2023-03-31-accounts - Aspire ( Association For Spinal Injury Research Rehabilitation And Reintegration )

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ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Registered Company No. 03744357

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

C O N T E N T S

	Pages
Reference and Administrative Details	1
Chairman’s Report	2
Report of the Trustees	3 - 20
Independent Auditor’s Report to the Members	21 - 23
Consolidated Statement of Financial Activities	24
Consolidated Balance Sheet	25
Charitable Company Balance Sheet	26
Consolidated Cash Flow Statement	27
Notes to the Consolidated Financial Statements	28 – 38

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Reference and Administrative Details

PRESIDENT	J Inverdale
VICE PRESIDENTS	A Bloom
	A H Lambert
	A Jones
	A Sparkes
	J R Tattersall
CHAIRMAN	Dr S Patel
VICE CHAIRMAN	N Flanagan
CHIEF EXECUTIVE	B Carlin MBA
TRUSTEES & DIRECTORS	Dr H Agha
	R Burrell
	A Chaplin
	N Flanagan
	S Gardiner
	C J Leach
	H Mehta
	Dr S Patel
	J Sacks
	J Wautier
	R Wilmot
CHARITY NUMBER	1075317 – England & Wales
	SC037482 – Scotland
COMPANY NUMBER	03744357
BUSINESS ADDRESS	Aspire National Training Centre
	Wood Lane
	Stanmore
	Middlesex HA7 4AP
REGISTERED OFFICE	2nd Floor, Regis House
	45 King William Street
	London EC4R 9AN
AUDITORS	Azets Audit Services
	2nd Floor, Regis House
	45 King William Street
	London EC4R 9AN
BANKERS	CAF Cash Limited
	Kings Hill
	West Malling
	Kent ME19 4TA
	Metro Bank
	One Southampton Row
	London WC1B 5HA
SOLICITORS	BDB Pitmans LLP
	One Bartholomew Close
	London EC1A 7BL

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Chairman’s Report

It is my pleasure once again to present the annual report and accounts.

The challenges facing the charity sector in the last year has been regularly reported as the ‘triple impact’, increasing demand on services, falling levels of donations and rising costs of operating. These are and have been incredibly challenging times for charities and I’m immensely proud of how the staff at Aspire have risen to these challenges and continue providing vital services and support our beneficiaries.

We developed a 3-year recovery strategy, following the pandemic, to rebuild and expand our services, re-establish our fundraising capability and to stabilise and strengthen our finances. With our services truly facing their highest demand, we were quick to react and expand our services in key areas. With improved access to patients in spinal injury centres throughout the country, our Independent Living Advisors are now engaging with clients at almost the same levels as pre-pandemic. Our Assistive Technology Services have been introduced to the Oswestry Spinal Injury Centre and the London Major Trauma Centres and General Hospitals and throughout the South East of England.

Through the support of funding from NHS Improvement, we were able to re-introduce our Housing Advice Service in January 2022 and have supported 187 clients. 90% of our clients saw their physical housing situation improve after working with our team. The funding from NHS Improvement has also enabled us to introduce patient education administration into as many spinal centres as possible. Our service has been extended to carry our research into the effectiveness of patient education and also measure the knowledge and confidence patients have in managing their condition post discharge. This information is now being fed back to the NHS to help improve patient education even further.

In our last accounting year, our Welfare Benefits Advice service experienced a 20% increase as it supported 395 clients and helped them to recover £768,271 of benefits that would have otherwise been denied our clients. Most recently, the service has been recognised with AQS Accreditation (Advice Quality Standard).

The Aspire Leisure Centre is steadily recovering from the pandemic with membership and activity now over 90% of pre-pandemic levels. Restricted funding has been secured to support several areas of refurbishment within the Centre. After almost fourteen years, our pioneering and multi-award winning InstructAbility programme has come to an end. The InstructAbility inclusion standards have now been adopted by many of the national Contract Leisure Management organisations and Training providers with CIMSPA (Chartered Institute for Management of Sports and Physical Activity) embedding the standards within their accreditation criteria. Although the Aspire IntructAbility programme has come to an end, its legacy will continue. We have embedded the vision and the practice which will continue to improve inclusiveness standards in the leisure industry for customers and staff.

The Aspire Centre for Rehabilitation Engineering & Assistive Technology (Aspire CREATe) has now completed its ten-year agreement with University College London (UCL) and the Royal National Orthopaedic Hospital NHS Trust (RNOH Trust) and has achieved more than is possible to give recognition to in my report. This is another enormously successful long-term programme which leaves a huge legacy and will continue to harness technology and innovate for the benefits of our customers. Most recently, Aspire CREATe received the prestigious award from the International Emerging Technology Award for its pioneering research in the use of virtual reality in the treatment of chronic neuropathic pain. We are excited to continue working with UCL and the RNOH Trust on the continued development and success of Aspire CREATe.

Whilst the general charity sector is reporting declining donations, Aspire has enjoyed one of its most successful fundraising years. Restricted income increased by almost 100%, whilst our fundraising events produced one of its best net contributions to Aspire in over ten years.

We continue to review and enhance the governance processes to ensure we meet all the legal, regulatory and good governance requirements. To this end the Articles of Association have been updated. There has also been significant changes in the composition of the Board with the appointment of a new Vice Chair and the recruitment of five new Trustees. I’m enormously proud to say that we have a group of Trustees who are dedicated and have a wide range of experience and skills.

Our three-year recovery strategy has been fully achieved as we now take stock of our current situation, review our options and opportunities, and set out our vision for the future. We’ve worked with the senior managers at Aspire and undertaken a comprehensive strategic review and will soon be publishing our strategy for the next five years, to 2028. It’s a complex and challenging environment, but we are excited about the future and the increasing impact we can have on the lives of those paralysed by spinal cord injury.

This is my last report as Chair of the Board of Trustee of Aspire and it has been my absolute pleasure and honour to serve Aspire and our beneficiaries. I wish to thank my fellow Trustees for the time they commit to fulfilling their responsibilities and for the collective work they do in supporting the Leadership Team and staff of Aspire. I also thank our remarkable staff for their continued dedication to their work and the passion with which they rise to the challenge of increasing demand. And, of course, to thank our many benefactors for their kindness and generosity and our volunteers who give up their free time in support of our activities.

I will leave with a new five-year strategic plan setting out our future ambitions in the knowledge that there is clear direction for our future. I wish Aspire every success in the future.

Dr S Patel – Chair

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

The Trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, have pleasure in presenting their report and financial statements for the year ended 31 March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.

The financial statements have been prepared in accordance with accounting policies set out in notes to the accounts and comply with the Charity’s governing document, the Companies Act 2006, the Charities Act 2011, provisions of the Charities Act 2022 in force at the time of preparing these accounts, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Charitable Objectives

Aspire exists to provide practical help to people paralysed by spinal cord injury, supporting them from injury to independence.

Aspire was founded in 1983 to work with people with spinal cord injury to create opportunity, choice and independence through its activities in rehabilitation, reintegration and research. Its office is in Stanmore in Middlesex, alongside the London Spinal Injury Centre at the Royal National Orthopaedic Hospital Trust (RNOH).

Aspire fulfils its objectives through three key areas of work, namely, rehabilitation, reintegration and research.

Rehabilitation

Aspire provides practical support to people with spinal cord injuries from the time of their injury through to discharge from a Spinal Injury Centre and onwards for the rest of their lives. Aspire has developed a range of services, which it believes offers individuals a nurturing and rehabilitative environment that will enable them to achieve their full potential. It is Aspire’s aim to deliver and build on these services throughout the UK.

Aspire provides Independent Living Services that include highly trained spinal cord injured Independent Living Advisors who work in almost all of the specialist Spinal Injury Centres throughout the UK. They are there to support patients from the earliest stages of rehabilitation and to help advise on a wide range of topics to support living independently once discharged from hospital.

Patient education in the Spinal Centres is supported by Aspire Patient Education Administrators who work to ensure the highest quality and consistency of provision for patient education. Our Patient Education staff also undertake assessments of patient knowledge and understanding in managing their condition pre and post discharge. Aspire aims to ensure no patient is unnecessarily readmitted to hospital due to the development of a secondary complication due to a lack of understanding of managing their condition.

The Aspire Assistive Technology Services operate in five of the Spinal Injury Centres and provide patients, with limited or no upper limb function, help to access their smart phone, tablet or computer. Trained with this technology, patients can stay connected with family and friends and develop skills to continue with education or return to work, or just stay connected with the world.

Reintegration

Aspire provides a range of practical services to support people with a spinal cord injury to reintegrate into society and lead a fulfilled and independent life.

Aspire provides fully furnished temporary accessible homes for those waiting to be discharged from hospital so that they may be reunited with their family and start living their life again whilst waiting for a permanent home to be made available. The expansion of this service has been the primary strategic objective at Aspire since 2001 to support the discharge needs of spinal injury patients through the provision of our Housing Programme. Housing Case Management Services was introduced in recent years to support those living in unacceptable and inaccessible accommodation.

Our Welfare Benefits Advice Service ensures that spinal cord injured people are receiving the benefits that they are entitled to receive whilst also being offered the support of our Money Matters Service, which provides guidance on personal money management.

Aspire Your Fund provides a tax efficient method of fundraising in support of spinal cord injured people to help them purchase specialist equipment they would otherwise not be able to afford therefore providing them with greater independence for everyday living.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

The Aspire Leisure Centre was Europe’s first fully inclusive leisure centre for disabled and non-disabled people. The first phase of the centre’s development officially opened in 1990, with the second phase opening in 1998 and is the showpiece of the Charity’s unique approach to breaking down the barriers between non-disabled and disabled people. As well as state-ofthe-art rehabilitation, physiotherapy and occupational therapy suites, the centre offers a large range of sporting, dance and leisure activities, all of which are run on an inclusive basis – where non-disabled and disabled people can take part side-byside. The centre enjoys approximately 400,000 active visits each year, with 32% of membership and approximately 28% attendance by disabled customers.

The Aspire multi award-winning innovative project, InstructAbility, was developed to train disabled people to become fitness professionals with a twelve-week supported work placement. It works with Sport England and the industry membership organisations to create a lasting change of true equality for disabled employees and customers. Our aim is to create a UK leisure industry where disabled people are made to feel more welcome whether as a professional or service user.

Research

Aspire has, from its inception, been excited by the possibilities of technology. The Charity is determined that people with spinal cord injuries should benefit from the cutting edge of new developments in this field. To that end, Aspire has invested over £3 million in support of our Aspire Centre for Rehabilitation Engineering & Assistive Technology (Aspire CREATe) since 1996 through University College London (UCL) and the Institute of Orthopaedics and Musculo-Skeletal Science, based at RNOH Stanmore. This research centre focuses on the development of cost effective and practical technologies that can improve the lives of disabled people and the outcome of treatment through the use of improved technology.

Strategies for achieving those objectives

Aspire will continue to manage relationships with housing associations in key geographical locations, already identified, to maintain our fully accessible housing stock. Aspire will work in partnership with the housing associations toward new build projects and present a case to gain access to existing housing stock where reasonably practicable.

We have forged strong relationships with the occupational therapists at all Spinal Injury Centres where our Assistive Technology facilities have been placed. We are now working with the NHS East of England group to support spinal cord injured patients. We continue to work with and report to our funders, who support our programme, to ensure they are kept informed of all developments and benefits to the spinal injury community and maintain an understanding of the latest technological developments. Our programme is delivered by highly skilled professionals in five of the nine Spinal Centres and several hospitals in London. We host an annual conference which is attended by representatives from all the Spinal Injury Centres to share our knowledge and demonstrate the latest technological developments.

A national service of Aspire Independent Living Advisors provides practical support and advice on living life with a spinal cord injury. They ensure newly injured patients are informed of all the services available to support them and of the practical solutions to problems that Aspire and other charities and organisations can provide.

Aspire will undertake constant reviews and assessments of our fundraising throughout the year to ensure we achieve the most effective and efficient fundraising results. Aspire is currently working to a fundraising plan to ensure our fundraising can meet the additional services we plan in the future. The Fundraising and Marketing Committee continually monitors this work to ensure compliance with our annual plan and budgets.

Following the impact of the pandemic, we developed a three-year strategy that would first focus on re-establishing stability in our financial position and to steadily work to reintroduce our Housing Advice service whilst securing funding to expand our work with patient education. Our current strategic focus is to ensure our services continue to support as many beneficiaries as possible whilst strengthening our financial position to ensure Aspire’s longevity. An agreement secured in January 2022 with NHS England will ensure Aspire can work to improve the delivery and effectiveness of patient education and support many hundreds of spinal cord injured people who are currently living in inappropriate and inaccessible housing.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

How objectives link to longer term strategies and objectives

Our Aspire Services department is the spearhead of our national outreach programme and takes the Charity out into the community, nationwide. Our objectives are set to ensure that there is an increasing awareness of Aspire and its services by multidisciplinary spinal cord injury professionals, newly injured patients and the general spinal injury community. Direct links with each and every Spinal Injury Centre will also help Aspire communicate with more people with spinal cord injuries directly. The success of our Aspire Independent Living Advisors provides a familiar face to this increased presence and essential guidance to Aspire Services on the most appropriate support and help needed.

Evidence indicates that one of the greatest issues facing Spinal Injury Centres and patients is the ability to be discharged to an accessible home at the end of the rehabilitation process and for patients to get back on with their life. One in five patients are discharged to care homes. During the course of the pandemic, almost all patients were discharged to care homes. This may be the most appropriate accommodation for a minority of patients, but it is certainly not for the majority. Patients, once discharged to a care home, can face a residency period of one to six years. During this time they will live in a single room and be prevented from being reunited with their family in their own home and not able to enjoy the freedom and independence we all take for granted. For the 59% of patients discharged to their own homes almost all will be attempting to live in an un-adapted home where living conditions can be very limiting and extremely challenging.

Our housing programme supports patients being discharged to a temporary home whilst action is taken to prepare a permanent home. The additional benefits are that our properties promote independence, can accommodate a live-in carer and family, if necessary, whilst this service also ensures a specialist bed in a Spinal Injury Centre can become available for a newly injured patient at the earliest opportunity. Our Housing Case Management Service ensures that those not living in an Aspire House or suitable accessible home can be supported by us to ensure we help them to secure a fully accessible home.

Aspire aims to ensure our Housing Programme supports every Spinal Injury Centre throughout the UK.

Our Assistive Technology provides patients with internet access to stay in touch with family and friends worldwide, keep up to date with the outside world and independence activities such as shopping to banking online. This technology embraces our ethos and helps to maintain independence and supports those with limited or no upper limb function. This service is currently provided in five Spinal Injury Centres and other London Hospitals. We will aim to expand this service to additional centres in the future as well as through outreach into the community where possible.

	Objective	Outcome
10	Aspire Leisure Centre 1. To achieve budget. 2. To maintain QUEST Prime accredi- tation (December 2022). 3. To achieve annual Mystery Visit score of at least 80% average over the year. 4. To achieve annual Health & Safety audit score of over 90% (December 2022). 5. Work with trusts manager to apply for funding for sports hall floor, en- ergy saving items, gym door entry and lockers. 6. Increase and maintain occupancy levels at; Gym 50%, Pool 80% and Classes 70%, from April 2022. 7. Maintain Swimschool occupancy above 90% across all 3 terms. 8. Reduce utility consumption (Gas 10%, Electricity 10%, Water 7%). 9. Re-start the leisure service commit- tee meetings. 10. Use marketing budget and measure return on investment.	1. £86k less income was generated than budget, resulting in a £31k net underperformance. 2. QUEST Prime accreditation was completed and passed. at 77%. 3. The annual Mystery visit score of 77% was achieved. Just 3% lower than target with specific areas that will be targeted for improvement. 4. The Health & Safety Audit score was a disappointing 73%. We are fo- cusing on addressing the areas where we did not score well to improve for the next audit. 5. A total of £18k was secured, which enabled us to replace the FES Bike tablet and provide training, acquire sports equipment, resurface the sports hall floor, purchase a new hand bike and electric changing ta- ble. 6. General activity in the centre has not returned to the levels as antici- pated with lower occupancy throughout the year at; Gym 32%, Pool 60%, Classes 40%. 7. Swimschool occupancy was maintained at 93%. 3% higher than tar- get. 8. Utility consumption levels during the year were; Water reduced by 66% (in part due to meter fault), Gas reduced by 9% and Electricity in- creased by 7%. 9. The Leisure Centre Committee was re-instated in June 2022. 10. Budget being spent on Google reviews. 4.5 stars 270 reviews. Janu- ary Sale direct mail was not able to be tracked. Social media paid for advertising generated 3% increase in followers and 30% increase in account engagements.

A significant factor affecting our plans, which is outside of our control, relates to the acquisition of new houses as part of the Aspire Housing Programme. Changes in government policy for housing associations can have a detrimental effect on their interest and ability to offer Aspire any of their housing stock. It can also diminish our opportunities through a reduction in new build projects in which we can participate.

Public benefit statement

The purposes and activities of Aspire include the advancement of health among those who have incurred a spinal cord injury, academic research designed to assist such persons, the provision of recreational facilities for people in special need because of their disability and the provision of financial help and specialised housing, training, advice and other facilities for those in need of them for the same reasons. The Trustees take the view that the purposes and activities fully comply with the public benefit requirement as set out in the Charities Act 2011 and explained in the Charity Commission’s guidance on Public Benefit. Aspire’s services are open to all spinally injured persons regardless of age, sex, marital status, sexual orientation, ethnicity, nationality, place of residence, financial circumstances, social class, political opinions and religious belief. So Aspire’s main beneficiaries, of whom there are potentially a significant number, can properly be regarded as a ‘section of the public’ in charity law. In addition, as part of the activities which benefit spinal injured people, Aspire also provides help and support for their families and members of the public generally. The Trustees strongly believe that assisting spinally injured people to become independent and reintegrate into the community provides social enrichment for the community itself and helps it to be more cohesive.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

FINANCIAL REVIEW

Principal Funding Sources of the Charity

Aspire’s total income increased by £157k in the last year to just under £3.6m. The furlough scheme ended in the prior year therefore contributed nil this year, however £117k was recognised in the prior year. Donations and Trust income increased by 59% to just over £1m. Charitable Activity income increased by £116k, but this is still over £550k below pre-pandemic (2019/20) levels. The Aspire Leisure Centre continued to be affected by the impact of the pandemic with a slower than anticipated return to activity levels and finished the financial year £86k down against budget. Aspire Housing Rental income has remained consistent with the previous year, as the team work to maintain housing occupancy at our normal percentage. Other Trading, which comprises Aspire Fundraising Limited income, was consistent with the previous year. The Joint Ventures (Aspire Law LLP and Aspire Wealth + Management Ltd) contributed a total of £199k this year, down £227k from last year. Aspire Law LLP made a £100k dividend payment again this year shown in ‘Other Income’, below.

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Principle Funding Sources
2019/20
2020/21
2021/22
2022/23
0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000
£'000
Donations and Trusts Charitable Activities Other Trading Joint Venture Furlough Scheme Other Income
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Figure 1 Principal Funding Sources for the year ended 31 March 2023

Fundraising Income

Total fundraising income increased by £268k, to a total of just under £1.7m. General fundraising through our Trading Subsidiary (Other Trading) was similar to the previous year. Trust and Foundation income increased by £327k on the previous year. This was a strong performance and almost a 100% increase on the previous year.

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Fundraising Income
0 200 400 600 800 1000 1200 1400 1600 1800 2000
£,000
2019/20 2020/21 2021/22 2022/23
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Figure 2 Fundraising Income for the year ended 31 March 2023

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Charitable Income

Our income from Charitable Activities continued to recover this year following the adverse impact of the pandemic. The Aspire Leisure Services income improved by 9% to just under £1.2m, which is still over £500k lower than pre-pandemic income levels with 250 members continuing to freeze their membership and not return to the leisure centre. Aspire Housing rental income remains consistent with previous years as we continue to manage to retain our normal occupancy levels.

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Charitable Income
Aspire Housing
Aspire Leisure Services
0 200 400 600 800 1000 1200 1400 1600 1800
£,000
2019/20 2020/21 2021/22 2022/23
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Figure 3 Total Charitable Income for the year ended 31 March 2023

Total Cost of Fundraising

The total cost of fundraising had a modest increase in cost with the increase being the return of face-to-face fundraising events. Total cost of fundraising remained 20% less than pre-pandemic 2019/20 expenditure.

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Total Cost of Fundraising
0 100 200 300 400 500 600 700
£,000
2019/20 2020/21 2021/22 2022/23
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Figure 4 Total Cost of Fundraising for the year ended 31 March 2023

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Charitable Expenditure

Our total charitable expenditure increased by just over 4% to £3.13m. We increased our capacity within Welfare Benefits Advice to match increasing levels of demand. Our Assistive Technology, Housing Programme and Independent Living Advisor services increased capacity and whilst the Aspire Leisure Centre returned to normal operating services, overall operating costs decreased due to change in percentage re-allocations.

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Charitable Expenditure
Wefare Benefits
Campaigning
Assistive Technology
Independent Living
Aspire Grants
Aspire Housing
Research
Aspire Leisure Services
0 200 400 600 800 1000 1200 1400 1600 1800
£'000
2019/20 2020/21 2021/22 2022/23
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Figure 5 Charitable Expenditure for the year ended 31 March 2023

Aspire Law LLP

Aspire invested in a Joint Venture with the legal firm, Moore Barlow LLP, to create Aspire Law LLP – a unique social enterprise that represents spinal cord injury claimants only. This highly specialist legal firm places its clients at the heart of the business. It provides a comprehensive service that aims to secure the highest value settlement for their claim in the most appropriate timeframe, therefore allowing them to get on with their life. This service is provided on a ‘No Win, No Fee’ basis, with our clients receiving 100% of their award and Aspire Law’s costs being funded by the third party. Aspire owns 50% of Aspire Law LLP, through the trading subsidiary Aspire Trading 2014 Limited, and contributes 50% of the operating cost. In line with the agreement, Aspire Law LLP donates 50% of all its operating profits to Aspire to allow us to provide a wealth of services to benefit the vast majority of spinal cord injured people who do not benefit from the support of a compensation claim. Aspire Law contributed £177k (2022: £426k) profit share to Aspire this year as well as providing over £100k sponsorship to Aspire Services. A report is included in the earlier section under Performance Summary Objective 9.

Aspire + Wealth Management Limited

Aspire has worked in partnership with Independent Financial Advisor Frenkel Topping to form a new joint venture, Aspire + Wealth Management Limited, launched in April 2020. This is a highly specialist financial service providing spinal cord injured clients with an expert service to invest the compensation settlement amounts to provide for clients’ needs throughout their lives. Aspire owns 50% of Aspire + Wealth Management Limited, through the trading subsidiary Aspire Trading 2020 Limited, and in line with the agreement, Aspire + Wealth Management Limited donates 60% of all its operating profits to Aspire. This year Aspire + Wealth Management Limited contributed £22k (2022: £nil) to Aspire, which was 60% of its accumulated profits as it was the first year the contribution was recognised as they were previously immaterial. Aspire + Wealth Management is the current corporate sponsor of Aspire’s Money Matters service.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Investment policy and returns

Aspire operates an investment policy to achieve the maximum possible return at the lowest level of risk. We aim to ensure that investments grow in value, in line with the rate of inflation, whilst providing a modest return on the original capital invested whilst also meeting our ethical investment policy. Due to the reduction in cash being held by the Charity, we currently only hold £13k, which is invested in the CCLA Investment Fund.

Reserves Policy

Aspire’s reserves are £1,117k representing Unrestricted Funds (£1,378k) less Tangible Fixed Assets (£242k) and Designated Funds (£19k). See note 13 of the Notes to the Financial Statements.

Aspire manages its cash flow through its net current assets, income and expenditure and funding available to it. The Trustees have reviewed the general reserves policy of Aspire and have considered the financial requirements needed to support the work of the Charity and to protect against future potential risks. In the opinion of the Trustees, the reserves are sufficient for Aspire’s needs, however, the Trustees’ long-term aim is to increase the reserves and, in particular, to increase the component backed by liquid assets, such as cash, to enhance the flexibility of its cash management.

Risk Management

The Trustees have examined the major risks which the Charity faces and confirm that systems have been established so that the necessary steps can be taken to manage those risks.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

Accreditation to recognised national standards including Quest and Best Companies.
External auditing of Quality Management and Health & Safety Systems.
A full risk register and risk policy, which is reviewed every six months.
Full competitor and external threat analysis for all services.
An annual budget with full supporting business plans approved by the Trustees.
Regular consideration by the Trustees of financial results and forecasts, variances from budgets and non-financial performance.
Quarterly reporting and assessment of operational plans and objectives that have been agreed and set for the year.
• Delegation of authority and segregation of duties.
On-going investment in the development of the professional knowledge and capability of staff.
A 3-Year Strategic Recovery/Rebuild plan 2022/24.

The key risks identified by Aspire in 2022/23 were:

Pandemic Risk – the pandemic may still impact the delivery of our services in Spinal Cord Injury centres. On-going risk is also to the health and well-being of staff.
Financial Risk – demand for our services continues to grow and this will place even greater demand on our finances in the future. Global events in 2022 have had a material impact on all of our purchases, especially gas and electricity costs for operating the Aspire Leisure Centre. Rising inflation and the cost-of-living crisis can impact our staff, fundraising and Aspire Leisure Centre customers.
Government Policy Changes – changes in social housing and welfare benefits have a major impact on our beneficiary group and as a result an increase in demand for our services. Tight budgets for care provision can affect the amount and quality of care provided to spinal cord injured people.

The above risks will be considered by the Trustees and the leadership team throughout the next financial year, but the risks presented by the cost-of-living crisis, rising inflation and increased utility costs, will be the major focus for 2023 onwards. A comprehensive risk register, quality systems, policies and controls have already been established to mitigate any such risks.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Going Concern

The Trustees have considered the impact of the cost-of-living crisis, rising inflation and increases in utility costs on the future viability of the charitable company and the expected level of income and expenditure for the 12 months from the date of authorising these financial statements. The projected income and expenditure of the charitable company together with the level of its resources is sufficient for the charitable company to be able to continue as a going concern.

The Trustees continue to take all the available steps to maintain sufficient resources in order that the charitable company can continue and, based on projections and available information, the Trustees have a reasonable expectation that the charitable company will have sufficient funds to continue to meet its liabilities as they fall due for the foreseeable future and therefore have prepared the financial statements on a going concern basis.

Plans for 2023/24

	Objective
1	Independent Living 1. Improve communications with Spinal Centres; engage regularly with key contacts, ensure feedback is provided on the support provided by Aspire, and seek opportunities to be involved with work they are undertaking.
2	Patient Education 1. Promote work in remaining Spinal Centres where we currently do not have staff; seek to secure involvement and recruit to those posts. 2. Develop and deliver training and support to peer volunteers employed by Spinal Centre Patient Education Pro- grammes. 3. Review all evidence gathered during pre- and post- discharge monitoring of the Patient Education Programmes andidentifykey trends and areasfor improvement.Seektoinfluence changewhererequired.
3	Welfare Benefits 1. Complete accreditation process. 2. Subject to funding, increase staffing resources to enable us to better meet demand for the service.
4	Aspire Housing Programme 1. Review the Aspire Housing Programme, including impact, financial risk, and efficiencies that can be made to how the service is delivered. Make recommendations for short and longer-term changes. 2. Seek opportunities to work with other Spinal Centres and/or hospitals through our Housing training, ensuring NHS staff have up to date knowledge in key housing pathways. Deliver sessions with at least three clinical teams.
5	Assistive Technology 1. Complete pilot project with the Royal Sussex hospital, training their staff in delivering Assistive Technology train- ing. Monitor impact and evaluate outcomes. Make recommendations for future support at the Royal Sussex and the feasibility of using this model at other sites. 2. Work with the Spinal Hubs in the East of England to, subject to funding, introduce an Assistive Technology ser- vice to their patients. 3. Introduce a User Panel for testing new technology; seek funding required, recruit participants, make use of panel as and when appropriate and ensure findings are produced in a suitable way for distributing key information to staff, hospitals and other interested parties.
6	InstructAbility 1. Aim to conclude the current funded project by June 30th 2023. In agreement with Sport England the research will conclude with a final report in October 2023. 2. Achieve a total of 500 digital downloads of the Guides by June 2023 and disseminate 500 hard copies. 3. Deliver online workshops to 50 people from training provider or sport/leisure organisations. Undertake an in depth 6-month engagement with 4 organisations to embed guidance at all levels within their organisation. 4. Research Aim 1 (Guide dissemination), Research Aim 2 (Guide impact) and Research Aim 3 (COVID-19 impact) • Survey all willing individuals who have accessed the guidance and collate responses. Complete two weeks and four weeks follow-up surveys. Recruit and interview 30 participants from sub-sample of ‘downloaders/Guide takers’. • For Research Aims 2 and 3, conduct initial 30 interviews and six observations with second follow-up by February 2023. • Conduct final interviews and observations by September 2023. • Analyse all remaining data, complete final report and other output documentation by October 2023.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Plans for 2023/24 - continued

7	Aspire Research 1. Pursue funding to increase/maintain our PhD student and research associate cohorts. 2. Fifth set of PhD students expected to complete their research in 2023. 3. Maintain the number of active projects and if possible, increase the current number by actively pursuing new collaborations and submitting new grant proposals. 4. Maintain publication rate. 5. Continue to deliver our MSc programmes. 6. Continue to contribute to outreach activities (talking to schools, public events, open days, etc.).
8	Fundraising 1. To raise a total of £1mk in unrestricted income. With careful control of costs, this will deliver an 8% increase in profit taking us from £449k profit to £532k. 2. Development of the following new initiatives: To raise £20k of donation income from The Big Give, £15k of in- come from a London – Amsterdam cycle ride, £10K of income from a skydive and £20k of income from new Night Swim events. The total cost to Aspire of these projects to be no more than £20k. 3. To return The Aspire Channel Swim to profitability and re-establish it as a viable event. Working closely with lei- sure service providers we aim to sign up 1,700 swimmers, raising a total of £170k and delivering a profit of £84k. 4. To raise over £400k from our open water swim portfolio, delivering a profit of £249k. We will maintain this level of income by continuing to develop swimming events, building on the Sealand Swim, The Solent, Scilly Isles and developing a new series of Night Swims. The portfolio of swims, outside the Relay Channel swims is targeted to deliver £125k of income and £73k profit. 5. London Sports Quiz Dinner for April 2023 to raise £120k and deliver a profit of £56k. To relaunch the Sports Quiz Dinner in Manchester raising a further £29k of income, with a modest profit of £6k. 6. To deliver a total of £600k in grant funding and restricted income from corporate partners across all Aspire Services (including Lottery and NHS Grants already agreed).
9	Aspire Law 1. Aspire Law to work to maintain consistent client numbers by acquiring new clients to match the number of cases concluding. 2. Aspire Law to fulfil the objectives of the three-year strategy launched in November 2021. 3. Establish Aspire Law main office at the London City location and relocate staff. 4. Continue and extend our important sponsorship of charity services and work with Aspire to identify a new possible support role for the London Major Trauma Centres.
10	Aspire Leisure Centre 1. Achieve the budget set. 2. Maintain Quest accreditation. 3. Work towards pre-pandemic levels of membership (1,500 Premier Members). 4. Maintain disabled membership at 32%. 5. Achieve average audit score (quality and Mystery visits) of 80%. 6. Achieve Health & Safety Audit score of 80%. 7. Reduce utility consumption (Water 5%, Gas 5%, Electricity 5%). 8. Achieve NPS survey score above 50. 9. Apply for funding to replace the sports hall roof. 10. Achieve £5k fundraising target.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

Aspire would like to thank the following trusts and foundations for their support of our work during the last year:	Aspire would like to thank the following trusts and foundations for their support of our work during the last year:
Blakemore Foundation	The Childwick Trust
Bruce Wake Charitable Trust	The Christopher Laing Foundation
C A Redfern Charitable Foundation	The Eveson Trust
Chapman Charitable Trust	The Frank Litchfield General Charitable Trust
Chartered Accountants Livery Charity	The Hobson Charity
City Bridge Foundation	The Hospital Saturday Fund
Doctor and Mrs Alfred Darlington Charitable Trust	The James Tudor Foundation
DVS Foundation	The Lawson Trust
Garfield Weston Foundation	The Liz and Terry Bramall Foundation
Hedley Foundation	The Moondance Foundation
Jaspar Foundation	The National Lottery Community Fund
Morrisons Foundation	The Noble Charitable Trust
Shanly Foundation	The Samuel William Farmer Trust
The Access Foundation	The Sir George Martin Charitable Trust
The Albert Gubay Charitable Foundation	The Sovereign Health Care Charitable Trust
The Barbour Foundation	The Steven Bloch Image of Disability Charitable Trust
The Charles & Edna Broadhurst Charitable Trust	The W O Street Charitable Foundation
Pilkington Charities' Fund	The Hodge Foundation
P F Charitable Trust	Wheelwrights' Charity
The Grace Trust	The Zachary Merton and George Woofindin
The Souter Charitable Trust	Convalescent Trust

Aspire would also like to thank the following people and organisations for their support:

Aspire Law LLP John Inverdale Zoggs International Ltd Rob Nothman EY Parthenon Alan Bloom Frenkel Topping Wellspect Healthcare Coloplast Active Assistance Cyclone Mobility Fittleworths R3 Aspire + Wealth Management Ltd Antony and Caragh Barnes

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

GOVERNANCE Constitution

Aspire is a registered charity, number 1075317 and is also a company limited by guarantee, registered company number 03744357. The Charity is also registered with the Office of the Scottish Charity Regulator ‘OSCR’ with registered charity number SC037482.

Trustees

The Trustees who served during the year were as follows:

Dr H Agha R Burrell (appointed 29 April 2022) A Chaplin N Flanagan S Gardiner (appointed 29 April 2022) D Holden (resigned 24 March 2023) C J Leach (appointed 29 April 2022) H Mehta Dr S Patel J Sacks J Wautier (appointed 3 October 2023) R Wilmot (appointed 15 September 2023)

None of the Trustees had an interest in any contract or arrangement of a material nature during the year under review.

Methods for recruiting and appointing Trustees

The Trustees select members to join the Trustee Board that will complement and strengthen the existing professional expertise and competencies of the board. A ‘Key Skills’ analysis is undertaken to identify any skills/experience/knowledge gaps on the Trustee Board before undertaking a specific recruitment process. The Trustees also welcome expressions of interest from candidates who have served a minimum of one year as a committee member supporting the work of the Charity.

Policies and procedures for inducting and training Trustees

During the recruitment process, a new Trustee receives a full induction to the organisation including Aspire’s history, ethos, culture and vision for the future. Further to this a meeting is arranged with the Chief Executive Officer and Directors of the Charity at the Aspire Leisure Centre, when a tour of the facilities is given, and a more detailed explanation is provided regarding the Charity’s activities. Trustees are provided with necessary information about support and advice prepared by the Charity Commission. Trustees are also invited to attend seminars and conferences that may be deemed appropriate and where they are not able to attend, one Trustee will provide an update and feedback to the Board from any events attended.

Organisational structure and how decisions are made

The Aspire Board of Trustees is ultimately responsible for ensuring the Charity’s strategic direction and the actions of its employees. This responsibility is discharged through the Chief Executive Officer. The Trustee Board meet every three months to review performance against agreed operational and financial targets and, in addition to this, attend exceptional meetings to review and develop the Charity’s strategy. During the peak of the COVID-19 pandemic, meetings were held fortnightly to ensure increased levels of engagement by the Trustee Board at a time of uncertainty. Each activity area of Aspire’s work is closely monitored by committees that include at least one Trustee who will chair the committee. Each committee will invite external experts and advisors to assist in the monitoring and evaluation of these activities and to help in the longer-term development. The committees all meet prior to each and every Trustee meeting when reports are presented. Issues that require Trustee decisions are presented at the meeting where the Board will debate and agree what action is appropriate. Each decision is communicated through the Chief Executive Officer and recorded in the minutes of the meeting.

In addition to this, regular meetings are held by the Vice-Chairman and the Chief Executive Officer to monitor the Charity’s performance and governance. Monthly meetings are held between the Chair and the Chief Executive Officer.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Report of the Trustees

----- Start of picture text -----
Aspire Organisational Structure Aspire Board of Trustees
March 2023
Aspire Law LLP
CEO Aspire Research
Aspire + Wealth Management Ltd
Finance & Services Fundraising & Aspire Leisure
HR Marketing Services
Housing Assistive Welfare Patient
Technology Benefits Education
----- End of picture text -----

A 3-year strategy was developed and launched at the beginning of 2022 to set out how Aspire will rebuild, following the impact of the pandemic, and then stabilise and return to growth in the following two years This plan is supported by a twoyear cashflow forecast, which is reviewed quarterly.

Wider network and/or relationship with affiliated organisations

To communicate and advance the work of Aspire we work with other charities and organisations to ensure the most effective means of operating and delivering our services. Aspire has signed a memorandum of understanding with the two other major spinal injury charities. This memorandum was launched in 2019 and aims to: ensure each of the charities know what they are working to achieve, give support where necessary, seek opportunities for collaboration and avoid any duplication of service activity.

Aspire is a member of MASCIP (Multidisciplinary Association of Spinal Cord Injury Professionals).

Personnel and Staff Movements

The Trustees and the leadership team comprise the key management personnel of the Charity in charge of directing and controlling and operating the Charity on a day-to-day basis. The leadership team consists of the Chief Executive Officer, Director of Fundraising and Marketing, Director of Services, Director of Operations, Finance Manager and Leisure Centre Manager. All Trustees give of their time freely. No remuneration was paid to any of the Trustees, neither were any expenses claimed.

No key management personnel resigned during the financial year. The Charity uses charity sector benchmarks to assess and set the remuneration of the key management personnel and always aims to pay median market rates.

Statement of Trustees’ Responsibilities

The Trustees 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 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 the incoming resources and application of resources, including the income and expenditure of the charitable company for the year. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation

ASSOCtATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Thè Trusteès 8 responsible for keeping alequate arAnting records that disclose, reasonable aGcuiacy at any time, the fin8nGI81 position ofthe ¢th8rrt8e cornpany and enable Ihem to ensure that the finanoal statements cornply the Companies Act 2(K. They are also re5pwsible for safLIardIng the assets ofthe tharitab company and hen for taking reasonable stèps for the prevention and defrfjbon of fraud arKI other irregvlaribes. In so frdr as the Trustees are aware.. there is no ielevant audit inf(YmatKJn ofvthK the tharitsble compary's a¢Jthtor is unaware," arKI e Tnjstees have taken all steps th they ought to have tsken to me theMSeeS avrdre of any levant audrt information and lo establish that the audrtor is aware of that infomati(m. The Trustees a responsible for the maintenarK and integrity of the (X>[rate and financial infomiation induded on the charitable company's ¥%ebsite. Legislation in the Unlted lfjngdom goveming the preparab.cn and dissernination of finanaal statements may drffer from legls1atx in Otherjurisdthm. Audito A re501uhon for the r&appo¢'ntment of Azets Audr( seN1 as alitorS to the cthaTilabJe (xxnpany VAII i subrnrtma to the Annu81 Gener81 Meèb"ng. This port has been prepared in ac(x)rdarKE Wth the Staternwt of RrnMended Practice. Accounting and Reporhng by Charities, and in ac£ordance with the spec4al Provisions of Part 15 of the Companies Act 2Q relng to smaller entities. By Order ofthe Board Nick Flanagan, Tru & Treasurer Date.. 20

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Independent Auditor’s Report to the Members

Opinion

We have audited the financial statements of Association for Spinal Injury Research Rehabilitation and Reintegration (the ‘charitable parent company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheet, Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the group’s and of the charitable parent company’s affairs as at 31 March 2023 and of the group’s incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Independent Auditor’s Report to the Members

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Trustees’ Report, which includes the directors’ report and strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report included within the Trustees’ Report have 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 group and charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

adequate 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 trustees 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 directors’ report included within the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable parent company for the purposes 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 group’s and the charitable parent company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable parent company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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

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

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Independent Auditor’s Report to the Members

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the charitable parent company through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

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

John Howard FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor 2nd Floor, Regis House 45 King William Street London EC4R 9AN

Date: 30 January 2024

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Consolidated Statement of Financial Activities

For the year ended 31 March 2023

Unrestricted Restricted Funds Funds Notes £’000 £’000 INCOME FROM: Donations and Legacies 2 409 609 Charitable activities Aspire Leisure Services 1,186 - Aspire Housing 365 50 Other trading activities 3 667 - Share of surplus from joint ventures 2.3 199 - Other income 2.2 100 - __ _ Total income 2,926 659 _ __ EXPENDITURE ON: Raising funds Cost of generating voluntary income 198 - Costs of trading subsidiary 3 348 - Charitable activities Aspire Leisure Services 1,429 210 Research 107 - Aspire Housing 585 164 Aspire Grants 167 - Promoting Independent Living - 153 Assistive Technology - 154 Welfare Benefits 94 60 Capital grants funding - 2 _ _ Total expenditure 4 2,928 743 __ _ NET EXPENDITURE AND NET MOVEMENT IN FUNDS BEFORE GAINS AND LOSSES ON INVESTMENTS (2) (84) Transfer between funds (52) 52 Gains on revaluation of investments 7.2 - - _ __ NET MOVEMENT IN FUNDS (54) (32) RECONCILIATION OF FUNDS Total funds brought forward 1,432 656 _ _ Total funds carried forward 12,13 1,378 624	Total 2023 £’000 1,018 1,186 415 667 199 100 __ 3,585 _ 198 348 1,639 107 749 167 153 154 154 2 _ 3,671 __ (86) - - _ (86) 2,088 _ 2,002	Total 2022 £’000 756 1,085 400 661 426 100 __ 3,428 _ 170 309 1,731 135 638 229 87 90 82 1 _ 3,472 __ (44) - 1 _ (43) 2,131 _ 2,088

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes on pages 28 to 38 form part of these financial statements.

ASSOCIAMON FOR SFYNAL INJURY RESEARCH REHA8IUTAnoN AND REllEGRATK)N 'ASPIRE' Consolidated Balance Sheet As at 31 March 2023 2023 2022 £'(h)o £'ooo Fixed assets Tangible fixed assets Investments 242 1,216 1.039 1.347 Current assets Slcck Debtots falling due after more than one y Debtois falling due wthin one year Cash 8nd sh equivalents 7(X) 217 700 285 443 1.272 1,431 Creditors: AnK)unts falliThJ due within one year 10 15511 {491} Net current assets 721 Total assets less current liabilities 2.179 2.287 Creditors: Amounts falling due after more than one year 11 11771 11991 l(K)2 2,088 Funds Restiicted funds Unrestricted fijnds 12 13 656 1,432 1,378 2.2 2,088 The finanaal statements have been prepad in ac£OrdarKEIth the swxat ProonS of Part 15 ofthe CompanEs Act 2006 relating to small entitEs. The finanaal st8tem8ntswere approved by the Bowd on 26 January 2024 and signed on their behalt by- Nl¢k Flanagan, T Tmsurer The rb)les cm pw 2810 38 frym part of tw finarKd 5tstwnts 25

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILATION AND REINTEGRATION 'ASPIRE' Charitable Company Balan Sheet As at 31 March 2023 2023 2022 £'ooo Flxed assets Tangible fixed a£sets Investments 242 308 63 371 Current assets Debtors Cash and cash equivalents 1,110 138 177 1.020 1,248 Cre(litOTS". Ajnounts falling due wrthin one year 10 I2) 13081 Net current assets 721 Totsl assets lèss currènt laabilrtiÈs 1.026 1,311 Creditors". Amounts falling ¢Jue after mo than one year 11 1177) 11991 1,112 Funds Restricted funds Unrestrited fvnds 12 13 24 225 S56 456 1,112 The ffn8nty815talements have been prep3r&Y actdan the provis[rS of Part 15 ofthe Companies Act 2006 relating to small entsts"es. The financial statements were approved by Ihe Board on 26 January 2024 and signed on tr*ir t£h3lf ty". Nick Flanagan. Tru 26 292 26

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Consolidated Cash Flow Statement

For the year ended 31 March 2023

Reconciliation of net expenditure to net cash flow from operating activities Net expenditure for the reporting period Adjustments for: Gain on investments Share of surplus from joint ventures Depreciation Decrease in stock Decrease/(increase) in debtors Increase in creditors Net cash flow from operating activities	2023 £’000		£’000 (86) - (177) 70 - 68 38 (87)	2022 £’000	£’000 (43) (1) (426) 69 - (91) 214 (278)
Cash flow statement Net cash flow from operating activities Cash flow from investing activities Payments to acquire tangible fixed assets Net cash flow from investing activities Decrease in cash Reconciliation of changes in cash Balance at 1 April 2022 Decrease in cash Balance at 31 March 2023	(4)		(87) (4) (91) 443 (91) 352	(20)	(278) (20) (298) 741 (298) 443

The notes on pages 28 to 38 form part of these financial statements.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

1. ACCOUNTING POLICIES

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

a) Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, provisions of the Charities Act 2022 in force at the time of preparing the accounts, the Companies Act 2006 and UK Generally Accepted Practice.

Aspire meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are presented in sterling (£) which is also the functional currency for the Charity.

b) Consolidation

Where control is exercised by the parent charity over another entity, those entities are consolidated as subsidiaries on a line-by-line basis in accordance with FRS 102 – section 9 and the Charities SORP (FRS 102). Details of these entities are given in note 7 to the financial statements.

The Charity’s interest in joint ventures and joint arrangements are accounted for in accordance with FRS 102. The investments in Aspire Law LLP and Aspire + Wealth Management Limited are treated as joint ventures within the consolidated financial statements and are accounted for using the gross equity method. Details of these interests are given in note 7 to the financial statements.

A separate statement of financial activities for the charitable company has not been presented because the charitable company has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

c) Preparation of the accounts on a going concern basis

The Trustees have considered the impact of the cost of living crisis, rising inflation and increases in utility costs on the future viability of the charitable company and the expected level of income and expenditure for the 12 months from the date of authorising these financial statements. The projected income and expenditure of the charitable company together with the level of its resources is sufficient for the charitable company to be able to continue as a going concern.

d) Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements are:

Useful economic lives of tangible assets and the annual depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the property plant and equipment together with note 1 for the useful economic lives for each class of assets. There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

1. ACCOUNTING POLICIES - continued

e) Legal status
Aspire is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1.
f) Funds accounting Restricted funds – these are funds that can only be used for specific restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds – these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

g) Income

All income is 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 policies are applied to particular categories of income:
Voluntary income including core grants, sponsorship, donations and gifts is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant.
Incoming resources from charitable activities comprises income from carrying out the Charity’s activities, including the operation of the National Training Centre and the supported housing.
Investment income is included when receivable.

h) Expenditure

Expenditure is accounted for on an accruals basis. The irrecoverable element of VAT is included with the item of expense to which it relates.
Costs of generating funds are those costs incurred in attracting voluntary income.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those incurred in the governance of the Charity and are primarily associated with constitutional and statutory requirements.

i) Support costs allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs cannot be directly attributed to particular departments, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

j) Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

1. ACCOUNTING POLICIES - continued

k) Tangible fixed assets

Depreciation on all tangible fixed assets is calculated to write-off their cost over their estimated useful lives at the following annual rates:

Leasehold improvements 3 - 20 years Office fixtures & fittings 10 - 33% per annum on cost Computer equipment 33% per annum on cost

l) Fixed asset investments

Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

Investments in subsidiaries and programme related investments are measured at cost less impairment. Such investments are subject to review with any diminution in value is charged to the Statement of Financial Activities.

Programme related investments are social investments made directly in pursuit of the Charity’s charitable purposes.

m) Stock

Stock is stated at the lower of cost and net realisable value.

n) Debtors and creditors receivable/payable within one year and after one year

Debtors and creditors with no stated interest rate and receivable or payable within one year and after one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

o) Cash and cash equivalents

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

p) Financial Instruments

The Charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

q) Foreign Currency

Foreign currency transactions are initially recognised by applying the foreign currency amount at the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

r) Employee benefits

Short term employee benefits, including holiday entitlement and other non-monetary benefits, and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

s) Taxation

The Charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

2. VOLUNTARY INCOME Donations and Legacies Unrestricted Restricted Funds Funds Donations 405 144 Grants received 4 465 Job retention scheme - - __ ____ 409 609	2023 £’000 549 469 - ______ 1,018	2022 £’000 526 113 117 ______ 756

The amounts receivable from the job retention scheme was claimed by the charitable company for staff that were furloughed due to COVID-19.

2.2. OTHER INCOME

Unrestricted Restricted Funds Funds Dividend receivable from Aspire Law LLP 100 - __ _ 100 - _ __ 2.3. SHARE OF SUPLUS FROM JOINT VENTURES Unrestricted Restricted Funds Funds Share of surplus from Aspire Law LLP 177 - Share of surplus from Aspire + Wealth Management Ltd 22 - _ _ 199 -	2023 £’000 100 __ 100 _ 2023 £’000 177 22 ___ 199	2022 £’000 100 __ 100 _ 2022 £’000 426 - ___ 426

3. OTHER TRADING ACTIVITIES - SUBSIDIARY UNDERTAKING OF ASPIRE FUNDRAISING LIMITED

The profit of the subsidiary undertaking, Aspire Fundraising Limited, is gifted to the Charity so that there is no liability to Corporation Tax for that entity. Aspire Fundraising Limited produces audited accounts annually to 31 March and a summary of the company’s transactions and financial position is set out below:

Turnover Cost of sales Operating costs Operating profit Interest received Net income of trading subsidiary Distributions to parent made under gift aid Retained in subsidiary	2023 £’000 667 (128) __ 539 (220) _ 319 - ___ 319 (319) __ - ____	2022 £’000 661 (110) __ 551 (199) _ 352 - ___ 352 (352) __ - ____

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

4. EXPENDITURE Staff costs £’000 Raising funds: Cost of generating voluntary income 158 Costs of trading subsidiary 83 Charitable expenditure: Aspire Leisure Services 1,001 Research 107 Aspire Housing 222 Aspire Grants - Promoting Independent Living 119 Assistive Technology 127 Welfare Benefits 134 Capital grant fund - ______ 1,951	Direct costs £’000 27 265 337 - 507 167 28 26 20 - ______ 1,377	Support £’000 13 - 301 - 20 - 6 1 - 2 ______ 343	Total 2023 £’000 198 348 1,639 107 749 167 153 154 154 2 ______ 3,671	Total 2022 £’000 170 309 1,731 135 638 229 87 90 82 1 ______ 3,472

All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, for example, time spent, per capita or floor area.

Grants paid to individuals during the year totalled £166,835 (2022: £230,354).

Included in support costs are governance costs of: Auditor’s remuneration: - For audit - For other services 5. STAFF COSTS	2023 £’000 22 8	2022 £’000 10 15

Wages and salaries Social security costs Pension contributions Recruitment	2023 £’000 1,772 115 62 2 ______ 1,951	2022 £’000 1,558 96 55 4 ______ 1,713

None of the Trustees received any remuneration or benefits during the year (2022: none). Expenses totalling £nil were reimbursed to Trustees during the year (2022: £nil).

The number of employees whose annual emoluments were £60,000 or more were: 90,001 – 100,000	1	1

Total contributions in the year for the provision of money purchase benefits for higher paid staff were:

Number of staff to whom retirement benefits are accruing Total contributions in the year	1 £18,106	1 £16,012

The total aggregate remuneration paid to key management personnel during the year was £307,369 (2022: £278,153).

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

5. STAFF COSTS - continued

The average number of employees during the year was as follows:

6.

Group Charity 2023 2022 2023 Aspire Leisure Centre 67 55 67 Other 35 31 35 Trading subsidiary 5 6 - _ _ _ _ 107 92 102 __ _ _ TANGIBLE FIXED ASSETS Leasehold Fixtures, Fittings and Group and Charity Improvements Computers £’000 £’000 Cost At 1 April 2022 774 571 Additions - 4 __ _ At 31 March 2023 774 575 _ __ Depreciation At 1 April 2022 539 498 Charge for the year 64 6 _ _ At 31 March 2023 603 504 __ _ Net Book Value At 31 March 2023 171 71 _ ______ At 31 March 2022 235 73	Group Charity 2023 2022 2023 Aspire Leisure Centre 67 55 67 Other 35 31 35 Trading subsidiary 5 6 - _ _ _ _ 107 92 102 __ _ _ TANGIBLE FIXED ASSETS Leasehold Fixtures, Fittings and Group and Charity Improvements Computers £’000 £’000 Cost At 1 April 2022 774 571 Additions - 4 __ _ At 31 March 2023 774 575 _ __ Depreciation At 1 April 2022 539 498 Charge for the year 64 6 _ _ At 31 March 2023 603 504 __ _ Net Book Value At 31 March 2023 171 71 _ ______ At 31 March 2022 235 73	2022 55 31 - _ 84 _ Total £’000 1,345 4 __ 1,349 _ 1,037 70 ___ 1,107 __ 242 ____ 308
	__

In the opinion of the Trustees the building comprising the Aspire Leisure Centre has a £nil value due to it being sited on land leased from the Royal National Orthopaedic Hospital and hence subject to certain restrictions. On this basis the building and certain associated equipment have been shown in the accounts of Aspire at a cost of £nil, being depreciated cost less capital grants received.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

7. INVESTMENTS Group 2023 2022 £’000 £’000 Shares in subsidiary undertakings - - Programme related investment (note 7.1) 50 50 Other investments (note 7.2) 13 13 __ _ 63 63 Investment in joint venture: Share of net assets in Joint Venture 1,153 976 _ __ 1,216 1,039 _ _	Charity 2023 2022 £’000 £’000 - - 50 50 13 13 __ _ 63 63 - - _ __ 63 63 _ _

Aspire is the beneficial owner of 10 ordinary shares of £1 each being the whole of the issued share capital of Aspire Fundraising Limited, a company incorporated in England, company registration number is 02448398, registered office is 2nd Floor Regis House, 45 King William Street, London, EC4R 9AN.

Aspire is the beneficial owner of 1 ordinary share of £1 each of Aspire Trading 2014 Limited, a company incorporated in England on 27 January 2014, company registration number is 08863046, registered office is 2nd Floor Regis House, 45 King William Street, London, EC4R 9AN. Aspire Trading 2014 Limited is a holding company which holds an investment in a joint venture consisting of 50% control in Aspire Law LLP.

Aspire is the beneficial owner of 1 ordinary share of £1 each of Aspire Trading 2020 Limited, a company incorporated in England on 13 January 2020, company registration number is 12398051, registered office is 2nd Floor Regis House, 45 King William Street, London, EC4R 9AN. Aspire Trading 2020 Limited is a holding company which holds an investment in a joint venture consisting of 50% control in Aspire + Wealth Management.

7.1 PROGRAMME RELATED INVESTMENTS Group and Charity Cost as at 1 April Additions at cost Cost as at 31 March	2023 £’000 50 - ______ 50	2022 £’000 50 - ______ 50

The programme related investment relates to initial funding required in the set-up of Aspire Law LLP. The value of the programme related investment at the year end is shown at cost. Aspire Law LLP furthers the objectives of Aspire by providing a specialist service to people with spinal cord injuries.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

7.2 OTHER INVESTMENTS Group and Charity Market value at 1 April Additions at cost Proceeds on disposal Gain on revaluation Market value at 31 March Historical cost at 31 March CCLA	2023 £’000 13 - - - __ 13 _ 10 ___ 13 ______	2022 £’000 12 - - 1 __ 13 _ 10 ___ 13 ______

Other investments are held by CCLA Investment fund.

8. STOCK Goods for sale 9. DEBTORS Amounts falling due within one year: Trade debtors Other debtors Amounts owed by subsidiaries Amounts owed by joint venture – Aspire + Wealth Management Ltd Prepayments and accrued income	Group 2023 £’000 3 Group 2023 £’000 3 9 - 11 194 217	2022 £’000 3 2022 £’000 11 26 - 11 237 285	Charity 2023 2022 £’000 £’000 - - Charity 2023 2022 £’000 £‘000 - - 9 26 737 922 - - 97 162 843 1,110

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

9. DEBTORS - continued Amounts falling due after more than one year: Amounts owed by joint venture Total debtors	Group 2023 £’000 700 700 917	2022 £’000 700 700 985	Charity 2023 £’000 - - 843	2022 £’000 - - 1,110

In July 2019 it was agreed with the Aspire Law LLP’s joint venture partners that £700,000 would be converted into capital. As a result, £700,000 was re-designated in July 2019 from debtors falling due with within one year to debtors falling due after more than one year.

10. CREDITORS:Amounts falling due within one year Trade creditors Other creditors Other taxes and social security costs Accruals and deferred income 11. CREDITORS:Amounts falling due after more than one year Other creditors		Group 2023 2022 £’000 £’000 157 85 4 2 36 33 354 371 551 491 Group 2023 2022 £’000 £’000 177 199 177 199	Charity 2023 £’000 122 4 36 137 299 Charity 2023 £’000 177 177		2022 £’000 71 2 33 202 308 2022 £’000 199 199

Other creditors due after more than one year represents loan notes which mature in 2024. There are two loans; one for £100,000 and one for £99,000. If the £100,000 loan is not paid when due, interest on the unpaid amount shall start to accrue at the rate of 6% per annum. The £99,000 loan has an interest rate of 2% per annum. If this loan is not paid when due, interest on the unpaid amount shall start to accrue at the rate of 4% per annum. The £100k loan has been reduced by £22k in the year to £78k as at 31 March 2023.

12. RESTRICTED FUNDS Group and Charity Aspire Housing Fund Independent Living Fund Welfare Benefits Assistive Technology Fund Capital Grants Fund InstructAbility Programme (Sports England) Patient Education Fund NHS England REX Bionix Fund	Balance 1 April 2022 £’000 581 25 - - 3 18 12 16 1 ______ 656	Income Expenditure £’000 £’000 - (106) 139 (153) 60 (60) 135 (154) - (3) 160 (142) 15 (26) 150 (99) - - __ ____ 659 (743)	Investment Gain and Transfers £’000 - 13 - 39 - - - - - ______ 52	Balance 31 March 2023 £’000 475 24 - 20 - 36 1 67 1 ______ 624

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

12. RESTRICTED FUNDS - continued

(i) Aspire Housing provides fully accessible homes in the local community in key locations in England, Wales and Scotland for newly discharged patients. Spinally injured individuals can temporarily live in a specially adapted and fully accessible comfortable environment on their own or with their family whilst arrangements are made to meet their long-term housing needs. The Charity is extremely grateful to the P F Charitable Trust, The Souter Charitable Trust and the Bruce Wake Charitable Trust. Thomas Gibson and supporters of the Harebell Appeal.
(ii) The Independent Living Fund has been supported by grants from The Moondance Foundation, The Childwick Trust, The National Lottery Community Fund, Pilkington Charities' Fund, The James Tudor Foundation, The Barbour Foundation, The Noble Charitable Trust, The Charles & Edna Broadhurst Charitable Trust, The W O Street Charitable Foundation, the Jaspar Foundation, The Frank Litchfield General Charitable Trust, The Liz and Terry Bramall Foundation, The Sir George Martin Charitable Trust and The Sovereign Health Care Charitable Trust and sponsorship from Aspire Law LLP. This money is given in support of employing Independent Living Advisors who provide direct practical support, information and guidance to new spinally injured patients and for the management of the team of Independent Living Advisors.
(iii) The Welfare Benefits Fund has been supported by The Garfield Weston Foundation, for the second year of a two-year period, the City Bridge Foundation, The Grace Trust and The Lawson Trust. The Charity is extremely grateful to Aspire + Wealth Management and the Chartered Accountants Livery Charity for supporting the Money Matters Service.
(iv) The Assistive Technology programme provides specialist computer equipment, software and training support to teach people with a spinal cord injury with limited or no upper limb function to operate a computer. This service is provided through occupational therapy departments and dedicated rooms to give patients valuable access to the internet and permits communication with family, friends and work colleagues worldwide. The Charity is extremely grateful to have been supported by generous grants from the Ian Karten Charitable Trust, The Moondance Foundation, The Hodge Foundation, The Eveson Trust, Doctor and Mrs Alfred Darlington Charitable Trust, The Steven Bloch Image of Disability Charitable Trust, The Zachary Merton and George Woofindin Convalescent Trust, the Shanly Foundation, The Access Foundation, The Christopher Laing Foundation, The Samuel William Farmer Trust and the Morrisons Foundation and Aspire Law LLP.
(v) The Capital Grants Fund represents grants received for the purchase of tangible fixed assets and is released at a rate consistent with the depreciation charged on these assets.
(vi) The Charity is extremely grateful to the National Lottery Sport England Fund for their continued support of the InstructAbility Programme throughout the pandemic when the next phase of the programme was unable to progress. The InstructAbility Programme supports the training of disabled people to become fitness professionals throughout England. The new phase of the programme will move to launch guidance for the sector owners/managers, training providers and disabled people.
(vii) The Patient Education Fund provides support funding for the Aspire Patient Education Administrators who support the spinal cord injury centres in the management of their patient education programmes. The Charity is extremely grateful to the Moondance Foundation for supporting the Charity’s work in Cardiff and to the Hospital Saturday Fund for their support in England.
(viii) NHS England grant of £450k over a three-year period has been awarded to Aspire to support the NHS Improvements Spinal Cord Injury Services work. This funding will support our Aspire Housing Advice Service, Community Support and Patient Education.
(ix) The REX Bionix Fund was set up to help raise funds in support of purchasing a REX Bionix Exoskeleton Robotic Unit.

ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION

‘ASPIRE’

Notes to the Financial Statements

For the year ended 31 March 2023

13. UNRESTRICTED FUNDS Group Designated Funds Your Fund Other Aspire – other reserves Aspire Law LLP Aspire Wealth Management Ltd Charity Designated Funds Your Fund Other Aspire – other reserves Aspire Wealth Management Ltd	Balance 1 April 2022 £’000 134 __ 134 323 975 - _ 1,432 ___ 134 __ 134 322 - ____ 456	Income £’000 50 __ 50 2,677 177 22 _ 2,926 ___ 50 __ 50 2,329 22 ____ 2,401	Expenditure £’000 (165) __ (165) (2,763) - - _ (2,928) ___ (165) __ (165) (2,415) - ____ (2,580)	Investment Gain and Transfers £’000 - __ - (52) - - _ (52) ___ - __ - (52) - ____ (52)	Balance 31 March 2023 £’000 19 __ 19 185 1,152 22 _ 1,378 ___ 19 __ 19 184 22 ____ 225

Designated Funds form part of Unrestricted Funds and are amounts set aside by the Trustees to meet specific future requirements of the organisation. Further details of the funds are shown below:

(i) Your Fund delivers the same function as Aspire Grants but allows benefactors to raise money and donate for specific purposes.

14. ALLOCATION OF NET ASSETS

The net assets of the Group are held for the various funds as follows:

Restricted Funds Unrestricted Funds	Fixed Assets Investments £’000 £’000 - 1,216 242 - __ ____ 242 1,216	Current Assets £’000 (592) 1,864 ______ 1,272	Current Liabilities £’000 - (551) ______ (551)	Long term Liabilities £’000 - (177) ______ (177)	Total 2023 £’000 624 1,378 ______ 2,002	Total 2022 £’000 656 1,432 ______ 2,088

15. RELATED PARTY TRANSACTIONS

There are no (2022: none) related party transactions that require disclosure in the financial statements.

16. ULTIMATE CONTROLLING PARTY

The charitable company is considered to have no ultimate controlling party.