**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:
- (a) select suitable accounting policies and apply them consistently;
- (b) make judgements and estimates that are reasonable and prudent;
- (c) observe the methods and principles in the Charities SORP;
- (d) state whether applicable UK accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and
- (e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and 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:
- the accounting records were not kept in accordance with section 130 of the Act; or
- the financial statements do not accord with the accounting records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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