Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B Company registration number.. 2669868 Charity number.. 1007726 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) MENZIES BRIGHTER THINKING Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) CONTENTS Page Reference and Admlnlstratlve Detalls of the Company. Its Trustees and Advlsers Trustees, Report Independent Examinerfs Report Statement of Financial A¢tivitigS 10 Balance Sheet statement of Cash Flows Notes to the Financial Statements 14-29 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Trusta•s Mr Geoff Adarn-spink Dr Philip Fri8nd OBE, Chair Mrs Carol Campb811 Ms Judith Gubbay Mrs Tra￿Y Proudlock Mr Brian Yates Dr Deborah Horowitz Mr Michael Nicholson Mr Michael Briggs Mrs Margaret Cheng Mr Raj Mehta Company ￿giStered number 2669868 Charity r8gi5tered number 1007726 Registered Offie• and Principal Office Unit 10 Blenheim Court 62 Brewery Road London N7 9NY Company secretary Razia Mohammed Chief executive offi¢er Gordon Mccullough Independent examiner Janice Matthews Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF Bankers Barclays Bank PLC Leicester LE87 2BB Website www.rid¢.org.uk Page 1 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 The Trustees present their annual report together with the financial statements for 1st October 2020 to 30th September 2021. Since the company qualifies as small under section 383, the strategic report required ol medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. Charity information The Rese8r¢h Institute for Disabled Qonsumers is both a Company registered in England under Registration No. 2669868 and 8 registered charity under Registration No. 1007726. The company 15 limited by guarantee not having a share capit81 and is gov8med by the Research Institut& for Disabled Consumers Memorandum and Articles of Association. About the Research Institute for Disabled Consurn8r5 The Research Institute lor Disabled Consumers IRIDCI is a leading expert in inclusive research involving disabled and older consumers. We are an independent, national charity with over 50 years of experience in commissioned consumer research and insights in this specialist area. We have developed a strong track record of providing unique insights and solutions to businesses, government and charities. We are run by, and for, people with personal experienTr of disability. Our vision is of a society that is a￿esSIble and inclusive for all, regardless of age or ability. Through our research, we wll transform how private, public, and voluntary sectors listen to, adapt and leam from the direct experiences and insights of disgblgd and older people. We airn to 8chieve this by.. Providing high quality research-inlormed by disabled and older people to improve goods and services delivered by public, voluntary and private sectors Using the knowledge gained from our research with disabled and older people to Influen￿ and drive forward policy and practice,. and, Increasing RiDC's strategic relevance within sectors to improve accessibility and inclusion. PUBLIC BENEFIT Under th8 Charities Act 2006. charities 8r8 required to dernonstrate th8t their aims 8r8 for the public benefit. The two key principles which must be rnet in this context are, firstly, that there must be an identifiable benefit or benefits,. and, secondly, that the benefit must be to the public or a section of the public. Charity tiustees must ensure that they carry out their ehaiity's aims for the public benefit, must have regard to the Charity Commission's guidance, and must report on public benefit in their annual report. RIDC'S Board of Trustees regulady monitors and reviews the success of the organisation in meeting its key objectives of helping businesses. charities and government understand the needs and experiences of disabled and older consumers., providing free, up lo date research insights to allow disabled and older people to choose the right products and setvices to lead an independent life., and. promoting inclusive research findings carried out with disabled and older consumers. The trustees confirrn, in the light of the guidance. that these aims fully meel the publi¢ benefit lesl and that all the activities of the charity. described in the Report of the Trustees. are undertaken in pursuit r)f these aims. REVIEW OF 2020121 The past year has been an exciting and inspiring year at RIDC. We etneiged from the various lockdowns a revitalis8d organisation clear in it5 purpose and even more determined to help businesses, government and charities to consider, listen to and act on the insights from disabled and older consumers. Like many, we have had to adapt to a changing world and adapt how we work and think to ensure we are around to deliver our vision. It has been challenging and required enormous effort from staff and trustees alike, but we have created a very positive momentum, and we are all excited about what the future may bring lor RIDC. Page 2 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Our strategy has been vital in our progress. Our commitment to producing quality indusive research, sharing that research as widely as possible and becoming a respected thought leader in research with older and disabled consumers is as strong as ever. We chose three areas that would believe we can have the biggest impact.. Moving forward.. The future ol inclLJsive transport and mobility Opening windows.. Exploring the interface between technology and the individual Actively ageing.. The intersection between age and di58bility Visit www.ridc.org.uk to read the outcom8s of our r85earch. COVID-19 In September 2020, we received funding from the London Covid Response Fund ladministered by City Bridge Trust) to explore the impact ol COVID-19 restrictions on disabled people in London. In DeTrmber 2020, we worked with 20 disabled people to record their experiences living in the UK'S capital city through its third lockdown. The study offered a unique insight into the often less visible experiences of disabled people in London at a time in Crisis. Participants with a wide range of disabilities Iblind and partially sighted, cognitive and physicall all who live in London were asked to keep a digitsl record of how life had changed for them as the city entered its third lockdown. Sorne recorded 8 video, some left audio rnessages, others shared their experience and had discussions on an online forum or p8rticip8ted in 8 focus group. These were collated into 8 series of short stories that provided 8 window into the daily exp8ri8nce of disabl8d Londoners Ihttps'.Ilw￿.rIdc.Org.ukIn8wsIp9$tQ￿[dS-￿fy-I9CkdOwnI. Some highlights It has been a busy year lor RIDC and working with our partners, we continued to produce impactful research. Listed below are some ol the highlights. Movlng fO￿ard.. The future of inclusive transport and mobility Independently mobile- this long-temi project is designed to collect a range of insights on what independent mobility means to Motability customers through online surveys, interviews. and workshops. These insights have been used to ¢reate an impact measurement framework that. for the first time. will allow Motability to describe the irnp8ct its scheme has for disabled drivers and their families. Over the project's two stages. we heard frorn alrnost 9,000 disabled and older drivers. Motability's first impact report W8s launched in Sgptgmber 2021. Going 8lectrie- iesearch, funded by Urban Foie5ight, looked at the difficulties disabled drivers face with EV eharging cables and the associated charging Infrastructure. The research was used lo Infom new designs and innovations around the charging cable and sockets. Accesslble traln travel- new regulations on accessibility al train stations were introduced on 1st April 2020. ORR commissioned RIDC to create a compliance baseline audit across 146 staffed and unstaffed stations. This work was paused due to the COVID-19 restrictions but restarted in September 2021. The final report will be published in early 2022. Working with First Group s Easl Coast Trains. RIDC conducted a review of their Accessible Transport Policy and will administer a series of surveys and mystery shopping audits on a new train service running between Kings Cross and Edinburgh lat8r in Sept8mber 2020. On the bu5es- a year-long mystery pass8nger proj8Ct carri8d out across $8ver81 Arriv8 London bus rout88. Panel m8mb8ts r8POrt on their experience5 of travelling and custorn8r service. Feedback Is given directly to the drivers and to Inform training. This work wa5 paused due to the COVID-19 restrictions but restarted in November 2020. Scootors on publlc transport- creating an online database ol mobility scooters to help consumers identify which can be used on public transport was commissioned by the Department for Transport. The database was completed in June 2021. Page 3 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Motability- we continue to provide our unique car search showing measurements, photos and accessibility features of over 1,700 vehicles. The resour￿ includes data on seat heights, headroom, door openings and boot sizes, and cars that can take an unfolded standard wheelchair. Opening windows.. Exploring the interface between technology and the individual Broadband- during COVID access to broadband and the most appropriate service has been irnportant for disabled and older consumers. Working with a rnajor telecoms provider. we have undertaken a benchmarking proces5 looking 8t accessibility and inclusion on customer-facing websites. Home entertainment . we hav8 also worked with int8inational t8chnology company to explor8 to LJnd815tand the positive experiences and barriers you tnay face today related to your horn@ broadbandMIFi, home entertainment, smart home and mobile services. This researeh aimed to understand experiences and product needs with the intention to facilitate innc)vation. Smartthome technology- we published our research, funded by the Energy Redress Scheme, into the accessibility of energy comparison websites. We prodU￿d a guide that outlines the key acTrssibility and other important website features to look out for. It also lists the 16 most popular sites identified by respondents and tells us on which of these you can expect to see these key features. Onrflemand services- we worked with a n8tion81 broadcaster to explore disabled people's experiences of on-demand plafforms and the quality of access services. The broadcaster will use the findings to develop and innovate their on-demand plattorm and create different methods of engaging disabled viewers. Actively ag8ing= The intersection between age and disability Dementia research - working in partnership with Innovations in Dementia IIDI and Ic>cal groups in the Dementia Engagement and Empowerment Projed network. This three-year project, funded by City Bridge Trust, aims to improve the experiences of people with dementia when using London arts, sports, health or well-being venues or services. This project will restart in November 2021. We have also been working with several retail partners looking at the accessibility of their packaging. Many elements of the co-design work have focused on dexterity and the manipulation of the products. Other projects Changing Places Toilets- Muscular Dystrophy UK commissioned RIDC to survey to explore experiences of Changing Places toilets and where future sites could be developed. The work was part of MHCLG'S £30 million funding projeet for Changing Plaees Toilets. Southeast Water- audit ol communications and engagement with 'vulnerable customers, during periods ol drought. Whlch7 Over the last 12 months there was a significant reduction in the work that RIDC and Which? have collaborated on. Nevertheless. there have been several projects. including.. Access to cash In March 2021, w8 worked with the Insights T88m to understand how disabled and old8r consumers us8 cash. Th8 short survey was design8d to und8r5tand th8 8Xt8nt to which disabled and old8r consumers dep8nd on cash compared to digital payments and any difficulties accessing and spending it. A total of 689 panel members responded to the survey. Results were used for Which?Is Freedotn to Pay campaign to understand the needs of different consumer groups. Page 4 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Best and worst banks for disabled consumers We worked with the Which? Money team to support them with a survey designed to test which high street banks are the best and worst for disabled consumers. The RIDC consumer panel was invited to participate in this Su￿ey, and over 600 people responded. RIDC has provided advi￿ and guidance on the accessibility of the survey and access to our panel. Our consumer panel None of the work described above would h8ve been possible without our ¢onsurner panel's oontinued wmmitment and enthusiasni. They are at the heart of everything we do. They rmake research possible. and their experiences 8nd opinions are key in shaping products and services. Ov&r the last year, the p8nel has grown by 50Y¢ to 2,503 disabl8d and older p8Dp18 right across th8 UK. We want to ke8p growing the panel so that W8,11 include an 8ven broader rang8 of views and experiences In our research for business8s, organisations and institutions on their inclusion joum8yS. Fundralslng Income is raised through commissioned research contracts and grants from a range of sources, including charitable foundations and commercial organisations. The fundraising effort has focused on widening our income sources to ensure continued support for the charity's programme of activities. The financial report shows that a greater proportion of our funding came in the form of commissions162.kl than in grants138°/ I during 2020121. THANKS TO OUR FUNDERS Without our funders, none of our work would be possible. In the fin8nci81 year ending 30 SepteTnber 2021 we received wre funding from the Consutners. Association Iwhioh?). We are very grateful to this organisation and others that h8vg provided grants". Energy Savings Trust Motability City Bridge Trust London Community Response Fund We want to extend particular thanks to Which? for their continued support of RIDC. It is a vitally important relationship and we are very proud to share a history land future) with Which? Page 5 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 FINANCE REVIEW Golng concern After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence lor the foreseeable future. For this reason. they continue to adopt the going Concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Financial risk management objectives and policies RIDC is primarily fund8d through project work, so our income fluctuat85 frorn y88r to year which can 18ad to a d8ficit at th8 end of a financial year. To help cushion against fluctuating income, w8 have built up reserves to h81p manage this risk. Our policy is to achieve a surplus over time to build up reserves in line with the policy outlined below. Comparing figures with the last financial year they show.. Income has increased by £95,200 to £510,693123Yo increasel. Expenditure has decreased by £27,252 to £486,04916°k decrease). Total funds at 30 September 2021 have increased to £572,11212020.' £448,491). Res8rve$ poli¢y RIDC'S policy is lo review its reserve levels annually to ensuie that they are sufficient to pr(>vide some protection against potential risks that could impact the organisation. Trustees have decided to designate certain ￿serveS to Meet some identifiable costs and some development expenditure not covered by funders or customers. Trustees have designated £183,750 to fulfil RiDC's share of the CA pension scheme deficit which may rise after the 2022 revaluation. A further £50,000 is designated to development costs. Our target current range of general and designated reserves combined is £450.000 to £600.000. Trustees anticipate that any incremental reserves will be used to fund the addition81 expansion of our charitable 3Ctivity. At the 30th Septernber there were total funds of £572,112 of which £25,878 was invested in fixed assets and £629 in restricted fLJnds, leaving £545,605 available to use. Investment policy Trustees delegate management ol investments to a Finance Commiltee which includes Trustees eXperIen￿d in asset management. The Investment Policy is reviewed every three years taking into account Charity Commission guidelines. The Trustees regard the perfomiance of the investment portfolio to be satisfactory. Risk assessment The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and financ8s of the charity, 8nd are sat15fied that systems are in place to mitigat8 8xposur8 to the major risks. Risks hav8 b88n id8ntified under th8 four headings sug985t8d by th8 Charity Commission.. Govemanc8 and Managetnent," Operational,. Financial,. and OperationallExternal Environment. Th8 tru5t88s require th8 Chief Executive and staff to actively tnanage these risks throughout the year. The PriTnary risks facing the charity are a failure to achieve financial stability in the medium term and failing to meet the necessary standards in our service delivery required by clients and lunders. Page 6 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 CONNECTED CHARITIES - CONSUMERS. ASSOCIATION RIDC was originally fomed by the Consumers, Association. The Consumers, Association currently gives RIDC an annual core grant of £75,000 as disclosed in note 3 to these financial slatements.12019120'. £150.0001. A trustee of RIDC is also a Council member of the Consumers, Association. The level ol funds RIDC received from the Consumers, Association represents a material proportion of RIDC'S income. OUR PLANS FOR 2021122 Our plans for 2021122 is to continue to grow our mnsurner panel to ensure th8 voice of disabled 8nd older people is at the forefront of making products and servic8s accessible. W8 will focus on b8ing18ad8rs in inclusiv8 r8s8arch focusing on technology, transport and ag8ing w811. W8 will continue to raise the profile and impact of our work and seek to Influence service and product designers to consider and act upon the needs of disabled and older people. Internally, we want to develop a more sustainable funding model that is not as dependent upon clients. We want to be able to set the agenda for inclusive research and not always be responding to the needs ol others. And finally, we want to dedicated, committed and talented team ol researchers who can fulfil a number of functions. Therefore we will invest in the team and ensure they are supported and encouraged to arnplify the hopes and expectations ol disabled and older people. STRUCTURE, GOVERNANCE AND MANAGEMENT The Tru$tee$ The Trustees, who are also the directors under cotllpany law, who served during the period and up to the date of this report were as follows". Mr Geoff Adams-spink Mr Michael Briggs Mrs Marga￿1 Cheng Dr Philip Friend OBE (Chairl Ms Judith Gubbay Mr Raj Mehta (VI￿ard. Struetur•, gov8rnane• and manag•mant The Trustees (who are also directors of Research Institute for Disabled Consumers for the purposes ol company lawl are responsible lor preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢￿pted Accounting Practice). Company law requires the Trustees to Prepa￿ financial staternents for each financial year. Under company law the Trustees must not approve the fin8nci81 statements unless they are satisfied that they give a true and fair view of the stste of affairs of the charitable company and of the incorming resources and application of resources, including the income and expenditure, of the oharitsble cornpany for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements., prepare the financial staternents on the going con¢ern basis unless It is inappropriate to presume that the charitable comp8ny will Th)nlinue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable Company's transactions and disclose with reasonable aecuracy at any time the financial position ol the Charitable company and enable them lo ensure thal the financial statements comply with the C()mpanies Act 2006. They are also responsible lor safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report. the Trustees have taken advantage of the small companies exemptions provided by section 415A ol the Companies Act 2006. Approved by order of the members of the board of Trustees and signed on their behalf by.. Docu8￿nId6y'. DO¢uS*n￿by'. 4foc4ff- riend OBE P5 nan Trustee ates Trustee D8te'. 28-Mar-2022 Page 8 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Indèpèndènt Examinèr's Rèport to thè Trustèès of Rès•areh Instituto for Disablèd Consumèrs IFom•rly Research Institute for Consumer Affairs) Iyhe Company'l I report to the charity Trustees on my exarllination of the accounts of the Cornpany for the year ended 30 September 2021. Responslbllltles and Basls of Report As the Trust8es of th8 Company land its directors for th8 purposes of cornpany lawl you ar8 responsibl& for the preparation of th8 accounts in accordanc8 With the r8quir8m8nts of th8 Compani8s Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of rny examination of the Company's accounts carried out under section 145 of the Charities Act 2011 1.the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Comrnission under section 14515llbl of the 2011 Act. Indapèndènt Examin&r's Stat•m&nt Sinc& the Company's gross inwme excegded £250.000 your exarniner rnust be a rngmber of 8 body list&d in sg¢tion 145 of the 2011 Act. I confirm that l arn qualified to undertake the exarmination because l am a member of The Institute of Charteied Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no rnatters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act," or the accounts do not accord with those records," or the 8wunts do not cornply with the accounting requirements of section 396 of the 2006 Act other than any requirement that thg acGounts givg 8 'true and fairf view whioh is not a matter considered 85 P8rt of 8n independent examination., or the accounts have not be8n pr8pared in accordance with th8 methods and principles of th8 Stat8m8nt of Recommended Pr8Ctic8 for accounting reporting by charit18s lapplicab18 to charities preparing th8ir accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across 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. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities IAccoLJnts and Reportsl Règulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required lo slate to them in an Independent Examinerfs Report and for no other purpose. To the fullest exient permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Companls Trustees as a body, lor my work or lor this report. DO¢uS￿nId ty.. Signed.. Dated.. 30-Mar-2022 634F24DE92A4471 Janic8 Matthews FCA Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF Page 9 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Unrestricted funds 2021 Restri￿ed funds 2021 Total fund5 2021 Total funds 2020 Note Income from: Donations and legacies Charitable activities 192,467 192.627 12.138 192,467 306,088 12,138 259,413 145,716 10,364 113.461 Investments Total Income 397,232 113,461 510,693 415,493 Expenditure on= Raising funds Charitable activities 19,578 352,550 19,578 466,471 21,170 492, 137 113,921 Total èxp•nditur• 372.128 113.921 486,049 513,307 Net incomellexpenditurel before net gainslllossesl on investments Net gainslllossesl on investments 25,104 9B,977 {4601 24,644 98,977 (97,808) (4,819) Net movement in funds before other recognised gains 124,081 14601 123,621 (102,627) Nat mov•mant In funds 124,081 14601 123,621 (102,627) Reconciliation of funds.. Total funds brought fOn￿ard Net movement in funds 447,402 124,081 1,089 14601 448,491 123,621 551, 118 (102,627) Total funds earrièd forward 571.483 629 572,112 448,497 The Statemenl of Financial Activities includes a11 gains and losses recognised in the year. The notes on pages 14 to 29 form part of these financial statements. Page 10 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) REGISTERED NUMBER: 2669868 BALANCE SHEET AS AT 30 SEPTEMBER 2021 2021 2020 Note Fixed assets Tangible assets Investments 25,878 487.593 30,379 376,305 12 513,471 406,684 Current assets Debtors 13 63,772 94,387 14,002 167,031 Cash at bank and in hand 158,159 181,C133 Creditors.. amounts falling due within one year 14 199,5181 (139,226) Net current assets 58.641 41,807 Total assets less eurr8nt liabilitiès 572.112 448,497 Total net a55ets 572,112 448,497 Charity funds Restricted funds Unrestricted funds 15 15 629 571,483 1,089 447,402 Total funds 572,112 448,491 Page11 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2021 The Company was entitled to exemption from audit under section 477 of the Cornpanies Act 2006. The members have not required the company to obtsin an audit for the year in question in accord8nce with section 476 of Companies Ad 200fj. The Tru5t8es acknowl8dg8 th8ir responsibilit18s for complying with the r8quir8tnent5 of th8 Act wth r8SP8Ct to accounting r8cords and pieparation of financial statements. The financial statements have been prepared In aecordanee with the provisions applieable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by-. DOcu¥￿n¢d￿. Docu8*n•dtsy'. rien rian Trustee Trustee Date.. 28-Mar-2022 The notes on pages 14 to 29 form part of these financial statements. Page 12 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2021 2021 2Q20 Cash flows from operat5ng actlvltles Net cash used in operating activities 71,641} 28,200 Cash flows from investing activities Dividends, interests and rents from investments Purchas8 of tangible fix8d assets Proceeds froTn sale of inv8stments 12,138 18311 48.353 160,663} 10,364 80, 120 (35,317) Purchase of investments Net cash lused inllprovided by investing activities 11,003} 55,167 Cash flows from finaneing aetivitiès Net rash providgd by financing adivitie$ Change in cash and Cash equivalents in the year Cash and cash equivalents at the beginning of the year 172,644} 167,031 83,367 83,664 Cash and eash •quival•nts at th• ènd of thè yèar 94.387 167,037 The notes on pages 14 to 29 form part of these financial statements Page 13 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Gènèral infomiation Research Institute For Disabled Consumers is a private charitable company limited by guarantee, incorporated and registered in England and Wales and has company registration number 2669868. The registered office and principal address is Unit 10, Blenheim Court, 62 Brewery Road, London, N7 9NY. Details ol the operations and principal activities of the charity are set out in the Trustees. Annual Report set out on pages 2 onwards. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Reeommended Practiee applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006. Research Inslilule for Disabled Consumers meets the definition ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The reporting currency is GB Pounds Sterling (£1. 2.2 Going concem After making appropriate enquiries. the trustees have a reasonable expectation that the wmpany has adequate resources to continue in operational existence for the foresee2ble future. For this reason they continue to adopt th8 going concern basis in preparing the financial statements. 2.3 Income Al incom8 is recognis8d once the Cornpany has 8ntitlement to the income, it 15 probable that the income will b8 received and the amount of income receivable Can be measLJred reliably. External projects income represents research income earmarked lor projeets. Income is ￿tOgniSed to match expenditure in the period, where projecis are estimated lo generate a surplus, such surplus is recognised on completion of the project. Where projects are estimated a loss, the loss is recognised as soon as it is anticipated. Gifts are included in full in the period in which they are received. Grants are included in the period in which they are receivable, unless they relate lo a specific future period in which case they are deferred. Government grants received as a result of the Coronavirus Job Retention scheme are recognised as income when the charity is entiued to the money. Page 14 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Aeeounting polieiès leontinuèdl 2.4 Expènditurè Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer ol economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs ol each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs including attributable salaries are allocated on an actual basis to the relevant areas of programme activity. Overheads and other salaries are allocated between expenses headings on the basis of time spent. Costs of generating funds are ¢osts incurred in attracting voluntsry income, and those InCu￿ed in trading 8¢tivities that raise funds. Charitable activities are costs incurred on the company's operations, including support cost5 and costs relating to the govemance of the cornpany apportioned to charitable activities. l expenditure is inclusive of irrecoverable VAT. 2.5 Gov•mm*nt grants Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of ihe assets concerned. Other grants are credited to ihe Statement ol Financial Activities as ihe related expenditure is incurred. 2.6 Interest receivable Interest on funds held on deposit is included when receivable and the arnount can be measured reliably by the Cornpany,. this is norrnally upon notifi'cation of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and depreciation Tangible fixed assets Costing £NIL or more are capitalised and recognised when future econornic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed a5set5 are initially recognised at cost. Aft8r recognition, under the cost rnodel, tangible fixed a55et5 are measured at cost less accurnulated depreciation and any accurnulated impairrnent losse5. All costs incurred to bling a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depieciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases.. Long-term leasehold property Office equipment 10 years 3 years Page 15 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Aeeounting polieiès leontinuèdl 2.8 Invèstmènts Investments are accounted lor at market value at year end. Gains and losses investments a￿ taken to the Statement of Financial Activities. 2.9 LlabSlltles and provlslons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result ol 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 will pay to settle the debt or the arnount it has received a5 advanced payments for the goods or service5 It must provide. 2.10 Financial instruments The Company only has financial assets and financi81 liabilities of 8 kind that qualify as basic financial instruments. Basic financial instrutnents ar8 initially recognised at transaction value and subsequenuy rnea5ured at their settlement value with the eX￿p(lOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Op•rating lèasès Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. 2.12 Penslons The Company is an associated employer of a pension scheme, administered by the Consumers. Association. The Scheme comprises two sections - a hybrid section that combines the features ol defined benefit and defined contribution schemes and provides benefits based on the higher of a final salary pension and a money purchase pension, and a defined contribution only section. It is funded by contribulions from both employer and employees. The assets of the Scheme are held separately from those of the Consumers, Association and are invested on behalf of Scheme members by the Scherne trustees. The section that is structurgd 85 a defined benefit sch8rn8 is a tnulti-employer plan. As it is not possible for the Cornpany to obtain sufficient information to enab18 It to account for the defined benefit element of the plan as a defined benefit plan, it accounts for the plan a5 a defined contribution plan a5 pertnitted by FRS102. The pension charge represents the amounts payable by the Company to the fund in respect ol the year. The money purchase section of the scheme constitutes a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect ol the year. Full details of the scheme are set out in Note 18. Page 16 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Aeeounting polieiès leontinuèdl 2.13 Fund aeeounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees lor particular purposes. The aim and use ol each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordan￿ 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 airn and use of each restricted fund is set out in the notes to the financial statements. Page 17 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Income from donatlons and legacles Unrestrlcted funds 2021 Total funds 2021 Total funds 2Q20 Grants 185.421 7,046 185,421 7,046 195, 192 64,227 Govemrnent grants 192,467 192.467 259,413 Total 2020 259,473 259,413 Grants includes a donation of £75,000 from Which? Govemrnent grants cornprise monies received under the Govemrnent Coronavirus Job Retention Scheme. Income from charitable activities Unrestricted funds 2021 Restricted fund5 2021 Total funds 2021 Total funds 2020 Ext8mal projects 192,627 113,461 306.088 745,716 Total 2020 88. 130 57,586 145, 716 Page 18 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Investment Income Unrestrlcted funds 2021 Total funds 2021 Total funds 2Q20 Income from listed investments 12,016 122 12,016 122 10,317 47 Interest received on bank deposits 12,138 12,138 10,364 Total 2020 10.364 10.364 Analysls of expendlture on charltable actlvltles Summary by fund type Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Total funds 2Q20 Consumer reports Consultancy or commissioned research Development and representation 92,916 178,315 81,319 92,916 292,236 81.319 99,958 298,467 93,706 113,921 Total 2021 352.550 113,921 466,471 492, 137 Total 2020 435.634 56,497 492, 131 Page 19 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Analysls of expendlture by actlvltles Actlvltles undertaken directly 2021 Support costs 2021 Total funds 2021 Total funds 2Q20 Consumer reports Consultancy or commissioned research Development and representation 63.954 201,323 60,106 28,962 90,913 21,213 92,916 292,236 81.319 99,958 298,467 93,706 325.383 141,088 466,471 492, 137 Total 2020 358.937 133,200 492, 131 Independent examinerf$ remuneration 2021 2Q20 Fees payable to the Charity's Independent Examiner for the Independent Examination F8es payable for oth8r accountancy s8rvic85 1,800 16.100 1,T50 16,070 17,900 17,820 Staff eosts 2021 2020 Wages and salaries Social security costs Contribution to defined contribution pension schemes 240,994 21,128 28,247 299,539 50,375 26,552 290.369 356,466 Page 20 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Staff eosts leontinu￿) The average number of persons employed by the Company during the year was as follows." 2021 2Q20 Researchers Management Fundraisinglincome generation Marketing Administrator No 8mploy8e r8ceiv8d r8mun8ration amounting to mor8 than £60,000 in 81th8r y88r. Staff costs indude terrnination payments of £Nil12020- £23,445). 10. Tru5tees' remuneration and expenses During the year, no Trustees received 8ny remuner8tion or other benefits {2020- £NIL). During the y88r ended 30 S8Pt8mb8r 2021, 8xpen5es totalling £NIL w8r8 reirnbur58d or paid dir8Ctly to any Trust88 (2020- £793 to 4 Trust88sJ. 11. Tangible fixed as5et5 Long-term leasehold property OFFice equipment Totsl Cost At 1 October 2020 39,036 46.393 831 85,429 831 Additions At 30 September 2021 39,036 47.224 86,260 Depreciation Al 1 October 2020 Charge lor the year 9,254 3,904 45,796 1,428 55,050 5,332 At 30 September 2021 13.158 47.224 60,382 Page 21 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 11. Tangiblè fixèd assèts leontinuèdl Long-temi leasehold property Office equlpment Total Net book value At 30 S8Pt8Tnber 2021 25,878 25,87B At 3Q September 2Q20 29,782 597 30,379 12. Fixed asset investments Llsied Investments Cost or valuation At 1 October 2020 376,306 60,663 148,3531 98,977 Additions Disposals Revaluations At 30 September 2021 487,593 13. Dèbtors 2021 2020 Due wlthln one year Trade debtors 49,500 5.250 9.022 Other debtors 5,250 8,752 Prepayments and acciued incotne 63,772 14,002 Page 22 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 14. Craditors.. Amounts falling dua within ona yèar 2021 2020 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 2,024 27,180 3,338 66.976 2,602 30,359 3,463 102,802 99.518 739,226 Dafarrad Incom• 2021 2020 Deferred income at 1 October 2020 Resources deferred during the year Arnounts released from previous years 98,702 62,026 98.7021 56,250 98,702 {56,250) Deferred income at 30 September 2021 62,026 98,702 Page 23 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 15. Statèmènt of funds Statèmènt of funds - eurrènt ￿ar Balance at 30 September 2021 Balance at 1 October 2020 Galnsl ILossesl Income Expendlture Unrestricted funds Designated funds Development fund Pension fund deficit 50.000 183.750 50,000 183,750 233,750 233,750 General funds Ggneral Funds 213.652 397,232 1372,1281 98,977 337,733 Total Unrestricted funds 447.402 397,232 1372,1281 98.977 571,483 Restricted funds City of London ICBTI Energy Savings Trust Consutnei Association 34,000 52,119 500 134,0001 {52,5791 15001 18,0001 {18,8421 1,089 629 Department for Transport City of London ILCRFI 8,000 18,842 1,089 113,461 1113,9211 629 Totsl of funds 448.491 510,693 1486.0491 98.977 572,112 Restrlcted funds City of London ICBTI- represents funds used for the purpose ol Dementia Research. Energy Savings Trust- represenis funds used on Smart home technology ac￿ssibIlItY testing. Consurner AssOCl8tion represents funds used in relation to Bank branch closure research. Department for Transport- tnobility scoot8r project. City of London ILCRFF the impact of COVID on disabled people in London Page 24 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 15. Statèmènt of funds (Continu￿) Statèmènt of funds - prior y•ar Balance at l October 2019 Balance at Gainsl 30 September (Losses) 2Q20 Income Expenditure Unrestricted funds Designated funds Development fund Pension fund deficit 5(J,000 183, 750 50,000 183,750 233, 750 233,75Q General funds Ggneral Funds 311,368 357,907 (456,804) (4,8191 213,652 Total Unrestricted funds 551, 7 18 357,907 (456,804) (4,8191 447,402 Restricted funds City of London ICBTI Energy Savings Trust Consumer Association 34,000 22,586 1,000 (34,000) (27,497) (7,000) 1,089 57.586 (56,497) 1,089 Total of funds 557, 7 18 415.493 (513,301) (4,819) 448,497 Page 25 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 16. Summary of funds Summary of funds - eurrènt y•ar Balance at 30 September 2021 Balance at 1 October 2020 Galnsl ILossesl Income Expendlture Designated funds General funds 233.750 213.652 1,089 233,750 337,733 629 397,232 113,461 1372,1281 1113,9211 98,977 Restricted funds 448.491 510,693 1486.0491 98,977 572,112 Summary of funds - prlor year Balance at I OGtober 2019 BalanGe al Gainsl 30 September (Losses) 2Q20 InGome Expenditur Designated funds General funds 235, 750 317,368 233,750 213,652 1,089 357,907 57,586 (456,804) (56,497) (4,819) R8Stricted funds 557, 7 18 415.493 (513,301) (4,819) 448,497 17. Analysis of net assets be￿een funds Analysis of nèt assèts bètw••n funds- eurrènt yèar Unrèstrietèd funds 2021 Rèstrictèd funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments 25,878 487,593 157,530 199,5181 25,878 487,593 158,159 199,5181 Current assets 629 Cr8ditors du8 Within on8 y8ar Total 571,483 629 572,112 Page 26 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 17. Analysis of nèt assèts ￿twO*n funds leontinu•dl Analysis of nèt assèts b•twè•n funds- prior yèar UnrestricteLI funds 2020 Reslricled funds 202Q Total fvnds 2Q20 Tangible fixed assets Fixed asset investments Current assets 30,379 376,305 IT9,944 (139,226) 30,379 376,305 181,033 (739,226) 1,089 Creditors due within one year Total 447,4Q2 I,Q59 448,497 18. Re¢on¢iliation of net movement in funds to net ca$h flow from operating a¢tivities 2021 2Q20 Net incomelexpenditure for the year las per Statement of Financial Activities) 123,621 (102,627) Adjustm8nts for= Depreciation charges Gainslllossesl on investments Dividends, interests and rents from investments Decreasellincreasel in debtors Inereaselldecreasel in ereditors 5.332 198,977} 112,138} 149,771) 39.7081 9,338 4,819 (10,364) 94,680 32,354 Net cash provided byllused inl operating activiti85 71.6411 28,200 19. Analysls of cash and cash equlvalents 2021 2020 Cash In hand 94.387 167,031 Total cash and cash equivalents 94,387 167,037 Page 27 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 20. Analysis of changas in nat dèbt At30 Sèpt•mb8r 2021 At 1 Oetob8r 2020 Cash flows Cash 8t bank and in h8nd 167,031 172,6441 94,387 167,031 172,644} 94,387 21. Pension commitments The company is an associated employer of a pension scheme. adrninistered by the Consumers, Association. The Scheme comprises two sections 8 hybrid section that cornbines the fe8lures of defined benefit and defined contribution sch8mes and provid85 bgn&fits b3S8d on the higher of a final salary pension and a mon8y purch8se p8n5ion, and a defined contribution only section. It is funded by contributions from both 8mployer and ernploye8s. The assets ol the Schetne are held separately from those of the Consumers, Association and are invested on behalf of Scheme members by the Scheme ttustees. RIDC is part of a multi-employer scheme and will be unable to identify the proportion of any surplusl deficit that relates directly to its employees. As a result, RIDC does not intend to reflect any surplusl deficit within the balance sheet as permitted under FRS 102. Consumers. Association hybrid scheme combines the features of defined benefit (final salary) and defined contribution schemes. As at 30 June 2017. the hybrid scheme. valued under FRS 102, had a £9.9m liability1£6.5m liability at 30 June 20161. The most recent triennial valualic)n of the scheme in March 2015 indicated a deficit of £14.7m. Additional contributions to the scheme were m8de in the ye8r in line with the re¢overy plan agreed with the trustees. Details of the most recent triennial v81uation ar8 not yet 8V8ilable. Page 28 Docusign En¥ÈlopÈ ID". 966100AF-E54C4504-8C10-CE7E5737EB4B RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 22. Opèrating l•as• eommitm•nts At 30 September 2021 the Company had commitments to make future minimum lease payments under non- cantsllable operating leases as follows". 2021 2020 Within 1 year Between 1 and 5 years 11.842 21,000 11,842 Totsl 11,842 32,842 The following lease payments have been recognised as an expense in the Statement of Financial Activities- 2021 2Q20 Operating lease rentals Changes in lease payments aiising from COVID-19 related rent concessions 21,000 21,000 23. Related party transactlons During the year a grant of £75,000 (2019.. £75,000) was received from The Consumers. Association, a charity, as described in the Trustees. Report. The Consumers. Association head Offi￿ is at 2 Marylebone Road, London, NW14DF. Taxation Research Institute for Disabled Consumers is a registered charity and therefore is not liable to inwme tax or corporation tsx on income or gains derived from its charitable activities. as they fall within the various exemptions available to rggistered ¢haritig5. Page 29