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Registered number: 05706817
Charity number: 1116027
EBONY HORSE CLUB
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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EBONY HORSE CLUB
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the charity, its Trustees and advisers
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Independent examiner's report
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Statement of financial activities
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Notes to the financial statements
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EBONY HORSE CLUB
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2020
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Susan Margrethe Collins, Chair
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Company registered number
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Charity registered number
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51 Millbrook Road
London
SW9 7JD
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Business and Funding Manager
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Maxwell & Co
Registered Accountants and Registered Auditors
9 Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT
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CAF Bank
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
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EBONY HORSE CLUB
(A company limited by guarantee)
PRESIDENT & PATRONS
AS AT 31 MARCH 2020
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HRH The Duchess of Cornwall has been President since 2011. In July 2020, she held a reception for the charity at Clarence House. 60 guests, many of whom represented trusts and foundations who support EHC, attended the event.
Ronke Phillips is Senior Correspondent for ITV News, London. Her work with and understanding of the BAME community is a valued asset to EHC.
Charlotte Steel is a former member of GB Eventing Team. Her access to the wider equine community provides fundraising and practical opportunities to the club.
Oli Bell is ITV Racing Presenter. His knowledge of the Horse Racing industry resulted in Khadijah Mellah being invited to train and participate in the Magnolia Cup 2019.
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EBONY HORSE CLUB
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2020
The Trustees present their annual report together with the financial statements of the Ebony Horse Club for the year 1 April 2019 to 31 March 2020. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective January 2015).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Objectives
Ebony Horse Club objectives are to provide children and young people living in Brixton with opportunities through access to horses and related activities. Their purpose is to improve wellbeing and future outcomes by teaching life skills through a structured mentoring programme. In setting objectives, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
c. Activities undertaken to achieve objectives
Ebony Horse Club has been operating as a community riding centre in its current premises since 2011. There is stabling for nine horses, two turnout paddocks, a floodlit arena and classroom and office space sited in three converted railway arches. The centre is sited in the Coldharbour Ward of Brixton where children and young people face the challenge of growing up in an area of high inequality. It provides a place of calm positivity where children can feel safe and flourish in terms of their physical and mental wellbeing. The skills they develop and are able to take back to their lives at home and school include empathy, confidence, responsibility and respect.
The staff team ensure that every young person is provided with resources to thrive. The equine staff work in tandem with the youth team, assisting members to achieve their individual goals. EHC continues its partnership with Building Young Brixton, a consortium of nine Lambeth based youth charities with an overall reach of 1200 local children and young people per year. This collaborative approach provides opportunities to identify and engage with those in the community most in need of support. The Brixton Riders programme is an example of this joint initiative.
This year, the club has welcomed an average of 140 young people to the centre every week and taught over 400 individuals to ride and learn about horse care. Established relationships have continued with eight local schools including two primary schools, a state secondary, a Pupil Referral Unit and two schools working with young people with SEND.
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EBONY HORSE CLUB
(A company limited by guarantee)
Objectives and activities (continued)
d. Main activities undertaken to further the charity's purposes for the public benefit
Summary of our activities from April 2019 to March 2020
Activities at the centre have developed alongside an enhanced evaluation system to monitor young people’s progress. In addition to the regular riding and stable management sessions, the club has been able to extend visits to relevant events and equine establishments and increase residential trips. These trips are made possible by a range of generous supporters who recognise the value to inner city children of experiencing new opportunities outside their own environment.
• In April 2020, 10 young people went on EHC’s first international trip to Sweden as part of an ERASMUS unded exchange.
• 12 members enjoyed our annual five-day pony trekking trip to the Brecon Beacons sponsored by the Worshipful Company of Loriners.
• Eight members and all our horses stayed at Hurlands Farm in Surrey for our second summer residential trip by kind invitation of Bob and Mia Lees. During the week, a further 30 children visited the farm for day trips.
• Members were also invited to attend high profile equine events such as Badminton Horse Trials, The Grand National, the Hickstead All England Showground and the Gold Cup at Windsor Polo Club
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This year EHC has also been able to increase opportunities for young riders to develop ambitions by taking part in external competitions.
• Eight riders had their first taste of competitive riding at the Hampshire Hunt Show and Civil Service Riding Club show in Hyde Park.
• Four members joined the Pony Racing programme, funded partly through the Pony Racing Authority and The Racing Foundation in partnership with Park Lane Stables. One 14-year-old boy came home first in his debut race at Ascot.
• Polo teams were formed to compete at an exhibition match at the Royal Windsor Cup working in collaboration with Power of Polo and at Ham Polo Club during EHC’s annual fundraiser.
• 18-year-old, Khadijah Mellah was invited by the British Racing Authority to train and take part in the Magnolia Cup at Goodwood Racecourse. Against all odds, she won. She was cheered over the finishing line by a group of her fellow Brixton riders and the documentary about her journey, Riding a Dream, produced by our patron, Oli Bell, was seen by over 1million people when it aired on ITV.
e. Media exposure and award
The club recognises the benefits of carefully managed media exposure, which attracts support from the public in a variety of forms. Requests from print, on line and broadcast outlets about the wider work of the club increased considerably and resulted in several feature articles in mainstream and equine press. The club’s work was also highlighted in two high profile BBC programmes
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• BBC’s Inside Out investigative magazine programme featured an item about the club broadcast in March 2020.
• EHC were invited to train a Blue Peter presenter to take part in a challenge for Sports Relief.
∙Our instructors taught her to ride and complete a show jumping course in just six weeks on one of our horses.
EHC was nominated for two prestigious awards to celebrate the work they are doing with young people:
• The London Sports Awards.
• British Ethnic Diversity in Sport Awards.
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EBONY HORSE CLUB
(A company limited by guarantee)
Objectives and activities (continued)
f. Ebony Horse Club and beyond
As the club enters its ninth year of operating the Wyck Gardens centre, many success stories are emerging from young people whose time with the club has led to improved outcomes
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• A 16-year-old supported to gain a place at Hartpury College after her GCSEs
• A former member graduating from Writtle University College with a degree in Business and Equine studies.
• Two alumni continuing their work in prestigious racing venues in Newmarket.
• Other alumni flourishing in non-equine roles and studies as diverse as engineering, paramedic studies and theatre.
COVID 19
In the final week of March 2020, Ebony Horse Club was forced to close their premises and send the horses out to grass due to the COVID 19 outbreak. Immediate plans were put in place to continue delivering a virtual service and to support families and young people during this global crisis as well as addressing funding issues to ensure the long-term stability of the club.
Financial summary
The Trustees of Ebony Horse Club are pleased to report that it has finished the year on a surplus of £79,909. This is approximately £30k less than the previous year (2019: £108,964). Overall, income earned from fundraising, events and riding income was down 2% compared with prior year (£494k), with an increase of 4% in total expenditure compared with prior year (£385k). The continued disciplined approach to managing the cost base, along with successful fundraising through trusts and foundations as well as private individuals, has allowed the club to invest surplus funds in areas that further its objectives. Key investments during the year include purchase of laptops for staff so they can work more efficiently, resurfacing of the woodchip paddock and an increase in activities and support for the young people. The club has closed the year with a net asset position (£1,075k) that is 8% higher than prior year (£995k).
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the charity that unrestricted funds should be maintained at a level of between 3 and 6 months expenditure.
Structure, governance and management
a. Constitution
Ebony Horse Club is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
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EBONY HORSE CLUB
(A company limited by guarantee)
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charity 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 Practice).
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 charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 27 July 2020 and signed on their behalf by:
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EBONY HORSE CLUB
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2020
Independent examiner's report to the Trustees of Ebony Horse Club ('the charity')
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I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2020.
Responsibilities and basis of report
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As the Trustees of the charity (and 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 charity 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 the charity's accounts 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
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Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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)].
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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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
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EBONY HORSE CLUB
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
Signed: Dated: 27 July 2020
Benjamin Maxwell Chartered Accountant
9 Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT
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EBONY HORSE CLUB
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2020
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Riding fees and other income
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Total funds brought forward
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 13 to 28 form part of these financial statements.
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EBONY HORSE CLUB
(A company limited by guarantee)
REGISTERED NUMBER: 05706817
BALANCE SHEET
AS AT 31 MARCH 2020
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Net assets excluding pension asset
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The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 27 July 2020 and signed on their behalf by:
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EBONY HORSE CLUB
(A company limited by guarantee)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2020
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The notes on pages 13 to 28 form part of these financial statements.
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EBONY HORSE CLUB
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2020
Cash flows from operating activities
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Net cash used in operating activities
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Cash flows from investing activities
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Proceeds from the sale of tangible fixed assets
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Purchase of tangible fixed assets
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Net cash used in investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Change in cash and cash equivalents in the year
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Cash and cash equivalents at the beginning of the year
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Cash and cash equivalents at the end of the year
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The notes on pages 13 to 28 form part of these financial statements
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Ebony Horse Club is a private company limited by guarantee domiciled in England and Wales.The registered office is at 51 Millbrook Road London SW9 7JD.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Ebony Horse Club meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.Accounting policies (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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.
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Tangible fixed assets and depreciation
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Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
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Short-term leasehold property
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Over the period of the lease
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Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.Accounting policies (continued)
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Liabilities and provisions
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Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Income from donations and grants
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Grants and donations - unrestricted
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Margaret Giffen Charitable Trust
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The Charterhouse Charitable Trust
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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London Borough of Lambeth
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The Worship Company of Loriners
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Investment income - local cash
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Investment income - local cash
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Expenditure on raising funds
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Costs of raising voluntary income
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Costs of events raising income
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Costs of raising voluntary income (continued)
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Costs of events raising income
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Riding Stables - Direct Costs
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Loss (profit) on disposal of fixed assets
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Staff training and recruitmennt
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Printing, postage and stationery
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Riding Stables - Direct Costs - Allocation
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Loss on disposal of fixed assets
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Staff training and recruitment
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Printing, postage and stationery
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Independent examiner's remuneration
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Fees payable to the charity's independent examiner for the independent examination of the charity's annual accounts
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Overprovision of fees in the previous period
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Contribution to defined contribution pension schemes
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The average number of persons employed by the charity during the year was as follows:
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Operational and administration staff
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No employee received remuneration amounting to more than £60,000 in either year.
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Trustees' remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
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During the year ended 31 March 2020, no Trustee expenses have been incurred (2019 - £NIL).
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Short-term leasehold property
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EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
14.Tangible fixed assets (continued)
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Short-term leasehold property
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Prepayments and accrued income
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|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
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Creditors: Amounts falling due within one year
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Accruals and deferred income
|
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Deferred income at 1 April 2019
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Resources deferred during the year
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Amounts released from previous periods
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Creditors: Amounts falling due after more than one year
|
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The loan is interest free and repayable over 24 equal monthly instalments commencing April 2021.
|
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|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
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|
Statement of funds - current year
|
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Balance at 1 April 2019
£
|
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Balance at 31 March 2020
£
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|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
|
|
Statement of funds (continued)
|
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Statement of funds - prior year
|
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Balance at
1 April 2018
£
|
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Balance at
31 March 2019
£
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Summary of funds - current year
|
|
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Balance at 1 April 2019
£
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Balance at 31 March 2020
£
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Summary of funds - prior year
|
|
|
|
|
Balance at
1 April 2018
£
|
|
|
Balance at
31 March 2019
£
|
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|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
|
|
Analysis of net assets between funds
|
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Analysis of net assets between funds - current period
|
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Creditors due within one year
|
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Creditors due in more than one year
|
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|
Analysis of net assets between funds - prior period
|
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Creditors due within one year
|
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Creditors due in more than one year
|
|
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|
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|
|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
|
Reconciliation of net movement in funds to net cash flow from operating activities
|
|
|
|
|
|
|
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|
|
Net income for the period (as per Statement of Financial Activities)
|
|
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|
|
Loss on sale of fixed assets
|
|
|
|
|
Decrease/(increase) in debtors
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
|
Analysis of cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £3,709 (2019 - £2,395).There were no funds payable to the fund at the balance sheet (2019 - £nil)
|
|
EBONY HORSE CLUB
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
|
|
Operating lease commitments
|
|
|
At 31 March 2020 the charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|
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Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £NIL for the debts and liabilities contracted before he/she ceases to be a member.
|
|
Post balance sheet events
|
In April 2020 the Trustees resolved to repay at least 50% (£15,000) of the loan from Lambeth Borough Council by September 2020.
|
