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2025-08-31-accounts

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

Registered number: 11322726 Charity number: 1178743

WESKO EQUESTRIAN FOUNDATION

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 - 10
Notes to the financial statements 11 - 19

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025

Trustees J Chablani, Chair
E A L Chesworth, Trustee
L Withers, Trustee
P E Surl, Trustee (resigned 21 April 2026)
Company registered
number
11322726
Charity registered
number
1178743
Registered office
Aston House
Cornwall Avenue
London
N3 1LF
Accountants
Adler Shine LLP
Chartered Accountants
Aston House
Cornwall Avenue
London
N3 1LF

Page 1

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their annual report together with the financial statements of the charity for the 1 September 2024 to 31 August 2025. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The charity’s objectives are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The Trustees have outlined the following strategies to achieve the above objectives:

Page 2

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

During the year the charity undertook the following specific activities in order to achieve its objectives:

d. Social investment policies

The Foundation is the proud owner of Wesko, four-star winner and British Eventing Horse of the year 2015. Tim Price, a New-Zealand eventer, and ambassador to the Foundation, currently rides and competes with Wesko. Collectively, as ambassadors to the Foundation, their partnership is made directly in the pursuit of the Foundation's charitable purposes and helps raise the Foundation's activities within the Eventing and Equestrian sports communities through their continued participation in worldwide competitions.

Wesko has now been relieved and put under the care of Tim Price. The Foundation retains legal title of Wesko.

e. Grant-making policies

The Foundation receives donated goods and services which are then utilised by the riders to further the objectives of the Foundation.

f. Volunteers

Currently, all the Trustees of the Foundation are volunteers.

Achievements and performance

a. Main achievements of the charity

During the year the charity enabled its sponsored riders to undertake many activities which would enable them to further their eventing dreams and pursue the charity's objectives of increasing education, training and welfare of these riders.

Page 3

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

Achievements and performance (continued)

b. Review of activities

A review of activities is undertaken up to 4 times a year. The Foundation focused on our first round of applicants and developing a comprehensive education plan and annual timetable for our riders. Continual feedback was sought from participants to determine programme areas which can be improved. The key performance indicators are mainly based on what the riders feel they have gained from the training on the horse and the education programme.

c. Factors relevant to achieve objectives

d. Investment policy and performance

The Foundation does not have a formal investment policy at the present time. The investments held by the Foundation currently consist of an investment property and ownership of an eventing horse, Wesko. The investment property is valued periodically by an expert and otherwise is assessed each year by the Trustees, as part of their review of the charity's financial performance.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The purpose of this reserves policy is to ensure that the charity holds sufficient funds to:

c. Material investments policy

The Foundation has a significant investment in the Windrush property and residence which was leased to a third party during the financial period to help provide an additional source of income to help fund the Foundation's charitable activities. The investment property was initially recognised at its transaction cost and subsequently measured at fair value as at the Balance sheet date.

Page 4

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

d. Principal risks and uncertainties

The major risk to which the Foundation is exposed is to is the inability to find and secure a multi-year sponsor. By securing a long-term sponsor, the Foundation will be able to continue to work towards achieving the Foundation's charitable activities.

e. Principal funding

The Foundation received cumulative cash donations of £30,000. The Trustees are currently in the process of discussing future donations. although no agreements have been achieved at present. These donations help to fund the operational costs of the Foundation as well as travel and subsistence expenditure for our riders during their attendance at education sessions.

Structure, governance and management

a. Constitution

Wesko Equestrian Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. New Trustees can be appointed with a simple majority of votes at a meeting of the Trustees assuming a quorum is present in line with the Trust deed.

c. Organisational structure and decision-making policies

Mariachiara Apruzzeze managed the day to day operations of the Foundation up until 4th December 2025, at which point the Trustees Emma Chesworth, Jane Chablani and Lesley Withers took over these responsibilities. Stuart Carter runs the property management of Windrush.

d. Policies adopted for the induction and training of Trustees

Due to the early stages of operation of the Foundation, Trustees have not been provided with formal induction and training. However, through their contacts they have access to both legal and financial advisors.

e. Pay policy for key management personnel

Remuneration of key management personnel was set by the Board of Trustees and any pay rises and discretionary performance-related bonuses are agreed by the Board of Trustees.

Plans for future periods

The charity plans to continue supporting the Pathway programme and fostering partnerships with industry sponsors. The charity will work closely with the new set of riders to ensure they receive quality training and mentorship opportunities throughout the programme.

Page 5

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ L Withers Trustee Date: 7/19/2026

Page 6

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Independent examiner's report to the Trustees of Wesko Equestrian Foundation ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2025.

Responsibilities and basis of report

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Signed: Dated: 19/07/2026 Alexander Chrysaphiades FCA Adler Shine LLP Chartered Accountants Aston House Cornwall Avenue London N3 1LF

Page 7

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
30,000
18,585
50,162
98,747
113,931
113,931
(15,184)
2,760,232
(15,184)
2,745,048		 Total
funds
2025
£
30,000
18,585
50,162
98,747
113,931
113,931
(15,184)
2,760,232
(15,184)
2,745,048		 Total
funds
2024
£
154,740
9,974
47,817
212,531
192,782
192,782
19,749
2,740,483
19,749
2,760,232

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 19 form part of these financial statements.

Page 8

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 11322726

BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Investment property
11
Current assets
Debtors
12
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
14
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 12,641
17,366
30,007
(25,267)		 2025
£
2,750,000
2,750,000
4,740
2,754,740
(9,692)
2,745,048
2,745,048
-
2,745,048
2,745,048		 1,500
26,080
27,580
(17,348)		 2024
£
2,750,000
2,750,000
10,232
2,760,232
-
2,760,232
2,760,232
-
2,760,232
2,760,232

Page 9

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 11322726

BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ L Withers (Chair of Trustees) Date: 7/19/2026

The notes on pages 11 to 19 form part of these financial statements.

Page 10

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

1. General information

Wesko Equestrian Foundation is a company limited by guarantee registered in England and Wales. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The principal activity of the charity is to advance education, training and community participation in Eventing and Equestrian sports.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Wesko Equestrian Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the charity's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Page 11

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

2. Accounting policies (continued)

2.4 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 allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Net Gains/(Losses) on investments’ in the statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 12

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The charity operates a defined contribution pension scheme for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of financial activities when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in an independently administered fund.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Unrestricted
funds		 Total
funds		 Total
funds
2025 2025 2024
£ £ £
Donations 30,000 30,000 154,740

Page 13

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

4. Income from charitable activities

Unrestricted
funds		 Total
funds		 Total
funds
2025 2025 2024
£ £ £
Income from charitable activities - Education & sponsorship
sessions 18,585 18,585 9,974

5. Investment income

Rental income
Bank interest		 Unrestricted
funds
2025
£
49,904
258
50,162		 Total
funds
2025
£
49,904
258
50,162		 Total
funds
2024
£
47,486
331
47,817

6. Analysis of expenditure by activities

Administrative activities
Charitable activities
Investment property costs		 Activities
undertaken
directly
2025
£
32,424
62,538
11,145
106,107		 Support costs
2025
£
7,824
-
-
7,824		 Total
funds
2025
£
40,248
62,538
11,145
113,931

Page 14

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

6. Analysis of expenditure by activities (continued)

Activities
undertaken
directly
2024
Grant
funding of
activities
2024
£
£
Administrative activities
41,710
-
Charitable activities
106,682
-
Investment property costs
27,103
-
Equipment and uniforms
-
4,740
175,495
4,740
7.
Analysis of grants
Grants, Education sessions
8.
Independent examiner's remuneration
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts		 Support
costs
2024
£
12,547
-
-
-
12,547
Grants to
Individuals
2025
£
Grants to
Individuals
2024
£
4,740
2025
£
5,000		 Total
funds
2024
£
54,257
106,682
27,103
4,740
192,782
Total
funds
2025
£
Total
funds
2024
£
4,740
2024
£
5,000

Page 15

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
The average number of persons employed by the charity during the year was
Chief executive officer		 2025
£
32,809
-
2,014
34,823
as follows:
2025
No.
1		 2024
£
40,737
558
2,304
43,599
2024
No.
1

No employee received remuneration amounting to more than £60,000 in either year.

10. Trustees' remuneration and expenses

During the year no trustees received any remuneration or other benefits for acting as trustees. Two (2024 - one) trustee received £1,800 (2024 - £2,100) for providing training sessions on an arm's length basis.

During the year, no Trustees received any remuneration or other benefits (2024 - £2,100) .

During the year ended 31 August 2025, expenses totalling £178 (2024- £138) were reimbursed or paid directly to 1 Trustee.

Page 16

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

11. Investment property

Valuation
At 1 September 2024
At 31 August 2025		 Freehold
investment
property
£
2,750,000
2,750,000

The fair value of the investment property has been provided by the Trustees based on discussions held with an independent valuer who held a relevant professional qualification.

12. Debtors

2025 2024
£ £
Other debtors 11,192 1,500
Prepayments and accrued income 1,449 -

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Creditors: Amounts falling due after more than one year
Other creditors		 2025
£
6,809
482
125
17,851
25,267
2025
£
9,692		 2024
£
4,327
639
-
12,382
17,348
2024
£
-

14. Creditors: Amounts falling due after more than one year

Page 17

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

15.
Statement of funds
Statement of funds - current year
Balance at 1
September
2024
£
Unrestricted funds
General Funds - all funds
2,760,232
Statement of funds - prior year
Balance at
1 September
2023
£
Unrestricted funds
General Funds - all funds
2,740,483
16.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Income
£
98,747
Income
£
212,531		 Expenditure
£
(113,931)
Expenditure
£
(192,782)
Unrestricted
funds
2025
£
2,750,000
30,007
(25,267)
(9,692)
2,745,048		 Balance at
31 August
2025
£
2,745,048
Balance at
31 August
2024
£
2,760,232
Total
funds
2025
£
2,750,000
30,007
(25,267)
(9,692)
2,745,048

Page 18

Docusign Envelope ID: 27F74636-1911-80DD-82B5-862E127F6A31

WESKO EQUESTRIAN FOUNDATION (A company limited by guarantee)

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

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Investment property
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
2,750,000
27,580
(17,348)
2,760,232		 Total
funds
2024
£
2,750,000
27,580
(17,348)
2,760,232

17. Contingent liabilities

A former employee of the Charity has brought an employment tribunal case against the Charity. As the matter is ongoing at the time of approval of these financial statements, the outcome of this matter is not know, nor is it currently possible to quantify the cost associated with this matter, including any potential settlement. As such, no costs have been accrued for in these financial statements.

18. Grant commitments

On 12 December 2023 the charity granted a 5 year lease over part of its investment property to Horses for Wellbeing CIO, at the annual rent of a peppercorn.

19. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £2,014 (2024 - £2,304). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date.

20. Related party transactions

As set out in note 18, Horses for Wellbeing CIO, a charitable company with shared trustees, were granted a 5 year lease at the under-market rent of a peppercorn annually. The arm's length value of this has been estimated to be £12,000 per annum.

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