REGISTERED CHARITYNUMBER: 01089812 REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR CEREBRA - FOR BRAIN INJUREXHILDREN AND YOUNG PEOPLE Xeinadin Audit Limited Statutory Auditors and Chartcr¢d Accountants Lammas Stre SA313AL CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Pale Report of the Truitrt8 I to 4 Report of the Independent Audlton 5 to 8 COn￿lIdAted Stitemtnt of Flnandal P￿IdOll Charltable Company Ststemellt of FIDanelal Acdvhlei con10lldat￿ BAIAn¢e Sheet 10 li ChArJt*ble Company Balanee Sheet Caih Flow Statement 12 13 Nots8 to the Coll8olld4ted Cith Flow Statement IYots¥ to the FlnaD¢iII Statements 14 15 to 26 CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who ar¢ a150 director6 of the ch￿lty for the puryoses of the Companics Act 20061 pregent their report with the financiaj statemcnts of the charAty for the year ended 31 Decembcr 2024. The th]stees have adopted the provision8 of Accounting and Reporting by Charities: Statement of Rccommended Practice applicable to charlties preparing their accounts in accordance with the Financi￿ Reporting Stand￿d applicabl¢ in the UK and Rq)ublic of Ir¢l8nd (FRS 102) (cfft¢tivc I January 2019). The ttustees confTh that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard lo public benefit guidance published by the Charity Commission. Significant activities that w¢re undertaken during the y¢ar demonstrate public benefit and ar¢ 8et out in thc following pages. OKJEcfivFS AND ACTtVlTIL8 ObJec*lvu And 8lmi The objects of CerebTa- For Brain Injured Children and Youll8 P¢ople ('Cer¢bra") are the relief of brain injury> neurolo8ical disorder4 mental disabilities and dcvelopmcnt problems primarily in babies and young childrcn by carryin8 Out researeh or 88AiStin& facilitating funding or sponsoring research, for the publi¢ into all aspccts of such injuri¢1 di8order4 di8abilitio8 and problem8 and publishing thc use￿] resulrs of such research. ACHIEVEMENT AND PERFORMANCE Invutm•nt performan Under tbe Memornndum and Articlcs of Association Cerebra has thc power to make any investment, which the Board See fit. Fund8 suryJIu8 to irnmediate requirements ar¢ curndy Invested in bark deposit account8. STRUCTUR4 GOVERNANCE L"ID MANACEMENT CoverDlllg document Cerebra is a company limited by guarantee 8overned by its Memorandum and Articlcs of Association dated 7th D￿ernber 2001. It is registered with both Companies House as r¢gistercd Company number 04336208, and with the Charity Commission as a registered Charity number1089812. RecrultmeDt and •ppokntment of new truite All trU￿ee$ are members of thc Board of Cerebr4 and are all registered as Company Directors wftth Companies House. ApplirAtions are 8OU8ht by advert and personal referra]s. There is no set length of terni for bystees, appointments although one third of trustces rnust retire rotstion at every annual general meeting. Rctiring tru8t¢¢s are eli￿le for rtrappointinent. OryAnlMtI0n￿ ￿ru￿re The board of TTUSte¢J administers the clwity, and meets on a quarterly basis. Wc have one 8enior membcr, The Chair of trustees who takes overall rc5ponsibility for the administration of the board and how it operates. One fither trustee is appointel to be the Company Treasur¢r. with the responsibility of examining the fmancial arrangenkents of the ch￿lty and advi8¢ the board on the regular findin8s of their ¢xamination. Inducdon 2nd tralDlng of DeTv tn￿teel Ncw trn5tces will undergo 8nd Induction day to brief them on their l¢gal ob]igations under charity and company law. the Content of thc Memorandum and Articles of A&sociation, the committee and decision making pmccss thc business plan and the recent financial perf0rnwj￿ of the charity. During thc induction process they will me¢t key employees and other trustees. Trnstc¢s are cncouragcd to attcnd appropTiate ¢xterll81 tr8ining ¢v¢nts where these will f￿lLitate the undcTBtanding of their responsibilitics and a charity trustee. Page I CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Key management remuneratlon The labour turnover WRthin Cerebra is Small. We have two clAssificaiion8 of employees. those who paid on a fortnightly basi4 who are paid in attordance with the N￿lonal Living Wage. All othw staff are paid on a monthly basis and their level of pay is r¢vi¢wrAJ and maintsined from the out-going employc4 SMT memb¢rs with WOTk with line managers to jobs within the market plac¢ for a similar rol4 for a similar organisation. Rtsk mill•gement Key rtsks In¢ome generation remainB one of the biggest clAllenges and risks within the orEanisation. This is not new and Ce￿bra ontinually look to find ways to oontrol this level of risk and combined with the ￿tUre Strategic plaolreview that was complcted in 2023, w¢ Tcnuin eXtren￿lY positivc thfit challg¢8 and control sygtfflns be maintsined. REFERENCE AND ADMINISTRATIVE DETAIIS Re8lstered Company number 04336208 (En8land and Wales) Reglst¢red Charlty numb 01089812 Re8lIter￿ ofll¢¢ Thc MacGrcgor Office Suite Jolly Tar Lane CaTmarthe Carnartbcn8hire SA313LW TruBt¢ Mr D J Bcattie Finanrx Director Dr M E l Morgan ParAliatrician (Retired) Mr J Crosby Consultant Mr R Goodin8 Headmaster (reBA8ned 4.5.24) Mr S Taggart Chairnlan (resigned 1.4.24) Mr A Cuthbcrt (resign￿ 12.324) Ms I Shapi Mt8 M Atkinson Solicitor (appoiated 2.124) Mr B J Moss Executive Director & Joint CEO (appointed 2.124) MrN E Over Freelance Charity Leadcrship (appointed 2.1.24) Mi&8 C G¢¢ves Chairn]8n (appointed 1.424) Ms J R morg￿ Self employed (appointed 12.924) Company Secretary Mr E RNi¢holls Page 2 CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audfto Xcin&din Audit Limit¢d Statutory Auditors and ChBrtff•l Accountants 24 Lanunas Street Camiarth¢n SA313AL Solldtorq JCP Solicitor8 Vcnture Court Vallry Way Ente￿n￿¢ Park Swans￿. SA6 8AH Redkit¢ 14-15 Spiimon Str¢ Camiarthtn SA31 ISR Barclays Bank Pl¢ 9 - 10 Guild Hall Square CaTmarthen SA31 IPW Caf Bank Limited PO Box 289 West Malling Kent ME19 4TA STA TEMENT OF TRUSTEESI RESPONSIBILITIES The trnstccs (who are alsx) the directors of Ccrcbra- For Brain Injured Children and Young Peoplr for the purposes ofcompany law) are responsible for pjryaring the Report of the T￿Ste¢S and the financial statements in accordance with applicabl¢ law and Unitcd Kingdom Accounling Slandard8 (tjnited Kingdom Gcnerally A¢ceptcd Accounting Practice). Pagc 3 CEREBRA- FOR BRAIN INJURED CHILDREN AIYD YOUNG PEOPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RLSPONSIBILTTIES - ¢ontlDued Company law requires the trnstees to prepare fllwicial statfflnents for e8eh ffftancial year which give a true and fair view of the state of affairs ofthe charitable company and ofthe incoming re8ourtts and application of resource4 including the income and cxpenditurc. of the charAtsblc company for that period. In pryaring those f￿￿cIal slatemcnts, the tNstee8 are required 8elect suitable accounting policie8 and then apply them consist¢ntlyJ observe the rnethods and principles ill thc Charity SORP; mokc judgements and cstimate8 that are rcasonable and prudent. prep￿t the financial statements on the going concern basis unless it is inappropriale topresumethat the charitable company will continue in bu8inc8& The Iru8tees are responsible for keeping proper accounting records whAch disclose with r￿ollable accuracy at any time the financial position of thc charitable compony and to enablc them to ensurc that the fllw]cial statements comply with th¢ Companie8 Act 2006. They are also rc5pon$ible for Safeguarding thc asset8 of the charAtabl¢ Company and hence for tskinE reasonable 8t¢P8 for the prevention end dctertion of fraud and other iTregul8ritie8. In so far a8 the trustce8 are aware: thcrc is no relevant audit inftinnation of which thc charitable company's auditors are unaware; and the tnL8te48 have takcn all steps that they ougbt to have tsken to make themselves aware of any relevAnt Audlt inforn]ation and to establish the auditors ar¢ aware of that inforniation. AUDITORS The auditor8. XcinadiD Audit Limited, will be prop08ed for re-appointment at thc forthcorning Annual General Meetin8. Xcinadin Audit Lirnitsd have indicated their willin8ne&q to continuc a8 auditors, 8ubject lo reappointment at the ncxt Annual General Meeting. Approved by ordcr of the board of tN8tee8 on . . 0% . S :.. and Signed on its bebalf by." Miss C Geeves. Thistee Page 4 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE Opinion We have audited the financial statements of Cerebra - For Brain Injured Children and Young People (the Parent 'chaTitsble ¢ompany? for the year ended 31 December 2024 which comprise the Consolidated Statemcnt of Financial Aclivxties, Cknitablc Company Siatemcnt of Financial Activiti4 thc Consolidated Balance Sheet. the Charitsble Company Balance Sheet, the Consolidated Casb Flow Statelnent and notes to the fllwicial Statemen￿ including a surnmary of significant accountin8 policies. Thc financial ryoitin8 framework that has been applicd in theirpreparation is applicable law and United Kingdom Accountin8 Standards (United Kin8dorn Gencra]ly Acccptcd Accounting Praeticc). In our opinion thc finallc1￿ statemcnts: give a and fair vivw of thc statc of the parent charitablc comp8tys affairs as at 31 De4ember 2024 and of its incomin8 resource8 and 8pplication of resources. including its income and expcnditur4 for the year then ended: havc be¢n properly prepared in accordan¢e with Unit¢d Kingdom Il¢nerally Acccpted Accounting Practi￿. and have beth prq)ared in accordallce with the requirements of the Companies Act 2006. Bail• for oplnlon We conducted our audit in accordanrA with tnternationa] Stsndards on Auditing (UK) USAS (UK)) and applicable law. Our responsibilities under those stalldard8 are further described in the Auditors, responsibilities for the audit of the flnallcial statemellts seetioft of our report. We are independent of the eharitsble compony in accordanc¢ with the thhical requiremcnt$ that arerelevant to our audit of the fjnancial statements inthe UK, including the FRCS Ethical Standar4 and wehave thlfilled our other ethical responsibilities in accordance with these wuirements. We beJAeve that the audit ¢videnc¢ we have obtained is suITi¢icnt and appropriate to provid¢ a basis for our opinion. Coneluiloni rtlatlng to golng ¢oneern In auditing thc financial statcment4 wc havc concluded that the trustcc8' usc of the goin8 concern basis of accounting in the preparation of the financial statements is appropriate. B￿ed on the work we have perfornied. we have not identifia any material uncertainties relating to events or conditionts thaL individually oi Collectively. ntsy cast sigtiifieant doubt on the eharitsble company's ability to Continue a8 a goillg ¢onc¢rn for a period of at least twelve month8 from when the fjnancial statements are authorised for i&8ue. Our reBponsibilitlC8 and thc rcsponsibilitiL8 of thc tNstccs with rrApcct to 8oin8 conccrn arc dcscribcd in the rclevant Sections of this report, Other InformatloD Thc tru8ttts arc rcBponsible for the other inforniation. The otherinforniation comprises the inforniation included inthe Annu Rwort, other than thc financial statcmcnts and our Rwirt of the Independent Auditors thereon. Our opinion on the fmancial statements does not covcr thc other Inforn￿tiOn an4 ex¢¢pt to the ¢xt¢nt oth¢nvlse explicitly stated in our repo¢ we do not express any forni of conclusion thereon. jn connection with our audit of thc financial 8tatements, our reswnsiljility is to read the other infonnation an(L in doing so. Consid￿ whcther the other infonnalion is materially inconsistent with the financial statements or our knowledge obtainrAI in the audit or otherwise appear8 to be materially rnisstated. If we id¢ntify such material inconsistcncic8 or apparent material misststements. we are required to detennine whether this gives rise to a material misstatement in the financial statements themsdves. If, based the work w¢ hav¢ p¢rforn]¢(L we wnclude that ih¢re 18 a material mi&8tat¢m¢nt of this other information. we are required to report that fact. We have nrtbin8 to rcport in this rcgard. Oplnlon$ on other mAtt¢rs preyerlbed by the CompaDles Act 21VJ6 tn our opinion. based on the work undertaken in the course of the audit: the inforrnation given in the Report of the Th￿te¢S for thc f]nancial ycar for wbich thc financial stat¢m¢nts arc prq)arcd 18 consist¢nt with the financial 51atemcnts" and thc Rcport of tbc Trustees has becn prepared in accordance with appli¢ablc legal requirements. Pase S REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE Matt¢n on which we Ar¢ r¢qulr¢d to report by exeepdon In the light of the knowledge and undcrstanding of the charitable company and its environment obtaina in thc course of the audiE w¢ have not idcntified materlal misstatancnts in tbe Report of the Trnste¢s. We have nothing to report in re8pe£t of the following llLatt¢rs wlwe the Companies Act 2006 requires us to report to you if, in our opinion.. adequate a¢countittg re£ordg have not been kty by thc Charitable Parent Cornpany or return5 adequate for our audit have noe bM received from branches not visitcd by or the Charitable Parcnt Company financial statements arc not in agre¢m¢nt with th¢ accounting re￿)rdS and returns: or certain disclosures of tNstccs' remuneration specified by law arc not made; or we have not receiv￿ all the inforniation and explanations we require for our audit. or the tTh￿te¢S wcrc not entided to lake advantagc of the Bmall compani¢s exemptson from the wuirement to pry8r¢ a StrAteBiC Report or in preparing thc Rcport of the Thistees. Re•pon8lbllltlei of tru¥te•J As explained rnore fully in the Statement of TnJstCC8' Responsibilitiw the trustees (who are also the dlr¢¢tors of the charitable company for the pury￿Ses of company Igw) are responsible for thc prqwation of the fllwicial statrmcnts and foT being satithcd that they give a true and fair view. and for Such intenMI control As the trustees deterniine is neccssy to enable the pryaration of financial statements that arc free frorn material mi8Statemenl, whether due to fraud or c￿r. In preparing the finan¢ial statem¢nt8, the trustees are responsible for assessin8 thc charitable company's ability to continue as 8 80in8 concern, disclosin89 as applicabl¢, matters related to going concern and using the goitig conecrn basis of accounting unless the trnstees either intend to liquidat¢ the charitable company or to rxa8c operations or have no rea]i8tAC alternative but to do so. Pagc 6 REPORT OF THE II¥DEPENDEIYT AUDITORS TO THE MEMBERS OF CEREBRA. FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE Our reiponilbllldes for the audlt of the financial stAtements Our objectives are to obtain reasonable asSI￿anCe about whctbcr the finAncial statcmcnts as a whole are free from material mis5taternenL whether due to fraud or error, and to issue a Report of the Indq)¢ndent Auditors that Includ￿ our opinion. Reasonable assurance 18 a high Icvcl of ￿sUranCe, but is not a guarantee that an audit conductd in accordance with ISAS (UK) will always detett a matcrial misstatement when it cxists. Misstatcmcnts can arise from fraud or error and are Considered material if, individually or in the aggregate, they could Tev4sonably be expected to influence the economic decisions of users taken on the basis of thcse financial Btai¢m¢nts. The extent to which our procedures are capable of detecting iTregularitie4 including fraud is detailed below: Extent to Ivhl¢h tb¢ Audh ￿nalder￿ capable of deteeting Irregularllle6 Ineludln8 fraud We identify and assess the risks of materia] misstatem￿t of the fllwicial Staternen￿ whrther duc to fraud or error, and then design and perforni audit procedures rcsponsivc to thosc risks, includin8 obtainin8 audit evidence that is sufficient and appropriat¢ to provide a basis for our opinion. Id¢ndfyln8 and Ai•essiii8 POtentlAI rhki relattd to Irregu]Arltl•B In identifying 2nd asscssing risks of material misst8tcmcnt in resw of irre8ularities. including fraud and non-compliance with laws and regulations, we con8idercd thc following,. the nature of the industy and aector. control cnvironmcnt aDd busincss pcrfonnancc including the design of the Charitable Parent Company and Group's remuneration po]icie4 key driver8 for directors, remuneratiofy bonus lev¢ls aad perforniance targcts. results of our enquirics of rnana8crncnt about their own idcntification and asscssment of the risks of irregularities. any matters we idcntified havin8 obtained and reviewed the Charitable Parent Company and Group's documcntation of their polAcies and procedures relating to: identifyingy cvaj". ;tin8 and complyin8 with law8 and r¢8ul4tions and whether they w¢r¢ aware of any in8tanr-. of noneomp]iancc" detecting and responding to the risks of fraud and whether they bave knowledge of any actual. suspected or allrycd fraud; the internal controls Cstablishcd to rniti8ate risk& of fraud or nonrnpliance with laws and regulation4 the matters di8cuss&I among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of frnud. AS a result of tbesc proccdurc4 wc considcrcd the OPPOTtunities and inc¢ntive8 that may exi8t within the organisation for fraud and identified the greatest potential for fraud in relation to Thenue recognition. In common with all audit8 undcr ISA8 (UKI w¢ ar¢ also required to Perfo￿ specific procedures to respond tt> the risk of management override. We also obtsined an und¢TStanding of the legal and regulatory fromework8 that the Group operates in. focu8ing on provisions of those laws and regulations that had a direct effcct on the detern]ination of matcriai amount5 and disclosuTC8 in the financial statement8. The key laws and regulations wc L¥)nsidercd in this context included the Comp8ni¢B A¢t 2￿)6, FRS 102 Charity SORP. In additiory we considered provisions of other laws and regulations that do not have a direct effect on the financial statem¢nts but compliance with which may be fundamental to the Group's ability to operate or to avoid a material penalty. Th￿e included compliance with Gambling Act 2(KJ5, Fundraising regulations for Charitie￿ Data protection laws (includin8 General Data Protection R¢gulation {GDPR) Audft reiponse to rhki Identlfled As a result of pcrfonning the abovA we id¢ntifi¢d r¢v¢nu¢ r¢¢ogDition &8 a key audit rnatt¢r Telated to the potential risk of fraud. Our proccdurcs to respond to risks identified included the following: Page 7 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE reviewing the fmancial statement disclosurcs and testing to supporting documentation to asscss ¢ornpliance with provisions of rclcvant laws and regulatiorts d&qrJibed as having a direct cffect on the financial statements" carrying out W￿kthrOUgh, traTJsaction testing or proof in total on all n￿er1￿ incomc and expenditure stream4 ¢nquirAnB of matwement concerning actual and potential litigation and claim4 pcrfonning an￿Y¢ll¢s1 procedures to identify any unusual or unexpected relationships that may indicate ri8k8 of materiaj misstAtement due to fraud. reading minutes of mcetings of th08e Cl￿rged with govemance and the senior Dwiagernent team. in addrcssing the risk of fraud through managanent OVCTride of controls, testing thc appropriatcness of journal entrias and other adjustments. 48ses8ing wh¢ther the judgcm¢nts made in nukin8 accounting estimates arc indicative of a ￿l¢ntIal bias; and eVah￿ting the business rationale of any si￿]fi￿ transactions that are unu8ll￿ or outside the nomal course of business. We also communicatcd rclevallt identified laws. regulations, and potential fraud risks to all engagement team members and remaincd alert to ally indication8 of fraud or nonei)mpli8nce with laws and regulations throughout the A fLwthcr d¢￿riptIOn of our rcspon8ibilitics for the audit of the financial 8tat¢ments is located on the Fillan¢ial Reporting Councills website at www.frc.or8.uklauditorsresponsibilitics. This description forn]s part of our Rwjrt of the Indepcnd¢nt AuditOTS. Us• of our report Th1$ rcport is made sole]y to the Ch￿l￿b]e parent company'8 members, as a body? in accordance with Chapter 3 of Part 16 of the Cornp4nies Act 2006. Our audil work has been undertaken 80 that we might state to the charitablc parent company's mcrnbers thoK matters we are required to slate to thcrn in an auditors, rwort and for no other puryosc. To the fullut ¢Ktent perniitted by law, we do not aw or assLm]e responsibility to anyone other than the ¢harAtsble parcnt company and the clwilable ¢ompany's mcmb¢rs as a bodyi for our audit worL for thi8 rq)ort, or for the opinions we have forn]ed. Mr Mark Joncs FCA CTA (S¢nior Ststutory Auditor) for and on b￿￿lf of Xeinadin Audit Limited Statutory Auditors and Charteted Accountants 24 Lamrnas Strcct Carniwthen8bire SA313AL Date: ........ Page 8 CEREBRA - FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE CONSOLIDATED STATEMENf OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total flmds 31.12.23 Total funds Unrcstrict¢d Restricted fund Nole$ IY4COME AND ENDOWMENTS FROM Donations and legacies 2263.996 124,362 2J88,358 2,496,122 Charitable aedvhl¢• Re8earch & Inforniation (inc Research Projects) 30,127 30,127 26,844 Jnvestmcnt incom¢ TotAI 2 344 523 2 468 885 2 560 954 EXPENDITURE ON Raising fLmds lJ13,489 1,313,489 1,317,072 charIt￿le Pd¢tlvld•i Sleep S¢rYi¢e Re8earch & Inforniatiojj (in¢ ReSe￿¢b Projects) 172,431 1059 622 16.845 182 183 189276 1241805 201230 1287 052 Total 2 545 542 19n 028 ￿70 ￿54 NET INCOMEI(EXPKNDITURE) (201.019) (74,666) (275,685) (244400) RECOlYCtLIATION OF FUNDS Total fund8 brought forward 956,067 242,791 1,198,858 1,443,258 TOTAL FUNDS CARIUED FORWARD The notcs fonn of thesc fmancial statemclltS Page 9 CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE CHARITABLE COMPANY STATEMENT OF FINANCIAL ACTIVITIES IYCORPORATING AN INCOME AND EXPEIYDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total fLmds 31.12.23 Unrc5tricted fund R¢stricted fund d$ Note8 INCOME AND ENDOwmE￿s FROM Donations and l¢gacies 2,263,996 124,362 2,388,358 2,496,122 ChArltAble actfvldes Research & Inforniation (inc Research Projects) 30,127 30,127 26.844 Investment income Total 2 344 523 2 468 885 2 560 954 XPENDITURE ON Raisins fimds 1,313,489 lJ13.489 1,317,072 ChArltAble a¢tlvltleg Slccp Service R¢sear¢h & Inforn)ation {in¢ Resear¢h Projccts) 172.431 1059 622 16,845 182 183 189,276 201,230 1287 052 Total 2 545 542 2 744 570 IYET INCOMKI(TXPENDITURE) (201,019) (74,666) (275,685) (244,400) RECONCILIATION OF FUNDS Total funds brou8hl fonvard 1,059,250 242,791 1,302,041 1.546,441 TOTAL FUNDS CARRIED FORWARD 168 125 1026 356 1302 041 The note8 fom part of financial stat¢D)ents Page 10 CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE CONSOLIDATED BALINCE SHEET 31 DECEMBER 2024 31.12.24 Total 31.1223 Total funds Unr¢stricted fund Restricted fund Note8 FIXED ASSETS Tangible assets 12 57,716 57.716 82,867 CURRENT ASSETS Debtor5 Cash a¢ bank 13 36,957 843 233 36,957 168 125 ￿58 31221 1423 668 880,190 168,125 1.048.3 J5 1,455,889 CREDITORS Amounts falling due within one year 14 (182,858) (182,858) (339,898) NET CURREIYT ASSETS 697 332 168 125 865 457 1115991 TOTAL ASSETS LESS CURRENT LIABILITIES 755,048 168,125 923,173 1,198,858 NET ASSETS 168 125 923 173 1 198 858 FtJNDS Unrestricted funds Rcstiicted fund8 17 755,048 168 125 956,067 242 791 TOTAL FUNDS 923 173 1118858 The8¢ financial statements have becn pr￿ared in accordance with the provisions applicable to charitable compani¢s subject to the 8rnall companies regime. The financial statcment8 werc approved by the Board of Twste110￿. WIAGEMENT 31.12.24 Raising donation and lega¢ies 31.1223 Total activities Wages Social sccurity Pensions Hirc of plant and machinery Rcnt, rates and service char8e8 30.745 3,203 1,661 54 2,820 1.080 1.232 811 227 190 359 300 3,116 496 69 31,338 3,308 1,705 134 2,339 1,178 847 941 241 3.875 156 61 2.397 389 79 Light and heat Telephone Postage and Stationery Sundri Staff trainin8 Cleaning Computer costs Travelling Subscriptions 49.436 Pag¢ 18 Colltinued... CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR EI¥DED 31 DECEMBER 2024 SUPPORT COSIS - condnued GOVERNANCE COSTS 31.12.24 Raising donations 31.12.23 Total artivitias les￿les Truste¢s' expcn8¢8 Auditors, rcmuneration Sundries Legal and professional fccs Board meetings Loss on sale of tangible fixed wets 1,683 9.668 306 29.851 (843) 436 10,470 644 11,280 990 NET ll¥COMEI(TXPENDITURE) ln¢omeJ(￿PcnditllTe) is stated after chargin8J(cr&liting): 31.12.24 31.12.23 AuditoTh' remuneration D¢preciation - owned asset8 Hire of equipment D¢fi¢it on disposal of fixed a&8cts 9,668 38,618 677 10,470 34,512 1,671 TRUSTEES, REMUNERATION AND BENEFfTS There were no trustees, remuneration or other benefits for the year ended 31 Dccernber 2024 nor for the year ended 31 Dcccmbcr 2023. TRUSTEES, EXPENSES During the ycar 4 tru8tees receivcd travel expenses totalled £1,683 (2023: £436). Page 19 ¢ontinueit.. CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - contillued FOR THE YEAR EIYDED 31 DECEMBER 2024 STAFF COSTS 31.12.24 31.12.23 Wag¢s and salaries Social security costs Othcr pcnsion costs 1,447,313 126.838 ,476,414 126.068 1672 737 The average monthly numb¢r of cmployees during thc year was as follows: 31.12.24 18 27 16 31.12.23 17 38 io Charitable activitics Cost of generating funds Man88ement and admiDlStration 61 65 The numbcr of employees whose employee ben¢fits (excluding employ¢r pension ¢ost8) excecdcd £60,000 wa8: 31.12.24 31.12.23 £70,001- £80,(M)O £90.CQI - £IOO,000 In addition to their salaryj the charity paid pension contribution8 of £4,752 (2023: £5,9(J)) into a moncy PU￿haS¢ cherne. Kry management pcr50nn¢l consists of 4 members of thc Senior Monagernent Team and thc Chief Executive. The total employee benefits of th¢ key mallag¢ment personnel of thc Charity was £273,834. There are 33 full time employccs and 28 part timc crnployee4 average FTE 51 employees. Page 20 tontinued... CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restrictts fund Totsl funds INCOME AND ENDOWMENTS FROM DonatiODS and legacie6 2,271,758 224,364 2,496,122 Charltsble Attlvltlei Re8¢￿h & Tnfornlation (in¢ Re5earcb Projects) 26.844 26,844 Investment incorn¢ Total 224 2 336 590 ￿64 2 560 954 EXPENDITURE ON Raising fund5 1,317,072 1,317,072 Charltable a¢dvltl Sleep Service iie8earch & tnforniation (inc Research Projc¢ts) 181,342 1230551 19.888 201,230 Tot 2 728 965 2 805 354 T INCOMEI(EXPENDITURE) (392,375) 147,975 (244,400) RECONCILIATION OF FUNDS Total funds brought forward 1,451,625 94,816 1,546,441 TOTAL FUNDS CARIUED FORWARD 242 791 1302 041 Pagc 21 Continue￿.. CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ii. RESEARCH PROJECTS. CHARITABLE ACTIVITIES The amounts payable in thc yew comprises :. Swansea R & D CIC Royalties Academic Chair- Barcdona Academic Chair- Birmingham Academic Chair- IKeds Academi¢ Chair- L¢¢ds Law School Academic Chair- Aston Univ¢rsily Acadetnic Chair - Warwick Restricted Expenditure Sundry Research Expenditure 45,0(XJ 15,064 20,429 185232 66J53 45.000 (1,050) (11,235) 96,943 465 432 The balance between R￿¢arch clwitable activities as above and the total of Res¢ar¢h r¢source8 expendcd 1$ as a Mult of th¢ T￿lI0¢atioll of support cost& 12. TAIYCIBLE FIXED ASSETS ]mprovements to Fixture8 Otrice equipment Compuier equipm¢nl fittings COST At l January 2024 Addition8 34.197 129,920 91,744 912,656 1,168,517 At 31 D￿ernber 2024 129 920 1181984 DEPRECIATION At l JaDuary 2024 Charge for year 15.739 125,143 90,779 965 853.989 1.085,650 At 31 December 2024 126 934 886 431 1124 268 NET BOOK VALUE At 31 December 2024 At 31 Deccmbw 2023 965 Page 22 continued... CEREBRA. FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE OTES TO TUE CONSOLIDATED FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 13. DEBTORS: AMOiINfs FALLING DUE ￿THIN ONE YEAR GROUP 31.12.24 31.12.23 Tradc deblors Amounts owed by group undertaknngs Prep8yllL¢nts 1,920 5,191 CHARITABLE COMPANY 31.12.24 31.12.23 Trade debtors Amounts owed by group undertakings Prepaymcnt 1,920 103,183 5,191 103,183 27 14. cRED￿oR5. AMOUNTS FAILING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdraft8 (8¢¢ not¢ 15) Trndc creditors SOCI￿ security an ' other taxes Othcr craitors Deferred lottery income Research and general accN818 4,8 3,097 27.753 12,461 83.150 13.271 25044 1.099 74,910 224 674 182 858 339 898 Thc charity operatcs a lotlery 8chemc and income is received in advance from some participants. This is defetred until the lottery is dTawn cach weck A8 at 31 Decernbcr 2024 there was an amowit of £83.150 in¢lud¢d in deferred lottery income. (2023.. £74,910). 15. LOANS- GROUP AND CHAiUTABLE COMPANY An analysis of the maturity of loan8 is giv¢n bclow: 31.12.24 31.12,23 Amounts falling due within on¢ year on dcmand: Bank overdrafts Pagc 23 continued... CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - coDtinued FOR THE YEAR ENDED 31 DECEMBER 2024 I& LEASING AGREEMENTS- GROUP AND CHARITABLE COMPANY Minimum l¢a8¢ payments undcr non-cancellablc opcrating leases fall due as follows: 31.12.24 31.1223 Within one year 17. MOVEMENT IN FUNDS- CAHRITABLE COMPANY Net movement in funds At 31.12.24 Atl.1.24 Unrntrl¢t¢d fund• Generftl fund 1,059,250 (201,019) 858,231 Re8trleted fundi Research prOj￿ts and parent support 242,791 (74,666) 168,125 TOTAL FUNDS 1302 041 275 685 1026 356 N¢t mov¢mcnt in fi￿d4 included in the above are as follows: In¢omiJJ8 reSoU￿e8 Resour¢¢8 exp¢nded Movement in funds Lnrwtri¢ted fundi General fiind 2,344,523 (2 J45,542) (201,019) Reitrlcted funds Research projccts and parent SLWPOrt 124J62 (199,028) (74,666) TOTAL FUNDS 2 468 885 2 744 570 275 685 Page 24 continue(L.. CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMEIYT IN FUNDS- ¢ontinued Comparatlvej for movement In fundj Net movement in fimds At 31.12.23 At 1.1.23 Unreltrlcted fund$ General fund 1,451,625 (392,375) 1,059,250 trlcted fundi Research projects and parent Support 94,816 147,975 242,791 TOTAL FUNDS 1302 041 Comparativ¢ n¢t Jnovement in fund4 included in the above are a8 follows: Incomin8 resources ReAourccs expended Movcmcnt in funds Unrtitrleted hndi General fund 2,336,590 (2,728,965) (392,375) Re8trkted funds Research projects and parent support 224,364 (76,389) 147,975 TOTAL FLThDS 2 560 954 2 805 354 A current ycar 12 months and prior year 12 months cornbineAI position 18 as follow8: Nct movement in funds At 31.12.24 At 1.1.23 UDreJtrkt¢d fundB Gener￿ fund 1,451,625 (593.394) 858,231 Restrkted funds Research projects and parent support 94,816 73,309 168,125 TOTAL FUNDS 1546 441 520 085 1026 356 Page 25 continucd... CEREBRA- FOR BRAIN INJURED CHILDREN AND YOUNG PEOPLE NOTES TO THE CONSOLIDATED FTNANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN Fi]NDS - contlDued A cutrent year 12 months and prioT year 12 months combined net movement in funds, inciudcd in thc above are as follows: Incorning resour¢¢s Resources expended Movement in funds Unrestrlcted thndi General fund 4,681,113 (5,274.507) (593,394) Rejtrlcted funth Research projccts aDd parcnt support 348.726 {275,417) 73,309 TOTAL FUNDS 5 029 839 5 549 924 520 085 RELATED PARTY DISCLOSIIRES There were no related party tr8nsa¢tion8 for the ycar ¢nded 31 December 2024 or 31 DrK¢mber 2023. 19. C0NTINGJ￿T A&SET The ¢harity h88 receivcd notification of a l¢ga¢y with an estimated value of £750,000 whieh not been included within legacy in¢ome because at the year end it did not rneet the income re¢ognition criteria. REIATED UIYDERTAKtNGS The charlty's int¢r¢st in related undertakings at 31 December 2024 is as follows. Boundlcss Inspiration Lirnited is a IOOYO Subsidiary of C¢rebra- For brain injured cbildrcn & young people. Holding l Ordinary Share Company Number 10650553 Registcrcd Office: 2nd Floor, Macgregor Office Suim Jolly Tar Lanc, Carniarthen, SA313LW Page 26