Charity registration number 1141360
Company registration number 07523120 (England and Wales)
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs A Barlow MBE
Mrs C M Towers
Mr B Mitchell
Mrs S Taylor
Mrs J Doughty
Ms V Griffiths
Charity number
1141360
Company number
07523120
Registered office
Grove House
Station Road
Grove
Wantage
Oxfordshire
OX12 7PF
Independent examiner
Chapman Worth Limited
2 The Old Estate Yard
High Street
East Hendred
Wantage
Oxfordshire
OX12 8JY
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Statement of financial position
7 - 8
Notes to the financial statements
9 - 17
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objects are to provide horse riding activities for disabled people from its present premises and to continue to raise funds in support of those activities. The policies adopted in furtherance of these objects are to continue to have the support of both paid staff and volunteer helpers and there has been no change in these during the year.

Public Benefit Statement

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.

 

During the year, Riding for Disabled Association Abingdon Ltd has carried out its duty with regard to the objectives of the charity and to public benefit.

Achievements and performance

April saw two major fundraising events – the Food Fair at the Loyd Lyndsey rooms in Ardington, and the Plant Sale at our Centre.  These are two of our biggest fundraising events, and both Sarah Ellis, and Sarah Wilkinson are to be congratulated and thanked for the enormous amount of work they put into these two events, both of which involve many months of preparation.

May, once again saw the Abingdon Group take a record number of our riders to compete in the South Region Show – also the qualifier for the National Championships in July.  As ever the riders all did exceptionally well, and the coaches concerned are to be thanked for the enormous amount of work they put into this event.  Many riders qualified for the Championships. We also marked the King’s coronation with a volunteer day that saw an enormous tidy up and despite the weather, lots of jobs like creosoting the new fence posts completed. A very welcome BBQ was organised by Sue Allen – many thanks to her and her family for this.

June saw the return of our Yard Manager, Iris, from maternity leave. It was great the see her back with Freddie now 6 months old.  Many thanks went to Jennie Haynes for standing in as Manager, whilst Iris was away.  For those going to the Nationals in July, June was a month of hard work for both the riders and the horses, and of course, the Coaches and volunteers involved.

July was taken up with our normal classes, and the Championships in the middle of the month.  Our riders and horses excelled themselves once again and came home with many rosettes and trophies.  Very many thanks go to the Coaches and volunteers, many of whom stayed at Hartpury for the long weekend, and others who drove up for the day, leaving at 6 in the morning.

August is a month when many riders and volunteers are on holiday, and the Centre is quite quiet.

September was busy month for the Group.  The month started with our annual Fun Day for the younger children, who had a wonderful time, riding first in gymkhana, followed by countryside challenge, and then stable management.  It is a day when parents, grandparents and friends come and see what the children have achieved over the year, and to watch them revel in the sport that they all love so much.  Our thanks go to Mel Charles and her great team of Volunteers, who work so hard to make this day such a day of achievement and fun.   After the prize giving everyone enjoyed a picnic lunch together.

 

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

Our stall at the Badminton Horse Trials, again involved a huge amount of work for those setting it up and running it for the 3 days.  We were also responsible for the Bag Drop area, where the public were able to drop their shopping off and pay for us to look after it for the day – a relatively easy way of making a bob or two.   Once the Horse Trials were over, we moved straight into the final organisation for our annual Sponsored Ride, which always takes place at Blenheim on the Friday after the Horse Trials.   This again takes an enormous amount of work for months before hand, and our very grateful thanks go to Sue Taylor and her amazing team, some of whom have been stewarding for many years.  This year was a record year for the number of riders, some of whom come many miles to join a ride that they love.

October saw a major project to install a new electricity cable. Many thanks go to both Josh and Iris for putting in long hours to see this completed. We also held our first Bingo evening in the new arena and though many people helped, thanks must go to Nikki Busby and her father for their incredible organisation and enthusiasm on the night.

 

November was a quiet month where everyone tries to get used to the idea of winter, and what it will bring, and then in December there is the excitement of Christmas.  Our annual Christmas Party for the younger children was much enjoyed and our thanks go to Angy Irvin for organising a lovely afternoon with games and lovely things to eat. Our annual Carol Singing in the small indoor school, was as usual a great start to the Christmas Festivities.  Some of the ponies were also present, and seemed to enjoy our wonderful brass band, who have been coming for years.  Mince pies and mulled wine were much enjoyed. Also to be enjoyed was the fabulous new tarmac driveway and parking area– thanks to Vanessa for getting this for us. It has made such a difference. Also making a difference to our land and buildings have been the Green Gym and community days from Infinium ably managed by Joyce Doughty.

January, February, and March are months when most of the time everything happens inside.  Thankfully we are so lucky to have two indoor schools, thus allowing everything to continue as normal, and with as few cancellations as possible – winter ice and deep snow, are usually the only reasons. This quiet time provided an excellent opportunity to have a ‘volunteers’ training week’ to ensure best practice was shared and demonstrated to every class. Thanks go to Iris and Karen for organising and presenting this week and for the time they put in.

During the course of the year we have gained a wonderful new horse – Lisa, and also a small pony -Daisy who is loved by all the little children.  George came to us on loan for a short time, but didn’t really enjoy the work, so he went home, and we unfortunately had to say goodbye to Bill due to injury.  Our much-loved Jim Bob went into retirement to keep a small pony company and is very happy and looking extremely well.  Otherwise, all our horses and ponies remained the same.

Gwen Bayliss, after very many years of service to our Group, and years of coaching, decided it was time to retire.  Many, many children have a huge amount to thank Gwen for – she was a wonderful coach who gave her all to everyone she had contact with and made everything fun for all.  We are so pleased that she continues to run her cake stall at the Standlake Village Hall monthly sale, the proceeds of which come to our Group.  This has been going on for many years, and we are very grateful to her and her band of helpers.

Mel Appleford, our Treasurer for several years, moved to Dorset. We would like to thank Mel very much for her time with us and wish her all the best.  Victoria Griffiths very kindly took on the role of Treasurer, for which we are extremely grateful.

As ever we remain extremely grateful to all our wonderful volunteers, who come every week, some from miles away.  Without them and our staff, coaches and fabulous horses and ponies, our disabled riders would not get the enormous benefit of horse riding, which in turn brings many strengths to their lives.

 

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Financial review

Unrestricted donations have decreased from £125,254 to £83,180 and there have been no restricted donations during the course of the year.

None of our unrestricted funds have been designated for a specific purpose. Our reserves policy is to maintain readily available funds at a level equivalent to eighteen months expenditure. Readily available funds this year exceed this amount by £149,175.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Structure, governance and management

The charity is also a company limited by guarantee. The governing documents are the Memorandum and Articles of Association, dated February 2011.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs A Barlow MBE
Mrs C M Towers
Mr W R Jestico
(Resigned 6 April 2023)
Mr B Mitchell
Mrs S Taylor
Mrs S Wakem
(Resigned 25 September 2023)
Mrs J Doughty
Mrs S Chowns
(Resigned 17 April 2023)
Ms A Summersbee
(Resigned 25 September 2023)
Ms I Collins-Davis
(Resigned 25 September 2023)
Ms V Griffiths

Appointment of new trustees is based on knowledge and suitability, and confirmed at special or annual general meetings.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

..............................
Mrs A Barlow MBE
Trustee
Dated: .........................
2024-08-29
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
- 5 -

I report on the financial statements of the charity for the year ended 31 March 2024, which are set out on pages 6 to 17.

Respective responsibilities of trustees and examiner

The charity’s trustees, who are also the directors of Riding for Disabled Association Abingdon Limited for the purposes of company law, are responsible for the preparation of the financial statements. 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 audit under company law and is eligible for independent examination, it is my responsibility to:

(i)

examine the financial statements under section 145 of the 2011 Act;

(ii)
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
(iii)
to state whether particular matters have come to my attention.
Basis of independent examiner's report

My examination was carried out in accordance with the 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

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

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

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

(ii)

to prepare financial statements 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
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

A Chapman FCA
Chapman Worth Limited
2 The Old Estate Yard
High Street
East Hendred
Wantage
Oxfordshire
OX12 8JY
Dated: .........................
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
83,180
-
83,180
125,424
1,800
127,224
Charitable activities
3
48,049
-
48,049
41,557
-
41,557
Other trading activities
4
13,810
-
13,810
21,921
-
21,921
Investments
5
2,208
-
2,208
670
-
670
Total income
147,247
-
147,247
189,572
1,800
191,372
Expenditure on:
Raising funds
6
1,437
-
1,437
477
-
477
Charitable activities
7
158,526
-
158,526
129,971
1,800
131,771
Other expenditure
11
45,666
-
45,666
-
-
-
Total expenditure
205,629
-
205,629
130,448
1,800
132,248
Net income/(expenditure) and movement in funds
(58,382)
-
(58,382)
59,124
-
59,124
Reconciliation of funds:
Fund balances at 1 April 2023
514,001
2,000
516,001
454,877
2,000
456,877
Fund balances at 31 March 2024
455,619
2,000
457,619
514,001
2,000
516,001

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

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
394,778
433,088
Current assets
Debtors
14
5,188
1,943
Cash at bank and in hand
80,990
101,910
86,178
103,853
Creditors: amounts falling due within one year
16
(23,337)
(15,940)
Net current assets
62,841
87,913
Total assets less current liabilities
457,619
521,001
Creditors: amounts falling due after more than one year
17
-
(5,000)
Net assets excluding pension liability
457,619
516,001
Net assets
457,619
516,001
The funds of the charity
Restricted income funds
18
2,000
2,000
Unrestricted funds
455,619
514,001
457,619
516,001

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 8 -
The financial statements were approved by the trustees on .........................
2024-08-29
..............................
Mrs A Barlow MBE
Trustee
Company registration number 07523120 (England and Wales)
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
1
Accounting policies
Charity information

Riding for Disabled Association Abingdon Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Grove House, Station Road, Grove, Wantage, Oxfordshire, OX12 7PF. The registered office address is Grove House, Station Road, Grove, Wantage OX12 7PF. The company is also registered with the Charities Commission for England and Wales.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.3
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 10 -
1.4
Resources expended

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 are allocated on the portion of the asset’s use.

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to do so.

 

Charitable activities include expenditure associated with meeting its charitable objectives. This includes the cost of grant making, and direct provision of charitable services.

 

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property
2% straight line
Vehicles & equipment
10% reducing balance
Ponies
0% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 11 -
1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Donations and legacies
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£
£
£
£
Donations and gifts
41,888
-
41,888
94,899
Grants
41,292
-
41,292
32,325
83,180
-
83,180
127,224
For the year ended 31 March 2023
125,424
1,800
127,224
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Riding fees

Sales within charitable activities

48,049
41,557
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
13,810
21,921
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
2,208
670
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
6

Raising funds

2024
2023
£
£
Fundraising and publicity
Other fundraising costs
1,437
477
1,437
477
For the year ended 31 March 2023
Fundraising and publicity
477
7
Expenditure on charitable activities
Charitable activities
Charitable activities
2024
2023
£
£
Direct costs

Charitable expenditure

105,901
94,966
Share of support and governance costs (see note 8)
Support
51,607
35,620
Governance
1,018
1,185
158,526
131,771
Analysis by fund
Unrestricted funds
158,526
129,971
Restricted funds
-
1,800
158,526
131,771
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
8
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Utilities

3,341
-
3,341
1,480
-
1,480

Insurance

4,424
-
4,424
7,578
-
7,578

Repairs

30,965
-
30,965
13,486
-
13,486

Telephone

430
-
430
453
-
453

Fuel and oil

197
-
197
254
-
254

Just giving fees

216
-
216
360
-
360

General expenses

872
-
872
1,349
-
1,349

Depreciation

11,162
-
11,162
10,660
-
10,660
Professional fees
-
1,018
1,018
-
1,185
1,185
51,607
1,018
52,625
35,620
1,185
36,805
Analysed between
Charitable activities
51,607
1,018
52,625
35,620
1,185
36,805

Governance cost includes amounts paid for payroll costs and disclosure services.

9
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, the trustees had no reimbursed costs.

 

Unrestricted donations received received from trustees during the year totalled £0 (2023 Nil).

10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
2
3
There were no employees whose annual remuneration was more than £60,000.
11
Other expenditure
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net loss on disposal of tangible fixed assets
45,666
-
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13
Tangible fixed assets
Leasehold property
Vehicles & equipment
Ponies
Total
£
£
£
£
Cost
At 1 April 2023
381,752
39,382
59,166
480,300
Additions
-
5,020
13,500
18,520
Disposals
-
-
(45,666)
(45,666)
At 31 March 2024
381,752
44,402
27,000
453,154
Depreciation and impairment
At 1 April 2023
31,307
15,907
-
47,214
Depreciation charged in the year
7,635
3,527
-
11,162
At 31 March 2024
38,942
19,434
-
58,376
Carrying amount
At 31 March 2024
342,810
24,968
27,000
394,778
At 31 March 2023
350,446
23,476
59,166
433,088
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,816
1,943
Prepayments and accrued income
1,372
-
5,188
1,943
15
Loans and overdrafts
2024
2023
£
£
Other loans
10,000
15,000
Payable within one year
10,000
10,000
Payable after one year
-
5,000
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
16
Creditors: amounts falling due within one year
2024
2023
£
£
Borrowings
10,000
10,000
Other taxation and social security
1,411
121
Trade creditors
11,926
5,819
23,337
15,940
17
Creditors: amounts falling due after more than one year
2024
2023
£
£
Borrowings
-
5,000
18
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Balance at
1 April 2023
Incoming resources
Balance at
31 March 2024
£
£
£
£
£
£
New building fund
2,000
1,800
(1,800)
2,000
-
2,000
19
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
514,001
147,247
(205,629)
455,619
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
454,877
189,572
(130,448)
514,001
RIDING FOR DISABLED ASSOCIATION ABINGDON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
394,778
-
394,778
Current assets/(liabilities)
60,841
2,000
62,841
455,619
2,000
457,619
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
433,088
-
433,088
Current assets/(liabilities)
85,913
2,000
87,913
Long term liabilities
(5,000)
-
(5,000)
514,001
2,000
516,001

 

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