COMPANY REGISTRATION NUMBER: 08687994 CHARfry REGISTRATION NUMBER: 1176409 Summerfield Stables-Horses in the Community Company Limited by Guarantee Unaudited Financial Statements 30 September 2024
Summerfield Stables-Horses in tho Community Company Llmltsd by Guarantee Flnanclal Statemonts Year endad 30 September 2024 Page Trustee8' annual report (incorporating the directorfs report) Independent examiners report to the trustees Statement of financial actlvities (including income and expenditure account) ststement of financial position Notes to the financial 8tatsments The followlng pages do not fonn part of the financlal 8tat•ments Detailed statement of financial acliviti88 18 Notes to the detailed statement of financial activities 20
Summerfield Stables-Horses in the Community Company Llmlted by Guarantse Trustee8' Annual Report (Incorporating the Dlr•¢torfs Report Year ondgd 30 September 2024 The tru$t6e5, WI are also direckns the purpos05 of company l•w, present their report and the unaudlted finanaal ststemonts ofthe charity ftjr year ended 30 Sepleml)or 2024. Obfvctlv¢• and a¢tlvhle• Abo Summ•rflold Stabl Summerfield Stsbles Is a communty group that has been tashed over forty-three years. Its aim is to encourage chlldren and young peoplè In the Yardley area of &'nningham to understand and Interact horses. Tho stables were stsrted by Roslyn Ted&UThvin tn June 1969 when she d$ 21. Slnce that flme It has been serrfing the thal communty and has provlded rnany opportunltlos for children and adults allke. The young people who vlslt the Slables are mosty b8tsveen the ages of $en and fifteen and come from the surrourKliTrJ areas, Induding Yardley Vknd, Hall Green, Balsall Heath. Kings Heath and Bille81ey. We patticulaty encourage chIren ¥tho have disabilbties, both physFcal and mental as wall as young people who have had behavloural Issues. Sm of our young peoplg are not In maln8tream school and we welcome looked-after children and adopted children. On Docember 20th 2017 Summerfeld Stables achw•J Tegb8tered charity $tatu8. Although no longer tnjstee. RoSn Tedd-UThvln still remains a very imwtant figure In the day to day running of the Stables and ha5 an important In decis)n$ invofvlng hrKse welfare. The ¢ommlttee 18 extremèly gratelul lor her contritsjtion to the stables for over 45 years and for her continulng conlrlbutson th1$ year. Two truste88 who had bwn wlth us since November 2017, Jennrfer D181ey-JongJ and Cheryl Fox.Barrett, resigned on 10 May and worn rtpkced by two ones Ilhan and Eleanor Seaton on the sam8 date. Vrfe belleve that Interactlng and engaging T*lth hcrfses w0deS a unue experfence for young people. which helps to bulbj their confidence and future aspiralh)ns. Horse ridlng and care develop youn9 people's tranSferrab skilL8 whth 1$ essential for many y¢)ung peopk who may otherwlse leave school without essentlal skills whb¢h they need for the workpLace and soclety In general. Encouraging young people to volunteer 15 important a8 this may bewTh a interest which wlll help strengthen our communill•s for future. Purpo•• To re4chool and re-train rescue horsts in order to use them to enabFe m&mbers of Ihe communlty In thè surroundiw area lo have access to horne riding and related activities with a particular focus on access for those sufferfng dlsabilty or dlsadvantage.
Summerfield Stables-Horses In the Community Company Llm5tod by Guarantee Trusts•$' Annual Report (Incorporatlng the DIrecto8 Report) {¢onllftuetsJ Year ended 30 September 2024 ObtIV•¢ and actMtI•8 (thMllnu8dJ Alm• To promote any charltabla purpo8e8 for tr benefit ol the communlty in thé area of Blmilngham and It8 8UTrounding district {"the area of benefir'i.. In particular, to provk1e facllltles advice and guldance to enable memb&rs of the communlty withlr) the area of benefit to have the Ghar¢ce of horse rldlng and assoclaled Skills,. In partkular to provlde a servlce whlch15 Intended lo make rldlng and assoclated skills avallable to people who becausa of disabilities or disadvantsge suffered by them would have not been able to ride., lo provlde such services where approprfate at a reduced cost or no Cost at all: to Improve the welfare of equlnes by rescue and rehabllilalion. Publlc Bonafft We have referred to the guldance contalned In the Charlty Commis85on's general guldance on publlc benefll when revlewlng our aims and obj8ctiv8s and in plannlng our future 8Ctlvitles. A¢hlov•m•nts and p0rformanc• To provldo fa¢llltlo•. advlc• and gtsldanee to •n•bl• m•mb•f• of th• ¢ommunlty wlthln th• ar•a of bonofft to havo th• chanc• of horn? rldlng and a••ocl•t•d •klll•. Thls year wa8 our first complete year runnlng from 81tes, at both Hall Green and Solihull. Our Sollhull Slte enabled our voluntaer8 to engage In regular tralnlng 8esslons for dders at Stage 2 level and above. It has alk)wed many young people to engage In compelltlon8 In Dre8S8ge, Show Jumping and also Evenung. This has been an amazlng experfence for so many young people who othe180 would not get thls opportunlty. Th1$ year has a180 been one of leamlng of how to make thése sessions acce8slble to young people and volunleers who access our stables. as although only 20 mlnutes away, thi$ pr88ents a logistlcal problem for those who do rbot ddve or for parents are not able to transport them. The costs of competitlons have also been prohlblllve to some, and we have supported young peop18 to volunteor at Solihull Rldlng Club In exchange for vouchers that can covér their enty fee for compalitions. After an extremely muddy wlnt?r, more work wa8 done lo Improve gateways and at Solihull we troalled the maklng of an all-weather lumoul area and a lunge pen. Both proved successiljl over the winter n)nths, and we wlll look to make slmilar improvement8 at Summerfield in the future. The focus at Summarfeld was general maintenance worK partlcularly in the gateways and pathways once the winter mud had drled up. The number of riders havlng weekly sesslons with u8 has Stab11188d and 18 at capacity desplte the expanslon of our openlng hours to 8.00pm. There were some polnts where capacity was not complete fvll due to staff ill-health and tha waillng list increased to over 600 people. Duo lo this a declsion to close the walling list was made as managlng •xpectalions becamo more difficult and rtders were wailing 8round years for a place. This waillng Ilst is beyond the Ilmit of both sites at full capa¢lty and adminlstralion became extremely difficult. For thls reason we have continued our work 8Wltching over to the system of ECPro to complete online booklngs and manage payments. This has been a lengthy process, but the hope is that by becomlng more automatsd less time will evenlualty be spent on administratlon which was overwhelming staff.
Summerfield Stables-Horses in the Community Company Limtt•d by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (condnuedj Year ended 30 September 2024 Achlevements and perfornunco (conllnu•dJ In partlcular to provlde a setvl¢o whleh Is Intended to mako rldlng and a6soclal8d skllls avallable to peoph who becau$0 of dlsabllltl•$ or d18advantago suffered by them would hav• not bgen ablo to rld•. This year ha5 seen an Increased enrolment in our provision of the Changing Llves through Horses {CLIH) program. CLtH Is especially developed to support the provision for young people at risk of exclusion, as it is in line with the National Curriculum and so will CompMent their school provision. We have been met with huge demand for this provision from local schools and we have offered many different programs for a varfety of young people of all ages and ability. An important part of our work on accessibility has become ralslng the visibility of diversity within horse riding and horse care. We have again taken advantage of many photo opportunities with the BHS and with Brltish Equestrian we took part In the filming of several vkleos wlth the aim of showc4$ing some of the diverslty wlthln equestrian spot. The horses for all research completed by British Equestrian in 2023 showed the importance for the visibility of minorfty groups In the sport and we a so pleased that these videos are an important part of this work Levs Enable CIC have continued to hire our premises and horses th18 year to enable the provision of more specTalised servlces for those wilh complex needs. This allgns with our aims of increasing accessibility to horses as we had a large numter of young people on our walting list in need of more specialised services which we do not currenty have the staffing for. Levs Enable have delivered one to one and small group pony care sesstons at Summerfield but also offer a mobile servtce which visits schools and day centres in the local area. Our pony days have again been In huge demar)d and our 'pat a pony sessions, have boen continued to be fully booked out each tlme we have run them and all¢)w many families. who othe1$e woukl not get thi$ opportunity, the chance to interact with horses. We have 81s0 run parties for Eld and carol singing at Christmas. All these events have helped horses to be more visible In Ihe community. Our Summer Camp at Solihull R*Jing Club was again very successful. For neady weeks we ran camps back-lTrback to allow a range of young people to a¢¢ess the range of facilities for all disciplines from Dressage to Cross County. The Camps are important, not just for the riding skllls for young people but aLso their Soclal and emotional development and we have done our best to keep them at a£ low a ¢ost a5 possible despite a more expensive venue. As well as camps we have provlded the opportunities for young people to attend Horse Shows at Kings Heath Horse show, online competitions and even the Natlonal Riding School championship at Pickerlng Grange where we won four of the nine national categorfes. Many of our children have been engaged In activities relating to horse and pony racing this year wlth three older teenagers being awarded scholarships to the 'riding a dream academy, givlng them a yeals scholarship to train to ride racehorses. This 15 an excellent opportunity for young people who wlsh to work withln the equine irKluslry and Its focus in on young people from Under-rep$ented groups. Many other young people took part in week-long scholarship sessions at Newmarket which were free to all who took part We also received free tickets to Badminton horse trials which wa5 an incredible expeanCe for the young people who look part and We treated to a course walk of the XC course. All of thi$ has helped to raise aspirat$ in our older riders and help them to aim towards positive outcomes either in temis of an equestrian career. more qualifications at a higher level or riding recreationally.
Summerfield Stsbles-Horses in the Community Company Llmited by Guarantee Trustee8' Annual Report (Incorporating the Directorfs Report) (willnu•dJ Year ended 30 Sept•mber 2024 Achlevement8 and porfomiance f¢onthu•dJ To provldo such •ervlc•8 whwe approprf•tO at * r¢dud ¢1 or no cogt at all. This year we have done our best to keep prlces at a low level and dld not yot raise prrces. This was mostly due io the huge financlal constraint so many of those who use tho stables have been struggling with. It is clear that this wlll not be Sustainable In the future so unfortunately. w8 anticipate a price rise In the year ahead as even with the help of Ecpro, the rislng costs ol upkeep for the stables rose sub5tanlialty in the latter part of the year. Unfortunately, many of our key funders have b8en unable to lund our work thls year and this helghtened the financial constraints the chaflty has faced. Ive continued to develop the Changlng Llves through Horses program through the Brftlsh Horsè Society. as this is funded by Schools through a young person's EHCP and 80 wlll not be an extra cost to the parent. We have run both one-twne and group sesslons for young people and th1$ has enabled many youn9 people to particlpate In horse care and rfding sesslons who would Othe5$ be unable to do so. We have had several successe8 already within the Changlng LNes through Horses scheme which has helpod young people lo re-engage wlth educatlon and In 8waral cases move back Into full tlme educatlon. To ImpMv• the welf•r• ol •quln•8 by I•u• and r•habllllatlon Th18 year we welcomed one now equlne to Join our team at Summeffléld, 88 Loia joined us on loan from her ownèr due lo her belng outgrown. Lola has been loaned out as a rldlng club pony, but she has not been 5ullable In her current role due to hèr tdcky behavlour bjth on the ground and when ridden. Sh8 has settled well Into rfding school Ilfe and Is already b8Gomlng more settled Into her new role. Many of our equlnes have 81eadi8d down over the past few years and our older equines are doing le$$ and 1888 work with Ilgh18r riders. Thls is excellent for their h8allh, but the decreased workload has meant our equlne workforce Is gradualty bo¢omlng less efficlent a8 our older horses do have higher n88d8 In term$ of more Speciallsed food and veterlnary treatm8nl. Havlng sald thi8 our hor8e8 Still have a huge ¢ontrIbUOn to make to our organlsauon as they are often the most rellable mounts for chlldren with SEN or as a calmer pony lor many chlldron'8 first lessons. This year we have conllnued to bulld on our exam Succe8$ and have held many tsxa at Stage 1, 2 and 3 level wlth an excellent sucxess rate. INe are developing our site at Sollhull and the trainlng of the horses In order to be able run the slage 2 and 3 rlde exams and th8 stage 3 teach èxam al Sollhull Rldlng Club In the near fLtlur8. Ag8ln, many of our rlders benefitted from the tralnlng voucher scheme whlch was rolled out by the Brlllsh Horse Society and was a blg step In making trainlng towards BHS exams more affordable for young pèople. the work of the BHS and the Pony Club havlng a blg focus on equine wellare the increase in the availability of exam5 and the Iralnlng will have a posltive Impact on horse welfarn for years to come. Thls year we continued to work to Improve the welfar& ol horses in our car& by providlng the larrfery, vetednary, d8nUsty and chiropracllc trea1ffnts that they needed lo stay in good health, and this was 8UPPOrted by the People's Postcode Lottery 9ranL Several of our horses went on training holtdays with our saddle-fitter and also wlth an evont rfder lo help Improve thelr schooling or with their rehabilitatlon. We have agaln sponl a considerable amount on new saddles and saddle fltting to ensure each horse 1$ comfortable and has a saddle which wlll be abl8 to be adapted lo fit Ihem whenever they change in slze. Rtsk• The Iruslees are aware of the rlsks connected wlth operating a charity involvlng animals and providing ser¥l¢e5 to children and other vulnerable peop. All risks are kept under review Indudlng ¢)p8rational and fina181 and equ811y applyin9 to 8t8ff and serwlce users.
Summerfield Stables-Horses in the Community Company Llmited by Guarantee Trustse8' Annual Report (Incorporatlng the Dlrector's Report) fconthu•dJ Y•ar ended 30 Sept•mber 2024 Flnanclal revl•w The gross incomlng resources for th8 perk)d were £184,034 12023: £198,177), conslsllng m81nty of feesldonations for rfdlng. grants of £30,884 (2023.. £41,103) and general donations of £1,61012023: £5,388). Income from hlring out fa¢lliti&s and horses lo Lef$ Enab CIC was £9,532 {2023'. £2.345). Whero grants are recelved towards specific actlviti85 such as hollday activities and con1bLrt1onS towards apprentices, salar18s, these are considered part of the general activil¢es of the Charity and as such hava been recorded as unreslricted. In 2023 we received donatlons of £3.500 towards the PLsrchase of new horses. These were treated a8 unrestricted as th8 fvnds wer8 fully 8xpended In the year. The maln grnnt recefved during the yearwas £25,000 from People's PoStde Lottary. Total expenses were £195,87512023.' £182,127}. Major components of thls are staff costs £74,746. feed arKI welfare costs £46,721 and maintenanc8llmprovem8nt of faciliiies and equlpment £28,207. As noted above all monles have been treated as unreslrlGted as being part of th& ¢hartVs maln actlvitles. Th8r8 were no restrtcted reserves brought fOard and consequently none rrIed fopNard at 30 September 2024. The net result wa8 a deficlt for the yoar of £11,84112023: 8urplu8 £16,050). This has been deducted from g8n6ral r886rv•8. Fro0 resetve8 le excludlng capital Items wern In defklt by £16,327 (2023,. defl¢ll of £9,820) No reserves pollcy ha8 yel been eslablished. Tho trustees have a number ol alms for growth and therefore It Is unllkely that any slgnificanl free ras?rves wlll be bulll up In th& n8ar future as 811 monles wlll be sponL At the balan¢0 sheet dato the charlty had net a88ets of £93,751. Thls Include8 a truste8 loan of £3.127 (2023.. £1,927). Thern Is also a loan from Roslyn Tedd-Up•vln of £7,000 (2023.. £3,0500). 80th are repayable on demand but both partles have confirmed that they wlll not seek repayment of the balance untll the charlty Is In a suftklently stable Ilnanclal po81ti0n. Structur•i gov?manc0 and manag•m•nt The Chadty Is a company limited by guarantee. Day to day control is exerclsed by G Urwln wlth tho body of tNsl8es meellng on a iegubr bas18, The ¢ompany became a reglstered Charlty on 20 December 2017. Although Summerfield Stables has exlsted for many years It was only Incorporated In Septembor 2013 8nd actlvltles were transferred to tho company in February 2014.
Summerfield Stsbles-Horses in the Community Company Limited by Guarantee Tru8ta•$' Annual Report (Incorporating th• Directorfs Report) (ct>nthu8d) Year ended 30 S•ptomber 2024 R•f•renc• and admlnl8trnllv• detall• R•glstered charfty namo Charlty rngl•tratlon numb•r Sumnwffield Stsb185-How In the Comunlty 1176409 Company rog1•trath numb•r 08687994 Prlnclp•l ollk• and r•gl•tsrnl 18 Staplehurnt Road offlce Hall Green Binningham 828 9AS Tho tru8t••• G uryn C Fox-Barrett J Dbsley-Jones EJ Holn (Retired 10 May 20251 (Rglired 10 May 20251 (Appointed 10 May 20251 (Apwinted 10 May 2025) EG Seaton Ind•p•nd•nt •x•mln•r Davkl Seeley FCA Accuo Accounting LIKlad Chartered P£countants Ajvechurch Blrmingham B48 7JX Sm411 ¢omp•ny provl•lo Thls report has been prepared In ac¢¢ydanco wlth Ihe prmlons applkable to companles anted to the Small companies exemption. The trusteos, annual rnport was apwoved on 26 June 2025 and sWJnad t)n behalf of the board of tnJ8tees by: G UNAn Trustee
Summerfield Stsbles-Horses in the Community Company Limlted by Guarantee Independènt Examlnerfs Report to the Trustees of Summerfield Stables41ors in the Communlty Year ended 30 Septembor 2024 l port to the trustees on my examination of the financol ststements of suMfferfd Stables-Horses In the Community (Ihe tharity'l lor the year ended 30 Septerntw 2024. Respon•ibililles and ba8ls of ieport As the trustees of the company (and also its dir¥tots for the purposes of rnPany law) you a responsible for the preparation ol the finarKial ststeffthts in XCOrdan wbth the requwements of the Companies Act 2006 ('the 20Cffj Arfl. Having satlsfied myself that the accounts of ts (x)mpany rUired to b8 arted under Part 16 of the 2006 Act and are eligible for independent examination, I rep)rt in re8t of my examination of the chaiity's accounts as carried out under section 145 of the Charrbes AGt 2011 (the 2011 AcV}. In Carrying out my examination I have folbywed the Direclion$ gtven by the Charity Comm[$$)n under se¢llon 145(51{bl of the 2011 A¢L Independent •xamlnorf8 statème I have complebj my eXaMinan. l that no matters have come to my attents'on in connection with the examination giving me cause to believe: a¢¢ounting records not kept in respect of ttle tharity as required by se¢tlon 386 of the 2006 Art or the financlat statements do not ac(yxd wlh those reCd5. or the finanal statements do not comply with the *counting requirements of section 396 of the 2006 Act other than any requirement that the accounts gr4e a and faie view which is not a matter consNlered as part of an independent examination: or the financial staterrts have not been prepared in accordance with the metlKth and principles of the Statement of ReMfflended PraclKe for accounting and reporting by charibes applicable to charibes preparing tr1r a¢counts in aCcdanCe th Financial Reptyting Standard applicabk in the UK and Republic of Ireland IFRS 102). I have no concems and have come xross no other tterS in conne¢tion with the examinatton to which attention shtyjld be drawn in this report in order b enab a proper understanding of the ac¢ounts to be reached. David Seeky FCA Independent Examlner Accuo Accounting knmiled Chartered knounlants Alvechur¢h Birmingham 848 7JX Ik161qfj52
Summerfield Stables-Hor3es in the Community Company Limlted by Guarants• Statemant of Flnancial ActivitEes (including income and eXnditUre account) Year •nd•d 30 Septembor 2024 2024 Unrestricted fvnds Total lund• Total funds 2023 Donations and lega¢ies Other trading activll*s Total In¢om• 32,494 151.540 184.034 32A94 151,540 184,034 49.991 148,188 198.177 Exp8ndlluM Expendllure on charitable actlvitie8 Total •xp•ndltur• 7M 195,875 196,875 182,127 195.875 195,876 182,127 N•t {•xp•ndltur•)nncom• and not movwmnt In lund• (11.841) 16,050 Reconclllallon ol funds Total funds brought forward Totsl lund• ¢arrl•d forward 105,592 105.692 89,542 93,751 93,761 105,592 The statement of financlab actrrfitses Includes dl gains aThl10888s rocoqnl8ed in the year. All Inwme and expendlture d1 from witinuiNJ acts¥iUe•.
Summerfield Stables-Horses in the Community Company Limited by Guarante• Ststsment of Finan¢ial Position 30 Septomber 2024 2024 2023 Flxed a88ets Tangible red assets 14 110.078 115.412 Current aets Cash al bank and in hand 5,537 Cr1¢0. amounts falllng duo wlthkn on• year Net Current Ilabllltlos 1S 23.767 15,357 16.3ZI 93.751 93.751 9,820 105.592 105,592 Total a86ets189s ¢urr•nt Ilabllftles Net assets Fund8 of thé charlty Unrestrtcted fvnds 93,751 93.751 105,592 105.592 Total charlty fund8 17 For the year ending 30 September 2024 the Charity was enliiled to exerwtion from audit under section 477 of the Companies Act 2006 relaling to SffAII companies. Directors. respsibilitIeS.. The members have nol required the compary to obtain an alIt of its financial statements for the year in question in accordance with seclion 476: The directors acknowledge iheir resrMMsibilrfies fDr corytying with the requirements of the Act with respect to aOunting records arKI Ihe preparation of financial staterrnts. These financial statements have been prepared in a)rd with the provisions applrcable to companies subject to the small companies. wme. These finan¢iai statements were approved by the board of trustees and authorfsed for Issu& on 26 June 2025, and are Signed on behalf ofthe t#)ard by: G Ujwn Trustee
Summerfield Stsbles-Horses in the Community Company Limited by Guarantsfr Notes to the Financlal Statements Year ended 30 September 2024 Goneral Inlonnation The charity is a pUbr benefft entity aThJ a private company Ilmltad ty guarantee. registered in ETrJland and Wales and a wkstewed charity in England and VUes. The address of the registered office is 18 Stsplthurst Ro, Hall GTren. BirniiThJham, 828 9AS. statem of compllan These financial sfateffts have been prepared In oJnplian¢• with FRS 102, The Financial Reporting Standard applicable in the UK and the Republk of Ireknd. the Statement of RecommerKled Practice aPplue to ChaeS preparing their 0nts in accordance with the Financial Reporting Standard applicable in the UK Repu of Iteland (FRS 102) (Charities SORP IFRS 1(Y2)) and the Companies Act 2(. Accounting policlos Basls of pr•parallon The financial statements have been ptepared the historKal cost basis. There are no materlal urertainl% at the charlty's abilty to continu8. Dknclosure exempuons The entity satisffies the crlteria of being a qualfying entity as defined in FRS 102 by reason of baing small. As such. advantage has been taken of the follrrwing disdosure exemptions avaiLable (a) No cash Ikm statement has been presented for the crry. (b) Disclosures in respect of financiat irffjtruments have been presented. 10
Summerfield Stsbles-Horses in the Community Company Llmlted by Guarantee Notes to the F5nanclal Statements (¢tyrf Year ended 30 September 2024 Accountlng polkl•8 (thiUnu•d) Judg•m•nts and koy 8ourcM of o•dmallon unc•rtalnty Thè preparatlon of the financial stsiements requires managerrnnt to make judgements, estimates and assumptions that affect the amunts roported. These estimates and judgements are continualty reviewed and are based on experience and other factots. indudlng eXpeCtaOnI of firture events that arn belteved tr) be reasonable under the ctrcumstances. Slgnifunt ludgemeni8 The judgements {apart frorn those irwolving estThatsons) that management has made In the priJ¢es$ of apptylng the &nttty'S accountlng polties and that have the mosl significant effect on the amounts re¢ognlsed In the finanelal stateffonts ar8 as folltr4VS: thgre aro no brnaches of any regulations tx 18glslallon that would impact on the charity'8 ability to ¢onllnue to operate in Its current fomwt sufficient fvnding by way of grants cf income genefatsd from aclivltias wlll be recA¥ed to enable the charity lo continue to operate. Key 80ure•8 of utimatlon uncertalnty Accounting estEmates and agsumptlons ere made concerning Ihe future and. by their nature. wlll rarety equal the related actual outcom?. The trusteas do not belkryve. however. that there are any key as$umpty'ons or other 8tyJrces of estimatlon uncertainty that have a slgnificant risk of causing a materlal adjustrrnnt lo the carylng amounts of assets and Ilabilitiès within the next financial year. Fund aceountlng Unrnstrlcled funds are avallable for at thè diwellon of tho trustees to fUrtr any of tho Charfty's purposes. Restcted funds arn subjected to restrictson8 on thetr expendllure declared by the donor or thrO[h the tem of an appeal, and are generalty testri¢ted fvnds. Incomlng r••our¢ All incom81s included In the Statent of flrwi¢lal activities when entiuement has passed to the charity, it b probable thal th& economic benefits associated with the transa¢lh)n wlll flow lo the charity and the amount Can be reliabty fflured. The lolwng spqdfic poklos are applted to particular categories of in¢om&.' In¢om8 from donattons or grants Is recogned when thwe is evKlence of entiuement to the gfft, receipt is prObate and ils amount be ffasured reliabty. income from rtding actfvibes i8 recc4nised Wh rvable. 11
Summerfleld Stables-Horses in the Communlty Company Limited by Guarantee Notss to the Flnancial Statements (¢onllnu Year ended 30 September 2024 A¢countlng poll¢l¢8 (¢trnllnu8d) Resources expendod Expenditure is recognised on an accruals basts as a liability is incurred. Expendlture Indudes VAT as thts which cannot b& recovered, and is classified under headings of the statement of financial activities to whkh it relates.. expenditure on raislng fvnds includès the costs of 811 fvndraising actNlties and events expenditure on charitable activities indudes all costs incurred by a ¢hartty in undertaking activities that further its Charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned lo ¢haritsble activf(ies. other expenditure in¢lud&s all expenditure that Is nerthar relatsd to raising funds for the charity nor part of its expendllure on charitable aclivltles. All costs are allocatsd to expenditure categories reflecting the use of the resource. Direct costs attributab to a single activity are allocaled directty to that aclivity. Shared Costs are apponioned where applicable betweèn the activities they contribute to on a reasonable, justifiable and consistent basL8. Tanglble a888ts All fixed 88sets are Inith?Ily record8d at co8L Deprnclatlon Dopreciation is calculaled so as to write off the cost or valuation of an asset, less its residual value, over the usefvl economic life of that asset as follows.. Stables equipment Motor vehicles Flxtures and equipment 10% straight line 20% straight Ilne 20% Straht line Llmltsd ty guarnntse The company is Ilmlted by guarantsa and consequently has no share capital. Donation8 and lega¢le8 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons General donathy Donations towards horse purchases 1.610 1.610 5.388 3.500 5.388 3.500 12
Summerfield Stsbles-Horses in the Community Company Limitsd by Guarantee Note8 to th• Financial Statements (millftu•dJ Year ended 30 September 2024 Donatlon$ and1ogacle8 {conthiued) UnrestriGted Total Fund$ Unrestrkted Total Funds Funds 2024 Funds 2023 Grants British Raclng School Yardley Great Trust streetGam8s UK Vera Howarth Trust Brittsh Horse Soclety Warwickshire College Harry Payne PelPlan British Equestrian Federatlon Postcode Lottery Grants <£1000 1,500 1,500 1,000 10,608 4,766 1,500 5.000 1,500 2,000 8.000 6.729 1,000 10,608 4,766 1,500 5,000 1,500 2,000 8,000 6,729 500 51)0 2.884 25.01)0 1.000 32,494 2,884 25,000 1,000 31494 49,991 49,991 Other tradlng actlvftles Unrestrfcted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fees aN1 contributions towards a¢livities Hlre of facilities and horses 142,008 9,532 142,IJ08 9,532 151,540 145,841 145,841 2,345 148,186 151,540 148,186 Expendlture on ¢harilabl• actlvltlos by fund typ• Unrestricted Total Funds Unrestrtcted Total Funds Funds 2024 Funds 2023 Riding tuitlon and &tivltss Supp)rt costs 175,544 20,331 195,875 175,544 20,331 195,875 160,368 21,759 182,127 160,368 21,759 182,127 Expenditure on charltable a¢¢lvlllu by a¢tfvlty ty Activities undertaken direcUy Support Total funds costs 2024 Totsl fvnd 2023 Rldlng tuition and activllles Governance costs 175,544 18,049 2,282 20,331 193.593 2,282 195.876 180,087 2,040 182.127 175,544 13
Summerfield Stables-Horses in the Community Company Umlt•d by Guarantee Notés to the Flnanclal Statements (¢th Year ended 30 Septomber 2024 Analys18 of support eosts c£*ts-Riding livities Total 2024 Totd 2023 General ofr Governan costs Support costs- Other costs 10,170 2,282 7.879 10,170 2,282 7,879 20,331 3,135 2,040 16.584 20,331 21,759 10. Net (expendlthreVln¢om• Net (expenditureyincome is stated aftw ¢hargiryl{¢rediling): 2024 2023 Depreciatson of tangible fLxed assets SA34 5.334 11. Indewndonl •xamination fees 2024 2023 Fees payable to the independent examiner tr. Independenl examination of the financkal statements Other financiai services 792 1rt90 282 720 1.320 2.040 12. Staff ¢08ts The lotsl staff costs and eMoyee beneffts for the reixwting yiod are anaty$ed as folh)ws: 2024 2023 Vkges and salarles Employer Contributic to pension pkns 74A96 73,942 256 74,716 74.198 The average head count of emptyees during the year was 812023.. 81. The average number of full-time equivalent empbyees during the year is anatysed as follows.. 2024 2023 No. Teachlng and animal care No employee received employee benefits of ffk)re than £60.000 thjriry Ihe year (2023: Nil). Key Managem•nt Por8onno1 The trustees COnder thffy ate the key management personnel. Tlw received no ramuneration In either the current or previous years. 14
Summerfield Stables-Horses in the Community Company Limited by Guarantsa Notes to the Financial Statoments (CORlthwd) Yoar ended 30 SepteMr 2024 13. Tnwtso romuneratton aml •xponse• Tr) rellIneralm or other benefits frorn enwknyment with the charity or a related entity were receNed by the trustees: no trustee expenses have been incurred bui see note 19 below. 1& Tangible fix assets Land and Plant and buildings machirwy Motor VehleS Equipment Total At 1 2023 and 30 Septemr 2024 Depreclatlon At 1 October 2023 Charge for the year At 30 Septsmb•r 2024 Carrying omounl At 30 September 2024 At 30 September 2023 17.125 3.000 19,595 133,n8 2.816 1.703 14.000 2.881 18.316 5,334 750 4.519 2,250 16.881 23,650 94.008 12,606 14,309 750 2.714 110,078 1.500 5.595 115.412 15. Creditors: amounts lalllng due within one year 2024 2023 A¢¢rval$ and deferred income So¢ial security and other iaxes Other credito 11,734 8,462 1,419 5,476 15.357 10.192 23.767 16. Penslon8 and othw post-retlr•ment bgn•fits D•fined contrlbullon plans The aftunt r8co9nised in inconE or expeThliiwe as an eXSe in relation to defined contribution plans was £250 (2023.. £2561. 15
Summerfield Stables4ors8s In the Communlty Company Limltsd by Guarantsa Nots8 to the Financial Statements (conthy8dJ Year ended 30 September 2024 17. Analysls ol charltable funds UnTOstrlctod funds At30 september 2024 At 1 October 2023 Income Expenditure General fvnds 105,592 184,034 1195,875) 93.761 At30 September 2023 At 1 Octobor 2022 In¢omo Exponditure General funds 89.542 198,177 {182.1271 105,592 18. Analysls of net a88¢ts bgtween funds Unrestricted Total Fund$ Funds 2024 Tangible fixed assets Current assets Creditors less than 1 yaar Net assets 110,078 7,440 {23,767) 93,751 110,078 7,440 (23.767> 93,751 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Not assots 115,412 5.537 (15,357) 105.592 115,412 5,537 115,357) 105,592 19. Ralatod partl•s During previous years one of the trustees, M5 G U1n. made Interest-free loans to the charity. Although the loan is repayable on demand she has confimied that she wlll not seek repayment until the charity is in a sufficiendy financialfy Stable position to do this. During the year she made fvrther loans. The amount outstanding al 30 September 2023 was £3,127. Durlng the year she received £29 as reimbursement of routine operational expenses paid out on behalf of the charity (2023: £494). During 2023 donations totalling £3,500 were recebved from related parti8S tijwards the purchase of new horses. These donations were fully expended In the year. They also increased loans made to the chartty and at 30 September 2024 the arrnt outstanding was £7.000 16