2020-08-31-accounts - Wesko Equestrian Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

				Page
Reference and administrative		details ofthe company,	its Trustees and advisers
Trustees' report				2-8
Independent auditors'	report	on the financial statements
Statement of financial	activities			12
Balance sheet				13-14
Notes to the financial	statements			15-30

REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS
			FOR THE PERIOD ENDED 31				AUGUST 2020
Trustees			J Ahlefeldt-Laurvig,	Trustee
			JChablani, Chair
			L Withers, Trustee
			E A LChesworth,	Trustee
			P E Surl, Trustee	(appointed		20 July	2020)
Company	registered
number			11322726
Charity registered
number			1i78743
Registered		office	Aston House
			Cornwall Avenue
			London
			WC2R OFX
Chief executive officer			M C Apruzzese
Independent		auditors	Adler Shine LLP
			Chartered Accountants		and	Statutory	Auditor
			Aston House
			Cornwall Avenue
			London
			N3 1LF

					Unrestricted	Total
					funds	funds	Total
					17months	17months	funds
					ended	ended	Period ended
					31 August	31 August	31March
				Note	2020 2	2020 2	2019f
Income from:
Donations and	legacies				128,625	128,625	2,624,604
Investments					110,773	110,773	24,332
Other income					1,228	1,226
Total income					240,626	240,626	2,648,936
Expenditure on:
Charitable activities					202,183	202,163	131,000
Governance costs					14,360	14,360	8,880
Total expenditure					216,563	216,563	139,880
Net income before net gains			on investments		24,063	24,063	2,509,056
Net gains on investments				14	6,000	6,000
Net movement	in	funds before other recognised
gains/(losses)					30,063	30,063	2,509,056
Other recognised		gains/(losses):
(Losses)/gains	on revaluation		of fixed assets	13	(150,000)	(150,000)	250,000
Net movement	in	funds			(119,937)	(119,937)	2759,056
Reconciliation	of	funds:
Total funds brought		forward			2,759,056	2,759,056
Net movement	in funds				(119,937)	(119937)	2759056
Total funds carried forward					2,639,119	2,639,119	2 759,056

					31 August		31March
					2020		2019
			Note		9
Fixed assets
Social investments			14		10,000		4,000
Investment property			13		2,600,000		2,750,000
					2,610,000		2,754,000
Current assets
Debtors			15	6,998		6,905
Cash at bank and	in hand			48,751		49,385
				55,749		56,290
Creditors: amounts	falling	due within one
year			16	(26,630)		(39,234)
Net current assets					29,119		17,056
Total assets less	current	liabilities			2,639,119		2,771,056
Creditors: amounts	falling	due after more
than one year			17				(12,000)
Total net assets					2,639,119		2,759,056

	Unrestricted	Total
	funds	funds	Total
	17months	17months	funds
	ended	ended	Period ended
	31 August	31 August	31March
	2020 2	2020 2	2019f
Donations	128,625	128,625	120,604
Legacies			2,504,000
	128,625	128,625	2,624,604

		Unrestricted	Total
		funds	funds		Total
		17months	17months		funds
		ended	ended	Period	ended
		31 August	31 August	31	March
		2020	2020		2019
		9	2		9
Rental	income	110,711	110,711	24,295
Bank	interest	62	62		37
		110,773	110,773	24,332

Unrestricted	Total
funds	funds
17months	17months
ended	ended
31 August	31 August
2020	2020
2	6
1,228	1,228

				Unrestricted	Total
				funds	funds		Total
				17months	17months		funds
				ended	ended	Period ended
				31 August	31 August	31March
				2020	2020		2019
				6	2
Administrative		expenditure		41,691	41,691		25,120
Charitable	expenditure			113,615	113,615		78,299
Education	sessions			18,252	18,252		6,977
Equipment	and uniforms			14,876	14,876		18,000
Equipment	&	uniforms		13,749	13,749		2,604
				202,183	202,183	131,000
Analysis	of expenditure		by activities
				Activities	Grant
				undertaken	funding of		Total
				directly	activities		funds
				17months	17months	17months
				ended	ended		ended
				31 AU9Ust	31August	31	AUgust
				2020	2020		2020
				2			2
Administrative		activities		41,691			41,691
Charitable	activities			113,615		113,615
Investment	property costs			18,252			18,252
Equipment	and uniforms				14,876		14,876
Equipment	&	uniforms			13,749		13,749
				173,558	28,625	202,183

Analysis o		f ex	penditure by activiti	es (continued)
					Activities	Grani
					undertaken	funding cl	Total
					directly	acitvities	funds
					Penod ended	Period ended	Period ended
					31March	31March	31March
					2019 9	2019f	2019 9
Administrative			activities		25,120		25,120
Charitable	activities				78,299		78,299
Investment		property costs			6,977		6,977
Equipment		and	uniforms			18,000	18,000
Equipment		& uniforms				2,604	2,604
					110,396	20,604	131,000
Analysis of direct costs
						Investment
				Administrative	Charitable	property	Total
				activities	activities	costs	funds
				17months	17months	17months	17months
				ended	ended	ended	ended
				31 August	31 August	31 August	31 August
				2020	2020	2020	2020
				2	2	2	8
Staff costs				41,691	27,795		69,486
Hotel, travel		and subsistence			30,139		30,139
Insurance					1,262	1,086	2,348
Legal &professional					7,620		7,620
Telephone		&stationary			2,857		2,857
Repairs 8 maintenance					2,824		2,824
Advertising		and	promotion		12,486		12,486
Bank charges					281		281
Consultancy		fees			28,351		28,351
Property costs						17,166	17,166
				4'i,691	113,615	18,252	173,558

Analysis	o	f	direct	costs (continued)
							Investment
					Administrative	Charitable	property	7otat
					activities	activities	costs	funds
					Period ended	Period ended	Period ended	Period ended
					31March	31March	31March	31March
					2019f	2019f	2019	2019
Staff costs					25,120	16,747		41,867
Hotel, travel		and subsistence				8,779		8,779
Insurance						1,653	480	2,133
Legal 8	professional					14,274		14,274
Telephone		8	stationary			1,587		1,587
Repairs	& maintenance					11,308		11,308
Advertising		and promotion				2,805		2,805
Bank charges						60		60
Consultancy			fees			19,054		19,054
Property	costs					2032	6,497	8,529
					25,120	78,299	S,977	110,396
Analysis	ofgrants
							Grants to	Total
							Individuals	funds
							17months	17months
							ended	ended
							31 August	31 August
							2020f	2020f
Grants,	Education sessions						14,876	14,876
Grants,	Equipment			& uniforms			13,749	13,749
							28,625	28,625

			Grants to	Totai
			Individuals	funds
			Period ended	Period ended
			31March	31March
			2019f	2019f
Grants,	Education	sessions	18,OOO	18,000
Grants,	Equipment	& uniforms	2604	2,604
			20,604	20,604

			Unrestricted	Unrestricted	Total
				funds	funds	Total
			17	months	17months	funds
				ended	ended	Period ended
			31	August	31 August	31March
				2020 2	2020 2	2019f
Audit &	accountancy fees			14,380	14,380	8,880
Auditors'		remuneration
					17months
					ended	Period ended
					31 August	31March
					2020	2019
					8
Fees payable to the company's			auditor for the audit of the company's
annual	accounts				4,200	4,200

Staff costs
					17months
					ended	Period ended
					31 August	31March
					2020 8	2019 f
Wages and	salaries				65,752	40,000
Social security costs					2,154	1,357
Contribution	to defined	contribution	pension	schemes	1,580	510
					69,486	41,867
The average	number	of persons employed		by the company	during the period was as follows:
					17months
					ended	Period ended
					31 August	31March
					2020	2019
					No.	No.
Chief Executive Officer					1	1

	Freehold
	investment
	property
	2
Valuation
At 1 April 2019	2,750,000
Impairment	(150,000)
At 31 August 2020	2,600,000

			Social
			investments
			2
Cost
At 1 April 2019			4,000
Revaluations			6,000
			10,000
Net book value
At 31 August	2020		10,000
At 31 March	2019		4,000
Debtors
		31 August	31March
		2020 2	2019f
Due within one year
Other debtors			1,347
Prepayments	and accrued income	6,998	5,556
		6,998	6,905

		31August	31March
		2020 2	2019f
Otherloans			15,838
Trade creditors		2,212
Other taxation	and social security	994	1,148
Other creditors		12,000
Accruals and deferred income		11,424	22,450
		26,630	39,294

31	August	31March
	2020 2	2019f
		12,000

								31 August	31March
								2020 2	2019 f
Financial	assets
Financial	assets measured		at fair value through		income and expenditure			48,751	49,385
Financial	assets that are debt instruments			measured		at amortised	cost		1,347
								48,751	50,732
								31August	31March
								2020	2019
								2
Financial	liabilities
Financial	liabilities	measured	at amortised	cost				(23,424)	(50,086)

Current p	eriod
						Balance at
		Balance at 1			Gains/	31 August
		April 2019	Income	Expenditure	(Losses)	2020
		2	8	8		2
Unrestricted funds
Cash donations		(12,299)	100,000	(169,686)		(81,985)
Equipment	donated		13,749	(13,749)
Education	sessions		14,876	(14,876)
Investment	property	2,750,000			(150,000)	2,600,000
Social investments		4,000			6,000	10,000
Investment	income	17,355	112,001	(18,252)		111,104
		2,759,056	240,626	(216,563)	(144,000)	2,639,119
Prior period
						Balance at
					Gainsr	31March
			income f	Expenditure f	(Losses)f	2019
Unrestricted funds
Cash donations			100,000	(112,299)		(12,299)
Equipment	donated		2,604	(2,604)
Education	sessions		18,000	(18,000)
Investment	property		2,500,000		250,000	2,750,000
Social investments			4,000			4,000
Investment	income		24,332	(6,977)		17355
			2,648,936	(139,880)	250,000	2,759,056

		Unrestricted	Total
		funds	funds
		31 August	31 August
		2020	2020
		E	E
Investment	property	2,600,000	2,600,000
Social investments		10,000	10,000
Current assets		55,749	55,749
Creditors	due within one year	(26,630)	(26,630)
Total		2,639,119	2,639,119

Analysis	of n	et assets between funds - prior period
			Unrestncted	Total
			funds	funds
			31March	31March
			2019f	2019
Investment	property		2,750,000	2,750,000
Social investments			4,000	4,000
Current assets			56,290	56,290
Creditors	due	within one year	(39,234)	(39,234)
Creditors	due	in more than one year	(12,000)	(12,000)
Total			2,759,056	2,759,056