REGISTERED CHARITY NUMBER: 701178
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 13 |
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2023
| TRUSTEES | Jean Miller |
|---|---|
| Iain Ashby | |
| Jill Dagnan | |
| Kathryn Oliphant | |
| Nirmal Singh | |
| Jo Sutherland | |
| PRINCIPAL ADDRESS | Valley Road |
| Galley Common | |
| Nuneaton | |
| Warwickshire | |
| CV10 9NJ | |
| REGISTERED CHARITY | 701178 |
| NUMBER | |
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 and becoming a community hub for people to connect and support each other. The Charity engages trained instructors and selects suitable ponies to ensure a good quality level of service is provided. The Charity continues to look for further capital funding to improve the facilities available to our users including disabled accessibility.
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 been satisfactory. The lasting impact of COVID-19 has still challenged the Trustees and the staff through this year. The Charity had to reduce the herd of highly trained therapy horses to offset the expenditure for most of the period up to 31 March 2023 and the Charity's main objectives became to rebalance our operations whilst maintaining the welfare of the Charity's horses and the staff.
The Trustees and staff had to adapt its operations to minimise the long-term impacts of COVID-19 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 £142,075 in total on page 5.
FUTURE DEVELOPMENTS
The Trustees and staff are pleased to announce that the centre's equine assisted activities like Changing Lives Through Horses (CLtH) are gradually growing and new services are being developed in conjunction with local needs.
Restricted and unrestricted funds brought forward from the 31 March 2022 financial year together with other funds kindly donated from various organisations and people including legacy funds from 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.
Approved by order of the board of trustees on 31 January 2024 and signed on its behalf by:
Nirmal Singh - Trustee
Page 2
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 2023.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
31 January 2024
Page 3
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 60,663 Charitable activities Other grants received - Government Grants 47,399 Other trading activities 3 128,688 Other income 4 3,595 Total 240,345 EXPENDITURE ON Charitable activities 5 Charitable activities 242,726 NET INCOME/(EXPENDITURE) (2,381) RECONCILIATION OF FUNDS Total funds brought forward 81,215 TOTAL FUNDS CARRIED FORWARD 78,834 |
Restricted fund £ - 26,629 - - - 26,629 42,189 (15,560) 78,801 63,241 |
2023 Total funds £ 60,663 26,629 47,399 128,688 3,595 266,974 284,915 (17,941) 160,016 142,075 |
2022 Total funds £ 24,010 25,920 4,313 169,999 23,208 247,450 314,176 (66,726) 226,742 160,016 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
BALANCE SHEET 31 March 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 50,082 CURRENT ASSETS Debtors 11 - Cash at bank and in hand 74,164 74,164 CREDITORS Amounts falling due within one year 12 (13,429) NET CURRENT ASSETS 60,735 TOTAL ASSETS LESS CURRENT LIABILITIES 110,817 CREDITORS Amounts falling due after more than one year 13 (22,803) ACCRUALS AND DEFERRED INCOME 15 (9,180) NET ASSETS 78,834 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 57,077 - 6,164 6,164 - 6,164 63,241 - - 63,241 |
2023 Total funds £ 107,159 - 80,328 80,328 (13,429) 66,899 174,058 (22,803) (9,180) 142,075 78,834 63,241 142,075 |
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 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2024 and were signed on its behalf by:
Nirmal Singh - Trustee
The notes form part of these financial statements
Page 5
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023
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 6
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
2. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations 60,663 3. OTHER TRADING ACTIVITIES Unrestricted funds £ Charitable activities 128,688 4. OTHER INCOME Unrestricted funds £ Sundry income 3,103 Deposit account interest 492 3,595 5. CHARITABLE ACTIVITIES COSTS Charitable activities 6. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rates and water 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 Carried forward |
Restricted funds £ - Restricted funds £ - Restricted funds £ - - - Direct Costs (see note 6) £ 274,499 |
2023 Total funds £ 60,663 2023 Total funds £ 128,688 2023 Total funds £ 3,103 492 3,595 Support costs £ 10,416 2023 £ 149,863 1,672 10,434 14,252 767 618 3,291 7,373 23,864 537 3,086 3,070 1,422 2,174 1,050 223,473 |
2022 Total funds £ 24,010 2022 Total funds £ 169,999 2022 Total funds £ 23,157 51 23,208 Totals £ 284,915 2022 £ 206,754 - 9,081 7,816 977 1,595 1,040 3,881 9,578 11 2,110 26,232 961 2,855 419 273,310 |
|---|---|---|---|
continued...
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NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
6. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued
| Brought forward 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 |
2023 £ 223,473 119 656 173 22,350 4,362 438 - 4,235 390 2,161 15,110 1,032 274,499 |
2022 £ 273,310 476 855 3,127 3,953 6,431 432 204 358 2,710 47 17,543 862 310,308 |
|---|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor 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 |
2023 £ 149,863 149,863 2023 14 |
2022 £ 206,754 206,754 2022 19 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
Page 8
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Other grants received Government Grants Other trading activities Other income Total EXPENDITURE ON Charitable activities Charitable activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST At 1 April 2022 221,497 18,300 Additions - - At 31 March 2023 221,497 18,300 DEPRECIATION At 1 April 2022 133,752 - Charge for year 11,241 - At 31 March 2023 144,993 - NET BOOK VALUE At 31 March 2023 76,504 18,300 At 31 March 2022 87,745 18,300 |
ACTIVITIES Unrestricted fund £ 24,010 11,620 4,313 169,999 23,208 233,150 285,738 (52,588) 133,803 81,215 Fixtures and fittings £ 39,619 1,046 40,665 28,918 2,750 31,668 8,997 10,701 |
Restricted fund £ - 14,300 - - - 14,300 28,438 (14,138) 92,939 78,801 Motor vehicles £ 14,150 - 14,150 9,673 1,119 10,792 3,358 4,477 |
Total funds £ 24,010 25,920 4,313 169,999 23,208 247,450 314,176 (66,726) 226,742 160,016 Totals £ 293,566 1,046 294,612 172,343 15,110 187,453 107,159 121,223 |
|---|---|---|---|
continued...
Page 9
NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade debtors - Other debtors - Prepayments - - 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Bank loans and overdrafts (see note 14) 9,568 Trade creditors 3,861 13,429 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 14) 22,803 14. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due within one year on demand: Bank loans 9,568 Amounts falling due between two and five years: Bank loans - 2-5 years 22,803 15. ACCRUALS AND DEFERRED INCOME 2023 £ Accruals and deferred income 9,180 |
2022 £ 1,531 567 32 2,130 2022 £ 9,568 4,486 14,054 2022 £ 32,420 2022 £ 9,568 32,420 2022 £ 2,000 |
|---|---|
continued...
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NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Grant fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Grant fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Grant fund TOTAL FUNDS |
At 1.4.22 £ 81,215 78,801 160,016 Incoming resources £ 240,345 26,629 266,974 At 1.4.21 £ 133,803 92,939 226,742 |
Net movement At in funds 31.3.23 £ £ (2,381) 78,834 (15,560) 63,241 (17,941) 142,075 Resources Movement expended in funds £ £ (242,726) (2,381) (42,189) (15,560) (284,915) (17,941) Net movement At in funds 31.3.22 £ £ (52,588) 81,215 (14,138) 78,801 (66,726) 160,016 |
|---|---|---|
continued...
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NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Grant fund TOTAL FUNDS |
Incoming resources £ 233,150 14,300 247,450 |
Resources Movement expended in funds £ £ (285,738) (52,588) (28,438) (14,138) (314,176) (66,726) |
|---|---|---|
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 1.4.21 £ 133,803 92,939 226,742 |
Net movement in funds £ (54,969) (29,698) (84,667) |
At 31.3.23 £ 78,834 63,241 142,075 |
|---|---|---|---|
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 £ 473,495 40,929 514,424 |
Resources Movement expended in funds £ £ (528,464) (54,969) (70,627) (29,698) (599,091) (84,667) |
|---|---|---|
continued...
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NUNEATON & WARWICKSHIRE EQUESTRIAN CENTRE RIDING FOR DISABLED
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 13