Coinpaiiy registration number- 08737154 Chai'ity I'egistialion nLimbei': 1163030 The Cavalier Centre Ltd (A company limited by guarantee) Annual Report and Finallcial Ststeinents for the Year Ended 31 arch 2024 Cavalier Centre Where horses make the difference
The Cavalier Cenlre Ltd Contents Reference and Adininistrative Detai15 Trustees, Report 2to8 Statement of Trnstees, Responsibilities Independent Exainin¢¢5 Report 10 Siatement of Financial Activities 11 to 12 Balance Sheet 13 Notes to the Financial Statements 14to27
The Cavalier Cenlre Ltd Reference and AdRninistrative Details President Henry Seymour. Marquess of Hertford Vlee Presldenl Catherine, Lady Forester Pali'on Kelda Wood, MBE Chair Selin& Graham Trustees Selin& Graham Jane Barker, MBE Edwaid Andrewes Lynn Au¢ott Sarah Baugh Teresa Black Mark Hatnilion-Russell Demiis Hill Valerie Hill James Van Halen Neame Secretary Del15 Hill Charity Registration Number 1163030 Company Registrdtion Nurnber 08737154 The charity is incorporated in England and Wales. Th¢ Cavalier Centre Bd1¢Y Farm Farley Much Wenlock Shropshire TF13 6PE R¢glstered Office IDdependeiit Examiner CBSL A¢countants Limited Rawan Hou8c Noith l Thc Profc*%sonal Quarter Shrewsbury Business P&rk Shrewsbury Shropshire SY2 6LG Banliers HSBC 33 Hi2h Street Shrewsbury Shropshire SYI ISL Page I
The Cavalicr Centye Ltd Trustees, Report The trustees, Ivho Hit directors foi. the purposes of Coimpany l&w, pi'esent the annual report together with the financial statement% of the charitable coit)pany for the ye&r cnded 31 March 2024. Trustee5 offieei's The trustees and officers serving during the yeai. and since the year end were as follows- Chair.. Selina Graham Trustees- Selina Grkham Jane Barker, MBE Edward Andrewes Lynn Aucott Sarah Baugh Teresa Black Mark Hamilton-Russell Dennis Hill ValeTi¢ Hill James Van Halen Neame (appointed 27 July 2023) Se¢r¢lary.' Dennis Hill Structu governance and manag¢went Nftliire ofgoyeriiiiig ilocHiiieiil The original unincorporat¢d Charity, The Peny Riding Group for the Disabled Association was govcrned by a ConstÉtution adoptcd an 2 Novcmber 1998. That COll8titutinn was superseded on l July 2015 by the memorandum and ai1icles of association of a t)ew company liinited by guarantee, Perry RDA Ltd, into which the charity wa5 transferred as a going ¢oncern. During 2020 the charity changed its name to refle¢t its new identity following the OPEning of th¢ new centre to The Cavalier Centre Ltd. The Cavp41ier Centre Ltd is a company limited by guarantee govei'ned by its Memorandum and AJli¢les of Association dated 1st July 2015. It is a registered charity with the Charity Commission. Anyone ov¢r 18 can be a Member of the Company. There are currently 28 Members (10 Trustees and 18 Ordinary) ¢ach of which agrees to contribute £1 the event of the eh2rity winding up. The liabilÉty of t41ch Meinber of the charity is litnited to £1. Reeriiilineiit and uppDinlnieJil ofiriisle The management of the Charity is the responsibility of the Tnembers who al'e elected as Ti'llstees and Directors of the company. Election takes place at the AGM by th¢ meiDber5 of the company following nomiE]ation and notification to meTnb¢rs. l1idmtiliI ftndlrfilitlrig of Intslees Th¢ training of Trustee9 is done in adhei'ence to guidelines from the National Riding for the DEsabled Association IRDA). The Ti'ustees are given Charity COnnISsion guidance CC3 and CC3a detailiiig the responsibilities of Trustees foi. inforination. Page 2
The Cavalier Centre Ltd Trustees, Report OTgaiiisalioiiul slriicliire Decisions are Imade by The CavalÉ¢i' Centre Ltd coinmittee with a mininiuin of a quorum of 4. Relationships with r¢lat¢d parties National RDA The Charity is atTiliated to the National RDA (Riding for the Disabled Association)- Mrtjor risks aiiil inopingeiiieiil ofiliose risks Risk Managerne*t The Trustees have assessed thc major i'isks to whicli thc c.harity is exposed, in particular those related to the operations and fmances of the Charity, particularly in its new home of Cav21ier Centre and the op¢ratioDs management of the Centre. Th¢ Trustees ale satisfied that the systems and pi'ocedures are in place to mitigate the Charity's exposure to these risks. Objeetlvos activities Objecls qitd ffiRIs The principal objecls of the CharEty si't to promote the object5 of th¢ Riding for the Disabled Association incorporating Carr2age Driving, a Charity regislered Linder charity number 244108 {RDA), by proyiding disabled and otherwi5¢ disadvantaged people with the oppoi'tunity to ride and l or carriage drive to benefit their mental and physi¢&l health and well being in the Shropthire area. Donations Donations are particularly impoitant to us as they help to offset the difference between the contributions made by participants and the 11 cost of pi'oviding the Chall3 principal objects. Action is besng taken to re-form the fvndi'aising committee and to appoint a dedicated fundraiser to procure larger or ongoing do[tiOn& Page 3
The Cavalier Centi'e Ltd Trustees, Report Acliievenients aFiclperforinftJice Our year at a glanee The Cavalier Centre's Ini55iOii is to enrich and empower lives through horses. 2023.2024 has been a year of celebratOn, con501idation and collaboration. Celebration To our delight, oui. 200+ incredible volunteers were honoured with the Kiiig's Awai'd foi Voluntary Seiwice in re¢o£nition of 'providing riding for th¢ disabled aiid personal development pi'ogrammes to ftsster iinproved wellbeing Éhrough horses. We hosted a c¢lobration event which included volunteers froin seven othej. Shropshire charities, also receiving tlie awaTd. A volunteer Commented.. 'It was.just really lovely to have such a large gathei'ing of volunteers, people who do good things for othei's. Makes you feel better about the world! We retained ollr 5* Riding Sclkool Licence and Highly Cominended BHS Approved Centre statu5 and hosted ridtng actsvities for the Wenlock Olympian Society Games. As part of the King's Birthday Honours, Perry RDA founder Jane Barker was ttw&rded an MBE in recognition of her services to eharity and people with disabilities. Consolidation We continued to be busy seven days a week, fify weeks a year providing opportunities for people of all ages facing isolation, life limiting illness, anxi¢ty or living with dÉ$abilities. P8rticipanl numbers acr055 our liidillg for th¢ Disabled activitie5.' Ca)TiaEe Driving, Vaulting, Riding and Pony Care, Tea with a Pony and Quiet Time with & Pony Continued to grow. Our regular progranunes Steps, stsble Relationships and Changillg Lives Through Horses gath¢r¢d pa¢e. Our participants enjoyed competing at RDA Regional and N&tional Championships. The site continues to be enhanced and improved. Automatic openers haye been fitted to most doors, the sensory garden is now well established, and enrichment added to the ponies, paddocks. Collaboration WE have.. ' welcomed Wolverhampton and East Shi'opshire RDA to JOS11 WÉth us through Inerger . hosted the BHS c.hanging Lives Throu Horses conference for peers across the UK PTovided a caiTiage driving CPD day for our RDA collcagucs welcoEned peers fron) Guatemala during the Lead Up Intei'national workshops designed to promote pDsitiv¢ leadcrshEp aTrd Ron-violence in young people streatned a Yirtual pony care session with charity partners Sense to housebound particÉpants ' enjoyed our ftrst gEant Tea with a Pony tea party for 35 people planned the visit of HRH Prancess Anne Page 4
The Cavalier Centre Lld Trust¢es' Report Our regular prograrnmes Ridit)g for the Disabled Riding Riding for the Disabled Carriage Driving Ridittg for the Disabled Vaulting Riding for the Disabled Pony Care Step5 adult early intervention 8 week prograinme Stable RelatÈonships- Equine Facilitated learning 12 week programme for young people BHS Changing Lives ThiDugh Horses- skills development for young people Quiet Time with Poiiy - Confidence building sessions Tea with a Pony- Sotial activity for lliose living with dementia and their carers Cavalier Club- supported volunteering and social sessions The scope of our Trvork Over the year we have delivrd.. . 3571 RDA sessions for (Riding, Carriage Driying, Pony Care, Vaulting, Quiet Time with a Pony and TEa with a Pony) for 402 regular participants, just over half of whom are under 18 years old. DeliveTed four x 8 week Steps pi'ograinmes for 35 adults facing challenging cii'ciimsiances Delivered five x 12 week Stable Relatioi)ships progi?mmes to suppoi'l emotional regulation in 5 young people Worked with fainilies. local authorities, schools and other partners to provide horse based activitie5 including respite for carers and support staff and tailored pi'ojects for children and young people. Additional activities We are delighted to open the Centr¢ up foi. other Tegular actlVLties, wbi¢h help us balance our budget and make maximum use of our faciliÉies. In 2023-2024 the following groups and organisations have been legular Centre users.. Freedoin Physiothei'apy Wheatland Hunt Pony Club Abstslutely Barking Agility Addicts dog agility show5 Patsy Pyke- mechanical horse hire F.ast 8hrop5hirc Ridsng Club . Nick Lawson Dressage British Dress&ge . Shrewsbury Rugby Club . John Docherty boot camp Participants People who engage with the Centre come from all walks of life, aged from 2 -103, may have special educational ¢cds and dEsabilitEes, unpaid ca¥s, havc suff¢r¢d trauma, anxiety or long terni illness, isolation or face any other foTm of challenging life circumstances. Quote from an RDA partlcipant'5 parent: 'He's obsoliiiely loving il anddéfEpJilély Empp'ovifr7g hiin a lol, gEving hiiii som£Éliing lo lookfoiwai.dio each week Hes made afew newfriends andso havg I, so wewe bolh benefi¢edfi'okx coiling. li's afabill0$ place. ihLyftksfor such a lovely calm andfL7Pttas1icplfjce. From parent of I l year old rider. Page 5
The Cavalier Centrt Ltd Trustees, Report Quotes from a Steps Én the Right Direction parlieipant: I contc hei-e i'¥gi(loi.ly for Cari't7ige Di-ivin£ 0e of ihe Coach iecominended ihe (Si8ps) pp'ogp'avipne. J wont to ihank y(Jiifoi' tsll ihe supporl im compleling Sieps artdfoi. iKip'Odueig iKe io ihe hoises hiimans of Ihe Cavaliei. Cenlrg CoinFniifv7Ety, Ihol sense of coiptnitrnity is veiy impoi-ioni to me. Thank you also foi. all ihe picIIiFes you kindly pfvtre of my lipne Eack Trveek. li has I'eolly lifred IKY mood, I have lirei'ally boiincgd oul of bed Èo come hgre. l i'golly h(Théfeli a dffi erenee irtyself Flty IAOllValiOn hove been relling eveiyone at iny a¢¢oirymodalion lo givE il a go. Thg stajfat home have tslso p'eallji noiiced a inossive posifive change in pne since ¢oming. From 4 65 year old Steps, pai'ticipant Volunteers Our volunteers range in age from 12 to 86, tome from diverse backgrounds and have had very different life expeiiences. They have donated well in excess of 24,000 volunteer hours this year through a combinalion of.. over5¢eitkg the Centre's governance and strategic direction hand5-on support of the Cavalier Centre on site across all equine ielated activities, administration and grounds rnaintellan¢e • represented the Centre at special event% e.g. Bunwdrton Shtsw and Much Wenlock Chrisknnas Fayre fundrdised in suppoil of the Centre ¢hrough undertaking challenges, hosting events, launched our Friends regular donation5 &Lh¢me become ambassador& and Champions of the Centre, introducing new volunteers and participants filmed, naated and produced proinotional videos, sn support of the Cet]tre demonstrated best practice and shared expertise with the Brooke's Horse Welfare Harness Advisor through an instrllctional film to bE shared internationally undertook the epic 1&5k of organisatioii and hosting 340 guest5 to attend Ludlow Raceeourse's annal Charity Race Day, raising fund5 to support expansion Df our oper&tions Our community of sllPPOrt increased thanks to a rnnge of events Visited and hosted on aRd off-site including taek sales. craft fayre and country shows. Ludlow Charity Race Day and all online auction w¢re a huge succe55 in rnising Inuch needed fijnds 10 SUPPOrt the Centre's ambitions to reach tver more people. Quote5 from our volunteers: 'It's a magiculplace and il's great li dyisis. 'lihillk fhe Trvholeplace is wondepfiilfoi. the work it do andihe supporl andoppol.hii1iÈsfQrjo mL7iypeopIe.' 'Eveiyone spassronfor the Cijvalier Centr¢ refreshlng worldfuIl ofNegaiivity.' 'Ii s opleL7sure andprivilege volunteering ÉFI the C(ryaliEr Cenlie. Wliat Dext? Oui. challengc over the coming year will be to increase the l'each of our 10 core programmes to include mole beiieficiaries, m&ximising evel'y spare minute attd squai'e inch of our facility to make the most of the opportunity afforded to U5 by the fllnds raised during th¢ Ludlow Charity Race Day. That)ks to this extra support we will have the staffkng capacity to enrich and empower moiE ILVES through hoi'ses. Page 6
Th¢ Cavalier Centre Ltd Trustees, Report Public bejiejll In setting tl)e objectives and planning the activities, the Trustees have giveii careful con5idei'ation to thp Lharity Coinmission'5 general guidance on publi¢ beii¢fit. As onc of the leading specialÉsod i'iding ceDtres ID Shi'opshire. The Cavalier Centre not only benefits people with special needs but also the entire cominunity. giving opportunities foi. volunteerin& school participation and practical experience foi. rhildrcn and adul¢s workiTkg with people &nd animals. The trustees confirm that they have complied with the requirements of section 17 of the Charitie$ Act 2011 to have due Tegard to the public benefit guidallc¢ published by tlie Charity CoittTni$$ion for Eng]and and Wales. Flnanelal r¢view The fundraising efforts of the staff. volullteers and Trustees of the Charity continue to go from strength to strength with £164,170 of donations and grants received for the year ended 31 Mai'ch 2024 and a further £135.720 from fundraising events held in the Centre and in the local COEnmunity. Grants and donations were received to support job roles and projects such as the Steps prograinme, Taking the Reins project, Changing Lives throLTgh Horses programme and the Activities Coordinator wst. Income froin charitable aetivities totalled £113,208, which included £71,358 from RDA lessons and related activities and £21.210 from programmes including Stable Relationships and Changing Lives through HoiBes llnd £20,640 froin the hire of facilities. The chaTsty's total expenditsre was £318,403, of which £286,525 was on running its charitable activities. The main costs foi. the year are salaries of £168,095, depreciation of £52,640 and pony livery and related cost& of £19,790. Net Surplus for the year totalled £96,554. Pdliey on reserves The Trustees have carefully examined the Charity's requirements to hold a minimum level of reserves in light of any perceived risks to the Charity's activities. The TrusLtes r¢Lvw]ise ihE n¢td for a reonable of financial reserves in order to protect the Charity fi.om the p05sibilÉty of any adverse or unforeseen circuMstanc¢s that could aTise. The Trustees have therefore Established a policy where the unrestrtcted fvnds not committed or invested in tangible assets held by th¢ Chaiity should be twenty Six weeks of the Charity'5 annual expetjditure o payrnll costs, property operating expenses, activity cost5 and adlnitktralio expenses. In the event that there was a significant drop in fvndin& it has been identified that the Charity will need to tLave access to unre5tri¢ted reserves with i current Value of at least £117,000, whi¢h r¢pr¢5enls twenty six weeks of the Charity's annual expens¢s. At 31 March 2024 the unrestricted Ulldesignated r¢senTes totalled £211,869 (2023 £88,711). Th¢ Trustees have increased unrestricted I.es'VeS over the year to enable core prograTmnes to increase the numbers of participants and to inciEasE capacity to delivei. more oppOrt[ltIes. The Tiustees are takiiig appropriate steps over the next financial year with the aiin of maintaining the level of these reserve5 to rneet tlie perceived futui'e needs of the Chai'ity. Page 7
The Cavalier Centi'e Ltd Ti'ustees, Report Small eompanies provision statement This report has been piepai'ed in accordance witl) the snlall companRes i"egime under the Companies Act 2006. The annual report was appi'ovEd by the tISteeS of the clmrity on 25 July 2024 and signed on its behalf by.. Selina Graham c11mlan and tTU5tee Page 8
The Cavalier Centre Ltd StatemeR]t of Trust¢e5' Re5P0115ibilitAe The tt'ustees (who are also the directors of The CavalEer Centt'e Ltd for the puip05es of coinpany law) air IESPOllsible foi. PTeparin¥ the ti'ust¢trs' reporl and the fiiian¢ial statemeiils in accoi'dance with applicable law aE)d United Kingdom Accounting Standar(ts. (United Kingdoin Generally Accepled Accounting Pra¢lice). including FRS 102 'The Financial ReporliTrb Sl&tnd(Ird appli¢&ble in the UK and Republic uf li'elartd" Tlie report (IE]d accounts haye been prepared in accordanLE Witli the provisions the CornpaTries Act 2006 relatins ID small companies. Coinpany law requires the ti'ustees to prepare financial stateinents for each fll)ancial year. Under company law the trustees must t]ot approve the financial statements unless they are satisfied that they give a trne and fair view of the state of affaiTS of the charitable company and of the incoming resources and application of resouires. incliiding its incoine &nd expenditure, of ihe charitable company for that period. In preparing these financial stcltements, the trll%tccs are required to.. select suitable accollnting policies and apply them consistently- obserye thE tnethi)ds aThd principles in the Chai'ities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable ac¢ountÈng standards, comprising FRS 102 have been followed. subject to any material departure5 disclosed and explained in the fanCIal statements. and prepare the ftrvdncial statements on the going concern basis unless it is inappropriate to presume that the charitable coJnpaTry will continue in business. The trustees are responsible for keeping propcr a¢¢ounting rccords that can di.%clo4e with reaEonablc accuracy at any time the finaThcial p05ltion of the ¢haritabl¢ company and enahlc thein tn ensure that the financial statcments comply with the Companies Act 2006. They are als9 reSPQTbsible for safeguarding the assets of the ¢h8ritable company and h¢nce for taking reasonable steps for the prevention and detection of fraud and other irregularitie Th¢ trustees are YespDnsible for the maintenance and integrity of the ¢oJyorate and financial inforniation included Oll the eharitable company's web51te. Legislation governing th¢ pr¢paration and dissemination of financial Stsiements may differ froin legislation in other jurisdictions. Approved by the tnteeS of the charity on 25 July 2024 and signed on its behalf by.. Selina Graham Cliainnan and trLtstee Page 9
The Cavaliei. Centi'e Ltd Independent Examiner's Repoi't to tlie ti'ustees of The Cavalier Centre Ltd {'the Company,) I repoit to the charity trustee5 011 my examiiiatiotl of the acwunt5 of tlie Company for tht year ended 31 March 2024. RespoiisibÈlities #rtd basis of i'eport A5 tlie cliavity's triistees of tlie Coiknpaiiy (and also ils directors for tlje purpostrs of coinpany law) you are i'esponsible foi. the pirpayation of the aCcot5 in accordallcc Wlth the I'cquireEneats of the Companits Act 2006 ('the 2006 Act.). H&ving satisfied myself ihat the a¢¢oiittts of the Company are not Yequired to be audEted llndei. Part 16 of the 2006 Act and are eligible for ijidependeiit txaniinatioii, I repoTt in respeci of my exaiiiiEiation of you¥ cliai'ity's accouiits as cai'ried out und¢i' section 145 of the Cliai'ities Act 2011 ('the 2011 Act'l. In caiiying out my ex8171iiiation I have followed tlie Directions oiven by the Cliarity Commission under section 145{5Xb) of the 2011 A¢[. liidepeiident exAniiner'5 StAteiMent Sillee the Company's gross income ex¢¢eded £250,000 your examiner must be a member of a Ix)dy listed in section 145 of the 201 l Act. I confirm that E am qualified to uiidertake the exaii)inatioii because l aitt a niember of ICAEW, which is one of Ilje listed bodies. I Iiave ¢oinpleled My examittation. I confirm that no mgtters have cojne to tny attelltÉon itt connection wttli tlie examination giving me cause to believe.. accountijig Tecoi'ds wert Iiot kept in resp¢¢t of The Cavalier Certtre Ltd as requii'ed by se¢tio• 386 of tlie 2006 Act; or 2. the a¢¢ounls (lo not aOrd witli those I'¢¢ords' or 3. the accouijts do not comply witli tlie accountiiiu requireniellts of section 396 of the 2006 Act othu tlian any requiieinent Iliat tlie èc¢ounts give a'ttve and fair view, whieli is not 2 matter conskdered as part of an independLiit exaTniiiatIon' oi. 4. tlie ac¢ouiits have not b¢¢n prepaiEd tn &ccoi'daTrce with the Methods and pi'inciples of the Statetnent of Rewimn)ended PracLi¢e fot accounting reportiijg by charities [applicable to charities pi'eparing their accounts in accoi'dathce with tlie Finan¢ial ReportiIig SiaTidaYd applicable ir tile UK and Republi¢ of li'eland (FRS 102)]. I ljave no coiieerns and have me across no other mallei3 in cortnection wi¢h Ihe examination to which attention should be drawn IN this repoit in order to enable g4 proper understanding otihe account5 to be rhed. Louise Osselton fcA CBSL Accouiilaiit5 Liinited ICAEW Rowan House Noith l Tlie Professional Qiia11er Slir¢w%bury Business P&i'k Shi'ew£hury Sliivpshii'e SY2 6LG P&ge 10
The CAvalier Centre Ltd Statement of Finan¢ial Activities for the Year Ended 31 March 2024 (Including Income and Ei xpenditure Account and Statement of Total Rccognised Gains and Losses) Unrestricted funds RE5tricttd fut]ds Tot21 2024 Note Incorne And Endowments from: Donations ond legacies Charitable actLvilies Other ti'ading activities Investment iiicome 42,995 113,208 135,720 1,859 121,175 164.170 113,208 135.720 1,859 Total income 293,782 121,175 414,957 Expenditure oll: Raising funds Chaiitable actiyities {31,523) (139,101) (355) {147,424) {31,878) 286,525) Total expenditur¢ (170,624 {147,779) (318,403 Net incomol(expenditui'e) Net movement in funds 123,158 {26,604) 96,554 123,158 {26,604) 96,554 Reconciliation of funds Total funds brought fonvard 196,408 1,299,847 1,496,255 Tot81 funds canied fonvard 319,566 1,273,243 1,592,809 The notes on pages 14 to 27 fortn an integral part of these fjnancial statem¢nt5. Pagell
The Cavalier Celltre Ltd Statement of Financial Activities for the Year Ended 31 March 2024 (Ineluding Income and Expenditure Account and Statement of Total Recogni5ed Gains and Losses) Unrestricted fund5 Reslricted funds Total 2023 Note Income Emdowments from: Donations and legacies ChaTltable activitlES Other trading activiti¢s Investinent in¢oin¢ 16,066 133,513 6,448 473 197,680 213,746 133,513 6,448 473 Totrdl income 156,500 197,680 354,180 Expenditure oll: Raising funds Charitable activitie5 {4,609) {160,774) (4,609) (275,502) (114,728) Total expenditure (165,383) 114,728 1280,111 Net lexpendilure)lin¢ome Transftrs between funds (8,883) 18,390 82,952 (18,390) 74,069 Nel movenTreni in funds 9,507 64,562 74,069 RecoJLciliation or runds Total ndS brought fonvard Total funds ¢an'ied forward 186,901 1,235285 1,422,186 21 196,408 1,299,847 1,496,255 All of the charity's activities derive from continuing operations during the above two periods. The fid5 breakdown for 2023 is Shown in not¢ 21. The note5 on Pdges 14 to 27 fomi an integral part of the financial Statements. Page 12
The Cavalier Centre Ltd (Registration number: 08737154) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed asset5 Taugible astS 15 1,251,844 1,292,421 Current assets DEbtoi% Cash at bank and in hand 16 17 37,273 317,161 20,064 189,137 354,434 209,201 15.367 Creditors: Amounts fxlllng due within one year 18 (13.469 Net current assets 340,965 203,834 Net assets 1.592,809 1,496,255 Funds of the charity: Restricted income funds RestriLttd funds 1273,243 1,299,847 Unrestricted 5Aeotne funds Designated Funds Unrestricted Funds 107,697 211,869 107,697 88,711 Total unrestricted funds 319,566 196,408 1,496,255 Total funds 21 1,592,809 For the financial year ending 3 1 March 2024 ihe char2ty w25 entitled to exemptitrtt from audit under section 477 of the Companies Act 2006 r¢lating to small eompanies. Directors, responsibilities- The members have not required the Chai'ity to obtai[] aE] audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their respottsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial sta¢etnents have been prepared in accordance witli the special proyisions relating to companies subject lo the small compElliE5 regirne within Part 15 of the Companies Act 2006. Th¢ financial statements on pages I I to 27 were appi'oved by the trustees, and authorised for issue on 25 July 2024 and signed on their behalf by.. Selina Graham Chairman alld trustee The notes on pages 14 to 27 fonn an integral part of these financial statement5. Page 13
The Cavalier Centre Ltd Notes to the Financial StatemeThts for the Year Ended 31 March 2024 CILarity status The charity is liinited by guaixntee, incorporated in England and Wales, and eoftseqiiently does not have share capital. Each of the trustees is liable to conh'tbute an ainoiit)t not ex¢eediIig £1 towards the assets of the charity in the event of liquidation. Tlie Charity's I'egistered office and prinicipal addTe55 is The Cavalier Centre, Bradley Fann, Farley. Miich Wenlock, Shropshire, TF13 6PE. The Company REgisti'atiOTk Number is 08737154. 2 Accountig polRcits Summary of signifieanl aecounting policies key 3ccollntiThg eStialeS The prin¢ipg1 accounting policie5 applied in the preparation of these fEnancial stateinent5 are Set ot below. These poli¢i¢s hav¢ been c0Tr515tently applied to all the years presented, unless othenvise ststed. StAtement of eomplianee The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. St&tement of Recomtnended Pi'actice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting standard &pplicable in the UK and Republic of Ireland issued in October 2019, the FancIal Reporting Standard applicable in the United Kingdom and RepublÉ¢ of Ireland (FRS 102), the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice. Basis of preparalion The Cavalier Celltre Ltd meets the definition of a public benefKt enlity under FRS 102. Assets and liabilities are initially recognised at historical cost or bw]5action vallle unles5 Otherwise stated in the relevant accounting policy n(Ites. Going concern The trustees consider that th¢r¢ are no material uncertainties about the chariws ability to Continue as a going concern nor any signifi¢ant areas of uncertainty that affect the canying value of assets held by the charity. Exemption from preparing a cash now 5tatem¢nt The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Ineome and endoivments All income is reeognised once the charity has entitleinent to the in¢orne, it 15 pi'obable that the incoine will be rtceived and the amount of the income r¢c¢ivable can be mea5UTed reliably. Donullojis rtnd legftcies Donations are recognised when the charity has bcen notified in writing of both the amoiint and settlement date. In the event that a donation is subject tD conditions that IEqUlI'e a level of perfonnance by the charity before the chai.ity is entitled to the fi]nds, the income is deferred alld not recognised until either those conditions are fijlly met, or the fulfiLment of th05e condititrns is wholly within the conli'ol Lif the chai'ity and it is probable that these ¢onditions will be fulfilled in the reportfftg period. Page 14
The Cavalier Centre Ltd Notes to the Financial Statements for the Year Ei ndcd 31 March 2024 Groiils reeelvftblé Grants al'e Ircognised when the charity has an entitlement to the funds and amy conditions linked to the gTants have been met. Whej'e pertormanee conditions are attached to the grant and are yet to be met, th¢ income is recogtLised as a liability at]d included on the balance sheet as defeiTed incoine to be iEleased. Iiivesliiiejil iiicoine Dividends are iecognised once the dividend has been declared and notifIcation has been received of the dividend due. Expenditui'e All expenditure 15 recogmised once there is a legal or consttuctive obligation to that expenditure, it is probable settlement is required and the ainount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar c051s to that category. Where Costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with ihe use of resources. with central staff costs allocated on the basis of time spent, and dePreCatIOn charges allocaied on the portion of the asset's use. Other siipport costs are allocated based on the spread of staff costs. Rtti51iigfuiids These are costs incurred in attracting volunt8ry income, the management of investments and those incurred in trJding activities that raise fund5. Cliftrlirtble Ncliwilies Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and 5¢TViC¢S for its benefL¢iai'ies. It includes both costs that can be allocated directly to Such activities and those costs of an indirect nature necessary to support th¢m. Support Costs Siipport costs include Central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Governance eosls These include the costs attributable to the chaTity's compliance with eon$titutional attd stathtory requirements. including audit, strategic matkageinent and trustees Meetin and Teimbursed exp¢n$es. Taxatlon The charity is consideied to pass the tests set out in Paragraph I Schedule 6 of the Finall¢¢ Act 2010 and therefore it meets the d¢finition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt froin taxation in respect of income or Capital gains received within ¢ategories ¢overed by Chapter 3 Part I l of the Corporation Tax Act 2010 01. Section 256 of the Taxation of Chargeable Garns Act 1992. to the extent that such incoine or gallis air applied exclusively to charitable purposes. Tangible fixed a55ets Itkdividual fixed assets costing £100.00 oi. more are initially recorded at Cost. Page 15
The Cavalier Centre Ltd Notes to th¢ Finan¢ial Statements for the Year Ended 31 March 2024 Depreciation and aThorti$8tio Deprcciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated Irsidual value, over their expected useful econoinic life as follows.. Asset cla55 Fixtures, fitting5 and riding ¢quipin¢nt Motor v¢hicles Ponies Leasehold buildings Depr¢ci8tion method and rate 25/0 straight Itne IOO/o Straight line 100/9 StTaight lin¢ straight line over the lease t¢rni The ponies are initially not depreciated as investment is requiird to train the horses to be suitable for RDA use. Fund structure Unrestricted income fund5 aTe general funds that are available for use at the trustees discretion in fvrtheranee of the objectives of the charity. The trustees have designated hdS to enable the partial repayment of the V AT payable to HMRC when business use is more extensive at the Cetttre and the zero-rating of the new Centre is no longer allowable. Restricted sncome funds are those donated for use in a particular ar¢a or for sp¢¢ific putP05es. the use of which is restricted to that area or purpose. The purpose and uses of the restri¢ted fund5 are set out in the note5 to th¢ financial statements. Pension5 and other post retirement obligfttions The charity operates a defined contt'ibution pensioTh scheme which is a pension plan und¢r which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further conliibulions even if the fund does not hold sutyieient assets to pay all employees the benefits relatg to eP[yee service in the cunEnl prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a pi'epayment. 3 Income from donations and legaeies Unrtstrieted fund5 CTellei'al Rc5trietcd funds Total 2024 Tot21 2023 Donations and legacies. Donations from companses, and siinilar proceed5 Donations froin individuals Grants, including capital grants-, Grants froln other Lhariti¥s 15,677 22,318 15,677 25,318 5,087 12,270 3,OQO 5,000 118,175 l23,175 196,389 42,995 521,175 164.170 213,746 Donations from companies, bvsts and siinÉlar proceeds includes £15,677 ts'ansfeiyed from the merger of the Wolv¢rhaiDpton and East Shropshire RDA. Page 16
The Cavalier Centre Ltd Notes ¢0 the Financial Statemellts for the Year llded 31 March 2024 4 Incoine from eharltable activities URrestriettd fund5 General Total 2024 Total 2023 Ridin& drivin& vaulting and hippotherapy Facilities hire 92,568 20,640 92,568 20,640 113,208 102,835 30,678 133,513 113,208 S Income from other tradIg aetivities UJkre5tricted funds Genergl Total 2024 Total 2023 Events income. Other events income Lo¢al fundraising events and illerchandise income 117,146 18,574 117,146 18,574 6,448 135,720 135,720 6,448 The ¢harity held a very successful Ludlow Race Day event and online auction to rai funds to support its haritabl¢ objectives. During th¢ year the ch"Ity held and attended a number of local events to rdi5e funds including stands at Burwarton and ¢10l* shows. dressage to Inusic, Taffles, dog agility day, cai. boot sale a]id ju]nblebee auction. 6 Investtnent iNc0e Unreslrieted funds General Total 2024 Total 2023 Interest receiwable and sim2ldr income. Enterest receivable ort bènk deposits 1,859 1,859 473 Page 17
The CAvalier Centre Ltd Notes to the Financial StateRllents for the Year Ended 31 Mareh 2024 7 Expenditure on raising funds Costs o(gener&ting donatjOJ15 and legacies Unrestricted fund5 General Restricted fvRd5 TotAI funds Fundraising events Bnd merchandise costs Ludlow Race Day costs 3,755 27,768 280 75 4,035 27,843 Total for 2024 31,523 355 31,878 Total for 2023 4,609 4,609 Page 18
The Cavalier Centre Ltd Notes to tbe Financial Statements for the Year Ended 31 March 2024 8 ExpendTture on chai'RtAble aetlvitles Unrestricted fund5 Gtntral Restricted funds Total 2024 Note Riding, driving. vaultirÈg 2nd hippothETapy Dcprcciation, amoriisation and other similar costs Staff Costs Allocated support ¢ost$ Governance costs 26,816 60 26,876 1,701 73,520 33,278 3.786 50,939 94.575 1,850 52,640 168.095 35,128 3,786 139,101 147,424 286,525 Unrestrieted funds Desigttatcd General Restricted funds Total 2023 Note Riding, drivin vaulting and hippothei'apy Depreciation, amortisalion and other sirnilai. costs Staff Costs Allocated support costs 28.652 3,130 31,782 4,320 100,217 50,646 54,114 54,966 154,331 27 24,496 3,062 6,838 31.301 3,062 Govemance ¢ostS 27 160,747 114,728 275,502 The I'iding, driving, vaulting and hippotherapy expendÉture is analysed as follows.. Unre$trleted fund5 CeDeral Restricted fund5 Total 2024 Total 2023 Pony hiK liyery, vet and farrier fees Training and sp1&11$t insti'uctors Insurance and meinbership Lorry and equipment repairs and maintenance Learning Tesources 19,730 60 19.790 19.306 350 7,652 5,354 5.354 1,974 2.500 1,732 1.732 26,816 60 26,876 31,782 Page 19
The Cavalier Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 9 Analysis of governance support eosts Suppoit and governance costs are allocated against the unrestricted general fuuds Unless they meet the conditions relating to specific iestricted fvnds. Allocated support ¢osts Unrestricted funds General Restricted funds Total 2024 Phon¢, statsonery and administration costs Website alkd n]arketRng costs Staff training Travel costs Rent Building mainteajance and equipment repairs and renewals Light, heat and power Bank charges 9,144 507 836 2,406 4,999 91 9.235 507 836 2,552 4,999 146 8,012 5,120 2,254 1,613 9.625 5,120 2,254 33,278 1,850 33,128 Unrestricted funds Designated General Re5trÉcted funds Total 2023 Phone, stationery and administration costs W¢b5ile Lind rnaeting costs Staff ti'aining Travel costs Rent Building maintenance aiid equipinent repairs and renewals LighL heat and power Bank charges Bad debt written off 6,198 178 3,158 522 4,708 909 7,107 178 3,158 698 4,708 176 4,654 3,310 953 815 5,753 10,407 3,310 980 815 27 27 24,496 6,838 31,361 Pag¢ 20
The Cavalier Centre Ltd Notes to the Financial Statements for the Year Dded 31 March 2024 Governance costs Unrestricted funds General Total 2024 Total 2023 Independent exait)inei' fees Examination of the fjnancial stateinents Le1 fees 1,956 1,830 1,956 1.830 1,944 K,118 3,786 3,786 3,062 10 N¢t incomingloutgoing resources Net incoming resources for the year include: 2024 2023 Loss l {Profit) om disposal of fLYed assets held for the charity's own use Depreciation of fixed assets (1,9251 54,565 (301) 55,267 11 Independent examiner's remuneralioii 2024 2023 ExaJnii)atiOEJ of the financial statements 1,956 1,944 Page 21
The Cavalier Centre Ltd Notes to the fiinancial Statements for the Year Ended 31 March 2024 12 .8taff costs The aggi'egate payroll costs were as follows.. 2024 2023 Staff costs durRng the year wore: Wages and salaries Social security costs Pension costs 156,127 7,188 4,780 143,104 7,206 4.021 168,095 154,321 The monthly averdge numbei. of persons (Éllcluding senior manageElit I leaderthip tea) ernployed by the chw'ity during ihe year expressed as full tllne equival¢nt5 was as follows: 2024 2023 Dir¢ct 8 (2023 - 7) of the #bove employees paiticipated in the DefEned ContribulÉon PensiDtJ Schemes. No employee received emoluments of Inore t5rt £60,000 during the yeai.. 13 Trustees remuneratton 2nd expenses No trnStc Iior any p¢rsons connected with ihem, haye rec¢ived any retnuneration froin the charity during the year. No trustees have rec6ived any reimbursed expenses or any other benefits fi'om the charity during the year. 14 Taxatlo The chariry is a registered charity and is therefore exempt from taxp4tion. Page 22
The Cavalier Centre Ltd Notes to the Financial StaÉenRents for the Year Ellded 31 MArch 2024 IS Tangible fixed gs5¢t$ Land and buildings Fui'nilure aiid equiprnent Other t¥tiigiblt rixed asset Motor vcliieles Total Cost At l April 2023 AdditlOll5 Disposals A¢ 31 March 2024 1,453,084 6,248 47,233 7,464 800) 42,625 14,845 4,551 (4,750) 1,557,787 18,263 (5,550) 1,459,332 53.897 42,625 14,646 1,570,500 Depreciation At l Api'il 2023 Charge for the yeay Eliminated on disposals 177,925 48,491 42.188 3.619 39,889 1,028 5,364 1.427 265,366 54,565 (soo 1475) 11,275 At 31 March 2024 226,416 45,007 40,917 6,316 318,656 Net book value At 31 March 2024 1.232.916 8,890 1.708 8.330 1,251,844 At 31 M3rch 2023 1,275,159 5,045 2,736 9,481 1,292,421 Included within the net book value of land and buildings above is £Nil (2023 £Nil) in Irspect of freehL)Id land 8nd buildings and £1.232,916 (2023 £1.275,159) iji respect of Reth01d$. 16 Debtors 2024 2023 Trade debtOTS Prepayments 12,658 24,615 15,073 4.991 37,273 20,064 17 Cash *Rd eash equivalents 2024 2023 Cash at ballk 317.161 189,137 P8Ee 23
The Cavalier Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 18 Creditors: amounts falling due within one y¢ar 2024 2023 Other taxation and social security Accrnals 2,668 10,801 469 4,898 13,469 5,367 19 Pension and other schemes Defined conlribution pensiort seheme The charity operates a defed contribution pension scheme. The pension cost chai'ge for the year represents ¢ontributioll$ payable by the charity to the scheme 2nd amounted to £4,780 {2023 . £4,021). 20 Commitments Capital commitEnellt5 On 30 April 2017 the Charity entered into an agreetnent for a 30 year lease with all irrevocabl¢ option to ¢xtend at the end of the f]rst tei'm for a fi]ithei 30 years for the site at Much Wenlock. Th¢ total aM0t contracted for but not proivided in the financial statements was £77,880 (2023 - £81,500). Page 24
The Cavalier Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 21 Funds Balance at I April 2023 Incolg resource5 Rtsourecs Expended Balanee at 31 larch 2024 Unre5tTiclcd fund$ Geiterftl General 88.711 293,782 (170,624) 211,869 Desigiiuled Designatcd 107,697 107,697 Total unrestrict¢d funds 196.408 293,782 170,624) 319.566 RestrÉcted funds Cavaliei. Centre Riding, driving, vaulting and hippotherapy attd running cost donations National Lottery grant Step in the Right Dii'ection project Energize Shropshwe Taking the Reitt8 project Gai'den and related activities Activites Coordinatoi. Changiiig Lives through Horses Vehicles fiEnd Lkad Up International training days 1,244,328 15,000 (51,277) 1,208.051 9,210 91 19.862 20,000 (16,961) (1.371) 18.720 11,713 32,163 8,400 {30,399) (8,400) (6,024) {3,764) 114,797) (14,786) 13,477 9,000 4,978 14,647 5,880 2,976 1,214 4,850 3,094 7,500 5,000 12,000 7.500 1,250 1,250 Totgl restricted funds 1,299.847 121,175 147,779 1,273,243 Total fund$ 1,496,255 414,957 (318,4031 1,592,809 Page 25
The Cavalier Centre Ltd Notes to the Fillancial Statements for the Year Ended 31 March 2024 Balance at 31 Marcli 2023 B8lan¢e at I April 2022 Ineomlng resourtes Resources expended Tr2n5fers UIirestrÉcted funds Geiierul General 79,778 155,899 (165,356) 18,390 88,711 Deslgiiuled Designated 107,123 601 27 107,697 Total unrestricted funds 186,901 156,500 (165,383) 18.390 196,408 Restriot¢d Cavalier Centre Riding, drivin8, vaulting and hippotherapy and Tuthning cost donations FamEly & Volunteer Link8 Manager Nation81 Lottery grant Step in the Right Direction project Energize Shrop5hir¢ Taking the Reins proj¢¢t Garden and related activities AcÉivit¢s Cooidinator Changing LiY¢8 through Horses 1.224,525 71,120 {52,698) 1,381 1,244,328 5,500 7,830 (3,239) (881) 9,210 1,276 17,114 919 (18,3901 (828) 3.984 36,834 8,631 12.000 10,59 17,665 {29,105} (8,631} (3,000) (5.113) {3,018) 11.713 9,000 4,978 14,647 {500) 14,976 (9,096) 5,880 Total restrieted futtds 1.235,285 197,680 (114,728) (18,390) 1,299.847 Total funds 1,422,186 354,180 (280,111 1.496.255 The Sp1[1( pU05¢S for which the fLmds are to be applied aiE as follow5: General fuTEds are unrestricted and available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. The Trustees have designated fi]nds to enable the repayinejit of VAT on the Cavaliei. Centre following the increase in busines5 Else. Restricted funds relate to the Cavalier Centre, Ihe extension and development of the garden facility and provision of vehicles., donations given to cary out the charRtable objectives of riding, drivin& vaulting and hippotherapy lessons, including enrichmeIit for horses; to fund roles within the Charity (including tlie l.amily and Volunteer Links Manager and the ALlivilies Coordinatoi')- National Lotteiy gvdnt to support the Centre- nding for the 'Step in the Right Direction.. 'Taking the Reins,, 'CliarEging Lives through Horses, program]nes and Lead Up International training days. Energize Shropshire grant to support the All In subsidised riding lessons and At Home with Horses prostamme. Page 26
The Cavalier Centre Ltil Notes to the Financial Statements for Éhe Year Ended 31 Mal'ch 2024 22 Analysis of net &ssets betiveen funds Total funds at 31 March 2024 Unrtstricted funds GenerAI Designated Restricted funds Tangible fixed assets Current assets Current liabÉlitiEs 12,609 212,729 (13.469) 1,239,235 34.008 1,251,844 354,434 (13,469) 107,697 Total net ossets 211,869 107,697 1.273,243 E,592,809 Tot81 fund5 at JI Mareh 2023 Unrestricted fund5 Gcn¢ral Designated Restrleted funds Tangible fixed assets Current assets Current liabilities 48,094 45.984 5,367 1,244.327 55,520 1,292,421 209,201 5,367 107,697 Total net assets 88.711 107,697 1,299,847 1,496,255 Page 27