RDA It's what you can do that counts Company number.. 5010395 Charity Number.. 244108 (England and Wales). SC039473 (Scotland) Riding for the Disabled Association incorporating Carriage Driving Report and financial statements For the year ended 31 March 2024 11111 *ADCV071C• 02110r2024 CWPANIES HOUSE A10 #77 Rldlng for the D15abled Assoclatlon Incorporatlng Carrlage Drmng Contents For the ￿ ended 31 March 2024 Chair's iniroduction Trustees, annual repon Reference and administrative information .20 Independent auditor's report ....................................................-............................................. .26 Consolidated statement of financial activities .30 Balance sheet5 31 Consolidated statement of cash fl¢)ws .32 Notes to rhe financial siaiemenis .33 The financial statements comply with current statutory requirements, rhe memorandum and articles of association. Ihe requirements of a direciors. report as required under company law, and the Statemeni of Recommended Practice Accouniing and Reporting by Charities.. SORP applicable to charities preparing their accounts in accordance with FRS 102 Rldlng for the Dlsabled Association incorporating Carrfage Drmng TfUStees' annual report For the year ended 31 March 2024 CHAIR'S INTRODucfioN Welcome to the Riding for the Disabled Association's IRDA) Annual Report for 2023124. In the last 12 months. our mission to enrich people's live5 Ihrough horses has never been more relevant. This is reflected through the huge breadth of RDA services - from therapeutic ridin9 SUPPOrting disabled children as young as four through the power of movement: to the freedom found through carriage driving for those unable to ride," to Tea with a Pony bringing happiness to the elderly. often affected by dementia and other age-related illnesses. Increasingly, people are recognising the profound benefits of the human-horse interaction which is so central to RDA'S purpose. and we play a pivotal role in demonstraiing and reinforcing the harrnony of this relationship. As a pioneer in the use of equine therapy, a leader in disability sporr, and the only Major chariry in the Uniied Kingdom {UK) dedicated specifically to the therapeutic and health benefits derived from the connection beNieen people and horses. RDA is at the forefront of responding to some of the UK'S most pressing and growing societal challenges. I was therefore honoured to be appointed as Chair of Trustees for the RDA in November 2023. and it is a privilege to lead such a highly respecied organisarion with a long-standing record of enhancing the lives of people living wilh disabilities. As Chair, one of my first priorities was to aP￿in[ our new CEO and l am delighted that Michael Bishop joined u5 earlier this year, bringing a wealth of experience across the public benefit and equine sectors. I would also like to extend my thanks and graiitude to Frances Lochrane for her invaluable service to the RDA and for taking on the role as Interim Chair through the earlier part of the year. We continue to build a stronger, more resilient or9anisation in the face of a challenging funding and regulatory environment. And as I reflett on thi5 past year, l am pleased io report that panicipation in RDA activities has seen continued growth. with over 20.000 disabled participants now experiencing the benefit and transformative relationship between people and horses. This progress is only made possible by the exceptional skills and dedication of our 13.000 volunteer5. across over 400 RDA Croups throughoui the UK and I have been truly inspired by the hard work and commitment required to achieve Ihis. often over many years and lifetimes. and forming the heart of our much-cherished RDA famity. The RDA movefflent remain$ Strong and dynamic. with many Group5 demonstrating innovation and adapiability in supporting our panicipants through a wide array of activities. This is reflected in one of the notable highlights from the past year - the National Championships - which has become a cornerstone of the many disciplines within the RDA community. from carriage driving and show jumping. through to Vaulting and Showing. Additionally, the development of the Princess Royal Coaching Academy has fostered the grofflh of highly skilled coaches. who are now sharing Iheir expertise with a broad range of participants in both ridden and non-ridden horse-related activities. for therapeutic health and wellbeing benefit. Ridlng for the Dlsabled As%Kiation incorporating Carriage Drfvlng Trustees, annual report For the year ended 31 March 2024 As we celebrate our 55th annrversary. l am optimistic and excited about the future and the opportunities to deepen our impact. I would also like to express my heanfelt thanks to every coach, volunteer, staff member. and supponer within the RDA community - our collective achievement5 are only made possible through each and everyone's dedication and support. Thank you. Helena Vega-Lozano RDA UK Chair of the 8oard Ridlng for the Dlsabled A550ciation incorporating Carriage Drlving Trustees. annual report For the year ended 31 Marth 2024 ANNUAL REPORT 2024 The Trusiees present their repon and ihe audited financial Statements for the year ended 31 March 2024. At Riding for the Disabled Association {RDA). our horses benefit the lives of over 20.000 disabled children and adults. RDA is the only major UK charity whose focus is squarely on the therapeutic and health benefits of bringing people and horses togeiher. Through activities like riding and carriage driving. we provide therapy. fitness. skills development and opportunities for achievement, all supported by 13.000 amazlng volunteers and quallfled coaches at over 400 RDA cenires all over the UK. These 400 centres are each registered charities and members of the national charity. This report looks ai the work of rhe national charity and the overall network in the reporting period l April 2023 31 March 2024. Comparable figures for the previous financial year1202212023) are shown alongside throughout the repjrt. l.I Purpose and aims In 2024 RDA celebrates its 551h anniversary. recognising a long history of enrichin9 the lives of disabled people through horses. RDA'5 role is to provide disabled people with ihe opportunity to engage wirh horses for the benefit of their health and wellbeing. Our Vlslon To enrich the live5 of all disabled people ihrough horses. Our Purpose To ensure that all our panicipants get an excellent experience with RDA, according to their specific need5. Our Values I. RDA is a community of people who believe that it's what you can do thar counts and who enable participants and volunteers to achieve their goals.. 2. RDA values the input of all people who are involved - participants. volunteers and paid staff.. 3. RDA ensures that development and achievement is recognised and celebrated across the organisaiion". 4. RDA aims to deliver an excellent service and experience for all participants and volunteers: 5. RDA recognises the central part that horses and ponies play in everything we do. Rldlng for the Dlsabled Assoclatlon Incorporatlng Cavriage Drlvlng Trustee5' annual report For the year ended 31 March 2024 1.2 Our role in society RDA changes live5 across the UK. providing opponunities tQ Spend time with horse5, take part in physical exercise and equestrian sport within an inclusive and supportive community. We welcome people of all ages and abilities with physical and learning disabilities. long-term health conditions and neurodiversiiy. Our actwities enhance physical and menial healrh, build and improve skills. provide opportunities for social inclusion. achievement. and employability. RDA demon5trate5 rhat horse5 have a unioue role to play Fn addressing today's societal challenges. The need for our work has never been greater. and many RDA GfOUPS across the UK have long waiting list5. In the UK. more people than ever before are living with disabilities, long-term health conditions. and experiencing mental health challenges. According to rhe latest UK Governmeni estimates. disabled people account for 24%1 of the total UK population. This refers ro people who have a physical or mental health condition or illness thar has lasted or is expected to last 12 months or more. In this context, RDA has a clear and vital part to play in helping to address the inequalities they face when it comes to accessing activity and the natural environment. Disabled adults are almost Thyice 147.9%) a5 likely as non-disabled people to be physically inactive (Sport England, Active Lives Adult Survey. November 2022-23). and more than three times more likely to often feel lonely than non-disabled people IONS 20201. The UK Governmeni's National Disability Strategy aim5 to widen participation in sport and transform the lives of all disabled people. including those with visible and invisible impaimients and those who do not identify as disabled. RDA Groups report increasing demand for rheir services from those affected by long-term health conditions including mental health and dementia. and we are uniquely placed and trusted to support ihese participants. RDA would not exist withoui the skills and dedication of volunteers, and part of our role in Society is our responsibility to those volunteers. Volunteering offer5 people benefits and opportunities to gain confidence. acquire new skills and knowledge. get active. make friends and improve physical and mental well-being. 11 tA¥P Famlty Rtswl¢ts Rldlng for the DIsa￿ed Assoclatton Incorporatlng Carrla9e Drfvlng Trustees. annual report For the year ended 31 March 2024 RDA 15 the only major UK charity whose focus is squarely on the therapeutic and health benefits of bringing people and horses together, and this makes a significant difference to people's lives. Our aciivities are recommended by Physiotherapists and Ckcupational Therapists. and the majority of our participants are referred to RDA by a medical professional. Many of our participants say that RDA activity is their main way of accessing physical exercise. and we have a positive. long-term impact on confidence levels. relationship building, communication skills. enjoyment and physical ability. Re9ular riding improves core strength, balance and coordination and our welcoming groups help to combat Isolation and lonelines5 and boost wellbeing and happiness. In 2024 RDA celebrates 55 years of enriching lives throu9h horses. RDA remains a pioneering force for good, positively impactin9 the lives of over 20,000 d15abled children and adults, through more than 400 group5 and 57 accredlted rkllng schoo15, all supponed by 13,000 volunteers and 2.700 remarkable horse5. 2.1 Participation RDA is committed to ensuring the needs of its 20.000+ particlpants are met through a broad range of activities (ridden and non-ridden). these are delivered from over 300.000 attivity 5e551ons. whilst addressing the inequalitie5 participants face when it comes to accessing aciivity and the naiural environment. RDA Groups deliver a broad range of activities through iheir diverse range of facilities. all are focussed on the unique relationship betsveen people and horses. These range from unique sporting opportunities to non-ridden rherapeutic sessions. Govlnd SLlrted riding as part of his therapy when he was 5. He 5ay5 If changed his life - he felt for the fir5f fime he truly belonged sOn￿￿￿ere. When he is on his horse, he forgets hAs disability and feels like a totallF differenrper50n. Riding has b005red hi5 confidence and self-esteem. He currently is a grade I classified rider and hopes ro be in Parafympic5 sOn￿daY and represent UK. Natlonal Championshlps The RDA National Championships are the biggest event in the RDA calendar. For our participants who compete. they represent the culmination of all their hard work and determination. They are the biggest equestrian event of its kind for disabled competitors. In 2023 RDA Naiional Rlding for the Dlsabled Assoclation Incorporatlng Carrfage Drlving Trustees, anftual report For the year ended 31 March 2024 Championships returned to Hartpury University & College raking place on the 14rh _ welcoming participants from across the UK, the event included= 6thJuly 2023. 384 competitors Uuly 2022.. 350) from 86 groups (July 2022.. 83). who took pan in 12 classes Uuly 2022.. 961. covering a range of disciplines from Carriage Driving to Vaulting. using 195 horses Uuly 2022.. 1801. all of which sUPPOrted participanrs in • 634 clas5 entries Uuly 2022.. 4451. The event was live streamed through Facebook. YouTube and Horse & Country+ ro enable virtual support 111.037 view51. A participant said I have grown up wirh rhe RDA in my life," I cotsld n.de before J ever walkedl Riding gives me the freedom to feel independent, it is a specialplace to be. rhe RDA Narionals is the highlighr of my yearl love meering up wirh friends from all over rhe counrry. The achievemenr is jU5f qualifying andgetting fhere andjusr enjoying rhe experience and making sure you have funl - Virtual National Championshlps 2023 Saw RDA Virtual National Championships return for a third year running, this took place on the 18th and 19th November 2023 and was broadcast on YouTube and Facebook by Equestrian Commentators having 4.532 views Rldlng for the D15abled Assoclatton Incorporatlng Caffiage Ormng Trustees. annual report For the year ended 31 March 2024 The event covered 8 disciplines and had 386 entries (Nov 2022.. 527) from 63 groups (Nov 2022.. 183). Akjne Coney- Nafional Championships Lead of rhe Commirree. Honorary Life Vice Presidenr, Group Chair of the 8ank Farm Group, Narional Level Driving Assessor. Showjumping Assessor- -since these Championships were introduced In 2021. theyhave proved to be a grear success. Theygive manyparticipants who cannot travelto rhe Narional chaMp￿nShIpS atHartpury the chance to compere." Tea wlth a Pony RDA created Tea with a Pony in response to the growing number of people living with dementia. for whom hor5e-riding may not be suitable but who might be helped by some other form of animal-assisted activity involwn9 horses. Tea with a Pony is a simple. yet very effective session and RDA are now inviting care home residents and those living in rheir own homes ro enjoy a cup of lea and cake. ai the participating RDA groups. whilst revisiting memories from years gone by. The programme continues to go from strength to strength with l in S groups now providing this activity. RDA a￿ incredibly grateful to Horses for Health for their support over the past t*Y> years. which has hel￿ to sustaln and grow thls programme. One lady gor so much from her session that her daughier said.. 'Ir seems ro have helped her Men￿ryI l in nor sure how. buf ir has. and. more than anything. it's been like a light has rumedback on again. Irs the warmih of an aninMI. an animal rhar rrusfs YOU - the presenr fades away and ir rakes her back tojust wam? memories" Sport England Together Fund Grants In April 2022. RDA was awarded a grant of £243.950 from Sport England Together Fund aimed at increasing physical activity. This grant spanned funding over 2022123 and 2023124 and covered 2 areas of focus.. supporting groups - through grant applications. SUPPOrting them to grow or rebuild participation by developing new programmes and activities, training volunteers and purchasing equipment. 5upponed a pilot scheme in Yorkshire - securing colleagues ro actively work alongside our regional and county volunteer teams to grow confidence. increase Ridlng for the Disabled Assoclation incorporatlTr9 Carriage Drlving Trusiees, annual report For the year ended 31 March 2024 partrciparion. fundrarsed income and volunieers a5 well as developing new partnerships and propositions This resulted in 28 grants awarded to groups supporring Innovation to Engage and Hardship ensuring the sustainability of those groups. 2.2 Volunteers & Coaches RDA would simply not exist without the dedication of our 13.000 volunteer5 and 2.370 sk511ed coaches. We are incredibly grateful to all those who so generously give their time and expertise to support RDA participants and care for our horses, week in week out. Volunteers are the backl)one of the RDA movement. and we cannot thank them enough. Coaching RDA coaches are highly skilled and a vital parr of our volunteer workforce. In 2023124, there were approximately 2.370 RDA coaches 12023". 2,6001 trained or in training covering Carriage Driving, Riding and Vauliing across ihe UK. RDA is committed to the continuous professional development of our coaches, ensuring that RDA Coaching methods remain effecttve and ensure the best outcome for all participants. 2023124 saw the third year of our flagship Princess Royal Coach Academy {PRCA) programme aimed at developin9 our most senior coaches as mentors to the wider coaching cohort and building knowledge and insight for ihe benefit of the wider federation. This programme has developed 13 coaches and a further 7 will be developed in 2024 12 5. The programme utilised the knowledge and experience of 12 RDA coache5 to mentor the advanced coaches through the programme. These advanced coaches represent the pinnacle of RDA coaching recognition, and each shares their knowledge and passion in their region. allowing them 10 multiply their irnpact. The success of this programme will be felt in years to come. as the advanced coaches inspire enhanced trainin9 of others and encourage volunteers to follow in their foorsieps throughout their network5. One PRCA coach mentor said" 'fhe St￿Cture ofPRCA has enabled us to develop our skillset through stretching and challenging us andgiwng us new way5 of thinking about what we do. I now evaluate what I do in my coaching and how l am asking my horses and riders to perfom7.' Kady Chatman, PRCA Alumni 2024 - 'PRCA is not just about you.. it's about what you can do for others" Riding for ihe Dlsabled Associatk+n Incorporatin9 Carrlage Driving Trustees. annual report For the year ended 31 March 2024 Coaching Conference The Coaching Conference was held over 12th and 13th November 2023 providing opportunlties for our coaches ro develop. improve and grow in confidence through acquiring new knowledge, skills and experiences. Attendance was 129 12023.. 1061. The conference provided an opportunity to recognise the valued contribution that Coaches make, with awards presented for: Coach of the year.. Young Coach of the year= New Coach of the year: Coach Mentor of Ihe year and The Extra Mile Award. Young Coach of the Year. Isla Stewart from Muirfield Riding Therapy I started volunreenng on a Saturday morning at Muirfield Riding Therapy when I was 14. Last yearl decided ro furthermy involvemenf by doing my coaching qualification. I work a5 part of an amazing team of volunteers along with coaches Kym and Caroline. Every week Iger ro coach our riders and See them progress. li is an honour to receive rhe award of RDA young coach of the year. l am delighted rhar I am being recogni5ed lor doing somerhing I enjoy andl am protsd ro be part of." Royal Recognition RDA is prNileged to have the valued support and dedication of our President. HRH The Princess Royal. Between April 2023 and March 2024. The Priftcess Royal visited RDA Groups acr055 the country= Avon Croup - to celebrate 40 years of the Group., Nantwich & District Groups to officially open a new building and facilities at Reaseheath College for RDA use and Digswell Place io celebrate 50 years of the Group. Ridlng for the DlsalAed A55¢xlatlon Incorporating Carriage Drfving Trusiees. annual report For the year ended 31 March 2024 Presidents Awards The President's Award is RDA'S most prestigious award and is presented to a limited number of volunteers each year. Each volunreer must have completed a minimum of 30 years voluntary service to RDA. In 2023124 RDA presented 7 2 12022123.. 15) awards across the UK at various Royal visits to RDA Groups. Injanuary. five volunteers were presented rh RDA s most prestigious award, for ourstanding sernce to RDA overa period of 30 years or more. Travelling from across the UK, rhese incredible volunteers were presenred their award by RDA president HRH The Princess Royalat the opening of fhe Plarinumjubilee Stables and the Nanrwich & DiSfricr RDA Centre at Reaseheath EquesrriJn College. RDA wishes each volunreera huge congrarulations and thank you for rheir unw3venng dedicaiion. 2.3 RDA Equines In 202 3124 2.600 equlne5 had an esseniial role in delivering RDA's life changing impact for disabled people 12022".2,7431 and the welfare and wellbeing of our hoTses is paramount to our participants, volunteers and all of us at RDA. We are commitied to the highest Standards of welfare and care in the treaimeni of horses within all RDA activities and ensuring thar the horses we work with are always treated with cornpassion. kindness and respect. Charter for the Horse As responsible rnembers of the equestrian community. alongside British Equestrian, fellow member bodies and associated industry leaders. RDA has pledged to the Charter for the Horse unified approach for the ethical and fair treatment of all horses under our care. Under the six heading5 of empaihy. care. respect. consideration. ethics and learning, the Charter ouilines the actions we observe io ensure that the individual mental, physical and behavioural needs of all our horses are met. 2.4 Developing RDA RDA Groups across the UK continue to deliver life-changing opportunities for disabled people. 5UPPOrted by RDA UK, the national office. This vital support for Groups only exists thanks to the generosity of donors and volunteers. Throughout 2023124 we have focused on laying the foundations for improvements to this national 5UPPOrt for RDA Groups lour rnembersl. Riding ft>r the Disabled A550clation incorporatlng Carriage Drmng Tru5tees' annual report For the year ended 31 March 2024 Building a Community of sUPPOrt RDA relies on the support of our volunieers. partners and donor5. and this year we attended several events to raise awareness and understanding of RDA'S work.. Charity of the Year partnerships at Bolesworth Intematlonal and Cornbury House Horse Trlals. We were delighted to be chosen as charity partner at these two prestlgi0115 events. attending both for the first time and engaging with new audiences with the support of local RDA Groups. At Cornbury House Horse Trials. we partnered with New Yatt RDA and Cotswold RDA, with the event raising over £8.000 in total. Blalr Horse Trials (Scotland) and Badmlnton Horse Trials we continued our long- standing relationships with these two major events within the equestrian calendar. welcoming hundreds of people to our stands and building our community of suppon. Great Yorkshlre Sh￿- one of the largest agricultural events in the UK and was the firsr year the show had an RDA national presence. The aim wa5 to inspire and engage wirh audiences and create a wider profile of RDA activity with dernonstration5 of Countryside Challenge and RDA Dressa9e. UK Porfon - Europe's longest running My Little Pony convention and long- standing RDA supporter. helped raise over £12.000 for RDA. London Marathon - in 2023 RDA were allocaied 6 places for the London Marathon with runners raising over £1 0.000 for RDA. including Peter McKnight. Fiancee of Paralympian Sophie Christiansen: -Having wanted to for years. lam finallyrunning ihe London mararhonl To be make it even berter Ishall be running fora charity that 15 very meaningful fo me. The RDA playeda pivotal role in my fiancee s life. Horse riding from a young age providedphysical therapy in a fun social enwronmenf and ultimarely led fo her compering in dressage. becoming a Paralynipian. and winning 8 gold medals for Grear Britain. The People's Postcode Lottery Thi5 financial year we celebrated receiving over £5 million and l O years of support by the People's Postcode Lottery. Over the last decade. therr generous unrestricted fvnding has enabled us to provide our groups with coniinued support and training which has helped enrich the lives of thousands of participants across the couniry. Equallty. Diversity & Incluslvlty (EDI) Being inclusive is at ihe heart of everything RDA stands for, and we coniinue to seek further improvemenr in ensuring our organisation is a welcoming. supportive and inclusive space for everyone. Riding for the Dlsabled Assoclatlon Incorporating Carrlage Drmng Twstees, annual report For the year ended 31 March 2024 RDA is growing a porrfolio of case studies from wiihin RDA Croups and Accessibility Mark Centre5 designed to highlight the diverse communities that already exist in our ￿e￿Ork and 15 workin9 wsih the British Equestrian Federation IBEF) io develop and standardise methodology of gathering EDI daia and metrics so that we can show the impaci of ihe work RDA doe5 as well as share the experiences of participants. Rldlng for the Disabled Associatknn Incorporating Carwe Driving Twstees, annual report For the year ended 31 March 2024 The Financial Statements for the year ended 31 March 2024 included in this document should be read in conjunction with this review. The Consolidated Siatement of Financial Activities shows a deficlt (net expendiiure) for the year of £222,884 12023: £649.907 deficit Inet expendiiure)) which was an Imp￿ed posltlon on the budgeted deficir of £355.500 for 2023124. The net position of £222.884 is after realised and unrealised investment movements of £94.255 gain 12023= £5 15,290 lossl. Income Total income for 2023124 increased for another year to £2.404,971 12023.. £2,365,301). RDA income is received from multiple sources which include5.' Fundraising & Sponsorship Donation5 Glfts Grants and Legacies Legacy, gifts and donaiions are by their nature variable and rn0￿ difficult to predict. Legacies comprise a major source of income and the generosity of those who choose to remember RDA in their wills remains of long-term importance io the charity. The breakdown of these income streams is detailed in Note 2 to t17e accounts. RDA is grateful for all the financial support it receives which ranges from national oiganisations like Peoples Postcode Lottery. to individual Pay As You Earn donations. all of which without. RDA would not be able to undertake the charitable activitie5 that have an impact on all. Expendlture Expenditure totalled £2,722.110 12023.. £2.499.9181, the maierial reasons for the increase on the previous year is as follows.. Resource recruitment and vacancies being filled (£164k increase in 2023124). External advisors supporting organisational and governance development (£44k increase in 20231241. GloballNational increase in all areas of cosrs impacted by boih post pandemic and the economy e.g. horse care products. utilities etc l£15k increase in 20231241. Overall grants awarded directly to groups toialled £103.267 12023= £109.492). more detail is shown in Nore 8 to the accounts. Riding for the Disabled Assoclatlon Incorporatlng Carrlage Drmng Trustees, annual report For the year ended 31 March 2024 Balance Sheet as at 31 March 2024 The value of the charitable group's nei assets amounted ro £6,974.748 12023-. £7.197,632). a decrease of £222,884 due to the expenditure referred to above. A significant proportion of RDA'S net assets [93￿ are held in fixed a5set5. fixed asset5 are split between operational assers149.9%) and investments 150.1%). The value of investments held by the group as at 31 March 2024 was £3.237.710 12023= £3,152.911), the increase is due to in¥e5tment gains. Investments The Trusrees seek to mainrain the real value of RDA'S investrnent portfolio. while at the same time generating a balanced return from incorne and capital 9rowth. JM Finn & Co is engaged to advise the Trustees on investment matters. The Investment Committee meets regularly wilh the investment advisers to review performance and to review the investment policy. This policy accepts that there is a need to encourage best practice in socially responsible investment 'SRI". The investment policy is to have a diversified portfolio of bonds and fixed interest funds, UK and overseas equities and a proportion of infrastructure and property funds. The proportion held in equities was at 65% at the year end and ihe balance was held in bonds. infrastructure and property funds. The Trustees monitor these proportions. the portfolio performance and overall income generaied from the investmen15 on the advice of the Investment Advisers. Investment income wa5 £99.193 12023.. £101.313). Over the year ended 31 $1 March 2024 the portfolio appreciated +5.4% in iotal reiurn terms. behind the benchmark return of +9.7%. although the investment managers have continued to maintaln rhe portfolio's overall income flow over the past year. in spite of the market focus being on growth rather than income. Should interest rates fall over the coming year then investment managers are confident that ihe portfolios should perform well in both capital and income terms going forwards. Prlnclpal r15ks and uncertalntle5 The Trustees continue to monitor the major risks to which the Charity is exposed. A risk register is in place and system5 and procedures to support the mitigation of the risks faced. Key risks are reviewed during rhe year as part of a cycle of periodic review to ensure thar risks are accurate. mitigations are updated and acrioned and continue to meet rhe needs of the Charity. Risk is considered formally in the Finance. Audit and Risk Committee, a subcommittee of the board which meets at least four times a year. as well as by the full Board of Trustees. RDA'S fl¥e key corporate rlsks and associated mitigating action is ser out bebw.. Ridlng for the Dlsabled Associatlon Incorpornting Carrlage Driving Trustees. annual report For the year ended 31 March 2024 Risk Summary mitigations l. Fundfalslng Income does not provide sufficient funding for the Charity to operate. 2. Serlous Incldents impacting on Ihe safety of participants. volunteers. staff and equines. The charity has invested in additional fundraising capacity. ensuring that fundraising resources evidence the positive impact RDA activities have on participants and volunteers. RDA is committed to ensuring the safety of all involved in RDA activities (including equinesl. Routine comprehensive Iraining is undertaken. policies. processe5 and procedures are periodically reviewed and updated capturing a crisi5 rnanagement plan. The membership offer is defined and communicated to members. RDA is committed to the continuous l improvement of the delivery of the benefirs and the communication to its members. including through the recruitmenr and iraining of appropriately skilled and experienced staff The Trustees started a review of the Charity's governance arrangements to ensure they are fit for purpose and comply with the Charity Governance Code. RDA'S commitment to equine welfare 15 paramount and aligns (o standards set by governing bodies and legislation. Alongside British Equestrian, RDA has pledged to the Charter for the Horse, a unified approach for the ethical and fair treatment of all horses under our care. 3.RDA UK falls to meet expectations of federation members in the delivery of its services. 4. Governance and procedures to manage and respond to members needs are insufficient. 5. Changing societal support for the responsible use of horses (soclal liceKe to operate) result in reputaiional risk to the charity. All of RDA'S risks could poientially impact on reputation and financial sustainability." operational risks and mitigations are monitored separately and informs the corporate risk register. Reserves poll(y and ￿n9 concem The Trustees aim to ensure thai the chariry hold5 sufficient reserve5 to provide a high degree of financial resilience in the event of a period of financial difficulty. Trustees approved a general re5eTve minimum balance of S months based on current operating expenses. The aspiration is for 6 - 12 months to ensure sufficient support in response to the current econornic climate. RDA'S unrestrlaed General Funds - used for any purpose so long as it ￿et5 the aims and objectives of the organisation. These funds amount to £1 ,400.067 (2023= £1 ,791.104). representing approxirnately 5.53 rnonths 12023." 6 months) of normal business as usual expenditure. The reduction in the balance has been significantly impacted by the." Rldlng for the LNsabled Association incorporatlng Carrlage Drmng TfUStee5' annual report For the year ended 31 March 2024 investment In infrastrucwre and resources required in 2023124 to deliver business need. The 2023124 budget captured the investment in its infrastruc(ure and resources which contributed to its budget deficit of £355.550. The Charity continues to have reserves to support investmeni in key areas and accelerate progres5 rowards its objectives as well as ensuring over 5 monihs of business cosi coverage. impact of ihe economy on donations and cosrs and increase In the % of donatlons wlth restrfcted actl¥lty. RDA'S unrestrirted Deslgnated Funds - earmarked formally for a particular purpose and can be formally unde5ignated for general fund use. These funds amount to £4.450, 118 (2023.. £4,485,520) of which £595,330 (2023.. £542.656) relares to Regions and Counties leaving a balance of £3,854,788 12022." £3.942.8641. Of the balance 68% relaies to the cost of fixed asset replacement. The Trustees keep the purposes for which the major designated funds were set up under review. to ensure that they remain relevant to the current needs of RDA. The funds held by the 17 Regions are designated to be spent in the regions where the money was raised in accordance with the objectives of the organisation. RDA continue io work with the regional teams to develop plans specific ro each region which will allow us to provide riders. drivers. volunteers and groups Wlth an excellent service and support within each region. Restrlaed Funds - Funds for a particular purpose defined by the donor and where assets must be Used in a reasonable period from receipt. These funds amounted to £1.086.328 (2022= £875.8091. Goin9 Concern The charity has budgeted for an exce55 of expendtture over income of £273.643 for the year to 3 1 March 2025. Ihis represenis a planned. considered investment in key areas. RDA has Sufficient reserves to absorb the planned deficit. In the medium term. the Fundraising Strategy aims to diversify and increase total income. The Trustees consider that preparing these financial statements on a going concern basis 15 appropriate and that there are no material uncertalntles that Impart upon the Charity's ablllty to contlnue operating. Fundralslng Practlces RDA UK takes it responsibilities as a fundraiser very seriousfy and 15 acutely awa￿ thar the work of the organisation is reliant on the goodwill and financial support of the rnany individuals and organi5ations who generously donate money to the Charity- The major forms of fundraised Ridlng for the D15abled A550clation Incorrx)ratlng Carrlage Drmng Trustees, annual report For the year ended 31 March 2024 income are grants. major donors. corpoTate partnerships, gifts and legacies. In each case we take care io manage the expectations. requirements and wishes of the donor. The Chariiy is registered wilh the Fundraising Regulator and we make every effort to meet their standards," Llurrng the year to March 2024. we received no 12023.. nill complaints abour fundraising practices or those of anyone fundraising on our behalf. Alongside this we also ensure our fundraising practices comply with current GDPR practice. We are supported by many generous and committed individuals who raise money for RDA by taking part in a variety of aciivilies, and in these cases we provide guidance, where possible. ro ensure that they also meet the standards that we define. During the year to 31 March 2024. we did not use the services of any exiemal professional fundraisers. however we work with several payroll giving agencies to recruii regular donors to gift directly from their salaries. We also work with several companies who support us by donating a percentage of profits on specific items that are sold for our charitable activities in these cases %Ye have agreements in place on the delivery of the partnership. It should be noted rhat RDA UK raises funds to support the work described in this annual report. As a federation. our member groups raise their own funds and therefore their fundraising practices fall outside the scope of this report. However. we work hard to support our member groups, fundraising and ro ensure that they also act reasonably and in line with rhe Association's values. As part of our commitment to EDI we have joined with all Britlsh Equestrian member bodies in a pledge io.. make equestrianism representstive of ihe diverse communities around us., grow a welcoming communiiy for all who are united by a passion: ensure respect for the horse and to promote the benefits of equestrianism on mental and physical health and wellbeing. To that end we now have a dedicated working group supporting our EDI policy. Rldlng for the Dlsabled Assoclatlon Incorporatlng Carr* Drlvlng Reference and Adrn1ntStrat￿ Inf0M￿tIOn For the year ended 31 MaKh 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Company number 5010395 Country of Incorporatlon United Kingdom Charfty number 244108 IEngland and Wales). SC039473 (Scotlandl Country of reglstratlon England & Wales. Scotland Registered office clo Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol England 854 4QA Operatlonal address Lowlands Equestrian Centre Old Warwick Road Shrewley Warwickshire CV35 7AX Within the Trustees. annual report. "RDA" and "RDA UK" are used to refer to Riding for the Disabled Association incorporating Carriage Driving. RDA UK complies with all regulatory bodies including Office of the Scottish Charity Regulator IOSCR). The activilies described throughout rhi5 report are broadly the same across all part5 of the UK however where if it is specific it is referenced. RDA works closely with all partners across the UK including HorseS(otland, Sport Scotland and Scottish Disability Sport. Trustees Trustees, who are also director5 under company law. are required to meet for ordinary meetings no less than four times per year. Those who served during the year and up to the date of this report were as follows.. 20 Rldlng for the Dlsabled A550clatlon InCO￿oratIng Carrfage Drlvlng Reference and Administrative Information For the year ended 31 March 2024 Name Role Appolntment or Reslgnatk)n In 2023124 Appointed l August 2023 Resigned 25 October 2023 Helena Vega-Lozano Frances Lochrane Simon Bragg Neil Goldie-scoi Barbara Man50n Emma Wells Ellie Orton OBE Lindsay Correa Rachel Vaughan-johns Sally-Anne O'Neill Chair Acting Chair Honorary Treasurer Honorary Treasurer Resigned 2 5 Ociober 2023 Appointed 28 June 2023 Resigned 25 October 2023 Company Secretary Veale Wasbrough Vizards LLP Executlve Team The Trusiees delegate responsibility for the day-to-day management of the charity to the Chief Executive and the Executive Team who also attend Board and Committee meetings as required. The Executive Team reports to the Board on the performance of their respective directorates and on financial and operational trends measured against the annually approved budget. Chief Executive - Mkhael B15hop Istaned 8 April 2024) Chief Operaiing Officer - Lee Heard (started 3 June 2024) Director of Finance & Resources - Ceri Walters Head of Communications & Marketing - Llsa Davies Head of Fundraising - Clare Prysbet Bankers Natwest Bank plc 59 The Parade, Leamington Spa. CV32 4ZX Sollcltors Veale Wasbrovgh Vizards LLP 3 Brindley Place. Birmingham 81 2JB Audi¢or Sayer Vincent LLP Chartered Accountants and Sratutory Auditor 110 Golden Lane, London. ECIY OTG Rldlng for the 015abled Associatlon Incorporating Carrlage Driving Trustees, annual report For the year ended 31 Malch 2024 l . Structure, governance and management The organisation is a charitable company limited by guarantee. registered as a charity in October 1969 and incorporated in January 2004. With ihe approval of the Charity Cornrnission the registered charity number was transferred to the new company and the charity's name remained unchanged. The company is governed by its Memorandum & Articles of Association. which set out the charitable purposes for public benefit. last updated in November 2020. The RDA operates as a federation of member groups. Each RDA member group is a separate re91srered charkty that is a member of the company. operates in accordance with a standard group constitution and entered into a Membership Agreement with the company. RDA operates through 17 regions. Each region is divided into counties. Support. advice and training is delivered through the regional and county structure and directly by national office. Trustee appointments The Board of Trustees comprises both ap￿inted and elected irustees. Elected irustees serve a three-year term after which they are eligible for re-election for two furrher three-year rerm5. Appointed trustees seNe a three-year term after which they are eligible for re-appointment annually. It is RDA'S policy to recruit new trustees openly for all posts (including those voied on by members). We do this on a skills basis as a result of our annual skills audit. using appropriate advertisements to advertise the role5. New trustees are provided with a briefing. an induction, and other information to enable them to understand and carry out their role effectively. The Board of Trustees keeps under review the balance of skills. experience and diversity on the Board. This supports succession planning and helps to ensure the Board can perform effectively. Govemance arrangements The Trustees started a review of the Charity's governance arrangements to ensure they are fit for purpose, capable of supporting the Strategic Plan, and complying with the Charity Governance Code. This led to changes to the remit of its sub-committees. The Board's committees are as follows-. Flnance, Audit & Risk Committee Remuneration & Nominations Committee Investment Committee Fundraising Committee 22 Ridlng for the Dlsabled Association Incorporatlng Carrlage Drlvlng Tru5tee5' annual report For the year ended 31 March 2024 The Regional Chairs. Committee acts as a forum for our ￿￿$t senior volunteers to share Information, best practice. provide member group feedback, and support the implementation in Ihe regions. Trustee expenses All trustees give their time voluntarily and receNe no benefits from the charity. Any expenses reclaimed from the charity are set out in note l O to the accounts. ThSrd Party Indemnity Provision for Trnstees Qualifying third party indemnity provision is in place for the benefit of all trustees of the charitable company. Arrangements for setting remuneratlon The pay and remuneraiion of 311 staff. including key management personnel, is recommended by the Board's Remuneraiion & Nominations Committee and sei by the Board of Trustees. Reference Is made to market rates of pay within comparable chariiie5 when these arrangement5 are made. Related parties and relationships wlth other organlsatlons RDA 15 a member of the BEFand co-operates with orher member bodies io achieve the objectives of both RDA and rhe BEF. RDA Is a full member of the Horses in Education and Therapy International IHEfii organisation. RDA also works closely with the Activity Alliance, Scottish Disability Spon. Disability Spon Wales and Sport Nl and uses these connections to engage more closely with other organisations working In disability sporr and acriviry. The charitable company owns the whole of the issued ordinary share capital of both RDA ffiading) Limiied and Lowlands Equestrian Centre Limiied, both companie5 are registered in England and Wales. Both companies are used for non-primary purpose trading activities. A Summary of the results of RDA (Trading) Limited and Lowlands Equestrian Centre Limited 15 shown in Noie 16 to the accounts. Statement of responsibilities of the Trustees The Trustees (who are also directors of Riding for the Disabled Association incorporating Carriage Driving for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Cenerally 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 slate of affairs of the charitable company and group and of the incoming resources and application of resource5. including the income and expenditure. of the charitable company or 9roup for rhai period. 23 Rldlng for the Dlsabled A55oclatlon Incoiporatlng Carrlage Drlvlng Trustees, annual report For the year ended 31 March 2024 In preparing the financial statements, the irusiees are reqUI￿d to.. • select 5Ultable accounting policies and then apply them consisrenrly- • observe the methods and principles in the Charities SORP., • make judgements and estimates that are reasonable and prudenr- state whether applicable UK Accounting Standards and statements of recommended practice 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable ihem to ensure that the financial staiements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 (as amendedl. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the preveniion and detection of fraud and other irregularities. In so far as the trusiees are aware= there is no relevant audit information of which the charitable company'5 auditor is unaware and the trusiees have taken all steps that they ou9ht to have taken to make thernselves aware of any relevant audit information and to establish that the auditor is aware of thai information. The trustees are responsible for the rnaintenance and integrity of the corporate and financial nformation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Mernbers of the charity guarantee to contribute an amount not exceeding £ I to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2024 was 382. The trustees have no beneficial interest in the charity. Auditor Sayer Vincent LLP has acted as the charitable companrfs auditor durin9 the year and has expressed its willingness io continue in thai capacity. The trustees, annual report ha5 been prepared in accordance with the special provisions applicable to companies subject to the small companies. regime. 24 Rldlng for the D15abled Assoclatlon Incorporatlng Carrlage Drmng Tvustees. annual report For the year ended 31 March 2024 The trustees. annual report has been approved by rhe trustee5 on 16 September 2024 and signed on their behalf by Helena Vt9a-Lozano RDA UK Chair of the Board SinK>n Bragg Honorary Treasurer 25 Independent audltor'5 report To the members of Rldlng for the Dlsabled Associatlon Incorporatlng Carrlage Drlving Opinlon We have audited the financial srarements of RKling for the Disabled Association incorporating Carriage Driving (the 'parent charirable company,) and its subsidiaries (the 'group'l for the year ended 31 March 2024 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheet5, the consolidated statement of cash flows and the notes to the financial statement5. including significant accountin9 policies. The financial reporting framework thai has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The FinancthlRewrting Srandardapplicable in the UK and Republic of Irelandlunited Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements.. Give a true and fair view of the state of the group's and of the parent charitable company's affair5 a5 at 31 March 2024 and of the group's 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 Have been prepared in accordance with the requirements of the Companies Act 2006. the Charities and Trustee Investment (Scotlandl Act 2005 and regulations 6 and 8 of the Charities Accounts Ikotlandl Regulation 2006 las amended) Basls for opinlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibililies under ihose Standards are furrher described in the auditor's responsibilities for the audit of the financial statements SeCt￿n of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audii 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 requirement5. We believe that the audit evidence we have obtained is sufficient and appropriare to provide a basis for our opinion. Conclusions relating to going c¢Mcern In audiiing the financial statements. we have concluded thai the trustee5' Use of the going concern basis of accountirtg in the preparation of the financial Statements is appropriare. 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 Riding for the Disabled Association incorporating Carriage Driving's ability ro continue a5 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 rrusiees with respect to going concern are described in the relevant sections of this report. 26 Independent audltor's report To the members of Rldlng for the Dlsabled Association Incorporatlng Carrlage Drl¥ing Other Information The other information comprises the informarion included in the trustees. 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 staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility IS to read ihe other inforrnation and. in doing so, consider whether the other information is rnaterially inconsistent with the financial statements or our knowledge obtained in the course of ihe audit or othetwise appear5 to be materially misstated. If we idenrify such material inconsistencies or apparent material rnis5iatemen15. we are required to determine whether this gives rise to a maierial misstatement in ihe financial statements ihern5elves. 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 thai fact. We have nothing to repon 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 the audit". The information given in the trustees. annual reporr for the financial year for which the financial siarements are prepared is consistent with the financial statements The trustees. annual report has been prepared in accordance with applicable legal requirements Matters on whlch we are requlred to report by exception In ihe lighr of the knowledge and understanding of the group and the parent charitable company and its environment obrained in the course of the audit, we have not identified material misstatements in the trustees, annual report. We have nothing to reporr in respecr of rhe following matters in relation to which rhe Companies Act 2006 and Charities Accounts (Scotlandl Regulations 2006 la5 amended) requires us to report to you if, in our opinion.. Adequate accouniing records have not been kept by the parent charitable company, or return5 adequate for our audit have not been received from branches not visited by us- or The parent charitable company financial staternents are not in agreement with the accounting record5 and return5'. 0 Certain disclosures of trustees, remuneration specified by law are not made- or We have noi received all the information and explanations we require for our audit., or The directors were not entitled to prepare the financial siatement5 in accordance wilh (he small companies, regime and take advantage of the small companies, exemptions in preparing the trusrees, annual repon and from the requirement to prepare a strateglc report. 27 Independent auditor's report To the members of Rldlng for ihe Dlsabled Assoclatlon Incorporatlng ca￿lage Drmng Responslblllties of trustees As explained more fully in the statement of trustees. responsibilities set out in the trustees. annual report. the trustees Iwho are also the direciors of Ihe parent charitable company for rhe purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal conirol as the trustees determine is necessary to enable the preparation of financial statements thai are flee from material misstatement, whether due to fraud or error. In preparing the financial statements. Ihe irusiees are responsible for assessing Ihe 9Toup's and the parent charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern basis of accouniing unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's responsibilltles for the audit of the financial statements We have been appointed as auditor under section 44{1 l{c} of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under ihose Acrs. Our objectives are to obtain reasonable assurance about whether the financial starements as a whole are free from rnaierial misstatement. whether due to fraud or error. and to issue an auditor's report thai includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when it exists. Missiatements can arise from fraud or error and are considered maierial 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 statement5. Irregularities, including fraud. are instances of non-compliance wirh laws and regulation5. 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 procedure5 are capable of derectin9 irregularities. including fraud are ser out below. Capability of the audit In detecting irregularlties In ideniifying and assessing risks of material misstatemeni in respect of irregulariiies, including fraud and non-cornpliance with laws and regulations. our procedures included the following." We enquired of mana9ement. and the finance commiitee. which included obtaining and reviewing supporting documentation. concerning the charity's and group's policies and procedures relating to.. Identifying. evaluating, and complying with laws and regulations and whether they were aware of any insiances of rton-compliance., • Detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected. or alleged fraud". • The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. 28 Independent auditorfs report To the members of Ridlng for the Disabled Assoclation incorporatlng Carriage Drfvlng We inspected the minutès of meetings of those charged with governance. We obtained an understanding of the legal and regulatory framework that the charity and group operates in. focusing on those law5 and regulations that had a material effect on the financial statements or that had a fundamental effeci on Ihe operations of rhe charity and group from our professional and sector experience. We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audtt. We reviewed any rekiofis made to regulators. We reviewed the financial statement disclosure5 and tested these t0 5UPPOrting documentation to asse55 compliance with applicable laws and regulations. We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. In addressing the risk of fraud Ihrough management override of controls. we tested the appropriateness of journal eniries and orher adjustments, assessed whether the judgements made in making accouniing estimates a￿ indicative of a potential bias and tested significant transactions that are unusual or those outside the norrnal course of business. Because of the inherent lirnitaiions of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in rhe financial siatements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transaction5 reflected in the financial statement5, as we will be le55 likely to becoffle aware of instances of non-compliance. The risk is also greater regarding irre9ularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website ar." N*Nvw.frc.or -uk auditorsres onsibilitrek This descrtptton forms part of our auditor's report. Use of our report This report Is made solely to the charitable companWs members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 4411)Ic) of the Charities and Trustee Investment (Scotlandl Act 2005. Our audit work has been undertaken so that we might 5rate to the charitable company's member5 ihose 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 rnembers as a body. for our audii work, for this repon. or for the opinions we have formed. Fleur Holden (Senior statutory auditor) Date 30 Septernber 2024 for and on behalf of Sayer Vincent LLP. Statutory Auditor 110 Golden Lane, LONDON, ECIY OTC Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006 29 Rlding for th¢ Dl$4bl¢d Assoclatlon Incorpotating Carrfiag¢ Dvmng Consolldat¢d si*emont of flnanclal finrorporatlng an Incoffle and expendttute *¢couni) For the eav ended 31 14arch 2024 2024 2023 Total ilnrostiKted Restricted Total UDre5tricted R*%ÈriCted 14ote Income From.. Donarions and le0ac￿% 1.415,921 $46.946 1,962.167 1.498.266 274,937 1.773.203 Support for Groups Supp)rt for Volunteers Support for Participan15 Naiional Yiaining Cenire Othei trading &ttivitiÈS Inve5ttnents Other income 71.940 71.940 95.740 291 54,409 17,104 148.J21 68.54$ 175.120 95,740 291 54,409 17,104 76.012 18.363 125.338 88.950 50.930 76.012 18,363 125,338 99.193 51,127 1 0.243 197 12.768 Total Incom¢ 1.847.585 S57.386 2.404.971 2.077.596 287.70S 2.365,301 Expendituro on.. 470.043 3,055 473.098 470,316 470,316 Chariiable aciivitie5 Support for Groups Supporr for Voluntters Support for Participanis Naiivnal Training Ceniie 591.898 486.526 252.526 55B.065 108.966 174.345 65.117 11.569 7(Kl,864 660.871 31 ?.643 569,634 519.489 549.369 231.686 439.738 63?,062 692.396 245,506 459,638 143.027 13,820 19,900 Total expendltu 2.J59.058 363.052 2.722.110 2.210.598 289.320 2.499.91 Net (expendltuv*) I Income befo￿ net 9•Inslllosses) on Ihvestmenis 1511.473) 194.J34 (317.1 J91 I133.￿2) Ner gain5111ossesl on investmenis 84.484 9.771 94.255 (447.3661 (67,924) (515,2901 Met lexpeDdiiur¢) I finwme for the year (426.989) 204.105 Q22.8841 1580.3661 (69,539) 1649.9071 Transfers be￿een lund5 26 16.414) 6.414 44,442 (44,442) 14Et mo¥ement In fund5 1433.403Tr ZIO.519 922.884) 1535,9261 1649,9071 econciliatSon of fund5'. Total funds broughi foA¥ard Total fvnd5 rarried fonw•rd 6.3?1.823 875,809 7,197.632 6.8S7.749 989.790 7.847.539 5.8B8.420 1.086.328 6,974.748 6.32 1.823 875.809 7.197.632 All ol Iht rn5uIt5 dtrr•¢d froffl coniintsln9 ¥xIN4t￿5. ThErewer* IiOOther recow5ed gwn5 or losses other ih•n ih05e sta￿d abo¥*. MLwemEnis in fu￿d5 ar* d1￿￿5¢4 In Not¢ 27 to the fina￿1￿ Stat•￿￿1$_ 30 Riding for the Disabled Association IncoTporaiing Carrlage Drlvlng Balance sheets Company r￿. 501039S M h2024 The group 2024 The charity 2024 2023 2023 Note Fixed assets- Tangible asset5 Investments 3.232.455 3.237.710 3.289.947 3.152.911 3.232.455 3.237.713 3.289,947 3.152.914 6.470.16S 6,442.858 6.470.168 6.442,861 Current assets". Stock Debtors Cash at bank and in hand 7.349 552.203 567.538 8.299 483,061 947.43 1 6.807 577.004 497.731 7.759 491.988 887.666 1.127.090 .438.791 1.081.542 1,387.413 LlabSlllles: Creditors.. amount5 falling due within one year 20 535.007 526.517 527,697 520,341 Net current assets 592.083 912.274 5S3.845 867.072 Total assets less curr*nt liabllitles 7.062.248 7.355.132 7,024,013 7.309.933 Creditois.. amounts falling due after one year 22 87.500 57.500 87.500 157.500 Total net a55ets 6.974,748 7.197.632 6.936.513 7,152,433 Funds: Restricted income funds Unre51ricted income funds". Designated funds General fund5 Non-charitable trading funds Toial unrestricted funds 25 1.086,328 875,809 1.086.328 875.809 4.450.118 1.400.067 38.235 4.485.520 1.791.104 45.199 4.450.118 1,400.067 4,485,520 1,797,104 5.888.420 6.321.823 5.850.185 6,276,624 Total funds 6.974,748 7,197,632 6.936.513 7.152.433 Approved by the irustees 16 Sepiember 2024 and Signed on their behall by Helena Ve9a-Lozano Chair Simon Bragg Honorary Treasurer 31 Rldlng for thE IA$4bled Asso¢Oatlon Incorporatln9 Car￿age Trfvlng Coh5011da¢td Siattment of tash flows For the ar ended 31 March 2024 ￿￿on(I11￿110n of net income I lexpe#dlturnl io net cash frorn operatyrby artl¥ltlÈs 14oie 2024 2023 Cash flow5 from operaring ￿tlY{tIeS Ner expenditure far the rÉpDrting penod las per the siatement of finaniial aciivit¢esl Depreciaiion charges IGains)Ilosses on investrnents Dividends aTrd Inierest from investrnents Profit on the disposal of lixed as5et5 ()ecrea5e In siock5 Ilncreaselldecrea5e in debtors IrKrea5e in crediiors 22.8841 101,216 194.2551 (99.1931 18.6101 950 169.1421 8.490 1649.9071 97.351 515.290 Jl.044 51.403 Net cash used in operating aclivities 1383.428) 1207,270) Cash flow5 from Invtstlny attmtlts.. Oividtnds al￿ Interesr from invesrmenis Proceeds from the Sale of fixed assets Purchase of fixed assets Proceeds from sale of invesirnents Purchase of Invesimenrs 99.193 T4.210 149,3241 647,282 1631.749) 101,313 699.709 178,1021 671.799 1873.8751 Nei (ash prn￿ded by In¥esting artivities 79.612 520,844 Cash flows from financing aCtivillÈs". Cash outflow". repayment ol loans 170.0001 1689.3861 Nei cash used In flnanclng arti¥itye5 {70.0001 1689.386) Change in ¢3sh ¢4ul¥althts tht year 1373.8161 1375,812) Cash and cash equivalen15 ar rhe beginning of ihe year Chan9e in tash held by investment broker pendir reinvestment ai the end ef the year 947.431 1.193.177 16.07 130,066 Cash and rash e4u1v￿Q￿ts at the end of year 567,538 947,431 An￿V>1$ of cash and cash equlv*l*nts and of net de Al 31 March 2024 At l April 2023 Cash flows Cash ai bank and in hand 947.431 1379.893) 567.538 Total cash ar￿ (ash equr¥alen 947.431 1379.893) 567,538 Loans falling due ￿thin one year Loan5 falling due after more than one year 170.000) 1157.500) (70.0001 187.5001 70,000 Tol 719.9Jl (309,8931 410.038 32 RldlTrg for the D15abled Asyxlavon Incorp￿atIng Cathage Notes to the nttanclal st•t¢ments For the ar ended 31 March 2024 l Accounting PDllcles a) Stat¥t0ry information Riding for the Disabled A550riation Incorporatsng Carriage Drmng is a charitable rompany limited by guarantee antl is incorporated in the United Kingdom. The reg15rered offite address is CIO Veale Wa5brough Vi2ards LLP. Narrow Quay House. Narrow (￿ay. Bristol. 8S4 4QA. The principal place of busine55 is L¢)vAands Equestrian Centro, Old WaM£k Road. Shrewloy. wa￿1(k. CV35 7AX. bl Ba$15 of preparation The finan Atgitsns 9*OuPS Nallon¥ C￿MP￿￿5￿1p% co￿h1￿ quilifKADon5 In￿St￿l￿t m•ni9¢fflen¢ Leyil and prof155￿￿1 66.717 375 gB.375 J.w 21.040 go.i59 24.41D 67.413 Si.609 5B.609 46.664 t4.190 57.JOI 48.>a6 r*chaT9Èd 4.575 7Q.042 DepT￿la￿l0￿ ITrerovEiiW¢VAT All tus￿ (SeE bEhr*) 4fj.J24 69.426 69,426 16. 361.5 3￿.05> 247.892 344.213 2.499,918 SupportC05ts &Iocarw)n I49.0É7 267.612 55.522 179.435 4B.459 45.916 Total¢xWndltu￿ Z024 4n.09B fjfjQ.171 JiP.64J S69.6J4 Tutal ExpEnditwE 202] 6J2,062 692.396 745.506 2.49>,91 -"AII OThorcosis' offlct t¥pwdt5. tht C4lJU of SL*S4I4tyuftdt￿l￿rys. rr. y•fr5sb)Nl 17 Rl0Sng forthe D154bled A5yJc5*￿n lTrrorpN•tlng Qrrl•9e NOTr$ 14 the nnartial startrrtms 7b Analys15 Olexper￿ll￿rt (we¥bous >*¥) C05toF for ￿r￿t for rwgn9 fund5 unteers NatNThl G￿rnIn(e Tr￿￿fi9 Centre