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2022-03-31-accounts

REGISTERED CHARITY NUMBER: 701178

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 14

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2022

TRUSTEES Jean Miller Iain Ashby Jill Dagnan Kathryn Oliphant Nirmal Singh Jo Sutherland (appointed 1.4.2021) PRINCIPAL ADDRESS Valley Road Galley Common Nuneaton Warwickshire CV11 5JL

REGISTERED CHARITY NUMBER 701178

INDEPENDENT EXAMINER Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT BANKERS Royal Bank of Scotland Nuneaton Branch 11/17 Queens Road Nuneaton CV11 5QN Coventry Building Society Economic House PO Box 9 High Street Coventry CV1 5QN

Page 1

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

REPORT OF THE TRUSTEES for the year ended 31 March 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

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.

ACHIEVEMENT AND PERFORMANCE

The Trustees consider that the performance of the Charity this year has ben 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.

FINANCIAL REVIEW

Reserves policy

The Trustees consider the financial position of the Charity to be satisfactory. The reserves stand at £160,016 in total on page 5.

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.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

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 responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

REPORT OF THE TRUSTEES for the year ended 31 March 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Approved by order of the board of trustees on 17 October 2023 and signed on its behalf by:

Jean Miller - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

Independent examiner's report to the trustees of Nuneaton & Warwickshire Equestrian Centre Riding for Disabled

I report to the charity trustees on my examination of the accounts of Nuneaton & Warwickshire Equestrian Centre Riding for Disabled (the Trust) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

Mark Ashfield BA FCA

Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

17 October 2023

Page 4

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
24,010
Charitable activities
Other grants received
11,620
Government Grants
4,313
Other trading activities
3
169,999
Other income
4
23,208
Total
233,150
EXPENDITURE ON
Raising funds
-
Charitable activities
5
Charitable activities
285,738
Total
285,738
NET INCOME/(EXPENDITURE)
(52,588)
RECONCILIATION OF FUNDS
Total funds brought forward
133,803
TOTAL FUNDS CARRIED FORWARD
81,215		 Restricted
fund
£
-
14,300
-
-
-
14,300
-
28,438
28,438
(14,138)
92,939
78,801		 2022
Total
funds
£
24,010
25,920
4,313
169,999
23,208
247,450
-
314,176
314,176
(66,726)
226,742
160,016		 2021
Total
funds
£
53,127
128,218
45,597
37,604
684
265,230
5,687
234,537
240,224
25,006
201,736
226,742

The notes form part of these financial statements

Page 5

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

BALANCE SHEET 31 March 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
10
56,722
CURRENT ASSETS
Debtors
11
2,130
Cash at bank and in hand
70,837
72,967
CREDITORS
Amounts falling due within one year
12
(14,054)
NET CURRENT ASSETS
58,913
TOTAL ASSETS LESS CURRENT
LIABILITIES
115,635
CREDITORS
Amounts falling due after more than one year
13
(32,420)
ACCRUALS AND DEFERRED INCOME
15
(2,000)
NET ASSETS
81,215
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
64,501
-
14,300
14,300
-
14,300
78,801
-
-
78,801		 2022
Total
funds
£
121,223
2,130
85,137
87,267
(14,054)
73,213
194,436
(32,420)
(2,000)
160,016
81,215
78,801
160,016		 2021
Total
funds
£
132,935
3,551
151,434
154,985
(14,987)
139,998
272,933
(42,014)
(4,177)
226,742
133,803
92,939
226,742

The financial statements were approved by the Board of Trustees and authorised for issue on 17 October 2023 and were signed on its behalf by:

Jean Miller - Trustee

The notes form part of these financial statements

Page 6

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - over the lease term
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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 that 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.

continued...

Page 7

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

2. DONATIONS AND LEGACIES

Unrestricted
funds
£
Gifts
3
Donations
24,007
24,010
3.
OTHER TRADING ACTIVITIES
Unrestricted
funds
£
Charitable activities
169,999
4.
OTHER INCOME
Unrestricted
funds
£
Sundry income
23,157
Deposit account interest
51
23,208
5.
CHARITABLE ACTIVITIES COSTS
Charitable activities		 Restricted
funds
£
-
-
-
Restricted
funds
£
-
Restricted
funds
£
-
-
-
Direct
Costs (see
note 6)
£
310,308		 2022
Total
funds
£
3
24,007
24,010
2022
Total
funds
£
169,999
2022
Total
funds
£
23,157
51
23,208
Support
costs
£
3,868		 2021
Total
funds
£
-
53,127
53,127
2021
Total
funds
£
37,604
2021
Total
funds
£
626
58
684
Totals
£
314,176

continued...

Page 8

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Horse Feed
Maintenance of ponies
Travel and motor expenses
Bank charges
Repairs and renewals
Computer expenses
Health and Safety
Staff training
DBS costs
Subscriptions and Licenses
Riding Equipment
Riding instructor fees
Vets fees
Pest control
Events
Cleaning
Equipment hire
Entertainment
Depreciation
Interest payable and similar charges		 2022
£
206,754
9,081
7,816
977
1,595
1,040
3,881
9,578
11
2,110
26,232
961
2,855
419
476
855
3,127
3,953
6,431
432
204
358
2,710
47
17,543
862
310,308		 2021
£
146,002
9,309
7,257
1,225
1,892
4,722
6,677
9,392
892
883
10,224
-
-
-
-
-
-
-
-
-
-
-
-
-
29,670
1,042
229,187

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

continued...

Page 9

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

8. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
53,127
Charitable activities
Other grants received
81,407
Government Grants
-
Other trading activities
37,604
Other income
684
Total
172,822
EXPENDITURE ON
Raising funds
5,687
Charitable activities
Charitable activities
147,727
Total
153,414
NET INCOME
19,408
RECONCILIATION OF FUNDS
Total funds brought forward
114,395
TOTAL FUNDS CARRIED FORWARD
133,803		 2022
£
206,754
206,754
2022
19
Restricted
fund
£
-
46,811
45,597
-
-
92,408
-
86,810
86,810
5,598
87,341
92,939		 2021
£
146,002
146,002
2021
16
Total
funds
£
53,127
128,218
45,597
37,604
684
265,230
5,687
234,537
240,224
25,006
201,736
226,742

continued...

Page 10

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

10. TANGIBLE FIXED ASSETS

Fixtures
Freehold
Plant and
and
property
machinery
fittings
£
£
£
COST
At 1 April 2021
221,497
18,300
33,788
Additions
-
-
5,831
At 31 March 2022
221,497
18,300
39,619
DEPRECIATION
At 1 April 2021
121,417
-
25,202
Charge for year
12,335
-
3,716
At 31 March 2022
133,752
-
28,918
NET BOOK VALUE
At 31 March 2022
87,745
18,300
10,701
At 31 March 2021
100,080
18,300
8,586
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 14)
Trade creditors
Taxation and social security		 Motor
vehicles
£
14,150
-
14,150
8,181
1,492
9,673
4,477
5,969
2022
£
1,531
567
32
2,130
2022
£
9,568
4,486
-
14,054		 Totals
£
287,735
5,831
293,566
154,800
17,543
172,343
121,223
132,935
2021
£
3,180
-
371
3,551
2021
£
7,986
4,314
2,687
14,987

continued...

Page 11

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 14)
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years
15.
ACCRUALS AND DEFERRED INCOME
Accruals and deferred income
16.
MOVEMENT IN FUNDS
At 1.4.21
£
Unrestricted funds
General fund
133,803
Restricted funds
Grant fund
92,939
TOTAL FUNDS
226,742		 2022
£
32,420
2022
£
9,568
32,420
2022
£
2,000
Net
movement
in funds
£
(52,588)
(14,138)
(66,726)		 2021
£
42,014
2021
£
7,986
42,014
2021
£
4,177
At
31.3.22
£
81,215
78,801
160,016

continued...

Page 12

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
233,150
Restricted funds
Grant fund
14,300
TOTAL FUNDS
247,450
Comparatives for movement in funds
At 1.4.20
£
Unrestricted funds
General fund
114,395
Restricted funds
Grant fund
87,341
TOTAL FUNDS
201,736
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
172,822
Restricted funds
Grant fund
92,408
TOTAL FUNDS
265,230		 Resources
Movement
expended
in funds
£
£
(285,738)
(52,588)
(28,438)
(14,138)
(314,176)
(66,726)
Net
movement
At
in funds
31.3.21
£
£
19,408
133,803
5,598
92,939
25,006
226,742
Resources
Movement
expended
in funds
£
£
(153,414)
19,408
(86,810)
5,598
(240,224)
25,006

continued...

Page 13

NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Grant fund
TOTAL FUNDS		 At 1.4.20
£
114,395
87,341
201,736		 Net
movement
in funds
£
(33,180)
(8,540)
(41,720)		 At
31.3.22
£
81,215
78,801
160,016

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Grant fund
TOTAL FUNDS		 Incoming
resources
£
405,972
106,708
512,680		 Resources
Movement
expended
in funds
£
£
(439,152)
(33,180)
(115,248)
(8,540)
(554,400)
(41,720)

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 14