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← Herts Ability Limited

2025-03-31-accounts

Registered Number: 03249335 Charity number: 1059015

HERTS ABILITY LIMITED

(A Company limited by guarantee)

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

HERTS ABILITY LIMITED

CONTENTS

Page
Legal and administrative information 1 - 2
Trustees’ Annual Report 3 - 8
Independent Examiners' Report 9
Statement of financial activities 10
Balance sheet 11
Cash flow statement 12
Notes to the Financial Statements 13 - 20

HERTS ABILITY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION

Herts Ability Limited is registered as a charity and is a company limited by guarantee governed by its Articles of Association.

Company No. 03249335 Charity No. 1059015

Directors/Trustees

The directors of the Charitable company (the Charity) are its trustees for the purposes of charitable law and, throughout this report, are collectively referred to as the trustees.

The trustees serving during the year and since the year end were as follows:

Trustees Mr N Dotchin (Chair) Mrs P Read Mr A Picken Mrs B McNeil Mrs A Mehmet-Garrison Ms V Arey Dr A Chandrayan Registered and Principal Office Suit 4 Wentworth Lodge Great North Road Welwyn Garden City Herts England AL8 7SR

Page 1

HERTS ABILITY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION (CONT'D)

Independent examiners Moore Kingston Smith LLP 4 Victoria Square Victoria Street St Albans Hertfordshire AL1 3TF Bankers The Co-Operative Bank plc 1 Balloon Street Manchester M60 4EP Fund managers CCLA Fund Managers Limited Senator House 85 Queen Victoria Street London EC4V 4ET Solicitors Ewart Price 16-18 Church Road Welwyn Garden City Herts AL8 6PS

Page 2

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

During 2024/25, the charity continued to grow and expand its services, from the offices in Welwyn Garden City and our outreach centres in Harlow, East London, Watford and Luton. We were able to offer a full range of services in Hertfordshire and surrounding areas, to meet the needs of those with a disability or reduced mobility. During the year significant progress was also made in setting up new outreach centres in Stotfold, Cambridge and Stoke Mandeville.

While continuing to focus on standard driving assessments, other services included assessing learner drivers with medical conditions, theory support sessions, hi-tech driving assessments, and an older drivers’ initiative. With additional grant funding from the Department for Transport (DfT), we also set up two Transport ‘Hubs’, to provide advice to those who were no longer able to drive. One, at the East London Driving Centre, covered North and East London, while the other, at the main office in Welwyn Garden City, covered Hertfordshire and adjacent counties.

We continued to expand partnership working with healthcare institutions during the year, as well as collaboration with local charities and other organisations. There was also a focus on social media visibility, to extend the reach of Herts Ability (HA). During the year we hosted training and open days for driving instructors and healthcare professionals, including a very successful open day at Harlow.

None of this could have been achieved without the dedication and commitment of HA’s staff, and continued funding from DfT. We recognised that effort needed to be put into recruiting additional staff, as well as into retaining existing staff, so it was agreed that there should be an uplift in salary scales to reflect market rates in the 2025/26 financial year.

Looking ahead to 2025/26, we are faced with a tough funding environment and this has shaped our business strategy for the year. With Government funding levels not being increased, we must focus on what we do best, and some projects will need to be paused or scaled back until the future funding model is clearer. For example, there will no longer be grant funding for the Transport ‘Hubs’. We will therefore need to adapt and we are confident that we will be able to do so. We will ensure our services are sustainable and efficient, while continuing to support our staff, and build strong partnerships. We will continue to raise our profile through effective communication.

The Charity’s financial position in 2024/25, including funds raised, continued to be monitored by the Board against targets, as part of the budgeting and monitoring process. The position for the year is summarised in Annex 1. In managing the activities of Herts Ability, the Trustees confirm that they have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

A list of the Trustees and ‘Associate Board Members’ who served during the year is on page 1. Details of their responsibilities etc, together with the Charity’s objectives, are set out in Annex 2. All of the Trustees are volunteers, and attend Board and other meetings, either in

Page 3

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

person or on-line. (From the beginning of the 2025 calendar year, it was agreed that Board meetings should be held quarterly rather than monthly.) Board members also assist in various aspects of the Charity’s operations, including promotion events and liaison with patrons. None of the Trustees were paid any remuneration or received any other benefits during the year. There was the opportunity to participate in external (online) training on improving the performance of Board and good governance, as recommended by the Charity Commission.

This report has been prepared in accordance with the special provisions of part 15 of The Companies Act 2016 relating to small companies.

The report was approved by the Trustees on ………., and signed on their behalf by: 20/11/2025

Nigel Dotchin, Chair, Board of Trustees

Page 4

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

ANNEX 1

Financial Review 2024/25

The charity’s financial position and funds raised continue to be monitored by the Board of Trustees against targets, as part of the budgeting and monitoring process.

Herts Ability continues to be in a good financial position at the end of the 2024/25. The trading surplus of £ 3.5k in 2024/25 has decreased from £ 23.2K in 2023/24 but the charity is clearly continuing to grow.

Other financial considerations

Reserves

It is the policy of the charity to maintain sufficient free reserves to support shortfalls in funding, replacement of capital items, unforeseen expenditure and deficits. Historically, the charity has taken the view that the reserves held should ideally be equal to around 6 months of expenditure. In 2024/25, reserves were at the level of 6.2 months (compared with 6.6 months in 2023/24).

The reserves movement of 24/25 relates to charitable activities surplus and fixed assets disposal gains.

The Board is of the view that, with the planning and budgeting that is now in place, the reserves will continue to be at a manageable level.

Investment policy

The assets of Herts Ability as at 31 March 2025 included tangible fixed assets of £ 11.2k, current assets to the value of £503.8k and a fixed asset investment of Nil (compared with £106.5k in 2023/24), these were held in COIF Charities investment fund–income units. These investments units were sold within the year and re-invested in COIF & Flagstone Deposit Accounts (COIF £241.6k & Flagstone £150.2k)

The Investment policy, applied to the fixed asset investments, has historically been based on a policy of low risk with a reasonable capital growth in the medium to longer term and income. Consideration is also given to the ethical nature of the investment.

Defined Benefit Pension Scheme Commitment

The Charity participates in the Local Government Pension Scheme, which is a multiple employer scheme, in relation to certain employees. The most recent FRS 102 valuation provided by Barnett Waddingham in 2024/25 shows a pensions surplus of £ 1.37m compared with a surplus of £939k in 2023/24.

Following changes in government rules, we have again been advised that there would be nothing more to pay into the local government pension scheme for at least the next 3 years to 2028.

Donations and Fundraising

During 2024/25, the Driving Centre generated its own income, but the charity also continued to partly finance its activities by donations. Support provided totalled £2.6k in 2024/25; there was no legacy payment.

As for our fundraising programme, opportunities for holding events during the year remained minimal, and so brought in an insignificant amount of money. As a result, it was decided that the focus of the

Page 5

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

fundraising strategy should continue to be on corporate fundraising.

ANNEX 2

Constitution

Herts Ability is registered as a company limited by guarantee and was set up, under the previous name of Hertfordshire Action on Disability, by a Memorandum of Association on 13 September 1996. The Memorandum and Articles were revised in September 2018 and February 2022.

Trustees’ Responsibilities

The Trustees (who are also directors of Herts Ability for the purposes of company law) are responsible for preparing the Trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Where turnover does not reach over £1m (for which a full audit is needed), company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of its income and expenditure for that period. In preparing these statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

None of the Trustees had any beneficial interest in any contract to which the organisation was party to during the year.

Page 6

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Method of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected for a period of three years and co-opted under the terms of the Articles of Association. At the end of the three-year term, the retiring Trustees have the option to stand for re-election. Recruitment of new Trustees is based on an identified skills gap.

The Board has adopted the Good Governance Code for Voluntary and Community Organisations, and new Trustees are duly inducted into the work of the organisation.

Remuneration Policy

The governing principles of Herts Ability’s remuneration policy are as follows:

In deciding remuneration for Herts Ability’s senior management team, the Charity considered the potential impact of remuneration levels and structures of senior executives on the wider Charity workforce, and took account of the following additional principles:

Staff remuneration for the year ended 31 March 2025 comprised salary and pension contributions. The total remuneration of the senior management team was £128,511.

Aims and Objectives of Herts Ability

The principal aim of Herts Ability continues to be the provision of services to meet the needs of disabled people in the County of Hertfordshire and surrounding area that currently includes parts of Bedfordshire, Buckinghamshire, Cambridgeshire, North and East London.

Page 7

HERTS ABILITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

The objectives of the Charity are concerned with “delivering innovative, affordable and practical services to disabled people”. As the population as a whole ages, more and more people will need help to keep mobile and independent, and the charity has an important role to play here as well.

During 2017-18 it was agreed to update the charity’s objectives, to bring greater clarity to the organisation’s role. These were agreed with the Charity Commission, and duly agreed by the Board of Trustees in May 2018. The objectives were further revised in light of the pandemic in 2020/21, and the financial circumstances of Herts Ability identified at the end of that reporting year. These were agreed with the Charity Commission and approved by the Board of Trustees in February 2022. They are now:

To relieve and assist people with physical and cognitive difficulties, as well as those people with reduced mobility, or those who may be vulnerable to such conditions by reason of age or illness, in any way which shall, for the time being, be charitable in law. We will do this by:

(a) promoting the improvement of standards of driving, and the advancement of road safety and travel;

(b) the provision and assessment of equipment;

(c) providing advice and signposting to clients, which could provide a springboard to other activities; and

(d) promoting and organising co-operation with other authorities and voluntary organisations in the achievement of the above objectives.

In updating our objectives, the Trustees have given due consideration to the Charity Commission’s published guidance on the operation of the Public Benefit requirement.

Page 8

Independent Examiner's Report to the Members of Herts Ability Limited

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2025

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's Statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Chartered Certified Accountants.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Roger Ogden FCCA

For and on behalf of Moore Kingston Smith LLP

Chartered Accountants

4 Victoria Square St. Albans Hertfordshire AL1 3TF

Date: 20 November 2025

Page 9

HERTS ABILITY LIMITED

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

Restricted
Funds
Funds
Note
£
£
INCOME AND ENDOWMENTS:
Donations & Legacies
2
2,614
-
Income from Charitable activities
4
165,452
565,542
Other trading activities
1,275
-
Income from investments
3
13,712
-
Total Income and Endowments
183,053
565,542
EXPENDITURE:
Expenditure on Charitable activities
5
182,870
565,542
Total Expenditure
182,870
565,542
Income & Expenditure Sub-Total
183
-
Gain/(Loss) on revaluation of investment assets
9
3,299
-
Net (Expenditure)/Income before transfers
3,482
-
Transfers between funds
-
-
3,482
-
Other recognised gains/(losses)
Gain on disposal of fixed assets
-
-
Actuarial gains/(losses) on Defined Benefit
Pension Schemes
15
-
-
Loss on derecognition of Defined Benefit
Pension Schemes
15
-
-
Net movement in funds
3,482
-
Reconciliation of funds
Balance brought forward at 1st April 2024
381,585
-
Balance carried forward at 31st March 2025
13
385,067
-
Net (Expenditure)/Income after transfer between
funds
Unrestricted
2025		 Total
Funds
£
2,614
730,994
1,275
13,712
748,595
748,412
748,412
183
3,299
3,482
-
3,482
-
-
-
3,482
381,585
385,067		 Funds
£
2,781
126,231
-
8,914
137,926
123,670
123,670
14,256
8,959
23,215
-
23,215
-
-
-
23,215
358,370
381,585
Unrestricted		 Restricted
Funds
£
-
567,580
-
-
567,580
567,580
567,580
-
-
-
-
-
-
-
-
-
-
-
2024		 Total
Funds
£
2,781
693,811
-
8,914
705,506
691,250
691,250
14,256
8,959
23,215
-
23,215
-
-
-
23,215
358,370
381,585

The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derived from continuing activities.

Page 10

HERTS ABILITY LIMITED BALANCE SHEET AT 31 MARCH 2025

2025 2024
Note £ £
Fixed Assets
Tangible fixed assets 8 11,227 2,968
Investments 9 - 106,498
11,227 109,466
Current Assets
Debtors 10 50,213 38,169
Cash at bank and in hand 453,637 308,278
503,850 346,447
Creditors: Amounts falling due within one year 11 (130,010) (74,328)
Net Current Assets 373,840 272,119
Total Assets less Current Liabilities 385,067 381,585
Defined Benefit Pension Scheme Surplus 15 - -
Net Assets 385,067 381,585
Funds
Restricted funds 13 - -
Unrestricted funds
- General funds 13 385,067 381,585
Defined Benefits Pension Scheme 15 - -
Total Funds 385,067 381,585

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements on pages 10 to 20 were approved by the Executive Committee and signed on its behalf by :

…………………………………. N Dotchin Chair Date: 20 November 2025

…………………………………. A Picken Trustee

Date: 20 November 2025

Company number - 03249335

Page 11

HERTS ABILITY LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net (Expenditure)/ income for the year
Adjustments for:
Depreciation of tangible fixed assets
(Gains)/losses on investments
Dividends, interest and rents from investments
Decrease/ (increase) in debtors
(Decrease)/ increase in creditors
Net cash (used in) / generated by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Fixed Asset Additions
Decrease/ (increase) in investments
Net cash from investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Analysis of changes in net debt
At start of
year
Cash
308,278
Cash equivalents
106,498
Total
414,776		 Cash flows from operating activities
Net (Expenditure)/ income for the year
Adjustments for:
Depreciation of tangible fixed assets
(Gains)/losses on investments
Dividends, interest and rents from investments
Decrease/ (increase) in debtors
(Decrease)/ increase in creditors
Net cash (used in) / generated by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Fixed Asset Additions
Decrease/ (increase) in investments
Net cash from investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Analysis of changes in net debt
At start of
year
Cash
308,278
Cash equivalents
106,498
Total
414,776		 2025
£
3,482
2,802
(3,299)
(13,712)
(12,044)
55,682
32,911
13,712
(11,061)
109,797
112,448
145,359
308,278
453,637
Cash
flows
Fair value
movements
145,359 -
-(106,498)		 2024
£
23,215
3,051
(8,959)
(8,914)
(14,488)
(14,220)
(20,315)
8,914
-
-
8,914
(11,401)
319,679
308,278
At end of
year
453,637
-
414,776 145,359(106,498) 453,637

`

`

Page 12

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting Policies

1.1. Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Charities SORP FRS 102 (second edition - October 2019) - 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 and the Companies Act 2006 and Charities Act 2011.

1.2. Going Concern

The trustees have assessed whether the use of going concern is appropriate and have considered financial information for the current year to date, projections and possible events, including any on-going impact of cost of living crisis, or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern and concluded that going concern is an appropriate basis on which to draw up the accounts.

1.3. Incoming resources

All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Donations and grants, including grants in respect of major items of refurbishment, improvements or the purchase of fixed assets are recognised in the Statement of Financial Activities when receivable. Where income is received in advance of meeting any performance-related conditions, there is not an unconditional entitlement to the income, its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met.

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 executors 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 a treated as a contingent asset and disclosed if material.

1.4. Resources expended

Expenditure is included in the Statement of Financial Activities on accruals basis. Expenditure is recognised once there is a legal or constructive obligation which can be measured reliably.

1.5. Fund Accounting

General unrestricted funds are those available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are also unrestricted funds, but have been designated by the trustees for a particular purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The surplus of the defined benefit scheme is under the control of the pension trustees and not the Charity's trustees and any surplus is therefore not recognised as an asset of the charity.

Page 13

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

1.6. Tangible fixed assets and depreciation

Depreciation of tangible fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful life.

Motor Vehicles - 25% straight line Fixtures & Furniture - 20% straight line Computer Equipment - 33.3% straight line

At the end of each reporting period, the residual values and useful lives of assets are reviewed and adjusted if necessary. In addition, if events or change in circumstances indicate that the carrying value may not be recoverable then the carrying values of tangible fixed assets are reviewed for impairment.

1.7. Fixed Assets Investments

Investments are initially measured at their cost and subsequently measured at their fair value at each reporting date. Fair value is based on their quoted price (inclusive of accrued income) at the balance sheet date without deduction of the estimated future selling costs.

Changes in fair value and gains and losses arising on the disposal of investments are credited or charged to the income or expenditure section of the Statement of Financial Activities as ‘gains or losses on revaluation of investment assets’ and are allocated to the appropriate fund holding or disposing of the

1.8. Pension costs and other post-retirement benefits

The charity operates a defined benefit pension scheme and two defined contribution pension schemes. Contributions payable are charged to the Statement of Financial Activities in the period to which they relate. The assets of the pension schemes are held seperately from the charity.

The reporting requirements of FRS102 have been applied.

1.9. Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. No items in these financial statements include significant judgements and estimates that management has made in the process of applying these accounting policies or that have a significant risk of causing material adjustment to the carrying amount of assets and liabilities within the next financial year.

1.10 Financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured as the present value of the future receipts discounted at a market rate of interest.

1.11 Financial Liabilities

Basic financial liabilities are initially measured at transaction price.

1.12 Operating Leases

Rentals applicable to operating leases where susbstantially all of the benefits and risks of ownership remain with the lessor are charged as an expense against income on a straightline basis over the period of the lease.

Page 14

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

(CONTINUED)

2 DONATIONS AND LEGACIES

2 DONATIONS AND LEGACIES
Other donations & gifts in kind
Total
3 INCOME FROM INVESTMENTS
Income from investments
Interest received
Total
4 INCOME FROM CHARITABLE
Driving Centre
Other
Total
ACTIVITIES		 £
Other
2 ,614		 2025
£
Total
2,614
2,61
4
2025
£
2,896
10,816
13,712
2025
£
725,994
5,000
730,99
4		 2024
£
Total
2,781
2
,61
4		 2,78
1
2024
£
2,840
6,074
8,914
2024
£
688,251
5,560
693,8
11

The Charity received Government grants totalling £539k (2024: £477k) from the Department of Transport to fund the provision and development of its Driving Centre Welwyn Garden City plus an additional £31k (2024: £63k) in repect of the new Centre in East London and the set up of two hubs.

Page 15

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

2025 2024
£ £
**5 ** EXPENDITURE ON CHARITABLE ACTIVITIES
Direct Service Costs 101,089 110,982
Direct Staff Costs 459,207 363,853
Support Costs (see below, including indirect staff costs) 187,484 216,415
Costs of generating voluntary income 632 -
Total 748,41
2		 691,2
50
Support costs are those shared costs which relate to the operation of the organisation and include:
Management 68,426 62,931
Finance 13,800 13,084
Office Services (including Reception) 72,964 110,074
Human Resources 2,016 1,489
Health & Safety 2,491 2,360
IT Costs 12,238 11,392
Independent Examination Fees 5,500 4,500
PR & Marketing 8,563 6,982
FRS17 Actuarial fees 1,190 3,170
Other 296 433
Total 187,48
4		 216,4
15
**6 ** NET EXPENDITURE 2025 2024
Net income is stated after charging: £ £
Depreciation 2,802 3,051
Independent examiner's fees 5,50
0
 4,
500
**7 ** STAFF COSTS AND NUMBERS 2025 2024
£ £
Wages and salaries 471,684 391,280
Social security costs 41,397 33,498
Pension costs - Defined contribution scheme 27,673 14,556
540,754 439,33
4
No. No.
The average monthly number of staff during the year was as follows:
Employees (full time equivalent) 21 2
4

No employees received employee benefits (excluding employer pension costs) of more than £60,000 in the current or preceding financial period.

There are no key personnel, non-executive trustees were used in conjunction with other senior personnel of the organisation.

The total employee benefits of the Charity's key management personnel were £128,510 (2024: £117,053)

Page 16

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

8 TANGIBLE FIXED ASSETS

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net book value
At 31 March 2025
At 1 April 2024		 Furniture and
Equipment
£
12,875
-		 Furniture and
Equipment
£
12,875
-		 Motor
Vehicles
£
-
11,061
11,061
-
922
922
10,13
9
-		 Total
£
12,875
11,061
12,875 23,936
9,907
1,880		 9,907
2,802
11,787 12,709
1,08
8
2,968		 11,2
27
2,968

9 FIXED ASSET INVESTMENTS

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Revaluation
At 1 April 2024
Revaluation for the year
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 1 April 2024		 Investments
£
62,561
-
(62,561)
-
43,937
3,299
(47,236)
-
-
106,49
8

All of the Fixed Asset Investments were held in the UK. The investments were held in the COIF Charities Investment Fund, managed by CCLA Fund Managers Limited.

Page 17

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

10 DEBTORS
Due within one year
Trade Debtors
Prepayments and accrued income
Other debtors
11 CREDITORS
Amounts falling due within one year
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors		 2025
£
9,692
40,521
-		 2024
£
5,187
32,497
485
50,213 38,16
9
2024
£
15,469
45,869
8,146
4,844

2025
£
7,125
107,819
11,187
3,879
130,010 74,32
8

Included within accruals and deferred income are the following movements for deferred income:

Deferred income brought forward
Deferred income released
Deferred income charged
Deferred income carried forward		 31,879
(31,879)
88,250		 59,258
(59,258)
31,879
88,250 31,879

12 COMMITMENTS UNDER OPERATING LEASES

At 31 March 2024 the charity had annual commitments under non-cancellable operating leases as set out below.

Operating leases which expire:
Within 1 year
Within 2 to 5 years		 2025
£
35,190
69,871		 2024
£
35,190
98,176
105,061 133,366

13 STATEMENT OF FUNDS

STATEMENT OF FUNDS
UNRESTRICTED FUNDS
General funds
Unrestricted funds total
RESTRICTED FUNDS
Transport and Driving Centre
Relocation
Restricted funds total
Total of Funds before DBPS
Total of Funds		 Brought
Forward
£
381,585		 Incoming
Resources
£
183,053		 (Resources
Expended)
£
(182,870)		 Gains/
(Losses)
£
3,299		 Carried
Forward
2024
£
385,067
381,58
5
7,807
(7,807)		 183,05
3
565,542		 (182,870
)
(565,542)		 3,29
9
-
-		 385,06
7
7,807
(7,807)
- 565,54
2
748,595		 (565,542
)
(748,412)		 - -
381,585 3,299 385,067
381,58
5		 748,59
5		 (748,412
)		 3,29
9		 385,06
7

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HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Sub total
Defined Benefits Pension Scheme surplus - see note 15
Total		 Unrestricted
Funds
2024
£
1 1,227
-
5 03,850
(130,010)
3 85,067
-
3
85,067		 Unrestricted
Funds
2023
£
2,968
1 06,498
3 46,447
(74,328)
3 81,585
-
3 81,585

15 PENSION COMMITMENTS

The Charity is party to a defined benefit scheme in relation to some employees, operates a Stakeholder Pension Scheme for certain employees and participates in the People’s Pension for relevant employees. From 1 April 2003 the Charity closed the Defined Benefit Scheme to new entrants. The Charity's contribution to the Stakeholder Pension Scheme is 4% of the employee pensionable salary on a matching basis.

Regarding the defined benefit scheme, the Charity participates in a Local Government Pension Scheme, which is a multiple employer scheme, in relation to certain employees. The most recent FRS 102 valuation provided by Hymans Robertson LLP in April 2025 shows a pensions surplus of £1,037k compared with a surplus of £939k in 2023/24. The Charity continues to fund the pension commitment by payment of contributions as determined by the actuaries.

Amounts recognised in the balance sheet
Fair value of plan assets
Present value of funded liabilities
Amounts recognised in the SOFA
Net Service cost
Net Interest
Employer contributions paid
Actuarial gain/(loss) of Defined Benefit Schemes
Fair Value of Plan Assets
Opening Fair value of Plan Assets
Contributions paid
Benefits paid
Return on assets
Actuarial gains/(losses)
Closing Fair value of Plan Assets
Defined Benefit Obligation
Opening defined benefit obligation
Service cost
Interest
Contributions
Actuarial losses/(gains)
Benefits paid
Closing defined benefit obligation		 £
1,698,000
(661,000.00)
1,037,000
(3,000)
45,000
-
56,000
1,705,000
1,000
(51,000)
81,000
(38,000.00)
1,698,000
766,000
3,000
36,000
1,000
(94,000)
(51,000)
661,000		 £
1,705,000
(766,000.00)
939,000
(4,000)
39,000
-
91,000
1,592,000
1,000
(39,000)
75,000
76,000
1,705,000
779,000
4,000
36,000
1,000
(15,000)
(39,000)
766,000

Page 19

HERTS ABILITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

15 PENSION COMMITMENTS (CONTINUED)

Pension costs are allocated based on the staff costs of the employees engaged in the relevant activities.

The surplus (asset) indicated by the difference between the value of the scheme assets and the defined benefit obligation has not been recognised on the Balance Sheet in accordance with FRS102 Section 28.22. The employer does not have a right to a refund of the surplus and no movements in the surplus are shown in the financial statements.

16 RELATED PARTIES

During the year £Nil (2024: £Nil) travel expenses were reimbursed to trustees. There are no other related party transactions that require disclosure.

17 SHARE CAPITAL

The Charity is a company limited by guarantee.

Page 20