REGISTERED CHARITY NUMBER: 1161328
Report of the Trustees and
Unaudited Financial Statements For The Year Ended 30 September 2025
for TREC GB
Harris & Clarke LLP 7 Billing Road Northampton NORTHAMPTONSHIRE NN1 5AN
Contents of the Financial Statements For The Year Ended 30 September 2025
TREC GB
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
TREC GB
Report of the Trustees For The Year Ended 30 September 2025
The trustees present their report with the financial statements of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and Constitutional Updates
The Charity's core objectives are as stated in the TREC GB Constitution.
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The promotion, as the governing body of the sport of British TREC, of community participation in healthy recreation in horse riding.
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To support TREC is a sport intended to test the skills of a horse and rider in planning and executing a long distance ride in unfamiliar countryside
Constitutional Review
To align with the Charities Commission, the Policies Working Group updated the Constitution, which was subsequently passed by the TREC GB membership at the AGM in March 2025. It encourages transparency and accountability within its governance structure.
Activities and Policy Development Training and Official Development
TREC GB delivered a range of training sessions aimed at maintaining consistency in standards for judging, organising, and Technical Delegates (TDs) across the country.
Online training
Refresher Judges Training, Safeguarding, and Hat Tagging modules continue to be offered remotely.
Training volume
A strong training calendar was delivered:
30 PTV and MA training days
8 Judges training days
7 Unmounted training days
5 Camps
2 Tracer training sessions
1 Trainer of Judges trainer session
1 TD training session
Policy and Procedure Review
A continuous review of policies and procedures was undertaken, which included:
Reviewing and formalising the Terms of Reference (TOR) for all Working Groups Initiating the establishment of a Trainer Coach Instructors Register.
Continuing to update and implement Safeguarding procedures, including DBS checks and Mental Health Support. Updating the Complaints Procedure
Equine Welfare of the Horse continues to be a major focus with updated guidelines and protocols.
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TREC GB
Report of the Trustees For The Year Ended 30 September 2025
OBJECTIVES AND ACTIVITIES
Competitions and Championships
Affiliated Competition Statistics
Affiliated competition numbers showed positive growth this year. There is a strong emphasis across Training, Grassroots and L1 TREC competitions to enhance accessibility and inclusivity for under-represented groups. Most competitions have kept their entry fees the same as last year.
Winter Season - 78 affiliated competitions held (an increase of 3 compared to the previous year's 75)
Summer Season (2025) - 20 affiliated competitions held (an increase from 19 in the previous year), consisting of 19 Full Summer Series and 1 10/10 event.
National Championships
The National Championships were hosted at Winwick Hall, Winwick, Northants.
Attendance - The event attracted over 110 horse and rider combinations (individuals and pairs), a significant increase in participation.
Acknowledgement - Special thanks were extended to The Bruce Green Foundation.
Special Initiatives
The Quarters Challenge - A successful bingo-style challenge across Spring and Summer designed to improve TREC skills and encourage new and young member participation. This was also to mark the 25th year anniversary of TREC in the UK.
The Summer Series League and Awards Evening was held at Stratford Manor Hotel and was well attended.
Club and Membership Report
Clubs
TREC GB supports fifteen affiliated clubs.
Closures
Regrettably, TREC Scotland and East Anglia TREC Club closed due to declining membership and the cost of living crisis and rising operational costs (livery, feed and vet bills continue to exert significant financial pressure on clubs and individual owners leading to resilience but also closures across the industry).
Innovation
The South of Scotland TREC Club successfully ran a pilot trial for a tracker system during the Scottish Championship, enhancing competitor safety on the POR phase and allowing wider audience viewing.
Technology is increasingly used for TREC GB's scoring programme, data capture, understanding membership trends, league tables and for insurance submissions.
Membership
Membership figures decreased compared to the previous year. Planning for activities will continue to aim at maintaining and growing membership numbers.
Red Members 199 Decreased Blue Members 182 Increased Supporter Members 70 Decreased Junior Red Members 4 New membership tier for 2024/5 Junior Blue Members 2 New membership tier for 2024/5
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TREC GB
Report of the Trustees For The Year Ended 30 September 2025
OBJECTIVES AND ACTIVITIES International Achievements
FITE Competition
The International Riders did not compete at the FITE Championships in Italy due to the prohibitive distance and associated horse transport costs.
Fundraising and Alternative Activities
The International Riders continued to raise funds for future FITE Championships through initiatives like their TREC Adventure over Christmas and Winter Series online events.Individual riders also participated in the Centaur Ride (night-time endurance) and are arranging to compete in the Gaucho Derby in 2026.
FINANCIAL REVIEW
Membership and growth initiatives
While membership figures saw a slight decrease compared to the previous year, the Trustees are implementing a robust strategy to stabilise and grow our community. Key initiatives for the upcoming period include:
Marketing and Brand refresh
A dedicated marketing programme designed to enhance the TREC GB image and increase our visibility within the equestrian community.
The ''New TREC GB Challenge''
A strategic bridge initiative created to help riders transition from Winter TREC (arena based) to orienteering in the countryside. This is specifically aimed at increasing participation in our summer disciplines.
Championship Success
Our combined championship in Northamptonshire remains a flagship event, successfully attracting 110 horse and rider combinations.
Financial Performance
The charity is reporting an unrestricted deficit of £3,079 for the year (2024: surplus of £2,029). As noted below this reflects planned investment in infrastructure.
This gives the charity carried forward unrestricted funds of £54,332 (2024:£57,411). The carried forward restricted funds are £300 (2024 £300).
Strategic Expenditure
The current deficit is primarily due to a planned investment in our scoring system. Last year, the Trustees approved the use of £4,200 from unrestricted reserves to modernize this system. The expenditure is an investment in the long-term efficiency of our events.
We also note that insurance costs continue to rise. Our annual premium was paid in advance in October and is fully accounted for in the 2024/5 figures.
Reserves policy
The trustees aim to hold £40,000 in reserve (representing approximately six months of expenditure) to ensure financial resilience. With current unrestricted funds at £54,332, the charity maintains a healthy buffer above this requirement, even after accounting for our recent technological investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TREC GB is a charitable incorporated organisation, registered on 20 April 2015, and governed by its constitution, which was amended to the Association Model on 13th September 2019.
Recruitment and appointment of new trustees
The election process for new Trustees was conducted by seeking nominations from the entire TREC GB membership base (Great Britain and the Isle of Man), with all current members eligible to vote. One new Trustee joined the Board in March 2025. A continuation of a proactive mindset within the trustees and a focus on building trust with the membership is ongoing within the role of Chair.
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TREC GB
Report of the Trustees For The Year Ended 30 September 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Decision making
The Board of Trustees continues to meet via conference call every month. The organisation maintains eleven Working Groups covering all aspects of the sport, including:
Finance Rules Training National Championship Marketing (Including Membership) Scoring and Technology FITE Liaison International Riders Summer Series Winter Series Policies and Procedures
Operating Procedure
Working Groups investigate, discuss issues, and make proposals to the Board, ensuring all documents are presented at least one week in advance of meetings for full consideration.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1161328
Principal address Creeds Farm Elkington Northampton NN6 6NJ
Trustees
P Lloyd Owen C Cromarty K Whitehead (Resigned 18/1/2025) C Pollard L Robinson A Robinson R Waine A Whyatt Watts M Bray (Appointed 1/4/2025)
Independent Examiner
J T G Harris ACA Harris & Clarke LLP 7 Billing Road Northampton NORTHAMPTONSHIRE NN1 5AN
Approved by order of the board of trustees on ..... 18th March 2026................................. and signed on its behalf by:
.......................................................................... P Lloyd-Owen - Trustee
Page 4
Independent Examiner's Report to the Trustees of TREC GB
Independent examiner's report to the trustees of TREC GB
I report to the charity trustees on my examination of the accounts of TREC GB (the Trust) for the year ended 30 September 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
J T G Harris ACA
Harris & Clarke LLP 7 Billing Road Northampton NORTHAMPTONSHIRE NN1 5AN
Date: .............................................
Page 5
TREC GB
Statement of Financial Activities For The Year Ended 30 September 2025
| 2025 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 474 - 474 Charitable activities Competitions 31,662 - 31,662 Training 1,208 - 1,208 Membership 35,523 - 35,523 Other trading activities 2 277 - 277 Investment income 3 996 - 996 Total 70,140 - 70,140 EXPENDITURE ON Raising funds 70 - 70 Charitable activities Competitions 40,732 - 40,732 Training 1,326 - 1,326 Administration 25,063 - 25,063 Governance 1,828 - 1,828 New scoring system 4,200 - 4,200 Total 73,219 - 73,219 NET INCOME/(EXPENDITURE) (3,079) - (3,079) RECONCILIATION OF FUNDS Total funds brought forward 57,411 300 57,711 TOTAL FUNDS CARRIED FORWARD 54,332 300 54,632 |
2024 Total funds £ 2 30,143 1,953 31,904 1,557 1,154 |
|---|---|
| 66,713 | |
| - 39,693 1,938 23,053 - - |
|
| 64,684 | |
| 2,029 55,682 |
|
| 57,711 |
The notes form part of these financial statements
Page 6
TREC GB
Balance Sheet 30 September 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Debtors | 7 | 263 | - | 263 | 42 | |
| Cash at bank | 81,232 | 300 | 81,532 | 86,722 | ||
| 81,495 | 300 | 81,795 | 86,764 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 8 | (27,163) | - | (27,163) | (29,053) | |
| NET CURRENT ASSETS | 54,332 | 300 | 54,632 | 57,711 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 54,332 | 300 | 54,632 | 57,711 | ||
| NET ASSETS | 54,332 | 300 | 54,632 | 57,711 | ||
| FUNDS | 9 | |||||
| Unrestricted funds | 54,332 | 57,411 | ||||
| Restricted funds | 300 | 300 | ||||
| TOTAL FUNDS | 54,632 | 57,711 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. P Lloyd-Owen - Trustee
The notes form part of these financial statements
Page 7
TREC GB Notes to the Financial Statements For The Year Ended 30 September 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Marketing promotion | 277 | 1,557 | |
| 3. | INVESTMENT INCOME | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Deposit account interest | 996 | 1,154 |
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continued...
TREC GB Notes to the Financial Statements - continued For The Year Ended 30 September 2025
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.
5.
EXCEPTIONAL ITEMS
During the year the charity incurred expenditure of £4,200 on a new scoring system. This was a planned drawdown from reserves rather than a standard operational cost.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities Competitions 30,143 - Training 1,953 - Membership 31,904 - Other trading activities 1,557 - Investment income 1,154 - Total 66,713 - EXPENDITURE ON Charitable activities Competitions 39,693 - Training 1,938 - Administration 23,053 - Total 64,684 - NET INCOME 2,029 - RECONCILIATION OF FUNDS Total funds brought forward 55,382 300 TOTAL FUNDS CARRIED FORWARD 57,411 300 |
Total funds £ 2 30,143 1,953 31,904 1,557 1,154 |
|---|---|
| 66,713 | |
| 39,693 1,938 23,053 |
|
| 64,684 | |
| 2,029 55,682 |
|
| 57,711 |
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TREC GB
Notes to the Financial Statements - continued For The Year Ended 30 September 2025
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | 263 | 42 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Other creditors | 27,163 | 29,053 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.10.24 | in funds | 30.9.25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 57,411 | (3,079) | 54,332 | |
| Restricted funds | ||||
| Restricted | 300 | - | 300 | |
| TOTAL FUNDS | 57,711 | (3,079) | 54,632 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 70,140 | (73,219) | (3,079) | |
| TOTAL FUNDS | 70,140 | (73,219) | (3,079) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| At | movement | At | ||
| 1.10.23 | in funds | 30.9.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 55,382 | 2,029 | 57,411 | |
| Restricted funds | ||||
| Restricted | 300 | - | 300 | |
| TOTAL FUNDS | 55,682 | 2,029 | 57,711 |
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TREC GB
Notes to the Financial Statements - continued For The Year Ended 30 September 2025
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,713 | (64,684) | 2,029 |
| TOTAL FUNDS | 66,713 | (64,684) | 2,029 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Net At movement At 1.10.23 in funds 30.9.25 £ £ £ 55,382 (1,050) 54,332 300 - 300 55,682 (1,050) 54,632 |
Net At movement At 1.10.23 in funds 30.9.25 £ £ £ 55,382 (1,050) 54,332 300 - 300 55,682 (1,050) 54,632 |
|---|---|---|
| 54,632 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 136,853 | (137,903) | (1,050) |
| TOTAL FUNDS | 136,853 | (137,903) | (1,050) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2025.
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continued...
Notes to the Financial Statements - continued For The Year Ended 30 September 2025
TREC GB
11. RESTRICTED FUNDS
A restricted donation of £1,700 was received in 2020 to be used to support affiliated clubs that got into financial difficulties. £300 remains to carry forward into the next financial year.
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TREC GB
Detailed Statement of Financial Activities For The Year Ended 30 September 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Sponsorship | 374 | - |
| Donations | 100 | 2 |
| 474 | 2 | |
| Other trading activities | ||
| Marketing promotion | 277 | 1,557 |
| Investment income | ||
| Deposit account interest | 996 | 1,154 |
| Charitable activities | ||
| Membership | 35,523 | 31,904 |
| Competitions | 31,662 | 30,143 |
| Training | 1,208 | 1,953 |
| 68,393 | 64,000 | |
| Total incoming resources | 70,140 | 66,713 |
| EXPENDITURE | ||
| Other trading activities | ||
| Promotional items | 70 | - |
| Charitable activities | ||
| Insurance | 24,465 | 23,867 |
| Championship expenditure | 12,722 | 10,238 |
| Maps | 1,027 | 1,682 |
| Prizes | 2,000 | 1,475 |
| International events | 518 | 3,264 |
| Training costs | 1,326 | 1,105 |
| New scoring system | 4,200 | - |
| 46,258 | 41,631 | |
| Support costs | ||
| Management | ||
| Administration | 23,978 | 22,329 |
| Office equipment | 320 | - |
| 24,298 | 22,329 | |
| Finance | ||
| Bank and payment charges | 765 | 724 |
This page does not form part of the statutory financial statements
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TREC GB
Detailed Statement of Financial Activities For The Year Ended 30 September 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy and legal fees | 1,828 | - |
| Total resources expended | 73,219 | 64,684 |
| Net (expenditure)/income | (3,079) | 2,029 |
This page does not form part of the statutory financial statements
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