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← Royal Artillery Saddle Club, Royal Artillery Barracks, Larkhill

2024-05-31-accounts

Charity registration number 1169361

ROYAL ARTILLERY SADDLE CLUB

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

ROYAL ARTILLERY SADDLE CLUB

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Gregg Capt A H Lewis Major B P Murphy Lt Col J A Luck (Appointed 24 November 2023) Mr M V Smith Lt Col A E Ball (Appointed 1 November 2023) Mr A H Cameron Major C Blakiston Ms K A King (Appointed 18 September 2024) Charity number 1169361 Office address Stirling Barracks Royal School of Artillery Larkhill Wiltshire SP4 8QT Independent examiner Moore (South) LLP 33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 2TJ

ROYAL ARTILLERY SADDLE CLUB

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 15

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MAY 2024

The Trustees present their annual report and financial statements for the year ended 31 May 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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)".

Structure, governance and management

The Royal Artillery Saddle Club was formed on 15 January 2013 and is regulated by a charter dated 9 February 2017.

The charity's objects are the promotion of efficiency of the Armed Forces of the Crown by the provision and support of facilities and activities for the efficiency and well-being of service personnel.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Lt Col Alec Harvey MBE (Resigned 26 February 2024)
Ms S Zoryk (Resigned 11 December 2024)
Mr J Gregg
Capt A H Lewis
Major B P Murphy
Mr S C Chalker (Resigned 5 November 2024)
Lt Col J A Luck (Appointed 24 November 2023)
Mr M V Smith
Lt Col A E Ball (Appointed 1 November 2023)
Captain H Walker (Resigned 18 September 2024)
Mr A H Cameron
Major C Blakiston
Ms K A King (Appointed 18 September 2024)

Trustees are recruited according to the knowledge and skills they are able to offer the Board, and also through their association with The Royal Regiment of Artillery.

The Charity’s day-to-day business is managed by the yard manager (who for this reporting year was also a trustee) and is co-ordinated by the other Trustees. The Trustees meet as needed to discuss the charity’s affairs.

The Trustees have identified their lack of training and arrangements have been put in place for them to attend relevant courses and seminars as appropriate to their role within the Charity.

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Objectives and activities

The Royal Artillery Saddle Club (Larkhill) [RASC(L)] is a charity which has been set up to help serving soldiers (incl. officers) to learn to horse ride and have access to equestrian facilities and events to support their welfare. The RASC(L) also provides a DIY livery service to service personnel and their dependants and the ability to provide full livery when soldiers are away on training or mobilised on operations. The RASC(L) offers riding lessons to children and adults to bring in funds to offset the upkeep of the horses and ponies.

This charity provides public benefit by assisting service personnel to perform their roles more effectively within the Armed Forces of the Crown. It does this through equitation. This assistance enables service personnel to better face the challenges and dangers associated with military service by developing and maintaining teamwork; skills; fitness; confidence, character, spirit, attitude; and morale. As a result, the charity promotes the efficiency of the Armed Forces of the Crown by enhancing the armed forces capability to undertake the roles demanded of it including the defence of the United Kingdom and its interests.

The RASC(L) has maintained its support to the armed forces community providing lessons to serving soldiers and officers located within the Salisbury Plain and wider areas. The Wednesday afternoon lessons have continued to be popular and the RASC(L) has become the centre for Army Grass roots and Intermediate Leagues which incorporate a wide range of cap-badges and is the entry level to Army Equestrian sport. The RASC(L) remains committed to the provision of livery services to serving military personnel from any cap-badge. The Saddle Club remains an extremely valuable welfare service to the local military community and wider civilian community who can also benefit from the services.

Achievements and performance

This year the RASC(L) has expanded its military Regimental Clinics to other cap badges with attendance and bookings from the Intelligence Corps, Royal Logistics Corp, Royal Signals, Army Medical Corps, General Service Corps, Infantry, Royal Signals, and the Royal Engineers.

We have developed our relationships with other local equestrian groups such as Larkhill Eventing and The Royal Artillery Pony Club, to expand our offer of activities to our clients, such as a cross country or One day Event competition.

We have broadened the number of visiting trainers and coaches to offer clinics in a wide range of equestrian disciplines such as Arena cross-country, dressage test riding with a British Dressage Listed Judge, and crosscountry training over the British Eventing course at Larkhill.

An increased number of lessons and hacks for both children and adults has energised the yard and riding activities take place most days of the week.

We have set up an Apprenticeship Training Scheme and currently have one young person working towards an NVQ Level 2 and Level 3 qualification. This will commence September 2024.

We have reviewed our current herd of riding school horses and ponies and started to replace some. This herd management will continue into the next reporting period.

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Financial review

The financial position of the charity is as disclosed in the Statement of Financial Activities and the Balance Sheet as of 31 May 2024.

The charity continues to have income from a variety of activities such as facility hire (instructors and infrastructure), riding tuition, livery, and events.

Overall, there is a net decrease in unrestricted funds of £14,572 (2023 - £9,430) resulting in total unrestricted funds at 31 May 2024 of £18,826 (2023 - £33,398).

COVID, an extended period of poor investment and poor governance has resulted in a lack of cash reserves and constrained growth. However, the new trustees and yard manager have injected new life into the charity and significant change has occurred in the second half of this reporting period. Applications for grant funding have been successful and these will take effect next reporting period.

Going concern

The Trustees conclude that there are no material uncertainties about the Charity’s ability to continue and accordingly the financial statements are prepared on a going concern basis. The Trustees monitor cash reserves to ensure they are meeting future spending levels.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between eight and twelve-month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained and the trustees have a 3-year plan to build these reserves whilst delivering core services.

Major risks

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The Charity are planning to increase the number of lessons taking place, to fully utilise the space available. This will involve dividing the outside arena in half, enabling two lessons to take place simultaneously.

The Charity will be increasing the services they offer to the DIY liveries, with a plan to offer flexible part-livery and full livery packages. This will be particularly useful to our serving military personnel to cover their horse care when they are deployed on exercise or operations. It is anticipated that this will involve the employment of an additional member of staff.

There will be put in place a more formal programme of staff training that will include the option of staff to work towards BHS Stages, the Career Pathway Skills qualifications.

Since the new management has been in post:

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

The Trustees' report was approved by the Board of Trustees.

.............................. Lt Col A E Ball Treasurer and Vice Chair Date: .............................................

ROYAL ARTILLERY SADDLE CLUB

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ROYAL ARTILLERY SADDLE CLUB

I report to the Trustees on my examination of the financial statements of Royal Artillery Saddle Club (the charity) for the year ended 31 May 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

I have completed my examination. I confirm that no 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 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 financial statements to be reached.

R MacDonald Moore (South) LLP

33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 2TJ

Dated: .........................

ROYAL ARTILLERY SADDLE CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2024

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2024
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
2
2,048
5,305
13,500
Charitable activities
3
196,640
146,164
-
Other trading activities
4
52,396
19,303
-
Other income
5
3,100
2,450
-
Total income
254,184
173,222
13,500
Expenditure on:
Charitable activities
6
270,056
183,552
15,215
Other expenditure
11
(1,300)
(900)
-
Total expenditure
268,756
182,652
15,215
Net expenditure and movement in funds
(14,572)
(9,430)
(1,715)
Reconciliation of funds:
Fund balances at 1 June 2023
33,398
42,828
1,715
Fund balances at 31 May 2024
18,826
33,398
-		 Total
2023
£
18,805
146,164
19,303
2,450
186,722
198,767
(900)
197,867
(11,145)
44,543
33,398

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ROYAL ARTILLERY SADDLE CLUB

BALANCE SHEET

AS AT 31 MAY 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 19,949 19,939
Current assets
Debtors 14 17,777 11,833
Cash at bank and in hand 24,319 21,753
42,096 33,586
Creditors: amounts falling due within 15
one year (43,219) (20,127)
Net current (liabilities)/assets (1,123) 13,459
Total assets less current liabilities 18,826 33,398
The funds of the charity
Unrestricted funds 16 18,826 33,398
18,826 33,398

26/03/25 The financial statements were approved by the Trustees on .........................

hlin Sat

.............................. Lt Col A E Ball Treasurer and Vice Chair

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

Charity information

Royal Artillery Saddle Club is an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of period of one year from the date of approval of the financial statements. The Trustees conclude that there are no material uncertainties about the Charity’s ability to continue and accordingly the financial statements are prepared on a going concern basis. They have come to this conclusion by assessing the current level of reserves; working capital requirements and anticipated commitments.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Horses 10% straight line Fixtures and fittings 10% straight line Computers 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
2,048
-
Grants
-
-
2,048
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
2,048
305
-
-
5,000
13,500
2,048
5,305
13,500		 Total
2023
£
305
18,500
18,805

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

2
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Grants
Royal Artillery
-
-
Royal Army Educational
Corps
-
-
-
-		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
(Continued)
-
-
13,500
13,500
-
5,000
-
5,000
-
5,000
13,500
18,500		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
(Continued)
-
-
13,500
13,500
-
5,000
-
5,000
-
5,000
13,500
18,500
18,500

3 Charitable activities

Charitable Charitable
Income Income
2024 2023
£ £
Horse hire 81,278 63,907
Stables 107,508 72,673
Hay and straw 7,854 9,584
196,640 146,164

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Membership subscriptions 5,282 3,840
RASC competitions 11,088 2,614
Facility hire and clinics 36,026 12,484
Other income - 365
Other trading activities 52,396 19,303

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

5 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of horses 3,100 2,450
Net gain on disposal of tangible fixed assets 1,300 -
4,400 2,450

6 Expenditure on charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Direct costs
Staff costs 133,373 93,126
Depreciation and impairment 2,990 2,986
Office expenses 13,207 3,786
Instructor fees 7,933 2,375
Grounds maintenance 11,017 10,676
Transport and vehicle costs 14,940 3,920
Saddle fitting & repairs 1,257 10
Manure removal 3,840 960
Veterinary and farrier fees 22,932 13,517
Hard feed 7,088 6,256
Competitions 364 287
Equine products 1,326 963
Hay and straw 23,238 28,346
Fencing 3,231 16,833
Other charitable expenditure 6,267 4,959
253,003 189,000
Share of support and governance costs (see note 7)
Governance 17,053 9,767
270,056 198,767
Analysis by fund
Unrestricted funds 270,056 183,552
Restricted funds - 15,215
270,056 198,767

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

7 Support costs allocated to activities

7
Support costs allocated to activities
Governance costs
Governance costs comprise:
Insurance
Accountancy
Legal and professional
Pension regulator fees
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets		 2024
£
17,053
2024
£
9,513
2,700
840
4,000
17,053
2024
£
2,990
(4,400)		 2023
£
9,767
2023
£
8,267
1,500
-
-
9,767
2023
£
2,986
(3,350)

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
10 10
Employment costs 2024 2023
£ £
Wages and salaries 110,701 93,126

There were no employees whose annual remuneration was more than £60,000.

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

11 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net loss on disposal of tangible fixed assets (1,300) (900)

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Cost
At 1 June 2023
Additions
Disposals
At 31 May 2024
Depreciation and impairment
At 1 June 2023
Depreciation charged in the year
Eliminated in respect of disposals
At 31 May 2024
Carrying amount
At 31 May 2024
At 31 May 2023
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Horses
Fixtures and
fittings
Computers
Total
£
£
£
£
4,800
23,232
553
28,585
10,000
-
-
10,000
(4,000)
(6,000)
-
(10,000)
10,800
17,232
553
28,585
1,360
6,920
366
8,646
1,080
1,723
187
2,990
(1,200)
(1,800)
-
(3,000)
1,240
6,843
553
8,636
9,560
10,389
-
19,949
3,440
16,312
187
19,939
2024
2023
£
£
16,627
11,833
1,150
-
17,777
11,833

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
15,460
25,959
-
1,800
43,219		 2023
£
14,613
572
442
4,500
20,127

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June Incoming Resources At 31 May
2023 resources expended 2024
£ £ £ £
General funds 33,398 254,184 (268,756) 18,826
Previous year: At 1 June Incoming Resources At 31 May
2022 resources expended 2023
£ £ £ £
General funds 42,828 173,222 (182,652) 33,398

17 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

S Zoryk, a trustee of the charity, received payment for yard services supplied to the Charity totalling £19,266 (2023 - £Nil).