Company Number: 4409137 THE INCREDIBLE DESIGN COlVtPANY (LIMITED BY GUARAiYfEE) DIRECTORS, AIYD TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Charity Number . 1093222 BEGBIES Chartered Accountants 9 Bonhill Street London EC2A 4DJ
THE INCREDIBLE DESIGN COIVIPANY CONTENTS Page No. Legal and Administrative Inforniation Report of the Trustees and Directors 2&3 Statement of Financial Activities Balance Sheet Notes Forming Part of the Financial Statements 6-11 Accountant's Report 12
THE INCREDIBLE DESIGN COMPANY LEGAL AND ADMINISTRATIVE INFORMATION Directors and Trustees C S Jones J R Smith R G Ruth¢rford P R Sentance S Francis Secretary C S Jones Registered Office The Incredible Design Company Ground Floor King's Court East Grinstead Road North Chailey Lewes East Sussex BN8 4DH Bankers CAF Cash Limited PO Box 289 West Malling Kent ME19 4TA Accountants Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ Charity Registration Number 1093222
THE INCREDIBLE DESIGN COMPANY REPORT OF THE TRUSTEES FOR THE YEAR EfqDED 31 AUGUST 2024 The trustees, who are also directors of the charity for the purposes of the Coinpanies Act, present their annual report togethei. with the accounts of the charity foy the year ended 31 AugLlSt 2024. The finanoial statements comply with the Charities Act 201 I, tlie Companies Act 2006, the Memorandum and Articles of Association and the Statement of Re¢oinmeiided Practice (SORP) applicable to charities preparing theii. accounts in accordance with the Financial Reporting Standard (FRS102) (effective l January 2019). Objects of the Charity, Principal Aetivities and Organisation of our Work The charity Is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The purposes of the charlty and its principal activities are: Providing and pi'omoting opportunities for people with disabilities (particularly but not exclusively young people with disabilities) to develop their skills and capacities. b) Providing and promoting vocational training and employment opportunities for people with disabilities, particularly but not exclusively young people with disabilities. The trustees have taken the charity commission public benefit guidance into account when making any decision to which it is relevant. The Incredible Design Company (IDC) is inanaged on a day to day basis by a full time Centre Director - with overall responsibility for the centre with emphasis oil the special needs aspect of the operation, assistcd by a full tiine Deputy Centre Director able to ¢over the special needs aspect of the centre's running wlieii required but with an emphasis upon the product desi, production and product developijkent aspects. Care support for disabled staff is provided by a part time Care Assistant. Additional administration support is provided by a part tiine Admin Assistant. Further support is provided by the trustees who, in addition to executing their trustee responsibilities support the staff of the centre on a day to day requirement as well as being involved in fund raising activities. Developmen( Activities and Achievements this Year Anotlier successful year for the charity with yet another increase in sales turnover from the previous year. The teain achieved an amazing total of £144,586 in sales for the period with demand for our products stronger than ever before. W¢ identlfied new, groundbreaking equipment that would streamline oui. printing process and open up cliannels for supplying other printers on a trade basis. The new Direct-to-Film (DTF) printer funded by The Mark Benevolent Fund has had a huge impact allowing our disabled team to output their work with much less support, removing as it does the need for post printiiig tasks that they are unable to perform. The addition of a trade print service to our product line has been a success with three local printers using us to supply them with their ti'ansfers in the year. One is ordering large quantities for their own use, helping to boost our top line. (2)
THE llYCREDIBLE DESIGN COMPANY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) Development, Activities and Achievements this Year (Continued) However, we are facing a huge challenge in the Goming months as we have just been informed that our lease will not be renewed at Chailey, so we will need to seek new acoommodation for the charity by February 2025. Any unit that we can find is likely to require considerable modification for the use of our clientele and uAust be in the locality for ease of access for both staff and customers, Reserves The receipt of the combined legacy and major donation from 2013-14 Continue to support us and provide what the trustees consider to be adequate fimds from which to POSLtively pui'sue our development targets. In summaryj these are to break even on our revenue account, to provide a service for 6 or rnore full time equivalent places and release finances for both the sponsorship of places. The trustees have chosen to earmark some of the Unrestricted Funds for particular usage, These are shown as a Desiated Fund with money set aside to support sponsoiship of places in the centre. The geneTal fund of £IOOk represents free reserves to cover 6 months expenditure of tbe operation. The remaining funds are invested into savings deposit accounts with the inteiest gained used to support annual shortfalls. Directors and Trustees All directors of the coinpany are also trustees of the charity, and there are no other ts'ustees. The trustees serving during the year wei'e as follows: C S Jones JRSmith R G Rutherford P R Sentance S Francis Risk Management The trustees actively T¢view the major risks which the charity faces on a regular basis. This report is prepared in accordance with special provisions relating to small companies within part 15 of the Companies Act 2006. This report was approved by the board of directors and trustees on 4 April 2025 and signed on its behalf. C S Jones Trustee (3)
THE INCREDIBLE DESIGN COMPANY STATEIVIENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Summary income and expenditure account 2024 Unrestricted 2023 Total Restricted Total General Fund Designated Funds Notes Income from:. Atteiidance fees Donations and legacies Trading activities Investment income Other Incoine Total income 53,644 14,313 144,586 14,043 53,644 29,253 144,586 14,043 53,129 74,103 129,072 5,253 5,940 9,000 226,586 5,940 9,000 241,526 261,557 Expenditure on:_ Raising funds Charitable activities 67,628 169,014 236,642 67,628 65,301 174,612 182,956 242,240 248,257 5,598 5,598 Total expenditure Net incorne (10,056) 342 9,000 (714) 13,300 Transfer between funds 10,056 (1,056) (9,000) Other recognised gains and losses (Losses) on investment assets Net movement in fuDds (2,693) 10,607 (714) (714) Reconciliation of funds Total funds brought forward Total funds carried forward 100,000 100,000 260,812 260,098 360,812 360,098 350,205 360,812 (4)
Company Number: 4409137 THE INCREDIBLE DESIGN COMPANY BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notes Fixed assets Tangtble assets Investments 15,386 240,000 255,386 33,331 10 Total fixed assets 33,331 Current assets Stock DebtOTS Cash at bank and in hand Total current assets 3,075 14,614 97,790 115,479 4,645 17,749 3L6,238 338,632 12 Creditors Amounts falling due within one year Net current assets 13 (10,767) (11,151) 104,712 £ 360,098 327,481 £ 360,812 Net assets The funds of the charity Urjrestricted funds - General fid Designated funds 100,000 260,098 360,098 100,000 260,812 360,812 Restricted fimds 14 £ 360,098 £ 360,812 For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 I'elating to small companies. The members have not required the company to obtain an audit in accoidance with section 476 of the Companies Act 2006. The directors acknowledge their Tesponsibilities for complying with the requirements of the Act wAth respect to accounting records and the preparation of accounts. These accounts have been prepad in accordance with the provisions applicable to companies subject to the small companies regime, The accounts were approved by the board of directors on 4 April 2025 and signed on its behalf esJ . Dli'ectol, And Th'ustee C S Jolie8 (5)
THE INCREDIBLE DESIGN COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 i) Accounting Policies ( a ) Basis of aeeounting The accounts have beeii prepared under the historical cost conveiition as modified to include investments at valuation. The accounts have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019,the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011, and the Companies Act 2006. The trustees consider there are no material uncertainties about the charitable company's ability to continue &8 a going concern. ( b ) Income Voluntary income and donations are incliided in incoming resources wheii they are receivable, except when donors, conditions have not been fulfilled, then the income is deferred. Tli¢ incoine from fundraising ventures is shown gross, with the associated costs included in the cost of raising funds. Incom¢ froin government and other grants, whether 'capital' grants oi revenue, grants, is recognised when the charity has entitl¢ment to the funds, any performance conditions attached to the grants has been met, it is probable that the income will b¢ received and the nount can be measured reliably and is not deferred. ( c ) Expenditure Expenditure is classified under the following activity headings:. Costs of raising funds comprise tlie direct costs of trading. Costs of chai'itable activities includes th¢ overhead costs of the organisation and the governance costs. ( d ) Tangible fIxed assets Fixed assets are capitalised at cost. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Equipment 250/0 Straight line basis ( e ) Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. ( f ) Fund accounting Unresti'icted funds are those that are available for use at the trustees, discretion in furtherance of any of the objectives of the charity. Designated funds are unrestricted funds set aside at the discretion of the trustees for specifi purposes. Restricted funds are tliose donated for a speclfic purpose. (6)
THE INCREDIBLE DESIGN COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) i) Accounting Policies (Continued) ( g ) Governance Costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. The costs include those relating to accountancy services, insurance and investment portfolio charges. 2) Donations and Legacies 2024 Total 2023 Total Unrestrieted Restricted Mi. & Mrs Willlains Tek Express Kalimex GMIFC Ltd Uckfield Framing Anton Jurgen Charitable Trust Sussex Community Foundation Didymus Garfield Weston Foundation Edward Gostling Foundation The Mark Benevolent Fund The Goldberg Memorial Ti'ust Firle Hill Climb Chalk Hill Trust Individual Donations under £K,000 1,460 7,680 3,240 1,200 1,200 1,460 7,680 3,240 1,200 1,200 5,000 17,680 3,240 1,700 1,200 5,000 10,000 5,000 10,000 5,000 16,950 4,000 4,000 1.521 4,000 4,000 1,473 29,253 1.473 20,253 1.812 74,103 9,000 3) Income from trading aetivities 2024 2023 Sale of printed promotional items and clothing 144,586 129,072 4) Investment Income 2024 2023 Dividend incoine Interest receivable on cash deposits 318 13,725 14,043 3,326 1,927 5,253 (7)
THE INCREDIBLE DESIGN COIVIPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUlI D) 5) Otber Income 2024 2023 Council grants 6) (a) Expenditure on raising funds Direct costs of sale of printed promotional items and clothing . Opening stock Purchases Less: closing stock 2024 2023 4,645 64,132 (3,075) 65,702 1,926 67,628 5,736 58,210 (4,645) 59,301 6,000 65,301 Fund Raising Costs 6) (b) Net ineome from activities general funds 2024 2023 Income from activities (Note 3) Cost of generatiiig funds (Note 6a) 144,586 (67,628) 76,958 129,072 (65,301) 63,771 7) Charitable activities 2024 2023 Overhead costs Staff costs (Note 8) Rent and Service Charge Light and Heat Telephone Repairs and maintenance Postage and stationery Advertising & promotion Printing costs Coinputer expenses Depreciation Other adininistrative costs 121,457 16,250 1,738 617 913 1,574 362 1,783 3,391 17,945 3,918 169,948 120,341 15,917 2.276 664 3,901 2,689 1,614 2,086 4,660 19,888 4,235 178,271 Governance costs Accountancy Legal Fees Insurance 1,500 206 2,958 4,664 1,625 400 2,660 4,685 Total charitable activities 174,612 182,956
THE INCREDIBLE DESIGN COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR EIqDED 31 AUGUST 2024 (CONTINUED) 8) Staff costs 2024 2023 Wages and salaries Social security costs Pension costs 115,244 5,925 288 111,506 6,029 2,806 120,341 121,457 The average weekly number of staff eillployed, calculated as full time equivalents during the period was as follows: 2024 2023 Direct charitable work No employee received reinuneration of more than £60,000 (2023.. Nil). 9) Tangible fixed assets Equipment Cost At I Septembei. 2023 Additions 167,940 At 31 August 2024 167,940 Depreciation At I September 2023 Charge for the Year At 31 August 2024 134,609 17,945 152,554 Net book value At 31 August 2024 At 31 August 2023 15,386 33,331 (9)
THE INCREDIBLE DESIGN ColANy NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 10) Fixed asset investments 2024 2023 Market value at I September 2023 Disposal Proceeds in Year Realised (deficit) on Disposals Cash deposits classified as fixed asset investment Market value at 31 August 2024 94,801 (92,108) (2,693) 240,000 240,000 Historical cost at 31 August 2024 240,000 Investments are held primarily to provide an investment return for the charity. The fixed asset investrnent comprises a proportion of fixed term cash deposits which the trustees consider will be re-invested iii the longer tem when the current terin matures in the next year. I l) Debtors 2024 2023 Trade debtors Prepayments and accrued income 8,164 6,450 14,614 12,386 5,363 17,749 12) Cash At bank Includes fixed term bank deposits of £22,257 which represents a proportion of the total such d¢posits of £262,257 irlaturing within one year which the trustees consider may be required towards charitable expenditure, The balance of £240,000 has been treated as a fixed asset investment, see note l O. 13) Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Accruals and deferred income 7,366 1,801 1,600 10,767 2,494 3,586 5,071 11,151 (10)
THE INCREDIBLE DESIGN COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED) 14) Movement in funds At I Sept 2023 Transfei's Between Funds Gains and Losses At 31 Aug 2024 This year Income Expenditure Unrestrieted funds - General nd loo,000 226,586 (236,642) 10,056 loo,000 Designated funds . Sponsorship fund Capital development 1,929 258,883 360,812 5,940 (5,598) 2,271 257,827 360,098 (1,056) 9,000 232,526 (242,240) Restricted funds Salary Support Equipment grants 9,000 (9,000) 9,000 (9,000) b) Previous year At I Sept 2022 Transfers Between Funds Gains and Losses At 31 Aug 2023 Income Expenditure Unrestricted funds General fund 100,000 223.447 (240,759) 17,312 i 00,000 Designated funds '. Sponsorship fund Capital development (1,733) 251,938 350,205 11,160 (7,498) 1,929 258,883 360,812 9,638 26,950 (2,693) (2,693) 234,607 (248,257) Restricted funds Salary Support Equipment grants 5,000 21,950 26,950 (5,000) (21,950 (26,950 15) Trustees expenses and remuneration The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind (2023: £Nil). No expenses were paid to the trustees in the year (2023.. £Nil). During the year there were no other related party transactions (2023: £Nil) 16) Other financial commitments 2024 2023 Total future minirnum payments under non cancellable operating leases 15,000
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INCREDIBLE DESIGN COMPANY report to the charity trustees on my exainination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Coinpany (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requii'ements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your cliarity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirin that no matters have come to my attention in comiection with the examination giving me cause to believe: accounting records weiE not kept in respect of the Company as required by section 386 of the 2006 Act; or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a'true and fair, view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the inethods and principles of the Statement of Recoinmended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)), I have no concerns and have come across no other matters in connection witli the examination to which attention should be drawn in this report in order to ¢nabl¢ a proper understanding of the accounts to be reached. Signed: Clyistopher Pexton, FCA Begbles, Chartered Accountants 9 Boithill Street, London EC2A 4DJ Date.. 8 April 2025