Company Registrath No. 28834191England and Wales) Registered Charity No: 1030693 REGAIN- THE TRusf FOR SPORTS TEThAPLEGICS (A COMPANY UMrrED BY GUARANTEEI HNANCIAL STATEMENTS FOR ThE YEAR ENOED 31 DECEMBER 2020 'AALX)ZGTX* 2410912021 COMPANIES HOUSE
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REGAIN - THE TRUST FOR SPORTS TRApLEGICs IA COMPANY UMITED BY GUARANTEE) CONTENTS Patrons Barry Dav*s MBE Brough Scott MBE Dr Fred Middleton Mark Foster Paul Sculthorpe MBE Peter Norfolk OBE Trustees Lord fvar Mountbatten DL (Chairman) Ben Moorhead DL Dominic Coleman Miles Dean Paul Coleman Stephen Killick rimothy Holland Axandra Hodges Faisal Sultan Rob Smith Chief Executive OffKer Paul Lawren Charity number 1030693 (England and wa5) Company number 2883419 Registefed office HCR Hewitsons 3 Dorset Rise London EC4Y 8EN Principal office HCR Hewitsons 3 Dorset Rise London EC4Y 8EN Independent Examiner Gilbert Holbourn FCA. FCCA, DChA l Upper Bridge Street Wye. Kent Th125 SAF Bankers Lloyd$ Bank PIC 13-14 Cornmarket Thame OX9 28N
REGAIN - THE TRusf FOR SPORTS TEfRAPLEGICS IA COMPANY LIMITEO BY GUARANTEE) CONTENTS Report ofthe Twstees Independent examinerfs report Statement of financial activities Balènce sheet io Notes to the financial statements 11-17
REGAIN - THE TRUST FOR SPORTS TETRAPLEGIC5 {A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees present their Report tO8ether with the Financial Statements for the year ended 31 December 2020. Organisation, Structure arml G¢)veman Governing document The Trevor Jones Tetraplegic Trust wa5 created as a charity in 1988 and was incorporated on 17 December 1993 when it was giStered wrfch the Charity Commissioners for England and Wales as Charity No 1030693. In order to reflect accurately the work and Scope of the Trust, the name was changed to Regain - The Trust for Sports Tetraplegics {"Regain-l on 19 May 1995. Regain is the only charitable or8anisation dedicated solelyto improving the independence of all British men and women who have become tetraplegic as a result of a competitive sports injury. Regain is a company limited by guarantee governed by its Memorandum and Articles of Association. Appointment of trustees Trustees are selected to give an appropriate range of skills and experience. and are recruited by personal contact or by using Reach Iwww.Reachskilts.org.ukl. New trustees are introduced to the other trustees at one of iheir quarterty meetings and if considered suitable appointed at that meeting. Trustee induction and trainin8 Newly apwinted trustees are inducted by exisling trustees. The CEO send5 to all new trustees the latest governance information priKluced by the Charity Commission which OLrtlines their responsibilities and duties ès a trustee. IaniS&tion The board of trustees Ithe INstees"} administers the charitable company. They meet quarterly to make the operational decisions. The day-ttrday running of the char5table company delegated to the Chief Executive OffKer I"CEO"I. Trustees The following have held office Sin l January 2020. unless otherwise Stated. Lord Ivar Mountbatten Ichairmanl Ann Frampton (Deputy Chairl Ire-appcynted I" March 2020. Resigned 15 March 2021) Ben Moorhead Dominic Coleman Miles Dean Paul Coleman Stephen Killick Timothy Holland Alexandra Hodges {appointed l June 20201 Faisal Sultan (appointed 22 March 2021} Rob Smith (appointed 22 March 20211
REGAIN - THE TRUST FOR SPORTS TRAPLEGICS IA COMPANY UMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 310ECEMBER 2020 Objecti¥es and artiwties Mlsslon - To improve the quality of life for indNiduals who have suffered a spinal injury whi15t taking part in a sport, leisu or creatIOnal activity. that resulted in that person becoming tetraplegic Wtsion- Every sport injured tetraplegic is gvien equal opportunity to fNe as full a life as possible Aims To help sports tetraplegics lead independent arTrd fulfilling INes by fijlly or part funding equipment and facilities that improve mobility. communication, educatbonal options and employment opportunities To raise funds through donations, events, sponsorship. legacies and gifts in kind To develop and maintain lationshipS with tetraplegics and proVe support to them and their families and CaT5 To collaborate with other spinal injury charit*s and to devek)p partnerships that will have a lasting benefit for the charity and its beneficiaries To increase the awareness of risks and educate the general public to try and reduce the number of accidents re5ultin8 in tetraple81 To ensure that the governance of Regain is Working towards best practice The strategies employed to achieve the tharitable companvs obprtives are kept under review. The main activities of the charitable company are arranging fundraising events and writing to charitable trusts and corporate donor5 to support the many grant applications. Public benefit statement The Trustees confirm that they hove complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on publK benefrt,'Charities and Public Benefft,. Procedure and pollcy for grant making The first action an applicant takes is to complete an application on the Regain webstte, which then gets submitted to a Grants Panel to review. Once an initial assessment of the applitation has been completed and it is confirmed that the applicant meets the required criteria. the applicant iscontacted by a member of the Grants Panel to discuss their application further. Foltowing this discusstron, the Grants Panel revtew all applications together. and make a recommendation to the trustees as to what level of ftsndin8 is requested and what the recommendation for support is. Trustees review all recommended grant applications quarterly attru5tees meetings. Once agreed and where possible, the grant is paid direct to the supplier of the equipmeftt. Achievements and perfornte At the beginning of 2020. Regain appointed a CEO (Paul Lawrence). to lead on the thariWs Transforming Lives Campagn. which had planned to raise a million pounds within three years so that the organisation can expand on its work to sports injured tetraple8ics. This appointment coincided with moving into new office accommodation in Vauxhall. London.
REGAIN- THE TRUST FOR SPORTS TEfiiAPLEGICS (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 hievements and performance Plans for the year ahead started to be formed. when sadly, the Covid-19 pandemic meant a drastic alteration of the chariVs plans for the future. On the 1° April 2020. the charl$ two members of staff were initially placed on furlough. However. due to the dramatic k)ss of income that the charity faced, a decision was made to make the Trusts and Foundations Fundraising Offitsr poSitn redundant, and to also surrender the lease on the office accommodation from the I"June. As a result of the pandemic. the decision was also made to cancel the chariws major fundraising evenL In at The Deep End. resulting in a loss of fundraising income for the year. The Caring for Carers weekend was postponed too. and will be taking place in the autumn of 2021. The other beneficiary engagement project. the Awards for All funded Informatbon Day projert, was èlso eèncelled until a time when social gatherings could take place. In response to the added isolation that tetraplegics faced throughout the pandemic as one of the most clinically vulnerable groups. Regain launched a tetra-talk café Whe beneficiaries were invited to attend weekly online Zoom meetings. These meetings provided a great opportunity for tetra's to talk with others in a similar situation to them. and get some much-needed support and Social interartion. In September, the CEO retumed from furk)ugh and was tasked to plan for the remainder of the year. and to also put plans in place for 2021 and beyond. In every crisis. there are opportunities. and for Regain, it presented the perfect opportunity for the Charity to conduct a review of its purpose, and put in place a new strategy wrth revised aims and objectNes. that took into account the challenges of running a charity like Regain in a p05t Covid-19 world. A strategy development group was formed. which was made up of the CEO and Trustees. The char5 benefKiaries were also consulted for their view on the charrty's futu. After a thorough review, the trustees agreed on the following mission. vis and aims-. Mission- To improve the quality of lrfe for indbviduals who have suffered a spinal injury whilst taking part in a sport, leisure or recreational activity that resulted in that person becoming tetrapleEIt Irision - Every 5POrt injured tetrnplegic is gNen equal opportunity to live as full a life a5 Possible Airns To help sports tetraplegics lead independent and fvifilling lives fvlly or part fundin8 equipment and faciltties that improve mobility. cOmwnicatIoft. educational options and employment opportunrties To raise funds through donations. events. Sponsorship, legacies and gifts in kind To develop and maintain latIOnShipS with tetraplegics and provide support to them and their families and carers To collaborate with other spinal injury charities. and to develop partnerships that will have a lasting benefit for the charity and its beneficiaries To increase the awareness of risks and educate the general public to try and reduce the number of accidents resulting in tetraplegia To enSLsre that the governance of Regain is working towards best practice
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS {A COMPANY UMITED BY GUARANTEE) REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 Achievements and perfommnce With the new aims for 2021 now in place. the 0. in collaboration with the trustees, agreed variou5 deliverable actions for the forthcoming year against each of the aims of the organisatTron. These actions and its progress are reported against at the quarterly trustees rneetings. A substantial part of the planning for 2021 focussed on fundrnising artivtty. Historically. Regain has relied on challenge events as the main source of its income. with many of these events taking place overseas. ILS this primary source of income was now not available due to travel and social distancing restrictions, the fundraising strategy has focused on dNersifying the income across a number of avenues. that includes applications to charitable trusts and foundations. individual donor support, digital fvndraising, corporates. events such as the London Marathon. and new do-it-yourself fundraising events njn by the charity. Regain remained committed to continuing to supw)rt its beneficiaries through its grants scheme throughout 2020, despite the issues faced wFth rabsing funds. In total, grants were awarded to the value of£30.168. A change to how grant recommendations were made to the Trustees was made during the final quarter of the year. when a new Grants Panel was established, to reduce the amount of work that the volunteer Grants offer was havirg to do. The panel consisted of the CEO, Grants Officer and one trustee. As the main London Marathon event was postponed, Re8ain's runners took part in the virtual London Marathon, raising a fantsstic £11.326. Fundraising Regain is registered with the Fundrai&n8 Regulator and complies with their code of practice Plans for the future With the amended aims and objertives in place. 2021's fundraising will focus on creating a diverse income portfolio. However, the impact on the charrt(s ability to raise fvnds due to the pandemic will be constantly reviewed and aIteratnS made where necessary. Severnl new fundraising initiative5 will be established. and this will include an increase in Regain's digital fundrarsing capabilities through platforms such as Facebook and PayPal Givin& a new do it yourself fundraising Called Go the Distance, and the development of an individual donor project. The Caring for Carers weekend will be held in the autumn of 2021. Thanks to an extension and alteration of the funding agreement by Awards for All. the Infom)ation Day projert will change to new Virtual Reality Project that will see tetraplegics loaned equipment so that they can meet virtually, and participate together in VR games and experiences. Raisin8 awareness of who Regain are and the services that are on offer to Slxlrts injured Tetraplegics will see new marketing material produced and distributed to Spinal unit5 across the UK. Working in partnership wr(h other spinal chartties will be key to the awareness raising campaign too, as those charities have personnel visiting Spinal units on a regular basis who will be able to provide information on Regain's grant funding and other support ser¥ice5 direct to those newly injud.
REGAIN - THE TRUST FOR SPORTS TEfRAPLEGICS (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 COVID-19 The measures taken by the 8ovemment to limit harm from the COVID-19 pandemic impacted the plans for 2020. With events and public gatherings cancelled or postponed the charities abilty to raise money from events was Severe limited and consequently income wa5 muth lower in 2020. This ha5 continued into 2021 with no physical events possible in the first half of the year. Artions have been put in place to reduce costs in the short term until we are able to fvIIy assess the long term impact. The charity has a gijod level of reseNes and is able to manage the short term loss of incorne. Howeverthe current year 15 provin8 very challenging and no physical events are anticipated until summer2022. Flnancial rev5ew Total income received during the year was £71,132 compared with £3fA).187 in the previous year. Of this, £3.250 in 202012019.. £46.4211 has been recer4ed for specific projects and is $trted in use. Event income of £19,257 decreased from £260,106 in 2019. and reflected the cancellatK)n of most physical events in the year and the exceptional receipts of £21XI.528 from a single event in 2019. Costs of raising funds amounted to £70.68412019= £170,825) and expendrture on Charitable activities amounted to £61.92012019". £110.2641. inclusive of £18.610 (2019: £4.9391 for 5pecifK projects from restricted funds. The deficit of resources on unrestrirted fvnds was £23.11212019: surplus £89.7991. with the overall net deficit of £38,47212019- surplus £131.2811. Investment and reserves policy The Trustees have the power to invest any fijnds not required for immediate use on deposit or invest as they see fft. The Trustees. policy isto maintain a level of reserves which will provide a stable base forthe charitable company's continuing actNtties while at the me time ertsuring that reserves are ftot accumulated. Total unrestricted funds at 31 December 2020 ère £452,06712019= £445,857). After deducting tangible assets and investments of £430,902 12019: £394.9751 there is a deficit ol £8.157 of free reserves12019: surplus £50.8821- Cashflow will continue to be monitored carefully in 2021, and the Trustees will liquidate investment funds as required. in order to ensure that adequate cash resources a available to rneet expenditure. Rlsk management The Trustees keep under reviewthe risk areas to which they believethe Charity may be exposed under the guidance of the CEO. Procedures for mitigation, monitoring and control are in place. A summary of the principle risks and uncertaint*s identtfied by the Trustees is as folknws-
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS {A COMPANY LIMITED BY GUARANTEE) REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 Ilisk management The Charity has exp)sure to liquidity risk. The objective of the Charity in managing liquidity risk is to ensure that it can meet its financial liabilities as and when they fall due. There are no borrowings. The amount of resources a¥a1ble to distribute as charitable grants is reVWed by the Trustee5 on a quarterly basis antl isthe key factor in considering applications. Otheroperating risks are rnitigated by insurance [lIcIeS kept under review by the CEO. Truste responsibileS In relation to the financial statements The Trustees (who a also Dirertors of Regain fr>r the Fburposes of company lawl are SponSible for preparing the AnnLtal Rert and the financial statements in accordance with applicable law and United Kinedom Accounting Standards (United Kingdom Generally Attepted Accounting Prattitel. Company law requires the Trustees to prepare financial s&itements for each financial year which give a true and fairview of the stste of affairs of the ¢har?tsblecompany and of the income and expenditure of the charitable company for that period. In preparing these financial statements. the Trustees a required to select suitable accounting policies and then appfy them consistently- obseThe the method and principles in the Charities SORP- make judgements and estimates that are reayjnable and prudent- state whether applicable accounting standards have been followed, wbjert to any material departures dixlosed and explained in the financial statements,. prepare the financial statements on the going Concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable compan$ iransaction5 and disclose with reasonable accuracy at any time the financial posilion of the charitable CoMnY and to enable them to ensure that the financial statements compty 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. The Trustees. Report has l)een prepared in atcordance with the special provisions of Part 15 of the Companies Art 2(M)6 relating to small companies. The Trustees meet quarterly and review management accounts. fundraising forecasts and cashflow analyses. The Trustees belteve that the Charity is a going conrn and for this reason. the going concern basis for the preparation of the financial statements is considered valhl. Approved by the Trustees and signed on their behalf by L¢rd Ivar Mountbattefi Chairman Date: 13th September 2021
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REGAIN - THE TRUST FOR SPORTS TETRAPIEGICS I report on the accounts of the company for the year ended 31 December 2020, which are set out on pages 8tol6. Respectrve responsibilrties of trustees and examiner The Trustees (who are a150 the dirertors of the company for the purposes of company lawl are responsible. for the preparation of the accounts. The Trustees consider that artr audit 15 not required for rhis year under section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent examination is needed. I am qualified to undertake the examination by being a.qualified member of The Institute of Chartered Accountants in England and Wèles. Having satisfied myself that the Charity is not subject to audit under company law and is eligible for tndependent examinatron, rt is my respsibIlIty to= examine the accounts under section 145 of the 2011 Act,- to follow the procedures laid down in the general Oirections given by the Charity Commission under se¢tron 1451Sllbl of the 2011 Art,- and to state whether particular matters have come to my attent. Basi5 of independent examinerfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An exaEnin3tion (ncludes a revrew of the accounting records kept by the Charity and a comparison of the accounts presented wtth those records. It also intludes consideration of any unusual items or disclosures rn the accounts. and seeking explanations from you as trLFStÈes conceTnin8 any Such matters. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion 1$ given as to whether the accounts present a 'true and fair view, and the report is limited to those mètters set out in the statement below. Independent examiner's ststement In connection with my examrnatton. no matter has come to my attention.. {11 which gives me reasonable cause to believe that in any material respect the requirements.. to kÈep accounttng records in accordano with section 386 of the Companies Act 2CX)6,' and to prepare accounts which accord with the accounting records. comply Wth the accounting requirements of section 396 of the Companies Act 2(¥)6 and with t&e meihods and principles of Accotjnting and Reporting by Charities= Statement of Recommended Practice1SORPI applicable to charitie5 preparing their accourtts in accordance with the Finanaal Reporting Standard applicable to the United Kingdom and Republic of Ireland IFRS 1021 have not been met: or 121 to which. irt my opinion, attention should be drawn in order to enable a prbper UndetandIng of the accounts to be reached. Gilbert Holly)urn FCA, FCC4, DChA l Upper Bridge Street, Wye, Kent TN25 SAF Date.. 13, September 2021
REGAIN-ThE TRUST FOR SPORTS TETKAPLEGI IA COMPANY UMITED BY GUAKANTEEI STATEMENT OF FINANCLALAcrivmES IINCOMEAND EMPENDmJRn FOR THE YEAR ENDED 31 DECEMBER 2020 Z02D T(tsi Flmds 2019 Unrestricted Itestrfcted Ftsr Fund5 2019 T1 fthds Voluntary incorne Evenr5 18.844 19.257 11.929 17,852 67.882 3.150 22D94 19257 IL929 17A52 7¥13Z 41,70S 260.lr 11,955 46,421 88,126 260,106 11,955 Other kncome TotallDc¢we aDdend(wm11 3.250 313,766 46,421 360,187 Expéndiiureon.. Aaisiw funds charitab artP4it Totsi ewndtu 70.684 413.310 70.684 61.92 170.825 105.325 170.825 110,264 iJJ89 11610 18.610 4,939 4,939 113.994 276,150 Nèt I46.1} 16L4n) a7,616 41,482 79m8 RealiSedRain on disposal of inveStmeThts unrealis 8ain Oh invertts 23,(W) 23.ty 52.183 52.183 Net 1defftdtlls1S1UTAts0r1ear I23,1] 89,799 41,482 131381 Tota1 fund5 brw8htforward at ljan 2019 445.857 49J.539 356.058 3,2 359.258 Totlynd5urriodftyw¥d 31 41L745 457 445357 4,559 IrecoenisedEains and Iosse5are Ided InthÈsLitwnÈnt0lfitIIXITl Theresult5 loitheyeaiill rdotoLvnUnuiryaF0rnnS. Th•noEeson pa8ttiotu 16form gatl0ftFnl[Il 51aTewhi
REGAIN- THE TRUST FOR SPORTS TETRAPLEGICS IA COMPANY UMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2020 2019 2019 Notes Flxed Assets Tangible assets Investments i.oio 429.892 394,975 430,9)2 394,975 Current assets Debtors Cash at bank and in hand 2.313 41,604 43.917 22,704 110,725 133,429 Credltors: am<wnts fallln8 due w•thin one year 122.7521 137,8651 Net current assets 21.165 95.564 Net assets 452.067 490,539 Reserves Unrestricted funds Restricted funds 422,745 29.322 445.857 44.682 Total lunds of the Charity 452.067 490,539 For the financial year ended 31 December 2020 the Company was entitled to exemption from audit under section 477 Companies Act 2(X16 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year Fn question in accordance with section 476. The directors acknowledge their fesponsibilities for comptying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisic+ns applicable to companies subject to the small companies. regime. The notes on pages 10 to 16 form part of these financial statements. The financial statements were approved by the Trustees on xxth 2021 and $The(l on their behalf by Lord Irdr Mountbatten Company zistration No. 2883419
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS {A COMPANY LIMITED BY GUARATrifEEI NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2020 countlng policies A summary of the principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below. Basis of preparation The linanciol statements are prepared for the year ended 31 Decemter 2020. The financial statements have been prepad under the historical cost convention with items reco8nised at cost or tran5èrtion value unless otherwise stèted in the relevant accounting policies below or the notes to these accounts. The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applrcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ireland IFRS 1021 (Charities SORP FRS 1021. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Charity constitutes a public benefrt entity as defined by FRS 102. The accounts a presented in sterling and are rounded to the nearest pound. Critical accounting estimates and areas of judgement Preparation of the accounts requires the trust and management to make s¥nificant judgements and estimates. The items in the accounts where these judgements and estimates have been made include: Estimating the useful economic lrfe of tangible fixed assets Allocation of support costs Assessment of goiry concern TheTrustees have assessed whetherthe useof thegoingconcern assumption is appropriate in preparing these accounts. The Tru5tee5 have madethi5 assessment in respectto a period of one yearfrom the date of approval of these accounts. The Trustees of the Charity have toncluded that there are no material uncertaintbes related to events or conditions that may cast sEnifKant doubt on the abilty of the Charty to continue as a going concern. The Trustees are of the opinion that the Charity will have sufficient resourcesto meet its liabilities as they fall due. The most snificant èreas of judgement that affect items in the accounts are detailed above. Penslons Employees of the Charity are entitled to join a defined contribution 'money purchase. scheme. The Trusys contribution is disclosed in note 8. There were no outstanding contributions (employer and employee) at the year end. The costs of the defined contribution 5cherne are included within 5UPPOrt and governance costs in note 3. The Charity has no liability beyond making its contributions and paying across the deductions for the employee's contributions. io
REGAIN- THE TRUST FOR SPORT5 TETRAPLEGICS IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies Icontlnued) Income All income is included in the Statement of Financial Activities when the Charity is entitled to the income, receipt is probable and the amount can be quanttfied with reasonable atturacy. The followin8 specrfic policies apply to categories of income: Oonations are recognised as income when recetvable. except insofar as they are incapable of financial measurement. Investment income is accounted for in the period in which the Charity is entttled to receipt. Donated services and facilrties are included at the ¥ae to the Charrty where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Expenditure Expenditure is reco8nised on an accruals basi5 as a liability incurred. All costs are allocated between the expenditure categories in the statement of financial activities based on the use of the resource. Grants payable are charged in the year when the offer is conveyed to the recipient. Governance costs a included within charrtable actplities and reflect the costs of an independent examination in order to meet the constitutional and statutory requirements of the Charity. The costs of raising funds indude relevant proportitins of the salaries of those responsible for fundraising and the costs of items used solely for fundraising Ileaflets. etc.). The Charity exists in order to deliver a front-line service and only fundraises to facilitate that activty- other support ttjsts therefore have been allocated to charitsble activities. Related party transartions There have been no related party tranSaCtnS in the reporting pernd that require disclosure. Tangible fixed assets and depredatit)n Tangible fixed assets a stated at cost less depreciation. The costs of minor additK)ns or those costing less than £1.0 are not capitalised. Depreciation is provided at rates Calculated to write off the cost less estimated residual Value of each a55et over its experted usefullsfe. as follows= Bikes & Handcycles 20% straight line Comwter Equipment 25% straight line 1.9 Debto Debtors are recognised at their 5ettlernent amount. less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. i.io In¥estrnents The fixed asset investments are invested in UK investment trusts. This investment is a forni of financial instrument initially recognised at transaction value and subsequently measured at fairvalue at the balance sheet date using the ctrjsing quoted market price. Any gainllos5 on revaluation and disposal are recorded in the statement of financial actNities. li
REGAIN- THE TRUST FOR SPORTS TETRAPLEGICS (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2020 Accountin8 polioes {continuedl 1.11 Cash at bankand ln hand Cash at bank and in hand represents such amounts and instrnments thai are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but le5S than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment. 1.12 Cfedltors and Pfo¥isions Creditors and provisions 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 qUIred in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised atthe amount the Charity anticipates It will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 1.13 Accumulated funds Unrestricted funds are donations and other income receivable for the objects of the Charity without further specific conditions and are available as general fvnds. ReStrted funds have been donated for a specific purpose, a restrirted in use to that projert and not available as general funds. 1.14 Taxation Regain is a registered charity and therefore bs notloble to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. Income and endowments 2020 2020 Llnrestricted Restricted 2019 2019 Unrestricted Restrirted 2019 Total Tirtal V¢Auntary income 3250 22,094 41,705 46,421 88,126 Brought forward Events income recebved Deferred income c/fwd Events 2,229 17.443 14151 19257 2.229 17.443 14151 19.257 6,954 255.381 12.2291 260.106 6,954 255,381 12,2291 260.106 Investment income Bank interest Investment trust Investment income 12 11.917 11.929 li 11,917 IlJ29 li 11.944 11.955 li 11,944 11,955 Other Income 17,852 671 17852 Income and endowments 71.132 313.766 46.421 360.187
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEKf5 FOR ThE YEAR ENDED 31 DECEMBER 2020 .3 Total expendilure DireLt Support costs Total 2020 Total 2019 Raising fvnds Charitable actrvittes 26,8( 30,168 56,974 43.878 31,752 75.630 70.684 61,920 132.604 170,825 110,264 281.089 Unrestricted ftestrlcted funds funds Total 2020 Totsl 2019 Raising funds Fundraising costs {external) Employment costs and expenses of employee fundraiser Event costs Website costs Leaflets and display stands 13,863 10.841 15.965 10,841 15,965 15,091 113,285 98 935 143,272 27.553 26,806 43,878 70.684 26.806 43.878 70,684 Support Costs {see next pagel 170,825 Charitable activities Grants made for the purchase of equipment- Wheelchairs Hand bikes, computers and other Carers respite grants Awareness days 720 8,388 3,250 11.0 4,360 3,970 19.388 4,360 30.878 26,329 500 2,439 60,146 9.108 18,610 27,718 Costs of tetraplegic5 and their carers attending events 2.450 11558 21.939 33,497 2,450 30,168 21,939 52,107 28,750 88,896 13.776 102,672 18.610 Support costs (see next pagel 18.610 Governance costs Independent examination fee Support costs {see next pa£el 3.000 4.592 7.313 7,313 43310 18,610 61.920 110,264
REGAIN- THE TRUST FOR SPORTS TRApLEGICS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Total eKpend¢ture {continued) 2020 2019 Staff costs Meeting and travel costs Insurance Rent and Rates Depreciation Professional Fees Other expenses 51.473 1,087 1,968 8,651 336 3,809 5,806 32,859 509 1.804 3.799 3.553 3,397 73.130 45,921 Allocated: Costs ofgenerating yontary income {60%1 Charitable aciivities13CIJ61 Governance costs 110%) 43,878 21.939 7,313 27,553 13,776 4,592 73,130 45,921 Tangible fixed assets Total Cost At ljanuary 2020 Additions At 31 December 2020 25.045 1.346 26.391 Depreciation At lJanuary2020 Charge for the year 25,045 336 At 31 December 2020 25.381 Net book value At 31 December 2020 I,oio At 31 December 2019 14
REGAIN- THE TRUST FOR SPORT5 TEnlAPLEGICS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Fixed Asset Investments Movernent in fixed asset investments 2020 2019 Market value at l January Unrealised gain on revaluation 379,936 23.IXAI 327.753 S2,183 Market value as at 31 December 402J36 379.936 Historical cost as at 31 December 320,593 320,593 Investments at market value c¢mprised: 2020 2019 UK Investment Trust-sarasin Endowments Fund Class A Int Cash deposit 402,936 26.956 379.936 15,039 429,892 394,975 OebtoTs and prepayrnents 2020 2019 Prepayments and accrued income 2,313 22.704 2313 22.704 Credit(W5: arnOts falling due within one ar 2020 2019 Trade creditors Taxation and social security Deferred event income Committed charitable expenditu Accruals and other creditors 9,362 465 415 18,631 3.241 2,329 23.131 3.043 21752 37,865
REGAIN - THE TRUST FOR SPORTS TETRAPLEGICS IA COMPANY LIMITED BY GuARA*EEl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 8 Employees Number of employees The avera8e monthly number of employees during the yeèr wa$ 1.312019- 11. 2020 2019 Staff costs Wages and salaries Social security costs Pension contribution (see note 1.41 f4),542 228 14,180 367 219 14,766 62,187 No individual employee eamed emoluments {excluding employer pensK)rt costs) of MO ihan £60,000 In 2020 or 2019. None of the Trustees {or any person connerted with them) received any remuneration during the year 12019: none). Analysis of charitable funds Net Galn Galn on resources disposal of for year Snvestments fixed assets Transfer 2020 2020 2020 2020 Funds Blfvjd 2020 Funds Clfvid 2020 Unrestricted Restricted 445.857 146.1121 115.3601 {61,4721 23.OlXI 422.745 29,322 490,539 23.(KKJ 452.067 2019 2019 2019 2019 2019 2019 Unrestricted Restrirted 356.058 3,2LN) 359.258 37.616 41.482 79.098 52.183 445.587 44,682 4).$39 52.183 Restricted income of £3.250 was received in the year for equipment. 16