Company registration number.. N1041520
Charity registration number.. 102497
Raleagh Equine Rescue Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 September 2024

Raleagh Equine Rescue Limited
Contents
Reference and Administrative Details
Trustees, Report
2to5
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
8t09
Notes to the Financial Statements
10t018

Raleagh Equine Rescue Limited
Reference and Administrative Details
Trustees
Mr Kenneth Leslie Irwin Stewart
Mr Richard George Riddall
Miss Lynda Catherine Stewart
Mrs Aex Hughes
Mrs Doreen Alexandra Riddall
Secretary
Mrs Alex Hughes
Charity Registration Number
102497
Company Registration Number N1041520
Registered Office
110 Drumnaconagher Road
Crossgar, Downpatrick
Down
BT30 9JJ
Independent Examiner
RBCA Limited
Chartered accountants
26 Linenhall Street
Belfast
BT2 8BG
Solicitors:
Fisher & Fisher
165 Sandy Row
Belfast
BT125ET
Bankers
Ulster Bank
140 - 142 Great Victoria Street
Belfast
BT2 7BU
Page 1

Raleagh Equine Rescue Limited
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 30 September 2024.
Trustees and officers
The trustees and officers serving during the year and Sin￿ the year end were as follows..
Trustees..
Mr Kenneth Leslie Imin Stewart
Mr Richard George Riddall
Miss Lynda Catherine Stewart
Mrs Alex Hughes
Mrs Doreen Alexandra Riddall
Secretary..
Mrs Alex Hughes
Objectives and activities
The company's objectives and principal activities are to-
Prevent and relieve cruelty to horses, to protect them from unnecessary suffering, and by making
arrangements for the adoption of such animals and to promote knowledge of their proper care and
treatment among the public.
Ameliorate the pain and suffering of horses which are for any reason unfit for work or in need of
care by the provision, maintenance and management of a home of rest or homes of rest or by the
provision of suitable work under the supervision of the Company or by arranging for their painless
destruction or by any combination of such means as aforesaid.
The company continues to develop the farmyard by updating the outhouses and sheds and other
accommodation for the equines. Plant and machinery was also renewed, repaired or repla￿d as
necessary.
Page 2

Raleagh Equine Rescue Limited
Trustees. Report
Public benefit
The public benefit of the charity as follows=
To organise educational meetings at the sanctuary for both children and adults. These horses will
help children to grow in a positive healthy environment. To educate the public on all matters
concerning the welfare of these animals enabling the community to interact more positively with
others. The directors believe that all the charity's donations etc. should be put to the maximum use
and so no director receives any payment. fess nor any benefit in kind from the charity, 100 /0 of what
is received by the charity is used for the equines care and upkeep. Our purpose is to prevent and
relieve cruelty to horses etc. and to protect them from unnecessary suffering and encourage a
knowledge and love for horses and of their proper care and treatment among the people of Northern
Ireland.
We wish to prevent the pain and suffering of horses. The sanctuary has been looking after equines
since 2001 and we find homes for unwanted horses etc. throughout Northern Ireland. Most of our
horses are elderly and some suffer from the human equivalent of arthritis and so they must be treated
for this. Their teeth must also be treated by an equine dentist, this is very important, because if they
have bad teeth, they will not be eating correctly. We have approximately 35 equines at the sanctuary
at any time, we would like to have more but unfortunately the amount of land we have restricts the
number of horses etc. that we can look after.
We also have upwards of 68 out on loan to members. If any one wishes to take a horse out please
contact us. The charity provided a suitable environment for the equines to live in.. we ensure that they
have a healthy diet including supplements were ne￿Ssary, have the appropriate company as horses
are sociable animals and are protected from pain, suffering, injury and disease. All the equines are
wormed on a regular basis and the farrier visits the sanctuary on a regular basis's. The equines are
inspected at least once a day to ensure that they are as healthy as possible considering their age. To
ensure that we operate a best practice approach in the sanctuary we have arranged for a British
Horse Society Approved Yard Owner to review the sanctuary every three of four months. We will not
put a horse down unless a Veterinary Surgeon has advised this final course of action and this will be
carried out by the Veterinary Surgeon in a very humane manner.
Achievements and perfomiance
Raleagh Equine Rescue Limited is a 89 acre farm devoted to their upkeep and well being of horses
and donkeys. We currently have 26 residents. with several new additions coming in this year. Sadly,
due to the death of our administrator. as a charity we have had to spend sometime stabilising the day
to day running & long term objectives. To date we are focussed on maintaining strong community
links with local pony clubs and are aiming to generate fund raising through awareness days. we also
hope now that schools have settled after lockdown to reintrodu￿ educational days to encourage
positive learning about animal welfare & to enhance the mental health through equine therapy of
groups visiting the sanctuary. As part of uor ongoing welfare programme, the equines receive
constant vet, foot & teeth care, we also have a bi-annual inspections from the BHS.
Financial review
The charity's incoming reSoUr￿S have increased over the year, increasing from £85,434 to £93,947.
In addition, the charity has experienced an increase in its resources expended from £86.973 to
£89,104. The surplus in the year {excluding revaluation gains was £4,843 12023.. Deficit of £1,539).
Revaluation gain on investments in the year was £95,426 resulting in an overall gain in the year of
£100,269.
Page 3

Raleagh Equine Rescue Limited
Trustees. Report
Structure, governance and management
Nature of goveming document
Raleagh Equine Rescue Limited is a company limited by guarantee, incorporated on 13 September
2011. and was formally granted charitable status on 18 May 2015.
The company was established under a Memorandum and Articles of Association which established
the objects and powers of the charitable company and is governed by these articles. In the event of
the company being wound up, members are required to contribute an amount not exceeding £1.
Recruitment and appointment of trustees
The make-up of the board is reviewed on a regular basis to ensure skills, knowledge and experience
meets the needs of the charitable company. Directors are appointed by election of the members of the
company in accordance with the memorandum and articles of association.
Statement of trustees. responsibilities
The trustees (who are also the directors of Raleagh Equine Rescue Limited for the purposes of
company law) are responsible for preparing the trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting practi￿), including FRS 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources. including its income and expenditure, of the charitable
company for that period. In preparing these financial statements. the trustees are required to-
select suitable accounting policies and apply them consistently-
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards, comprising FRS 102 have been followed, subject
to any material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitsble company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordan￿ with the provisions applicable to companies entitled to
the small companies exemption.
Page 4

Raleagh Equine Rescue Limited
Trustees. Report
26 Jun 2025
The annual report was approved by the trustees of the charity on
behalf by=
and signed on its
S4
¥y&r
Mr Kenneth Leslie Irwin Stewart
Trustee
Mrs Alex Hughes
Company secretary and trustee
Page 5

Raleagh Equine Rescue Limited
Independent Examiner's Report to the trustees of Raleagh Equine Rescue
Limited ('the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
30 September 2024.
Responsibilities and basis of report
As the charity's trustees of Raleagh Equine Rescue Limited (and also its directors for the purposes of
company law) you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Companies Act 2006 ('the 2006 Act.).
Having satisfied myself that the accounts of Raleagh Equine Rescue Limited are not required to be
audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect
of my examination of your charity's accounts as carried out under section 65 of the Charities Act
(Northern Ireland) 2008 {'the 2008 Act'}. In carrying out my examination I have followed the Directions
given by the Charity Commission for Northem Ireland under section 65{9)(b) of the 2008 Act.
Basis of independent examiner's report
My examination was carried out in accordance with the general directions given by the Charity
Commission for Northem Ireland under section 65(9}(b) of the Charities Act. The examination
included a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual items or disclosures in the
accounts and seeking explanations from you as charity trustees con￿MIng any such matters.
My role is to state whether any material matters have come to my attention giving me cause to
believe..
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006"
2. That the accounts do not accord with those accounting records"
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies
Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland., and
4. That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and have no con￿M5 in respect of the matters {1) to (4) listed
above and, in connection with following the Directions of the Charity Commission for Northem Ireland,
I have found no matters that require drawing to your attention.
Mr Brian Stewart
RBCA Limited
Chartered accountants
26 Linenhall Street
Belfast
BT2 8BG
27 Jun 2025
Date:.............................
Page 6

Raleagh Equine Rescue Limited
Statement of Financial Activities for the Year Ended 30 September 2024
{Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Charitable activities
Investment income
9.098
84.849
9,098
84,849
8,131
77,303
Total income
93.947
93,947
85,434
Expenditure on:
Charitable activities
{89,104)
(89,104)
(86,973)
Total expenditure
{89,104)
(89,104)
(86,973)
Net incomel{expenditure)
Other recognised gains and losses
Other gainsllosses
4.843
4,843
{1,539)
95,426
95,426
86,929
95,426
95,426
86,929
Net movement in funds
100,269
100,269
85,390
Reconciliation of funds
Total funds brought forward
2,690,574
2,690,574
2,605,184
Total funds carried forward
16
2,790,843
2,790,843
2,690,574
All of the charity's activities derive from continuing operations during the above periods.
The funds breakdown for 2023 is shown in note 16.
The notes on pages 10 to 18 fomi an integral part of these financial statements.
Page 7

Raleagh Equine Rescue Limited
(Registration number: N1041520)
Balance Sheet as at 30 September 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
10
638,885
2,055,386
633,255
1,932,578
2,694,271
2,565,833
Current assets
Stocks
Debtors
Cash at bank and in hand
12
13
14
1,268
9,254
93,548
1,268
9,184
124,166
104,070
134,618
Creditors: Amounts falling due within one year
15
(7,498)
{9,877)
Net current assets
96,572
124,741
Net assets
2,790,843
2,690,574
Funds of the charity".
Unrestricted income funds
Unrestricted funds
2,790,843
2,690,574
Total funds
16
2,790,843
2,690,574
For the financial year ending 30 September 2024 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 charity to obtain an audit of its accounts for the year in
question in accordance with section 476.. and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to
companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 10 to 18 fomi an integral part of these financial statements.
Page 8

Raleagh Equine Rescue Limited
(Registration number: N1041520)
Balance Sheet as at 30 September 2024
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on
26.Jun.2025.. and signed on their behalf by:
&.S4
Mr Kenneth Leslie Irwin Stewart
Trustee
Mrs Alex Hughes
Company secretary and trustee
The notes on pages 10 to 18 fomi an integral part of these financial statements.
Page 9

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
1 Charity status
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is
110 Drumnaconnagher Road, Crossgar, County Down, BT30 9JJ.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented, unless othe￿iSe
stated.
Statement of compliance
The financial statements have been prepared in accordan￿ with Accounting and Reporting by
Charities- Statement of Recommended practi￿ (applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)} (issued in October 20191 (Charities SORP {FRS 1021), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Raleagh Equine Rescue Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless othewise stated in
the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern nor any significant areas of Un￿rtaInty that affect the carrying value of assets held by
the charity.
Income and endowments
All incoming resources are included in the Statement of Financial Activities (SOFA} when the charity
is legally entitled to the income after any performance conditions have been met, the amount can be
measured reliably and it is probable that the income will be re￿ived.
For donations to be recognised the charity will have been notified of the amounts and the settlement
date in writing. If there are conditions attached to the donation and this required a level of
performance before entitlement can be obtained then income is deferred until those conditions are
fully met or the fulfilment of those conditions is within the control of the charity and it is probable that
they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP.
Investment income is earned through holding assets for investment purposes such as shares. It
includes dividends and interest. Interest income is recognised using the effective interest method and
dividend and rent income is recognised as the charity's right to receive payment is established.
Page 10

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources. for example, allocating propety costs by floor areas, or per
capits, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory
requirements, including audit, strategic management and trustees meetings and reimbursed
expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost. less any subsequent accumulated depreciation
and subsequent accumulated impairment losses.
Depreciation and amortisation
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=
Asset class
Building improvements
Equipment
Depreciation method and rate
20 % straight line
20 % Straight line
Page11

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Fixed asset investments
Fixed asset investments are induded at market value at the balance sheet date. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their market
value at the start of the year. or their subsequent cost. and are charged or credited to the Statement
of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling pri￿ less costs to complete and sell, after
due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or SeNi￿S performed in the
ordinary course of business.
Trade debtors are recognised initially at the transaction pri￿. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of trade debtors is established when there is objective evidence that the charity will not be
able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Accounts payable are classified as current liabilities if the charity
does not have an unconditional right, at the end of the reporting period, to defer settlement of the
creditor for at least twelve months after the reporting date. If there is an unconditional right to defer
settlement for at least twelve months after the reporting date, they are presented as non-current
liabilities.
Trade creditors are recognised initially at the transaction pri￿ and subsequently measured at
amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtheran￿ of the objectives of the charity.
Page 12

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the Substan￿ of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction pri￿ (including transaction
costs), except for those financial assets classified as at fair value through profit or loss, which are
initially measured at fair value (which is normally the transaction pri￿ excluding transaction costs),
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing
transaction, the financial asset or financial liability is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right to set off the recognised amounts and the charity intends
either to settie on a net basis, or to realise the asset and setue the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, b) the charity transfers to another paty substantially all
of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained
some, but not all, significant risks and rewards of ownership. has transferred control of the asset to
another paty.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
Can￿lled or expires.
3 Income from charitable activities
Unrestricted
funds
General
Total
2024
Total
2023
Income from charitable activities
9,098
9,098
8,131
4 Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Bank interest receivable
Rental income
Income from listed investments
27
3,699
73,577
8,050
76,799
8,050
76,799
84,849
84,849
77,303
Page 13

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
S Expenditure on charitable activities
Unrestricted
funds
General
Total
2024
Total
2023
Note
Charitable activities
89,104
89,104
86,973
6 Net gainsl(losses) on investments
Unrestricted
Funds
Total
Funds
2024
Total
Funds
2023
Gainsl{losses) on revaluation of investment assets
95,426 95,426 86,929
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity
during the year (2023 = £nil).
8 Staff costs
The monthly average number of persons employed by the charity during the year expressed as full
time equivalents was as follows..
2024
No
2023
No
Employees
No employee received emoluments of more than £60,000 during the year (2023: £nil).
Page 14

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
Land and
buildings
Furniture and
equipment
Total
Cost
At 1 October 2023
Additions
682,454
139,160
12,750
821,614
12,750
At 30 September 2024
682,454
151,910
834,364
Depreciation
At 1 October 2023
Charge for the year
60,309
128,050
7,120
188,359
7,120
At 30 September 2024
60,309
135,170
195,479
Net book value
At 30 September 2024
622,145
16,740
638,885
At 30 September 2023
622,145
11,110
633,255
Included within the net book value of land and buildings above is £407,940 {2023 £407,940) in
respect of freehold land and buildings and £214,205 (2023 - £214,205) in respect of leaseholds.
11 Fixed asset investments
2024
2023
Listed investments
2,055,386
1,932,578
Page 15

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Investments
Listed
Investments
Total
At 1 October 2023
Revaluation
Additions
Disposals
1,932,578 1,932,578
95,426
95,426
166,343
166,343
(138,961) (138,961)
At 30 September 2024
2,055,386 2,055,386
12 Stock
2024
2023
Stocks
1,268
1,268
13 Debtors
2024
2023
Trade debtors
Prepayments
other debtors
4,314
2,621
2,319
5,023
4,039
122
9,254
9,184
14 Cash and cash equivalents
2024
2023
Cash at bank
93,548
124,166
Page 16

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
15 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals
3,097
1,512
109
2,780
9,494
382
7,498
9,877
16 Funds
Balance at
Other
30
Resources
recognised September
expended gainsl(losses)
2024
Balance at
1 October
2023
Incoming
resources
Unrestricted funds
General
General
2,690,574
103,097
(98,254)
95,426
2,790,843
Balance at
Other
30
Resources
recognised September
expended gainsl(losses)
2023
Balance at
1 October
2022
Incoming
resources
Unrestricted funds
General
General
2,605,184
85,434
(86,973)
86,929
2,690,574
17 Analysis of net assets between funds
Total funds
at30
September
2024
Unrestricted
funds
General
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
638,885
2.055,386
104,070
(7,498)
638,885
2,055,386
104,070
{7,498)
Total net assets
2,790,843
2,790,843
Page 17

Raleagh Equine Rescue Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Total funds
at30
September
2023
Unrestricted
funds
General
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
633,255
1,932,578
134,618
(9,877
633,255
1,932,578
134,618
9,877)
Total net assets
2,690,574
2,690,574
Page 18