THE DIAMOND CENTRE FOR DISABLED RIDERS (Registered Charity No.. 1045970) (Company No: 03042659) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE DIAMOND CENTRE FOR DISABLED RIDERS Contents Page Reference and Administration Details Trustees, Annual Report Independent Auditorfs Report 8-10 Statemenl of Financial Activities Balance Sheet 12 Notes to the Financial Ststements 13-22
THE DIAMOND CENTRE FOR DISABLED RIDERS REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021 Company Name The legal name of the charity is The Diamond Centre for Disabled Riders Chartty Reglstratlon Number The charity is registered in England & Wales with the Charity Commission with charity number 1045970 Legal structure of the charity The governing document of the charity is the Memorandum and Articles of Association establishing the company under cornpany legislation. The company registration number is 03042659. The Goveming Document is dated 6 April 1995 (amended on 17 April 20201. By operation of law all trustee5 are directors under the Companies Act 2006 and all directors are trustees under Charib85 legislation and have responsibilitie5 under both company and charity legisk3tion. Registered Office and Principal Address The Diamond Centre ft)r Disabled Riders. Woodmansteme Road. Carshallon Surrey SM5 4DT Telephone: 020 8643 7764 Email Address,. admin diamondntre.0 Web address: diamondcentre.org.uk -uk Trustees The Trustees in Offi during the year and on the date the rep(At was approved were all members of the Charity.. Steve Axon (chair) Robert Mathews Sandy Pteifer Katie Hobden Claire Snowdon Carol Bedwell Matthew Taylor Tina Edwards - appointed on 29 Mar(*t 2021 Ann Stuart- appointed on 14 October 2021 Trustee who resigned since the last Annual Replyt was Mike Watson- reSned on 29 March 2021. Bankers HSBC pl¢ 16 King Street Covent Garden London. WC2E &JF Investment Advisors CCLA Investrnent Management 85 Queen Victoria Street London EC4V 4ET Auditor5 Mynjs Smith Chartered Accountsnts Norman House 8 Burnell Road Sutton Surrey. SM14BW
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and Activities The Diamond Centre for Disabled Riders, (Ihe Centre.) is based in Carshalton, Surrey and has been in operation since 1974. It is a member of the national Rtding for Ihe Disabl&Y Association l°RDA'). The object of the Centre is lo provide disabled people the opportunity to ride andlor carriage drive lo benefit their health and well-being and achieve Iheir goals. It is now widely recognized that disabled people can benefit educationally, physicalty and mentally from riding or carriage driving and we will encourage this leaming proSS and its progression. The Centre provides unique horse-riding facilities to benefit disabled children and adults by having regular contact with horses. Our activities include Riding, Carriage Driving, Vaulting, Hippo-therapy and Dressage and our aiffl is to be one of the best riding ntreS for the disabled in the country and to provide horse riding and related equine therapies for everyone that needs tt in our area. Activities are provided by our staff, instructors and volunleers. all of whom are fully qualified for their relevant tasks and attend training courses related to providing horse ridin9 for people with physical disability and leaming difficulties. Our most important people are our riders, ¥aUerS and drivers and we are committed to ensuring our facilities and service will be maintsined al the highest levels so as lo provide every opportunity for every disabled persorb to achieve their goals. Our riders, vaulteTS and driver5 come from all age groups and each week, with the assistance of our instructors and helpers, they can enjoy the experience of riding, carriage driving or vaulting. An experience which gNes them the chance lo be independent and a sense of achievement. We rely heavily on our volunteers and call on over 200 unpaid helpers each week. These volunteers are essential for the day-to-day operation of the centre, and include Instructor5, who undertake the majority of our riding classes, and other volunteers who so willingly assist the riders and drivers in their lessons. not forgetting the many hours they spend grooming our horses and attending training courses. In addition, we have a team of volunteers who assist so pleasanuy in our Shop and SeNery, a talented gardening team and the 'A-Team' _ our skilled maintenance team. Finally, we were delighted that two of our longest serving volunteers, Christine Clay and Pam Bull. were trK)th awarded the RDA President's Award in 2021. Covid-19 Pandemi¢ The pandemic, which significantly curtailed our operations in 2020, continued to affect U5 into 2021. The Centre was closed to disabled riding from January through to the end of March, with staff on reduced hours. From April, we gradually re-introduced disabled riding for individual rider5 in line with the lifting of Covid restrictions and RDA guidance. School groups began to retum only from September. Riding fee income was therefore signtficantly affected by the dosure in tre first quarter and progressive re-opening during the year. However, by the end of the year we were pleased to be back to around 90Q/u of pre- Covid activity. Achievements and Performance Horse Ridin We have a maximum estimate capacity of providing riding to 340 disabled individuals each week. By the end of 2021. we had re-built our riding activtties with 130 regular disabled individuals benefitting from weekly individual and group lessons. and a lull weekly schedule of school groups Ic150 riders}. We have therefore recovered to 280 weekly riders. which is over 80V• of full capacty.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 ..ICont'd Carria e Drivin Aclivities were sUSnded during the pandemic. As we resumed training in the summer of 2021. we received complaints from residents conceming our use of Queen MS Pad(. Following reviews by Sutton Council and the RDA. we were cleared to re-slart in March 2022. Infrastructure The door lo the small school riding arena was replai%d in December 2021. In addition, we are planning major works on the servery area and the leaking roof of the outbuildings. In January 2022, we were awarded a grant of £21.363 from the Sutton Nghbourhood Fund, which will cover around 60QA of the expected cost of the outbuikiings works, expected to be cornpleted by August 2022. SES Pi eline Our local water auihority SES Water. notified us of a new pipeline that needed to be built, cutting through the Diamond Centre front fields. As part of the consultations, we were enlilled to comment on the lirning and exact route of the pipeline. but not able to stop tts construction, which was stalulorily authorised. Conslruction of the "SES How Green l Langley Park Pipeline" started in the autumn. with a 'working area, being fenced off through tre fields. Completion is scheduled for summer 2022 but disruption will continue, and it is predicted that sections of our fields will be out of action for up to 3 years, to allow for reseeding. As the statutory authority. SES is responsible for covering reasonable professional costs and full compensation for extra costs incurred. Stuart Walker (Chartered Surveyor and Fellow of the Central Association of Agricultural Valuers). from agrtcultural property consultants, White & Sons (Oxtedl, has been engaged by Benhill Gospel Tnjsl and is also acting on behalf of Diamond lo monitor the work and ensure there is adequate compensation Horses We ended 2020 wf(h 19 horses, and this went down lo 18 when we unfortunalely had to say gmdbye to Cushla in January 2021. During 2021. in anticipation of retuming to a full schedule of riding activities, S new horses were purchased {Addy. Teddy. Solornon. Tank. Benji)- In January 2022 we sold Saffron as a brtK)d tnare. after many months of peStent injury. We are looking to purchase a fijrther 2 horses in the comin9 year. Slaffin Our Centre Manager Angela Moloney relocated lo the south coasl of England at the end of May and left Diamond, being replaced as Centre Manager by Yard M8n8ger, Marianne ('Ma2"l Ray. Skye McLean resigned at the end of November 2021 lo embark on a change of career, and was Teplaced by Ffion Curtis who had previously been engaged under the Kickstart scherne (see below). We took advantage of the UK Government's "Kickstart" scheme from Febwary 2021 under which 2 young adults were employed for 25 hours per week for 6 months. job experience, funded entirely by govemment grants. This scheme helped bolster our staffing at a time when horses needed lo be re• schooled prior to lull opening. Non-Disabled Ridin Given the limitstions on dISabd riding due to soaal distsncing restrictior15. we continued to provide lessons for non-disabled riders. and welcoTned non-volunteer riders, subject to an initial assessment. The non-disabled riding lessons benefitted the charity in a number of way5. Firstly. by keeping the horses exercised and schooled, withoLJt requiring stsff. Secondty, by generating £33,000 income12020.. £32.0001 in the year. which partly offset the reduction in income frorn disabled riding. And thirdly, by prornoting Diamond in our local community, generatsng interest from new riders in becoming future volunteers. Christmas O enDa The 'Presentalion of Awards and Displays to(* place on Sunday 5th December 2021 but had lo be ended prematurety becaLtse of an acadent involving two riders who were unseated in the first riding display. One rider required hospital treatment and both riders have now recovered.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 ..ICont'd Public Benefit The Trustees have had regard to the guidance issued by the Charity Commission on public benefrt. With an increasing number of people suffering from physical disabiif(ies and leaming difficulties, the public c2n benefit greatly from horse riding carriage driving as a therapy. The Centre strrves lo accommodate this increasing demand by structuring lessons and acts'vities to cater for as wide a range of dients as possible. The number of schools that ride at the centre has been maintained over the year which benefits not just of the rider5 but also Ihe school's curriculum and Ihe rTderfs parents and carers. In addition lo regular riding classes durirsg terrn-tirne. an increasing number of other activities and events are held during the school holrdays to the benefit of the riders. families and carers. Funding We do not receive government or local authority funding to cover our core activities but we are fortunate in having very good support from individuals and organisations in our local communty, as well as our volunteers and corporate donors. Our thank5 go to all who supported us this year, without whorn we would not be able to continue providing our services to the disabled community. Our aim is aNvays lo keep riding affordable and we continue to heavily subsidise all our riding activities from income and donations. Fundraisin In 2020 we were able to hold our annual Autumn Fair having had to cancel it in 2020. The Fair was a resounding success with an estimated 3.000 vistlors. and a profit of over £15.000. Donations incl horse s nsorshi Total donatrons & horse sponsorship was £88.835. This was £38,145 lower than 2020. however the previous year had benefitted from a fundraising appeal which had raised £30.000 at the start of the COVID- 19 pandemic, and £9,000 from a winter hay appeal. Nevertheless, we were very grateful for all donations and in particular a very generous horse sponsorship of over £9.000 from Chartham Park Golf Club. Grants Total grants received were £59,821. cornprising-. Job Retention £24,24412020= £54,891) lo June 2021 when fudoughed staff retumed to full hours. Kickstart Scheme.. £26,057 towards the wages ofjob expe¥ienGe young adults. Sport England.. £3,500 towards the purchase of new horse "Solomon. Bally Thomas Fund.. £5.000 towards the purchase of a new horse "Tank. BHS grant: £1.020 towards Ihe purchase of hoTse wings acies We were extremely grateful to receive legacies relating to the estates of Millicent Campbell {£12,500)', Isobel Gilbert (£15,900) and John Dixon (£5001.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 -ICont'd Financsal review The charity's fin2ncial position al the end of the year ended 31 December 2021 and comparatives for the prior period, as Thore fulty detailed in the accounts, can be summarised as follows.'_ 2021 2020 Net income l {expendtiure) £149,280 £13,894) Unrestricted Revenue Funds Restricted Revenue Funds 1.990,542 35.393 1.844,977 31.678 Total Funds £2,025,935 £1.876.655 Financial revlew of the position at the reporting date. 31 December 2021 The Net income l {expendilure} shown in the table above czn be further broken down as follows". 2021 2020 Net operating result before legacy incrxne & investments £(107,688} £{5.2281 One-off legacy income Revaluation of investments £28.993 £227,975 £50,000 £{48,666) Net income l (expenditure) £149,280 £13,894) The operating result Irom core operats.S before one•off legacy income and investment accounting was lower than the prewous year, by £102.460. This reflects mainly the wnding down of the UK government Job Retention Scheme grants. staff restructuring costs. and exceptional fijndraising in 2020 at the start of the Covid-19 pandemic. Net incorne benefitted from a £227.975 positive revaluation of investments. This reflects partly the bounce back in global equity markets, as well as good perfomiance from our new investment manager CCLA, where our fund recorded over 170A total retum in the year, being ahead of most comparable funds. The trustees remain cautiously optimistic atKJut the prospects for retuming to a full schedule of disabled riding, further closing the gap between operational income and expenditure, and expanding the charity's services to disabled beneficiaries in our comrnunity. Principal risks and uncertainties The Tnjstees are c(onisant of a nurnber of malerial risks facing the Centre. and this is reflected in the conservative reserve5 policy adopled. Risks and uncertainties include (il ctinued disruption from COVID 19 pandemic, (ill health of our horse5. where for example a contagious disease could significantly interrupt our programme of actlvities, (iiil damage to our infrastructure caused by adverse weather. storm, fire or other causes, (iv)
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 .IConl'd unforeseen maintenance Gosts (vl accident or other inadent which causes personal injury and putational damage. Policies on reserves Trustees are currently focussed on developing a sustainable operating model. including the expansion of non-disabled riding lessons, enhancing our volunteer network and infrastructure lo support riding lessons and non-riding activities. A review of infrastnjcture is also ongoing. to detemiine the level of maintenance and repair that will necessarily be spent over the medium to long term. This is being undertaken as part of a Forward Planning initiative of the Trustees. Availability and adequacy of assets of each of the funds The Board of Trustees is satisfied that the charlS assets in each fund are available and adequate to fulfil its obligations in respect of each fvnd. Investment pollcy and investment objeclive5 The investment objective 15 to seek a total return composed of capital gains and income sufficient to preserve the real value of the p)rtfolio against inflation. wtth a focu5 on income ulilising a balanced and (liversified blend of assets wth a medium risk profile. In May 2021. our main investment portfolio was transferred from HSBC to CCLA flong a preview of investment perfomiance followed by a selection process. Membership As at 31 December 2021, the Centre had 146 active mernbers {2020: 146) following a recruitment drive which accompanied the volurrteer survey. Membership is open to those supporting the Centre's work. Structure. governance and management of the chaiity Under the Constitution and Articles of Association of The Diamond Centre for Disabled Riders, the Trustees are ultimatety responsible for all aspects of govemance- for ensuiing the aims of the charity are upheld. overseeing strategy. safeguarding the charib.es assets.. development arLd ensuring the charity 15 Sustainable. The day-to-day management of the centre is devolved to the Centre Manager and Stsff. The methods used to recyuit and appoint new charity trustees When new or addits.onal trustees are recruited, they are elected by the Members or co-opted by the Trustees. All Trustee5 are also Members, and support the Objects of the charity. as set out above. The Trustees retire al each Annual General Meeting I"AGM"l of the charity. Trustees may then sland again and may be reappointed by the Members. Co-opted Trustees hold office until the next AGM, when they retire but may sland as Trustees and pul themselves forward for election by the Members. Trustees. responsibilities sLitement The Trustees (who are also directors of The Diamond Centre for Disabled Riders for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Praclicel.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 .ICont'd 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 a satisffed that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expendilure, of the charitable company for that period. In preparing these financial stateme¥tts, the Tnjsiees are required to.. Select suitable accounting policies and then apply them consistently- Observe the methods and principles in the Charities SORP 2019 IFRS 102)., Make judgernents and accounting estimates that are reasonable and pnjdent.. Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the tharrtable company will continue in operation. The Trustees are responsible ft)r keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable thern to ensLrre that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitabk company and hence for taking reasonable steps for the prevention and detection of fraud and other irreguiarities. ststement as to disclosure of information to auditors The trustees slate that so far as each of the trustees al the time this report was approved are aware: _ a) There is no relevant audit information {as defined by section 418{3) of the Companies Act 2006) of which the charitable company's auditor is unaware, and b) The trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit inforrnalion and establish that the auditor is avfare of that information. In preparing this reFJOrt. the Trustees have taken advantage of the small companies exemptions provided by sectson 415A of the Companies Act 2006. This report was approved by the Trustees on q Jude 2022 and signed on their behalf by S Axon Director and Trustee
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS Opinion We have audfLed the financial statements of The Diarnond Centre for Disabled Riders {Ihe 'charitable company I for the year ended 31 December 2021 which comprise ihe Statemenl of Financial Activities, the Balance Sheet and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Repo.ng Standard applicable in the UK and Republic of Ireland (Unrted Kingdom Generally Accepted Accounting Pracb-cel. In our opinion the financial staterrtents-. give a true and fair view of the stste of the Charitab company's affairs as at 31 Dernber 2021, and of its incoming resources and application of resources. including its income and expenditure. for the year then enéed., have been property prepared in accordance with Untled Kingdom Generally Accepted Accounting Pracbce,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance wrth Intemabonal Standards on Audtting (UK) {ISAs IUKI) and applicable law. Our responsibileS under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S ElhiGal Standard. and we have fuffilled our other ethical respon5ibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the finanoal staternenls. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast signrficant doubt on the charitable company's ability to continue as a going concern for a period of al least twelve Months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wilh respect to going concem are described in the relevant sections of this report. Other infomiation The other information comprises the infomiation included in the tnjstees. annual report. other than the financial statements and our auditor's reF)Ort thereon. The INstees are responsible for the other infomiation contained within the ITUStees' annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise expliciuy stated in our reporL we do not express any form of assurance condusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other infomation is materially inconsistent with the financial slalernents or our knowSedge obtained in the course of the audit or othewse appears to be materially misstated. If we identify such material inconsistencies or apparent material Flli55talements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfonned. we conclude thal the is a material misstatement of this olher information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audil- the infomiation given in the trustees, report {incoTporating the directors report) for the financial year for which the financial statements are prepared is consistent wlh the financial statements- and the direclors, report has been prepared in accordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS -ICont'd Matters on which we are required to report by exception In the light of the knowledge and understanding of the tharitable company and its environment obtained in the course of the audit. we have not identtfied material misstatements in the directors. report. We have nothing to report in respect of the following matters in relatKJn to which the Companies Act 2006 requires us to report to you rf. in our opinion: adequate accounting records have not been kèpt, or rétums adequate for our audit have not been received trom branches not visited by us,. or the financial ststernents are not in agreement yth the accounting Tecords and retums: or certain disdosures of directors. remunerab'on specrfied by law are not made", or we have not received all the inforniab.on and explanations we require for our audit", or the trustees were not entided to prepare the financial ststements in accordance with the small companies, regime and take advantsge of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities ststement. set out on page 6. the trustees (who are also the directors of the charitable company for the purposes of cornpany lawl are responsible for the preparation of the financial statements and for being satisfied that they give a tnje and fair view. and for Such intern81 control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or ermr. In preparing Ihe financial statements, the tnjstees are responsible for assessing the charitable company's ability to continue as a going concem. disclosing, as applicable. matters related to going concern and using the going Ix)ncem basis of accounting unless the trustees either intend to liquidate the charitable company or lo Cease operations, or have no realistic altemative bul to do so. Auditorf5 respon5ibilitie5 for the audit of the financial st*ements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalernent. whether due to fraud or eor. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a rnaterial misstatement when it exists. Misstatements can arise from fraud or eThor and are considered malerial if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements_ Irregularities. including fraud. are instances of norFci)mpliance with laws and regulation5. We design procedures in line wth our responsibiltb"es, oullined atM)ve. lo (lelect material misstatements in respect of irregularities, including fraud. The spectfic procedures for this engagement and the extent to which these are capable of detecting irregularities. including fraud is detsiled below.. Enquiry of management and those charged with govemance about actual and potential litigation or claims and the identification of non-(x)mpliance wtth laws and regulations. Reviewing minutes of meeting5 of Ihose charged with govemance. Reviewing financial statement disck)sures and testing to supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including testing joumal entries and other adjustments for appropriateness,. assessing whether the judgements rnade in making accounting estimates are indicative of a potential bias- and evaluating Ehe business rationale of any signrficanl transactions that are unusual or outside the normal course of business. Performing analytical procedures lo identify any unusual or unexpected relalionships that may indicate risks of material misstalemenl due to fraud. Professional scepticism in (x)urse of the audit and with audr( sampling in material audit area5.
INDEPENDENT AUDOR's REPORT TO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS -ICont'd Auditorfs responsibilities tor the audit of the financial statements . .ICont'd Because of the inherent limytations of an audit. there is a risk that we will not detect all iffegularities, including those leading to a material misstslement in the financial statements or non-compliance wth regvlalion. This risk increases the more Ihat compliance wtlh a law Dr regulation is removed from the events and transactions reflected in the financial slaternents, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealmenL forgery. collusion. omission or MISpresen1aII0n. A further description of our responsibilities lor the audit of the financial statements is located on the Financi81 Reporting Council's website at= W.fvC.Cg.UkIauditOTsresponslb1lrtke5. This description forms part of our auditor's report. of our report This report is made solety to the charrlable cornpany s Tnembers, as a body, in acix)rdance wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the ch ritable company's members those matter5 we are required to stste lo them in an auditor's report and for other purpose. To the fvllest extent pemiitted by law. we do not accept or assume responsibility to one other than the chartt2ble company and the charitable company s members as 2 body, for our audit k. for this report. or for the opinions we have fonned. an wo en Jones FCA (Senior Statutory Audit) For and on behalf of Myrus Smith, Chartered Accountants and Statutory Auditors Nom)an House, 8 Burnell Road Sutton Surrey, SM14BW (o ?.- 2022 10
THE DIAMOND CENTRE FOR DISABLED RIDERS STATEMENT OF FINANCIAL ACTMTIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2020 Restrtcted funds 2020 Total ftjnds 2021 Total funds 2020 Income from: Donations and legaues Charitsble activities Other trading aGtivities Investments 77,418 73.967 43.253 41,503 100.231 177,649 73,967 43,253 43,000 232.870 78,668 12.526 39,445 1,497 Total 236.141 101.728 337.869 363,509 Expenditure on: Raising funds Charitable actiwlies 9.304 307,029 9,304 407.260 11,955 306.782 100.231 Total 316.333 100.231 416,564 318.737 Net incomellexpenditurelbefore Investment gains and losses 180.192) 1.497 178.6951 44,772 Nel gainl(lossl on investments 13 224.260 3.715 227,975 148,6661 Net incomellexpenditurel 10 144,068 5.212 149.280 {3,8941 Transfers between funds 17 1.497 11.497) Net movement in funds 145.565 3.715 149,280 13.8941 Reconclliation of funds- Total funds brought fOard 17 1.844.977 31,678 1.876,655 1,880,549 Total funds carried forward 17 £1,990,542 £35.393 £2,025,935 £1,876,655 l income and expenditure derives from continuing aCtie5. The Statement of Financial Actiwties indudes all recognised gains and losses. The notes fomi part of these financial statements. 11
THE DIAMOND CENTRE FOR DISABLED RIDERS BALANCE SHE AS AT 31 DECEMBER 2021 Nots5 2021 2020 FIXED ASSETS Tangible assets Investments 12 13 104.848 1.551.188 108,601 1,323,064 1.656,036 1,431,665 CURRENT ASSETS Debtors Cash at bank and in hand 14 17,735 364.676 11.991 448,416 382,411 460.407 CREDITORS: amounts falllng due within one year 15 12,512 15.417 NET CURRENT ASSETS 369.899 444,990 NET ASSETS 2.025,935 £1,876.655 FUNDS Unrestricted Restricted 17 17 1.990,542 35.393 1,844,977 31,678 17 £2.025,935 £1,876,655 These finanGial ststements have been prepared in a(x))rdance wth the spec4al provisions of Part 15 of the Compantes Act 2006 relating to small ¢1panIeS. Approved by the Trustees on g JLVLC 2022 and signed on their behalfby.. S Axon, Trustee er. nJslee The notes form part of these financial Statements. 12
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. AGGounting policies General information and basls of accounting The Diamond Centre for Disabled Riders is a registered charity (No. 10459701 and private company limited by gu2ranlee (No. 031)426591 registered in England and Wales. The liability in respect of the guarantee is limited to £1 per member. The registered oifice 15 given in the Administrative IF)formation onpage1. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Repoitng by Charities-. Statement of Recommended Practice applicable lo charities preparing their aceount5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued in October 2019, the Financial Reporting Stsndard applicable in the United llngdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Cornpanies Act 2006 and UK Generally Accepled Accounting Pracb'ce. The financial stalements are prepared on a goiThJ concem basis and under the hisloiscal wst conventiorTr modrfied lo include certain items at fair value. The significant accounting policies applied in the preparation of these finanual statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Fund accounting Unreslricted funds are those funds which are freety availab for use in furtherance of the objects of the charity. Designated unrestricted funds are those funds which have been earrnarked for specific purposes or projects by the Trustees. Reslricted funds a those fvnd5 which can only be used in accordance the wishes of the donor or which have been raised for a particular purpose. Policies relating to categories of income and Income racognltion. Nature of income Gross income represents the fair value. net of value added tax and diswunts. of goods provided lo customers and work carried out in respect of seryices provided to customers. Categories of income Income is categorised as income from exchange transactions (contract income) and income from non- exchange transactions {gÉfts), investment income other income. Income from exchange transactions is Tlved by the charity for goc#Js or ServiS supplied under contract or where entitlemenl is subject to fiJlfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or servi$ supplied by the charity to Ihe purchaser. Income from a nonxchange transaction is where tr¢e chatity receives value from the donor without providing equal value in exchange, and includes donab.ons of money. goods and services freely given wTthoul giving equal value in exchange. Income recognition Income, whether from exchange or nonxchange transactions. is recognised in the statement of financial activilies ISOFA) on a receivable basis. when a transaction or other event results in an increase in the charity's assets or a reducllon in its liabilities and only when the charity has legal entitlement, the receipt is probable and the amount can be measured reliably. 13
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Iconid... 1. Accounting policies...ICont'd Income recognition...Icont'd Income subject lo temis and condition5 which musl be met before the charity is entided to the resources is not recognised until the conditions have been met. All incorne is accounted for gross, before deducting any related fees or costs. Income frorn legacies Income from legacies is recognised when the chartty has sufficient evidence that a grft has been left to them, that where required, probate has been granted, the executor is sab"sfied that the propety in question will not be required to sat.sfy claims in the estste, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met. Where a payment is received from an estate or is llottfied as receivable by the executors after the reporting date and before the accounts are authorised for issue but il is clear that the payment had been agreed by the executors prior to the end of Ihe reporting period, then the amount concemed is treated as an adjusting event and accnjed as income in the accounting period if re19t is probable. Where the charity has established entitlemenl lo a legacy but there is uncertainty as to the amount of the payment, details of the legacy are disclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a lrfe tenant, the legacy 15 not recognised as income until the death of the life tenant. If il is doubtful that full Settlement of a legacy debtor wtll be received, then an adjustment is made to reduce the amount of the legacy deblor and legacy income rather than charging the adjustrnent as expenditure in the Statement of Finanaal Actiwties. PoliciTe5 relating to expenditure on goods and services provided to the charity. Recognition of liabllrtTeS and expendire A liabilily. and the related expenditure. is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated. Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required lo settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision 15 increased to reflect any increases in liabilities. and is decreased by the utilisation of any provision within Ihe period. and reversed if any provision is no longer required. These movements are charyed or credited to the respective funds and aCvItieS to which the provision relates. Direct costs relating to a particular activty are alb)cated directly: support costs are allocate(l on the basis of staff time. Govemance costs {included in SUPFK)rt costs) include those costs associated with meeting the constitutsonal and stalulory requirements of the charity and include audit fees. Expendilure on raising funds indudes those cosls incurred on atÈracting donations and grant funding. Volunteers In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers. the contribution of volunteers is not included within the incotne of the charity. 14
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... Accounting policleslcontd... Pollcles relatlng to asse liabilities andprovisions and other matters. Fixed asset investments Fixed asset investments in quoted Shares. traded bonds and similar investTnents are initially recognised at cost upon acquisition and subsequently remeasured at fair value at the end of the financial period. AJI gains on fixed asset investmenls. whether realised or unrealised. are recognised in the Ststement of Financial Activities. Tangible fixed assets Tangible fixed assets are measured at their original cost value. or if donated. as described above. Cost value includes all costs expended in bringing the asset into tls intended working condition. Depreciation has been provided at the following rates in order to write off the assels to their anticipated residual value over their estimated usehjl lives. Ponies Fixtures, fittings and equipment Plant and machinery Agricultural vehicles 1 OOYO straight line 10¥. 20% straight line 10% - 20Vo straight line 20% straight IiT)e Stocks and WO in progress stock is valued at the lower of cost and net realisable value. Debtors Debtors are measured at their recoverable amounts at the balance sheet date. Liability to taxatlon The Trustees consider that the charity satlsfies the tests set out in Paragraph 1, Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3, part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusivety on the spectfic charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statemenl of Financial Acts"vrb"es. Pension costs The charity operates a defined contribution pension scheme. Contributions payable under the scheme are th8rged the Statement of Financial Actimties in the year to which they relate. Debtors and creditors Debtors and creditors with no stsled interest rale and receivable or payable within one year are recorded at transaction pri. Any1055es arising from impairments are recognised in expenditure. Government grants The charity received government support through the Coronavirus Job Retention Scheme and Kickstart Scheme which is accounted for in accrual model. 15
THE DIAMONCI CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMErs FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... Donations and legacies Unrestricted funds Restricted funds Tot31 2021 Total 2020 Donations Legacies Grants Sponsorship 48.425 28,993 5,837 54,262 28,993 59,821 34,573 105,180 50,000 55,890 21,800 59,821 34,573 £TI,418 £100,231 £177,649 £232,870 Of the £232,870 recognised in 2020. £144.934 relaled to unrestricted funds and £87.936 related to stricted funds. Inme from ¢harltable activities Unrestricted Restricted nds funds Total 2021 Total 2020 Courses and lessons Riding fees Special events Sundry receipts 34,926 38.305 127 609 32,957 39.708 289 5,714 38.305 127 609 £73,%7 £Nil £73.967 £78,668 l of the £78.668 recognised in 2020 related to unrestricted funds. Income from other trading activities Unrestricted Restricted funds funds Total 2021 Total 2020 Fundraising events Letting and licencing of propety 25.683 17,570 25,683 17,570 1,121 11,405 £43.253 £Nil £43.253 £12,526 All of the £12.526 recognised in 2020 related to unrestricled funds. Investment income Unyestricted Restricted funds funds Total 2021 Total 2020 Dividends and interest frLYn listed investments Bank interest 39.796 1.707 1.497 41,293 1,707 33,733 5,712 £41.503 £1,497 £43,000 £39,445 Of the £39,445 recognised in 2020, £38.089 related to unrestricted funds and £1.356 related to reskncled funds. 16
THE DmOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... Cost of raising fund5 Direct costs Support Costs Total 2021 Total 2020 Publicity and marketing Investment management 5.791 3,513 5,791 3,513 1.685 10,270 £9,304 £Nil £9,304 £11,955 l of the £11.955 expenditure recognised in 2020 was charged to unrestricted funds Cost of charttable activities Direct costs Support costs Totsl 2021 Total 2020 Riding and carriage driwng £185.320 £221.940 £407,260 £306.782 Of the £306,782 expenditure recognised in 2020. £219.369 was charged to unrestricted funds and £87,413 was charged to restricted funds. Analysis of direct costs Raising funds Charitable activities Total 2021 Total 2020 Salaries. Nl and pension costs Upkeep of ponies Training and instructi( Driving gTOUP Special events Agricultural vehide costs Investment management fees Pkjblicity and markeb.ng 135.644 38.201 3,505 383 328 7,259 135,644 38,201 3,505 383 328 7,259 3,513 5,791 142.618 31,982 1.604 12D 3.513 5.791 10,270 1.685 £9.304 £185,320 £194,624 £195,123 17
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... Analysis of support costs Raising fund Charitable activiti?5 Total 2021 Total 2020 staff costs Salaries, Nl and pension costs Sundry costs lincluding uniforml 104,930 3.440 104.930 3,440 47,959 1,001 Premises ¢osts Rates and water Light, heat and power Cleaning M8intenance of premises Groundsmen 4.325 8,089 2,228 14,330 6,453 4,325 8.089 2,228 14,330 6,453 2,402 4,660 2.398 11,377 4,720 Administrative overheads Telephone Postage, statsonery and copyng Insuran Sundry exnSeS Maintenance and hire of equipment 1.907 532 18,300 9,957 1,513 1.907 532 18.300 9,9S7 1,513 1,835 739 17,018 6,386 3,460 Professional fees Other legal and professicfftal costs 3.635 3.635 379 Finance costs Bank charges Depreciation 342 38,359 342 38,359 92 15,148 Govèrnance costs Audit fees 3.600 3,600 4,040 £Nil £221.940 £221,940 £123,614 10. Net incomel{expenditure) 2021 2020 This is ststed aftar charging: Depreciation Pension Costs- Defined contribution schemes Auditor's remuneration £38,359 £7.418 £3.600 £15,148 £7,611 £4,040 18
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 IGorrtd... 11. Staff costs 2021 2020 Wages and salaries Social security Employer pension costs 226,858 6,298 7,418 176,574 6,392 7,611 £240,574 £190.577 One employee {2020= nil) received totsl employee benefits lexduding employer pension costs) exeding £60,000 per annum as follows.. £60.000 - £70,000 £70,000 - £80,000 2021 2020 The total employee benefrts reiVed by Key Management Petsonnel amounted lo £125.10812020 '. £79,522). Under FRS 102, employee benefrts indude gross salaries. benefits in kind, employer's national insurance and employer's pension costs. The total amount paid in redundancy and termination payments in 2021 was £50.00012020.' nill. All amounts due have been fully paid and expended, and relate to confidential agreements irb compensation for Ios5 of offi. The number of stsff Ifull-tirne) equivalent during the year 2021 Number 2020 Number Full-b'me Part-lime Total 13 13 2021 Number 2020 Number Average number of employees 13 13 19
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... 12. Tangible fixed assets Land and Building5 Plant and Machinery Motor Vehicles Total Cost Al 1 January 2021 Additions Disposals 572.114 179,032 34,606 11,5001 36,465 787,611 34,606 11,5001 Al 31 DeMber2o2l 572.114 212,138 36,465 820.717 DePClation Al 1 Jarjuary 2021 Charge for the year Dispos81s 517.142 126,271 38,142 11.5001 35,597 217 679.010 38,359 (1.5001 At 31 December 2021 517,142 162.913 35,814 715.869 Net Book Value At 31 December 2021 £54.972 £49.225 £651 £104.848 At 31 December 2020 £54,972 £52,761 £868 £108.601 13. Investments 2021 2020 Listed investments Fair value brought forward al 1 January 2(r21 Additions at cost Disposals al opening fair value Revaluation gainslllossesl 1.323,064 1,364,916 {1.295,2941 158.502 1,385,090 904,207 11,041,987> 54,101 1.551.188 1,301.411 Cash held for reinvestment 21,653 Fair value carri foThvard at 31 December 2021 £1,551,188 £1,323,064 The historic cost of listed inve5trnents at 31 December 2021 wa5 £1.383.90512020 .. £1,222,844). 2021 2020 Analysis of investment gains Unreali5ed gains on revaluation Realised gainslllossesl on disFY)sal 158.502 69,473 54,101 1102,7671 £227,975 £148,666) Of the £48,666 investment losses recognised in 2020. £42.837 related to unrestn.cted funds and £5,829 related to restricted funds. 20
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... 14. Debtors 2021 2020 Trade debtors Prepayments and accrued income 3.110 14.625 935 11,056 £17,735 £11,991 15. Creditors: Amounts falling due wthin one year 2021 2020 Trade cdItorS Other creditors Ac¢nJed expenses 6,807 529 5,176 4,329 150 10,938 £12,512 £15,417 16. Analysis of net assets between funds Fixed assets Current assets Current liabllitie5 Net assets 2021 UnrestrTCted Funds Restricted Funds 1.624,551 31,4&5 378.503 3,908 112,5121 1,990.542 35,393 Al 31 December 2021 £1.656.036 £382,411 £112,512) £2.025,935 Comparative infomiation for the analysis of net assets betsveen funds is as follows: Analy515 of net assets tween funds Fixed assets Current assets Current Net Assets 2020 Unrestricted Funds Restricted Funds 1.403.895 27,TTO 457,229 3,908 116,1471 1,844,977 31,678 Al 31 Deceynber 2020 £1,431.665 £461,137 £116,147> £1.876,655 21
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Icontd... 17. Movement Tn fund5 Balance brought forward Gainl{10551 on investments Transfers Balance carried forward 2021 Income Expenditure Uhrestricted funds General 1.844.977 236.141 (316.333) 224,260 1.497 1,990.542 Restricted funds Andrew Ballardie Trust other restricted reserves 24,372 7,306 1.497 1.231 3.715 11,497) 28.087 7.306 {100,231) 31.678 101.728 {100.231) 3.715 11,497) 35,393 £1.876.655 £337.869 £1416,5641 227.975 £Nil £2,025,935 Comparative infomiation for the analysi5 for the movement t*een funds is as follows". Movement in fund Balance brought foThvard Gainlllossl on investments Transfers Balance carried for•vard 2020 Income Expenditure Unrestricted funds General 1,843,565 274.217 1231.3241 (42,8371 1.356 1,844,977 Re$trl¢ted funds Andrew Ballardie Trust Other restricted reserves 31,634 5.350 1.356 87.936 {1.4331 185,9801 {5.8291 {1,3561 24.372 7,306 36,984 89.292 187.4131 {5.8291 11,3561 31,678 £1,880.549 £363.509 £1318.7371 £148,666) £Nil £1,876,655 General Fund- This unrestricted lund is available to be spent for any of the purposes of the charity. Restsicted funds Andrew Ballardie Trust This is a fund established to provide an income suffiryent to cover the costs of the annual open day. These represent the balan of restricted donations and grants received for specific purposes. but not yet expended on those purp05e5. Other Restricted Fun(Is 18. Related Party Transactions The trustees received no remuneration and £60612020: £nill reimbursed expenses during 2021 for travel for 1 Iruslee12020.' nill. There were no related paty transachons in 2021 (K 2020 other than set out in Note 11 relating lo employee benefits received by key management personnel.