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2022-12-31-accounts

Registered Company Number: 02671913 (England and Wales) Registered Charity Number: 1008128

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

(A Company Limited By Guarantee)

Annual Report And Financial Statements

For

Year Ended 31 December 2022

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Contents of the Report of the Trustees and Financial Statements for the year ended 31 December 2022

Page
Reference and administrative details 1
Strategic Report 2 to 8
Report of the Trustees 9 to 13
Report of the Independent Auditors 14 to 17
Statement of Financial Activities 18
Balance Sheet 19
Statement of Cash Flows 20
Notes to the Financial Statements 21 to 35

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Reference and administrative details for the year ended 31 December 2022

Status
Governing Document
Company Registration Number
Charity Registration Number
Registered Office and Principal
Office
Trustees
Honorary Officer
Principal Staff
Company Secretary
`
Bankers
Legal Advisors
Independent Auditors		 The organisation is a charitable company limited by
guarantee and not having share capital registered as a
charity on 21stJuly 1980 and incorporated on 17thDecember
1991.
The company was established under a memorandum of
association which established the objects and powers of
the charitable company and is governed under its articles
of association.
In 2010 a trading subsidiary (DEMAND SRM Ltd) was
established and which remains dormant.
2671913 (England & Wales)
1008128 (England & Wales)
c/o Building Bloqs, 2 Anthony Way,
London N18 3QT
Neil Chitty(Appointed 07/11/2022)
Victoria Lyons
Thomas Mercer
Andrew Parsons(Appointed 28/04/2022)
John Plunkett(Appointed 28/04/2022)
Anthony Soothill
Katherine White
Anthony Soothill (Chair)
Gary Evans (Chief Executive)
Frances Evans
Barclays Bank UK PLC,
Leicester, LE87 2BB
Sherrards Solicitors LLP,1-3 Pemberton Row,
London EC4A 3BG
Gerald Edelman LLP Chartered Accountants
73 Cornhill, London EC3V 3QQ

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report for the year ending 31 December 2022

Our purposes and activities

The objects of the charity are stated as:

The relief of disabled, handicapped or infirm persons and in particular;

In its current context this means helping people to overcome barriers to independence, inclusion, and participation, and we do this by;

The vision that guides our day-to-day activities is of a world in which all people are valued and are enabled to live life their way with dignity and without discrimination.

In shaping our objectives and planning our activities for the year, the Trustees have considered the Charity Commission's guidance on public benefit;

The strategies employed to achieve the charity's aims and objectives are:

Putting these strategies into action we have 7 main areas of activity which are:

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report for the year ending 31 December 2022

Custom equipment design and manufacture (‘Design for One’ – DfO)

Despite myriad technology advances since our founding in 1980, it is still the case that mainstream ‘one-size-fits-all’ disability equipment often fails to meet the unique needs of disabled people especially when they live with multiple impairments and/or complicated health conditions. DEMAND continues to innovate every day to fill this gap with equipment and products co-designed with the users and where there is a small but clearly identified wider need, to make those designs available to all who would benefit.

The projects we undertake meet the needs of people of all ages and range in complexity from the deceptively simple (e.g., a grabbing tool) to the complex (e.g., a fully articulating, fold-away artists' easel for people with impaired motor control). Projects vary in cost from a few hundred to many thousands of pounds and may take anything from a few days to many months to complete. It is in working on such projects that our placement and work experience students get to understand the meaning and practice of co-design, user-centred design, inclusive design, and design for disability.

New product design, development, and manufacture (‘Design for Many’ – DfM)

The promotion of our work online and on social media platforms will often reveal a wider unmet need for our custom equipment which would remain so if left to commercial manufacturers to develop the designs for production. The market for products like those designed by the team at DEMAND is relatively small and so it is generally uneconomic for mainstream manufacturers to pick up and run with these products on a commercial scale. Many innovative products never see the light of day because of this.

It is because of this that we have adopted an ‘always design for production’ philosophy for all our custom projects. Through working closely with users, thoughtful design, comprehensive modelling, and detailed documentation, it has become much easier and affordable to make that original one-off available to many; the research and development cost being written off against that original project work. Products currently available through the charity's online shop include Freasel (an articulated artists' easel), the Sensory Shell Chair (for young people with sensory processing disorders such as autism to help them make sense of their world by limiting environmental stimuli), Floor sitters, and musical instrument stands.

Inclusive sports equipment (Boccia)

Initially developed to meet the needs of a custom equipment client, our popular range of Boccia Ramps already provides sporting and social opportunities for people on every continent (except Antarctica). Sports clubs, youth clubs, community groups, schools and latterly, care homes seniors, have access to a truly inclusive sport by investing in our low cost, entry-level 'Lite' model and at the top end of the range the Nova - a full international competition class ramp suitable for the full range of players which is currently subject to a significant playerdriven re-design.

Online tools

We develop and support www.cracked-it.org which is an on-line platform designed to connect people with equipment needs and challenges to a global community of designers, engineers, and makers. In addition, cracked-it.org provides a platform on which we share

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report for the year ending 31 December 2022

designs for custom equipment which are made available under open license, allowing many more people to help themselves and to help others wherever they are in the world.

Student Support

Using an “user-centred” approach to design means we are constantly learning from the people we engage with. We really love sharing our skills and knowledge and we are thrilled that our work provides unique learning experiences for our undergraduate placement, and work experience students who come to us for a better understanding of co-design, design for disability, and of inclusive design. We are delighted that despite the challenges of the past couple of years we have continued to deliver these opportunities so that future generations of designers pause to consider the needs of the few as much as those of the many, and then go on to create products and services which properly cater for the needs of disabled people throughout their careers.

We have welcomed school age and undergraduate students into our workshops for many years and during 2022 we had 2 students on industrial placements. The charity benefits enormously from their energy, enthusiasm, and contribution; working with energetic and creative people always stimulates new and different thinking within the organisation which has driven change in working methods and spawned several interesting products.

We also provide practical advice to students working on their own design for disability projects where the valuable and rare insights of our skilled team are much sought after.

Helpline

In many cases, enquirers' needs can be addressed with products and services already available on the open market; if only they could be found easily. Sometimes it is just a case of knowing the right question to ask whilst at other times some lateral and creative thinking is required to pinpoint an ideal solution. In 2022, 42 families were helped in this way.

Performance and achievements

Much of the team’s focus during 2022 has been on product development (DfM projects and Boccia ramp development) which is the best way of increasing our impact whilst not simultaneously dramatically increasing our expenses. That said, we have had to absorb some massive cost increases in outsourced services, energy, and raw materials.

Pandemic driven commercial property price inflation also thwarted our plans to establish an inclusive makerspace but every cloud has a silver lining, so it is said, and so instead, we are relocating to the London Borough of Enfield and taking up residency at BLOQS, arguably Europe’s largest and best equipped professional open workshop. This move will give us better financial flexibility, as well as access to a great community of creative makers, and to state-ofthe-art manufacturing equipment and constitutes a vital element of the charity’s reboot following a period of turmoil and change in the UK.

We are a small team, and whilst it pains us not to be able to satisfy all the demands placed upon us, we continuously review our working methods and processes in our quest to be as productive and effective as possible.

We continue to develop our network of outsourcing partners with the result that our Floorsitters, Boccia Lite and Pro-X production has been significantly enhanced. We retain the

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report for the year ending 31 December 2022

capability to manufacture these products in-house should the need arise, but it is a far better use of everyone’s time to focus more on design and make projects rather than repetitive manufacturing.

It is always heartening, then, to get positive feedback for our work and products, and to be able to remind ourselves that our ‘day-to-day’ makes as much of a difference to people as it ever did;

“ I'm delighted to report your invention is working 'fantastically' and I've certainly been making up for lost time ……. and it would be far to say that the table is just perfect as it is - IT REALLY IS PERFECT.” - Shaun

“ I'm looking forward to getting back in the swing of playing and writing …. my work flow and actually production of musical pieces is rather ” more fluid and productive. – JJ

Key Performance Indicators

We focused most of our efforts during the year on product development and the backlog of bespoke equipment projects which had built up over the past 18 months due to Covid-19 lockdown periods affecting our ability to manufacture.

719 (2021: 569) people benefited from our services and products which is a great contribution to the 5-year total of 3,765.

Total revenue for the 12 months to 31[st] December was £333,377 which was down on the previous year total of £455,545.

Expenditure for the year amounted to £408,491 - 0.46% more than in 2021 (£406,606).

The charity therefore ended the year with an operating deficit of £75,114 compared to last year’s surplus of £48,939. This was largely attributable to an increasingly challenging fundraising environment (we depend heavily on Trusts and Foundations and several, post pandemic and now also dealing with renewed calls on the funds because of the prevailing cost of living crisis, have shifted focus). A second, and not insignificant factor, are post-Brexit trading challenges. Generating our own income is a gruelling undertaking. Supply chains continue to be strained. Shipments of our products into the EU are swathed in paperwork, and subject to unwelcome delays when passing through various countries’ customs procedures. Getting Boccia ramps to schools and clubs in Portugal (a historically solid market for us), for example, has been particularly problematic.

Forward cover, calculated on the average monthly budgeted monthly future expense against wholly unrestricted funds stood at 7.5 months at the year-end which is in line with our current policy (3 to 12 months).

Future plans

The trustees affirmed their commitment to making sure that the experience we have built up, and the learnings we have taken over our 40 years’ of operations, are shared with as many people as possible. In addition to our student placement and regular work experience programme, our plan, over and above designing and making more great stuff for disabled people, is to leverage the knowledge we have gained in solving real world challenges for

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report

for the year ending 31 December 2022

people, to providing and facilitating greater access to, and participation in, the art and craft of making.

The building blocks of our future plans are;

Co-operation

Using our connections and expertise to help more people directly through more collaborations with designers, engineers, and makers everywhere as well as virtually by creating open-source designs to help others help themselves and to help others.

Capability

Investing in people and securing access to state-of-the-art manufacturing technologies to improve our ability to offer increasingly advanced solutions which remove barriers to inclusion, participation, and independence. Additive manufacturing (‘3D printing’), for example, has been a terrific asset in helping us iterate ideas and designs more quickly, and digital machine tools continue to improve our production capability.

Community

We have always provided a service to anyone in need without prejudice and continue to look for ways to better engage the wider community. We will leverage our residency at BLOQS to ensure that their facilities and services are exemplarily accessible and inclusive. We are investing in all things digital, especially audience building, to make sure we have the strong support we need to realise this vision,

Championing

Better design for all. We will do this by encouraging and nurturing design and engineering talent for social good. Education has always been a cornerstone of DEMAND's work and we will continue to give young people setting out on their careers a unique insight into, and practical experience of, design and manufacture for disability through work experience, student placements, design briefs and events.

Principal risks and uncertainties

The major risks and opportunities facing the charitable company are periodically reviewed as part of the business planning and budgeting process. The Trustees confirm that all major risks have been reviewed and systems and processes have been established to mitigate and manage those risks.

The Trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the primary risk for the charity. Key elements in the management of financial risk are general prudence, tight cash control, diversification of income streams, a focus on quick decision making, raising unrestricted funds,

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Strategic Report for the year ending 31 December 2022

regular review of available liquid funds, to settle debts as they fall due, and the proactive management of trade debtors and creditors balances to ensure sufficient working capital.

The charity has experienced substantial increases in raw material and energy costs which will have a negative material effect on the charity’s budget in 2023 and beyond. Supply chains continue to be strained. We are still being negatively affected by the UK's exit from the EU. Shipments of products into EU states are swathed in paperwork and subject to unwelcome delays when passing through various countries customs procedures. We have yet to witness any upside.

At the time of writing, Trusts and Foundations, hitherto the bedrock of our income, are under great pressure to help organisations providing humanitarian and medical support in places of conflict and humanitarian crises. Add to this a domestic cost of living crisis and it is little surprise that fundraising for a small, niche charity, like DEMAND is a real challenge. It is for these reasons that we continue to seek to diversify our income generation and thereby improve our long-term resilience.

Attention is continuously given to non-financial risks relating to fire, the health, safety and general safeguarding of volunteers, staff, and clients and, in the clients' case, from product defects or failure. These risks are managed by ensuring accreditations are up to date, having robust systems, policies, and procedures, backed up with regular training for staff.

All custom equipment projects are subject to comprehensive and multiple risk assessments, pre-delivery testing and follow-ups; all essential in fulfilling our obligations as a MHRA Class 1 registered medical device manufacturer.

Data protection

The charity ensures that its data management policies, procedures and systems are wholly compliant with the General Data Protection Regulations and the six key principles therein, which are;

That personal data is

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DEMAND DESIGN AND MANUFAcfuRE FOR DISABILir Strategic Report for the year endlng 31 December 2022 f) processed in a manner that ensures appropriate security of the personal data. including protection against unauthorised or unlawful processing and against accidental1055. destruction or damage, using appropriate technical or organisational measures. On behalf ofthe board.. Anthony Soothill Chair of Trustees Date 20 July 2023

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Report of the Trustees (including Directors’ Report) for the year ending 31 December 2022

The Trustees are pleased to present their Annual Report together with the financial statements of the charity for the year ending 31 December 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 as amended for accounting periods commencing from 1 January 2019).

Chair’s summary

The word ‘reboot’ has been used previously in this document and I can think of no more appropriate a word than ‘reboot’ to describe the start of this next phase of DEMAND’s long history. Moving away from Abbots Langley, our home for the past 23 years, and taking up residency at Building Bloqs (‘BLOQS’) in the London Borough of Enfield is a transformative moment. We have pulled the curtain back on a great stage of opportunity, in terms of enhanced operational capability, in access to a terrific community of creative makers, and to be in on the ground floor of a far-reaching regeneration of a long-neglected part of our capital city.

DEMAND is now the only charity in the UK which has dedicated, full time, expert designers, and makers, with access to a comprehensively equipped workshop capable of meeting people’s needs when mainstream products fall short.

As always, we have a lively list of enquiries – everything from ride-on toys for young people with autism (helping them engage with outdoor spaces better), through to seniors looking for ironing boards suitable for seated/wheelchair use. No enquiry goes unexamined, although, sadly, our resources don’t allow us to help everyone who gets in touch. The current list of over 50 live enquiries equates to between 120 and 600 people (depending on whether we’re dealing with individuals, families, therapy groups, sporting clubs, or schools), and the list never gets any shorter nor simpler.

These are exciting and energising times, and I am delighted that Neil Chitty, Andy Parsons, and John Plunkett have joined the Board of Trustees, bringing with them a wealth of knowledge and understanding of learning disability, health, social leadership, facilities management, and transformation, as well as boundless enthusiasm for our plans. Moreover, they have helped fill the substantial void left by the retirement of The Hon. Claire Renton and of Russell Willcox – long standing trustees both. A very special thanks go to them for their commitment, counsel, and invaluable contribution over their combined 30 years on the Board.

Our achievements, and the realisation of our future plans, are only possible with the continued backing of the many Trusts and Foundations, businesses (both local and global), community groups, and individuals up and down the country, who support us financially, materially, and in kind.

On behalf of the Trustees, I thank the team, our clients, our donors, and supporters who make it possible for us to be able to contribute meaningfully to the lives of so many people.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Report of the Trustees (including Directors’ Report) for the year ending 31 December 2022

Public benefit

The primary focus of our work is to provide and make accessible equipment that improves the day-to-day living, opportunity or recovery of people living with disability, impairment, or infirmity, regardless of age or personal circumstance. Our services are provided without prejudice and address unmet needs.

Throughout 2022 we provided the following services;

Ensuring our work delivers our aims

We review our goals and key supporting strategies regularly in the context of longer term three or five-year plans. The activities and projects which support each strategy in the context of public benefit are reviewed by the Trustees regularly and periodically.

Looking forward - Objectives for 2023

In line with the charity's vision and mission, our major objectives are;

  1. To provide products and services which enhance disabled people's ability to be more independent, to actively participate in and contribute to their community and to access opportunities for learning, work, creativity, and social engagement.

  2. To develop services, globally accessible where possible, which connect, inspire and motivate designers, makers and engineers to play an active part in developing better equipment solutions for disabled people.

  3. To develop new products and services, in line with our core purpose, which improve the charity's resilience and capabilities, technically, financially, and culturally.

  4. To grow sustainable voluntary income, primarily unrestricted in nature, in order to achieve our goals.

  5. To continue to raise our profile and reputation.

  6. To Invest in and optimise the potential of our people through the introduction and adoption of new systems, processes and methods that add value to our operation and which support innovation throughout.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Report of the Trustees (including Directors’ Report) for the year ending 31 December 2022

Reserves policy

The reserves policy is to maintain forward cover of between 3 and 12 months. This policy was re-affirmed at the December 2022 Board Meeting and is designed to ensure we can continue to provide public benefit when subject to short term negative economic conditions, especially those affecting our major sources of donations.

Keeping an engineering operation open and effective means we must be able to recruit and retain skilled technical staff, and to keep the means of production working which requires premises, heat, light and power.

We have calculated that the absolute minimum buffer the charity needs is 3 months but we ideally aim to maintain between 6 to 12 months in order to

Total unrestricted reserves at 31st December 2022 were £299,682 of which £39,736 remains designated to support the charity's development. The general fund therefore stands at £259,946 which is equivalent to approximately 7.5 months' expenditure at budgeted 2023 levels and which falls within our 3-to-12-month policy.

Restricted reserves at 31st December 2022 were £989,391 of which £986,576 was restricted to fixed assets held by the charity and an additional £2,815 available for projects tightly restricted by geography, age or disability or a combination of these.

Structure, Governance and Management

DEMAND is a charity and a Company Limited by Guarantee which is overseen by a Board of Trustees, currently numbering 7, who are also Directors under Company Law with no beneficial interest in the charity.

Directors of the Charitable Company guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2022 was 7 (2021: 6).

The Trustees meet quarterly and determine the overall direction for the charity, the business and operating controls and measures of success. Day-to-day decision making is exercised by the Chief Executive, along with the Chief Finance Officer.

Pay policy for senior staff

The Board of Directors, who are the charity's Trustees, and the senior management team, are the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in note 11 to the accounts.

The pay of the senior staff is reviewed annually and normally increased in line with inflation should finances allow. In view of the nature of the charity, the directors benchmark against pay levels in small and medium engineering companies. If recruitment conditions demand, a market addition may also be paid.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY

Report of the Trustees (including Directors’ Report) for the year ending 31 December 2022

Trustees

Trustees, and the only members of the Company, who served during the year and up to the date of this report were as follows:

Board Sub-committees

In exceptional circumstances there is a Finance Sub-Committee (FSC) - consisting of up to 4, but no fewer than 3 Trustees and the senior management team - which has delegated authority to act on financial matters on behalf of the Board. The FSC commits to be available at short notice to enable swift decision making and action.

Recruitment and Appointment of New Trustees

New Trustees may be appointed by a decision of the existing Trustees. Following appointment, all new Trustees have an induction programme in order that they can properly undertake and fulfil their responsibilities to the charity.

Whilst there is no set length of term for Trustees' appointments, one third of the Trustees must present themselves for re-election by rotation at every Annual General Meeting (AGM) which is normally held in April every year. Retiring Trustees are eligible for re-appointment at the AGM by majority vote of a quorate board. Russell Willcox and The Hon. Clare Renton permanently retired from the Board of Trustees in December and Andrew Parsons and John Plunkett were appointed in April and Neil Chitty was appointed in November.

Statement of Trustees' Responsibilities

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Report of the Trustees (including Directors, Report) for the year ending 31 December 2022 Statement as to Disclosure of Infomiation to Auditors In so far as the Trustees are aware, there is no relevant audit information las defined by Section 418 of the Companie5 Act 2006) of which the company's auditors are Llnaware. and each Trustee has taken all the steps that he or She ought to have taken as a Trustee in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. Golng concern Having reviewed the Charitable Company's financial forecasts and expected future cash flows, the Trustees have reasonable expectation that the Charitable Company has adequate resources to continue its operational existence for the foreseeable future. Thus the going concern basis has been adopted in preparing the financial statements for the year ended 31st December 2022. On behalf of the board.. Anthony Soothlll Chair of Trustee5 Date 20 July 2023 13

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY (A Company Limited by Guarantee) Independent auditors’ report to the trustees of DEMAND Design and Manufacture for Disability for the year ending 31 December 2022 (continued)

Opinion

We have audited the financial statements of Demand Design and Manufacture For Disability (the ‘company’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY (A Company Limited by Guarantee) Independent auditors’ report to the trustees of DEMAND Design and Manufacture for Disability for the year ending 31 December 2022 (continued)

whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of Trustees' responsibilities, the trustees, who are also the directors of the company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY (A Company Limited by Guarantee) Independent auditors’ report to the trustees of DEMAND Design and Manufacture for Disability for the year ending 31 December 2022 (continued)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of noncompliance. Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charitable company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the Trustees.

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY (A Company Limited by Guarantee) Independent auditors’ report to the trustees of DEMAND Design and Manufacture for Disability for the year ending 31 December 2022 (continued)

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Engin Zekia FCA (Senior Statutory Auditor) 20 July 2023 for and on behalf of Gerald Edelman LLP

Chartered Accountants 73 Cornhill Statutory Auditor London EC3V 3QQ

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DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Statement of Financial Activities (including Income and Expenditure Account) for year ending 31 December 2022

Notes
Income:
Donations and Legacies
2
Charitable Activities
3
Other Trading Activities
4
Investments
5
Other
6
Total income
Expenditure:
Fundraising
7
Charitable activities
8
Total expenditure
Net income / (expenditure) and net
movement in funds for the year
Other recognised gains/(losses):
Gains on revaluation of fixed
assets
Net Movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Restricted
funds
2022 Total
funds
2021 Total
funds
£
£
£
£
278,748
29,238
307,986
359,689
20,865
-
20,865
24,723
-
-
-
1,477
1,075
-
1,075
15
3,451
-
3,451
69,641
304,139
29,238
333,377
455,545
41,402
-
41,402
37,491
336,698
30,391
367,089
369,115
378,100
30,391
408,491
406,606
(73,961)
(1,153)
(75,114)
48,939
-
-
-
251,450
(73,961)
(1,153)
(75,114)
300,389
373,643
990,544
1,364,187
1,063,798
299,682
989,391
1,289,073
1,364,187

The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.

The notes on pages 21 to 35 form part of the financial statements

18

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Balance Sheet for year ending 31 December 2022 2022 2021 Prior Total funds year funds Notes rixed assets.. Tangible a55et5 Investments 1S 984,209 987,506 16 Total fixed assets 984,210 987,507 Current a55ets: Stocks Debtors Cash at bank and in hand Total current assets 6,052 27,231 548,151 3.002 17 17.872 666.654 581,434 687,528 Liabllltles: Creditors.. Amounts falling due within one year Net current assets 18 276,5n) (310.848) 304,863 376,680 Totsl asset5 le55 current liabllltle$ 1,289,073 1.364,187 Net assets 1,289.073 1,364,187 The fund$ of the charlty: Unrestricted funds Desi8nated development fund Restricted income funds 19 259,946 39,736 989,391 333,907 39,736 990,544 TOTAL FUNDS 1,289,073 1,364,187 These financial statements have been prepared in accordance with the Companies Act 2006 relating to Charitable Companies and in accordance with the Financial Reportin8 Standard applicable in the UK nd Republic of Ireland (FRS 102) - (Charities SORP (FRS 1021> The financial statements were approved by the Board of Trustees on 13 july 2023 and were signed on its behalf by.. Anthony Chair of Trustees Date 20 July 2023 Registered Company Number.. 026n913 The notes on pages 21 to 35 form part of the financial statements 19

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Statement of Cash Flows for year ending 31 December 2022

Unrestricted Restricted 2022 Total 2021 Total
funds funds funds funds
Notes
£		 £ £ £
Cash used in operating activities 22 (126,326) 3,297 (123,029) 97,923
Interest income 1,075 - 1,075 15
Deposit paid re Sale of Old
Chapel		 (195,500) 195,500 - 195,500
Proceeds from the sale of fixed assets 3,451 - 3,451 (5,123)
Cash provided by (used in) investing
activities		 (190,974) 195,500 4,526 190,392
Increase (decrease) in cash and cash equivalents in (317,300) 198,797 (118,503) 288,315
the year
Cash and cash equivalents at the beginning of the 608,913 57,741 666,654 378,339
year
Total cash and cash equivalents at the end of
the year		 291,613 256,538 548,151 666,654

Included in restricted funds of £256,538 is £5,870 (2021: £3,229) of deferred income, restricted to a capital fund, and £41,744 (2021: £51,623) of deferred income restricted to future projects.

The notes on pages 21 to 35 form part of the financial statements

20

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

Notes on the accounts

1. Accounting policies

Charity information

DEMAND Design and Manufacture for Disability is a private Company limited by guarantee incorporated in England and Wales. The registered office is c/o Building Bloqs, 2 Anthony Way, London, N18 3QT.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102 as amended for accounting periods commencing after 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The accounts are prepared in Sterling which is the functional currency of the Charitable Company and monetary amounts in these financial statements are rounded to the nearest £.

DEMAND Design and Manufacture for Disability 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 note.

Group financial statements have not been prepared as the subsidiary undertaking is dormant and any adjustment would be immaterial after consolidation.

Preparation of the accounts on a going concern basis

The charitable company reported a cash outflow of £118,503 for the year.

The Trustees are of the view that this is within the parameters set in the annual budget and in line with the charity’s strategy of investing in skills and modern production machinery in support of its beneficiary growth aspirations.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income is recognised when the charity has entitlement to the funds and that any performance conditions attached to the item(s) of income have been met.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have

21

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution.

Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised but their contribution acknowledged in other publications and communications.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work, for specific projects or for work in particular geographies and/or for work with particular groups of people.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

22

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in notes 8 and 9.

Operating leases

The charity classifies the lease of equipment (e.g. photocopiers) as operating leases; the title to the equipment remains with the lessor and the equipment is generally replaced every 3 to 5 years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land No depreciation Buildings 2% on fair value Plant, equipment and tools 10-33% on cost Motor vehicles 25% on cost

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other recognised gains and losses within the SOFA and accumulated in reserves.

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises cost of goods that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the SOFA. Reversals of impairment losses are also recognised in the SOFA.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

23

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

1. Accounting policies - continued

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pensions

All employees of the charity were entitled to join the charity’s defined contribution pension scheme (after 3 months’ employment) which is funded by contributions from employee and employer. Members of the scheme may also contribute Additional Voluntary Contributions which are funded by the employee alone. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

The employer’s contributions made to pension schemes in 2022 were £12,792 (2021: £12,306) with an employer’s contribution rate of 5% of pensionable pay and an employee’s contribution of 5% of pensionable pay. The charity acts as agent in collecting and paying over employee pension contributions. Some members of staff were auto-enrolled into the company scheme (a qualifying scheme) at the statutory rate of at least 3%.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Financial instruments

The Charity holds only basic financial instruments. These are initially recognised at transition value and subsequently measured at their settlement value.

Critical accounting estimates and judgements

In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

24

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

2. Donations and legacies
Donations
 2022
2021
£
£
307,986
359,689
307,986
359,689

The income from donations was £307,986 (2021: £359,689) of which £278,748 was unrestricted (2021: £349,701) and £29,238 restricted (2021: 9,988).

3.
Charitable activities
Inclusive sports equipment
Donated specialist equipment
DEMAND's own products

4.
Other trading activities
Other trade revenue
5.
Investment income
Interest received gross		 2022
2021
£
£
14,728
16,222
507
17
5,630
8,484
20,865
24,723
2022
2021
£
£
-
1,477
-
1,477
2022
2021
£
£
1,075
15
1,075
15

25

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

6.
Other income
Surplus on disposal of tangible assets
Government grant		 2022
2021
£
£
3,451
3,708
-
65,933
3,451
69,641

During the year we received £NIL (2021: £65,933) in grants from the government’s furlough scheme set up to help business and charities survive the Covid19 pandemic

up to help business and charities survive the Covid19 pandemic
7.
Expenditure on raising funds
Fundraising		 2022
2021
£
£
41,402
37,491
41,402
37,491

Expenditure on fundraising activities was £41,402 (2021; £37,491) of which £41,402 was unrestricted (2021: £37,491) and £NIL was restricted (2021: £NIL).

In addition to directly attributable fundraising costs, expenditure on fundraising includes a total of £146 (2021: £158) of allocated governance costs, of which £146 (2021: £158) was unrestricted, and £Nil (2021: £Nil) was restricted.

There were also £596 (2021: £674) of total allocated support costs, of which £596 (2021: £674) was unrestricted, and £NIL (2021: £NIL) was restricted.

26

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

8. Analysis of expenditure on charitable activities

Key to activity headings

[ISE] Inclusive sports equipment [E&O] Education and outreach [HL] Helpline [SS] Student support

CE ODP SRM ISE E&O HL SS Total
2022
£ £ £ £ £ £ £ £
Designing, producing
& delivering products 150,375 52,018 145 20,467 943 11,906 17,668 253,522
and services
Marketing 8,295 10,549 1,376 3,461 - 539 1,876 26,096
Premises 13,587 6,287 2 1,048 - 419 2,095 23,438
Depreciation 3,296 - - - - - - 3,296
Governance 11,341 15,899 2 2,142 - 857 1,211 31,452
Support costs 6,092 15,785 2 2,915 2,053 688 1,750 29,285
Total 192,986 100,538 1,527 30,033 2,996 14,409 24,600 367,089

Expenditure on c haritable activities was £367,089 (2021; £369,115) of which £336,698 was unrestricted (2021: £344,519) and £30,391 was restricted (2021: £24,596). See below for the analysis of expenditure on charitable activities for the previous year (2021).

Analysis of expenditure on charitable activities for the previous year (2021)

Designing, producing
& delivering products
and services
Marketing
Premises
Depreciation Premises
Depreciation
Governance
Support costs
Total		 CE
ODP
SRM
ISE
E&O
HL
SS
Total
2021
£
£
£
£
£
£
£
£
161,801
49,237
207
24,399
504
12,383
16,181 264,712
9,816
11,179
107
3,487
-
568
2,085
27,242
6,107
4,146
1
691
-
276
1,382
12,603
-
-
-
-
-
-
-
-
2,053
-
-
-
-
-
-
2,053
10,312
15,494
2
2,031
-
811
1,170
29,820
6,633
14,785
2,931
3,278
2,343
765
1,950
32,685
196,722
94,841
3,248
33,886
2,847
14,803
22,768 369,115

27

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

9. Analysis of governance and support costs

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the seven key charitable activities undertaken (see note 8) in the year.

Refer to the table below for the basis of apportionment and the analysis of support and governance costs.

Basis of General Governance Total
apportionment support 2022
£ £ £
Trustee meetings Actual Cost - 370 370
Trustee Recruitment Actual Cost - 400 400
Salaries and related costs
Allocated on time		 21,197 18,708 39,905
Audit fees Governance - 9,900 9,900
Legal and professional Governance - 1,134
1,134
Insurances Governance - 1,077 1,077
General office Pro rata staff full time
equivalents		 8,684 9 8,693
Total 29,881 31,598 61,479
Fundraising Charitable Total
activities 2022
£ £ £
General Support 596 29,285 29,881
Governance 146 31,452
31,598
Total 742 60,737 61,479
Analysis of governance and support costs – previous year (2021)
Basis of General Governance Total
apportionment support 2021
£ £ £
Trustee meetings Actual Cost - 193 193
Trustee Recruitment Actual Cost - 850 850
Salaries and related costs Allocated on time 23,850 20,135 43,985
Audit fees Governance - 7,325 7,325
Legal and professional Governance - 461 461
Insurances Governance - 1,014 1,014
General office Pro rata full time equiv. 9,509 - 9,509
Total 33,359 29,978 63,337

28

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

9. Analysis of governance and support costs – previous year (2021) - continued

General Support
Governance
Total		 Fundraising
Charitable
activities
Total
2021
£
£
£
674
32,685
33,359
158
29,820
29,978
832
62,505
63,337
2022 2021
10. Net income /(expenditure) for the year £ £
Net resources are stated after charging:
Auditors' remuneration 9,000 7,325
Depreciation - owned assets 3,297 2,053

11. Trustees' remuneration and benefits

There were no Trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

The cost to the charity of indemnity insurance relating to the Trustees for the year amounted to £885 (2021: £832).

Trustees' expenses

One trustee was reimbursed for travelling expenses totalling £288 (2021: £192) in the year ended 31 December 2022.

Trustee recruitment expenses totalling £400 (2021: £NIL) were met during the year ended 31 December 2022.

The charity also met the expense of providing refreshments for Trustee meetings. For the year ended 31 December 2022 these expenses totalled £82 (2021: £NIL).

12.

Staff costs
Salaries and wages
Social security costs
Pension costs		 2022
2021
£
£
273,447
279,368
25,433
26,022
12,793
12,306
311,673
317,696

29

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

12. Staff costs - continued

The average monthly head count was 7 staff (2021: 7 staff)

he average monthly head count was 7 staff (2021: 7 staff)
2022 2021
Production staff 5 5
Fundraising 0 0
Management and administration 1 1
Marketing 1 1
7 7
The number of employees whose emoluments fell within the following bands was:
2022 2021
£70,001 - £80,000 1 1

Remuneration of key management personnel

The remuneration of key management personnel is as follows;

Gross salaries
Company pension contributions
Aggregate compensation		 2022
2021
£
£
122,020
134,299
5,501
5,152
127,521
139,451

13. Related party transactions

£1,212 was paid to appMotivate, a web applications and IT support Company owned by Peter Evans, a brother of the Chief Executive, Gary Evans (2021: £645).

14. Corporation tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

30

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

15. Tangible fixed assets

Cost_( or valuation at fair value_)
At 1 January 2022
Additions
Disposals written back
Revaluation
At 31 December 2022
Depreciation
At 1 January 2022
Charge for year
Eliminated on Disposal written
back
At 31 December 2022
Net book value*
At 31 December 2022
At 31 December 2021		 Freehold*
land &
buildings
Tools and
equipment
Motor
vehicles
Total
2022
£
£
£
£
979,500
143,727
10,990
1,134,217
-
-
-
-
-
(40,173)
-
(40,173)
-
-
-
-**
979,500
103,554
10,990
1,094,044
-
135,722
10,989
146,711
1
3,296
-
3,297
-
(40,173)
-
(40,173)
1
98,845
10,989
109,835
979,499
4,709
1
984,209
979,500
8,005
1
987,506

The property was last revalued in December 2017 by professional valuers, Brasier Freeth Chartered Surveyors.

At 31[st] December 2022, the property value was the amount agreed on exchange of contracts to sell.

If revalued assets were stated on an historical cost basis rather than a fair value basis, at 31st December 2022 the cost would have been £499,634 (2021: £499,634), accumulated depreciation would have been £NIL (2021: £Nil) and the carrying value would have been £499,634 (2021: £499,634).

The closing net book value represents fixed assets used for:

Direct charitable purposes
Management and administrative purposes		 Freehold
land &
buildings
Tools and
equipment
Motor
vehicles
Total
2022
£
£
£
£
881,549
4,709
1
886,259
97,950
-
-
97,950
979,499
4,709
1
984,209

31

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

16. Fixed asset investments

Market value
At 1 January 2022 and 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Shares in group
undertakings
2022
£
1
1
1

There were no investments outside the UK.

The charitable company's investments at the balance sheet date in the share capital of companies include the following:

Demand SRM Limited – registered in England and Wales under number 07352263

Nature of business: Dormant

Nature of business: Dormant
Class of share: % holding
Ordinary 100%

17. Debtors

Trade debtors
Other debtors
Prepayments and accrued income
18.
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
Taxation and social security costs
Other creditors		 2022
2021
£
£
1,500
1,350
21,420
12,723
4,311
3,799
27,231
17,872
2022
2021
£
£
5,264
2,119
59,403
100,106
14,729
8,814
197,175
199,809
276,571
310,848

Deferred income of £47,614 (2021: £54,852) included in accruals and deferred income represents restricted donations received in advance.

32

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

19. Analysis of charitable funds

Analysis of movements in unrestricted funds

General Fund
Designated Fund		 Balance
Incoming
resources
Resources
expended
Transfers &
revaluations
Funds
01 Jan 22
31 Dec 22
£
£
£
£
£
333,907
304,139
(378,100)
-
259,946
39,736
-
-
-
39,736
373,643
304,139
(378,100)
-
299,682

General Fund The 'free reserves' after allowing for all designated funds Designated Fund Designated development fund in support of the charity's beneficiary growth plan.

Restricted funds
Building fund
Plant and machinery fund
Workshop fund
Education & outreach fund
Motor vehicle Fund
Total Funds		 Balance
Incoming
resources
Resources
expended
Transfers &
revaluations
Funds
01 Jan 22
31 Dec 22
£
£
£
£
£
979,499
-
-
-
979,499
4,514
2,467
(3,720)
-
3,261
2,715
18,428
(18,428)
-
2,715
-
8,343
(8,243)
-
100
3,816
-
-
-
3,816
990,544
29,238
(30,391)
-
989,391
1,364,187
333,377
(408,491)
-
1,289,073

Building fund

The Building fund was established to provide for the purchase of the freehold building to house the charity due to the closure of Napsbury Hospital, from which it formerly rented premises.

Included in the Building Fund is a revaluation reserve and the balance at the Balance Sheet date was £479,660 (2021: £479,660).

Plant and machinery fund

The Plant and machinery Fund was established for the purchase of a vacuum moulding machine to enable the charity to mould large pieces of equipment for those with disabilities.

33

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

19. Analysis of charitable funds - continued

Designated development fund

Education and outreach fund

Workshop fund

Motor vehicle fund

The Designated development fund was established in 2014 to fund investment in skills and equipment which would increase the charity's resilience, efficiency, and capabilities to meet the challenges of the charity's beneficiary growth plan.

The Education and outreach fund was established in 2014 to extend Demand's work with schools and Universities to increase awareness of the needs of disabled people, to promote best practice in assistive equipment design and to promote inclusivity in product design.

The Workshop fund was established to hold funds given to carry out our work delivering equipment to our beneficiaries with a restriction attached (for example: a restriction relating to a specific condition, age group or geography).

The Motor vehicle fund was established to hold funds given to purchase, operate, and maintain charity vehicles.

Analysis of Net Assets by fund

Fund balances at 31[st] December 2022 are represented by:

Tangible assets
Investments
Net current assets
Total		 Unrestricted
Restricted
Total
£
£
£
1
984,208
984,209
1
-
1
299,680
5,183
304,863
299,682
989,391
1,289,073

20. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund.

represents contributions payable by the charity to the fund.
2022 2021
£ £
Contributions payable by the company for the year 12,793 12,306

34

DEMAND DESIGN AND MANUFACTURE FOR DISABILITY Notes to the Financial Statements for year ending 31 December 2022

21. Limited liability status

The charitable company is limited by guarantee and has no share capital. Every member guarantees that, if the charity is dissolved while he or she remains a member or within 12 months afterwards, to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charity while the contributor was a member.

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

Net movement in funds
Add back depreciation charge
Deduct interest income from investing activities
Deduct net proceeds from the sale of fixed assets
Decrease / (Increase) in stock
Decrease / (Increase) in debtors
Increase / (Decrease) in creditors
Net cash used in operating activities		 2022
Total
2021
Total
£
£
(75,114)
48,939
3,297
2,053
(1,075)
(15)
(3,451)
(3,708)
(3,050)
5,618
(9,359)
4,305
(34,277)
40,731
(123,029)
97,923

23. Analysis of changes in net funds

01 Jan 2022 Cash Flows 31 Dec 2022
£ £ £
Cash at bank and in hand 666,654 (118,503) 548,151

35