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2021-03-31-accounts

Charity Number: 1166682

HorseHeard

Accounts

for the year ended 31st March 2021

Wenn Townsend

Chartered Accountants

Oxford

HorseHeard

Page
Charity Information 1
Trustees’ Report 2 to 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8 to 12

HorseHeard

Chair: Heather Hardy Trustees: Andrew McFarlane Guy Oppenheim Rosalie Millard Evans Caroline Brown Registered Charity Number: 1166682 Registered Address: 30 St Giles’ Oxford OX1 3LE Independent Examiners: Wenn Townsend Chartered Accountants Gosditch House 5 Gosditch Street Cirencester GL7 2AG

1

HorseHeard

Trustees' Report

for the year ended 31st March 2021

Reference and administrative details

These are shown on page 1.

Structure, Governance and Management

Governing Document

The charity is controlled by its governing document, and constitutes an unincorporated charity.

The charity trustees are the only voting members of the Charitable Incorporated Organisation (CIO) and these are selected by the other trustees and CEO.

Trustees and Management

The charity is governed by a Management Committee of five Trustees, CEO and independent non-executive: Andrew McFarlane (Chair); Guy Oppenheim (Finance); Rosalie Millard Evans with two additional Trustees Caroline Brown and Heather Hardy, voted on during this period.

The Charity continues to have two Patrons: Mary Wanless international coach and author of ‘Ride with your Mind’ and John Peters squadron leader RAF rtd.

There have been a number of changes in February 2021 to the make-up of the Management Committee:

The Management Committee meet formerly on a quarterly basis, usually in London. However due to Covid restrictions these meetings, along with monthly update meetings have been held online through Zoom.

Principal risks and uncertainties

HorseHeard continues to be flexible and adaptive to current circumstances and innovative in its approach and consequently was able to successfully manage and weather the challenges of the pandemic and Covid restrictions, ready to resume EFL sessions once equine facilities were able to open up and groups could meet.

Objectives, Activities and Public Benefit

Objectives

The Trustees have had regard to the Charity Commission’s guidance on public benefit in carrying out the charity’s objectives. The objects are to promote positive emotional health and well-being for children, young people and adults in need through equine facilitated learning, so as to improve their quality of life.

In the case of young people this will enable them to increase their confidence and emotional resilience and succeed in their education, helping to reduce behavioural and bullying incidents and mental health issues. In the case of adults in need, our work has been with Forces Veterans, but this year due to the pandemic HorseHeard has worked with frontline staff from Buckinghamshire Healthcare NHS Trust, supporting a variety of staff with their mental health, enabling them to develop their emotional resilience, manage their emotions, have time out and a chance for reflection and in the case of the veterans find their personal identity in a new ‘norm’. This is consistently achieved through the charity’s provision of Equine Facilitated Learning (EFL).

2

HorseHeard

Trustees' Report (continued) for the year ended 31st March 2021

Activities

  1. Deliver evidence based and quality assured HorseHeard sessions and Programmes to children, young people and adults in need, locally, nationally and internationally,

  2. Secure funding through grants, CSR sponsorship packages, fundraising activities, regular donations (Friends of HorseHeard) and ad-hoc donations,

  3. Operate with a confident strategic Management Team and operational Support Team, with a HorseHeard Community of trained EFL deliverers & volunteers,

  4. Develop Strategic Partnerships,

  5. Promote HorseHeard and existing EFL programmes throughout the country and devise bespoke EFL programmes for new client groups as required.

Development of the Charity is currently carried out on a voluntary basis.

There was the aspiration within the visionary Five Year Strategy developed in 2018, to manageably grow the Charity to help more beneficiaries and transition from a volunteer part time organisation to a paid full time staff team, attracting and recruiting a dynamic paid CEO, supported by a small ‘Support Team’.

This year a highly qualified and experienced volunteer has been recruited to the CEO role, enabling the present CEO to retire. As part of the role the new CEO is to develop and grow the charity, to access their own funding and recruit the support team. The first self-employed appointment has been a finance and administrative assistant.

Local volunteers are welcomed to assist with any Equine Facilitated Learning delivery and are a vital part of our fundraising team.

Achievements

In HorseHeards fifth year of operation as a charity, it has continued to grow in spite of months of lockdown and Covid restrictions, so although unable to deliver any EFL Community Support Programmes in this period, there has been time for evaluation, review and action.

The Charity was previously successful in securing an Awards for All grant to create a Social Value and Impact Report of its work over the last seven years (2013 – 2020), from when it first started out as a Social Enterprise and then became a Charity in 2016. It documents the five Community Support Programmes and the impact of our work with over 1000 young people and Forces veterans. This is now published and available to read on the new HorseHeard website www.horseheard.com.

Plans for Future Periods

HorseHeard has responded to new opportunities this year to meet the emerging mental health needs of health care staff as a consequence of the pandemic. EFL sessions have been trialled with frontline staff from Buckinghamshire Healthcare NHS Trust. Further work is continuing from this pilot as Covid restrictions start to ease.

Financial review

The Statement of Financial Activities, set out on page 6, reflects all income receivable in the year. The surplus for the year was £63,439 (2020: deficit of £11,558). This surplus includes £50,000 (2020: £nil) of net income from donations into restricted funds.

Principal sources of funding

The principal source of funds to date has been local fundraising and traded income from delivery of work. Public donations have subsidised delivery of HorseHeard programmes for vulnerable groups to meet the charity objectives. A grant from the Rothschild Foundation has been awarded as Covid-19 support for NHS staff and vulnerable children in Buckinghamshire in this period and further funding applications submitted.

Reserves Policy

The Charity has a reserve policy of £5,000.

3

HorseHeard

Trustees' Report (continued) for the year ended 31st March 2021

Statement of Trustees' responsibilities with regard to accounts

The Trustees are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom accounting standards (United Kingdom Generally Accepted Accounting Practice).

In preparing those accounts the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities SORP 2019. 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.

In so far as the Trustees are aware:

On behalf of the board

Heather Hardy Chair

8th October 2021

4

HorseHeard Independent examiner’s Report to the members of HorseHeard

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2021 which are set out on pages 6 to 13.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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:

I have no concerns and have come across no 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 Rodzynski FCA Wenn Townsend Gosditch House 5 Gosditch Street Cirencester GL7 2AG

8th October 2021

5

HorseHeard Statement of Financial Activities for the year ended 31st March 2021

Unrestricted Unrestricted Restricted Total Unrestricted Total
Funds Funds Funds Funds Funds
2021 2021 2021 2020 2020
£ £ £ £ £
Income Note
Grants and donations 3 9,110 50,000 59,110 11,777 11,777
Income from charitable activities 4
Equine Programmes 17,200 - 17,200 10,959 10,959
Events refund (1,440) - (1,440) - -
Bank Interest 10 - 10 6 6
––––––– ––––––– ––––––– ––––––– –––––––
Total income 24,880 50,000 74,880 22,742 22,742
––––––– ––––––– ––––––– ––––––– –––––––
Expenditure
Expenditure on raising funds 6 2,020 - 2,020 10,521 10,521
Expenditure on charitable activities 7 9,421 - 9,421 23,779 23,779
––––––– ––––––– ––––––– ––––––– –––––––
Total expenditure 11,441 - 11,441 34,300 34,300
––––––– ––––––– ––––––– ––––––– –––––––
Net income/(expenditure) 13,439 50,000 63,439 (11,558) (11,558)
––––––– ––––––– ––––––– ––––––– –––––––
Net movement in funds 13,439 50,000 63,439 (11,558) (11,558)
––––––– ––––––– ––––––– ––––––– –––––––
Total funds brought forward 10,404 - 10,404 21,962 21,962
––––––– ––––––– ––––––– ––––––– –––––––
Total funds carried forward 23,843 50,000 73,843 10,404 10,404
═════ ═════ ═════ ═════ ═════

6

HorseHeard

Balance Sheet at 31st March 2021

2021 2020
£ £ £ £
Current assets
Debtors 8 - 640
Cash at bank and in hand 75,153 12,964
────── ──────
75,153 13,604
Creditors: Amounts falling
due within one year 9 (1,310) (3,200)
────── ──────
Net current assets 73,843 10,404
────── ───────
Net assets 73,843 10,404
══════ ═══════
Reserves
Unrestricted funds 10 23,843 10,404
Restricted funds 10 50,000 -
────── ───────
73,843 10,404
══════ ═══════

These accounts were approved by the Board of Trustees on 8th October 2021 and signed on its behalf by

…………………….. Heather Hardy Chair

The notes on pages 8 to 12 form part of these accounts.

7

HorseHeard

Notes to the accounts for the year ended 31st March 2021

1. Summary of significant accounting policies

Basis of preparation and assessment of going concern

Horseheard is a charity in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probably that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probably that they will be fulfilled.

Grant income is recognised as receivable subject to fulfilment of any associated conditions. Where conditions have been met or are likely to be met, grant income is recognised in full.

Expenditure recognition

All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probably that the settlement will be required, and the amount of the obligation can be measured reliably. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.

Charitable activity costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

8

HorseHeard

Notes to the accounts (continued) for the year ended 31st March 2021

1. Summary of significant accounting policies (continued)

Taxation

The charity is exempt from tax on its charitable activities.

Unrestricted funds

A general fund which the Trustees may use for the furtherance of the objects of the charity at their discretion.

Restricted funds

These are subject to specific conditions imposed by the donor, which are legally binding upon the Trustees.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of charitable activities from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, including a revision of expectations for the potential impact of COVID-19 on the charity. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.

2. Trustees’ remuneration and benefits

No Trustees received remuneration in the period for work done as Trustees, however paid freelance facilitator work was carried out by Andrew McFarlane in the period for a total of £723 (2020: £Nil)

Trustees’ expenses paid for the year ended 31st March 2021 were £Nil (2020: £1,922).

9

HorseHeard

Notes to the accounts (continued) for the year ended 31st March 2021

3.
Donations and legacies
Donations
Grants
Included in grants for the current year is £50,000 of restricted funds (2020: £nil).
4.
Income from charitable activities
Equine programmes:
Being friends
NHS traded income projects
Me, myself & I
121 Looked after person
Events
Events refunds		 2021
£
9,110
50,000
_
59,110
═════

2021
£
3,200
13,500
500
-
-
(1,440)
_
15,760
═════		 2020
£
11,777
-
_
11,777
═════
2020
£
5,600
-
600
3,960
799
-
_
10,959
═════

5. Charitable expenditure The charity only undertakes direct charitable activities and does not make grant payments. 6. Expenditure on raising funds

Advertising and promotion
Contracting – business development
Contracting - fundraiser
Donations – patron/event expenses		 2021
£
120
1,900
-
-
_
2,020
═════
 2020
£
251
1,830
7,800
640
_
10,521
═════

10

HorseHeard

Notes to the accounts (continued) for the year ended 31st March 2021

7. Expenditure on charitable activities

Facilitator fees
Venue fees
Horse handler fees
Travel costs
Honorarium
Office costs
Web hosting
Computer software
Legal and professional fees
Consultancy fees
Insurance
Travel
Bad debts written off
Accountancy fee
8.
Debtors
Trade debtors
9.
Creditors: Amounts falling due within one year
Trade creditors
Accruals		 2021
£
2,357
600
-
-
2,930
417
688
114
-
200
955
-
200
960
_
9,421
═════
2021
£
-
──────
-
══════
2021
£
350
960
──────
1,310
══════		 2020
£
12,523
3,816
300
642
655
651
-
396
1,750
550
912
1,384
200
-
_
23,779
═════
2020
£
640
──────
640
═════
2020
£
3,200
-
──────
3,200
══════

11

HorseHeard

Notes to the accounts (continued) for the year ended 31st March 2021

10. Analysis of charitable funds

At 1st At 31st
April 2020 Income Expenditure March 2021
£ £ £ £
Unrestricted 10,404 24,880 (11,441) 23,843
Restricted
Rothchild fund - 50,000 - 50,000
────── ────── ────── ──────
- 50,000 - 50,000
────── ────── ────── ──────
10,404 74,880 (11,441) 73,843
══════ ══════ ══════ ══════
At 1st At 31st
April 2019 Income Expenditure March 2020
£ £ £ £
Unrestricted 21,962 22,742 (34,300) 10,404
────── ────── ────── ──────
21,962 22,742 (34,300) 10,404
══════ ══════ ══════ ══════

Rothchild Foundation fund description

The Rotchild Foundation grant was awarded for Covid-19 support to NHS staff and vulnerable children in Buckinghamshire.

11. Summary of Net Assets by Funds

Unrestricted Restricted Total
Funds Funds Funds
£ £ £
2021
Current Assets 25,153 50,000 75,153
Current Liabilities (1,310) - (1,310)
───── ───── ─────
23,843 50,000 73,843
═════ ═════ ═════
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
2020
Current Assets 13,604 - 13,604
Current Liabilities (3,200) - (3,200)
───── ───── ─────
10,404 - 10,404
═════ ═════ ═════

12