THE ACE CENTRE-NORTH
la compgny limited by guarantee
and not navln9 a share capital)
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Company number: 4268143
R8gist8red Charity Number: 1089313
BK Plus Audit Limiled
Chartered Certbfied Accountants
Sterling House
501 Middleton Road
Chadderton
Oldham
OL9 9LY

THE ACE CENTRE-NORTH
CONTENTS
eNo.
Report of the Trustees l Directors
Report of the ALKlitors
10-12
Statement of Financial Activities
13
Balance Shèet
14
statement of Cash Fbws
15
Notes to the Financial Statements
16-29

THE ACE CENTRE410RTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
The Irusteesldirectors of The A￿ Centre-North present their annual ￿port together with the financlal
statements for the year ended 31 March 2024. Th8 provisions of Ihe Statement of Récomm8nded Practice
"Accounting and Reporting by Charities. (SORP IFRS 102)) have been adopted in preparing the annLFal
report and financial sta18ff￿n1S of the chality. The directors or membgrs of the board of the charitable
company (the chadtyl are Its Irusloés for the purpose of charity law. Throughout this report they are
collectively relerred to as the'trust88S'.
Reference and Pglministrative Inforniation
ari
number..
1089313
Com
number..
4268143
Chairman-
P J Woola5
R B1￿hall
Co
an
Secreta
A C Sever
Princi
al offic8'.
Hollinwood Businass Cerrtre
bert Str90t
Oldham
OL8 3QL
Auditors:
BK Plus Audit Limited
Steriiro House
501 Middleton Road
Ctodderton
Oldham
OL9 9LY
Bankers".
Royal Bank ol Scouand
Drummond House
1 Redheughs Av8nua
Edinburgh
£H12 gJN
Solicitors:
Workne5t knrrmted
Woodhouse
Aldf￿d
Chester
CH3 fklD
Invèstment mana
rs:
Ratht()ne Brothers PIC
8 Finsbury Circus
London
EC2M 7AZ
Trustees al date of this re
P J Woolas {Chairrnan}
T Hewson (appointed 16.02241
J Jones
R Oldham
J D8vlin
T Wekh lapp)inted 11.12.24)
Other trustees who served durin
Ihe
ar=
D Reay (resigned 12.12.23)
L G Coop (resigned 12.12.23)
C B811 (resign￿1 13.06.23}
A R Walker {resign8d 13.07.23)
M Littler Iresigned 13.07.23
R W Gregory {resign8d 03.OB.231
S Meredilh (resigned 24.09.24)

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 ¢ontinued...
Structure Governance and Mana
ement
Gavernin
Document
The Ace Centre-North (working name Th8 Ace Cenlre) is a company limited by guarantee governed by its
Mernorandum and Articles of Association. It is regislered as a charity with the Charity Commission.
Membership of the company at 31 March 2024 stood at seven members comprising Oldharn Metropolitan
Borough Council and six trustees as individual members.
olntment of trustees
Members of the Board of TTUStees are drawn from representatives of Ihe local authority and individual
representatives reflecting the skills, experience and expertise required to support the work of The Ace
Centre.
Trustees, induction and trainin
Recent recruits lo The Ace Centre have been offered a dals formal induction in addilion to personalised
induction, based on the needs and interests of individual trustees.
anisation
Th8 board of trustees normally meet lour times each year and the annual general meeting is lo be held
immediately prior to the December meeting. Issues arising belween meeting5 that require the consideration
of all trustees are dealt with by correspondence.
The day to day activities of the centre are carried out by the Ace Centre CEO and staff, with the CEO
reporting back to the trustees at each board meeting.
Tha arrangemants for setting the pay of key management personnel are revtewed annually by the board of
trustees. At present levels of pay are aligned with NJC Pay scales and any changes are benchmarked wilh
local government practice.
The centre is not dependent upon the services of unpaid volunteers. donalion5 or other intangible
income, although it is keen lo encourage volunteer involvement should it be offered.
Related arties
Members of the charity and it5 Board of Trustees are drawn from local business. education and training. and
voluntary sector communities.
Close working relationships exist between the Charity and these representatives, which have prov8d
invaluable to the charity in establishing improved links within the community and id8ntifying relevant policy
develupmenis and prospective funding.

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 continLted...
Ob'ectlY•s and aclvltlès
The A￿ Cenlre's charitable objects are:
al To advan￿. promote and encou￿ education and learning opportunitie5 lor people of all ages whose physi¢al and
ommunicalion d￿lCUltieS are the primary cause of their disabilities. in parti(yJlar but ￿￿thOut pTejUdi￿ to Ihe genBrality of
foregoing to provide a focu5 for thé use miGroeleGtronic5 alld other aids to communication.
b) To provide opportunities for such individual$ to irnprove their skills or abilities.
cl To providg, admlnis18r and manage Assessmeni and Advice CeTrtre5 for such Individuals.
dl To provlde athi¢e. resources aTKI training facilities lo parents. teache￿. therapists aThJ medical staff and others involved
th physically disablÈd communication-impairod ppopl8.
To 8mploy skilled slaff, axparts. advisors. t8ach8rs. Ihgrapists. 8ducationalists and othws. èither In Training and
Assessment Centres or elsewhere.
To affange. Pfomote and organise courses. conf8rerThs. training sessions. vocatkinal arml n s8nfice training, seminars and
op8n days.
gl To develop softrmrelhardwara and leaming lechniqu8S, to collaborate wlth any cotr4)anies, Indivlduals, partnership5.
buslnesses. Ofganisations, bodies and persons for thè furlherance of the companls Dbjectivps and to develop access
devices. strategies and alds for communication for p￿pIe physical and communication diffKxlttes.
h) To survey and evaluale softhre and prod￿lS lo gather. publh8h and disseminate infomiation.
To establish, maintain and develop libraries. ￿s0￿￿ ￿nt￿. databanks, assessment facilities and equiprnent. and to
ake ény of the satne available for use by way of loan. to com￿￿niCatiOn-1mpaI[ed peDple. parents, children, professional
a(1vi50￿. medical Staff. local authoril.es and other5.
Thi5 year the Ace Cenlre's main activrties have been to deliver asSeSs￿nt training rformalion Services to fijlfil Qui
obligations under the NHS England (NHSEI Specialised Health Commisioning contract which ha5 been awarded lo A￿ Centre
to provide specialised augementauve and allemative communKation IAAC) services for ellgible chitflren and adu115 in the North
West and Tharne5 Valley & Wessex regions of England. The contr&1 orÉginally ran frorn 9th December 2014 to 31st March 2018.
but was subsequendy extended, wth the current contract running tD 31 March 2025. In addition. A￿ Centre is in the process of
identifying potential opportunities for allemafive income generatb)n strparns.
The Trustees are rnindful of the Charity c0￿mISsion guidance on publiG benefrt and believe that the detai15 set out above and in
their reporl generally. cleady idenlrfy the intended beneficiarie5 of the charitys acb"viiies and demonstrate that they are for
the public benefit.

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENOED 31 MARCH 2024 conlinuod...
Risk mana
gment
The trustees are mindful of the risk5 both intemal and exlernal that the charty faces and. where appropriale, systems and
procedures have been established to mitigaie those risks. Intemal control risks have been minimised by having procedures
for the authorisation of all financial transactions. HR advi￿ is taken regarding ernploymenl issues and all posts within the
organisalion ar8 subject to enhanced D8S checks. as the charity deals wilh vulnerable beneficiaries on a daily basis. There
are health and safety procedures and insurance cover In retation lo public and employer liability.
The Centre has fidelity guarantee insurance to protect Centre staff and Trustees against financtal impropriety. For this
protection to be availablB a strict sèl of financial standards has to be in Flace and adhered to. In addition, in order to
minimise the impacl of k)sing Ace Centre'5 primary source of income in the future if this were to occur, the Trustees have
agreed the r85ervgs policy shown b8bw.
Financial risk relating to fixed asset investments is dealt wilh in note 13 to the accounts.
Reserves Pollc
Thè r8stnres policy is to maintain sufficient unrestricted reserves lo enable Ace Centre to continue delivering tts cor8
services for a rninimum of twefve rnonths. at its cu¥rerbt capacity, in the event of it10sing its primary source of income.
Ace Centre running costs are increasing as our NHS activities continue lo pxpand. Consequently. the minimum level of
reserv8s required to maintain twelve rnonths. running costs. including redundancy paymenls, is increasing as our staff
teams and activities expand across both offices. This has resutted in a continual incrBas8 in th8 number of active clients
within our client management system. an increase in the volume of equipment to be maintained and expansion in the
technical services required to support this equipment across both regions.
At 31st March 2024, the Centre had unrestricted reserves of £4.063.004 which is fe￿ lo be an acceptable level and this will
be fomally revlewed on an annual b￿s. In agreeing this level of reservgs. truste8s hav8 laker) into conslderallon
addilignal Gosts that could be incurred in the event of no aitemative fundin9 being idenlif*d, including redundancy and
leasing commitnient5. They have also tsken into consKleralion that Ihe level of reserves would cover all core operating
costs exduding providing NHS dienl equipmant.
hievements and erfomiance
During the year 2023124 long-standing Ace Centre Chiel Executive, Anna Reeve5, informed the Tnjstees of her intention to
retire within this reporting period.The Tnjstees would like to put on record their thanks to Anna for her many years of
service, and far the signilicanl growth of Ace Centre and the diffe￿Ce we have been able to make under her leadershlp.
The Trustees insligaled a recruitment programme and appointed a new Chief Executive. Bob Birchall. who commenced
working for Ace Centre in January 2024.
The management of the centre have agreed the folh)wing long term slralegic ot¥8Ctive5 for Ace Centre along with a
summary of achievernenls for 202312024..
Strategic ObjgctiV8 1: To provide quallty serrfl¢es to meet the needs of individual$ who require ATIAAC and
peoplo who support them. Ace Centre has continued to provide its core seNices. including those commissioned by
NHSE. In addition. Ace C8nlre has continued to invest in Ihe deveh)pment and delivery of key strategic 3reas, including
Re5earGh and Innovation. Training and Learning. Partnerships and Con5ullancy, Engineering, Information and Resources.
and local AAC and AT service develDprnent. This has induded investment in an improved booking and management
system for Training (Ado), and involvement with a number of co-production opportunities to ensure tha development of
person-centred seTvI￿S that put the needs of people at the heart ot all decision making.
Strateglc Objective 2:_ Raise awareness of thè c•ntrè through markètlng and publlclty materlals. Ace Centre h28
ontinued to invest in the ernploymenl and development of dedicated staff to 5UPPOrt the marketing athty- Ace Centre ha5
attend&d awareness raising events and nelworks on a local, regional. national and international level to lurther develop
partnerships and services to ensure all acbvities continue to be thiven by evotving needs of tho p8ople and communities we
serve.

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 Gontinued...
Achievements and erformance (contl
Strategic Objectiv8 3: Stratègically influence opportunltles for future AACIAT provision at a regional and
national level., A￿ Centre has continued to engage with and invest in the A]1 Party Parliamentary Group for As51slive
Technology. and collaborate with the AT8ch Policy Lab, in partnership ivith Policy Connoct and Bournmoulh University.
Ace Centre conlinues lo be represented on the MC Advisory Group, whiGh oversees Ihe development of NHSE
Specialised MC SeNces. and contributes to a wide spectrum ot national NHSE working parties.
Strategle Objectlve 4: Develop business systems to control. Monitor and develop the organlsation. Ace Cenlre
CDnlinues lo invest in and devglop its Shared se￿ices difectorate. viewing these services (Finance, HR. IT.
Administration) not as business support functions. but as business CTitical functions. The ￿ntre achieved Cyber
Essentials Plus accreditation and has investéd in IT infraslructure to support enhanced afficiency, gov6rnancÉ and
èffectiv6n6ss of our service5.
Stratggic ObjeGtive 5.. Optimise revenues from the provision of setvlces and the dellvery of projects both from
reslricted and unrestrlcled sources. Ace Centre continues to support the work of a dedicated Managem8nl Group to
co-ordinate and develop services outside of our NHS conlrnct. This inC￿deS Training and Learning, Partnerships arkd
Consultancy, Research and Innovation. Information and Resources and local AAC and AT selvice ¢Jevelopmenl.
Financlal Revlew and future devèlo
ments
The result for the year has been a surplus of £152.974 which fX)mpare5 to a deficit last year of £186.799. In December
2014 the Centre was awarded a substsnlial contracl by NHSE lo delFver its services in the North West and Thames
Valloy & Wessex regions.Th8 current contract has been extended to March 2025 and our airn is trj become the
recognised provider beyond that date. The NHS contract is th8 charitys principal source of funding and generated
incomè amounting to a total 01 £4.060.919 during the year (2023- £4,132.4321- The investments with Fiathbone's
genergted investment income of £104.518, compared with £94.348 last year. and an unrealised surplus of £235,832
(2023,. deficit of £272.371) on the revalualvjn of those investments to market value at the year end. The balan￿ Sheet
shows the chariV5 net assets to have increased from £3.910,030 at 31 March 2023 10 £4,063.004 at 31 March 2024.
which remains a strong posilion and the trustees are oplimistic that the charity can continue to meet its objectives. A
Careful review of likely future incomè and oxpendilure has been implemented and we are sats"sfied thal the Centre can
continue to operate effectively for the for5eeable future.
Invostment
owers and olic
DeGisions about investments ar8 made by the trustees after taking appropriate professional advice where nec8ssary
and inveslm8nl perfoTman¢e is regulady reviewed. The charity currently has approxirnately £3.6m invested wilh
Rathbone Investment Management, with the objective of lrying to achiève a higher rale of return on those lunds
compared with leaving them on bank deposit, whilst still being able lo access them if required. Further detai15 of
those investments are shown in note 13 to the accounts.

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 ¢onllnued...
Plans for future
eriods
Thé following operalional objectives have been agreed for the perii)J 2024-2025..
To review and refresh the Vision. Valuos and strateg￿ Objectives of Ac8 Cenlre.
To continue to develop a profitable Ace Centre training servi￿. develop a broad portfolio of learnlng opportunities to
meet the needs of our slakeholders. and gro¥v Ace Centre Learning as a brand.
To further grow our reputation as a preferred lead or partnor for ATIAAC researth wilhin the R&D commLJnity.
To attract new Trustees to Ace Centre to reflect the needs of an indu5ive. oulward facing charity and thé
communilie5 we serve.
To continue to improve performance on the delivery of sp8cialise(l AAC services in the North Wesl England and
Wessex & Thames Valley regions to ensure we continue lo be the preferred providers wilhin those areas.
To develop a robust system to monitor effa¢tivones8 of indiV￿JUal projects and products.
To colllribute to develop a strong and 5UStainable income stream from current and future projects and products.
To ensure all Ace Centr8 services. projects and products are as accessibl8 as possible to meet the neads of our
communrtie5 and stakeholders.

THE ACE CENTRE-NORTH
REPORT OF THE TRUSTEESIDIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 continued...
Trusteg5' ro5
onsibilities ir] relation to the financial statements
The charity's Itustees are r8sponsible for preparing the annual report and financial statoff*nts in accordan
with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the tnjstees to prepare financial statements tor each financial year that give a true and
faiF view of the charity's incoming recource5 and applicalions of reSoUr￿S during Ihe year and of its state of
affairs at the end of the year. In prepaing these financlal statements the Trus*ee5 ar8 required to-
Select suitable acGounling policies and apply Ihem consistendy.,
Observe th8 methods and principles in the Charitie5 SORP..
Make judgernenls and e51imales thal are reasonable and prudent-
Slate whelher applicable accounting slandard5 arbd statemen15 of recommended practice have been
followed, subject to any departures disclosed and explained in the financial s12tements, and.,
p￿pare the fitbancial slalemenls on the going concem basis unles5 rt is inappropriate to presume that the
charity wll continue in business.
The Iwstees are resonsible for keepiry proper accounting records that disclose with reasonable accuracy at
any time the financial position of the tharilable company and enables them to ensure that the financial
statements comply wth the Companie5 Act 2006. The trustees are also responsible for safeyuarding the
assets of the charity and hence for takn'ng reasonable steps for the prevention and deleclion of fraud and-
other irregularities.
Statement a5 to dlsclosure to our auditors
In so far as the Trustees are aW￿e at the time of approving Ihis rEpM)rL
There is no relevant audit infom8tton, being irrfomatM)n needed by the auditor in connection ￿th
preparing their report. of which the audttor is unaware. and
The trustees, having made enquiries of fellow directors and the auditor that they ought lo have
individu811y taken. have Èach taken all steps that helshe is obliged to take as a director in order lo make
them5elve5 aware of any relevant audrt information and to establish that the charity's auditor is aware of
that information.
Com
liance with accountin
Standards
The tnI51ees confirm that the financial statement5 ￿mplY wth ￿rrent slatulory requirements, the
requiraments of the companVs rnemorandum and articles of a550ciation and the requirements of Ihe
Charities SORP (FRS 1021.
This report ha5 been prepared in accordan￿ ￿th the Statement of Recommended Practice Accounllng
and Reporting by Chariknes and in accordance with the special provisions of Part Vll of the Companies Act
2006 relating lo small corrpanies.
This report was approved by the board of directors on 11th December 2024 and signèd on ils bghalf by..
Anthon
Com
an
Sever
Secreta

THE ACE CENTRE-NORTH
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ACE CENTRE-NORTH
inion
We have audited tho financial slatemenls of The Ace Centre-North for the year ended 31 March 2024 which
compnse the Statement of Financial Activities. Ihe Balance Sheet. the Statement of Cash Flows and notes to the
financial statements, including a summary of significant aco)unting policies. The financial reporting framework that
has been applied in their oreparation 15 applicable law and United Kingdom Accounting Standards, including FRS
102 'The Financial Reporting Standard applicable in the UK and Reput4ic of Ireland. (United Kingdom Generally
Accepled Acwunling Practi￿1.
In our opinion th8 financial statefflents-
give a twe and fair view ot the state of the charitable comparfs affalrs as at 31 March 2024 and of its incoming
resources and application of resources for the year then ended",
have been properly prepared in accordance with Urited Kirudom Generally Accepied Accounting Practice: and
have been proPa￿d in accordance with the requirements of the Companies Act 2006.
Basls for o
inion
We conducted our audtt in accordarw wtth Inlernational Standards on Auditing (UK} (ISAS {UK)) and applicable
law. aur responsibilit18s under those standards are further desctibed in the Auditorfs re3ponsibililies for the audit of
the financial statements section of Dur report. We are independent ot the charitable company in accordance with the
alhical requirements that are relevant to our audit of Ihe financial slalements in the UK, including Ihe FRC'5 Elhical
Standard, and we have fU￿illed our other elhical responsibilities in accordance with these requirements. We believe
Ihal the audit evidencÉ we have obtained is sufficient and appropriate lo provDJ8 a bas￿ for our opinion.
Cortcluslons rElatln
to
oin
concern
In auditing the financial statements. we have concluded that the tntstee's usa of the going concern basis of
accounting in thè preparation of the financial sLqtements is appropriale.
Based on the work we have performed, we have rnt identilied any material uncertahities relating to events or
conditions that. individually or collectively. may cast significant doubl on the charitsble compar)Vs ability to continue
as a going concem for a period of at least Iwelve mcfflths from when the financial ststements are 3ulhorised for
issue.
Our responsibilities and the responsibilities of Ihe directors ￿th respecl to goirig concern are described in the
relevant secltons of this report.
Other information
The other information comprises the infomiation in the annual rekwjrt. other than Ihe financial stalements and our
auditorfs report thereon. The trustees are responsible for the other information. Our opinlon on the financlal
stalernents does not cov6r thè other information and, ex￿Pt lo the exkent olhewse explicitly slated in our report,
we do not @xpress any form of a55urance conclusion Ihereon. In connection ￿th our audit of the financial
slalement5, our ￿SpOnsIbl11ty is to read the other infomialion and. in doing so, consider whelher the other
infomialion is materially inconsistent wlh the financial statements or our knowledge obtained in the audit or
otherwse appears lo bo materially misstated. If we identify such material inconsistencies or appar8nl
misstatements, we are required to delemiine whelher fhere 15 a material mtsstalement in the financial ststements or
a material misslalam¢nt of the other infomiation. If. based on th8 work we have performed. we conclude that there
is a material fflisstatement of this other information, we are required lo report that fact.
We have nothing to report in this regar(l.
O Inlons on other matler
r8scribed b the Com
nie5 Act 2006.
In our opinion, based on the work undertaken in the course of the audit:
th8 information given in Ihe trustees, report. Mthich include5 the directors, report prepared for the purposes of
company law, for the financial year for which th8 financial slatemenls are prepared is consistent with the
financi81 statements.. and
the director5, report included wthin the trustees, report has been prepared in accordance with applicable legal
requirements.
10

THE ACE CENTRE-NORTH
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ACE CENTRE-NORTH {continued}
Matters on whlch we are re
uired to re
ortb
exce
tion
In the light of the knowledge and understanding of the charitable company and it5 environment oblained
in the course of the audit, we have not identrfied material misstatements in Ihe directors, report included
within the InJstees' report.
We have nolhing lo report in respect of the following matters in relation to which the Companie5 Act
2006 requires us to report to you if. in our opinion:
adequale accounling records have not been kept, or reiums adequate for our audit have not been re￿iVed
frorn branche5 not visited by us; or
the finanual slalemonts are not in agreement with the accounting records and r8tums; or
certain disclosur8s of Irustees. remuneralion speCif￿d by law are not mado,. or
we have nol received all the infomiation and explanations we require for our audit., or
the trustees were not entitled to prepare the financial slatements in a￿OrdanCe with the small compani&s
regime and lake advantage of the small companies exemption in preparing the trustees. report and take
advantage of the small companies exemption from the requirernent to prepare a strategic report.
Res
onslbllitles of tru tees
As explained more fully in the Trustees, Responsibllities Statement Set out on page g, the trustees (who are also the
diractors of the charitable company for the purposes of company law) are ￿spOnsIble for tha preparation of Ihe
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 stalements thal are free frotn maleiial
misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable compan￿¥ ability lo
continue as a going concern, disclosiry. as applicable, rnatters relating lo going concem and using the going
concern basis of accounting unless the trustees either intend lo liquidate the charitsble Company or to cease
operations. or have no realistic altarnative but to (kn so.
Auditor's res
onsibilities for the audit of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statemènts as a wholè are free from
material misstatament. whother due to fraud or error, and io issue an auditorf5 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 mi5slatsmenl when il exists. Mi55tatements can arise from fraud or
error and are considered rnaterial rf. individually or in the aggiegate, they could reasonably be expected to influence
the economic decisions of useis tsken on the basis of these financral statements.
Irregularities, including Iraud, are instances of non-compliance with laws and regulations. We design proGedures in
line with our responsibilities. outlined above, to detecl material misstalements in respect of irregularities, including
fraud. The extent to which our procedu￿5 are capable of detecting i￿egularl1[es. including fraud is detailed below:
11

THE ACE CENTRE.NORTH
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ACE CENTRE-NORTH (continu&d)
Based on our understanding of the charitable company, we identtfied thal the principal risks of non-compliance
related to those laws and regulations that have a direct imp* on the financial s12tements such as the Companies
Act 2006 and the Charities SORP IFRS 102). We evaluated Tnanagemenl's incentives and opportunities for
fraudulent fflanipulalion of the financial slalemenls (including the risk of override of controls), and determined thal
the principal risks were related to posting inappropriate journal entrie5 to manipulate financial results and
managernent bias in accounling estimates. Appropriate audit procedures were performed to address those risks
Including testing joumal entries and challenging assumptions and judgements made by management in their
significant accounting estimales. There are inherent limitations in Ihe audit procedures described above and the
furthor removed non-cnmpliance with laws and regulations is from tho events and transactions reflected in the
financial statements. the less likely we would become awa￿ of it. Also, the risk of not detecting a malerial
misstatement due to fraud is higher than the risk of rM)t detecting one resulting from error, as fraud may involve
deliberate concealment by.. for example. forgery or intenttonal rnisrepresentstions. or through collusion.
A further dascription of our responsibilities for the audit of the financial stslements is located on the Winancial
R8POrting Council'5 website at www.frc.org.uklaudilorsres￿n51b1lItie5. This description form5 part of oui auditor'5
report.
Use of our re
This report is made solely to the charitable companls members. as a body. in accordance with Chapter 3 of Part 16
of the Compani6s Act 2006. Our audit work has been undertaken so Ihat we might state to the charitab18 company's
members those matters we are required to state lo them in an audiiot5' report and for no other purpose. To the
fullest 8Xtent permitted by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company's member5 as a body, for our audit work, thls report, or for the opinions we
ave fomied.
Dominic Huxley Isenlor statutory auditor}
For and on behalf of
BK Plu5 Audit Limited
Chartered Certified Accounlants and
Statutory Auditor
Slerling House
501 Middleton Road
Chadderton
Oldham
OL9 gLY
Date '.
11 JJiy
12

THE ACE CENTRE-NORTH
STATEMENT OF FINANCIAL ACTivrriES
includin
tncome and expenditure account) . YEAR ENDED 31 MARCH 2024
2024
Unrestricted Restricted
Funds
Funds
2023
Unrestricled RestTiCted
Funds
Funds
Totsl
Funds
Total
Fund$
INCOME
Donations and legacies
4.041
4.959
9.000
4,086
Charitable actsyrfles..
Service delivery
4,237.69B
4,237,698
4.274.338
4.274.338
Other trading adivttte5:
Fundraising gv6r
Investment Inclxne
104.518
104.518
94,34B
Other
5.370
5.370
5.041
5,041
Total Incomlng resources
4.351.627
4959
4,356.586
4.377,813
4,3ri,813
EXPENDITURE
R8lsing fund8
3.487
3.487
2.454
2,454
Charitable activib"es.'
ServicE delivBry
Goveman
4.388.334
42.664
4,959
4.3￿.293
42.664
4.242,458
47,329
4,242,458
47,329
Total expenditure
4.434.485
4.959
4,439,444
4291241
4,292,241
Met incoming resources beftjre
invesknenl galnsl(lossesl
182.658)
1818581
85￿72
85,572
Net gairb51110559$) on Invostments
13
235,832
235.832
1272.371)
1272.3711
Net Incornel{exp8ndituro1
152,974
152.974
1186.799}
1186.799)
Transfers betwean funds
22
Nel moverngnt in funds
152.974
152.974
186.7991
{1B6.799)
Reconciliation of tund5
rolal funds brought forward
3.910.030
3,910.030
4,096.829
4.096,829
Total funds carrlèd forward
22
4.063,OIM
4.063.004
3,910.D30
3310,030
I knEomirg r2soLr¢es a[￿ IP￿￿￿e5 are (leTl¥ed from
Thg w$ pn integral pHd ot IhE *alemBnioffinanaal
13

THE ACE CENTRE-NORTH
BALANCE SHEET
AS AT 31 MARCH 2024
Note
2024
2023
FIXED ASSETS
Tangible assets
Investments
12
13
146,378
126,168
3,599,107 3,342,167
Totsl fixed assets
3,745,485 3,468,335
CURRENT ASSETS
Debtors
14
171,263
544,049
Cash at bank and in hand
15
540,913
266,864
Total current assets
712,176
810,913
LIABIL￿lES.
Credrtors falling due within one year
16
394,657
369.218
Net current assets
317,519
441.695
Net assets
23
4.063,004 3,91Q,030
THE FUNDS OF THE CHARITY
Rastricted incom8 funds
22
Unrestricted funds."
22
4,063,004 3,910,030
Total charity funds
22
4.063,004 3,910,030
These accounts have been pr8pared in accO[dan￿ wtth the special provisions of Part 15 of the
Companies Act 2006 relating to small companies and constitule the annual accounts required
by the Companies Act 2006 and are for circulatton to members of the ccKnpany.
The
an
ra approved by the Board on 11th December 2024
behaff by:
Tntst8elDireclor
Registration number 4268143
The accompanwng nolas arè an int8gral part of thls balaE￿ sh88t
14

THE ACE CENTRE-NORTH
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
Note
2024
2023
Cash used in operating activities
24
310.262
402,946
Cash flows from investing activilies
Interest income
39
Dividend income
104,518
94,309
Purchase of tangible fixed assets
12
(119,6231 (64,817)
Purchase of fixad asset investmants
13
{21,1081 (87,659)
Procoeds from fixed asset disposals
Cash provlded by (used In) Investlng actlvltles
36,213
58,128
Increasel(decrease) in cash and cash equivalents
in the year
274,049 (461,074)
Cash and cash equivalents at the beginning of the year
266,864
727,938
Total cash and cash oquivalents at the end of the year
15
540.913
266.864
15

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accountln
ollclos
Th8 principal accounting polibies adopted. judgements and key 50urce5 of estimation uncprtainty in the pr8paralion
of the financial statements are as follow5-
al Basis of preparation
The financial statements have been prepared in accordance with Accountiru and Reporting by charities..
Statement of Recommended Practice applicable lo charities preparing Iheir accounls in ac(x)rdance with th8
Financial Reporting Slandard applicabl8 in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20151
(Charities SORP (FRS 102)). the Financial Reporting Standard appli¢able in the UK and Republic of Ireland
{FRS 102) and the Companies Act 2006.
The Ace Centre-North meets the dofinition of a public benefit entity under FRS 102. Assets and liabililiBs are
initialty ￿cognised at historic cost or transaction value unless othenvise stat8d in the relevant accounting policy
notels).
b) Company status
The charity is a company limited by guarantee. The members of the company a￿ drawn from Oldham's civic
communty and from business, education and training, and voluntary sector corn￿U￿111e5 elsewhere. In the event
of the charity being wourFd up. the liability in respect of the guarantee is limited to £10 per member of the charity.
The charity was incorporated in England and the addres5 of its registered office is Hollinwood Busine55 Centre,
Albert Street, Oldham. OL8 3QL.
c) Income recognition policies
Items of income afe recognised and included in the accounts when the charity is legally ent￿ed to the inoome,
any performance conditions attache(I to the itemls) of income have been met or are fully within the control of the
charity, there is sufficient Certainty that T￿lpt of the income is considered probabl8 and the amount can be
measured reliably. The follo￿￿ng specific policies apply to categori8s of incom8=
Legacies: enliltement is Ihe earlier of estata account being finalised and cash received.
Grants and contract income, wh&Te related to perfomiance and Specific deliverables, are accounted for as the
charity eams the right to consideration by its perfomiance. Where income is teceived in advance of performance
its recognition is deferred and induded in creditors. Where entidement occurs before income is received the
income is accrugd.
Donated assets are c8Pitalrsed at a value equivalent lo market vaue at the date of donation.
Investment incorne is recognised on a receivable basis.
Income is includ8d in the SOFA net of Value Added Tax where applicable.
d) Resources expendéd
Expenditure is recognised once thera is a legal or constructive obligation lo make a payment lo a third party, il is
probable that settlement wrll be required and the amount of the obligalion can be measured reliably. Expenditure
is ¢lassJfied under headings that aggregate all costs related to the category. Where costs cannot be directly
attributed to particular headings they have been allo(2ted to activitks on a basi5 con5islent wth use of the
resources. Costs relating to a particular activity are allocated directty, others are apportioned on an appropriate
basis (eg. number of employees or estimated useaJe)- Expenditure is classified under the followng activity
headings:
Costs of raising funds are those costs incurfed in It￿1r￿j actiwties thal rar68 funds.
Charitable expenditur8 coryrises those costs incurred by the charity in the delivery of its activilies and
servI￿s, and indude both the direct costs awKI support costs relating lo those ￿1VitieS.
Govemance costs. which are included wthin charitable activities, are those costs associated with
meeling Ihe constitutional and statutory requirements of the charity and include the audit lees aThJ
costs linked to the strategic management of the ctharity.
16

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
a} Donated servlces and facllltles
Donated services or faulilies are recogni5ed when the charity has control over the item, any
conditions associated wifh the donated item have been rnet, Ihe reC￿p1 of 1he economic benefit from
the use by the charity of the item is probable and Ihat economic benefrt (xn be measured reliabty- On
receipt. donated seryices and faciltlies are recognised on the basis of the value of the gift to the
charity which is the amount the charity would have been willing to pay lo obtain services or facilitie5 of
equivalent economic benefit on the open market- a corresponrfing amount is Ihen recognised in
expendsture in the period of reoipt.
Irrecoverable VAT
All resources expellded are classified under activity headings that aggregate all costs related lo the
activity. I￿aCoVerable VAT is charged against Ihe category of resources expend8dlactiwty for which tt
was incurred.
gl Operatlng leases
Renta15 applicgble to operatitvJ lea5e5 are ¢harged to the SOFA over the pettod in which Ihe cost is
incurred.
h) Tangible flxed asset5 and depreciation
Indlvldual fixed assets costing £495 or more aro capitalised al cost. with the exception of loan
equipment puchas8d to piovide to clients on lifelime loans in accordance with the chariV5 0bJ8cts
nd the terms of the NHS agreement. which are charged to Ihe SOFA on acquisition.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost of
Bach asset over its expected usefvl lrfe a5 fDIIows .'
Leasehold alteraliorks-
Fixtures and fittings-
Comput9r aquipment-
Assessment equipment-
Motor vehicles-
20% Straighl line
25¥. Reducing balance
330A Straighl line
33% Straighl line
25% Reducing balan¢e
il Invgstments
Listed fixed asset investments are initialy rneasured at cost and subsequ8ntty at fair value Itheir market
value) at the reporting date. Changes in fair value are recogfiised in the statement of financial activities.
j) Fund a¢countlng
Vnrestrided fund5 comprise ac¢urwtulated 5urpluse5 and defKits on general funds that are available
for use at Ihe discretion of the Irusteesldireclorg in furtherance of tho general obi8ctives of thB Charity
and that have not been deslgnated for other purposes.
Restricted funds are funds Subject to restrictions imposed by the donor or by Iho specific terlns ol the
appeal under which the fund5 are raised.
Deslgnated funds comprise tsnrestricted funds that have been put aside at the dI￿retiOn of the
Iru5ke51direGlors for particular purposes.
kl Pension5
The cost ol providing benefits under defined benefit plafts is detemined separately for each plan
using the projected unil credit rnethod. and is based on actuarial advice.
The change in the nel defined benefft assevliability atising from employee seTvice during the year is
recognised as an employe8 cost. The cost of plan introductions, benefit changes. settlemenls and
curtailments iecognised as an expense in ffEasuring 5urplu5 or deficit in the pe￿d in which they
2rlse.
17

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accountln
olicies continued
k) Pensions (continuedl....
The n8t interesl element Is delettnined by multiplying ;he nel defined benefit liability by the
discount rate,taking into account any changes in the net defined benefit liabilty during the
period as a resutt of contribution and benefit payments. The net intefesl is récognised in
Surplus or daficit as finance revenue or cost.
Remeasur6m8nt changès comprise actuarial gains and losses, the effect of the asset
iling and the return on the net defined benefit liabilty exclUd￿g amounts included in net
interest. These are recognised immediately in other comprehensive income in the period in
which they 0￿ur and are not reclassified to surplus or def￿rt in subsequent periods.
The net defined benefit pension asset or liability in the balan￿ sheet comprises the total
for each plan of the presenl value of the defined bev.efit obligation (using a discount ral8
based on high qualty corporate bonds), less the fair value of plan assets out of which the
obligations are to be settled directly. Fair value is based on market price infotmation. and in
the cas8 of quoted securities is the published bid price. The value of a nel pension benefit
asset is limited lo the amourrt that may be recovered either through reduced contributions
or agreed refunds from the scheme.
l) Taxation
The company is a registeted charity and as such is entitled to the exemption from tax to the
extenl that Ihe income received fa115 Within seclion 505 ICTA 1988 and section 256 CGTA
1992 and is applied to charitabl8 purposas only_
m) Holiday pay
Provision is rn￿e in Ihe accounts for holidays accrued but not taken as al the end of the
financial year.
n) Debtors
Trad8 and other debtors are recognised at the settlement amount due after any discount
offered. Prepaym8nls are valued at the amount prepaid net of any discounts due.
o) Cash at bank and in hand
Cash at bank and in hand indudes cash and Short lerm highly Iiqutd investments with a
short malurity of three months or less from the date of acquisition or opening of the deposit
or similar account.
p) Creditors and provisions
Creditors and provi5i0n5 are recognised where the charity ha5 a pre5enl obllgalion
resu]ting from a past event that will probabiy result in the transfer of funds to a third party
and Ihe amount due to settle the obligation can measured or 8Stimated reliably.
Creditors and Provisions are Th)mi8lly recognised al their settlement amount after allowing
for any trade discounts due.
q) Assessmenl of going concern
The trustees consider thal Ihere are no malerial uncertainties about the Gharivs abilty to
continue as a going concern and the accounts have been drawn up on the going concern
basis which assumas that the charity will continue in operation for the forseeable future.
r) Financial inslrnments
Listed investments are ffleasu￿d at fair value with changes in fair value being recognised in
the statement of financial activities.
The charitys other financial asse15 and financial liabilities are of a kind Ihat qualtry a5 baslc
financial instruments. Basic finanaal instruments are initially recognised at transaction
value and subsequenty measured at their settlemént valu8 With the exceptK)n of bank
loans which are subsequenlly measured at amortised cost using the effective inlerest
method.
18

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
Total
2024
Total
2023
2024
2024
2 Income from donatlons and le
acles
Donations
Legacies
4,041
4,959
9.000
4,086
4,041
4,959
9,000
4,086
3 InGome from charitable activities
Service delivery:
Centre courses
Engineering services
Projects and research
Assessments
Consultancy and audÈt work
Publications
Products
Voiceitt App
NHS income
Partnerships (formerly Servi￿ level agreements)
62.649
1,067
7,573
28,150
5.067
4.271
3,435
62,649
1,067
7,573
28,150
5,067
4,271
3,435
31,214
1,000
3,805
20,020
3,846
5,548
11,092
4,060,919
64.567
4.237,698
4,060.919
64,567
4,237,698
4,132.432
65,381
4,274,338
4 Income from other tradin
acttvltles
Fundraising events
5 Investment income
Interest on listed investments
Dividends on listed inveslments
39
94,309
94,348
104.518
104.518
104,518
104,518
6 Other incoffle
studènt placements
Other
4,942
428
5,370
4.942
428
5.370
4,709
332
5,041
19

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
7 Totsl resource5 ex
ended
Charitable activities
Raisin
funds
Total
2024
Total
2023
Costs directly allocated to actlvitios
Payroll and associated costs
Materials
Advertisin9
MotOT expenses
Travel and accomodation
Equipment for service delivery
Consultancy
Fundiai5ing wsts
Bad debis
Depr8cialion
Computer ¢o$ts
3,139
1,948.362
1,506
2.717
4.409
109.824
1.046.872
11,653
1.951.501 1.705,862
1.506
7,567
2.717
4,265
4.409
4,451
109.824
94,693
1.046,872 1.205.805
11,653
29,001
348
180
348
79.489
82,774
3287.606
79,489
58,367
82,774
64,042
3.291.093 3.174.233
3,487
Support costs
Payroll and as50aated cosis
Staff training
Personnel. recFuitsnent and CRB
Rant and rates
Insurance
LvJht, heat and water
Repairs and maintenanc8
Prtnting, stationery and postage
Sub¥ctiptions and journals
Telephone
Equipment hire
Audit
Accountancy
Legal and professional
Bank charges
Sundries and cleaning
lffe¢overable VAT
Depreciation
Loss on fixed asset diswsals
Extemal projects
Research and davelopmnt
Computer costs
383,570
34.988
21.938
163.102
20,749
22,682
18.305
24.391
16,601
6.197
1.111
30.814
414,384
34,988
21,938
163.102
20.749
22.682
18,305
24,391
16,601
6.197
1,111
11.850
2,140
17,086
1,663
2.753
298.739
19,924
415.854
29.109
9,750
147,631
19,082
Ig.g30
16.673
20,955
24.710
5,414
1.283
11,850
2,100
10,452
3.758
4,055
333,356
18.972
11.850
2.140
17.086
1.863
2.753
298,739
19.924
39.430
1,121
9.197
1,105.687
39.430
14,136
1.121
1.822
9.197
7.116
42,664 1,148.351 1,118,008
Total resources expended
3,487
4,393.293
42.664 4,439.444 4,292,241
Support C081s have been apportianed using time spenl. a basis bthich is
considered consist8ntvAth the use of the resoufces.
20

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Total
2024
Total
2023
8 Staff costs
Total staff emoluments for the year were as follow5:
Salarles
National Insurance
Pension (see note 21)
1.799.752 1,611,874
192.041
176.043
374.092
333.799
2.365,885 2,121,716
9 Staff numb•rs
The average number of fvll-time equNalent employees aThJ secondee5
during the year were as folk)ws=
Nuthr
NumbBr
Charitabla activrties:
Service delivery
Governan
Raising funds
38.5
37.9
39.0
The number of employees whose emoluments amounted to more than £60.000 in the year were..
N￿E￿er
Number
etween £60.000 and £70.000
etween £70,000 £80,000
The charity corisiders its key management personnel to comprisÈ the trustees and the CEO.
The total employment benefits including employer pension contn"butions of the key manag8menl personnel
were £98,15812023, £82.6901.
None of the trustees wer8 paid ary remuneTation cluring the year (2023.. None). Tovelling expenses
amounting lo a total of £1,33812023.. £143) were paid on behalf of four of Ihe trustees.
10 Net movement in fund5
Net movement in funds 15 arrived at after charging Ilcrediting):
Depreciation of tangible fixed a55els
(Profitllloss on revalUat￿n of fixed assel inveslments
Operating lease rentals
Auditors, remuneration-
Audrt
Other servKes
99,413
1235,832)
146,417
77,339
272.371
133.983
11.850
2,140
11,850
2.100
11 Taxatlon
The company is 3 registered charity aThJ no provision is ￿n$*j￿red necessary for taxation.
21

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2(124
12 Tan
ible fixed assets
Leasehold Fixtures &
alteration5 Fitting5
Cornputer
Equipment
Ass8ssment
Equipment
Motor
Vehicle5
Total
C05t
Al 1 Apiil 2023
Additions
Disposals
Al 31 March 2D24
90.291
126.121
28.977
133,409
663.477
8B,248
12.528
1,025,826
119.623
90.291
155.098
135.807
751.725
12,528
1,145,449
Al 1 April 2023
Charge lor the perMMJ
Disposals
Al 31 March 2024
86.860
2.057
102.867
10.852
125.328
6,597
573,749
79.489
10,854
418
899,658
99.413
88.917
113.719
131,925
653.238
11.272
g99.071
N&t Bookvalue
Af 31 March 2024
1.374
41.379
3.B82
98,487
1,256
146.378
At 31 March 2023
3.431
23.254
,081
89.728
1.674
126,168
13 Fixèd asSÈt investmenls
Movement in fixed 8s5et investrnents:
2024
2023
Maiket value at 14Diil 2023
Additions lo investmen15 al cost
Nel gainllloss) on revaluation
Maiket value at 31 ma￿￿1 2024
3,342,167
21,108
235,e32
3.599,107
3.526.B79
87,659
272,371
3.342,167
Fixed asset inve5trnents by type..
2024
2023
UK equity Funds
Oversezs equity funds
Total listed investments
Cash on interest bearing deposrt
1.881,260
1.717,666
3.598,926
181
3,599.ID7
1.736.002
1.603.882
3,339.884
2,283
3,342.167
The above relates lo an investment wth Rathbone Investsnent Managomenl. Of the value held 8131 March 2024.
£1.717,728 is a medium tgrm invèstment134 years trovn IAarch 2019) and £1.881,379 is a bng term inveslrnenl15 years+}.
Al investments are carried at fair value (quoted rnarket price).
No material inve5trnents Iholdiws of more than 5% of1he total wtFolo value) are ncluded thtythin th& abov9.
Financlal rfsk relating to 5nvestments is managed by r81a¥￿Ty) èyp8rt advlsors and investment manager5. who
opetale an investment poliw that F￿vide5 for a high degree of dNer3rf1(atiDll of IK)Idings withn investsnenl asset
classes.
22

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
2024
2023
14 Debtors and
re
ments
Trade debtors
Prepayments and accrued income
22.412
148.851
355.868
188,181
171.263
544,049
15 Cash at bank and in hand
Cash at bank
Cash in hand
540,913
266,864
540,913
266,864
16 Creditors . amounts fallin
due within one
ear
Trade creditors
Value Added Tax
PAYE and Nl
Pension Contribut￿)nS
Accruals
Deferred income
138.565
2.973
244,800
6.940
78.839
174.280
62.705
54.773
394,657
369,218
Movements on deferr8d income account-
Brought forward
Released
Income deferred in current year
54,773
181,307
(54,773) (181,307)
174,280
54,773
174,280
54.773
Income has been deferred as it was racaived in advance of th& services beirKJ prowded.
17 Share Ga
The company has no share capita and the liabilty of members is limited by guarantee to £10
per member.
23

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
18 Ca
ital commltments
There were no commitments for capital expèndittjre at 31 March 2024.
19 Financial aid
The company acknowledges the suppori of its cotpjrate members and sponsors in kind.
20 0
eratin
lease commitments
The total future minimum lease payments under rK)n-cancellable operating leases are as follows:
2024
2023
Expiring within 1 year
Expiring wthin 2- 5 years
Expiring after 5 years
454.275
606.512
21 Retlrement benefit Scheme
The company opefates a defined beneffit pension scheme for qualifying employees, whtch is part of the
Greater Manchester Pension Fund. The GMPF is a multi-employer scheme, which is administered by
Tameside MBC under the regulations governing the Local Govemment Pension Sch9m8 (LGPSI- The
most reGent fomal actuarial valuation was completed as al 31 March 2022 and rolled forward. allowing
for the different financial assumpts"on5 required under FRS 102. to 31 March 2024 by qualified
independent aGtuaries, Hymans Robertson LLP.
The notional valu8 of the assets of the tharitys share of the scheme at 31 March 2024 was £7.469.000'.
the present value of liabilities was £6.164,000 leaving a net pension asset of £1,305,000 at 31 March 2024.
This is not recognised in the accounts, in line with FRS 102. on the basis that the asset is not
recoverable by reduced contributions or refunds lo the plan.
Key assumption&
2024
2023
Discount rate
Pension increaselrevalualion ￿te (CPI)
Salary increase rate
4.85
2.75
3.55
4.75
2.95
3.75
24

THE AGE CENTRE NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
21 Retlrement benefit scheme
continued
Mort81ity assumptions."
Assumed averaga future life exp6ciancies at age 65:
2024
Years
2023
Years
Current pansioners
Males
- Females
20.g
20.6
21.0
20.8
Future pensioners
Males
Females
22.2
25.4
25.1
2024
2023
Thg amounts charged or (creditgd) within the pension funcl. which can
b9 r8conciled wilh the chanty s Statement of Financial Activities
(including income and expenditur8 account) are as follows."
Current service cost
Net interest on definad benefit liability l (asset)
Past service c05t
307.000
(33,000)
641,000
82,000
Total
274,000
723,000
other recognised gains and losses..
Actuarial retum on schame assets
Loss.. calculated interest element
{184.000>
61,000
Return on scherne assets excluding int8rest income
(184,000)
61,000
Acluarial changès ralaling to obligations
(345.000) 13,952,000>
Total cost l (income)
529,000
3,891,000
25

THE ACE CENTRE NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
21 Retirement benefit scheme
contlnugd
The amounts included in the balanc8 sheet arising from the Company5 obligations in respect of defined
benefit plans are as follows:
2024
2023
Fair value of plan assels
Presenl value of funded retirement benefit obligations
7.469,000
6,575,000
16.164,0001 (5,899.000)
Suiplus in scheme
1.305.000
676,000
Unrecorded ass8t due to uncertainty of recovery
(1.305,0001 1676,000>
Movements in fhe pr8sgnt valu8 of defined benefit obligalions
Liabilitles as al 1 April 2023
Current seNice cost
Pas1 service cost
Benefits paid
Contributions from scheme members
5,899,000 8,865,000
307,000
641,000
(99.0001
114.000
115,000)
107,000
Remeasurements..
Changes in financial assumptN)ns
Changes in demographic assumptions
Other experience
Interest cost on defined bènefit obligation
(476.0001 (4.359,ooo)
138,000}
(49,0001
169,000
456,000
288,000
253,000
Liabilities as at 31 March 2024
6,164,000 5,899.000
The defined benefjl obligations arisa fmm plan fvnded as follow&.
Wholly unfunded obligations
Wholly or partly funded obligations
6,164.000 5.899.000
26

THE ACE CENTRE NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
21 Retirement beneflt schemo
continued
2024
2023
Movement in the fair valu8 of plan assets."
Opening fair value of scheme assets at 1 April 2023
Interest income on plan assets
ContribLJtions by employer
Contributions by Members
Benefits paid
Return on as5els exdudiTh3 amounts included in nel interest
Closing fair value of schemè assets at 31 March 2024
6.575,000 6,040,000
321,000
171,000
374.000
333.000
114,000
107,000
{99,000)
(15.0001
184,000
(61,000
7.469.000 6.575,000
Tho major categories of plan assets as a percent8ge of totalplan
assets are a5 follows.-
Equities
Bonds
Property
Cash
69
15
69
15
2024
2023
The analysis of the scheme assets at the ftpporting date were as follows."
Equity instruments
Bonds
Property
Cash
5,153,610 4,536,750
1,120,350
986,250
597,520
526,000
597.520
526.000
7,469.000 6,575,000
27

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
22 Anal sis of charitable funds
Analysis of fund movements:
At
31 March
2024
1 April
2023
Incoming
resources
Resources
expended
Investment
gain5
Resricted Funds..
Funds for restncted purposes
4.959
{4,959)
Unrestricted funds."
General fund
3,910.030
4,351.627
(4,434,485)
235.832
4.063,004
Total
3,910.030
4,356,586
(4,439,444}
235,832
4,063,004
23 Anal sls of nel asset5 between funds
General
Funds
Designated Restrlct8d
Funds
Funds
Total
Funds
Tallgible fixed assets
Fixed asset investm8nts
Debtors
Cash at bank and in hand
Creditors due within one year
Net assels 31 March 2024
146,378
3.599,107
171.263
517,847
371,591
4,063,004
146,378
3,599,107
171,263
540,913
(394,657
4,063,004
23,066
23,066
28

THE ACE CENTRE-NORTH
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
24 Reconciliatlon of net movement in funds to net cash flow from o
eratin
activities
2024
2023
Net movement in funds
Add back depreciation charge
Add back assessment equipment Iransferred to clients
Add back (profrt)Iloss on revaluation of investments
Deduct interest income shown in investing activities
Deduct dividend income shown in investing activities
DeGreasel{increase) in d8blors
Increasel(deGrease) in creditors
152,974
99.413
1186,799)
77.339
(235,832)
272.371
{39)
(94,309)
(448,7781
22,731
1402,946
(104,518)
372,786
25,439
310,262
25 Related art transactions
There were no ￿lated party transactions during the year (2023: none)
26 Contin
ent liabili
Tha charity is the subject of a daim lo an employment tribunal which is not scheduled to
tak8 place ur)til Octob8r 2025. At the present lime, the outcome of Ihe tribunal is
uncertain and it is therefore impracticable to d8termine any potential financial effect
on the charity wtth any degree of reliability-
29