Registered number: 02526240 Charity numbar: 1002463 THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limlted by Guarantee) CONTENTS Page Reference and Admlnlstratlve Dotalls of the Company. Its Trustees and Advlser8 Trustees. Report Trustees. Responslbllitles Statement Independent Examlnefs Report Statemént of Flnancial Actlvltles Balance Sheet 10-11 Notes to th• Flnanclal Ststements 12-23
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees AlJaye T S Kaplan A J Harding K J Lipton A C Marks Company reglstered number 02525240 Charlty rnglstered number 1002463 Roglstered office 101 New Cavendish Street 1 st Floor South London W1W6XH Accountants Harris & Trotter LLP 101 New Cavendish Street 1 st Floor South London United Kingdom W1W6XH Bankers Bank of Scotland St. James's Gate 14-16 Cockspur Street London United Kingdom SW1Y 5BL Page 1
THE SPEECH, LANGUAGE AND HEARING FOUNDATION IA Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and financial statements for the year ended 31 December 2023. 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 company's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective from 1 January 2019). Objectlves and actlvltles The Speech, Language and Hearing Centre Foundation is charitable company limited by guarantee. The charity's prlncipal objectives ar•, for the public benefit, to.. • Promote the education, and to felleve the needs, of children who suffer from dlfficulties with hearing, speech, language or communication or who have complex needs (vthether in the UK or elsewhere)., and Promote research in all topics related to children who suffer from difficulties wth hearing, speech, language or communication or who have complex needs provided the useful results of such research must be published., by the provision of grants. In additlon, the quorum provisions for meetings of the Trustees were simplified and the provSslon for obligatory rotats'on of the directors MOVed. Achlevements and performance We seek to maintain the fundraising capacity of the Foundation and adapt its offering to best meet the challenges it experiences. BPAS and The Bridg8 Clinic operate as a fertility clinic from 1-5 Christopher Place. We intend to continue as before in distributing the rental income that vrfe receive and to continue our charitable activities as a grant-making trust. Publlc beneflt statement Trustees of a charity have statutory duty to report in their Annual Report on their charltys public benefiL The Trustees have considered this requirement. We will maintain the Foundation's commitment to enhancing the knowledge and und8rstanding of heading impaired, aut15tic and communication delayed young children in our soclety, without providing direct inteNention to needy children and their families. The Trustees have therefore concluded.. • that the aims of the organization continue to be charitable; that the work done will give identifiable benefits to the charitsble sector and both indirectly and directly to individuals in need., • Ihat the benefits are for the publlc, ar8 not unreasonably restricted in any way and certainly not by ability to pay., and that there is no detriment or harm arising from the charity's aims or activities. Flnanclal review Financial reviews have been conducted for year ended 31 December 2023. It is the policy of the charitable company that free reserves which have not been designated for a specific use should be maintained at a level equivalent to not less than one year's budget grant expenditure i.e. £150,000. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company's current activities for at least a year, while consideration is given to ways in which additional funds may be raised. At the year end, the free reserves were £912,330 (December 2022 '. £882,190). Investment Policy There are no restrictions on the Foundation's powers to invest and the Trustees have power to invest monie5 not Page 2
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 immediately required for the Foundation's charitable purpos8S. The Trustees have considered tha most appropriate policy for investing fijnds and have decided to place a major part of their funds Wlth a fund manager, with a small part held on short term deposit. Rlsk factors The Trustees have a$$$s$ed the major risks to whlch the charitabl¢ Company is exposed and are satisfied that systems are in place to mitigate exp08ure to the major risks. Structure. governance and management The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: A. l. Jaye A J Harding T. S. Kaplan A. C. Marks K. J. Lipton None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribut8 £1 in the event of a winding up. The Trustees are responsible for the financial planning and policies central to the Charity. The Chairman of the Board is Andrew Jaye. The Trustees meet regularly to discuss propos8d grants, the management accounts and other matters presented to them, The Trustees have not incurred any expenses on behalf of the Charity during the year, and no reimbursement has therefore been made to them, The Trustees are considered to be the senior management team and are not remunerated for their services. Employee involvoment Applications for employment by dlsabled person5 are afways fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charitable company continues and that the appropriate training is arranged. It is the policy of the charitable company that the training. career development and promotion of disabled persons should, as far as possible, be identical to that of other employees, Chalmian's Comments: Following the challenges of covid, we were able to maintain our income and as such there have been no financial losses. We have been able to make the folloviing donations during the year.. Gateways Programme Roger Lewis Memorial Homestart Greenwich The Sherwood School The Shernood School Year 4 £30,800 £30,000 £19,000 £18.000 £18,000 Fi St Mary Magdalene School Belt Issie De La Bat School Nuwehoop School 21 Plus- SLT SPACE £12,000 £10,000 £6,500 £6,200 £6,132 £5,640 Page 3
rRUSTEES' REPORT ICONTINUEDI IDR THE YEAR ENI)ED 31 OECEMBER 20fd AAB Ther•piesknChthl W• ho to conllnuo wilh fvth•t ¢Softm. hav• in hand a mber ol appiAUtsnB arn cuffenity congl¢lering I would llke to thBnk rJur 4dmthkn•tor. Fdth•n lor Iw hard and oifoTL •fA# My Gtrat¢* for11 nuvd $upk¥)rt .<fi. Zol
THE SPEECH, LANGUAGEAND HEARING FOUNDATION (A Company Limited by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounkn'ng Standards {Unit8d Kingdom Generally Accepted Accounting Practice). Company law requir88 the Trustees to prepare financial statements for each financlal Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to- select suitsble accountlng pollcies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102).. make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the Company will continue in business. The Trustees are responsible ft)r keeping adequate accounting records that are sufficient to show and explain the Company's transactsons and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 5
THE SPEECH. LANGUAGE AND HEARING FOUNDATION {A Company Llmlted by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examlner's Report to the Trustees of Tho Speech, Language and Hearfng Foundatlon (Ihe Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responslbllitles and Basls of Report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of th8 2008 Act and are eligible for independent examination, I report in respect of my examination of the Companvs accounts carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed th¢ Directions given by the Charity Commlssion under section 145(5){b) of the 2011 Act. Page 6
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examlner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause to believe.. accounting records wero not kept in respa¢t of the Company as requlred by section 386 of the 2006 Act. or tha accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view vthich 18 not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and prlnciples of the Statement ¢f Recommendgd Practice for accounting and reporting by charities lapplicable to charities preparing thelr accounts in accordance yth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concems and have come acros8 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 7
THE SPEECH. LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantse) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 This report is made solely to the Companls Trustees. as a body, in accordance Vth Part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters l am required to state to them in an Independent Examine¢s Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibilty to anyone other than the Company and the Company's Trustees as a body. for my work or for this report. Signed: S Connoley FCCA clo Harrfs & Trotter LLP 101 New Cavendish Street 1 st Floor South London United Kingdom W1W6XH Dated: 141,,12f . Page 8
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted funds Total funds Total funds Peiiod ended 31 Decembor 31 December 31 December 2023 2023 2022 Note Income from: Voluntary incom8 Investment income Other income 1,147 181,486 4,104 1,147 181,486 4,104 1,259 76,635 3,714 Total Incom• 186,737 186.737 81,608 Expendlture on: Charitable activities 177,600 177,500 106,747 Totsl expendlturo 177,600 177.600 106,747 Net movement In funds beforn other recognlsed galnslllosses) 9,237 9,237 (25, 139) Other racognlsed galnsl{Iossa8): Gainsl(losses) on revaluatlon of fixed assets 20,903 20,903 (44,299) Net movement In fund8 30,140 30,140 (69,438) Reconclllatlon of funds: Total funds brought forward Net movement in funds 3,157,466 30,140 3,157,466 30,140 3,226, 904 (69,438) Total funds carrled forward 3,187.606 3,187,606 3, 157,466 All income and expenditure derive from continuing activities. The statement of financial activties also complies with the requirements for an income and expenditure account under the Companies Act 2006. The Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 12 to 23 form part of these financial statements. Page 9
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limlted by Guarantee) REGISTERED NUMBER: 02525240 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Flxed assets Investments Investment property 13 792,988 2,275,276 772,086 2, 275,276 12 3,068,264 3, 047,362 Current assets Debtors Cash at bank and In hand 14 45,804 292,080 41,714 183,064 337.884 224, 778 Creditors.. amounts falling due within one year 15 1218.642) (114,674) Net currant ass8ts 119,342 110,104 Total assets less current Ilabllltles 3.187,606 3, 157,466 Not assets excludlng penslon asset 3,187.606 3, 157,466 Total net assets 3,187,606 3, 157,466 Charlty funds Restricted funds Unrestricted funds 16 16 3,187,606 3. 157,466 Total funds 3,187.606 3, 157,466 Page 10
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THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity inforniatlon The Speech, Language And Hearing Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 101 New Cavendish Street, 1st Floor Soulh, London, W1W 6XH Accountlng pollclas 2.1 Basls of preparation of financial statements The financial staternents have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Speech, Language and Hearing Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Foundation has taken advantage of the provisions in the SORP for charities appling FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amouns in these financial statements are rounded to the nearesr £. The accounts hav8 be8n pr8pared on the historic cost convention. The principal accounting policies adopted ara set out below. 2.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expa¢tation that the Foundation has adequate resources to continue in operational existence for the forseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial ststements. 2.3 Incoming r&8ources All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 12
THE SPEECH. LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcies (continued) 2.4 R88ourcas exp8nd8d Expenditure is recognised once there is a legal or constructive obligatlon to transfer economie benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activrty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time 8Pgnt, and depreciation charges allocated on the portion of the asset's use. Expendilure on charitable activities is incurred on directly undertaklng the activitie8 which further the Companls objectives, as V11 as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusiv8 of irrecoverable VAT. Govemance costs include those incurred in the governance of the charity's asset5 and are primarily associated with constitutional and statutory requirements. 2.5 Investments Flxed asset investments a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it'is measured at cost less impairment. Investmenl galns and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments. in the Statement of Financial Activities. Page 13
THE SPEECH. LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnued) 2.6 Inv8slment prop8rtles Investm8rrt property. which is propety held to ear rentsls andlor for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting year end date. The surplus or deficit on revaluation is recognised in net incomel(expenditure) for the year. Recoverable amount is the higher of fair value less cost to sell and value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount if an asset Is ests'mated to be less than it's carying amount, the carrying amount of the asset is reduced to it5 recoverable amount. An impaimient loss is recognised in Incomel (expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impainnent loss is treated as a revaluation decrease. Recognised impaimènt losses are reversed If, and only if, the reasons for the impaimient loss have ceased to apply. Where an impairment loss subsequently reverse5, the carrying amount of the asset is increased to the revised amount of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment 1088 been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2,8 Cash at Bank and In Hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the dep081t or similar account. 2.9 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it wtll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision 15 based on the present value of those amounts, discounted at the pre-tax discount rate that refleds the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 14
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontinued) 2.10 Flnanclal Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequenY measured at amortised cost using the effective interest method. 2.11 Fund accountlng General funds are unrestricted funds which are available for us8 at the discretlon of the Trustees In furtherance of the general objectives of the Company and which have not been d8signated for other purposes. Deslgnated funds comprlse unrestricted funds that have been Set aside by the Trustees for partlcular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Crltlcal accountlng estlmates and areas of judgment Estimates and judgments are contlnually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilikn'es within the next financial year are discussed below. Valuatlon of Investment property Determining the fair value of the Charivs property as at each balance sheet date involves an element of estimation due to the nature of the property- For further information a5 to how the fair value is determined see note 12. Page 15
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Voluntary Income Unrestricted funds Total funds Total funds P9ri0d ended 31 Decembar 2022 31 D8cembor 2023 31 December 2023 Donations and gifts 1.147 1,147 1,259 Total 2022 1,259 1,259 Investment Income Unrestrlcted funds Totsl funds Total lunds Period ended 31 December 2022 31 December 2023 31 December 2023 Rental Income Interest receivable 180,103 1,383 180,103 1,383 73. 154 3,481 Total 2023 181.486 181.486 76, 635 Total 2022 76,635 76, 635 Page 16
THE SPEECH, LANGUAGE AND HEARING FOUNDATION IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Other Incomlng resources Unrestrlcted funds Totsl nds Total lunds Period ended 31 December 2022 31 December 2023 31 December 2023 Insurance 4,104 4,104 3, 714 Total 2022 3, 714 3,714 Analysls of grants Grants to Institutlons Total funds Total funds Pe170d endad 31 December 2022 31 December 2023 31 December 2023 Grant funding of activities 167,272 167,272 95,203 Tot812022 95,203 95,203 Page 17
THE SPEECH, LANGUAGE AND HEARING FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture on charltable activltles Summary by fund type Unrestrlcted funds Total Total Period ended 31 December 2022 31 Decembar 2023 31 December 2023 Grant funding of activities Share of support ¢¢st$ Independent examination fee P08tage and carriage Sundry exp8n3•8 Subscriptions Insurance Premises costs 187,272 1.149 2,000 167,272 1,149 2.IXIO 95,203 4,135 378 219 197 3,715 900 206 573 4,104 1,800 573 4,104 1,800 177,500 177,500 106.747 Total 2022 106, 747 106,747 Page 18
THE SPEECH, LANGUAGE AND HEARING FOUNDATION IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Actlvities undertaken directly Grant funding of actlvltles Support costs Total funds Total funds Pariod ended 31 December 2022 31 December 2023 31 December 2023 31 December 2023 31 December 2023 Grant funding of activities Share of support costs Independent examination fee Postsge and carriage Sundry expansas Subscriptions Insurance Premises costs 167,272 167.272 1,149 2,1)00 396 206 673 4.104 1,800 95,203 4, 135 1.149 2,000 396 205 573 4,104 1,800 3T8 219 197 3,715 900 7,078 167,272 3,149 177,500 106,747 Total 2022 5,409 95,203 6,135 106, 747 10. Independent examiner's remuneratlon The independent examiners remuneration amounts to an independent examiner fee of £2,000 (2022 - £2.000). 11. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2022- £NIL). During the year ended 31 December 2023. no Trustee expenses have been incurred (2022- £NIL). Page 19
THE SPEECH. LANGUAGE AND HEARING FOUNDATION (A Company Llmlted by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Investment property Freehold Investment property Valuatlon At 1 January 2023 2,275,276 At 31 December 2023 2.275.276 The falr value of the investment property has been arrived at on the basls of a valuation carrled out at 18 October 2017 by A.l.Jaye, 8 trustee of the charity. A.1. Jaye is a fellow of the Royal Instiute of Chartered Supleyors and a member of the Insts'tute of Revenues Ratings and Valuation. The valuation was made on an open market value basis by reference to th8 current annual rentals, the tem of the lease and the current market conditions. The trustees consider the fair value of the inveslment property to be materially the same as at 31 January 2023 and 31 December 2023. If investment propertie5 were stated on an historical cost basis rather than a fair value basi8, the carrying amount would have been £2,275,276 (£1,517,962 - 31 December 2022) and no depreciation would have been charged. 13. Flxed asset Invastm•nts Llstod Investments Cost or valuation At 1 January 2023 Revaluations 772,085 20,903 At 31 December 2023 792,988 Net book value At 31 December 2023 792,988 At 31 December2022 772,085 Page 20
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Debtors 2023 2022 Due wtthln one year Trade debtors Prepayments and accrued income 45,354 450 41.714 46,804 41,714 16. Credltors: Amounts falllng due wlthln one year 2023 2022 Trade creditors Other credrtors Accruals and def8rred income 24,600 162,000 42,042 76,000 38, 674 218,642 114,674 Page 21
THE SPEECH, LANGUAGE AND HEARING FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Statement of funds Statement of funds - current year Balance at 31 Galnsl December (Losses) 2023 Balance at 1 January 2023 Income Expendlture Unrestrlctsd fund8 De8lgnated funds Designated Funds - all funds 2,276,276 2.275,276 General funds Reserves 882,190 186.737 1177,6001 20,903 912,330 Total Unre8trlctad funds 3.157.466 186,737 (177,600) 20,903 3.187,606 17. Summary of funds Summary of funds- current year Balance at 31 Gaingl December (Losses) 2023 Balance at 1 January 2023 Income Expendlture Designated funds General funds 2.275,276 882,190 2,276,276 912,330 186,737 (177,500 20,903 3,157,466 186,737 {177,500) 20,903 3,187.606 Page 22
THE SPEECH, LANGUAGEAND HEARING FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestrlcted funds 2023 Total funds 2023 Fixed asset investments Investment property Current assets Creditors due wlthln one year 792,988 792,988 2,275,276 2.275,276 337,883 337,883 (218,542) 1218,6421 Total 3,187,605 3,187,606 Analysls of net assets between funds - prfor year Unrestrlcted funds 2022 Total funds 2022 Fixed asset Investments Investment property Current assets Creditors due within one year 772,086 2,275,276 224, 778 (114,674) 772,086 2.275,276 224. 778 (114.674) Total 3, 157,466 3, 157,466 Pag8 23