Charity Registration No. 262765
Company Registration No. 01006107 (England and Wales)
BRITISH CONNEMARA PONY SOCIETY LIMITED REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
BRITISH CONNEMARA PONY SOCIETY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Miss M Evans | |
|---|---|---|
| Mrs K Wlters MrsAWrd |
||
| MrsDNickson | ||
| Ms C Caddy | ||
| Ms S Gillingham | ||
| The Hon Mrs A Harries | ||
| MsJ Woods | ||
| Miss L Stokeld | ||
| Miss K Wainwright | ||
| Ms K Seedhouse | ||
| Mr JS Strang | (Appointed 21 November | |
| 2021) | ||
| Ms B KGibb | (Appointed 21 November | |
| 2021) | ||
| MsSCRook | (Appointed 21 November | |
| 2021) | ||
| Secretar | MrsGTillin | |
| Charit number | 262765 | |
| Company number | 01006107 | |
| Registered ofice | 24 Mount Pleasant Road | |
| Alton | ||
| Hampshire | ||
| United Kingdom | ||
| GU341NN | ||
| Independent examiner | Aets | |
| Richmond House | ||
| 48 Bromyard Road, St Johns | ||
| Wrcester | ||
| United Kingdom | ||
| W2 58T | ||
| Bankers | NatWest Bank PLC | |
| The Parade | ||
| Minehead | ||
| Somerset | ||
| TA24 52D |
BRITISH CONNEMARA PONY SOCIETY LIMITED
CONTENTS
| Page | |
|---|---|
| Repor of the Trustees | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-10 |
BRITISH CONNEMARA PONY SOCIETY LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees, who are also the directors for the purposes of the Companies Act 2006, present their report and the financial statements of the charity for the year ended 31st December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, 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)" (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The principal objectives of the society, which is a registered charity, are to preserve and improve the standard of the connemara breed of ponies within the jurisdiction of the society and to prevent cruelty to horses and ponies.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.
Achievements and performance
During the year under review, the society has sought to achieve its principal objectives by providing for owners and breeders of connemara ponies a range of services including registrations, inspections and testing. It also hosts an annual breed show and publishes in the annual chronicle reports, features and articles that give comprehensive coverage of the society's activities that have promoted the connemara breed.
In respect of its activities, the society has paid regard to guidance issued by the Charity Commission in respect of its activities, the results of which are set out on page 4.
Financial review
At the Balance Sheet date, the net assets of the society appearing on page 5 amounted to £218,687. In their financial management of the society's activities, the trustees seek to obtain an adequate return from the provision of services and from membership subscriptions to support the administrative costs of the society and to take the opportunities that arise for the improvement of services to members.
It is the policy of the society that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue its current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the society is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The society, by virtue of its constitution as a company limited by guarantee, is governed by its articles of association, as defined by the Companies Act 2006.
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:
Mrs R Bond
(Resigned 21 November 2021)
Miss M Evans
Mrs K Walters Mrs A Ward Mrs D Nickson MsC Caddy Ms S Gillingham The Hon Mrs A Harries MsJ Woods
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BRITISH CONNEMARA PONY SOCIETY LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Miss L Stokeld Miss K Wainwright Ms K Seedhouse Mr JS Strang (Appointed 21 November 2021) Ms BK Gibb (Appointed 21 November 2021) Ms SC Rook (Appointed 21 November 2021)
Responsibility for the running of the society's activities is vested in the Council of Management which comprises the trustees for the charitable purposes of the society who also serve as directors for the purpose of company law.
Council members are appointed by the members of the society to serve for an initial term of three years and, subject to re-election, may serve a second consecutive term also of three years. A council member must be a member of the society and the maximum number of serving council members is twelve.
The report was approved by the Board of Trustees and signed on its behalf by
Mrs G Tillin Secretary Dated: 25 April 2022
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BRITISH CONNEMARA PONY SOCIETY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRITISH CONNEMARA PONY SOCIETY LIMITED
We report to the trustees on our examination of the financial statements of British Connemara Pony Society Limited (the Company) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied ourselves that the financial statements of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the Company's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).)
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Azets
Richmond House 48 Bromyard Road, St Johns Worcester WR2 5BT United Kingdom
Dated: 25 April 2022
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BRITISH CONNEMARA PONY SOCIETY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Un restricted Restricted funds funds 2021 2021 Notes £ £ Income and endowment from: Society income 3 75,182 Investments 4 3,686 Other income 5 28,019 Ttal income 106,887 Exrenditure Qn: Charitable activities 61,728 Net income fr the year/ Net movement in funds 45,159 Fund balances at 1 January 2021 160,818 10,856 Fund balances at 31 December 2021 205,977 10,856 |
TotalUnrestricted funds 2021 2020 £ £ 75,182 45,913 3,686 3,933 28,019 2,626 106,887 52,472 61,728 48,203 45,159 4,269 171,674 156,549 216,833 160,818 Restricted Total funds 2020 2020 £ £ 45,913 3,933 2,626 52,472 48,203 4,269 10,856 167,405 10,856 171,674 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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BRITISH CONNEMARA PONY SOCIETY LIMITED
BALANCE SHEET
R 2021 AS AT 31 DECEMB
| Fixed asset Tangible assets Investments Current asset Debtors and prepayments Cash at bank and in hand Creditor: amounts falling due within one year Net current assets Total asset less currnt liabilities Income funds Restricted funds Unrestricted funds Notes 8 9 10 11 13 |
2021 £ 1,461 87,469 88,930 (11,788) |
£ 9,691 130,000 139,691 77,142 216,833 10,856 205,977 216,833 2020 £ 2,538 30,153 32,691 (4,645) |
£ 13,628 130,000 143,628 28,046 171,674 10,856 160,818 |
|---|---|---|---|
| 171,674 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 25 April 2022
Trustee
Company Registration No. 01006107
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BRITISH CONNEMARA PONY SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
British Connemara Pony Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Mount Pleasant Road, Alton, Hampshire, GU34 1 NN, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with 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)" (as amended for accounting periods commencing from 1 January 2016). The is a Public Benefit Entity as defined by FRS 102.
The society has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in these financial statements are rounded to the nearest£.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the society has a reasonable expectation that the company 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
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
All income is recognised in the Statement of Financial activities once the society has entitlement to the funds, that it is probable that the income will be received and the amount can be measured reliably.
1.5 Tangible fixed assets
Fixed assets are written off over their useful life as follows:-
Trophies Straight line basis over 5 years Computers Straight line basis over 3 years
1.6 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.
1.7 Taxation
The charity is exempt from corporation tax on its charitable activities.
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BRITISH CONNEMARA PONY SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
2 Critical accounting estimates and judgements
In the application of the societ[y] 's accounting policies, the trustees are re[q] uired to make[j] udgements, estimates and assum[p] tions 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. Actual results ma[y ] differ from these estimates.
The estimates and underl[y] ing 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.
3 Society Income
| Unrestrictd | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Membership subscriptions | 27,541 | 17,261 |
| Members serices and events | 47,641 | 28,652 |
| 75,182 | 45,913 | |
| -- |
4 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Investment income | 3,685 | 3,924 |
| Interest receivable | 1 | 9 |
| 3,686 | 3,933 | |
| -- |
5 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | ||
| Bank compensationpayment | 150 | |
| Job retention schemegrants | 2,626 | |
| Legacies | 27,869 | |
| 28,019 | 2,626 | |
| -- | -- |
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BRITISH CONNEMARA PONY SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the during the year.
7 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |||
|---|---|---|---|---|
| Number | Number | |||
| Employment costs | 2021 | 2020 | ||
| £ | £ | |||
| Wges and salaries | 30,100 | 28,583 | ||
| 8 | Tangible fixed assets | |||
| Trophies | Computer | Total | ||
| £ | £ | £ | ||
| Cost or valuation | ||||
| At 1 January 2021 | 22,000 | 642 | 22,642 | |
| Additions | 1,015 | 1,015 | ||
| At 31 December 2021 | 22,000 | 1,657 | 23,657 | |
| Depreciation and impairment | ||||
| At 1 January 2021 | 8,800 | 214 | 9,014 | |
| Depreciation charged in the year | 4,400 | 552 | 4,952 | |
| At 31 December 2021 | 13,200 | 766 | 13,966 | |
| Net book value | ||||
| At 31 December 2021 | 8,800 | 891 | 9,691 | |
| -- | ||||
| At 31 December 2020 | 13,200 | 428 | 13,628 | |
| -- |
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BRITISH CONNEMARA PONY SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 9 | Fixed asset investment | |||
|---|---|---|---|---|
| Listed | ||||
| investments | ||||
| Cost or valuation | ||||
| At 1 Januar2021 & 31 December 2021 | 130,000 | |||
| Net book value | ||||
| At 31 December 2021 | 130,000 | |||
| At 31 December 2020 | 130,000 | |||
| 10 | Debtor | |||
| 2021 | 2020 | |||
| Amount falling due within one year: | £ | £ | ||
| Other debtors | 253 | |||
| Prepayments and accrued income | 1,208 | 2,538 | ||
| 1,461 | 2,538 | |||
| 11 | Creditor: amounts falling due within one year | |||
| 2021 | 2020 | |||
| Notes | £ | £ | ||
| Other taxation and social security | 2,227 | |||
| Deferred income | 12 | 630 | 1,388 | |
| Other creditors | 6,458 | |||
| Accruals | 4,700 | 1,030 | ||
| 11,788 | 4,645 | |||
| 12 | Defrred income | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Arisingfrom Membershipfees and show | ||||
| sponsorship in advance | 630 | 1,388 |
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BRITISH CONNEMARA PONY SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
13 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | Movement | |||||
|---|---|---|---|---|---|---|
| in funds | in funds | |||||
| 1 | Balance at Januar 2020 |
Incoming resources1 |
Balance at January 2021 |
Incoming resources |
Balance at 31 December |
|
| 2021 | ||||||
| £ | £ |
£ | £ |
£ | ||
| Restricted Fund | 10,856 | 10,856 | 10,856 | |||
| -- | -- | -- |
14 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
15 Ultimate Controlling Party
The society, being a company limited by guarantee without shares, does not have an ultimate controlling party.
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BRITISH CONNEMARA PONY SOCIETY LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31 DECEMBER 2021
| FOR THE YR ENDED 31 DECEMBER 2021 | ||
|---|---|---|
| INCOME AND ENDOWMENTS Society Income Membership subscriptions Members serices and events Investment Income Bank interest received Investment income Other Income Job retention scheme grants Bank compensation Legacies Total incoming resources EXPENDITURE Secretary salary Insurance Telephone Printing and stationer Postage Computer supplies Website Storage facilities Meeting expenses Bank charges Accountancy charges Legal and professional fees Affiliation payments Miscellaneous expenses Depreciation Total resources expended Net income before gains and losses |
31.12.21 £ 27,541 47,641 75,182 1 3,685 3,686 150 27,869 28,019 106,887 30,100 2,872 671 4,483 3,030 2,043 7,494 1,209 144 786 1,717 305 1,922 4,952 61,728 45,159 |
31.12.20 £ 17,261 28,652 45,913 9 3,924 3,933 |
| 2,626 | ||
| 2,626 52,472 28,583 1,932 656 1,835 2,677 1,307 555 1,038 518 197 1,400 2,395 443 53 4,614 48,203 4,269 |
This page does not form part of the statutory financial statements