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2023-03-31-accounts

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

REGISTERED COMPANY NUMBER: 02894715 (England and Wales) REGISTERED CHARITY NUMBER: 1077595

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ATEGI LIMITED

MHA Statutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 6
Statement of Financial Activities 7
Balance Sheet 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 19
Detailed Statement of Financial Activities 20 to 21

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The company was incorporated on 4 February 1994 as a company limited by guarantee and became a registered charity on 29 September 1999.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Memorandum and Articles of Association state our objectives as-

Page1

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02894715 (England and Wales)

Registered Charity number 1077595

Registered office Flynn House Cardiff Road Rhydyfelin Pontypridd Rhondda Cynon Taff CF37 5HP

Trustees

Trustees
J R Davies Chair
P Smith Vice Chair
P Roberts resigned 27 June 2022
H Whitfield
C C James appointed 27 June 2022
E J James appointed 27 June 2022
S A Shah
R Pitts appointed 26 September 2022, resigned 28 June 2023
C Dowell-Bennett appointed 26 September 2022
B Mills appointed 26 September 2022

All of the above trustees are directors of the charity.

Senior management
L A Ryder Interim Chief Executive Officer
K Allen Chief Executive Officer (from 19 April 2022)
J Drummond Head of Finance (from 9 May 2022)
L Taylor Finance Business Partner
R Belaidi Head of Operations
K Thomas Head of Administration & Company Secretary
A Peycke Head of Business Development
R Smith Head of Human Resources & Organisation Development
Auditors
MHA
Statutory Auditor
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS

Bankers National Westminster Bank PLC Canton Cardiff (A) Branch 277 Cowbridge Road East Cardiff CF5 1WX

Investment Advisers Ravenscroft 20 New Street Guernsey GY1 2PF

Page 2

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of Ategi Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

On 30 June 2023 as a result of a recent merger, Watts Gregory LLP resigned as auditors in accordance with Section 516 of the Companies Act 2006 and re-engaged its services as MHA.

Approved by order of the Board of Trustees on 30[th] October 2023 and signed on its behalf by:

........................................................................ J R Davies - Chair

Page 3

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATEGI LIMITED

Opinion

We have audited the financial statements of Ategi Limited (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Page 4

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATEGI LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Th e specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inaccurate journals . We addressed these risks by carrying out specifically targeted procedures, which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ATEGI LIMITED

Use of our report

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

Julia Mortimer FCCA (Senior Statutory Auditor) for and on behalf of MHA Statutory Auditor CARDIFF CF23 8RS

Date: .............................................

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

Page 6

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
5
Domiciliary care and support
Investment income
4
Other income
6
Total
EXPENDITURE ON
Charitable activities
7
Domiciliary care and support
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
3,195
4,486,314
2,346
44,618
4,536,473
4,606,719
168,159
97,913
863,086
960,999		 Restricted
funds
£
-
48,876
-
-
48,876
48,876
-
-
-
-		 2023
Total
funds
£
3,195
4,535,190
2,346
44,618
4,585,349
4,655,595
168,159
97,913
863,086
960,999		 2022
Total
funds
£
-
5,333,273
8,660
56,669
5,398,602
6,115,952
26,772
(690,578)
1,553,664
863,086

The notes form part of these financial statements

Page 7

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

BALANCE SHEET 31 MARCH 2023

Notes
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
476,719
112,529
589,248
429,474
261,319
690,793
(319,042)
371,751
960,999
960,999		 Restricted
funds
£
-
-
-
-
11,168
11,168
(11,168)
-
-
-		 2023
Total
funds
£
476,719
112,529
589,248
429,474
272,487
701,961
(330,210)
371,751
960,999
960,999
960,999
960,999		 2022
Total
funds
£
321,843
117,877
439,720
490,736
366,052
856,788
(433,422)
423,366
863,086
863,086
863,086
863,086

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30[th] October 2023 and were signed on its behalf by:

............................................. J R Davies - Trustee

The notes form part of these financial statements

Page 8

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
(81,372)
(81,372)
(12,255)
(2,284)
-
62
2,284
(12,193)
(93,565)
366,052
272,487		 2022
£
(946,321)
(946,321)
(24,962)
(110,249)
621,321
810
7,850
494,770
(451,551)
817,603
366,052

The notes form part of these financial statements

Page 9

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Interest received
Dividends received
Decrease/(increase) in debtors
Decrease in creditors
Net cash used in operations		 2023
£
97,913
33,170
(168,159)
(62)
(2,284)
61,262
(103,212)
(81,372)		 2022
£
(690,578)
36,141
(26,772)
(810)
(7,850)
(159,370)
(97,082)
(946,321)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/22 Cash flow At 31/3/23
£ £ £
Net cash
Cash at bank and in hand 366,052 (93,565) 272,487
366,052 (93,565) 272,487
Total 366,052 (93,565) 272,487

The notes form part of these financial statements

Page 10

DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

ATEGI LIMITED

1. STATUTORY INFORMATION

Ategi Limited is a registered charity and private company limited by guarantee having no share capital. Members have agreed to contribute £1 in the event of a winding up. The company is incorporated in Wales in the United Kingdom. The registered office is Flynn House, Cardiff Road, Rhydyfelin, Pontypridd, CF37 5HP. The nature of the company's operations and principal activities is disclosed within the Report of the Trustees.

The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

There have been no material departures from the standard.

Going concern

No material uncertainties related to events or conditions that may cast significant doubt upon the entity's ability to continue as a going concern exist.

Significant accounting judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

The preparation of the financial statements requires management to make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, be likely to differ from the related actual results. The estimates and assumptions that have significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

This includes capital grants.

Income from charitable activities includes income received from local authority contract services which is recognised by reference to the point of completion of delivery of each service. Where the amount of income is contingent on future events, this is only recognised where the amount of income can be measured reliably, and it is probable that the economic benefits will be received. Services provided to clients which at the balance sheet date have not been billed, have been recognised as income and are included in debtors as accrued income.

Investment income is recognised on a receivable basis.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Government grants

Government grants are recognised on an accruals basis. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future related costs, is recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Expenditure and basis of recognition of liabilities

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs include all expenditure not directly related to the charitable activity.

Governance costs are the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with charitable activity. Included within this category are the cost of audit fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs

Certain expenditure, including governance costs, are, where possible, directly allocated to appropriate cost centres. Other costs are apportioned on the basis of time or office space used for those activities. Governance costs are those incurred in the management of the charity's assets, administration, planning, organisation and compliance with constitutional and statutory requirements.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold buildings 2% straight line
Leasehold property over the term of the lease
Office furniture and equipment 10-25% straight line
Computer equipment 33.33% straight line

Freehold properties are measured at market value which is considered to be their fair value, determined annually by independent professional valuers or the directors who are qualified in this respect. Revaluation surpluses and deficits are recognised in the revaluation reserve, with losses recognised only to the extent that they relate to a previous gain, otherwise they are recognised in the profit and loss account.

Freehold land is not depreciated.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, if there is an indication of a significant change since the last reporting date.

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price or, if no quoted market price is available, the price advised by the fund managers. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a money purchase Group Personal Pension Plan providing benefits for employees additional to those from the State. Certain employees are also members of the Local Government Pension Scheme (LGPS), a defined benefit scheme. The company makes contributions to the scheme in respect of these employees, but responsibility for any pension scheme deficits remains with their previous employer. The pension charge to the statement of financial activities represents contributions payable by the company to pension schemes in respect of the year.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of the ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

The benefits of lease incentives are recognised in the statement of financial activities over the lease period.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice if not more than 24 hours.

Financial instruments

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

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. DONATIONS AND LEGACIES

2023 2022 £ £ Donations 3,195 -

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

4.
INVESTMENT INCOME
Dividends from investments
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Contract fees
Housing Benefit
Supporting People
Grants
Grants received, included in the above, are as follows:
WCVA - VSEF small grant
6.
OTHER INCOME
Government grants
Kickstart scheme
Sundry income
7.
CHARITABLE ACTIVITIES COSTS
Domiciliary care and support
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Temporary staff costs
Staff and carer training
Carer payments, insurance and membership
Health screening and DBS checks
Travel, car hire and expenses		 Direct
Costs (see
note 8)
£
3,679,609		 2023
£
2,284
62
2,346
2023
£
4,008,533
362,108
115,673
48,876
4,535,190
2023
£
48,876
2023
£
38,952
4,906
760
44,618
Support
costs (see
note 9)
£
975,986
2023
£
1,091,140
17,469
31,688
2,475,819
13,798
49,695
3,679,609		 2022
£
7,850
810
8,660
2022
£
4,771,216
371,837
190,220
-
5,333,273
2022
£
-
2022
£
49,912
4,011
2,746
56,669
Totals
£
4,655,595
2022
£
1,278,921
68,078
38,041
3,264,356
13,231
32,114
4,694,741

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

9. SUPPORT COSTS

Domiciliary care and support Staff
costs
£
630,098		 Other
Governance
costs
costs
£
£
332,182
13,706		 Totals
£
975,986

Included within governance costs is £9,888 (2022 - £9,600) in relation to auditors' remuneration.

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets 2023
£
33,170		 2022
£
36,141

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 or for the year ended 31 March 2022.

Trustees' expenses

There were trustees' expenses for the year ended 31 March 2023 of £nil (2022 - £172 to 2 trustees) in relation to travel and subsistence.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
1,523,606
142,694
54,938
1,721,238		 2022
£
1,444,326
123,416
61,167
1,628,909

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

Administration
Support		 2023
18
48
66		 2022
13
47
60

No employees received emoluments in excess of £60,000.

The key management personnel of the charity comprise the trustees, the Chief Executive Office, Head of Finance, Finance Business Partner, Head of Admin, Head of Quality, Head of HR & OD, Head of Business Development and Head of Operations. The total employee benefits of the key management personnel of the charity was £460,938 (2022: £681,318).

This includes agency payments in relation to the Interim CEO.

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

All comparative data was unrestricted.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 April 2022
Additions
Revaluations
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
Revaluation adjustments
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Freehold
property
£
316,440
-
123,560
440,000
52,231
7,040
(52,231)
7,040
432,960
264,209		 Office
furniture
and
equipment
£
130,723
12,255
-
142,978
73,089
26,130
-
99,219
43,759
57,634		 Totals
£
447,163
12,255
123,560
582,978
125,320
33,170
(52,231)
106,259
476,719
321,843

Freehold land and buildings are held at valuation of £440,000 less depreciation. All such assets were revalued on 11 May 2022 by an independent professional valuer, on the basis of fair value which is in accordance with RICS Valuation Professional Standards - The Red Book, (2017 Edition).

Freehold land and buildings are the only category of tangible asset assets included at valuation. Freehold land and buildings would have been included on a historical cost basis as follows:

Aggregate cost
Aggregate accumulated depreciation
Aggregate carrying amount
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2022
Additions
Revaluations
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 2023
£
316,440
57,014
259,426		 2022
£
316,440
52,231
264,209
Listed
investments
£
117,877
2,284
(7,632)
112,529
112,529
117,877

There were no investment assets outside the UK.

Investments comprise other investments of £112,529 (2022 - £117,877). The historical cost of the investments is £120,197 (2022 - £120,197).

Investments are held as part of reserves policy to generate income and for their investment potential.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2023
£
338,029
-
91,445
429,474
2023
£
44,425
36,158
80,766
168,861
330,210		 2022
£
346,333
2,700
141,703
490,736
2022
£
86,950
34,017
99,105
213,350
433,422

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Included within accruals and deferred income above is deferred contract fee income of £32,314 (2022 - £123,872). Movement in the year is as follows:

Movement in the year is as follows:
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous years
Deferred income at 31 March		 2023
£
123,872
32,314
(123,872)
32,314		 2022
£
99,078
123,872
(99,078)
123,872

At the balance sheet date, the charity was holding funds received in advance for services to be provided in 202324.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2023
£
18,201
27,789
45,990		 2022
£
34,668
44,387
79,505

Total operating lease payments charged to the statement of financial activities in the year amounted to £41,686 (2022 - £87,165).

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

19. MOVEMENT IN FUNDS

At 1/4/22
£
Unrestricted funds
General fund
863,086
Revaluation reserve
-
863,086
TOTAL FUNDS
863,086
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
4,536,473
Restricted funds
WCVA – VSEF small grant
48,876
TOTAL FUNDS
4,585,349
Comparatives for movement in funds
At 1/4/21
£
Unrestricted funds
General fund
1,553,664
Restricted funds
Investment into charity - professional fees
-
TOTAL FUNDS
1,553,664
Comparative net movement in funds, included in the above are a
Incoming
resources
£
Unrestricted funds
General fund
5,398,602
Restricted funds
Investment into charity - professional fees
-
TOTAL FUNDS
5,398,602		 Net
movement
in funds
£
97,913
-
97,913
97,913
Resources
expended
£
(4,606,719)
(48,876)
(4,655,595)
Net
movement
in funds
£
11,330
(701,908)
(690,578)
s follows:
Resources
expended
£
(5,414,044)
(701,908)
(6,115,952)		 Transfers
between
funds
£
(175,791)
175,791
-
-
Gains and
losses
£
168,159
-
168,159
Transfers
between
funds
£
(701,908)
701,908
-
Gains and
losses
£
26,772
-
26,772		 At
31/3/23
£
785,208
175,791
960,999
960,999
Movement
in funds
£
97,913
-
97,913
At
31/3/22
£
863,086
-
863,086
Movement
in funds
£
11,330
(701,908)
(690,578)

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

19. MOVEMENT IN FUNDS - continued

WCVA - VSEF small grant

Funding has been received from WCVA in respect of the Third Sector Resilience Fund - Phase 3. The funding will enable the company to employ a Fundraising manager to develop a fundraising strategy and diversify income primarily through Trusts and Foundations. The funding will also enable the company to establish a Shared Lives Carer recruitment team.

Prior year only

Designated fund

During the prior year the Board of Trustees, working closely with the executive team, identified and developed a phased approach to strengthening the company's governance and structure, and in order to achieve this set aside designated funds during the year, for the strategic use of surplus reserves to invest in refining service delivery and the furtherance of the organisation's charitable aims. This has enabled the charity to better serve all stakeholders and, in particular, the individuals Ategi came into being to support.

20. PENSION COMMITMENTS

The assets of the money purchase Group Personal Pension Plan are held separately from those of the company in funds administered by Scottish Widows.

Certain employees are also members of the national Local Government Pension Scheme (LGPS), a funded defined benefit scheme with assets held in separate trustee-administered funds. The company makes contributions to the scheme in respect of these employees, but responsibility for any pension scheme deficits remains with their previous employer.

Contributions made by the company to the schemes during the year amounted to £54,938 (2022 - £61,167). There were no outstanding pension contributions at the balance sheet date (2022 - £nil).

21. RELATED PARTY DISCLOSURES

There were no other related party transactions for the year ended 31 March 2023 or for the year ended 31 March 2022 that require disclosure.

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Dividends from investments
Deposit account interest
Charitable activities
Contract fees
Housing Benefit
Supporting People
Grants
Other income
Government grants
Kickstart scheme
Sundry income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Temporary staff costs
Staff and carer training
Carer payments, insurance and membership
Health screening and DBS checks
Travel, car hire and expenses
Support costs
Staff costs
Wages
Social security
Pensions
Other costs
Insurance
Printing, postage and stationery
Advertising and promotions
Carried forward		 2023
£
3,195
2,284
62
2,346
4,008,533
362,108
115,673
48,876
4,535,190
38,952
4,906
760
44,618
4,585,349
973,207
83,972
33,961
17,469
31,688
2,475,819
13,798
49,695
3,679,609
550,399
58,722
20,977
630,098
28,683
16,057
26,126
70,866		 2022
£
-
7,850
810
8,660
4,771,216
371,837
190,220
-
5,333,273
49,912
4,011
2,746
56,669
5,398,602
1,130,932
96,903
51,086
68,078
38,041
3,264,356
13,231
32,114
4,694,741
313,394
26,513
10,081
349,988
36,146
17,316
17,236
70,698

This page does not form part of the statutory financial statements

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DocuSign Envelope ID: 9F274072-932E-4AB5-9795-80CBA8180751

ATEGI LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Other costs
Brought forward
Sundries
Rent
Cleaning and waste collection
Utility costs
Staff welfare
Telephone
Conferences and room hire
Professional fees
Repairs and maintenance
Sundry expenses
Bank charges
Bad and doubtful debts
Rental of equipment
Portfolio management fee
Website costs
Fixtures and fittings
Governance costs
Accountancy fees
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Gains/(losses) on fixed asset investments
Gains/(losses) on fixed assets
Net income/(expenditure)		 2023
£
70,866
2,443
27,437
15,772
20,009
11,377
15,949
3,206
56,722
57,841
295
2,049
-
15,046
-
-
33,170
332,182
13,706
4,655,595
(70,246)
(7,632)
175,791
97,913		 2022
£
70,698
16
84,175
10,696
11,737
13,677
19,883
2,582
713,924
54,719
389
2,334
1,892
10,559
2,776
25,392
36,141
1,061,590
9,633
6,115,952
(717,350)
26,772
-
(690,578)

This page does not form part of the statutory financial statements

Page 21