Diamond Sports Society Trustees, Report and Flnanclal Statements Year Ended 31 st July 2024 Diamond Sports Society (Registered Comp8ny Number 14208240 Ch81ity No 1199988
Diamond Sports Society Legal and Administrative Information Registered Charity Number: 1199988 Tiustees: Am8n Oberoi Nl¢holas Brooks Reglstered Office: 128 CItyRoad London EC1V2NX Diamond Sports Society (Registered Company Number 14208240 Charity No 1199988
Diamond Sports Society For the Year Ending 31" July 2024 Contents Page Charity- Examiners Report Tru8te8'8 Report Balance Sheet Statement of Flnanclal Actlvltles Schedule of Funds Notes Diamond Sports Soclety (Regered Company Number 14208240 Charity No 1199988
Independent Examiner's Report To The Trustees of Diamond Sports Society Forthe Year Ending 31° July 2024 Respecllve Responslbllltles of Ihe Trvstees and Ihe Examlnw. The Trustees are responsible for the preporation of the accounts. the InJstees consider that an Audit is not requwed ond Ihat an independent examinotion is reqvired.11 is my responsibility to: Examine the accounts under section 145 of the Charity Act 2011; lo follow procedures given by Ihe Charity Commission (under section 145 of Ihe 2011 oct; and state whether any parlicular matter5 come to my attention. Oplnlon I have audited the finonclal stolements of Diamond Sports Society for the yeor ended 31 JUW 2024 which inclvde the Stalemenl of Financial Aclivities, the Balance Sheet, and note5 lo the financiol stotements. including a summary of significant accounting policies. The financiol reporting fromework thot has been applied in their preporotion is applicable law and Uniled Kingdom Accounting Stondords. includin9 Financiol Reporting Standard 102 The Financial Reporting Stondard opplicable in the UK and Republic of Ireland (United Kingdom Generolly Accepled Accounling Practice). Independenl Examlners Slalement I hove completed my exominotion. I confirm that no material matters have come to my ottention in connection wilh the examination. The accounts ending 31 I Ju 2024: give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of it5 income ond expenditure for Ihe year. have been properfy prepored in o¢cordonce wth United ngdoM General Accepted Accounting Praclice.. ond hove been prepared in accordance wilh Ihe requKements of the Companies Act 2006 Signed . Brian Killman FCCA Dated 261h May 2025 Willowdene. Bameshall Avenue Worcester WR5 3EU Page I Di8mond Sports Society (Registered Company Number 14208240 Charity No 1199988
Diamond Sports Society Trustee's Report For the Year Ending 31° July 2024 Introductlon The Board of Trustees of Diamond Sports Society Limited is pleased to present the Trustees Annual Report lor the fiscal year ended 31 July 224. As a dedicated charity, we contracl out the managemenl of The108, an indoor sports facillly commilted lo advancing physical activity and communily engagement, with a particulor focus on baseboll and softball. Although we are yet to achieve full financial stabifity. we remaln optimistic as we explore innovative revenue-generallng palhways. Achlevements and Performance In Ihis inaugural partial year. Diomond Sporfs Society successfully hosted appr0MatelY l 0.000 visitors, offering a secure and enjoyable envlronmenl for sports enthusiasts of all ages and abililies. Our facility and progroms have been Tecognized for Iheir di51inctiveness and the excitement Ihot baseball and softball bring. These sports are instrumental in fostering leamwork. discipline, and a strong community spiril. Our facility has already gained recognilion among regular baseball and softball players ocr055 the UK, and we have made significant strides in outreach by offering complimentary sporls taster sessions to local schools. However, the challenge of mainlainlng flnancial stabilily persists. Finonclal Revlew Income: Our primary revenue streams are derived from facility rentals and are supplemented by sales from our in-house barlfoodlcoffee shop. While these streams are stoble. they currentty do nol cover all operalional costs. although we are wifnessing revenue growth. Expendltvre: The Ma]11Y of our expenses pert(in lo ulililie5. rent. and staff salaries. Net Deficltr. We e operatlng at a nel deficil. which necessltales exploration of additional funding slralegies. In Ihe inlerim, our landloid has graciousty ak)wed us lo defer rent. Future Plans To strengthen our financial wsition. we are actively pursuing several fijndraising avenues: Dlamond Sports So¢1etylRegieVed Company Number 14208240 Charity No 1199988
Donatlons: Setting up donafe options on The 108's booking web sile Corporate Events: Collaboraling with businesses lo utilize our unique space for large corporate gathetings. Communlty Events: OrganrLing evenls to raise awareness about our facility wlhin Ihe communily. Allernate Sports Events". Making oui baseball fr'eld available for other sporls such as ullimale frisbee, rounders, and kickball. Engagement wllh Food Dellvery Apps: Partnering wilh platforms like Uber Eals and Deliveroo lo moximi2e Ihe utilization of our kitchen facilities. Acllonable Slep3 Engage wlth Local Bu51nesses: Begln discussions to explore polenlia5 sponsorshlps. Plan Communlty and Corporate Events: Markel our facility and reach out 10 Schools and local communilies. Alteinate Sports Promollon: Develop targeted markellng materfals to attract new useis. Governance and Admlnlslratlve Detalls Our board of Irustees. now consists of Iwo dedicaled volunteers. Our third trustee, Danile Glpple. tragically passed away due to illness in Augusl 012023. The board is operating with two trustee5 but will find anolher soon. The board convenes frequenlly to ensure the lacilily adheres lo our mtssion and financial objectives. We express our gratitude the commitment and the unwavering support from our community. Conclusion We remaln sleadfasl in our mission to promole health and communily spiril through sports. With sustained effort and ongoing commvnity Support, we are w01ng hard to altain financiol 5tabiltty. Thank you for your conlinued support and belief in our vision. Signed....... h! ICOoGqS $12oqÉS 2¢. Page 3 Diamond Sports Soclety (Registered Company Number 14208240 Charity No 1199988
Diamond Sports Society Balance Sheet As at 31" July 2024 Note 31 July24 31 July 23 Flxed Ass¥., tanglble Hxed Assets Tanglble Fixed Assets Total FkKed Assets 611.377 272,566 611.377 272566 Cuffonl Assets: Debtors 65.210 2817 45.739 5.113 Cosh at bank and In haTh T01alCl Assets 68m7 50E52 UablllN•s: Credilors: 17nounls dug vAlhln on&ye( 1131,2191 6,821 Net Cuffent Assets/(UabMleJ) Tolal A¥s•ts i•M C(•rent UoblNlle$ Creditors: amoLnts fdlTrJ thJe all ontrye(r (63.192) 548.185 1696.152} 57,673 330.239 1328.cml Nel Ass•ts or (UabHHles) {147,967) 2.239 Funds of Ihe Chaffly: Unreslricled Fund5 1147.9671 (147.917) 2.239 2239 Total Approved bythe Trustee's on 28 April 2025 and signed on behalf It behalf Mr Maxwell TTautman Page 4 Dl8mond Sports Soclety (Registered Company Number 14208240 Charity No 1199988
Diamond Sts$ociefy Statement of FinanciaLActiuities Forthe Year Ending31"July 2024 Unreslrlcted Unreslrlcted Fund5 Funds 31 July 24 31 July 23 Incomlng R•$ovrces Charitable Acllvlli8s 189.664 5,158 Total Income 189.664 5.158 Expondtlvre on Chorftabl• Aclfvlll ChaiitatAe Aclfvll 335.378 2,918 Govemonce Costs 4,493 Total Expen(Ilure 339.871 2.918 N•1 Mov•m•nl In lunth (150.207) 2.240 Total Funds Brought Porwgrd Total Funds Caled Foald 2,240 (147.907) 2.240 Detalls of the Incoming Resources and Expenditure are (wen in the note8 of the Fln8nclalStatements. Poge 5 DiamoF%l Sports Society{Registered Company Number 14208240 Charlty No 1199988
Diamond Sports Society Statement of Financial Activities DetaiLed Analysis of Movement In Funds For the Year Ending 31° July 2024 31 July24 31 Jvly 23 G•nerol Fund Balonce BIFwd 2240 s)iv5 I ILos51 tor tho Ye 1150.2071 2,240 Total Funds as aF 31 July 2024 (147.967) 2.240 Page 6 Diannd Sports Soclety (I1$1ered Company Number 14208240 Charity No 1199988
Diamond Sports Society Notes to the Financial Statements For the Year Ending 3181 July 2024 1. Accountlng Pollcl8s The Accounls covw the I2-nnth pthd erKled 3111 March 2024: the prevlous y&ar comparollves refer lo the p8rlod 1st April 2022 - 31sl March 2023. The flnancial slalemen15 are prepared under Componies Act 2C(J6. and In accc¥dance wilh Ihe Finonclal ReplIng Standard l(Y2 IFRS 1021 ond follow Ihe recommendolions In 'Accovntlng and Repcyllng by Ch(¥ilies: Slalement ol Reconwfndod Procttce, ISORP 3)191. The prtCOI (Jccovnllw pcleS odopted In eptalbon ol the tinanciol slalements (Ye sel wt bek)w. Incom• RQUre I(nIng res0ceS ae dedl V•ith In cC*d(8 vllh the chority's financlol procedures. IEesourc•s Exp•nded Resources wended are de(11 wllh n CdanCe vAth Ihe chcrlty's Ilnanclol procedures. Tanglbl• Ilx•d As$0ts •JDd Depreclollon Derxeciation b provided rjt r(Jtes cdcLrfaled to vthte off Ihe cosl less re4dud vclue ot each ossel over its t3ypecled vselul Ilfe. a5 fol0v.. Buldhgs 10 Yecxs E(wipmenl 10 Year5 Corrpulers 3 Ye(¥s 2. Tvmov•r Tumover Conv of hcome trcmn Ihe mosl apprormiate ¢3cINIty wthin the charity. thts CoMpeS ol: rffe of facilfl8S: events and Calng. Poge 7 Diamond Sports Society (Registered Compaw Number 14208240 Charity No 1199988
Diamond Sports Society Notes to the Financial Statements For the Year Ending 31st July 2024 3. Tanglble Flxed Assets Bulldlngs Equlpment Computers COST Balance as of 1st August 2023 Additlons Balance as of 31st July 2024 441,477 44L477 170,253 170,253 16,298 16.298 DEPRECIATION Balance as of 1st Au8USt 2023 Char8e for the Year Balance as of 3tstJuly 2024 11,037 11,037 1,358 4,256 NET BOOK VALUE 8alance as of 1st Au8USt 2023 Balance as of 3tst July 2024 430,440 165.997 14,940 Page 8 Diamond Sports Society IRe&stered Company Numb8Y14)824o Chartty No 1199988
Diamond Sports Society Notes to the Financial Statements For the Year Endlng 318t July 2024 4. Debtors & Prepaymenls 2024 2023 Trade Debtors Rental Deposlt Prepayments HMRC Refund As of 31 July 2024 5,720 36,000 3,920 19.570 65,210 36.000 9,739 45,739 5. Credltors - Fallln8 Due wlthln l Year 2023 Trade Credltors Loan Accrua15 As of 31 July 2024 122,818 7.072 5,036 250 6,822 6. Credltors - Falllng Due after l Year 2024 2023 Loan Repayment As of 31 July 2024 696.152 696.152 328,000 328,000 7. Analysls of Chrltable Funds 2024 2023 Hlre of Facllltles Catering As of 31 July 2024 I85,8 3,709 189.617 5,158 5.158 Page 9 Dlamond Sports Society(Re&8tered Company Number 14208240 Charity No 1199988
Diamond Sports Society Notes to the Financial Statements For the Year Ending 31$1JuLy 2024 8. Charltable Actlvltles 2024 Z023 Café Wages Property Supplles & Services As of 31July 2024 54,825 61,472 166,081 36,349 2,918 2,918 9. Governan Costs 2024 2023 Prlntin& Posta8e and Statlonery Accountancy Advertlslng As of 31 July 2024 795 2,827 871 4,493 Page 10 Diamond Sports Soclety {RstEred Company Number 14208240 Charity No 1199988