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 #255 REGAIN - THE TRUST FOR SPORTS T￿RApLEGICs 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 A￿xandra Hodges Faisal Sultan Rob Smith Chief Executive OffKer Paul Lawren Charity number 1030693 (England and wa￿5) 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. I￿aniS&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 T￿RAPLEGICS 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 proV￿e support to them and their families and Ca￿T5 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 perforn￿￿te 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 poSit￿n 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 char￿5 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. cOmw￿nicatIoft. 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 off￿er 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 aIterat￿nS 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 inju￿d. 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 ￿$tr￿ted 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¥a1￿ble to distribute as charitable grants is reV￿Wed 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￿ responsibi￿leS 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 Re￿rt 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 CoM￿nY 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 con￿rn 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 resp￿sibIlIty 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 W￿th 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 Unde￿tandIng 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 T￿￿1 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(wm￿11 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 invert￿*￿ts 23,(W) 23.ty 52.183 52.183 Net 1defftdtlls￿1￿￿S1UTAts*0r1ear I23,1￿] 89,799 41,482 131381 Tota1 fund5 brw8htforward at ljan 2019 445.857 49J.539 356.058 3,2 359.258 Tot*lynd5urriodftyw¥d *31 41L745 45￿7 445357 4￿,559 IrecoenisedEains and Iosse5are I￿￿￿ded InthÈsLitwnÈnt0lfi￿￿tIIXIT￿l Theresult5 loitheyeaiill rd*otoLvnUnuiryaF0rn￿nS. Th•noEeson pa8ttiotu 16form gatl0ftF￿￿￿nl￿[I￿l 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