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← Royal Artillery Saddle Club, Royal Artillery Barracks, Larkhill

2025-05-31-accounts

Charity registration number 1169361 (England and Wales)

ROYAL ARTILLERY SADDLE CLUB

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

ROYAL ARTILLERY SADDLE CLUB

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Capt J Gregg
Major A Hereford Lewis
Major B P Murphy
Lt Col J A Luck
A Cameron MBE
Major K King (Appointed 18 September
2024)
Major F L S Medlycott (Appointed 4 November 2025)
Lt Col D W Luck RA (Appointed 6 February 2026)
Major M W Duffy RAMS (Appointed 4 November 2025)
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 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 14

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MAY 2025

The Trustees present their annual report and financial statements for the year ended 31 May 2025.

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:

Ms S Zoryk (Resigned 11 December 2024)
Capt J Gregg
Major A Hereford Lewis
Major B P Murphy
Mr S C Chalker (Resigned 5 November 2024)
Lt Col J A Luck
Mr M V Smith (Resigned 31 March 2025)
Lt Col A E Ball (Resigned 20 April 2025)
Captain H Walker (Resigned 18 September 2024)
A Cameron MBE
Major C Blakiston (Resigned 24 May 2025)
Major K King (Appointed 18 September 2024)
Major F L S Medlycott (Appointed 4 November 2025)
Lt Col D W Luck RA (Appointed 6 February 2026)
Major M W Duffy RAMS (Appointed 4 November 2025)

Trustees can be nominated at Trustees meetings and require a minimum of 5 trustees (or 100% if less than 5 trustees) to agree and approve the appointment. The same applies for the appointment of trustees to the key roles of Chair, Treasurer, and Secretary.

Trustee length of service:

a. Trustees can serve a maximum of 3 years before mandatory re-application and approval to continue for another term.

b. With a maximum of no more than 3 consecutive terms (9 years)

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 meet quarterly with a managing committee meeting more regularly to action more immediate issues. This management committee comprises the Stables Officer, Yard Manager, Treasurer and Deputy Chair.

This year the Trustees voted to proceed with the establishment of an Incorporated Charity which, once set up, will replace and supersede the existing unincorporated charity. Wilson Solicitors (Salisbury) are assisting in this process.

As part of this process the Governing document is being amended along with the objects.

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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 Army 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, though members of the Royal Artillery receive priority where possible. 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 continued to expand its military Regimental Clinics to other cap badges with attendance and bookings from the Intelligence Corps, Royal Logistics Corp, Royal Signals, Royal Army Medical Corp, General Service Corps, Infantry, Royal Signals, the Royal Engineers and units of the Royal Air Force.

Relationships with other local equestrian groups such as Larkhill Eventing and The Royal Artillery Pony Club, continue to expand our offer of activities to our clients.

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.

This year we commenced an Apprenticeship Training Scheme and currently have two young person’s working towards NVQ Level 2 and Level 3 qualifications.

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 2025.

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

This year we received a £147,000 grant funding from the Royal Artillery which has been used to resurface the outdoor arena, rewire the stables and barn areas, upgrade fencing, tracks and turn out arena. The Saddle Club also received grants for new arena x-country jumps.

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.

ROYAL ARTILLERY SADDLE CLUB

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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 is planning to move to Charitable incorporated organisation (CIO) in 2025 to reduce the liability against trustees and to update the charter and objects to allow greater flexibility in the services the organisation can offer. The transition to a CIO is under merger accounting, this involves aggregating the assets, liabilities and funds of the combining charities and presenting them as though they had always been part of the same reporting charity.

This transition will mark the end of the “Business Development” phase embarked on in Dec 2023 which has successfully revitalised the charity and its services. It is estimated that transition to CIO status will occur in early 2026.

We will 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.

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

Lt Col A E Ball Treasurer and Vice Chair

26 March 2026

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 2025.

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.

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 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: 26 March 2026

ROYAL ARTILLERY SADDLE CLUB

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income and endowments from:
Donations and legacies 2 150,405 2,048
Charitable activities 3 251,974 196,640
Other trading activities 4 57,743 52,396
Other income 5 4,350 3,100
Total income 464,472 254,184
Expenditure on:
Charitable activities 6 418,049 270,056
Other expenditure 11 - (1,300)
Total expenditure 418,049 268,756
Net income/(expenditure) and movement in funds 46,423 (14,572)
Reconciliation of funds:
Fund balances at 1 June 2024 18,826 33,398
Fund balances at 31 May 2025 65,249 18,826

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 2025

2025
Notes
£
Fixed assets
Tangible assets
13
Current assets
Debtors
14
15,187
Cash at bank and in hand
23,408
38,595
Creditors: amounts falling due within
one year
15
(20,047)
Net current assets/(liabilities)
Total assets less current liabilities
The funds of the charity
Unrestricted funds
16		 2024
£
£
46,701
17,777
24,319
42,096
(43,219)
18,548
65,249
65,249
65,249		 £
19,949
(1,123)
18,826
18,826
18,826

The financial statements were approved by the Trustees on 26 March 2026

Lt Col A E Ball Treasurer and Vice Chair

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

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" 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)". 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 2025

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 2025

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 Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 405 2,048
Grants 150,000 -
150,405 2,048

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

2 Income from donations and legacies (Continued)
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Grants
Other 150,000 -
150,000 -
3 Charitable activities
Charitable
Charitable
Income Income
2025 2024
£ £
Horse hire 116,421 81,278
Stables 124,822 107,508
Hay and straw 10,731 7,854
251,974 196,640
4 Income from other trading activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Membership subscriptions 5,649 5,282
RASC competitions 16,514 11,088
Facility hire and clinics 35,580 36,026
Other trading activities 57,743 52,396

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

5 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net gain on disposal of horses 4,350 3,100
Net gain on disposal of tangible fixed assets 1,300 -
5,650 3,100

6 Expenditure on charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Direct costs
Staff costs 183,594 133,373
Depreciation and impairment 6,048 2,990
Office expenses 8,688 13,207
Instructor fees 9,937 7,933
Grounds maintenance 12,487 11,017
Transport and vehicle costs 4,563 14,940
Saddle fitting & repairs 1,187 1,257
Manure removal 4,320 3,840
Veterinary and farrier fees 27,789 22,932
Hard feed 6,032 7,088
Competitions 464 364
Equine products 1,665 1,326
Hay and straw 30,391 23,238
Fencing - 3,231
Building repairs 98,520 -
Other charitable expenditure 6,306 6,267
401,991 253,003
Share of support and governance costs (see note 7)
Governance 16,058 17,053
418,049 270,056
Analysis by fund
Unrestricted funds 418,049 270,056

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets		 2025
£
16,058
2025
£
11,452
1,990
2,116
500
16,058
2025
£
-
6,048
(4,350)		 2024
£
17,053
2024
£
9,513
2,700
840
4,000
17,053
2024
£
-
2,990
(4,400)

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:

Employment costs
Wages and salaries		 2025
Number
13
2025
£
144,103		 2024
Number
10
2024
£
110,701

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 2025

11 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets - (1,300)

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 2024
Additions
Disposals
At 31 May 2025
Depreciation and impairment
At 1 June 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 May 2025
Carrying amount
At 31 May 2025
At 31 May 2024
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Horses
Fixtures and
fittings
£
£
10,800
17,785
26,700
15,250
(9,500)
-
28,000
33,035
1,240
7,396
2,800
3,248
(350)
-
3,690
10,644
24,310
22,391
9,560
10,389
2025
£
15,187
-
15,187		 Total
£
28,585
41,950
(9,500)
61,035
8,636
6,048
(350)
14,334
46,701
19,949
2024
£
16,627
1,150
17,777

ROYAL ARTILLERY SADDLE CLUB

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2025
£
2,851
15,296
1,900
20,047		 2024
£
15,460
25,959
1,800
43,219

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
2024 resources expended 2025
£ £ £ £
General funds 18,826 464,472 (418,049) 65,249
Previous year: At 1 June Incoming Resources At 31 May
2023 resources expended 2024
£ £ £ £
General funds 33,398 254,184 (268,756) 18,826

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 until 1 December 2024, received payment for yard services supplied to the Charity totalling £29,600 (2024 - £19,266).