'Let's talk"
mental health
## **REPORT AND ACCOUNTS**
**FOR THE PERIOD 16 FEBRUARY TO 31 NOVEMBER 2022**
**FOR RIDERS MINDS**
## **RIDERS MINDS**
## **REPORT AND ACCOUNTS FOR THE PERIOD 16 FEBRUARY 2022 TO 31 NOVEMBER 2022**
## Table of Contents
Reference and Administrative Information .............................................................................. 4 Welcome from Victoria Wright ................................................................................................ 5 Structure, Governance and Management ................................................................................ 6 Objectives and Activities for the Public Benefit ....................................................................... 7 Achievements and Performance .............................................................................................. 7 Trustees’ Responsibilities in Relation to the Financial Statements .......................................... 8
## **RIDERS MINDS**
## **REPORT AND ACCOUNTS FOR THE PERIOD 16 FEBRUARY 2022 TO 31 NOVEMBER 2022**
## Reference and Administrative Information
|Registered Charity Number:|1197938|1197938|
|---|---|---|
|Date of Registration:|16 February 2022||
|Registered Address:|The Dove Cote||
||Mattersey Road||
||Lound||
||Retford||
||DN22 8RW||
|Website:|https://ridersminds.org||
|Trustees:|||
|Victoria Wright|Chair|
Appointed 16thFebruary 2022|
|Michael Wood-Williams|Trustee|
Appointed 16thFebruary 2022|
|Alexandra Peace-Gadsby|Trustee|
Appointed 16thFebruary 2022|
|Rachel Wynne|Trustee|
Appointed 16thFebruary 2022|
|Craig Morris|Trustee|
Appointed 16thFebruary 2022|
## **WELCOME FROM VICTORIA WRIGHT**
It is with great pleasure and pride that the Trustees and I submit the first set of Report and Accounts for Riders Minds. Originally incorporated as a Community Interest Company (a not for profit), we have responded to the growing, urgent needs amongst the equestrian sector and have converted to a Charity, enabling us to work directly as ‘Charity of the Year’ with key partners.
The work of the Charity continues to develop, from the addition of a text service as well as the helpline through to the ever-increasing championing of mental health across key stakeholders for all those who work within or enjoy the equestrian sector for leisure.
From social media to the UK Parliament, we’re using our platform to make sure the need of equestrians is heard and that mental health is supported. We are grateful to all those who are with us on that journey.
**Victoria Wright, Chair**
## **TRUSTEES REPORT FOR THE PERIOD 16 FEBRUARY 2022 TO 31 NOVEMBER 2022**
The Trustees present their annual report together with the financial statements of the charity for the period 16 February to 31 November 2022. The Trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Charity SORP FRS 102.
## **Structure, Governance and Management**
Riders Minds is a Charitable Incorporated Organisation with a Foundation model constitution. It was registered as a charity on 16 February 2022 and, as a result, this is the first Annual Report and Accounts for the charity.
## **Constitution**
The charity is a charitable incorporated organisation, number 1197938, and is constituted under a CIO Foundation registered 16 February 2022.
## **Recruitment and Appointment of the Board of Trustees**
Riders Minds currently has a Board of 5 members, from a variety of professional backgrounds relevant to the work of the charity, who meet quarterly and are responsible for the strategic direction and policy of the charity.
Every Trustee must be appointed by a resolution at a properly convened meeting. The charity strives to ensure that Trustees have the relevant skills, knowledge and experience required for the effective administration of the charity. New Trustees are usually identified from both within and outside of the equestrian community, to ensure there is independent objectivity, and are asked to declare any conflicts of interest.
The induction process for any newly appointed Trustee comprises an initial meeting with the Board of Trustees and receipt of a copy of the constitution, copy of the most recent annual report and accounts, copy minutes of previous Trustees’ meetings and a copy of the charity commission guidance ‘The Essential Trustee’.
## **Pay policy**
The Charity does not employ staff and the Trustees have waived any entitlement to remuneration for their services.
## **Related party relationships**
No charity Trustee or connected person may:
(a) buy or receive any goods or services from the CIO on terms preferential to those applicable to members of the public;
(b) sell goods, services, or any interest in land to the CIO;
(c) be employed by, or receive any remuneration from, the CIO;
- (d) receive any other financial benefit from the CIO;
Riders Minds Trustees must declare the nature and extent of any interest, direct or indirect, which he or she has in a proposed transaction or arrangement with the CIO or in any transaction or arrangement entered into by the CIO which has not previously been declared; and absent himself or herself from any discussions of the charity Trustees in which it is possible that a conflict of interest will arise between his or her duty to act solely in the interests of the CIO and any personal interest.
## **Risk management**
The Board has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.
## **Objectives and Activities for the Public Benefit**
The objects of the CIO are: The relief of sickness and the promotion and protection of good health of people in the UK equestrian industry who are experiencing or who are at risk of experiencing mental illness of any description or in need of rehabilitation as a result of such illness, by the provision of support, education and practice advice, working to increase the understanding of mental health and mental health problems.
Our main objectives for the year continued to be to offer online resources to support mental health together with the provision of our dedicated online and telephone counselling services. The strategies we used to meet these objectives included providing a range of services which are reflective of relevant quality standards and address the potential problems related to mental health in the equestrian sector.
All our charitable activities focus on mental health support for equestrians and are undertaken to further our charitable purposes for the public benefit. Our objects and funding limit the services we provide to those resident in the UK and involved in the Equestrian Sector. The number of people accessing our services online is estimated at approximately [TBC]. Our counselling service deals with approximately 250 people per year. All our services are provided free to our clients. Equal access to our services is an important issue for us.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and have complied with their duties under the Charities Act 2011.
## **Achievements and Performance**
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes.
## **Reserves**
The Board has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. Budgeted expenditure for 2022/2023 is £30,000 and therefore the target is £15,000 in general funds. The reserves are needed to meet the working capital requirements of the charity and the Board are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
## **Investment policy and performance**
Aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent in the short term so there are currently negligible funds for long term investment. Having considered the options available, the board has decided to retain funds in the charity’s current account. A review of investment policies is therefore planned early in the new financial year.
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Financial risk management objectives and policies**
The Trustees are focused on both the preservation of financial resources as well as targeting income in accordance with our strategy.
## **Principal risks and uncertainties**
Key risks for the Charity are in relation to the uncertainty of income which is largely dependent on individual charitable giving, whilst income has remained at a healthy level, the Trustees are mindful of the potential impact of the cost of living crisis on individuals and their ability to continue to support our important work. The Trustees are pleased to report early success in relation to the diversification of income and have now agreed to develop a fundraising strategy.
The Trustees are mindful of high inflationary price rises and have therefore locked in the charity’s main expenditure for a 12 month period in order to mitigate any risk.
## **Plans for future periods**
There are no plans to change current charitable objectives or policies.
## **Trustees’ Responsibilities in Relation to the Financial Statements**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of Trustees on 14 September 2023 and signed on its behalf:
Victoria Wright
Chair of Trustees
**REGISTERED COMPANY NUMBER: 1197938 (England and Wales) REGISTERED CHARITY NUMBER: 1197938**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 NOVEMBER 2023**
## **FOR**
## **RIDERS MINDS**
**RIDERS MINDS**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Statement of Financial Activities**|2|
|**Balance Sheet**|3 to 4|
|**Notes to the Financial Statements**|5 to 8|
|**Detailed Statement of Financial Activities**|9|
**RIDERS MINDS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of 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).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Riders Minds CIO is registered as a Charitable Incorporated Organisation (CIO). It is governed by a Constitution of a Charitable Incorporated Organisation.
The Charity trustees manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
1197938 (England and Wales)
## **Registered Charity number**
1197938
## **Registered office**
The Dove Cote Mattersey Road Lound Retford DN22 8RW
## **Trustees**
M Wood-Williams A Peace-Gadsby R Wynne C Morris V Wright
## **Company Secretary**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. V Wright - Trustee
Page 1
**RIDERS MINDS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023**
||||Period|
|---|---|---|---|
||||16.2.22|
|||Year Ended|to|
|||30.11.23|30.11.22|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies||18,807|17,144|
|Investment income|2|-|1|
|**Total**||18,807|17,145|
|**EXPENDITURE ON**||||
|Raising funds||26,735|10,864|
|**NET INCOME/(EXPENDITURE)**||(7,928)|6,281|
|**RECONCILIATION OF FUNDS**||||
|**Total funds brought forward**||22,469|16,188|
|**TOTAL FUNDS CARRIED FORWARD**||14,541|22,469|
The notes form part of these financial statements
Page 2
**RIDERS MINDS**
## **BALANCE SHEET 30 NOVEMBER 2023**
|2023
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
16,581
**CREDITORS**
Amounts falling due within one year
5
(2,040)
**NET CURRENT ASSETS**
14,541
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
14,541
**NET ASSETS**
14,541
**FUNDS**
6
Unrestricted funds
14,541
**TOTAL FUNDS**
14,541|2022
Total
funds
£
24,509
(2,040)
22,469
22,469
22,469
22,469
22,469|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or 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 company.
The notes form part of these financial statements
continued...
Page 3
**RIDERS MINDS**
## **BALANCE SHEET - continued 30 NOVEMBER 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. V Wright - Trustee
The notes form part of these financial statements
Page 4
**RIDERS MINDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023**
## **1. 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.
## **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.
## **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.
## **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.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
|||Period|
|||16.2.22|
||Year Ended|to|
||30.11.23|30.11.22|
||£|£|
|Deposit account interest|-|1|
Page 5
continued...
**RIDERS MINDS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the period ended 30 November 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the period ended 30 November 2022.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**ACTIVITIES**|
|---|---|
||Unrestricted|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|17,144|
|Investment income|1|
|**Total**|17,145|
|**EXPENDITURE ON**||
|Raising funds|10,864|
|**NET INCOME**|6,281|
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|16,188|
|**TOTAL FUNDS CARRIED**||
|**FORWARD**|22,469|
Page 6
continued...
**RIDERS MINDS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023**
|**5.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|---|
||||2023|2022|
||||£|£|
||Accruals and deferred income||2,040|2,040|
|**6.**|**MOVEMENT IN FUNDS**||||
||||Net||
|||At|movement|At|
|||1.12.22|in funds|30.11.23|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|22,469|(7,928)|14,541|
||**TOTAL FUNDS**|22,469|(7,928)|14,541|
||Net movement in funds, included in the above are as follows:||||
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|18,807|(26,735)|(7,928)|
||**TOTAL FUNDS**|18,807|(26,735)|(7,928)|
||**Comparatives for movement in funds**||||
||||Net||
|||At|movement|At|
|||16.2.22|in funds|30.11.22|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|16,188|6,281|22,469|
||**TOTAL FUNDS**|16,188|6,281|22,469|
continued...
Page 7
**RIDERS MINDS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023**
## **6. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|17,145|(10,864)|6,281|
|**TOTAL FUNDS**|17,145|(10,864)|6,281|
## **7. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 November 2023.
Page 8
**RIDERS MINDS**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023**
|**FOR THE YEAR ENDED 30 NOVEMBER 2023**||||
|---|---|---|---|
||||Period|
||||16.2.22|
||Year Ended||to|
||30.11.23||30.11.22|
||£||£|
|**INCOME AND ENDOWMENTS**||||
|**Donations and legacies**||||
|Donations|18,807||17,144|
|**Investment income**||||
|Deposit account interest||-|1|
|**Total incoming resources**|18,807||17,145|
|**EXPENDITURE**||||
|**Other trading activities**||||
|Purchases|24,590||7,911|
|**Support costs**||||
|**Finance**||||
|Bank charges||105|85|
|**Information technology**||||
|Sundries||-|828|
|**Governance costs**||||
|Accountancy fees|2,040||2,040|
|Total resources expended|26,735||10,864|
|**Net (expenditure)/income**|(7,928)||6,281|
This page does not form part of the statutory financial statements
Page 9