ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION Aspire REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Company No. 03744357 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' CONTENTS Pages Reference and Administrative Details Chaimian's R8POrt Report of the Trustees 3-19 Independent Auditorfs R8POrt to the Members 20-22 Consolidated Ststement of Financial Actmties 23 Consolidated Balanc8 Sheet 24 Charitable Company Balan￿ Sheet 25 Consolidated Cash Flow Ststement 26 Notes to the Consolidated Financial Statements 27-38 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Reference and Administrative Detalls PRESIDENT J Inv8rdale VICE PRESIDENTS A Bloom A H Lambort A Jones A Sparkes Dr Saroj Patel J R Tattersall CHAIRMAN J Wautier VICE CHAIRMAN N Flanagan CHIEF EXECUTIVE B Cadin MBA TRUPJTEES & DIRECTORS A Chaplln N Flanagan S Gardiner H Mehta J Sacks J Wautier R Wilmol Dr P Thumbikat CHARITY NUMBER 1075317 - England & Wales SC037482- S¢otland COMPANY NUMBER 03744357 BUSINESS ADDRESS Asplre Leisure Centre Wood Lane Slanmore Middlesex HA7 4AP REGISTERED OFFICE Aspire Leisure Centre Wood Lane stanmora Middlesax HA7 4AP AUDITORS A2ets Audit SeN1￿$ 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 SHA SOLICITORS BDB Pitmans LLP One Bartholomew Close London EC1A 7BL ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Chaimian's Rèport In March 2024, the former Chair of Aspire Board of Trustees. Dr Saroj Palal, retired after more than thirteen years on the Board, and five of those as Chair. On behalf of Aspire and the Board of Trustees, I wish to publidy thank Saroj for her remarkable contribulion throughout her years of Trusteeship and l am delighted to say that sh& continues to maintaln her relationship wilh Aspire as a newly appointed Vice President. DurSng the last year, data from the NHS National Spinal Cord Injury database has identified that there ar¢ tsvi¢e as many splnal cord injuries in the UK Ihan previously believed. This mear6 that every hours, som60ne Is paralysed by a splnal cord injury in Ihe UK. The dats also identified that approximately Iwo thirds of newly injured patients never reach a specialist spSnal cord injury rehabilitation ￿ntre. If anything, Ihls horrifying slatistic should mobilise us even more and it is not surprising that Aspire has seen growing demand on all of its seNices whilst experiencing signrficant increases in operating costs and battling in a hlghly compotltSve fundraising market. Aspire launch6d a new flve year strategy in March 2024 with the overarching aim of reaching 25% more spinal cord injured people with high qualty seNices through SLthinable growih underpinned by a strengthening of our liquid cash reserves. Considerable progress has already been made with the introduction of our Assisllve Technology Servi￿ inlo the London Hospitals. Funding has also been se￿red to introduce this service into Addenbrook&s Hospilal, Cambridge, from January 2025. Further. a generous grant from the Motability Foundation has allowed us lo reintroduce our Aspire Grants programme SUPPK)rting splnal o)rd Injured people in their purchas8 of specialisl mobility equipment. that they would otheNlse be unable to afford, to Improve IheSr independence. On the leisure centre front, a successful granl application to the Swimming Pool Support Fund has enabled th8 installation of solar panels that will not only reduce our carbon footprint, bul also save Aspire approximately £27k a year on electricity (xjsl. And most recently, I'm delighted thal a joint funding application belween Aspire and the Spinal Injuries Assoclalion (SIA) secured just under £500k from the National Lottery. The Aspire share of thè grant wlll Increas8 our vStal Welfare Benefits SeNice capacity by 25•A and support some of the existing cost of our Houslng Adv1￿ Service. Last year. our Welfare Benefits SeNice re¢DVer￿ over £800k in benefits that would have oth6Nise been denied our clients. Our Housing Advice SeNic8 SUPPOrted almost 200 clients, living in inac£essible accommodation, move inlo suilable pemanent accK)mmodation. We will continue to commit wholeheartedly to clos8 collaboration and working partnwships with our fellow spinal cord injury charities as we all try and g81 togeth8r for our beneficSarles. The future is full of challeng8s wlth the Govemmenl's change to employers. national insurance o)ntributK)ns addlng an additional £1.4bn (x)st lo the charity sector, and an extra tax to Aspire of £55k. Wè will remain focused on the oblecllves within our five year strategy whllst doubling down on all efforts to build greater capa¢ity to support those In ne8d and strengthen our financial position. I wish to thank all the Trusts and Foundations for their continuing support and the amazlng fundraisers, volunteers and donors who ensure we raise the essential funds in support of our work. And thank you to the slaff of Aspire for their compasslon and dedicalion to their work as well as to my fell¢)w Truste8s, who so selflessly give of their time $0 freely. J Wautler- Chalr ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of Ihe Trustees The Trust*s, who are also directors of the charitable company for the purposes of the Companies Act 2006, have pleasure in pr￿entIng their r8POrt and financial statements for th8 year ended 31 March 2024. The Trustees have adopted the provisions of the Statement of Recommended practi￿ {SORP) 'Accounting and Reportlng by Charities. IFRS 102) in preparing the annual report and financial statements of Ihe Charity. The financial statements have been prepared in aC￿rdan￿ with accnunting policies Sel out in notes lo the accounls and comply wilh the Charity's governing document, Ihe Companies Act 2(rfJ6. the Charities Act 2011, provisions of the Chariiies Act 2022 in force at the time of preparing these aC￿unIs, and Accx￿ntlng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their ac(f)unts in ac(x)rdance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). Charltable Obfrctives Aspire exists lo provide practical help to people paralysed by spinal cor(i injury. supporting them from injury to independence. Aspire was founded in 1983 to work with people with spinal cnrd injury to creale opportunity, choice and independence through its activilies in rehabilitation. reintegration and research. Its office is in Stanmore in Middlesex, alongside the London Spinal Injury Cenlre al the Royal National Orthopaedic Hospital Trust {RNOH). Aspire fulfils its obl￿tIveS Ihrough three key areas of work, namely. rehabilftation, reiniegration and research. Rehabilltatlon Aspire provides practScal support to people with spinal cord injurles from the time of their injury through lo discharge from a Spinal Injury Centre and onwards for the rest of their lives. Asplre has developed a range of services, which it believes offers individuals a nurturing and r8habilitatlV8 environment that will enable them to achiev8 their full potent181. It is Aspire's aim to (ieliver and build on these ¥eTviGes Ihroughout the UK. Aspire provides Independent Living Services that Include highly trained spinal cord inlured Indep8ndent Living Advisors who work in almost all of the specialist Spinal Injury C8ntres throughout the UK. They ar8 there lo support patients from the earliest stages of rehabilitation and to hélp advise on a wide range of topics to support living independently once discharged frorn hospital. Patient education in Ihe Spinal Centres is supp¢yted by Aspir6 Palient Education Administrators who work lo ensure the highest quality and consistency of provision for patient education. Our Pattent Education staff also undertake assessments of patient knowledge and understanding in managing their condition pre and wst discharge. ￿pIre alms to ensure no patient is unnecessarily readmitted to hospital due to the development of a secondary complication due to a lack of understsnding of managing their cx)ndition. The Aspire Asslstive Technology servi￿ operdte in five of the Spinal Injury Centr8s and provide patients. with limited or upper limb function, help to access Iheir smart phone, tablet or computer. Trained with this technology. patienls can stay nnected with family and friends and develop skills to continue with education or relum to work, or just slay connected with the world. Relntegration Aspire provides a range of practical services to support people with a spinal cord injury to ￿Integrate into society and lead a fulfilled and independent life. Aspire provides fully fumished temporary accessible homes for those wailing to be discharged from hospital so Ihat they may be reunited with their family and start living their lrfe again whilst wailing 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 wa5 introduced in recent years to support those living in unacceptable and inaccessible accommodation. Our Welfare Benefits Advice Service ensures that spinal cord injurgj people are ￿CeIvIng the benefits that Ihey are enti118d to receive whilst also being offered the support of our Money Matters Service, whith provSdes guidance on personal money management. Asplre Your Fund provides a tax efficlent method of fundralsing in support of spinal cord injL*red p80ple lo help them purchase specialist equipment they would otherwise nol be able to afford therefore provlding them with greater independence for everyday living. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustses 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 openaj in 1990, with the sècond phase opening in 1998 and is the showpiece of the Charity's unique approach lo breaking down the barriers between non4isabled and disabled people. As well as stal&of- the-art rehabilitstion, physiolherapy and occupational therapy suites. the centre offers a large range of sporting, dance and leisure activities, all of which are run on an Inclusive basls - where non-dlsabled and dlsabled people Gan lake part slde-by- side. The centre enjoys approximately 400.000 active visits each year. with 32Yo of membership and approximately 28% allendance by disabl￿ cuslomers. The K8pire multi award-winning innovative project, InstrudAbility, was developed lo traln dlsablad people to become frtness professionals with a ￿e1v&week Support￿ work pla￿Ment. It works with Sport England and the industry membership organisatlons to create a lasting change of Iwe equalily for disabl￿ employees and ¢)Jslomers. Our aim is to create a UK leisure industry where disabled p￿pIe are made to feel more welcome whether as a professional or service user. Resoarch Aspire has, from its inception, been excited by the possibilities of technology. The Chartiy is detemined that people with spinal cord injuries should benefit from the cutting edgè of new developments In this field. To thal end, Aspire has invested over £3 million in support of our Aspirè Centrè for Rehabilitation Englneering & Assistive Technology {Aspire CREATe} sin 1996 through University Collegè London {UCL} and the Institute of Orthopaedics and Muscul(>pSkeletal Science, based at RNOH Stanmore. This researd) centre fc¢uses on the d6velopmenl of CA)St effective and practical t￿hnologIeS that can improve the lives of disabled people and the outcome of trealment through the use of improved technology. Stratsglos for achlevlng those objectlves Asplre wlll conllnue lo manage relationships with housing associations in key gwgraphical locations, already identlfied. to maintsin our fully a￿sSIble h)using St￿k. Aspire will work in partnershlp with the housing asSo￿allonS toward new buikl projects and present a ￿se to gain access to exisling housing stoGk wher& reasonably pracalcable. We have forged strong relationships with the occupational therapists at all Spinal Injury Centres where our Assistive Technology facilities have been pl￿ed. We are now working with the NHS Easl of England group and the Lon(ion Spinal Cord Injury Network Board to support spinal cord injured patients. We continu8 to work with and report lo our funders, who support our programme. to ensure thèy are k6pt informed of all developmenls and b'enefits lo the spinal injury community and maintsin an undetstsnding of the latest technological developmenls. Our programme is delivered by highly skilled professionals in five of the nine Splnal c￿treS and several hospltsls in London. We host an annual conference whith is attend￿ by representatives from all th8 Spinal Injury Cenlres to share our knowledge and demonstrate the latest technological developments. A national service of Asplre Independent Living Advisors provides practical support and advice on living lrfe with a spinal cord injury. They ensure n8wly inlured patients are infomied of all the Servi￿ available to supp)rt them and of the practical solutlons lo problems that Aspire and olher charities and organis8tions can provide. Aspire will undertake constant reviews and assessments of our fundraislng throughout the year to ensure we achieve the most effective and efficient fundraising rèsults. Aspirè is currently worklng to a fundraisiry plan to ensure our fundraisiro can meet the additional setvices we plan in the future. The Fundraising and Marketing Committee (x)ntinually monitors this work lo ensure cDmpliance with our annual plan and budgets. Following the impact of thè pandemic, w8 developed a thr*year strategy thal woukl first focus on rfrestsblishing stsbility in our financial position and to steadily work lo reintroduce our Housing Advice service whilst securing funding to expand our work with patient education. Our current strategic focus is to ensure our seNic8s continu8 lo support as many beneficiaries as possible whilst strengthening our financial position to ensure Aspire's Songevlty. An agreement secured in January 2022 with NHS England WFII ensure Aspire can work to improve the delivery and effectiveness of patient ￿UC￿tIon and supwrt many hundreds of spinal Ix)rd Inlured people who are currently Ilving in inappropriate and inaccessible housing. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Report of the Trustses How objeclives link to longer tsrm strategies and objethes In 2020. Aspire inlroduce(l a short-lerm strategy to support the charity through a recov8ry phase following the impact of the pandemic. The aim was to stabilise the charity's finances. rebuild our services and establish the foundations needed to strengthen our financial position and reserves. That strategy, and the dedicalion of our staff. volunteers and supporters, helped secure stability and gave tha charity thè confidence to look to future growth and development. In 2024, the Senlor Leadership Team, in wllaboration with stsff, dienls a￿1 other stakehold8rs. undertook a full strategic review of the organisation. This exercise began by examining the Impact and b8nefits of what we do, exploriro whether our seryices are stlll needed, and whether they meet all the demand that exists. Amied with that background, a comprehensive rNe-year strategy was developed that will.. ensure the stability of our viial services in the years to come- slrengthen our services so that demand p￿SSUre5 do not (x)rnpromise the quality of service we are known for., and, in time, alknw us lo look at ways we can better meet unmet needs. Aspire's new fiv&year strategic document is based on thorough rasearch. detailgJ knowledge of our sector. sound financial decisions and a detemination to deliver seNices that make a tangible impact on our clienls. lives. As an overarching document that maps our development, our annual objectives naturally work towards the milestones sel in that strategy. A5 we enter year one, those objedives and milestones are completely aligned. In time. the shorter-lerm nature of annual objectives will allow us to better respond to opportunities and threats and we can expect to se8 them diverge from the milestones we've set far in advance. Yet however much they do vary there wll always be an acknowledgement of the core principles set out in our strategy. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees PERFORMANCE SUMMARY Ob-ective Independent Living Improve communicaiions wilh 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 the are undertakin Patient Education Promote work in remaining Spinal Centres where we currently do nol have staff," seek to secure involve- ment and recruit to those posts. Develop and deliver training and support to peer volunteers em- ployed by Spinal Centre Patient Education Programmes. Review all evidence gathered during pre• and posl- discharge monitoring ol the Patient Education Programmes and identify key trends and areas for improvement. Seek to influence change where required. Outcomo Communicallons have inGrease(J wilh the spinal Centres and a number of general hospitals across the UK. lispire regularty contributes to. amorust other groups. the national Spinal Injury PsycholLNJy Advisory Group, the London Spinal Cord Injury Nelwork and the Soulh East SCI Transformation Steering Group. We attend and present at staff training. family sessions and patient days. increasiro awareness of Aspire and ensurin more le have ￿e$S lo our su ort. Aspire has Patient Educalion staff in all but Iwo of the UK'S Spinal Cer tres. There has been little interest from the remaining two in joining our programme, but we continue to ensLtrre that all Centres have a￿sS to shared resources and the opwrtunity to be a member of our Patient Ed- ucation Working Group. Our Pats'ent Education Working Group brings together NHS staff from across the UK. allowing them to share best practi￿, request supwrt and make suggestions for new ways of working. The Group has dis- cussed the use of peers on a number of o(tasions. but no Centre has committed to piloting our hoped-for peer pr(MJramme'. as such. this is on hold. 3. Data is collected through our prevdischarge Mind the Gap interviews and through P￿ne calls lo pallents al six, Iwelve and eighteen months post discharge. Findings from both dala sels have been presenled through our Patient Education Worklng Group, lo NHS England and as a wster at the MASCIP conferen￿. Additionally, individual Spinal Cénlres have requested dats speafic to Iheir patients and we have presented this at MDT meetiros. Both Cenlre•specific and national data has been used to Infomi best ractI￿. Wolfare Beneflts Complete accreditation process. 2. Subject to funding, increase staffing resources to enable us to beller meet demand for the Se￿1￿. The Advice S8rvlces Alliance awarded the Wellare Benefits servicè Ad- VI￿ Quality Slandard accreditation for both our advice glvSng and our casework. 2. The service has worked closely with the Fundraising team throughout the year on a number of trust fundiTh3 bids bul has been urtsuccessful in securing additk)nal funding. This remains a priority for the new year. Asplre Housing Programme Review Ihe Aspire Housing Pro- gramme, including impact, finan- cial risk, and efficiencies that can be made lo how Ihe service is d livered. Make recommendations for short and longer-temi changes. Seek opportunities to work wilh other Spinal Centres andlor hospi- tals through our Housing training. ensurtng NHS staff have up to date kn(Mledge in key housing path- ways. Deliver sessions with at least Ihree dinical leams. Whilst a larg&sc2le review has not been carried out. reviews of intemal proc￿eS and practices have led to a number of changes in how we work. This has induded introducing better working practices with the Finance team to improve our annual renl setting, quarterfy retums and arrears monitortng. improved repairs ar)d maintenance prO￿$seS and a review of our sign up prO￿SeS. This work will continue. 2. Trdining has been delivered in a number of ways to the teams at Stoke Mandeville. with an infomal approach being favoured by the NHS staff. Impromptu advice has also been provided to staff at other hospitals. though the offer of timetabled se55ions has not been taken up. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustoes PERFORMANCE SUMMARY- Contlnued etive Assistive Technology Complete pilot project with the Royal Sussex hospital, training their staff in delivering Assistive Technology training. Monitor impact and evalu- ale outcomes. Make recommenda- lions for future support at the Royal Sussex and the feasibility of using this model at other sites. Work with the Spinal Hubs in the East of England to, subject to fund- ing, introduce ari Assistive Technol- ogy Servi￿ to their patients. Introduce a User Panel for testing new technology,. seek funding re- quired, recruit participants, make use of panel as and when appropri- ale and ensure findings are pro- duced in a suitable way for distrib- uling key information to staff, hospi- lals and other interested arties. InstructAbillty Aim lo (x)ndude the current funded proj8Ct by June 30th 2023. In agreèment with Sport England the research will conclude with a final report in October 2023. 2. Achieve a total of 500 digital (iownloads oflhe Guides by June 2023 and disseminate 500 hard copies. Deliver online workshops 10 50 people from training provider or sporvleisure organisations. Undertake an in deplh 6-month engagement with 4 organisations to embed guidance at all levels withln their organis8tion. 4. Research Aim 1 (Guide disserninallon). Research Arm 2 (Guide Smpad} and Research Aim 3. (COVID-19 impact} Survey all willing individuals who have acr£ss8d the guidance and collate responses. Complete two weeks and four weeks follow-up surveys. Recruit and inlervi8w 30 participants from su sample of 'downloaderslGuide takers,. For Research Aims 2 and 3, conduct initial 30 inteNiews and six observatlons with second follow-up by February 2023. Outcome Aspire staff delivered tralning to NHS staff, and provided additional support to new patients. particularly those with complex needs. as part of the teaching pro￿$s. Early feedback Indicated Ihat there was a positive impact. both from the training and the AT equipment Ihat was provided through the project. However, it's also clear that timè pressures on th6 NHS staff means that pat18nts do not get the same level of AT service that is delivered when dedicaled staff are available. The project will continue, and wll wntinue to benefit patients, but it is unlikely to be laken forward as a m¢xlel of provision lo employ elsewhere. 2. We have worf(ed dosely with the Splnal Hubs in the East of England lo develop a plan for delivering asslstive technology to thelr patients. This has been used as the basis for funding appllcations., unfortunately, so far these have not been successful, and we will continue to seek funding in the new year. Durlng the year a number of the team moved on, and the resutting recruitment t￿k up considerable tlme. As a result, plans for the user panel w8re postponed. This will be resurreded In the naw year. Final report ddayed due to researcher illnass, new deadline 13th Sep- iember 2024. 338 Digital downloads and 568 hard copies dlstrfbuted. 3. A total of 82 sport and leisure professionals have accessed an initial open online workshop. Four organlsalions were invited to progress to a whole organisation improvement planning programm8 involving fa￿ lo fac8 planning workshop with three follow up reviews. 36 senior leaders have been Involved in the programme. Final numbers will be reported in the end of programme report In Sep- tember 2024. Interviews and observations wer8 all compleled. Final in- terviews and observalions had a second review and completed March 2024. Al data to be completed and analysed by September 2024. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees PERFORMANCE SUMMARY- contlnued Ob'ecllve InstructAblllty (conllnued) Con(iucl final interviews and observations by September 2023. Analyse all remaining dala, complete final report and other output documentation by Oclober 2023. Outcome Aspire Rèsearch Pursue funding to increaselmaintain our PhD student and research associate cohorts. Fsfth set of PhD students exP￿ed to complete th61r research in 2023. Malntsin Ihe number of *ive projects and if possible, increase the current number by actively pursuing new collaboralions and submitting new granl proposals. Maintsin publication rate. Continu8 to deliver our Msc programmes. 6. Continue to contribute to outreach activities (tslklng to schools. public vents, o en da s, elc. . Fundralslng To raise a totsl of £1mk in unr stricted income. With careful CDntrol of costs, Ihis will deliver an 80h In crease in profit taking us from £449k profit to £532k. Developmenl of the following new initiatives.. To raise £20k of donatton income from The Big Give, £15k of income from a London- Amsterdam cyde ride, £10k of income from a skydive and £20k of inwme from new Night Swim events. The total cost to Aspire of these projects to be no more than £20k. 3. To retum The Aspire Channel Swim to profitability and re-establish it as a viable event. Working closety with leisure service providers we aim to sign up 1,700 swimmers, raising a total of £170k and delivering a profit of £84k. During 2023, we Wel￿)med 8 new PhD students. 2. We have had 4 PhD sludenl completions: Reni Magbabeola. Bingqing {Pat) Zhang. Fraje Watson, and Matt Thomton. PhD Students Yunyi Zhao and Xinkai Zhou, have successfully passed their upgrade viva. We are also very proud of Yazan Al-A}am, Kuen Chin and Constantinos Horacleous who have SLwssfully passed and were awarded their PhDs. Progressed ongoing projects and submitted 18 new grant proposals with 7 suc￿sful applications raising £840k. 4. We have publish6d 64 papers tiournal and CA)nference proceedings). Continu6d delivery of the sixth student cohort for our Msc Rehabilitation Englne8ring & Assistive Technology {REAT} with 14 students enro116d for the 2023-24 year. We have wel￿med in total 57 students on our Msc programmes to Slanmore. We have deliv6red 11 invited talks at seminars and conferences. The departsnenl ralsed £1.01 million in Ihe financial year. Profit in¢rease was slighuy down on the tsrgel, but profit was increased from £449k lo £523k- a 16Yo increase on the previous year. 2. The Btg Give raised a totsl of £16k and the Nigm Swim events raised £19k, although Ihe se¢x)nd swim was moved into financial year 2024r25. The London- Amsterdam Cyde and Skydiv6 did not take place. Sign-ups never materiallsed, desplte a marteling campaign. However, other new initiatives, including the Sporting Chance Appeal and the Original Marathon have delivered a further £1 Ok of nw money to Aspire. The OLrtlay on these new projecls has been less than £7k. 3. The Aspire Channel Swim exceeded ils financlal tsrgels and raised £172k of income and recorded a profit of £98k. This excellent result was achiev￿ despite only recruiting 1,500 swimmers. 4. Open Waler swimming raised an impressive £429k in 2023124 and delivered a profil of £265k. Su￿$$fullY outstripping the original budget. Other swims returned an income of £121k and a profit of £75k. 5. Th6 London Sports Quiz Dinner was a phenomenal success and raised £132k delivering a fantastic profit margin of £64k. The Manchester dinner failed to attract the traction needed lo deliver the event and we made the hard deciston to cancel the dinner. Despite that, the phenomenal performance of London has meant that we have still exceed8d that planned profil target for both events combined. We raised £559k in grant and restricted income for this financial year. Although shy of the planned budget. this was still the single largest amount raised in a financial year for restricted funding {apart from 2012's Harebell eal ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees PERFORMANCE SUMMARY- contlnuèd Objectlvè Fundralsing (continued) 4. To raise over £400k from our open water swim portfolio, delivering a profit of £249k. We will rnainlain this level of income by continuing lo develop swimming events, building on the Sealand Swim, The Solenl, Soally Isles and developing a new series of Night Swims. The portfolio of swims, outside the Relay Channel swims is targeted to deliver £125k of incL)me and £73k profit. London Sports Quiz Dinner forApril 2023 to raise £120k and deliver a profil 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 Corporale partners across all Kspire Services (including Lottery and NHS Grants already agr88d). Outcome Aspire Law Aspire Law to work to maintain con sistent cllent numbers by acquirlng new clienls to match the number of casès concluding. Aspire Law to fulfil the objectives of the Ihree-ye8r strategy launched in November 2021. Establish Aspire Law main offits at the London City localion and relo- cale staff. 4. Conlinue and extend our important sponsorship of charity services and work with Aspire to identify a new possibl8 SUPPOrt role for the London Ma'or Trauma Centres. Aspire Leisure Centre Achieve the budget set. Maintain Quest accreditation. Work lowards pre-pandemic levels of membership {1.500 Premier Members). Maintain disabled membership at 32%. Achieve average audit score (quality and Mystery visits) of 80Yts. 6. Achieve Health & Safety Audit score of 80/0. Reduce utility consumplion (Water 50/0, Gas 5%, Electricity 5Vo). 8. Achieve NPS sutvey score above 50. Apply for funding to replace the sports hall roof. 10. Achieve £5k fundraisin Aspire Law has demonstrat￿ Sel￿tiVeneSS with new instructions. 2. Aspire Law has continued to successfully fulfil the objectives of the Ihr*year strategy 2021-2024. 3. Thè Cily of London office is now the main office location for Aspire Law and th6 5th Floor lease has been signed. 4. Aspire Law continués to be the only sponsor of Aspire's Assistlve Technology Service which launched support for the London Major Trauma Centres and General Hospitals in September 2023. 10 Total surplus achieved was £37.5k. £2k down against budget. 2. We achieved a "Very Good. Quest accreditation. An improvement from our previous -Good" rating. Total Premier Members have recovered to 1,410, 90 members down on pre-pandemic levels. Disabled Members are currently 28%. 4Yo under our.target. 5. Mystery Visit Audit Score was 75¥D average. 50A down against target. Health & Safety Audit Score achieved 88%. 8¥0 higher than target. 7. A reduction of 9.￿ was achieved for Gas. whilst electricily was over by 7%. Water meter dats was inaccurale due lo meter unit failure. 8. Member surveys not cnmpleted due lo staffing chang8s. 9. £16k funding secured to replace skylights. Work completed. 10. £4k raised personally by the Centre Manager running ihe London Marathon. lar ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees A significant facior affecting our plans, which is OLrtside of our cxjntrol. relates to the acquisition of new house5 as part of the Aspire Housing Programme. Changes in government policy for housing associations can have a detrimental impact on th8ir interest and ability to offer Aspire any of their housing stock. It (Zn also diminish our opportunities through a reduction in new build projects in which we can participate. Public benefit slatoment The purposes and adivities of Aspire indude Ihe advancement of health among th)se who have incurred a spinal cK)rd injury, academic researth designed to assist such persons. the provision of recreatlonal facllltles for people in special ne￿ because of their disability and the provision of financial help and specialised ￿￿sing, training, advice and other facilitles for those in need of them for the same reasons. The Truslees lake the view that the purposes and activities fully comply with the public benefit requiremenl as set out in the Charities Act 2011 and explained in the Charily Commission's guidance on Publlc Benèfit. Aspire's services are open lo all spinally Injured persons regardless of age, sex. maritsl status. sexual orientation, ethnicity, nationality, place of residence, financial arcumstances, social class. polilical opinions and religious belief. So Aspire's main benefic¢aries, of whom there are potenlially a significant number, can properfy be regarded as a 'section of the public, in charity law. In addition, as part of the activities which benefrt spinal injured pwple, Aspire also provides help and support for their familles and members of the public generally. The Trustees strongty believe that assisting spinally injured people to become independent and reintegrate into the community provides soc4al enrichment for the ￿MMunity itself and helps it to be more cohesive. FINANCIAL REVIEW Prlnclpal Funding Sources of the Char Aspire's total income Increas￿ by £189k in last year to jusl under £3.8m. showing signs of steady growth over the last few years. The furfough stheme ended in the year 2021122, therefore rKJ further in￿rne benefit has been received from the scheme sin￿. Donations and Trust irbcome decreased by £104k, to £914k. CharilabSe Activity Inc￿Me increased by £266k with Ihe Aspire Leisure Centre close to pre-pandemic incom6 levels. Nspire Housing income increased by £90k on the previous year due to the NHS England grant incom&. Other Tradlng, which comprises Aspire Fundraising Limited (fundraising evenls> income increased over 17% against thè previous year. The Joinl Ventures (Aspire Law LLP and Aspire Weallh + Management Ltd) contributed a total of £114k this year, down £85k from last year. Aspire Law LLP also made a £100k dividend payment again this year shown In 'Olher Income,, below. Principle Funding Sources 2020121 2021/22 2022/23 2023124 500 1,000 1,500 2,000 £'ooo 2,500 3,000 3,500 4.000 Doriations and Trusts • Charitable Activities • Other Trading Joint Venture 11 Furlough Scheme • Other Income ure 1 Princi l Fundin Sour¢e$ for the ear ended 31 March 2024 10 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trusteès Fundralslng Income Total fundralsing income was similar to lasl year at just under £1.7m. General fundraising through our Trading Subsidiary (Other Trading) improved by over £1 Ook againsl the previous year. Trust and Foundation income rA)nlinue to perfomi well this year. Fundraising Income 200 400 600 800 iooo 1200 1400 1600 1800 2000 £'ooo 2020121 n 2021122 • 2022123 B 2023124 ar énded 31 Marcii 2024 Fl ure 2 Fundralsln Income for the Charitabla IncoTh Our inrxjme from Charitable Activities continues lo show strong perf0mlan￿. The Aspire Leisure Servic8s income improved by 15% to £1.362m. Aspire Housing inwme improved with the support of the NHS England grant. Additional ino)me was se￿red in support of our Housing Advi￿ service through the same NHS England grant. Charitable Income Aspire Housing Aspire Leisure Service5 200 400 600 800 iooo 1200 1400 £,￿0 2020121 W 2021122 H 2022123 w 2023124 Fl ure 3 Total Charltable Income for t ar endod 31 March 2024 11 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustses Total Cost of Fundralslng The tolal cost of fundraising remains consistent wilh the previous year whilst we have once again improved our n&t fundraising return. Total Cost of Fundraising loo 200 300 400 500 600 £'ooo k* 2020121 M 2021122 u 2022123 • 2023124 Fl ur6 4 Total Cost of Fundraisin for tho ar onded 31 March 2024 Charltsble Expenditure Our total charitable expendlture decreas6d slightly. Whilst most tharitable service expenditure has Ir￿eased. the key areas where expenditure has decreased are Research and restricted Leisure activity (InstructAbility programme). Our ten-year funding commitment to the Aspire Centre for Rehabilitation EngIne￿ing and Assistive Technology ended in the first quarter of the finanaal year. Patient Education has been separated from Independent Living expenditure due lo the wort expanding throughout the country. Charitable Expenditure Patient Education Wefare Benefits Assistive Technology Independent Living pire Grants Aspire HoLfsing Research Aspire Leisure Services 200 400 600 800 iooo 1200 1400 1600 1800 £'ooo 11 2020121 • 2021122 ll 2022123 • 2023124 Fl ure 5 Charl leEx ndlture for the ar ended 31 March 2024 12 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustsos Aspire Law LLP Aspire Invested in a Joint Venture with the legal firm, M¢)ore Barfow LLP, lo create Aspire Law LLP- a unique swal enterprise that represents spinal wrd Injury daimanls only. This highly specialist legal firm placès its clients al the hèart of the business. It provides a ￿mprehenSIVe service that aims lo secure the highest value seltlemenl for their claim in the most appropriate timeframe. therefore allowing them to get on with Iheir lrfe. Thls Servi￿ is provided on a 'No Win, No Fee, basis, with our clients rec6iving 100Yo of their award and Aspire Law's costs being funded by thè third party. Aspire owns 500A of Aspire Law LLP. through the trading subsidiary Aspire Trading 2014 Limited. and contributes 50Yo of th8 operating cost. In line with the agreement. Aspire Law LLP donates 50 /0 of all its operating profits to Aspir8 to allow us to provide a wealth of servicès to benefit the vast majority of spinal cord injured people who do not benefit from the support of a compensation claim. Aspire Law contributed £107k profit share to Aspire this year as well as providing over £100k sponsorship to Aspire Services and a £1 Ook dividend payment. A report is induded in Ihe earlier section undèr Performance Summary Objective 9. Aspire + Wealth Managemont Llmited Aspire has worked in partnership with Independent Financial Advisor Frenkel Topping to fomi a rthv loinl venture, Aspire + Wealth Management Limited. launched in April 2020. ThSs 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 Ilves. Aspire owns 50Y. of Aspire + Wealth Manag￿ent Limited. through the trading subsidiary Aspire Tradlng 2020 Llmited, and in line with the agreement, Aspire + Wealth Managemènt Limited donates 600/0 of all its operating profits to Aspire. This year Aspire + Wealth Management Llmited cL)ntribuled £7k to Aspire, whid) was 60% of operating profrt. Aspire + Weallh Management remains the current corporate sponsor of Aspire's Money Matters service. Investment pollcy and rntums Aspire operates an Investment policy to achieve the maximum possible rèturn at the lowèst level of risk. We aim to ensure thal investments grow in value, in line with the rale of inflalion. whilst provlding a modesl return on the original capitsl invested whilst also meeting our ethlGal investment policy. Due to the reductlon in cash belng held by the Charity, we currently onty hold £13k. which is invested in the CCLA Investment Fund. Reserves Pollcy Aspire's reserv&s are £1,050k repr&senting Unrestricted Funds (£1.428k) less Tangible Flxed Assets (£232k} arKI Designated Funds (£146k). The reserves are supported by investrnents, which by Iheir nature are illiquid. See rbot8s 7 and 13 of the Notes to the Financlal Statements. Aspire manages ils cash flow through its net current assets, income and expenditure and funding available to it. The Trustees have reviewed the general reseryes policy of Aspire and have t£Jnsidered the financial requirements needed to support the work of the Charlly and to prolecl against fvture potential risks. In the opinion of the Truslees, Ihe reserves are suff¢ctent for Aspire's needs, however, the Truste8s' long-temi aim is to increase the reserves and. in particular. to increase the wmponent backed by liquid assets, such as cash. to enhance the flexlbility of its cash management. Rlsk Management Th8 Trustees have examined the major rlsks which the Charity faces and confim that systems have been &slablished so that the necessary steps can be taken to manage those risks. The systems of internal cL)ntrol are deslgned to provide reasonable, but not absolute. assurance against material misstatement or loss. They include: Accreditation to recognised nalional standards including Quest and Best Companies. External auditing of Quality Management and Health & Safety Systems. A full rfsk register and risk policy, which is reviewèd every six months. Full compelitor and extemal threal analysis for all servlces. An annual bu(iget with full supportlng business plans approved by the Trustees. Regular consideration by the Trustees of financial results and forecasts. variances from budgets and non-financial perfomance. Quarterly reporting and assessment of operational plans and objedives that have been agreed and set for the year. Delegation of authority and segregation of duties. on￿Oing investment in the (ievelopment of the professlonal knowledge and capability of staff. A 3-Year Strategic RecoverylRebuild plan 2022124. A new &Year Slralegic Plan 2024129. 13 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Report of the Trustees The key risks identified by Aspire in 2023124 were.. Financial Risk- demand for our setvices continues lo grow and this will place even greater demand on our finances in the futur6. Global evenls in 2023 have had a material impact on all of our purchases, especialty gas and electriuty costs for operatlng the Asplre Lelsure Centre. Rising inflation and the ¢ost-of-livlng crlsls Gan impact our staff, fundraising and Aspire Leisure Centre customers. Govemment Poliw Changes- changes in social housing and weFfare benefrts have a major impact on our beneficiary group and as a result an increase in demand for our servlces. Tight budgets for care provision can affecl the amount and quality of care provided lo spinal cord injured people. The above risks will be considered by the Trustees and the leadership leam Ihroughout the next financial year, but th6 rlsks presented by Ihe CA)St•of4iving crisis, inflation, increased utility costs arKi rising employmenl Costs, will be the major focus for 2024 onwards. A comprehensive risk register and related actions, quality systems. policies and controls have already been estsblished to mitigate any such risks. Going Concern The Trus18es have Consider￿ the impact of the cost•of4iving crisis, inflation, increases in utility costs and rfslng employmenl costs on the future viability of the charitable company and the expected level of income and expenditur6 for the 12 months from the date of authorisSng these financial statements. The projected income and expenditure of the charitable (t)mpany tc*Jether with the level of ts resources is sufficient for the charitable (x)mpany lo be able to Continue as a goiro wnc£m. The Truslees continue to take all the avallable steps lo maintsin sufficient resources In order Ihat the ¢haritable company can continue and, based on projections and avallable infomiation, the Trustees have a reasonable expectalion that the charitable (x)mpany will have SLrfI(aent funds to (ontinue to meet its liabilities as they fall due for the foreseeable fLrture and therefore have prepared the financial statements on a going concem basis. Plans for 2024125 Ob'ective Indep6ndent Llvlng Improve relationships at a local level between Aspire's Advtsors and their regional representatives from SIA and Back Up: ensure regular catch ups are held locally and that referrals b8lwe6n the charlties are effiaent and effec- tive. Patlent Educallon Seek opportunities to engage with Major Trauma c￿treS and Ganeral Hospitsls,. identify their ability to deliver Patient Education to long-temi patients; identify key gaps in provlslon and seek expert guidan￿ as lo suitability of sessions; seek ways to meet need. Deliver three focus groups to assess patlenl percEplion of Patient Educalion,. revSew previous I￿u$ groups. Mind the Gap and posl discharge data to identify framework of issues to explore. secure agreement from three spinal centres to host the groups" hold groups. collate findings and produce report. 3. R6view the development and delivery of Aspire's Patient Education Prcgramme at the culmination of Ihree year of NHSE funding: highlight positive devdopments, Id8nlify areas for improvement and make recommendations for future work. Welfare Bonoffts Review the Service's ability to support refug88s and asylum seekers. undertake training where there are skills gaps and ensure Servi￿ is meeling this need. Improve awareness of Welfare Benefits Sery1￿ amongst Spinal Centre and other hospital slaff; seek opportuni- ties to promole the service and provide training on key Benefits issues to th¢)se staff who support patients. Aspire Housing Programmo R6view the Aspire Housing Pr(M3ramme. including impact, financial rlsk. and efficiencies that can be made to how the Serv1￿ is delIv￿ed. Make recommendations for $hort and longer-temi changes. Seek to engage with general ￿spItal$ with a view to helping their stsff prepare patients for discharge and ensur- ing accurate and timely referrals to Aspire 3. Build on the work of the new style Housing Forums al Stoke Mandeville and roll out to at least other Splnal Centres. 14 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Asslstlvo Technology Introduce a User Panel for testing new technology; seek funding r￿Uired, recruit participanls. make use of pan81 as and when appropriate and ensure findings are produced in a suitable way for distributlng key information to staff, hospitals and other interested parties. Work with ihe Spinal Hubs in th8 East of England to introduce an Assistive Technology service. Review the London and South East AT SeNice and make recommendations for future development. Grants Review outo)mes from first year of the new Granls programme., make recommendations for improvemenls or changes lo the service. InstructAbility m to conclude thè current funded project by June 30th 2024. In agreement wlth Sport England the research will conclude with a final report in October 2024. Asplro Research Pursue funding to increaselmaintain our PhD student and research associate cohorts. Sixth set PhD students expected to complet8 their research in 2024. Maintain the number of active projects and if possible, increase the current number by actively pursuing new collaborations and submitting new grant proposals. Maintain publlcalion rate. 5. ConlSnue to dellver our Msc programmes. 6. Continue to conlribut6 to outreach aclivities (talking to schools, public evenls, op8n days, etc.). Fundralslng To deliv6r £1.01 million of unrestrlcted income tr) Aspire and deliver an annual proflt of £514k. 2. To continue lo develop the Aspire Chann81 Swim and deliver a 15% increas6 in Incom6 from the pr8vlous yearfs £174k to £200k in 2024125. To increase profit on the event by 14Yo from £99k to £113k. 3. To cDntinue lo develop Aspire's open water swimming programme with the addition of night swims and the addition of a new swim from Red Sands Forts in the Thames Estuary. The total income from the new events to be £30k with a profit of £19k. 4. To maintain the existing open water swimming portfolio and raise a totsl of £364k of income and £216k of profit. To deliver 2 Sports Quiz events, one on London and r&establish the Manchester event raising a total of £167k and achieving a total profit of £83k. 6. To Continue to develop the new iniliatives of The Big Give. raising £20k and Sportlng Chance, raising £5k and establish them as a regular part of Ihe fundraising portfolio. To raise £596k from our grants and restricted inwme pr(KJramme. Thls to include a joint bid for funds with our sister charil Sl Asplre Law Aspire Law to be selective wilh new inslrudions and not malerially increase new instructions. Aspire Law to rA)ntinue to fulfil the objectives of the three-y8ar strategy launched in November 2021. Eslablish Aspire Law main office on the 5th Floor of Ihe London City location and relocate staff. 4. Continue and extend our important sponsorshlp of charity servicAs. 10 11 Aspire Lelsure Centre Achieve the budget set. Maintaln Quest accreditation "Very Good.. 3. Work towards prevpandemlc1evels of membership (1.500 Premler Members). MaSntain disabled memb8rship of at least 320/0. 5. Achleve average audit score {quality and Mystery visits) of 80QA. 6. khievè Health & Safety Audit score of 80°/o. Reduce utility oonsumption (Water 5%. Gas 5%, Electricity 5%). 8. Secure funding for the installatlon of solar panels. Implemenl parklng control system. 15 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Asplre would like to thank tha followlng trust8 and foundatlons for tholr support of our work during the last year: Blakemore Foundation The Gra￿ Trust Bruc8 Wake Charitable Trust The Hadrlan Trust C A Redfern Charllable Foundation The Hodge Foundallon The Hospital Saturday Fund The HL￿h Fraser Foundation The lan Askew Charitable Trust crty Bridge Foundation DVS Foundation London Maralhon Foundation Motsbility Foundation P F Charitable Trust The lan Karten Charitabl8 Trust The James Tudor Founiialion Pilkington Charities, Fund Scottish Power Foundation The Lawson Trust The M￿ndance Foundation Shanly Fourtdallon Southampton Hospitals Charlty The Access Foundation The Abert Gubay Charitable Foundation The Barratt Foundallon Reachlng Communities England The Noble Charitable Trust The Sir George Martin Charitable Trust The Sir James Roll Charitable Trust The Sov8resgn Health Care Charitable Trust The Steven Bloch Image of Dlsability Charitable Trust The Walter Guinness Charitable Trust The Zachary Merton and George Woofindin Trust Wheehvrights, Charlty The Childwick Trust The Christopher Laing Foundation The Eveson Trust National Lottery Awards for All England National Lottery Awards for All Northern Ireland Aspire would also Ilke to thank the following people and organlsallons for thelr support: Aspire Law LLP John Inverdale Zog9s International Ltd Rob Nothman Flttleworths Alan Bl(KJm Frenkel Topping Antony and Caragh Barnes Adapt Abllity Lld Aspire + Wealth Management Ltd Zen8 Jean4apllsle and Claudine Wautier 16 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of tho Tru$tso8 GOVERNANCE Constitution Aspire is a registered charity, number 1075317 and is also a company limlled by guarantee, regISte￿d rA)mpany number 03744357. The Charity is also registered with the Office of the Scottish Charity Regulator 'OSCR' with registered charity number SC037482. Trustees The Truslees who served during the year were as folbws.. Dr H Agha (retired 14 June 2024) R Burrell (rell￿d 15 December 2023) A Chaplin N Flanagan S Gardiner C J Leach (resigned 25 July 2024) H Mehta Dr S Patel (retired 19 March 20241 J Sac*s Dr P Thumbikal (appointed 19 March 2024) J Wautier (appointed 3 October 2023) R Wilmol (appointed 15 September 2023) None of Ihe Trustees had an interest in any (x)ntract or arrangement of a material nature during the year under review. Methods for reGrultlng and appolntlng Trustees The Trustees select members to join tha Trustee Board Ihat will ￿Mplement and strengthen the exisling professional expertise and competencies of the board. A 'Key Skills, analysis Ss undertaken to identify any skills/experIen￿lknOwl8dge gaps on the Trusteè Board before undertaking a specific recruitment process. The Trustees also welcome expressions of interest from candidales who have served a mlnimum of one year as a committee member supporting the work of the Charity. Pollcles and proceduras for Inducting and trainlng Trusteos During the recruitment process, a new Trustee receives a full induction to the organisation Induding Asplre's history, etFTh)s. culture and vision for the future. Further to this a meeting is arranged with the Chief Ex&utive Officer and Directors of the Charity at the Aspire Leisu￿ Cenlre. when a tour of the facilities is given, and a more detailed explanation is provided regarding the Charity's activities. Truslees are provided wilh necessary infomiation about support and advice prepared by the Charity Comrnission. Trustees are also invited to altend seminar5 and cDnferences thal may be deemed appropriate and where they are not able to attend, one Trustee will provide an update and feedback to the Board frorn any events attended. Organi&ilional structure and how decisions are made The Aspire Board of Trustees is ultimately responsible for ensuring the CharitWs strategic direction and the acliorns of its employees. This responsibility is discharged through the Chief EX￿Ul1Ve offi￿r. The Truslee Board meet every Ihree months to review performance against agreed operational and financial targets and, in addition to this, altend exceptional meetings lo review and develop the Charity's Strategy. Each activity area of Aspire's work is closely monitored by committees that include at least one Trustee who will chair the cL)mmillee. Each committee will invite external experts and advisors to assist in the monitoring and evaluation of these activities and to help in the longer-tem development. The committees all meet prior lo 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 cK)mmunicat8d through the Chief Executive Offic8r and recorded in the minutes of the me81ing. In addition to this, regular meetings are held by the Chair and the Chief Executive orricer lo monitor the Charily's perfomance and govemance. Regular meetings are held belween the Chair and th8 Chlef Executive OffI￿r every four to six weeks. 17 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Asplre Organlsatlonal Structure March 2024 Asplre Board of Trustees Aspir8 Law LLP Aspire + Wealth Managemenl Lld CEO Aspire Research Finance & HR Services Fundraising & Marketing Aspire Leisurè Services Housing Assistive Technology Welfare Benefits Patient Education A &year slrategy was developed and launch￿ at the beginning of 2024 financial year to set out how Aspire will continue to build and its servic£ capacity to meet the growing demand. A key f￿uS is also the rebuilding and strengthening of liquid cash reserves. This plan is supported by a tsvelv&month cashflow f0￿Cast. which is reviewed and updat￿j quarterly. Wider neiwork andlor relationshlp wlth affillated organlsations To communi(xte and advan￿ the worf( of Aspire we WO￿ with other charitie5 and organisations to ensure the most effeGtive means of operating and delivering our servi￿. 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 whal they are workiro to achieve, give support where necessary. seek opportunities for collaboration and avoid any duplication of service aclivity. Aspire is a member of MASCIP (Multidisciplinary Association of Spinal Cord Inlury Professionals). Personnel and Staff Movomonts The Trustees and the leadership team comprise the key managemenl personnel of the Charity in charge of directiro and controlling and operating the Charity on a day-to4ay basis. The leadership team cnnsists of th6 Chief Executive Offi￿r. Director of Fundraising and Marketing, Dir6Ctor of Servlces, Dlrector of Operations. Finance Manager and Leisure C￿tre Manager. All Trustees give of their lime freely. No remuneration was paid to any of thè Trustees, ndther were any expenses claim&Y. No key management personnel reS￿ned during the financial year. The Charity uses tharity sector benchmarks to assess and set Ihe remuneration of the key management person￿1 and always aims to pay median market rates. Slatement of Trustees, Responslbllltles The Trustees are ￿sponSible for preparing the Trustees, Report and the financial statements. in accordance with applicable law and United Kingdom Acwunting Standards (United Kingdom Generally AcLepted Accounting Practi￿). Company law requires the Trust￿ 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 reSoUr￿S and application of resources. induding the income and expenditure of the charitable company for Ihe year. In preparing these financial statements, the Trustees are required to.. Sel￿t suitable accounting policies and then apply them consistentty., obsetve the methods and principles in the Charities SORP (FRS 102),. make judgements and estimates that are reasonable arKI prudent., stste whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements. prepare Ihe finanrial statements on the going concem basls unless it is inappropriate lo presume Ihat the charitable cA)mpany will continue in operation 18 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REIKfEGRATION 'ASPIRE' Report of the Trt￿tee$ The Trustees are responsible for keeping adequate acLx)unting records that disdose, with ieasonable accuracy at any time. Ihe financial Posltion of the charitsble company and enable Ihem to ensure that the fir￿n￿al statements Ix)mply with the Companies Act 20(hS. They are also responsible for safeguarding ts assets of the charrtable company and hen￿ for tsking reasonable steps for the prevention arKI detecti￿ of fraud and other irregularities. In so far as the Trusts8s are a￿dre. there is no relevant audtt infornatKin of which the dwritsNe companls auditor is unaware; arKI the Trustees have tsken all steps that Ihey ought to have taken to make themselve5 avrafe of ary relevant audit infornatlon and to establish that the auditor is aware of that infom)*ion. The Trustees are responsible for th8 rnaintenance and integrity ofthe corporatè and ffinancial information induded on the charitsble company's website. Legislation in the United lfjn9dotri goveming the preparation and dissemination of finar￿la1 statements may differ from legislation in otherjurisdictions. Auditop8 A resdution for the re-appointment of l¥zets Audtt Se￿I￿s as auditors to the charitable company will be submitted lo the Annual General Meeting. This report has been prepared in ac(x)rdance with the Statement of Recommended Praciice Accounting and Reporting by Charities, and ￿ accordan￿ wth the speci81 provisions of Part 15 of the Companies Act 2006 relating to smaller entities. By Order of the Board Nick Flanag & Treasurer Ir 2014 19 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Independent Audltorfs Report to Ihe Members Oplnlon We have audited the finanaal statem8nts of Association for Spinal Injury Research Rehabilitation and Reintegration {the 'charitable parent company.) and ils subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidaled Slatemant 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 Fxeparation is appli(xble law and Uniied Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generalty Accepted Accounting Practi￿). In our opinion, the financial slalements= give a true and fair view of the state of the group's and of Ihe charilable parent compan￿$ affairs as at 31 March 2024 and of the group's ir￿Orning resources and aprAication of resources, for the year then ended.. have ￿en properly p￿pared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance viith the reqU1￿MentS of the Companie5 A¢1 2006. Basls for oplnlon We conducted our aL￿1t in accordance with International Standards on Audltlng (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further desuibed in the Auditors responsibil￿Te$ ftir the audit of the financial ststements section of our report. We are independent of the charitablo parent ￿MpanY in accordance with the ethical requirem￿lS that ale relevant to our audii of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fuffilled our other ethical responsibilities in accordance with these r8quirem8nts. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons rolatlng to golng concern In auditing the financial statements, we have concluded that the trustees. use of the going ¢on¢em basis of accounting in the preparation of Ihe financial statem8nts is appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating to events or conditions thaL individually or Colledively, may cast slgnifi¢ant doubt on the group's and charitab18 parent company's ability to continue as a golng ¢on¢em for a perithj of at least twelve months from ￿en the financial statements are authorised for issue. Our responsibilitiès and tho responsibilities of the trustees with respect to going concern are described in the relèvant S8Ctlons of thls reporL Othér Infommtlon The other information comprises the infomiation induded in the annual report other than the financial statements and ¢)ur auditorfs report thereon. The trustees are responsible for the other infomation contained within the annual report Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitEy stated in our report, we do not express any forn of assurance conclusion theraon. Our reswnsibility is to read the other infomiation and, in doing so, consider whether Ihe other infomiation 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 apparenl material misstatements, we are required to detsmiine 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. 20 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Independent Audltor's Report to tho Member8 Opinlons on other matters proscrlbed by the Companle$ Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report, which indudes the directors, report and strategic report for Ihe financial year for which the financial statements are prepared is consistent with the financial slatements,. and the strategic report and the directors, report included within the Trustees, Rèport have been prepared in accx)rdance with applicable legal requSrements. Matters on whlch we are requirod to report by exceptlon In Ihe light of the knowledge and understanding of the group and charitable parent company and its environmenl obtsined 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 followirKJ matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate aco)untSng records have not been kept. or returr6 adw4uat8 for our audlt have not been received from branches not visited by us., or the financial statements are not in agreement wlth the accounting recx)rds and returns., or certain di5dosures of trustees, remuneration specified by law are rKJt made., or we have not received all the information and explanallons we require for our audit,. or the trustees were not entitled to prepare the financial statements in a￿OrdanCe with the small companies r￿jiMe 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. Rèsponslbllllios of Trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitable parent company for th8 purposes of company law) are responsible for Ihe preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal ￿ntrol as the Irustees determlne is necessary to enable Ihe preparation of financial statements that are fTe8 from material misstatement, whether due to fraud or error. In preparing the financial ststemenls, the trustees are responsible for assessing the group's and thè charitable parent company's ablllty to continue as a going concern, disclosiTrJ, as applicable, matters related to goin9 cx)ncern and using the golng concern basis of accounting unless the trustees either intend to liquidate the charitable parent company or to oase operations, or have no realistic altamatlve but to do so. Audltovs respon$lbiliti08 for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from malerial misstalamenl, whether due lo fraud or error, and to issue an audilorfs report that indudes our oplnion. Reasonable assuran is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detecl a material misslatement wh8n it exists. Mlsststements 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 Ihe basis of these financial statements. A further descriptlon of our responsibilitles is avaSlable on the Flnancial Reportlng Council's website at www.frc.org.uklaudStorsresponsibllilies. This d8scription fom)s part of our audltorfs report. 21 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Independent Audltor's Report to the Members Extont to whlch the audit was considornd capable of detscllng Irregularities, includlng fraud Irregularities, including fraud, are instances of nonwcDmpliance with laws and wulations. We design procedures in line with our responsibilities, outlined abov8 and on the Financial Reporting Counal's website, to detect m8terial misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its actlvities, its control environment, and Ilkely future developments, including in relation lo the legal and regulalory framework applicable and how the enlity is complying with that framework. Based on this understanding, we identify and assess the rlsks of material misslatemenl of the financial statements. whether due to fraud or emr, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suffident and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were CDntrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and nonwcompliance with laws and regulalions, including fraud, we designed pr￿8dureS which included.. Enquiry of management and those charged with governan￿ around actual and potential Illlgatlon and claims as well as actual, suspeded and alleged fraud- Reviewing minutes of meetings of those chargad with governance. Assessing the extent of Complian￿ with Ihe laws and regulations cDnsidered to have a direct material effect on the financial statements or the operations of the charitable par￿t company through enquiry and inspection., Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with appli- cable laws and regulations., Performing audit work over the risk of rnanagem￿t bias and overrlde of (x)nlrols. including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of signfflcanl transactions outside the normal cfjurse of business and reviewing accounting estimates for irKiicators of potential bias. Because of the inherent limitations of an audit. there is a risk that we will not det&t all irr8gularltl8s, including those leading to a material misstatement in the financial statements or nonwc0mpl1an￿ with regulation. This risk Increases the more thal compliance with a law or regulation is removed from the events and transactions reflected in the finanaal slalements. as we will be18ss likely to becDme awaré of instances of noncompllance. The risk of not detecting a material misslatement resultirvj from fraud is higher than for one resulting from error, as fraud may involve colluslon, forgery, inlentional omissions, misrepresenlalions. or the override of Internal control. Use of our report Thls report is made solely to the charltable parenl company's members, as a body, In aC￿rdan￿ with Chapter 3 of Part 16 of the Companies ALt 2006. Our audit work has been undertaken so that We might stale to the charitable parent companys members those matters we are required to slate to them in an auditors report and for no other purpose. To Ihe fullesl exlent pemiitted by law, we do not accept or assume responsibility to anyone other than Ihe charitsble parent company and the charitsble parent company's members as a body, for our audit work, for this report, or for the opinions we have fomed. 11& (4.L¥ John Howard FCA (Senior Statutory Auditor) for and on behalf of Azets Audlt Services Statutory Auditor 2nd FI￿r, Regis Hous8 45 King William Street London EC4R 9AN 7 2>r 22 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Consolidated Statement of Flnancial Aclivities For the year ended 31 March 2024 UnreStrl￿ed Rastrl¢ted Funds Funds £'ooo £'ooo Total 2024 £'ooo Total 2023 £'ooo Notes INCOME FROM: Donations and Legacies Charitable activities Aspire Leisure Services Aspire Housing other trading activities Share of surplus from joint ventures Other incom8 322 592 914 1.018 1,362 373 779 114 100 1,362 505 779 114 100 1.186 415 667 199 100 132 Total income 3,050 724 3,774 3,585 EXPENDITURE ON: Raislng funds Cost of generating voluntary income Costs of trading subsidiary Charitable actlvities Aspire L8isure Services R8s8arch Aspire Housing Aspire Grants Promoting Independent Living Assistive Technology Welfare Benefits Capital grants funding Patienl Education 217 314 217 314 198 348 1,473 34 559 61 69 51 135 83 1,556 34 726 72 154 187 167 1.639 107 749 167 153 154 154 167 85 136 32 47 135 Total expenditure 3,001 3,562 3.671 NET EXPENDtfuRE AND NEf MOVEMENT IN FUNDS BEFORE GAINS AND LOSSES ON INVESTMENTS Transfer be￿een funds Gains on revaluation of investments 49 163 212 {86 (1) NET MOVEMENT IN FUNDS 162 212 186) RECONCILIATION OF FUNDS Total funds brought forward 1.378 624 2.002 2,088 Tolal funds carried fornard 12.13 1,428 786 2,214 2,002 CONTINUING OPERATIONS All income and 8xpenditure has arisen from continuing activities. The notes on pages 27 to 38 form part of thes8 financial statsments. 23 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REIKfEGRATK)N 'ASPIRE' Consolldated Balance Sheet As at 31 March 2024 2024 2023 £'ooo Notes rooo £000 As restated Flxod assets Tangible fixed assets Investments 232 1,351 242 1,238 1.480 Current assets Stock Debtors falling due after more than year Debtors falling due wtthin one year Cash and cash equivalents 7LK) 217 352 235 467 1,409 1,272 Creditors: Amounts falling due within one year 10 (608) (573} Net current assets 699 Tolal assets less current liabililieg 2.179 Credrtor6: Amounts falling due after more than one year 11 (170) (177) 2,214 2,002 Funds Restricted funds Unrestricted funds 12 13 624 1,378 1.428 1214 2.002 The financial Stat￿nents have been prepared in accordan￿ Vlith the special provisions of Pat 15 of the Companres Ad 2006 relating to small entittes. The financial Statements were approved by the Board on and signed on their behalf by". Nick Flanagan, Trustee & Treasurer The notes on pages 27 to 38 fomi part of these financtal statements. 24 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REIKfEGRATION 'ASPIRE' Charitable Company Balance Sheet As at 31 March 2024 2024 2023 £'ooo £'ooo £'ooo As reststed Flxed a¥sets Tangible fixed assets Investments 232 63 242 295 305 CuThent assets Stock Debtors Cash cash equivalents 427 177 1.243 1,020 Creditors: Amounts talling due within one year 10 {443} (3211 Net current assets 699 Total assets less current liabilitles 1,095 Creditor5: Amourrts falling due after more than one year 11 (170) {1771 925 827 FurKIs Restricted fvnd5 Unrestricted fiJTrJs 12 13 624 203 139 827 The finarrnl statements have been prepared in accorda￿ with the 6pecia pfovblons of Part 15 of the Companies Ad 201 relating to small entities. The fi'nanctal statements We￿ approved by the Board on and sigrEd on their behalf by: Nlck Flanagan. Trustee & Treasurer 11 2oL+ Date... The notes on pages 27 to 38 fonn part of these financial statements. 25 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Consolldatsd Cash Flow Ststement For the y•ar •ndod 31 Mar¢h 2024 2024 2023 £'ooo £'ooo £'ooo £'ooo AS r•$lat•d Re¢on¢lllatlon of net expondlture to net cash flow from operating a¢tivitios Net incomellexp6nditure) for the reporting period Adjustments for. Gain on investmènts Share of surplus from joint ventures Deprecialion Ilncreasel in stock Iln¢reaseyDecreas8 in debtors In¢rease in creditors 212 (86) {1141 58 (41 (171 28 (199) 70 Net cash flow from oporatlng actlvhles 163 (87) Cash flow slalement Not cash flow from operating actlvltles 163 (87) Cash flow from Investing aelivities Payments to acquire tangible fixed assets {48) (4) Not ¢ash flow from Investing activitleg (48) 14) Increase l (Dgcrèaso) in ￿$h R•conclllatlon of changes In cash Balanc8 al 1 April 2023 352 443 Increase I (Decrease) in cash 115 191) Balan¢0 at 31 March 2024 352 The notes on pages 27 to 38 form part of these financial statements. 26 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnanclal Statements For the year ended 31 March 2024 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements ar6 as follows: a) Basis of accounting The finanGial statements have been prepared in accordance with Accounting and Reporting by Charilies.. statement of Recommended Practice applicable to charlties preparing their accaunts 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 fo￿ 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 othe￿iSe ststed in the relevant accounting policy notes. The financial statements are presented in sterling {£) which is also the functional currency for the Charity. b) Conso17dation Where control is exercised by the parent charity over another entity. those entities ar8 consolidated as subsidiaries on a line-by-line basis in accordance with FRS 102 - section 9 and the Charities SORP (FRS 102). Details of thes8 entities are given in note 7 to the financial ststements. The Charity's Interest in jolnt ventures and joint arrangements are accounted for in accordance with FRS 102. The inv8Stments 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 m8thod. Details of these interests are given in note 7 to the financial statements. A s¶te statement of financlal activities for the charitable company has not beèn presented because the charitsble company ha5 taken advantage of the exemption afforded by sèction 408 of the Companies Act 2006. c) Preparation of the accounts on a golng ¢oncorn basis The Trustees have considered the impact of the cost of living crisis, inflation, increases in utility costs and rising employment costs on the future viability of the charitsble company and the expected level of income and expenditure for the 12 months from the date of authorising these financial statements. The projected in¢ome and expenditure of the charitable company together with the leval of its resourc8S is SLffi¢ient for the charitsble company to be able to continue as a wing concem. The Trustees continue to take all thè available steps to maintsin sufficient resourcès In orderthatthe 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 COn￿M basis. d) Judgements and key sources of estlmatlon uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectstions 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 tsngible assets and tho 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 annualty. They are amended when necessary to reflect current estimates, based on lechnological advancement, fLrture 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 conceming 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 ffinancial yèar. 27 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notss to the Flnanclal Statements For the year ended 31 March 2024 ACCOUNTING POLICIES - contlnued e) Legal status Aspire is a company limited by guarantee and has no share Capital. The Ilability of each member in the event of a winding up is limited to £1. Funds accountlng 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 whèn funds are raised for particular restiicted purposes. Designated funds - thasa are funds set aside by the Trustees out of unrestricted general fvnds for spacific future purposes or projects. Unrestricted general funds- th8S8 are funds which can b8 used in accordance with the charitsblè objects at the dlscretion of the Trustees. g) Ineomo All income is included In the Statement of Financial Activltles when the Charity is entitled to the Income an(f the amount can be quantified with reasonab18 accuracy. The following specific policles are applied to particular categories of income: Voluntary income including core grants, sponsorship, donations and gifts is includ6d in full In the Statement of Financial Activities when rec8lvable. Grants, where entitl6m8nt is not conditional on the delivery of a spaclfic perfOMan￿ by the Charity, are recognised when the Chaiity becomes uncondilionally entitled to the grant. IncomirvJ resourcas from charitable activiiies comprises income from carrying out the Chaiity's activities. including the operation of the National Training Centre and the supported housing. Investment income is included when receivable. h) Expendtture Expendlture is accounted for on an a¢¢ruals basls. The irrecoverable element of VAT is included with the itam of expense to which It relates. Costs of g8nerating funds are those costs incurr8d In attracting voluntary inwme. Charitable expenditure comprlses those costs incurred by the Charity in the delivery of ils activities and seNi¢es for Its beneficiaries. It includes both costs allocated directly to such a¢tiviti6s and those costs of an indirect nature ne￿$Sary to support them. Govemance costs indude those incurred in the govemance of the Charity and are primarily associated with constitLrtlonal and ststutory requirements. l) Support costs allocation Support costs are those that assist the work of the Charity bul do not dire¢tly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are inCu￿ed 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 ralslng funds and expenditure on charitable activities on a basis consistent with us8 of th8 resources. J) Government grants Govemment grants are re¢ognised at the fair value of the asset re￿IVed or receivable when there is reason- able assuranc6 that the grant conditions will be met and the grants will be received. A grant that specifies perfomiance condllons is rec(ynised in income when the perfomiance conditions are met. Where a grant does not specify perf0m￿nCe condltlons it is recognised in income when the proceeds are received or receivable. A grant recelved before the recognition criteria are satisfied is recognised as a 28 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Financlal s￿￿0Ments For the year ended 31 March 2024 ACCOUNTING POLICIES- continued k) Tangible fixed assets Depreciation on all langible f￿ed assets is calculated to ￿lte-Off their cost over their 8Stlmated useful lives at the following annual rates: Leasehold improvements Office fixtures & fittings Computer 8quipment 3- 20 years 10- 33% per annum on cost 33°/0 per annum on cost Fixed asset investments Fixed asset investmenls are included at market value al Ihe balance sheet date. Any gain or loss on revaluation is taken to the Staiement of Financial Activities. Investments in subsidiaries and programme related investments are measured at cost less impaimient. Such investments are subject to review with any diminukn'on in value is charged to the Statement of Financial Activities. Programme related investments ar8 social investments made dlrectly in pursuit of the Charity's ¢harltsbte purposes. m) Stock stock is stated at the lower of cost and net realisable value. n) Debtors and cradltors re¢elvablelpayable wlthin ono year and after one year Debtors and creditors with no stated interest rate and receivable or payable within one year and aftgrone year are recorded at transaction prlce. Any losses arssirvJ from impaimient are recognisèd in expgnditure. o) Cash and cash equlvalents Cash 8t bank and cash In hand indudes cash and short temi highly liquid investments with a short maturlty of thre8 months or less from the date of acqulsition or opening of the depostt or similar account. p) Flnancial Instruments The Charity has only financial assets and financial liabilltles of a kind that qualify as basic financial instruments. Basic financial instruments are initialty recognised at transaction value and subsequ8ntly measured at their settlement value. q) Forelgn Currency Foreign currency transactions are initially re￿nised by applying the foreign currency amount at Ihe spot exchange rate be￿een the fvnctional 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 raté. Employee beneflts Short tem employee benefits, including holiday entiuement and other non-monetary benefrts, and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. s) Taxatlon 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 tsx purposes. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnanclal Statements For the year ended 31 March 2024 VOLUNTARY INCOME DONATIONS AND LEGACIES Unrestricted Funds Restrlcted Funds 2024 £'ooo 2023 £'ooo Donations Grants received 315 222 370 537 377 549 469 322 592 914 1,018 OTHER INCOME Unrestrlcted Funds Restrict Fund8 2024 £'ooo 2023 £'ooo Dividend receivable from Aspire Law LLP 100 100 100 100 100 100 SHARE OF SUPLUS FROM JOINT VENTURES Unrestricted Funds Restrlcted Funds 2024 £'ooo 2023 £'ooo Share of surplus from Aspire Law LLP Share of surplus from Aspire + Wealth Mana3ement Ltd 107 107 177 22 114 199 OTHER TRADING ACTIVITIES- SUBSIDIARY UNDERTAKING OF ASPIRE FUNDRAISING LIMITED The profrt of the $ubsidiary undertaklng, Aspire Fundraising Limited. is gifted to tha 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: 2024 £'ooo 2023 £'ooo Tumover Cost of sales 779 {145) 667 (128} 634 {169) 539 {220} Operating costs Operating profft Interest received 465 319 Net Income of tradlng subsldlary 319 Distributions to parent made under gift aid (465) (319) Retained in subsidiary 30 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILrrATION AND REINTEGRATION 'ASPIRE' Notes to the Flnanclal Statements For the year ended 31 March 2024 EXPENDITURE Staff costs Direct costs £'ooo £'ooo Support £'ooo Total 2024 £'ooo Total 2023 £'ooo Raising funds: Cost of generaiing voluntary income Costs of trading subsidiary 165 87 38 227 14 217 314 198 348 Charitable expendlture: Aspire Leisure Services Research Aspire Housing Aspire Grants Promoting Independent Living Assistive Technology Welfare Benefits Capital grant fund Patient Education 909 34 251 16 122 140 141 353 1,556 1.639 107 749 167 153 458 56 23 45 26 17 726 72 154 187 167 154 103 32 135 1.968 1.258 336 3.562 3,671 All costs are allocated between the ex￿nditUre categories noted above on a basis designed to reflect the use of the resource. Costs relating to a particular activty are allocated diredy, others are apportioned on an appropriate basis. for example, time spent, per capita or floor area. Grants paid to individuals during tho year tota116d £71.673 (2023.. £166,835). Induded in support costs are govemance costs of: 2024 £'ooo 2023 £'ooo Audltorfs remuneration: For aL￿1t - For other SeNi￿S 24 20 22 STAFF COSTS 2024 £'ooo 2023 £'ooo Wages and salaries Social security costs Pension contributions Recruitment 1.781 119 65 1.772 115 62 1,968 1.951 None of the Trustees received any remuneration or beneffts during the year (2023: none). Expenses totslling £nil were reimbursed to Trustees during the year (2023: £nil). The number of employees whose annual emoluments were £60,000 or more were: 100.001- 110,000 Totsl contrlbutions in the year for the provision of money purchase benefits for higher paid stsff were: Number of stsff to whom retiremént benefits are accruing Total contributions in the year £19,601 £18,106 The totsl aggregate remuneration paid to key management personnel during the year was £315,699 {2023: £307.369}. 31 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to thè Financial Statements Fortho yoar ended 31 March 2024 STAFF COSTS - continued The av8rage number of employees during the year was as follows: Group Charity 2024 2023 2024 2023 Aspire Leisure Centre Other Tradlng subsidiary 69 39 62 36 69 39 62 36 113 103 108 98 TANGIBLE FIXED ASSETS Flxlures, Flttlngs and Computers £'ooo Leasehold Improvements £'ooo Group and Charity Total £'ooo Cost At 1 Aprfl 2023 Additions 774 575 48 1,349 48 At 31 March 2024 774 623 1.397 Depreciation At 1 April 2023 Charge for the year 504 19 1.107 58 39 At 31 March 2024 642 523 1,165 Net Book Value At 31 March 2024 132 100 232 At 31 March 2023 171 71 242 In the opinion of the Trust6es the building comprising the A$pire Leisure Centre has a £nil value due to it being sited on land leased from the Royal Natlonal Orthopaedic Hospital and hence subject to certain restrictions. On this basis the building and certain associated equip.ment have been shown in the accounts of Aspire at a cost of £nil, belng depreciated cost less capital grants received. 32 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnanclal Statements For the year ended 31 March 2024 INVESTMENTS Group Charity 2024 £'ooo 2023 £'ooo As reslated 2024 £'ooo 2023 £'ooo Shares in subsidiary undertakings Programme related investrnent (note 7.1) Other investments {note 7.2) 50 13 50 13 50 13 13 63 63 63 63 Investment in joint venture- Share of net assets in Joint Ventures 1.288 1.175 1.351 1.238 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 Aspire Lelsure Centre, Wood Lan8, Stanmore, Middlesex, HA7 4AP. Asplre is the beneficial owner of 1 ordlnary Share of £1 each of Aspire Tradlng 2014 Limited, a company incorporated in England on 27 January 2014, company registration number Is 08863046, registered office Aspire Leisure Centre, Wood Lane, Stsnmore, Mlddlesex, HA7 4AP. Aspire Trading 2014 Llmited is a holding company which holds an investment In a joint vènture consisting of 50 % control in Aspire Law LLP. Aspire is the beneficial owner of 1 ordinary share of £18ach of Aspire Tradlng 2020 Limit8d, a company Incorporated In England on 13 January 2020, company registration number is 12398051, registe￿￿ office Is Aspire Leisure Centre, Wood Lane, stanm0￿. Middlesex. HA7 4AP. Aspire Trading 2020 Limited is a holding company which holds an investrnent in a joint venture consisting of 50010 control in Aspire + Wealth Management. 7.1 PROGRAMME RELATED INVESTMENTS Group and Charity 2024 £'ooo 2023 £'ooo Cost as at 1 April Additions at cost Cost as at 31 March 50 50 The programme related Investment relates to initlal funding required In the set-up of Aspire Law LLP. The value of the prc*3ramme related investment al the year end is shown at cost. Aspire Law LLP furthers the objectives of Aspire by providing a specialist seNice to people with spinal cord injuries. 33 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Financial Statements Forthe year ended 31 March 2024 7.2 OTHER INVESTMENTS Group and Charity 2024 £'ooo 2023 £'ooo Market value at 1 April Gain on revaluation 13 13 Market value at 31 March 13 13 Historical cost at 31 March 10 10 CCLA 13 13 Other investments are held by CCLA Investment fund. STOCK GTOUP Charlty 2024 £'ooo 2024 £'ooo 2023 £'ooo 2023 £'ooo Goods for sale DEBTORS Group Charlty 2024 £'ooo 2023 £'ooo 2024 £'ooo 2023 £'ooo Amounts falling due within one year. Trade debtors Oiher debtors Amounts owed by subsidlarles Amounts owed by joint venture - Aspire + Wealth Management Ltd Prepayments and accrued income 711 737 11 209 194 89 97 235 217 809 843 34 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Not06 to tho Flnancial Statements For the year ended 31 March 2024 DEBTORS - contlnued Group Charlty 2024 £'ooo 2023 £'ooo 2024 £'ooo 2023 £'ooo Amounts falllng due after mora than one year: Amounts owed by joint venture 700 700 700 700 Total debtorn 935 917 809 843 n July 2019 it was agreed wlth the Aspire Law LLP'S joint venture partners that £700,000 would be converted into capital. As a result, £700,000 was revdesignated in July 2019 from debtors falling due with wiihin one year to debtors falling due after more than one year. 10. CREDITORS: Amounts falling due within one year Group Charfty 2024 £'ooo 2023 £'ooo As restated 2024 £'ooo 2023 £'ooo As restated Trade creditors Other ¢r8dltors Othèr taxes and social se¢uiity costs Accwals and deferred income Amounts owed to subsidiaries 117 32 35 424 157 26 36 354 76 32 122 26 36 137 205 95 608 573 443 321 11. CREDITORS: Amounts falllng due after more than one year Group Charlty 2024 £'ooo 2024 £'ooo 2023 £'ooo 2023 £'ooo Other creditors 170 177 170 177 170 177 170 177 Other creditors due after more than one year represents loan notes which origlnally matured in 2024, however both loans now have extended repayment tems. There are loans with principal amounts ot, £11J),000 and £99.000. The £1 Ook loan has b66n reduced by £22k in the prlor year and £7k in the year. resulting in a balance of £71k as at 31 March 2024. The loan is anticipated to be repaid by 2028. If the £71 k loan is not paid when due, interest on the unpaid amount shall start to accrue at the rate of 60/0 per annum. Th8 £99k loan has no interest charge and has a repayment date of 2028. If the loan Is not paid when due. interest on the unpaid amount shall start to accrue at the rat8 of 40/0 par annum. RESTRICTED FUNDS Balance 1 April 2023 £'ooo 12. Investment Gain and Transfers £'ooo Balance 31 March 2024 £'ooo Group and Charity Income £'ooo Expendlture £'ooo Aspire Housing Fund Independent Living Fund Housing SeNices Fund Welfare Benefits Assistive Technology Fund InstruciAbility Prograrnme {Sports England} Patient Education Fund NHS England (Patlent Education and Housing) REX Bionlx Fund Motsbilty Fund 475 24 (49) (851 (34) {321 (136) 429 23 84 45 58 197 26 81 20 60 10 {83) {10) 13 67 150 (121) (1) 120 {11) 109 624 724 (561) (1) 786 35 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnancial Statements For the yèar ended 31 March 2024 12. RESTRICTED FUNDS - continued Aspire Housing provides fully accessible homes in the local community in key locations in EnglarKI, Wales and Scotland for newly discharged patients. Splnally injured individuals can temporarily 5ive In a spe¢lally adapted and fully accessible Gomfortabl8 environment on their own or with their famlly whilst arrangements are made to meet thelr long-temi housing needs. The Charity is extremely gratefvl to Thomas Gibson and supporters of the Harebell Appeal. Th8 Inde￿ndent Living Fund has been supported by grants from the ScottishPower Foundation, South- ampton Hospitals Charity, The Childwi¢k Trust. The Eveson Trust, The Moondance Foundation, The No ble Charitable Trust, The Sir George Martin Charitable Trust, National Lottery Awards for All Northem Ireland and sponsorship from Aspire Law LLP. Thls money is given in support of employlng Independent Living Advisors who provide direct practical support. infomiation and guldance to new spinally injured patients and for the management of the team of Independent Living Advisors. Housing Service Fund is set up to support the cost of providing general housing services. The Charity is 6xtrem8ly gratefvl to the B wce Wake Charitable Trust. P F Charitable TrusL Thè Barratt Foundation, Pilkington Charities. Fund, The Chlldwlck Trust, The Gra¢6 Trust, Th8 Moondance Foundation and The Sovereign Health Care Community Programm6. The Welfare Benefits Fund has been supported by the City Bridge Foundation, The Hadrian Trust, Thè Lawson Trust and The Moondance Foundation. The Charity is extrematy grateful to Aspire + Weatth Management and the National Lottery Awards ft)r All England for supporting the Money Matters Servlce. The Assistive Technology programme provides specialist computer equipment. SO￿are and training support to teach people with a spinal cord injury with limilèd or no upper limb function to operate a smart phone, tsblet or computer. This seryice is provided through occupational therapy departments and dedi- cated rooms to give palb6nts valuable access to the intemet and pemiits communication with family. friends and work Colleagues worldwide. The Charity is extremely grateful to have been supported by gen- erous grants from Reaching Communities En9land, Th& Moondance Foundation, The lan Karten Chari- table Trust, The Access Foundation, The Ev&son Trust, Shanly Foundation, Southampton Hospitals Charity, The Christopher Lalng Foundation, The Hodge Foundation, The James Tudor Foundation, The Steven Blcth Image of Disability Charitsble Trust, The lan Askew Charitsble Trust, The Walter Guinness Charitable Trust, The Za¢hary M8rton and George Woofindin Convalescent Trust and Aspire Law LLP. The Capitsl Grants Fund represents grants receiv6d for the purchase of tangible fixed assets and is re- leased at a rate consistent with the depreciation charged on these assets. The InstruclAbility Pr(KJramme supports the training of disabled people to become ffithess professionals throughout England. The new phase of the programme will move to launch guidance for the sector own- erslmanagers, training providers and dlsabled people. In this last year, the Charity has be8n moving to the conclusion of thls project. The Patient Education Fund provides support funding for the Aspire Patient Education Adminlstrators who support the spinal cord Injury centres in the management of their patient education programmes. Th8 Charity is extremely grateful to The MOOndan￿ Foundation, Tha Hospital Saturday Fund, National Lottery Awards for All Scolland and Tha Hugh Fraser Foundation. NHS England grant of £450k over a three-year period has been awarded to Aspire to support the NHS Improvements Spinal Cord Injury ServiGes work. This fvnding will support Aspire's Housing Advica Ser- vi￿. Community Support and Patient Education. Motsbllity Fund has been set up, with thanks to the Motabilty Foundation and DVS Foundation. to pro vide grants to spinal cord Injured people to provide financial support towards the purchase of wheel- chalrs and specific iiems of need that they would otherwise not b8 able to afford. (iv) (v) (vl) (vll) (Ix) (x) 36 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnanclal Statem8nts For the year ended 31 March 2024 13. UNRESTRICTED FUNDS Balance 1 April 2023 £'ooo As rostated Investment Gain and Transfèrs £'ooo Balance 31 March 2024 £'ooo Income £'ooo Expendlture £'ooo Group Deslgnated Funds Your Fund 19 180 (53) 146 19 180 (531 146 Other Aspire- other reserves Aspire Law LLP Aspire Wealth Management Ltd 185 1.152 22 2.756 107 (2,948) (6) 1,259 29 1,378 3,050 3,001 1,428 Charity Designatsd Funds Your Fund 19 180 (53) 146 19 180 153) 146 Other Aspire- other reseryes Aspire Wealth Management Ltd (note 17) 184 2.442 {2,634) {7) 203 2,622 {2,687) 139 Designated Funds fom) part of Unrestricted Funds and are amounts set aside by the Trustees to meet specific future r8quirements of the organisation. Further detsils of the fvnds are shown below: Your Fund delivers the same fvnction as Aspire Grants but allows benefactors to raise money and donate for specifi¢ purposes. 14. ALLOCATION OF NET ASSETS The net assets of the Group are held for the various funds as follows: Fixed Assets Investments £'ooo £'ooo Current Assets £'ooo Current Llabiliti88 £'ooo Long term Llabllltles £'ooo Total 2024 £'ooo Total 2023 £'ooo Restricted Funds Unrestrlcted Funds 1.322 {536) 1.945 786 1,428 624 1,378 232 (579) {170) 232 1,322 1A09 (579) {170 2,214 2,002 15. RELATED PARTh TRANSACTIONS There ar8 no12023'. none) related paty transactions that require disclosure in the financlal ststsments. other than those alréady disclosed. 16. ULTIMATE CONTROLLING PARTY The charitsble Gompany18 ¢onsidered to have no ultimate Controlling party. 37 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notss to the Flnancial Statemant8 For the year ended 31 March 2024 17. PRIOR YEAR ADJUSTMENT The Group's intsrest in the joint venture, Aspire + Wealth Management Ltd, has been amended to reflect th& Group's share of surplus in the joint venture. Th8 effect of this adjustment on prior year figures within the Charity has been to.. Decrease InGome £22,000 Increase creditors £22,000 Decrease unrestricted fvnds for 1 April 2023 £22,000 The effect of this adjustment on prior year ￿ureS within the Group has been to: Increase investments £22,000 Increase créditors £22,000 Impact on funds £nil 38