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← Research Institute for Disabled Consumers

2025-04-01-accounts

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

Company registration number: 02669868 Charity number: 1007726

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED

31 MARCH 2025

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 6
INDEPENDENT EXAMINERS' REPORT 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 24

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025

Trustees Dr Philip Friend OBE, chair (resigned 20 June 2024)
Ms Nomqhele Mbambo (resigned 1 February 2025)
Mr Gregory Smith
Ms Sandra Witzel, chair (appointed 20 June 2024)
Ms Adele Aitchison
Mrs Carol Campbell
Mr Michael Nicholson
Ms Karen Fraser (appointed 18 March 2024)
Mr Raj Mehta
Mr Michael Briggs
Mrs Tracey Proudlock
Ms Judith Gubbay(resigned 29 February 2024)
Ms Abigail Pearson (appointed 25 July 2025)
Ms Sandra Buchan (appointed 25 July 2025)
Mr Shaun Morris-Armitage (appointed 25 July 2025)
Company registered
number
02669868
Charity registered number
1007726
Registered office
Impact Hub Euston
1 Triton Square
London
NW1 3DX
Company secretary
Razia Mohammed
Chief executive officer
Gordon McCullough
Accountants
Menzies LLP
Chartered Accountants
Magna House
18-32 London Road
Staines-Upon-Thames
TW18 4BP
Bankers
Co-operative Bank
PO101, 1 Balloon Street
Manchester
M60 4EP
Independent Examiner
Janice Matthews
Menzies LLP
Magna House
18-32 London Road
Staines-Upon-Thames
Surrey
TW18 4BP

Page 1

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements for 1st October 2023 to 31 March 2025.

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

CHARITY INFORMATION

The Research Institute for Disabled Consumers is both a company registered in England under Registration No. 2669868 and a registered charity under Registration No. 1007726. The company is limited by guarantee not having a share capital and is governed by its Memorandum and Articles of Association dated 10th Decemeber 1991 as ammended on 13th July 2004 and 27th February 2019.

ABOUT THE RESEARCH INSTITUTE FOR DISABLED CONSUMERS

The Research Institute for Disabled Consumers (RiDC) is a leading expert in inclusive research involving disabled and older consumers. We are an independent, national charity with 60 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 experience of disability.

Our vision is of a society that is accessible and inclusive for all, regardless of age or ability.

Through our research, we will transform how private, public, and voluntary sectors listen to, adapt and learn from the direct experiences and insights of disabled and older people. We aim to achieve this by:

Public Benefit

Under the Charities Act 2006, charities are required to demonstrate that their aims are for the public benefit. The two key principles which must be met 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 trustees must ensure that they carry out their charity’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 regularly 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 to date research insights to allow disabled and older people to choose the right products and services to lead an independent life; and, promoting inclusive research findings carried out with disabled and older consumers.

The trustees confirm, in the light of the guidance, that these aims fully meet the public benefit test and that all the activities of the charity, described in the Report of the Trustees, are undertaken in pursuit of these aims.

REVIEW OF 2023/25

The period from October 2023 to March 2025 has been marked by significant achievements and ongoing challenges for RiDC. We continued to build on our reputation as the UK's leading inclusive research organisation, delivering projects that placed the lived experiences of disabled and older consumers at the heart of decision-making.

Our work with the National Centre for Accessible Transport (ncat) has expanded, with RiDC playing a key role in the development of the CAT panel—now 2,800 members strong. This work continues to influence transport providers and policymakers, ensuring accessibility remains at the core of transport innovation.

Page 2

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Key research outputs from ncat during this period include landmark reports on street design, barriers to transport, and public attitudes towards disability in transport contexts.

RiDC also led significant projects across other sectors. These included research on digital assistive technology for the Royal Society, research into the impact of the cost of living and the inaccessibility of private sector goods and services for the Disability Unit in the Cabinet Office. We were commissioned by the Motability Foundation to carry out ground-breaking work on accessible shared micromobility, and we have continued our collaboration with Network Rail through our mystery shopping programme. We have expanded our reach into consumer sectors with projects on parcel delivery accessibility and adaptive clothing, evidencing tangible improvements for disabled consumers.

Our partnership with Which? has remained central, providing evidence on the lived experiences of disabled and older consumers across a number if investigations (such as retailers, delivery companies and banking).

Despite positive outcomes, the external environment remains challenging. Funding opportunities have become more competitive, and wider societal and political shifts around equality and diversity have impacted the availability of work. Nevertheless, RiDC has maintained financial resilience and continued to grow its panel, now over 4,000 members.

Fundraising

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 commissions (57%) than in grants (43%) during 2023/25 (year to 30 September 2023, 42% and 58% respectively).

Thanks to our funders

Without our funders, none of our work would be possible. In the financial period ending 31st March 2025 we received core funding from the Consumers’ Association (Which?). We are very grateful to this organisation and others that have provided grants:

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 (and future) with Which?

FINANCE REVIEW

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for 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 funded through project work, so our income fluctuates from year to year which can lead to a deficit at the end of a financial year. To help cushion against fluctuating income, we have built up reserves to help 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 rose to £1,483,452 for the eighteen month period compared with £800,517 for the previous year (equivalent to a 23.5% increase).

Page 3

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

• Expenditure has increased to £1,561,290 for the eighteen month compared with £798,667 for the previous year (equivalent to a 30.3% increase).

Total funds on 31st March 2025 were £445,425 compared to £493,941 on 30 September 2023.

Reserves policy

RiDC’s policy is to review its reserve levels annually to ensure that they are sufficient to provide some protection against potential risks that could impact the organisation.

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 additional expansion of our charitable activity.

Investment policy

Trustees delegate management of reserves to a Finance Committee which includes trustees experienced in asset management. The Committee reports quarterly to the Trustees.

Risk assessment

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks. Risks have been identified under the four headings suggested by the Charity Commission:

Governance and Management; Operational; Financial; and Operational/External Environment. The trustees require the Chief Executive and staff to actively manage these risks throughout the year. The primary risks facing the charity are a failure to achieve financial stability in the medium term and failure to meet the necessary standards in our service delivery required by clients and funders.

.

CONNECTED CHARITIES - CONSUMERS' ASSOCIATION

RiDC was originally formed by the Consumers’ Association. The Consumers’ Association currently gives RiDC an annual core grant of £75,000 as disclosed in note 2 to these financial statements (£112,500 received for the eighteen month period). (2022/23: £75,000). The level of funds RIDC received from the Consumers’ Association represents a material proportion of RiDC's income.

OUR PLANS FOR 2025/2 6

RiDC has begun implementation of its new strategy, 'Embedding Accessibility: Driving Change Through Lived Experience'. This strategy is designed to ensure RiDC remains focused, bold, and impactful in driving system change through highquality research.

Our future work will be guided by three core objectives:

Key areas of focus include transport, consumer goods, and digital accessibility, alongside emerging challenges in sustainability, health and wellbeing, and inclusive innovation. We will continue to grow our expertise in behavioural research, data science, and design thinking while deepening our engagement with our panel.

Risks such as funding pressures, societal attitudes, and maintaining panel diversity are recognised, with mitigation strategies aligned to our strategic framework. Our ambition remains clear: to create a future where decisions, products, and services work for everyone because they are shaped by those who face barriers daily.

Page 4

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees

The Trustees, who are also the directors under company law, who served during the period and up to the date of this report were as follows:

Mr Michael Briggs Dr Philip Friend OBE (Chair) (resigned 20 June 2024) Ms Judith Gubbay (resigned 29 February 2024) Mr Raj Mehta (Vice-chair) Mrs Tracy Proudlock Ms Carol Campbell Ms Karen Fraser (appointed 18 March 2024) Mr Michael Nicholson Ms Nomqhele Mbambo (resigned 1 February 2025) Ms Sandra Witzel (Chair) (appointed 20 June 2024) Mr Gregory Smith Ms Adele Aitchison

Up to a maximum of twelve Trustees are elected by the members of RiDC.

Each of the Trustees retires by rotation and may stand for re-election. Additionally, the Trustees may elect to stand until the end of the next Annual General Meeting. A Trustee so elected then vacates office if not re-elected at that meeting. The Trustees of RiDC are the only members of the company, remaining as members, only so long as they remain on the Board of Trustees.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees on 30th September 2023 was 11 (2021 – 12).

The Trustees have no beneficial interest in the charitable company.

During the year four formal Trustee meetings took place and an annual general meeting was held in February 2022. Policies for the training and induction of Trustees are in line with published guidance from the Charity Commission..

Trustees' responsibilties statement

The Trustees (who are also directors of Research Institute for Disabled Consumers 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Page 5

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

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 accuracy at any time the financial position of the charitable 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 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 of the Companies Act 2006. [ SanSigneF7879633E0B3475... d by:ra Witmel

Approved by order of the members of the board of Trustees and signed on their behalf by: F7879633E0B3475...

................................................

Ms Sandra Witzel

Date: 11-Nov-2025

Page 6

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

INDEPENDENT EXAMINERS' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

Independent examiner's report to the Trustees of Research Institute for Disabled Consumers ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

Responsibilities and basis of report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for thepreparation 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 the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried outunder section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directionsgiven by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute ofChartered Accountants in England and Wales, which is one of the listed bodies.

i have completed my examination. I confirm that no matters have come to my attention in connection with the examinationgiving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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 which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention shouldbe 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 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters Iam required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permittedby law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as abody, for my work or for this report.

Signed: Dated: |[Janice] DocuSigned[Mattlws] by: 11-Nov-2025 Janice Mathews FCA 634F24DE92A4471...

Menzies LLP

Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP

Page 7

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net (expenditure)/income before net
gains/(losses) on investments
Net gains/(losses) on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
eighteen
month period
ended 31
March 2025
£
120,206
831,133
17,762
969,101
65,882
1,495,408
1,561,290
(592,189)
29,322
(562,867)
493,941
(562,867)
(68,926)		 Restricted
funds
eighteen
month period
ended 31
March 2025
£
514,351
-
-
514,351
-
-
-
514,351
-
514,351
-
514,351
514,351		 Total
funds
eighteen
month period
ended 31
March
20252025
£
634,557
831,133
17,762
1,483,452
65,882
1,495,408
1,561,290
(77,838)
29,322
(48,516)
493,941
(48,516)
445,425		 Total
funds
year ended
2023
£
455,558
333,387
11,572
800,517
32,673
765,994
798,667
1,850
(8,930)
(7,080)
501,021
(7,080)
493,941

The Statement of financial activities includes all gains and losses recognised in the period.

The notes on pages 11 to 24 form part of these financial statements.

Page 8

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) REGISTERED NUMBER: 02669868

BALANCE SHEET AS AT 31 MARCH 2025

31 March 30 September
2025 2023
Note £ £
Fixed assets
Investments 11 266,625 334,666
266,625 334,666
Current assets
Debtors 12 79,960 172,784
Cash at bank and in hand 163,792 139,386
243,752 312,170
Current liabilities
Creditors: amounts falling due within one year 13 (64,952) (152,895)
Net current assets 178,800 159,275
Total assets less current liabilities 445,425 493,941
Total net assets 445,425 493,941
Charity funds
Restricted funds 14 - -
Unrestricted funds 14 445,425 493,941
Total funds 445,425 493,941

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable 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: ................................................ [ Ms Sandra Witzel SanSigneF7879633E0B3475... d by:ra Witeel Date: 11-Nov-2025

The notes on pages 11 to 24 form part of these financial statements.

Page 9

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash (used by) / generated from operating activities
17
Cash flows from investing activities
Dividends, interests and rents from investments
Investment movement
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
18		 2025
£
(54,190)
17,662
97,363
115,025
-
60,835
102,957
163,792		 2023
£
(102,168)
11,572
(10,629)
943
-
(101,225)
204,182
102,957

The notes on pages 11 to 24 form part of these financial statements

Page 10

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. General information

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 Ridc Impact Hub King's Cross, 34B New York Way, London, N19AB. Details of the operations and principal activities of the charity are set out in the Trustees' Annual Report set out on pages 2 onwards.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 accordance 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.

Research Institute for Disabled Consumers 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.

2.2 Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

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.

External projects income represents research income earmarked for projects. Income is recognised to match expenditure in the period, where projects are estimated to 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 to 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 entitled to the money.

Page 11

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Expenditure

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 of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified 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 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 costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

Investments are accounted for at market value at year end. Gains and losses investments are taken to the Statement of Financial Activities.

2.7 Liabilities and provisions

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 will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.8 Financial 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 subsequently measured at amortised cost using the effective interest method.

2.9 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

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Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.10 Pensions

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 of 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 contributions 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 Scheme trustees.

The section that is structured as a defined benefit scheme is a multi-employer plan. As it is not possible for the Company to obtain sufficient information to enable it to account for the defined benefit element of the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan as permitted by FRS102. The pension charge represents the amounts payable by the Company to the fund in respect of 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 of the year.

Full details of the scheme are set out in Note 21.

2.11 Fund accounting

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 for particular 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.

3. Income from donations and legacies

Grants
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
120,206
75,000		 Restricted
funds
18 month
period ended
31 March
2025
£
514,351
380,558		 Total
funds
18 month
period ended
31 March
2025
£
634,557
455,558		 Total
funds
year ended 30
September
2023
(restated)
£
455,558

Page 13

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

3. Income from donations and legacies (continued)

Unrestricted grants includes donations of £112,500 from The Consumers' Association.

Restricted grants include £49,920 from Energy Savings Trust and £464,431 from Coventry University towards the National Centre for Accessible Transport.

£148,484 towards this project received and included within Income from charitable activities in the year to 30 September 2023 has been recategorised as grant income in these accounts.

4. Income from charitable activities

External projects
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
831,133
333,387		 Total
funds
18 month
period ended
31 March
2025
£
831,133
333,387		 Total
funds
year ended 30
September
2023
(restated)
£
333,387

5. Investment income

Income from listed investments
Interest received on bank deposits
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
17,107
655
17,762
11,572		 Total
funds
18 month
period ended
31 March
2025
£
17,107
655
17,762
11,572		 Total
funds
year ended 30
September
2023
£
10,681
891
11,572

Total 2023

Page 14

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Consultancy or commissioned research
Development and representation
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
514,618		 Restricted
funds
18 month
period ended
31 March
2025
£
-
-
-
251,376		 Total
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
765,994		 Total
funds year
ended 30
September
2023
£
631,848
134,146
765,994

7. Analysis of expenditure by activities

Consultancy or commissioned research
Development and representation
Total 2023		 Activities
undertaken
directly
18 month
period ended
31 March
2025
£
962,763
224,382
1,187,145
588,667		 Support
costs
18 month
period ended
31 March
2025
£
261,393
46,870
308,263
177,327		 Total
funds
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
765,994		 Total
funds
year ended 30
September
2023
£
631,848
134,146
765,994

Page 15

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

8. Independent examiner's remuneration

18 month
period ended Year ended
31 March 30 September
2025 2023
£ £
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts 5,500 5,025

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 18 month
period ended
31 March
2025
£
919,323
99,467
61,277
1,080,067		 Year ended
30 September
2023
£
437,560
46,407
33,726
517,693

The average number of persons employed by the Company during the period was as follows:

Researchers
Management
Administrator
Development		 18 month
period ended
31 March
2025
No.
11
2
1
-
14		 30 September
2023
No.
8
1
1
1
11

The number of employees whose annual employee benefits (excluding employer pension costs) exceeded £60,000 was:

18 month
period ended Year ended
31 March 30 September
2025 2023
No. No.
In the band £60,001 - £70,000 1 1
In the band £80,001 - £90,000 1 -

Page 16

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

10. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the period ended 31 March 2025, expenses totalling £ 631 were reimbursed or paid directly to 5 Trustees (2023 - £1,181 to 4 Trustees) in respect of travel expenses.

11. Fixed asset investments

Cost or valuation
At 1 October 2023
Additions
Disposals
Revaluations
At 31 March 2025
Net book value
At 31 March 2025
At 30 September 2023
Debtors
Due within one year
Trade debtors
Prepayments and accrued income		 31 March
2025
£
49,024
30,936
79,960		 Listed
investments
£
334,667
17,353
(114,716)
29,321
266,625
266,625
334,667
30 September
2023
£
164,262
8,522
172,784

12. Debtors

Page 17

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

13. Creditors: Amounts falling due within one year

Bank overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 31 March
2025
£
-
9,599
27,076
1,289
26,988
64,952		 30 September
2023
£
36,429
6,627
46,557
2,432
60,850
152,895

Page 18

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

14. Statement of funds

Statement of funds - current period

Unrestricted
funds
Designated
funds
Development
Fund
Pension fund
deficit
General funds
General Funds
Total
Unrestricted
funds
Restricted funds
Energy Savings
Trust
NCAT (Coventry
University)
Total of funds		 Balance at 1
October 2023
£
30,000
183,750
213,750
280,191
493,941
-
-
-
493,941		 Income
£
-
-
-
969,101
969,101
49,920
464,431
514,351
1,483,452		 Expenditure
£
-
-
-
(1,046,939)
(1,046,939)
(49,920)
(464,431)
(514,351)
(1,561,290)		 Transfers
in/out
£
(9,000)
-
(9,000)
9,000
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
29,322
29,322
-
-
-
29,322		 Balance at 31
March 2025
£
21,000
183,750
204,750
240,675
445,425
-
-
-
445,425

Designated funds

Monies have been set aside for future development.

Monies have been set aside to cover the deficit on the Pensions Scheme. Subsequent to the year end the Trustees have been informed that there is no longer a deficit on the Scheme. The balance on this fund will therefore be released on General Funds in the year to 31 March 2026.

Restricted funds

Energy Savings Trust - represents funds used on Smart home technology accessibility testing.

NCAT (Coventry University) - research fund for National Centre for Accessible Transport.

Page 19

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

14. Statement of funds (continued)

Statement of funds - prior period

Unrestricted funds
Designated funds
Development Fund
Pension fund deficit
General funds
General Funds
Total Unrestricted funds
Restricted funds
Energy Savings Trust
PRFC (Bristol University)
City of London (CBT)
NCAT (Coventry University)
Total of funds		 Balance at
1 October
2022
£
30,000
183,750
213,750
267,969
481,719
14,364
2,858
2,080
-
19,302
501,021		 Income
£
-
-
-
568,443
568,443
68,470
15,120
-
148,484
232,074
800,517		 Expenditure
£
-
-
-
(547,291)
(547,291)
(82,834)
(17,978)
(2,080)
(148,484)
(251,376)
(798,667)		 Gains/
(Losses)
£
-
-
-
(8,930)
(8,930)
-
-
-
-
-
(8,930)		 Balance at
30 September
2023
£
30,000
183,750
213,750
280,191
493,941
-
-
-
-
-
493,941

Page 20

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

15. Summary of funds

Summary of funds - current period

Designated funds
General funds
Restricted funds		 Balance at 1
October 2023
£
213,750
280,191
-
493,941
- prior period		 Income
£
-
969,101
514,351
1,483,452
Balance at
1 October
2022
£
213,750
267,969
19,302
501,021		 Expenditure
£
-
(1,046,939)
(514,351)
(1,561,290)
Income
£
-
568,443
232,074
800,517		 Transfers
in/out
£
(9,000)
9,000
-
-
Expenditure
£
-
(547,291)
(251,376)
(798,667)		 Gains/
(Losses)
£
-
29,322
-
29,322
Gains/
(Losses)
£
-
(8,930)
-
(8,930)		 Balance at 31
March 2025
£
204,750
240,675
-
445,425
Balance at
30 September
2023
£
213,750
280,191
-
Summary of funds
Designated funds
General funds
Restricted funds
493,941

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
31 March
2025
£
266,625
243,752
(64,952)
445,425		 Total
funds
31 March
2025
£
266,625
243,752
(64,952)
445,425

Page 21

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
30 September
2023
£
334,666
312,170
(152,895)
493,941		 Total
funds
30 September
2023
£
334,666
312,170
(152,895)
493,941

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities)
Adjustments for:
(Gains)/Losses on investments
Dividends, interests and rents from investments
Decrease/(increase) in debtors
(Decrease) / Increase in creditors
Net cash used in operating activities		 31 March
2025
£
(48,516)
(29,322)
(17,662)
92,824
(51,514)
(54,190)		 30 September
2023
£
(7,080)
8,930
(11,572)
(90,476)
(1,970)
(102,168)

18. Analysis of cash and cash equivalents

Cash in hand
Overdraft facility repayable on demand
Total cash and cash equivalents		 31 March
2025
£
163,792
-
163,792		 30 September
2023
£
139,386
(36,429)
102,957

Page 22

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

19. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand		 At 1 October
2023
£
139,386
(36,429)
102,957		 Cash flows
£
24,406
36,429
60,835		 At 31 March
2025
£
163,792
-
163,792

20. Pension commitments

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 of defined benefit and definedScheme comprises two sections - a hybrid section that combines the features of 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 contributions 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 Scheme trustees.

RIDC is part of a multi-employer scheme and will be unable to identify the proportion of any surplus/ deficit that relates directly to its employees. As a result, RIDC does not intend to reflect any surplus/ deficit within the balance sheet as permitted under FRS 102.

Page 23

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

21. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

22. Related party transactions

During the period grants of £112,500 (2023: £75,000) were received from The Consumers' Association, a charity, as described in the Trustees' Report.

The Consumers' Association head office is at 2 Marylebone Road, London, NW1 4DF.

23. Taxation

Research Institute for Disabled Consumers is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

Page 24

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

Company registration number: 02669868 Charity number: 1007726

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED

31 MARCH 2025

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 6
INDEPENDENT EXAMINERS' REPORT 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 24

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025

Trustees Dr Philip Friend OBE, chair (resigned 20 June 2024)
Ms Nomqhele Mbambo (resigned 1 February 2025)
Mr Gregory Smith
Ms Sandra Witzel, chair (appointed 20 June 2024)
Ms Adele Aitchison
Mrs Carol Campbell
Mr Michael Nicholson
Ms Karen Fraser (appointed 18 March 2024)
Mr Raj Mehta
Mr Michael Briggs
Mrs Tracey Proudlock
Ms Judith Gubbay(resigned 29 February 2024)
Ms Abigail Pearson (appointed 25 July 2025)
Ms Sandra Buchan (appointed 25 July 2025)
Mr Shaun Morris-Armitage (appointed 25 July 2025)
Company registered
number
02669868
Charity registered number
1007726
Registered office
Impact Hub Euston
1 Triton Square
London
NW1 3DX
Company secretary
Razia Mohammed
Chief executive officer
Gordon McCullough
Accountants
Menzies LLP
Chartered Accountants
Magna House
18-32 London Road
Staines-Upon-Thames
TW18 4BP
Bankers
Co-operative Bank
PO101, 1 Balloon Street
Manchester
M60 4EP
Independent Examiner
Janice Matthews
Menzies LLP
Magna House
18-32 London Road
Staines-Upon-Thames
Surrey
TW18 4BP

Page 1

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements for 1st October 2023 to 31 March 2025.

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

CHARITY INFORMATION

The Research Institute for Disabled Consumers is both a company registered in England under Registration No. 2669868 and a registered charity under Registration No. 1007726. The company is limited by guarantee not having a share capital and is governed by its Memorandum and Articles of Association dated 10th Decemeber 1991 as ammended on 13th July 2004 and 27th February 2019.

ABOUT THE RESEARCH INSTITUTE FOR DISABLED CONSUMERS

The Research Institute for Disabled Consumers (RiDC) is a leading expert in inclusive research involving disabled and older consumers. We are an independent, national charity with 60 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 experience of disability.

Our vision is of a society that is accessible and inclusive for all, regardless of age or ability.

Through our research, we will transform how private, public, and voluntary sectors listen to, adapt and learn from the direct experiences and insights of disabled and older people. We aim to achieve this by:

Public Benefit

Under the Charities Act 2006, charities are required to demonstrate that their aims are for the public benefit. The two key principles which must be met 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 trustees must ensure that they carry out their charity’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 regularly 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 to date research insights to allow disabled and older people to choose the right products and services to lead an independent life; and, promoting inclusive research findings carried out with disabled and older consumers.

The trustees confirm, in the light of the guidance, that these aims fully meet the public benefit test and that all the activities of the charity, described in the Report of the Trustees, are undertaken in pursuit of these aims.

REVIEW OF 2023/25

The period from October 2023 to March 2025 has been marked by significant achievements and ongoing challenges for RiDC. We continued to build on our reputation as the UK's leading inclusive research organisation, delivering projects that placed the lived experiences of disabled and older consumers at the heart of decision-making.

Our work with the National Centre for Accessible Transport (ncat) has expanded, with RiDC playing a key role in the development of the CAT panel—now 2,800 members strong. This work continues to influence transport providers and policymakers, ensuring accessibility remains at the core of transport innovation.

Page 2

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Key research outputs from ncat during this period include landmark reports on street design, barriers to transport, and public attitudes towards disability in transport contexts.

RiDC also led significant projects across other sectors. These included research on digital assistive technology for the Royal Society, research into the impact of the cost of living and the inaccessibility of private sector goods and services for the Disability Unit in the Cabinet Office. We were commissioned by the Motability Foundation to carry out ground-breaking work on accessible shared micromobility, and we have continued our collaboration with Network Rail through our mystery shopping programme. We have expanded our reach into consumer sectors with projects on parcel delivery accessibility and adaptive clothing, evidencing tangible improvements for disabled consumers.

Our partnership with Which? has remained central, providing evidence on the lived experiences of disabled and older consumers across a number if investigations (such as retailers, delivery companies and banking).

Despite positive outcomes, the external environment remains challenging. Funding opportunities have become more competitive, and wider societal and political shifts around equality and diversity have impacted the availability of work. Nevertheless, RiDC has maintained financial resilience and continued to grow its panel, now over 4,000 members.

Fundraising

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 commissions (57%) than in grants (43%) during 2023/25 (year to 30 September 2023, 42% and 58% respectively).

Thanks to our funders

Without our funders, none of our work would be possible. In the financial period ending 31st March 2025 we received core funding from the Consumers’ Association (Which?). We are very grateful to this organisation and others that have provided grants:

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 (and future) with Which?

FINANCE REVIEW

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for 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 funded through project work, so our income fluctuates from year to year which can lead to a deficit at the end of a financial year. To help cushion against fluctuating income, we have built up reserves to help 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 rose to £1,483,452 for the eighteen month period compared with £800,517 for the previous year (equivalent to a 23.5% increase).

Page 3

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

• Expenditure has increased to £1,561,290 for the eighteen month compared with £798,667 for the previous year (equivalent to a 30.3% increase).

Total funds on 31st March 2025 were £445,425 compared to £493,941 on 30 September 2023.

Reserves policy

RiDC’s policy is to review its reserve levels annually to ensure that they are sufficient to provide some protection against potential risks that could impact the organisation.

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 additional expansion of our charitable activity.

Investment policy

Trustees delegate management of reserves to a Finance Committee which includes trustees experienced in asset management. The Committee reports quarterly to the Trustees.

Risk assessment

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks. Risks have been identified under the four headings suggested by the Charity Commission:

Governance and Management; Operational; Financial; and Operational/External Environment. The trustees require the Chief Executive and staff to actively manage these risks throughout the year. The primary risks facing the charity are a failure to achieve financial stability in the medium term and failure to meet the necessary standards in our service delivery required by clients and funders.

.

CONNECTED CHARITIES - CONSUMERS' ASSOCIATION

RiDC was originally formed by the Consumers’ Association. The Consumers’ Association currently gives RiDC an annual core grant of £75,000 as disclosed in note 2 to these financial statements (£112,500 received for the eighteen month period). (2022/23: £75,000). The level of funds RIDC received from the Consumers’ Association represents a material proportion of RiDC's income.

OUR PLANS FOR 2025/2 6

RiDC has begun implementation of its new strategy, 'Embedding Accessibility: Driving Change Through Lived Experience'. This strategy is designed to ensure RiDC remains focused, bold, and impactful in driving system change through highquality research.

Our future work will be guided by three core objectives:

Key areas of focus include transport, consumer goods, and digital accessibility, alongside emerging challenges in sustainability, health and wellbeing, and inclusive innovation. We will continue to grow our expertise in behavioural research, data science, and design thinking while deepening our engagement with our panel.

Risks such as funding pressures, societal attitudes, and maintaining panel diversity are recognised, with mitigation strategies aligned to our strategic framework. Our ambition remains clear: to create a future where decisions, products, and services work for everyone because they are shaped by those who face barriers daily.

Page 4

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees

The Trustees, who are also the directors under company law, who served during the period and up to the date of this report were as follows:

Mr Michael Briggs Dr Philip Friend OBE (Chair) (resigned 20 June 2024) Ms Judith Gubbay (resigned 29 February 2024) Mr Raj Mehta (Vice-chair) Mrs Tracy Proudlock Ms Carol Campbell Ms Karen Fraser (appointed 18 March 2024) Mr Michael Nicholson Ms Nomqhele Mbambo (resigned 1 February 2025) Ms Sandra Witzel (Chair) (appointed 20 June 2024) Mr Gregory Smith Ms Adele Aitchison

Up to a maximum of twelve Trustees are elected by the members of RiDC.

Each of the Trustees retires by rotation and may stand for re-election. Additionally, the Trustees may elect to stand until the end of the next Annual General Meeting. A Trustee so elected then vacates office if not re-elected at that meeting. The Trustees of RiDC are the only members of the company, remaining as members, only so long as they remain on the Board of Trustees.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees on 30th September 2023 was 11 (2021 – 12).

The Trustees have no beneficial interest in the charitable company.

During the year four formal Trustee meetings took place and an annual general meeting was held in February 2022. Policies for the training and induction of Trustees are in line with published guidance from the Charity Commission..

Trustees' responsibilties statement

The Trustees (who are also directors of Research Institute for Disabled Consumers 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Page 5

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

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 accuracy at any time the financial position of the charitable 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 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 of the Companies Act 2006. [ SanSigneF7879633E0B3475... d by:ra Witmel

Approved by order of the members of the board of Trustees and signed on their behalf by: F7879633E0B3475...

................................................

Ms Sandra Witzel

Date: 11-Nov-2025

Page 6

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

INDEPENDENT EXAMINERS' REPORT FOR THE PERIOD ENDED 31 MARCH 2025

Independent examiner's report to the Trustees of Research Institute for Disabled Consumers ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

Responsibilities and basis of report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for thepreparation 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 the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried outunder section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directionsgiven by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute ofChartered Accountants in England and Wales, which is one of the listed bodies.

i have completed my examination. I confirm that no matters have come to my attention in connection with the examinationgiving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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 which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention shouldbe 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 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters Iam required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permittedby law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as abody, for my work or for this report.

Signed: Dated: |[Janice] DocuSigned[Mattlws] by: 11-Nov-2025 Janice Mathews FCA 634F24DE92A4471...

Menzies LLP

Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP

Page 7

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net (expenditure)/income before net
gains/(losses) on investments
Net gains/(losses) on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
eighteen
month period
ended 31
March 2025
£
120,206
831,133
17,762
969,101
65,882
1,495,408
1,561,290
(592,189)
29,322
(562,867)
493,941
(562,867)
(68,926)		 Restricted
funds
eighteen
month period
ended 31
March 2025
£
514,351
-
-
514,351
-
-
-
514,351
-
514,351
-
514,351
514,351		 Total
funds
eighteen
month period
ended 31
March
20252025
£
634,557
831,133
17,762
1,483,452
65,882
1,495,408
1,561,290
(77,838)
29,322
(48,516)
493,941
(48,516)
445,425		 Total
funds
year ended
2023
£
455,558
333,387
11,572
800,517
32,673
765,994
798,667
1,850
(8,930)
(7,080)
501,021
(7,080)
493,941

The Statement of financial activities includes all gains and losses recognised in the period.

The notes on pages 11 to 24 form part of these financial statements.

Page 8

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee) REGISTERED NUMBER: 02669868

BALANCE SHEET AS AT 31 MARCH 2025

31 March 30 September
2025 2023
Note £ £
Fixed assets
Investments 11 266,625 334,666
266,625 334,666
Current assets
Debtors 12 79,960 172,784
Cash at bank and in hand 163,792 139,386
243,752 312,170
Current liabilities
Creditors: amounts falling due within one year 13 (64,952) (152,895)
Net current assets 178,800 159,275
Total assets less current liabilities 445,425 493,941
Total net assets 445,425 493,941
Charity funds
Restricted funds 14 - -
Unrestricted funds 14 445,425 493,941
Total funds 445,425 493,941

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable 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: ................................................ [ Ms Sandra Witzel SanSigneF7879633E0B3475... d by:ra Witeel Date: 11-Nov-2025

The notes on pages 11 to 24 form part of these financial statements.

Page 9

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash (used by) / generated from operating activities
17
Cash flows from investing activities
Dividends, interests and rents from investments
Investment movement
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
18		 2025
£
(54,190)
17,662
97,363
115,025
-
60,835
102,957
163,792		 2023
£
(102,168)
11,572
(10,629)
943
-
(101,225)
204,182
102,957

The notes on pages 11 to 24 form part of these financial statements

Page 10

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

1. General information

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 Ridc Impact Hub King's Cross, 34B New York Way, London, N19AB. Details of the operations and principal activities of the charity are set out in the Trustees' Annual Report set out on pages 2 onwards.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 accordance 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.

Research Institute for Disabled Consumers 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.

2.2 Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

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.

External projects income represents research income earmarked for projects. Income is recognised to match expenditure in the period, where projects are estimated to 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 to 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 entitled to the money.

Page 11

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Expenditure

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 of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified 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 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 costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

Investments are accounted for at market value at year end. Gains and losses investments are taken to the Statement of Financial Activities.

2.7 Liabilities and provisions

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 will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.8 Financial 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 subsequently measured at amortised cost using the effective interest method.

2.9 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

Page 12

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.10 Pensions

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 of 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 contributions 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 Scheme trustees.

The section that is structured as a defined benefit scheme is a multi-employer plan. As it is not possible for the Company to obtain sufficient information to enable it to account for the defined benefit element of the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan as permitted by FRS102. The pension charge represents the amounts payable by the Company to the fund in respect of 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 of the year.

Full details of the scheme are set out in Note 21.

2.11 Fund accounting

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 for particular 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.

3. Income from donations and legacies

Grants
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
120,206
75,000		 Restricted
funds
18 month
period ended
31 March
2025
£
514,351
380,558		 Total
funds
18 month
period ended
31 March
2025
£
634,557
455,558		 Total
funds
year ended 30
September
2023
(restated)
£
455,558

Page 13

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

3. Income from donations and legacies (continued)

Unrestricted grants includes donations of £112,500 from The Consumers' Association.

Restricted grants include £49,920 from Energy Savings Trust and £464,431 from Coventry University towards the National Centre for Accessible Transport.

£148,484 towards this project received and included within Income from charitable activities in the year to 30 September 2023 has been recategorised as grant income in these accounts.

4. Income from charitable activities

External projects
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
831,133
333,387		 Total
funds
18 month
period ended
31 March
2025
£
831,133
333,387		 Total
funds
year ended 30
September
2023
(restated)
£
333,387

5. Investment income

Income from listed investments
Interest received on bank deposits
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
17,107
655
17,762
11,572		 Total
funds
18 month
period ended
31 March
2025
£
17,107
655
17,762
11,572		 Total
funds
year ended 30
September
2023
£
10,681
891
11,572

Total 2023

Page 14

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Consultancy or commissioned research
Development and representation
Total 2023		 Unrestricted
funds
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
514,618		 Restricted
funds
18 month
period ended
31 March
2025
£
-
-
-
251,376		 Total
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
765,994		 Total
funds year
ended 30
September
2023
£
631,848
134,146
765,994

7. Analysis of expenditure by activities

Consultancy or commissioned research
Development and representation
Total 2023		 Activities
undertaken
directly
18 month
period ended
31 March
2025
£
962,763
224,382
1,187,145
588,667		 Support
costs
18 month
period ended
31 March
2025
£
261,393
46,870
308,263
177,327		 Total
funds
18 month
period ended
31 March
2025
£
1,224,156
271,252
1,495,408
765,994		 Total
funds
year ended 30
September
2023
£
631,848
134,146
765,994

Page 15

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

8. Independent examiner's remuneration

18 month
period ended Year ended
31 March 30 September
2025 2023
£ £
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts 5,500 5,025

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 18 month
period ended
31 March
2025
£
919,323
99,467
61,277
1,080,067		 Year ended
30 September
2023
£
437,560
46,407
33,726
517,693

The average number of persons employed by the Company during the period was as follows:

Researchers
Management
Administrator
Development		 18 month
period ended
31 March
2025
No.
11
2
1
-
14		 30 September
2023
No.
8
1
1
1
11

The number of employees whose annual employee benefits (excluding employer pension costs) exceeded £60,000 was:

18 month
period ended Year ended
31 March 30 September
2025 2023
No. No.
In the band £60,001 - £70,000 1 1
In the band £80,001 - £90,000 1 -

Page 16

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

10. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the period ended 31 March 2025, expenses totalling £ 631 were reimbursed or paid directly to 5 Trustees (2023 - £1,181 to 4 Trustees) in respect of travel expenses.

11. Fixed asset investments

Cost or valuation
At 1 October 2023
Additions
Disposals
Revaluations
At 31 March 2025
Net book value
At 31 March 2025
At 30 September 2023
Debtors
Due within one year
Trade debtors
Prepayments and accrued income		 31 March
2025
£
49,024
30,936
79,960		 Listed
investments
£
334,667
17,353
(114,716)
29,321
266,625
266,625
334,667
30 September
2023
£
164,262
8,522
172,784

12. Debtors

Page 17

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

13. Creditors: Amounts falling due within one year

Bank overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 31 March
2025
£
-
9,599
27,076
1,289
26,988
64,952		 30 September
2023
£
36,429
6,627
46,557
2,432
60,850
152,895

Page 18

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

14. Statement of funds

Statement of funds - current period

Unrestricted
funds
Designated
funds
Development
Fund
Pension fund
deficit
General funds
General Funds
Total
Unrestricted
funds
Restricted funds
Energy Savings
Trust
NCAT (Coventry
University)
Total of funds		 Balance at 1
October 2023
£
30,000
183,750
213,750
280,191
493,941
-
-
-
493,941		 Income
£
-
-
-
969,101
969,101
49,920
464,431
514,351
1,483,452		 Expenditure
£
-
-
-
(1,046,939)
(1,046,939)
(49,920)
(464,431)
(514,351)
(1,561,290)		 Transfers
in/out
£
(9,000)
-
(9,000)
9,000
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
29,322
29,322
-
-
-
29,322		 Balance at 31
March 2025
£
21,000
183,750
204,750
240,675
445,425
-
-
-
445,425

Designated funds

Monies have been set aside for future development.

Monies have been set aside to cover the deficit on the Pensions Scheme. Subsequent to the year end the Trustees have been informed that there is no longer a deficit on the Scheme. The balance on this fund will therefore be released on General Funds in the year to 31 March 2026.

Restricted funds

Energy Savings Trust - represents funds used on Smart home technology accessibility testing.

NCAT (Coventry University) - research fund for National Centre for Accessible Transport.

Page 19

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

14. Statement of funds (continued)

Statement of funds - prior period

Unrestricted funds
Designated funds
Development Fund
Pension fund deficit
General funds
General Funds
Total Unrestricted funds
Restricted funds
Energy Savings Trust
PRFC (Bristol University)
City of London (CBT)
NCAT (Coventry University)
Total of funds		 Balance at
1 October
2022
£
30,000
183,750
213,750
267,969
481,719
14,364
2,858
2,080
-
19,302
501,021		 Income
£
-
-
-
568,443
568,443
68,470
15,120
-
148,484
232,074
800,517		 Expenditure
£
-
-
-
(547,291)
(547,291)
(82,834)
(17,978)
(2,080)
(148,484)
(251,376)
(798,667)		 Gains/
(Losses)
£
-
-
-
(8,930)
(8,930)
-
-
-
-
-
(8,930)		 Balance at
30 September
2023
£
30,000
183,750
213,750
280,191
493,941
-
-
-
-
-
493,941

Page 20

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

15. Summary of funds

Summary of funds - current period

Designated funds
General funds
Restricted funds		 Balance at 1
October 2023
£
213,750
280,191
-
493,941
- prior period		 Income
£
-
969,101
514,351
1,483,452
Balance at
1 October
2022
£
213,750
267,969
19,302
501,021		 Expenditure
£
-
(1,046,939)
(514,351)
(1,561,290)
Income
£
-
568,443
232,074
800,517		 Transfers
in/out
£
(9,000)
9,000
-
-
Expenditure
£
-
(547,291)
(251,376)
(798,667)		 Gains/
(Losses)
£
-
29,322
-
29,322
Gains/
(Losses)
£
-
(8,930)
-
(8,930)		 Balance at 31
March 2025
£
204,750
240,675
-
445,425
Balance at
30 September
2023
£
213,750
280,191
-
Summary of funds
Designated funds
General funds
Restricted funds
493,941

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
31 March
2025
£
266,625
243,752
(64,952)
445,425		 Total
funds
31 March
2025
£
266,625
243,752
(64,952)
445,425

Page 21

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
30 September
2023
£
334,666
312,170
(152,895)
493,941		 Total
funds
30 September
2023
£
334,666
312,170
(152,895)
493,941

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities)
Adjustments for:
(Gains)/Losses on investments
Dividends, interests and rents from investments
Decrease/(increase) in debtors
(Decrease) / Increase in creditors
Net cash used in operating activities		 31 March
2025
£
(48,516)
(29,322)
(17,662)
92,824
(51,514)
(54,190)		 30 September
2023
£
(7,080)
8,930
(11,572)
(90,476)
(1,970)
(102,168)

18. Analysis of cash and cash equivalents

Cash in hand
Overdraft facility repayable on demand
Total cash and cash equivalents		 31 March
2025
£
163,792
-
163,792		 30 September
2023
£
139,386
(36,429)
102,957

Page 22

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

19. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand		 At 1 October
2023
£
139,386
(36,429)
102,957		 Cash flows
£
24,406
36,429
60,835		 At 31 March
2025
£
163,792
-
163,792

20. Pension commitments

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 of defined benefit and definedScheme comprises two sections - a hybrid section that combines the features of 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 contributions 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 Scheme trustees.

RIDC is part of a multi-employer scheme and will be unable to identify the proportion of any surplus/ deficit that relates directly to its employees. As a result, RIDC does not intend to reflect any surplus/ deficit within the balance sheet as permitted under FRS 102.

Page 23

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

RESEARCH INSTITUTE FOR DISABLED CONSUMERS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025

21. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

22. Related party transactions

During the period grants of £112,500 (2023: £75,000) were received from The Consumers' Association, a charity, as described in the Trustees' Report.

The Consumers' Association head office is at 2 Marylebone Road, London, NW1 4DF.

23. Taxation

Research Institute for Disabled Consumers is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

Page 24

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames Surrey TW18 4BP

To whom it concern

This representation letter is provided in connection with your independent examination of Research Institute for Disabled Consumers for the 18 month period ending 31[st] March 2025 in accordance with the relevant financial reporting framework, FRS 102 and the Charities SORP.

During the course of the independent examination of our financial statements for the 18 month period ending 31[st] March 2025 the following representations were made to you by management and trustees.

Financial statements

RiDC, Impact Hub Euston, 1 Triton Square, London NW1 3DX Telephone 0207 427 2460 www.ridc.org.uk company registration: 2669868 registered charity: 1007726 vat : 577 8406 92

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

Party Relationship Nature of transaction
Dr Philip Friend (resigned 20 June 20244) Trustee None.
Ms Nomqhele Mbambo 9resigned 1
February 2025)		 Trustee None.
Mr Gregory Smith Trustee None.
Ms Sandra Witzel (appointed 20 June
2024)		 Trustee None.
Ms Adele Aitchison Trustee None.
Mrs Carol Campbell Trustee None.
Mr Michael Nicholson Trustee None.
Mr Raj Mehta Trustee None.
Mr Michael Briggs Trustee None.
Mrs Tracey Proudlock Trustee None.
Ms Judith Gubbay (resigned 29 February
2024)		 Trustee None.
Ms Karen Fraser (appointed 18 March
2024)		 Trustee None.

RiDC, Impact Hub Euston, 1 Triton Square, London NW1 3DX Telephone 0207 427 2460 www.ridc.org.uk company registration: 2669868 registered charity: 1007726 vat : 577 8406 92

Docusign Envelope ID: DAC8551F-405A-472C-943E-A85FBAF3D06A

Yours faithfully,

Signed on behalf of the board of trustees of the Research Institute for Disabled Consumers by:

Trustee ............................................................... [Sand Wel 11-Nov-2025 Date .....................................................................

RiDC, Impact Hub Euston, 1 Triton Square, London NW1 3DX Telephone 0207 427 2460 www.ridc.org.uk company registration: 2669868 registered charity: 1007726 vat : 577 8406 92