**Charity registration number 240751 (England and Wales) Company registration number 00077583** ## **THE NATIONAL PONY SOCIETY** # **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025** ## **THE NATIONAL PONY SOCIETY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|P Alder|| |---|---|---| ||A J Kember|| ||M R Jones|| ||J Harforth|| ||F Roebuck|| ||S Palmer|| ||L Hewitt|| ||L Barsoum-Allen|| ||D Adams|| ||P Davies|| ||K Wainwright|| ||A Calvert|(Appointed 15 February 2025)| ||C Evans|(Appointed 15 February 2025)| ||J Webb|(Appointed 15 February 2025)| |**Charity number**|240751|| |**Company number**|00077583|| |**Principal address**|RASE Centre|| ||Stoneleigh Park|| ||Kenilworth|| ||Warwickshire|| ||CV8 2LG|| |**Registered office**|c/o Gravita Oxford LLP|| ||First Floor, Park Central|| ||40-41 Park End Street|| ||Oxford|| ||OX1 1JD|| |**Auditor**|Gravita Audit Oxford LLP|| ||First Floor, Park Central|| ||40-41 Park End Street|| ||Oxford|| ||OX1 1JD|| |**Bankers**|Lloyds Bank Plc|| ||75 Castle Street|| ||Farnham|| ||Surrey|| ||GU9 7LT|| ||Hampshire Trust Bank|| ||55 Bishopsgate|| ||London|| ||EC2N 3AS|| ||Cambridge & Counties Bank|| ||Charnwood Court|| ||5B New Walk|| ||Leicester LE1 6TE|| ## **THE NATIONAL PONY SOCIETY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Solicitors** Wright Hassall LLP Olympus Avenue Leamington Spa Warwickshire CV34 6BF **THE NATIONAL PONY SOCIETY** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 11| |Statement of Trustees responsibilities|12| |Independent auditor's report|13 - 16| |Statement of financial activities|17| |Balance sheet|18| |Statement of cash flows|19| |Notes to the financial statements|20 - 29| ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Articles of Association, the Companies Act 2006 and "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)". ## **Objectives and activities** The statutory objectives of The National Pony Society as stated in the Articles of Association are: - To promote the interests of pony breeding and to encourage the use and protection of ponies; - To promote and facilitate the acquisition and distribution of the knowledge of the various arts and sciences connected with the pony and the use and management thereof. In addition to the National Pony Society’s regular activities and services provided, this year the Council endeavoured to fulfil its objectives by: ## **Raising awareness** - Liaising with and distributing information to other organisations; - Promoting the Riding & Sports pony abroad, especially in Australia, New Zealand and Europe; - Publishing and maintaining a booklet of Mountain & Moorland Breed Standards and Showing Rules; - Holding a full range of pony breeding and performance classes at the NPS Shows, and Competitions (both Summer and Winter Series) with qualifying rounds being held throughout the United Kingdom; - Holding Study Days and Training Days for Competitors, Judges and Stewards. ## **Promoting registration** - Being a DEFRA recognised Passport Issuing Organisation for British Riding Pony registered and for non registered ponies; - Collecting and sharing registration data with Native Breed Societies; - Supporting the export of ponies and semen worldwide; - Lobbying DEFRA and the Government to minimise the costs of legislation on pony breeders, especially the Rare and Heritage breeds; - Encouraging dialogue between Societies with Part-Bred registers. ## **Encouraging the use** - Liaising with other Societies so that, where possible, our rules may be similar; - Enforcement of Rules and Breed Standards; - Maintaining the standard of NPS panel judges and taking measures to increase the number of judges on the Mountain & Moorland, and Riding Pony panels, without compromising standards nor losing Breed type. ## **Protection** - Ensuring the accurate recording and verifying of pedigrees; - Providing support and help to the Mountain & Moorland Breed Societies; - Liaising with Government departments and responding to consultation papers from DEFRA about welfare and rural affairs; - Encouraging major Shows and Showing Societies to publish Breeding in their Show Catalogues and providing Breed information for communication to the general public. ## **Welfare** - Raising awareness by publishing reports and information from other Welfare organisations in NPS publications and website; - A presence on Welfare Committees exchanging information, particularly the plight of the feral ponies; - · Promotion of awareness to owners and judges regarding overweight ponies. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. - 1 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **Achievements and performance** ## **Marketing and Publicity Committee** **Committee Members:** Committee Members: Mr P. Davis (Chairman), Mrs A Monsoon (Vice Chairman, Coopted), Mr M Jones (Society Chairman), Miss C. Evans (Society Treasurer), Mrs S Hird (Society President), Mrs A Calvert, Mr A Cooper (Co-opted), Mrs S Wooderson (Co-opted) PR & Marketing have been working hard this year with numerous meetings, resulting in some positive elements being put in place. The NPS Awards are now a firm element of the AGM weekend and lots of nominations were received for the various categories. Finalists all travelled to the AGM in Royal Tunbridge Wells and a good night was had by all – especially the lucky winners! The awards have gained traction and we look forward to having another fabulous evening at the 2026 Ball. Committee members Aimee Monson and Adam Cooper have worked tirelessly to establish these awards and develop them into what they are today. As Adam and Aimee step back from their committee responsibilities in 2026, I would like to offer a personal note of thanks for their dedication and hard work. The PR Committee also organised a series of Winter Zooms, which were very well received by the membership. These will be repeated in 2026 and look set to become an ongoing feature of the NPS programme of events, supporting and strengthening our education remit. One major piece of work that the committee is currently undertaking is that of a new website. We have received several strong tenders, which are due to be narrowed down when the Council makes the final decision. This looks to be an exciting new element of the NPS and will allow greater engagement between the society and its members. Mr Paul Davis Chairman ## **Competitions & Rules Committee 2025** **Committee Members:** Mr P Alder (Chairman), Mrs J Webb (Vice Chair) Mr M Jones (Society Chairman), Mrs S Hird (Society President), Miss C Evans (Society Treasurer), Mr P Davis, Mr J Harforth (Society Vice Chairman), Mrs A Kember, Miss K Wainwright, Mrs L Barsoum-Allen, Mrs F Roebuck, Mrs J McAuliffe (Co-opted) In a busy year for the Society as a whole, two Competitions meetings took place through the year, where several rule changes and alterations were discussed. Our wording on crank nosebands was reviewed, following queries from a judge. Jackie Webb and Catherine Evans visited the collecting rings at the Spring Festival to offer advice on the fitting of nosebands. The M&M committee had proposed a competition to encourage young handlers, a sponsor is in place and this is an ongoing proposal. Course builder Steven Cradock had asked for a line in the rules to outline what is acceptable to use as fillers. Some National Finals were still without sponsors in April, so sponsorship packages were reviewed. Qualification cards including their cost and practicality were discussed and it was agreed for Catherine Evans to work on some ideas going forward. On to the October meeting, which was an in person meeting, with a huge agenda held at Stoneleigh. It was agreed that Foal shows be allowed to award Silver medals to foals, as they will be eligible to compete as yearlings the following year and that a Novice qualification can be offered in the Open LR classes for the Winter series only. - 2 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ Jewellery wording was reviewed and a disclaimer added. Some changes are to be made to our WHP mark sheets, including adding the word movement and making the Conformation section clearer to help reduce mistakes in addition. It was also felt that adding a 100 sheet to the affiliation packs would also help address the errors issue. Wording is to be added on leverage bits. Artificial Aids & external stimuli was discussed and it was agreed to tighten and expand the wording on welfare grounds. It was agreed that the competitors do not need to produce their membership card in the ring, for the R.I. WHP qualifiers, as they must be a member to enter. This would solve the anomaly of when errors are corrected and results amended after the event, possibly no one has checked the card of the corrected winner. A discussion on the Winter Finals was begun but will need much more thought due to the impact on the Spring Festival. 30 shows affiliated last year but of those 11 were also Summer qualifiers. Entries continue to decline in the actual finals, so certainly something needs to be done for 2027. 23 applications were received for the 22 available RI WHP qualifiers. It was agreed to enquire if we could hand out 23 qualifiers as not everyone enters. A brief report was given on a meeting held with our regular course builders and it was agreed to produce a rules booklet, designed specifically to be sent to the course builders, rather than the full rule book. It was agreed to include a stand alone Veteran section for 2026 on a trial basis. Once again, grateful thanks are due to all of our sponsors, who continue to support our Competitions of all kinds. We certainly couldn’t provide the variety that we do without them, from In Hand sections for all breeds, through Novice & Open Ridden for RPs and M&Ms, WHPs and Dressage. Competitions committee continues to monitor any complaints and implement rule changes as they are required. Thanks are due to all committee members and to Sacha in the office who oversees the updating of the Rule Book. Philip Alder Chairman ## **Education and Welfare Committee** **Committee members** ; Mrs A Kember (Chairman) , Mr P Davis , Miss L Hewitt, , Mr M Jones (Society Chairman), Mr J Harforth (Society Vice Chairman), Miss C Evans (Society Treasurer) The Education and Welfare committee are pleased to report that the annual education bursaries allocated for 2025 were well received and the recipients all reported that they had enjoyed the training that the bursaries funded and had successful seasons in the ring. Our thanks go to Rosslyn and Sinton Studs for their continued support of this scheme. Applications for the revised 2026 bursaries are up after the age range for the scheme was amended following member feedback. As chairman of this group I am part of the National Welfare Equine Council (NEWC) and attended a number of online meetings through the year. As part of our education remit the NPS has also started working with The Showing Register to promote a series of clinics across the country. Angela Kember Chairman - 3 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **Mountain & Moorland Committee** Participants are members of the various native breed panels The M&M group has been busy again this year. - It is a continued initiative to working with HOYS to be more active re transfer of ownership for ponies - We are continuing with our young person/new breeders meetings another was held at the NPS summer show and we have another planned for March. Our aim is to understand what the next generation would like to see from each society to future proof our breeds and continued support via membership. Following the success of our webinar last January another is planned for 22nd January with speakers from Stallion AI, DEFRA and an Irish breeder of Connemara ponies, this will cover all aspects of breeding ponies. We already have interest from overseas and UK members - Bursaries for young/new breeders in the future – still work in progress - All breed societies again supported the GBIH with funds and banners. - Continuing to look at the import and export rules as this has had a major impact in the export/import of live animals and semen for chilled AI - Our series that we ran covering the 12 native breeds featured via social media has been well received. Each month we featured one of the native breeds, this covered interesting facts and news etc. - Herts County show asked us for ‘breed boards’ this will cover interesting facts for each breed and a photograph so that we can educate the general public on all our native breeds, this is to be available for all our county shows - We held our first Mountain and Moorland WHP group on the 28th October, we are hoping to trial a competition split by breed to encourage so of the less athletic breeds to compete and to help preserve breed type. The splits is as follows Shetland, Dartmoor, Exmoor and Welsh A; Welsh B&C,NF Connemara; Highland Fells and Dales;138 and over NF, Connemara, Welsh Section D - It was raised with Grandstand Media re the decline in in-hand showing and what can be done to include more young handler competitions this is something we are looking at doing at the NPS shows, the aim is to encourage younger people into showing that maybe don’t enjoy or have the talent to ride but want to compete. Kerry Wainwright Chairman - 4 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **Area Chairmans Report** The NPS Areas held three zoom meetings during 2025 which were very well attended. These meetings were extremely productive with lots of interaction and sharing viewpoints of their respective membership. One of the points raised was updating the map of the different areas as it is somewhat out of date and needs to be revised. Joint training clinics with the NPS and TSR have been arranged throughout the country with excellent trainers and will provide members of both organisations with reduced rates. During the last year the NPS has been working hard to standardise the Amateur Rules across TSR, UK Ponies & Horses and ourselves which will be of benefit to our amateur membership. The Areas Terms of Reference are in the process of being updated and will be presented to all the Areas for their agreement in due course. Wishing all our members and friends a happy and successful season ahead. Jackie Webb Area Chairmans Representative ## **Show Committee** **Committee Members** – Mr P Alder (Chairman), Mrs J McAuliffe (Vice Chairman), Mr M Jones (Society Chairman), Miss C Evans (Society Treasurer), Mrs S Hird (Society President ), Mr J Harforth (Society Vice Chairman), Mrs J Webb, Mrs A Kember, Mrs L Barsoum-Allen, Mrs S Palmer, Mr P Davis, Miss K Wainwright, Mr D Adams, Mr A Cooper ( Co-opted), Mr M Sheen ( Co-opted), Mrs P Ashton (Co-opted), Mr R Parsons ( Coopted), Mrs A Monsom (Co-opted), Miss N Faulconbridge (Co-opted) 2025 was another very busy year for the show team, with 3 shows to oversee and the addition of the NPS Dressage to the show’s agenda. The Spring Festival held once again Three Counties Showground Malvern. There was a really good atmosphere out and about around the Showground, an important consideration when you want competitors to return. The timetable ran well and we were finished in a reasonable time, again important for people with long journeys home. We had a few issues with the announcer being heard which will be remedied in future. The Stallion Parade went quite well and was an improvement on 2024, a video was taken for uploading to YouTube . Hannah Parr did a very good job commentating. Class numbers were slightly down. A final analysis of the figures showed that HOYS entries were slightly up but LR/FR were down across the day. Performance classes were also poor so will be scrapped for 2026. This will allow the reintroduction of the open and intermediate WHP classes along with other timetable changes. It was felt that the Winter Finals need a serious discussion, we used to get 20/25 entries in the finals but struggle to get to double figures now, there are less shows running qualifiers. Moving on to the Summer Championships in August , the weather had been blisteringly hot, so we tried to ensure that the rings had been watered where possible, particularly the working hunter rings. The show team delivered an excellent championship show and absolutely worked their socks off to create a lovely positive atmosphere and fun for all . A couple of easily solvable issues arose around parking and stabling but these will be addressed for 2026. Although entries were slightly down on the bumper year that was 2024, they were up on 2023. A clash with Equifest and people having to be selective can explain that. - 5 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ For the first time we held a Treasure Hunt for the children, which was very well received and great fun for both young and old, along with the Dog Show, Bake Off and the fabulous Handy Pony meant that there was something for everyone. The Members evening in the marquee went down very well and the addition of Pimms and nibbles was gratefully received. We hope we can continue with this on the Tuesday evening. President Sara Hird, held a wonderful reception on Wednesday evening, enjoyed by all. She also included her grandchildren in the judging of the Fancy Dress, which had bumper entries and made it feel super special for competitors and spectators alike. Very quickly attention turned to the Performance and Great British In Hand Show, held for the first time at Vale View Equestrian Centre in Leicestershire, despite the central location and the sterling efforts made with regard to sponsorship, the show still ran at a loss. We have decided that there will need to be a major revamp for 2026 and the Arena Eventing final will be moved to the Spring, with the intention of adding the dressage final in 2027. Subject to HOYS approval we are hoping to keep the Price Family In Hand semi final and will pare down the schedule and have the show finish by 5.30pm. In conclusion, I would like to express my thanks to my team, Jayne McAuliffe, my Vice Chairman for her input and support, the whole of the hard working Show Committee and their partners and of course the office team of Sacha, Fiona, Hollie and David. Sadly, we have now said goodbye and good luck to Hollie and David, they were both an integral part of the team for 2025 and we wish them all the best in their new positions. Thank you also to our amazing sponsors, some of whom have been with us for many years and last, but by no means least the trustees, members and competitors, who make it all worthwhile. ## Philip Alder ## Chairman ## **Judges Selection Committee** **Committee Members:** Mrs L Barsoum- Allen (Chairman) , Mr J Harforth (Vice Chairman), Mr M Jones (Society Chairman), Miss C Evans (Society Treasurer), Mr D Adams, Mr P Davis, Mrs S Palmer, Mrs F Roebuck, Miss K Wainwright, Mrs J Webb, Mrs J James (Co-opted) The Judges Selection Committee is pleased to report that the past year has been both productive and progressive, with a number of important developments. At the recent Judges Review Meeting, three individuals successfully completed their probationary period and were approved for inclusion on the B Panel. In addition, there were nine M&M and five Riding Pony (RP) elevations from the B Panel to the A Panel, reflecting a strong commitment to development and continuity within the judging structure. Furthermore, two M&M, one RP, and one M&M Working Hunter Pony (M&MWHP) judges were elevated from the annotated A Panel to the Full Panel, marking a significant achievement for those concerned. Despite these positive outcomes, there remains an ongoing need for new Mountain & Moorland (M&M) judges. It is therefore suggested that a key focus for this committee in 2026 should be to actively encourage suitable candidates to consider applying for inclusion on the panel. Several changes have also been implemented to the Breed Card Record, which forms an essential part of the application process for joining the NPS Judges Panel. These amendments will enable applicants to access a broader range of breed-related opportunities, including recognised breed sales and officially organised stud visits. This will allow candidates to study a wide variety of animals under the guidance of a breed panel expert, while continuing to uphold the high standards expected of the National Pony Society. In addition, a combined judges conference has been organised in collaboration with TSR and UKHP. This event is scheduled to take place on 24 January 2026, and feedback received to date has been extremely positive, indicating strong support and engagement from across the judging community. - 6 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ Finally, plans are in place to hold a Working Hunter assessment at the NPS Spring Festival. Any individuals who are considering applying for this panel are encouraged to contact the NPS Office to formally express their interest. Overall, the committee is encouraged by the progress made during the year and looks forward to building on this momentum in the year ahead. Lisa Barsoum-Allen ## Chairman ## **Resources and Planning Committee** **Committee Members:** Miss C Evans (Chairman, Society Treasurer), Mr M Jones (Society Chairman), Mr J Harforth (Society Vice Chairman), Mrs S Hird (Society President), Mr Philip Alder, Mrs J Webb, Mr S Howard (Co-opted), Mr S Strang (Co-opted), Mrs J McAuliffe (Co-opted) The Committee’s role is to ensure that the charity’s objectives are supported by appropriate financial, physical and human resources. Alongside monitoring current expenditure and income streams, the Committee maintains a forward-looking perspective, assessing potential risks and opportunities, including the impact of legislative changes that may affect both the charity and its members. During 2024/25, a key area of focus has been a review of the office staffing structure. Our employees are fundamental to the effective operation and continued success of the charity and provide an essential and consistent point of contact for members. With two members of staff moving on during the year, the Committee took the opportunity to review roles and responsibilities to ensure that the organisation is appropriately resourced and equipped with the right skills to meet both current and future needs. This work will continue into 2026. In the context of reducing interest rates, returns on certain investments have declined. Consequently, the Committee has given increased attention to strengthening and diversifying other income streams. Membership remains a cornerstone of the charity’s financial sustainability. We are focused both on retaining existing members and attracting new members to the Society. A membership survey was undertaken during the year to better understand member needs and expectations, and the Committee is progressing the actions identified as part of that review. Catherine Evans Chairman - 7 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **Financial review** ## **Treasurers Report** The 2024/25 year has been another financially positive year for the National Pony Society. For the year ended 31 October, the charity recorded a surplus of £34,635 , compared with a surplus of £51,727 in the previous year, and closed the year with total funds of £943,249. The in-year surplus comprised £20,000 generated by the Areas and £15,000 from the Parent Body. Focusing on the Parent Body, the principal income streams continue to be Shows, Membership, and Sponsorship. The reduction in overall income compared with last year has resulted in a lower surplus. Show income decreased compared with the bumper year of 2023/24; however, improved cost control helped to mitigate the impact. Membership subscriptions increased during the year, while sponsorship income declined compared with the previous year. This reduction had been anticipated following Baileys Horse Feeds’ decision to step away from HOYS, and we were pleased to secure a new partnership with Supreme Horse Products part way through the year. The charity’s key financial focus remains on increasing both membership numbers and show entries, while continuing to manage costs carefully. We are also investing additional resource into recruiting new sponsors and strengthening relationships with our existing valued sponsors, to ensure mutual benefit and long-term sustainability. Although not a significant income stream, the British Riding Pony Studbook remains a vital component of the charity’s activities. Our priority continues to be providing excellent value for money for breeders, and as such we are not seeking to increase profit in this area. This has been my first year serving as both Trustee and Treasurer. I have been fortunate to inherit a strong set of accounts from the outgoing Treasurer, and I am pleased that we have continued to grow the charity’s funds despite a challenging financial climate. ## Catherine Evans ## Treasurer ## **Reserves Policy** Free reserves available for use by the Charity are deemed to be those that are readily realisable. As a matter of policy, each year the Trustees review the value of the reserves retained in the form of investments and cash not held for restricted purposes or designated projects. The Council consider the Charity’s exposure to major risks in terms of their likely impact on its income sources and planned expenditure in the short to medium term, as well as assessing the best way to mitigate such risks. With income the major risk is considered to be when Competitions and Shows are not held for reasons beyond the Charity’s control. The Trustees have reviewed the reserves of the Charity and concluded that to allow the charity to be managed efficiently and to provide a buffer for uninterrupted services, a general reserve equivalent to 75% of fund annual expenditure should be maintained. ## **Investment Policy and Performance** The charity, may in accordance with its memorandum and articles, invest any monies not immediately required in suitable investments, securities or property as may be thought fit. Funds invested in listed investments were liquidated during the year and the trustees are considering the investment options available to maximise return for the charity while ensuring that these funds are secure and safeguarded. ## **Qualifying indemnity insurance** The charitable company has granted an indemnity to its directors against liability in respect of actions brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the directors’ report. - 8 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ The Council is responsible for the management of the risks faced by the Charity. Detailed considerations of risk are delegated to the Resources Committee, who are assisted by senior Charity staff. Risks are identified, accessed and controls established throughout the year. Through the risk management process, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. Continuing to promote, develop and educate according to our charitable objects with particular emphasis on: - Promotion of the British Riding Pony and Hunter Pony Breeds and supporting our Breeders by enhancing existing or introducing new Competitions to promote the Sports and Competition pony - Developing and raising awareness of the Society’s welfare and educational activities through effective partnering with similar charitable bodies - Continuing to review the Judges Assessment procedures to improve the selection process for probationer judges without compromising NPS and Breed standards - Reviewing and modernising our governance structure and finance function ## **Structure, governance and management** The Charity is governed by its Memorandum and Articles of Association adopted on 28 February 2009. The National Pony Society, also known as NPS, is a registered Charity (No 240751) and a Company limited by guarantee (No 00077583). The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: |S P Hird|(Resigned 15 February 2025)| |---|---| |S D Howard|(Resigned 15 February 2025)| |P Alder|| |A J Kember|| |S J Wooderson|(Resigned 15 February 2025)| |M R Jones|| |J Harforth|| |F Roebuck|| |S Palmer|| |L Hewitt|| |L Barsoum-Allen|| |D Adams|| |P Davies|| |K Wainwright|| |A Calvert|(Appointed 15 February 2025)| |C Evans|(Appointed 15 February 2025)| |J Webb|(Appointed 15 February 2025)| The Council of Trustees Is responsible for the overall governance of the Charity and consists of 10 Trustees elected by ballot, 1 Chairman of the Licensed Areas elected by the Committee of Chairmen of the Licensed Areas, 1 representative elected by the Native Breed Forum, the Chairman of NPS Scotland and a representative of the British Riding Pony Stud Book Committee. The maximum number of Trustees is 14. An elected or appointed person who has served three consecutive years as a Trustee shall be eligible to be re-elected for a further term as a Trustee. - 9 - ## **THE NATIONAL PONY SOCIETY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **Constitution of the Council** President Mrs S Hird Chairman Mr M Jones Vice-Chairman Mr J Harforth The Trustees As detailed on Legal and Administrative Information page Hon. Treasurer Miss C Evans Day to day management of the charity’s affairs and for implementing policies agreed by Council has been delegated to an interim management team. New Trustees receive an induction pack and all Trustees are constantly reminded about their Trustee responsibilities and are expected to comply with the NPS Trustee Code of Conduct of Selflessness, Integrity, Objectivity, Accountability, Openness, Honestly and Leadership. Trustees are required to meet as a Council at least 5 times a year and to sit on at least 1 Standing Committee. They are also expected to attend the Summer Championship Show. All acts and proceedings of any appointed Standing Committee are reported to the Council and no Committee, other than the Resources Committee may exercise any contractual powers without the knowledge and consent of the Resources Committee or the Chairman of the Charity. The Council delegates the exercise of certain powers in connection with the management and administration of the Charity to the Resources Committee. The Committee meets at least three times a year and has responsibility for all financial matters and budgetary control, it identifies and monitors threats and risks to the Charity and is able to react quickly if and when required. ## **Auditor** The auditors, Gravita Audit Oxford LLP, were appointed during the year and will be proposed for re-appointment at the forthcoming AGM. ## **Affiliated Organisations** The Mountain & Moorland Breed Societies are affiliated to the NPS and NPS is affiliated to the National Equine Welfare Council, the Central Prefix Register, the Joint Measurement Board and the 826 Studbook Committee. NPS is also a member of the British Horse Council and hosts meetings of the Mountain and Moorland Breed Societies. ## **Public Benefit Statement** The charitable activities of The National Pony Society are documented on page 2 of this report. The Trustees have discussed the issue of public benefit and are confident that the breadth and scope of the work the charity undertakes, as disclosed in this report complies with Section 17 of the Charities Act 2011 and has due regard to the Charity Commission’s general guidance on public benefit. - 10 - THE NATIONAL PONY SOCIETY TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2025 NPS Annual Report and Accounts year ended 31 October, 2026- Chainnan% Report This y8ar rnarks the condusion ol my third and final lem as Chairman ol the Nal¥)nal Pony Soaety. It has ￿en a priw*ge and hcffiour to hdp guKle the Swi8ty forward. wowknng akJng51d8 an excellent eoundl and x dedicated office teajn. The NPS Ihtfve5 because of the C￿leCt￿e efforts of so many people, most of them out ol the limelight, and l am proud to have played a part ￿ Ihat joumey. You. our members. ar8 at Ihe heart of tIKg SoC￿ty. Thank you foryour CKjntinL￿d commiknent to ￿ NPS. Looking back on 2025. 1 am struck by the res￿￿￿ and passion of our members. At the heart of the NPS T8mains our shared love of Pon￿ - whether thro¢Jgh bre&Jing. shNiry or sirnply enjoying treir company. Uur vaned ￿lendar af events once again showtased Ihe talent ¥wthin our equine community. From the SpriNJ Feslwal and NPS SummeT Champhjnship s￿. to the &8at Bnts"sh inwhand shthv, arena eventing. p8rtormance Show. and drèssage finals, èach gathering refiacled the ccrfnmltment and enthLtrsiasm ol d￿leated breeders, owners and competitors. cannot ignore the realities of the current econcfflic dimate. And the NPS has an Import8nt purpose impacled by th)5. We r8rnain COrnm￿ed to ou¥ d)aTrta￿e mission- thampioning TesponsiNe pony breeding, safeguarding pony weffare and exp8nding eduCat￿nal opportunttjes. Many members are making Ca￿fill, sensible decisions about whether to breed a loal or bnng ponie5 ou1 lo compele. Yel, even in these challengltvj times, the quality of ponies pres8ntefJ and the •nthusHsm at our shThvs remwn a testarnenl to the dedratKJn of so mary of our mernbers And supportèts. Our annual rep(¥t and accounts show a wekome suWu8 this year. atheved despite a ch￿lenging eo)nomic dlrnate that ¢ontlnue$ to tèst th¢ r•$ili*n¢e of ¢h8ritits aNoss thè sador. Our rasèN•s and In￿SIM￿nts remaln al a heahhy16vel, gmng us the slabillty we need lo plan ahead Wnh confylence. Thls Is not a rnomenl for complacency and we reojgnlse Ihe irnportance of Man￿1￿ our resour￿ carefulty, in support ol our mls61on and members. Sponsorshlp conlinu6s to p* a vblal In enabhng Ihese opportunrbes, aThJ l exlend heartfelt thanks to the mary cornpanles, indmduals and NPS aTeas whosè genèrosty SUStsM)s ourwork. As I stèp down from the rol• ol Chalm)an. I do so wlth gr8at prid• In what wa have achlaved logether. The NPS 1$ stronger for the dedlcatlon of trustees, Vo￿nI￿er$, offie• tèam, stewaffls, luduas, and especAally Ils rnamb8rs. While the future wtll ng dwbl brwy ¢*o1gnw. I'm o)nthJant Ihal. wilh your and supporl. the Sodety ￿1[ eorntlnue io evofve and flourfsh. Ob8¢lo•uYe of Infomwllon to •udltor• Eath of the Trustees has cornf1m￿ Ihal thefe i8 no infomalion of whlch they are awa￿ whkh 15 relevanl lo Ihe audlt, but of wh￿h the auditor is tsnaware. They ha* fiJrther confirmed that they have laken appropriate steps lo Identlfy atsch r*lÈvant inlom)thUon anrj trj e•t•Wlah Ihat ￿ awNtor ts aware tsf a&Kh Informakn. Th8T ees repo was ap Boartl of TnJ51ees. R Jone# Trustee Daleé.. Ib iyJL 11 ## **THE NATIONAL PONY SOCIETY** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ The Trustees, who are also the directors of The National Pony Society for the purpose of company law, 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that 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; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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. - 12 - ## **THE NATIONAL PONY SOCIETY** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NATIONAL PONY SOCIETY** ## **Opinion** We have audited the financial statements of The National Pony Society (the ‘Charity’) for the year ended 31 October 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 October 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **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 _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the Charity 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** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and - the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements. - 13 - ## **THE NATIONAL PONY SOCIETY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NATIONAL PONY SOCIETY** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report. ## **Responsibilities of Trustees** As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the Charity for the purpose 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 Charity’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 charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** 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 an auditor's report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. - 14 - ## **THE NATIONAL PONY SOCIETY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NATIONAL PONY SOCIETY** Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charity through discussions with governors, and from our knowledge and experience of the client’s sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including Charities Act 2011, data protection, antibribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates (set out in Note 2) were indicative of potential bias; - investigated the rationale behind significant or unusual transactions; and In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims; There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the governors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. - 15 - ## **THE NATIONAL PONY SOCIETY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NATIONAL PONY SOCIETY** ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. **Robert Kirtland (Senior Statutory Auditor) Gravita Audit Oxford LLP** ## 12/6/2026 ......................... **Chartered Accountants Statutory Auditor** First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD - 16 - ## **THE NATIONAL PONY SOCIETY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|**3**|243,264|248,023| |Charitable activities|**4**|400,396|412,011| |Investments|**5**|21,490|25,934| |Other income|**6**|3,957|5,326| |**Total income**||669,107|691,294| |**Expenditure on:**|||| |Raising funds|**7**|17,609|18,380| |Charitable activities|**8**|623,542|624,505| |Total expenditure||641,151|642,885| |Net gains on investments||6,679|3,318| |**Net income and movement in funds**||34,635|51,727| |**Reconciliation of funds:**|||| |Fund balances at 1 November 2024||908,614|856,887| |**Fund balances at 31 October 2025**||943,249|908,614| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 17 - THE NATIONAL PONY SOCIETY BALANCE SHEET AS AT31 OGTOBER 2025 2025 2024 Notes Flxad assèts Tangltsle assets Investments 14 15 2,879 519.650 2,528 493.302 $22,529 495,830 urrent a88et• StoL*s D¥blui¥ Cash at bank and Irj h 16 17 11,210 20,351 410. 10,768 19.827 40J,207 441,924 435.802 Crnditora: amounta fallin9 due within Qh• y4Ar 48 121,204} (22,8181 Not curront ¥$¥•tv 4?o.no 412,784 Totsl a88•ts IM• curr•nt Il•bllltl 943.249 8.614 Th• funds ot the Charlty Unrastricted fijnds 943,249 )8,814 943,249 908,814 The finandal slalements were apprmd by the Trustees on ......................... C Evans Trustee Lompany regisvaiion nurnber LNXllltibJ (Èngland and KÈles) 18- ## **THE NATIONAL PONY SOCIETY** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ |**2025**
**Notes**
**£**
**Cash flows from operating activities**
Cash generated from operations
**24**
**Investing activities**
Purchase of tangible fixed assets
(1,228)
Purchase of investments
(192,329)
Proceeds from disposal of investments
172,660
Investment income received
21,490
**Net cash generated from investing activities**
**Net cash generated from financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**£**
4,563
593
-
5,156
405,207
410,363|**2024**
**£**
(1,507)
(760)
(15,426)
25,934|**£**
22,473
8,241
-| |---|---|---|---| ||||30,714
374,493| ||||405,207| - 19 - **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **1 Accounting policies** ## **Charity information** The National Pony Society is a private company limited by guarantee incorporated in England and Wales. The registered office is c/o Gravita Oxford LLP, First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 1JD. The address of its principal office is RASE Centre, Stoneleigh Park, Kenilworth, Warwickshire, CV8 2LG. The liability of each member in the event of a winding up is limited to £1. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Accumulated surpluses in the Unrestricted Funds (the General Fund), are available for use at the discretion of the Trustees in the furtherance of the charitable objectives, except that amounts representing the fixed assets are not actually available for spending. Restricted funds are subject to specific conditions imposed by the donors. The charity currently holds no restricted funds. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income is shown in the statement of financial activities when that income has been received or is receivable, and where entitlement is not conditional on future events. Gifts in kind are included at their estimated market value. Legacies are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Annual membership subscriptions are recognised in the accounts in the financial year to which they relate. Life membership subscriptions are allocated to a separate fund and an appropriate annual transfer made to the income and expenditure account. Interest receivable is accounted for on an accruals basis. - 20 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is included on an accruals basis. Costs of raising funds are predominantly those costs associated with providing the benefits associated with membership of the Society, the cost of fundraising events and the costs of managing the charity's investments. Direct charitable expenditure relates to the delivery of the Society's main activities and services in relation to the promotion and protection of ponies and the acquisition, maintenance and distribution of knowledge connected with the management and use of ponies. Support costs are allocated to costs of charitable activities, and are split between activities in proportion with the relevant costs for these activities and the governance of the charitable company and its assets and are primarily associated with strategic, constitutional and statutory matters. Where possible, expenditure is matched with the activity to which it relates. Support costs that are not directly attributable to an activity are apportioned between each of the projects based on the direct expenditure allocations. ## **1.6 Tangible fixed assets** Tangible fixed assets are recorded at cost or, in cases where assets have been donated to the Society at valuation at the time of donation. All assets acquired for continuing use and costing more than £100 are capitalised. Provision is made for depreciation on all tangible assets, at rates calculated to write off the asset, less estimated residual value, over its expected life as follows: Equipment 33% straight line Fixtures and fittings 10% straight line ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Stocks** Stocks represent rosettes held, which are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **1.9 Investment assets and income** Investments are held at market value. Income from investments is shown in the statement of financial activities when that income has become receivable. Changes in the market value of investments held are recognised in the statement of financial activities as unrealised gains or losses on investments. ## **1.10 Leases** Annual rentals paid under operating leases are charged to the statement of financial activities on a straightline basis over the lease term. - 21 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There were no material accounting estimates in the year to note. ## **3 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Donations and gifts|94,405|101,881| |Subscriptions|148,859|146,142| ||243,264|248,023| ## **4 Charitable activities** |Show income
Pony registration and prefix income
National Pony Society review
Branch income|**2025**
**£**
225,744
20,964
4,242
149,446
400,396|**2024**
**£**
238,765
20,971
5,057
147,218| |---|---|---| |||412,011| ## **5 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Other income|6,212|7,328| |Interest receivable|15,278|18,606| ||21,490|25,934| - 22 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **6 Other income** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Other income|3,957|5,326| ## **7 Expenditure on raising funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Fundraising and publicity**||| |Membership schemes and social lotteries|17,609|18,380| |**Charitable activities**||| ||**2025**|**2024**| ||**£**|**£**| |Show expenditure|317,852|330,875| |Pony registration expenditure|2,204|2,352| |Welfare and education|1,789|1,949| |Branch expenditure|129,840|127,260| ||451,685|462,436| |Support costs (see note 9)|160,761|151,500| |Governance costs (see note 9)|11,096|10,569| ||623,542|624,505| **8 Charitable activities** - 23 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **9 Support costs allocated to activities** |Staff costs
Depreciation
Bookkeeping fees
Premises costs and insurance
Travel and subscriptions
Printing, postage and stationery
Irrecoverable VAT
Other costs
Governance costs
**Analysed between:**
Charitable activities
**10**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
**11**
**Employees**
The average monthly number of employees during the year was:

**12**
**Staff costs and emoluments**
Salaries and wages
Social security costs
Pension costs|**2025**
**£**
57,913
876
3,306
23,081
3,896
22,633
23,250
25,806
11,096
171,857
171,857
**2025**
**£**
11,000
876
**2025**
**Number**
4
**2025**
110,109
3,937
1,480
115,526|**2024**
**£**
57,097
583
1,547
23,439
2,855
24,467
20,270
21,242
10,569| |---|---|---| |||162,069| |||162,069| |||**2024**
**£**
10,000
583| |||**2024**
**Number**
4| |||**2024**
107,203
5,479
1,438| |||114,120| No employee received emoluments of more than £60,000 (2024: none). ## **13 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 24 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ |**14**|**Tangible fixed assets**|||| |---|---|---|---|---| |||**Equipment**|**Fixtures and**|
**Total**| ||||**fittings**|| |||**£**|**£**|**£**| ||**Cost**|||| ||At 1 November 2024|499|10,566|11,065| ||Additions|-|1,228|1,228| ||At 31 October 2025|499|11,794|12,293| ||**Depreciation and impairment**|||| ||At 1 November 2024|499|8,039|8,538| ||Depreciation charged in the year|-|876|876| ||At 31 October 2025|499|8,915|9,414| ||**Carrying amount**|||| ||At 31 October 2025|-|2,879|2,879| ||At 31 October 2024|-|2,528|2,528| |**15**|**Fixed asset investments**|||| |||||**Unlisted**| |||||**investments**| |||||**£**| ||**Cost or valuation**|||| ||At 1 November 2024|||493,302| ||Additions|||192,329| ||Valuation changes|||6,679| ||Disposals|||(172,660)| ||At 31 October 2025|||519,650| ||**Carrying amount**|||| ||At 31 October 2025|||519,650| ||At 31 October 2024|||493,302| |**16**|**Stocks**|||| ||||**2025**|**2024**| ||||**£**|**£**| ||Rosettes held||11,210|10,768| - 25 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **17 Debtors** |**Debtors**||| |---|---|---| |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
1,833
8,992
9,526
20,351|**2024**
**£**
6,561
3,704
9,362| |||19,627| ## **18 Creditors: amounts falling due within one year** |**Notes**
Deferred income
Trade creditors
Other creditors
Accruals|**2025**
**£**
5,247
268
3,068
12,621
21,204|**2024**
**£**
7,855
741
2,421
11,801| |---|---|---| |||22,818| Deferred income relates to membership income received in advance. ## **19 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1**
**November**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31**
**£**
**£**
**£**
**£**
Welfare fund
200
-
-
-
Life membership fund
3,250
-
-
-
General funds
905,164
669,107
(641,151)
6,679
908,614
669,107
(641,151)
6,679|**October**
**2025**
**£**
200
3,250
939,799| |---|---| ||943,249| - 26 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ |**19**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 1**|**Incoming**|**Resources**|**Gains and**|
**At 31 October**| |||**November**|**resources**|**expended**|**losses**|**2024**| |||**2023**||||| |||**£**|**£**|**£**|**£**|**£**| ||Welfare fund|200|-|-|-|200| ||Life membership fund|3,250|-|-|-|3,250| ||General funds|853,437|691,294|(642,885)|3,318|905,164| |||856,887|691,294|(642,885)|3,318|908,614| ## **20 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2025**|2024| ||**£**|£| |Fund balances at 31 October 2025 are represented by:||| |Tangible assets|2,879|2,528| |Investments|519,650|493,302| |Current assets/(liabilities)|420,720|412,784| ||943,249|908,614| ## **21 Operating lease commitments** At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases relating to office rent and the IT contract, which fall due as follows: |Within one year
Between two and five years|**2025**
**£**
5,261
5,400
10,661|**2024**
**£**
6,733
-| |---|---|---| |||6,733| ## **22 Related party transactions** Trustees received no remuneration during the current or preceding period. All key management personnel were Trustees. Trustees received reimbursement for expenditure during the period amounting to £2,132 (2024: Trustees received £3,020). Certain trustees were reimbursed for expenditure amounting to £4,221 (2024: £6,852) incurred for activities undertaken in roles other than as trustees of the charity such as judging competitions. All such transactions are contracted on an arm’s length basis. During the year no gifts were made to trustees. - 27 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ |**23**
**Areas' income and expenditure**
**Total 2025**
**£**
Opening balance as at 1 November 2024
267,428
Total income
149,446
Total expenditure
(129,840)
Closing balance as at 31 October 2025
287,034
Areas' income is split between:
**Total**
**£**
Donations and legacies
5,102
Income from charitable activities
141,079
Other Income
3,265
Total income
149,446
Areas' expenditure is split between:
**Total**
**£**
Expenditure on charitable activities
129,840
**24**
**Cash generated from operations**
Surplus for the year
**Adjustments for:**
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
(Increase) in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
(Decrease)/increase in deferred income
**Cash generated from operations**|**Total 2024**
£
247,470
147,218
(127,260)
267,428
**Total**
**£**
9,705
135,255
2,258
147,218
**Total**
**£**
127,260
**2025**
**2024**
**£**
**£**
34,635
51,727
(21,490)
(25,934)
(6,679)
(3,318)
876
583
(442)
(132)
(724)
1,048
995
(9,356)
(2,608)
7,855
4,563
22,473| |---|---| - 28 - ## **THE NATIONAL PONY SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_ ## **25 Analysis of changes in net funds** The Charity had no material debt during the year. - 29 -