Charity number: 1139668 DIAMOND EDUCATION GRANT UNAUDITED TRUSTEES, REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
DIAMOND EDUCATION GRANT CONTENTS Page Referonca and administrative dotallB of the Charity, Its Trustees and Advlsers Trustees, report Independent Examlnor's report Statement of financlal actlvltles BalanGe sheat Notes to th• flnanGial statements 8-13
DIAMOND EDUCATION GRANT REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Anne Child Jennie Walker Claire Wilkinso Ameela sabhaal Gwynneth O'Rourke lappolnled 13 May 2025) Sandra Taylor lappoinled 14 March 2025, resigned 24 April 20251 jgdISh Kaur Attwood Ireslgned 3 November 20241 Charity registered number 113g668 Prlnclpal offic 2nd Floor Beckwilh House I Wellin9lon Road North Slockporl Cheshire SK4 1AF Indepgndent Examlner Vivien Cro$$ AcGounlan¢y Servlces Limlled Chartered Ac¢ountsnts Bracken Clough Start Lane Whaley Bridge Derbyshire SK23 7BR Bank8r8 Nalwesl Slo¢kport Underbank Hall 10 Great Underbank Stockport Cheshlre SK1 1LL Invostm•nt Manager8 Paradlgm Norton Paradlgm House Macrae Road Ham Green Brlslol BS20 ODD Page 1
DIAMOND EDUCATION GRANT TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2024 10 31 March 2025. Stru¢ture* governance and management The Diamond Educallon Grant is a registered charity, an unincorporated association, in England and Wales. 11 was registered a8 a charity on 5 January 2011, and Is a conlinualion of the former Golden Jubilee Fellowshlp. Th8 Charity has a close relationship with Soroptimisl International of Great Britain and Ireland ISIGBII Limileé {SIGBI Limited). Al present, there are five Trustees on the Board including a Director appolnted from the Board of SIGBI Limlled. The Truslee5 who have served during the year lo 31 March 2025, and since the year end, are sel out on page 1. Publlc benefit The Dlamond Educallon Grant ¢ontribule8 lo the public beneflt through Ils activity of making grants lo women who are in need of financlal assistance for educational purposes. The granls enable the women lo return lo employment, or move lo 8 growing industry. by awuirlng new skllls. The educational grants contribute lo raising the standard of education among women, who rnay not otherwise be able lo improve Ihelr circumstances, thos8 of Ihelr family, or th8 communlly In which they Ilve. Plans for future perfod8 The Trustees plan lo conllnue provldSng educallonal grants lo womon in accordance wSlh ils objecllves. In addllion the Trustees wlll.. Provide Iralning and inducllon for new and existing Trustees lo ensure that the management of th8 Charity Is robLJSt'. Seek lo Involve Members ol SIGBI Limited in mentoring Applicants,. and Continue to promote the Charity wllh Members of SIGBI Llmiled wllh a view lo Increasing income, and the number of women who wlll benefit as a result. ObJ•ctlves and actlvltle8 The object of the Charity is lo provide educational grants lo women, who wlsh lo update their skills In order lo return lo employment, or lo acquire new skills needed lo enter a field where employment prospects are greater. The benefits of educating women and girls, In time has become recognlsed as the most effective way of ralslng nallons out of poverty and reducing international ¢onflicls. The oflen-quoted African proverb, 'If you educate a man you educate an individual, bul if you educate a woman you educate a family Inalionl. The United Natlons Girls, Education Initiative, 'When girls gel the education they need, there is a ripple effect thal benefits everyone.. The principal activity of the Charity Ss the provision of grants lo women, who SIde in the counlrles of the Federation, and who need financial as8islan¢e. To achieve this objective the Charity invites applicatlons from women residing in the countries served by SIGBI Limited, and who need financial assistsnce with their educallon. Page 2
DIAMOND EDUCATION GRANT TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 AGhlevem6nt$ and performance During the year to 31 March 2025 the Charity made grants lotsling £28,000 (2024= £38,642) to 28 women12024'. 37 women}. The average grant for the year was £1,07612024'. £1,044). Financlal ravlèw We are grateful for the on9olng support of the Members of SIGBI Limited, wilhoul which the Charity would be unable lo provlde educational grants lo the women who are in need of assistance. The grants are funded by investment income, plus levies, donations and bequests from current and former Members of SIGBI Limited, and collecled by SIGBI Limited on behalf of the Charity. A svmmary of the results for the year is given in the Slalemenl of Finan¢ial Activities on page 6. and on Nolgs to the Financial Slalements on pages 7 10 13. During the year Ihg lolal incoming resources including a bequest of £20,101 {2024'. £1,000) were £30,g42 12024.'£10,5771. Total outgoing resources were £29,80212024.' £4D,170} ofwhlch charitable gran15 were £28.000 (2024.. £38,642). Support and governance costs of £1,80212024.' £1,528) were 60{2024.. 3.80/0) of total costs. No Trustee rgcelved any remunerallon or benefits of any kind from the Charity in the current or previous year. Thg market value of inv881menl$ as al the 31 March 2025 was £122,909 {2024'. £125,327). Afler making appropriate enqulrles, the Tru81e$s have a reasor)able expe¢lation that the Charity has adequale Te50urces lo continue In operallonal èxistence for the foreseeabl8 future. For this reason, they contlnue lo adopt the going concern ba51s in preparing the flnancial slalemenls. Further details regarding the adoption of the going ¢oncern basls c8n be found in the accounting policios. Ro¥8rve8 poIIcy The Trustees review the amount of reserves held by the Charlly lo ensure that they are sufflcienl lo meet future ommilmenls ané provlde for ils charitable aims. They have concluded that a reserve of £20,000 shId be mainlalned. Al 31 March 2025 the free reserves of the Charlty wore £163,22412024'. £164.5021. All funds In the current and previous year are unrestricted. Page 3
DIAMOND EDUCATION GRANT TRUSTEES. REPORT (CONTINUED) FOR THEYEAR ENDED31 MARCH 2025 Statement of Trusteos. responsibilities The Trustees are responsible for pwparir¢g the Trustees, reptsrl and the financial statements in accordance with applicable law and Unlled Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting pract). The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for each flr)ancial year which glve a Iwe and fair view of the stsle of affairs of the Charity and of its incoming resources and application of resources, including it5 income and expenditure. for that period. In preparing these financial slatemenls, the Trustees are required lo= select suitable accounting policies and thgn apply them ¢onsislenlly,' observe the methods and principles of the Charities SORP IFRS 102)., makejudgemenls and accounting esllmales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 102) have been followed, subject lo any material departures disclosed and explained in the financial slalemenl9', prepare the financial slalemenls on Ihe going concern basis unless il is inappropriate to presume that the Charlty wlll continue in busine¥5. The Trustee5 are re8ponslb18 for k&gplng adequate accounting records that are sufflcienl to show and explaln the Charity's transactions and dlsclose with reasonable accuracy al any lime the financial posillon of the Charity and enable them lo ensure that the financial slalamon15 comply with the Charities Act 2011. the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Trusl deed. They are also re8pon¥lble for safeguardSng the assets oflhe Charity and hene6 for taklng reasonable steps for the provenlion and detecllon of fraud and other Irregularities. Approved by der of the members of the board of Trustee8 and slgned on Ihelr beh81f by-, Jennle Walker Chairman of Trustees Dale: kn 'a. 2n Page 4
DIAMOND EDUCATION GRANT INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED31 MARCH 2025 Indèpendent Examlnér'$ rgport to the Trustees of Dlamond Education Grant I'the char51) I report lo the charlty Trustees on my examination of the accounts of the Charity for the year ended 31 MÉrch 2025. Responsibllitles and basis of report As the Trustees of the Charity you ar& responsible for the preparation of the accounts in accordance with the requirements of the Charlli85 Act 2011 I'lhe 2011 Act'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission L¢nder section 14515llbl of the 2011 Act. Independent Examlner'8 statement I have Completed my examlnation. I confirm that no mallers hav9 come lo my attention in connection with the examinallon givlng me cause lo believe that In any material respect.. accounting records were not kept In re8pert of the Charlly as rsqulred by secllon 130 of the 2011 Act,. or the accounts do not accord with those rtscords,. or the accounts do not comply with the applicable requlremenls concerning the form and conlenl of accoun18 8el out in the Charllies (Aecounls and Reports) Regulallons 2008 other than any requirement that the accounts give a 'lrue and fairf view whlch 1$ nol a matter consldered as part of an independ8nl exarnlnalion. I have no concerns and have come 8¢ross no other mallèr$ In connecllon wllh the ex8mlnalion lo whlch allentSon should be drawn in thi8 report in order to enable 8 proper understanding of the accounts lo be reached. This report Is mado solely to the Charlly's Trustees, as a body, in accordance wllh Parl 4 of the Charilles (Accounts and Reporlsl Regulalions 2008. My work has been undertaken so that I might slate lo the Charlly's Trustees those matters l am required to Stale lo Ihem in an independent examiner's report and for no other purpose. To the fullest exlenl permilled by law, I do not aecepl or assume responsibility lo anyon6 other than the Charity and Ihe Charity's Tru81ees a5 a body, for my work or for thls report. Slgned.. Dated.. '2Q. 1. Vivien Cro$s BA (Hons) FCA Vivien Cross Accountancy SeNlce8 Limited Chartered Accourslanl$ Bracken Clough S13rt Lane Whaley Bridge Derbyshire SK23 7BR Page 5
DIAMOND EDUCATION GRANT STATEMENT OF FINANCIAL AcTV41lEs FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlctod funds 2025 Totsl funds 2025 Tolal funds 2024 Note Income from: Donations and legacies Investments 26,742 26,742 6,315 4,262 Total InGome Expendlture on: Charitable activities Support and governance costs 28,000 1,802 28,000 1.802 38,642 1,528 Total expendlturo 40,170 Not movement In funds before other ¢ognlsod galnsl{losses) 1,140 1,140 129,5931 Other rocognlsed galnsl(los888} 12,418) (2,418) 6,284 Net movemenl In funds 1,278 1,278 123.309) Reconclllatlon of funds Total funds brought forward Nèt movement In fund5 164,502 164,502 (1,278) (1.278) 187,811 123,3091 Total funds carrlod for4vard 163,224 163,224 164.502 The Statement of Flnancial Activities includes all gains gnd105ses recogni8ed the year. The rK)les on pages 8 10 13 form part of these financial stalemonls. Page 6
DIAMOND EDUCATION GRANT BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Note Flxéd assets Invostmenls 122,909 125,327 122,909 125,327 Current assets Debtors 2,335 38.925 1.443 38,678 Cash at bank and in hand 41,260 40,121 Creditors.. amounts falling clue wlthln ono year 10 {945) 19461 Not current assot8 40,315 39,175 Total a880ts le88 currgnt Ilabllltles 163.224 Total net a880ts 163,224 164,502 Charlty fund8 Reslrlcled funds Unreslricled funds 11 163,224 164,502 Total fund8 163,224 164,502 The financial statements were approved and aulhorlsed for i$sue by the Trustees and signed on their behalf by.. Jennle Walker chairman of Trustees Date.. Z6. Tr. 201r' Tho notes on pages 8 to 13 fomi parl of these financial slalemenls. Page 7
DIAMOND EDUCATION GRANT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General Informatlon The charity is a public benefit entity and a registered charty in England and Wales and is unincorporated. The address of the principal office is 2nd Floor Beckwilh House, 1 Wpllinglon Road North, SIoGkport, Cheshire, SK4 1AF. Accountlng poll¢ies 2.1 Basis of preparation of flnanclal statèmgnt$ Tha financial statements have been prepared in accordance wllh the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accoun18 in accordance with the Flnancial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 and the Charities AGI 2011. DSamond Education Grant meets the delinllion of a public benefit enlily under FRS 102. Assets and liabilllies are initially re¢ognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Golng concem The flnaneial slalemenls have been prepared on a going concern basis which assumes an ablllly lo continue operating for the for05eeable future. The Trustees are confident that Ihe charity will continue as a going concern. With free reserves of £163,22412024.' £164,502> hold by the charity, cash of £38,925 (2024.. £38,878) and Investments of £122,90912024'. £125,327), which can be liquldaled al any lime, the charSly can continue lo operate at Ils currenl16vel of acllvily. 2.3 Income Income from donations or grants is recognlsed whèn there Is evlden¢e of enllllement lo the glfl, receipt is probable and the amounts can be measured reliably. Legacy incom8 is recognised when receipt is probable, and enlillement 1$ established. Donated facillliès and services are recognised in the accounts when received if the value can be rellably measureij. No amounts are included for the conlribullon of general volursleers. Income from conlra¢ls for the supply of services Is reeognised wllh the delivery of the contracted service. Thls Is elassrfied a5 unrestricted funds unless there is a contractual requiremenl lor il lo be spent on a particular purpose and returned rf unspent, in which case il 18 recognised as reslricled. Page 8
DIAMOND EDUCATION GRANT NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies (contlnued) 2.4 Expendlture Expenditure is recognised once there Is a legal or conslru¢live obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economi¢ benefits will be requlred in selllement and the amount of the obligation can be measured reliably. Expenditure is classSfied Eiy aclivily. The cost8 of each activity are made up of the total of direct Costs and shared costs, inclLtding support costs involved in undertaking each activity. Direct costs atlribulable lo a single activity are allocatèd directly lo that activity. Expenditure on charltsble activities is incurred on directly unéerlaking the acllvilies whSch further the Charity's objectives, as well as any associated support costs. All expenditure is incluslve of irrecoverable VAT. 2.S Investments Fixed a5sel Investments are a form of financial instrument and are Initially recognised al their transaction cost and subsequently measured al fair value al the balance sheet date, unless the value cannot be measured reliably in which case11 Is measur8d al co81 less impairment. Investment gains and losses, whether realised or unrealiseol, 8re combined and presented as 'GainsllLosse$l on inve5tmenls' in Ihe Slalemenl of Financial A¢livities. 2.6 Dobtor8 Trade and other debtors 8r8 recognlsed al the selllemenl amount after any trade discount offered. Prepayments are valued 31 the amount prepaid nel of any trade dl8counls due. 2.7 Cash at bank and In hand Cash al bank and In hand includes cash and short-lerm highly liquid Investments with a short maturlly of three months or less from the dale of acquisilion or opening of the deposlt or similar account. 2.8 Llablllt5e8 and provlslon8 Liabilities are recognised when there is an obligation al the balance she61 dale as a result of a pa$1 event, il is probable that a transfer of economic benefit will be requlred in $etllgmenl, and the amount of the 5elllemenl can be eslimaled reliably. Liabilities are recognised at Ihg amount that the Charity anticipates It wlll pay10 Settle the debt or the amount il has recelved as advanced payments for the goods or servlces il musl provido. Provisions are measured at the best estimate of the amounts required to sellle the obligation. VVher& the effect of the time value of money is material. the provision is based on the present valuo of Ih08e amounts, discounted al the pre-tax discount rale Ihal reflects the risks speciflc to the liability. Th unwinding of the discount is recognised in the Slalemenl of Financial Activltles as a finance cost. Page 9
DIAMOND EDUCATION GRANT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {contlnued} 2.9 Financlal Instruments The Charity only has financial assets and financial liabS111ies of a kind that qualtfy as basic financial IAStrumenls. Baslc financial instruments are initially recognlsed al transaction value and subsequently measured al their selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.10 Fund accountlng General funds are unreslricled funds which are available for use al the di8crelion of the Trustees In furtherance of Ihe general objectives of the Charity and whlch have not been designated for other purpose8. Investment income. galns and losses are 211ocaled lo the approprlale fund. Incomg from donatlons and legacles Unrestrlcted fund8 2025 Total funds 2025 Total funds 2024 Donallons, levies and gift aid Legaclos 6,641 20.101 6,641 20,101 5,315 1,000 28,742 26,742 6,315 Inv88tmont Income Unreetrlcttd fund$ 2025 Total funds 2025 Total funds 2024 Incom8 from listed Investmen15 4,200 4,200 4,262 Analysls of èxponditurg on charltable actlvltles Summary by fund type Unre8trlcted tund¥ 2202 Total funds 2025 Total funds 2024 Grants 28,000 28,000 38,642 Page 10
DIAMOND EDUCATION GRANT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expendlture on governance and support costs Unrestrl¢t•d funds 2025 Total funds 2025 Total fvnds 2024 Independonl Examination fee Investment management fees General expenses 330 330 320 1.244 228 1,244 228 1,208 1,802 1,802 1,528 Indepènd¢nt Examln•r'8 rgmuneratSon The independent Examiner's remuneration amounts lo an Independent Examlner's f¢e of £330 (2024- £3201. Truste. remuneratlon and •xpèn$e$ During the year, no Tru8lees re1Ve any remuneration or other benefils12024 - £NILI. Durin9 the year, no Trustee expenses have been incurred12024 - £NILI. Flxed a886t Invostmont8 Llsted Investments Cost or valuatlon Al 1 Aprll 2024 Revaluatlons 125,327 12,4181 Market value at 31 March 2025 Markét valug at 31 March 2024 125 327 Hlstoric81 cost of the listed investments was £93,511 {2024.. £93,511). Thg investments are managed by Paradlgm Norton and the values 8re based on market values provided in their report 8t the year end. Dobtors 2025 2024 Due within ono year Other debtors 1335 1,443 2,335 1.443 Page11
DIAMOND EDUCATION GRANT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10, Credltors: Amounts falling due withln one year 2025 2024 Ac¢wals and deferred Income 11. Statement of funds Statement of fund8- current year Balanco at 1 April 2024 InGorna Expendlturè Galnsl Balancè at (Lo83es1 31 March 2025 Unrostrlctod funds Gener81 Funds 184502 30,942 129,8021 12,4181 163,224 Stst•m•nt of funds - prlor y•ar Balance at 1 April 2023 Income Exp8ndilure Galnsl (Losses) Balance al 31 March 2024 Unr8Strl¢ted fund8 General Funds 187,811 10,577 {40,1701 6,284 164,502 12. Analysls of net assets bètween fund8 Analysls of net 8¥¥gt¥ between fund8- eurront yoar Unrostrlct funds 2025 Total fund$ 2025 Fixed a5sel inveslments Current assets Creditors due wrthir) one year 122,909 41,260 1945) 122,909 41.260 {9451 Total 163,224 163.224 Page 12
DIAMOND EDUCATION GRANT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Analysls of net assets between funds {continued) Analysls of net a88ets b8tween funds - prior year Unreslricled funds 2025 Total funds 2024 Fixed asset investments Current assets Credttors du8 within one year 125,327 40,121 {9461 125,327 40,121 1946} Total 164.502 164,502 13. R•lated party tran8actlons The charity has a very close r8lationshlp with Soropliml8t International Great Brltain and Ireland ISIG811 Limlled. Soropllmi51 International Great Britain and Ireland ISIGBII Limlled Collects levies, payable by th9 membors, on behalf of the charity. During the year Ihe amtsunls collected and received from Soroplimisl International Gal Britain and Ireland ISIGBII Limited tol8lled £2,10912024.. £2,2381. No Irus168s recelved any remuneration or other benefits dlreclly or Inijlrectly from the charity. No other payments have been mado lo the trustees In the year. Page13