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2022-12-31-accounts

The Armed Forces Equine Charity Previously known as Tedworth Equestrian Annual Report and Consolidated Statements For the year ending 31 December 2022

Charity number: 1184971 Company number: 11843722 (England and Wales)

The Armed Forces Equine Charity For the Year Ended 31 December 2022

Contents Page
Trustees' report 3 - 11
Independent Auditors’ Report 12 - 14
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16 - 17
Charity Balance Sheet 18
Consolidated Cashflow Statement and Notes 19 - 20
Notes to the Financial Statements 20 - 34

The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Company Number 11843722 Charity Number 1184971 Registered Office:

Cromwell House, Hubert Hamilton Road, Bulford, Wiltshire, SP4 9JY

Governing Document:

Memorandum and Articles incorporated on 25 February 2019 and amended by Special Resolution at Companies house on 01 August 2019.

Board of Trustees:

Major General (Retired) Robert Talbot Rice CBE – Board Chairman Air Marshal Dame Susan Gray, DBE, CB, FREng Colonel (Retired) Frances Castle MBE - Board Treasurer Captain (RN Retired) Allan Wilson Mr Edward Whittington Mr Andrew Lord MBE

Committee Structures:

Finance and Audit Committee Strategy Committee Risk Committee Nominations and Renumeration Committee

Key Management:

Lieutenant Colonel (Retired) James Balls - Chief Executive Mrs Sam Illingworth – Corporate Services Manager Colonel (Retired) Tom Ridgway – Operations Manager Lieutenant Colonel (Retired) Nicholas Turner – Relationships and Engagement Manager Mrs Jean Joyce – Finance Manager Miss Amanda Smith - Website and Media Manager Miss Joanna Lonergan – Social Media Manager Mr Keith Lucas - Facilities Manager Mrs Clare Renouf - Book Keeper

Bankers

Holt’s Military Banking, 200 Fowler Avenue, Fowler Business Park, Farnborough, Hampshire, GU14 7JP Solicitors

Wilsons Solicitors LLP Salisbury: Alexandra House, St Johns Street, Salisbury SP1 2SB Property and Estate Management

Savills, Rolfes House, 60 Milford Street, Salisbury, SP1 2BP Auditors and Independents Examiners

Ward Goodman Audit Services Limited of 4 Cedar Park, Cobham Road, Ferndown Industrial Estate, Wimborne, Dorset, BH21 7SF

3

The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

The Trustees present their report together with the financial statements of the Charity for the year ended 31 December 2022 which should be read in conjunction with the reference and administrative details set out below. The financial statements have been prepared based upon the accounting set out in note X to the financial statements.

The Armed Forces Equine Charity is a Charity registered with the Charity Commission of England and Wales and with Companies House as a Company limited by guarantee.

OBJECTIVES AND ACTIVITIES

Our purpose is to promote the efficiency of the Armed Forces. Our part of this is delivered by supporting their welfare and wellbeing needs (both physical and mental) through interactions with horses and through our connected wider welfare supporting Community Hubs /Cafes and Heritage Trails.

Our beneficiaries are the Serving Military and their families; Military Veterans and those that have been bereaved and the local community around our equestrian centres. This equates to around 2.5 million people in the UK who are eligible for our support. Each County has the statistics for the numbers of Armed Forces Community that they have within their county boundaries. These range from around 3-17% of their overall county population.

The Charity currently has equestrian centres in Wiltshire (Tidworth, Netheravon and Bulford Garrison), Oxfordshire (Defence Academy), and Surrey (Royal Military Academy Sandhurst). The centre in Catterick Garrison is joining at the time of writing, and over the next 12 months we are most likely to bring 2-3 more centres into our portfolio.

To add some context on to the pressures that riding establishments are facing it should be noted that 15% of the equestrian centres in the UK closed last year. That equates to 1.5 million fewer opportunities for children and adults to build a love of horses and to benefit from what we are providing from ours. In these same challenging times, we managed to:

These Operating Centres and Hubs geographically sit at the heart of military Bases, Garrisons and Stations. As an example of our ability to react to the welfare and wellbeing through non-equine means we built a 1.5 mile military heritage trail to support serving and families in the largest UK Garrison in incredibly challenging COVID times. This heritage trail remains open and active with forty-seven reflective plaques covering over four hundred years of miliary history. This helps to create a place of belonging to the units of that Garrison. It is extensively used for park runs and dog walking.

4

The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

2022 was an extremely busy year in which we delivered the following:

  1. Equine Sport and Recreation (ESR). We have made Equine Sport, Recreation (including Adventurous Training) affordable, accessible, and available to all in the Armed Forces Community. Equestrianism can be cost prohibitive and so we offset the costs of participation by approximately 25% from the local area market rate. Where individuals might need more support, they can apply to our bursary scheme. Just over 19,000 individuals gained benefit from our services in 2022.

  2. Equine Assisted Services (EAS). We have enabled and assured the delivery of Equine Assisted Services to those who are in Recovery, Rehabilitating and Therapy. This service involves integrating clinical and non-clinical intervention into a care pathway that is comprehensive and supports the individual from their point of crises to their point of recovery. To achieve this, we collaborate with several private, public, and other third sector organisations. In 2022 this service benefitted four hundred and twenty-four serving members of the Armed Forces who are categorised as seriously Wounded, Injured and Sick (WIS), and fifty highly vulnerable Veterans who have either tried to take their own lives or have isolated themselves from the rest of society. We have saved lives through this work.

  3. Equine Assisted Learning (EAL). We have facilitated Equine Assisted Learning to those who are Neurodiverse and for individuals where the traditional classroom is simply not working. This area also covers a considerable number of school children who have become disengaged from school and society and fallen into unpleasant habits. For example, in one Garrison area there is a secondary school that has just over one thousand pupils on its roll. h 85% of these are from military families. Many of these had disengaged from school (truancy) and committing petty crime in the area and in worse case involved in county lines drug dealing. We stepped up and delivered a programme of support with a 100% return to school success rate. In 2022 we supported just over 250 children and their families through our learning programmes.

  4. Wider Welfare and Connectivity (WWC). We know that that when an individual first looks for support they discover an overwhelming number of organisations offering different aspects. Like the urban operations environment it appears to the individual as Congested, Cluttered, Contested, Connected and Constrained. This leads to stagnation and therefore to help people see the wood from the trees we have established Armed Forces Community Hubs/Cafes and Heritage Trails in and around our centres. These are great meeting places, full of appropriate information and support and a haven for wider welfare activity and discussion. In the last 12 months have established an Armed Forces Community Hub/Café and Heritage Trail that celebrates human endeavours at times of adversity and perhaps most appropriately this was built at a time of greatest challenge during the COVID pandemic.

  5. Assuring our Firm Base (AFB). Our Operating Centres and Hubs provide that vital firm base from which we can deliver our effects. Our equestrian centres now care for just over two hundred horses which each have an average annual sustainment cost of £2,500 per horse. In the last 12 months we were delighted that all our centres achieved five* gold licence accreditation from the National Governing Bodies and Local Authorities. We continue to grow and broaden our firm base.

5

The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

STRUCTURE AND GOVERNANCE

Governing Documents.

The Armed Forces Equine Charity is a charitable company limited by guarantee and was set up on 25 Feb 2019. The governing documents are the Articles of Association were agreed on establishment of the charity in August 2019. It has two trading subsidiaries that are wholly owned by the charity. These are Tedworth Park Riding Limited and Tedworth Park Polo Limited. Each of these has their own Articles of Association, Directors, and Management Boards.

Trustee Board.

All trustee appointments are approved formally by the Board of Trustees. Applications for trusteeship are encouraged from all sections of society. The board of Trustees met 4 times in 2022 and the board delegates certain functions to the following committees: Finance and Audit, Risk, Strategy, and Nomination and Renumeration.

Armed Forces Covenant.

The charity is a BRONZE level signatory to the Armed Forces Covenant.

Veterans Mental Health Awareness Standard (VMHAS).

The Charity was recently awarded the COBSEO VMHAS.

Pride in Veterans Standard (PiVS).

The Charity was recently awarded the PiVS by Fighting with Pride Charity.

The Confederation of Service Charities - COBSEO.

The Charity is a member of the Confederation of Armed Forces Charities and in 2021 we became an associate membership of the Contact Group which is a cluster of armed forces charities and organisations connected with the delivery of mental health support.

Armed Forces Mental Health Cluster - Contact Group.

The Charity is an associate member of the COBSEO Mental Health Cluster known as the Contact Group.

Fundraising Register.

The Charity is registered with the Fundraising Register.

The National Council for Voluntary Organisations.

The charity is a member of NCVO that provides training, events, consultancy, help and guidance, policy, and research to its third sector membership in UK and abroad.

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The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

STRUCTURE AND GOVERNANCE continued

British Horse Society.

All our centres are members of BHS whose mission is to: Promote and advance the education, training and safety of the public in all matters relating to the horse; Promote the use, breeding, well-being, safety, environment, health and management of the horse for the public benefit; Promote community participation in healthy recreation involving the horse; Promote and facilitate the prevention of cruelty, neglect or harm to horses and to promote the relief, safety, sanctuary, rescue and welfare of horses in need of care, attention and assistance and to promote and secure the provision, protection and preservation of rights of way and of access for ridden and driven horses over public roads, highways, footpaths, bridleways, carriageways, public paths and other land.

Hurlingham Polo Association.

Our Tedworth Park Polo Club is a member of the Hurlingham Polo Association. This is the governing body for polo in the UK, Ireland, and many other countries throughout the world. As such, it is responsible for the regulations and rules under which the game is played. This includes the handicapping of anyone playing in the U.K. or Ireland, and the fixtures list. The object of the HPA is to further the interests of polo generally and support by all possible means the common interests of its affiliated clubs and associations.

HETI.

The charity is a member of the Federation of Horses in Education and Therapy International whose mission is to facilitate the worldwide collaboration between organisations and individuals whose objectives are philanthropic, scientific, and educational in the field of equine assisted activities and therapies.

Local Authority Registration and Inspection.

All our centres are registered with their local authorities who conduct annual inspections of them to certify that they are safe, secure facilities. Key standards that must be met for certification are Horse Welfare; Safeguarding: Customer Care; Facilities and Facilities Management; Quality Teaching/coaching; Grassland and estate management and legislative compliance. that place people at the heart of what they deliver and have a high standard of animal welfare. All our Centres are at the Gold (Highest) Standard.

RISK MANAGEMENT

Overall Risk Management Procedures.

The Trustees have the overall responsibility for ensuring the charity has appropriate systems of control organisationally. They are responsible for: ensuring that the charity is operating efficiently and effectively; its assets are safeguarded against unauthorised use or disposition; proper records are maintained; the financial information used within the charity or for publication is reliable and the charity complies with relevant laws and regulations.

The systems of internal control are codified into charity policy and procedures and are designed to provide reasonable but not absolute assurance against misstatement or loss. Some of the key internal control measures include:

7

The Armed Forces Equine Charity

Report of the Trustees

for the Year Ended 31 December 2022

RISK MANAGEMENT continued

Key risks

----- Start of picture text -----
OBJECTIVE RISK HOW WE MANAGE THE RISK
Regular Performance Reviews against
The impact of the Pandemic and
budget.
the current cost of living crises is
Optimise estate, remain agile and be
exceptionally challenging for
prepared to diversify by utilising irreducible
Sufficient Donor, Funder, income generation.
spare capacity for income generating activity.
Purchaser Customer, and
Investment income streams to Ensure operating as a group generates the
sustain and grow the charity so financial efficiencies it should.
that it can deliver its effects to the This is further compounded by
Delivery of 5-year Business Development
Armed Forces Community. the increasing demand for our
services and therefore the need Plans (BDPs) and Annual Business Action
(ABAPs) Plans that set out the diverse range
to grow at manageable pace.
of opportunities and initiatives, benchmarking
and securing new opportunities.
Provide centralised business support
services maned with individuals with
Lack of suitably qualified and
Effective, efficient, and compliant appropriate KSE for finance & tax, facilities
experienced staff capable and
delivery of the Charity Trading and contract management, income
with the capacity to run small and
subsidiaries generations, media, insurances, IT support,
medium enterprises
legal, estate management, marketing,
leadership mentoring and support.
An annual staff training needs analysis’s
Requirements/demands exceed
leading to a costed statement of training
staff capacity.
requirement that is used to H2A.
Having the correct staff with the
Staff do not have or maintain the Staff Output Surveys and manage growth in
capacity, competences, and
required professional Knowledge, accordance with individual staff capacity and
motivation.
Skills, and Experience (KSE). staff numbers.
Review pay and rewards in November
Dissatisfied staff
annually.
Insufficient numbers of board
members to deliver requirements
Annual Board Survey
leading to board burnout / lack of
volunteer support.
Growing the size, skills sets and Board does not truly represent
diversity of the charity board. the beneficiary groups it is set up Company Sec conducts training needs
to support. The board lacks fresh analysis with board members and
perspectives from implements and appropriate board training
organisations/individuals outside plan.
the military and charity sector.
Memberships of organisation such as
COBSEO, NCVO , BHS, HPA, HETI with
access to membership areas where learning
is shared and where information is cascaded
Maintaining pace with legislation The charity becomes non-
via email to key charity staff.
and statutory compliance compliant or fails to meet its
Attendance on charity conferences and
requirements statutory duties.
meetings, webinars by charity staff on a
quarterly basis.
Horizon scanning by CEO and Ops Director
becomes part of routine business.
----- End of picture text -----

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The Armed Forces Equine Charity Report of the Trustees

for the Year Ended 31 December 2022

RISK MANAGEMENT continued

Key risks

----- Start of picture text -----
Detailed discussion between charity, MOD,
Charity Legal (Wilsons) and Estate (Savills)
The charity is constrained from
teams to secure appropriate leases/licences
investment into infrastructure due
at the correct market value for the correct
Ensure appropriate security of to a lack of security on tenure.
periods with appropriate liabilities and
tenure – Lease and Licences.
responsibilities attributed.
Charity Lease/Licences Working Group
Charity growth is limited and ability made up of key board members with relevant
KSE, legal and estate teams.
The inability to generate and Website and social media presence is kept
appropriate broad range of donor up to date to push information on charity
support and income streams. activity to appropriate sources.
Raising the profile and
understanding of the charity
Perceptions of the charity and its Charity attendance at high profile equestrian
purpose could have detrimental events both internally (Rundle Cup and
impact on delivery of purpose. Tedworth Cups) as well as others.
Effective communication to staff and
Failure to deliver effective
supporters via face to face, and online
change.
briefings.
Disruption to individual, team and
Effective Change Management group cohesion. Employment of an Operations Director to
Organisational culture and ethos facilitate change management and culture
is disrupted. workshops for staff at charity and subsidiary
Strategic alignment is difficult to level.
identify and becomes fractured.
Introduction of online seminars and courses.
We do not realise the full The design and creation of a Virtual
Exploiting technology to our
potential to support our Equestrian Centre that outreaches to those
advantage.
beneficiaries. who might not otherwise be able to get to our
facilities and activities.
----- End of picture text -----

Financial Risk Management. Price Risk.

The Charity is exposed to price risk due to normal inflationary increases in the purchase price of the goods and services purchased in the UK.

Credit Risk.

The amount of exposure to any individual counterparty is not currently subject to a limit.

Liquidity Risk.

The Charity actively maintains a mixture of cash and long-term debt finance that is designed to ensure that the charity has sufficient available funds to meet its charitable purpose and charity growth/expansions. Interest Rate Risk.

The charity has interest-based liabilities which are at a fixed rate under the Coronavirus Business Bounce Back Loan Scheme.

We confirm that the major risks which the charity is exposed, as identified by the Trustees, have been reviewed and systems or procedures are established to manage those risks

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The Armed Forces Equine Charity Report of the Trustees for the Year Ended 31 December 2022

2022 FINANCIAL REVIEW

Financial and Reserves Review.

The charity plans to build and maintain the level of free reserves to be at least three months operating expenditure. Progress against this was routinely reviewed by Trustees through the Charity Finance and Audit Committee and at Main Board meetings.

As of 31 December 2022, the Charity total reserves (restricted and unrestricted) of £141,380 which represents a decrease of £27,560 from the prior year. Of this total the reserve £84,280 is unrestricted and £57,100 is restricted.

Of the unrestricted reserves figure £183,880 is represented by fixed assets. This has left a level of free reserves as of 31 December 2022 at (£99,600) which is below the target level of free reserves set.

The restricted reserves figure of £57,100 is a result of funders making grants in advance of 2022 and are likely to be fully expended in 2023.

Future Revenue Plans.

The Charity saw again an increasing demand for its services in 2022 and continues to do so in 2023. The charity remains agile and dynamic in its income generation activity. It aims to reduce its dependency on funder income and grow its donor, purchaser, and customer income streams.

In terms of our financial position, the three quarters of 2023 has continued to be challenging. We have seen an increase in funder and donor support however the customer income remains challenging because of the cost-ofliving crises.

Complaints.

We have received no complaints about fundraising activities. All other complaints were dealt with through the Charity’s complaints process.

Trustees Responsibilities.

Company Law requires the Trustees (some of whom who are also Directors of Tedworth Equestrian Limited and Tedworth Park Polo Limited for the purposes of company law) to prepare financial statements for each financial year that give a true and fair view of the situation of the Charity at the end of the incoming and outgoing resources for the year then ended.

In preparing those financial statements, the Trustees are required to select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent. The Trustees also must prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

10

Statement of Disclosures to the Auditor

Each Trustee of the company has confirmed in fulfilling his/her duties as a Trustee:

30/10/2023 The financial statements were approved and authorised for issue by the Board of Trustees on …..................... and were signed on its behalf by:

Major General (Retd) Robert Talbot-Rice CBE Chair of Trustees/Directors

11

Report of the Independent Auditors to the Trustees of The Armed Forces Equine Charity

Previously known as Tedworth Equestrian

Opinion

We have audited the consolidated financial statements of The Armed Forces Equine Charity (the 'charitable parent company' and its trading subsidiaries, together ‘the group’) for the year ended 31 December 2022 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets and the consolidated statement of cashflows and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

12

Report of the Independent Auditors to the Trustees of The Armed Forces Equine Charity Previously known as Tedworth Equestrian

Other information

The trustees and directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group and parent charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Sections 144 and 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

13

Report of the Independent Auditors to the Trustees of The Armed Forces Equine Charity Previously known as Tedworth Equestrian

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable group’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable group’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charitable group’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

I M Rodd BSc FCA FCCA For and on behalf of Ward Goodman Registered Auditor 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Date: 31/10/2023

14

The Armed Forces Equine Charity

Consolidated Statement of Financial Activities

(Incorporating an Income and Expenditure Account)

for the Year Ended 31 December 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
Charitable activity
6
Subsidiary trading income
Other trading activities
4
Investment income
5
Other income
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
Charitable activities
8
Subsidiary trading expenditure
Total
NET INCOME
Transfers between funds
20
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2022
Unrestricted
funds
Restricted
funds
Total funds
£
£
£
3,453
-
3,453
-
-
-
7,256
148,719
155,975
891,283
-
891,283
2,397
25,527
27,924
146
-
146
-
-
-
904,535
174,246
1,078,781
770
-
770
572,995
179,713
752,708
352,863
-
352,863
926,628
179,713
1,106,341
(22,093)
(5,467)
(27,560)
(566)
566
-
(22,659)
(4,901)
(27,560)
106,939
62,001
168,940
84,280
57,100
141,380		 2021
Total funds
£
6,762
-
208,245
707,031
21,499
205
(614)
943,128
12,033
655,093
317,945
985,071
(41,943)
-
(41,943)
210,883
168,940

All activities relate to continuing operations. The notes on pages 21 to 34 form part of these financial statements

15

The Armed Forces Equine Charity Consolidated Balance Sheet At 31 December 2022

Notes
FIXED ASSETS
Intangible assets
14
Tangible assets
15
Investments
16
CURRENT ASSETS
Stock
17
Debtors
18
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
20
NET ASSETS
FUNDS
Unrestricted funds
21
Restricted funds
21
TOTAL FUNDS		 Company number: 11843722
Charity number: 1184971
2022
2021
£
£
25,486
27,786
158,394
199,255
-
-
183,880
227,041
1,916
-
14,507
15,823
70,585
79,134
87,008
94,957
(65,122)
(56,864)
21,886
38,093
205,766
265,134
(64,386)
(96,194)
141,380
168,940
84,280
106,939
57,100
62,001
141,380
168,940

The notes on pages 21 to 34 form part of these financial statements

continued…

16

Company number: 11843722 Charity number: 1184971

The Armed Forces Equine Charity Consolidated Balance Sheet (Continued) At 31 December 2022

The charitable group is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable group as at the end of each financial year and of its surplus and deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable group.

These financial statements have been audited under the requirements of Section 144 of the Charities Act 2011. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small groups.

30/10/2023

These financial statements were approved by the Board of Trustees on …………………………………… and were signed on its behalf by:

……………………………………….

Maj Gen R H Talbot Rice CBE - Trustee

The notes on pages 21 to 33 form part of these financial statements

17

The Armed Forces Equine Charity Charity Balance Sheet At 31 December 2022

Notes
FIXED ASSETS
Intangible assets
14
Tangible assets
15
Investments
16
CURRENT ASSETS
Debtors
18
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
20
NET ASSETS
FUNDS
Unrestricted funds
21
Restricted funds
21
TOTAL FUNDS		 Company number: 11843722
Charity number: 1184971
2022
2021
£
£
25,486
27,786
122,127
160,763
1,001
1,001
148,614
189,550
11,267
6,657
51,242
62,312
62,509
68,970
(12,218)
(5,837)
50,291
63,132
198,905
252,681
(40,198)
(49,854)
158,708
202,828
101,608
140,827
57,100
62,001
158,708
202,828

30/10/2023 These financial statements were approved by the Board of Trustees on …………………………………… and were signed on its behalf by:

……………………………………….

Maj Gen R H Talbot Rice CBE - Trustee

The notes on pages 21 to 34 form part of these financial statements

18

The Armed Forces Equine Charity Consolidated Cashflow Statement for the Year Ended 31 December 2022

Cash flows from operating activities:
Notes
Cash generated from operations
1
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Sale of fixed asset investments
Interest received
Dividends received
Net cash provided by (used in) investing activities
Cash flows from financing activities:
New loans in year
Loan repayments in year
Interest on loans in year
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2022
£
63,402
63,402
(40,289)
-
-
-
146
-
(40,143)
(31,808)
(31,808)
(8,549)
79,134
70,585		 2021
£
33,307
33,307
(40,255)
-
12,568
-
205
-
(27,482)
30,000
(23,157)
6,843
12,668
66,466
79,134

The notes on pages 21 to 34 form part of these financial statements

19

The Armed Forces Equine Charity Notes to the Consolidated Cash Flow Statement for the Year Ended 31 December 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Adjustments for:
Depreciation charges
Amortisation
Loss on disposal of fixed assets
Interest received
Dividends received
Revaluation of listed investment
Cashflows before movement in working capital
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by (used in) operating activities
Net income for the reporting period (as per the statement of financial
activities)		 2022
£
(27,560)
39,803
2,300
41,344
(146)
-
-
-
55,741
(1,916)
1,316
8,261
63,402		 2021
£
(41,943)
42,029
2,300
-
(205)
-
-
-
2,181
-
4,051
27,075
33,307

The notes on pages 21 to 34 form part of these financial statements

20

The Armed Forces Equine Charity Notes to the Financial Statements For the Year Ended 31 December 2022

1. LEGAL FORM

The Armed Forces Equine Charity is a private company, Limited by Guarantee, registered in England and Wales. The company's registered number and registered address can be found on the Company Information Page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Basis of Consolidation

The group financial statements consolidate the financial statements of Minstead Trust and its wholly owned subsidiaries; Tedworth Equetrian Trading Limited and Tedworth Park Polo Ltd as if they formed a single entity. Intercompany transactions and balances have therefore been eliminated in full.

Income

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

Government grants shall be recognised in the SoFA on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the debt.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

21

The Armed Forces Equine Charity Notes to the Financial Statements

For the Year Ended 31 December 2022

2. ACCOUNTING POLICIES (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of fifteen years.

Tangibles fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Arenas and Fencing - 10% on cost and 4% on cost
Horses - 20% on cost
Motor vehicles - 33% on cost
Furniture and Equipment - 33% on cost and 20% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirment benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

22

Armed Forces Equine Charity Notes to the Financial Statements for the Year Ended 31 December 2022

3 DONATIONS AND LEGACIES
Donations
Gift aid
4 OTHER TRADING ACTIVITIES
Fundraising events
Café and bar income
5 INVESTMENT INCOME
Deposit account interest
6 INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable activity
Other income
Charitable activity		 2022
2021
£
£
3,058
6,078
395
684
-
-
3,453
6,762
2022
2021
£
£
2,397
18,207
0
3,292
2,397
21,499
2022
2021
£
£
146
205
146
205
2022
2021
£
£
155,005
208,031
970
214
155,975
208,245

23

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

6 INCOME FROM CHARITABLE ACTIVITIES continued

Grant received, included in the above are as follows:
Kickstart Grant
Armed Forces Covenant
Wiltshire Council
Wiltshire Community Foundation
Sir Peter O'Sullevan Charitable Trust
HorseBack UK
WASP - Steve Boocock
Drapers' Charitable Fund
GOGA
Army Central Fund
Veterans Foundation
ABF
St James' Place
Invictus Games
Bernard Sunley
Positive Pathways
Government grants
7 Raising funds
Raising donations and legacies
Fundraising
Other trading activities
Purchases
Aggregate amounts
8 CHARITABLE ACTIVITIES COSTS		 2022
2021
£
£
-
5,603
17,500
62,500
2,000
20,740
-
9,250
-
10,000
-
10,000
-
8,000
-
10,000
-
4,500
-
17,118
30,000
-
33,100
-
10,000
-
28,904
-
2,500
-
5,000
-
-
50,671
129,004
208,382
2022
2021
£
£
770
9,195
770
9,195
£
£
0
2,838
0
2,838
770
12,033
Charitable activities Direct
Support
costs
costs
Totals
£
£
£
701,914
38,677
740,591

24

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

9 SUPPORT COSTS

----- Start of picture text -----
||||| |---|---|---|---| |Finance|Governance|Totals| |£|£|£| |Charitable activities|7,853|30,824|38,677|

----- End of picture text -----

10 NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Depreciation - owned assets|39,803|45,475| |Amortisation|2,300|2,300| |Surplus / (deficit) on disposal of fixed asset|(41,344)|(614)| |-| |Independent examiantion fee|2,750| |Auditors remuneration|11,332|-|

----- End of picture text -----

11 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

----- Start of picture text -----
||||| |---|---|---|---| |12|STAFF COSTS|2022|2021| |£|£| |Wages and salaries|427,280|378,549| |Social security costs|21,489|20,676| |Other pension costs|6,541|5,444| |455,310|404,669| |The average number of employees during the year was as follows:| |2022|2021| |Employees|23|22|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

The total remuneration and benefits for key management personnel in the year to 31 March 2022 amounted to £56,923 (2021: £82,986).

25

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

13 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
Charitable activity
6
Subsidiary trading income
Other trading activities
4
Investment income
5
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Subsidiary trading expenditure
Total
NET INCOME
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted funds Restricted funds
Total funds
£
£
£
3,623
3,139
6,762
-
-
-
66,488
141,757
208,245
707,031
-
707,031
21,499
-
21,499
205
-
205
614
-
-
614
-
798,232
144,896
943,128
12,033
-
12,033
549,354
105,739
655,093
317,945
-
317,945
879,332
105,739
985,071
(879,332)
(105,739)
(985,071)
(879,332)
(105,739)
(985,071)
-
-
-
(81,100)
39,157
(41,943)
188,039
22,844
210,883
106,939
62,001
168,940

26

Armed Forces Equine Charity Notes to the Financial Statements for the Year Ended 31 December 2022

14 INTANGIBLE FIXED ASSETS

Goodwill £

COST

At 1 January 2021 and 31 December 2021

At 1 January 2021 and 31 December 2021
AMORTISATION
At 1 January 2021
Charge for year
NET BOOK VALUE
At 31 December 2021
At 1 January 2021		 32,386
4,600
2,300
6,900
25,486
27,786

15 TANGIBLE FIXED ASSETS - Group

COST
At 1 January 2022
Additions
Disposals
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
Eliminated on disposal
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 1 January 2022		 Arenas and
Motor
Computer
Fencing
Horses
vehicles
equipment
Totals
£
£
£
£
£
86,139
66,000
77,348
58,107
287,594
- 18,000
13,806
8,483
40,289
-
(14,000)
(30,000)
-
(44,000)
86,139
70,000
61,154
66,590
283,883
7,529
26,367
32,288
22,158
88,342
5,105
8,163
11,846
14,689
39,803
-
(656)
(2,000)
-
(2,656)
12,634
33,874
42,134
36,847
125,489
73,505
36,126
19,020
29,743
158,394
78,610
39,633
45,060
35,949
199,252

27

Armed Forces Equine Charity Notes to the Financial Statements for the Year Ended 31 December 2022

15 TANGIBLE FIXED ASSETS - Armed Forces Equine Charity

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Arenas and|Motor|Computer| |Fencing|Horses|vehicles|equipment|Totals| |£|£|£|£|£| |COST| |At 1 January 2022|86,139|52,500|47,348 57,147|243,134| |Additions|- - - 1,750|1,750| |Disposals|-|(11,500)|- -|(11,500)| |At 31 Decemeber 2022|86,139|41,000|47,348|58,897|233,384| |DEPRECIATION| |At 1 January 2022|7,529|22,823|30,288|21,731|82,371| |Charge for year|5,105 2,363|8,395|13,023|28,886| |Eliminated on disposal|- - - -|-| |At 31 Decemeber 2022|12,634|25,186|38,683|34,754|111,257| |NET BOOK VALUE| |At 31 Decemeber 2022|73,505|15,814|8,665|24,143|122,127| |At 1 January 2022|78,610|29,677|17,060|35,416|160,763|

----- End of picture text -----

16 FIXED ASSET INVESTMENTS - Armed Forces Equine Charity

----- Start of picture text -----
|||| |---|---|---| |Unlisted|Totals| |investments| |MARKET VALUE|£|£| |At 1 January 2022 and 31 December 2022|1,001|1,001| |NET BOOK VALUE| |At 31 December 2022|1,001|1,001| |At 31 December 2021|1,001|1,001|

----- End of picture text -----

17 STOCKS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|Charity| |2022|2021|2022|2021| |£|£|£|£| |Finished Goods|1,916|-|-|-|

----- End of picture text -----

28

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

18 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed from group undertakings
Other debtors
VAT
Prepayments and accrued income		 2022
2021
2022
2021
£
£
£
£
4,867
10,110
1,174
800
- -
0
834
4,395
1,488
4,395
1,488
- -
904
1,338
5,245
4,225
4,795
2,197
14,507
15,823
11,267
6,657
Group
Charity

19 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans
Trade creditors
Social security and other taxes
Other creditors
VAT
Accrued expenses		 2022
2021
2022
2021
£
£
£
£
10,648
10,648 - -
22,746
22,756
6,265
1,436
12,355
8,142
1,089
491
2,699
2,128
514 -
4,724
4,225 - -
11,950
8,965
4,350
3,910
Group
Charity
65,122
56,864
12,218
5,837
CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR
Bank loans		 2022
2021
2022
2021
£
£
£
£
64,386
96,194
40,198
49,854
Group
Charity

20 CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR

29

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |21|MOVEMENT IN FUNDS| |Incoming|Resources| |Group|At 1.1.22|Transfers|At 31.12.22| |resources|expended| |£|£|£|£|£| |Unrestricted funds| |General fund|106,939|904,535|(926,628)|(566)|84,280| |106,939|904,535|(926,628)|(566)|84,280| |Restricted funds| |-| |Positive Pathways|14,574|(4,374)|(10,200)| |Aviva Crowdfunding|509|(509)|-| |Local Youth Grant|4,500|(4,500)|-| |Loo Block - Tidworth Area Board|12,307|(5,306)|5,666|12,667| |Tidworth Area Board|3,895|3,895| |-| |Tackling Inequalities|(3,754)|(1,346)|5,100| |Afghan Programme|17,500|17,500|(29,976)|5,024| |-| |Draper's Charitable Fund|7,893|6,315|(14,208)| |Get Out Get Active|4,500|(4,500)|-| |Positive Pathways - Horseback UK Grant|77|5,000|(5,077)|-| |-| |Bernard Sunley|2,500|(2,500)| |Veterans Foundation|30,000|(4,001)|25,999| |Invictus Games|28,904|(28,904)|-| |-| |ABF Soldiers Charity - Equine Assisted Recovery|33,100|(33,100)| |SJP Grant for Equine Therapy Course|10,000|(8,071)|1,929| |HorsePower dinner|38,927|(33,341)|5,586| |-| |Wiltshire Council - Arena Lights|2,000|2,000| |62,001|174,246|(179,713)|566|57,100| |TOTAL FUNDS|168,940|1,078,781|(1,106,341)|-|141,380|

----- End of picture text -----

30

Armed Forces Equine Charity Notes to the Financial Statements for the Year Ended 31 December 2022

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |21|MOVEMENT IN FUNDS - continued| |Incoming|Resources| |Charity|At 1.1.22|Transfers|At 31.12.22| |resources|expended| |£|£|£|£|£| |Unrestricted funds| |General fund|140,827|28,023|(66,676)|(566)|101,608| |140,827|28,023|(66,676)|(566)|101,608| |Restricted funds| |-| |Positive Pathways|14,574|(4,374)|(10,200)| |Aviva Crowdfunding|509|(509)|-| |Local Youth Grant|4,500|(4,500)|-| |Loo Block - Tidworth Area Board|12,307|(5,306)|5,666|12,667| |Tidworth Area Board|3,895|3,895| |-| |Tackling Inequalities|(3,754)|(1,346)|5,100| |Afghan Programme|17,500|17,500|(29,976)|5,024| |-| |Draper's Charitable Fund|7,893|6,315|(14,208)| |Get Out Get Active|4,500|(4,500)|-| |Positive Pathways - Horseback UK Grant|77|5,000|(5,077)|-| |-| |Bernard Sunley|2,500|(2,500)| |Veterans Foundation|30,000|(4,001)|25,999| |Invictus Games|28,904|(28,904)|-| |-| |ABF Soldiers Charity - Equine Assisted Recovery|33,100|(33,100)| |SJP Grant for Equine Therapy Course|10,000|(8,071)|1,929| |HorsePower dinner|38,927|(33,341)|5,586| |-| |Wiltshire Council - Arena Lights|2,000|2,000| |62,001|174,246|(179,713)|566|57,100| |TOTAL FUNDS|202,828|202,269|(246,389)|-|158,708|

----- End of picture text -----

31

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

21 MOVEMENT IN FUNDS - continued
Group - Comparatives
Unrestricted funds
General fund
Restricted funds
Positive Pathways
Coming Together
Aviva Crowdfunding
Local Youth Grant
Loo Block - Tidworth Area Board
Tidworth Area Board
Tackling Inequalities
Equine Therapy
Afghan Programme
Draper's Charitable Fund
Get Out Get Active
Positive Pathways - Horseback UK Grant
TOTAL FUNDS
Charity - Comparatives
Unrestricted funds
General fund
Restricted funds
Positive Pathways
Coming Together
Aviva Crowdfunding
Local Youth Grant
Loo Block - Tidworth Area Board
Tidworth Area Board
Tackling Inequalities
Equine Therapy
Afghan Programme
Draper's Charitable Fund
Get Out Get Active
Positive Pathways - Horseback UK Grant
TOTAL FUNDS		 At 1.1.21
Incoming
resources
Resources
expended
Transfers
At 31.12.21
£
£
£
£
£
188,039
798,232
(879,332)
106,939
188,039
798,232
(879,332)
-
106,939
18,830
35,000
(39,256)
14,574
2,500
-
(2,500)
-
1,514
3,429
(4,434)
509
17,500
(13,000)
4,500
22,118
(9,811)
12,307
7,600
(3,705)
3,895
8,000
(11,754)
(3,754)
9,250
(9,250)
-
17,500
-
17,500
9,999
(2,106)
7,893
4,500
4,500
10,000
(9,923)
77
22,844
144,896
(105,739)
-
62,001
210,883
943,128
(985,071)
-
168,940
At 1.1.21
Incoming
resources
Resources
expended
Transfers
At 31.12.21
£
£
£
£
£
213,533
99,041
(171,747)
-
140,827
213,533
99,041
(171,747)
-
140,827
18,830
35,000
(39,256)
14,574
2,500
-
(2,500)
-
1,514
3,429
(4,434)
509
17,500
(13,000)
4,500
22,118
(9,811)
12,307
7,600
(3,705)
3,895
8,000
(11,754)
(3,754)
9,250
(9,250)
-
17,500
-
17,500
9,999
(2,106)
7,893
4,500
4,500
10,000
(9,923)
77
22,844
144,896
(105,739)
-
62,001
236,377
243,937
(277,486)
-
202,828

32

Armed Forces Equine Charity Notes to the Financial Statements for the Year Ended 31 December 2022

21 MOVEMENT IN FUNDS - continued

Armed Forces Covenant Fund Trust - Positive Pathways Programme - This grant supported a Veterans Polo Project for Veterans to promote positive Mental Health through participation and interaction with polo events and activities.

Armed Forces Covenant Fund Force for Change Programme - . This grant supported the Health and Wellbeing of the Serving Soldiers and their Families serving in and around Tidworth, Nether Avon and Bulford Garrison during the height of the COVID Pandemic.

Aviva Crowdfunding - This was a charity led crowdfunding activity that supported the purchase of a winch that supports the mounting onto horses/ponies those who as a result of disability need this assistance.

Tidworth Area Board Local Youth Grant - This was a Wiltshire Local Area Board grant aimed at providing Equine assisted Learning for children and young people of the Tidworth Area Board who had become disengaged from school/education.

Army Central Fund - Loo Block Project - This grant supported the refurbishment of the Toilet facilities and workshop at the Tedworth Equestrian Centre.

Armed Forces Covenant Fund Trust – Forces For Change Programme - Local Youth Gran t. This grant supported our delivery of Equine Assisted Leaning to Wellington Academy for those who had become disengaged from school.

WASP - Tackling Inequalities - This was a grant from Wiltshire and Swindon Sports Partnership (WASP) that helped deliver a virtual equestrian centre that provided free access to individuals who otherwise would not be able to get physically to an equestrian centre to learn about equine matters. It also included health and wellbeing (fitness) sessions aimed at improving the strength and conditioning of individuals in COVID period.

Armed Forces Covenant Trust - Supporting veterans and families impacted by the Afghanistan conflict programme . This was a Grant that supported our work to assist those who were impacted by the events of Afghanistan drawdown through the provision of an Armed Forces Community Hub/Café that acts as a Welfare centre.

Drapers' Charitable Fund - This was a grant from the Drapers Livery Company that supports the delivery of equine assisted services to Veterans challenge by PTSD.

WASP - Get Out Get Active - This is a grant from the Wiltshire and Swindon Sports Partnership (WASP) that supports equine assisted services to the elderly in Wiltshire.

Veterans Foundation. The Veterans' Foundation helps fund charities and other charitable organisations that are helping serving and former members of the Armed Forces, and their dependants, who are in need. This grant supported the employment of a Charity Operations Manager and a Charity Relationship Manager .

Invictus Games Foundation. The IGF are the Portfolio Lead for a n Armed Forces Covenant Trust funded programme known as the Veterans People , Places and Pathways (VPPP). Alongside 8 other projects in the Southwest of England this grant enabled us to deliver an eco-system of events and activities that supported the health and wellbeing (both physical and mental) of military Veterans.

33

Armed Forces Equine Charity Notes to the Financial Statements

for the Year Ended 31 December 2022

21 MOVEMENT IN FUNDS - continued

ABF Soldiers Charity - Equine Assisted Services Project. This grant supported the delivery of Equine Assisted Services to serving personnel who are seriously wounded, injured and sick and under the care of the MODs permanent recovery centres in Yorkshire and Wiltshire.

SJP Grant – Veterans Equine Assisted Services Project. This grant supported the delivery of Equine Assisted Services to 10 military Veterans at high risk through a one-week residential recovery course.

Horse Power dinner . This was a fundraising dinner help at Drapers Hall in London where ticket sales, auction lots and raffle prizes generate income to support our Equine Assisted Services Programme.

Tidworth Area Board – Floodlighting Project. This grant supported the floodlighting of our outdoor arena at Tidworth Equestrian Centre.

34