**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 - 1 - ## **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: - 1 accounting records were not kept in respect of the as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. P Cobb – Independent Examiner Dated: ......................... 22-May-2020 - 2 - ## **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. - 3 - ## **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** - 4 - ## **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** - 5 - ## **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. - 6 - ## **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| - 7 - ## **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| - 8 - ## **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). - 9 -