REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2023 |
for |
THE UIST COMMUNITY RIDING SCHOOL |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 June 2023 |
for |
THE UIST COMMUNITY RIDING SCHOOL |
THE UIST COMMUNITY RIDING SCHOOL |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 14 |
THE UIST COMMUNITY RIDING SCHOOL (REGISTERED NUMBER: SC187242) |
Report of the Trustees |
for the Year Ended 30 June 2023 |
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 30 June 2023. 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Creating and sustaining a unique, community led, focal point, in an equine centred leaning environment dedicated to the needs of the community and tourists, through the provision of recreational activities and nationally recognised qualifications. |
Volunteers |
The Board would like to thank all those who have freely given their time during the year to help sustain the objectives and aims of the Riding School. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Uist Community Riding School aims to promote healthier lifestyles and life choices by providing an all-weather, all-year, all-ability, all-age equine sports and educational facility. We encourage non-elitist social engagement with the local community and promote riding as a worthwhile sport. We utilise the powerful benefits of therapeutic interaction with horses as a valuable element in confidence, health, learning, communication and self-esteem. |
FINANCIAL REVIEW |
Principal funding sources |
The year to end June 2023 has been an encouraging year with our new yard manager taking the helm to promote and enhance the club which in turn has assisted us in gaining new and returnee riders, of all ages and abilities, whom many of which are becoming regulars. This has resulted in us being able to maximise revenue opportunities with a welcomed increase in trade which has been aided also by the increasing amount of visitors to the Island using our facilities. |
This year has not gone by without its challenges mainly due to the weather conditions we have experienced resulting in us not being able to utilise the outdoors or the school for part of year up until the roof was replace in November 2022. We are grateful to all who assist us in getting to the stage of being able to fully replace our school roof just in time for heading into winter. |
The increase in running costs, mainly down to the surge in energy prices, along with the associated costs of ensuring the welfare of our horses have impacted our finances with our expenditure increasing, resulting in our increase in trade supplementing this. We have been fortunate to have gained both restricted and unrestricted grants to assist with the running of the club along with many improvements being made to the yard. The Committee take every opportunity to reduce costs ensuring budgets are adhered to. |
The local community are always supportive of the club, in many different ways, which we as a Committee are very grateful for. |
Reserves policy |
The Trustee's keep the level of reserves under constant review, and are actively seeking funding opportunities. A tighter control of income and expenditure has been put in place. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Related parties |
East Camp Trust is a related party. |
THE UIST COMMUNITY RIDING SCHOOL (REGISTERED NUMBER: SC187242) |
Report of the Trustees |
for the Year Ended 30 June 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The Uist Community Riding School |
I report on the accounts for the year ended 30 June 2023 set out on pages four to fourteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 I do not express an audit opinion on the view given by the accounts. |
Independent examiner's 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 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
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. |
John E Moffat BA FCA |
The Institute of Chartered Accountants in England and Wales |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
27 March 2024 |
THE UIST COMMUNITY RIDING SCHOOL |
Statement of Financial Activities |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 13 | 7,336 | (7,336 | ) | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 101,685 |
THE UIST COMMUNITY RIDING SCHOOL (REGISTERED NUMBER: SC187242) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 38,906 |
Restricted funds | 62,779 |
TOTAL FUNDS | 101,685 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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. |
THE UIST COMMUNITY RIDING SCHOOL (REGISTERED NUMBER: SC187242) |
Balance Sheet - continued |
30 June 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
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 2019)', 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. |
Freehold property | - |
Plant and machinery | - |
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. |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | DONATIONS AND LEGACIES |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Membership fees | 500 | - |
Donations | 409 | 2,050 |
Other income | 24,471 | - |
25,380 | 2,050 |
3. | OTHER TRADING ACTIVITIES |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Sale of Livery | 9,053 | - |
Shop & Eriskay Pony Society | 382 | - | 382 | 445 |
9,435 | - |
4. | INVESTMENT INCOME |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Rents received | 12,304 | - |
Deposit account interest | 25 | - |
12,329 | - |
5. | INCOME FROM CHARITABLE ACTIVITIES |
30.6.23 | 30.6.22 |
Activity | £ | £ |
Riding lessons | Operation of a riding school | 32,544 | 31,536 |
Grants | Operation of a riding school | 3,500 | 51,005 |
Grants received, included in the above, are as follows: |
30.6.23 | 30.6.22 |
£ | £ |
Comhairle nan Eilean Siar | - | 2,000 |
Visit Scotland | - | 6,800 |
Western Isles Development Trust | 1,000 | 2,000 |
Ucvo | - | 9,162 |
Uist & Barra Sports | - | 1,793 |
Arnold Clark | - | 1,000 |
Bruce Wake Foundation | - | 2,000 |
Caledonian MacBrayne | 2,000 | 1,400 |
Chance to Flourish | - | 1,500 |
Carried forward | 3,000 | 27,655 |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | INCOME FROM CHARITABLE ACTIVITIES - continued |
30.6.23 | 30.6.22 |
£ | £ |
Brought forward | 3,000 | 27,655 |
Scottish Salmon | - | 250 |
NHS Western Isles | - | 15,000 |
Foundation Scotland | - | 5,000 |
WJM | - | 2,000 |
Alpkit | - | 100 |
Tesco | - | 500 |
Sealladh na Beinne | - | 500 |
Scottish Childrens Charity | 500 | - |
3,500 | 51,005 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.6.23 | 30.6.22 |
£ | £ |
Depreciation - owned assets |
Surplus on disposal of fixed assets | ( |
) | ( |
) |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
8. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
30.6.23 | 30.6.22 |
Riding school staff |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 40,262 | 24,740 |
TOTAL FUNDS CARRIED FORWARD | 38,905 | 62,780 | 101,685 |
10. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade creditors |
Accrued expenses |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.7.22 | in funds | funds | 30.6.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 38,906 | (1,565 | ) | (3,489 | ) | 33,852 |
Designated Fund - Contingency Fund | - | - | 5,000 | 5,000 |
Designated Fund - Maintenance Fund | - | (2,174 | ) | 5,825 | 3,651 |
(3,739 | ) |
Restricted funds |
Restricted | 25,730 | (4,048 | ) | (6,719 | ) | 14,963 |
SRUC | 2,767 | (255 | ) | (617 | ) | 1,895 |
MOWI | 110 | - | - | 110 |
Marine & Outdoor Tourism Restart Fund | 9,275 | (965 | ) | - | 8,310 |
Roof fund | 24,897 | 1,400 | - | 26,297 |
(3,868 | ) | ( |
) |
TOTAL FUNDS | (7,607 | ) | 94,078 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 81,038 | (82,603 | ) | (1,565 | ) |
Designated Fund - Maintenance Fund | - | (2,174 | ) | (2,174 | ) |
( |
) | (3,739 | ) |
Restricted funds |
Restricted | 2,501 | (6,549 | ) | (4,048 | ) |
SRUC | - | (255 | ) | (255 | ) |
Marine & Outdoor Tourism Restart Fund | - | (965 | ) | (965 | ) |
Roof fund | 2,049 | (649 | ) | 1,400 |
( |
) | (3,868 | ) |
TOTAL FUNDS | ( |
) | (7,607 | ) |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.21 | in funds | 30.6.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 40,262 | (1,356 | ) | 38,906 |
Restricted funds |
Restricted | 12,847 | 12,883 | 25,730 |
Co-op Youth work and training | 1,039 | (1,039 | ) | - |
SRUC | 5,000 | (2,233 | ) | 2,767 |
MOWI | 110 | - | 110 |
Marine & Outdoor Tourism Restart Fund | 4,800 | 4,475 | 9,275 |
Roof fund | 944 | 23,953 | 24,897 |
24,740 | 38,039 | 62,779 |
TOTAL FUNDS | 65,002 | 36,683 | 101,685 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 67,259 | (68,615 | ) | (1,356 | ) |
Restricted funds |
Restricted | 20,205 | (7,322 | ) | 12,883 |
Co-op Youth work and training | - | (1,039 | ) | (1,039 | ) |
SRUC | - | (2,233 | ) | (2,233 | ) |
Marine & Outdoor Tourism Restart Fund | 6,800 | (2,325 | ) | 4,475 |
Roof fund | 24,433 | (480 | ) | 23,953 |
51,438 | (13,399 | ) | 38,039 |
TOTAL FUNDS | 118,697 | (82,014 | ) | 36,683 |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.7.21 | in funds | funds | 30.6.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 40,262 | (2,921 | ) | (3,489 | ) | 33,852 |
Designated Fund - Contingency Fund | - | - | 5,000 | 5,000 |
Designated Fund - Maintenance Fund | - | (2,174 | ) | 5,825 | 3,651 |
40,262 | (5,095 | ) | 7,336 | 42,503 |
Restricted funds |
Restricted | 12,847 | 8,835 | (6,719 | ) | 14,963 |
Co-op Youth work and training | 1,039 | (1,039 | ) | - | - |
SRUC | 5,000 | (2,488 | ) | (617 | ) | 1,895 |
MOWI | 110 | - | - | 110 |
Marine & Outdoor Tourism Restart Fund | 4,800 | 3,510 | - | 8,310 |
Roof fund | 944 | 25,353 | - | 26,297 |
24,740 | 34,171 | (7,336 | ) | 51,575 |
TOTAL FUNDS | 65,002 | 29,076 | - | 94,078 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 148,297 | (151,218 | ) | (2,921 | ) |
Designated Fund - Maintenance Fund | - | (2,174 | ) | (2,174 | ) |
148,297 | (153,392 | ) | (5,095 | ) |
Restricted funds |
Restricted | 22,706 | (13,871 | ) | 8,835 |
Co-op Youth work and training | - | (1,039 | ) | (1,039 | ) |
SRUC | - | (2,488 | ) | (2,488 | ) |
Marine & Outdoor Tourism Restart Fund | 6,800 | (3,290 | ) | 3,510 |
Roof fund | 26,482 | (1,129 | ) | 25,353 |
55,988 | (21,817 | ) | 34,171 |
TOTAL FUNDS | 204,285 | (175,209 | ) | 29,076 |
Transfers between funds |
During the year the Trustees set up a Designated Contingency Fund for emergencies and a Designated Maintenance Fund for necessary repairs. |
THE UIST COMMUNITY RIDING SCHOOL |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
14. | RELATED PARTY DISCLOSURES |