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← Deafax

2023-03-31-accounts

Company Number: 04586634 Charity Number: 1095398

DEAFAX

Report and Accounts

for the year ended 31 March 2023

DEAFAX

Report and Accounts

for the year ended 31 March 2023

INDEX

Page Number

1 to 6 Trustees’ (Directors’) Annual Report
7 Independent Examiner’s Report
8 Statement of Financial Activities
9 Balance Sheet
10 Statement of Cash Flows
11 to 15 Notes forming part of the Accounts

DEAFAX

Company Information

Company Number: 04586634

Charity Number: 1095398

Registered Office

167-169 Great Portland Street 5[th] Floor London W1W 5PF Trustees Mr T P A Waller Ms S Banks Dr K J W Rees Ms S Bowen Mr M Willis Mr P W Bradford Ms V Thorvardarson Accountants Dickinsons Chartered Accountants Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG Bankers HSBC UK Bank Plc 26 Broad Street Reading RG1 2BU

DEAFAX

Trustees’ (Directors’) Annual Report

For the year ended 31 March 2023

Trustees’ Annual Report

The trustees present their report and the unaudited accounts for the year ended 31 March 2023.

The accounts have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 as amended by Charities Act 2022, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure, Governance and Management

Deafax is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 November 2002 (amended 15 April 2013). The company became a registered charity with the Charities Commission for England and Wales on 14 January 2003.

Recruitment and appointment of new trustees/directors

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles of Association are known as members of the charity.

Recruitment is done through a variety of methods -word of mouth and personal recommendation; via partner organisations; employee volunteer schemes and advertising. Trustees are selected for what they can contribute to Deafax.

Potential trustees are scrutinised by the Board and Chief Executive before being proposed as a trustee. Trustees can join the Board between AGMs, but they are formally appointed at the next AGM. Trustees are appointed for a term, not exceeding 3 years, at the end of which they must retire, but are then eligible for reappointment immediately.

Trustees are required to attend four quarterly trustee meetings per year including the AGM. These meetings are attended by the trustees, the Chief Executive, and other senior managers or directors as and when required.

We have 7 Trustees. All give their time voluntarily and receive no benefits from the charity.

Sub-Committees

Deafax has one sub-committee who report back to the Board. This ensures that decisions made under delegated powers can be ratified by the board in due course.

Salaries Working Group (SWG) is the group responsible for ensuring that the Chief Executive is appraised and also considers pay reviews proposed by the Chief Executive and makes recommendations to the Board where appropriate.

A newly formed investment sub-committee is responsible for monitoring the charity’s investments as well as appointing an investment manager to administer the investments.

Governance

The overall strategic direction of the charity is determined by the trustees of Deafax. The role of the trustee is one of guidance and governance. They are responsible for overseeing the activities and finances of Deafax and ensuring that the best interests of the charity are protected and promoted at all times. They are also responsible for ensuring any income is spent fairly and appropriately. Included in their responsibilities is the setting of the strategic direction of Deafax, with considerable input from the Chief Executive and, where appropriate, staff in general and maintaining the long-term viability of the charity.

The Board of trustees should aim to have at least 6 members, but no more than 12. The aim is to have approximately one third of the Board deaf or hard of hearing, including ideally the Chair or the Vice Chair. The Board is defined to be quorate when there are at least three appointed trustees in attendance.

The Chief Executive is responsible for the day-to-day management of Deafax affairs and for implementing policies agreed by the Board as part of four main functions, namely:

  1. Operations - this includes day-to-day management of all the programmes, services and products produced and delivered by Deafax.

Page: 1

DEAFAX

Trustees’ (Directors’) Annual Report

For the year ended 31 March 2023

  1. Research - the Research, Innovation and Development Unit undertakes the majority of our research backing up current project work and generating ideas for future projects.

  2. Finance - ensuring all financial transactions are complete, managed, controlled and reported upon and the statutory accounts for independent examination are completed.

  3. Fundraising and Marketing – a dual role involving the growing of both restricted and unrestricted funding, along with the marketing and PR of Deafax.

Objectives and Activities of the Charity

Charitable Objectives

The charitable objectives for which the charity was established are as follows:

The main powers that Deafax has under its charitable governing document (its company Memorandum & Articles of Association) are to:

Charitable Activities

Deafax is a charitable company with a mission to “Empower deaf people to lead fulfilling lives through the use of information communications technologies”. The charity does this by providing training for transferable life skills, which support deaf people through times of transition and enhance education and employment opportunities. In pursuance of its overall goals, Deafax undertakes the following activities:

Public Benefit

All the charity’s activities are undertaken to further its charitable purposes for the benefit of the public. The trustees have taken The Charity Commission’s specific guidance on public benefit (contained within the guidance publication “The Advancement of Education for Public Benefit”) into consideration in preparing this statement on public benefit.

Trustees’ Assessment of Public Benefit

The trustees use an outcomes focused approach in monitoring the progress of the charity against the delivery of its activities for the benefit of the public. This means that collection and evaluation of information is embedded in all our work from the outset, ensuring that this process is relevant and valuable. Activity is timetabled with deadlines and expected outcomes and progress reviewed. The timely conclusion of individual projects, along with the subsequent cessation of the associated funding is monitored. Consideration is given to how we deal with stakeholders, funders, media and other bodies. Regular meetings and quarterly reports to trustees and funders ensure that the impact of this work is monitored and outcomes disseminated.

Benefits and Beneficiaries

In accordance with its charitable objectives, Deafax provides resources, face-to-face training, consultancy, information and awareness to groups of deaf and hearing people within education, health, employment, travel, leisure and the civic sector. The charity has provided support to and worked or consulted with 28 organisations and schools, affecting over 470 deaf and hearing people. The charity has also dedicated a significant portion of time seeking contracts to broaden the implementation of the Signly app, consolidating, in particular, partnerships in the travel industry.

Page: 2

DEAFAX

Trustees’ (Directors’) Annual Report

For the year ended 31 March 2023

The training delivered by Deafax meets the linguistic and cultural needs of deaf people, empowering them in making healthy positive and informed decisions about their lives. The charity’s principal beneficiaries are deaf and hard-of-hearing people of all ages across the UK. However, we also support those who live and work alongside them or who are likely to come into contact with them, for example, healthcare service providers, employers, teachers and those in the travel, leisure and the civic sectors. The charity provides bespoke deaf awareness training and seeks to challenge social attitudes which can limit deaf people’s opportunities and prevent them from accessing services and facilities.

As recipients of a legacy in January 2023 from Pam and Harold Silver, Deafax established a memorial fund in their name. This fund will further the work they undertook during their lives. The fund will support research, projects, and activities that improve access to education for those disadvantaged by deafness, poverty, special needs/disability, ethnicity, gender or other factors.

Risk Assessment

In order to comply with the Statement of Recommended Practice for Charity Accounts (FRS 102) a review of the major risks to which the charity is exposed and the systems that have to be established to mitigate those risks has been carried out.

The trustees have developed a comprehensive risk management strategy which involves a regular review of the key risks faced by the charity and the establishment of systems and procedures to address their potential impact and likelihood of occurrence. This procedure includes identifying and implementing ways to mitigate these risks. As we are almost completely reliant on fundraised income we take into account changing economic, policy and social conditions that may affect individual supporters, corporate and major donors, and statutory and trust funders. The reviews are documented and are ongoing with trustees updating and refining the assessment on an annual basis.

We recognise the importance of safeguarding children and young people in all areas of our work, and in activities organised by affiliated groups. The charity has a Safeguarding policy which applies to all staff and volunteers.

We have a Data Protection Policy in place, which ensures only authorised access to personal details. We protect our IT systems from malicious attack and unauthorised access and misuse and hold a limited amount of personal information about our beneficiaries and supporters.

Financial risks are reviewed as part of the risk management strategy. In the instance of gaps in funding, contingency plans are put into action well in advance. These involve the cutting of overheads and core costs. Every effort is made to sustain the charity as a going concern albeit run in a voluntary capacity.

Achievements and Performance

We continue to play a prominent role in shaping the national agenda on sexual health education and service provision in the SEN (Special Educational Needs) sector, collaborating as board members on the Sex Education Forum with the National Children’s Bureau. We disseminate our findings in relation to the deaf community, plus recommendations at the Sex Education Forum and at the All Party Parliamentary Group (APPG) on Sexual and Reproductive Health and Disability.

Deafax continues to deliver training on a range of topics but especially sexual health covering Reproduction, Consent, Health & Wellbeing, Lifestyles, Substance Misuse and Peer Relationships. Our training supported and guided a diverse range of vulnerable young deaf people in living safer, healthier and more informed lives. We have also provided training, support and advice to the NHS - Social Services and CAMHS (Child and Adolescent Mental Health Services), and worked or had contact with pupils in 20% of the Schools for the Deaf as well as those in Hearing Support Units. We have supported teachers to increase their capacity to provide accessible Relationship & Sex Education (RSE) in a deaf-friendly way.

Collaboration on the Signly App continues apace as we work to deliver a nationally significant movement towards equality of access to information for Deaf people. Deafax was a research partner with Arriva Rail London. We were responsible for sourcing and recruiting diverse groups of deaf and hard of hearing participants to help inform improvements in passenger journeys. Our Signly App formed part of the earlier stage of this research.

Page: 3

DEAFAX

Trustees’ (Directors’) Annual Report

For the year ended 31 March 2023

Future Developments and Strategies

Our longer-term vision remains to devise and implement strategies for developing a sustainable source of income that will reduce our reliance on charitable donations and enable us to grow.

Supporting Deaf and hard of hearing pupils, their teachers in schools and hearing support units remains a key area of our activities. We want to deliver more tailor-made training on a range of topics but especially sexual health and a range of topics under Personal, Social, Health and Economic (PSHE).

We want to continue our efforts to inform and mobilise the train operating companies (TOCs) in improving their services to Deaf passengers.

A new fundraising strategy which features the recent endowment is currently being implemented. The aim is to generate additional income to enhance the already significant legacy enabling this to build a long-term sustainability to Deafax’s work.

Fundraising and Designated Funds

A generous gift from the children of Harold and Pam Silver in the form of a legacy provides a new avenue of income generation. Whilst the majority of the gift is in the form of an endowment “The Pam and Harold Silver Memorial Fund”, in agreement with the executors of the estate donating the fund, a proportion has been made available immediately to enable Deafax to develop existing partnerships, form new ones and match fund projects, as well as revise and improve our existing resources. The endowment portion will then be invested at the request of the executors of the estate, with the income generated to be put towards further projects and partnerships supporting research and activities which improve access to education for those disadvantaged by poverty, disability, ethnicity, gender or other factors.

Deafax’s fundraising strategy now includes a specific match-funding strand looking at how the endowment funds can add value to a range of projects and activities.

Financial Review

The Statement of Financial Activities for the year is set out on page 8 of the accounts.

Income in the year includes the £500,000 gift from “The Pam and Harold Silver Memorial Fund” in the form of £450,000 (2022: £nil) endowment fund and a £50,000 unrestricted donation.

We are very grateful to those people who have made a donation to Deafax during the year and to our regular individual donors. We continue to seek new regular donors to build up unrestricted reserves to fund our core activities.

Reserves Policy

At the year-end total reserves amount to £510,412 (2022: £15,372), consisting of unrestricted reserves amounting to £60,412 (2022: £15,372) and endowment funds amounting to £450,000 (2022: £nil).

The trustees conduct an annual review of the appropriate level of unrestricted reserves which are not restricted to any particular purpose and which are therefore freely available. The exposure of Deafax to the risk of any significant loss of income, or unforeseen cost, is also considered.

Reserves are needed to alleviate the funding gaps between spending on projects and events, and receiving resources through sponsors and donors. We are both aware and understand the current and potential future impact of trends in grant giving in relation to the prevailing economic circumstances.

The Charity Commission advises that there is no target figure that suits all charities and that a baseline unrestricted reserve should be fixed at a level that suits the individual charity. In this context, the trustees believe it is both prudent and crucial to ensure the charity has sufficient funds to operate. Therefore, in discussion with our trustees, we have set our baseline unrestricted reserves to be no less than 2 months’ non-project related expenditure.

Page: 4

DEAFAX

Trustees’ (Directors’) Annual Report

For the year ended 31 March 2023

Investment Policy

Under the Memorandum and Articles of Association the charity has the power to invest as the trustees wish under the advice of a financial expert. The trustees, having regard to liquidity requirements, have, to date, operated a policy of keeping available funds in interest bearing savings accounts. In view of the donations received during the year an investment sub-committee has been formed. This committee has developed a written investment policy and a rigorous process is being carried out in order to appoint investment managers. During the AGM, the sub-committee will share their findings with rest of the trustees and agree a way forward with the intention of appointing an investment manager by the end of the next financial year.

Statement of Trustees’ Responsibilities

The trustees, who are also the directors of Deafax for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

In preparing these accounts the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the company and to enable them to ensure the accounts have been properly prepared in accordance with the provisions of the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Legal and Administrative Information

The company is limited by guarantee and has no share capital. Under the provisions of the company’s memorandum of association, each member would be required to contribute a sum not exceeding £1 for the payment of the debts of the company in the event of a deficiency of assets on a winding up of the company.

The company is registered in England and Wales with company registration number 04586634 and is a registered charity under the Charities Act 2011 as amended by Charities Act 2022 with registration number 1095398.

Honorary President and Vice Presidents:

Dr Vinton Cerf (Honorary President) Maestro Vladimir Ashkenazy Mr Nicholas Purnel QC Mr Graham Wallace Mrs Lucy Woods Dr Kate Ellison-Bourne Dr Les James Mr Asid Iqbal MBE

Trustees and Directors

The trustees who served during the year were:

Mr Terry Waller (Chairman) Dr Kirsty Rees (Treasurer) Mr Martin Willis Ms Simone Banks Mr Phil Bradford Ms Veronica Thorvardarson Ms Sue Bowen

Page: 5

DEAFAX Trustee5' (Directors ) Anttual Report For th¢ year ended 31 March 2023 Key Porsommel Ms Hclen L￿￿￿10￿￿ MrKcn Cartsr Ms DÈbiiie Trl¢)ry Ms Rubbgnu AurnN8zeb-Twiq MTQvais Khan MT Wiu Sid¢bottoJn ChiefExcLuliYe Found¢r AdnTinistrator & Events C.oordin4lor Le4d 1'rginer Grdphio Designer Musi¢ AdvFsor The Directots have thken advantage of stti10￿ 477(2) of thecompantes Act 2006 whl¢lL¢x¢mpts the company lTrom ihe requSremellt tt> have th¢ accounts audit¢d. The C￿￿pathy 1$ rcquir¢d to have 4n Indey¢ndeot EX4mLi￿1[0A iii accordance with the pMi8ioFJ8 in the Chariliu Act 2011 ay amended by Chariti¢$ A¢¢ 2022. Aec4yrdinEty. Natslie Swdlt¢m FCA of Dickinsons, Charttred Arcountwil6 &ppoi4ted ltsdepFnd¢ut Exaininer, By Order of ih¢ lknard.. MJUJ 13.11. 2023 tr Tgny Wal Trusteo and Direet•r Datc Pa8e'. 6

DEAFAX Independent Examiner’s Report to the Trustees of Deafax

for the year ended 31 March 2023

I report to the charity trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity’s trustees (who are also the directors of the company for the purpose of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act”)

Having satisfied myself that the accounts of the Company are not required to be audited for this year under part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of charities Act 2011 as amended by Charities Act 2022 (“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 as amended by Charities Act 2022).

Independent examiner’s statement

The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Natalie Spalton FCA Dickinsons Chartered Accountants Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG

Date: 1 December 2023

Page: 7

DEAFAX

Statement of Financial Activities (Statement of Income and Retained Earnings)

for the year ended 31 March 2023

Incoming resources from:
Notes
Donations and legacies
2
Charitable activities
3
Total Incoming Resources
Resources expended from:
Costs of charitable activities
4
Total resources expended
Net movements in funds
9-10
Total Surplus at 1 April 2022
Total Surplus at 31 March 2023		 2023
Unrestricted
Funds
£
50,300
3,735
54,035
(8,995)
(8,995)
45,040
15,372
60,412		 2023
Endowment
Funds
£
450,000
-
450,000
-
-
450,000
-
450,000		 2023
Total
Funds
£
500,300
3,735
504,035
(8,995)
(8,995)
495,040
15,372
510,412		 2022
Unrestricted
Funds
£
2,657
-
2,657
(3,987)
(3,987)
(1,330)
16,702
15,372		 2022
Total
Funds
£
2,657
-
2,657
(3,987)
(3,987)
(1,330)
16,702
15,372

The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.

The notes on pages 11 to 15 form part of these accounts.

Page: 8

DEAFAX Company Number: 04586634 Charlty Number: 1095398 B41an¢¢ Sheet 2s a131 Mreh 2023 r40trfy 2023 2022 Fls¢11 A65ots Tansible fiA¢d n&set3 C4rr¢n¢ Awl$ Cath 01 bank8nd in hand 515,956 18,JOS 515,956 CredIt￿r$. Ajllounts fallin8 due withill one y￿r 18,503 {5,544) (.3,133) Current A51¥ts 510,412 15,372 Total Aucts knss XJaMii1¢s SIOA12 15,372 d$ of tlie ChaAaly I1nTeStri¢i￿ In¢om¢ Fund5 Endowment rur2d¥ 611,412 450,000 io 15,372 '•l¥l ehArliy Vuads sioAI2 IS,372 The¢o]t]pstty is¢utiiled to exenipsioo from auditunderSeclion471oftheCon)panieyAct21K16. ￿l011￿8108￿￿lI ¢omponi¢s, forihe y¢ar ¢nd¢d 31 March 2023. Thenmbers liqve oot r¢quired iho compAlly to oblaillAu ￿dlI of its f￿￿￿¢191 stst¢m¢llts for lh¢ Y¢8rend￿ 31 Marth 2023 In #cwtdaw¢ wtth SeL'lton 476 of th¢Compani¢s A¢t 21)06, Thedir¢oI0￿ a¢knowld8e thclrtr4￿￿lbJllll￿ for.. (a) ihyt ihc comyaay kf¢ps T¢¢ord8wbich cvmpty w'itlj SedioJJs 3L¢6 387 thk. CompaniL¥ Act 2006 aiid (b) PWP4riT￿. fJnAn¢i¥l $tatcJnents 1Vh￿r￿ 8ivE a tnE¢ and fair vicw. of the state of aff#its of iho rompany as at lh¥ ¥NI of e4¢ch tinanci91 year tmd of its wrplus QT deficit fur¢Bch lin4nci8I year rn twonlanL'¥ With requiTeinrnL5 ol'section 394 and 395 and which thheThYis¢ c(4nply with th¢ Tequlr¢m¢nts ofihe Compan1¢8 A¢1 2(M)fj r¢latip8 ts) fI￿an¢￿] slalom45ntS, 50 far ?5 appli¢JblF Éo ihe c(7mpany. Thv financial stat¢m¢lltshav¢ beenpr4)B￿l in A¢¢Ot&ll￿wIth theprovisions of Part 15ofthe C(>mpo11I￿A￿2006r¢l4t1lj8 ¢0 sn7411 ¢ompanie$. 13. 11.2 Thcfinan¢ial sratcmeHt5 w¢r¢ app￿Vrd by ihe Board of DiTedors on .. . . and werr si8ned its behalf by". ler. Chainna Tre iioles onpages 11 o J5fornporl oJ'ihe.%¢ aeeounis. Pag¢: 9

DEAFAX

Statement of Cash Flows

for the year ended 31 March 2023

Notes
Cash flows from operating activities
Cash generated by operations
14
Net cash inflow from operating activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
15		 2023
£
£
497,451
497,451
497,451
18,505
515,956		 2022
£
£
(135)
(135)
(135)
18,640
18,505		 2022
£
£
(135)
(135)
(135)
18,640
18,505
(135)
18,640
18,505

The notes on pages 11 to 15 form part of these accounts.

Page: 10

DEAFAX

Notes forming part of the Accounts

for the year ended 31 March 2023

1 Principal accounting policies

Company information

Deafax is a private charitable company limited by guarantee, incorporated in England & Wales. The registered office and trading address is at 167-169 Great Portland Street, 5th Floor, London, United Kingdom, W1W 5PF.

Accounting convention

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with; the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011 as amended by Charities Act 2022. The accounts include the results of the company’s operations, which are described in the Trustees’ Annual Report, all of which are continuing.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Incoming resources

All incoming resources are recognised in the Statement of Financial Activities when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from grants and other donations which are of a voluntary nature are recognised when the charitable company has been notified in writing of both the amount and settlement date and receipt is probable. Grants received for future accounting periods are deferred. Endowment funds are recognised on the Statement of Financial Activities in the period the gift is made.

Income from grants, and similar income where conditions for payment are linked to performance, are recognised to the extent that the charity has met the recognition criteria.

Income from charitable trading activities is recognised when the related goods and services have been completed and dispatched.

Resources expended

Expenditure is accounted for on an accruals basis, recognised when a liability is incurred, and classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held with banks and other short term liquid investments with maturities of three months or less.

Page: 11

DEAFAX

Notes forming part of the Accounts

for the year ended 31 March 2023

1 Principal accounting policies (Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Fund accounting

Unrestricted funds are those which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes.

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity and is to be spent in line with the conditions imposed.

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

Tangible fixed assets

Tangible fixed assets are held at cost less depreciation. Depreciation is recognised so as to write off the cost less estimated residual value of each asset over their useful lives on the following basis:

Funded equipment 100% on year of acquisition Computer equipment 33% on cost Office equipment 33% on cost

Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Page: 12

DEAFAX

Notes forming part of the Accounts

for the year ended 31 March 2023

2 Donations and legacies
2023 2022
£ £
Unrestricted donations and grants
Donations 300 2,657
The Pam and Harold Silver Memorial Fund 50,000 -
_ _
50,300 2,657
Endowment funds
The Pam and Harold Silver Memorial Fund 450,000 -
_ _
500,300 2,657
======= =======
3 Income from charitable activities
2023 2022
£ £
Deaf friendly training and supplies 3,735 -
======= =======
4 Resources expended: charitable activities
2023 2022
Direct activity costs: £ £
Workshop and training 4,952 1,950
Support costs:
Consultancy fees 210 210
Computer and website costs 192 763
Insurance 101 101
Printing, postage and stationery 260 272
General expenses 13 13
Bank charges 125 104
Travel and meeting room hire 442 574
Governance:
Independent examination 2,700 -
______ ______
8,995 3,987
======= =======
5 Net movement in funds:
Net movement in funds is stated after charging:
2023 2022
£ £
Independent Examiner’s remuneration 2,700 -
======= =======

5

6 Employees

The average monthly number of persons employed by the company during the year was 7 (2022: 7)

No individual employee’s total benefits exceeded £60,000 during the current or prior year. No trustees’ have been paid any remuneration or received any other benefits during the current or prior year. No trustees’ expenses have been incurred during the current or prior year.

The charity has a pool of general volunteers who are called upon should they be required.

Page: 13

DEAFAX

Notes forming part of the Accounts

for the year ended 31 March 2023

7 Tangible fixed assets

Computer Computer Office Funded Total
equipment equipment equipment
Cost
At 1 April 2022 1,102 2,093 56,347 59,542
Disposals in the year (1,102) (2,093) (56,347) (59,542)
_ _ _ _
At 31 March 2023 - - - -
======= ======= ======= =======
Depreciation
At 1 April 2022 1,102 2,093 56,347 59,542
Depreciation eliminated on disposal (1,102) (2,093) (56,347) (59,542)
_ _ _ _
At 31 March 2023 - - - -
======= ======= ======= =======
Carrying amount
At 31 March 2023 - - - -
======= ======= ======= =======
At 31 March 2022 - - - -
======= ======= ======= =======
8 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 3,133
Other creditors 184 -
Accruals and deferred income 5,360 -
__ __
5,544 3,133
======= =======
9 Unrestricted funds
At 1 Net At 31
April Movement March
2022 in Funds 2023
£ £ £
General Fund 15,372
 (4,960) 10,412
The Pam and Harold Silver Memorial Fund -
 50,000 50,000
__
 __ __
15,372
 45,040 60,412
======= ======= =======
10 Endowment funds
At 1 At 31
Restricted Use April
Funds		 Investment March
2022
Received		 Expenditure Income 2023
£
£		 £ £ £
Support costs -
450,000		 - - 450,000
_____ ______ ______ ______ _____
-
450,000		 - - 450,000
=====
======		 ====== ====== =====

Endowment funds were received in the year in relation to a donation from The Pam and Harold Silver Memorial Fund. The income from the fund is to be spent on supporting research and other projects and activities which improve access to education for those disadvantaged by Deaf, poverty, disability, ethnicity, gender or other factors.

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DEAFAX

Notes forming part of the Accounts

for the year ended 31 March 2023

11 Called up share capital

The company is limited by guarantee and has no share capital. Under the provisions of the company’s memorandum of association, each member would be required to contribute a sum not exceeding £1 for the payment of debts of the company in the event of a deficiency of assets on a winding up of the company.

12 Control

The charity has been controlled throughout the year by the trustees, who are identified in the company information.

13 Transactions with trustees and related parties

None of the trustees have been paid any remuneration or received any other benefits from employment with the Charity or any related entity.

There have been the following related party transactions during the year that require disclosure.

Helen Lansdown (Chief Executive) has provided services to the Charity at a rate of £200 per week as agreed by the Board, amounting to £4,800 (2022: £1,800).

14 Cash generated from operations

Cash generated from operations
2023 2022
£ £
Surplus/(Deficit) for the year 495,040 (1,330)
Movements in working capital:
Increase in creditors 2,411 1,195
__ _
497,451
(135)
======= ======
Analysis of cash and cash equivalents
2023 2022
£ £
Cash at bank and in hand 65,956 18,505
Endowment funds 450,000 -
__ _
Total cash and cash equivalents
 515,956 18,505
======= ======

15 Analysis of cash and cash equivalents

Cash and cash equivalents amounting to £450,000 (2022: £nil) are not available for use by the charity due to being a permanent endowment fund.

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