Registered Charity number: 1165336
HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
HONNYWILL FAMILY CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees’ Report | 1 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statement | 9 |
HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report and the unaudited financial statements of Honnywill Family Charitable Trust (“the Trust”) for the year ended 31 March 2022.
The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the governing document, and the provisions of "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (Charities SORP (FRS 102)).
Reference and administrative information
Registered charity number 1165336 Principal office address Underriver Farm Underriver House Road Underriver Sevenoaks TN15 0SJ Independent examiner A S Healey FCA CTA DChA Lindeyer Francis Ferguson Limited Chartered Accountants North House 198 High Street Tonbridge Kent TN9 1BE Principal bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors Buss Murton Law LLP Wellington Gate Church Road Tunbridge Wells Kent TN1 1HT Settlor Mr C G Honnywill
Structure, governance and management
a. Constitution
The Honnywill Family Charitable Trust is governed by its Trust Deed dated 1 March 2015 and amended 6 January 2016. It was granted charitable status on 27 January 2016. These financial statements cover the year ended 31 March 2022.
b. Appointment and Training of Trustees
The power of appointing new trustees is vested in the settlor during his lifetime, and thereafter in the trustees by way of a resolution of a meeting of the trustees. The trustees were selected to ensure the
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HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022
Trust has access to a diverse range of skills, experience, and time from people who are relevant to its objectives and activities. The trustees include a lawyer, teacher, disabled riding instructor and retired trustee of a national disabled riding charity, and an accountant. Together, they provide a good level of diversity to oversee the workings of the charity.
The trustees met on a number of occasions during the year. They continued to take professional advice from accounting/tax advisers who work with charities.
c. Organisational Structure and Decision Making
The trustees have overall responsibility for approval of strategy, policies, plans, risk management and finance. The charity has no employees.
d. Trustees
The trustees serving during the year were:
Mr C G Honnywill Mrs S Honnywill Mrs Ruth Weaver (Chairman) Mrs Clare Wilson
The trustees held office throughout the year.
Objectives and activities
The charity’s purposes, as set out in its governing document, are:
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The provision of pony riding facilities for young people who are disabled, and the terminally ill, in the interests of social welfare with the object of improving their conditions of life and the promotion of health.
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To promote the conservation and preservation and improvement of the natural environment and the biodiversity and natural habitat of land at Kiln House Farm, Bough Beech, Edenbridge, Kent for the public benefit.
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The preservation of Kiln House Farm and its features of architectural interest for the public benefit.
The charity’s provision of pony riding facilities is designed to meet the needs of young people who are disabled, and the terminally ill, that cannot be met by other charities or public bodies that offer riding school facilities. The charity is able to offer extended periods and individual attention at its pony riding facilities to achieve this.
The charity established the Kiln House Farm site as a site that meets the needs of its target beneficiaries, with purpose-built facilities and trained ponies. It is situated in a rural location within easy reach of much of the South East of the UK. During the year, the charity carried out major capital expenditure to connect the site to mains electricity in conjunction with UK Power Networks and groundwork and electrical engineers. Particular thanks are due to those who helped us execute this complex and significant project that materially enhances the stability of the site and its potential for future years.
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HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022
The riding activities hold a 3-star veterinary rating, the highest for a yard of this type (higher ratings are reserved for competition yards).
The effects of the Coronavirus pandemic impacted operations, as restrictions were placed on people movements. The trustees were also concerned to ensure social distancing was maintained. Given the fact that many of our visitors come as a single family unit, we were able to accommodate all those who applied to come in the year within the government restrictions and with careful consideration of the vulnerability of all involved.
We continued to maintain and train our three ponies throughout the year.
Our conservation monitoring work with local wildlife wardens continued. We monitor flora and fauna (with a particular focus on owls, bats, dormice and rare Wealden woodland and meadow flora species).
The trustees are grateful for the contribution of volunteers to the work of the charity, notably the volunteer helpers who assist with monitoring young people as they ride, others who provide additional support services and those involved with marketing, fundraising and maintenance of the website.
Achievements and performance
In setting the charity’s objectives and planning its activities, the trustees have given consideration to the Charity Commission’s guidance on public benefit.
The trustees consider that the charity’s main achievements in the period (as measured against its objectives) are:
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Enhanced the Kiln House Farm site with the laying on of mains electricity
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Had three ponies in use during the year
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Worked closely with local wildlife wardens
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Laid out plans to use “no-fence” grazing cattle for selected areas of the site
Financial review
For the year ended 31 March 2022, the charity’s incoming resources amounted to £70,183 (2021: £139,065).
Resources expended were £67,952 (2021: £56,877), giving a surplus for the year of £2,231 (2021: £82,188).
At the balance sheet date, the charity’s free unrestricted reserves (that is, its unrestricted reserves less those represented by fixed assets) amounted to £93,553 (2021: £113,715).
During the year, the charity’s principal funding sources were donations from individuals, and gift aid reclaimed from Her Majesty’s Revenue & Customs as well as rental income from the investment property.
Risks
The trustees have assessed the principal risks and uncertainties facing the charity and developed its strategy and plans to manage those risks. They are
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HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022
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Funding sustainability
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Potential liabilities arising from working with young vulnerable beneficiaries
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Potential liabilities arising from working with ponies
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Having adequate volunteers who are available as required and able/trained to perform their role
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Carrying out site works, notably construction and ground works using contractors and volunteers
The trustees have secured funding to meet the cashflow needs of the charity for at least the next 18 months. They plan to review the charity’s marketing and outreach activities and look to increase conservation and environmental activities, working closely with local farmers and those involved in the management of Bough Beech reservoir which border the site.
The charity’s work with young vulnerable people and ponies is carried out under the supervision of Sophie Honnywill, a trained Riding for the Disabled (“RDA”) instructor and past RDA trustee. The charity has assessed as adequate the operating procedures of the RDA for its use. It continues to keep close contact with the RDA. During the Coronavirus pandemic, government restrictions and guidance have been adopted. In addition, the charity carries public liability insurance.
Policy on reserves
The trustees consider that, now that the Kiln House Farm development is complete, the charity should hold reserves of some £10,000 per active pony housed at Kiln House Farm. This is based on an estimate of the average current full year cost of stabling, care and training of a pony As at 31 March 2022, the reserves held were £93,377; this will fall over the next two years to some £30,000 following the expenditure planned on pond maintenance and enhancing our woodland “den”.
Plans for future periods
Selected tree felling was carried out during the year to remove diseased ash trees. We continue to monitor the significant number of ash trees that are suffering from the “Ash Die Back” disease which will need to be felled.
The site has three ponds that need attention to enhance the habitat and to restore ancient ponds that have silted up. The trustees have set aside funds to perform this work which is likely to occur in summer 2023.
The trustees will keep the number of ponies under review. It is anticipated that the charity will continue to operate with three ponies.
The trustees were grateful to receive a number of donations in the year such that there was no need to launch a wide public fundraising programme in the year.
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HONNYWILL FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its surplus or deficit for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Trustees on 4 November 2022 and signed on its behalf by:
Charles Honnywill Trustee
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HONNYWILL FAMILY CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
I report to the trustees on the financial statements of Honnywill Family Charitable Trust (the ‘Trust’) for the year ended 31 March 2022.
Respective responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A S Healey FCA CTA DChA
Lindeyer Francis Ferguson Limited Chartered Accountants North House, 198 High Street Tonbridge, Kent TN9 1BE
Date: 7 November 2022
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HONNYWILL FAMILY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations 3 Charitable activities: Rainbow Pony Rides Investments Other income Total income Expenditure on: Raising funds: Rental property costs 4 Charitable activities 5 Total expenditure Net income and net movement in funds Reconciliation of funds: 11 Total funds brought forward Total funds carried forward |
2022 Unrestricted funds £ 52,926 691 16,092 474 70,183 1,177 66,775 67,952 2,231 1,126,402 1,128,633 |
2022 Restricted funds £ - - - - - - - - - - - |
2022 Total funds £ 52,926 691 16,092 474 70,183 1,177 66,775 67,952 2,231 1,126,402 1,128,633 |
2021 Total funds £ 123,198 108 15,426 333 |
|---|---|---|---|---|
| 139,065 | ||||
| 1,186 55,691 |
||||
| 56,877 | ||||
| 82,188 | ||||
| 1,044,214 | ||||
| 1,126,402 |
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HONNYWILL FAMILY CHARITABLE TRUST
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 8 Investment property 9 Current assets Debtors 10 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year Accruals Net current assets Total net assets The funds of the charity Unrestricted funds 11 |
2022 £ 2,707 94,166 96,873 ( 3,320) |
2022 £ 483,820 551,260 1,035,080 93,553 1,128,633 1,128,633 1,128,633 |
2021 £ 16,463 99,701 116,164 ( 2,449) |
2021 £ 461,427 551,260 |
|---|---|---|---|---|
| 1,012,687 113,715 |
||||
| 1,126,402 | ||||
| 1,126,402 | ||||
| 1,126,402 |
The financial statements were approved by the Board of Trustees on 4 November 2022 and signed on their behalf by:
Charles Honnywill Trustee
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 Status
Honnywill Family Charitable Trust is a charitable organisation registered in England and Wales governed by its Trust Deed dated 15 March 2015 and amended 6 January 2016. The address of the principal office is Underriver Farm, Underriver House Road, Underriver, Sevenoaks, Kent, TN15 0SJ.
2 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
2.1 Basis of preparation
These financial statements have been prepared in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (Effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Honnywill Family Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are presented in pounds sterling and rounded to the nearest pound.
2.2 Income
Income from donations is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. This is usually on receipt.
Donated goods and services are recognised in the period in which they are utilised and are valued by the trustees at their fair value.
Income from riding sessions is recognised in the period in which the session takes place.
Income from investments relates to interest and rental income and is recognised in the period to which it relates.
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2.3 Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. All expenditure is accounted for on an accruals basis.
Expenditure has been classified under headings that aggregate all costs related to the category.
Support costs have been allocated to raising funds and charitable activities pro rata based on the direct costs incurred by those activities.
The charity is registered for VAT and is partially exempt. The VAT disallowed in relation to exempt supplies is shown separately in support costs.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:
Freehold land Not depreciated Equestrian buildings and structures Over 15 to 25 years straight line Ponies Over the expected working life of each pony Fixtures and equipment Over 10 years straight line Assets under construction Not depreciated
The cost of freehold land comprises the original purchase price of the land for use in the charitable activities, plus the costs of preparing the land for its intended use.
2.5 Investment property
The investment property is stated in the balance sheet at fair value. Investment gains or losses are recognised in the Statement of Financial Activities.
2.6 Financial Instruments
The charity only has financial instruments of a kind that qualify as basic financial instruments. Short term debtors, prepayments and creditors are measured at their settlement value.
2.7 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3 Donations
| Donations | ||
|---|---|---|
| Donations and gift aid Donated services |
Total 2022 £ 47,968 4,958 52,926 |
Total 2021 £ 121,235 1,963 |
| 123,198 |
Donated services relate to the provision of food and shelter for the ponies during the year.
In the prior year the charity received £11,900 in restricted donations.
4 Raising funds
| Rental property costs Direct rental costs Allocation of support costs (Note 6) |
Total 2022 £ 747 430 1,177 |
Total 2021 £ 821 365 |
|---|---|---|
| 1,186 |
5 Expenditure on charitable activities
| Direct activity costs Depreciation Allocation of support costs (Note 6) |
Rainbow Rides 2022 £ 19,048 23,336 42,384 24,391 66,775 |
Conser- vation 2022 £ - - - - - |
Total 2022 £ 19,048 23,336 42,384 24,391 66,775 |
Total 2021 £ 20,427 18,128 |
|---|---|---|---|---|
| 38,555 17,136 |
||||
| 55,691 |
In the prior year the charity spent £11,900 from restricted funds in relation to its charitable activities.
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 Support costs
| Support costs | ||
|---|---|---|
| Site repairs and maintenance Travelling Bank charges Irrecoverable VAT Fixtures and equipment depreciation Loss on disposal Sundry Utilities and rates Telephone Governance costs: Independent examiner's fees VAT advisory fees |
2022 £ 1,660 - 115 ( 69) 6,683 7,474 144 4,580 230 1,970 2,034 24,821 |
2021 £ 2,467 541 69 ( 470) 7,070 - 125 4,342 - 1,900 1,457 |
| 17,501 |
7 Employees
The charity did not have any employees during the period.
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8 Tangible fixed assets
| Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for the year Eliminated on disposal At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 9 Investment property At 1 April 2021 At 31 March 2022 |
Freehold land £ 155,077 - - 155,077 - - - - 155,077 155,077 |
Equestrian buildings £ 308,800 61,552 - 370,352 53,208 23,196 - 76,404 293,948 255,592 |
Ponies £ 1,400 - - 1,400 572 140 - 712 688 828 |
Fixtures and equipment 70,684 - ( 15,500) 55,184 20,753 6,683 ( 6,359) 21,077 34,107 49,931 |
Total £ 535,961 61,552 ( 15,500) |
|---|---|---|---|---|---|
| 582,013 | |||||
| 74,533 30,019 ( 6,359) |
|||||
| 98,193 | |||||
| 483,820 | |||||
| 461,428 | |||||
| £ 551,260 |
|||||
| 551,260 |
The property was valued by the trustees who consider that there is no material change to the fair value of the property at the year end.
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
10 Debtors
| Debtors | ||
|---|---|---|
| Gift aid recoverable VAT recoverable Prepayments |
2022 £ 1,466 450 791 2,707 |
2021 £ 9,080 6,273 1,110 |
| 16,463 |
11 Movement in funds
| Current year Unrestricted funds Total funds |
At 1 April 2021 1,126,402 1,126,402 |
Income £ 70,183 70,183 |
At 31 March 2022 £ £ £ ( 67,952) - 1,128,633 ( 67,952) - 1,128,633 Transfers Expenditure |
At 31 March 2022 £ £ £ ( 67,952) - 1,128,633 ( 67,952) - 1,128,633 Transfers Expenditure |
|---|---|---|---|---|
| 1,128,633 |
Pony costs
During the year a donation was received towards the annual maintenance cost of the ponies.
| Prior year Unrestricted funds Restricted funds: Pony costs Total restricted funds Total funds |
At 1 April 2020 1,044,214 1,044,214 |
Income £ 127,165 11,900 11,900 139,065 |
At 31 March 2021 £ £ £ ( 44,977) - 1,126,402 ( 11,900) - - ( 11,900) - - ( 56,877) - 1,126,402 Transfers Expenditure |
At 31 March 2021 £ £ £ ( 44,977) - 1,126,402 ( 11,900) - - ( 11,900) - - ( 56,877) - 1,126,402 Transfers Expenditure |
|---|---|---|---|---|
| - | ||||
| 1,126,402 |
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HONNYWILL FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
12 Analysis of net assets between funds
| Current year Fixed assets Net current assets Total net assets Prior year Fixed assets Net current assets Total net assets |
£ 1,035,080 93,553 1,128,633 £ 1,012,687 113,715 1,126,402 Unrestricted funds Unrestricted funds |
Restricted funds £ - - - Restricted funds £ - - - |
Total funds £ 1,035,080 93,553 |
|---|---|---|---|
| 1,128,633 | |||
| Total funds £ 1,012,687 113,715 |
|||
| 1,126,402 |
13 Related party transactions
The key management personnel of the charity are considered to be the trustees.
Trustees did not receive any remuneration, benefits or reimbursed expenses during the period.
Donations from trustees and related parties to the charity, including gifts in kind, were £39,070 (2021: £81,963) in aggregate. There are no other related party transactions to disclose.
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