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2023-12-31-accounts

THE DIAMOND CENTRE FOR DISABLED RIDERS

(Registered Charity No: 1045970) (Company No: 03042659)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

THE DIAMOND CENTRE FOR DISABLED RIDERS

Contents
Page
Reference and Administration Details 1
Trustees’ Annual Report 2-7
Independent Auditor’s Report &- 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flows Statement iz
NotestotheFinancialStatements 14-24

THE DIAMOND CENTRE FOR DISABLED RIDERS

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

Company Name

The legal name of the charity is The Diamond Centre for Disabled Riders

Charity Registration 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 company legislation. The company registration number is 03042659. The Governing Document is dated 6 April 1995 (amended on 17 April 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.

Registered Office and Principal Address

The Diamond Centre for Disabled Riders

Woodmansterne Road

Carshalton, Surrey SM5 4DT

Telephone: 020 8643 7764

Email Address; admin@diamondcentre.org.uk Web address: diamondcentre.org.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) — chair from 2 February 2023 Steve Axon (vice-chair) — since 2 February 2023 — chair until 1 February 2023 Sandy Pfeifer Katie Hobden Carol Bedwell Matthew Taylor Tina Edwards Rosemary Stuart — appointed on 8 June 2023

Robert Mathews served as a Trustee until he resigned on 23 November 2023. Ann Stuart served as a Trustee until she resigned on 2 February 2023.

Centre Manager Maz B Ray

RDA Head Coach and Co-ordinator Kate Gordon

Bankers HSBC plc Investment CCLA Investment Management 16 King Street Advisors 85 Queen Victoria Street Covent Garden London EC4V 4ET London, WC2E 8JF Solicitor J Garrard & Allen Auditor Myrus Smith Solicitors Chartered Accountants and 4 High Street Statutory Auditors Olney Norman House MK46 4BB 8 Burnell Road Sutton, Surrey, SM1 4BW

1

THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Objectives and Activities

The Diamond Centre for Disabled Riders, (“the Centre”) is based in Carshalton, Surrey and has been in operation since 1974. It is a member of the national Riding for the Disabled Association (“RDA’).

The object of the Centre is to provide disabled people with the opportunity to participate in a range of riding and non-riding equine activities to benefit their health and well-being and achieve their goals. It is now widely recognized that disabled people can benefit educationally, physically, and mentally from riding or carriage driving and we will encourage this leaming process 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 aim is to 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 it in our area. Activities are provided by our staff, coaches, and volunteers, all of whom are fully qualified for their relevant tasks and attend training courses related to providing horse riding for people with physical disability and leaming difficulties.

Our most important people are our participants and we are committed to ensuring our facilities and service will be maintained at the highest levels to provide every opportunity for every disabled person to achieve their goals. Our participants come from all age groups and each week, with the assistance of our coaches and helpers, they can enjoy the experience of a range of RDA activities. An experience which gives them the chance to be independent and a sense of achievement.

We rely heavily on our volunteers and call on 300 active helpers each week. These volunteers are essential for the day-to-day operation of the 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 forgetting the many hours they spend grooming our horses and attending training courses. In addition, we have a team of volunteers who assist so pleasantly in our Shop and Servery, a talented gardening team and the 'A-Team' - our skilled maintenance team.

Achievements and Performance

Horse Riding

We have a capacity to provide riding to 350 disabled individuals each week, comprising approximately equal numbers of disabled individuals and school groups. Throughout 2023 we operated at around 90% of full capacity. The waiting list is actively managed, most are awaiting additional information or an assessment.

The RDA Regionals were held at Penniwells on 31 May 2023. Nine Diamond riders qualified and went on to compete in 11 classes (two in Showjumping classes and nine in Dressage classes), at the RDA National Championships, held at Hartpury College on July 13 — July 16, 2023. All riders did well. In their Showjumping classes Sam Melrose was 2" and Alicia Marrable Kearn was 6". In their Dressage classes Rhian Mulligan was 2", Audrey Fallon was 5‘ and Ethan Usher was 6".

Vaulting

Our weekly Thursday afternoon group is well attended by eight participants.

Hippotherapy

Hippotherapy is offered by our in-house Physiotherapist, and is offered to younger children for whom riding would not be appropriate. Each participant is offered a six-week course, with a maximum of 3 courses in total. We have 3 participants attending each week. The hope is that the Hippotherapy may lead on to participants becoming regular riders.

Carriage Driving

Carriage driving runs every Tuesday morning with one to two participants and our team of half a dozen volunteers to accompany the carriage.

2

THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

... /Cont'd

Non-Riding Activities

We continued with weekly sessions of “Tea with A Pony” for individuals, such as those suffering from dementia, who benefit from interaction with our horses and ponies. We also have regular horse sensory care sessions for individuals and school groups with a range of disabilities.

Infrastructure

2023 was another very big year for upgrading our physical infrastructure, enabled by our higher than usual income from legacies. We invested the proceeds of our legacy income in several infrastructure projects, including:

Except for the investment in solar panels which was capitalised and will be depreciated over its expected useful life, the above infrastructure works were written off as operational costs and included in the operating results for the year.

SES Pipeline

Work on the “SES How Green / Langley Park Pipeline” continues. All construction work was completed in December but we understand the pipeline needs to 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 (possibly a Sensory Track) to recognise the value of Diamond to the local community. We are hopeful our fields can be re-seeded in the spring 2024.

Horses

We started 2023 with 25 horses, and this went down to 24 in January when we had to let Gypsy go in January as she proved unsuitable for disabled riding. We sadly had to put down Malachi (August), Damian (July), Cleo (October) and Romeo (October) but we acquired 3 new horses during the year — Ebony, Lizzie, and Newbie (trial). At year end we had 23 horses, against a target of 25 horses. Staffing Sophie Michiner and Katie Stuart left us in January, our best wishes go to them both with thanks for their service to our charity. Hannah Prior joined in January and Amelia McCarthy joined in April. In July, Ffion Curtis passed BHS Stage 3 Care Assessment; and Hannah Prior passed BHS Stage 2 Care Assessment.

Trustees

The Board welcomed Rosemary Stuart on 8 June 2023 following her nomination at the Annual General Meeting. Robert Matthews stood down from the Board at the end of November 2023, having started at Diamond in 1983 and actively involved throughout as a volunteer and as a Trustee of the charity and registered company, chairing the Board until 2004. The Board would like to register its thanks to Robert and we are grateful that Robert will continue in his role as President of our charity.

Volunteers

A Volunteer Working Group was set up in January 2023 to improve volunteer recruitment and retention. A Volunteer Thank You Event was held on 2™ July 2023. and was well received by those who attended. Volunteers were presented with ‘Diamond’ badges and certificates according to how long they had been volunteering. While we cannot presently offer supported placements, we are proud to have several disabled volunteers in our weekly rotas.

3

THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

.../Cont'd

Non-Disabled Riding

We continued to provide lessons for non-disabled riders, and welcomed non-volunteer riders, subject to an initial assessment.

The non-disabled riding lessons benefitted the charity in several ways. Firstly, by keeping the horses exercised and schooled, without requiring staff. Secondly, by generating £47,000 of income (2022: £43,000) in the year. And thirdly, by promoting Diamond in our local community, generating interest from new riders in becoming future volunteers.

Public Benefit

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

With an increasing number of people suffering from physical disabilities and learning difficulties, the public can benefit greatly from horse riding and carriage driving as a therapy. The Centre strives to accommodate this increasing demand by structuring lessons and activities to cater for as wide a range of clients as possible. The number of schools that ride at the centre has been maintained over the year which benefits not just of the riders but also the school’s curriculum and the rider's parents and carers. In addition to regular riding classes during term-time, an increasing number of other activities and events are held during the school holidays 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 community, as well as our volunteers and corporate donors. Our thanks go to all who supported us this year, without whom we would not be able to continue providing our services to the disabled community. Our aim is always to keep riding affordable and we continue to heavily subsidise all our riding activities from income and donations.

Fundraising & Events

Our main one-off event was again our Autumn Fair. This was attended by an estimated 3,000 visitors, and a generated a profit of over £20,000 (2022: £17,000). We were grateful for sponsorship of £1,000 from the Surrey Masonic Sports Association.

Our thanks go to all our volunteers and staff who organised numerous other events, including two Quiz nights, Bingo, Easter, and Christmas Raffles, and representing Diamond at local fairs in Banstead.

In addition, our Servery, now upgraded with a vending machine, raised over £2,000. And finally, special thanks to our volunteer and ex-Trustee Mike Watson who raised over £1,400 from a 100km sponsored walk in the Lake District.

Donations (incl horse sponsorship)

Total donations & horse sponsorship was £99,308 (2022: £135,166). We were very grateful for all donations and wish to note with gratitude the following non-personal donations of £5,000 and over:

Grants

Total grant income shown in the Statement of Financial Activities comprised only the amortisation of two grants received in 2022, which were used to invest in capital projects, being (i) Sutton Neighbourhood Fund (£21,363) for outbuilding roof improvements, and (ii) Lottery Grant (£10,000) for horse carriage. In accordance with charity accounting rules, the latter two grants will be amortised over the corresponding depreciation period for the asset purchased with the funds received.

4

THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

.../Cont'd

We were also grateful to receive two further grants, which are being held on the balance sheet, pending the completion of works scheduled this year.

Legacies

We were extremely grateful to receive legacies of just under £200,000 in the year: £5,000 from the estate of DJ Begley, £59,536 from the estate of R Reeves, £119,757 from the estate of M Hastings, and £15,284 from the estate of Sister Maria Chiara Hatton-Hall.

Financial review

The charity's financial position at the end of the year ended 31 December 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows: -

2023 2022
Net income / (expenditure) £237,587 £(158,446)
Unrestricted Revenue Funds 2,072,118 1,833,752
Restricted Revenue Funds 32,958 33,737
TotalFunds £2,105,076 £1,867,489

Financial review of the position at the reporting date, 31 December 2023

The Net income / expenditure shown in the table above can be further broken down as follows:

2023 2022
Net operating result before legacy income & investment gains/(losses) £(84,699) £15,022
One-off legacy income £199,577 £5,000
Revaluation of investments £122,709 £(178,468)
Netincome/(expenditure) £237,587 £(158,446)

The operating result from core operations before one-off legacy income and investment gains/(losses) accounting was significantly lower than the previous year, by £99,721. This reflects mainly the higher level of infrastructure maintenance expenditure and lower income from donations.

Net income was positively affected by a £122,709 revaluation of investments following a strong market rally in the last two months of the year. Our CCLA fund, which represents 98% of our investment portfolio recorded a 9% increase in the year, ahead of most other multi asset charity funds.

5

THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

.. /Contd

Principal risks and uncertainties

The Trustees are cognisant of several material risks facing the Centre, and this is reflected in the conservative reserves policy adopted.

Risks and uncertainties include (i) health of our horses, where for example a contagious disease could significantly interrupt our programme of activities, (ii) damage to our infrastructure caused by adverse weather, storm, fire, or other causes, (iii) unforeseen building and maintenance costs on our ageing physical infrastructure (iv) accident or other incident which causes personal injury and reputational damage.

Plans for future periods

While no significant changes are planned to the scope and nature of operations Trustees are hopeful that funding will allow for further upgrading of infrastructure and expansion of riding and non-riding equine activities.

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 to maintain a safe and secure and sustainable operation. Trustees maintain an ongoing objective of delivering a balanced operating budget (excluding one-off legacies), while utilising reserves and legacy income to upgrade and enhance 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 fund are available and adequate to fulfil its obligations in respect of each fund.

Investment policy and investment objectives

The investment objective is to seek a total return composed of capital gains and income sufficient to preserve the real value of the portfolio against inflation, with a focus on income utilising a balanced and diversified blend of assets with a medium risk profile.

Membership

As at 31 December 2023 the Centre had 92 members (2022: 104). Membership is open to those supporting the Centre's work.

Structure, governance, and management of the charity

Under the Constitution and Articles of Association of The Diamond Centre for Disabled Riders, the Trustees are ultimately responsible for all aspects of governance; 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 limited company by guarantee.

Decision making and delegation of authority

The day-to-day management of the centre is devolved to the Centre Manager and Staff. The Chair, ViceChair and Treasurer maintain close contact on a weekly basis to support the Centre Manager.

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THE DIAMOND CENTRE FOR DISABLED RIDERS

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

.../Cont'd

The methods used to recruit, appoint and induct new charity trustees

When new or additional trustees are recruited, they are elected by the Members or co-opted by the Trustees. All Trustees are also Members, and support the Objects of the charity, as set out above. The Trustees retire at each Annual General Meeting (“AGM”) of the charity. Trustees may then stand again and may be reappointed by the Members. Co-opted Trustees hold office until the next AGM, when they retire but may stand as Trustees and put themselves forward for election by the Members. Induction of new Trustees includes education on governance responsibilities including Charity Commission guidance. New Trustees are also expected to complete RDA e-learning modules on governance and safeguarding.

Trustees’ responsibilities statement

The Trustees (who are also directors of The Diamond Centre for Disabled Riders for the purposes of company law) 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 Practice).

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 are satisfied 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 expenditure, of the charitabie company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for 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 them to 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 information to auditors

The trustees state that so far as each of the trustees at the time this report was approved are aware: -

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Trustees on ly Mawhso24 and signed on their behalf by

C Snowdon Director and Trustee

7

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’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, Cash Flows Statement 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 Reporting Standard applicable in the UK and Republic of !reland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 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 financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the trustees’ annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in 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 information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise 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 the work we have performed, we conclude that there is a material misstatement of this other 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 audit:

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE DIAMOND CENTRE FOR DISABLED RIDERS

.../Cont’d

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 identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, 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 material misstatement when it exists. Misstatements can arise from fraud or error and are considered material 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 non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

9

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE DIAMOND CENTRE FOR DISABLED RIDERS

.../Cont'd

Auditor’s responsibilities for the audit of the financial statements .../Cont’d

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements 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 to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyonether than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Jones FCA (Senior Statutory Auditor) For and on behalf of Myrus Smith, Chartered Accountants and Statutory Auditors Norman House, 8 Burnell Road Sutton Surrey, SM1 4BW

14 March 2024

10

THE DIAMOND CENTRE FOR DISABLED RIDERS

STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating Income and Expenditure Account)

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Income from:
Donations and legacies 2 258,170 42,783 300,953 140,683
Charitable activities 3 180,166 - 180,166 166,634
Other trading activities 4 50,480 - 50,480 60,815
Investments 5 43,528 1,730 45,258 42,446
Total 532,344 44,513 576,857 410,578
Expenditure on:
Raising funds 6 12,562 79 12,641 9,466
Charitable activities 7 406,554 42,784 449,338 381,090
Total 419,116 42,863 461,979 390,556
Net income/(expenditure)before
Investment gains and losses 113,228 1,650 114,878 20,022
Net gain/(loss) on investments 13 123,408 (699) 122,709 (178,468)
Net income/(expenditure) 10 236,636 951 237,587 (158,446)
Transfers between funds 19 1,730 (1,730) - -
Net movement in funds 238,366 (779) 237,587 (158,446)
Reconciliation offunds:
Total funds broughtforward 19 1,833,752 33,737 1,867,489 2,025,935
Totalfundscarriedforward 19 £2,072,118 £32,958 £2,105,076 £1,867,489

All income and expenditure derives from continuing activities.

The Statement of Financial Activities includes all recognised gains and losses.

The notes form part of these financial statements.

11

THE DIAMOND CENTRE FOR DISABLED RIDERS

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes 2023 2022
£ £ £ £
FIXED ASSETS
Tangible assets 12 237,453 209,268
Investments 13 1,495,429 1,372,720
1,732,882 1,581,988
CURRENT ASSETS
Stock 15 2,769 2,476
Debtors 14 66,987 17,490
Cash at bank and in hand 428,247 318,942
498,003 338,908
CREDITORS: amounts falling
due within one year 16 99,100 22,561
NET CURRENT ASSETS 398,903 316,347
TOTAL ASSETS LESS CURRENT
LIABILITIES 2,131,785 1,898,335
CREDITORS: amounts falling
due aftermore than one year 17 26,709 30,846
NET ASSETS 18 2,105,076 £1,867,489
FUNDS
Unrestricted 19 2,072,118 1,833,752
Restricted 19 32,958 33,737
19 £2,105,076 £1,867,489

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Trustees on lagMovo004 and signed on their behalf by:

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C Snowdon, Trustee
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S Pfeifer, Trustee
----- End of picture text -----

The notes form part of these financial statements.

12

THE DIAMOND CENTRE FOR DISABLED RIDERS

CASH FLOWS STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes 2023 2022
£ £
Cash flows from operating activities
Net movement in funds per statement offinancial activities 237,587 (158,446)
Adjustments for:
Investment income receivable 5 (45,258) (42,446)
Gains on investments 13 (122,709) 178,468
Depreciation charges 12 22,588 24,498
Decrease/ (increase) in stocks (293) (2,476)
Decrease / (increase) in debtors (49,497) 245
(Decrease) / increase in creditors 72,402 40,895
Net cash provided by / (used in) operating activities 114,820 40,738
Cash flows from investing activities
Investment income received 5 45,258 42,446
Purchase of tangible fixed assets 12 (50,773) (128,918)
Net cash provided by investing activities (5,515) (86,472)
Change in cash and cash equivalents in the year 109,305 (45,734)
Cash and cash equivalents brought forward 318,942 364,676
Cash and cash equivalents carried forward £428,247 £318,942
2023 2022
Analysis ofcash and cash equivalents
Cashatbankandinhand £428,247 £318,942

The notes form part of these financial statements.

13

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

General information and basis of accounting The Diamond Centre for Disabled Riders is a registered charity (No. 1045970) and private company limited 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 on page 1.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of treland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis and under the historical cost convention modified to include certain items at fair value. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Fund accounting

Unrestricted funds are those funds which are freely available for use in furtherance of the objects of the charity. Designated unrestricted funds are those funds which have been earmarked for specific purposes or projects by the Trustees.

Restricted funds are those funds which can only be used in accordance with the wishes of the donor or which have been raised for a particular purpose.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the fair value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of income

Income is categorised as income from exchange transactions (contract income) and income from nonexchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

Income recognition

Income, whether from exchange or non-exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the receipt is probable and the amount can be measured reliably.

14

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

1. Accounting policies.../Cont'd

Income recognition.../cont’d

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All 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 property in question will not be required to satisfy claims in the estate, 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 notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable.

Where the charity has established entitlement to 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 life tenant, the legacy is not recognised as income until the death of the life tenant.

If tt is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised whena 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 to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Direct costs relating to a particular activity are allocated directly; support costs are allocated on the basis of staff time. Governance costs (included in support costs) include those costs associated with meeting the constitutional and statutory 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 recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

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THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

1. Accounting policies/contd...

Policies relating to assets, liabilities and provisions and other matters.

Fixed asset investments

Fixed asset investments in quoted shares, traded bonds and similar investments are initially recognised at cost upon acquisition and subsequently remeasured at fair value at the end of the financial period.

All gains on fixed asset investments, whether realised or unrealised, are recognised in the Statement 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 its intended working condition.

Depreciation has been provided 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) 5% - 10% straight line
Ponies 100% straight line
Fixtures, fittings and equipment 10% -20% straight line
Plant and machinery 10% -20% straight line
Agricultural vehicles 20% straight line
The grant received towards the cost of fixed assets are recognised using the accrual model and
released to income ona straight line basis overthe estimated useful life ofthe assets.
Sutton Neighbourhood Grant 5% (amortised for20 years)
Lottery Grant 10% (amortised for 10 years)
Stocks and work in progress
Stockisvaluedatthelowerofcostandnetrealisablevalue.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Liability to taxation

The Trustees consider that the charity satisfies 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 exclusively 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 Activities.

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 to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure.

16

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

2. Donations and legacies Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Donations
Legacies		 58,593
199,577		 40,715
.		 99,308
199,577		 103,601
5,000
Grants - 2,068 2,068 517
Sponsorship . . - 31,565
£258,170 £42,783 £300,953 £140,683

Of the £140,683 recognised in 2022, £102,919 related to unrestricted funds and £37,764 related to restricted funds.

3. Income from charitable activities Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Courses and lessons 48,748 - 48,748 44,305
Riding fees 123,411 . 123,411 101,773
Special events 3,408 - 3,408 1,338
Sundry receipts 4,599 . 4,599 1,365
Government grants . - - 17,853
£180,166 ENil £180,166 £166,634

Of the £166,634 recognised in 2022, £148,781 related to unrestricted funds and £17,853 related to restricted funds.

4. Incomefrom othertrading activities Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Fundraising events 42,345 . 42,345 44,460
Letting and licencing of property 8,135 - 8,135 16,355
£50,480 ENil £50,480 £60,815
All ofthe £60,815 recognised in 2022 related to unrestricted funds.
5. Investment income Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Dividends and interest from listed
investments 40,527 1,730 42,257 41,935
Bank interest 3,001 - 3,001 511
£43,528 £1,730 £45,258 £42,446

Of the £42,446 recognised in 2022, £40,767 related to unrestricted funds and £1,679 related to restricted funds.

17

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

6. Cost ofraising funds Direct Support Total Total
costs costs 2023 2022
£ 2 £ £
Publicity and marketing 12,641 = 12,641 9,466
Investment management - - - -
£12,641 ENil £12,641 £9,466
All ofthe £9,446 expenditure recognised in 2022was charged to unrestricted funds.
7. Cost of charitable activities Direct Support Total Total
costs costs 2023 2022
Riding and carriage driving £207,507 £241,831 £449,338 £381,090
Of the £381,090 expenditure recognised in 2022, £325,571 was charged to unrestricted funds and £55,519
was Charged to restricted funds.
8. Analysis ofdirectcosts Raising Charitable Total Total
funds activities 2023 2022
£ £ £ £
Salaries, NI and pension costs - 145,323 145,323 146,673
Upkeep ofponies - 46,782 46,782 47,944
Training and instruction - 5,250 5,250 4,444
Driving group . 36 36 168
Special events - 2,906 2,906 689
Agricultural vehicle costs - 7,210 7,210 12,016
Publicity and marketing 12,641 - 12,641 9,466
£12,641 £207,507 £220,148 £221,400

18

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

‘contd...
9. Analysis ofsupport costs Raising
funds		 Charitable
activities		 Total
2023		 Total
2022
£ £ £ £
Staffcosts
Salaries, NI and pension costs - 56,265 56,265 52,938
Sundry costs (including uniform) - 3,877 3,877 2,892
Premises costs
Rates and water - 7,617 7,617 6,450
Light, heat and power - 18,863 18,863 13,247
Cleaning - 2,099 2,099 2,080
Maintenance ofpremises - 79,368 79,368 15,571
Groundsmen - 6,915 6,915 5,885
Administrative overheads -
Telephone - (27) (27) 3,348
Postage, stationery and copying - 785 785 658
Insurance - 21,144 21,144 20,446
Sundry expenses - 12,188 12,188 10,642
Maintenance and hire ofequipment - 4,828 4,828 5,475
Professional fees
Other legal and professional costs . 1,000 1,000 .
Finance costs
Bank charges - 1,371 1,371 1,226
Depreciation - 22,588 22,588 24,498
Governance costs
Audit fees - 2,950 2,950 3,800
ENil £241,831 £241,831 £169,156
10. Net income/(expenditure) 2023 2022
This is stated after charging:
Depreciation £22,588 £24,498
Pension costs— Defined contribution schemes £7,077 £7,137
Auditor'sremuneration £2,950 £3,800

19

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

‘contd...

11. Staff costs 2023 2022
£ £
Wages and salaries 190,465 182,935
Social security 4,046 9,539
Employerpension costs 7,077 7,137
£201,588 £199,611

No employee (2022: 0) received total employee benefits (excluding employer pension costs) exceeding £60,000 per annum.

The total employee benefits received by Key Management Personnel amounted to £66,366 (2022 : £61,752).

Under FRS 102, employee benefits include gross salaries, benefits in kind, employer's national insurance and employer's pension costs.

The number of staff (full-time) equivalent during the year 2023 2022
Number Number
Full-time
Part-time		 6
6		 5
8
Total 12 13
2023 2022
Average number ofemployees Number Number
12 13

20

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

12. Tangible fixed assets Land and Plant and Motor
Buildings Machinery Vehicles Total
£ £ £ £
Cost
At 1 January2023 633,627 265,543 36,465 935,635
Additions - 50,773 - 50,773
Disposals - (11,018) - (11,018)
At 31 December 2023 £633,627 £305,298 £36,465 £975,390
Depreciation
At 1 January2023 518,207 172,129 36,031 726,367
Charge for the year 2,628 19,743 217 22,588
Disposals - (11,018) - (11,018)
At 31 December 2023 520,835 £180,854 £36,248 £737,937
Net Book Value
At 31 December 2023 £112,792 £124,444 £217 £237,453
At 31 December 2022 £115,420 £93,414 £434 £209,268
13. Investments 2023 2022
£ £
Listed investments
Fair value broughtforward at 1 January 2023 1,372,720 1,551,188
Additions at cost = >
Disposals atopening fair value - -
Revaluation gains/(losses) 122,709 (178,468)
1,495,429 1,372,720
Cash held for reinvestment - -
Fairvalue carried forward at 31 December 2023 £1,495,429 £1,372,720
The historic cost of listed investments at 31 December 2023 was £1,383,905 (2022 : £1,383,905).
2023 2022
Analysis of investment gains +: £
Unrealised (losses) on revaluation 122,709 (178,468)
Realised gains on disposal = .
£122,709 £(178,468)

Of the £(178,468) investment losses recognised in 2022, £(176,714) related to unrestricted funds and £(1,754) related to restricted funds.

21

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd...

14. Debtors 2023 2022
£ £
Trade debtors 1,100 2,320
Prepayments and accrued income 65,887 14,071
Other debtors - 1,099
£66,987 £17,490
15. Stock 2023 2022
Stock £2,769 £2,476
16. Creditors: Amounts falling due within one year 2023 2022
£ £
Trade creditors 54,194 11,138
Other creditors - 914
Accrued expenses 5,400 10,509
Grants in advance 39,506 .
£99,100 £22,561
17. Creditors: Amounts falling due after more than one year 2023 2022
£ £
Grants in advance £26,709 £30,846
Deferred income analysis 2023 2022
£ £
As at 1 Jan 30,846 -
Additions during the year:
Sutton Neighbourhood Grant (for roofworks) amortised over20 years
from 30/09/22 20,028 21,363
Lottery Grant - Fenix Horse Carriage amortised over 10 years
from 06/10/2022 8,750 10,000
Sport England 2023—Arena resurfacing 2024 12,600 -
Amos Foundation 2023 —Arena Resurfacing 2024 10,000 -
Community Fund 2023 — Lecture Room Upgrade 2024 14,837
Amounts released to income (30,846) (517)
Asat31Dec £66,215 £30,846

Deferred income of £66,215 (2022 : £30,846) included above related to grant income after amortised during the year and also for the expenditure relating to future accounting periods.

The above first two grants will be amortised over the corresponding depreciation period for the assets purchased with the funds received.

22

THE DIAMOND CENTRE FOR DISABLED RIDERS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

/contd... /contd...
18. Analysis ofnet assets Fixed Current Current
Long-term		 Net
between funds assets assets liabilities Liabilities assets
£ £ £ £ £
2023
Unrestricted Funds 1,675,152 493,997 (97,031) - 2,072,118
Restricted Funds 57,730 4,006 (2,069) (26,709) 32,958
At 31 December2023 £1,732,882 £498,003 £(99,100) £(26,709) £2,105,076
Comparative information forthe analysis of net assets between funds is as follows:
Analysis of net assets Fixed Current Current
Long-term		 Net
betweenfunds assets assets liabilities Liabilities assets
£ £ £ £ £
2022
Unrestricted Funds 1,552)257 334,902 (22,561) (30,846) 1,833,752
Restricted Funds 29,731 4,006 - - 33,737
At 31 December2022 £1,581,988 £338,908 £(22,561) £(30,846) £1,867,489
19. Movement in funds Balance Gain/(loss) Balance
brought on carried
2023 forward
Income		 Expenditure investments Transfers forward
£ £ £ £ £ £
Unrestricted funds
General 1,833,752
532,344		 (419,116) 123,408 1,730 2,072,118
Restricted funds
Andrew Ballardie Trust 26,333 1,730 (80) (699) (1,730) 25,554
Other restricted reserves 7,404
42,783		 (42,783) . - 7,404
33,737
44,513		 (42,863) (699) (1,730) 32,958
£1,867,489
£576,857		 £(461,979) £122,709 ENil +£2,105,076

23

THE DIAMOND CENTRE FOR DISABLED RIDERS

  1. Movement in funds .../contd

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 contd...

Comparative information for the analysis for the movement between funds is as follows:

Balance Gain/(loss) Balance
brought on carried
2022 forward Income Expenditure investments Transfers forward
£ £ £ £ £ £
Unrestricted funds
General 1,990,542 353,282 (335,037) (176,714) 1,679 1,833,752
Restricted funds
Andrew Ballardie Trust 28,087 1,679 - (1,754) (1,679) 26,333
Other restricted reserves 7,306 55,617 (55,519) - - 7,404
35,393 57,296 (55,519) (1,754) (1,679) 33,737
£2,025,935 £410,578 £(390,556) £(178,468) ENil £1,867,489

General Fund:

This unrestricted fund is available to be spent for any of the purposes of the charity.

Restricted funds Andrew Ballardie Trust This is a fund established to provide an income sufficient to cover the costs of the annual open day.

Other Restricted Funds

These represent the balance of restricted donations and grants received for specific purposes, but not yet expended on those purposes.

20. Related Party Transactions

The trustees received no remuneration and £3,367 (2022: £2,327) reimbursed expenses during 2023 for travel for 1 trustee (2022: 2).

There were no related party transactions in 2023 or 2022 other than set out in Note 11 relating to employee benefits received by key management personnel.

24