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REGISTERED COMPANY NUMBER: 04741609 (England and Wales)
REGISTERED CHARITY NUMBER: 1104072














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE VETERAN EQUINE TRUST LIMITED

THE VETERAN EQUINE TRUST LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Statement of Financial Position 4 to 5

Notes to the Financial Statements 6 to 11

THE VETERAN EQUINE TRUST LIMITED (REGISTERED NUMBER: 04741609)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 FEBRUARY 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 February 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objectives and principal activities continue to be those of the welfare, care and rehabilitation of veteran horses and ponies. In furtherance of these objectives, its policy is the rehoming, welfare and rehabilitation of horses and ponies over the age of 15 years and is developing a very successful therapy programme through Animal Communication and Reconnective Heating.

Public benefit
The charity meets the public benefit requirement of caring for sick, injured or homeless animals.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continues to concentrate on the welfare, rehabilitation and rehoming of veteran horses and this is achieved through visits to yards and other establishments, to provide personal advice on veteran horse care and management.

FINANCIAL REVIEW
Principal funding sources
The charity's main source of income continues to be from charitable donations and legacies.

Financial performance
The charity recorded a surplus of £2,725 (2023 £152) for the year ended 29th February 2024 resulting in total funds of £22,744 (2023 £20,019). The members have pledged to support the charity for the foreseeable future and thus the accounts have been prepared on a going concern basis.

FUTURE PLANS
The charity intends to seek and invite new Trustees to continue to promote the care and welfare of older horses by the same means as previous years.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a memorandum and articles of association incorporated 23 April 2003 as amended by special resolution dated 25 April 2004, as amended on 12 April 2018, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

There are no restrictions in the governing document on the operation of the Charity or on its investment powers, other than those imposed by charity law.

Recruitment and appointment of new trustees
Trustees are elected by members at the Annual General Meeting, on the recommendation of the existing Trustees. The Board consists of people with an interest in furthering the objects of the charity.

Organisational structure
The Board of Trustees meets as required. Julianne Aston is appointed by the Trustees to manage the day to day operations of the charity. To facilitate effective operations, she has delegated authority, within the terms of delegation approved by the Trustees, for operations matters including finance, employment and contractual agreements with funders.


THE VETERAN EQUINE TRUST LIMITED (REGISTERED NUMBER: 04741609)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 FEBRUARY 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Candidate trustees are invited to attend trustee meetings. They are invited to meet the staff and discuss the work being carried on.

Related parties
Julianne Aston is also director of Veteran Horse Society. Profits from Veteran Horse Society are donated to the Veteran Equine Trust Limited.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04741609 (England and Wales)

Registered Charity number
1104072

Registered office
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

Trustees
Ms J Aston
R Aston
J Dawkins

Company Secretary
Ms J Aston

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 26 November 2024 and signed on its behalf by:





Ms J Aston - Trustee

THE VETERAN EQUINE TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 29 FEBRUARY 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 7,954 - 7,954 4,180

Other trading activities 2 150 - 150 162
Total 8,104 - 8,104 4,342

EXPENDITURE ON
Raising funds 1,788 - 1,788 3,127

Charitable activities
Welfare, care and rehabilitation 3,591 - 3,591 1,063
Total 5,379 - 5,379 4,190

NET INCOME 2,725 - 2,725 152


RECONCILIATION OF FUNDS
Total funds brought forward 20,019 - 20,019 19,867

TOTAL FUNDS CARRIED FORWARD 22,744 - 22,744 20,019

THE VETERAN EQUINE TRUST LIMITED (REGISTERED NUMBER: 04741609)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 1,293 - 1,293 1,524

CURRENT ASSETS
Debtors 7 4,020 - 4,020 4,020
Cash at bank and in hand 19,647 - 19,647 17,369
23,667 - 23,667 21,389

CREDITORS
Amounts falling due within one year 8 (2,216 ) - (2,216 ) (2,894 )

NET CURRENT ASSETS 21,451 - 21,451 18,495

TOTAL ASSETS LESS CURRENT LIABILITIES 22,744 - 22,744 20,019

NET ASSETS 22,744 - 22,744 20,019
FUNDS 9
Unrestricted funds 22,744 20,019
TOTAL FUNDS 22,744 20,019

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


THE VETERAN EQUINE TRUST LIMITED (REGISTERED NUMBER: 04741609)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024

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


The financial statements were approved by the Board of Trustees and authorised for issue on 26 November 2024 and were signed on its behalf by:





J Aston - Trustee

THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. ACCOUNTING POLICIES

Going concern
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis on the assumption that continued support will be forthcoming from the trustee.

Income
Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item (s) have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations, grants and gifts are recognised when receivable. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued income in debtors.

Interest on deposit funds held is included when receivable and the amount can be measured reliably by the Charity which is normally upon notification of the interest paid or payable by the bank.

Expenditure and irrecoverable vat
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Support costs are made up of administration & management, finance costs and governance costs.

Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the Charity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Improvements to property - 25% reducing balance
Plant and machinery - 25% reducing balance
Computer equipment - Straight line over 4 years

Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The Charity was registered as a charity in June 2004. Under part II of CTA 2010 the Charity is not subject to taxation on its charitable activities.

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


THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. ACCOUNTING POLICIES - continued

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Creditors
Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.


Pension costs
Employees can joint a defined contribution pension scheme with NEST. The amount charged against income represents the contributions payable to the scheme in respect of the accounting period.

Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and other short term investment account that are readily convertible to a know amount of cash and are subject to insignificant risk to changes in value. Deposit accounts are shown as short term investments.

2. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Sale of merchandise 150 162

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 231 275

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023.



THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 4,180 - 4,180

Other trading activities 162 - 162
Total 4,342 - 4,342

EXPENDITURE ON
Raising funds 3,127 - 3,127

Charitable activities
Welfare, care and rehabilitation 1,063 - 1,063
Total 4,190 - 4,190

NET INCOME 152 - 152


RECONCILIATION OF FUNDS
Total funds brought forward 19,867 - 19,867

TOTAL FUNDS CARRIED FORWARD 20,019 - 20,019

6. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 March 2023 and 29 February 2024 6,034 330 510 6,874
DEPRECIATION
At 1 March 2023 4,534 306 510 5,350
Charge for year 225 6 - 231
At 29 February 2024 4,759 312 510 5,581
NET BOOK VALUE
At 29 February 2024 1,275 18 - 1,293
At 28 February 2023 1,500 24 - 1,524


THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,020 4,020

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 2,216 2,894

9. MOVEMENT IN FUNDS
Net
movement At
At 1.3.23 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 20,019 2,725 22,744

TOTAL FUNDS 20,019 2,725 22,744

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 8,104 (5,379 ) 2,725

TOTAL FUNDS 8,104 (5,379 ) 2,725


Comparatives for movement in funds

Net
movement At
At 1.3.22 in funds 28.2.23
£    £    £   
Unrestricted funds
General fund 19,867 152 20,019

TOTAL FUNDS 19,867 152 20,019

THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 4,342 (4,190 ) 152

TOTAL FUNDS 4,342 (4,190 ) 152

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.3.22 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 19,867 2,877 22,744

TOTAL FUNDS 19,867 2,877 22,744

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 12,446 (9,569 ) 2,877

TOTAL FUNDS 12,446 (9,569 ) 2,877

10. RELATED PARTY DISCLOSURES

At 28th February 2024, the amount of £4,020 (2023 £4,020) was owed by Veteran Horse Society to Veteran Equine Trust Limited, a company of which J Aston is a director. This amount is included in other debtors.


THE VETERAN EQUINE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

11. COMPANY LIMITED BY GUARANTEE

The Charity is a company is limited by guarantee and does not have share capital. The directors are also members of the company and each member has a liability of £1 in the event of the company being wound up.