2022-01-31-accounts

REGISTERED CHARITY NUMBER: 1165357

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 January 2022

for

New Beginnings Horses CIO

New Beginnings Horses CIO

Contents of the Financial Statements for the Year Ended 31 January 2022

	Page
Report of the Trustees	1 to 6
Independent Examiner's Report	7
Statement of Financial Activities	8
Balance Sheet	9
Notes to the Financial Statements	10 to 23
Detailed Statement of Financial Activities	24 to 26

New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

The trustees present their report with the financial statements of the charity for the year ended 31 January 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objects as stated in its constitution are:

"For the benefit of the public to relieve the suffering of racehorses in need of care and attention by providing and maintaining a rescue home or other facilities for the reception, care and treatment of such animals.

To promote humane behaviour towards racehorses by providing care, protection, treatment and security for racehorses which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and suffering among animals."

New Beginnings was established in 2010 as a CIC (Community Interest Company) and became a registered Charity in 2016. Since its inception New Beginnings has strived to build its reputation to now becoming recognised as the Centre of Excellence for rehabilitation, retraining and re-homing of former racehorses in the North East of England. The Charity has got this reputation by always putting the horse's welfare first and foremost. The Charity is also one of only ten centres accredited to the RoR (Retraining of Racehorses the official Charity of the British Horseracing Association)

The references to racehorses includes former racehorses.

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New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

OBJECTIVES AND ACTIVITIES

Significant activities

Horses are taken in by the charity directly from trainers, owners, from post racing private homes and the RoR through their Vulnerable Horses Scheme. At this stage the horse comes under the care of the charity and belongs to the charity. An inward donation is requested in all cases to contribute to the future cost of stabling, rehabilitating and retraining the horses before re-homing.

The horse is assessed and may be turned away for a period of time to adjust from its former situation. When ready, the horse will be brought into work at a pace suitable for each individual horse.

When the horse has been retrained, can carry itself in an outline, is hacking out alone or in company and is considered suitable to be offered out on loan, their details will be added to the website so potential loaners can view their details and see if they may be compatible.

Where potential loaners have contacted the charity with or without seeing the details of the current horses available on the website, they will be sent a Horse Enquiry Form asking questions in relation to their experience along with what they are looking for. These will then be discussed and if any horses are considered suitable for them, a visit by the potential loaner to the charity's base will be arranged so horses and loaner can meet and be assessed together.

The process of re-homing the horses is taken carefully and the charity will not re-home a horse until they are satisfied it is a suitable match for the horse, and the loaner is fully aware of the ongoing training requirements to achieve a successful move and can continue with the horse's development into a ridden horse. The process can take several weeks to match horse and loaner.

Once loaned out, the horses cannot be sold by the loaner, they will always belong to the charity. If the circumstances change and the horse needs to be returned to the charity, the charity will take the horse back to ensure its security and where suitable, a new home will be sought for the horse, whilst continuing its schooling.

The charity can attend up to 20 race meetings per year. Racecourses usually attended include York, Pontefract, Ripon, Wetherby, and Doncaster. They also work with York Racecourse for their emergency procedures day. The charity also take their exhibition unit to the RoR Championship Show at Aintree, Middleham Stables Open Day and Malton Festival of Racing along with numerous local shows.

Most race meetings will consist of taking two former racehorses, this allows the public to meet and touch a horse, many for the first time. During the past eleven years the charity have seen many of the then children, progress and learn to ride, just because they saw and touched one of their former racehorses. This also helps to promote the charity's objectives and aims to the wider public, many of whom have never considered what happens to racehorses once they are no longer active in the sport.

The charity also takes part in ridden parades at Ripon, Pontefract, Wetherby and Doncaster, where they take several former racehorses. These can be either horses that they have retrained and are ready to be re-homed, or horses that are out on loan ridden by the loaner.

The charity feel that this is important as it shows the true versatility of these wonderful horses.

Public benefit

The trustees give due regard to guidance published by the Charity Commission on public benefit. The trustees consider the care, protection, treatment and security offered to racehorses and former racehorses to be a benefit to the public.

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New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

OBJECTIVES AND ACTIVITIES

Volunteers

The charity get support from businesses who donate a day, where they will donate their time to do the routine tasks like painting or specific projects. Due to the temperament and vulnerability of some of the horses that come to New Beginnings they do not have volunteers on the yard. They do however appreciate their help when attending race meetings and other events, to promote the charity and raise funds, supporting Kevin Atkinson and Pam Atkinson, the trustees who undertake these tasks on a day to day basis.

The assistance of the volunteers is invaluable to the charity.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Retraining of former racehorses

During the period £36,432 (£31,921: 2021) was received from the RoR (Retraining of Racehorses Charity) in respect of vulnerable horses taken into the care of New Beginnings Horses.

Fundraising activities

The charity was unable to hold its main fundraising event (Charity Ball and Auction) in February 2021 due to COVID 19 restrictions. The event was held again in February 2022.

The charity rely on their "Friends of New Beginnings" these are the individuals and businesses who donate a monthly amount to help support the charity's activities, without whom the past financial year would have been very different.

The charity received donations of feed from British Horse Feeds and Spillers which helped enormously through these difficult times.

FINANCIAL REVIEW

Financial position

During the period the charity had a total income of £210,192 (£259,642: 2021). £36,432 (£74,321: 2021) of the income was from grants, the remaining £173,760 (£185,321: 2021) was raised from regular donations, gift aid claims, rehab livery, collections, fundraising, sale of merchandise, holiday cottage income, covid related grants and gains on disposal of fixed assets.

Expenditure and depreciation of fixed assets amounted to £263,186 (£204,792: 2021), leaving a (deficit) of (£52,994) (unrestricted (£43,831), restricted (£9,163)) (surplus £54,850: 2021)

The deficit arose on unrestricted funds due to normal activity and the expenditure of 2021's income surplus.

The restricted deficit in the year relates to permitted transfers to unrestricted funds (see note 25) and expenditure and depreciation relating to the specific projects funding was received for.

In the year a total of £24,516 (£65,931: 2021) was invested in equipment additions and yard improvements.

Fund balances at the balance sheet date were:

Unrestricted £134,512 (£148,398: 2021) Restricted £67,989 (£107,097: 2021)

Total £202,501 (£255,495: 2021)

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New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

FINANCIAL REVIEW

Principal funding sources

It remains essential that the level of income received each year is increased by way of building on existing fundraising sources and regular donations, but also the seeking of grants and donations towards specific projects wherever possible. New Beginnings Horses funded the majority of its own growth in the past (when the activities were carried out through a CIC prior to becoming a CIO and registered charity) and needs to concentrate on seeking funding for capital projects wherever possible so that its regular income can be used for the day to day running costs and support costs that will increase to enable the number of horses re-homed each year to rise.

Reserves policy

The trustees review the policy on reserves at least once per year with reference to the guidance issued by the Charity Commission.

As the charity is responsible for the care of horses, the trustees consider that a general reserve equivalent to two months' regular costs directly relating to the premises costs and insurance, wages, housing, feeding, farriery and veterinary care of the horses on site is appropriate. 30 horses are regularly stabled on site throughout any period. Considering the costs reported, an amount of £25,000 should be available at all times to protect the welfare of the horses, should any sudden change in the charity's income streams arise.

The general reserve is part of the unrestricted funds that are freely available to spend i.e. excluding restricted funds and tangible fixed assets.

This reserves policy also considers that horses can be returned from loan homes where circumstances have changed.

The level of free reserves, that is those unrestricted funds not tied up in tangible fixed assets, nor held in designated funds stood at £34,699 at 31 January 2022.

FUTURE PLANS

New Beginnings hosted its annual charity ball in February 2022. The ball in 2021 was unable to take place due to the pandemic which lost the Charity a valuable source of income for that year. It is planned that the event will be held again in February 2023.

The charity continues to have a presence at York and other racecourses in the region to promote awareness about a racehorse's life after racing, the work of the charity, along with raising funds.

The charity paraded several ridden horses retrained and rehomed by the charity at Ripon, Pontefract, Doncaster and Wetherby racecourses prior to a race meeting. This will be repeated in future years, as New Beginnings feels that it is important to show the racing public the true versatility of these fantastic horses.

New Beginnings will continue to expand on its attendance at Local and County Shows, to promote "Life Past the Post" and the general awareness of New Beginnings and the work they do. The main purpose of which will be to drive more suitable people to New Beginnings when they are looking for a former racehorse or indeed a horse.

New Beginnings takes suitable retrained but not yet rehomed horses to local competitions, they intend to continue with this to again highlight the level and quality of some of the horses that they are retraining and drive more people looking for a horse to them.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

New Beginnings Horses is a charitable incorporated organisation (CIO) and is governed by its constitution dated 13 January 2016.

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New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

The trustees of the CIO are individuals who undertake to act in good faith to further the purposes of the CIO.

The trustees Kevin Atkinson and Pam Atkinson are responsible for the day to day running of the charity.

Decision making

The affairs of the CIO are managed by the trustees Decisions are made by simple majority of votes at a meeting of trustees, in the case of equality of votes, the chairperson shall have a second or casting vote. Resolutions made in writing or electronic form will also be decided upon by simple majority, unless they are required to be agreed by all members who are entitled to vote.

Induction and training of new trustees

New trustees will have an induction meeting with existing trustees and receive an induction information pack.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1165357

Principal address

The Grange Ings Lane Bishop Wilton York East Yorkshire YO42 1AQ

Trustees

Mr K P Atkinson (Chairman) Mrs P M Atkinson (Secretary) Mr M Shinners Mr G Orange Miss L S Bollons (Treasurer)

There must be a minimum of three trustees and a maximum of five trustees. Apart from the first charity trustees, every trustee must be appointed (for a term of three years) by a resolution passed at a properly convened meeting of the charity trustees.

Day to day management of the charity's affairs and line management of staff is carried out by two of the trustees; Kevin Atkinson and Pam Atkinson.

Independent Examiner

Tracy Bramley ACMA CGMA Orchard House Accounting Orchard House 72 Low Moorgate Rillington Malton YO17 8JW

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New Beginnings Horses CIO

Report of the Trustees for the Year Ended 31 January 2022

REFERENCE AND ADMINISTRATIVE DETAILS Advisers

Bankers: Weatherbys Bank Sanders Road Wellingbrough Northamptonshire NN8 4BX

Independent Examiner: Tracy Bramley ACMA CGMA Orchard House Accounting Orchard House 72 Low Moorgate Rillington Malton North Yorkshire YO17 8JW

Approved by order of the board of trustees on 6 January 2023 and signed on its behalf by:

Mr K P Atkinson - Trustee

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Independent Examiner's Report to the Trustees of New Beginnings Horses CIO

Independent examiner's report to the trustees of New Beginnings Horses CIO

I report to the charity trustees on my examination of the accounts of New Beginnings Horses CIO (the Trust) for the year ended 31 January 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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.

Some suggestions have been made to help strengthen the financial controls to overcome practical limitations.

Tracy Bramley ACMA CGMA Orchard House Accounting Orchard House 72 Low Moorgate Rillington Malton YO17 8JW

9 January 2023

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New Beginnings Horses CIO

Statement of Financial Activities

for the Year Ended 31 January 2022

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 160,902 Other trading activities 3 3,590 Investment income 4 9,501 Other income 5 36,199 Total 210,192 EXPENDITURE ON Raising funds 6 9,538 Charitable activities 7 Retraining of former racehorses 239,745 Other 10 4,740 Total 254,023 NET INCOME/(EXPENDITURE) (43,831) Transfers between funds 26 29,945 Net movement in funds (13,886) RECONCILIATION OF FUNDS Total funds brought forward 148,398 TOTAL FUNDS CARRIED FORWARD 134,512	Restricted funds £ - - - - - 2,105 7,058 - 9,163 (9,163) (29,945) (39,108) 107,097 67,989	2022 Total funds £ 160,902 3,590 9,501 36,199 210,192 11,643 246,803 4,740 263,186 (52,994) - (52,994) 255,495 202,501	2021 Total funds £ 210,134 27,753 10,282 11,473 259,642 14,860 187,956 1,976 204,792 54,850 - 54,850 200,645 255,495

The notes form part of these financial statements

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New Beginnings Horses CIO

Balance Sheet

31 January 2022

Unrestricted funds Notes £ FIXED ASSETS Tangible assets 17 99,557 Investments 18 256 99,813 CURRENT ASSETS Stocks 19 1,875 Debtors 20 10,683 Cash at bank and in hand 21 41,152 53,710 CREDITORS Amounts falling due within one year 22 (14,430) NET CURRENT ASSETS 39,280 TOTAL ASSETS LESS CURRENT LIABILITIES 139,093 CREDITORS Amounts falling due after more than one year 23 (4,581) NET ASSETS 134,512 FUNDS 26 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted funds £ 35,699 - 35,699 - - 32,290 32,290 - 32,290 67,989 - 67,989	2022 Total funds £ 135,256 256 135,512 1,875 10,683 73,442 86,000 (14,430) 71,570 207,082 (4,581) 202,501 134,512 67,989 202,501	2021 Total funds £ 142,367 100 142,467 750 16,256 125,554 142,560 (18,843) 123,717 266,184 (10,689) 255,495 148,398 107,097 255,495

The financial statements were approved by the Board of Trustees and authorised for issue on 6 January 2023 and were signed on its behalf by:

Mr K P Atkinson - Trustee

The notes form part of these financial statements

Page 9

New Beginnings Horses CIO

Notes to the Financial Statements for the Year Ended 31 January 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property	- 10% on reducing balance
Plant and machinery	- 15% on reducing balance
Fixtures and fittings	- 15% on reducing balance
Motor vehicles	- 25% on reducing balance
Computer equipment	- 33.33% on cost

Stocks

Stocks are valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2. DONATIONS AND LEGACIES

Donations, loan and rehab fees Gift aid Grants 3. OTHER TRADING ACTIVITIES Fundraising events Merchandise sales 4. INVESTMENT INCOME Rents Holiday Cottage Interest received 5. OTHER INCOME Gain on sale of tangible fixed assets CJRS grants Local authority grants	2022 £ 112,212 12,258 36,432 160,902 2022 £ 290 3,300 3,590 2022 £ 9,345 156 9,501 2022 £ 7,440 4,696 24,063 36,199	2021 £ 125,720 10,093 74,321 210,134 2021 £ 25,305 2,448 27,753 2021 £ 10,245 37 10,282 2021 £ - 1,473 10,000 11,473

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

6. RAISING FUNDS

Raising donations and legacies

Fundraising expenses Travelling and subsistence Motor expenses Depreciation Other trading activities Opening stock Purchases Investment management costs Administrative expenses Holiday cottage expenses Aggregate amounts 7. CHARITABLE ACTIVITIES COSTS Retraining of former racehorses	Direct Costs (see note 8) £ 193,006	2022 £ 3,892 1,793 2,152 1,115 8,952 2022 £ - 2,065 2,065 2022 £ - 626 626 11,643 Support costs (see note 9) £ 53,797	2021 £ 8,322 977 2,123 2,080 13,502 2021 £ 750 152 902 2021 £ 236 220 456 14,860 Totals £ 246,803

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Rent Rates and water Insurance Light and heat Feed Veterinary Tack etc Farrier, physio etc Schooling and yard staff Miscellaneous horse expenses Motor expenses Hay and haylage Bedding Travelling and subsistence Repairs and maintenance Professional fees Depreciation Loss on sale of assets	2022 £ 31,800 4,981 6,858 4,822 7,136 11,761 411 4,732 48,869 4,678 2,156 7,061 2,480 1,793 30,837 - 22,473 158 193,006	2021 £ 31,296 2,560 5,161 5,369 3,284 13,204 803 5,348 38,075 1,349 2,123 7,960 3,565 977 10,049 2,107 23,230 280 156,740

Schooling and yard staff includes wage and pension costs for all employed staff, plus costs of self employed staff.

9. SUPPORT COSTS

Management £ Retraining of former racehorses 51,902 10. OTHER Sundry expenses	Governance Finance costs £ £ 589 1,306 2022 £ 4,740	Totals £ 53,797 2021 £ 1,976

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2022 nor for the year ended 31 January 2021.

No Trustee received any remuneration in their capacity as a Trustee during the year.

Trustees' expenses

No expenses were reimbursed to Trustees in the year (£nil:2021).

12. STAFF COSTS

Wages and salaries - schooling and yard staff Employer's national insurance - schooling and yard staff Pension costs - schooling and yard staff Wages and salaries - management staff Employer's national insurance - management staff Pension costs - management staff	2022 £ 47,742 553 573 44,742 826 316 94,752	2021 £ 19,540 - 386 23,012 - - 42,938

Employer's national insurance not covered by Employment Allowance this year amounted to £1,379. Last year, the employer's national insurance costs were covered in full by Employment Allowance.

Self employed schooling and yard staff costs in the year amounted to £7,894 (2021: £18,149) and is included above.

The average monthly number of employees during the year was as follows:

Manager Staff	2022 2 3 5	2021 2 1 3

No employees received emoluments in excess of £60,000.

Total employee benefits of key management personnel of the charity were £45,057 (£23,012: 2021).

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 210,134 Other trading activities 27,753 Investment income 10,282 Other income 11,473 Total 259,642 EXPENDITURE ON Raising funds 13,372 Charitable activities Retraining of former racehorses 177,330 Other 1,976 Total 192,678 NET INCOME/(EXPENDITURE) 66,964 RECONCILIATION OF FUNDS Total funds brought forward 81,434 TOTAL FUNDS CARRIED FORWARD 148,398	Restricted funds £ - - - - - 1,488 10,626 - 12,114 (12,114) 119,211 107,097	Total funds £ 210,134 27,753 10,282 11,473 259,642 14,860 187,956 1,976 204,792 54,850 200,645 255,495

14. FEES FOR EXAMINATION OF THE ACCOUNTS

Fees for examination of the accounts £750 (2021: £850) are included in accountancy and legal fees.

15. DEFINED PENSION CONTRIBUTION SCHEME

The charity operates a defined contributions pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the charity in independently administered funds. The total charge included in the accounts amounts to £889 (2021: £386). At the balance sheet date there were accrued contributions of £396 (2021: £32) of which £170 (2021: £4) related to employer contributions.

Pension expenses relating to staff allocated to a particular activity have been allocated directly to that activity. The employer pension cost is allocated between restricted and unrestricted funds in line with the allocation of the corresponding staff salaries.

Pension costs relating to management staff amounted to £316 (2021: £nil).

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

16. RENT

The lease for the premises at The Grange, where the Charity is based, is in the names of Kevin Atkinson and Pam Atkinson personally, on trust for the Charity itself. The rent and lease are treated as being the Charity's expenditure and commitment.

The landlord is fully aware the Charity occupies the property under the lease and is also a donor and supporter of the Charity.

17. TANGIBLE FIXED ASSETS

Improvements to Plant and property machinery £ £ COST At 1 February 2021 9,891 137,502 Additions - 24,192 Disposals - (3,568) At 31 January 2022 9,891 158,126 DEPRECIATION At 1 February 2021 3,156 51,360 Charge for year 674 16,301 Eliminated on disposal - (1,903) At 31 January 2022 3,830 65,758 NET BOOK VALUE At 31 January 2022 6,061 92,368 At 31 January 2021 6,735 86,142 Motor Computer vehicles equipment £ £ COST At 1 February 2021 43,200 6,969 Additions - 324 Disposals (15,000) - At 31 January 2022 28,200 7,293 DEPRECIATION At 1 February 2021 30,724 3,670 Charge for year 2,231 2,148 Eliminated on disposal (11,448) - At 31 January 2022 21,507 5,818 NET BOOK VALUE At 31 January 2022 6,693 1,475 At 31 January 2021 12,476 3,299

Fixtures and fittings £ 47,359 - - 47,359 13,644 5,056 - 18,700 28,659 33,715 Totals £ 244,921 24,516 (18,568) 250,869 102,554 26,410 (13,351) 115,613 135,256 142,367

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

17. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

COST At 1 February 2021 and 31 January 2022 DEPRECIATION At 1 February 2021 and 31 January 2022 NET BOOK VALUE At 31 January 2022 At 31 January 2021 18. FIXED ASSET INVESTMENTS MARKET VALUE At 1 February 2021 Additions At 31 January 2022 NET BOOK VALUE At 31 January 2022 At 31 January 2021 There were no investment assets outside the UK. 19. STOCKS Stocks	Plant and machinery £ 22,590 3,389 19,201 19,201 Unlisted investments £ 100 156 256 256 100 2022 2021 £ £ 1,875 750

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

20. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors Prepayments	2022 £ 9,609 1,074 10,683	2021 £ 10,677 5,579 16,256

21. CASH AT BANK AND IN HAND

Cash in hand Weatherbys and Unity Trust Paypal and Square Total Cash in hand Weatherbys and Unity Trust Paypal and Square Total	Racing Foundation Business General Development All Weather fund Grant Arena £ £ £ 93 - - 40,630 126 25,289 429 - - 41,152 126 25,289 2022 2021 Exhibition Unit Fit-out and Promotional Total Total Material funds funds £ £ £ - 93 136 6,875 72,920 125,394 - 429 24 6,875 73,442 125,554

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other loans (see note 24) Hire purchase (see note 25) Trade creditors Other creditors Accrued expenses 23. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Hire purchase (see note 25) 24. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans	2022 £ 1,361 6,108 2,728 2,425 1,808 14,430 2022 £ 4,581 2022 £ 1,361	2021 £ 6,487 6,108 2,999 507 2,742 18,843 2021 £ 10,689 2021 £ 6,487

This loan is owed to the trustees Kevin Atkinson and Pam Atkinson. The loan will be repaid by the charity to the trustees as unrestricted funds allow and not to the detriment of the charity. No interest is payable on the loan nor does the loan carry any charge or security over the assets.

25. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Net obligations repayable: Within one year Between one and five years	2022 £ 6,108 4,581 10,689	2021 £ 6,108 10,689 16,797

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New Beginnings Horses CIO

Notes to the Financial Statements - continued

for the Year Ended 31 January 2022

26. MOVEMENT IN FUNDS

Unrestricted funds General fund Restricted funds Racing Foundation Business Development Grant Racewood Simulator Horse Walker Two Stall Horsebox 10 stables 4 Stables All Weather Arena Exhibition Unit Trailer Painted Horse Exhibition Unit Fit-out and Promotional Material Solarium TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds Racewood Simulator Horse Walker Two Stall Horsebox 10 stables 4 Stables Exhibition Unit Trailer Painted Horse Exhibition Unit Fit-out and Promotional Material Solarium TOTAL FUNDS	At 1.2.21 £ 148,398 126 717 12,716 8,923 4,696 1,228 51,989 6,031 4,737 15,153 781 107,097 255,495 as follows:	Net movement in funds £ (43,831) - (107) (1,907) (2,231) (704) (184) - (905) (224) (2,784) (117) (9,163) (52,994) Incoming resources £ 210,192 - - - - - - - - - - 210,192	Transfers between At funds 31.1.22 £ £ 29,945 134,512 - 126 - 610 - 10,809 - 6,692 - 3,992 - 1,044 (26,700) 25,289 - 5,126 (3,245) 1,268 - 12,369 - 664 (29,945) 67,989 - 202,501 Resources Movement expended in funds £ £ (254,023) (43,831) (107) (107) (1,907) (1,907) (2,231) (2,231) (704) (704) (184) (184) (905) (905) (224) (224) (2,784) (2,784) (117) (117) (9,163) (9,163) (263,186) (52,994)

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

26. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.2.20 £ Unrestricted funds General fund 81,434 Restricted funds Racing Foundation Business Development Grant 126 Racewood Simulator 844 Horse Walker 14,960 Two Stall Horsebox 11,897 10 stables 5,525 4 Stables 1,445 All Weather Arena 54,300 Exhibition Unit Trailer 7,095 Painted Horse 5,000 Exhibition Unit Fit-out and Promotional Material 17,100 Solarium 919 119,211 TOTAL FUNDS 200,645 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 259,642 Restricted funds Racewood Simulator - Horse Walker - Two Stall Horsebox - 10 stables - 4 Stables - All Weather Arena - Exhibition Unit Trailer - Painted Horse - Exhibition Unit Fit-out and Promotional Material - Solarium - - TOTAL FUNDS 259,642

Net movement At in funds 31.1.21 £ £ 66,964 148,398 - 126 (127) 717 (2,244) 12,716 (2,974) 8,923 (829) 4,696 (217) 1,228 (2,311) 51,989 (1,064) 6,031 (263) 4,737 (1,947) 15,153 (138) 781 (12,114) 107,097 54,850 255,495 Resources Movement expended in funds £ £ (192,678) 66,964 (127) (127) (2,244) (2,244) (2,974) (2,974) (829) (829) (217) (217) (2,311) (2,311) (1,064) (1,064) (263) (263) (1,947) (1,947) (138) (138) (12,114) (12,114) (204,792) 54,850

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

26. MOVEMENT IN FUNDS - continued

The purpose of the restricted funds are as follows:

Business development grant - provided by the Racing Foundation (£26,000)

This fund covered fees to help generate income for the charity and make grant applications

Racewood simulator - funded by Persula Foundation (£1,620)

This fund relates to a specific grant to purchase the simulator. The balance will fund the depreciation of the simulator.

Horse walker - contributions from RoR (£18,912) and Godolphin (£5,000)

These grants assisted in the purchase and installation of the Claydon Horse Exerciser. The balance will fund the depreciation of the simulator.

2 Stall Horsebox - funded by The Sir Peter O'Sullevan Charitable Trust (£28,200) This grant was for the purchase of the 2 stall horsebox. The balance will fund the depreciation of the simulator.

10 stables - contribution by Persula Foundation (£9,000)

This grant was a contribution towards the costs incurred installing 10 stables in an outbuilding and associated costs. The balance will fund the depreciation of the 10 stables.

4 stables - contribution by Persula Foundation (£2,000) This grant was a contribution towards the costs incurred installing 4 stables in an outbuilding and associated costs. The balance will fund the depreciation of the 4 stables.

All weather arena - contributions from RoR (£26,700) and Alborada Trust (£27,600)

A total of £54,300 of grants were received awaiting the raising of further funds to install a roof over the all weather arena. This project will now not proceed in the same format and will require less funds. RoR have confirmed, during the year, that their grant of £26,700 can be allocated to unrestricted funds so this has been done. £27,600 remains restricted .

to cover the smaller all weather pen project.

Exhibition unit trailer - funded by the Racing Foundation (£9,820)

This grant was for the purchase of the exhibition unit trailer. The balance will fund the depreciation of the trailer.

Painted Horse - funded by Persula Foundation (£5,000)

This grant was for the purchase of a life size horse model painted to show the anatomy of the horse. The project came in under budget and the remaining funds will be put towards another project or other costs as agreed with the funder. The balance will fund the depreciation of the trailer.

Exhibition unit fit out and promotional material - funded by The Sir Peter O'Sullevan Charitable Trust (£19,500) This grant is to cover the costs of fitting out the exhibition unit and associated promotional material and to cover future depreciation.

Solarium - funded by a disbanded association, Harrogate Bridleways, (£1,430) given for a specific project This grant was allocated to the costs incurred acquiring and installing a solarium used in the care of the horses. The balance will fund the depreciation of the solarium.

Transfers between funds

Unspent funds of £3,245 relating to the Painted Horse project donated by Persula Foundation were permitted by the donor to be transferred to unrestricted funds due to the project coming in under budget.

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New Beginnings Horses CIO

Notes to the Financial Statements - continued for the Year Ended 31 January 2022

26. MOVEMENT IN FUNDS - continued

Transfers between funds - continued

A contribution of £26,700 from RoR, for the original all weather arena project, was permitted by RoR to be transferred to general funds in the year. This was due to the original project being modified to that of an all weather pen, as less funding would be required for this, but objectives still met. The original project was going to require significant further funding than already raised.

27. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

Trustee remuneration and benefits

Two of the trustees, Kevin Atkinson and Pam Atkinson, work in excess of full time for the charity. The only remuneration paid by the charity in the period was:

£22,371 (£12,210: 2021) to Kevin Atkinson £22,371 (£10,802: 2021) to Pam Atkinson

Employer pension contributions paid were:

£158 (£nil: 2021) for Kevin Atkinson £158 (£nil: 2021) for Pam Atkinson

The constitution allows for trustees to be remunerated with no more than a reasonable remuneration, provided that a majority of the trustees do not benefit under this provision.

Onsite residential accommodation with an estimated market value of £6,000 per annum (£6,000: 2021) plus council tax and water rates of £2,824 (£2,261: 2021) was provided for the trustees Kevin Atkinson and Pam Atkinson, and paid for by the charity. These trustees provide constant security and care for the horses on site at New Beginnings Horses. As the provision of residential accommodation for onsite trustees/staff is essential for the welfare of the horses to enable them to be monitored and cared for continually, this is considered to be an exempt benefit from a taxation and national insurance position.

Transactions with related parties

The trustees Kevin Atkinson and Pam Atkinson are jointly owed £1,361 (£6,487: 2021) by the charity at 31 January 2022. This will be repaid as unrestricted funds allow.

During the year an amount of £7,694 (£50: 2021) was paid to Kevin Atkinson's son, James Atkinson, for yard work throughout the year performed on a self employed basis.

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New Beginnings Horses CIO

Detailed Statement of Financial Activities for the Year Ended 31 January 2022

Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Donations, loan and rehab fees 112,212 - Gift aid 12,258 - Grants 36,432 - 160,902 - Other trading activities Fundraising events 290 - Merchandise sales 3,300 - 3,590 - Investment income Rents Holiday Cottage 9,345 - Interest received 156 - 9,501 - Other income Gain on sale of tangible fixed assets 7,440 - CJRS grants 4,696 - Local authority grants 24,063 - 36,199 - Total incoming resources 210,192 - EXPENDITURE Raising donations and legacies Fundraising expenses 2,902 990 Travelling and subsistence 1,793 - Motor expenses 2,152 - Motor vehicles - 1,115 6,847 2,105 Other trading activities Opening stock - - Merchandise for resale 2,065 - 2,065 -	2022 Total funds £ 112,212 12,258 36,432 160,902 290 3,300 3,590 9,345 156 9,501 7,440 4,696 24,063 36,199 210,192 3,892 1,793 2,152 1,115 8,952 - 2,065 2,065	2021 Total funds £ 125,720 10,093 74,321 210,134 25,305 2,448 27,753 10,245 37 10,282 - 1,473 10,000 11,473 259,642 8,322 977 2,123 2,080 13,502 750 152 902

This page does not form part of the statutory financial statements

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New Beginnings Horses CIO

Detailed Statement of Financial Activities for the Year Ended 31 January 2022

Unrestricted Restricted funds funds £ £ Other trading activities Investment management costs Administrative expenses - - Holiday cottage expenses 626 - 626 - Charitable activities Rent 31,800 - Rates and water 4,981 - Insurance 6,858 - Light and heat 4,822 - Feed 7,136 - Veterinary 11,761 - Tack etc 411 - Farrier, physio etc 4,732 - Schooling and yard staff 48,869 - Miscellaneous horse expenses 4,678 - Motor expenses 2,156 - Hay and haylage 7,061 - Bedding 2,480 - Travelling and subsistence 1,793 - Repairs and maintenance 30,837 - Professional fees - - Plant and machinery 12,175 4,126 Fixtures and fittings 4,169 888 Motor vehicles - 1,115 Loss on sale of intangible fixed assets - - Loss on sale of tangible fixed assets 158 - 186,877 6,129 Other Sundry expenses 4,740 - Support costs Management Wages 45,883 - Telephone 2,725 - Postage and stationery 472 - Improvements to property 674 - Computer equipment 1,219 929 50,973 929 Finance Bank charges 148 - Carried forward 148 -	2022 Total funds £ - 626 626 31,800 4,981 6,858 4,822 7,136 11,761 411 4,732 48,869 4,678 2,156 7,061 2,480 1,793 30,837 - 16,301 5,057 1,115 - 158 193,006 4,740 45,883 2,725 472 674 2,148 51,902 148 148	2021 Total funds £ 236 220 456 31,296 2,560 5,161 5,369 3,284 13,204 803 5,348 38,075 1,349 2,123 7,960 3,565 977 10,049 2,107 15,201 5,950 2,079 280 - 156,740 1,976 23,012 2,481 1,106 748 2,039 29,386 276 276

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Page 25

New Beginnings Horses CIO

Detailed Statement of Financial Activities for the Year Ended 31 January 2022

Unrestricted Restricted funds funds £ £ Finance Brought forward 148 - HP interest 441 - 589 - Governance costs Accountancy and legal fees 1,306 - Total resources expended 254,023 9,163 Net income (43,831) (9,163)	2022 Total funds £ 148 441 589 1,306 263,186 (52,994)	2021 Total funds £ 276 110 386 1,444 204,792 54,850

This page does not form part of the statutory financial statements

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