Company registration ￿￿&be[. 591781 Ch8rityrcgistrationnumb¢r. 211361 The Stables Trust Limited (A company lirnitvjby B￿aT￿￿tr•) AnttualRcport aDd Financial St8t¢mellts for tb¢YearEtkdrA 30 Septeuiber 2022 M8nningWIt 39 Higb Stre¢t Battle EB8t Sussex TN33 OBE The Stobles Trust Llmlted Contents R¢f¢rencE and Administrotiv¢Detalls Ttv8tee8' Report 2to5 StateuMto£Tru#¢eé Respon$il>ilitie8 1nde￿ndentBx8￿lllds R¢p¢xt Stat¢metttof Y￿¥ll¢M1 ArtlvitL 8t09 Balallce Sheet Ioto 11 Not¢5 tyth¢FiThancial St*ements 121021 The Stables Trust IAmited Referen¢¢ and Admlntstratlve Dttsib Trustses Neil Sellrw thaiThfjan Henti Hayler, Tr¢osur¢r HarrietD￿, Secretary Cliff Brook Mikr Willard David H￿dIng Yvonne Rtts Andr¢w White Colin Donn Frth I¢[￿$ ReglBtsred Office The StAbl¢s The Iligh Stseet Hastings Eost Sus5¢X TN34 3BY The¢harityi$ inwor8tvJ in England and Walw. 591781 CornpAny Reg15trnttoffj Number rlty R¢ trAtIoD Number 211361 Bankor8 NationalWe5¢minst# Bankpl lodE Ro Ha5tittgs TN34 IBW Hampshire Trust Bank PO Box 74003 London EC2P 2QR M¥nningtons 39 High Street Battle East Suvtsex Ind¢p￿denIExlmIll¢r Th33 OEE Pa8¢ 1 The Stabl¢> Trnst Llmlted Trnsteesl Report Th¢ tru8te¢4 who are dlrector$ for the purpose8 of corr4any law, wtsellt thE antwal r•rA)rt togeth* with the fiaan¢ial stst¢m¢lltsof th¢chaTitabk Compally for th¢yur ¢nd¢d 30 Sept¢mbrr 2022. ObJ¢ethfes and ￿1VIde$ ObJe¢ts•Mdakns The obie¢ts of th¢ tharity ar¢ thB prGs¢rv4tiCO of The Stabl¢s' iwilding and the education of the publi¢ irt tho drarAatic arf& Th¢ ¢barity owls and occupies lThe Stableg building. Havin8 illitlalty restor¢d tb¢ Ihffl d¢trli¢t Grad¢ 2• listed buildin8 and wiverted it into a theatre$nd arL8￿￿tr4 thccharltycorAtizwc$tt& mail￿aln and opwate it. ObJeedve4 sIMleRks 4nd qdlvldes The &trateBy of th¢ charity is to provide the pulAic with opporhjrtitiu to experienc¢ the dr&malio arts at all l¢vel vkn¢ther as dirtct participants or •udienc4 8Dd al offord&ble ¢051, Th¢ stsbleb v¢nu¢ i80pErated entirelyby volunleer members uod¢rt8ke all the tasks ￿Socia￿d a theatr¢ Jnd ottscentre, such ￿ stag¢ mallx8emioL 8Etdesi8n and buildi￿ ligbting #nd sound, Mrdrob¢ art Bally mattaBerAeni box offic4 b/r and front of how¢ duti¢s. For th4)se Mi6hing to act or dir￿¢ the thaTLtyhas an am&taW group which producrs 9-10 plays eath y¢ar to a very hi stgndard and is a ￿rnbEr of th¢ Little Thutre C￿lId of Gre&t BritaitL In addition to Ihe8¢ play4 towing and ¢Ah¢r professional proJuc(ions are sta8¢d, th¢ facilities ar¢ madr &vailabl¢ to other local amatqr and wmmumity groiip5, •rt ￿lbItIo￿ 8r¢l)¢ld eath month in th¢galloy and worknhop8 and otb¢r it¢ms are pro8r8mmd. Publ1¢ benefil The tru8t¢¢s confinn that they hav¢ complied with th¢ r¢qviretn¢nts of 17 of the Chiritie8 kn 2011 to hav¢ dueT¢8aTdto th¢ publi¢ benefit Buid&llcr publishcdby th¢ CbarityCimmi5sion for Bngl8nd and Wales. Struetsrfy And mAnag¢meot The Sthbl¢$ Tr￿ Limitcd is a company lithited by gu8T8nke 8ov¢rnd by its memorAttdum and articles of sociatloL 1¢ is ￿l$leted as a ¢haiity Vlitb th¢ Charity Commission. Attyone over th¢ age of 18 can b￿0th¢ a memb¢rofth¢ company and thore cufftnttyabout 1.800 member8. Trnstees ar¢ ¢iectd aTInU￿lY by tho memb¢r8 Qf the d>8Atwbl¢ rompany attenilinB the Ann¥81 a¢n¢rgl M¢etin& All m¢mb¢rs ar¢ circulatoj with invilations to nomin&l¢ t[￿t￿9 prierto the AGM advislng Ih¢m gf thB r¢ti¥in8 trwt¢¢s and requestingllomln8tions for the AGM. IiidMc¢loh ¢MINlngoflrMslees New tsustres undergo an orienlstioll sessioii to ￿lef them on their l¢Bal obli8ations und¢r charity8nd compgny law, th¢ ¢ont¢nt of th6 memorandum &rtd ￿ti¢lty of a880¢ialion, th¢ d￿lSIon proc¢8sqs, th¢ busitke85 platt ond recen¢ financial perrornw￿ of th¢ rhatity. They will b¢ 8xven a tour rf th¢ building &nd on outline of th¢ work of th¢ v8riw8 d¢pwtm¢n Pago 2 ThÈ Stables Trust Llmlted Trn$t¢esl Rtport AYMiwmelltslor$gttlngkey niouag8mulp¢rsonwelv¢muner￿l0•rt Th¢ ch#rity does uot ¢rnploy 8tty indivldual4 tru8te¢S 8nd key manageDKnt c¢mtributs thetr time oll a voluntary ba81& P•g¢ 3 The Stables Trnst Llmlted Trnste¢sl Report 0ry4nlsArftmalslruciiire The coNncil of managffjn￿t (the trustees) meets reBulaTly to adminits the charity. Day to day operati￿ of th¢ theatre is in thr hands of various d¢pllrtMa￿1 groups e4¢h of which h¥s a tru8t¢¢ linkto the couocil. Mqjorrlshs ofihose rls GeneralRIrtM4Magent*rtt The trnstees havt a risk strate￿whIch ¢omprise8 art ongoinB r￿l¢W of th¢risks th¢ Ch￿lty￿aY fa¢ th¢ establishment of sy8tems and pr￿¢thir¢S to mitiga* the idrntified risks,, and the iMpl￿￿￿tIM of procedure5 d¢si8n¢d to minim1￿ ￿ypOt¢ntjal impad on th¢ Fhgritythouldthos¢ risks materialis¢. Afhl¢vemwhts #Dd performan¢* Th¢ Stables Th¢¥tre stheduled a fvll season with no soBial restrictions 2021122. In hou$¢ stablm kwoduclion including Di81 M for Mwdtt, Run for Your Wife (which went on twr to Chl¢&BoUSA) Hay F¢v¢r, Who's Afraid of VirBini) Woolf (pla￿￿ in thcround) attd th¢muSi￿1 HoDk all pla￿1 to very en¢oura8iti8 audi¢n¢￿. Gallery Cott¢¢￿ attracted c•pacity audienc￿ duri08 Spring {ClassiLYI rDwi¢) and Awtwnn (PO￿1￿ music) providlngev¢nts and in¢om¢ for lh¢ theatre whilstth¢main spatt wos c105ed for geibuildill The new 8ooBle wwkspAce is being used to 8re4t effect for the t¢¢hnically staffing the theatr4 we would like to d¢v¢lop thi$ for Fo￿ Bar Box Office vol￿nterr& Mu6ic ¢ye￿I5 ¥¢ bringitig in anew audi¢ncett)tk¢ theatre Jnd ¥ well as the Art Gillowicert8. w¢ h&vchad thr sell out events in the Tnain with local PTofossionRls Lian¢ Carroll & Petc Pres￿)tt, Kin8 Siz¢ Sllm SmokinE Jacket LI￿ Band. Youth Th¢&tre rrbJrn￿ to a tWO•w¢¢k event kn 2022 ¢nding in three publi¢ perfonttall¢¢& Th¢ Stables al8Q supported thryoullg Mvsieian of the Year c0mpciitio￿ hostiftgthe region￿ heats, Youn8 people acc¢85intyvsing th¢ thelltr¢ Continues to be one of our major pzioritits and more plans ar¢ iti place to de￿lOp thi8 throu8h 2023 into 2024. W¢ are 3cliv¢ly cllcoura8itiB links with local colleB¢4 and gehools 8ttd hav¢ hwj sev¢rnl wupsvisit attend thethe4tre. As thes¢ link8 Brow, we ar¢ hopirtg we will #ble to olY¢r sbJdEnts worft ¢xpericttce wllthiTL thBth¢&tr4 ¢r¢atiD8 herita8G We have witinU￿] to grow our memberthip base, develop inform•tion Sharing atMI wline bcdting. Audie￿¢ Su￿¢y$ I￿￿£ shompn that the theatre is p¢rfonnin8 w¢n' PTOBramminsi ¢QSt, friendlin• v￿u¢ for mon¢y and petf¢Jnn8llLf314nderd5 411 scor¢ 'ex￿11¢￿t,. Page 4 The Stables Trnst LILnlted Trustees, Report VoluD*¢rs Always v¢ry high ott our prkwityli$ both terms of 'we need you. and ￿alitUd#, A great t¥slarA¢nt to the skills and dedication shown by all is OUT sizable inclusim in the b(*)k Theatr¢ in TOMTLS. th¢ b￿k offtrs a contemworypersp¢ctiv¢ on the role of Ih¢atr¢ in th¢ cultural lifE towns England, and was written by Professor HelenNicholson and Dr Carn (jraY￿ 5POIE8or¢d by the andHwn8niti¢s Res¢aTch Council of BnglaRd, There 4r¢ two main driving foTces At the Theatre r¢m#ln The Cowicil of Management alld Fro￿8mMe AdviS￿Y Group, Over th¢ past twelve months w¢ ￿v¢ been lty)kin8 at the history and different 'mgkeups' of the Council of Man88¢m¢Dt Lnd thish8s led to è SP￿1&1 Tesolution brirt8 proposed at the 2023 AGM. The Pro8rgmme Advisory is staTtiJ]8 to work more c0tl4boiati￿1Y with outside companies, shaiing ski114 time attd Tesi)IlT¢es, as w¢ll as encouraging pottrttiil n¢w audienc￿, New writing produclions wet¢ very successbjl, H¢re At188t is Lov¢, Seventh SwiTDmer aDd WhiskEy and Soda all atlracted w¢ll above averago audiengt& Firsl B to Ballinabeg. willnu of our 2021 ¢ompEtition op¢ned our 2023 season with 80Yo audience figwes. Th¢ Stsbies New Wriling CotrbP8tit4(n for 2022 hass¢lected two winnillu plays th•twill b¢ produced in 2024. For thos¢ of Y￿ who b&ve Cl¥LtinuuJ to support the ¢he2tr¢ as we coiitiDYe to develop our progrBmtitioB and U with the local community, I hope you hav¢ fout)d itwelroming and ex¢iting> for those of you who have givenup your time as avOlUnt￿ in Whatev¢rEa￿clty, Th#nk You. Flnanclal revloiv Poll¢y t)M resems By h8ving apoli¢y of 0￿rating enliTdy with volurtt¢ers tbe ¢haEity 1$ able to meet tho normal Msts of its activities without thr ne￿ for Te8uiaT grant funding* However. 1¢ is th¢ policy of th¢ tru8W ￿ maintsin free r¢serve$ of £30.00(> to cover possible emergency r¢paiT8 to th¢ building and other conlin8ellci¢s. The actual free Te5¢rves atth¢year cnd date, that is thnds whith are not restri¢ted or f￿￿¢Sented by fixEd assets or designated by the lJuste¢s ts a particulsr piirpose, were £170,130. whiehth¢tnJste¢s ¢onsider is satish¢tory. Inv¢slMe￿P0lkY1Nd0bj¢CIfv Under the memorandum And artirlts of association tILeehllrityh￿ thr power to inve5¢ in any way the tnIst￿¥ wish. Thv trust¢¢5, having rB8Ard to the liquidity r¢quiT¢mfflts of oporating th¢ theatr and to the reserves policy> have opBratEd a policy of k¢oing avai18bl¢ Ibnd8 sn an int¢r¢st bearing dwit amnt which p4y8 a rat¢ of inltte5145 close aip055ible tothe rat¢ of inllation. PaEe S The St4ble8 Trust Llmlted Statement of Trusteesl Responslblllties The trllStee5 (who ar¢ th th¢ dire¢tors of The stsbl¢s Trust Lirnitcd for the putyoses of mpany law) 8r# r¢sponsibl¢ for preparing the tru8tE¢¥ [￿Ort and th¢ financial stat¢ments in accordance with the United Klngth Accounting Stslldar￿ (Unil¢d Kingdom (T¢u¢rally Accept¢d A¢counling Practi¢¢) and applic4bl# law and r¢gulatioi CoMp￿Y law F¢quires th¢ tnJ8¢eeg lo prepare financial 9t&tgniEnts for cach financial year. Undw ¢ompaDy IAW the trust¢E$ must not 8pprov¢ the finan¢ial statrnieThts they ar¢ 921isfied that th¢y givo 4 trne and f8ir view of tho 8tale of affairs of the ¢harilqbl¢ CoMp￿Y and of its incoming resourc¢s and application of r#ources. including it% In￿￿0 ￿￿1 expenditsr4 f<¢ thutper1￿I. In pr¢parill8 these fin8n¢ial statem¢nts, th¢trust¢¢s ar¢ rryylr￿ to,. s¢lecl 8Uit&bl¢ ac¢ountittg policie8 and apply tban ¢onsistmtly, obsuve th¢ m¢thods alld prin¢ipies in thecharities SORP; m4kn judgem¢nts and &4timal<$that ￿¢[Ca¥0￿8blc and prndenl State whelhff applicable UK Accounling Standords have followed. subject to Any matsrijl dep8rture8 disclos¢d attd exp1¥4ined in the finan¢ial 3tat¢m¢nts; and proare the financial statem¢nts on the goitig £￿¢t￿ bs5is unless it 18 inapproprlat¢ to prwymg that th¢ ¢karitable coowanywtll continu¢ in busina* Th¢ tnistees are r¢spoll5ibl¢ for kwing adva* awouAtin8 records that are suffi¢ient to show Illd explain th¢ choritable companl8 traustctions and disclose with re4soDable at a￿Y time tb¢ financial positl¢)n of the dlaritabk compAlly and ￿able th¢m to ensure that th¢ finpn¢i81 stat¢mellts ¢omply with the compani￿ A¢t 2006. They ore alw responsible foT safeguardin8 th¥ assets of th¢ charitable Company and hence for tsklnB re￿OnIble steps for th¢pr¢vention Wlld dctectioA of fraud and other I￿gUlarIti￿. Approved by th¢ tTUStees of the chprityon. .,.. . . . . Tn]st¢¢ Po8¢ 6 The Stables Trust Llmlt¢d Independent Examin¢rls Report to th¢ trustee8 of The Stablo5 Trust Llmlted I r¢port to the chuity trustees on my thnatton of the uwunts of th¢ cllarity for the yo8r ended 30 September 2022 whi¢h ￿5¢1 out on pages 8 10 21, Respe¢¢lve res￿￿$1￿￿tte$ tNsts48 ¢x*rnlll¢r As th¢ chari￿8 tt7J8t¢es of Th¢ Stables Trnst LiTnitcd (￿d also its dire￿ for the Purposes of company law) you ar¢ responsible for the pr¢paration of the accounts in a¢cordance with the requirements of th¢ Comp8nles AeA 2006 {'the 2006 Act.). Havlng satisfied ￿￿tIf that the of The Stables TtN8t Limited gre not requirea to be auditd undLr Part 16 of the 2006 Act and are eligibl¢ for ind¢pertd￿t exan)ination, l Tryort in r¢sp¢ct of my ¢xarnitlltion of yow chaTiWs accounts as carried outundff sedlon 145 of th¢ CharitiesArt 201 I ('the20II Act,). In carryang outmy examination I h&v¢ followed the DirE¢tion5 given by ihe CharityCoJrm)i¥sion undu section 145(5)(b) of the 2011 ACL Inde￿Ddellt Bx#ThlM¢r'B st#t•men¢ I havg wmpiel¢d Iny exawlndtlo￿ I confirni that no matters hav¢ come to my att￿*/0￿ iti conne¢li¢)n with the examinationgiving Cause to bdieve: . &c￿￿lting Tccords wer¢ Not kept in r¢spert of Thv Stabks Tntyi Limited 08 requir￿7 by sfftion 386 of th¢ 2. th¢ aecounts donot 4ceord those reeords. or 3. the a¢wunts do not comply with the accounting r¢quir¢rrt¢nts of section 396 of th¢ 2006 Act other th￿ requir¢m¢Dt that the &ccounts 8ive a 'iThe and fair vifflrf which 1$ not a matter considered a5 Part of an independ¢ni ex2min4tion' or 4. the accounts have not been prepar￿ in accordance with the m¢thod8 and principl¢s of the Stat¢mMI or Re¢ommrnded Practice for accounting and reporting by chaTities [applicable to chorities pr¢pAring th¢ir accounts in a¢¢ordanc¢ with the Financlal Rq)orting Sland&rd applicwbl¢ in the UK and Ryblic of 1rd￿d RS 102)]. I have no eollcern8 and hwv¢ com¢ ¥¢ross no other m&tt¢rs in ¢ortnection Nryth th¢ ¢xarAin&tioti tr) whi¢h altenti sbould be dT&Wll in this r¢port ith ordcrto cnable aproperulld¢r8tandittg of th¢ a¢counts tobB re&cbrAI. alsh FCCA 39 High Stree¢ Battl¢ East Sussex TN33 OEE Date:...e￿,1,￿￿I25 Page 7 The Stables Trust Llmltsd Statement of FlThaneial Actlvltle5 for the Year Ended 30 September 2022 dydlng Income and Expendlture A¢eount and Statement of Total Recognis¢d Galns and Los8es> Unrostrl¢t¢d funds Rtr8trl¢t fuDd¥ Tot#1 2022 Note In¢om¢ and Endowments from: DonJtioDs and legacieB Charitable a¢t1￿tIcS Inv¢strn¢nt inwm¢ 32,066 151.719 82 32,066 151.719 82 Total income 183 867 Eyp•ndltur¢ Wl* Charitable ￿livItie 167 120 1,348 Total expendi￿re Net incomd(¢xp¢nditiwB) Nel n￿¢Mellt in funds Re¢onelll*llon Dffimdl Total tknnds brought frnd Totsl fimds ￿[lEd forwthl 167.120 168.468 1.348 16,747 (1.348) 15?99 460 475 477 Th¢ Dotes on p88¢s l2 to 21 forni an integral pirt of these fin8llci•I 8tstcm¢nts. Pa8e 8 The Stables Trust Llmlted Statement of FlnanclAI A¢tlvltle8 for the Year Ended 30 September 2022 (In¢ludlng Income and Expendlture Account and Statement of Total Recognlsed Galns And Losses) Unrestrlcted fyDd$ Re8trlctsd fund8 TotAI 2(121 N•tè In¢om¢ And End(swmÈ•ts frbm: Donations and leg4ci ClwitHblE #¢tivities lrtvesiment in¢ome 97,506 37.607 1.61 97.506 37,607 Total income 136,713 136 713 Exp¢xdllur• on: Chortt*k ¥tivities 110499 1.06 Ill565 T+Dtal exp¢ndituro Net inmd(expendltur¢) N¢t movemeTrt in R¢¢Dn¢llladon of f¥Ddi Total fimds broughtfonvard Totsl f￿d8 ¢aTried forward 110.499 111,56S 26 214 26,214 (1.060 25.148 434 261 459 720 17 460.475 All of th¢ charitys actl*Ats¢s deriv¢from ¢ontinuing owations during th¢ abov¢ two p¢riryJs. Th¢tsnds break¢lown foT 2021 18 8hown in note 17. The not¢s on p&8es 12 tc* 21 foTm an inte8r81 part of th¢s# fjttoncial $t4tem¢nts. Page 9 The Stsbks Trnst Llmlted (Reglslratlon number: 591781) Balanc¢ Sheet as at 30 September 2022 2022 2021 Note FlThl a59ets Tgngibie ￿ets Current 885¢ts 12 330.137 320,477 13 14 Is 2,704 5,639 170.120 2,564 7.(Ki6 162 515 Debtors Cuh atbsnk and iti hand 178,463 172,085 Cr¢dltors: Amoyftts fAllln%du¢ wltblll oDe year 16 8.333 N¢tcurr¢xtAsMts 170 130 164.391 Nrtwsets 484 868 the eharlty: R¢strlct¢d lJ¢omB Cwd8 Re51rithd ￿lldS 17 23,045 24,393 Ullr￿trl¢ted In¢omB funds Unrestrictd llmds 460 475 Totsl fynd$ 17 500 267 For th¢ financi81 y¢or endiThB 30 September 2022 th¢ ¢baritywas entitled to exemption from aud{tUnd￿ scEtiOD 4T1 of th¢ CompaDiH Act 2006 relating to sm&ll wmpanies. Directots, respoNibilities.' The roornbErs h*v¢ not requir¢d lh¢ ¢harity to obtain an audit of Its I￿o￿rtts for the yrar ￿ quethi4n in acwTdancewiths¢ction 476. and The dir¢¢tors f4thiowledge thcir Tewn8ibilitie8 for complylng with th¢r¢quir¢m¢nts of the Ac¢ WAth to a¢¢ountingtt¢ordB and th¢preparation of a¢¢ounts. These accounts have b¢en prep8roJ in g¢¢ord8nce wlth the pr(>Yisious appli¢abie lo compaai¢s 8ubje¢t to the small ¢ompunl¢s reglth Th¢not¢s on pwg65 12 to 21 form an integral part of th¢8¢ financi818tatwn¢nts. g¢lO The Stables Trust Llmlted (Reglstratlon number: 591781) BalAne¢ Sheet a8 at 30 September 2022 Iln8ncIo1 stetenThts on page8 8 to 21 w¢ro approv¢d by the tNstees, and authoristyj for issue on .,.. . . . is￿ed on theirb¢half by,. Ntil Sellrttan Th£ notes on p8g¢8 12 to 21 form 3n inte￿¥1 port of thd¢ fin8n¢l81 ststenwkts. Fagoll The Stables Trust Llmlted Notes to the Flnanclal Stst¢ment$ for the Year Ended 30 September 2022 I Chgrltystaivs Th¢ ¢hwity is a ¢haTity lio)itcd by gu•rante¥ and th)8¢qurntly does not have shateapitsl. Each of the memkn is liable to ¢olltsibut¢An amountoot exce¢din8 £1 lowards theasset8 of th¢¢harityin the ovent of liquidation. The addre&8 of itstegistered Offi￿ 1$,, Th¢ Stables Th¢atr¢ Hi8h Street H8Stings Egst Sussex TN34 3EY 2 A¢¢own¢lng pollcles Swllmary of A8M1fi¢9nt acc0wltl￿g p•llcl¢8 and key accounthig 48tlm*tes Th¢ principal a¢roullting polici￿ 8ppli¢d iti the preparotion of these fin&ncial statem¢Dts ar¢ sel out below, Theso pol￿1¢$ ha￿ be￿ Consiste￿IlY#Pp1led to all theyt4TY pre8ellte￿ unl¢ss othenvise stated. The fiHuLcial staten)￿￿ have be¢n preparu] kn 4¢cord8nc¢ with Aw)untinB and kcportinB by ChE4ritt¢¥'. Stalmient of Recommended Pr￿¢ti￿ Applicable to charities prepwing their accounts in ar¢ord&nce with the FiThan¢ial Reporting Standgrd &pplicobl¢ in the UK and R¢publi¢ of Ireland (FRS 102) (effertive l January 2015) - (Cbbrjti45 SOBP (FRS 102)). the FIn￿rIal ReportiU8 Standard 8pplicthl¢ in the UK Republic of Ireland (FRS 102) and th¢Companie8 Act 2(KJ6, Bads of pr¢p#rJitlon The Stable& Tru51 Limited meets the dEfinitioll of a pubU¢ l)enefit entity FRS 102. A86¢ts and li•bilitie5 ore initi￿[Y reco￿73￿ at h1#OTi￿1 c05t or tr8nBadion value unless oth¢nvis¢ stated ill the rd¢v8nl sc¢ounting policy Gthg t￿Cer￿ The trustees ¢on&ider tI￿t ther¢ or¢ no mat¢rial un¢wtaints about th¢ chgritl8 ability to ¢ontinuc u a 8oin8 ¢ODcemnor any si8nificwntoreas ofuncertainty that affe¢t th¢win8 valu¢ of assets hdd by th¢¢h8rity. Ex¢mpdoll from pr¢pAr5Jg Ilow gtAtenWAt The ch￿lty opted to adopt BulletiD I published on 2 F¢bruary 2016 atid hav¢ therefore nrt indud¢d a cA5h 11 &tatem¢ntiA these fill8n¢ial statsm¢nt& Io¢ome gnd udowm¢nts All income is r¢cogni8ed once th¢ ¢barity entitlcment to the itt¢omE, It is probable thrt th# tn¢omt wlll be reg¢ived and th¢ a)nountof the In￿￿£ rweiv#ble con b¢ m¢)SUTdr¢li&bly. Pa8¢ 12 The Stables Th￿t Llmlted Notes to th¢ Flnanclal Statethent$ for the Year Ended 30 September 2022 Donations ar¢ re￿gniSed wb¢n tbe cb&rity has been notifid in wri￿¥ of both the arttount and Settlement th¢ ev¢ll¢ that8 don8tion is subi¢¢t to condition8 th&t r¢q¥iTe a level of p¢rforniance by the chaiitybFfor¢ the charity 1$ entitlryl to th¢ fvnds, the income is d¢feJYed &nd not TKog415￿ until ¢ith¢r thos¢ CODditi)Bts. ChJrli4bl¢ rtdvlrfes Charitable expeoditwe comprise5 thos¢ c¢>sts in¢urr¢d by th¢ ¢h¥rity ID the d¢livery of its activiti￿ and servi¢eg for its IxAefi¢ititie5. 1¢ Includ￿ both costs that can b¢ wllocated diTectly io such acÉiv¥ties attd those costs of an illdir&* natWe Dceessaryto support thenL Governance costs These includ¢ the cost8 atlributable to the charity's compliance with (ot￿ti￿￿tIOnal 2ftd statutory rcquirenwi Includiti8 audil strxtegic managementond tru$tee3'8 Iiwetln85 and r¢imburwl expenK%. GoverDment grants GoverDmtnt ￿allts 8r¢ re￿gnIS¢d bose4J OD th¢ and are rneasw￿ at the faiT valu¢ of tho 8sseL re¢¢ived or [￿1v8ble, Grants are cl8s8ifj¢d as relating ¢ith￿ to T¢v¢ll￿¢ or to assets. Gronts relating to revenue 8t¢ reco￿13¢d in incom¢ 0￿r the period in which th# relat￿ w3ts are recognised. Grants r¢latin8 to assets are rewised ov¢t th¢ ¢xpected usethl life of the oskt. Wh￿¢ PArt of a grant r¢l&tillg lo ￿ asset 18 def¢rtwJ, it is recognis￿ os dthrred in¢ome. Pase 13 The Stables Thist LID)It¢d Notes to the FAnandAI Statements for tht Y¢ar Ended 30 Septembtr 2022 Th¢ charityis cottsidered to WJ88 IELe tests s¢t out in Para￿ap￿ I Schedule 6 of the FinaweAct 2010 and th¢refor¢ it meets the d¢finitioL of a tharitabl¢ con]pany for UK corppration tax purposek Accordingly• the chaTityi$ polen¢ialty £x¢mpt from taxaticfj IR r¢syect of income OT ¢aPit41 gains ￿￿tIVed cat¢gories cover￿ by Cbaptrr 3 Part 11 r)f the Corpwation Tax Act 2010 or Section 256 of the TaxatiOD of ChArgeable Gaius Art 1992, to th¢ ¢xtent that such inrvmeor gaius are applied exclu5iv¢ly to charitablepuryoK8. Tanglble Ilx¢d iss¢ts Individual fixed ass¢ts wstin8 £100.00 or mffe ar¢ ittilially [￿orded at cosL 1¢$$ any 8ubsequ￿1 accumulat•l d¢pi¢ciation subscqu¢nt &ccumulot¢d imp&iTm¢ntloMes. Depr¢¢l4don •lld thmortiMtIoD Depreciation is proTrided ¢)n tanglbb fixed ll88ets so as lo write off the cost or vAluati