VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 1128 Charity number: 1163302 ROYAL ARMOURED CORPS SADDLE CLUB UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 2128 ROYAL ARMOURED CORPS SADDLE CLUB CONTENTS Page Reference and Adminislrative Details of the Charity. its Trustees and Adviser5 Trustees. Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 9-24
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 3128 ROYAL ARMOURED CORPS SADDLE CLUB REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025 Trustees Ms Emma Theunissen MA FC& Trustee, Treasurer Lt Col (Retdl Richard Jan)es. Deputy Chair Ltd Col Anthony Edward Shamian, Trustee (resigned 7 March 2025) Mr Jonathan Mark Philips, TNstee Lt Col Terry Warburton, Trustee (resigned 7 March 2025} Mr Terrance Timms, Trustee Mr Scott Itoblnson, Chalr lappolnted T March 2025} Ms Carla Hillman, Trust*, Secretary (appointed 7 March 20251 Charity registered number 1163302 Principal offico Allenby Barracks Bovington Wareham Dorset BH20 6JA Independent exarniner James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Parf( Newbury Berkshire RG19 6AB Page 1
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P4126 ROYAL ARMOURED CORPS SADDLE CLUB TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 The trustees present their report and finanual staternent5 for the year ended 28 February 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the chariws goveming documents, the Charities Act 2011 and Accounting and Reporting by Charibes.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial ReportÈng Standard applicable in UK and Republic of Ireland published in October 2019. Trustees during the year.. Lt Col Terence Warburton (Chairl resigned 7 March 2025 Lt Col Richard James (Deputy Chair) Terence William Timms Jonathan Mark Phillips Isecretaryl Emma Lucy Theunissen MA FCA (Treasurer) Ltd Col Anthony Shamian regned 7 March 2025 Structure, Governance and Management The Royal Amioured Corps Saddle Club Yhe is govemed by its Constitution adopted 28 July 2015. Trustees oversee the strategic direction and management of the charity, meeting regulady through the year. Obieciivas and Activities The charity exists to". Promote the efficiency of the Amied Force5, particularly the Household Cavalry and Royal Armoured Corps. through equestrian trainir¥J_ Promote community partIpation in amateur sport. including for young people. older people, and Individuals with disabilrties. Public Benefit Statemenl The trustees confirm they have had due regard lo the Charity Commission's guidance on public benefit. Activities support fitness. confidence. wellbeing. and inclusion for military personnel and the communty. Achievements and Performance This has been a busy and producb.ve year for The Charity. Our strategy focuses on preserving and expanding the Charity's dual mission.. equestrian fitness and cohesion for Armed Forces personnel, alongside broad community indusion, particularly for disabled riders and young people. By diversity'ng income, deepening partnerships, investing in volunteeTS, and promoting visibility. the club aims to enhan its Tesilience. broaden its impact, and ensure long-tenn sustainability. To this end. the Club has induded the provision of a full suite of services and events induding.. Pony Club Centre+ raS1ies. camps and training. Expansion of the therapeutic"Changing Lives Through Horses" programme. Hosting an extensive calendar of events which generate both income and profile for the dub. Livery services provided to both military and civilian clienls. In tenms of our key charitable objectives.. We have continued to increase and diversify our supw to the Amed Forces. Notable achievements indude.. 50Yo of our members are Military, and we continue to strive to increase military participation. In collaboration with the Garrison, in the period we provided training for troop leaders, many of whom also benefited from a 50% discount on additional riding lesson at the Saddle Club. Our Spurs Course was a notable success in the year. culminating in the presentation of mess spurs to young Cavalry officers. We also continued our partnership with the Household Cavalry Mounted Regiment. Phase 2 recruits completed horse care training, preparing them for their duties al Knightsbridge. We have fostered increased participation from Royal Marines families. with many leasing Saddle Club Page 2
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 5128 ROYAL ARMOURED CORPS SADDLE CLUB TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 ponies for children's activities. We have also focused on our Mqder military support. including Tunning training events with the Army Mr Corps and Royal Navy Grass Roots Teams, as well as an inaugural camp for Forces Wives. A highlight of the year is that our Head Coach and Yard Manager, Stephanie Buchanan 8HSI BEM, successfully trained Captsin Holly Day. who competed for the Amy Equitation at Windsor and qualified for the Badminton Grassroots event. Community engagement. and welfare 5UPPOrt'. We continued our support of local charities and care institutions in this period. This nolabty included a wsil from residents of a local elderly care home. where Partipants had the chance to ride a horse. In gratitude. Care South donated £1,000. which was used to replace tack and rugs for our hard working club horses. We've also seen an increase in young people participating in the British Horse Society - CharKJing Lives Through Horses {BHS CLTH) Horses programme, which is now running four days a week. Our ongoing commitment to the Riding for the Disabled Associalion {RDA) continues. with sessions held once a week. Investsnent in our faalities.. While we were disappointed to cancel our BrilBh Eventing fixtures in the period due to adverse weather conditions, we have undertaken investment in our facilities, including the drainage of our cross county course. This allowed both our flagship events to operate in the followng year. We have undertaken a full upgrade of the floodlighting for the large arena, funded by Army Welfare Fund and Babcock International. We have also developed a new 70 cm cross country eventing track designed by Adrian Drtcham. This allows us to develop more partiupalion in our sport at all levels, ages and abilities. A real highlight has been the arrival of four rescue ponies Teddy. Mac. Chip. and Pipel - they have settled in well, and are expanding our Pony Club capacity. Financial Review In the year to February 2025. the club made a £45.5k net contribution to Teserves. FY24 net contribution £39.7k. Of this £50.3k was raised through grants and donations - these have funded a new cross country track for our younger and less experienced riders. and llood lights for the school which allow The Charity to extend its operating hours safely. While these are excellent developments which support The Charity's income generating operations for the future, it is notable that after excluding these amounts the dub made a small operaling105s in the peTlQMg. One of the drivers for this is the adverse weather conditions in the peric&l. which impacted our events Income. A key aspect 15 also the rising wage bill - which has been impacted by Tises in the minimum wage. As a result we adjusted our rate card followng the year end. Lwking fOard the UK is experiencing uncertain economic times. Costs are rising, and household incomes are being squeezed. More pressure on military expenditure might conceivably also mean sources of military funding may be limited. On expenses our single biggest expense {staff cost51 continues lo rise. We a150 need to fund capital expenditure on a key asset {the all weather schoDII Mthich wll be a focus of fund raising in FY25126. In summary - while the Charity continues to be in good financial shape - we will need to continue to be agile to develop diversified income streams in order to slay in this place. We continue to be very reliant on those who volunteer- on the gates or jump judging on game day. helping with applications, painting fences. We are hugety gralefvl for this continued support. Page 3
VkiuaBunatLnTrarffjxlvM Ref. 7KGZG6WDS 19Dec2025 08..11.'42GMT (UTC 40) D 111 P6126 ROYAL ARMOURED CORPS SADDLE CLUB TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 The charity remains a going concem based on reseNes and forecast income. Resorves Policy To ensure that the charity holds sufficient liquid reserves to meet its short-lerm financial obligations The Charity will maintain a minimum level of free reserve5 li.e. unrestricted cashl equivalent lo at least three months, worth of committed operating expenditure, which include5 but is not limited to= staff salaries and assoaated costs Insurance premiums Rent and utilities Vehicle running and maintenance wsts Any other essential recurring obligations This level ensures that, in the event of an unexpected disruption to income or operations, the club can continue to function and meet its responsibilities while alternat.ve funding or adjustments are sought. In addition to maintaining operational reserves, the charity recognises the Importan of preparing for foreseeable capital expenditures le.g_ equipment, facilities upgrades, vehicles). Key anticipated capital expenditures shall be considered and planned for on a rolling basis. Where such expenditures are agreed in principle, specific reseNes shall be designated to accumulate funds for these purposes. Designated reserves wll be reviewed regulady to ensure that they remain appropriate and in line with strategic objectives. Reserves are held in bank accounts, and not in speculative or high-risk investments. This policy is reviewed annually, or sooner if there is a material change in the charitys operations or finanaal environment. Risk Management Key risks include= horse Weare, safeguarding, financial sustainabilty, compliance linduding Mqth the General Data Protection "GDPR" rules) and staff capacity. Miligalion includes poliaes, training, insurance and investment in safe faalities. Plans for the Future Planned developments.. Growth in therapy and youth programmes. Continued facility upgrades including XC expangon. Digital improvements to booking and admin systems. Responsible horse stock management. Statement of Trustees, Responsibilities Trustees must prepare truthful financial statements, maintain proper accounting records, safeguard assets, and comply with legal dub"es. Approved by order of the members of the board of Trustees and signed on their behalf by.. S Robinson (Chair of Trustees) Date: 19 Dernber 2025 Page 4
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 7128 ROYAL ARMOURED CORPS SADDLE CLUB INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 Independent Exarninerfs Report to the Trustees of Royal Armoured Corps Saddle Club I'the Charity'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 28 February 2025. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charits"es Act 2011 {'the 2011 Act'l. I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515)Ib) of the 2011 Act. Independent Examinevs Statsmant Since the Charivs gross income exceeded £250,000 your examiner must be a member of a kndy listed in section 145 of the 2011 Acl. I confirm that l am qualTfied to undertake the examination because l am a member of The institute of Chartered Accountants in England and Wales, which is one of the listed bodies. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally AGGepted AGGounting Practi effeGtive for reporting period5 beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examinatson giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the accounts do not accord with those records: or the accounts do not comply wth the applicable requirements conceming 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 Irue and fair. wew which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wqth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Dated: 1911212025 Fiona Hawknns Bsc {Honsl Msc FCA James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Page 5
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 8128 ROYAL ARMOURED CORPS SADDLE CLUB STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Investments 15.338 556,204 7,866 35.000 50,338 556,204 7,866 30.243 550,819 6,323 Total income 579.408 35,000 614,408 587,385 Expenditure on: Charitable activities 565.302 3.527 568,829 547.679 Total expenditure 565,302 3,527 568,829 547,679 Net movement in funds 14,106 31.473 45,579 39,706 Reconciliation of funds: Total funds brought fotward Net movement in fund5 244.951 14,106 244,951 45,579 205.245 39,706 31,473 Total funds carried forward 259.057 31,473 290,530 244,951 The Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 9 to 24 fomi part of these financial statements. Page 6
VkiuaBunatLnTrarffjxlvM Ref. 7KGZG6WDS 19Dec2025 08..11.'42GMT (UTC 40) D 111 P 9126 ROYAL ARMOURED CORPS SADDLE CLUB BALANCE SHEET AS AT 28 FEBRUARY 2025 28 February 2025 29 February 2024 Note Fixed assets Tangible as5et5 10 135,777 120,830 135.777 120,830 Current assets Debtors 19,430 154,365 15,079 138.842 Cash al bank and in hand 173,795 153.921 Current liabilities Creditor5." amounts falling due wthin one year 12 (19.0421 127.7101 Nei current assèts 154.753 126,211 Total assets18ss current liabilities 290.530 247,041 Creditors.. amounts falling due after more than one year 13 12,ogoi Total net assets 290,530 244,951 Charity funds Restricted funds Unrestricted funds 14 14 31.473 259.057 244,951 Total funds 290.530 244,951 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S Robinson {Chair of Trustees) Date: 19 December 2025 The notes on pages 9 to 24 fonn part of these financial statements. Page 7
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P IiV28 ROYAL ARMOURED CORPS SADDLE CLUB STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2025 2025 2024 Cash flows from operaiing aciiviiies Nel cash used in operating activities 50,920 58,036 Cash flows from inv•sting activiti•s Interest receivable and similar income Purchase of tangible fixed assets 7,866 140,273) 6,323 19,140) Net cash used in investing activities 132,407) 12,8171 Cash flows from financing activities Repayments Offinan leases (2.990) 12,837) Net cash used in financing activities {2.990} (2,8371 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 15.523 52,382 138.842 86,460 Cash and cash equivalents at the end of the year 154.365 138,842 The notes on pages 9 to 24 form part of these financial statements Page 8
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 11128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention with items recognised at C05t or transaction value unless otherwise slated in the notes to these accounts. The financial statements have been prepared in accordan with the Charities SORP IFRS 1021 Accounts"ng and Reporting by Chanlies- Statement of Recommended Practice applicable lo chanlies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019}. the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Charities Act 2011. Royal Amioured Corps Saddle Club meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Going concern The financial statements have been prepared on a going concern basis. The trustees consider that there are no material uncertainties the Charitys ability to continue as a going concem. The trustees make this assessment in respe¢X of a PWILXI of one year from the date of approval of the financial stslements. 1.3 Income l income is recognised once the Charity has entitlement to the income, it is probable that the income wll be received and the amount of income receivable can be measured reliably. Donations and legacies are reeognised on a receivable basis when receipt is prctjable and the amount can be reliably measured. Deferred income represents amounts received for fijture periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when.. - The donor specrfies that the grant or donation musl only be used in fijture accounting periods., - The donor has imposed conditions which must be met before the charity has unconditional entidement. Charltable actlvlues The charity operates one charitable activity - the provision of equestrian facilities and training and all income from charitsble activities derive from this activity. 1.4 Expenditure Liabilities are recognised as soon a5 there is a legal or constructive obligation committing the charity to the expenditure. Al expenditure is accounted for on an accrua15 basis and has been classified under headings that aggregate all costs related to the category. AJI expenditure is accounted for on an accruals basis. AJI expenses, induding support costs and governan costs are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Expenditure included vat which cannot be recovered, and is reported as part of the expenditure to which it relates. Expenditure is classified undef the followng activity headings. Page 9
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 12128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies {continuedl 1.4 Expenditure Icontinuedl AJI expenditure is indusive of Irrecoverab VAT. Charitable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. The charity operates one charitable activity- the provision of equestiian facilrties and training and all exFendilure on charitable activities relates from this activity. 1.5 Government grants Govemment grants are recognised based on the accrual model and are measured al the fair value of the asset received or receivable. Grants are classified as relatsng either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred. it is recognised as deferred income. 1.6 Tangible fixed assets and depreciation Tanglble llxed assets costlng £500 or rnore are capltallsed and recognlsed when fvture economlc benefits are probable and thè cost or valuè of thé asset can bè mèasuréd rèliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incued to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Deprecialion is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight4ine melhod. Depreciation is provided on the following bases= Land & Buildings Plant and machinery Computer equipment Horse - 25 year5 -2-10year5 - 4 years - 4 years 1.7 Debtors Debtors are recognised al the setuemenl amount due after any discount offered. Prepayment are valued at the amount prepaid taking acCnt of any discounts due. 1.8 Cash at bank and in hand Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignrficant risk of change in value. Page 10
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 126 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting policies {continuedl 1.9 Creditors Creditors and provisions are recognised where the charrty has a present obligation resuking from past event that will probabty resutt in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or esb"mated reliably. Creditors and promsions are nomially recognised at their settlement amount after allowng for any discounts due. 1.10 Finance leases and hire purchase Assets held under finance leases, which are leases wthere substantially all the rFsks and rewards of ownership of the asset have passed lo Ihe Charity, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease tenm and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged lo the Statement of Financial Activities over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Asset5 held under hire purchase agreements are capilalised as tangible fixed assets and are depreciated over the Shorter of Ihe lease temi and their useful lives. The capital element of future finance payTnenls is included within creditors. Finance charges are allocated to accounting periods over Ihe length of the contract and represent a constant proportion of the balan of capital repayments outstanding. Assets held under hire purchase agreements are caprtalised as tangible fixed assets and are depreclated over Ihelr usefvl Ilves. The capllal element ol future nance payments Is Included vrfthln crèditors. Finance chargès are allocatèd lo accounting riOdS over the lèngth of the contract_ 1.11 Pensions The charity operates a defined contribjlion pension scheme. Contributions are charged in the statement of financial aclThiities as they become payable in accordance with the rules of the scheme. 1.12 Fund accounting Unrestricted funds are ftsnds that can be used in accordance with the charitable obj.ects at the discretion of the Trustees. Designated funds are unreslricled funds which have been allocaledlearmarked for a particular purpK)se by the Trustees and afe to be declared in the Trustees mmenls stating what they are intended to be used for and when. Restricted funds are funds that can only be used for particular restricted purposes within the oty-ects of the charity. Restrictions arise when specified by the donor or when funds are raised for parb"cular restricted PLtrposes. Further detalls 01 each fund are dlsclosed In note 14. Page 11
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 14128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Income frorn donations and legacies Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Donations 500 500 Grants from other Charities 11.500 3,338 35.000 46.500 3.338 Government grants 15,338 35,000 50.338 Unreslricted funds 2024 Total funds 2024 Donations Grant5 from other Charities 1.000 20.752 8.4g1 1,000 20,752 8.491 Govornmont grants 30.243 30,243 Income from charitable activities Unrestricted funds 2025 Total funds 2025 Sponsorship {Generall Camp Brits'sh Eventing Pony club fees Instruction and tuition Events 10.750 27,243 17,498 92.519 52.753 53.778 7,800 290,889 2,974 10.750 27.243 17,498 92.519 52.753 53.778 7.800 290.889 2,974 Hire of equipmenl. facilthes and horses Livery setvices for the period other inccffte 556,204 556,204 Page 12
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 1&28 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Income frorn charitable activities (continued) Unrestricted funds 2024 Total funds 2024 Swnsorship {Generall Camp British Eventing Pony club fees Instruction and tuition Events 3.250 28.641 50,692 74,770 52,504 49,532 4.363 286.261 806 3.250 28.641 50.692 74.770 52,504 49,532 4,363 286.261 Hire of equipment. facilibes and horse5 Livery services for the period Other incc*ne 550,819 550,819 Investment income Unrestricted funds 2025 Total funds 2025 Interest receivable on bank deposits 7.866 7.866 Unrestricted funds 2024 Total funds 2024 Interest reGeivable on bank deposits 6.323 6.323 Page 13
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P If428 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Direct Costs 565,302 3.527 568,829 Unrestricted funds 2024 Total 2024 Direct costs 547,679 547,679 Analysis of 0xponditur• by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Direct and support costs 502.467 66,362 568.829 Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Direct and support costs 498.807 48.872 547.679 Page 14
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 17128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expenditure by activities (continued) Analysis of direct costs Total funds 2025 Activities 2025 SLiff costs Horse feed 280.303 55.838 20,923 13.729 16,721 19,861 4.205 1.751 30.888 10.453 12,178 5,940 5.006 4.108 19,533 290 280,303 55.838 20.923 13.729 16,721 19,861 4,205 1,751 30.888 10.453 12,178 5.940 5.005 4.108 19,533 290 British Eventing Veterinary and medical fees Farrier fees Horse bedding and mucking OUÈ Staff training Grazing lince Freelance instruction costs Field maintenance Propety repairs and maintenance Equipment repairs and Tenewals subscnpts.ons Fuel for vehicles and equipment Event costs Refreshments Adult Christmas Paty Hire purchase interest li 560 560 180 180 502.467 502.467 Page 15
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P IPJ28 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expenditure by activities (continued) Analysis of direct costs (continued) Total funds 2024 Activities 2024 Staff costs 274.300 52.925 31,113 14,350 13,930 22,S74 4.343 1.751 19,634 3,885 12.918 8,016 5,704 4,502 3,187 25,082 149 274.300 52,925 31.113 14.350 13,930 22,574 4,343 1,751 19.634 3.885 12,918 8,016 5,704 4.502 3,187 25,082 149 Horse feed British Eventing Veterinary and medical fees Farrier fees Horse bedding and mucking out Staff training Grazing licence Freelance instruction costs Repairs and maintenance Field maintenance Propety repairs and maintenan Equipment repairs and renewals Subscriptions Fuel for vehicles and equipment Event costs Refreshment5 Adult Christmas Paty Hire purchase interest li 112 112 332 332 Total 2024 498,807 498,807 Page 16
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 19128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Analysis of expenditure by activities (continued) Analysis of support costs Total funds 2025 Activities 2025 Insuran Telephone Computer costs Printing, postage and stationery Sundry expenses Motor expenses Accountancy fees Independent examiner's fee Legal and professional fees Bank charges Depreation MarkelirwJ 10.824 2.521 458 2.594 7,864 6,606 4.872 1.000 900 939 10.824 2.521 2.594 7,864 6,606 4.872 1,000 900 939 25,326 2.458 25,326 66,362 66.362 Total funds 2024 Activities 2024 Bad debts wrttten off 1.099 1.180 5.431 946 160 1,099 1.180 5.431 946 160 Light. heat and power Insurance Telephone Computer costs Printing. postage and stationery Sundry expense5 Motor expenses Accountancy fees Independent examiner's fee Legal and professional fees Bad debts written off Bank charges Depreciation 1.802 5.190 5.287 3.330 790 390 504 871 1.802 5,190 5.287 3.330 790 390 504 871 21.892 21.892 48,872 48.872 Page 17
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 2 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Independent exarninerfs remuneration 2025 2024 Fees payable to the Charl5 independent examiner for the independent examination of the Charitys annual accounts 1.000 790 Staff costs 2025 2024 Wages and salaries Social security costs Conlribution lo defined contribub'on pension schemes 268.489 8.554 3.260 259,858 10.030 4.412 280,303 274,300 The average number of persons employed by Ihe Cha¥ity during the year wa5 a5 follows". 2025 2024 No. Employees 19 19 No employee received remuneration amounting to more than £60,000 in either year. Key management personnel The charty considers its key management personnel to be the board of Trustees., no Trustees are remunerated for this role. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits {2024- £NILI. During the year ended 28 February 2025, no Trustee expenses have been inCued12o24 - £NIL). Page 18
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 21128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 10. Tangible fixed assets Land & Buildings Plant and machinery Computer equipment Horse Total Cost or valuation At 1 March 2024 43.305 171.890 35.273 1.386 10.500 5.000 227.081 40,273 Additions At 28 Febnjary 2025 43,305 207.163 1.386 15.500 267,354 Depreciaiion At 1 March 2024 Charge for the year 15,534 1.732 86.082 19.373 3.750 3.875 106.251 25,326 At 28 February 2025 17,266 105.455 1,231 7.625 131,577 Net book value At 28 Febwary 2025 26,039 101.708 155 7.875 135.777 At 29 February 2024 27.771 85.808 501 6.750 120.830 Assets held under finance leases and hire purchase contracts The nel carrying amount of tangible assets indudes the followng amounts in respect of assets held under finar¢ce leases and hire purchase contracts for- Plant & Machinery £10.49712024- £12.5961 11. Debtors 28 February 29 February 2025 2024 Due within one year Trade debtors 11,500 7.930 7,614 7,465 Prepayments and accrued income 19,430 15,079 Page 19
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 22128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 12. Creditors: Amounts falling due within one year 28 February 29 February 2025 2024 Trade creditors Other taxation arKI social securty Obligations under finance lease and hire purchase contracts Other creditc 8,955 2,207 2.090 376 8,242 1,888 2.990 AccNals and deferred income 5.414 14.590 19.042 27,710 Other borrowings Hire purchase wth a carrwng amount of £2.DgJ 12024.. £5.0801 wrth a nominal interest rate of 5.02% {2024.. 5.02%). The final instalment is due on 1 October 2025. The hire purchase asset is itsdf security for the hire purchase agreement. 28 Febfuary 29 Febnjary 2025 2024 Deferred Income Deferred income at 1 March 2024 200 2.550 Resources deferred during the year Amounts released from Previous periods 1.214 (2,350) 1.414 200 Deposits received before the year end for events after the end of February have been deferred. 13. Creditors: Amounts falling due after more than one year 28 February 29 February 2025 2024 Net obtigalions under finance lease and hire purchase contracts 2,090 Page 20
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 226 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 14. Statement of funds Statement of funds - current year Balance at 28 February 2025 8alance at I March 2024 Income Expenditure Unr85tricted funds General Funds 244,951 579,408 (565,302) 259,057 Restricted funds Fencing and lighting 35,000 (3.527) 31.473 Total of fund5 244,951 614,408 (568,829} 290,530 Restricted funds Fencing and lighting This wa5 an Army Welfare grant to be used for lighting and fencing. which has been used for flcth lights for the school. stsiement of funds - prior year Balance at 1 March 2023 Balance at 29 February 2024 Income Expenditure Unrestricted funds General Funds 205,245 587,385 1547,6791 244.951 15. Summary of funds Summary of funds - current year Balance at 28 February 2025 Balance at 1 March 2024 Incomo Exponditura General ftjnds 244,951 579,408 35.000 (565.302} (3.527) 259,057 31.473 Restricted funds 244,951 614,408 1568,829) 290,530 Page 21
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 24128 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 15. Summary of funds {continuedl Summary of funds - prior year Balance at 1 March 2023 Balance at 29 February 2024 Income Expenditure General funds 205,245 587,385 (547,6791 244,951 16. Analysis of net assets between ndS Analysis of net assets between funds- current year Unrestricted Restricted Total funds funds funds 28 February 28 February 28 February 2025 2025 2025 Tangible fixed assets Current assets 104,304 172,581 117.8281 31.473 135.777 172.581 117,8281 Creditors due wtthin one year Total 259,057 31,473 290,530 Analysis of net a55ets between fund5 - prior year Unrestricted Total funds funds 29 February 29 February 2024 2024 Tangible fixed assets CurTent assets Creditors due Mqthin one year CreditOT5 due in more than one year 120,830 153,921 127,7101 {2,0901 120.830 153,921 127,710) 12,090) Total 244,951 244.951 Page 22
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 2&28 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 17. Reconciliation of net movernent in funds to net cash flow frorn operating activities 28 February 29 February 2025 2024 Not incomo for tho yoar las por Statomont of FinanLYal Activitios) 45.579 39.706 Adjustments for: Depreciation charges Dividends, interests and rent5 from investments Decrease in debtors Increaselldecreasel in creditors 25,326 (7,866} 4.351 116.470} 21,892 16,323) 1.566 1.195 Net cash provided by operating activities 50,920 58,036 18. Analysis of cash and cash equivalents 28 February 29 February 2025 2024 Cash in hand 154.365 138.842 Total cash and cash equivalents 154.365 138,842 19. Analysis of changes in not debt At28 February 2025 At 1 March 2024 Cash flow5 Cash at bank and in hand 138,842 15.080) 15.523 2.990 154.365 (2,0901 Finance leases 133.762 18,513 152.275 Page 23
VrbJJkgunJturvTrarffjxbcn Ref. 7KQZ&&JD5 19 Dec 2025 08..11..42 GKf (UTC +0) D 111 P 2f428 ROYAL ARMOURED CORPS SADDLE CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Pension comrnitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents conth"butions payable by the charity to the fund and amounted to £3,26012024 - £4,4121- £376 {2024 - £nill were payable lo the fund al the balan sheet date and are included in othei creditors. Page 24