Raleagh Equine Rescue Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2022 Page 7 2022 Unrestricted funds Total funds 2021 Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 920 9,832 98,830 15,651 80,463 15,651 80,463 Total ineome 96.114 96,114 109,582 Expenditure Expenditure on charitable activities Total expenditure 84,459 84,459 78,942 84,459 84,459 78,942 Net (losses)/gains on investments 10 (94,120) (94,120) 252,853 Net (expenditure)/ineome and net movement in funds (82.465) (82,465) 283,493 Reeonciliation of funds Total fuiids brought forward Total funds carried forward 2.687,649 2,687,649 2.404,156 2,605,184 2,605,184 2,687,649 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activilies. The notes on pages 10 to 17 fomi part of these financial statements. Raleagh Equine Rescue Limited Company Limited by Guarantee Statement of Financial Position Page 8 30 September 2022 2022 2021 Note Fixed assets Tangible fixed assets Investments 15 16 638,950 1,845,649 625,425 1,947,081 2,484,599 2.572,506 Current assets Stocks Deblurs Cash at bank and in hand 17 18 2,949 9,901 117,152 2.182 9,730 111,773 130,002 123,685 Creditors: amounts falling due within one year Net current assets 19 9,417 8,542 120,585 115,143 Total assets less current liabilities Net assets 2,605,184 2,605,184 2.687,649 2,687,649 Funds of the eharity Unrestricted fuiids 2,605,184 2,605,184 2,687,649 2,687,649 Total charity funds 21 For the year ending 30 September 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 10 to 17 form part of these financial statements. Raleagh Equine Rescue Limited Company Limited by Guarantee Statement of Financial Position (continued) 30 September 2022 Page 9 These financial slatemenls were approved by the board of trustees and authorised for issue on 15 June 2023, and are signed on behalf of the board by: Mr K L I Stewart Trustee The notes on pages 10 to 17 form part of these financial statements. Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements Page 10 Year ended 30 September 2022 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is 110 Drumnaconnagher Road, Crossgar, County Down, B T30 9JJ. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charilies SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared under tlie historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value. The financial stateinents have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to cliarities preparing their accounts in accordance with the Finaiicial Reporting Standard for Sinaller Entities (effective January 2015) (SORP 2015). The financial statcments have been prepared under the historical cost convention having applied the transitional arrangements of FRS 15, and in accordance with applicable accounting standards. Going Concern There are no material uncertainties about the Charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptioiis that affect the amounts reported. These estimates and judgements are conlinually reviewed and are based on experience and other factors, including expectalions of futiire events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or Commitment. Restricted funds are subjected to restrictions on their expenditure declared by th¢ donor or through the ternis of an appeal. and fall into one of two sub-classes." restricted income funds or endowment funds. Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Page 11 Accounting policies (confinHed) Incoming resources All incoming resources are included in the statement of financial activities when entitlement h&s passed to the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of Ihe goods unless this is impractical to measure reliably, in which case the value is derived from the cost to th¢ donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured, No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricted funds unless there is a contracliial requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VA T which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expendilure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the Lrovernance of the Charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditur¢ on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a Single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are inilially recorded at cost. Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Page 12 Accounting policies (conlinuedj Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset as follows: Building improvements Equipment 200/0 Straight line 20% straight line Investments Short term investments are initially recorded at cost and are reported in their Balance Sheet at their market value at the Balance Slieet date. Gains or losses on revaluation are reported through the Statement of Financial Activities Profit and Loss Account and are treated as being part of the net movement iii funds in the year. Impairment of fixed assets A review for indicators of impairnient is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairn]ent testing) when it is not possible to estimate the recoverable amount of an individiial asset, an estimate is made of the re¢overabl¢ amount of the cash-generating unit to which the asset belongs. The casli-generating unit is ihe smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairmcnt testing of goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated to each of the cash-generating units that are expected to benefit from the synergies of tlie combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing Ihe stock to its present location and condition. Limited by guarantee The company is limited by guarantee and has no authorised or issued share capital. The company has charitable status accepted by H M Revenue & Customs under reference XR 43402, and by the Northern Ireland Charity Commission under reference NIC 102497. Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Donations and legaeies Page 13 Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Donations Donations 920 920 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Income from charitable activities 15,651 15,651 9,832 9,832 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Income from listed investments Bank interest receivable Rentsl income 78,125 78,125 93,357 93,357 2,336 2,336 5,473 5,473 80,463 80,463 98,830 98,830 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Charitable activities Support costs 66,517 17,942 66,517 17,942 61,255 17,687 61,255 17,687 84,459 84,459 78,942 78,942 Expenditure on charitable activities by activity type Activities undertaken directKy Support costs Total funds 2022 Total fund 2021 Charitable activities Govemance costs 66,517 66,517 17,942 61,255 17,687 17,942 66,517 17,942 84,459 78,942 Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 30 September 2022 10. Net (losses)Igains on investments Page 14 Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Gains/(losses) on revaluation of investment assets Gains/(losses) on disposal of shares (92,529) (1,591) (94,120) (92,529) (1,591) (94,120) 215.776 37,077 215,776 37,077 252,853 252,853 11. Nel (expenditure)lin¢ome Net (expenditure)lincome is stated after charging/(crediting): 2022 2021 Depreciation of tangible fixed assets 7,415 4,859 12. Independent examination fees 2022 2021 F¢¢s payable to Ihe independent examiner for: Independent examination of Ihe financial statements 1,950 2,100 13. Staff costs The average head count of employees during the year was 2 (2021: 2). The average number of full-time equivalent employees during the year is analysed &$ follows: 2022 2021 No. Number of administrative staff No employee received employee benefils of more than £60,000 during the year (2021: Nil). 14. Trustee remuneration and expenses No trustees received remuneration or other benefits through employment with the charity. Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 15. Tangible fixed assets Page15 Land and buildings Equipment The Lodge Total Cost At l October 2021 Additions 460,309 7,940 126,010 13,000 214,205 800,524 20,940 At 30 September 2022 Depreeiation At l O¢tober 2021 Charge for the year At 30 September 2022 Carrying amount At 30 September 2022 At 30 September 2021 468,249 139,010 214,205 821,464 60,309 114,790 7,415 175,099 7,415 60,309 122,205 182,514 407,940 16,805 214,205 638,950 400,000 11.220 214,205 625,425 16. Investments Listed investmcnts Cost or valuation At l October 2021 Additions Disposals Fair value movements Otlier movements 1,947,081 (7,321) (92,529) (1,591) 1,845,649 At 30 September 2022 Impairment At l October 2021 and 30 September 2022 Carrying amount At 30 Septcmber 2022 At 30 September 2021 1,845,649 1,947,081 All investm¢nts shown above are held at valuation. Listed investments Listed investments held by the charity and had a market valu¢ of £1,845,649 at the end of the year (2021 £1,947,081). Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 17. Stocks Page16 2022 2021 Raw materials and consumables 2,949 2,182 18. Debtors 2022 2021 Debtors and prepayments 9,901 9,730 19. Creditors: Amounts falling due within one year 2022 2021 Accruals and deferred income 9,417 8,542 20. Pensions and other post retirement benefit$ Defined Contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,829 (2021.. £1,750). 21. Analysis of charitable funds Unrestricted funds Gains and At losses 30 Sep 2022 At l Oct2021 Income Expendilure General funds 2,687,649 96,114 (84,459) (94,120) 2,605,184 Gains and At losses 30 Sep 2021 At l Oct 2020 Income Expenditure General funds 2,404,156 109,582 (78,942) 252.853 2,687,649 Raleagh Equine Rescue Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 22. Analysis of net assets between funds Page 17 Unrestricted Total Funds Funds 2022 Tangible fixed assets Enveslinents Current assets Creditors less than l year Net assets 638,950 1,845.649 130,002 (9,417) 2,605,184 638,950 1,845,649 130,002 (9,417) 2,605,184 Unrestricted Total Funds Funds 2021 Tangible fixed assets Investments Currenl &ssets Creditors less than l year Net assets 625,425 1.947,081 123,685 (8,542) 2,687,649 625,425 1,947.081 123,685 (8,542) 2,687,649