary S•rrfic•. Thi8 18 the highest accolade given for volunteering. The Bcwd bel￿¥￿ that w0￿1n9 collaboratwety wrth thr organ￿1￿)n• in the voluntsry sector will bring greater strength to the Charity and bn'ng new opp(xtunrtth lof disabled pecyle in the communty. We offer a range of unmounted adivities Using our ponies and facilities such as our sensory garden. This means reaching out to groups invofved with people living with dements'a and tknf lrffraftering condition*, also famity day8 for support groups. Such a• Wellchild ond Heart Heroo8. The Cotswold RDA were the fir81 group to introduc• 'T6a with a P￿Y'. a wonderful initiative aimed al th0￿ Imng wrth dementi8. Thi8 initi"atNe 18 ncm bw'ng rolknj out ty RDA gn>up8 nationw￿•. Achl•v•m•nts and P•rforni•nc• De8Prte the challenges of attracting and retaining new volunteern we ¢¢￿tinUe to make progress wrth thi8 given that rt i• fund8ment•l to delivering increajed nurnber3 of hwh-qualrty rider experience8. Cot8wdd RDA is advers•ty affected, as are many UK bu$ine8w and chantie8, ty the cosl of Imng CriSl8. Th• organi8•ts'on conlinue8 to seek ways to maximme rts reach and impact wilh an ongoing I￿u• of gmng on• dl opwtunrties to th0￿ on their warting hst whorn rn9ular 8e88ion8 are unavailable. Throughout 202415 we worked wrth our Operat￿8 Manag•r to increa88 hef re8pon8ikn'lrti88 and wider underntanding of CRDA ad1Vrt￿ as part of a planned progression tCYW8rd8 bec(xning the General Managw. Thi8 hal included an element of rn8tructuring her tearn to aMi8t in making this a Success. Supportlng and Communlc•tlng wlth our Communlty eonts'nue to keep in touch wilh our IKlers and volunteers through a range d social media. Our Facebook and Instagram pages are well 8UPWted by our CG*8wold RDA 'Famity' and our quartety Pony Post continues to be wom r￿e1ved. Our ASDAN courses (extemaHy vonfi￿1 qualfficat￿s that h* young people develop life 8ki118 and equine kno**) c¢￿tInUe to gr(r# in number and are al80 being adopt•d by other RDA group8. Thia 18 80en a8 growth aru for CRDA going foThvafd. During the year CRDA afvwinted a part time fundraiser to fo(xM on rnising funds to rM8t revenue cost8. Thi8 ha8 proved 8 very succossful app￿nIment to date. COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES (INCLUDING DIRECTORS. REPORn (contlnuod) For the year ended 31 March 2026 The Trustees recc*3nise and thank the staff for their hard work and commitment to the Chanty. They also recognise and thank the wonderful group of commttted and dedicated volunteers who tum out in all weathers so that the Chanty can make sure their riders Khieve the very best they can whatever their di8abilty, background or age. Flnanclal R•vlv The attached financial statements have been prepared to compty with the Charities Act 2011. the Companies Act 2006, the Memorandum and Artides of Association, and Accounting and Reporting by Charitie8'. Statement of Recommended Practice applicable to charities preparing their account8 in accordance wtih the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (Chantses SORP (FRS 102)). Flnance- Co•t and Fundlng Each year the Charity receives no governmenl C￿ grant8, 8errfice level agreements or contracts to cover revenue costs and depends on fundraising, donath'ons, feos from rider• and funding from small and medium 8ized charitable trusts. This has been a suce•ssful Strategy, and the organisati has a long track recwd of achieving ils target8. Fundraising continues to be challenging particularty for meeting revenue c08ts. The key ar888 thal wlll contlnue to generate Income: Subsidi8ed fees fr(xn riders. Subsidised fees from groups and organisations Hire arml bookings of the arena Training Jnd ￿arning programmes, partty ba8ed on donations Sponsornhip of ponie3, equipment and building8 Unmounted activrties for the wider disabled communty e.g. Tea wilh a Pony Fundraising and grants Retsil In line with the fundraising strategy, the charity established a subsidiary trading company to set up and run retail unrts. The first outlet wtihin the Longlevens MKI-Counties Cop store at Longlevan8 ha8 been a 8ucce••. The Trading company has moved into online rntailing with 80mé succo88 and 8IXI8 this 88 8 potantial growth 8roa 8nd i• t•king •Xt•rnal voluntary input Irom •ppropri•t•ty •xp•ri•nc•d contact• to grow this profitabty. The tru8tee8' firsl concam is the charity and closety monitor8 the perforniance of the •ub8idlary to ensure that the tharty receives a return for rts risk. The Board may consider othèr opportunities to devek)p altemativo income whi181 at the Same time priorilising rt6 core activities and adopting a prudent approach at all time8. We operate 48 weeks of the year, offering nding in the school holiday8 for regular rider) 88 well a8 wherevor possible, rider8 on the waiting list. Al all Ilmes Tru8lee8 are con8cious of the re8pon8lbllty Ihey hold to safeguard the charty'5 funds and enter into a robu8t bu8ine88 planning and risk management exerci8e before commrtiing to project. COTSWOLD RIDING FOR THE DISABLED REPORT OF ThE TRUSTEES (INCLUDING DIRECTORS, REPORT) Icontlnu•d) For the yèar ended 31 March 2026 RM•rvM polky The Chanty ha8 devekped and ccmtinues to develop a wide rnnge crf irKorrfrgenerab'ng iniiiatNes to support its charitable activities, despite which rt remains heavity reliant on voluntary donations. The majorty of this inc<)me has to be genera￿ afresh each year which ￿ rellected in the Chanty's prudent and con8idered re88rv88 polw. The policy is to maintsin a minirnum General Reserve equal to fve month8 operational costs. At the same time. in order to develop the operation and cornplete Phase11, the Trustees have set aside as designated funds legacies where p088ible l￿ardS this further caprtal development. As can be seen from the Financial SLgtements thal folkrw. the Charty 18 rneeb'ng this policy and has set procedures In place to ensure it is maÈntained. P•y polky for k•y man•g•m•nt p•r•onn•l The TnJ8te88 C￿51d9r that the Board of Trustees. and the Operation8 Mana9or ccffiprise the key management P¢f8onnel of the Charity in charge of directing and controlling, running and operating the Chanty on a day-ttrd8y basi8. All Trustee8 give of their lime freety and no Trustee r￿eNed remuneration in the year. Detsils of Tru8tee8' expenses arKI related party transaCtior￿ are diKlo8ed in ndes 10 and 20 to the accounts. The pay of the Operatlons Manager and ¢Xher staff Is reVIew￿ annuany based on perfommnce and norn￿1ty irKrea8ed in accrydance with average earnings. The remuneration 18 set to ensure rt is fair wim attract and retain staff of the 4)wopriate calibre and expwim required by the Charity. The Chanty felies mainty on the don￿1￿3 and grants to supwl it8 tharit*)le artith for which the Trust808 w(￿1d like to 8ckncr•Aedge arKI thank th08e partié8 for their continued support. COTSWOLD RIDING FOR THE DISABLED REPORT OF THE TRUSTEES IINCLUDING DIRECTORS. REPORT) qcontlnu•dl For the year ended 31 March 2026 Golng conc•rn Trustees have prepared budgets that they believe are prudenl to irKlude onty conservatNe ests"mate8 of donats'ons and grant inc(the. Accounts are monrt(xed by way of a rrrt)nthty finance rep(*ts for review by the board. Costs are closely controlled whilst having regard for the heatth and safety of staff. volunteer5, participants arKI ponies. During the year. the Trustees have revivwed the updated for￿. budgets and businem rnode￿. Most recentty, the Cost￿41¥In9 crisis. as wel as the econcmnic climate. has presented lundraising challong•8. The Trustee8 exped c88h balanc￿ and reserves to remain strong and that th8 Charity will be ab to meet obligatM)ns a6 they fall due for the next 12 months. For this reason, the Truslees ¢￿￿'True to adcpt the going C￿cern basis in the financ¢al $lat•ments. Stat•m•nt of Tru•t•M' rnspon•lblllU The director5 are r08ponsible for preparing the Directorn. Rep(xt and the accounts in xcordance with applicable law and regulati￿8. Ccfftpany Jaw r•quir•8 the dirxtorn to proparn account• ￿ ea¢h financial y•ar. Under that law the directors have eknted to prepare the accounts in accordance wrth Unrted Kingdom Generalty Accepted Accounting Practice (United Kingdom Stsndards and applicable law). Under company I￿ the directors must not approve the accounts unless they are satisfied thal they gDie a true and fair vitrw of the state of affairs of the company and of the profft or loss of the company for that In preparing these financial 8tstements, the Trustees are required to.'- Select suitable accounting policies and then appty them consistenty: Obserrfe methods and principles in the Charities SORP (Accounting and Reporting by Charities - Statemenl of Recanmended Practice). Make judgements and e8tirnates that are reasonable and prudent: and Prepare the financial statements on the going con￿rn basis. unless il is inappropriate to presume that the Charty will conts'nue in operats'on. The Trustees have overall responsibilty for ensuring that the company has an appropriate system of controls. financial and otherwise. They are al80 responsible for keeping proper accounting records. which disdose with reasonable accuracy at any time, the financial position of the company and enable them to ensure that the financial stalernents cwty with the C¢ynpanies Acl 20(￿. They are also responsible safeguarding the assets of the ccxnpany and hence for tsking reasonable steps for the prevention and detection of fraud and other iTregulanties. Indep•nd•nt Examln•rn The Tru8tee8 recomThnd that Hazlew￿d8 LLP remain in office Ur￿.1 further n(Aice. COTSWOLD RIDING FOR THE IXSABLED REPORT OF THE TRUSTEES (INCLUtXllG tXRECTORS' REPORn Iconllnu•d) For the year ended 31 March 2025 Small Company Exompljons This report ha8 been prepared in acwdance with the 8pecial provisions for small companies under Part 15 of the Companies Act 201￿. By order of the Tru8tee8 TIM 8aylls Trusteo & Chalrman of the e￿Id 1810912025 COTSWOLD RIDING FOR THE DISABLED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUCITED FINANCIAL STATEMENTS For the year endod 31 March 2026 I report to the Chanty trustees on my examination of the financial statements of Cotswold Riding for the Disabled for the year ended 31 March 2025, whKh comprise the statement of financial activities, the balance sheet and the related notes. The8e financial statements have been prepared under the historical cost convention and the accounting policies set out therein. R•8p•ctlve re•pon•lbllltl•s of Trust•e8 and Ex•mln•r A8 the Charty'8 Trustees of the Ccmnpany (who are 8180 the Directorn of tho company for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirem•nt8 of the Companie8 Act 2006 ('th• 2006 Act.) and the Charitie8 Act 2011 ("the 2011 Act.). Having 8ati8fied myself that the financial statements of the Company are not required to be audrted for this year under Part 16 01 the 2006 Act and are eligible for independent examination, I réport in respect of my examination of your Chanty's financial statementb a8 carried out under section 145 of the 2011 Act. In carying out my examination, I have followed the Direction8 given by the Charity Commi83ion (under section 145<5)(b) of the 2011 Act). Ind•p•nd•nt Ex•mln•V• •t*t•m•nt The Company's gross Incorno exceeded £250,000 and l arn qualified to undertake the examination by being 8 qualffied member of the In8titute of Chartered Accountsnts in England and Wales. I have completed my examination. I confimi Ihat no material matter8 have come to my attention in connection with the examination which gNe8 me ceuse to believe that, in any material re8pect: The accounting r9￿rdS were not kept in &cordanc• with Joction 388 of the Companies Act 2006,. or the financial 8tatements do not accord wlth such record8,' or the financial statements do not comply with relevant accounting requirnment8 under section 396 of the Companies Act 20C6 other than any requirement that the fin8ncial statements give a 'tru8 and fair, view which 18 not a matter con8idered a• part of an Independent examination,. or the financial statements have not b••n prepared in accordance with the rnethods and prlnciple8 of the Charities SORP (FRS102). I have con8idered the di8clo3ures made in Note 2 to the financial 8tatement8 with regards to the Charlty's ablllty to contlnue a8 a golng concem. I have no concerna and have come across no other matters in connection with the examination to which attention 8hould be drawn in this report in order to enable a proper understanding of the financi818tatements to be reached. 2610912025 Scott Lawrencé FCA, DChA HAZLEWOODS LLP ndsor Houae B8yshill Road Cheftenham GL50 3AT Date COTSWOLD RIDING FOR THE OISABLED STATEMEKf OF FINANCIAL ACTMTIES (INCLUDING SUMMARY INCOIAE AND EXPENDITURE ACCOUNn For tho y•ar •nd•d 31 March 2025 Unrrftrk￿ D••lgnat•d R••trlct•d Totsl Funds Fund• Fund• 2026 Totsl 2024 Incom• and •ndowm•nt• from Oonations arKI legacies 250.433 85.773 336,21A 185,564 Charitable acti¥ili•6 119.801 119,801 Other fundraising acti￿ti83 47,826 47,826 28,829 22,349 22,349 13,032 Tolal Incom• 440,409 85.773 526.182 321.431 Exp•ndltur• on Raising fund8 (24,304) (24.304) (14.061) Charilable activiti88 (291,498> (45,570) (337,068) (330,955) TcAal expendrture (315.802) (45,570) (361,372) (345,016) Net income l (expenditure) 124,607 40,203 164.810 (23,585) Tran8fer between lund• {119.132) 130,000 {10,868) Nel Movem•￿ in fund8 5,475 130.000 29,336 164,810 (23,586) Tctsl funds brought foThArd 455,125 250.000 61,085 766,210 789,795 Total funds ¢arri•d foTrvard 15 & 16 460.600 380,000 90.420 931,020 766,210 The statement of financial actMli88 indude8 all gains and 1088e8 in the year and thernfore Separate statement of totsl recognised gain8 arKI108se8 has not been prepared. All the above amounts relate to contlnulng •ctfvrt*s. None ￿ the company'i acllvrtl88 was acqulred or discontinued during this finanual year. io COTSWOLD RIDING FOR THE L4SABLED BALANCE SHEET AS at 31 March 2025 Charlty nurn￿r 1160676 Company numb•r: 09080110 2025 2024 FIXED ASSETS Tangible assets Inv••trnents 315,059 346.767 12 315,C 346.768 CURRENT ASSETS Stock Deblors Cash at bank and in hand 1,074 38,703 595,237 1.348 61.191 385.491 13 635.014 448,030 UABIUnES Crodltor•: amount• duo wlthln on• y•ar 14 {19.054) (28.588) NEf CURREKf ASSEf8 615.960 419.442 TOTAL NET ASSErs 931.020 766.210 THE FUNDS OF THE CHARITY Restncted funds Unrestncted funds DeS￿nated funds 17 16 16 90,420 460,600 380.CK)O 61,085 455,125 250,000 TOTAL FUNDS 15 931,020 766.210 The Twsl8es' statements required by Section 475 aro 8h(Nvn on the follo￿.ng page which fornis part of this balanc• 8hooL li COTSWOLD RI(XNG FOR THE DISABLED BALANCE SHEET {contlnu•d) AS at 31 March 2025 TrustM•' St•tom•nt• r•qulr•d by Soctlon 476 In approving th￿e financial statements as Tru8tee8 of the company. the Tru8tee8 hereby ¢onfirm:_ (a) For the year to 31 March 2026, the company wa8 •ntitkni 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 accordarKo with Seth'on 476 of the Companies Act 2006. {c) The directors ackncAYledge their r88pon8ibilrty for cOmp￿.ng with the requirem8nt8 ol the Act wilh respect to accounting records and for Ihe preparation of financial 8taternents. These financial statements have been prepared in 8ccordance with Ihe provi8ion8 appluble to companies subject to the small companies regime. Approved by the Tru8tee3 and authorised for i8sue on 1810912025. and 8ignad on its behalf by: TIM 8ayll8 Trustee & Chairnian of the Board Judy John Trustee & Treasurer 12 COTSWOLD RIDING FOR THE DISABLED NOTES TO TrIE FINANCIAL STATEPAENTS For the yoar endod 31 March 2026 GENERAL INFORMATION The company 18 a private c(xnpany limitod by guarantee, incorporated in England and Wales. and con8equently does not have Jhare caprtal. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of tho company in the event of liqU￿atr.0n. The address of it8 registered offic• 18". Jackie B Tutton Riding School Prestbury Park Racecourse Cheftenham Gloucestershi GL50 4SH ACCOU14TING POUCIES The principal accounting polictes are 8umfflari8ed bolv•V. The accounting polici88 have been applied con818lently throughout the year. 8181• ol Accountjng The financial 8tatemonl8 have been prepared in accordanu with Accounts'ng and Repo￿.ng by Charitie8.' Statement of Recommended Practice 8ppIic8ble to charTties proparing their account8 in accordance wth the Financial Reporting Standard applicable in the UK and Ropublic of Iroland (FRS 102> - (Chariti•8 SORP (FRS 102)), th• Finoncial Roporting Standard applicable in the UK and Republ1¢ of Ireland (FRS 102} and the Compani88 Acl Cot8wokl Riding lor the Disabled meets the definrtion of 8 public benefft enlty under FRS102. Assets and Ikqbilities are inrtially recognised 8t historical co8t or fran￿¢tIon value unle•6 other4ViSe Staled in the relevant accounting policy not8(s). R•conclllatlon wlth pr•vlou• G•n•rnlty Acc•pt•d Accountlng Pr•dlc• In preparing the financial 8latement8. the Tru•te88 hav• con8idwed whether In apptying tha accounbng polici•• roquired by FRS102 and th• Charitio• SORP FRS102 the r••tatom•nt of comparative item8 was required and have concluded that no r88tatement8 were r•quirod. Cash Flow The Charity ha8 taken advantsge of the exemption in FRS102 from the requirement to produce a cash flcw statement becauso it 18 a small Ch8nty. Golng Concorn The Charity relle3 on donation8 and tru8t8 to 8UPPOrt ilj charitable actMti•s. The Tru8tee8 have prepared the financial 8tstement8 on a going concern b8818 on th assumption that their funding will be rnet. Due to the nature of cash flows, as explained on page 7, there 18 always S￿ne uncertainty with regard8 to income which relies heavity upon donations. The tru•tee8 reviaw lor•caat8, budg818 and co8hlkMI fcYeca8t8 and adopt thè going concern b8818 in the financial statements on the ba8iS that cash balances and reserves remain Strong and that the Charty will be able to meet obligalions as they fall due for the next 12 months from approval of these financial ststements. 13 COTSWOLD RIDING FOR THE DISABLED NOTES TO THE FINANCIAL STATEIAENTS (contlnu•d) For the year •nd8d 31 March 2025 ACCOUNTING POUCIES Iconllnu•d) Golng Conc•rn (wrtlnu•d) Shwkl the Charity n(* be able to Cr￿tinUe as 8 gthng concem. adjustrnents would be n•c•68ary to ￿110 dthyn the value of 888et8 to their recover8ble omount8, make provi8bon• for further liabl1￿'eS that would arise on cessalion of aclivities and to reclassrfy fixed a8set8 and nonn of a field shefter Fund 17- Donated lo cover the cost of an apprenti￿ for one year Fund 18 - Donaled speafKaty Sorre posters for display Fund 19 . D￿ated specfftaly to replxe fencing at the outdc#y arena 25 COTSWOLD RIDING FOR THE DISA8LEO NOTES TO THE FINANCIAL 3TATEklEP4TS qcontlfiu•d) For th• y••r •nd•d 31 PAarch 2026 LEASE COMMITMENTS A8 at 31 March 2025 the c(Mnpwry had annual c(XnMit￿ under nryK4ncellabl• I￿￿rating leaJe• a folows.. 2026 2024 Bulldlng thin one yew wrth one to two yearn Wrthin Iwo and fve yearn Over fve year• 12 13 Oih•r Wrthin one year th one to two year8 Vllthln two and fv¢ yearn Over five years 1,178 1.178 2.946 409 103 5.302 512 Commllm•nts und•rt•k•n on b•h•ll of •ub•ldl•ry Wthin one year Wrth one lo t*YJ years Vthhin two and fve yearn Over fve yearn 7,875 7.875 19 COPAPANY LIIAITED BY GUARAKfEE Cot8wokJ Riding for the Di￿bled 14 a cLYnpany limited by guarnntee and accordingty doe8 not have a share caprtal. Every member of the clynpany undertakes to contribute Such amount as may be required not exceeding £10 to the as8ets of the chariiable company in the event of it8 being wound up while ￿ or 8he 18 8 member, or wrthin one year after he or ohe cea888 to be a member. RELATED PARTY OISCLOSURES At 31 March 2025 the company was £16,3% (2024.. £39,787) by Cotswold RDA Trading Limrted. Fts wholfy owned subsidiary. Tho k)an for £30.CQO on whKh interest was due and Ihe loan wag paKI in fum in March 2025. 26