Our finances
Here are some key points from our finances, and you can also download a copy of our annual accounts from 2009, 2010 and 2011.
The important thing to remember is that 77% of our income goes directly to our work helping horses. A further 20% is used for fundraising, and every pound we spend in this way generates a further £4 in donations to help more horses. We receive no government or lottery funding and rely entirely on the generos donations from our supporters to continue our work.
-
The Charity's total income in 2011 was £6.9m (2010: £7.1m) a fall of 3.2% from the previous year.
-
Voluntary income accounted for £6.1m (2010: £6.4m), 89% of the total (2010: 90%). The main source of funding remains legacy income, which increased to £4.0m (2010: £3.9m).
-
Income from donations and grants fell by 17% to £2.1m (2010: £2.5m). This was due to two one-off grants being received in 2010, which included a £0.25m award for an Isolation Unit at the Recovery & Rehabilitation Centre in Somerset (Glenda Spooner Farm). Other activities for generating funds, such as lotteries and fundraising events grew by 18% to £0.4m. During the year Gift Aid tax claims from individual supporter donations totalled £218k (2010: £245k) and £409k of VAT (2010 £128k) was reclaimed, the increase in the latter being caused by the Belwade Farm Development. The Charity is discussing a recent VAT audit with HMRC which may result in a repayment of VAT by the Charity; the amount involved is as yet unclear.
-
The charity maintained its commitment to attracting new supporters through a range of activities, centred on press advertising, direct mailings and a resumption of a lottery draw; contactable new donors totalled almost 6,000. The charity delivered efficiencies across its partnerships with a new creative agency and media buyer in the second half of the year.
-
Featuring within the charity's targeted appeals to existing supporters was a new training programme for saddlers and farriers aimed at improving the welfare of working horses in Honduras. Case studies highlighting the increasing workload of the UK-wide team of Field Officers were used to illustrate the funding needs of those at the front line of the charity's welfare work. Marketing support for promoting the benefits and importance of legacy pledging was maintained and a new donor analysis programme was introduced.
-
Total expenditure for the year was £7.1m (2010: £7.2m). Details of charitable expenditure are set out in note 6 on page 21. Overall direct charitable expenditure rose by 4% to £5.4m (2010: £5.2m); expenditure in both the UK and Overseas increased by 8% whilst grant giving and the cost of campaigning declined.
-
Overall the charity recorded a deficit of £176k prior to investment losses. After taking into account these losses, a deficit of £0.5m (2010: surplus of £0.4m) was recorded. In 2010 investment gains converted a small operating deficit into an overall surplus. Full details are set out on page 14 - Consolidated Statement of Financial Activities.
