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).
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.
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.
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.
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.
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:
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.
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.
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:
examine the financial statements under section 145 of the 2011 Act;
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.
In connection with my examination, no matter has come to my attention:
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
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 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.
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.
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.
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.
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.
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:
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.
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).
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.
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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Sales within charitable activities
Raising funds
Charitable expenditure
Utilities
Insurance
Repairs
Telephone
Fuel and oil
Just giving fees
General expenses
Depreciation
Governance cost includes amounts paid for payroll costs and disclosure services.
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).
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
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.