THE DIAMOND CENTRE FOR DISABLED RIDERS (Registered Charity No: 1045970) (Company No- 03042659) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE DIAMOND CENTRE FOR DISABLED RIDERS Contents Page Reference and Administration Details Trustees, Annual Report Independent Auditorfs Report 8-10 Slatement of Financial Activilies Balance Sheet 12 Notes to the Financial Statements 13-23
THE DIAMOND CENTRE FOR DISABLED RIDERS REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022 Company Narne The legal name of the charity is The Diamond Centre for Disabled Riders. Charity Registration Number The charity is registered in England & Wales wtth the Charity Commission with charrty number 1045970 Legal structure of the charity The governing document of the charty is Ihe Memorandum and Articles of Association establishing the company under company legislation. The company wistrats.on number is 03042659. The Goveming Document is dated 6 April 1995 (amended on 17 Aprrl 2000}. By operation of law all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities under both company and charity legislation. Regist8red Office and Principal Address The Diamond Centre for Disabled Riders Woodmansteme Road Carshallon, Surrey SM5 4DT Telephone: 020 8643 7764 Email Address. adn IllTr &.d";amondcp.ntre.or Web address.. diamondcentre.org.uk .uk Trustees The Trustees in office during the year and on the date the report was approved were all members of the Charity.. Claire Snowdon (chair from 2 February 2023) Steve Axon (chair until 1 February 2023} Robert Mathews Sandy Pfeifer Katie Hobden Carol Bedwell Matthew Taylor Tina Edwards Ann Stuart served as a TnJstee during the year and resigned on 2 February 2023. Bankers HSBC plc 16 King Street Covent Garden London. WC2E 8JF Investment Advisors CCLA Investment Management 85 Queen Victoria Street London EC4V 4ET Auditors Myrus Smtlh Chartered Accountants Nomian House 8 Burnell Road Sutton Surrey, SM14BW
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 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 8 member of the national Riding for the Disabled Association {"RDA"I. The object of the Centre is to provide disabled people with the opportunity to ride andlor carriage driv8 10 benefit their health and Well-being and achieve their goals. 11 is now widely recognized that disabled people can benefit educationally, physically and mentally from riding or c3rriage driving and we will encourage this leaming process and ils progression. The Centre provides unique hors&riding facilities to beneffl disabled children and adults by having regular contact with horses. Our actsvttses include Riding, Carriage Driving. Vautting.. Hippo-therapy and Dressage and our aim is lo be one of the best riding centres for the disabled in the country and to provide horse riding and related equine therapies for everyone that needs il in our area. Activities are provided by our staff, instructors and volunteer5, all of whom are fully qualified for their rdevant tasks and attend training courses related to providing horse riding for people wtth phystcal disabilty and leaming drfricullies. Our most important people are our riders, vautters and drivers and we are committed to ensuring our facilities and Servi will be maintained at the highest levels so as to provide every opportunity for every disabled person lo achieve their goals. Our riders, vaulters and drivers 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 gives them the chance to be independent and a sense of achievement. We rely heavily on our volunteers and call on over 200 unpaid helpers each week. These volunleers are essential for the day-tO•day operation of Ihe centre, and include instructors. who undertake most of our riding classes. and other volunteers who so willingly assist the riders and drivers in their lessons. not forgelling the many hours they spend grooming our horses and attending training courses. In addition, we have a team of volunteers who 8SSlSt so pleasanuy in our Shop and Servery. a talented gardening team and Ihe 'A-Team' _ our skilled maintenance team. Achievernents and Performance Horse Ridin We have a maximum estimated capacty to provide riding to 350 disabled individuals each week. Starting the year as the UK was Still amid the COVID-19 pandemic (Omicron variant). we had 280 weekly riders, being 80 /0 of our full capacty of 350 riders. By the end of 2022. we had re-buill our riding activities with 157 regular disabled individuals benefitting from weekly individual and group lessons, and a full weekly schedule of school groups Ic150 ridersl- We currently have 20 vacancies and are back to just under 90 /0 of full capacity. The wailing list is actively managed. most are awaiting additional infotTnation or an assessment. Carria e Drivin We r&started carriage driving after being cleared by Sutton Council and the ROA in March 2022. Unfortunately, activities had to be suspended from July 2022 due to the lameness of our trained pony, Daisy. Non Ridin Activities In March 2022 upon approval from RDA. we added Tea With A Pony. to our activities and are conducting regular sessions at least monthly. Infrastructure 2022 was a very big year for upgrading our physical infrastructure. In May, we upgraded our broadband to BT'S full fibre optic 100mbps service. whilst we migrated our database server to a cloud-based solution to improve security and en2ble remote access, and in September enhanced the car park lighting. Vve invested £127k in capital expendilure. including.. Roofing for outbuildings (part funded by Sutton Council Neighbourhoc%J grant},' A new fire protection system", Roller shullers for outbuildings.. Driving carriage {part funded by Lottery-Awards for All- grantl-, Servery interior upgrade including new flooring and windows. a more welcoming colour schème, fixed fumiture for hals and boots (part funded by donalions from Amos Foundation and Screwfixl.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 -IConl'd SES Pi eline Work on the 'SES How Green l Langley Park Pipeline" continues. AJI construction work was completed in December but we understand the pipeline needs lo be tested before being put into operation, after which our land can be re-seeded. Compensation claims are being pursued, while SES has been approached for a goodwill 'community' payment for a project for Diamond IFK)ssibly a Sensory Trackl lo recognise the value of Diamond to the local community- We are hopeful our fields can be re-seeded in the spring 2023. Horses We started 2022 with 23 horses. and this went down to 22 when we sold Saffron in January as a brood mare, after many months of persistent injury. We sadly had to put down Boris (April), Ajfie {Junel and Addy (November) but we managed to acquire 6 new horses during the year - Maty, Gypsy, Romeo, Rousey, Bobby, and Dom. At year end we had 25 horses but had lo let Gypsy go in January 2023 as she prove(I unsuitable for disabled riding. Slaffin We continued our participation in the UK govemmenl's Kickstart programme where we took on two young adults for 25 hour5 per week for 6 months. work experien. Our final Kickstart employee finished in eady September when the scheme closed. This left us short on yard staff and we look on an experienced fomier Kickstarter Katie Stuart from mid-september until end Febnwry 2023. Sophie Mitchiner left us in January 2023 after 7 years, service. The TTUStees would like to express their thanks lo Sophie. Her role has been replaced by Hannah Prior, who has been a regular volunteer and resident al the Centre for several years. Trustees Steve Lxon stood down as Chair of the Board of Trustees at the beginning of February 2023. having resumed the role in 2020 after originally slepping down earlier that year. The Board would like lo register ils thanks lo Steve and we are fortunate Steve is staying on as a member of the Board. Ann Stuart resigned from the Board on 2 February 2023. and the Board would also like lo thank Ann for her service since joining in October 2021. Volunteers A Volunteer Survey was conducted in September and a suLFcommittee of staff and volunteers and formulating a full action plan. While the feedback was very positive, the survey identified areas for development. for which action plans are in progress. Pam Collins, a long lerm volunteer particulady in the servery and at external events. stood down at Ihe end of 2022. The Board would like to register its appreciation of all the work done and funds raised by Pam over many years of SerVe to our charity. Non-Disabled Ridin We continued to provide lessons for norFdisabled ers, and welcomed non-volunleer riders. subject to an initial assessfflent. The non4isabled riding lessons benefitted the charity in several ways. Firstty, by keeping the horses exercised and schooled, without requiring staff. Secondly. by generating £43,000 income12021'. £33,000) in the year, which paruy offset the reduclion in incotrte from disabled riding. And thirdly. by promoting Diamond in our local community. generating interest from new riders in becoming future volunteers. Events A Horse Biomechanics demonstration was held on 28 May, very well attenéed by over 90 people, in our main indoor arena. Two Christmas events were held this year- an Open Day with riding demonstrations on 4 December and a concert of Seasonal Music on 11 December with the Sutton Rock Choir. This latter event induded the presentation of volunteer awards, and was accompanied by mince pies and mulled wine.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 -ICont'd Public Benefit The Trustees have had regard to the guidance issued by the Chartty Commission on public benefiL With an increasing number of people suffering from physical disabilities and learning difficulties, the public can benefit greauy from horse riding and carrtage driving as a therapy. The Centre strives to accommodate this increasing demand by structuring lessons and actNities to cater for as wide a range of clients as possible. The number of schools that ride at the ntre has been maintained over the year which benefits not just of the riders but also the school's curTiculum and the riderfs parents and carers. In addition to regular riding Classes during lem)-time, an increasing number of other activities and events are held during the school holidays lo the benefit of the riders. families and rers. 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 indNiduals and organisalions in our local community, as well as our volunteers and corporate donors. Our thanks 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 always to keep riding affOrdae and we continue lo heavily subsidise all our rKfing activities from income and donations. Fundraising & Events We held several events during the year as well as raising thnds from our servery. induding clothing and refreshments. Our main on&off events included- Autumn Fair - our main annual fundr2i5ing event was again a resounding suCS with an estimated 2.500 visitors, and a profit of over £16,000. We were grateful for sponsorship of £1,000 from the Surrey Masonic Sports Association. Lavender Fields event - this evening event in July. which included music from the Banstead Show Choir, raised just under £3,000. Mike Watson s onsored walk - our volunteer and ex-Trustee raised over £3,300 from a sponsored 80 km walk through the Yorkshire dales. ht- our popular event was held in November and raised over £1.600. Donations incl horse s onsorshi Total donations & horse sponsorship was £135.166. This was £46,331 higher than 2021 1£88,8351, We were very grateful for all donab'ons and wish to note with gratitude the following non-personal donations over and equal to £5,000". Sutton Centre for Independent Living £20,102 Bryan & Julie Amos Founda&'on £10.000 Apax Foundation £5.100 Trevor Fund £5,000 Screwfix Foundation £5.000 Grants Total grants received were £49.216. comprising- Kickslart Scheme1£17,8531 for young adult training opportun¢bes Sutton Neighbourhood Fund {£21,363) for outbuilding roof improvements Lottery Grant {£10,000} for horse carriage In accordance with charity accounting rules. the latter iwo grants will be amortised over the corresponding depreciation period for the asset purchased with the funds received.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 -IConl'd acies We were extremely grateful to receive 2 legacy for £5,000 from the estsle of Peter Leonard Campbell. Financial review The charity's financial position at the end of the year ended 31 Dernber 2022 and comparatives fi)r the prior period, as more fully detailed in the accounts. can be summarised as follows: . 2022 2021 Nel (expenditure) l income £1158.4461 £149,280 Unrestricted Revenue Funds Restricted Revenue Funds 1,833,752 33,737 1,990,542 35,393 Total Funds £1.867,489 £2.025,935 Financial review of the position at the reporting date, 31 December 2022 The Net (expenditure) l income shown in the table above can be further broken down as follows- 2022 2021 Net operating result before legacy income & investments One-off legacy income Revaluation of investments £15.022 £1107.6881 £5,000 £{178,4681 £28,993 £227,975 Net in¢ome I lexpeTKlitttre) £1158.446) £149,280 The operating result from core operations before one-off legacy income and investment accounting was significantly higher than the previous year, by £122.710. This reflects mainly the recovery of operations back to full scale after the Covid-19 pandemic. and a very successful year in donattons and fundraising. Net income was howèver affected adversely by a £178,468 revaluation of investments. This reflects the poor perfomiance in global equity markets. Our CCLA fu1 recorded a 9°h decline in the year, in line with comparable funds. Principal risks and uncertainties The Trustees are cognisant of several material risks facing the Centre, and this is reected in the conservab've reserves policy adopted. Risks and uncertainties include lil heallh of our horses. where for example a contagious disease could significandy interrupt our programme of activities. (li) damage tr) our infrastructure caused by adverse weather. storm, file, or other causes. {iii} UnfOresn building and maintenance costs on our ageing physical infrastructure livl accident or other incident which causes personal injury and reputational damage.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 -IConl'd Policies on reserves Trustees believe that the current level of reserves is appropriate given the risks outlined in this report. and the possibility of having to upgrade our infrastructure further in order lo maintain a safe and secure and sustainable operation. Trustees maintain an ongoing objective of delivering a balanced operating budget year lo year, while utilising reserves to upgrade and enhan our horse riding and related facilities. Availability and adequacy of assets of each of the funds The Board of Trustees is satisfied that the charity's assets in each hjnd are available and adequate lo fulfil ils obligations in respect of each fiind. Investment policy and investment obieetives The investment objective is lo seek a total retum (xsmtK)sed of capital gains and income sufficient lo preserve the real value of the portfolio against inflation, with a focus on income utilising a balanced and diversrfied blend of assets with a medium rrsk profile. Membership As al 31 December 2022, the Centre had 104 acttve members 12021= 112). Membership is open lo those supporting the Cenlre's work. Structure, governance and management of the charity Under the conslitub.on and Articles of Ass4xiation of The Diamond Centre for Disabled Riders, the Trustees are ultimately responsible for all aspects of govemance,. for ensuring the aims of the charity are upheld, overseeing strategy., safeguarding the charities assets.. development and ensuring the charity is sustainable. The charity is also a limtted company by guarantee. The day-l(>day management of the centre is devolved to the Centre Manager and Staff. The methods used to reeruit and appoint new charity trustees When new or additional trustees are recnjited. they are elected by the Members or c(Fopted by the Tnjstees. All Trustees are also Members, and support the Objects of the charity. as set out above. The Trustees retire al each Annual General Meeting l-AGM"l of the charity- Trustees may then stsnd again and may be reappointed by the Members. Co-opted Trustees hold Offi unb"I the next AGM, when they retire bul may stsnd as Trustees and put themselves forward for electK>n by the Members.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 -.ICont'd Trustees. responsibilities statement The Trustees {who are also directots of The Diamond Centre for Disabled Riders for the purposes of company lawl are respo.nsible 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 Practice). Company law requires the Trustees to prepare financi81 stalements 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 stale of affairs of the Charitable company and of the incoming resources and application of reSoUrs. including the income and expenditure, of the charitable company for that peri¢Jd. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently-. Observe the methods and principles in the Chartties SORP 2019 IFRS 102).. Make judgements and accounting estim2tes Ihat are reasonable and prudent; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will ntinue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disdose with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to disclosure of inforniation to auditors The trustees state that so far as each of the trustees at the time this report was approved are aware.. - There is no relevant audit infom)ation (as defined by sectlon 418(3) of the Companies Act 2006) of which the charitable company s audtlor is unaware. and b) The trustees have taken all steps that thèy ought to have taken to make themselvès aware of any relevant audit infomiation and establish that the auditoi is aware of that infom)alion. In preparing this report. the Trustees have taken advantage of the small companies exemptions provided by section 415A ofthe Companies Act 2006. This report was approved by the Trustees 16 March 2023 and sIgr on their behalf by C Snowdon Director and Trustee
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS Opinion We have audited the financial statements of The Diamond Centre for Disabled Riders (the 'charitable company I for the year ended 31 December 2022 which comprise the Stalemenl of Financial Aclivilies, the Balance Sheet and notes to the financial slatemenls, 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 Reporttng Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireiand (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the stste of the charitsble company s affairs as at 31 December 2022. and of its incoming resources and application of resources. including its income and expenditure, for the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance wrth the requirernents of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wtth Intemational Standards on Audtting IUK} {ISAs IUK}} and applicable law. Our responsibilities 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 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have conduded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have nol identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability lo continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our resp)nsibilities and the responsibiif(ies of the tnjstees with respect to going concem are described in the relevant sections of this report. Other infomiation The other infom)ation comprises the infomiation induded in the trustees. annual report. other than the financial statements and our auditor's report thereon. The trustee5 are responsible for the other information contained within the twstees. annual report. Our opinion on the financial statements does not cover the other information and, exp1 to the extent otherwise explicitly ststed ir¢ our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other infomiation is fflaterially inconsistent with the financial statements or our knowledge obtained in the course of the audil or othervrise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on Ihe work we have performed, we conclude Ihal there is a material misstslement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our OPiF)ion, based on the work undertaken in the course of the audtt: the infomalion given in the trustees. report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial 5talements,' and the directors, report has been prepared in accordance with applicable legal requirement5.
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS ..IConYd Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not idenbfied material misstatemenls in the directors. report. We have nothing to report in respect of the following matters in relatson to which the Companies Act 2006 requires us lo report to you rf. in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns.. or certain disclosures of directors. remuneration spectfied by law are not made,. or we have not received all the information and explanations we require for our audit- or the trustees were not entiUed lo prepare Ihe financial statements in accordance with the small companies, regime and take advantage of the small companies. exemptions in preparring the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more ftjlly in the Iruslees. responsibilities statement, sel out on page 7, the trustees {who are also the directors of the charttable Ix)mpany for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material fflisstalement. whether due to fraud or error. In preparing the financial ststements. the trustees are respons1le for assessing the charitable company's abilty to continue as a going concem, disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to IKiuidale the charitable company or lo cease operations, or have no realistic aliemative but to do so. Audltorfs responsibilities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to traud or error, and to issue 2n auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that an audil conducted in accordarice with ISAS (UK) will always detect a material misstslement when il exists. Misstatements can arise from fraud or etror and are considered material rf. individually or in the aggreg81e, they could reasonably be expected to influence the economic decisions of useTS taken on the basis of these financial statements. Irregularities, induding fraud, are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibiltties. outlined above, lo delect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagemenl and the exlenl to which Ihese a capable of detectsng irregularities, induding fraud is detailed below= Enquiry of management and those tharged with govemance aut actual and potential litigation or claims and the identfficalion of non-compliance wÉth laws arKI regulations. Reviewing minutes of meetings of those charged wtth govemance. Reviewing financial statement disdosures and testing to supporbng documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls. inciuding testing journal entries and other adjustments for appropriateness-, assessing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstalemenl due lo fraud. Professional scepticism in coutse of the audit and with audit sampling in material audit areas.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DIAMOND CENTRE FOR DISABLED RIDERS -IConYd Auditotrs responsibilities for the audit of the financial staternents . .ICont'd Because of the inherent limitations of an audit. there is a risk that we will not delect all irregularities, including those leading to a material misslatemenl in the financial slatements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instances of ntsn- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concBalment. forgery. collusion. omission 01 misrepresentstion. A further description of our responsibilib.es for the audrt of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uklaudilorsresponsibiltb.es. This description form5 part of our auditor's report. Use of our report Thi Pa ch no rewrt is made solely lo the charitable company's members. as a body, in accordance with Chapter 3 of 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the ritable company s members those matters we ale required lo state to them in an auditor's report and for other purpose. To the fullest extent permitted by law. we do not acp1 or assume responsibility to one other than the charitable company and the charitsble company's members as a body, for our audit k, for this report. or for the opinions we have formed. an Fora en Jones FCA (Senior Stsiulory Auditor) d on behalf of Myrus Smith. Chartered Accountants and Statutory Auditors Norman House. 8 Burnell Road Sutton Surrey, SM148W 16 March 2023 10
THE DIAMOND CENTRE FOR DISABLED RIDERS STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted funds 2022 Rèstricted funds 2022 Total funds 2022 Total funds 2021 Income from: Donations and legaGies Charitsble activities Other trading activities Investments 102.919 148.781 60,815 40.767 37.764 17.853 140,683 166,634 60,815 42,446 127,348 124,268 43,253 43,000 1.679 Total 353,282 57,296 410,578 337,869 Expenditure on- Raising funds Charitsble acliwties 9.466 325.571 9,466 381.090 9,304 407,260 55,519 Total 335,037 55,519 390.556 416,564 Net in¢omel{èxpenditurelbefore Investment gains and losses 18.245 20,022 178,6951 Nel gaiTrlllossl on investments 13 (176.714) 11.754) 1178,4681 227,975 Net incomellexpenditure} 10 1158.4691 23 1158.446) 149,280 Transfers beeen funds 19 1.679 11,679) Net movement in funds (156.7901 11.6561 (158,4461 149,280 Reconciliation of funds: Totsl funds brought fOard 19 1,990.542 35.393 2.025.935 1,876,655 Total funds carried forward 19 £1,833.752 £33.737 £1,867.489 £2,025,935 l income and expenditure derives from continuing activib"es. The Statsment of Financiai Activitses indudes all recognised gains and losses. The notes fomi part of these finanual statements.
THE DIAMOND CENTRE FOR DISABLED RIDERS BALANCE SHEET AS AT 31 DECEMBER 2022 Notes 2022 2021 FIXED ASSETS Tangible assets Investments 12 13 209.268 1.372,720 104,848 1,551,188 1.581.988 1.656,036 CURRENT ASSETS Stock Debtors Cash al bank and in hand 2.476 17.490 318,942 14 17,735 364,676 338.908 382.411 CREDITORS: amounts falling due within one year 16 22,S61 12.512 NET CURRENT ASSETS 316,347 369.899 TOTAL ASSETS LESS CURRENT LIABIUTIES 1,898,335 2,025,935 CREDITORS= amounts falling due after more than one year 17 30,846 NEf ASSETS 18 £1.867.489 £2.025,935 FUNDS Unrestricted Restricted 19 19 1.833.752 33.737 1,990,542 35,393 19 £1.867,489 £2,025,935 These financial statements have been prepared in acu)rdance wrth the spe(#al provisions of Part 15 of the Companies Act 2C106 relating lo small companies. Approved by the Trustees on 16 March 2023 and signed on their behalf by: C Snowdon, Trijstee S Pfeifer. Tntslee The notes form part of these financial statements. 12
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMEprrs FOR THE YEAR ENDED 31 DECEMBER 2022 1. Accounting policies General inforniation and basls of accounting The Diamond Centre for Disabled Riders is a registered chaTty (No. 1045970} and private company limrted by guarantee (No. 03042659) registered in England and Wales. The liability in respect of the guarantee is limited to £1 per member. The registered office is given in the Administrative Information onpage1. The charity constitutes a public benefit entty as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019. the Financial Reporting Standard ap leable in the Untted Kingdom and Republic of Irelanij IFRS 1021. the Charrlies Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going tx)ncem basis and under the historical cost convention modified lo include certain items at fair value. The significant accounling policies applied in the preparation of these financial statements are set out below. These policies have been consistenlly applied lo all years presenle(i unless otherwise Stated. Fund accounting UnrestriGted fund5 are those funds which are freety available for use in furtherance of the objects of the charity. Designated unresthcted funds are Ihose funds which have been earmarked for specific purposes or projects by the Trustees. Restricted funds are those fvnds which can only be used in accordance wtÉh the wishes of the donor or which have been raised for a particular purpose. Policies relating to categorles of Incomè and income recognition. Nature of income Gross income represents the fair value. net of value added t2x and discounts. of goods provided to Customers and work carried out in respect of semces provided lo customers. Categories of income Income is categorised as income from exchange transactions {¢ontra¢t income) and income from non- exchange transactions {gifts), investment income and other income. Income from exchange transactions is received by the charity for goods or serviees supplied under contract or where entidement IS subject lo fulfilling perfomiance related conditions. The income the charity receives is approximatdy equal in value to the goods or services supplied by the charity to the purchaser. Income from a non*xchange transaction is where the charity receives value trom the donor without providing equal value in exchange, and includes donations of money. goods and services freely given without giving equ81 value in exchange. Incorne recognition Income, whether from exchange or non-exchange transactions, is recognised in Ihe statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity's assets 01 a reduction in its liabilities and only when the charity has legal entittement, 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 2022 Icontd... 1. Accounting poli¢ies...ICont'd Income re¢ognition..Jcont'd Income subject to terms and conditions which must be mel before the charity is entiJed to th8 resources is not recognised until the conditions have been met. l income is accounted for gross. before deducting any related fees or costs. Income from legacies Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted. the executor is satisfied that the propety in quesb.on will not be required lo satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount lo be recewed can be eslimated with sufFi¢ient accuracy, and that any conditions attached to the legacy are erther within the control of the charity or have been met. Where a payment is received from an estate or is not.fied as receivable by the executors after the reporting dale and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors pnor to the end of the reporting period, then the amount coNmed is Ireate¢J as an adjusting event and accrued as income in the accounbng period rf receipt is probable. whe the charity has estsblished enliuement to a legacy bul 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 rec()gnilion are met. Where a legacy is subject to the interest of a lrfe tenant, the legary is nol recognised as income until the death of ihe lrfe tenant. If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to redLJce the amount of the legacy debtor and legacy income ralher than charging the adjustment as expenditure in the Statement of Financial Activities. PoliTcies rèlating to expendrfure on goods and services pmvided to the charity. Recognttion of liabilitles and expenditure A liability, and the related expenditure. is recognised when a legal or cix)structive obligation exists as a result of a past event, and when it is more likely than not that a transler 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 to settle the obligation are uncertain, give rise to a provision in the accounts, which is revWed al the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the ulilisation of any provision within the period. and reversed if any provision is no longer required. These movements are charged or credited to the respecltve funds and activities lo which the provision relates. Direct costs relating to a particular activity are allocated direcUy-, support costs are allocated on the basis of staff lime. Govemance costs linduded in support costs} include those costs associated with meeting the constitutional and statulory requirements of the charity and include audit fees. Expenditure on raising funds includes those costs incurred on attracting donations and grant funding. Volunteers In accordance with the SORP. and in recognilKTrn of the difficulties in placing a monetary value on the ontribulion from volunteers, the contribulion of volunteers is not included within the income of the charity. 14
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... Accounting policieslcontd... Policies relating to assets, liabilityes andprovlsions and othermatters. Fixed asset investments Fixed asset investrnents in quoted shares. traded bonds and similar investments are initially recognised al cost upon acquisition and subsequently remeasured at fair value at the end of the financial period. I gains on fixed asset investments, whether realised or unrealised. are recognised in the Ststement of Financial Activities. Tangible fixed assets Tangible fixed assets are measured at their original c05t value. or if donated, as described above. Cost value includes all costs expended in brirMJing the asset into tts intended working condition. DepFeciab"on has been prowded at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives. Freehold Buildings {land not depreciated) Ponies Fixtures, fittings and equipment Plant and machinery Agricultural vehides 50/. 100/0 straight line 100 10 straight line 20 /0 Straight line 1001. 20Vo Straight line 20 /0 straight line The grant received towards the cost of fixed assets are recognised using the accrual model and released to income on a straight line basis over the estimated useful life of Ihe assets. Sutton Neighbourhood Grant Lottery Grant 5/0 {amortised for 20 years) 10 /4 lamortised for 10 years) Stocks and work in progress Stock is valued at the lower of cost and net realisable value. Debtors Debtors are measured at their recoverable amounts at the bance sheet date. Liability to taxation The Trustees consider that the charity sats"sfies the tesls set out in Paragraph 1, Schedule 6 of th@ Finance Act 2010 for UK corporation tax pury)oses. Accordingly, the Charity is potentially exempl from laxalion in respect of income or capi(al gains received wthin calegories covered by chapter 3, part 11 of the Corporation Tax Act 2010 or Secbon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusively on the specific 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 Statement of Financial Acb"vtb"es. Pension costs The charity operates a defined contribution pension scheme. Contributions payable under the scheme are charged the Statement of Financial Activities in the year lo which they relate. Debtors and creditors Debtors and creditors with no staled interest rate and receivable or payable within one year are recorded al transaction price. Any losses arising from impaimients are recognised in expenditure. Government grants The chartty received govemmenl support through the Coronavirus Job Retention Scheme and Kickstart Scheme which is accounted for in accnjal model. 15
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... Donatlons and legacies Unrestricted funds Restricted funds Total 2022 Total 2021 Donations Legacies Grants Sponsorship 97,919 5.000 5.682 103.601 5,000 517 31,565 54,262 28,993 9,520 34,573 517 31.565 £102.919 £37.764 £140,683 £127,348 Of the £127,348 recognised in 2021, £77,418 related to unrestricted ftjnds and £49,930 related to restricted funds. Income from charitable activities Unrestricted funds Restricted funds Total 2022 Total 2021 Courses and lessons Riding lees Special events Sundry receipts Govemment grants 44.305 101.773 1.338 1.365 44.305 101,773 1,338 1,365 17,853 34.926 38,305 127 609 50,301 17,853 £148.781 £17,853 £166,634 £124,268 Of the £124.268 recognised in 2021. £73,967 related to unrestricted funds and £50,301 related lo restricted fvnds. Income from other trading activtties Unrestricted funds Restricted funds Total 2022 Total 2021 Fundraising events Letting and licencing of property 44,460 16,355 25.683 17,570 16.355 £60.815 £Nil £60,815 £43,253 l of the £43,253 recognlsed in 2021 lated to unrestricted fvnds. Investment income Unrestricted fvnds Restricted funds Total 2022 Total 2021 Dividends and interest from listed investments Bank interest 40.256 511 1,679 41.935 511 41,293 1.707 £40.767 £1,679 £42,446 £43,000 Of the £43,000 cOgnISed in 2021, £41.503 relaled to unrestn.cled hjnds and £1,497 related to restricted funds. 16
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... Cost of raising funds Direct Costs Support costs Total 2022 Total 2021 Publioty and marketing Investment management 9.466 9,466 5,791 3,513 £9,466 £Nil £9,466 £9.304 l of the £9,304 expendilure recognised in 2021 was charged to unrestricted funds. Cost of charltsble activities Direct Support costs Total 2022 Total 2021 Riding and carriage driving £211.934 £169,156 £381,090 £407.260 Of the £407.260 expenditure recognised in 2021. £307.029 was char9ed to unrestricted funds and £100,231 was charged to restricted funds. Analysi5 of direct $ts Raising funds Charitable a¢tivities Total 2022 Total 2021 Salaries, Nl and penston costs Upkeep of ponies Training and instruction Driving group Special events Agricultural vehide costs Investment management fees Publicity and marketing 146.673 47.944 146,673 47,944 135,644 38,201 3.505 383 328 7,259 3,513 5,791 168 689 12,016 168 689 12,016 9,466 9,466 £9,466 £211,934 £221,400 £194.624 17
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd.. Analysis of support costs Raising fund5 Charitable activitie5 Total 2022 Total 2021 Staff costs Salaries. Nl and pension costs Sundry costs (including unrfom) 52,938 2.892 52,938 2,892 104,930 3.440 Premise5 costs Rales and water Light, heat and power Cleaning Maintenance of premises Groundsmen 6.450 13,247 2.080 15,571 5.885 6,450 13,247 2,080 15,571 5.885 4,325 8,089 2,228 14.330 6.453 Administrative overhead5 Telephone Postage, stationery and copwng Insurance Sundry expenses M8intenan¢e and hire of equipment 3.348 658 20.446 10,642 5.475 3.348 658 20.446 10,642 5.475 1,907 532 18,300 9,957 1,513 Professional feès Other legal and professional costs 3,635 Finance costs Bank d)arges Depreciation 1.226 24,498 1.226 24.498 342 38.359 Governance costs Audit fees 3,800 3.800 3,600 £Nil £169.156 £169.156 £221,940 10. Net Incomellexpenditure} 2022 2021 This is stated after charging= Depreciation Pension costs- Defined corrtribub.on schemes Audilorfs remuneration £24,498 £7,137 £3,800 £38,359 £7,418 £3,600 18
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icorttd... 11. Stsff costs 2022 2021 Wages and salaries Social security EmrAoyer pension costs 182,935 9,539 7,137 226.858 6,298 7,418 £199,611 40,574 No employee12021= 11 received total employee beneffts lexduding employer pension costs) exceeding £60,OCK) per annum as follows- 2022 2021 £70,000 - £80,000 The total employee beneffts received by Key Management PeonTre1 amounted lo £61,75212021 . £125,108}. Under FRS 102, emptoyee benefits indude gross salaries. benefits in kind. employer's national insurance and employer's pension costs. The number of stsff Ifu114ime} equivalent during the year 2022 Numbèr 2021 Number Full-time Part-time Total 13 13 2022 Number 2021 Number Average number of employees 13 13 19
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMETrirs FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... 12. Tangible fixed assets Land and Buildings Plant and Machinery Motor Vèhicles Total Cost At 1 January 2022 Additions Disposals 572.114 61.513 212,138 67,405 I14.0) 36,465 820,717 128,918 {14,000) Al 31 December 2022 633,627 265.543 36.465 935.635 Deprèciation At 1 January 2022 Chaige for the year Disposals 517,142 1,065 162.913 23,216 114,0001 35,814 217 715,869 24,498 {14,0001 At 31 December 2022 518.207 172,129 36,031 726,367 Net Book Value At 31 December 2022 £115.420 £93,414 £434 £209.268 At 31 December 2021 £54.972 £49.225 £651 £104,848 13. Investments 2022 2021 Listed investments Fair value brought forward at 1 January 2021 Additions at cost Disposals al opening fair value Revaluation gains]Ilosses) 1.551.788 1,323,064 1,364,916 11.295,2941 158,502 1178,4681 1.372.720 1,551,188 Cash held for reinvestmenl Fair value carried forward al 31 December 2022 £1.372,720 £1,551,188 The historic cost of listed investrnents at 31 December 2022 was £1.383.90512021 = £1.383,9051. 2022 2021 Analysis of investment gains Unrealised Ilossesygains on revaluatic Realised gains on disposal 1178.4681 158,502 69,473 £1178,4681 £227,975 Of the £227,975 investment gains recognised in 2021. £224.260 lated to unrestricted funds and £3,715 related to resth.cted funds.
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... 14. Debtors 2022 2021 Trade debtors Prepayments and accruell income Other debtors 2,320 14,071 1,099 3,110 13.767 858 £17,490 £17,735 15. Stock 2022 2021 Stock £2,476 £Nil 16. Cditors. Amounts falling due within one year 2022 2021 Trade creditors Other creditors Accrued expenses 11,138 914 10,509 6,807 529 5,176 £22,561 £12,512 17. Creditor5- Arnounts falling due after more than one year 2022 2021 Grants in advance £30,846 £Nil Deferred income analysls 2022 2021 Asat1Jan Additions d(Jnng the year= Sutton Neighbourhood Grant (for roof works) Lottery Grant (for horse Carriage) Amounts released to income 21,363 10,000 (5171 As al 31 Dec £30,846 £Nil Deferred income of £30,846 {2021 £Nil) included at)ove related to grant income after amortised during the year bul relating to future accounting periods. The above two grants will be amortised over the correswnding depreciab.on period for the assets purchased with the funds received. 21
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 IGontd... 18. Analysis of net assets bètween funds Fixed assets Current assets Current liabilities Long-term Llabilities Net assets 2022 Unrestrirted Fund& Restricted Funds 1.552.257 29,731 334.)2 {22.5611 130,8461 1,833,752 33,737 At 31 December 2022 £1,581,988 £338.908 £122.5611 £130,846) £1,867,489 Comparative information for the analysis of net assets belween funds is as follows: Analysis of net assets between fvnds Fixed assets Current assets Current liabilities Long-temi Liabilitios Net Assets 2021 Unrestricted Funds Restricted Funds 1.624.551 31,485 378,503 3.8 112,5121 1.990.542 35,393 At 31 December 2021 £1,656,036 £382,411 £112,512) £Nil £2,025,935 19. Movement in funds Balance brought forward Gainl(los$l on investments Balance carried forward 2022 In¢ome Expenditure Transfers Unrestricted fvnds General 1,990.542 353.282 (335,0371 1176.7141 1.679 1.833,752 Restricted funds Andrew Ballardie Trust Other Stricted reserves 28.087 7.306 1.679 55.617 11,7541 11,6791 26,333 7,404 155,519} 35.393 57.296 155.5191 11,7541 11,6791 33,737 £2,025,935 £410,578 £1390,5561 £1178.4681 £Nil £1,867,489
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Icontd... 19. ovement in funds ...Iconld Comparats"ve infomalion for the analysis for the movement between fvnds is as follows: Balance brought ft>rward Gainlllossl on investments Transfers Balance carried forward 2021 Income Expenditure Unre$trIed funds General 1,844,977 236.141 {316.3331 224.260 1,497 1.990,542 Restricted funds Andrew Ballardie Trust Other restricted reserves 24,372 7.306 1,497 100.231 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 £1416.564) 227,975 £Nil £2,025.935 General Fund: This unrestn.cted fund is available lo be spent for any of the PUTposes of the charity. Restricted funds Andrew Ballardie Trust This is a fvnd established to provide an income sufficient to cover the costs of the annual open day. These represent the balan of reslricted donations grants receivèd for specific puwes. but not yet expended on Ihose purposes. Other Restricted Funds 20. RèlatÈd Party Transactions The trustees received no remuneration and £2.327 (2021: £6() reimbursed expenses during 2022 for travel for 2 trustees12021= 11. There were no related paty transactions in 2022 or 2021 other Ihan set out in Note 11 relating to employee benefits received by key management personnel. 23