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COMPANY REGISTRATION NUMBER: 09146301
CHARITY REGISTRATION NUMBER: 1158881
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
8
Statement of financial activities (including income and expenditure account)
9
Statement of financial position
10
Notes to the financial statements
11
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
Wilton Riding for the Disabled Association
Charity registration number
1158881
Company registration number
09146301
Principal office and registered
4 St Albans Close
office
Bishopdown Farm
Salisbury
Wiltshire
SP1 3FN
The trustees
Mrs Thomas
Mrs H Bennett
Samantha Cain
(Appointed 17 January 2024)
Elizabeth Cairns
(Appointed 17 January 2024)
Mr Dixon
Mrs Drew - Treasurer
Mrs Hounsome
Mr Maclean
(Resigned 10 May 2023)
Mrs Marking
Miss A Walden
Dr Worrall - Chairman
Independent examiner
Sarah Hughes-Williams Macdees Accountancy Limited
Structure, governance and management
The Trustees present their annual report together with the financial statements of the Company for the year 1 April 2023 to 31 March 2024. 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 2019).
Since the Company 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. Objectives
The objects of The Charity are to promote the objectives of The Riding for the Disabled Association incorporating Carriage Driving - a charity registered under Charity Number 244108 (The Association) by providing people with disabilities the opportunity to ride, drive or engage with horses to benefit their health and wellbeing. Wilton RDA does not offer carriage driving.
The Charity provides therapeutic riding to benefit the health and wellbeing of children and adults with both physical and mental disability and learning difficulties. This takes place at the Pembroke Centre, Home Farm Road, Wilton. Wilton RDA operates primarily in school term time from Tuesday to Thursday 9:30 to 3:30 pm and Saturdays 9:30 to 2:00pm.
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. Activities undertaken to achieve objectives
The Charity has continued to work to achieve the aims of its Mission Statement:
RIDING:
Demand for riding sessions continues to grow. Fiona Larkin and Claire Hacker continue to meet the challenge of reducing a waiting list and providing sessions for the maximum number of riders while keeping the pony/horse usage at manageable levels.
Quite a few of our ponies are old and can only work for a limited time each day.
Riders come for a block of six weeks riding at a charge of £10 per session. The charge has been completely accepted and understood by riders. We have a fund available for any rider who is unable to meet the cost.
During school holidays we have introduced 'Own a Pony' days. These give riders the chance to spend a longer time with a pony and to experience caring for a pony as well as riding. These days have
proved to be very popular.
We have appointed our first Rider Ambassador, Victoria Cheshire. She has introduced the Ambassadors Award which will be given annually to a Coach in recognition of all the work they do.
GROUND BASED ACTIVITIES:
Emma Bull provides Equine Assisted Learning Sessions. These have been extremely successful and are especially helpful for young people with anxiety issues. On Mondays the Yoga with Horses group meets. The group has been a great success for our own volunteers.
Tea with a Pony sessions continue to be a great success. Sessions take place on Friday afternoons. Guests are introduced to the ponies and then have the opportunity to meet and stroke them before joining the volunteers for tea and cakes in the clubroom. This year we have run sessions for; Blind Veterans, Alabare, Mencap, Milford House, Alzheimers Support,The Porton Friday Club, the Creative Skills Club, Barchester House, Salisbury Manor and the Whiteparish GP Surgery. The sessions have been enjoyed by by both guests and volunteers. We are immensely grateful to the many volunteers who have made cakes and given up their time to run the sessions. There is no doubt that simply being with horses can have a profound impact, both stimulating and calming our guests. There has been nothing but positive comments after the sessions with several of the groups booking for further visits.
HORSES AND PONIES:
We have 16 horses and ponies. The Trustees would like to thank Claire Hacker, Sally Lefroy and all the volunteers who look after them throughout the year and undertake all the care and feeding on non-riding days. Sadly we have had to say goodbye to March. He was a much loved and valued pony and will be hard to replace. We purchased Mikey, already a reliable member of our horse team, from his owner Fi Larkin and have also welcomed Bugsy who is used by RDA but is owned by Fi. Bob Rhind-Tutt continues to do a great job looking after our fields and dealing with repairs to fencing.
COACHING AND TRAINING:
We continue to provide training to all our volunteers at the start of the school year. This is open to long standing volunteers as a refresher training and offers a comprehensive training for new volunteers. New volunteers are also supported in the early stages of volunteering by a mentor/buddy and are provided with a handbook to support their learning. In June this year we ran a training event for volunteers which included excellent sessions on equine behaviour and equine assisted learning. These sessions were delivered by two of our volunteers and were very well received. We are extremely grateful to our Coaches. We have some volunteers already undertaking Coaching training and we are encouraging more people to get involved.
STAFF and VOLUNTEERS:
Claire Hacker continues in post as our Centre Manger. She is a huge asset to the Pembroke Centre and is a positive inspiration to riders and to volunteers. The Trustees would like to record their thanks for the excellent work that she does. Fi Larkin has responsibility for organising the rides and riders and we are very grateful for her skill in allocating riders to rides and in managing their expectations.
The Pembroke Centre could not operate without the many volunteers who give up their time to help with riding, fundraising and all the ground based activities that we are developing. We are so fortunate in being able to attract so many committed and talented people who are very much at the heart of everything that we do. The Volunteer Co-ordinators have provided support to the volunteers and make sure that everyone helping at the Centre feels welcomed and valued. In addition to the VC duties Bim Clarke continues to run the DBS checks with her usual efficiency.
The Adult Life Skills Group from Wiltshire College have continued to help us with the gardening and their help in clearing and tidying the gardens and grounds has been very much appreciated. The Operations Team continues to work well and the "Dashboard" summary of activities has proved to be of great benefit to the Trustees, ensuring that strategic planning can be grounded in the practical running of the Centre. At the AGM in November we recorded our thanks to Phil Maclean for his invaluable support as a Trustee. Work and family commitments have made it impossible for him to remain as a Trustee but he remains a valued friend, and sometime photographer. Jane Cairns and Sam Cain joined the Board of Trustees and, with business and marketing experience, have already proved to be significant contributors to the development of the Pembroke Centre. Chris Clack has agreed to take on the minute taking for Trustee meetings and all the Trustees very much appreciate her efficient and accurate notes.
The Board of Trustees continues to provide direction at the Centre and to ensure that the Centre runs efficiently and effectively. This has been an important year in our development. In order to demonstrate that our commitment was to equine therapy rather than solely therapeutic riding the Trustees agreed to invest in a new image, name and logo. This is reflected in the new name, the Pembroke Centre, and a new logo which shows an equine image rather than a rider. The development is still very much work in progress but we are building a new web site and have commissioned some new signs and promotional materials. Wilton RDA, EAL and Tea with a Pony are elements of equine therapy running under this banner. We want to ensure that we are seen as a resource for the wider community and to offer help to people who could benefit from a relationship with horses rather than only riding them. We are also very much aware that Wilton RDA has a long -standing reputation in the community and will be making sure that this is not overlooked. Wilton RDA remains our core business and the name of the charity. The Trustees are especially grateful for the patience of volunteers during this transitional period.
FUNDING and FUNDRAISING:
With legacies, donations and fundraising activities we continue to be in a good financial state. The Trustees have ensured that spending is carefully monitored and managed so that we can keep running costs to a minimum and we are extremely fortunate in having Tricia Drew as our Treasurer to keep us well within targets. We received a very generous donation from Jan Hayes-Newington, a former volunteer, and we are very grateful for this and for the time and energy she and her husband have given to us over the years. We have worked to increase our profile this year as well as to raise funds. We went back to the 1940's for our float in the Wilton Carnival and also spent some time talking to customers at the Co-op in Wilton. We gave a presentation at the Annual Town meeting in Wilton and also had a small display there. We also had a display and collection at the family day at Salisbury Racecourse which was a great success both for fundraising and for profile. We were invited to spend a day collecting at the Salisbury Tesco store. This was once again a benefit in raising funds and profile and we are very grateful to Tesco for this opportunity and for their continuing support. We were the main beneficiary of the Downton Christmas Tree Festival and very much enjoyed attending this delightful event. This year we were also joint beneficiaries of the Salisbury Mayor's Appeal. We worked with the Rotary Clubs of Wilton and Salisbury and with the Salisbury Hospice to support Mayor Atiqul Hoq in a variety of fund raising activities. We have received £6,000 from the Appeal so far and are very grateful to the Mayor for naming us as beneficiaries. Our own Christmas Carol Service was, as always, a great success. Thank you to Claire Hacker and all the volunteers who made sure that it was a delight for everyone who attended.
Finally I would like to thank the Trustees, Fi and Claire and all our volunteers for their hard work and support for the Pembroke Centre. It is an amazing place giving help and support to so many people in so many different ways. I am very pleased and proud to have the opportunity to be involved.
Dr Jacqueline Worrall
Chairman of Trustees.
Achievements and performance
a. Key performance indicators
The charity's resources increased by £9,380 (2023 increased £23,785) during the year, represented by net assets of £431,747 (2023 £422,367) at the year end.
b. Review of activities
The charity had total incoming resources of £107,524 (2023 £106,467), the principal source of funds being from donations. Expenses were £98,143 (2023 £82,682)
Other trading activities consist of fund raising from the Wilton 100 fundraising event and various raffles.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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
Unrestricted funds at the year end totalled £370,697 (2023 £349,166). Of this £106,931 (2023 £106,931) has been designated for a particular purpose leaving a balance of £263,766 (2023 £242,235) in the general fund after legal, planning and accountancy costs.
These represent unrestricted, undesignated funds available for The Charity's ordinary purposes of running the centre, any funds which are in excess of these costs and surplus to requirements are to be utilised for the replacement/refurbishment of buildings and ancillary riding areas.
Unrestricted funds includes designated funds of £70,000 held for the replacement/refurbishment of buildings; and in addition, donations towards clubroom furniture, a field shelter, which are being written down over the course of each of the assets estimated lifetime.
c. Material investments policy
The investment policy has been to hold funds in the HSBC deposit fund. However during the year surplus funds have been invested in United Trust Bank.
d. Principal risks and uncertainties
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Structure, governance and management
a. Constitution
Wilton Riding for the Disabled Association is registered as a charitable company limited by guarantee and was set up by and constituted under the Memorandum of Association on 24 July 2014. It is a registered charity, number 1158881 .
b. Structure and governance
Wilton Riding for the Disabled Association (The Charity) Is a company limited by guarantee registered In England and Wales with company number 09146301. It was Incorporated on 24 July 2014 with the intention of taking over the activities of the The Wilton Group of The Riding for the Disabled Association (The Group), registered charity number 1074175, which was created in February 1999.
The Charity was registered with the Charity Commission on 16 October 2014 with charity number 1158881 and the assets of The Group were transferred to The Charity on 31 March 2015.
The Group and now The Charity operate under the umbrella of the Riding for the Disabled Association incorporating Carriage Driving which Is a charity registered under the Charities Act 1960 with registered number 244108 (The Association). The Association is a federation of separate member groups of which The Charity (and formerly The Group) Is one such member. The Association's headquarters are at Norfolk House, 1a Tournament Court, Edgehill Drive, Warwick, CV34 6LG.
The Charity is governed by the memorandum and articles.
c. Methods of appointment or election of Trustees
Management of the company (Wilton RDA) is the responsibility of the Trustees who are elected every year at the AGM, and if brought on board mid-year, are co-opted until such time they are elected formally at the next AGM. There are currently 10 Trustees, Philip Maclean stood down as Chair of Trustees during the year and Samantha Cain and Elizabeth Cairns joined the Trustee board. The Trustees meet at least 6 times a year, and liaise closely with both the VC's and the Centre Manager.
The Trustees normally try to enlist from the volunteers who are already formally registered with The Charity, but occasionally it proves necessary to search rather wider afield.
d. Policies adopted for the Induction and training of Trustees
Induction of new Trustees is dealt with by following the guidance laid down in the RDA National's Membership Manual which, inter alia, requires all new trustees to read the relevant Charity Commission publications.
e. Management
It is the duty of Trustees to oversee the control of the Wilton RDA, and its property and funds. They have a duty to plan for a successful future for the centre, and provide value for money from any capital expenditure that is required.
Company law requires the charity Trustees to prepare financial statements for each year which gives a fair view of the state of affair of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
It is the Trustees responsibility to make sure the appropriate risk assessments for the centre, and the activities taking place therein, are produced. Also, that all insurance policies are kept up to date.
Trustees must ensure GDPR Implementation is applied, and to this end has a Data Protection Policy and a Group Privacy Policy both of which are displayed on the club room notice board.
Claire Hacker continues in her role as Centre Manager linking the riding days and overseeing all aspects to ensure the smooth and efficient running of The Pembroke Centre.
f. Maintenance
Ongoing maintenance work on the fences and field shelters continue under the supervision of the Operations Team.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 25 September 2024 and signed on behalf of the board of trustees by:
Mrs Drew - Treasurer
Trustee
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Wilton Riding for the Disabled Association
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Wilton Riding for the Disabled Association ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company 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 as 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
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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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
4. the financial statements 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).
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.
Sarah Hughes-Williams Macdees Accountancy Limited
Independent Examiner
1 Pennys Lane
Wilton
Salisbury
Wiltshire
SP2 0BE
25 September 2024
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
57,060
57,060
42,420
Other trading activities
6
44,147
600
44,747
56,047
Investment income
7
5,717
5,717
1,626
Other income
8
6,374
---------
----
---------
---------
Total income
106,924
600
107,524
106,467
---------
----
---------
---------
Expenditure
Expenditure on charitable activities
9,10
97,543
600
98,143
82,682
---------
----
---------
---------
Total expenditure
97,543
600
98,143
82,682
---------
----
---------
---------
---------
----
---------
---------
Net income and net movement in funds
9,381
9,381
23,785
---------
----
---------
---------
Reconciliation of funds
Total funds brought forward
361,316
61,051
422,367
398,582
---------
--------
---------
---------
Total funds carried forward
370,697
61,051
431,748
422,367
---------
--------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
16
223,432
226,098
Current assets
Stocks
17
2,280
735
Debtors
18
13,301
11,000
Investments
19
112,617
106,951
Cash at bank and in hand
87,966
82,970
---------
---------
216,164
201,656
Creditors: amounts falling due within one year
20
7,848
5,387
---------
---------
Net current assets
208,316
196,269
---------
---------
Total assets less current liabilities
431,748
422,367
---------
---------
Net assets
431,748
422,367
---------
---------
Funds of the charity
Restricted funds
61,051
73,201
Unrestricted funds
370,697
349,166
---------
---------
Total charity funds
22
431,748
422,367
---------
---------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Dr Worrall - Chairman
Trustee
Wilton Riding for the Disabled Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
Wilton Riding for the Disabled Association is a charitable company limited by guarantee incorporated in England and Wales with the company number 09146301. Its registered office is 4 St Albans Close, Bishopdown Farm, Salisbury, Wiltshire, SP1 3FN. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The company is also registered with the Charity Commission and its registered number is 1158881 .
2. Statement of compliance
Statement of Trustees' responsibilities The Trustees (who are also the directors of the Company 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 Company 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: 1. Select suitable accounting policies and then apply them consistently; 2. Observe the methods and principles of the Charities SORP (FRS 102); 3. Make judgements and accounting estimates that are reasonable and prudent; 4. State whether applicable UK Accounting Standards(FRS 102) have been followed,subject to any material departures disclosed and explained in the financial statements; 6. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company 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 and signed on their behalf by: Patricia Drew
3. Accounting policies
Basis of preparation
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports Regulations 2008) only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Wilton Riding for the Disabled Association 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.
Going concern
The Trustees consider that the Charity is a going concern and the accounts have been prepared on that basis. For further Information see note 27.
Disclosure exemptions
No cash flow statement has been presented for the company.
No key judgements and estimations have been set for this year.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company 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.
Incoming resources
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. This recognition of Income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteers. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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 this 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.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Liabilities and provisions
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 bs estimated reliably.
Liabilities are recognised at the amount that the Company 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.
Investments
Current asset Investments comprise cash or cash equivalents with a maturity date of one year or more from the date of acquisition or opening of the deposit or similar account.
Tangible assets
Tangible fixed assets costing £250 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
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Centre upgrades
-
over the estimated life spans of the various assets
Office equipment and tack equipment
-
25% reducing balance
Horses and ponies
-
10% straight line
Solar panels
-
over 20 years for the solar panel and over 12 years for the inverter
Indoor riding school
-
over the period of the lease
Debtors
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Cash at bank and in hand
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.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Financial instruments
The Company 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.
Defined contribution plans
This Company operates a defined contribution pension scheme and the pension charge represents the amounts payables by the Company to the fund in respect of the year.
4. Limited by guarantee
Wilton Riding for ths Disabled Association is a charitable company limited by guarantee incorporated in England and Wales with the company number 09146301. Its registered office is 4 St Albans Close, Bishopdown Farm, Salisbury, Wiltshire, SP1 3FN. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, this liability in respect of the guarantee is limited to £1 per member of the Charity. The company is also registered with the Charity Commission and its registered number is 1158881 .
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations (Non-regular)
47,556
47,556
Donations (Regular)
2,575
2,575
Legacies
5,275
5,275
Collecting Boxes
1,654
1,654
Grants
Grants Income
--------
----
--------
57,060
57,060
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations (Non-regular)
32,821
1,062
33,883
Donations (Regular)
1,974
1,974
Legacies
4,000
4,000
Collecting Boxes
2,263
2,263
Grants
Grants Income
300
300
--------
-------
--------
41,058
1,362
42,420
--------
-------
--------
6. Other trading activities
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Various fund raising events
5,206
5,206
Use of school, Riding & Pembroke Centre
34,925
600
35,525
Sale of goods
2,435
2,435
Sale of excess solar energy
1,581
1,581
--------
----
--------
44,147
600
44,747
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Various fund raising events
8,763
1,991
10,754
Use of school, Riding & Pembroke Centre
40,734
750
41,484
Sale of goods
2,508
2,508
Sale of excess solar energy
1,301
1,301
--------
-------
--------
53,306
2,741
56,047
--------
-------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest
5,717
5,717
1,626
1,626
-------
-------
-------
-------
8. Other income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Other income
6,374
6,374
----
----
-------
-------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Event expenses
56,362
600
56,962
Support costs
41,181
41,181
--------
----
--------
97,543
600
98,143
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Event expenses
37,315
37,315
Support costs
45,354
13
45,367
--------
----
--------
82,669
13
82,682
--------
----
--------
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Grant funding of activities
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
£
Event expenses
53,888
3,074
41,181
98,143
82,682
--------
-------
--------
--------
--------
11. Analysis of support costs
Analysis of support costs
Total 2024
Total 2023
£
£
£
Staff costs
8,814
8,814
8,470
General office
9,956
9,956
4,339
Governance costs
3,279
3,279
1,995
Support costs
19,132
19,132
30,561
--------
--------
--------
41,181
41,181
45,365
--------
--------
--------
12. Net income
Net income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
10,761
9,784
--------
-------
13. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,230
1,003
-------
-------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
8,345
8,022
Employer contributions to pension plans
469
448
-------
-------
8,814
8,470
-------
-------
The average head count of employees during the year was 2 (2023: 2 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Number of staff
2
2
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16. Tangible fixed assets
Freehold property
Fixtures and fittings
Other fixed assets
Office and Computer equipment
Long-term leasehold property
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
169,250
23,177
58,489
7,271
40,688
298,875
Additions
3,072
294
4,729
8,095
Disposals
( 81)
( 81)
---------
--------
--------
-------
--------
---------
At 31 Mar 2024
172,322
23,390
63,218
7,271
40,688
306,889
---------
--------
--------
-------
--------
---------
Depreciation
At 1 Apr 2023
29,091
15,563
14,177
4,414
9,533
72,778
Charge for the year
4,406
1,960
2,699
504
1,192
10,761
Disposals
( 82)
( 82)
---------
--------
--------
-------
--------
---------
At 31 Mar 2024
33,497
17,441
16,876
4,918
10,725
83,457
---------
--------
--------
-------
--------
---------
Carrying amount
At 31 Mar 2024
138,825
5,949
46,342
2,353
29,963
223,432
---------
--------
--------
-------
--------
---------
At 31 Mar 2023
140,159
7,614
44,312
2,857
31,155
226,097
---------
--------
--------
-------
--------
---------
17. Stocks
2024
2023
£
£
Raw materials and consumables
2,280
735
-------
----
18. Debtors
2024
2023
£
£
Trade debtors
4,641
4,806
Prepayments and accrued income
8,660
6,194
--------
--------
13,301
11,000
--------
--------
19. Investments
2024
2023
£
£
Short term bonds
25,000
50,695
HSBC deposit fund
87,617
56,256
---------
---------
112,617
106,951
---------
---------
20. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
811
( 273)
Accruals and deferred income
7,037
5,660
-------
-------
7,848
5,387
-------
-------
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 469 (2023: £ 448 ).
22. Analysis of charitable funds
Unrestricted funds
At 1 Apr 2023
Income
Expenditure
At 31 Mar 2024
£
£
£
£
General funds
254,385
106,924
(97,543)
263,766
Designated Fund
106,931
106,931
---------
---------
--------
---------
361,316
106,924
(97,543)
370,697
---------
---------
--------
---------
At 1 Apr 2022
Income
Expenditure
At 31 Mar 2023
£
£
£
£
General funds
222,540
102,364
(82,669)
242,235
Designated Fund
106,931
106,931
---------
---------
--------
---------
329,471
102,364
(82,669)
349,166
---------
---------
--------
---------
Restricted funds
At 1 Apr 2023
Income
Expenditure
At 31 Mar 2024
£
£
£
£
Restricted Fund
61,051
600
(600)
61,051
--------
----
----
--------
At 1 Apr 2022
Income
Expenditure
At 31 Mar 2023
£
£
£
£
Restricted Fund
69,111
4,103
(13)
73,201
--------
-------
----
--------
23. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
223,432
223,432
Investments
112,617
112,617
Current assets
103,547
103,547
Creditors less than 1 year
(7,848)
(7,848)
---------
---------
Net assets
431,748
431,748
---------
---------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
226,098
226,098
Investments
106,950
106,950
Current assets
94,706
94,706
Creditors less than 1 year
(5,386)
(5,386)
---------
---------
Net assets
422,368
422,368
---------
---------