Charity numb•r: 1203209 HORSES FOR WELLBEING CIO UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
HORSES FOR WELLBEING CIO CONTENTS Page R8fér•n¢e and admlnlstrative details of the charty, its Trustéés and advlsers Trustees, report Ind8pandent •xarninerf5 report Statement of financial activities Balance shoot Note5 to the financial statements 10-19
HORSES FOR WELLBE114G CIO REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 AUGUST 2024 Trustees L A Withers lappointed 23 May 20231 S Carter lappoinled 23 May 20231 J Chablani (appointed 24 November 20231 E Chesworth lappoinled 23 May 2023. resigned 2 October 2024) Charlty règl$tered number 1203209 Prlncipal officg Aston House, Comwall Avenue, London, N3 1LF Page 1
HORSES FOR WELLBEING CIO TRUSTEES. REPORT FOR THE PERIOD ENDED 31 AUGUST 2024 The Trustees present their annual report together wlh the financial statements of the charity for the period 23 May 2023 to 31 August 2024. Obloctlves and activities a. Policies and obj•¢tlv•$ The objects for which the charity is established for the benefit of the public are the relief of need of young people who have leaming, emotional, social and behamoural, mentsl health or 50cial or economic difficulties through the provision of equine therapy and the provision of horse riding facilities. In setting objectives and planning for aclivilies, the Tru51ees have given due consideration to general guidance published by the Charity Commission relating lo putAic benefit, including the guidance 'Public benefit.. running a chanty IPB21'. b. Strat•gles for achlevlng objectives The charrty works to achieve its objectives through the followng key areas.. 1. Equlne Therapy Programmes.. Delivering $lructured equine therapy 5ession5 tailored to the unique needs of children with learning. emots"onal, social. and behavioural challenges. These programmes provide a safe and supportive environment for personal growth. 2. Building Communlty Relationships". Partnering with local schools, social seMce8, NHS professionals, and community organisalions lo expand the reach and impact of our services. 3. Increasing Accessibility.. Offering a mix of paid, sub5idi5ed, and bursary-supported sessions to ensure that children from all financial backgrounds can benefit from equine therapy. 4. Innovative Facilities.. Oeveloping unique resources, such as the UK'S first sensory room al an equine facility, to cater to children with sensory processing need$, lunded by the Screwfix Foundation. 5. Sustalnability and Growth." Actively seeking funding through grants, community support, and innovative fundraising inilialives lo ensure the sustainability and expansion of our programmes while prioritising the welfare of the horse5. Page 2
HORSES FOR WELLBEING CIO TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 AUGUST 2024 Oblectlves and activities (continued) c. A¢tlvltl•s undertaken to achieve objectives During the period the charity has undertaken acts"vilie3 lo achieve its objectives such as.. 1. Programme Delivery.. Delivered weekly equine therapy sessions lo over 130 children through referrals from schools, social services, and parents since January 2023. 3. Communlty Engagement Events.. Collaborated rith prograrnrnes like the Holiday Aclivibes and Food IHAFI inilialive, running fully booked summer activities and taken part in variou5 local events to raise awareness. 4. Staff Training.. Conducted regular stsff training sessions, including introductory training wf(h LEAP, to rnaintain high-quality programme delivery. 5. Infrastructure Davalopmont.. Started developing a Sensory room to enhance support for children Mlh diverse needs, rnaking the charity a pioneer in specialised equine therapy. 6. Partnership Building. Established partnerships wrth MO than 10 schoo15 and local organisalions. including Active Gloucester, Barnwood Trust and NHS referrals, lo reach more beneficiaries. d. Main activities undertaken to further the charity's purposes for the public benefit Therapeutic Services.. Providing iargeted equine-facililaled learning for children who lack access to alternative therapies, emphasising mental health and emolional well-being. 2. Inclusiv8 Envlronment.. Creating a welcoming space where children can build confidence, improve emotional regulation, and fosteT resilience through interaction with hor$es. 3. Accessibility and Affordability Ensuring financial inclusivity through a mix of full-price and bur5ary- supported programmes, SLJPPOrted by gran15 frorn organisalions such as the Barnwood Trust, Morrisons and Albert Hunt Trust 4. Research and Advocacy.. Advocating for cOgnIS1g equine therapy as a viable intervention by collecting and sharing data on its positive impact on children's lives. 5. Community Collaboration.. Strengthening lies wlh local stakeholders to broaden awareness and enhance the charity'5 reach and impact. Page 3
HORSES FOR WELLBEING CIO TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 AUGUST 2024 Achlovements and perfomiance . Main achievom¢nts of the charity 1. Impact on Beneficiaries.. Supported over 130 children Since January. wth 100% reporting improvements in emotional well-being and 97% feeling calmer and moTe confbdent post-session. 2. Innovative Projects.. Secured £5,000 from the Scre¥rfix Foundation for a Sensory room, enhancing services for children wlh sensory needs. 3. Strong Partnarships.. Collaborated with more than 10 schools and multiple organisations. including NHS professionals and social workeTS, lo increase accessibility. 4. Successful Summer Progrdmmes.. Provided aclNilies and meals to 60 children over four week3, with sessions fully booked wthin hours of opening. S. Financlal Sustsinability.. Exceeded income projections for the year, achieving a surplus through prudent financial management and successful grant applications lotslling over £31,000. 6. VOluntr Gr¢>wth". Recruited 4 new volunteers to support programme delivery, ensuring sustainability as demand grows. 7. Community Recognition.. Gained media coverage through SoGlos Media, Colswolds Women Radio. and local ouuets, raising awareness of the charity's Work and impact. Financial rèvlew a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectats'on 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 stalemenly. Further details gardIng the adoption of the going concern basis Can be found in the accounting policies. b. Reserves policy Horses for Wellbeing aspires lo hold 3 months of operating cos15 as a reserve to ensure the sustainability of the Charitable Incorporated Organisation during a time of unexpectedly low Income or increased expenditure. Horses for Wellbeing will always hold restricted ftjnds in 8ddrtion lo this sum. These are held for specrfic activities and their use 15 5ts"pulaled before their arrival. The ReSee funds are designated funds, i.e. agreed by the Trustees as being held for specific purposes. structurn. governance and management a. Constitution Horses for Wellbeing CIO is a registered charity. number 1203209. and is constituted under a Charity Commission Scheme. Page 4
HORSES FOR WELLBEING CIO TRUSTEES. REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 AUGUST 2024 Stru¢tur•, governancè and m8na9em•nt Icontinuedl b. Method5 of appolntment or election of Tmslees The manag6ment of the Charity is the responslbility of the Tw51ees who afe ele¢led and c&opted under the terms of the Charity ComrnisSK)n Scheme Statarnent of Tru$tee$' responsibllltles The Trustees are responsible for preparing lh8 TrusteA%' report and the financial slalenients in aecord8n¢e wSlh applicable law and Unitod Kingdom Accounting Standards Iunitecf Kingdom Generally Accepted Accounting Praclieel. rhe law applicab18 to carilies in England & Wales r¢quirBs th8 Trustees lo pr6par8 fin8nci81 sta¢ements for 8ach financial p&rlod whlch give a true aThJ fair vièw of the state of affairs of the charity and ol ils incoming resources and applicalion of resources, includin9 115 income and 8XP8nditurè. lor that perlod. In preparing thes8 financi81 slalemenls, th& Tru8t8e$ are requlred to.. select sui18b18 acoounting pdicies and Ihgn apply them consistently.. observ8 the methods and principles of the Chariti85 SORP IFRS 1021., make judgmènts and ac¢ounling es11a18S Ihal are reasonabl8 and prudent.. State whelher applicable UK Accounbng Stadards IFRS 1021 hav? been followed, subject to any material d6partures disclosed and 6xplain8d in the financial sla18menls', prepa the financi81 statements on the going concern basis unt8ss it is inappropriale to presume that the Charity will continue In business. The Trustees are résponsible for keeping adequate a¢¢ouNting records that are sullicienl to show and explain the charills transactions and disclos& with reasonable accuracy at any tlrne the financial position of the charity and enable Ihetn to ensure that the financi81 ststemenls comply Mrilh the Chafilies Act 2011. the Charity (Account5 and RerIs} Regulali¢Ms 2008 and the provisions of ltte Charty Commission Schème. They are also r8sponsiO f safeguarding the assets ol the charrty and hence lor taking r8asonable steps ftr tha pr8V8nlio and detection of fraud and other IrregularlIes. Approved by order of the membws of the board of Trustees and signed on their behalf by. L A Wlth•r8 Date. D3- oY- 2OLS.
HORSES FOR WELLBEING CIO INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENOED 31 AUGUST 2024 Independent examinér's r8port to thè Trustees of Hor5e$ for Wellbeing CIO I'the charity'l I report to the charity Trustees on my examination of the accounts of the charity for the period ended 31 August 2024. Responsibilities and basls of rgport As the Trustees of the charity you are responsible for the preparats'on of the accounts in accordance wth the requirements of the Charities Act 20111.lhe 2011 Acl'l. I report in respect of my examination of the charity's accounts carrieil out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 1451Sllbl of the 2011 Act. Ind8pandont èxamlnor's statement Since the charity's gross income exceeded £250,000 your examiner musl be a mernber of a body listed in section 145 of the 2011 Act. I confimi that l am qualrfied to Ljndertake the examination because l am a member of the In51ilute of Chartered Accountants of England and Wales. which is one of the listed bodies. Your attention is drawn to the fact that the charity ha5 prepared the accounts in accordance with Accounting and Reporting by Charits'es.. Statement of Recommended PTathce applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities". Slaternent of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been vAthdrawn. l unilerstsnd that this has been done in order for the accounts to provide a true and fair Mew in accordance wlh the Generalty Accepted Accounting Prath"ce effective for reporb'ng periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matter5 have corne lo my attention in connection with the examination giving me cause to believe that in any material respect.. accountrng records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the ac¢ounls do not accord wsth those record5,' or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirernenl that the accounts give a 'true and lair, view which is not 3 matter considered as part of an Independent exarninalion. I have no con¢em5 and have come acTOSS no other mallers in connection with the examination lo whith attention should be drawn in this report in order lo enable a proper understanding of Ihe accounts to be rea¢hed. Page 6
HORSES FOR WELLBEING CIO INt)EPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 AUGUST 2024 This report is made solely to the charity's Trustees, as a body, in accordance wlh Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the charitls Tfuslees those matters l am required to stsle lo them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work OT for thi5 report. Signed.. Dated.. Sarah Gatt FCA CTA Adler Shine LLP Chartered Accounlanls Page 7
HORSES FOR WELL8EING CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2024 Unrestricted Rgstrlcted Total funds funds funds Period ended Period ond•d Pèriod endgd 31 August 31 August 31 A4Jgust 2024 2024 2024 Income from: Donations and legacies Charitable activities Investments 198,466 26,780 2,001 31.808 230,274 26,780 2,001 Total incorne 227,247 31.808 259,055 Expenditure on: Raising funds Charitable activities 3,141 110,S40 3,141 129,459 18.919 Totsl expendlturt 113,681 18.919 132,600 Net Income Transfers between funds 113,S66 953 12.889 19531 126,455 15 Net movement in funds 114,519 11.936 126,455 Reconciliation of funds: Net movement in funds 114,S19 11,936 126,455 Total funds carried fobvArd 114,519 11.936 126,455 The Statement of financial activities Includes all gains and1055e5 recognised in the period. The notes on pages 10 to 19 fom part of these financial ststements. Page 8
HORSES FOR WELLBElhlG CIO BALANCE SHEET AS AT 31 AUGLJST 2024 2024 Note Fixed asset5 Tangible assets Current assets 12 67,796 Oeblors 13 88,860 7,227 Cash at bank and in hand 96,087 Creditors." amounts falllng due within one year 14 137,4281 Net current a$set$ 58,659 Total net assets 126,455 Charity funds ReslriLlerl fuTid 15 15 11,936 114.519 Unrestricied funds Total funds 126,4SS The financial slatemenls were approved and aulhorised lor issue by the Trustees and 51gned on their behalf by. Ithers Date.. Zc•ZS Th8 notes on pages 10 tc$ 19 form part of these financial slalement$.
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Gengrol Infom)atlon Horses for Wellbeing CIO is a chaTity incorporated in England and Wales under the Charities Act 2011. Its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The financial statements are presented in Sleding (£1, rounded to the nearest £1. Accounting policl8s 2.1 Basis of preparation of financlal statetnents The financial stalernents have been prepared in accordance with the Charibes SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'lrue and fairf v¢ew and have departed from the Charities (Accounts and Reports) Regulation5 2008 only to the extent required to provide a 'lrue and fair. view. This departure has involved following the Charities SORP IFRS 102) published in October 2019 rather than the Accounting and Reporting by Charities." Slaternent of Recommended Practice effective frorn 1 April 2005 vhiich has since been wlhdrawn. Horses for Wellbeing CIO meets the definition of a publi¢ benefit entity under FRS 102. Assets and liabilities are initially recogni5ed at historical cost or transaction value unless olherw5e staled in the relevant accounting policy. 2.2 Going conc&m The trustees consider that there are no material uncertainties about the charily's ability lo continue a5 a going concern. 2.3 Income l incorne is recognised once the charity has entidemenl lo the income, il 15 probable thal the income ill be received and the amount ol income receivable can be measured reliably. Grants aTe included in the statement of financial activities on a recelvable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of enlillemenl of receipt, its recognition is deferred and included in creditors as deferred income. Where entsllernenl occurs before income is received, the income is accrued. Where the donated good is a fixed asset, Il is measured at fair value. unless il is irnpraclical lo measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate rixed asset class and depreciated over the useful economic lrfe in accordance wth the charity's accounting policies. On receipt. donated professional services and facilities are recognised on the basis of the value of the gift to the charity thich is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.. a corresponding amount is then recognised in expenditure in the period of receipt. Page 10
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 A¢¢ounting policies Icontinuedl 2.4 Expandlture Expenditure is recogni$ed once there 15 a legal or constructive obligation to transfer economic benefil to a third party, 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 classified by activty. The costs of each activity are made up of the total of direct costs and shared cosls, including support Costs involved in undertaking each activity. Direct C05ts attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support cosls which are not attributable lo a sing5e activity are apportioned belween those aclivrties on a basis consistent urith the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on rai&ng funds include5 all expenditure incurred by the charity lo raise funds for its charitable purposes and includes costs of 811 fundraising acliwties events and non-charitsble trading. Expenditure on charitable acts'vities is inCUrd on directly undertaking the activib'es which further the charity's objectives, as well as any associated support costs. l expenditure is inclusive of irrecoverable VAT. 2.5 Intèrnst r¢¢eivoble Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charily., this is normally upon nolificalion of the interest paid or payable by the institution ilh whom the funds are deposited. 2.6 Tangible fixed assets and d•pre¢latlon Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accurnulated irnpairmenl losses. All c051s Incurred lo bring a tangible fixed asset into its intended Working condib'on should be included in the measurement of cost. Depreciation is charged 50 as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful Itves, using the straight-line method. Depreciation is provided on the followng bases.. Short-temi leasehold property Fixtures and fi'ttings Other fixed assets 8 year5 straight line 3 year5 straight line Over the remaining expected useful economic lrfe 2.7 Debtor5 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the arnount prepaid net ol any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and Short-lenn highly liquid investments with a short matunty trf three month5 or less from the date of acquisition or opening of the deposit or similar account. Page11
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Accounting policies Icontinuodl 2.9 Liabilitle$ and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of econornic benefit will be required in setilement, and the amount of the setuement can be eslimaled reliably, Liabilities are recognised at the amovnl that the charity anlicipales il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services il must provide. Prowsions are measured al the best estimate of the amounts required 10 Settle the obligation. Where the effect of the time value of rnoney is material, the provision is based on the present value of those amounts. discounted al the pre-tax discount rate that reflects the risks specific lo the liability. The unwnding of the discount IS Tecogriised in the statement of financial activities as a finance cost. 2.10 Financial instrumènts The charity only has financial assets and financial liabilities of a kind that qualify as ljasic financial inslrurnenls. Basic financial instruments are initialty recognised at transaction value and subsequently measured at their settlemenl value wth the eKGeplion of bank loan5 which are subsequently measured at amortised cost using the effective interest method. 2.11 Ponsion$ The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity lo the fund in respect of the period. 2.12 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Reslricled funds are funds which are lo be used in accordanee wlh Specific restrictions Imposed by donors or which have been raised by the charity for particular putpose5. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is Set out in the notes to the financial statements. Investment income, gains 8nd105ses are allocated to the appropriate fund. Page 12
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Income from donations and 1ogacl•s Unrestricted R8strict•d funds funds Period Period ended ondad 31 August 31 August 2024 2024 Total funds Perlod ended 31 August 2024 Donab'ony Grants 198,466 198.466 31.808 31,80B 198,466 31,808 230,274 Income from charitable a¢tlvltles Unrestricted Total funds funds Period Period ond•d ended 31 August 31 August 2024 2024 Income from charitable activities- Equir>e assisted learning 26,780 26.780 Investment incomo Unrestricted Total funds funds Period Period ended ended 31 August 31 August 2024 2024 Investrnent income- local investment properties Investrnent in¢ome- local cash 2.000 2,000 2,001 2,001 Page13
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Expgnditure on raising funds Fundraising axp8nse8 Unr&$trlct&d funds Period ended 31 August 2024 Total funds Period endad 31 August 2024 Fundraising and governance costs 3,141 3,141 Analysis of expenditur8 on Charitable activities Summary by fund typ8 Unrestricted funds Period ?nded 31 August 2024 Restricted funds Totsl Period Period ended ended 31 August 31 August 2024 2024 Equine assisted learning 110,540 18,919 129.459 Analysis of oxp8ndituro by actlvltles Activities undertaken directly Period ended 31 August 2024 Support Total costs fund$ Period Perlod ended •ndgd 31 August 31 August 2024 2024 Equine assisted leaming 119,532 9,927 129.459 Page 14
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Analysis of gxpondlture by actlvltles Icontinuedl Analysis of direct costs Totsl fund5 Pariod èndgd 31 August 2024 Stsff costs Depreciation Course session costs Equine expenses Staff training and licensing Facility repair and maintenance Advertising and marketing Postage, printing and stslionery Insurance 45.674 5.255 15,107 16,740 12,587 6.562 2.962 621 3,162 S16 IT software and consumables Travel Finance costs Rent expenses 1.113 17 9,216 119,532 Analy$ls of support costs Total fund5 Period ended 31 August 2024 Accountancy fees Governance costs 6.927 3.000 9,927 Page 15
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Indepgndont axamlner's rornuneration Period ended 31 August 2024 Fees payable to the chaTIIy'5 independent examiner for the independent examination of the charity's annual accoLJnls Fee5 payable to the charity's independent examiner in respect of.. All other services not included above 3,000 2.SOO 10. Staff costs Period ended 31 August 2024 Wages and salarie5 Social security costs Contribution to defined contribution pension schemes 40,000 4,282 1,392 45,674 The average number of persons employed by the charity during the period was as follows.. Period ended 31 August 2024 No. CEOllead facilitator No employee received remuneration amounting to more than £60,000 in either year. 11. Twst•fr$' remuneration and expenses During the period, no Trustees received any remuneration or other benefits. DuTing the period ended 31 Aijgusl 2024, expenses totalling £194 were reimbursed or paid directly to 2 Trustees. These were for travel expenses incurred while undertaking meetings on behalf of the ¢hanly. Page 16
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 12. Tangible fixed ass•ts Short-tefm leasehold Fixtures and Other fixed propèrty fittings assets Total Cost or valuation Additions 65.658 5,393 2.000 73.051 At 31 August 2024 65.658 5.393 2.000 73.051 Depreciation Charge for the period 4.788 215 252 5.255 At 31 August 2024 4.788 215 252 5,255 Net book value Al 31 August 2024 80,870 5.178 1.748 67,796 13. Oèbtoro 2024 Due within one year Trade debtors Prepayments and accrued income 6.360 82,500 Page 17
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 14. Credltors: Amounts falling due within ong ar 2024 Other loans Trade creditors Amounts owed to group undertakings Other taxalion and social security Other creditors 24.879 682 1.500 1,964 2.603 5.800 Accruals and deferred income 37.428 Included in creditors within 1 year is a loan of £26,379. This loan is interest free and repayable once the charity reaches its reserves goal of holding 3 months of operating costs. ststem•nt of funds Statement of fund$ - curr•nt period Balance at 31 August 2024 Transfer$ inlout Income Expenditure Unr8strl¢t•d funds General funds 227,247 1113,6811 953 114,519 Restricted funds BaTrNood Trust Screwfix Foundation National Lottery Community Fund Albert Hunt Trust Sported Foundation Holiday and Activities Food Programme 10,000 5,000 13,724 2,000 1,000 84 13,92SI {1391 112,7261 12,0401 6,075 4.861 19981 40 1,000 (891 31,808 118,9191 {9531 11.936 Totsl of funds 259,OSS {132.6001 126,4SS Page 18
HORSES FOR WELLBEING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 16. Analysls of net assets between fund5 Analysis of not ass8t$ batwè•n funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets 62,935 89,012 137,4281 4,881 7,075 67.796 96.087 137.428) Creditors due within one year Total 114,519 11,936 126,455 17. Panslon commitments The chartty operates a defined contribution pension scheme. The assets of the scherne are held separately from those of the group in an independently administered fund. The pension cost charge Tepresenls contribuiions payable by the charity lo the fund and amounted to £1,392. £278 was payable to the fund at the balance sheet date and is included in creditors. 18. Operating lease commitmgnts On 12 December 2023 the charity entered into a 10 year lease granted over the property frorn lch operates, at the annual rent of a peppercorn. 19. Related party tran$a¢tlon8 S Carter, a trustee of the charity undertook the premises development work through his business Regal Eslales & Developments Ltd. These works were agreed to have been carried out on an ami's length basis and disclosed as required by the Board of Trustees. Wesko Equestrian Foundation Ltd, a charitsble Company wlh shared trustees, granted a 10 year lease to the charity al the under-market rent of a peppercorn annually. A donation of £12,000 has been recogni5ed as the arms-length value of the rental value. Page 19