Accounts filed on 30-06-2022

HORSES4HOMES FOUNDATION LTD - Company Information


Registered number: 07885005
Charity number: 1152495




Horses4Homes Foundation Limited


UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30/06/2022























Prepared By:
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT


Horses4Homes Foundation Limited


FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30/06/2022





TRUSTEES
C Salter
K Hood
M C Kershaw
P Jinman (resigned 1 April 2022)



SECRETARY
Velocity Company Secretarial Services Limited


REGISTERED OFFICE
Narrow Quay House
Narrow Quay
Bristol
Avon
BS1 4QA


COMPANY NUMBER
07885005

CHARITY NUMBER
1152495



ACCOUNTANTS
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT


ACCOUNTS
FOR THE YEAR ENDED 30/06/2022



CONTENTS



		Page

Report of the Trustees		3

Independent Examiner's Statement		6

Statement of Financial Activities		8

Balance Sheet		9

Notes to the Accounts		10 to 16

Detailed Statement of Financial Activities		15


FOR THEYEARENDED30/06/2022

TRUSTEES' REPORT



The trustees present their report and accounts for theyearended30/06/2022

REPORT OF THE CHAIR

The charity has continued to deliver a reliable rehoming service, supported by our well established rehoming advisors. With the number of horses rehomed the same as in the previous year. The lack of growth in this number can be attributed to a number of factors highlighted in last years report: changes in the demographics and behaviour of horse owners; larger equine welfare charities offering rehoming services and, as reported previously, a number of private providers now offer very similar services, albeit with a far less rigorous system of ensuring that horses are carefully matched to their new owners.

The website needs significant investment which is recognised by the Trustees to make it more 'user friendly', a key recommendation from an external review. Unfortunately, donations from rehoming have not been sufficient to finance this initiative and we also have not had the resource to engage in fund-raising activities. The trustees remain optimistic that the number of horses rehomed each year will remain stable but growth in rehoming numbers is unlikely. Horses4Homes is now well established in the sector and well known to many horse owners and our feedback is that the charity is trusted and valued by those who use our services.

OUR PURPOSES AND ACTIVITIES

Horses4Homes Foundation Limited has the following primary aims:

a) - to promote humane behaviour towards animals, in particular horses, by preventing unnecessary suffering and neglect to horses, in particular but not exclusively, by helping to rehome horses and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and suffering among animals.

b) - to promote and protect the health and wellbeing of people by reducing the significant distress caused by having to rehome an animal for which they are no longer able to care.

ACHIEVEMENTS AND PERFORMANCE

During the year, the charity was able to rehome 10 horses, compared to the previous year when 10 horses were rehomed.

FINANCIAL REVIEW

The charities main source of income is from the rehoming fees charged £2,381 (2021 - £3,440), but donations also form a significant income stream for the charity £4,191 (2021 - £4,731). The total income received by the charity was £6,572 this year, compared to £8,181 last year.

Total expenditure during the year amounted to £6,260 (2021 - £12,506), resulting in a net surplus in the period of £312 (2021 - £4,325 deficit).

As at the end of the year, the cash at bank (unrestricted funds) amounted to £1,018, (2021 - £730) and the monies remaining in the charities various restricted funds accounts amounted to £4 - (2021 - £4).


FOR THEYEARENDED30/06/2022

TRUSTEES' REPORT


REFERENCE AND ADMINISTRATIVE DETAILS

Horses4Homes Foundation Limited is governed by its Articles of Association, which were modiifed in August 2016 to more acurately reflect the activities and procedures followed by the charity.

RISK MANAGEMENT

The trustees have a risk management strategy which comprises an annual review of the principal risks, and uncertainties and the implementation of procedures designed to minimise or manage potential impact on the charity should those risks materialise.

PRINCIPAL ACTIVITIES

The principal activity of the charity in theyearunder review wasre-homing of horses.

STRUCTURE GOVERNANCE AND MANAGEMENT

Horses4Homes Foundation Limited is a registered charity and a company limited by guarantee. The trustees of the charity are also directors for the purposes of the Companies Act. The trustees are responsible for the overall direction and charitable activities of the Horses4Homes Foundation Limited and for ensuring that it complies with the Charity Commission guidance on public benefit.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also directors of Horses4Homes Foundation Limited for the purpose of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Denerally 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 chariatable company 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 in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards 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 imappropriate to presume that the charitable company will continue in operation.

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 which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and 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. This report has been prepared in accordance with the provisions applicable to companies entitled to small comapnies exemption.


FOR THEYEARENDED30/06/2022

TRUSTEES' REPORT


The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.

This report was approved by the Board of Trustees on30/09/2022.




M C Kershaw
Chairman of Trustees


INDEPENDENT EXAMINER'S STATEMENT

FOR THEYEARENDED30/06/2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFHORSES4HOMES FOUNDATION LIMITED

I report on the accounts of the company for theyearended30/06/2022.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

- examine the accounts under section 145 of the 2011 Act;

- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

- state whether particular matters have come to my attention.

.

BASIS OF INDEPENDENT EXAMINERS STATEMENT

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
.

INDEPENDENT EXAMINERS STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

- to keep accounting records in accordance with section 386 of the Companies Act 2006; and

- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.


INDEPENDENT EXAMINER'S STATEMENT

FOR THEYEARENDED30/06/2022

...................................................

Date:30/09/2022


Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT


Statement of Financial Activities
for the year ended30/06/2022

			2022	2021
	Unrestricted funds	Restricted funds	Total	Total
	£	£	£	£

Income
Income from generated funds
Donations and legacies	4,191	-	4,191	4,731
Income from charitable activities	2,381	-	2,381	3,450
Total Income and endowments	6,572	-	6,572	8,181
Expenses
Costs of generating funds
Expenditure on Raised funds	3,541	-	3,541	5,905
Expenditure on Charitable activities	2,719	-	2,719	6,601
Total Expenses	6,260	-	6,260	12,506
Net gains on investments
Net Income	312	-	312	(4,325)

Gains/(losses) on revaluation of fixed assests
Net movement in funds:
Net income for the year	312	-	312	(4,325)
Total funds brought forward	(56,253)	4	(56,249)	(51,924)
Net funds carried forward	(55,941)	4	(55,937)	(56,249)

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities


BALANCE SHEET AT 30/06/2022

			2022		2021
	Notes		£		£

FIXED ASSETS
Tangible assets	3		-		-

CURRENT ASSETS
Stock		160		160
Debtors (amounts falling due within one year)	5	3,574		2,949
Cash at bank and in hand		1,012		734
		4,746		3,843
CREDITORS: Amounts falling due within one year	6	1,020		1,020
NET CURRENT ASSETS			3,726		2,823
TOTAL ASSETS LESS CURRENT LIABILITIES			3,726		2,823


CREDITORS: Amounts falling due after more than one year	7		59,663		59,072

NET LIABILITIES			(55,937)		(56,249)

CAPITAL AND RESERVES

Unrestricted funds	9
General fund			(55,941)		(56,253)
Restricted funds	10		4		4
			(55,937)		(56,249)

For the year ending 30/06/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board of trustees on 30/09/2022 and signed on their behalf by



.............................
M C Kershaw
Trustee


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/06/2022

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.




1b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditinally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.




1c. Resources Expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurrred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.




1d. Allocation And Apportionment Of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.




1e. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.




1f. Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis: Plant and machinery 25% straight line




1g. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1h. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisifed; - the amount of turnover can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Turnover from the sale of goods is recognised when all of the following conditions are satisfied: a) the Company has transferred the significant risks and rewards of ownership to the buyer; b) the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; c) the amount of turnover can be measured reliably; d) it is probable that the Company will receive the consideration due under the transaction; and e) the costs incurred or to be incurred in respect of the transaction can be measured reliably.




1i. Functional Currency
The functional currency of the company is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling.
Monetary amounts in these financial statements are rounded to the nearest £.




2. EMPLOYEES

	2022	2021
	No.	No.
Average number of employees	1	1




3. TANGIBLE FIXED ASSETS

	Plant and
	Machinery	Total
	£	£
Cost
At 01/07/2021	2,550	2,550
At 30/06/2022	2,550	2,550
Depreciation
At 01/07/2021	2,550	2,550
At 30/06/2022	2,550	2,550
Net Book Amounts
At 30/06/2022	-	-




4. STOCK	2022	2021
	£	£
Stock comprises:

Stock	160	160
	160	160




5. DEBTORS	2022	2021
	£	£

Amounts falling due within one year:
Other debtors	3,574	2,949
	3,574	2,949




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2022	2021
	£	£
Other creditors	1,020	1,020
	1,020	1,020




7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2022	2021
	£	£
Other creditors	59,663	59,072
	59,663	59,072

Full terms have yet to be agreed for the outstanding long term loans.




8. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £10, to the company should it be wound up. At 30/06/2022 there were 3 members.




9. UNRESTRICTED FUNDS


	Brought forward	Incoming resources	Outgoing resources	Transfers	Carried forward
	£	£	£	£	£
General fund	(56,253)	6,572	(6,260)	-	(55,941)
	(56,253)	6,572	(6,260)	-	(55,941)




10. RESTRICTED FUNDS


	Brought forward	Incoming resources	Outgoing resources	Transfers	Carried forward
	£	£	£	£	£
British Equestrian Federation Grant	4	-	-	-	4
	4	-	-	-	4

British Equestrian Federation Grant
Restricted funds to be used to promote horse sharing




11. GENERAL INFORMATION
The charity is a private company limited by guarantee, registered in England and Wales (company number 07885005) and a registered charity in England and Wales (charity number 1152495). The address of the registered office is Narrow Quay House, Narrow Quay, Bristol, Avon BS1 4QA.




12. TAXATION
The charity's activities fall within the exemptions afforded by the provision of Income and Corporation Taxes Act 1988. Accordingly there is no taxation charge in the accounts.


Incoming Resources
for the year ended30/06/2022

		2022		2021

		£		£

Incoming resources
Incoming resources from generated funds
Donations
Voluntary Income 1	4,191		4,731
		4,191		4,731

		4,191		4,731
Charitable Activity
From Charitable Activities 1	2,381		3,440
From Charitable Activities 3	-		10
		2,381		3,450

		2,381		3,450
		6,572		8,181


Expenses
for the year ended30/06/2022

	2022	2021

	£	£

Expenses
Costs of generating funds
Costs Of Generating Voluntary Income
Subcontractors	3,541	5,905
	3,541	5,905

	3,541	5,905
Charitable Activities
Rehoming of horses
Resources Expended Charitable Activities 5	-	37
Insurance	860	831
Computer costs	384	2,490
Accountancy fees	450	1,500
Legal costs (revenue)	240	960
Subscriptions	35	160
Card charges	135	38
Other interest	591	585
Sundry expenses	24	-
	2,719	6,601









	6,260	12,506