The trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".
The Charity's principal objective is to promote the aims of the Riding for the Disabled movement by providing people with physical and/or learning difficulties the opportunity to horse ride to benefit their health and wellbeing in the Wirral and Chester areas.
Public benefit
The trustees continue to be convinced that this report and the accounts clearly demonstrate that the Charity continues to meet the requirements of the Charity Acts as regards public benefit.
Charitable activities
We continue to provide rides in line with the availability and number of our volunteers.
We provide 12 sessions each week on Tuesdays and Wednesdays at the Wirral Riding Centre, supported by around 55 active volunteers. This allows over 40 riders each week, aged from 6 to 60, to enjoy a session with us.
We continue to receive applications to ride with us which exceed our current capacity. A waiting list is therefore in place based on individual rider requirements and volunteer availability. As we do not have a high turnover of riders, places are very limited.
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Financial position
Incoming resources for the year amounted to £12,071 (2025 £15,486) and resources expended amounted to £23,674 (2025 £21,937). In addition there were gains on investments amounting to £33,102 (2025 £3,291).
The net financial result was that the Charity showed a surplus of £21,499 (2025 £3,160 deficit) for the year resulting in total funds of £529,154 (2025 £507,655) of which £523,154 was represented by Fixed Asset Investments.
Reserves policy
Objectives:
• maintain investment to support level of activity set out in the Charity's Activity Plans.
• maintain sufficient working capital in reserve to avoid cash flow difficulties and to cover management and administration and support costs and enable the company to continue its current activities and meet its direct charitable expenditure in the event of a significant reduction in income.
• generate an annual income to cover current expenditure in the relevant year in line with the requirements
of the reserves policy and as specified in the activity plans to the extent that this proves possible.
• avoid concentration of income from limited number of sources.
This will be achieved by:
• managing fixed costs.
• continuing to seek savings on overheads.
• seeking to achieve an annual surplus in order to increase general reserves.
• maximising net income.
• reviewing our capital investments in a timely manner and to be in regular receipt of our portfolio valuation,
investing funds which are not immediately required in such investments as they may be advised and in accordance with best practice as laid down in guidelines and criteria of the Charity Commission and Riding for the Disabled Association and having regard to economic and financial matters relevant from time to time.
The Charity could hold reserves for any of the following purposes:
• assist with cash flow.
• build up a contingency fund.
• to reinvest in designated projects - designated fund.
• for contingent liabilities.
• to purchase capital plant and equipment.
This list is not exhaustive. Reserves or general purpose funds are needed to enable the Charity to absorb set backs and take advantage of change and opportunity. Reserves help secure its viability beyond the immediate future and facilitate its continued existence.
The Charity has considered all of the above and has in place a Policy that also gives the reasons for the reserves and their level, and the steps to be taken to reach and maintain these levels
Investment policy
Our investment portfolio continues to be well managed and has performed well under the circumstances, although has been subject to a degree of volatility due to factors such as the war in Ukraine and the Middle East conflict.
We work closely with our Independent Financial Advisor and the investment managers at Albert E Sharp and receive regular statements. The portfolio has increased in value and continues to provide income which, together with donations, covers our outgoings the majority of which are ride fees paid to the Wirral Riding Centre.
The income derived from our investment portfolio, together with donations received, mean that we have no necessity to actively fund raise, and this is the agreed opinion of the trustees.
Risk Factors
Through its policies and procedures, general management and financial management procedures and regular reporting to the Board through its sub-Committees, the Charity believes it has the necessary structures in place to mitigate and minimise any risks it may face. The Charity has been keen to encourage the development of Federation-wide consistent policies, practices and procedures aimed at minimising the risk of individual Member Groups suffering economic, strategic, operational or reputational loss.
Governing document
The Charity is a registered Charity and a Company limited by guarantee and is governed by its Memorandum and Articles of Association. The Charity is a Member of the Riding for the Disabled Association incorporating Carriage Driving, Company Registration Number 5010395, Charity Number 244108.
Charity constitution
Wirral and Chester Riding for the Disabled is a Company limited by guarantee and as such has no share capital. The liability of the members of the Company, as set out in the Memorandum of Association is limited to £1 per member.
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:
Recruitment and appointment of new trustees
Trustees are elected from amongst the membership of the Charity, by the members in general meeting.
The trustees report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Wirral And Chester Riding For The Disabled (the charity) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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 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.
Wirral And Chester Riding For The Disabled is a private company limited by guarantee incorporated in England and Wales. The registered office is 46 Hamilton Square, Birkenhead, Wirral, Merseyside, CH41 5AR.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". 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 financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
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 a case by case basis following the granting of probate when the administrator/executor has communicated in writing both the amount and the settlement date. In the event the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally on notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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.
Governance costs
These represent costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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 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.
There were no disclosable related party transactions during the year (2025 - none).