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2019-12-31-accounts

Charity Registration No. 102043

KIDS PONY FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

KIDS PONY FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr S M Harvey Mrs Paula Garrett Miss Natalie Walker

Charity number

102043

KIDS PONY FOUNDATION

CONTENTS

Page
Trustees report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 9

KIDS PONY FOUNDATION

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2019

The trustees present their report and financial statements for the year ended 31 December 2019.

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 Charities Act 2011 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 trust's objects are to provide horse riding activities to children.

Structure, governance and management

The charity is unincorporated.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr S M Harvey Mrs Paula Garrett Miss Natalie Walker

The report was approved by the Board of trustees.

7 ‘a S M Harvey Date: 22-May-2020

KIDS PONY FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE OF KIDS PONY FOUNDATION

I report to the trustees on my examination of the financial statements of Kids Pony Foundation (the charity) for the year ended 31 December 2019.

Responsibilities and basis of report

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

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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.

P Cobb – Independent Examiner Dated: ......................... 22-May-2020

KIDS PONY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2019

Unrestricted
funds
2019
Notes
£
Income from:
Donations and legacies
3
105,410
Charitable activities
4
15,650
Total income
121,060
Expenditure on:
Raising funds
5
29,808
Charitable activities
6
86,155
Total resources expended
115,963
Net income for the year/
Net movement in funds
5,097
Fund balances at 1 January 2019
21,748
Fund balances at 31 December 2019
26,845		 Total
2018
£
95,620
9,055
104,675
15,120
76,162
91,282
13,393
8,355
21,748

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

KIDS PONY FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2019

2019 2018
Notes £ £ £ £
Fixed assets
Tangible assets 9 9,500 5,075
Current assets
Stocks 10 14,105 9,350
Cash at bank and in hand 8,240 10,323
22,345 19,673
Creditors: amounts falling due within one
year 11 (5,000) (3,000)
Net current assets 17,345 16,673
Total assets less current liabilities 26,845 21,748
Income funds
Unrestricted funds 26,845 21,748
26,845 21,748

The financial statements were approved by the charity on ......................... 22-May-2020

.............................. J ( Mr S M Harvey Trustee

KIDS PONY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1 Accounting policies

Charity information

Kids Pony Foundation is an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 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 charity 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 charity in furtherance of their charitable objectives unless the funds have been designated for other purposes.

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 Incoming resources

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

KIDS PONY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2019

1 Accounting policies

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings – Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the trustees review the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

KIDS PONY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2019

1 Accounting policies

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions 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 may differ from these estimates.

The estimates and underlying 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 Donations and legacies

Unrestricted Total
funds
2019 2018
£ £
Donations and gifts 105,410 95,620

4 Charitable activities

Charitable Charitable Income
Income
2019 2018
£ £
Pony riding therapy income 15,650 9,055

KIDS PONY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2019

5 Raising funds
Trading costs
Horses, care and associated costs		 29,808
29,808		 15,120
15,120

6 Charitable activities

Charitable Charitable
Expenditure Expenditure
2019 2018
£ £
Staff costs 70,200 62,000
Operating leases 12,000 9,000
Light and Heat 2,515 3,603
Postage and Stationery 320 350
Repairs, maintenance and sundry 1,120 1,131
Bank charges - 78
86,155 76,162
86,155 76,162

KIDS PONY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2019

9
Tangible fixed assets
Cost
At 1 January 2019
Additions
At 31 December 2019
Carrying amount
At 31 December 2019
At 31 December 2018
10
Stocks
Horses and consumable stocks
11
Creditors: amounts falling due within one year
Other creditors		 Fixtures and fittings
£
5,075
4,425
9,500
9,500
5,075
2019
2018
£
£
14,105
9,350
2019
2018
£
£
5,000
3,000		 Fixtures and fittings
£
5,075
4,425
9,500
9,500
5,075
2019
2018
£
£
14,105
9,350
2019
2018
£
£
5,000
3,000
9,500
9,500
5,075
2018
£
9,350
2018
£
3,000

12 Related party transactions

There were no disclosable related party transactions during the year (2018 - none).