Company registration number.. 03941946 Charity registration number.. 1082345 The Dyslexia Association IA company limited by 9uaranleel Annual Report and Financial Statements for the Year Ended 31 December 2023 Page Kirk LLP Chartered accountants and chartered tax advisers Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB
The Dyslexia Association Contents Reference and Adminislralive Details Trustees, Report 21010 Independent Examinerfs Report Statement of Financial Activities 121013 Balance Sheet 14to15 Notes lo the Financial Statements 16to28
The Dyslexia Association Reference and Administrative Detalls Charity Registration Number 1082345 Company Roglstratlon Number 03941946 Trustees D Caunl AJKay5 T W Hiles J Mcmurray D Morley N J Purcell Secretary K E Carter Reglstered Office Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB Independent Examiner Jarnes Haywood ACA Page Kirk LLP Chartered accountants and chartered lax advisers Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB Bankers Barclays Bank PIC Nollingham Group PO Box 18 High Street Nottingham NG1 6FF Page 1
The Dyslexia Association Trustees, Report The Iruslees, who are directors for the purposes of ¢ompany law. present the annual report together with the financial statemenls and auditors, report of the Charitable company for the year ended 31 December 2023. Referenc& and Administrative Details Charity Registration Number.. Company Registration Number.. 1082345 03941946 The charity is incorporated in England and Wales. Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB Registered Office-. Trustees and officers The trustees who served the charity as directors of the company during the reporting period were as follows". Trustees.. D Caunl lappoinled 1 January 20231 AJKays T W Hiles J Mcmurray D Morley lappoinled 1 January 20231 N J Purcell lappoinled 1 January 20231 E B Rutherford Isigned 6 September 20231 D Warren Iresigned 6 September 20231 Secretary.. K E Carter Page 2
The Dyslexia Association Trustees. Report Chairman's Introductlon for the yèar ending 3111212023 The annual trustee report is a chance lo acknowledge the achievements of the year, celebrate successes, and look towards the ¢hallenges and opportunities of the future. The Dyslexia As50cialion continues lo meet ils aims of supporting people of all ages with dyslexia, as well as their familieslcarers, educators, employers. and the wider community. In 2D23 the charity has continued lo expand their support lo include those with overlapping neurodivergent differences introducing a new SpLD assessment Its lake this into account and help individuals with a more holistic approach to providing specialist Services. The charity had a good financial year in 2023. finishing in profil and has confidently set a challen9in9 budget for 2024. Renewing assessment spaces. investing in new eouipment, and funding a pay structure for employees is integral lo ensuring the success ol the organisalion. Our free Helpline and advice service remains a Core activity of the charity. The Helpline is funded fiom other income streams (chargeable services) and general fundraising activities. We remain dedicated to supporting this activity together with the website as a means of informing and conducting a dialogue with individuals, parents, educators, employers, and the general public. The websrte acts a5 the '5hop Windo for the Association and Is often the first point of contact with ¢lients. The post of interim CEO was made permanent in June, and a new three-year strategic plan was devised in corisullalion with stsff and Trustees. This was implemented from September 2023. The strategic plan identifies four focus areas of delivering more charitable aclivily, building Gapacity, renewing our slrenglhs, and innovating lor the future. The plan also Identifies measurable success indicators which will be monitored quartedy by trustees. Structure, Governance and Management The Dyslexia Association Iknown throughout this pOrt as TDA or the Associalionl is a company limited by guarantee within the meaning ol the Companies Act 2006 and a registered charity governed by the rules sel out in our Memorandum and Articles of Ihe company Ilasl updated 18107120071. The As50cialion satisfies the requirement under Section 60 of the Companies Act 2006 to omit the word "Limited from its name. The Association has a board of trustees which is empowered lo make decisions on behalf ol the Asso¢ialion and does so al ils regular meetings. The board of trustees are responsible for the govemance of the charity and have the discretion under the Companies Act lo manage the charity how il sees fil, providing this is in-line with the Articles of A5s0cialion and Charities Board guid8nce and rules of engagernenl. The board ol trustees meets every quarter to review the performance and strategic plans and objectives of the A5S0Clation with a quorum ol no less Ihan 3 trustees. The board of trustees, delegates financial considerations lo their financial committee which meets every quarter and reports directly to the board ol Iruslees for all financial decisions. Page 3
The Dyslexia Association Trustees. Report Recruitment and appointment of trustees The TDA Board of Tru51ees is appointed In accordance with the Articles of Association of the Company and the agreed lems ol reference. The company shall have a board of Iruslees comprising no less than five and no more than len members, as follows.. The Chairper50n is nominated by the board of Iruslees as a person who possesses the necessary skills to lead the board of Iruslee5 and 15 officially appointed following an AGM (Annual General Meelingl or al a general meeting if the post is vacant. The board of trustee's shall comprise of a maximum of len1101 Iruslees and a minimum of five {51 who shall be members of the Association. Proposed trustees shall be officially voted in and elected lo the board as Iruslees at an Annual General Meeting IAGMI. New trustees are interviewed in person by a minimum of 3 existing members of the board of Iruslees. If the number ol trustees falls below ten1101. then a maximum ol four141 Iru51ees may be CopIed to fill the vacancies. The latter may or may not be members of the Association arid will reliie al the next AGM whereupon they may sland for re-election. Elections shall be conducted in accordance with such procedures as found within the current Articles ol Association al that lime. Members elected to the board of trLJStees shall serve for a period of three years. All trustee positions are 8dvertised through the Charit$ network of member5 and supporters. If a Iruslee elects lo retire, the Iruslee will be retired from the TDA Board of Directors al the next general meeting following their written confirmation and nolificalion of reliremenl. Retirin9 trustees shall be eligible lor re*leclion in line with the Articles of Association. The TDA Board of Trustees may appoint a new temporary trustee lo fill a casual vacancy on the board in line with the Articles of Association. Prospective Iruslees will be invited lo meet the current board of trustees and Association staff. The decision on whether to invite and subsequently co-opt the individual onto the board of Iruslees will be detemined by the skill sets on offer and whether these match and would benefit the requirements of the Association. Where a Candidate is considered suitable, the board of Iruslee will lake a vole on whether lo appoint the person. Where the board signrfies ils approval, the candidate will be appointed lo the board ol trustees. TDA accepted two Iiuslee resignations in 2023 and ele¢led two new members al the AGM who were Co-opted al the beginning of January 2023. So, we continue with eight Iruslees.. however. we always welcome suitable candidates with appropriate skills and experience to join the board. At present, the board is of the opinion that il can function effectively with the minimum number of tnjslees due lo their experience and approach and will continue lo do 50 pending the appointment of additional members. Twstee Induction and Training New Iruslees will undergo an induction process, including an overview of the Association and f(5 strategic plans. 11 will also include appropriate published guidance from the Charity Commission on the roles and responsibilities ol trustees and The Dyslexia Association terms ol reference for trustees. Page 4
The Dyslexia Association Trustees, Report Management of the Charity The trLJStees have delegated the day-l04ay management of the charity lo their permanent Chief Executive Officer Kay Carter. The board ol Iruslees meet with the CEO quarterly al a pre-arranged date and lime lo discuss business affairs and conduet a review ol the financial standing of the Association. Ad-hoc interim meetings are also called lo address specific projects or topics as required. Corporate Governance Intemal controls over all foms of commercial commitment and expendituie ntinue lo be refined lo improve efficiency. Processes are in place to ensure that performance is monitored, and that appropriate management information is prepared anii reviewed regularty by the CEO, the board of Iruslees, and the finance committee. The systems of inlemal Control are designed to provide reasonable. bul not absolute, assurance against material misslalement or loss. They include.. a strategic plan and an annual budget approved by the trustees., regular consideration by the finance committee ol financial resuhs, variances from budgets, performance Indicators and non-financial performance indicators, delegation of day-to-day management authority and segregation of duties., idenlificalion and management of risks,. with a nominated lead Iru5tee. Rlsk Management The trustees have developed 8 risk management register lo assess and manage business risk. The risk iegisler is divided into the following sections.. 1. Strategic 2. Compliance 3. Financial 4. Operational 5. People 6. Security 7. Environmentallpolilical Each Iruslee has a lead responsibilrty for specific risks. Where appropriate, systems and procedure5 have been established lo miligale the risks the charity fa¢es. The trustees have determined that a new business conlinuity plan incorporating risk Management, and an impact assessment should be prepared and implemented during 2024 to ensure all current risks can be mitigated. Page 5
The Dyslexia Association Trustees, Report Oblects, Strategic Objectives and Principal A¢tivltles of the Charity The trustees are keen to ensure that the work of the charity meets the public benefit requirement outlined in the guidance published by the Charity Commission "Public Benefit.. the public benefit requirement (published Sèptember 20131. To this end Ihe Irustees and management team make certain that the overall purposes ol the Association. lal remain beneficial in character.. and Ibl that they benefit the public in general or a sufficienl section of the general public.. and Icl in pursuing ils objectives. the Association continues lo have regard to Charities Commission guidance when exercising their powers and dulie5. The objects and principal activities of the Association remain the provision of high quality. professional services for all neurodivergent individuals and not just those who are dyslexic. The principal objective that underpins our work is lo enrich the lives of all people with dyslexia by educating and informing the public about the characteristics and where possible assisting children and adults with dyslexia lo Teach their full potenlial. Activities to complete TDA goals The Association offers a range of seNices summarised briefly below. Helpline A free, confidential service that acts as the first point of contact lor many clients throu9h a phone call, website enquiry or social media such as Facebook. Callers only pay the standard operator call charge5. The Servi provides information, advice, and guidance on all aspects of dyslexia and other associated specifie learning difficulties, as well as information about the paid-for services available which are provided by the Association. Approximately 50010 of calls lo the Helpline are from adults and employers, with the remainder being initiated by parents and schools, and in 2023 TDA supported 5880 calls lo our helpline services. Advice Sessions Provided free of charge to dyslexic clients and families as a service to de-brief di8gnoslic assessments and to provide Assistive Technology advice or by way of a pre-tLJition interview. A voluntary donation toward5 the cost of the advice sessions is appreciated but is not a mandatory requirement. Screening This seNice is available for both adults and children lo identify indicators of dyslexia or dyscalculia. Diagnostic A$$e$$ments 1. Diagnostic assessments of dy51exia for all ages administered by a qualified professional. 2. Holistic assessments for a range of SpLDlneurodivergenl differences (including dyslexia) lor adults. Exam Access Assessments This assessment is for students and pupils who requi written evidence and recommendations for their exams, this is known as Exams Access Arrangements. Workplace Needs Assessments Assessmenl administered by a qualified & experienced dyslexia specialist. Recommendations are made lor bespoke reasonable adjustments in the workplace as part of the duty ol the Equality Act 2010. Page 6
The Dyslexia Association Trustees, Report Workplace Support and Training Individual 1.1 workplace training and coaching lating to specific assistive technology 50ftware, and coping strategies. One-to-one Tultion Service5 (Adults and Children For children and adults, luilK)n covering literacy, numerocy, Study skills and attention lo other areas of difficulty. Apart from the Helpline service, our services are chargeable, and they provide the charity with an income. We endeavour lo keep our charges to a minimum, bul they do allow us lo remain operational, and lo make investments into the organisation to cover operational overheads such as pay increases, upgrades lo hardware, staff CPD (Continuou5 Professional Development) and the development of new programmes. Prices for the different services are sel and reviewed by the senior management team and overseen by the finance committee. They are published on oui websrte. The Association's offices are located a mile from Nottingham city centre. The offices are in a shared building that is owned by a local firm of accountants. We rent several administrative and service delivery rooms within the building at a competitive rale given the square lootsge and ils location. There is a large car park to the front of the building and disabled parkin9 to Ihe rear to facililale access. The location of the office is well served by public transport having bus and tram slops nearby. The offi¢e has good facilities lo host disabled clients. The Criterialmeasures Used to Assess Suc¢e$s in the Reporting Period Success is monitored by outcome data measured against financial budgets. The CEO also provides a written report lo the board of Iruslee5 quarterly. Outcome dats is quanlilied for each area of activity. Real-time budget information 15 available to all trustees through the internal land securel TDA webpages. Publi¢ Benefit Currenl research suggests that between 10-150/0 of the general population experiences some level of dyslexia. Wilhin the E8sI Midlands, this means that there are an eslimaled 460,000 (populatn 4.6 million) individuals who may have indicators ol. and practical experience of, dyslexia. The Association's charitable activities focus on the provision of services lo these citizens, intending lo provide the diagnosis, training. and support necessary to help them productively manage their differences as well as supporting parents, educators and employers and educating the wider community to raise awareness of the Condition. Dyslexia is cOgnised as a neurodivergent condition, alongside ADHD (Attention Deficit Hyperadive Disorderl, dyspraxia, dyscaleulia, and autism. To this end TDA has begun lo work across the wider neurodivergent spectrum The Iruslees agreed that from January 2020, 109/0 of any profil made would be added lo the Associalion's bursary fLJnds each financial quarter. The funds will be used lo support more client5 on low incomes who would benefit from accessing our services. In 2023 we supported 13 individuals lo acces5 diagnostic asse55rnenls, screenings, and specialist tuition. Fundraising The Association raises funds through volunteers taking part in challenge events and voluntary donations from supporter5. The charity adheres lo the fundraising regulations, and no cold calling lakes place. Page 7
The Dyslexia Association Trustees, Report Achievements, Financial Perfomiance and Future Plans Financial highlights The surplus lor the year ended 31 December 2023 is £38,657 compared to a deficit of £11,958 for the year ended 31 December 2022. The principal variance5 are detailed below.. Donations have decreased from £37,570 to £5,053 due to a large legacy donation in 2022. Other income has decreased from £9.627 10 £611 due to one-off access lo work grants in 2022. Income from charitable activities has increased by £102,564 from £375,785 to £478,349, around 250/0, due lo provision of an increased number of sessions in the financial period. The increase in income is ollsel against a smaller increase in expenditure. Expenditure on charrtable activities has increased £13,911 from £431,544 10 £445,455. This is due lo the following key variances, amongst others". Total staff costs have increased by £11.940 with wages & salaries increasing by £10,269, due lo the Tise in numbers of staff. There has been a fall in recruitment & stsff training costs from £12,820 10 £4,582 in 2023., Associate cosls have risen by £13,860 as a direct consequence of increased service delivery.. Assessment and leaching costs have increased by £2,066., More bursaries were awarded lo individuals in 2023, resulting in a £2.073 increase in costs., Computer and maintenance costs have decreased by £7.349 because a significant amount of computer equipment was purchased in 2022. R$serye5 Policy The charity requires reserves lo allow TDA lo function in the short term. The minimum level of reserves lo be maint8ined should also satisfy all TDA'S legal obligations should TDA cease lo be a going concern, enabling proper notice lo be given lo staff and beneficiaries and for due payments lo be made lo staff Islalulory redundancy) and lo other organisalions with whom we do business. The Iruslees have considered the reserves currently held by the Association as of 31 sl December 2023 and have concluded that these meet corporate responsibilities and are sufficient lo ensure that the Associatlon continues lo operate as a going concern in the future. The trustees h8ve also reviewed the requirements and the risks faced by the Association in both the short and medium-lerm and have a clear plans lo exe¢uie in the evenl of a significant ehange in ils financial position. Designated Dissolution Fund The unre51ricted lund5 include a designated dis501ulion fund of £46,944. Should the charity cease lo be a going concern al any stage, this surn is required 10 $31isfy all ils legal obligations, permitting proper notice to be given lo staff and beneficiaries and for all due payments lo be made lo staff Islaff redundancy) and to other organisations with whom we do business. This amount is reviewed annually lo ensure the reserves rem8in appropriate to the circumstances of the staff and the charity al the time they are reviewed. Bursary Fund The bursary fund on 31st December 2023 is £10,757. During 2023, the bursary fund provided financial support lor 13 individuals part funding diagnostic assessments, screenings, or tuition for both adulis and children. General Fund As 0131 sl December 2023, the general fund was £247.624. Page 8
The Dyslexia Association Trustees, Report Plans for th& Future Periods The accounts show a balance of unreslricled funds al the year-end of £305,325. After the deduction ol the designaled dissolution and buisary funds. il leaves £247,624 equating to just over seven months running costs. Trustees have therefore committed lo maintain the charity's long term reserve account and lo re-assess the risks lo which the organisalion is exposed as il grows, relracls, or lakes on new commitments. The As50cialion currently banks with two financial organisalions. wth the bulk of the funds in tsne bank. To benefit from the protection of the Financial Conduct Authority rules, the trustees have decided that funds should be spread across a sufficient number of independent financial organisalions to keep each under the £85.OQO limit. Al the yearond £133.938 was held within two Barclays bank accounts, and £170,701 was held within two Charity savings accounts. As mentioned in previous years TDA opened additional accounts ID fall within the financial limits under the Financial Conduct Authority IFCAI for protected balances under £85.000. Truslees opted lo invest in savings accounts with The Charity Bank, and COIFF. Accounting Policies The Iruslees consider that there are no material uncertainties about the Association's abilrty lo continue as a going concem. Appreciation of Support The Iruslees wish to express their gratitude lo all those who have supported the charty duTing the year, and particularly those supporters who have raised funds through personal sponsored challenges and payroll giving. During 2023 the TDA received total donations of £5,053 from". individuals d1CtlY individuals via fundraising plattorms15uch as JuslGivingl individuals via payroll giving corporate fundraising and other charitable trust giving Unsolicited legacy giving Future Plans TDA will continue to Wofk towards raising awareness of dyslexia and other forms of neurodiversrty and the impact il can have on Individuals. We will continue our aim of providing high-qualrty services to meet the needs of people of all ages with dyslexia, as well as supporting their familie51carers, educators. and employers. Page 9
The Dyslexia Association Trustees, Report Siat•mont of trusees' responslbllltie5 The Iruslees (who are also the directors ol The Dyslexia 5¢¢lation for the purposes of company lawl are re6ponsible for pr&paring the IrusleÈs' reporl dnd the financial 81atemenls In accordance with appliLable law 8ncl United Kingdom Accounting Standards Iuniled Kingdom Generally Accepled Accounting Practs¢el, including Fvis 102 'The Financial Reporting Standard appl.'cable in the UK and Rei)ublit of Ire13rid" Cotnpany law requires tho Iru51e¢s its preparp fin8n¢ial $18lemenis for each financial year. Under Lompiiny law the Iruslees musl not approve th8 financial slgtlefflenls unles5 they aro satisfied that they givè a true fair view of the Slate ol affairs of the charitable company and of the Incoming resources and applraih?n of sourCes, Inclucling ils incotne 8nd e¥pendilure. of the charitable company for Ihai period. In preparing Ihese financial Stslemen15, the Iruslees are required 10.- select suitable aceounling policies and apply them consistently., observe Iha methods and principles In the Charilies SORP". mak8 judqefflents and estimat8s Ihal ar8 reasonable and prudent". slalo whelher applicable ar.pounliiiy bldndards, comprising FRS 102 havo been followed, subject lo any mai8riai departures disclosed and explainecl in the financial slatemenis.. and prepare the finantr.l slalèineiils on the goip,g conc8rn basis unless Il is inapproprrdle to presum8 that rhe charitable compB Try will tonliTrue in businèss. The Iruslees are rpsponsible for keeping proper a¢counling records that can dist105e with reasonable accoiacy al any lime the financial posilion of th& ch2rilable company and enable thetn lo ensure that th8 financial 5talemenls ¢ornply with the Companies Aei 2006. Th8y ar¢ also .'esponsibl for safeguaroing Ihe Jssels of the ¢h3ri1able c(yni)any and hen¢e for taking reasonatyiE Steps 'or the prevention and detection ol frauct and olher irregularities. The trust88s are responsible for Ihe tnainlenance 8nd integrity of the ¢orporBle and financial inform21ion included on Ihe charitable company's websile. Legislation governin9 the preparèjtion and di8semination of financial 5tstemoTrls may differ from leg618tiun in other jurisdictions. DisGlosure of Snftsimalion to audltor Each Iruslee has taken steps Ihat they ought to have taken as a trustee in order 10 make Ihorn5elves aware uf 3ny rolevanl audit inlormalion 8nd lo establish that cliArily's dudilor is awa of Ihai inlormalion. The Iruslees confirm thai Iher8 is no relcvani information that they knobv ol and of which they know the auditor is un8w3re. The annual report was approved by tlw Irusle8s of the charlly on 8 August 2024 and signed on 115 behalf by.. T VV Hiles Trustee Page 10
The Dyslexia Association Independent Examiner's Report to the trustees of The Dyslexla Association ('the Company,) l port lo the charity Iruslees on my examination of the accounts of the Company for the year ended 31 December2023. Responsibilities and basis of report As the charity's Iruslees of the Company land also ils directors for the purposes of ¢ompany lawl you are responsible for the preparation ol the accounts in accordance with the requirements of the Companies Acl 20061'lhe 2006 Acl'l. Having Satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charitie5 Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner'$ Statement Since the Company's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified lo undertake the examination because l am a member of , which is one of the listed bodies. I have cofflpleled my examination. I confirm that no mallers have come lo my attention in ¢onne¢lion with the examination giving me cause lo believe.. 1. accounting record5 were not kept in respect of The Dyslexia Association as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those ie¢ords,' or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Ad other than any requirement that the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent examination., or 4. the 8ccounls have not been prepared in accordance with the methods and principles of the Slalemenl of Recommerided Practice for accounting and reporting by charities lapplieable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection wth the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. James Haywood ACA Chartered accounlanls and chartered 18x advisers Sherwood House 7 Gregory Boulevard Nottingham NG7 6L8 8 August 2024 Page11
The Dyslexia Association Statement of Financial Activities for the Year Ended 31 December 2023 Ilncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unre$lri¢ted funds Total 2023 Note Income and Endowments from: Donations and grants Charitable activities Investment income Other incoming resources Total income 5,053 478,349 4,614 611 5,053 478,349 4,614 611 488,627 488,627 Expenditure on.. Raising funds Charitable activities Other expendilure Total expenditure {2161 1445,4551 14,299 12161 1445.4551 14,299 449,970 449,970 Net income 38,657 38,657 Nel movement in funds 38,657 38,657 Reconciliation of funds Total funds brought forward 268,668 266,668 Total funds carried forward 21 305,325 305.325 The notes on pages 16 10 28 form an integral part of these financial stalemenls. Page 12
The Dyslexia Association Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2022 Note Income and Endowments from: Donations and grants Charitable activities Investment income Other incoming resources Total income 37,570 375,785 665 9,627 37,570 375,785 665 9,627 423.647 423.647 Exp¢nditure on: Raising funds Charitable activities Other expenditure 12161 1431,5441 13,8451 12161 1431,5441 3,845 Total expenditure 435,605 435,605 Nel expenditure Transfers bebNeen funds 111,9581 111,9581 Nel movement in funds 111,1121 1846} 111.9581 Reconciliation of funds Total funds brought fotward Total funds carried forwartl 277,780 278.626 21 266,668 266,668 All of the charty's activities derive from continuing operations during the above iwo periods. The notes on pages 16 10 28 form an integral part of these financial ststemenls. Page 13
The Dyslexia Association (Registration number: 03941946) Balance Sheet as at 31 December 2023 2023 2022 Note Flxed assets Intangible assets Tangible assets 14 15 912 3,661 4,573 6,300 6,300 Current assets Debtors Cash al bank and in hand 16 17 27,188 304,639 331,827 21,117 255,348 276,465 Creditors: Amounts falling due within one year 32,802 14,370 Net current assets 299,025 262,095 Net assets 305,325 266.668 Funds of th& charity: Unreslricled funds 305,325 266.668 Total funds 21 305,325 266,668 The notes on pages 16 10 28 form an integral part of these financial slalements. Page 14
The Dyslexla Assoclation (Rogistration number: 039419461 Balance Sheet as at 31 December 2023 For the financial year end.'ng 31 De¢ernber 2023 the charity was entitled lo cxemprion from audit under section 477 of tho Companitts Aci 2006 rolaling lo small cornpanits. Directors, iesponsibilllies-. The mombers have not reqlsired the charlly to obtain an audit of ils accounts for the yèar in queslion in dccoidaiiLe with section 476., and The directors acknowledge thèir responsibililies for coniplyn9 Wlth lh8 requirements of Ihe Act ivith respect 8CCOUnting records and the preparation of 2ccounls. Thosè financlal st31emÉnts have boon prgpargd in accordance with the specisl pro'lisions rèlating lo companies $ubjeci lo the small companies re9imo within Parl 15 of lh8 Companigs Acl 2006 Thp finanr,iHI slalernppl.4 nn p•gps 1? 10 ?B were approved by Ihe Iru51p.es. and aulhorispr5 fnr issue on 8 Aucus12tJ24 and signed on their behalf by.. T W Hires Trustee The nole5 Dn pa9es 16 lo 28 lorrn dll Iiiiegr31 parl ol these fi¥iaiiLi31 slaienients. Page 15
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 1 Charity $tatu$ The charity is limited by guarantee. incorporated in England anij Wales, and consequently does not have share capital. Each of the Iruslee5 is liable to contribute an amount rlol exceeding £1 towards the assets of Ihe charity in the event of liquidation. The address of ils registered office is.. Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB These financial slalemenls were aulhorised for issue by the Iruslees on 8 August 2024. 2 Accountlng policies Summary of significant accounting policies and key accountlng estimates The principal accounting policies applied in the preparation of these financial slalements are sel out below. These policies have been consislenlly applied lo all the yeais presented, unless olhernise slated. Basis of preparation The financial statements have been prepaied in accordance with Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151- Icharilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Dyslexia Association meets the definition of a public benefit entity under FRS 102. Assels and liabilities are inrtially recognised 81 historical cost or transaction value unless otherwise slated in the relevant ac¢ounling policy notes. Going concern The Iruslees consider that there are no material uncertainties about the charity's ability lo continue as a going concern nor any significant areas of kJn¢ertainty that affect Ihe carrying value of assets held by the Charity. Exernption from preparing a cash flow statement The Charily opled to early adopt Bullelin 1 published on 2 February 2016 and have therefore not included a cash flow slalemenl in these financi81 slalements. Page 16
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 Key sources of estimatlon uncertalnty Preparation of the financial slalements requires management lo make significant judgements and estimates. During the preparation of these financial statements there have been no significant or material judgements and eslimales that require disclosure. The carrying amount is £-12022 -£-1. Fund structure Unre51ricled income funds are general funds that are available for use at the Iruslees discretion in furtherance of the objectives ol the charity. Designated funds are unreslricled funds sel aside for specific purposes at the dis¢relion of the Iruslees. Income and endowments All income is recognised once the charity has enlillemenl lo the income, f( IS Probable that the ineorne will be received and the amount of the income receivable can be measured reliably. Donations arid grants are recognised where there is enlillemenl, certainty of receipt and the amount ¢an be measured with sufficient reliability. Such income 15 only deferred when the donor specifies that the grant or donation must be used in future accounting periods. Income from charitable aclivilies, being income from service delivery and dyslexia publications, is recognised on a receivable basis. Incorne from service users is included on the basis ol sessions invoiced or work done in accordance wilh any contract terms. Income from fundraising events is classified as other trading activities and is recognised on a receivable basis. Income from investments 15 reco9nised on a receivable basis. Govemment grants are accounted for using the accrual model. Expenditure All expenses are accounle(J for on an accruals basis. Expenditure on raising fund5 are those costs incurred in attracting voluntary income. Charitable activities include direct expenditure associaled with service delwery being dyslexia assessment, screening. tuition. teaching and tutor training. A second charitable activity is dyslexia publications and includes direct expenditure associated with the sale of books and resour$, newsletter subscriptions and library subscriptions. Expenditure on other items include those incurred in the governance of the charity and ils assets and are primarily associated with slalutory requirement5. Page 17
The Dyslexia Association Notes to the Finan¢ial Statements for the Year Ended 31 December 2023 Flxed assets Fixed assets are initially recorded al cost. Support costs Support costs include central functions and have been allocated lo a¢tivity cost calegones on a basis consislenl with the use of resources, for example, allocating property costs by floor areas, or per capila, staff costs by the lime spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with eonsli(utional and statutory requirements, including audit, strategic management and Iruslees meetings and ieimbursed expenses. Taxation The charity is considered lo pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, Ihe chaiily is potentially exempt from taxation in respect of income or eapital gains rec&ived within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 258 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. Intangible assets Intangible assels are slated in the Balance Sheet at cost le55 accumulated amortlS8tion and impairment. They are amortised on a slraighl line basis over their estimated useful lives. Depreciation and amortlsation Depreciation 15 provided on tangible fixed assets so as lo write off the cost or valuation, les5 any eslimaled residual value, over Iheir expected useful economic life as follows.. Asset class Office equipment Fixtures and fittings Other tangible asset Depreciation method and rate 250/0 or 33.330K slraighl line basis 250A slraighl line basis 33.33Q/o St¥aight line basis Trado debtors Trade debtors are amounts due from customers for merchandise sold or services perfomied in the ordinary course of business. Trade debtors are re¢ognised initially at the transaction price. They are subsequently measured al amortised Cost using the effective interest method, le55 provision for impaimenl. A provision for the impairment of trade debtor5 is established when there is objective evidence that the ¢harily will not be able lo collect all amounts due a¢¢ording lo the original terms of the receivables. Page 18
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lem highly liquid investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations lo pay for goods or servi$ that have been acquired in the ordinary course of busines5 from suppliers. Accounts payable are classified as current liabilrties if the charity doe5 not have an unconditional right, al the end of the reporting period, lo defer settlement of the ciedilor for at least bNelve months after the reporting dale. If there 15 an unconditional right to defer selllemenl for al least twelve months after the reporting dale. they are presented as non<urrenl Trade creditors are recognised initially al the transaction price and subsequently measufed al amortised cost using the effective interest method. Pensions and other post-retirement obllgatlons The charity opeiales a defined contribution pension scheme. Contributions are Charged in the stslemenl of financial activities as they become payable in accordance with the rules of the scheme. Page19
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 3 Ineome from donations and grants Unrestricted Funds Restrl¢ted funds Total 2023 Total 2022 Donations and grants 5,053 5,053 5.053 37,570 37,570 5.053 4 Income from charitable activities Unrestricted Funds Restricted funds Tolal 2023 Total 2022 Screening, assessment & tuition Service delivery 478,349 478,349 375,785 5 Income from investments unstrICted Funds Restricted funds Total 2023 Total 2022 Bank interest receivable 4,614 4,614 665 6 Other income Unrestricted funds Restricted funds Total 2023 Total 2022 Fees and supplies 611 611 9,627 7 Expenditure on ¢haritsble activitles Unr¢strlcted funds De5ignatod General Total 2023 Total 2022 Note Staff costs Screening, assessment & tuition Governance costs 262,831 262,831 250,891 4,714 174,790 3,120 179,504 3.120 177,743 2,910 4.714 440,741 445,455 431,544 Page 20
The Dyslexia Asso¢iation Notes to the Financial Statements for the Year Ended 31 December 2023 8 Other expenditure Unrestricted Fund5 Total 2023 Totsl 2022 Other financial c0515 4,299 4,299 4,299 4,299 3,845 3,845 9 Analysis of governance and support ¢o$t$ Govèrnanco costs Unrestricted funds Total 2023 Total 2022 Independent examiner fees 3.120 3,120 3.120 2,910 2,910 3,120 10 Trustees remuneratlon and expenses During Ihe year the charity made the following transactions with Iruslees.. D Caunt D Caunl received remuneration of £2,18812022.. £Nill during the year. For services provided lo the chafity. No Iruslees have received any reimbursed expenses or any other benefits from the charity during the year. Page 21
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 11 Staff costs The aggregate payroll costs were as follows.. 2023 2022 Staff costs during the year were: Wages and salaries Social security costs Pension costs 241,913 15,200 5,718 231,644 14,792 4,455 262,831 250.891 The monthly average number of persons {includin9 senior management I leadership team) employed by the charity during the year wa5 as follows.. 2023 2022 No General 15 10 No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the charity were £47,253 12022 £47,545>. 12 Independent examlner's remuneration 2023 2022 Examination of the financial slalemenls 3.120 2,910 13 Taxation The charity is a registered charity and is therefore exempl from taxation. Page 22
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 14 Intangible fixed assets Development costs Total Cost Al 1 January 2023 Disposals 11,142 11,142 11.142 11,142 Al 31 December 2023 Amortisation Al 1 January 2023 Eliminated on disposals 10,230 10.2301 10,230 10,230 Al 31 December 2023 Net book value At 31 December 2023 Al 31 December 2022 912 912 Page 23
The Dyslexia Association Notes to the Financial Ststements for the Year Ended 310ecember 2023 15 Tanglble flxed a$$el$ Other tangibl• assot Office equipment Fixtures and fittings Totsl Cost Al 1 January 2023 Addrtions Disposals 18,038 734 18,772 4,739 11,9851 4,739 1,8621 123 Al 31 December 2023 16,176 611 4,739 21,526 Depreclatlon At 1 January 2023 Charge for the year Eliminated on disposals 14,377 1,837 1,862 734 15,111 2,100 1,985 263 123 Al 31 December 2023 14.352 611 263 15,226 Net book value Al 31 December 2023 1,824 4,476 6,300 Al 31 December 2022 3,661 3,661 16 Debtors 2023 2022 Trade debtors Other debtors 26,996 192 20,925 192 27,188 21,117 17 Cash and cash equivalents 2023 2022 Cash al bank 304,639 255,348 Page 24
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 18 Creditors: amounts falllng due within ong year 2023 2022 Trade creditors Other taxation and social security Other creditors A¢cruals 4,513 3,909 3,603 20,777 2,315 4.873 1,810 5,372 32,802 14.370 Al the balance sheet dale, deferred income amounted lo £20,777 12022 - £5,372) with £5,372 released lo income from charitable activities 12022 £14,165). Deferred income relates to lessons paid for in advance or lor a period Ihal spanned the period end. 19 Operating lease commitments As al 31 December 2023 the charity had total commitments under non-can¢ellable operating leases as follows.. Within 1 yeaf". Land and building - £6,35012022 - £6,350) Olher-£1,411 12022 £1,411) Within 2 and 5 years". Land and building £Nil12022 £Nill Other- £4,11612022 - £5,527) 20 Pension and other schemes Defined contribution pen$ion scheme The charity operates a defined ¢ont¥ibution pension scheme. The pension cost charge for the year represents conlribulion5 payable by the charity lo the scheme and amounted lo £5,718 12022 £4,455). Contributions lolalling £2,23412022 - £1,584) We payable to the scheme al the end of the yeaf and are included in eredilors. Page 25
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 21 Fund$ Balance at 31 Balance at 1 January 2023 Incoming rèsources Rgsour¢•s expended December 2023 Transfets Unrestricted funds General General funds 216,405 483,176 {445,2561 {6,7011 247,624 Designated Dis501ulion fund Bursary fund 40,243 10.020 6.701 46,944 10,757 57,701 5,451 4.714 50,263 5,451 4,714 6,701 Total funds 266,668 488,627 449.9701 305,325 Balance at 31 Decembgr 2022 Balance at 1 January 2022 Incoming resources Resource$ expended Transfers Unrestricted funds General General funds 206,464 423,647 1432,964} 19,258 216,405 Designated Dissolution fund Rulland support group Bursary fund 59,501 2,167 9,648 71,316 119,2581 12, 167} 3,013 18.412 40,243 2,641 12,6411 10.020 50.263 Total unrestricted funds 277,780 423,647 1435,6051 266,668 Restricted Bursary fund Total funds 278.626 423,647 435,605 266,668 Page 26
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 The specific purposes for which the funds are to be applied are as follows.. Designated funds.. Dissolution Fund - This fund represents the expected cost, should the charity cease to be a going concem. of satisfying all ils leg81 obligations enabling proper notice lo be given lo the staff and beneficiaries and for all due payments lo be made lo staff and other organisalions. Bursary Fund This fund is designated by the Trustees lo award bursaries for dyslexia assessment, luilion and 5ki115 development lo those people who are assessed as being in need but low of income. 100/0 ol any surplus for each financial quarter is transferred from general reserves lo the Bursary fund. 22 Analysi$ of net assets between funds Total funds at31 De¢ember 2023 Unrestricted funds Tangible fixed assets Current assets Current liabilities 6,300 331,827 32,802 6,300 331,827 32.802 Total net assets 305,325 305.325 Total funds at31 December 2022 Unrestricted funds Intangible fixed assets Tangible fixed assets Current assets Current liabilities 912 3,661 276.465 14,370 912 3,661 276,465 14,370 Total nel assets 266.668 266,668 Page 27
The Dyslexia Association Notes to the Financial Statements for the Year Ended 31 December 2023 23 Analysis of net funds At31 December 2023 At 1 January 2023 Financing cash flows Cash al bank and in hand 255,348 49,291 304,639 Nel debt 255,348 49,291 304.639 At31 December 2022 At 1 January 2022 Financing cash flows Cash at bank and in hand 291,584 136,2361 36,2381 255,348 Nel debt 291,584 255,348 Page 28