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2025-12-31-accounts

ROYAL AIR FORCE EQUITATION ASSOCIATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2025

CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1182739

Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG

ROYAL AIR FORCE EQUITATION ASSOCIATION

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CONTENTS
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Pages 3 to 7 Report of the Trustees
Page 8 Independent Examiners Report to the Trustees.
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Pages 11 to 16 Notes to the Financial Statements
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2

ROYAL AIR FORCE EQUITATION ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

LEGAL AND ADMINISTRATIVE INFORMATION

LEGAL STATUS Charitable Incorporated Organisation CIO NUMBER 1182739 START OF FINANCIAL YEAR 1 January 2025 END OF FINANCIAL YEAR 31 December 2025 TRUSTEES AT 31 DECEMBER 2025 H Norris (Chair) P Hawkins L Tostevin J Hall R Duke

President and Chairperson are both appointed by AOC 22Gp. Other Executive Committee members are volunteers, approved by the Chair or Deputy Chair and formally ratified by the full committee at the AGM. Trustees are formally appointed at the AGM.

CORRESPONDENCE ADDRESS Room 43 Kermode Hall RAF Halton Aylesbury Bucks HP22 5PG GOVERNING DOCUMENT CIO Association Constitution BANKERS Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP INDEPENDENT EXAMINER Independent Examiners Ltd The Grain Store, Hills Barns, Appledram Lane South, Chichester West Sussex PO20 7EG

OBJECTS

The objects for which the CIO is established (the “Objects”) are to promote the effectiveness of His Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for Equitation.

3

ROYAL AIR FORCE EQUITATION ASSOCIATION

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2025

EXECUTIVE COMMITTEE

Committee member name
Air Cdre Rob Caine
Wg Cdr Haley Norris
Flt Lt Penelope Hawkins
Cpl Alison Gainsford
Sqn Ldr Rosie Whitwham
Flt Lt Mandy Meikle
Flt Lt Nat Morrell
WO Charlotte Mckenna
Cpl Lou Charlton
Sqn Ldr Sarah Boon
WO Keely Martin
Cpl Danni Oliver
Flt Lt Joanna Parker
WO Sean Stringfellow
Sqn Ldr Rosie Whitwham
Sgt Nikki Stevenson
Sqn Ldr Sam Martin
Flt Lt Izzy Draper
Sqn Ldr Abi Stone
Flt Lt Nicole Grant
FS Ange Polgreen		 Office (if any)
President
Chair
Dep Chair
Secretary
Treasurer
Chef d’Equipe
Deputy Chef d’Equipe
Gov Co-Ord
Team Manager Dressage
Team Manager Show Jumping
Team Manager Cross Country
Grassroots Director
Grassroots Director
ISL Director
RAF Champs Director
Dep Champs Director
Safety Manager
PR Officer
Sponsorship Dir
Equipment Member
Dep Equipment Member		 Name of person
(or body) entitled to
appoint
AOC 22 Group
AOC 22 Group
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM
AGM		 Dates acted
(if not whole year)

From Apr 25
From Oct 25
From Jan 25
From Oct 25
Stood down Jan 25
From Oct 25
From Oct 25
From Oct 25
From Oct 25
From Oct 25
From Oct 25

OBJECTIVES AND ACTIVITIES

RAFEA AIM: To encourage and facilitate involvement in equitation in the RAF at all levels. The primary objective of the Association is to promote the efficacy of the RAF by enabling personnel to derive the benefits from participation in equitation, which enhances personal qualities of courage, determination, and initiative as well as physical and mental well-being and working as a team.

There are 4 main levels within RAF Equitation as defined in the overarching JSP660 – Defence Sport Policy and the UK Armed Forces Equitation Association’s Competition Policy. There are three Cat 2 disciplines defined in JSP 660 that RAFEA actively supports and enables – Dressage, Show Jumping and Eventing – through the following:

Grassroots: The aim is to promote the sport to those who would like to try the various disciplines without the cost of horse ownership. Station Saddle Clubs predominantly deliver this level through local events and lessons.

Personnel are encouraged to attend grassroots development courses run at significant discount, compared to civilian counterparts, at military establishments, especially the Army Saddle Clubs who have better support in terms of military instructors and horses. Grassroots riders can participate in the Inter Station League (ISL) and competition classes at the RAFEA Annual Championships (RAF Champs) on hired horses.

Inter Station League (ISL) : The RAFEA Committee runs an ISL each year. This competition series was established in 1978 to promote riding within the RAF and to encourage more novice (now called grassroots) riders to gain experience and challenge themselves through competing. The country is split into regions with 3-4 RAF Station Saddle Clubs in each region. Regional competitions take place between April and October. Regional winners and runners up then compete in a Final in November normally at a suitable riding school.

Junior, and Junior Development Squad: Development definitions for all three disciplines are set by the UK Armed Forces Equitation Association. There are classes for this level at many of the RAFEA and UK Armed Forces Equitation competitions throughout the year, all of which are classed as duty events for those participating. The deputy Chef d’Equipe works with Saddle Clubs and individuals to maximise their awareness of these opportunities and participation by helping them understand and negotiate the RAF bureaucracy to get the necessary authorisations to attend. Personnel who show potential to make the squad are encouraged to be active on the civilian competitive circuit and will be invited to attend one of the RAFEA training and selection events. We carry out training as a mix of all levels and select events that both Dev team and senior squad members can attend together to encourage a cohesive organisation that supports people at all levels and learns from each other’s experiences.

4

ROYAL AIR FORCE EQUITATION ASSOCIATION

REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2025

OBJECTIVES AND ACTIVITIES (continued)

Senior Squad: Definition of this level – those that form the RAF representational team – is set in the UK Armed Forces policy. Senior riders generally own or have regular access to a horse to establish the partnerships needed to compete at this level. Personnel selected for the senior squad will have the opportunity to represent the RAF at events listed below:

The RAF Championships (RAF Champs):

This annual event serves to encourage those from a basic ability to proficiency in equitation to compete in all three disciplines (dressage, show jumping, and cross country) at all levels (grassroots, development and senior). It is partly self-funded and partly supported by the Central Fund bid allowing subsidies to be applied in entrance fees thus encouraging a large turnout. Personnel are able to hire horses if required, further opening the competitive pool.

POLICY ON GRANT MAKING

RAFEA delivers equitation in the RAF in accordance with Defence policy as follows:

Centrally set for all Defence Sports by the UK Armed Forces Sports Board through Joint Service Publication (JSP) 660;

Set for the RAF by the DRS through Air Publication 3415;

Set for equitation through the UK Armed Forces Equestrian Association.

RAFEA does not award financial grants. It uses grants awarded to it by the Central fund to subsidise cost of entries and participation in competitions for the development level, representational senior team and the ISL. It provides in part corporate clothing to eligible senior and Dev riders and their horses and committee members in accordance with DRS policy.

It is acknowledged that sport in the RAF is delivered through the aegis of the Sports Associations and the willing, enthusiastic volunteers who undertake roles on the Executive Committees and in the associations. The delivery of RAF competition would not be possible without officials, all of whom are volunteers. The contribution in these roles is highly valued and much appreciated and recognised as a duty activity in Service policy documents.

RAFEA delivers its outputs solely through willing, enthusiastic volunteers who undertake roles on the Association Committees, Saddle Clubs, and at events. The contribution in these roles is highly valued and much appreciated and recognised as a duty activity in Service policy documents. Committee members provide feedback on more junior members to their chain of command for inclusion by reporting officers in individuals' annual reports.

The RAF Championships draws heavily on a wider pool of volunteers to help staff jumping arenas, secretaries’ tent, run the additional stables and generally run a major event comprising some 560 separate competition entries from 150 riders and 90 horses.

RELATIONSHIP WITH ANY RELATED PARTIES

The Association works closely with the following:

5

ROYAL AIR FORCE EQUITATION ASSOCIATION

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2025

PUBLIC BENEFIT STATEMENT

The trustees have been mindful of the guidance issued by the Charity Commission on public benefit.

ACHIEVEMENTS AND PERFORMANCE

RAF EQUITATION ASSOCIATION SEASON REVIEW SUMMARY OF RAFEA ACTIVITY AT MILITARY COMPETITIONS IN 205

The RAFEA held 61 fixtures during 2025, these covered all 3 of the disciplines: dressage, show jumping and eventing and included participants across all levels from grassroots to senior. Additional regional training was held for senior, development and grassroots riders across the country throughout the year.

1. RAF CHAMPS 13-16 APR 2025 SPARSHOLT COLLEGE

Loriners Dressage leg: 1st placed individual and 1st placed team.

2. ROYAL WINDSOR HORSE SHOW 17 MAY 2025 AT WINDSOR CASTLE

In May, two RAF teams were entered into the Royal Windsor Horse Show in Show Jumping rounds set in the ground of Windsor Castle. Half of the riders were new to the team with it their first Windsor whereas it was one individuals 13th. After a fabulous jump off by one new member one Team placed 1st, the first RAF win in living memory.

3. UKAFDC 17/18 MAY 2025 AT WESTON LAWNS FARM EQUESTRIAN CENTRE

From 12 RAF riders attending UKAFDC we had 19 riders placed within the top 5 of their level and 5 of those were 1st placings. We secured UKAFDC Champion 2025, UKAFDC Reserve Champion 2025, 4th, 5th, 7th & 9th placings in the championship out of the 10 allocated. ROR winner, Highest Score winner. Over all Intro winner, Overall intro 3rd place, Overall Prelim winner, Overall 2nd place Novice, Overall Elementary Winner, Overall Elementary 2nd place, Overall Medium Winner, Overall Advanced Medium Winner. Making a very successful outing for the RAFEA Dressage team.

4. RN CHAMPS 14-16 AUG 2025 AT DAVID BROOME EVENT CENTRE, MONMOUTHSHIRE

Loriners SJ leg: 1st Placed team

5. UKAFEC 15-17 SEP 25 AT BURY FARM, SLAPTON, BUCKINGHAMSHIRE

Loriners Combined Training leg results. For the second year running the RAF won the Interservice competition, beating the Navy and Army in 3 out of the 3 competitions throughout the season, and claiming individual 1st place in 3 of those as well. The interservice results were as follows:

The interservice results were as follows:

1st Place RAF 2nd Place Army 3rd Place Navy

6. LONDON INTERNATIONAL HORSE SHOW, EXCEL CENTRE, LONDON

3 RAF riders qualified, the highest number in memory.

Riders competed in uniform at several civilian events over the year, providing opportunities for promotion and engagement with the public.

Alongside these events, RAFEA members also took part in numerous British Eventing, British Dressage and British Show Jumping events around the UK.

GOING CONCERN

As disclosed earlier within this report, the Trustees of the Association have determined that it is in the best interests of the charity to merge with the Royal Air Force Central Fund. As of the date of transfer the Association will no longer exist as a standalone entity but will operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund.

6

ROYAL AIR FORCE EQUITATION ASSOCIATION

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2025

GOVERNING DOCUMENT

The RAFEA is governed by the following:

The RAFEA is constituted as a Charitable Incorporated Organisation.

TRUSTEE SELECTION METHODS

President and Chairman are both appointed by AOC 22Gp.

Other Executive Committee members are volunteers, approved by the Chair or Deputy Chair and formally ratified by the full committee at the AGM.

Trustees are formally appointed the AGM.

INDUCTION AND TRAINING OF TRUSTEES

All Executive Committee members receive written Terms of Reference, which are signed by both the Chair and the member.

Informal training is conducted during the handover process between members when personalities change.

SERIOUS INCIDENTS

There were no serious incidents requiring reporting in this financial year.

FINANCIAL REVIEW

Total income for 2025 was £44,825.10 (2024: £43,552.62). All equitation events were available for our riders to participate in throughout the year. General Funds at the year-end were £25,091.76 (2024: £22,596).

The charity holds minimal reserves, which have accumulated as a result of unspent funds from previous allocations by the RAF CF and by any minimal profits raised by Champs. There is no specific policy regarding the holding of reserves for any defined purpose; however, the Association utilises these funds to occasionally underwrite in-year activities whilst awaiting funding tranches. Due to an unexpected change in venue for our RAF Equestrian Championships FY26, it will be necessary to use some of these funds to support unbudgeted costs to ensure the event is a success.

General Funds at the year-end were £25,091.76 including debtor of £75 (£24,091.18 including property of £800) with zero Restricted Funds.

The charity depends on sufficient volunteers of suitable experience and calibre to run this large and growing Association and deliver high risk sport safely.

Trustees' Responsibilities

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Date …………………………………………. Signature………………………………………………………………
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PRINT NAME…………………………………………………………..
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7

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of the Royal Air Force Equitation Association Charitable Incorporated Organisation ("the CIO") for the year ended 31st December 2025.

As the CIO's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

Responsibilities and basis of report

I report in respect of my examination of the CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed

Name K Gomes FCIE MAAT

Date 25.3.26

Independent Examiners Ltd The Grain Store, Hills Barns, Appledram Lane South, Chichester West Sussex PO20 7EG

8

ROYAL AIR FORCE EQUITATION ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
INCOME
Donations and Legacies
3a
Charitable Activities
3b
Other Trading Activities
3c
TOTAL
EXPENDITURE
Expenditure on:
Charitable Activities
4a
TOTAL
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
10
Other recognised gains/(losses):
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
Transfer of Assets on Merger
16
TOTAL FUNDS CARRIED FORWARD
Gains and losses on revaluation of fixed assets
for the CIO's own use
Income and Endowments from:		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2025
2024
£
£
£
£
£
-
-
33,500
33,500
34,935
8,457
-
1,000
9,457
8,592
1,868
-
-
1,868
25
10,325
-
34,500
44,825
43,552
7,829
-
35,195
43,024
42,293
7,829
-
35,195
43,024
42,293
2,496
-
695
-
1,801
1,259
-
-
-
-
-
2,496
-
695
-
1,801
1,259
-
-
-
-
-
-
-
-
-
-
2,496
-
695
-
1,801
1,259
22,596
-
695
23,291
22,032
(25,092)
-
-
(25,092)
-
-
-
-
-
23,291

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as discontinuing within this CIO, however post-merger, operations will continue under the RAF Central Fund.

The notes on pages 11 to 16 form part of these financial statements.

9

ROYAL AIR FORCE EQUITATION ASSOCIATION

BALANCE SHEET AS AT 31 DECEMBER 2025

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Unrestricted Restricted 31-Dec-25 31-Dec-24
Funds Funds Total Total
Note £ £ £ £
Fixed Assets
Tangible assets 2 - - - -
Current Assets
Stocks 5 - - - -
Debtors 6 - - - -
Cash at bank and in hand 7 - - - 24,431
Total Current Assets - - - 24,431
8 - - - 1,140
Creditors: amounts falling due within one year
NET CURRENT ASSETS - - - 23,291
TOTAL ASSETS less current liabilities - - - 23,291
Creditors: amounts falling due in more than 9
one year - - - -
NET ASSETS - - - 23,291
Funds of the CIO
General Funds - - - 22,596
Restricted Funds 10 - - - 695
Total Funds - - - 23,291
Signed on behalf of all the trustees
Signature
Print Name
Date of approval
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10

ROYAL AIR FORCE EQUITATION ASSOCIATION

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

Basis of preparation:

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011.

As noted under the Reserves and Going Concern sections of the Trustees Report and in Note 16, the CIO has merged with the RAF Central Fund, with an effective date of 1st January 2026. This will mean that the CIO's operations will cease with Royal Air Force Equitation Association CIO, but will continue to operate and deliver its activity within the charitable operating framework of the Royal Air Force Central Fund.

The CIO constitutes a public benefit entity as defined by FRS 102.

The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO.

1. ACCOUNTING POLICIES

The particular accounting policies adopted are set out below.

INCOME

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Contractual Income and Performance Related Grants

This is only included in the SoFA once the CIO has provided the related goods or services or met the performance related conditions.

Gifts in Kind

Gifts in kind for use by the CIO are included in the SoFA as income from donations when receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Trustees' annual report.

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.

Income from membership subscriptions

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

11

ROYAL AIR FORCE EQUITATION ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES (continued)

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the CIO to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants with Performance Conditions

Where the CIO gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

Where there are no conditions attaching to the grant that enables the donor CIO to realistically avoid the commitment, a liability for the full funding obligation must be recognised.

Deferred income

No material item of deferred income has been included in the accounts.

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

ASSETS

Investments

Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the CIO. Subsequently, they are measured at the cash or other consideration expected to be received.

2. TANGIBLE FIXED ASSETS

These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or, if gifted, at the value to the CIO on receipt.

Depreciation on tangible fixed assets is calculated at a rate to write off their cost on a straight line basis over their estimated useful lives.

The CIO currently has no tangible fixed assets.

12

ROYAL AIR FORCE EQUITATION ASSOCIATION

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

3. ANALYSIS OF INCOME
a) Donations and Legacies
Grants
b) Charitable Activities
Equipment Hire Income
Other Miscellaneous Income
Personal Contributions
c) Other Trading Activities
Sale of Kit		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2025
2024
£
£
£
£
£
-
-
33,500
33,500
34,935
-
-
33,500
33,500
34,935
-
-
1,000
1,000
1,500
-
-
-
-
88
8,457
-
-
8,457
7,004
8,457
-
1,000
9,457
8,592
1,868
-
-
1,868
25
1,868
-
-
1,868
25

13

ROYAL AIR FORCE EQUITATION ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025

4. ANALYSIS OF EXPENDITURE

a) Charitable Activities
Kit & Equipment
Adjustment re Disposal of Asset (note 2)
Operating Costs
New Member Engagement/DSF
RAF Champs
RAF League		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2025
2024
£
£
£
£
£
4,000
-
5,940
9,940
1,346
-
-
-
-
1,200
1,284
-
14,816
16,100
19,639
2,045
-
5,476
7,521
10,606
500
-
8,963
9,463
9,158
-
-
-
-
344
7,829
-
35,195
43,024
42,293

Within the expenditure items in Note 4a) the following items are within operating costs:

First Aid, Medals and Trophies and Officials
Independent Examiners Fees
Insurance
Inter Station
Officials
Printing, Postage, Bank Charges, Telephone and Stationery
Training, Coaching, Subscriptions, Entrance, Affiliation and Course Fees		 2025
2024
£
£
955
554
1,200
1,140
93
129
-
591
172
-
40
6
13,640
17,219
16,100
19,639

5. STOCKS

The CIO held no stock at the end of the period.

6. DEBTORS AND PREPAYMENTS
Accrued Income
Transfer on Merger (Note 16)
7. CASH AT BANK AND IN HAND
Cash at bank and in hand
Transfer on Merger (Note 16)
Total		 Unrestricted
Restricted
31-Dec-25
31-Dec-24
Fund
Fund
Total
Total
£
£
£
£
75
-
75
-
(75)
-
(75)
-
-
-
-
-
Unrestricted
Restricted
31-Dec-25
31-Dec-24
Fund
Fund
Total
Total
£
£
£
£
25,017
-
25,017
24,431
(25,017)
-
(25,017)
-
-
-
-
24,431

14

ROYAL AIR FORCE EQUITATION ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2025

8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accrual - Independent Examination
Creditors
Accruals
10. RESTRICTED FUNDS
RAF Central Fund
UK Armed Forces Grant
UK Armed Forces Grant - Marquee
Sparsholt College
RAF Central Fund
UK Armed Forces Grant
UK Armed Forces Grant - Marquee
Sparsholt College
9. CREDITORS AND ACCRUALS: AMOUNTS F
MORE THAN ONE YEAR
WITHIN ONE YEAR		 ALLING DUE IN Unrestricted
Restricted
31-Dec-25
31-Dec-24
Fund
Fund
Total
Total
£
£
£
£
-
-
-
1,140
-
-
-
1,140
Unrestricted
Restricted
31-Dec-25
31-Dec-24
Fund
Fund
Total
Total
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
CURRENT REPORTING PERIOD
Balance
01-Jan-25
£
-
695
-
-		 Balance
Income
Expenditure
Transfers
31-Dec-25
£
£
£
£
28,250
(28,250)
-
-
4,250
(4,945)
-
-
1,000
(1,000)
-
-
1,000
(1,000)
-
-
695 34,500
(35,195)
-
-
PRIOR REPORTING PERIOD
Balance
01-Jan-24
£
-
-
-
-		 Balance
Income
Expenditure
Transfers
31-Dec-24
£
£
£
£
29,985
(29,985)
-
-
3,950
(3,255)
-
695
1,000
(1,000)
-
-
1,500
1,500
-
-
-
- 36,435
(35,740)
-
695

Central Fund Grant - to be used for operating costs, kit and equipment, overseas visits and development activities.

UK Armed Forces Grant - to be used for Loriners training and inter service costs.

UK Armed Forces Grant - Marquee - this represents a grant given for marquee hire.

Sparsholt College - this represents income and expenditure on marquee hire

The restricted funds are wholly represented by cash reserves of the charity.

11. STAFF COSTS

The CIO had no paid staff during the period.

15

ROYAL AIR FORCE EQUITATION ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2025

12. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES

Apart from the reimbursement of charitable purchases made on behalf of the charity, no other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

13. RISK ASSESSMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

16.TRANSFER OF ASSETS ON MERGER

RAF Equitation Association merged with RAF Central Fund (charity number 1152560) at midnight between 31 December 2025 and 1st January 2026. On that date the assets and liabilities of RAF Equitation Association were transferred to the RAF Central Fund and its reserves were treated as a donation to the RAF Central Fund. The transactions of RAF Equitation Association since that date have been included in the Statement of Financial Activities of the RAF Central Fund.

The assets transferred were as follows:

Creditors
Debtors
Total
Fixed Assets at net book value
Cash at bank and in hand		 Unrestricted
Restricted
31-Dec-25
Funds
Funds
Total
£
£
£
-
-
-
25,017
-
25,017
75
-
75
-
-
-
25,092
-
25,092

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