OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Registered Charity No. 701178

NUNEATON & NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

_______________ _______________
Page
Statutory Information 1
Trustees’ Report 2-3
Independent Examiner’s Report 4
Balance Sheet 5
Statement of Financial Activities 6
Notes to the Financial Statements 7-11

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

STATUTORY INFORMATION

Trustees: Mrs J Miller
Mr N Singh
Mrs K Oliphant
Ms J Dagnan
Mr I Ashby
Charity Number: 701178
Correspondence Address: Nuneaton & North Warwickshire
Equestrian Centre
Valley Road
Galley Common
Nuneaton
CV10 9NJ
Bankers: Royal Bank of Scotland
Nuneaton Branch
11/17 Queens Road
Nuneaton
CV11 5JL
Coventry Building Society
Economic House
PO Box 9
High Street
Coventry
CV1 5QN
Independent Examiners: Leonard Wilson & Co
Chartered Accountants
Colinton House
Leicester Road
Bedworth
Warwickshire
CV12 8AB

1

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report and the financial statements for the year ended 31 March 2021.

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 governing document and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements 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 Charity’s main objective and principal activity continues to be that of providing horse riding activities for disabled persons. The Charity engages trained instructors and selects suitable ponies to ensure a good quality level of service is provided.

When planning the Charity’s activities for the year the Trustees have considered the Commission’s guidance on public benefit.

Achievements and Performance

The Trustees consider that the performance of the Charity this year has been satisfactory. As a result of COVID-19 this has been a challenging year for the trustees and the staff. The charity had to close its services to the public for most of the period up to 31 March 2021 and the charity’s main objectives became maintaining the welfare of the charity’s horses and the staff.

The trustees and staff had to adapt its operational changes to minimise the impacts to the charity. Financial support provided from local donations, grants from the government and other organisations have supported and secured both the charity’s financial and non-financial activities enabling the charity to continue as a going concern.

Funds have been kindly donated from various organisations and people within the local community during the year to support the charity.

Future Developments

The trustees and staff are pleased to announce that the centre’s activities could gradually recommence whilst adhering to COVID-19 guidance.

Restricted and unrestricted funds brought forward from the 31 March 2021 financial year together with other funds kindly donated from various organisations and people within the local community thereafter have provided the necessary support to ensure the charity can continue in operation.

2

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

Reserves policy

The Trustees consider the financial position of the Charity to be satisfactory. The reserves stand at £226,742 in total on page 5.

Structure, governance & management

Governing Document

The Charity’s governing document is a Constitution adopted 17 December 1988.

Trustees

The Trustees named on page one have served during the year.

Appointment of Trustees

Appointment of Trustees is governed by the constitution of the Charity. The Board has the power to appoint additional trustees if it considers fit to do so. None of the trustees has any beneficial interest in the Charity.

Statement of Trustees’ Responsibilities

The Trustees are required under Charity law to prepare financial statements for each financial year which show a true and fair view of the Charity’s state of affairs and its financial activities for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

Approval

This report was approved by the Trustees and signed on their behalf by:

Mrs J Miller......................................... Date: 1[st] March 2022 Trustee

3

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

I report to the trustees on my examination of the financial statements of the above charity for the year ended 31 March 2021, which are set out on pages 5 to 11.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I 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.

Stephen Jones FCCA Chartered Certified Accountant

Date: 3[rd] March 2022

Leonard Wilson & Co Colinton House Leicester Road

Bedworth CV12 8AB

4

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION BALANCE SHEET AS AT 31 MARCH 2021

__
31.3.20
£
161,761
_
1,891
57,064

58,955

220,716

18,980
-

18,980

201,736

-

£201,736

114,395
_
82,886
4,455

87,341

£201,736
___		 ___________
notes £
£
FIXED ASSETS
Tangible Assets
8
132,935
CURRENT ASSETS
Debtors & Prepayments
9
3,551
Cash at Bank & in Hand
151,434
__
154,985
_
TOTAL ASSETS
287,920
CURRENT LIABILITIES
10
Creditors & Accruals
11,178
Bank Loan
7,986

19,164

TOTAL ASSETS LESS CURRENT LIABILITIES
268,756
LONG TERM LIABILITIES
Bank Loan
11
42,014

NET ASSETS
226,742

FUNDS ANALYSIS:
UNRESTRICTED INCOME FUNDS
133,803
RESTRICTED CAPITAL FUND
Capital Fund for Indoor Arena
69,313
Other Restricted Funds
23,626

92,939

226,742
___

The financial statements on pages 5 to 11 were approved by the Trustees on 1[st] March 2022 and signed on their behalf by:

Mrs J Miller.........................................

Trustee

5

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

__
31.3.20
£
144,052
39,606
24,252
3,882
141
_
211,933
_
6,284
269,862
_
276,146
_
(64,213)
-
__
(64,213)
265,949
_
£201,736
_____		 ________
INCOMING RESOURCES
Income from:
Charitable Activities (Note 2)
Donations (Note 3)
Grants Receivable (Note 4)
Sundry Income
Interest Received
RESOURCES EXPENDED
Expenditure on:
Raising Funds
Charitable Activities (Note 5)
Net Income/(Expenditure) for the Year		 ___
Unrestricted
£
37,604
53,127
81,407
626
58
_
172,822
_
5,687
147,727
_
153,414
_
19,408
-
_
19,408
114,395
_
133,803
_		 ___
Restricted
£
-
-
92,408
-
-
_
92,408
_
-
86,810
_
86,810
_
5,598
-
_
5,598
87,341
_
92,939
_____		 ___
Total
£
37,604
53,127
173,815
626
58
__
265,230
_
5,687
234,537
_
240,224
_
25,006
-
_
25,006
201,736
_
226,742
_____

Transfers Between Funds
Net Movements in Funds
Total Fund Balances Brought Forward


Total Fund Balances Carried Forward

The notes on pages 7 to 11 form part of these financial statements.

6

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 ACCOUNTING POLICIES

(1.1) Accounting convention

These financial statements have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements 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 definedby FRS 102.

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 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

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charity’s objectives unless the funds have been designated for other purposes.

(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.

(1.5) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities comprises of those costs incurred by the charity in the delivery of its activities and services undertaken to further the purposes of the charity and their associated support costs.

(1.6) Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less their estimated residual value of each asset over its expected useful life, as follows:

Indoor Arena & Stables - Over the term of the lease Furniture, Equipment & Motor Vehicles - 25% Reducing balance basis

7

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

(1.7) Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors are classified as debt, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

2 Income

3
4		 2021
2020
£
£
Fees received from charitable activities
£37,604 £144,052
__
_
2021
2020
£
£
Donations
Fundraising & Collections
1,329
5,824
Donations
51,798
33,782


£53,127
£39,606


Grants Receivable
2021
2020
£
£
Government Grants
45,597
-
Other Grants received
128,218
24,252


£173,815
£24,252

___

8

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5 Expenditure

Charities Activities

UNRESTRICTED

UNRESTRICTED
2021 2020
£ £
Wages & Employer’s Pension Costs 85,197 139,474
Management Consultancy - 2,500
Horse Feed 3,067 9,514
Welfare & Maintenance of Ponies 4,808 13,796
Rent, Rates, Light & Heat 7,257 11,242
Telephone 1,225 1,627
Insurance 9,309 11,643
Travelling & Motor Expenses 413 3,615
Printing, Postage, Stationery & Advertising 1,892 4,210
Bank Charges & Interest 883 1,561
Repairs & Renewals 9,129 9,424
Sundry Expenses 4,722 6,652
Professional Fees 4,950 9,506
Depreciation & Loss on disposals 14,875 12,229
______ ______
147,727 236,993
RESTRICTED
Wages & Employer’s Pension Costs 60,805 -
Horse Feed 3,610 -
Welfare & Maintenance of Ponies 4,584 132
Motor Expenses 479 -
Repairs & maintenance 1,095 5,000
Printing, Postage & Stationery - 168
Loan Interest 1,042 -
Sundry Expenses - 652
Professional Fees 400 9,200
Depreciation 14,795 17,717
______ ______
86,810 32,869
______ ______
£234,537
______		 £269,862
______

9

NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR THE DISABLED ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6 AVERAGE NUMBER OF STAFF

The average monthly number of employees during the year was 16 (2020 - 15).

7 TRUSTEE REMUNERATION & EXPENSES

No remuneration, benefits or expenses were paid to the Trustees in the year.

8 TANGIBLE FIXED ASSETS

9 Indoor Arena
Horses
Furniture,
Total
& Stables
Equipment &
Motor Vehicles
£
£
£
£
Cost:
At 1 April 2020
221,497
21,100
48,594
291,191
Additions
-
-
1,344
1,344
Disposals
-
(2,800)
(2,000)
(4,800)
__
_


At 31 March 2021
221,497
18,300
47,938
287,735




Depreciation:
At 1 April 2020
100,193
-
29,237
129,430
Disposals
-
-
(875)
(875)
Charge for the Year
21,224
-
5,021
26,245




At 31 March 2021
121,417
-
33,383
154,800




Net Book Values:
At 31 March 2021
£100,080
£18,300
£14,555
£132,935




At 31 March 2020
£121,304
£21,100
£19,357
£161,761




DEBTORS
2021
2020
£
£
Debtors
3,180
1,364
Prepayments
371
527


£3,551
£1,891

___

10

____
10
11		 NUNEATON AND NORTH WARWICKSHIRE EQUESTRIAN CENTRE
RIDING FOR THE DISABLED ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2021
__________
CREDITORS: Amounts Falling Due within One Year:
2021
2020
£
£
Trade Creditors and accruals
11,178
18,980
Government bank loan
7,986
-


£19,164
£18,980


CREDITORS: Amounts Falling after One Year:
2021
2020
£
£
Government bank loan
£42,014
-

___

11