ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRA TION Aspire REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Registered Company No. 03744357 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' CONTENTS Pages Reference and Administrative Detsils Chaiman's Report Report ofthe Trustees 3-20 Independent Auditor's Report to the Members 21-22 Consolidated Statement of Financial Activities 23 Consolidated Balance Sheet 24 Charitable Company Balan￿ Sheet 25 Consolidated Cash Flow Ststement 26 Notes lo the Consolidated FinanGial Ststements 27-38 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Reference and Admlnistrativ• Dotalls PRESIDENT J Inverdale VICE PRESIDENTS A Bloom A H Lambert A Jones A Sparkes Dr S Patel CHAIRMAN J Wautier VICE CHAIRMAN N Flanagan CHIEF EXECUTIVE B Cadin MBA TRUSTEES & DIRECTORS A Chaplin Dr M Fennelly N Flanagan S Gardiner H Mehta J Sacks Dr P Thumbikat J Wautier R Wilmol CHARITh NUMBER 1075317- England & Wales SC037482 - Scotland COMPANY NUMBER 03744357 BUSINESS ADDRESS Aspire Leisure Centre Wood Lane Stanmore Middlesex HA7 4AP REGISTERED OFFICE Aspire Leisure Centre Wood Lane Stanmore Middlosex HA7 4AP AUDITOR8 Azets Audit SeNices 2nd Floor. Regis House 45 King William Street London EC4R 9AN BANKERS CAF Cash Limited Kings Hill Wesl Malling Kent ME19 4TA Melro Bank One Southampton Row London WC1B SHA SOLICITORS Broadfield Law LLP One Bartholomew Close London EC1A 7BL ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Chairman's Roport Every hours someone in the UK is paralysed by a spinal cord injury. The latest NHS National Spinal Cord Injury Database shows there are twice as many injuries as previously thought, and almost fyvo thirds of newly injured people never reach a specialist spinal cord injury ￿ntre. What follows the initial trauma is too often a postcode lottery of delayed admissions, limited rehabilitation, unsuitable housing and weak community Sltpport. As Chair of Aspire, I do not accept that as inevitable. This year we worked with all the spinal injury ¢harilY&s, through the All-Party Parliamentary Group on Spinal Cord Injuries Inquiry, to call on the Government lo develop a rsational spinal cord injury strategy. Evidence and recommendations We￿ presented in November 2025. The aim is lo move from a fragmented patchwork of services to a coordinated system that gives people a fair chance to rebuild their lives. In March 2024 we launched Aspire's new five-year strategy. We aim to reach 250/0 more people with spinal cord injury with high quality services, and lo do so sustainably by strengthening our cash reserves. We have already made strong progress. Our Assistive Technology service is now estsblished in London hospitals. and funding has been secured to extend it to Addenbrooke's Hospital in Cambridge from January 2025. OUT Patient Education setvice now operates in almost all NHS England spinal cord injury Cent￿S. helping patients build the knowledge and confidence lo manage their condition before and after discharge At the same time, we Cannot ignore that almost Iwo thirds of newly injured patients never reach a specialist cenlre. Our Aspire Independent Living Advisor Service is seeing growing demand from major trauma centres and general hospitals. We are now providing regular support al Hillingdon Hospital and working with other hospitals across London. Beyond hospital, financial pressure and inaccessible housing remain maior barriers lo rebuilding an independent life. The first year of the reintrodU￿d Aspire Grants programme, run in partnership with the Motability Foundation, allowed people with spinal cord injury to buy 5peaalisl mobilrty equipment they could not otherwise afford. Separately. a j01nl application by Aspire and the Spinal Injuries Association to the National Lottery secured just under £500.000. enabling a 25910 increase in Welfare Benefits Service capacity and supporting the costs of the Housing Advi Service Last year, the Welfare Benefits team recovered over £800,000 in benefits that would otherwise have been denied to our clients, and the Housing Advi￿ Service helped almost 200 people move from inaccessible accommodation into suitsble permanent homes. We are also managing Aspire's resources carefully. SLSPPOrt from the Swimming Pool Support Fund enabled the installation of solar panels al the Aspire Leisure Centre, redvcing both our carbon footprint and our energy costs. Despite this progress, financial pressures remain. Several fundraising challenge events delivered significantly less income than expected. while changes lo employers, National Insurance contributions added around £55,000 to our employment costs. l am Proud of the way our staff responded.. through careful management and determined fundraising they improved Our Posltion and kept us on track. Aspire's work is only possible because of the generosity of trusts and foundations, individual donors, community fundraisers, corporate partners and volunteers. l am deeply grateful to our staff for their professionalism and compassion. and to my fellow Trustees for the expertise and commitment they bring to the Board. The need in our community is growing and the system around us is under strain. Yet Aspire is clear about its purpose, realistic about the challenges and ambitious for what people with spinal cord injury should be able lo expect. 11 is a privilege to serve as Chair al sueh a critical time. J Wautier- Chair ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees The Trustees, who are also d1￿CtorS of the charitable company for the purposes of the Companies Act 2006, have pleasure in presenting their report and financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice {SORPI "Accounting and Reporting by Charities. IFRS 1021 in preparing the annual report and financial statements of the Charity. The financial statements have been prepared in a¢cordan¢e with accounting policies set out in notes lo the accounts and comply with the Charity's governing document, the Companies Act 2CK)6, the Charities Act 2011, provisions of the Charities Act 2022 in force at the time of preparing these aceounls, and Accounting and Reporting by Charities. Statement of Recommended Practiee applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Charitablg Objectives Aspire exists to provide practical help to people paralysed by spinal cord injury, 5UPPOrting them from injury lo independence. Aspire was founded in 1983 to work with people wth spinal cord injury to create opportunity. choice and independence through its activities in rehabilitation, reintegration arbd research. Its office is in Stanmore in Middlesex, alongside the London Spinal Injury Centre at the Royal National Orthopaedic Hospital Trust IRNOH}. Aspire fulfils ils objectives through three key areas of work, namely, rehabilitation, reintegration and research. Rehabilitation Aspire provides practical support to people with spinal cord injuries from the time of their injury through lo discharge from Spinal Injury Centre and onwards for the rest of their lives. Aspire has developed a range of services, which it believes offers individuals a nurturing and rehabilitative environment that will enable them to achieve their full potential. It is Aspire's aim to deliver and build on these services throughout the UK. Aspire provides Independent Living servI￿s that include highly trained spinal cord injured Independent Living Advisors who work in almost all the specialist Spinal Injury Centres throughout the UK. They are there to SLtpport patients from the earfiest stages of rehabilitation and to help advise on a wide range of topics lo support living independently once disd)arged from hospital. Patient education in the Spinal Centres is sypported by Aspire Patient Education Administrators who work to ensure the highest qijalily and consistency of provision for patient education. Our Patient Education staff also undertake assessments of patient knowledge and underslanding in managing their condition pre and post discharge. Aspire aims to ensure no patrent Is ￿n￿e￿$SarIlY readmitted to hospital due to the development of a secondary complication due to a lack of understanding of managing their condition. The Aspire Assistive Technology Services operate in five of the Spinal Injury Centres and provide patients, with limited or no upper limb function, help to access their smart phone, tablet or computer. Trained with this technology, patients can Stay connected with family and friends and develop skills to continue with education gr return to work or just stay connected with the world. Reintegration Aspire provides a range of practical services to support people with a spinal cord injury lo reintegrate into society and lead a fulfilled and independent life. Aspire provides fully fumished temporary accessible homes for those waiting to be discharged from hospital so that they may be reunited with their family and start living their life again whilst wailing for a permanent home lo be made available. The Servi￿ supports the discharge needs of spinal injury patients through the provision of our Housing Programme. The Housing Case Management Service was introduced in re￿nt years to support those living in UnaC￿ptab1e and inaccessible accommodation to enable them to improve their housing situation. Our Weware Benefits Advice Service ensures that spinal cord injured people are receiving the benefits that they are entitled to receive whilst also being offered the support of our Money Matters Service, which provides guidance on personal money management. Aspire Your Fund provides a tsx efficient method of fundraising in support of spinal cord injured people to help them purchase speryalisl equipment they would otherwise not be able to afford the￿fOre providing them with greater independence for everyday living. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the TrustsÈs Reintegration (continued) The Aspire Grants programme provides grants to spinal cord injured people lo provide financial support towards the pur- chase of wheelchairs and specific items of need that they would otherwise nol be able lo afford. The Aspire Leisure Centre was Europe's first fully inclusive leisure eentre for disabled and non-disabled people. The first phase of the centre's development officially opened in 1990, with the second phase opening in 1998 and it is the showpiece of the Charity's unique approach to breaking down the barriers be￿een non-disabled and disabled people. As well as stale- of-the-art rehabilitation, physiolherapy and oceupalional therapy suites, the ￿ntre offers a large range of sporting, dance and leisure activities, all of which are fun on an inclusive basis - where non-disabled and disabled people can take part side-by- side. The centre enjoys approximately 400,000 active visits each year, with 32Yo of membership and approximately 28Yo allendance by disabled cust¢yners. The Aspire multi award-winning innov3tive project, InstructAbility, was developed to train disabled people lo become frtness professionals with a twelve-week supported work placement. 11 works with Sport England and the industry membership organisalions lo create a lasting change of true equality for disabled employees and customers. Our aim is to create a UK leisure industry where disabled people are made to feel more welcome whether as a professional or service user. Research Aspire has, from its in￿pIlon. been excited by the possibilities of technology. The Charity is detemiined that people with spinal cord injuries should benefit from the cutting edge of new developments in this field. To that end, Aspire has invested over £3 million in support of our Aspire Centre for Rehabilitation Engineering & Assistive Techriology (Aspire CREATel since 1996 through University College London IUCLI and the Instrtute of Orthopaedics and Musculo-skeletal Science, based al RNOH Stanmore This research centre focuses on the development of cost effective and Practical technologies that can improve the lives of disabled people and the outcome of treatment, through the use of improved technology. Strategies for achieving those objectives Aspire will continue lo manage relationships with housing associations in key geographical locations, al￿adY identified, to maintain our fully accessible housing stock. Aspire will work in partnership with the housing associations toward new build projects and present a case to gain access to existing housing stock where reasonably practicable. We have forged strong relab'onships Wlth the occupational therapists al all Spinal Injury Centres where our Assistive Technology facilities have been placed. We are now working with the NHS East of England group and the London Spinal Cord Injury Network Board to support spinal cord injured patients. We continue to work with and report to our funders, who support our programme, to ensure they are kept informed of all developments and benefits to the spinal injury community and maintain an understanding of the latest technological developments. Our programme is delivered by highly skilled professionals in five ol the nine Spinal Cenlres and seve¥al hospitals in London. We host an annual conference which is allended by representatives from all the Spinal Injury Centres to share our knowledge and demonstrate the latest technological developments. A national service of Aspire Independent Living Advisors provides piacb'cal support and advice on living life wtth a spinal cord injury. They ensure newly injured patients are infomied of all the services available to support them and of the practical solutions lo problems that Aspire and other charities and organisations can provide. Aspire will undertake constant reviews and assessments of our fundraising throughout the year to ensure we achieve the most effedive and efficient fundraising results. Aspire is currently working lo a fundraising plan lo ensufe our fundraising can meet the additional serVI￿S we plan in the future. The Fundraising and Marketing Committee continually monitors this work to ensure compliance with our annual plan and budgets. In 2024. we developed a five-year strategy that would," 11 provide the highest quality support lo positively impact as many spinal cord injured people as practicably possible, reaching 250/0 more people by 2026, 21 support its services through increasing fundraising nel return and organisational operational cosl efficiency. and 31 build financial stability and resilience through the continuing development of strong alternative income generation. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees How objectives link to longer temi strategies and obje¢tiVOS In 2020, Aspire introdU￿d a short-temi strategy to support the Charty through a recovery 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 finaneial position and reserves. That strategy, and the dedication of our staff, volunteers and supporters. helped secure stability and gave the Charity the Confiden￿ to look to future growth and development. In 2024, the Senior Leadership Team, in collaboration with staff, clients and other stakeholders, undertook a full strategic review of the organisation. This exercise began by examining the impact and benefits of what we do, exploring whether our services are still needed, and whether they meet all the demand that exists. Armed with that background, a comprehensive five-year strategy was developed that aims to.. ensure the stability of our vital setvices in the years lo come". strengthen our services so that demand pressures do not compromise the qualty of service we are known for", and, in time, allow us lo look at ways we can better meet unmet needs. Aspire's five-yeai strategic document is based on thorough research, detailed knowledge of our sector, sound financial decisions and a determirbalion to deliver services that make a tangible impact on our clients. lives. As an overarching document that maps our development, our annual objectives naturally work towards the milestones sel in that strategy. As we enter year ￿0, those objectives and milestones are completely aligned. In time, the shorter-lerm nature of annual objectives will allow us lo better respond to opportunities and threats, and we can expect to see them diverge from the milestones we've set far in advance. Yet however much they do vary there will a￿ayS be an acknowledgement of the core prinaples sel out in our strategy. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees PERFORMANCE SUMMARY Ob-ective Independent Living Improve relationships at a local level between Aspire's Athiisors and their r￿lon31 representatives from SIA and Bad( Up. ensure regular catch ups are held locally and that referrals be￿een the charities are efficient and effective. Outcomo Every member of oijr Advisor team met up with their counterparts from Back Up and SIA during the year to discuss local-level referrals and lo improve understanding of the work of the different charities. Patient Education Seek opportunities to engage with Major Trauma Centres and Gen- eral Hospitals,. identify their ability to deliver Patient Education to long-term patients,. identtfy key gaps in provision and seek expert guidance as to suitability of ses- sions", seek ways to meet needs. Deliver three focus groups lo as- sess patient pereeption of Patient Education., review previous focus groups, Mind the Gap and post discharge data to identrfy frame- work of issues to explore., secure agreement from three spinal cen- Ires to host the groups", hold groups, collate findings and pro- duce a report. Review the development and deliv- ery of Aspire's Patient Education Programme at the culmination of Ihree year of NHSE funding", high- light positive developments, iden- tify areas for improvement and make recommendations for future work. We have held meetings with a number of hospitsls across the country and are establishing relationships that should see the introduction of ovr posl4ischarge monitoring for patients who do not make it to a Spinal Centre. We have been able to share best practi￿ and resources with some of these hospitals, and members of their staff are now attending our regular Patient Education Clinical Working Group meetings. Focus Groups were delivered at Slanmore and Stoke Mandeville", unfortunately, other sessions had to be cancelled and could not be rescheduled. The findings were consistent with previous research and were shared with the specific Cenlres and as part of OUT overall ￿pOrt on Patient Education. 3. A full report was produced and submitted to NHSE. Welfare Benefits Review the service's ability to sup- port refugees and asylum seekers, undertake training where there are skills gaps and ensure the service is meeting this need. Improve awareness of Welfare Benefits servi￿ amongst Spinal Centre and other hospital staff., seek opportunities to promote the Service and provide training on key benefits issues lo those staff who support patients. Our Service Manager carried out a review of our capabilities to support refugees and asylum seekers and Klentified the best routes to delivering this support. With guidance changing regularfy, il was decided that maintaining appropriate knowledge within the team was not the best solution and instead appropriate routes to specific support were identified so that other organisations could be brought in as required. GeneTal overview training was undertaken lo ensure accurate signposting could lake place. The service operated at capacsly throughout the year which limited our ability to proactively promote our work and meant that increasing referrals to the service would have reduced our ability to respond Whilst we worked closely with a number of the Spinal Cent￿s, we made a onscious decision not lo increase our profile whilst we were incapable of then meeting any signrficant increase in demand. We did continue to provide advi￿ and support lo staff who reached out for assistance when they were working with patients. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRA TION 'ASPIRE' Report of the Truste•$ PERFORMANCE SUMMARY- contlnued Ob'ecllve Aspire Housing Programm• Review the Aspire Housing Pro- gramme, including impa¢l, financial risk, and efficiencies that can be made to how the service is deliv- ered. Make recommendations for short and longer-temi changes. Seek to engage with general hospi- tals with a view to helping their staff prepare patients for discharge and ensuring accurate and timely refer- rals to Aspire. Build on the work of the new style Housing Forums at Stoke Mandeville and roll out lo at least Iwo other Spi- nal Centres. Outcome A large-scale review was not undertaken, in part beeause a change of Housing Manager meant that time had to be devoted instead to building knowledge within the team before slrategic-level issues were addressed. Focus instead was platsd on reviewing policies and practices within the department lo ensure improved efficiency and better outcomes for our tenants. The Housing team has worked closely with the Patient Education team as they have engaged with general hospitals. This has allowed us lo build our links to those hospitals, improving our visibility and increasing referrals and requests for support. The Housing Forums continued with Stoke Mandeville, and sessions with our Advisors also took plaee WTth the team at Slanmore. Interest was received from two other Spinal Centres,. although no fomal sessions were undertaken, this has helped improve working Telation5hips between the teams. Assistive Technology 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 suitsble way for distrib- uling key infomation lo staff, hospi- lals and other interested parties. Work with the Spinal Hubs in the East of England to introduce an As- sistive Technology servi￿. Review the London and South East AT Service and make recommenda- lions for future development. This work was not started. A change in department manager meant day lo day operations of the existing Servi￿ took priority and this project was postponed. We worked closely wrth clinical staff in the East of England, ultimately securing agreement to base an Assi51ive Technologist al Addenbrooke's hosprtal. Funding was secured, recruilmenl undertaken and our member of stsff started in January 2025. Feedback from both patients and staff has been overwhelmingly posltive. A review of the service highlighted the positive impact our intervention is making, with feedback from staff and clinicians highlighting the benefits that afe seen. Recommendations for changes to our monitoring ol the Service were made, along with the need to explore the pracb'cal use of loan equipment so that patients without aC￿sS to suitable technology see ongoing benefit for the duration of their slay in hospital. The team will be working with the Fundraising team lo secure ongoing delivery of the servi￿. Grants Review outcomes from first year of the new Grants programme., make recommendations for improvements or changes to the service. A full review was carried out in conjunction with the requirements of the funder, Motability. Feedback from applicants was extremely positive. InstnJctAbility Aim to conclude the current funded project by June 30th 2024. In agreement with Sport England the research will conclude with a final report in October 2024. The final research report was received and accepted in November 2024. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of tho Trustees PERFORMANCE SUMMARY - continued Objèctivg Aspire Re$8arch Pursue funding lo increaselmaintain oui PhD student and resear¢h associate cohorts. Fifth set of PhD students expected to complete Iheiw research in 2024 Maintain the number of active PTojecls and if possible. increase the tU￿ent number by actively pursuing new collaborations and submitting new grant proposals. Maintain publication rate. 5 Continue to deliver our Msc programmes. Continue to contribute to outreach activities Italking to schools, public events, open days, etc.}. Outcome During 2024-25, we welcomed 6 new PhD students". We have had 5 PhD upgrades and 2 PhD student eompletions. Progressed ongoing projects and submitted 7 new grant proposals. We have published 82 papers tioumal and conference proceedings). 5. Continued delivery of the seventh student cohort for our Msc Rehabilrtalion Engineering & Assistive Technology IREATI with 10 students enrolled for the 2024r25. We have welcomed in total 54 students on our Msc programmes lo Stanmore We have delivered 16 invited talks at seminars and conferences le.g. ICNR 2024, Spain. UKABIF 2024, Manchester, Rehabweek 2025, USA lo name a few). We have contributed to several outreach activities (Prof Loureiro's team participated in demonstrating and showcasing Aspire Create Research al the Royal Society Summer Science Festival who received special mention from Lord Patrick Vallance in July 20251. Professor Loureiro was appointed Research Director and Chair of the Research & Innovation Board of the new National Rehabilitation Centre, the first NHS rehabilitation h05Pital in the UK. Fundraising To deliver £1.01 million of unrestricted income to Aspire and deliver an annual profit of £514k. To continue to develop the Aspire Channel Swim and deliver a 150/0 increase in income from the previous year's £174k lo £200k in 2024125. To increase profit on the event by 140/0 from £99k to £113k. To continue to develop Aspire's open water swimming programme wrth the addition of two night swims and the addition of a new swm from Red Sands Forts in the Thames Estuary. The total income from the new events to be £30k with a profil of£19k. To maintsin the existing open water swimming portfolio and raise a total of £364k of income and £216k of profit. To deliver 2 Sports Quiz events. one in London and re-estsblish the Manchester event raising a total of £167k and achieving a total profit of £83k. To continue lo develop the new initiatives of The Big Give, raising £20k and Sporting Chance, raising £5k and establish them as a re9ular part of the fundraising portfolio. To raise £596k from our grants and restricted income programme. This to include a joint bid for funds with SIA. Total unrestricted income raised wa5 £885k. The total profit delivered was £328k. This was a challenging year and a disappointrnent after the exceptional 2023124 year. The Aspire Channel Swim perfomiance was very disappointing. Final income was only £125k, 280/0 down on the previous year, and profil was down to £48k, a worrying drop of 52.5°/o on the previous year. The new events were extremely Su￿$sful. The night swims raised a total of £29k and the Red Sands Fort swim raised over £5k. They generated total income of £34k and a profit of £21 k. Open water swimming failed lo hil its largel and raised £344k with profil of £183k. The weaker performan￿ was caused by a shortfall from our Solent event. The London Sports Quiz was a resounding SUC￿ss, but we failed lo generate interest in a Manchester Quiz and had lo can￿1 it. The London Sports Quiz raised £147k and gave us a profit of £66k. The Big Give was a successful campaign and raised a total of £30k. Less suc￿Ssful was Sporting Chan￿, which raised less than £3k and has since been closed by the organisers. Totsl reslricled income for the year was £660k. The joint bid with SIA was successful and we received grant funding of £256k to fund Welfare Benefits and Housing. The total award was for £496k with SIA takin9 the remainder to fund theiT services. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustses PERFORMANCE SUMMARY . ¢ontinu•d Objective A$pire Law Aspire Law to work lo maintain con- $15tent client numbers by acquiring new clients to match the number of cases concluding. Aspire Law to fuKIl the objectives of the three-year strategy launched in November 2021. Establish Aspire Law main office al the London City location and relo- cale staff. Continue and extend Aspire Law's important sponsorship of the Char- ity's services and wort with Aspire to identify a new possible support role for the London Major Trauma Centres. Outcome 10 Aspire Law has demonstrated selectiveness with new InStru￿10n$. Aspire Law has continued to successfully fulfil the objectives of the three-year strategy 2021-2024. 3. The City of London office is now the main office location for Aspire Law and the 51h Floor lease has been signed. Aspire Law continues to be the only sponsor of Aspire's Assistive Technology Service. which launched support for the London Major Trauma Centres and General Hospitals in September 2023. Aspire Law is also an SIA Trusted Legal Partner and is listed on the Baek Up Charity Trusted Legal Partner Panel. 11 Aspire Leisure Centre Achieve the annual budget. Maintain Quest accreditation of "Very Good" Work towards pre-pandemic levels of membership11,500 Premier Members). Maintain disabled membership of at least 320/,. 5. Achieve average audit score (quality and Mystery visilsl of 800h. 6. Achieve Health & Safety Audit score Total surplus achieved was £19k, missing the £74k target by £55k. The Centre expeftenced £45k of unplanned expenditure, which contributed to this significant underperfonnance. A'very Good" Quest accreditation was Suc￿sfUllY achieved in January 2025. Total Premier Members during the year We￿ 1,295. Disabled Members during the year were 310/0. A three-per￿ntage point improvement on the previous year. Mystery Visit Audit Score was 75.￿ average, 5910 down against target. Health & Safely Audit Score was successfully achieved al 900/0, ten- per￿ntage points higher than target. A 10/0 reduction was achieved for water, 8 70k reduction for gas and 40/0 reduction for electricity. 8. £167k funding secured in November 2024 to install solar panels. Installation was completed in Septembei 2024. Reduce utility consumption Iwaler 5gkn, Gas 50/0, Electricity 50kn1. Secure funding for the installab.on of solar panels. Implement parking control system. Public benefit statement The purposes and activities of Aspire include Ihe advancement of heahh among those who have incurred a spinal cord injury. academic research designed to assist such persons. the provision of recreational facilities for people in special need because of their disability and the provision of financial help and specialised housing, training, advice and other facilities for those in need of them for the same reasons. The Trustees lake the view that the purposes and ?clivilies fully comply with the publie benefit requirement as set out in the Charities Act 2011 and explained in the Charity Commission's guidance on Public Benefit. Aspire's services are open to all spinally injured persons ￿98rdleSS of age, sex. marital status, sexual orientation, ethnieity, nationalrty. place of residence, financial circumstances, soci81 class, political opinions and religious belief. So Aspire's main beneficiaries. of whom there are potentially a significant number, can properly be regarded as a 'section of the public, in charity law. In addition, as part of the aclivikn'es which benefit spinal injured people, Aspire also provides help and SLtpport for their families and members of the public generally. The Trustees strongly believe that assisting spinally injured people lo become independent and reintegrate into the community provides soaal enrichment for the community Ttself and helps Il to be more eohesive. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRA TION 'ASPIRE' R•port of thè Trustees FINANCIAL REVIEW Principal Funding Sources of the Charlty Aspire's total income increased by over £425k in the last year to £4.2m. showing signs of steady growth over the last few years. The furlough scheme ended in the year 2021122, therefore no further income benefit has been received from the scheme since. Donatsons and Trust income remained in line with the previous year. Charitsble Activity income increased by £60k with the Aspire Leisure Centre close to pre-pandemic income levels. Aspire Housing income increased by £65k on the previous year due to higher housing rent income. Other Trading, which eompiises Aspire Fundraising Limited (fundraising events) income decreased over 10'/o against the previous year. The Joint Ventures (Aspire Law LLP and Aspire Wealth + Managemer*l Lldl contributed a totsl of £522k this year, up £408k from last year. Aspire Law LLP also made a £100k dividend payment again this year shown in 'Other Income,. below. Principal Funding Sources 2021/22 202?123 2023124 2024125 500 I,ooo 1,500 2,000 2.500 3,000 3,500 4,000 4.500 £'o( Don3tions and Trusts * Charitable Activities • Other Tradin8 A Joint VentLJre • FLJrlough Scheme • Other Income Fi ure 1 Princi al Fundin Sources for the ear ended 31 March 2025 Fundraising Income Total fundraising income was £42k lower this yeai at £1.65m. General fundraising through our Trading Subsidiary (Other Trading) was down £82k against the previous year. Trust and Foundation income was up £65k with general Donations down £22k. Fundraising Income 1,250 1,300 1,350 1.400 1,450 1,500 I,S50 1.600 1,650 1,700 £'ooo 2021122 kn 2022123 • 2023124 m 2024125 10 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Fi ure 2 Fundraisln Income f gar gndgd 31 March 2025 Charitable Income Our income from Charitable Aelivities continues lo show a stron9 perfomance. The Aspire Leisure Services income remained similar to the previous year at just below £1.4m. Aspire Housing income improved with higher rental income being received. Charitable Income Aspire Housing Aspire LeI5ure 5eroice5 200 400 600 I,ODO 1.200 1.400 £'ooo 2021122 u 2022123 4 2023124 A 2024125 ure 3 Total Charitable Income for the ear ended 31 March 2025 Totsl Cost of Fundraising The total cost of fundraising remains similar to the last tsvo years at £560k. Our net fundraising return, however, increased from 31Vkn to 34¥0. Total Cost of Fundraising 420 440 460 480 500 520 S40 560 IJ 2021122 ¥ 2022123 4 2023124 • 2024125 ure 4 Total Cost of Fundrnisin for the ear ended 31 Mareh 2025 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRA TION 'ASPIRE' Report of the Tru$tet$ Charitable Expendlture OLtr total charitable expenditure was consistent with the previous year. Whilst most charitable service expenditure has increased OT remained similar to the previous yeaf, the key areas where expenditure has decreased are Research and Leisure Services IlnslructAbility programme ended during the yearl. Our ten-year funding commitr)ent to research through the Aspire Centre for Rehabilitation Engineering and Assistive Technology, UCL, ended in the first quarter of the financial year of the previous year. Patient Education has been separated from Independent Living expenditure due to the work expanding throughout the county. Charitable Expenditure Patient Education Wefare Benefits Assistive Technology Independent Living Aspire Grants Aspire Housing Re5e3rih Aspire Leisure Services 200 400 600 800 1,000 £'ooo 1,200 1,400 1,600 1,800 2021122 1 2022123 ll 2023124 • 2024125 Fi ure S Charitsble Ex nditure for thg gar ended 31 March 2025 Aspire Law LLP Aspire invested in a Joint Venture with the legal fim, Moore Barlow LLP, to create Aspire Law LLP- a unique social enterprise that represents spinal cord injury claimants only. This highly specialist legal firm pla￿S rts clients al the heart of the business. It provides a comprehensive service that aims to secure the highest value settlement for a claimant in the most appropriate timeframe, therefore allowing them to get on with their life. This service is provided on a 'No Win. No Fee, basis, with a claimant receiving 1000/0 of their award and Aspire Law's costs being funded by the third party. Aspire owns 500/0 of Aspire Law LLP, through the trading subsidiary Aspire Trading 2014 Limited, and in line with the agreement. benefits from 50Q/o of ils surplus. Aspire Law contributed £516k profil share lo Aspire this year as well as prov¢ding over £100k sponsorship to Aspire Services and 8 £1 Ook dividend payment, which allowed Aspire to provide a wealth of services lo help the vast majority of spinal cord injured people who do not benefit from the support of a compensation claim. A report is inciuded in the earfier section under Performance Summary Objective 10. Asplre + Wealth Management Limited Aspire has worked in partnership with Independent Financial Advisor, Frenkel Topping. to form a new joint venture, Aspire + Wealth Management Limited, launthed in April 2020. This is a highly specialist financial service provKling spinal cord injured clients with an expert service to invest the compensation settlement amounts to provide for ¢lienls' n8eds throughout their lives. Aspire owns 500/0 of Aspire + Wealth Management Limited, through the trading subsidiary Aspire Trading 2020 Limrted, and in line with the agreement, Aspire + Wealth Management Limited ¢ontributes 60 1¢ of ils surplus to Aspire. This 12 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees year Aspire + Wealth Management Limited contributed £7k to Aspire. Aspire + Wealth Managemenl remains the current corporate sponsor of Aspire's Money Matters service. InvèslJngnt policy and retums Aspire operates an investment poli¢y to achieve the maximijm possible return at the lowest level of risk. We aim to ensure that investments grow in value, in line with the rale of inflation, whilst providing a modest return on the original capital invested whilst also meeting our ethical inveslmersl policy. Due lo the reduction in cash being held by the Charity, we currently only hold £12k, which is invested in the CCLA Investment Fund. Rèsorves Policy Aspire's reserves are £1,173k representing Unrestricted Funds1£1,874k} less Tangible Fixed Assets1£362kl and Designated Funds1£339kl. The reserves a￿ supported by investments, which by their nature are illiquid. See notes 7 and 13 of the Notes lo the Financial 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 reserves policy of Aspire and have considered the financial requirements needed to support the work of the Charity and to protect against future potential risks. In the opinion of the Trustees, the reserve5 are sufficient for Aspire's needs. however, the Trustees, long-tem aim is lo increase the reserves and, in particular, to increase the component backed by liquid assets. such as cash, to enhance the flexibility of its cash management. Risk Management The Trustees have examined the major risks which the Charity fa￿S and confimi that systems have been established so Ihat the necessary steps can be taken to manage those risks. The systems of internal control are designed lo provide reasonable, but not absolute, assurance against material misstatement or loss. They include.. Accreditation to recognised national standards including Quest and Best Companies. External auditing of Quality Management and Health & Safety Systems. A full risk register and risk policy, which is reviewed every six months. Full competitor and external threat analysis for all servI￿s. An annual budget with full supporting business plans approved by the Trustees. Regular consideration by the Trustees of financial results and forecasts, variances from budgets and non-financial perfomiance. Quarterly reporting and assessment of operational plans and objectives that have been agreed and set for the year. Delegation of authority and segregation of duties. On-going investment in the development of the professional knowledge and capability of staff. A new &Year Strategic Plan 2024129. The key risks identified by Aspire in 2024125 were". Financial Risk- demand for our services continues to grow and this will place even greater demand on our finances in the future. Global events in 2024125 have had a material impact on all of our purchases, especially gas and electricity costs for operating the Aspire Leisure Centre. Rising inflation and the cosl-of-living can impael our staff, fundraising and Aspire Leisure Centre customers Government Policy Changes- Changes in social housing and welfare benefits have a major impact on our beneficiary group and as a result an increase in demand for our services. Tight budgets for care provision can affect the amount and qualty of care provided lo spinal cord injured people. The above risks will be considered by the Trustees and the leadership team throughout the next financial year, but the risks presented by the cost-of-living, inflation, increased utility costs and rising employment costs, will be the major focus for 2025 onwards. A comprehensive risk register and related actions, quality systems, policies and controls have already been estsblished lo mitigate any such risks. ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Going Coneèrn The Trustees have considered the impact of the co$t-of-living, inflation, increases in utility costs and rising employment costs on the future viability of the charrtable company and the expected level of income and expenditure for the 12 months from the date of aulhorising these financial statements. The projected income and expenditure of the eharilable company together with the level of ils resourtss is sufficient for the chartlable company lo be able to continue as a going concern. The Trustees continue lo take all the availab￿ steps to maintain suffioent resources in order that the charitable company can continue and, based on projections and available infomation, the Trustees have a reasonab￿ expectation that the charitsble company will have sufficient funds lo continue to meet its liabilities as they fall due for the foreseeable future and therefore have prepared the financial statements on a going ¢on¢em basis. Plans for 2024125 Ob ective Independent Living Improve NHS staff understanding of the work of the Independent Living team by Producing and distributing annual reports specific to each Spinal Cord Injury Cenlre. 2. Seek opportunrties lo deliver the service outside of the Spinal Cord Injury Centres", identify need, build relationships with other settings and deliver appropriate response. Patient Education Introduce posl-discharge survey at 2-year stage, to compliment those undertaken at 6, 12 and 18 month intervals. Review data and make recommendations for next steps_ Review availability of video content covering Patient Education topics," ensure resources are shared wherever prac- tical and look for opportunities to fill gaps in available resources. Welfaro Bengfits Increase capacity of team to better meet growing demand for the service. Complete renewal of our Advi￿ Quality Standard accreditation. Aspire Housing Programme Review Aspire Housing Policies in consideration of changing requirements from our partner Housing A5socialions. Identify areas where changes are required or improvements can be made, make recommendations for implementa- tion, and ensure the team is trained on the new processes. Review capacity within Housing Advi￿ lo meet demand and make recommendations for any changes required. Assistive Technology Review monitorsng and evaluation procedures and ensure they are fit for purpose as we support more people in general hospitals Engage with those Spinal Centres and hospitals where we do not have an Assistive Technologist and identify ways in which we may be able to support the staff and patients at those siles. If requests for support are forthcoming, work with the Fundraising Team to Secu￿ the means to rnake it possible. Grants Increase infomiation available to potential applitsnls so they are better supported in their choices and engage- ments with equipment suppliets. Work with other funders to improve applicants, experiences and to secure joint funding wherever possible. 14 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Plans for 2024125 Icontinuedl Ob"ective Aspire Research Pursue funding to inereaselmaintain our PhD student and research associate cohorts. Seventh sel PhD students expected to complete their research in 2025126. Maintain the number of active projects and if possible, increase the current number by actively pursuing new collaborations and submitting new grant proposals. Maintain publication rate. Continue to deliver our Msc programmes. 6. Continue to contribute lo outreach aclivib'es (talking to schools, public events, open days, etc.). Fundraising To raise £861 k of unrestricted income with a profil contribution of £335k. To raise £375k from our open water swim portfolio and deliver a profit of £215k. To slabilise the decline in the Aspire Channel Swim by recruitin9 1.200 swimmers and raising revenue of £125k with a profil target of £52k. To continue lo develop our new events with night swims raising £32k, Maunsell Fortslsealand raising £14k and Hellespont £5k, and Original Marathon and London Ultra raising £11 k, representing £62k in total. 5. Continue to grow The Big Give through a donor driven appeal raising £35k. To secure £593k of project funding from trusts and foundations. Aspire Law Aspire Law lo be selective with new instructions and not materially increase new instructions. Aspire Law lo continue to fulfil the objectives of the Ihree-year strategy launched in November 2021. Establish Aspire Law main office on the 5th Floor of the London City location and relocate staff. Continue and extend our important sponsorship of the Charity's services. 10 Aspire Leisure Centre To achieve the budget. Achieve Quest Prime12 days) and achieve at least a 'Good° rating by December 2025. Work towards pre-pandemie levels of membership11.500 premier members) by April 2026. Grow disabled membership by 20/0 by March 2026. Work towards Swim England Water Well-being accredstation. To achieve annual Quality audit score of at least 80Qkn by March 2026. To ad)ieve annual Health & Safety audrt score of over 90.kn in November 2025. Reduction in Utility Consumption Iwater 5 %, Gas 5,10. Electncily 5Qknl by March 2026. 9. Achieve and NPS score above 42 Iswimschool and Annual Customer Sutveyl. 10. Achieve £5k ALC fundraising target. 11. Implement a 50-week swimming lesson teachin9 year from Summer 2025. 15 A880CIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustse8 Aspire would like to thank the following trusts and foundatlon8 for thelr 8UPPOrt of Ouf work during tho last year: Addenbrooke's Charitable Trust The Frank Litchfield Génèral Charilable Trust Bellway Homes Blakemort Foundation The Hadrian Trust The Hobson Charity The Hodge Foundalion The Hugh Fraser Foundation The lan Karten Charitabl& TNSt Bruce Wake Charttable Trust C A Redfem Charitable Foundation City Bridge Foundation DVS Foundation The James Tudor Foundation London Maralhon Foundation Motability Foundation National Lottery Awards for All England National Lottery Awards for All Northem Ireland National Lollery Reaching Communities England P F Charitable Trust The Lawson Trust The Medicash Foundation The Moondance Foundation The Noble Charitable Trust The Percy Bilton Charity The Rainford Trust Pilkin9ton Charilies, Fund Re¢lory Foundation Saloman Foundation Shanly Foundalion The Childwick Trust The Sir George Martin Charrtable Trust The Souter Charitabl8 Trust The Sover&ign Health Care Charitable Trust The Steven Bloch Image of Disability Charitable Trust The Walter Guinness Charitable Trust Tha Christopher Laing Foundation The Worshipful Company of Infomation Technologists Charity The Zachary Merton and George Woofindin Trust Whee￿rights, Charity The Eveson Trust Asplre y￿uld also like to thank the followlng people and organl$atlon$ for th•lr 8UPPQrt: Aspire Law LLP John Inverdale Zoggs InteTnatior¢al Ltd Fittleworths Rob Nothman Alan Bloom Frenkel Topping Antony and Caragh Barnes Aspiré + Wealth Management Ltd Zen8 Jean-Bapts'$te and Claudine Wautier 16 ASSOCIATION FOR SPINAL INJURY RESEARCH REHA81LITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees GOVERNANCE Constitution Aspire is a registered eharity, number 1075317 and is also a company limited by guarantee, registered company number 03744357. The Charity is also registered with the Office of the Scottish Charity Regulator 'OSCR' with registered charity number SC037482. Trustees The Trustees who seThed during the year were as follows.. Dr H Agha Iretired 14 June 20241 A Chaplin Dr M Fennelly lappointed 13 December 20241 N Flanagan S Gardiner C J Leach Iresigned 25 July 20241 H Mehta J Sacks Dr P Thumbikat J Wautier R Wilmot None of the Trustees had an interest in any contract or arrangement of a material nature during the year under review. Methods for recruiting and appointing Trustees The Trustees select members to join the Tfuslee Board that will complement and strengthen the existing professional expertise and competencies of the board. A 'Key Skills, anatysis is undertaken lo identify any skillslexperiencelknowledge gaps on the Trustee Board before undertaking a specific recruitment prO￿$s. The Trustees also welcome expressions of interest from candidates who have served a minimum of one yeaT as a committee member supporting the Work of the Charity. Policies and procedurès for inducting and training Trustees During the recruilmenl pro￿sS, a new Trustee receives a full induction to the organisation including Aspire's history, ethos, culture and vision for the future. Further lo this a meeting is arranged with the Chief Executive Officer and Directors of the Charity at the Aspire Leisure Centre, when a lour of the facilities is given, and a more detailed explanation is provided regarding the Charity's activities. Trustees are provided with necessary information about support and advi￿ prepared by the Charity Commission. Trustees are also invited lo attend seminars and conferences that may be deemed appropriate and where they are not able to attend, one Trustee will provide an update and feedback to the Board from any events attended. Oryanisational Structure and how decisions are made The Aspire Board of Trustees is ultimately responsible for ensuring the Charity's strategic direction and the actions of its employees. This responsibilty is discharged throLsgh the Chief Executive Officer. The Trustee Board meet every three months to review perfonnance against agreed operational and financial targets and. in additson to this, attend ex￿pIlon¥I meetings to 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 committee. Each committee will invite external experts and advisors to assist in the monitoring and evaluation of these activities and to help in the longeT-lerm development. The committees all meet prior to each and every Trustee meeting when reports are presented. Issues that require Trustee decisions are presented at the meeting where the Board will debate and agree what action is appropriate. Each decision is communicated through the Chief Executive Offi￿[ and recorded in the minutes of the meeting. In addition lo this, regular meetings are hekj by the Chair and the Chief Executive Officer lo monitor the Charity's perfomiance and governance. Regular meetings are held between the Chair and the Chief Executive Officer every four lo six weeks. 17 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees Aspire Organisational Structure March 2025 Aspire Board of Trustees Aspire Law LLP Aspire + Wealth Management Ltd CEO Aspire Research Finance & HR Services Fundraising & Marketing Aspire Leisure Services Housing Assistive Technology Welfare Benefits Patient Education Grants A 5-year slralegy was developed and launched al the beginning of 2024125 financial year to set out how Aspire will continue lo build and its service capacity to meet the growing demand. A key focus is also the rebuilding and strengthening of liquid cash Teserves. This plan is supported by a twelve-monlh cashflow forecast, which is extended, updated and reviewed quarterly. Wider nelwork andlor relationship with affiliated organisations To communicate and advance the work of Aspire we work with other charitses and organisations to ensure the most effective means of operating and delivering our services. Aspire has signed a memorandum of understanding with the Iwo other major spinal injury charities. This memorandum was launched in 2019 and aims lo.. ensure each of the charities know what they are working to achieve, give support where necessary, seek opportunities for collaboration and avoid any duplication of service activity. Aspire is a member of MASCIP Imullidisciplinary Association of Spinal Cord Injury Professionals). Personnel and Staff Movements The Trustees and the leadership team comp¥ise the key management personnel of the Charity in charge of directing and controlling and operating the Charity on a day-to-day basis. The leadership team consists of the Chief Executive Officer, Director of Fundraising and Marketing, Director of Services, Director of Operations, Financ£ Manager and Leisure Centre Manager. All Trustees give of their time freely. No remuneration was paid lo any of the Trustees, neither were any expenses claimed. No key management personnel resigned during the financial year. The Charity sjses charity sector benchmarks to assess and sel the remuneration of the key management personnel and alway5 aims lo pay median market rates ststement of Tru$tee$' Responsibilities The Twslees are responsible for preparing the Trustees, Report and the finanaal statements. in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial statements for each financial year. which give a true and fair view of the slate of affairs of the charitable company and of the incoming resoUr￿S and application of resources, including the income and expenditure of the charitable company for the year. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles In the Charities SORP IFRS 1021., make judgements and estimates that are reasonable and prudent". state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going ¢oncern basis unless it is inappropriate to presume that the charitable company will continue in operation 18 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Report of the Trustees ststement of Trustees. Responslbllllles Iconllnu¢d) The Tnjstees are responsible for keeping adequate aCCountw￿ records that disclose. wth reasonable accuracy at ary time. the financial position of lh8 Charitabl8 eompany and enabl8 them to ensure that the financial slatements compty wilh the Companies Act 2006. They are a150 responsible for safeguarding the assets of the chantable company and hertr for taking r8asonatrAe steps for the prevention and deteth.on of fraud and olher irregularities. In so far as Ihe Twstees are 8W8re: there is no relevant 8udil information of whith Ihe charitable C£smpary's auditor is unaware" and the Trustees have tsken all steps that th8y ought lo have taken to make themse￿83 aware of any felevant audtt irrfom)ation and to establish that the auditor is aware of that infomiatton. The Trustees are resrKJnsible for the maintenance and integrity of the corporate and finanaal Infomiation Induded on the charitable company's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may drffer from legislation in other jurisdith"ons. Auditors A resolution for the re-appointrnent of Azets Audit Services as auditors to the charitabJ9 company WSM be submittad to the Annual General Meeting. This report has been prepared in aCC￿danCe wth the Statement of Recommended Practice.. 'Accgunting and Reportlng by Charities, and in accordance wittt the special provisions of Part 15 of the CornpanEs Act 2006 relating to smaller entities. By Order of the Board Nl¢k Flanagan. Trustee & Treasurer 19 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Independent Auditor's Report to thg Mgmbgrs Opinion We have audited the financial statements of Association for Spinal Injury Researth Rehabilitstion and Reintegration {the 'charitable parent company'l and ils subsidiaries Ithe 'group'l for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheet, Consolidated Cash Flow Statement and notes to the financial statements, including a summary of signifitant accounting policies. The financial reporting framework that has been appl￿d in their preparation is applicable law and United Kingdom Accounting Standards, in¢luding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally A¢￿pted Accounting Praeticel. In our opinion, the financial statements.. give a true and fair view of the stale of the group's and of the Charitable parent company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources, for the year then ended., have been properly prepared in accordan￿ with United Kingdom Generally AC￿pIed Accounting Practice., and have been p￿Pared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wrth Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable pafenl company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Slandaid. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtsined is sufficient and appropriate to Pfovide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial ststemenls is appropriate. Based on the work we have performed, we have not identified any material Un￿rtaIntieS relating lo events or conditions that, individually or collectively, may cast significant doubl on the group's and charitable parent company's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees w(th respect to going con￿rn are described in the relevant sections of this report. Other information The other infomiation comprises the infomiation Included in the annual report other than the financial statements and our audilorfs report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and, ex￿p1 lo the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibilrty is to read the other infomiation and, in doing so, consider whether the other infomialion 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 identrfy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the wort( 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 lo report in this regard. 20 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION ANO REINTEGRATION 'ASPIRE' Indepèndgnt AuditoVs Report to the Members Opinions on other mattèrs prgscribgd by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report, which includes the directors, report and strategic report for the financial year for which the financial statements are prepared is consislenl with the financial statements," and the strategic report and the directors, report included within the Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and charitsble parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, Report. We have nothing lo report in fespect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting iecords have not been kept, or returns adequate for our audit have not been re￿iVed from branches not visited by us", or the financial stslement5 are not in agreement with the accounting records and returns., or eertain disclosures of trustees, remuneration specified by law are not made., or we have not received all the infomation and explanations we require for our audit., or the trustees were not entil￿d lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the directors, report included within the trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fulty in the trustees, responsibilities statement, the trustees (who are also the diredors of the charitable parent company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstalemenl, whether due to fraud or error. In preparing the financial statements, the Iruslees are responsible for assessing the group's and the charitable parenl company's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unles5 the Iru5tees either intend lo liquidate the charitable parent company or to ￿ase operab"ons, or have no realistic altemative bL*I to do so. Auditor's responsibilities for the audit of the financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstslemenl, whether due lo fraud 01 error, and to issue an auditorfs report that includes our opinion. Reasonable assuran is a high level of assurance but is not a guarantee thal an audit conducted in accordance with ISAS IUKI will always deleLI a material rnis5tatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further descriptson of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uklaudilorsresponsibilities. This description foms part of our auditor's report. 21 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Independent Audltor's Report to the Mgrnbers Extent to which the audit was considered capable of detecting irrggularities, including fraud Irre9ularilies, induding fraud, a￿ instances of non-compliance with laws and regulations. We design proeedures in line with our responsibilities. outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its Control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fiaud. In response lo the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and those charged with govemance around actual and potential litigation and claims as well as actual, suspected and alleged fraud", Reviewing minutes of meetings of those charged with govemance., Assessing the extent of Complian￿ with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the charitsble parent company through enquiry and inspection., Reviewing financial statement disclosures and testing to supporting documentation to assess Complian￿ with appli- cable laws and regulations., Perfomiing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the nomial course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audrt, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-complian￿ with regulation. This risk incTeases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk of not detecb.ng a material misstatement resulting from fraud is higher than for one resuhing from error, as fraud rnay involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. Use of our report This report is made solely lo the chantable parent company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audtt work has been undertaken so that we might slate to the charitable parent company's members those matters we are required to stste to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not a0￿p1 or assume resporssibility lo anyone other than the charitable parent company and the charrtable parent company's members as a body, for our audit work, for this report, or for the opinions we have formed. John Howard FCA (Senior Statutory Auditor} for and on behalf of Azets Audit Services Statutory Auditor 2nd Floor. Regis House 45 King William Street London EC4R 9AN 22 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Consolidated Statement of Flnan¢lal Activities For the year ended 31 March 2025 Unrostri¢t•d Restricted Funds Funds £'ooo £'ooo Total 2025 £'ooo Totsl 2024 £'ooo Notes INCOME FROM: Donations and Legacies Charitsble activities Aspire Leisure setv1￿5 Aspire Housing Other trading activities Share of sujplus from joint ventures Olher income 433 520 953 914 1,357 437 697 267 100 1,357 570 697 267 100 1,362 505 779 114 100 133 Total income 3,291 653 3,944 3.774 EXPENDITURE ON: Raising funds Cost of generating voluntary income Costs of trading subsidiary Charitable activities Aspire Leisure Services Research Aspire Housing Aspire Grants Promoting Independent Lwing Assistive Technology Welfare Benefits Capital grants funding Patient Educatson 234 326 234 326 217 314 1,380 14 1,394 1.556 34 726 72 154 187 167 638 72 69 24 102 136 165 87 174 774 237 156 198 166 123 123 135 Total expenditure 2,845 763 3.608 3,562 NET EXPENDITURE AND NET MOVEMENT IN FUNDS BEFORE GAINS AND LOSSES ON INVESTMENTS Transfer between funds Gains on revaluation of investsments 446 1110) 336 212 NET MOVEMENT IN FUNDS 702 1110) 592 212 RECONCILIATION OF FUNDS Total funds brought forward 1,428 786 2,214 2,002 Total funds carried foward 12,13 1,874 676 2,550 2.214 CONTINUING OPERATIONS All income and expenditure has arisen from conlinuing activities. The notes on pages 27 to 38 fom part of these financial statements. 23 SSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REINTEGRATION 'ASPIRE' Consolldated B•lan¢e Sheet As at 31 March 2025 2025 2024 £'ooo Nots$ rooo eooo £'ooo FIMd a88èts Tangible ffixed essets Investrnents 382 1,617 232 1.351 1,979 Currgnt a¥gets stock DelAors falling due after more than I￿8 year Debtors falling du8 wbihin one year Cash and cash equivalents 1,583 700 346 444 700 235 467 1,499 1.409 Cr•dltors: Amounts falling duo within one year 10 (785} (608) Net current assets 734 801 Totsl os$•ts hss current118blllll•$ 2,713 2,384 Credltors: Amounts falling dua after more than one yoar 11 11631 (170) 2,SSO 2,214 Funds Restricted frjnds Unrestrlcted funds 12 13 676 1,874 786 1.428 2,550 2,214 The Ilnancial Statements hava be•n propared in accordan¢e with the special provisions of Part 15 of the Companles Act 2006 relaling to smal entities. The financial statements were approved ty the 8oard on and $igr*d on their behalf by.. Nlck Flanagan, Tntsts• & Treasuror The notes on pages 27 10 38 form part of these ffin8ncial ststem8nts. 24 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABIUTATION AND REIKfEGRATION 'ASPIRE' Charltable Company Balanco Sheet Ag at 31 March 2025 2025 2024 £'ooo £'ooo £'ooo £'ooo Fixed as¥eis Tangible fixed assets Investrnents 362 63 232 425 295 Current as8•ts Stock ogbtors Cash and cash equivalents 917 378 809 427 1,302 1,243 Cr•dltorn.' Arnounts falling dut within one year 10 {570) 1443) N•t curr•nt a88•ts6 732 800 Totsl ass•ts l•s$ current Ilablllt 1.157 1,095 Cr•dltors: Amounts falling due after more than one year 11 (163) 11701 925 Funds Resth'ctecl fvnds Unrestrictsd funds 12 13 676 318 786 139 994 925 The fina￿181 statemeftts have bean prepared in accordance wlth the special PTovtsions of Part 15 of thè Companies Act 2006 relating to sman &ntitlg8. The financial statements were approved by the Board on and 81gned on thtsir bghall by". Nick Fia gan. Tru8t•o & Trnagurgr The notès on page5 27 10 38 form part of these ffinancial statements. 25 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Consolidated Cash Flow Statement For thè year ended 31 March 2025 2025 2024 £'ooo £'ooo £'ooo £'ooo Reconclllatlon of net expenditute lo net cash flow from operatlng aclivltles Net incomellexpenditurel for the ￿porting period Adjustments for.. Gain on investrnents Share of surplus from joint ventures Dèpreciation {Increasel in stod( {Increasel in debtors Increase in Creditors 336 212 12671 {1141 12} {1101 150 141 1171 28 Not cash flow from op•ratlng a¢tlvities 165 163 Cash flow statsm•nt Net cash flow from operatlng actlvllle8 165 163 Cash flow from Investlng actlvltleg Paymen1$ lo acqyire tangible fixed assets 1188) {481 Net cash flow from Invw4tlng a¢tlvlll•s {1881 {48} Incruso I ID•¢rnas•l in cash 123) Reconclllatlon of changes In cash Balance at 1 April 2024 467 352 Increase l {De¢rea$el in cash 123) 115 Balance at 31 March 2025 467 The notes on pages 27 to 38 fom part of these financial statements. 26 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Financial Statements For the year ended 31 March 2025 ACCOUNTING POLICIES The principal accounting policies adopled, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. a) 8a$l$ of accounting The financial statements have been prepared in accordan￿ with Accounb'ng and Reporting by Charitses.. Slalemènl of Recommended Practi￿ applicable to charities preparing their a¢￿￿nts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act 2011, provisions of the Charities Acl 2022 in for￿ at the time of preparing the accounts, the Companies Act 20(kl 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 transa￿lon value unless otherwise stated in the reSevanl accounting policy notes. The financial statements are presented in steding 1£) which is also Ihe fvnctional currency for the Charity. bl Consolidation Where control is exercised by the parent charity over another entity, those enlilies are consolidated as subsidiaries on a line-by-line basis in accordance with FRS 102 section 9 and the Charities SORP IFRS 102}. Details of these entities are given in note 7 to the financial ststements. The Charity's inleresl in joint ventures and joint arrangements are accounted for in accordance with FRS 102. The investments in Aspire Law LLP and Aspire + Wealth Management Limited are treated as joint ventures within the consolidated financial statements and are accounted for using the gross equity method. Details of these inlerests are given in note 7 to the financial statements. A separate statement of financial activities for the charitable company has not been presented because the charitable company has taken advantage of the exemplion afft)rded by section 408 of the Companies Act 2006. cl Preparation of the a¢¢ounts on a going concern basis The Trustees have considered the impact of the cosl-of-living. inflation, increases in utility costs and rising employment Costs on the future viability of the charitable company and the expected level of income and expenditure for the 12 months from the date of authorising these financial statements. The projected income and expenditure of the charitable company together with the level of its resources is sufficient for the chantable company to be able to continue as a going concern. The Trustees continue to take all the available steps to maintain sufficient resources in order thatlhe charitable company can conb'nue and, based on projecb'ons and available infomiation, the Trustees have a reasonable expectation that the charitable company will thave sufficient funds to continue to meel its liabilities as they fall due for the foreseeable future and therefore have prepared the financial statements on a going con￿rn basis. dl Judgements and key sources of estimation uncertainty Accounting eslimales and judgements are continually evaluated and are based on historical experience and other factors, including expectations of futtsre evenls that are believed to be reasonable under the circumstances. The following judgements {apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements are.. Useful economic lives of tangible assets and the annLtal depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The usefvl economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimales, based on technological advancement, future investments, economic utilisation and Ihe physical condition of the assets. See note 6 for the carrying amount of the propety plant and equipment together with note 1 for the useful economic lives for each class of assets. There are no key assumplions concerning the future and othei key sour￿$ of estimation uncertainty al the reporting date that have a significant risk of causing a material adjustment to the Carrying amounts of assels and liabilities within the next financial year. 27 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Flnan¢ial Ststoments For the yoar ended 31 March 2025 ACCOUNTING POLICIES - continuèd è) Lo9al status Aspire is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1. Funds a¢¢ounting Restricted funds- these are fvnds that can only be used for spècific restricted purpose5 Wlthin the objects of the Charity. Restrictions arise when specified by the donor or when fvnds are raised for particular restricted purposes. Designated funds these are bJnds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects. Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. gl Income All income is included in the Statement of Financial Activities when the Charity is entitled to the income and the amount Can be quanlified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income including core grants, sponsorship, donations and gifts is included in full in the Statement of Financial Activities when receivable. Grants, where enlrtlement is not conditional on the delivery of a specific perf0mlan￿ by the Charity. are recognised when the Charity becomes unconditionally entitled to the grant. Incomin9 resources from charitable actimties comprises income from carying out the Charity's activities, including the operation of the National Training Centre and the supported housing. Investment income is included when receivable. h) Expenditu Expenditure is accounted for on an accruals basis. The irrecoverable element of VAT is included with the item of expense to which it relates. Costs of generating funds a￿ those costs incurred in attracting voluntary income. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those incurred in the govemance of the Charity and are primarily associated with constitub.onal and statutory requirements. l) Support ¢osts allo¢ation Support cost5 are those that assist the work of the Charity but do nol direclly represenl charitable activities arnd include Offi￿ costs, governan￿ costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs cannot be directly attributed lo particular departments, they have been allocated to cost of raising fvnds and expenditu￿ on charrtable activitses on a basis consistent with use of the resour￿$. J) Govemment grants Government grants are recognised at the fair value of the asset received or receivable when there is ￿aSOn- able assurance that the grant conditions will be met and the grants will be received. A grant that specifies perf0rrnan￿ conditions is recognised in income when the performance conditions are mel. Mthere a grant does not specify perfornian￿ conditions it is recognised in income when the proceeds are re￿iVed or receivable. A grant received before the ￿cogn1￿.0n criteria are satisfied is recognised as 28 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes lo the Flnan¢ial Slatemènts For tho year ended 31 March 2025 ACCOUNTING POLICIES - Continued kl Tangible fixed assets Depreciation on all tangible fixed assets is calculated to write-off their cost over their estimated useful lives at the following annual rales Leasehold improvements Office fixtures & fittings Computer equipment 3- 20 years 10- 330/0 per annum on cost 33 % per annum on cost 11 Fixed asset investments Fixed asset investments are included al market value at the balance sheet date. Any gain or loss on revaluation Is taken to the Ststement of Finanrial Activities. Investrnents in subsidiarie5 and programme related investments are measured at cost less impaimient. Such investments are subject to review with any diminution in value is charged lo the Statement of Financial Activilies. Programme related investments are social inveslmenls made directly in pursuit of the Charity's charitable purposes. m) Stock Stock is stated at the lower of cost and net realisable value. n) Debtors and creditors receivablelpayable withln one year and after one year Debtors and creditors wilh no stated interest rate and receivable or payable within one year and after one yeav are recorded al transaction price. Any losses arising from impairment are recognised in expenditure. o) Cash and ¢a$h equivalents Cash at bank and cash in hand Includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or simi18r accounl. p) Financial Instruments The Charity ha5 only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic finanaal instruments are initially recognised al transaction value and subsequently measured at their settlement value. q) Foreign Currency Foreign currency transackn.ons are initially recognised by applying the foreign currency amount at the spot exchange rate between the functional currency and the foreign currency at the date of Ihe transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. r) Employee benefits Short term employee benefits. including holiday entitlement and other non-monetary benefits, and conlribub'ons 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 Finan￿ Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. 29 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Nots8 to tho Flnan¢ial Statements For the year ended 31 March 2025 VOLUNTARY INCOME DONATIONS AND LEGACIES Unrestrlcted Funds Restricted Funds 2025 £'ooo 2024 £'ooo Donations Grants receivèd 433 81 439 514 439 537 377 433 520 953 914 OTHER INCOME Unr•$trl¢tsd Funds Restrlcted Funds 2025 £'ooo 2024 £'ooo Dividend receivable from Aspire Law LLP 100 100 100 100 100 100 SHARE OF SUPLUS FROM JOINT VENTURES Unrestrlcted Fund8 R￿trICted Funds 2025 £'ooo 2024 £'ooo Share of surplus from Aspire Law LLP Share of surplus from Aspire + Wealth Management Ltd 260 260 107 267 267 OTHER TRADING ACTIVITIES - SUBSIDIARY UNDERTAKING OF ASPIRE FUNDRAISING LIMITED The profit of Ihe subsidiary undertaking, Aspire Fundraising Limrted, is gift8d to the Charity so that Ihere 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 oul b&low'. 2025 £'ooo 697 {151) 2024 £'ooo 779 {1451 Turnover Cost of sales 546 {175) 634 {1691 Operating costs Operating profit Interést rèceived 371 465 Net Incorne of tradlng subsldlary 371 466 Distributions to parent made under gift aid 1371) {4651 Retslned In Subsldlary 30 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Financial Statements For the year ended 31 Mar¢h 2025 EXPENDITURE Stsff Costs Direct costs £'ooo £'ooo Support £'ooo Total 2025 £'ooo Total 2024 £'ooo Raising funds: Cost of generating voluntary income Costs of trading subsidiary 174 16 234 326 217 314 238 Charitable expenditure: Aspire Leisure Services Research Aspire Housing Aspire Grants Promoting Independent Living Assistive Technology Welfare Benefits Capital grant fund Patient Educalion 125 309 1,394 1,556 342 16 124 163 39 422 221 23 31 127 10 774 237 726 72 154 187 167 198 103 20 123 135 2,009 1,251 3,608 3,562 All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource. Costs ￿lating to a particular activity are allocated directly, others are apportioned on an appropriate basis, for example, time spent, per capita or floor area. Grants paid to individuals during the year totalled £237,165 (2024. £71,673) Included in support costs are governan￿ costs of.. 2025 £'ooo 2024 £'ooo Auditor's remuneration". For audit For other services 24 17 24 20 STAFF COSTS 2025 £'ooo 2024 £'ooo Wages and salaries Social security costs Pension contributions Recruitment 1,813 125 65 1,781 119 65 2.009 1.968 None of the Trustees received any remuneration or benefits during the year {2024'. non61. Expenses totalling £nil were reimbursed to Trustees during the year {2024'. £nill. The number of employees whose annual emoluments were £60,000 or more were.. 100.001 110,000 Total contributions in the year for the provision of money purchase benefits for highei paid staff were.. Number of staff to whom retirement benefils are accruing Total contributions in the year £21,964 £19,601 The lotal aggregate remuneration paid to key management personnel during the year was £326,793 12024.. £315.6991 31 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Noles to tho Flnanclal Statsments For the year onded 31 March 2025 STAFF COSTS - contlnuod The average number of employees during the year was as follows.. Group Charlty 2025 2024 2025 2024 Aspire Leisure Centre Other Trading subsidiary 67 69 39 67 38 69 39 111 113 105 108 TANG18LE FIXED ASSETS Flxture8, Flttlngs and Computern £'ooo Leasehold Improvèrn¢nts £'ooo Group and Charlty Totsl £'ooo Cost Al 1 April 2024 Additions 774 170 623 18 1,397 188 At 31 March 2025 641 1,585 Dopre¢lallon At 1 April 2024 Charge for the year 642 30 523 28 1,165 58 At 31 March 2025 672 551 1,223 Net Book Value At 31 March 2025 272 90 362 At 31 March 2024 132 100 232 In the opinion of the Trustees the building comprising the Aspire Leisure Centre has a £nil valu8 due to it being sited on land leased from the Royal National Orthopaedic Hospitsl and hen￿ subject to certain restrictions. On this basis the building and certain associated equipment have been shown in the accounts of Aspire at a cost of £nil, being depreciated cost less capital grants re￿ived. 32 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRATION 'ASPIRE' Notes to the Financlal Ststements For the year ended 31 March 2025 INVESTMENTS Group Charity 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Shares in subsidiary undertakings Programme related investsment (note 7.11 Other investments (note 7.21 50 12 50 13 50 14 50 13 62 63 64 63 Investment in joint venture.. Share of net assets in Joint Ventures 1,617 1,288 1,679 1,351 64 63 Aspire is the benefiaal 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 Offi￿ is Aspire Leisure Centre, Wood Lane, Stanmore, Middlesex, HA7 4AP. Aspire is the beneficial owner of 1 ordinary share of £1 each of Aspire Trading 2014 Limited, 8 company incorporaled in England on 27 January 2014, company registration number is 08863046, registered office Aspire Leisure Centre, Wood Lane, Slanmore, Middlesex, HA7 4AP. Aspi￿ Trading 2014 Limited is a holding company which holds an investment in a joint venture consisting of 50Yo control in Aspire Law LLP. Aspire is the beneficial owner of 1 ordinary share of £1 each of Aspire Trading 2020 Limited, a company incorporated in England on 13 January 2020, company registration number 15 12398051, registered Offi￿ is Aspire Leisure Centre. Wood Lane, Stanmore, Middlesex, HA7 4AP. Aspire Trading 2020 Limited is a holding company which holds an investment in a joint venture consisting of 50 /¢ control in Aspire + Wealth Managemenl Limited. PROGRAMME RELATED INVESTMENTS Group and Charity 2025 £'ooo 2024 £'ooo Cost as at 1 April Addibons at cost 50 50 Cosl as at 31 March 50 50 The programme related investment relates to initial fvnding required In the set-up of Aspire Law LLP. The value of the programme related investrllent at the year end is shown at cost. Aspire Law LLP furthers the objectives of Aspire by providing a specialist service lo people with spinal cord injuries. 33 ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND REINTEGRA TION 'ASPIRE' Notss to the Financial Stslements Forthe year ended 31 March 2025 7.2 OTHER INVESTMENTS Group and Charity 2025 £'ooo 2024 £'ooo Mart