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|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|
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|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.|
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|||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.|
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|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|||||
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|||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|
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|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||||
##
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|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)|