2020-12-31-accounts

Trustees' Report	1 to 22
Independent Examiner's Report	23
Statement ofFinancial Activities	24 to 25
Balance Sheet	26 to 27
Notes to the Financial Statements	28to 42

Comradeship	We promote loyalty that results in a shared commitment. We believe that It is the spirit of
	comradeship that makes victories possible.
Respect	We respect the welfare and well-being ofall with whom we engage. We are treating others the way we want to be treated. We respect the health and wellbeing ofall horses.
Empathy	We understand other people's experience, perspective and feelings. We make sure we assess how individuals feel in their own shoes, not how we would feel in their shoes. We
	believe the unique relationship between human and horse helps foster greater empathy
	in humans for other humans.
Dignity	Dignity is our inherent value and worth. We value each individual for their own sake, and we will always ensure that everyone is included and treated ethically. We also respect
	the dignity ofthe horse.
Integrity	We conduct ourselves in a manner that demonstrates the highest standards. Our decisions are evidence based, robust in their reasoning, fair and balanced. We will know
	and do what is right.
Trust	We know that trust is one ofthe most important aspects ofall relationships. It requires
	the ability to choose to be vulnerable and courageous. Trust is built on a feeling of confidence in the integrity, the reliability and the fairness ofpeople and organisations. It
	quantifies and defines our interdependence in relationships with others. We believe that the building oftrust between human and horse helps a human's wellbeing and self
	esteem, and healing from both mental and physical illness.

		income due to	income due to		against budget.
		COVID-19
					Optimise estate, remain agile
		Poor fundraising/income			and be prepared to diversify	by
		generation	returns		utilising irreducible spare
					capacity for income generating
		Control on expenditure			activity.
					Ensure operating as a group
					generates financial efficiencies,
					e.g VAT Group, Insurance
					Group etc.
					Fundraising plan which sets out
					diverse range ofopportunities
					and initiatives, benchmarking
					and securing new opportunities.
Effective,	efficient and	Lack ofsuitably qualified		and	Provide centralised business
compliant	delivery ofthe	experienced	staff capable and		support services maned with
Charity Trading subsidiaries		with the capacity to run		small	individuals with appropriate
		and medium	enterprises		KSEfor finance 8 tax, facilities
					and contract management,
					income generations, media,
					insurances, ITsupport, legal,
					estate management, marketing,
					leadership mentoring and
					support.
Having the correct staff with		Requirements/demands			An annual staff training needs
the capacity, competences,		exceed staff capacity.			analysis's leading toa costed
and motivation.					statement oftraining
		Staffdo not	have or maintain		requirement that is used to
		the required	knowledge,	skills	H2A.
		and experience (KSE).
					Staff Output Surveys and
		Dissatisfied	staff		manage growth in accordance
					with individual staff capacity
					and staff numbers.

									Review pay and rewards in	Review pay and rewards in
									November annually.
Growing the size, skills sets			Insufficient	numbers ofboard					Annual Board Survey (NCVO
and diversity ofthe charity			members to deliver						Governance Wheel)
board.			requirements		leading to board
			burnout / lack		ofvolunteer				Company Secconducts training
			sUpport.						needs analysis with board
									members and implements	and
			Board does	not truly represent					appropriate board training plan.
			the beneficiary		groups		it isset
			up to support.		The	board		lacks
			fresh perspectives			from
			organisations/individuals
			outside the	military		and	charity
			sector.
Maintaining	pace with		The charity	becomes					Memberships oforganisation
legislation	and statutory		non-compliant		or fails to meet				such as COBSEO, NOVO and
compliance	requirements		its statutory	duties.					SCC and access to
									membership areas where
									learning is shared and where
									information is cascaded via
									email to key charity staff.
									Attendance on charity
									conferences and meetings,
									webinars by charity staff on	a
									quarterly basis.
									Horizon scanning by CEO and
									Ops Director becomes part	of
									routine business.
Ensure appropriate		security of	The charity is		constrained			from	Detailed discussion between
tenure —Lease and		Licences.	investment into infrastructure						charity, MOD, Charity Legal
			which becomes unfit for						(Wilsons) and Estate (Savills)
			purpose.						teams to secure appropriate
									leases/licences at the correct
			Charity limited		in its	grant			market value for the correct
			reach as funders require						periods with appropriate
			security on tender						liabilities and responsibilities

							attributed.
				Charity growth is limited		and
				ability totrade for charity			Charity Lease/Licences
				income to	support charitable		Working Group made up ofkey
				activity is curtailed.			board members with relevant
							KSE, legal and estate teams.
Raising the profile and				The inability to generate		and	Website and Social Media
understanding		ofthe	charity	appropriate	broad range	of	Presence is kept up to date to
				donor support and income			push information on charity
				streams.			activity to appropriate sources.
				Perceptions ofthe charity and			Charity attendance at high
				its purpose	could have		profile equestrian events both
				detrimental	impact on delivery		internally (Rundle Cup and
				ofpurpose.			Tedworth Cups) as well as
							other
Poor Change		Management		Failure to deliver effective			Effective communication to staff
				change.			and supporters via face to face,
							and online briefings.
				Disruption	to individual,	team
				and group	cohesion.		Employment ofan Operations
							Director to facilitate change
				Organisational culture and			management and culture
				ethos is disrupted.			workshops for staff at charity
							and subsidiary level.
				Strategic alignment is difficult
				to identify and becomes
				fractured.
Exploiting	technology		to our	We do not	realise the full		Introduction ofonline seminars
advantage.				potential to	support our		and courses.
				beneficiaries.
							The design and creation ofa
							Virtual Equestrian Centre that
							outreaches tothose who might
							not otherwise be able to get to
							our facilities and activities.

Trustees	Trustees	Trustees
Major General (Retired) Robert Talbot Rice CBE —Board Chairman			Appointed	September 2020
Mrs Sam lllingworth —Company/Board Secretary -Appointed	June		2020.
Colonel (Retired) Frances Castle - Board Treasurer
Captain (RN Retired) Allan Wilson —Board Member Appointed	7April 2020
Mr Edward Whittington —Board Member Appointed April 2021
Mr Andrew Lord —Board Appointed May 2021
Colonel Richard Winchester —Board Member resigned April 2020
Lieutenant Colonel (Retired) James Balls MBE —Board Chairman		resigned 30		September 2020
Committee Structures:
Finance and Audit Committee

		Recogn	ised Gain	s and Losses	s and Losses	)
				Unrestricted		Restricted	Total
				funds		funds	2020
			Note	E			6
Income and Endowments		from:
Donations and legacies			3	14,955		1,514	16,469
Charitable activities			4	147,537		53,350	200,887
Other income			5	50408			50	408
Total income				212	9DD	54 864	267	764
Expenditure on:
Charitable activities				(183,743)		(32,020)	(215,763)
Total expenditure				183743		32020	215	763
Net income				29	157	22 844	52	001
Net movement in funds				29,157		22,844	52,001
Reconciliation offunds
Total funds brought Total funds carried	forward forward		17	184376 ~18006		~244	184	376
						Unrestricted	Total
						funds	2019
				Note		6	E
Income and Endowments		from:
Donations and legacies						61,239	61,239
Charitable activities						319,750	319,750
Investment income						235		235
Other income						3 Doo	3	0110
Total income						384224	384	224
Expenditure on:
Charitable activities						(199,848)	(199,848)
Total expenditure						~199848	~199848
Net income						184376	184	376
Reconciliation offunds
Total funds carried	forward				17	~14377(

		Balan	ce She	et as at	31De	cember	2020
							2020	2019
						Note	6	6
Fixed assets
Intangible assets						9	30,086	152,000
Tangible assets						10	194,527	20,861
Investments						11	1 QD1
							22~614	172861
Current assets
Stocks						12		1,279
Debtors						13	5,963	48,386
Cash at bank	and in hand						58565	74 582
							64,528	124,257
Creditors: Amounts		falling due	within one year			14	~3765	112742
Net current assets							66 763	11515
Total assets 6 dtt:4	less current liabilities t f td Qd fl			18	7	15	286,377 ~QQ ODD	184,376
Net assets							~~77	~14~7
Funds ofthe	charity:
Restricted funds							22,844
Unrestricted	income	funds
Unrestricted funds							213533	184376
Total funds						14	~377.	~@4~7

7 Staff c The aggregate payroll costs were as follows:
	2020	2019
	E	E
Staff costs during the year were:
Wages and salaries	89,932	84,664
Social security costs	4,017	5,280
Pension costs	1,366	5,024
Other staff costs	1 744	1 024

9Intangible fixed assets
		Goodwill	Total
		8	8
Cost
At 1 January 2020		161 386	161386
At 31 December 2020		161 386	161386
Amortisation
Charge for the year		2,300	2,300
Writedown/(back) to recoverable	amount	129 000	129 0110
At 31 December 2020		131300	131300
Net book value
At 31 December 2020
At 31 December 2019

	Furniture	Furniture		Other
	arid		Motor	tangible
	equipment 6		vehicles	fixed asset f	Total 8
Cost
At 1 January 2020	8,740		14,550		23,290
Revaluations				129,000	129,000
Additions	78	759	5400		84159
At 31 December 2020	87	499	19950	129000	236449
Depreciation
Charge for the year	27,267		14,504		41,771
Eliminated on disposals		151			151
At 31 December 2020	27	418	14594		41 922
Net book value At 31 December 2020	JKJt81		~545	1284lEI	~8227
At 31 December 2019	~24Q		14550		~2329
11 Fixed asset investments
Other investments					2020 8 ~71
Otherinvestmente
				Unlisted
				investments	Total
				6	8
Cost orValuation Additions
At 31 December 2020				1 001	1 001
Net book value				1 001	1 001
At 31 December 2020
					1 001

12Stock
Stocks		2020 F	2019 f~II
13Debtors
		2020f	2019 f
Due from group undertakings Prepayments		5963 ~263	46,772 I 614 ~46
14Creditom: amounts	falling due within one year	2020	2019
		f	f
Bank loans			108,700
Due from group undertakings		1,676
Trade creditors		3,661	3,661
Other taxation and social VAT grant repayable Other creditors	security	333 (3,661) 64 I 692	(2,113) 494 2 000
Accruals

16Funds
					Balance at
		Balance at 1	Incoming	Resources	31 December
		January 2020 f	resources F	expended f	2020
Unrestricted	funds
General Restricted funds		(184,376)	(212,900) ~54 564	183,743 32 1120	(213,533) ~22 541
Total funds		~13622231	~2!KH42

					Balance at
			Incoming	Resources	31 December
			resources 6	expended 6	2019 6
Unrestricted		funds
General
17Analysis ofnet assets between funds
			Unrestricted
			funds
				Restricted
			General	funds	Totalfunds
				F	f
Intangible	fixed assets		30,086		30,086
Tangible	fixed	assets	194,527		194,527
Fixed asset investments			1,001		1,001
Current assets Current liabilities Creditors over 1 year Total net assets			17,757 (112,466) ~50000 46,772 62,852 (110,789) ~50000 ~5500~7777~077
18Analysis ofnet funds
					At 31
			At 1January		December
			2020	Cash flow	2020
			6	6	6
Cash at bank and in hand			74,592	(16,027)	58,565
Net debt			FM92	(16,027)	58,565

		Restricted	funds
				Total
			Restricted	Restricted
			Funds	funds
			2020	2020
				E
Income and Endowments		from:
Donations	and legacies		1,514	1,514
Charitable	activities		53350	53350
Total income			54864	54 864
Expenditure on:
Charitable	activities		(32,020)	(32,020)
Total expenditure			~32020	~82 020
Net income			22 844	22 844
Reconciliation offunds
Total funds	carried forward

						2020		2020
						Unrestricted
						funds
							Restncted		Total
						General	funds	Total	2019
						8	8	8	8
Income and Endowments					from:
Donations	and legacies			(analysed
below)						14,955	1,514	16,469	61,239
Charitable	activities		(analysed
below)						147,537	53,350	200,887	319,750
Investment		income	(analysed
below)										235
Other income (analysed				below)		5114DS		50408	3	000
Total income						212 SDD	54 864	267 764	384	224
Expenditure		on:
Charitable		activities (analysed				(183,743)	(32,020	(215,763	(199,848)
below)
Total expenditure Net income						~183743 ~32020		~215763	~199848
Net movement in funds						29157	22844	520DI	184376
Reconciliation offunds						29,157	22,844	52,001	184,376
Total funds		brought	forward
Total funds		carried	forward			184376 ~33 ~244		184376 ~38a2	~4376

				2020	2020	2020
			Unrestricted
			funds
					Restricted		Total
			General		funds	Total	2019
			8		t'.	6	6
Donations	and legacies
Committed	giving		1,883			1,883	2,417
Committed	giving				1,514	1,514
UK Government		grants	10,213			10,213
Grants received 6ubscriptions			2 ~74	859	~74	2 889 ~764	57,414 1 498 ~67 2
				2020		2020
			Unrestricted
			funds
					Restricted		Total
			General		funds	Total	2019
					E	t:	6
Charitable	activities
Livery Income			55,953			55,953	49,457
Lesson Income			43,302			43,302	102,751
Competition	Income			972		972	7,702
Contractual	income from
government	or public authorities		4,145			4,145	35,093
Grants receivable			40,926			40,926	120,000
Grants receivable					53,350	53,350
Other			2 239,1~37			2239	4 747
						2020
							Total
						Total	2019
						8	6
investment	income
Interest on	cash deposits						235

		2020	2020
		Unrestricted
		funds
				Total
		General 6	Totalf	2019 6
Other income
Trading Profits from Subsidiaries		25,408	25,408
Other income		25 000	25 ODD ~04	3000 ~00
		2020	2020
		Unrestricted
		funds
		Restricted		Total
		General funds	Total	2019
		6 6	6	6
Charitable Activities
Opening stock Materials Materials Purchases Purchases Wages and salaries Wages and salaries Staff NIC (Employers) Staff pensions (Defined		(1,279) (10,565) (2,621) (86,932) (4,017) (20,910) (1,000) (3,000)	(1,279) (10,565) (20,910) (2,621) (1,000) (86,932) (3,000) (4,017)	(21,832) (10,212) (84,664) (5,280)
contribution) -pension scheme Freelance Wages Subcontract cost Staff training	1	(1,366) (839)	(1,366) (839)	(5,024) (22,345)
Light, heat and power Light, heat and power		(4,303) (3,000)	(4,303) (3,000)	(10,822)
Repairs and maintenance Equipment repairs and renewals		(7,809) (2,947)	(7,809) (2,947)	(11,173)

	2020			2020
	Unrestricted
	funds
		Restricted			Total
	General	funds		Total	2019
Amortisation ofgoodwill	8	E		S	8
Depreciation ofplant and	(2,299)			(2,299)
machinery Depreciation offixtures and	(23,183)			(23,183)
fittings Depreciation ofmotor	(3,497)			(3,497)	(587)
vehicles Depreciation ofoffice	(12,663)			(12,663)	(1,842)
equipment (Profit)/loss on sale of	(151)			(151)
tangible fixed assets held for charity's own use	7,500			7,500
Support Costs
Computer software and maintenance costs	(1,537)			(1,537)	(1,449)
Computer software and maintenance costs Telephone and fax Insurance Staffwelfare Staff training Customer entertaining	(414) (9,110) (1,394) (335)	(120) (390)		(120) (414) (9,110) (1,394) (390) (335)	(1,046) (1,613) (1,024) (1,099)
(disallowable for tax) Legal and professional fees	(77) (1,708)			(77) (1,708)	(9,680)
Pension scheme finance costs	3,575			3,575	(981)
Pension scheme finance costs		(3,600)		(3,600)
Printing, postage and stationery Irrecoverable VAT Cleaning Advertising Accountancy fees The audit ofthe charity's annual	(333) (10,561) (425) (1,125) (2,567)			(333) (10,561) (425) (1,125) (2,567)	(602) (4,330) (556) (9) (2,494)
accountsBookkeeping services Payroll services Professional indemnity insurance Bank charges Bank interest payable	(18) (172) (203) (415) 47			(18) (172) (203) (415) 47	(1,184)
	(183,743)	(32,020)		(215,763)	(199,848)