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Charity number: 1163302
ROYAL ARMOURED CORPS SADDLE CLUB
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

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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

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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
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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 re￿gned 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 partI￿pation 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
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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 Parti￿pants 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 fO￿ard 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.
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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 We￿are, 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 De￿rnber 2025
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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
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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.
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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.
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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
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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.
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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 incu￿ed 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 acC￿nt 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.
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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.
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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
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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
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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
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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 li￿nce
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
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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
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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
Depre￿ation
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
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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 Charl￿5 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 inCu￿ed12o24 - £NIL).
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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
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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
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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
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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
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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
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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