**Charity Number: 1166682** 

## **HorseHeard** 

## **Accounts** 

**for the year ended 31st March 2022** 

**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|
|Income and Expenditure Account|13|





## **HorseHeard** 

## **Chair:** 

**Chair:** Heather Hardy **Trustees:** Andrew McFarlane (resigned 23/05/22) Guy Oppenheim (resigned 01/04/22) Rosalie Millard Evans Caroline Brown Andrea Winfield (appointed 08/10/21) Tom Meynell (appointed 01/04/22) Edward MacFarlane (appointed 23/05/22) **Registered Charity Number:** 1166682 **Registered Address:** 30 St Giles’ Oxford OX1 3LE **Independent Examiners:** Wenn Townsend Chartered Accountants 30 St Giles’ Oxford OX1 3LE 

**1** 



## **HorseHeard** 

## **Trustees' Report** 

## **for the year ended 31st March 2022** 

## **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: Heather Hardy (Chair); Guy Oppenheim (Finance); Rosalie Millard Evans, Caroline Brown and Andrew McFarlane with additional trustee, Andrea Winfield 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 was one change in during the reporting period 2021-2022 to the make-up of the Management Committee: 

- an additional Trustee was voted on by the other Trustees: Andrea Winfield, 

The Management Committee meet formerly on a quarterly basis, via zoom to remain safe in light of Covid restrictions. 

## **Principal risks and uncertainties** 

HorseHeard continued 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, and resumed EFL sessions once equine facilities were able to open up and groups could meet. 

In addition the charity in the last quarter became aware of significant changes in the personal circumstances of key trustees and actively began looking for new trustees for the next financial reporting period. 

## **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 2022** 

## **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. 

The CEO and support staff are contracted in connection to project delivery and as such are self-employed with most of the delivery engaged on a volunteer basis. During 2021 the CEO in collaboration with Buckingham Healthcare Trust secured a grant from NHS Charities Together to support the Buckinghamshire Community and the NHS Trust as it responded to the aftermath of the pandemic. 

## **Achievements** 

HorseHeard secured support in the last quarter of the period to provide support to NHS Staff and children on the Paediatric pathway with most of the delivery to be achieved in 2022-23. The combined grants for the delivery represented a 500% growth in the charity’s delivery from previous years. 

## **Plans for Future Periods** 

HorseHeard has responded to new opportunities this year to meet the emerging mental health needs of health care staff and their communities as a consequence of the pandemic. EFL sessions have been trialled with frontline staff from Buckinghamshire Healthcare NHS Trust and further work has been secured with a large trial pilot to support children on the paediatric pathway. 

## **Financial review** 

The Statement of Financial Activities, set out on page 6, reflects all income receivable in the year. The deficit for the year was £6,361 (2021: surplus of £63,439). This includes £24,311 (2021: £50,000) 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. The grant from the Rothschild Foundation was extended to meet the continuing regulations as Covid-19 continues. NHS Charities Together provided additional 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 2022** 

## **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: 

- Select suitable accounting policies and then apply them consistently. 

- Observe the methods and principles in the charities SORP. 

- Make judgements and estimates that are reasonable and prudent. 

- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. 

- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue. 

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: 

- There is no relevant independent examination information of which the charity’s examiners are unaware. 

- They have taken all the steps that they ought to have taken to make themselves aware of any relevant examination information and to establish that the charity’s examiner are aware of that information. 

## **On behalf of the board** 


## **Heather Hardy Chair** 

## **25[th] November 2022** 

**4** 



**Independent examiner’s Report to the members of HorseHeard** 

## **HorseHeard** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2022 which are set out on pages 6 to 14. 

## **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: 

- 1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2) the accounts do not accord with those records. 

- 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 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 30 St Giles Oxford OX1 3LE** 

## **7th October 2022** 

**5** 



## **HorseHeard Statement of Financial Activities for the year ended 31st March 2022** 

||||**Unrestricted**|**Restricted**|**Total**|**Restricted**|**Unrestricted**|<br>**Total**<br>|
|---|---|---|---|---|---|---|---|---|
||||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||||**2022**|**2022**|**2022**|**2021**|**2021**|**2021**|
||||**£**|**£**|**£**|**£**|**£**|**£**|
|**Income**|**Note**||||||||
|Grants and donations||**3**|1,966|24,311|26,277|9,110|50,000|59,110|
|Income from charitable activities||**4**|||||||
|Equine Programmes|||2,400|-|2,400|17,200|-|17,200|
|Events refund|||(225)|-|(225)|(1,440)|-|(1,440)|
|Bank Interest|||1|-|1|10|-|10|
||||─────|─────|─────|─────|─────|─────|
|**Total income**|||4,142|24,311|28,453|24,880|24,880|74,880|
||||─────|─────|─────|─────|─────|─────|
|**Expenditure**|||||||||
|Expenditure on raising funds||**6**|-|-|-|2,020|-|2,020|
|Expenditure on charitable activities||**7**|6,467|28,347|34,814|9,421|-|9,421|
||||─────|─────|─────|─────|─────|─────|
|**Total expenditure**|||6,467|28,347|34,814|11,441|-|11,441|
||||─────|─────|─────|─────|─────|─────|
|**Net (expenditure)/income**|||(2,325)|(4,036)|(6,361)|13,439|50,000|13,439|
||||─────|─────|─────|─────|─────|─────|
|**Net movement in funds**|||(2,325)|(4,036)|(6,361)|13,439|50,000|63,439|
||||─────|─────|─────|─────|─────|─────|
|**Total funds brought forward**|||23,843|50,000|73,843|10,404|-|10,404|
||||─────|─────|─────|─────|─────|─────|
|**Total funds carried forward**|||21,518|45,964|67,482|23,843|50,000|73,843|
||||═════|═════|═════|═════|═════|═════|



**6** 



## **HorseHeard** 

|||**Balance Sheet**||||
|---|---|---|---|---|---|
|||**at 31st March 2022**||||
|||**2022**||**2021**||
|||**£**|**£**|**£**|**£**|
|**Current assets**||||||
|Cash at bank and in hand||72,567||75,153||
|||─────||─────||
|||72,567||75,153||
|**Current liabilities**||||||
|**Creditors**: Amounts falling||||||
|due within one year|**8**|(5,085)||(1,310)||
|||─────||─────||
|**Net current assets**|||67,482||73,843|
||||─────||─────|
|**Net assets**|||67,482||73,843|
||||═════||═════|
|**Reserves**||||||
|Unrestricted funds|**9**||21,518||23,843|
|Restricted funds|**9**||45,964||50,000|
||||─────||─────|
||||67,482||73,843|
||||═════||═════|



These accounts were approved by the Board of Trustees on 25[th] November 2022 and signed on its behalf by 


## **Heather Hardy Chair** 

**The notes on pages 8 to 13 form part of these accounts.** 

**7** 



## **HorseHeard** 

## **Notes to the accounts for the year ended 31st March 2022** 

## **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 2022** 

## **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 Trustee received remuneration in the period for work done as a Trustee, however, paid freelance facilitator work was carried out by Andrew McFarlane in the period for a total of £1,925 (2021: £723) and Heather Hardy for a total of £1,496 (2021: £Nil). 

Trustees’ expenses paid for the year ended 31st March 2022 were £Nil (2021: £Nil). 

**9** 



## **HorseHeard** 

## **Notes to the accounts (continued) for the year ended 31st March 2022** 

## **3. Grants & Donations** 

|**Grants & Donations**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Donations|1,966|9,110|
|Grants|24,311|50,000|
||─────|─────|
||26,277|59,110|
||═════|═════|
|Included in grants for the current year is £24,311 of restricted funds (2021: £50,000).|||
|**Income from charitable activities**|||
||**2022**|**2021**|
||**£**|**£**|
|Equine Facilitated Learning programmes:|||
|Being Friends|1,200|3,200|
|Stablemates|1,200|-|
|NHS traded income projects|-|13,500|
|Me, Myself & I|-|500|
|Events refunds|(225)|(1,440)|
||─────|─────|
||2,175|15,760|
||═════|═════|



## **4. Income from charitable activities** 

## **5. Charitable expenditure** 

The charity only undertakes direct charitable activities and does not make grant payments. 

## **6. Expenditure on raising funds** 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Advertising and promotion|-|120|
|Contracting – business development|-|1,900|
||─────|─────|
||-|2,020|
||═════|═════|



**10** 



## **HorseHeard** 

## **Notes to the accounts (continued) for the year ended 31st March 2022** 

## **7. Expenditure on charitable activities** 

|||**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
||Project management|11,864|-|
||Facilitator fees|9,266|2,357|
||Venue fees|4,138|600|
||Horse handler fees|276|-|
||Equipment|392|-|
||Honorarium|1,000|2,930|
||Office costs|-|417|
||Finance Admin|5,014|-|
||Postage|3|-|
||Web hosting|1,190|688|
||Computer software|114|114|
||Consultancy fees|-|200|
||Insurance|957|955|
||Bad debts written off|-|200|
||Accountancy fee|600|960|
|||─────|─────|
|||34,814|9,421|
|||═════|═════|
|**8.**|**Creditors: Amounts falling due within one year**|||
|||**2022**|**2021**|
|||**£**|**£**|
||Trade creditors|-|350|
||Accruals|5,085|960|
|||─────|─────|
|||5,085|1,310|
|||═════|═════|



**11** 



## **HorseHeard** 

## **Notes to the accounts (continued) for the year ended 31st March 2022** 

## **9. Analysis of charitable funds** 

|**Analysis of charitable funds**|||||
|---|---|---|---|---|
||**At 1st**|||**At 31st**|
||**April 2021**|**Income**|**Expenditure**|**March 2022**|
||**£**|**£**|**£**|**£**|
|**Unrestricted**|23,843|4,142|(6,467)|21,518|
|**Restricted**|||||
|Covid-19 support to NHS staff and|50,000|24,311|(28,347)|45,964|
|vulnerable children in Buckinghamshire|||||
||─────|─────|─────|─────|
||73,843|28,453|(34,814)|67,482|
||═════|═════|═════|═════|
||**At 1st**|||**At 31st**|
||**April 2020**|**Income**|**Expenditure**|**March 2021**|
||**£**|**£**|**£**|**£**|
|**Unrestricted**|10,404|24,880|(11,441)|23,843|
|**Restricted**|||||
|Covid-19 support to NHS staff and|-|50,000|-|50,000|
|vulnerable children in Buckinghamshire|||||
||─────|─────|─────|─────|
||10,404|74,880|(11,441)|73,843|
||═════|═════|═════|═════|



**Rothchild Foundation fund description -** The Rothschild Foundation grant was awarded for Covid-19 support to NHS staff and vulnerable children in Buckinghamshire. The Rothschild Foundation provided a grant of £50,000 in the year ended 31st March 2021. 

**NHS Charities Together fund description** – The NHS CT grant was also awarded for Covid-19 support to NHS staff and vulnerable children in Buckinghamshire. The NHS charities together fund provided a grant of £24,311 in the year ended 31st March 2022. 

**12** 



## **HorseHeard** 

## **Notes to the accounts (continued) for the year ended 31st March 2022** 

|**10.**|**Summary of Net Assets by Funds**||||
|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|
|||**Funds**|**Funds**|**Funds**|
|||**£**|**£**|**£**|
||**2022**||||
||Current Assets|22,248|50,319|72,567|
||Current Liabilities|(730)|(4,355)|(5,085)|
|||─────|─────|─────|
|||21,518|45,964|67,482|
|||═════|═════|═════|
|||**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|
|||═════|═════|═════|



**13** 



## **HorseHeard** 

## **Income and Expenditure Account for the year ended 31st March 2022** 

||**2022**||**2021**|||
|---|---|---|---|---|---|
|**Income**||||||
|Donations|1,966|||9,110||
|Equine Programmes|2,400|||17,200||
|Events refund|(225)|||(1,440)||
|Bank Interest|1|||10||
||─────|||─────||
||4,142|||24,880||
|Grants|24,311|||50,000||
||─────|||─────||
|Total income||28,453|||74,880|
|**Expenditure**||||||
|**Expenditure on raising funds**||||||
|Advertising and promotion|-|||120||
|Contracting – Business development|-|||1,900||
||─────|||─────||
||-|||2,020||
||─────|||─────||
|**Expenditure on charitable activities**||||||
|Project management|11,864|||-||
|Facilitator fees|9,266|||2,357||
|Venue fees|4,138|||600||
|Horse handler fees|276|||-||
|Equipment|392|||-||
|Honorarium|1,000|||2,930||
|Office costs|-|||417||
|Finance Admin|5,014|||-||
|Postage|3|||-||
|Web hosting|1,190|||688||
|Computer software|114|||114||
|Consultancy fees|-|||200||
|Insurance|957|||955||
|Bad debts written off|-|||200||
|Accountancy fees|600|||960||
||─────|||─────||
||34,814|||9,421||
||─────|||─────||
|Total expenditure||(34,814)|||(11,441)|
|||─────|||─────|
|**(Deficit)/surplus for the year**||(6,361)|||63,439|
|||═════|||═════|



**14**