Charity Registration No. 1067673 (England and Wales) Charity Registration No. SC039866 (Scotland) Company Registration No. 03469653 (England and Wales) ABILITYNET (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Brooks- Chairman M Evason K Kanodia A Orsi G Pedlingham O Purcell N Rumsey D Silverstone S Woodhams IBM UK Ltd The Information Technologists. Company Patron Martha Lane Fox. Baroness Lane-Fox of Soho CBE President David Livermore OBE Vice President Roger Jefcoate CBE DL Chief Executive Gary Moore Secretary Fiona Watson Charity number England and Wales Scotland 1067673 SC039866 Company number 03469653 Principal address Microsoft Campus Thames Valley Park Reading RG6 1WG Registered office Acre House 11-15 William Road London NW13ER United Kingdom
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Auditor HW Fisher LLP Acre House 11-15 William Road London NW13ER United Kingdom Bankers Coutts & Co 440 The Strand London WC2R CK)S CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET Nationwide Building sIetY Kings Park Road MOUOn Park Northampton NN3 6NW
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees. report Statement of trUSts. responsibilities 11 Independent auditorfs report 12-16 Statement of financial activities 17-18 Balance sheet 19 Statement of cash flows 20 Notes to the financial statements 21-36
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and financial statements for the year ended 31 December 2023. The Trustees report includes the directors, report required under company law. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association. appli(xble law and United Kingdom Accounting Standards including Statement of Recommended Practice (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) Reference and administrative inforniation The charity is a company limited by guarantee registered in England and Wales under the number 03469653 at Companies House. The charity is also registered with the Charity Commission in England and Wales under number 1067673 and with the Office of the Scottish Charity Regulator under number SC039866. Trustees The Trustees, who are also directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements, were: A Brooks- Chairman M Evason K Kanodia A Orsi G Pedlingham O Purcell N Rumsey D Silverstone S Woodhams IBM UK Ltd The Information Technologists. Company None of the Trustees has any beneficial interest in the company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Chief ExeGUtive who served during the year- G Moore
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 Related parties There were no related party transacb.ons in year. structure overnance and mana Governin Document The organisation is a charitable company limit by guarantee. incorporated in the UK, and registered as a charity in England and Wales as well as in Scouand. The compa ny was establish under a Memorandum of Associab"on. which created the objects and powers of the charitable company and is governed by its Articles of Association. ement Trustee recruibnen ointmen trainin arKJ irKJucb"on AbilityNet currently has ten TrustS. WFK) are also dIrect(S under company law, there are two Corporate Ttustees being IBM (UK) Ltd and The Informab"on Technologists, Company which each appoint a representab.ve to Board. other Trustees are selected for a range of skn.lls to supp(rt the existing or emerg ing needs ofAbilityNet. When a vacancy occurs. potenb.al candidates are interviewed by a panel of Trustees. Suitable individuals are briefed by the Chairman and Chief Executive before being proposed for appointment to the Board of Trustees. New Tnjstees receive a full briefing, including an induction pack Contain1r the Memorandum and Articles, a copy of relevant policies with a glo&sary of terms and copies of minutes of previous meetings. Mana ement Key management persA)nrEI comprise TrUstS and senior management team. The Chief Executive Offi[ is restx)nsible for the chariws overall day to day management repoih.ng to the Board. Key strategic decisions are taken to the Board for approval and where apwopriate a sub-commttee is formed to consider anything that requires additional input or that neS resolub"on. The Board of Trustees (Directors) is responsible for the overall strategic d irection a nd sound financial p1acbS within the charity. The Trustees hold Board meetings on a quarterly basts, they also re1ve a MontNy Busine&s Update trom the Chief Executive which includes management acc(xJnts. a retx)rt on progress to date and any notable events in the comiw [1(X1. The Chairman, as the representative of Board. also maintains regular contact with the Chief Executtve and. wFEre rESsary. secures agreement trom the Board for urgent action, unle&s already empower by the Board to make the necessary decision_ Senior Managers are invited to Board Mee.[S to provide briefings on different aspects of the charity's work. The Ttustees provide advi and support to senior
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 managers whenever apwopriate. so that tFEir experb.se arKJ insights can be used to benefit the charity The senior management team WFK) served during the year were" G Moore (Chief Executive Officer) M Comerford ( Human ReS(xjrs) P Dalton (Sales) D Henke-Reed (AC&s1b11lty) A Low (Service Delivery) J Muscroft- Retired 5 July 2023 (Finance) F Watson - Appointed 23 May 2023 (Finance) M Wal ker (Markebng & Portfdio) Audit & Rem uneration Committees AbilityNeYs governance structure indudes an Audit committ which considers the financial conduct of the O[gana"0n arKJ related risks. The Committee meets at least twice a year, one of which is with External Auditors to review and recommend approval of the Annual report arKJ Iinancial statements. In addition, current tAans and actions are dis(xJ&sed and considered, including emerging and existing fina[la1. economic. and operational risks to the charity and the evaluation of their impact arKJ likdiho(xJ. The Committ decides if and how to include these on the charity's Risk Register. Acb"ons are agreed where necessary and progress monitored on a regular basis. During 2023 the AbilItyNetAuditCommitt was Chair by O Pur11. The Committee comprises four experiend TruStS as members arKJ is attended by AbilityNeYs Finance Director and Chief Exe(xJtive. It reports to Board of Trustees at the next available Boaid Mting. The Remu nerab.on Committee considers aS[ctS of AbilityNefs remuneration pol icy and the reward package of the Chief Exe(xJbve. committee also agrees the general pay strategy for charity to be follow by senior management. This committee is made up of f(xJr ex[rienC Ttustees and during 2023 was chaired by N Rumsey and met on. It reports to the Board of Trustees at the next available Board meeting Diversi uali AbilityNeYs desire and determinab.on is to provide an indusive environment to encourage equal opportunib.es for its employees. We aim to deal with internal and external stakeholders and members of the public tr from bias in an open and accessible way To further this aim. AblityNet wovides training to its emoYeeS (mandatory) and Trustees on Diversity and Equality to add to the (xjltural awarene and understanding of this subject throughout organisatK)n.
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 The Board of Ttustees agree context and strategic dI["0n in this area, approving policies which underpin this a0$ the charity. These are designed to inform and educate employees in our d)ligab"ons under relevant legislabon (e.g Equal ity Act 2010) and to encourage an open and indusive (xjlture througFK)Ut the charity Safe uardin AbilityNet is Committ to enabl1r a safe and rewarding environment for its em ployees and volunteers. (Xjr Safeguarding tx)licy is desigrEd to ensure everyone is treated fa irly and resptru11Y. We also have a Whistle-blowing policy so that people ca n raise a ny conrnS they have in confiden. A number of our em[A0yS and VolUnt[S catry (xjt rdes that may mean they encounter people who are considered to be vulnerable. We catry out regular criminal record checks foi ttK)se employees and VolUnt[S engaged in such roles. We review the informab.on in our safeguardIr tx)licy every Iwo years to ensure it is current and in line with best prac.. The aim is to wovide our staff and volunteers with the most up-to date knowledge and understanding. using guidance from the Government and Charity Commi&sion. adapti[ our approach accordingly How our ob"ectives deliver ublic benefit. We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and )]VeS and in planning our future activities. The Trustees have t)ught carefully about how tAanned acbvib.es will contribute to the aims and objecttves they have set. AbilityNeYs work benelits a wide range of (ganiSatIOns. I[luding the voluntary sector, public and commercial ganiSatIOns. and individuals across the United Kingdom and elsewhere. Our main obiectsves and acbvib.es arKJ WFK) we try to help are des(ibed in more detail below. Objectives and acttvities AbilityNeYs purpose Is to enable a world of digital I[lUsion by supporbng disabled and older people to achieve everything tFEy can at w( in education at home. Our ambition is to itnprove lives by recommending and demonstrating suitable technology to act as an enabler for the WFK) ne help. Ab il ityNet is krK>wn f( the extent of its ServiS. deep expertise and insights, and for supporting a wide range of individual nds. Our staff and volunteers are experts who care, although our prI[1paI fo(xJs is the UK. (xjr Influen is gld)al. As more services move onlirE. the tx)tenb"al f( social arKJ ecommic disadvantage increases for those stnjgg11r to access or use technOly. We remain the only UK
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 charity reaching (xjt to help this parkdisability group with (xjr strong motivation to ensure the technolffjy they use. or wish to use. is acssible. usable, and inclusive. How do we help? We approach this In four ways" we help people with disabilib"es. older t0e and others to use technology in their homes, educab.onal establishments. workpla. we help companies and organisab.ons adapt their digital ServIS and content, so it is accessible and inclusive for everyone to use (mainly through our ' pa id- for" services). we provide SUPEX)rt to our VolUnt[S so can help disabled and older people derive kne mt benelit from techrK)logy they use or to which they have access" we promote the availability and uptake of indusive and accessible technology The main areas we aim to Influen are" encouraging adopb.on of best prac" in the design of accessible websites, mobile apps, systems. and content industry sectors by following and promoong starKJards of Web Content ACssibilIty Guidelines {'WCAG"), engaging with major thnY companies to encourage them consistently to adva nce inclusion strategies in all their techndogies and systems, enabling disabled and dder ppIe to make effecbve use of digital technologies at home, in woik and UCatK)n. stimulabng organisations to provide a leaming and enlightened environment for their IT and web design profe&sK)nals to womote digital indusion in all of their system development" encouraging employers to adopt reasonable adjustments in their workplace environments In which thei disabled employees can maximise their potential. Achievements and rfomiance Free Services During 2023 we created impact thr(xJgh providing" tr advice and information, accessibility advi, deEkvering a&sessments. training and webinars, home support visits, remote technical supp(rt and with our events arKJ webinar programmes reaching many people US1r orline plattorms. By Work1r with partners, we were able to leverage our capabilib.es to deliver greatest impacL Advice and Infomiation We provided telephone support VH (xjr help line arKJ informab.on through our website which gives access to tree factShts. arb.cles and bIs. Our su pport Servi resolved 4.905 calls during 2023 versus 4.457 in the prior year.
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 Abili Net VOluntr ro ramme "IT Can hel The "ITCanHel p piogramme direcuy helps disabled and older tople by providing IT support in theii homes or remotely. The service ra[eS from advice on installing equipment to diagnosing arKJ fixing problems and providi training In 2023 we provided support on 3.533 (casIOnS to disabled and older t0e with their IT needs. Demand for our volunteers grew. sUpportir their communitEs directly as well as working with community partrErs to supp(rt distribub.on of free devices to those in need. Our 476 volunteers (at end of )23) generated an IneaSe of over 30°/0 in the hours spent with (xjr clients and community partrErs compared to 2022, either face to fa or remotely. We successfully del1ver another year of our events pr[aMMe covering a number of free webinars arKI training sessions on digital acce&sibility and disability-related topics. Online services We had 1 .7m unique VISIt(S to (xjr onlirE properb.es in 2023. (Xjr tr factsheets were downloaded 104,155 b"mes. which provide advi and information about how computers and other digital technologies can help ppIe with a range of conditions and impairFnents to achieve their goals. We recorded 1 .4m page views of MyComputerMyWay - our comprehensive, easy-to- use guide to the a&$[bility opb.ons available for tree on computers, tablets and mobiles. Techshare Pro We hosted another vw succe&sfiJl year of our Thshare Pro conference, bringing back a substantial in-person comporEnt to the experien. Techshare Pro attracts contributors and attendees trom around the world. addressing many topics at the intersection of disability and technOly. The 7 AbilityNet Techshare Pro confere[e was a FwbrKJ (online and in-person) event held over 3 days from 13th to 15th November 2023. TIE principal venue was HSBC'S Canada Squaie FEadquarters in Canary Wharf. In 2023, 78 speakers Joined us in 40 different se&sions indud1 business leaders, marketers, accessibility leaders. disabl ity charities. influencers. UK and Europea n Governments, and more. The event Includ contribub.ons from companies such as HSBC, Microsof¢ Google. Sony. HSBC. Intui( Crawford Technologies, Apple, Channel 4, WPP, Purple Goat. P&G. EY. Hargreaves Lansdown, Grant Thornton, BP and KPMG, and trom Ottr[ leading sector organisations such as Purple Space, BDF, Valuable 500, RNIB and many otFErs. Delegates and supporters rep(rt that they find the content in this conference very valuable, offering a high-profile plattorm to engage (xjrrent and potential stakeholders in the topic of digital a&ibIlity and related topi(s in the disability field.
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 Public Benefit Our esbmate of public benefit value of all of our free serViS ddivered in 2023 under our measure is £1.864k versus £1.598k in 2022 (16./0 up year on year) Our impact report for 2023 can be found using this link to our website". Abili act Re ort 2023 Net Net Accessibili Services Organisations from across public. private and third St0[S sA)ught our advice and recommendations to enable them to deliver their online content In acSsible and inclusive ways to widest tx)ssible audien. We provided a range of advi and consultancy services covering strategy, audit, user test and accreditation. not only for tradib.onal web serViS but also for tablet and mobile apps, iestKsfKling to market demarKJs from both dients and end users. Economic uncertainty in UK duri[ 2023 depressed demand for these services, with many companies reduC1r budgets arKJ postponiru prqects. This significantly impacted our income and caused us to adjust our reS(xjrs, leading to some redundancies during the year. Nevertheless. ACssibilIty contimes to rise up the social and business agerKJas of many companies. inlluencing their approach and budgeting for digital ServiS. TFEY observe the impact thr(xAgh the legislation affecting Public Sectoi enb.ties in this regard" they also see otherjurisdictions such as the US and Canada indud1r the private sector within the scope of their Accessibility legislation, as the Eu[0[an Commi&sion is also in pr(e&S otenacting The work we urKlertake with companies to opb.mise the accessibility of their websites and apps continues indiectly to FElp improve digital experience of substantial numbers of users. It is difficult to quantify the impact this has arKJ so we do not estimate it here. Assessment SeNices During 2023, whilst sbll engag in the DSA programme. we delivered 338 assessments to students under scheme. mainly remotdy but also induding some face-to-face assessments. The Disabled Studenys Ajlowance (DSA) scheme was put (xjt to public tender by the student Loans Company in late )22. with the result an[K)und in 2023. Despite our innovative response to the tender. we were unsuccessfijl. We wound up our DSA programme duritu 2023. including Maki[ some staff rUrKjant, which had a significant impact on our income. Separately, we also provided remote W(kplaCe assessments for those with a disabil ity or impairment to get into w(k or stay in work This Se1 hel ps employers, and their disabled staff identify end-to-erKJ sdub.ons for any reasonable adiustments to their working environment as well as recommerKJab"ons in the use of equipment and helpfrjl training
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 We hdped 2,867 employees in vari(xJs organisab.ons with advice and recommendations to a&sist with their contirxjed emtAoyment in 2023. Plans for the future Our funding continues to be dominated by (xjr chargeable setvices in the areas of Accessibility and Wo[k[ace arKJ we bdieve this will continue in 2024. We will continue to deliver to oui exist1r arKJ rEw clients a range of seeS for helping them achieve on-l ine com lan and improv1r the accessibility of ttrEirweb, mobile, tablet and application ServiS. We also intend to conb"rKJe growing our acbvities with fiJrKJed projects with sockgl goal s consistent with our charitable d)Jectives. whether privately or publidy funded. As technology evdves. so does best Wacte in the fidd of acSsibl11tY arKI we will continue to invest in re(UItMent and development of skilled expertise and in systems a nd wocesses to help our consultants effecbvely supw)rt clients. Review of financial ition The Summary of the year erKJed 31 Dember 2023 is as follows" I ncoming Resources am(xJnted to £4.554.827 (2022 £5.727,697) Outgoing Resouices am(xJnted to £5.225.253 (2022 £5. 582,739) A loss recorded of £670.426 (2022 surtAus recorded of £144,958) after depreciation costs. At the Balan Sheet date Charity's total funds amount to £1,633,662 (2022. £2, 304,088) Fr Reserves amounted to £1 .564.339 (2022. £2.209,902) Fundraisin Com liance AbilityNet recognises that the gerErosity of our donors and partrErs is a critical constituent of our fundi[ which enables us to carry out our chantable activities. We will continue to seek a diverse range of sources of I[oMe for our charitable activities. Whilst our aim is to maximise (xjr income. we [nISe that on very rare occasions we may consider iefusing a donab.on or other invdvement with a sponsor or a particular actThiity. In such an Instan we will actwith utmost integrity", we will respect any matters of legitimate confidenb"ality and. in conducb.ng all discussions and conveying the decision. will aim to respect the dignity of the prostEctwe dorK)r a ndlor partner. We had no occasions in )23 to refijse any donab"ons. We seek to adhere to the highest standards of fijndra1slr practi. Our fijndraising activities comply with standards in the C(xJe of Fundrais1r PraCb".
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 We have received no complaints about our fijndraising this year. We also pay close attention to the changing regulatory environment to ensure that we remain compliant with best pracbce and that any fiJrKJraising is transparen( hones( arKI non-intrusive. We did not employ professional fijndra1slr agencies. with the majority of fundraising activibes planned and delwered in-house. ReseNes olic The charity's ambitK)n in medium to longer term is to provKJe six months, cover of the charity's day to day average running Cts. Our free reserves (being unrestrict Reserves excludiru FIX Assets) as at 31 December 2023 stood at £1.564.339 versus £2.)9.902 prior year, providing 4.2 months, cover of an average of our last 3 month's operating costs. versus 5.2 months from the year bef(Ke. The Board remains Committ to strengthening our reserves and working towards attaining the obiecttve set in the policy. Risk factors The Trustees and Management kp the [kS to which the charity is exposed under review a nd have establ ished monitoring w(esseS to urKJerstarKJ a nd mitigate those risks. Strategic and shorter-term plans are reviewed on a regular basis. The Trustees have identified thata key risk the COnntra.On of commercial income, that is contract backed. from a small number of sou[s. Working with the Management team we contirxje to make wogre&s to diversrfy the customer base and grow alternative soulS of income thr(xJgh developir arKI ddivenng new services into the accessibility arena_ Risk Management is an integral part of the management process and is underpinned by timely reporting arKJ regular Senior Leadership meetings. Mibgation of risk is actively monitored with regular rep(rting at Board arKJ FIna[e Committee meetings. Goin Concern The Trustees are satislied that restructur1r arKJ ct mib"gab"on actions enacted since the Charity learrEd it was Unsuc&s[Ul in its collaborative bid to win the DSA tender and changing matket condib"ons. have significantly reduced costs. This is kept under regular review with Senior ManagemenL Addib"onally. the Trustees are satisfied that the Charity's efforts to expand acbvities in its chargeable services, given the anticipated impact of further (xjltural and regulatory changes for corporate customers in the coming years. will in medium term. pla the Charity on a firm financial footing Accord ingly, at the b.tne of apwoving fina[la1 statements. the Trustees are content that the compa ny has adequate resources. to continue in operation for the foreseeable
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2023 future. Thus, the Tiustees conb.rxje to adopt the g01r cOnM basis of accounbng in preparing the financial statements. Disclosure of infonnation to the auditor Each of the Trustees ( Directors) has conlirmed that tFEre is rK) information of which they are aware which is rdevantto the audi( but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to idenbfy such rel evant information and to establish that the auditors are aware of such infonnation. Auditor The Board Finance Committee has responsbility for monitoring the independence and objectivity of the extetnal audttor and the effecbvene&s of the Audit process and fixing its renumeration. audit(. HW FisFEr LLP. is deem to be reappointed under section 487(2} of Companies Act 2(X)6. Notwithstand1r this in line with FRC gu ida nce and good govemance the committee has resolved to undertake a review of the current arrangements. On behalf of the board of Ttustees Owen Purcell Trustee 24 Apr2024 Date. 10-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the directors of AbilityNet for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that year. In preparing these financial statements. the Board are required to: select suitable accounting policies and then apply them consistently: - observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent: and prepare the financial statements on the going conrn basis unless it Is inappropriate to presume that the charity will continue in operation. The Board are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ABILITYNET Opinion We have audited the financial statements of AbilityNet (the 'charity ) for the year ended 31 December 2023 which comprise the statement of financial activffties, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (U n ited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended: have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared In accordan with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2CK)6 (as amended). Basis for opinion We conducted our audit in accordan with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described i n the A uditor's responsibilities for the audit of the finanual statements section of ou r report. We are independent of the charity in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethi(xl responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue as a going conrn for a peri of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 12-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ABILITYNET Other information The other information comprises the information included in the annual report other than the financial statements and our auditorfs report thereon. The Board are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and. eXpt to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the trustees. report. which includes the directors, report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors, report included within the trUSts. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audtt. we have not identified material misstatements in the directors, report included within the trustees. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to reportto you if. in our opinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the Board were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. 13-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ABILITYNET Responsibilities of trustees As explained more fully in the statement of trustees. restx)nsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine Is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going COnrn. disclosing, as applicable, matters related to going conrn and using the going conrn basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance atx)ut whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud. is detailed below. 14-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ABILITYNET As part of our planning process" We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are most susceptible to the risk of irregularities and fraud, and whether there was any known. suspected or alleged fraud. The charity did not inform us of any known. suspected or alleged fraud. We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant" the Charity SORP, FRS 102, Charities Act 2011. Companies Act 2CK)6. the Charib'es and Trustees (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). We considered the incentives and opportunities that exist in the charity, including the extent of management bias. which present a potential for Irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. Using our knowledge of the charity. together with the discussions held with the charity at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our ProdureS according to this risk assessment. The key procedures we undertk to detect irregularities including fraud during the course of the audit included: Identifying and tesb'ng journal entries and the overall accounting records, in particular those that were significant and unusual. Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. Testing key revenue lines. in particular cut-off. for evidence of management bias. Performing a physical verification of key assets items. Assessing the extent of compliance. or lack of. with the relevant laws and regulations. Assessing the validity of the classiFI(xtion of income. expenditure, assets and liabilities between u n restricted and restricted funds. Obtaining third-party confirmation of material bank balances. Documenting and verifying all signiFI(xnt related party balanS and transactions. Reviewing documentation such as the charity board minutes for discussions of irregularities including fraud. Owing to the inherent limrtations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:Ilwww.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. 15-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ABILITYNET Use of our report This report is made solely to the charitable CoMpanS members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the regulation 10 of the Charities Accounts (Scodand) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable CoMpanS members and trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not aCpt or assume restx)nsibilrty to anyone other than the charitable company, the charitable company's members as a body, and the charitable company s trustees as a body. for our audit work. for this report. or for the opinions we have formed. Carol Rudge (Senior Statutory Auditor) for and on behalf of HW Fisher LLP Chartered Accountants Statutory Auditor Acre House 11-15 William Road London NW13ER United Kingdom 24 Apr 2024 16-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Current financial year Unrestiicted Restricted funds funds 2023 2023 Tota Total 2023 2022 Notes Income from: Voluntary income Charitable activities Investments 299.509 4 4.124.882 66.852 63.584 363,093 308,637 4,124,882 5,407,792 66,852 11,268 Total income 4.491.243 63.584 4,554,827 5,727,697 Charitable activities IT solutions for disabled people 5.156.433 68.820 5,225,253 5,582,739 Total charitable expenditure 5.156.433 68,820 5,225,253 5,582,739 Net {expenditure)Iincome for the yearl Net movement in funds (665.190) (5.236) (670,426) 144,958 Fund balances at 1 January 2023 2.295.836 8.252 2,304,088 2,159,130 Fund balances at 31 December 2023 1.630.646 3.016 1 ,633,662 2,304,088 The statement of financial activities includes all gains and losses recognised in the year. All income and expendrture derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 17-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prior financial year Unrestiicted Restricted funds funds 2022 2022 Total 2022 Notes Income from: Voluntary income Charitable activities Investments 247.010 5.407.792 11.268 61,627 308,637 5,407,792 11,268 Total income 5.666.070 61,627 5,727,697 Charitable activities IT solutions for disabled people 5.525.498 57,241 5,582,739 Total charitable expenditure 5.525.498 57,241 5,582,739 Net income for the yearl Net movement in funds 140.572 4,386 144,958 Fund balances at 1 January 2022 2.155.264 3,866 2,159,130 Fund balances at 31 December 2022 2.295.836 8,252 2,304,088 The statement of financial activities includes all gains and losses recognised in the year. All income and expendrture derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 18-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets 11 66.307 85,934 Current assets Debtors Cash at bank and in hand 12 388.637 2.798.291 687,666 2.893,041 3.186.928 3.580,707 Creditors: amounts falling due within one year 13 (1.619.573) (1.362,553) Net current assets 1.567.355 2,218,154 Total assets less current liabilities 1.633.662 2,304,088 Income funds Restricted funds Unrestricted funds 16 3.016 1.630.646 8,252 2,295,836 1.633.662 2,304,088 24 Apr 2024 The financial statements were approved by the Board on . Owen Purcell Trustee Company Registration No. 03469653 19-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows f rom operating activities Cash (absorbed by)Igenerated from operations (127.544) 264,971 Investing activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Investment income received (29.452) (100,961) 547 66.852 11,268 Net cash generated froml{used in) investing activities 37.947 (89,693) Financing activities Payment of obligations under finance leases (5.153) (22,736) Net cash used in financing activities (5.153) (22,736) Net {decrease)lincrease in cash and cash equivalents (94.750) 152,542 Cash and cash equtvalents at beginning of year 2.893.041 2,740,499 Cash and cash equivalents at end of year 2.798.291 2,893,041 -20-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information AbilityNet is a private company limited by guarantee incorporated In England and Wales. The principal address is Microsoft Campus. Thames Valley Park, Reading, RG6 1WG, United Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordan with the charity's Memorandum and Arttcles of Association. the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005. the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli(xble in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest GB pound sterling. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting tx)licy. 1.2 Going concern The Trustees are satisfied that the restructuring and cost mitigation actions enacted since the Charity learned it was unsucSsful in its collaborative bid to win the DSA tender and changing market conditions. have signiFI(xntly reduced costs. This is kept under regular review with Senior Management. Additionally. the Trustees are satisfied that the Charity's efforts to expand activities in its chargeable services, given the anticipated impact of further cultural and regulatory changes for corporate customers in the coming years. will in the medium term. place the Charity on a firm financial footing. Accordingly, at the time of approving the financial statements. the Trustees are content that the company has adequate reSoUrs. to continue in operation for the foreseeable future. Thus, the Trustees continue to adopt the going conrn basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. -21
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity's work or for specific projects being undertaken by the Charity. 1.4 Incoming resources All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific tx)licies are applied to particular categories of income: Voluntary resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The value of ServIS provided by volunteers has not been included in these financial statements. Intangible income (such as rent-fr accommodation) is included where a third party is bearing the cost of supplying the resources and the resources can be valued with reasonable accuracy. Investment income is included when re1Vable. Incoming resources from charitable trading activities are accounted for when earned. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity: this is normally upon notification of the interest paid or payable by the Bank. 1.5 Resources expended Expenditure is recognised On there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes the costs of the delivery of its activities and services for its beneficiaries. All support costs are allocated to the one charitable activity of IT solutions for disabled people. -22-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. as below. A full yearfs charge is not accounted for in the year of acquisition. Instead, the depreciation charge is time apportioned based on the month of purchase of the tangible fixed asset. Assessment assets On a straight line basis over their estimated life of 1-3 years. On a straight line basis over their estimated life of 1-3 years Office equipment The gain or loss arFsing on the disposal of an asset is determined as the difference between the sale proedS and the (xrrying value of the asset. and is recognised in net incomel(expenditure) for the year. 1.7 Cash and cash equivalents Cash at bank and cash in hand includes (xsh and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. -23-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.10Leases Leases are classified as finan leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finan leases are recognised as assets at the lower of the fair value of the assets at the date of InPtIon and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net incomel(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability. 1.11 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered and provision for bad and doubfful debts. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.12Creditors and provisions Creditors and provisions are rognISed where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 1.13Foreign exchange Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balan sheet date. All differences are included in net incoming resources. -24-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critical accounting estimates and judgements In the application of the charitys accounting policies. the Board are required to make judgements, estimates and assumptions about the (xrrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There were no critical accounting estimates. Voluntary income Unrestiicted Restiicted funds funds Tota Unresthcted Restricted nds funds Total 20Z3 2023 20Z3 2022 2022 2022 Donations and gifts Intangible income 32.564 266.945 63.584 96.148 50,589 266.945 196.421 61,627 112,216 196,421 299.509 63.584 363.093 247.010 61,627 308,637 Intangible income comprises primarily free Offi facilities. sofvare and services as well as equipment. Intangible income Microsoft Google Ads Free software and hardware Techshare Pro Venue & Catering 50.000 85.549 50.000 85.549 26,300 87.621 26,300 87,621 95.792 95.792 82.500 82,500 35.604 35.604 266.945 266.945 196.421 196,421 -25-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activities IT solutions IT solubons for disabled for disabled people people 2023 2022 Fees from services provided Event income 3,968,656 5,275,861 156,226 131,931 4.124,882 5,407,792 Event income irTcludes Techshare Pro £156.226 (2022: £131.931). Investments Unrestricted Unrestricted funds fvnds 2023 2022 Interest receivable 66,852 11,268 -26-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activities 2023 2022 Staff and subcontractor costs Depreciation and impairment Equipment and direct project costs Staff development and recruitment Professional membership Rent and rates Telephone Motor expenses Travel and subsistence Printing and postage Office facilities and services Connectivity costs Miscellaneous expenses Advertising and PR Consultancy Irrecoverable VAT Event costs 3,459,925 3,731 ,682 27,783 27,451 140,430 147,148 11,553 35,204 4,117 4,341 176,631 237,005 4,064 5,582 31,987 20,362 27,999 19,433 6,123 2,839 73,690 52,776 65,350 62,259 12,046 11,176 132,654 161,087 74,788 108,289 2,441 4,119 128,029 113,157 4,379,610 4,743,910 Share of support costs (see note 7) Share of governance costs (see note 7) 817,893 820,829 27,750 18,000 5,225,253 5,582,739 Analysis by fund Unrestricted funds Restricted funds 5,156,433 5,525,498 68,820 57,241 5,225,253 5,582,739 -27-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs SupportGoVernce costs 2023 Support Governan (x)sts costs 2022 Staff and subcontractor costs Depreciation Staff development and recruitment Insurance Bank charges Netsuite charges Irrecoverable VAT Legal and professional fees Connectivity costs Other support costs 571.137 20.749 571.137 548,493 20.749 33.020 548,493 33,020 8.075 24.710 2.525 38.110 915 8.075 24.710 2.525 38.110 915 13,914 22,380 3,107 36,982 1.038 13,914 22,380 3,107 36,982 1,038 1.262 76.482 73.928 1.262 76.482 73.928 4,912 70,964 86.019 4,912 70,964 86,019 Audit and accountancy 27.750 27.750 18,000 18,000 817.893 27.750 845.643 820.829 18,000 838,829 Analysed between Charitable activities 817.893 27.750 845.643 820.829 18,000 838,829 The Charity identffies all costs associated with its support and governance functions and allocates them entirely to the one charitable actrvity of IT solutions for disabled people. Audit and accountancy includes audit fS of £25.OCK) (2022: £15,500) and £2,750 (2022: £2,500) In respect of assistan with the preparation of the financial statements. In addition, fees were paid for the provision of payroll services of £5,894 (2022 £4,200). Board None of the Board (or any persons connected with them) reiVed any remuneration during the year, and no trust claimed expenses during the current or prior year. -28-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Pension and other post-retirement benefit commitments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension o)st charge represents contributions payable by the charity to the fund. Contributions payable by the company for the year were £176,693 (2022: £160,516). The expense has been allo(xted to unrestricted expenditure on the same basis as wages and salaries. 10 Employees The average monthly number of emploYS during the year was: 2023 Number 2022 Number IT solutions for disabled people Support staff 75 76 Total 83 84 Employment and subcontractor costs 2023 2022 Wages and salaries Social security costs Other pension costs 3,245,936 3,073,189 309,193 307,659 176,693 160,516 3,731,822 3,541,364 299,240 738,811 Subcontractor costs 4,031,062 4,280,175 -29-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employees (Continued) The key management personnel of the Charity comprise the senior management team as detailed in the trustees. annual report. Subcontractor costs are shown separately in note 10. The total employee benefts including pension contributions and employers National Insurance costs of key management personnel was £647,646 (2022: £678,866). The highest paid member of the senior management team reiVed benefits of £155,304 (2022: £145,456). The number of employees whose annual remuneration was £60,000 or more were: 2023 Number 2022 Number £60,000 to £69,999 £70,000 to £79,999 £80,000 to £89,999 £90,000 to £99,999 £100,000 to £109.999 £120,000 to £129,999 £130,000 to £139,999 -30-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Tangible fixed assets Assessment Office assets equipment Total Cost At 1 January 2023 Additions Disposals Transfer between categories 191.553 201,947 393,500 29,452 29,452 (27.903) (107,334) (135,237) (17.530) 17,530 At 31 December 2023 146.120 141,595 287,715 Depreciation and impairnient At 1 January 2023 Depreciation charged in the year Eliminated in respect of disposals Transfer between categories 129,643 177,923 307,566 31.462 17,070 48,532 (31.112) (103,578) (134,690) (14.231) 14,231 At 31 December 2023 115.762 105,646 221 ,408 Carrying amount At 31 December 2023 30.358 35,949 66,307 At 31 December 2022 61.910 24,024 85,934 The net book value of fixed assets held under finance lease at the year end is £nil (2022: £11,499). 12 Debtors 2023 2022 Amounts falling due within one year Trade debtors Other debtors Prepayments and accrued income 178,371 38,051 172,215 325,904 49,428 312,334 388,637 687,666 31
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Creditors: amounts falling due within one year 2023 2022 Obligations under finan leases Other taxation and social security Trade creditors Other creditors Accruals and deferred income 14 5,153 274,387 73,926 49,192 959,895 162,256 71,902 45,885 1.339,530 1,619,573 1,362,553 14 Finance lease commitments Future minimum lease payments due under finan leases: 2023 2022 Within one year 5,153 Finance lease payments represent payments made by the Charity for the acquisition of tangible fixed assets. The term is for 36 months. Payments are made monthly with an effective interest rate of 2.77 % 15 Deferred income 2023 2022 Balance as at 1 January 2023 Amount released to income Amount deferred in the year 858,729 696,934 (1,103,210)(1,167,763) 1,507,711 1,329,558 Balance as at 31 Dember 2023 1 ,263,230 858,729 Deferred income consists of Servi agreements invoiced in advance of the service being provided. Deferred income forms part of accruals and deferred income in note 13 above. -32-
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ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Analysis of net assets betWn funds Unrestricted Restiicted funds funds 20Z3 2023 Tota Unreskncted Restricted fvnds fvnds 2022 2022 Total 20Z3 2022 Fund balances at 31 December 2023 are represented by". Tangible assets Current assetsl (liabilities) 66.307 66.307 85.934 85,934 1.564.339 3.016 1.567.355 2.209.902 8,252 2,218,154 1.630.646 3.016 1.633.662 2.295.836 8,252 2,304,088 -34-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Operating lease commitments At the reporting date the charity had outstanding commitments for future minimum lease payments under nOn-(2nllab1e operating leases. which fall due as follows: 2023 2022 Within one year Between two and ftve years 40,171 183,605 223,776 19 Related party transactions There were no disclosable related party transactions during the year (2022 - none). 20 Cash generated from operations 2023 2022 (Deficit)Isurplus for the year (670,426) 144,958 Adjustments for". Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (66,852) (11 ,268) 48,532 60,471 Movements in working capttal: Decreasel(increase) in debtors Increase in creditors 299,029 262.173 (51,859) 122,669 Cash (absorbed by)Igenerated from operations (127,544) 264,971 -35-
ABILITYNET (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Analysis of changes in net funds At1 January 2023 Cash flows At31 December 2023 Cash at bank and In hand 2.893.041 (94,750) 2,798,291 Obligations underrinan leases (5.153) 5,153 2.887.888 (89,597) 2,798,291 -36-