Charity registration number 1045970 (England and Wales) Company registration number 03042659
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES' ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE DIAMOND CENTRE FOR DISABLED RIDERS
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | S J Axon (Vice-chair) | |
|---|---|---|
| T Edwards | ||
| C A Bedwell | ||
| K Hobden | ||
| AA Pfeifer (Treasurer) | ||
| C F Snowdon (Chair) | ||
| R Stuart | ||
| M C Taylor | ||
| Secretary | AAPfeifer | |
| Seniormanagement | M B Ray | Centre Manager |
| K Gordon | RDAHead Coach and Co- | |
| ordinator | ||
| Charity number(England and Wales) | 1045970 | |
| Company number | 03042659 | |
| Registered office | Woodmansterne Road | |
| Carshalton | ||
| Surrey | ||
| SM5 4DT | ||
| Telephone: | 020 8643 7764 | |
| Email address: | admin@diamondcentre.org.uk | |
| Web address: | diamondcentre.org.uk | |
| Auditor | Kingston BurrowesAudit Ltd | |
| 308 Ewell Road | ||
| Surbiton | ||
| Surrey | ||
| KT6 7AL | ||
| Bankers | HSBC pic | |
| 16 King Street | ||
| Covent Garden | ||
| London | ||
| WC2E 8JF | ||
| Investmentadvisors | CCLAInvestment Management | |
| 85 Queen Victoria Street | ||
| London | ||
| EC4V4ET |
THE DIAMOND CENTRE FOR DISABLED RIDERS CONTENTS Page Trustees, report Independenl auditorfs report 9-11 Slatement of financial acllvities 12 Balan sheet 13 Statement of cash flows 14 Notes to the financial statements 15-29
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The truste8s present their annual r8POrt and financial ststements for the year ended 31 December 2024. The Diamond Cerrtre for Disabled Riders, fihe Centre"} is based in Carshalton, Surrey and has been in operation since 1974. It is a member of the national Riding for Ihe Disabled Association {'RDA'). The charitable objects of the Centre as set out in its governing document is tho relief of disabled persons by ihe provision or assistance in the provision of facilities for riding as well as carriage driving (whether of horse pony or donkey drawn vehidesl so th8t all disabled persons who would benefit in their menlal or physical health from riding shall be given the opportunity to do so. These may have enabled disabled people wrth 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 mentslly from riding or carriage driving and we will èncourage this leaming process and its progression. The Centre provides unique hor5e-riding facilities to benefit disabled children and adults by having regular contact with horses. In addition to horse-riding. we provide Carriage Driving, Vaulting, Hippo4herapy and Dressage and our aim is to be one of the best riding cenlres 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 Iraining courses related to providing horse riding for people with physical disabilty and leaming difficulties. Our most important P80ple are our participants and we are committed to ensuring our facilities and service will be maintained at th8 highest levels to provide every opportunity for every disabled person to achieve their goals. Our participants come from all age groups and eath week, with the assistance of our coaches and helpars, they can enjoy the experien of a range of RDA activities. An experience which gives them the chance to be independent and a sense of athievement. We rely heavily on our volunteers and call on 300 active helpers each week. These volunteer5 are essential for the day-to4ay operation of the ntre, and include Instructors. who undertake m05t of our riding classes, and other volunteers who so willingly asslst the riders and drivers in their lessons, not forgetting Ihe many hours they spend grooming our horsès and attending training courses. In addition, we have a team of volunteers who assisl so pleasantly In our Shop and Servery, a talented gardening team and the 'A-Team'. our skilled maintenance team. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable cx)mpany's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP "Accounting and Reporting by Charities.. Slatament 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 1021" Objectives and activitie5 Publlc benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. With an increasing number of people suffering from physical disabilities and leaming difficufties, Ihe public can benefit gr8atly from horse riding and carriage driving as a therapy. The Cenlre 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 riderfs parents and carers. In addition to regular riding dasses during temi-time, an increasing number of other activities and events are held during the school holidays lo the benefit of the riders, families and ¢arers.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and perfonnance Significant activilies and achievements agalnst oty'ectives We have a capacity to provide riding to 350 disabled individuals each week, comprising approximatety equal numbers of disabled indlvlduals and school groups. Throughout 2024 we operated at around 90Vo of capacity. The waiting list is actively managed, most are awaiting additional information or an assessment. RDA Com Regionals on the 29th May six riders attended the RDA Greater London Regional compelition at Ar)W RDA. securing four first places, one second and a fourth, with many of the riders qualifying fcff th8 national competition. We also came away with a first, second and third in the arts and craft competition. Nationals - on the 12th - 14th of July Team Diafflond went to the RDA Nalional Champion5hlps at Harty)ury. Eight riders competed in dressage and showjumping with two 8ntrant5 in the arts and craft competition. We won Iwo first places in dressage (with both winning overall champion in their class), a second in showjumping, two thirds in dressage and one in arts and crafts, as well as sixth and seventh place in showjumping. Virtual Nationals - Five of our riders look part in the RDA Virtual National Championships that were streamed between 15th-17th November 2024. Five riders took part and we came away with four first places and a s8cond plac8. Vaultin Our weekly Thursday aftemoon group is well attended by eight participants. oth Hippotherapy is offered by our in-house Physiotheraplst. and is offered to younger children for whom riding would not be appropriate. Each participant is offered a six-week course. wilh 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 beccming regular rlders. rria e Drivin This activity is currently on hold following the loss of our trained pony Daisy. We hope to resume when we are able to procure and train a suitable replacement pony. Non-Ridin We offer Ye8 with A Ponl, sessions for individuals, such as those with dementia. who benefit from in18r2ction with our horses and ponies. Sessions are carried out twice weekly. In addition, we have three weekly Horse Care group sessions. mainly for school age children within the Special Educational Needs seclions of both primary and secondary schools. Incom8 from non-riding activities was £4.000 in 2024, showing a significant growth from £225 in 2023.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 l frastructurè Benefitting from recent legacy income, wa were able to continue our programme of updating our physical infraslructure. Completed projects included.. Resurfacing of our main driveway and creation of two disabled parking bays (£20,000). Resurfacing of main arena (partly grant funded £10k} (£34,000) Replacement windows for lecture room and flats (partly grant funded £8k) (£30,000) Replacement field shelter5 (£9,000) Upgrade to lecture room (grant funded) (£6,000) Pergola for sensory track, (grant funded)1£3,000) The above infrastructure works were written off as operational costs and included in the operating results for the year. SES Work on the 'SES How Green l Langley Park Pipeline" was completed. Following extensive negotiations With SES and their agents, we se¢ured a total payment of £40,677 as compensation for the additional costs incurred by the disruption of these works, including additional feed, bedding, staff time and costs still to be incurred in repairing the front field. Of this amount, £11,795 has not yet been accounted for as income, but has been deferred on our balance sheet as it relates to future costs to be incurred in 2025 and 2026. Horses We started 2024 with 23 horses. We sadly had to put down Scoop (August), Dom {Decernber) and Daisy {DeMber) but we acquired 3 new horses during the year- Newbie, Pea, and Phil. and we 2180 have Theo on trial. Therefore, at year end including Theo we had 24 horses. Liz Hedge resigned in December 2024 after a long period of absence through ill health. We wish LE all the best for the future. Ffion Curtis passed BHS Stage 2 Coach AssessTnenl and BHS Stage 3 Lunge" Amelia Mccarthy passed BHS Stag8 3 Lunge & Care., Maz Ray passed BHS AdVand Coach and BHS Stage 5 Long Lunging. Stsff remuneration 15 reviewed annually by th8 Board of Truslees, having tsken into consideration the rate of inflation, employment market conditions as well a5 performance. Remuneration for new staff is also approved by ihe Board of Trustees. Trustees There were no changes to the Board since the last Trustees Annual Report. Aggregats total donations by members of the Board wer8 £1,512. A Volunteer Working Group was set up in January 2023 to improve volunteer recruitment and rètentiC. A Volunteer Thank You Event was held in June 2024. and was wo11 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. Non-Disabled R. 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. Firsuy, by keeping the horses exercised and schooled, without requiring staff. Secondly, by generating £45,000 of Incom812023= £47,000) in th8 year. And thirdly, by promoting Diamond in our local community. generating interest from new riders in becoming future volunteers.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 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 ab to continue providing our services to the disabled commLfnity. Our aim Is always to keep riding affordable and we continue to heavily subsidise all our riding aclivities from income and donations. Fundralslng & Events Our main one-off event was again our Autumn Fair, held on the last Sunday in Sèptember. This was attended by an estimated 3,000 visitors, and generated a profit of over £22,000 (2023.. £20,000)- We were grateful for sponsorship of £1,000 from Ihe Suffey Masonic Sports Associalion. We organised several further events, including: 50th Celebration Party at Oaks Golf Club in May. raising over £1,200. We had a lovely evening of fvn, dancing, and sharing memories. A massive thank you to the fundraising team for organising such a special event. "Sunset Evening. at Mayfield Lavender Fami, in July was another fundraising success. Unfortunately. there was no sunset but The Banstead Show Choir an(1 the Madder Mill Molly MO1$ Dancers put on an arnazing show. and an enjoyable 8V8ning was had by all. Our thanks to Mayfield Lavender Farm for their generous support. Long reigning demonstration in May, with Sarah MacDonald. It was great to leam about a new activity and watch the staff show off Iheir skills. Multiple successful fundraising and oulreach events at the Banstead Rotary Village Fair. the Belmont Festival and the ChurGh of Good Shepherd Mldsummer Falr. In May a group from Diamond took part in an 8.&mile circular walk in the North Downs a sponsored walk, organised by Banstead Rotary and raised money for Diamond. The annual Carshalton Beeches Garden Club Plant Exchange raised over £1,700 for Diamond. In addition, our Servery, now upgraded with a vending machine. raised over £1,300. Totsl fundraislng expenditltre was £18.141 and direct Income from fijndraising was £52,266. Trustees believe the amounL of expenditure was entirely appropriate and proportionate in relation to the related income. in Total donations & horse sponsorship was £103,974 (2023." £99.308). We were very grateful for all donations and wish to note with gratibjde the following non-personal donations of £5,000 and over. Bryan & Julie Amos Foundation £10.000 Apax Foundation £5,100 Total grant income shown in the Statement of Financial Activities includes two grants received in 2022, which were used to invest in capital projeds, being (i) Sutton Neighbourhood Fund (£21,363) for outbuilding roof improvements, and (li) Lottery Grant (£10,000) for a horse carriage. Whilst both grants had previously been amortised over the corresponding depreciation period for the assels purchased, given the absence of any performance related conditions, the full InMe has now bean recognis8d in th8 Stat8m8nt of Financial Activitiès. This has resulled in net income for the year of £28.778. Other significant income from grants includèd releas8 of grants received in the prior year for the arena resurfacing project (£22,600) and the lecture room upgrade (£14,837). Total income from grants was £73.232 (2023. £2,068). We were extremely gratefvl lo receive legacies of £33.013 in the year, including £28.013 from the estate of Marian Larner and £5.000 from the estate of Elizabeth Kent.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnancial review The charity's financial position at the end of the year ended 31 December 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows: . 2024 2023 Net income l (expenditure) £44,611 £237,587 Unrestricted Revenue Funds Restricted Revenue Funds 2,108,085 41.602 2.072,118 32,958 Total Funds £2,149,687 £2,105,076 Flnancial review of the position at the reporting date, 31 December 2024 The Net income l expenditure shown In the table al)ove can be further broken down as follows: 2024 £ (22,5201 2023 £ (84,699) N8t operating result before legacy incorne & investments On&off legacy income Rèvaluation of investments £33.013 £34,118 £199.577 £ 122,709 Net income l (expenditure) £44,611 £237,587 The operating result from core operations before one-off legacy income and investment accounting was hlgher than the previous year, by £62,179. This was mainly due to higher income from grants. Nel incom8 was positively affected in 2024 by a positive revaluation of investments of £34,118 {2023.' £122,709>. Our CCLA fund, which represents 98 /0 of our investment portfolio recorded a 50A increase in th8 year. 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 infraslruclure further to mainlain a safe, secure and sustainable operation. Trustees mainlain an ongoing objective of delivering a balanced operaling budget (excluding one4)ff legacies), while utilising reserves and legacy income to upgrade and enhance our horse riding and relatsd facilities. In relation to unrestricted reserves. the amount freely available for usè, exclusiva of thè carrying value of tangible fixed assets, is £1,890.982. Given the charity's risks, and its obligations in relation to maintsining ageing infrastructure, the Trustees believe this amount also represents an appropriate target. Avallablllty and adoquacy of assets of each of the funds The Board of Trustees is satisfied that the CharItS assats In each fund ar6 available and adequate lo fulfil its obligations in respect of each fund.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investment policy and Investment objectives The investmerrt objeclive is to seek a total retum composed of capital gains and income sufficient to preserve the real value of the portfolio against infiation, wllh a focus on income utilising a balanced and diVeIr1ed blend of assets with a medium risk profile. Prln¢lpal rlsks and uncertainties The Trustees are cognisant of several material risk5 facing the Centre, and this is r8fflected in the conservativ8 res8Nes policy adopted. Risks and uncertainties include (il health of our horses, wh8re for example a contagious disease could significantly interrupt our programme of activities, (li) damage lo our infrastructure caused by adverse weather, stom, fire, or other Gauses. (iii) unforeseen building and maintenance costs on our ageing physical infrastructure (iv) accident or other incident which causes personal injury and repLrtational damage. Plans for future periods While no significant changes are planned to the scope and nattjre of operations Trust8es are planning further infrastructure upgrades, including re-building of horse boxes. creallon of a "Pony Cornerf area for non-riding activities. and creation of a hard surface track at Croydon Lane to enable easier vehlcle access to our grazing fields. structure, governance and management The charitsble company is a company limited by guarantee. Under the Constitutior) and Articles of As50cialion of The Diamond Centre for Disabled Riders, the Trustees are ultimat81y responsible for all aspects of governance- for ensuring the aims of the chaiity are upheld. ov&rseeing strategy., safeguarding the charities assets,. development and ensuring the charity is sustainable. The trustees. who are also the directors for the PUTPOSè of company law, and who served during the year and up to the date of signature of the financial statements were: SJAxon T Edwards CA Bedwell K Hobden AA Pfeifer C F Snowdon R Stuart M C Taylor
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The methods used to recrult, appolnt, and Induct new charlty trustees When new or addilional trustees are recruited, they are elected by the Members or cTropted by the Trustees. All Trustees are also Mernbers, and support the Objects of the charity. as set out above. The Trustees retire at each Annual General Meeting {"AGM°) of the tharity. 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 govemance responsibilities including Charity Commission guidance. New Trustees are also expected to complele RDA learning modules on govemance and safeguarding. None of the trustees has any beneficial interest in the company. All of Ihe trustees are members of the company and guarantse to contribute £1 in the event of a winding up. Company Name The legal name of th8 charity is The Diamond Centre for Disabled Riders. Charlty Reglstrauon Numbor The charity is reglster8d in England & Wales with Ihe Charity Commission with charity number 1045970. Legal structure of the charlty The governing document of the charfty 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 as amended by special resolution on 17 April 2020 and 28 April 2005. By operation of law all Iwstees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities under both company and charity legislation. Declslon maklng and delegatlon ot authority The day-to-day management of the centre is devolved to the Centre Manager and Staff. The Chair, Mce-chair and Treasurer maintain close contact on a weekly ba51S to support Ihe Centre Manager. Membership As at 31 December 2024 the Centre had 78 members {2023: 92). Membership is open to those supporting the Centr8's work. Statement of trustees, responsibilities The trustees, who are also the directors of The Diamond Centre for Disabled Riders for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicabl8 law and United Kingdom Accounting Slandards (United Kingdom Generally ACPted Accounting Practice). Company law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incorning resources and application of SOUrCes, including the income and expenditure, of the charStable company for that y88r. In preparing these financial statements, the trustees are required to.. select suitable aGttiunting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 {FRS 102). make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Stsndards have been followed. subject to any material departures disclosed and explained in the financial statements- and prepare the financial ststements on the going concern basis unl8SS it is inappropriate kn presume that the charitable company wlll continu8 in operation.
THE DIAMOND CENTRE FOR DISABLED RIDERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable cornpany 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 staps for the prevention and detection of fraud and other irregularities. Auditor In accordance with the companls artides, a resolulion proposing that Kingston Burrowes Audit Ltd be reappointed as auditor of the company will be put al a General Meeting. Statement as to dlsc108ure of infomiation to auditors Each of the trustees has confimied that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have tsken appropriate st8PS to identify such relevant Infomiation and to establish that the auditor is aware of such infomiation. In preparing Ihis report. the Trustees have tsken advantage of the small companies exemptions promded by section 415Aof the CompaniesAct 2006. Th8 trustees. report was approved by the Board of Trustees. C F Snowdon Chair 1 May 2025
THE DIAMOND CENTRE FOR DISABLED RIDERS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DIAMOND CENTRE FOR DISABLED RIDERS Oplnion We have audited the financial ststements of The Diamond Centre for Disabled Riders (the 'chaTitabb company'l for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applKable in the UK end Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the slate of the charitable companls affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance wrth United Kingdom Generally Apted Accounting Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls 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 Auditorfs responsibilitS for the audit or fhg 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 ststements in the UK, including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilit18s in accordance with these requirements. We believe thal 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 concem basis of armunting in the preparation of the financial statements is appropriate. Based on tha work we hav6 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 nrn for a period of at least twelve months from when the financial statements are aulhoris8d for issue. Our responsibililies and the responsibilities of the trustees with respect to going concem are described in the relevant S8ctsons of this report. Other Informatlon The other infomiation comprises the information included in the annual report other than the financial stalements and our auditovs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to d8temiine 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 infomation, we are required to raport 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 worf( undertaken in the course ofthe audit.. the information giv8n in th8 trustees, report which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with atplicable legal requirements.
THE DIAMOND CENTRE FOR DISABLED RIDERS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE DIAMOND CENTRE FOR DISABLED RIDERS Irregularilies, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detecl material misstatements in respecl of irregularÉties, induding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below= Enquiry of management and those charged with governance about actual and potential litigation or daims and the identification of non-complianGe with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing lo supporting documentation to assess compliance with applicable laws and regulations. Auditing Ihe risk of management override of controls, including testing joumal entries and other adjustments for approprialeness,. assessing whether the judgements made in making accounting estimates are indicative of a polenlial bias; and evaluating the business rationae 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 misstatement due to fraud. Professional scepticism in course of the audit and with audit sampling in material audit areas. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a malerial misstalement in the financial statemenls or non<omplian¢e with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in Ihe financial statements, as we will be less likely to become aware of inslances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather Ihan error, as fraud involves intentional concealment, forgery, collusion, oTnission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at= http5'.11 INWW.frc.org.ukJauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This reporl is made solely to the Gharilable company's members, as a body, in a¢cordance 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 reporl and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitsble company's members as a body. for our audit work, for this report, or for the opinions we have formed. Kevin Fisher BA FCA CTA (Senior Statutory Auditor} For and on behalf of Kingston Burrowes Audit Ltd. Statutory Auditor 308 Ewell Road Surbiton Surrey Iff6 7AL 2 May 2025 Kingston Burrowes Audit Ltd is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 11
THE DIAMOND CENTRE FOR DISABLED RIDERS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE DIAMOND CENTRE FOR DISABLED RIDERS Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and ils environment obtained in the course of the audtt. we have not identified material misslatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relalion to which thè Companies Act 2006 requires us to report to you if, in our opinion= the information given in the financial statements is inconsislent in any material respect with the trustees, report: or adequate accounting records have not been kept, or returns adequate for our audit have not been received from branche5 not visited by us,- or the financial statements are not in agreement with the accounling records and returns., or we have not received all the infomation and explanations we require for our audit., or Ihe trustees were not entrtled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a slrategic report. Responsibilities of trustees As explained more fully in Ihe statement of trustees. responsibilities, the trustees, who are also the directors of the charttable company for the purpose of company law, are responsible for the preparation of Ihe financial stalements and ft)r being satisfied that they give a true and fair view. and for such internal control as the trustees determine is ne*ssary to enable the preparation of financial slatements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial statements. the trustees are responsible for assessing the charitable companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and Ltsing the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to ase operations, or have no realistic altemative but to do so. Auditoffs responsibilities for the audit of the financial statements Our objeclives 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 slatements. 10-
THE DIAMOND CENTRE FOR DISABLED RIDERS STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrnstrlcted Restricted funds funds 2024 2024 Total Unrostrfcted Restrfcted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Other trading activilies Investments 144,209 220,260 59.341 54.510 66.010 210.219 220,260 59,341 56,330 258.170 180.166 50,480 43,528 42.783 300.953 180,166 50.480 45,258 1.820 1,730 Total incomo 478,320 67,830 546,150 532,344 44.513 576.857 Expenditure on: Raising funds Charitable activities 17.864 478.268 277 39.248 18.141 517.516 12,562 406.554 79 42,784 12,641 449,338 Total expenditure 496,132 39,525 535,657 419.116 42,863 461,979 Net gainslllosses) on investments 13 33,361 757 34.118 123,408 (699) 122,709 Net income 15,549 29,062 44,611 236.636 951 237,587 Transfers be88n funds 20,418 (20.418) 1.730 (1,730) Net movement in funds 10 35,987 44.611 238,366 (779) 237,587 Reconcilialion of funds.. Fund balanc8s at 1 January 2024 2,072,118 32,958 2.105,076 1,833,752 33.737 1,867,489 Fund balances at 31 December 2024 2,108,085 41,602 2,149.687 2.072.118 32,958 2,105,076 The statement of financial activities includes all gains and losses recognised in the year. All Income and expenditure derive from continuing activities. The notes on pages 15 to 29 form part of these financial statements. 12-
THE DIAMOND CENTRE FOR DISABLED RIDERS BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Investments 15 16 217,103 1,729,548 237,453 1.495,429 1,946,651 1,732,882 Current assets Stocks Debtors Cash at bank and in hand 17 18 1,794 30,939 219,964 2.769 66,987 428,247 252,697 498,003 Credltors: amounts falllng due wlthln one year 19 (45.914) (99.100) Net ¢urrent assets 206.783 398,903 Total assets less current liabilities 2,153,434 2.131,785 Credltors: amounts falling due after more than one year 20 (3,747) {26,709) Net assets 2,149.687 2.105.076 The funds of the charitable company Restricted income funds Unr8Stricied funds 23 24 41,602 2,108,085 32.958 2,072,118 2.149.687 2,105,076 The notes on pages 15 to 29 fomi part of these financial statements. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial ststements have been prepared in accordance with the provisions applicable to companles subject totha small companies regime. The financlal ststements were approved by the trustees on 1 May 2025 AA Pfeifer Treasurnr C F Snowdon Chair Company registration number 03042659 (England and Wales) 13-
THE DIAMOND CENTRE FOR DISABLED RIDERS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash {absorbed by)Igenerated from operations 28 {62,612) 114,820 Investing actlvltlos Purchase of langible fixed assets Purchase of investments Inveslment income reiVed (2,001) (200,000) 56,330 (50,773) 45.258 Net cash used In Investing activities (145,671) (5,515) Not cash generated from flnancing aclivities Net (decreaseyincrease in cash and cash equivalents (208,283) 109.305 Cash and cash equivalents at beginning of year 428,247 318.942 Cash and cash equivalent5 at end of year 219,964 428.247 The notes on pages 15 to 29 fom part of these financial slatements. 14-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢ies Charity information The Diamond Centre for Disabled Riders is a private Company limited by guarantee inwrporated in England and Wales. The regISted Offi is Woodmansterne Road, Carshalton, Surrey, SM5 4DT. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charitable companys goveming document. the Companl6s Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charitl8s'. Statement of Recommended Practice applicable to charities preparing their accounts in aeKordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial Statements have been prepared under the hlstorlcal cost convenlion. modified to include the revaluation of investment assets and certain financial instruments at fair value. The principal accounting policie5 adopted are set out below. 1.2 Going concem At the time of approving the financial ststemenls, the trustees have a reasonable expectation that the Ghartt2ble company has ad8qU8te resources to continue in operational existence for the foreseeable future. Thus th8 trust88s continue to adopt the going conrn basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furlherance of their charitable objectives. Restricled funds are subjecl to specific conditions by donors or grantors as to how they may be used. The pUOseS and uses of the restricted funds are set out in the notes to the financial ststements. Endowment funds are subject lo specific conditions by donors that the capital must be maintained by the charitable company. 1A Income Incorne is recognised when the charitable company is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donallons 8r8 recognised onc8 th6 charilab18 company has been notified of the donation, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant 15 recognised at the time of the donation. Legacies are recognised on rec81Pt or otherwise rf the charitable company has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known. the legacy is Ireated as a contlngent asset. 15-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (Conllnuod) 1.5 Expenditure Expenditure 15 recognised once there is a legal or constructive obligalion to transfer economic benefit to a third party, it is probable that a transfer of economic b8nefits will be required in settlement, and the amount of the obligation can be measured reliably. Exp8nditure is ctassified by activity. The costs of each activity are made up of the total of dIrt costs and shared costs. including support costs involved in undertaking each activlty. Direct costs attributable to a single adivity are allocated direcuy to that activity. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single activity are apportioned be88n those activities on a basis consistent with the use Df resources. Central staff costs are allocated on the basis of time sp8nt, and depreciation charges are allocated on the portion of the asset's use. 1.8 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently m8asured at cost or valuation, net of depreciatlDn and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases= FehOld land and buildings Plant and equipment Motor vehides 5°/0 - 10% straight line. Land not depreciated. 10% . 200h straight line 20% slraight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carying value of the asset, and 15 recognised in the statement of financial aGtivities. 1.7 Fixed a55et Investments Fixed asset investments are Inilially measured at transaction pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrnient of fixed assots At each reporting end date, the charitable company reviews Ihe carrying amount5 of Its langible assets to determine whether there is any indication that those assets have suffered an imp8imient loss. If any such indication exists, the recoverable amount of the ass8t is estimated in order to detemiine the extent of the impaimient loss lif any). 1.9 Stocks Stocks are stated at the Iow8r of cost and estimated selling prlce less costs to complete and sell. Cost comprises direct materials and. where applicable, direct labour costs and those overheads that have bean incurred in bringing the stocks to their present location and condition. Item5 held for distribution at no or nominal consideration are measured the lower of replament cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in markeling, selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-temi liquid investments with original maturitSes of three months or18ss, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 16-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policles (Continued) 1.11 Financial instruments The charttable company has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instrurnenls. Financial instruments are recognised in the charitable companvs balance sheet when the charitsble company become5 party to the contractual provisions of Ihe instrument. Financial assets and liabilities are offset, with the net amounts presented In thè flnanclal statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention trj settle on a net basis or to realise the asset and settle the liability simultaneousty. Basic financial assets Basic financial assets, which include debtors and Cash and bank balances, are initially measured at transaction price including transaction cosls and are subsequently carried at amortised cost using the effective interest method unless the aangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a rnarket rate of interest. Financial assets classified as receivable within one year are nol amortised. Basic financial liabilities Baslc financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate melhod. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinay cOue of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amort15ed cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when Ihe charitable company's contractual obligations expire or are discharged or cancelled. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide tennin81ion benefits. 1.13 Retirernent beneflts Payments to defined contribution relirement benefit schemes are charged as an expense as they fall due. 17-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crttical accountlng estimates and judgeménts In the application of Ihe charitable company's accounting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions ara based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumplions are reviewed on an ongoing basis. Revisions to accounling estimates are recognised in thé period in which the estimate is revised where the revision affects lY that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income frorn donatlons and legacles Unrestricted Restrlcted funds funds 2024 2024 Total Unrestricled Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacie5 Grants 66.742 33,013 44,454 37.232 103,974 33.013 73,232 58,593 199,577 40,715 99,308 199,577 2,068 28.778 2,068 144,209 66.010 210,219 258,170 42,783 300,953 Income from charttable actlvlties Unrestrlcted funds 2024 Unrestrfcted funds 2023 Riding fees Income 136,289 123.411 Courses and lessons Income 51,605 48,748 Speclal events Income 2,760 3,408 Sundry receipts other income 29,606 4,599 220,260 180,166 18-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other trading activitses Unrestrlcted Unrestricted funds funds 2024 2023 Fundraising events Letting 52,266 7.075 42,345 8,135 other trading activiti8S 59.341 50,480 Income from investments Unrestricted RestrTCted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Income from listed investments Interest receivable 43,567 10,943 1,820 45,387 10,943 40,527 3.001 1,730 42,257 3.001 54,510 1.820 56,330 43.528 1,730 45,258 Expendlture on raising funds Unrestricted Restricted funds funds 2024 2024 Total UnrestriGted Restricted funds funds 2023 2023 Total 2024 2023 Fundrdising and publicity Fundraising events Servery purchases 9,920 277 10,197 7,944 8,568 3,994 8,647 17,864 277 18.141 12,562 79 12,641 All the expenditure on raising funds are dired costs for both 2024 and 2023. 19-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvitie5 Riding and Rldlng and carriage carriage driving drlvlng 2024 2023 Direct costs Staff costs Training and instructton Upkeep of ponies Special events Agricultural vehide costs Driving group 166.622 3,724 53,119 2,737 5.574 150 145,323 5,250 46,782 2,906 7,210 36 231,926 207.507 Share of support and governance costs (seo nots 9) Support 285,590 241.831 517.516 449.338 Analysls by fund Unrestricted funds Restricted fvnds 478,268 39,248 406.554 42,784 517.516 449,338 -20-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activities 2024 2023 Staff costs Depreciation Rent. rates and water Sundry costs (including staff and volunteers costs) Light. heat and power Maintenance of premises Groundsmen and cleaning Maintenance and hire of equipment Insurance IT, licenses and, subscriptions and memberships Bank charges Postage, stationery and copying T81ephone Governance costs 60,138 22,350 4,519 9.189 17,252 122,088 7,391 5,741 22,260 4,698 1,749 1,262 1,553 5,400 56,265 22,588 7,617 4,587 18,863 79,368 9.014 4,828 21,144 9,678 1,371 785 {27) 5,750 285,590 241,831 Analy8ed between: Riding and carriage driving 285,590 241,831 10 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting)- Fees payable for the audit of the chariLy's financial statements Depreciation of owned tangible fixed assets Ground rent, rates and water 3,600 22,350 4.519 2,950 22,588 7.617 11 Trustees None of the trust88s {or any persons connected with them) received any remuneration or benefits from the charitable company during the year and previous year. No trustees expensés have b88n incurred during the year and the previous year. 12 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 11 12 21
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Employees (Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 208.246 10,765 7.749 190,465 4,046 7,077 226.760 201,588 2024 2023 numb8r Av8rage number of employees Full-time Part-time number 11 12 There were no employees whose annual remuneration wa5 more than £60.000. Remuneration of key management personnel The remuneration of key management personnel was as follows: 2024 2023 Aggregate compensation 71.877 66,366 13 Gains and losses on investments Unrestricted RestriGtsd funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Gains1(losses> arising on: Revaluation of investments 33,361 757 34,118 123,408 (699) 122,709 14 Taxatlon The charity is exempt from laxation on its activrtiés because all its income 16 applied for charitable purposes. -22-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tanglble flxod assets Froohold land and bulldlngs Plant and equlpment Total vehl¢les Cost At 1 Janu8ry 2024 Additions Disposals 633,627 306.219 2,001 (3,250) 36,465 976,311 2,001 (3,250) At 31 December 2024 633,627 31)4.970 36.465 975,062 Depreciatlon and impalrnient At 1 January 2024 Deprecialion charged in the year Eliminated in respect of disposals 520,835 3,076 181.T16 19,057 (3,250) 36.248 217 738,859 22,350 (3,250) At 31 December 2024 523.911 197.583 36.465 757.959 Carrying amount At 31 December 2024 109,716 107,387 217,103 At 31 December 2023 112,792 124,444 217 237,453 16 Flxed asset Invesknents Listed Inveslments Cost or valuatlon At 1 January 2024 Additions Valuation changes 1.495,429 200,000 34,119 At 31 Dernber 2024 1,729,548 Carrying amount At 31 December 2024 1,729,548 At 31 December 2023 1.495,429 Thé historic cost of listed investments at 31 December 2023 was £1,583,90512022 . £1,383,905). 17 Stocks 2024 2023 Finished goods and goods for resale 1,794 2.769 -23-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Debtors 2024 2023 Amounts falling due within one year. Trade debtOTS Prepayments and arUed Income 3,049 27.890 1,098 65,889 30.939 66,987 19 Crodltors: amounts falling due within one year 2024 2023 Notes Deferred income Trade creditors other creditors Accruals 21 31,448 7,659 2,331 4,476 39,506 54,194 5,400 45.914 99,100 20 Creditor5: amounts falllng due after more than one year 2024 2023 Notss Deferred income 21 3,747 26,709 21 Deferred Income 2024 2023 other deferred income 35,195 66,215 Deferred incom8 is included in the financial ststements as follows= 2024 2023 Déferred income is included within- Current liabilities Non<urrent liabilities 31.448 3,747 39,506 26,709 35.195 66,215 Movemenls in the year: -24-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Deferred income (Continued) Deferred income at 1 January 2024 Released from previous periods Resources deferred in the year 66,215 (66,215) 35,195 30,846 {30.846) 66.215 Deferred income at 31 December 2024 35,195 66.215 Deferred income of £35.19512023 - £66,215) included above relates to riding fees and compensation from SES water received during the year but relating to fvture aountIng periods. 22 Retlremont benofft schemes 2024 2023 Defined contrfbutlon schemes Charge to profit or It)ss in respect of defined contribution schemes 7,749 7.077 The charitable company operates 8 defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. -25-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Restricted funds The restricted funds of the chartty comprise the unexpended balances of donalions and grants held on trust subject to specific condltions by donors as to how they may be used. Andrew Ballardie Trust his is a fund establlshad to provide an income sufficient to cover th costs of the annual open day. Horse Sponsorship his is a fund to upkeep of horses. Sutton Neighbourhood grant his is a fund used to invest in capital project for OLrtbuilding roo improvements. Since this fund was wholly used to purchase for roo improvements in earli8r year, there was a transfer made from restricted fund to unrestricted fund during the year. The capital asset purchased can be used for any other pUoSe and therefore this ass8 is classed under unrestricted fund. National lottery granl his is a fund used to invest in capital project for a horse carriag8. Since this fund was wholly used to purchase horse carriage in earfie year, there was a transfer made from restricted fund to unrestricted und during Ihe year. The capital asset purchased can be used for an other purpose and therefore this assel is classed as unrestricted fund. Other Restricted Funds These represent the balance of restricted donations and grants received for specific purposes, but not yet expended on those purposes. At 1 January 2024 Incoming Resources resources expended Transfers Gains and losses At31 December 2024 AndW Ballardie Trust Horse Sponsorship Sutton NeighboUth)d grant National lottery grant Other restrcltèd donations 25,555 1.820 (277) <1,820) 757 26.035 (5,1151 32.311 (35,308) 8,112 20.028 (1,068) {18,960) 8,750 (1,000) (7,750) 12,518 4,921 (1,872) 15,567 32,958 67,830 (39,525) 120,418) 757 41,602 26-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Restricted funds (Continued) Provious year: At l January 2023 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 Andrew Ballardie Trust Horse sponsorship Sutton Neighbourhood grant National lottery grant Other restricted funds 26,333 1,730 (79) (1,7301 (699) 25,555 34,594 (39.709) {5,115) 1,068 (1,068) 1.000 (1.000) 7,404 6.121 (1.007) 12.518 33,737 44,513 <42,863) (1,730) {699) 32,958 24 Unrestrlcted funds The unrestiicted funds of the charity comprise the unexpended balance5 of donations and grants which are not subject to specific conditions by (ionors and grantors as to how they may be used. These include designated funds which have beers sel aside out of unrestricted funds by the trustees for specific PUTposes. At l January 2024 Incomlng resources Resources expendod Transfers Gains and losses At31 December 2024 General funds 2.072.118 478.320 {496,132) 20,418 33,361 2,108,085 Previous year: At 1 January 2023 Incomlng resources Resources expended Transfers Galns and losses At31 December 2023 General funds 1,833,752 532,344 (419,116) 1,730 123.408 2,072.118 -27-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 Al 31 December 2024: Tangible assets Investments Current assetsl{liabilities) Long term liabilities 217,103 1,699,759 191.223 217,103 1,729,548 206,783 (3,747) 29,789 15,560 (3,747) 2,108,085 41.602 2,149,687 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible assets Investment5 Current assetsl{liabililies) Long term liabilities 208.756 1,466,396 396,966 28.697 29,033 1,937 (26,709) 237,453 1,495,429 398,903 {26,709) 2.072.118 32,958 2.105,076 26 Operating lease commitments Lessee At the year end and previous year end. the charity had no annual commitments under operaung leases. 27 Related party transactlons There were no other disclosable related party transactions during the year (2023 - none). -28-
THE DIAMOND CENTRE FOR DISABLED RIDERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 28 Cash (absorbed byvgenerated from oporatlons 2024 2023 Surplus forthe year 44.611 237,587 Adjuslments for. Investment income recognised in statement of financial activities Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (56,330) (34,118) 22,350 (45,258) (122,709) 22,588 Movernents in working upital: Decreasel(Increase> in stocks Decrease1(incase) in debtors {DecreaseYincrease in creditors {Decr8aseYincr8ase in deferred incom8 975 36,048 (45,128) (31,020) {293) (49,497) 37,033 35,369 Cash (absorbed by)Igenerated from operatlons (62,612) 114,820 29 Analysis of changes in net funds The ¢*arit8ble company had no mat8rial debt during the y8ar. -29-