Newbury Riding For The Disabled Limited - Charities report - 19.1

REGISTERED COMPANY NUMBER: 05642114 (England and Wales)

REGISTERED CHARITY NUMBER: 1121113

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR

ENDED 31 DECEMBER 2018

FOR

NEWBURY RIDING FOR THE DISABLED LIMITED

NEWBURY RIDING FOR THE DISABLED LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Report of the Trustees

1 to 2

Statement of Trustees Responsibilities

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6 to 7

Notes to the Financial Statements

8 to 13

NEWBURY RIDING FOR THE DISABLED LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2018

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with

the financial statements of the charity for the year ended 31 December 2018. 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the charity is to provide riding lessons as a therapy to disabled children and young people. This improves

muscle tone, co-ordination, concentration and gives the rider a sense of achievement as well as pleasure.

ACHIEVEMENT AND PERFORMANCE

Classes are organised in response to demand for lessons and currently we are holding 20 half hour physical therapy

lessons (riding) per week and a number of 'theory' lessons, some under the RDA/ASDAN (Award Scheme Development

and Accreditation Network) collaborative programme, which is tailored by each class to complement the school

curriculum.

The Charity employs a full time stable manager who is responsible for the day to day running of the stables and care of

the ponies. We also now employ an additional person for weekends.

There are around 100 volunteers registered with the Charity, the majority of whom attend once a week to assist in the

classes: roles include coaches (who are trained RDA instructors), pony leaders, side-helpers and administrators.

Depending on the ability, a disabled rider may require up to 3 people to assist them whilst mounted on a pony; one to

lead the pony and a person on each side (side helpers) to assist the rider.

The Charity remains completely self funded and is totally reliant on fundraising events, donations, bequests and grants to

help cover the running costs. Running costs include pony upkeep, staff salary, rent for stable complex and insurances.

This year the charity showed a surplus of £3,634.

Although donations received were at around 50% of the 2017 levels we were fortunate to still receive support from a

number of people and organisations. Riders may make a voluntary donation for their attendance; the income from this

amounted to £6,510.

Grants applied for and successfully received were significantly up at £21,003 compared to £6,263 in 2017. These

included £10,000 from Bernard Sunley Charitable Foundation for the purchase of the new tractor, £4,500 for the

purchase of a new pony from Genesis and £4,000 from the Greenham Trust for the design and implementation of a new

information database.

Our Autumn Fair was extremely successful delivering a surplus of £13,700. This remains a very key part of our

fundraising activities.

Our biggest areas of expenditure remain the rent for the stables (£10,751), staff costs (£20,611) and the upkeep of ponies

(£9,884).

FINANCIAL REVIEW

Financial position

As at 31st December 2018 the charity had funds of £146,794.

Principal funding sources

The main source of funds are from voluntary donations.

Reserves policy

It is the policy of the Charity to develop and maintain the free reserves of the Charity at a level to cover management,

administration and support costs of the Charity. Of the unrestricted reserves £90,000 has been designated to be held on

deposit to provide alternative premises should the current lease be terminated.

FUTURE PLANS

It will be the continued policy of the Charity to develop and maintain the existing activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the Memorandum and Articles of Association dated 1st December

2005, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are appointed by the Board in accordance with the Memorandum and Articles of Association.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05642114 (England and Wales)

Registered Charity number

1121113

Registered office

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

Trustees

Mrs J E Whiteman

Mrs C A Courtier-Dutton

- resigned 4.6.18

Mrs P J Rowe

- resigned 20.10.18

Mrs M Iliffe

Mrs C L Spencer

Mrs L M Hanbury

Mrs E A Leaver

- resigned 4.6.18

Mrs W A Hudson

- appointed 4.6.18

Mrs F L Morris

- appointed 4.6.18

Mrs A J Crowe

- appointed 21.9.18

Independent examiner

J A Burnett

ACA CTA

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

PUBLIC BENEFIT

The trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance

published by the Charity Commission. Benefits arise from the work of the charity in the positive impact on those

children and young people that attend the classes. The benefits are described in the objectives and activities of the

charity.

Approved by order of the board of trustees on 29 April 2019 and signed on its behalf by:

Mrs L M Hanbury - Trustee

NEWBURY RIDING FOR THE DISABLED LIMITED

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2018

The trustees (who are also the directors of Newbury Riding For The Disabled Limited for the purposes of company law)

are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law

and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which 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

the income and expenditure, of the charitable company for that period. In preparing those financial statements, the

trustees are required to

-

select suitable accounting policies and then apply them consistently;

-

observe the methods and principles in the Charity SORP;

-

make judgements and estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time

the financial position of the charitable company and to 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.

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

NEWBURY RIDING FOR THE DISABLED LIMITED

Independent examiner's report to the trustees of Newbury Riding For The Disabled Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2018.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

1.

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

J A Burnett

ACA CTA

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

Date: .............................................

NEWBURY RIDING FOR THE DISABLED LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2018

31.12.18

31.12.17

Unrestricted funds

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

40,341

38,223

Charitable activities

Funraising events

21,498

22,030

Investment income

3

341

291

Total

62,180

60,544

EXPENDITURE ON

Raising funds

4,263

4,011

Charitable activities

4

Riding for the Disabled

54,283

52,734

Total

58,546

56,745

NET INCOME

3,634

3,799

RECONCILIATION OF FUNDS

Total funds brought forward

143,160

139,361

TOTAL FUNDS CARRIED FORWARD

146,794

143,160

NEWBURY RIDING FOR THE DISABLED LIMITED

BALANCE SHEET

AT 31 DECEMBER 2018

31.12.18

31.12.17

Unrestricted funds

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

11

17,713

4,903

CURRENT ASSETS

Debtors

12

4,500

-

Cash at bank and in hand

127,157

139,660

131,657

139,660

CREDITORS

Amounts falling due within one year

13

(2,576

)

(1,403

)

NET CURRENT ASSETS

129,081

138,257

TOTAL ASSETS LESS CURRENT LIABILITIES

146,794

143,160

NET ASSETS

146,794

143,160

FUNDS

14

Unrestricted funds:

General fund

56,794

53,160

Designated capital fund

90,000

90,000

146,794

143,160

TOTAL FUNDS

146,794

143,160

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)

ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies

Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 29 April 2019 and were signed on its behalf by:

Mrs W A Hudson -Trustee

NEWBURY RIDING FOR THE DISABLED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 2015)',

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland' and the Companies Act 2006. 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.

Ponies

- 20% on reducing balance

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 20% on reducing balance

Tack

- 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis

over the period of the lease.

2.	DONATIONS AND LEGACIES

31.12.18

31.12.17

£

£

Donations

12,828

25,443

Riding lesson donations

6,510

6,517

Grants

21,003

6,263

40,341

38,223

3.	INVESTMENT INCOME

31.12.18

31.12.17

£

£

Deposit account interest

341

291

4.	CHARITABLE ACTIVITIES COSTS

Direct costs

Support costs

Totals

(See note 5)

(See note 6)

£

£

£

Riding for the Disabled

52,375

1,908

54,283

5.	DIRECT COSTS OF CHARITABLE ACTIVITIES

31.12.18

31.12.17

£

£

Staff costs

20,611

15,318

Rent

10,751

10,751

Rates and water

1,172

1,222

Insurance

1,522

1,334

Light and heat

888

707

Office costs

1,264

869

Sundries

1,427

1,094

Pony care

1,362

1,220

Bedding

75

135

Clipping

230

130

Dentist

288

320

Farrier

1,980

2,149

Feed

1,300

895

Physio

350

315

Tack

213

-

Rugs

681

781

Vets

3,406

1,681

Repairs to property

1,091

7,237

Equipment & motor expenses

183

3,188

Show costs

-

71

Professional fees

591

250

Bank charges

60

-

Depreciation

5,363

742

Loss on sale of assets

(2,433

)

891

52,375

51,300

6.	SUPPORT COSTS

Governance costs

£

Riding for the Disabled

1,908

Support costs, included in the above, are as follows:

Governance costs

31.12.18

31.12.17

Riding for the Disabled

Total activities

£

£

Independent examiner's fees

1,908

1,434

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.18

31.12.17

£

£

Depreciation - owned assets

5,363

742

Other operating leases

10,751

10,751

(Surplus)\deficit on disposal of fixed asset

(2,433

)

891

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2018 nor for the year

ended 31 December 2017.

Trustees' expenses

Expenses totalling £177.50 were reimbursed to two Trustees in the year. These expenses related to mileage costs

incurred on behalf of the charity.

9.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.12.18

31.12.17

Stable manager

1

1

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

38,223

Charitable activities

Funraising events

22,030

Investment income

291

Total

60,544

EXPENDITURE ON

Raising funds

4,011

Charitable activities

Riding for the Disabled

52,734

Total

56,745

NET INCOME

3,799

RECONCILIATION OF FUNDS

Total funds brought forward

139,361

TOTAL FUNDS CARRIED FORWARD

143,160

11.	TANGIBLE FIXED ASSETS

Ponies

Plant and machinery

Fixtures and fittings

Tack

Totals

£

£

£

£

£

COST

At 1 January 2018

4,300

4,367

4,246

192

13,105

Additions

3,600

14,380

-

260

18,240

Disposals

-

(1,186

)

-

-

(1,186

)

At 31 December 2018

7,900

17,561

4,246

452

30,159

DEPRECIATION

At 1 January 2018

592

4,047

3,381

182

8,202

Charge for year

1,462

3,660

173

68

5,363

Eliminated on disposal

-

(1,119

)

-

-

(1,119

)

At 31 December 2018

2,054

6,588

3,554

250

12,446

NET BOOK VALUE

At 31 December 2018

5,846

10,973

692

202

17,713

At 31 December 2017

3,708

320

865

10

4,903

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

4,500

-

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Social security and other taxes

653

-

Other creditors

64

-

Accrued expenses

1,859

1,403

2,576

1,403

14.	MOVEMENT IN FUNDS

At 1.1.18

Net movement in funds

At 31.12.18

£

£

£

Unrestricted funds

General fund

53,160

3,634

56,794

Designated capital fund

90,000

-

90,000

143,160

3,634

146,794

TOTAL FUNDS

143,160

3,634

146,794

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

62,180

(58,546

)

3,634

TOTAL FUNDS

62,180

(58,546

)

3,634

Comparatives for movement in funds

At 1.1.17

Net movement in funds

At 31.12.17

£

£

£

Unrestricted Funds

General fund

49,361

3,799

53,160

Designated capital fund

90,000

-

90,000

139,361

3,799

143,160

TOTAL FUNDS

139,361

3,799

143,160

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

60,544

(56,745

)

3,799

TOTAL FUNDS

60,544

(56,745

)

3,799

A current year 12 months and prior year 12 months combined position is as follows:

At 1.1.17

Net movement in funds

At 31.12.18

£

£

£

Unrestricted funds

General fund

49,361

7,433

56,794

Designated capital fund

90,000

-

90,000

TOTAL FUNDS

139,361

7,433

146,794

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

122,724

(115,291

)

7,433

TOTAL FUNDS

122,724

(115,291

)

7,433

15.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2018.

16.

FUNDS

Unrestricted funds comprise a general fund and a designated capital fund. The general fund is the fund which the

Trustees are free to use in accordance with the Charitable objects. The designated fund is a fund created to retain

cash reserves so that there are the financial resources to find an alternative site should the current lease terminate.

Of the total unrestricted reserves the Trustees have designated £90,000 to be retained for this purpose.