REGISTERED CHARITY NUMBER: 1170553
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
THEHORSECOURSE CIO
Barretts Chartered Accountants & Chartered Tax Advisers
22 Union Street Newton Abbot Devon TQ12 2JS
THEHORSECOURSE CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
THEHORSECOURSE CIO
REPORT OF THE TRUSTEES for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects
To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society by enhancing life skills of such people (a) through interaction with horses or (b) by advancing the education of such people and those supporting such people.
Strategic priorities
The following 6 strategic priorities have guided our activities since 2010. After 15 years of developing and testing our flagship equine-assisted intervention, the ReStart , we have completed a number of our original goals and can now move into a new phase focused on training and further innovation and research rather than ongoing service delivery. We have assessed progress on each strategic priority and refocused as follows:
1. Boldly Innovate
Develop effective behaviour-change programmes based on horse/human interactions.
-
Our flagship equine-assisted ReStart programme is now stable and proven
-
We have been working with Bournemouth and Bristol universities on innovative VR/Robotics systems as a means to tackle social exclusion at greater scale. This will now become a primary focus
2. Rigorously Test & Evidence
Participate in robust research and evaluation.
-
The equine-assisted ReStart programme has been subjected to numerous studies including large scale, controlled datasets showing significant benefits for youth outcomes and to reduce domestic violence. It now has a more compelling evidence base than most talk-based psychotherapies or other behaviour change programmes. This strong evidence underpins the funding and commissioning streams for those we train to replicate our service.
-
We will follow the same evaluation principles for our VR/Robotics projects.
3. Deliver Excellent Services
Provide effective services for socially excluded individuals where all else is failing.
-
With such a mature evidence base, we no longer need to run a service in order to demonstrate our programmes for academic scrutiny. Rather than continue to run our own service delivery centre, we shall now support those we have trained to provide face-to-face services in the UK and overseas. There are currently 12 centres in the UK and 4 overseas.
-
We were able to support a member of staff to set up a new TheHorseCourse approved centre in Weymouth, HorseWorks – taking on service delivery for our local community.
4. Generate Sustainable Income
Test and prove the market for our work, so that service delivery and replication are sustainable.
- Though funding is extremely difficult for all charities and services at present, our associated centres are able to compete for funding due to the excellent evidence base we have built to demonstrate the efficacy and cost-effectiveness of the equine-assisted ReStart programme
5. Replicate Carefully
Provide high quality training, materials and support to ensure faithful replication by independent practitioners.
- We will continue to train and support talented and committed individuals in the UK and overseas to deliver our equine-assisted programmes.
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THEHORSECOURSE CIO REPORT OF THE TRUSTEES for the Year Ended 31 March 2025
6. Freely Disseminate Knowledge and Skills
Share methodology, materials and learning.
-
We will continue to provide our Non-Verbals Toolbox Training as an online self-paced course. This teaches our speciality: recognising body language as a guide to emotions and using non-verbal strategies to improve calmness and engagement. It is accredited as CPD for support professionals in health and social care but is also useful for parents, business people and other adults. We offer this for free to all beneficiaries of our associated equineassisted centres, and for a small cost to the wider public. See www.thehorsecourse.org/training/non-verbals-course
-
We will continue to disseminate our knowledge through channels in the equine-assisted sector and more widely.
The decision to close our Weymouth service delivery centre required a complete restructure. We managed the transition successfully with all staff receiving proper redundancy payments and all animals carefully rehomed. Most of our ponies came from World Horse Welfare and, working in partnership with them, we were able to rehome them to our approved hubs around the UK. We were able to negotiate agreement with our landlords to terminate the lease for the Weymouth site. The centre closed on 13/9/2025, passing service delivery in Weymouth to a new TheHorseCourse approved hub, HorseWorks, and the charity continues now with a research and training focus. The financial statements represent a year which included service delivery, the restructure will be continue to be reflected in next year’s accounts.
Public benefit
In setting our objectives and planning our activities our trustees have given careful consideration to the Charity Commission's public benefit guidance.
Goals
We aim to train others to replicate our programmes geographically.
We aim to develop a Neuro-VR or other mass-scale version of our equine-assisted programme "ReStart" as a way to increase our reach and support those with mental health challenges worldwide, as described above.
ACHIEVEMENT AND PERFORMANCE
Over 80% of participants in our flagship ReStart programme are proven to improve psychosocial skills and long term outcomes such as engagement with education, training and work, better relationships, reduced problem behaviours, improved self belief. Furthermore, large-scale controlled studies show hard data reductions in domestic abuse and offending and improvements in youth outcomes.
Page 6
THEHORSECOURSE CIO REPORT OF THE TRUSTEES for the Year Ended 31 March 2025
FINANCIAL REVIEW
Principal funding sources
Principal funding sources for the year included:
Alex Roberts-Miller Foundation
Alice Ellen Cooper Dean Charitable Trust Dorset Council Grants Garfield Weston Foundation NHS Community Wellbeing and Mental Health Fund (Adults)
Pets Foundation
The National Lottery (RC) UK Youth - thriving minds Valentine Trust Worshipful Company of Loriners
Reserves policy
The trustees maintained reserves representing 3 months of operating costs throughout the year, in accordance with their reserves policy.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is controlled by its constitution which was adopted on 28 November 2016 and registered as a Charitable Incorporated Organisation (CIO) by the Charity Commission of England and Wales on 5 December 2016 to replace the previous organisation (1141654) which was registered as a charity by the Charity Commission of England and Wales on 3rd May 2011. The constitution was amended on 5th July 2019.
All assets of the previous charity registration (1141654) were vested in the CIO on 19 January 2017 and the CIO took over all the activities of the organisation from 1 April 2017. The board of trustees for both entities was the same at time of transfer. The previous charity ceased all activities at the same time and was wound up then formally dissolved on 18 May 2018.
Trustees are recruited in line with a Trustee Role Description and our Safer Recruitment Policy (including DBS check) and are given level 2 Safeguarding training.
Along with the organisation's suite of policies, Trustees maintain a Governance Policy and a Financial Policy specifically to guide their governance activities.
THC adheres to the Charity Governance Code, as supported by the Charity Commission.
Trustee roles
Justine Davie held special responsibility for Safeguarding at board level, liaising with the charity's designated Safeguarding Officer.
Liz Eaton FBHS held special responsibility for Health & Safety. She also had oversight of the interactions with equines. Rob Cole acted as Treasurer.
The charity is a member of Dorset Youth Association, is approved by Dorset Council and follows guidance from Dorset Safeguarding Board and National Youth Agency.
Page 6
THEHORSECOURSE CIO
REPORT OF THE TRUSTEES
for the Year Ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1170553
Principal address
Unit 4 Hounsell Building North Mills Trading Estate Bridport DT6 3BE
Trustees
Ms A Rose-Prynn Chair J Davie E A Eaton R Cole Treasurer S Lynch L J Cornell M R F Hirst M Porter (appointed 8/11/2024) R C Wilkin (retired 8/11/2024)
Independent Examiner
Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS 14/01/26 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Anna Rose-Prynn (Jan 14, 2026 13:29:44 GMT) ........................................................................
A Rose-Prynn – Chair of Trustees
Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THEHORSECOURSE CIO
Independent examiner's report to the trustees of TheHorseCourse CIO
I report to the charity trustees on my examination of the accounts of TheHorseCourse CIO (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ian Barrett
Signed: ~~……………………~~ Ian Barrett (Jan 16, 2026 09:24:20 GMT) …….
Ian Barrett FCA FCIE
Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS 16/01/26 Date: .............................................
Page 7
THEHORSECOURSE CIO
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| INCOME AND ENDOWMENTS FROM | Notes | £ | £ | £ | £ |
| Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Charity |
2 | 232,532 936 233,468 242,972 |
104,656 - 104,656 96,610 |
337,188 936 338,124 339,582 |
312,078 838 312,916 338,959 |
| NET INCOME/(EXPENDITURE) | (9,504) | 8,046 | (1,458) | (26,043 ) | |
| RECONCILIATION OF FUNDS | 113,186 | ||||
| Total funds brought forward | 50,349 | 36,794 | 87,143 | ||
| TOTAL FUNDS CARRIED FORWARD | 40,845 | 44,840 | 85,685 | 87,143 |
The notes form part of these financial statements
Page 8
THEHORSECOURSE CIO
BALANCE SHEET
31 March 2025
| Unrestricted | Restricted | 2025 Total |
2024 Total |
||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| FIXED ASSETS | Notes | £ | £ | £ | £ |
| Tangible assets | 5 | 6,389 | - | 6,389 | 7,702 |
| CURRENT ASSETS | 5,409 | ||||
| Debtors Cash at bank and in hand CREDITORS |
6 | 11,890 31,904 43,794 |
- 44,840 44,840 |
11,890 76,744 88,634 |
85,601 91,010 (11,569 ) |
| Amounts falling due within one year | 7 | (9,338) | - | (9,338) | |
| NET CURRENT ASSETS | 34,456 | 44,840 | 79,296 | 79,441 | |
| TOTAL ASSETS LESS CURRENT | 87,143 | ||||
| LIABILITIES | 40,845 | 44,840 | 85,685 | ||
| NET ASSETS | 40,845 | 44,840 | 85,685 | 87,143 | |
| FUNDS Unrestricted funds Restricted funds TOTAL FUNDS |
8 | 40,845 44,840 85,685 |
50,349 36,794 87,143 |
The financial statements were approved by the Board of Trustees and authorised for issue on 14/01/26 . .......................................... and were signed on its behalf by:
Anna Rose-Prynn (Jan 14, 2026 13:29:44 GMT)
............................................. A Rose-Prynn – Chair of Trustees
The notes form part of these financial statements
Page 9
THEHORSECOURSE CIO
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Motor vehicles - 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
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----- Start of picture text -----
||||
|---|---|---|
|2025|2024|
|£|£|
|Deposit account interest|936|838|
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continued...
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THEHORSECOURSE CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Restricted | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| £ | £ | £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Income | 240,154 | 71,924 | 312,078 | 312,078 | ||
| Investment income | 838 | - | 838 | 838 | ||
| Total | 240,992 | 71,924 | 312,916 | 312,916 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Charity | 272,829 | 66,130 | 338,959 | 338,959 | ||
| NET INCOME/(EXPENDITURE) | (31,837 ) | 5,794 | (26,043 ) | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 82,186 | 31,000 | 113,186 | 113,186 | ||
| TOTAL FUNDS CARRIED FORWARD | 50,349 | 36,794 | 87,143 | 87,143 | ||
| 5. | TANGIBLE FIXED ASSETS | |||||
| Fixtures | ||||||
| and | Motor | |||||
| fittings | vehicles | vehicles | Totals | |||
| £ | £ | £ | ||||
| COST | ||||||
| At 1 April 2024 | 31,648 | 22,395 | 54,043 | |||
| Additions | 2,709 | - | 2,709 | |||
| At 31 March 2025 | 34,357 | 22,395 | 56,752 | |||
| DEPRECIATION | ||||||
| At 1 April 2024 | 23,946 | 22,395 | 46,341 | |||
| Charge for year | 4,022 | - | 4,022 | |||
| At 31 March 2025 | 27,968 | 22,395 | 50,363 | |||
| NET BOOK VALUE | ||||||
| At 31 March 2025 | 6,389 | - | 6,389 | |||
| At 31 March 2024 | 7,702 | - | 7,702 |
continued...
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THEHORSECOURSE CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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----- Start of picture text -----
|||||
|---|---|---|---|
|2025|2024|
|£|£|
|Trade debtors|9,075|2,660|
|Prepayments and accrued income|2,815|2,749|
|11,890|5,409|
|7.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|2025|2024|
|£|£|
|Trade creditors|4,594|7,859|
|Other creditors|4,744|3,710|
|9,338|11,569|
|8.|MOVEMENT IN FUNDS|
|Net|
|movement|At|
|At 1.4.24|in funds|31.3.25|
|£|£|£|
|Unrestricted funds|
|General fund|50,349|(9,504)|40,845|
|Restricted funds|
|Pets at Home|22,332|-|22,332|
|Dorset Council Care Leavers|750|(750)|-|
|CAMHS Dorset|13,712|(13,712 )|-|
|National Lottery|-|22,508|22,508|
|36,794|8,046|44,840|
|TOTAL FUNDS|87,143|(1,458)|85,685|
|Net movement in funds, included in the above are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted funds|
|General fund|233,468|(242,972 )|(9,504)|
|Restricted funds|
|Pets at Home|38,284|(38,284 )|-|
|Dorset Council Care Leavers|-|(750)|(750)|
|CAMHS Dorset|-|(13,712 )|(13,712 )|
|National Lottery|66,372|(43,864 )|22,508|
|104,656|(96,610 )|8,046|
|TOTAL FUNDS|338,124|(339,582 )|(1,458)|
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continued...
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THEHORSECOURSE CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2025
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Pets at Home Dorset Council Care Leavers CAMHS Dorset TOTAL FUNDS |
At 1.4.23 £ 82,186 31,000 - - 31,000 113,186 |
Net movement in funds £ (31,837 ) (8,668) 750 13,712 5,794 (26,043 ) |
At 31.3.24 £ 50,349 22,332 750 13,712 |
|---|---|---|---|
| 36,794 | |||
| 87,143 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Pets at Home Dorset Council Care Leavers CAMHS Dorset TOTAL FUNDS |
Incoming resources £ 240,992 38,284 1,500 32,140 71,924 312,916 |
Resources expended £ Movement in funds £ (272,829 ) (31,837 ) (46,952 ) (8,668) (750) 750 (18,428 ) 13,712 (66,130 ) 5,794 (338,959 ) (26,043 ) |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 13
THEHORSECOURSE CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025
| INCOME AND ENDOWMENTS Income Course delivery fees Donations Grants Horse sponsorship Training fees Use of facilities and support Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Training and CPD Motor expenses Travel and subsistence Subscriptions Horse expenses and course consumables Other expenses Staff costs Facility hire Insurance Light and heat Telephone Postage and stationery Software Maintenance Marketing and publicity Improvements to leasehold premises Rates and water Research and Development Support costs Other 3 Fixtures and fittings Governance costs Accountancy and legal fees Carried forward |
2025 £ 64,395 10,529 259,061 2,184 1,019 - 337,188 936 338,124 3,927 3,163 1,484 955 14,636 5,103 247,973 37,102 2,726 2,192 2,066 175 2,235 7,053 1,430 - 318 - 332,538 4,022 3,000 3,000 |
2024 |
|---|---|---|
| £ | ||
| 48,213 | ||
| 8,457 | ||
| 233,845 | ||
| 3,643 | ||
| 2,220 | ||
| 15,700 | ||
| 312,078 | ||
| 838 | ||
| 312,916 | ||
| 2,227 | ||
| 2,545 | ||
| 476 | ||
| 751 | ||
| 11,974 | ||
| 3,317 | ||
| 255,037 | ||
| 37,753 | ||
| 2,406 | ||
| 2,144 | ||
| 2,080 | ||
| 27 | ||
| 1,875 | ||
| 3,386 | ||
| 110 | ||
| 3,833 | ||
| 789 | ||
| 206 | ||
| 330,936 | ||
| 3,871 | ||
| 4,140 | ||
| 4,140 |
This page does not form part of the statutory financial statements
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THEHORSECOURSE CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2025 |
|
|---|---|
| 2025 2024 |
|
| Governance costs | £ £ |
| Brought forward | 3,000 4,140 |
| Bank and credit card charges | 22 12 |
| 3,022 4,152 |
|
| Total resources expended | 339,582 338,959 |
| Net expenditure | (1,458) (26,043 ) |
This page does not form part of the statutory financial statements
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