REGISTERED COMPANY NUMBER: 04651429 (England and Wales) REGISTERED CHARITY NUMBER: 1101507 The Spinal Unit Action Group Trustees. Report and Unaudited Financial Statements for the Year Ended 31 March 2024 Advance Chartered Certified Accountants 71-73 Hoghton Street Southport Merseyside PR9 OPR
The Spinal Unit Action Group Contents of the Financial Statements for the Year Ended 31 March 2024 Page Trustees, Report Independent Examinorfs Roport Statement of Financial Activitios Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Financial Statements 10 to 16
The Spinal Unit Action Group (Registered number: 04651429) Trustees. Report for the Year Ended 31 March 2024 The trustees who are also dlrectors of the charity for the purposes of the Companies Act 2006, present their report wilh the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aim8 The company's objectives and principal activities are to assist and relieve patients and former patients of the North West Regional Spinal Injuries Centre by provision of grants or equipment and to provide a residential care facility at 6 Weld Road, Southport. ACHIEVEMENT AND PERFORMANCE Charitable activltles During the year the furniture in the dining room has been replaced and after almost 20 years a new transport vehicle has been purchased ready for adaption. A major celebration of SUAG s 50th anniversary was enjoyed by residents and staff and our supporters. FINANCIAL REVIEW Financlal posltlon The charity remains on a sound financial basis. Our funds are invested across different investment sectors and are reviewed regularly. The portfolio ha8 increased in value this year after the turmoil in the financial markets. The trustees have examined the operational and business rlsks faced by the charity and confirm that they have established systems to mitigate the significant risks. Our Residential home, 6 Weld Rd has continued with good occupancy levels aided by th8 Spinal Unit Outreach programme. There was a reasonable Increase in care funding from the local authorities although there has been a reduction in our provision of respite care. After our 3 year contract for gas and electricity ended there has been a 3000/0 increase in these costs. Reserves policy It is the policy of the company to maintain unrestricted funds at a level which equates to a minimum of one years running costs for 6 Weld Road. The current level of reserves stands at £793,667 (2023: £762,003), comprlsing all unrestricted net assets excluding the tangible fixed assets. This equates to approximately 18 months, running costs, whlch is considered nesSary by the trustees in light of the fact that the charity has operated at a deficit for several years exacerbated by the loss of a major source of grant funding. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust. and constitutes a limited company, limlted by guarantee, as defined by the Companies Act 2006. Appolntment of Management Committee The directors of the company are also charity trustees for the purposes of ch8rity law and under the company's Artlcles are known as the Executive Committee. Trustees are elected from the general membershlp following long term involvement with the charity. Specific skill requirements are identified and approprlate persons are approached for their input and involvement. Executive officers are elected to serve every year. Page 1
The Splnal Unit Action Group (Registered number: 04651429) Trustees. Report for the Year Ended 31 March 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Organisational structure The charity elect5 the Executive Committee who meet six times per year to review and control the operation5 of the charity. The membership meets monthly and is requested to ratify any Execulive Committee decisions. A Management Committee is appointed by the Executive and is charged with responsibility for the ongoing running of the Residential home, 6 Weld Road. with a fvll time manager. M Cheetham, appointed for the day to day management decisions. In setting our objectives and planning c>ur activities, the trustees have given careful consideration to the Charity Commission's general guidance on public benefit. Related parties There is a close working relationship with the Regional Spinal Injuries Centre and also appropriate Local Authority Departments covering many aspects of the requirements of our target clients. We have re enfor our mutual working relationship with the Spinal Injuries Association and with other related charities both natlonal and local. Rlsk management The trustees have appointed professional advisors to ensure the continuing compliance with Current legislation and to assist with all risk assessments. A thorough review of insurances cover has been undertaken in this year. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04651429 {England and Wales) Reglstered Charity number 1101507 Registered office 71-73 Hoghton Street Southport Merseyside PR9 OPR Trustees S P Crilly Retired P Sell Doctor G M Stevenson None M A Wren Retired V J Boydell (appointed 9.4.24) Company Secretary MAWren Independent Examiner Advance Chartered Certrfied Accountants 71-73 Hoghton Street SoLrthport Merseyside PR9 OPR Page 2
The Spinal Unit Action Group {Reglstered number: 04651429) Trustees. Report for the Year Ended 31 March 2024 COMMENCEMENT OF ACTIVITIES The company was incorporaled on 29 January 2003, and registered as a charitable company on 14 January 2004. Approved by order of the board of trustees on 25 September 2024 and signed on its behalf by.. M A Wren - Trustee Page 3
Independent Examiner's Report to the Trustees of The Spinal Unit Actlon Group (Registered number: 04651429) Indepandant examlner's report to the trustees of The Spinal Unit Actlon Group ('the Company'} I report to the charlty trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbillties and basis of rfrport As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companles 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 charivs acLounts 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 statom•nt Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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 methods and principles of the Statement of Recommended 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 cOnrnS and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Benjamin Gilbert The Association of Chartered Certified Accountants Advance Chartered Certified Accountants 71-73 Hoghton Street Southport Mers8yside PR9 OPR 25 September 2024 Page 4
The Spinal Unit Action Group Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 15.901 15.901 20,798 Charitable activities Residential Care Income 673,855 673,855 521,134 Other trading activities Investment income Other income 1,929 18,513 4.200 1,929 18,513 13,898 783 18,091 17,410 9,698 Total 714.398 9,698 724.096 578,216 EXPENDrruRE ON Raising funds 6,413 6,413 6.756 Charftable actlvltles Residential Care Income 726,936 9,698 736,634 594,877 Total 733,349 9,698 743,047 601,633 Net Incomingl(Outgoing} resource8 before other gains and losses (18,951) (18,951) (23.417) Net gainsl(losses) on investments 50,615 50,615 42.411) NET INCOMEI{EXPENDITURE) 31,664 31,664 {65,828) RECONCILIATION OF FUNDS Total funds brought forward 762.003 762.003 827,831 TOTAL FUNDS CARRIED FORWARD 793.667 793.667 762,003 The notes form part of these financial statements Page 5
The Spinal Unit Action Group (Registered number: 04651429) Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets Investments 14 15 3,528 682,030 3,528 682,030 4.423 685.277 685,558 685,558 689,700 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank and in hand 16 106.906 3,355 43,984 106,906 3,355 43,984 39.839 4.271 78.895 154,245 154,245 123,005 CREDrroRS Amounts falling due within one year 17 (46,136) (46,136) (50,702) NET CURRENT ASSETS 108,109 108,109 72,303 TOTAL ASSETS LESS CURRENT LIABILITIES 793,667 793,667 762,003 NEf ASSETS 793.667 793,667 762,003 FUNDS Unrestricted funds.. General fund 18 793,667 762,003 TOTAL FUNDS 793,667 762,003 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not requlred the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge thelr responsibilities for {a) ensuring that the charitable company keeps accounting records that comply with Sectlons 386 and 387 of the Companies Act 2006 and (b) preparing financlal statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each flnancial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitsble company. The notes form part of these financial statements Page 6 contlnued...
The Spinal Unit Action Group (Registered number: 04651429) Balance Sheet . contlnued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2024 and were signed on its behalf by: M A Wren - Trustee The notes form part of these financial statements Page 7
The Spinal Unit Actlon Group Cash Flow Statement for the Year Ended 31 March 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 107.286) 8,645) Net cash used in operating activities 107,286) Cash flows from investing actlvltles Purchase of tangible fixed assets Purchase of fixed asset investments Sale of fixed asset investments Interest received Dividends received (3.120) (54,501) 76,605 180 17,911 (84,985) 138,847 702 17,811 Net cash provided by investing activities 72,375 37,075 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (34.911) 28.430 78,895 50.465 Cash and cash equivalents at the ond of the reporting period 43,984 78,895 The notes form part of these financial ststements Page 8
The Spinal Unit Action Group Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET INCOMEI(EXPENDrruRE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomel(expenditure) for the reporting perlod (as per the Statement of FinanGial Activitias) Adjustments for: Depreciation charges (Gain)llosses on investments Interest received Dividends received (Increase)Idecrease in deblors (Decrease}lincrease in creditors 31,664 (65,828) 895 (50,615) {702) (17,811) (66.151) 4,566) 391 42,411 (180) (17,911) 31,687 785 Net cash used in operations 107.286) 8.645) ANALYSIS OF CHANGES IN NEf FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 78,895 34.911) 43.984 78.895 34.911) 43.984 Total 78.895 34.911) The notes form part of these financial statements Page 9
The Spinal Unit Action Group Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Gharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. with the exception of investrnents which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. Expenditure Liabilities are recognised as expendlture as soon as there is a legal or constructive obligation committing the charity to that expendlture, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been Classified under headings that aggregate all cost 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 200A on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon costs and other post-retiroment benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Flnancial Activities in the period to which they relate. Page10 continued...
The Spinal Unit Action Group Notes to the Financial Statements . continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donations 15,901 20,798 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events 1,929 783 INVESTMENT INCOME 2024 2023 Other fixed asset invest - Fll Deposit account interest 17,811 702 17,911 180 18,513 18.091 INCOME FROM CHARrrABLE ACTIVITIES 2024 2023 Activity Residential Care Income Residential Care Fees 673,855 521.134 RAISING FUNDS Investment management costs 2024 2023 Portfolio management 6.756 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 8) Support costs (see note 9) Direct Costs Totals Residential Care Income 699,783 14.128 22,723 736.634 GRANTS PAYABLE 2024 2023 Residential Care Income 14,128 Page11 continued...
The Spinal Unit Action Group Notes to the Financial Statements . continued for the Year Ended 31 March 2024 SUPPORT COSTS Governance costs Management Totals Residential Care Income 47 22,676 22,723 47 22,676 22,723 10. NEf INCOMEI{EXPENDrruRE) Net incomel(expenditure) is stated after chargingllcrediting).. 2024 2023 Depre¢iatlon - owned assets 895 391 11. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. 12. STAFF COSTS 2024 2023 Wages and salaries Social security costs other pension costs 501,731 24,158 14.082 433,467 20,948 9,034 539.971 463,449 The average monthly number of employees during the year was as follows: 2024 29 2023 31 Residential care home staff No employees reiVed emoluments in excess of £60.000. Page 12 continued...
The Spinal Unit Action Group Notes to the Financial Statements . continued for the Year Ended 31 March 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund Total Jnds INCOME AND ENDOWMENTS FROM Donations and legacies 20,798 20.798 Charitable activiti88 Residential Care Income 521,134 521,134 Other trading aclivities Investment income Other income 783 18,091 4,200 783 18,091 17.410 13,210 Total 565,006 13.210 578.216 EXPENDITURE ON Raising funds 6,756 6,756 Charitable activities Residential Care Income 581.667 13,210 594,877 Total 588,423 13,210 601.633 Net galnsl(losses) on investments 42,411) 42.411) NET INCOMEI(EXPENDITURE) (65.828) (65,828) RECONCILIATION OF FUNDS Total funds brought forward 827.831 827,831 TOTAL FUNDS CARRIED FORWARD 762,003 762,003 14. TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 April 2023 and 31 March 2024 131,488 DEPRECIATION At 1 April 2023 Charge for year 127.065 895 At 31 March 2024 127.960 NET BOOK VALUE At 31 March 2024 3.528 At 31 March 2023 4,423 Page 13 continued...
The Splnal Unlt Action Group Notes to the Financlal Ststements- continued for the Year Ended 31 March 2024 15. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 April 2023 Additions Disposals Revaluatlons 685.277 84.985 (129,000) 40,768 At 31 March 2024 682.030 NET BOOK VALUE At 31 March 2024 682,030 At 31 March 2023 685,277 There were no investment assets outside the UK. Cost or valuation at 31 March 2024 is represented by: Listed investments Valuation in 2024 682,030 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 106,906 39.839 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltors Social security and other taxes Accruals and deferred income 20,501 5,586 20,049 33,454 4.312 12.936 46,136 50,702 18. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 762,003 31,664 793,667 TOTAL FUNDS 762,003 31.664 793.667 Page 14 continued...
The Spinal Unlt Actlon Group Notes to the Financial Ststements- continued for the Year Ended 31 March 2024 18. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrostrlcted funds General fvnd 714,398 {733,349) 50,615 31,664 Restricted funds Restricted Funds 9,698 {9,698) TOTAL FUNDS 724,096 743,047) 50,615 31,664 Comparatives for movament in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 827,831 (65,828) 762,003 TOTAL FUNDS 827,831 65,828) 762,003 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 565,006 (588,423) (42,411) (65,828) Restrlcted funds Restricted Funds 13,210 (13,210) TOTAL FUNDS 578.216 601,633) 42.411) 65,828) A current year 12 months and prior year 12 months combined position is as follow5: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 827.831 {34.164) 793.667 TOTAL FUNDS 827,831 34,164) 793.667 Page15 continued...
The Spinal Unit Action Group Notes to the Flnancial Statements - continued for the Year Ended 31 March 2024 18. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement osses in funds Unrestrlcted funds General fund 1,279,404 (1.321,772} 8,204 (34,164) Restricted funds Restricted Funds 22,908 (22,908) TOTAL FUNDS 1,302,312 (1,344,680) 8.204 34,164) 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 16