Charity registration number 1114999 Company re8lstratlon number 057419301En8land and Wales) THE BRAIN CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE BRAIN CHARITY LEGAL AND ADMINisfRATIVE INFORMATION Trustees Profe550r W Chambers V Boateng I Craig Dr P Moore MRea Jsa Dr N Sllver TG Walsh M Burquest R Rahman (Appolnted 17 October 20231 (Appolnted 9 February 20241 Secretary M 8urquest Charlty number 1114999 Company numbar 05741930 Reglstered offlce Norton st￿et Llverpool Merseyslde L3 8LR Audltor MFtchell Chèrlesworth (Audltl Llmlted STemple Square Temple Street Llverpool L2 5RH THE BRAIN CHARITY CONTENTS Page Tru5tees' report Independent audltor's report 6-10 ststement of flnanclal artlvltle5 li Balance sheet 12-13 Statement of cash flows 14 Notes to the flnanclal statements 15-31 THE BRAIN CHARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH2024 The trustees, who are also dlrectors of the CharEty for the purpose5 of the Companles Act 2006. present their report wlth the financial statements of the Charity for the year ended 31 March 2024. The tn￿teeS have adopted the provislons of Accountlng and ReFMlrting by Charltle5- Statement of Recommended Practice In preparfjng the annual report and financial statements of the charlty. The financlal ststements have been prePa￿d In accordance wlth the accountlng pollcles set out in note I to the financlal ststements and ¢omply wlth the charlty's govemlng document, the Companle5 Art 2006 and 'Accounting and Reporting by Charltles: Statement of Recommended Practlce applicable to charitles p￿paring their accounts in accordance wlth the Flnancial Reportlng Stsndard appllcable in the UK and Republic of Ireland IFRS 1021" leffectlve l January 20191. Objectlves and actlvltles Artlvltles The Braln Charlty offers practlcal help, emotlonal support and soclal actlvltles to anyone wlth a neurolo8lcal condltlon and to their famllyi frlends ènd carets. We offer a rèn8e of servlces Ineludlng counselllng, employment support, welfare beneffts advlce, support for carers, soclal actlvltles and a natlonal Informatlon and advlce servlce. Mlsslon. Values and Strateglc Objectlves Our Mlsslon Our mlsslon Is to enable all those affected by neurologlcal condltlons to Ilve longer, healthler, happler1Sve5. We will flght together for an Incluslve and Just soclety.. a world where stlgma, hardshlp and Isolatlon are replaced by compasslon and understandln8. Our Values Klndn•M We 8enulnely welcome everyone to our Charlty and belleve that each person has a unlque tslent and the ablllty to make the world a better place. Commltment We wlll travel slde by slde wtth everyone throughout th¢lr Journey no matter how complex, how lon8 or how difficult. We roll up our 51eeve5 whenever and wherever V￿ need to. Avihentl¢lty We accept and understand that the broadness of our own dlverslty and personal experlence Impacts dirertly on the level of quality and passlon dellvered wlthln our service5. Cour•g• We will Challenge the ststU5 quo, welcome change and brnvely tske on any new Challenges In the splrlt of adventu￿. Optlmtsm We belleve that equality for people wlth neurolo8lcal condltlons is now wlthln reach and we will strfve each and every day unt51 preludlte and lack of opportunlty are rernoved from our soclety. Our Current Strnteglc Objertfves l. Deliver a range of essentlal and innowdtive servlces to meet the needs of our seNlce users. 2. Achieve excellence in the quality of our services 3. Play our part In the wlder dlsabllity equallty movement by tscklln8 dlscrlmlnatlon at a Icrtal level. 4. Be ready for growth when it happens. 5. Increase in￿rne in orderto reach out to m¢xe people. The trustee5 have paid due regard to guidance i55ued by the Charity Commi55i0n in deciding what actlvitles the charity should undertake. THE BRAIN CHARITY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance The Brain Charity has delivered another strong set of results in 2023124. Our income continues to increase. driven by our new and growing Neurodiversity Trainin8 offer and a strengthened Communications & Fundralslng team. We are always grateful to those who leave us glfts In thelr wllls, and thls has been a ￿gnIficant ¢ontrlbutlon to th15 year'5 Income. We contlnue to manage our expendlture well and are very proud of the finan¢lol outturn for the year. We a￿ pleased to be enterln8 the hext year In a strong and confident posltlon. desplte a challenglng envlronment for the Charlty sectorgenerally. The range and nature of enqulries to the charlty has become more complex and demandin8, reflectlng Increaslng hardshlp wlthln the cornmunltles we Serve ind the Increase In expendlture on frontllne servlce$15 a response to thls. The charlty Is thrllled to have opened our specla115t Neuro Gym onslte and we have already welcomed many people wlth neurologkal condltlon5 to thls free-tO-U5e faclllty. funded by Nat5onal Lorterles for 3 years, Our new CRM has enabled the 5treamllnlng of processes to progress thls yejr; Jn ongolng prlorlty whlch we wlll contlnue to expand In scope and scale In the comlng year. Our Ye•r In Plumbers rvlces Thls year The Braln Charlty has Supported 2,734 cllents wlth prdctlcal help, support and soclal activltles. DeliVe￿d 2,672 coun5elllng 5e55lons wlth 334 cllents, 159 face to face and 175 remotely Asslsted 187 carers wlth thelr responslbllltbes through our Carer's Advocacy Servlce Provlded for Children and Young People to partlclpate In Summer Arts Se55lons1431, The Braln Changer Arts ProJect1581 and an Xmas event181 We contlnued to work wlth 8 hospitals across The Lfverpool Clty Reglon Pro"ect based dellv The Braln Charlty contlnued to support jobseekers wlth skllls and confldence for employment, Includln8 205 1-2-1 coachlng sesslons and 10 cohorts of Confldence Bulldlng Workshops 97 NeuroGym Inductlons (from launch In Oct 2023 to 31st March 20241 tsff and voluntee stsff numbers decllned s118htly from 52 to 49, reflertlng mlnor movement$ across all areas. 40% of staff are known to have a neurolo8lcal conditlon, a dI￿bIlitY and l or are neurodivergent stsff took part In 430 hours of tralning 80 active volunteers provided over 8,000 hour5 of volunteering tlme Our 30 ¥olunteer befrlender5 logged an addltlonal 2,500 hours of co115 Communications Our print and emall maillng lists, including our newsletterThe Nerve, now have 14.814 subscrlbers. The Brdift Charity now hos more than 30,QCK) followers on soclal media - on Facebool K Linkedln, Instagram, TikTok and YouTube. Fundrdlsln Income from individual donations, including legacies. and challenge fundraising has risen by 30% to £494,384 SFX)nsorship ha5 also rlsen by 20% to £518.623 THE BRAIN CHARITY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trddlng Income has risen but grants Income has de¢￿ased In both Projects and Core grants by a similar amount Future Development Our new CEO took up her post In August 2023, revlslng the focus for the last 6 months of th15 year. This enabled the charlty to explore Improvements In work support systems. to consider the sustalnabillty of our approaches to fLJndra151ng as well as to consolldate the Inclusive Cultu￿ we pride ourselves on, to set the groundwork for future growth. The year ahead will see the recruitment of a new Chair to the Board of Trustees and the development of a new 5-year 5trate8y for the charlty, whlch wlll identify key prlorltles for the charlty. coming Into effect from Aprll 2025. Next year's actlvity wlll see the advancement of Al-supported wor* systems. an Intranet and Phase 2 of our CRM developmen¢ whlch wlll support a focus on Quallty Stsndards to monltor and set value agalnst our work, to emphaslse our Impact. It will also maximize the expansion of the fundraisln8 functlon and see the Introduction of an onllne tralnlng platfom) to support our Income-generatlng actlvlties. Flnanclal revlew As we emerge from the global pandemlc and the financlal crlsls, the Charlty generated an overall surplu5 on the Income and expendlture account. An overall accountln8 surplus of £76,654 12023., deflclt £14,170) has been set a8alnst the reserve5. Thls comprlses an operatlng surplus of £49,95912023- £4,878) plus a 8aln on Investments of £26,69512023:1055 £19,048). It should be noted that the operatln8 surplus Includes depreclation totslling £44,186 12023: £40.1111 whlch dld not Impact the cash positlon. The performance on day to day operatlons before depreclatlon showed a surplus of £94,145 12023: £44,9891. Durlng the year the charlty acqulred computer software at a cost of £8,55012023.' £14,077) and made Improvements and purchased Item5 of equlpment at the Norton Street premlses c05tln8 £19.19512023.' £42.9711. The trustees are happy wlth thls year's flnanclal perfornmnce In the context of our long term strategv. Reserves pollry The Charlty's reserves pollcy Is desl8ned to provlde the Charlty wlth the financlal ftexlblllty to: al fund shortfa115 when In¢orr* does not reach expected levels. bl fund une¥perted expendlture, for example when projects over run or unplanned events occur. cl ensure that the Charlty Is not unnecessarlly holdlng back on spendlng In favour of uslng the resources It has to meet Its charltable objectlves. Invostment pon¢y The objettive of the Charity's Investment pollcy Is to provlde adequate financial ￿sOUrCeS to support the achievement of the charitable objectives. The trustees a￿ willing to incur a medium level of risks with a balanced strategy and annually ￿vISIt thelr capaclty to Incur rtsk. The trustees wlll not invest directly In tobacco or alcohol companies, Shares. THE BRAIN CHARITY TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 Strnrture• govemance and management Sub-commltte•s The board of Tru5tee5 Operates two 5ub- commlttees: Finance & Governance Committee Digitsl & Technology Governance Commlttee These sub-¢ommlttees are made up of sultably quallfled Trustees and Senl¢y Management and formally report back to the full board at each quarterly meetlng, Rlsk m•n4gement The Charlty malntalns a Rlsk Reglster to Identlfy any major Issues whlch may affect the Charity In order that Ft can assess the potentlal Impact of these should they happen, and mltlgate thls where posslble. The Rlsk Re8lster uses a 'Llkellhood' ¥ 'Level of Impact. ratln8 System to assess each percelved rlsk. Governln8 do¢ument The Charlty was Incorporated on 14 M3rch 2006 and registered as a Charlty on 30 June 2CKi6. On l Aprll 2007 all the assets and actlvltles of Mersey Neurologlcal Trusts. an assoclated charlty. were transferred to the Charfty. The Charlty Is controlled by Its governln8 document, Its Artlcles of Assoclatlon, and constltutes a prlvate company Ilmlted by guarantee. Incorporated under the Companles Act 2006 In England and Wales. In February 2020. new Artlcles of Assoclatlon were unanlmously approved by the board and flled wlth Companles House, havln8 been brou8ht up to date In accordance wlth current le8lslatlon and best practlce. The trustee5 who are also the dlrectors for the purpose of company law, and who served durln8 the year and up to the date of slgnature of the financial ststements were: Professor W Chambers J Blomley V Boateng I Cra18 Drp Moore Drj Plcton MRea J Sale Dr N Silver KESwan TG Walsh M Burquest R Rahman {Reslgned 28 March 20241 (Reslgned 25 June 20241 IResl8ned 9 Aprfl 20241 (Appointed 17 October 20231 (Appolnted 9 February 2024) None of the trustees has any beneftcial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a wlndlng up. The Board Is currently seeklng new Trustees and would posltlvely welcome applicatlons from Indlvlduals from under- represented groups and from people with neurological condition5. THE BRAIN CHARITY TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORn ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees, responsibilitlqs The trustees. who are also the directors of The Braln Charlty for the purpose of company law. are responsible for P￿Paring the Trustees, Report and the flnanclal statements In accordance wlth applicable law and Unlted Kln8dom Accountln8 Standards (Unlted Kingdom Generally A¢¢epted A¢¢ountln8 Praclicel. Company Law ￿quI￿$ the trustees to prepa￿ financial ststements for each financial year whlch give a true and fair vlew of the stste of affalrs of the charlty and of the incoming resource5 and appllcation of resource5. Includlng the income and expendlture. of the charitsble company for that year. In preparlng these ftnanclal statements. the trustees are requlred to: - select sultable 4¢countln8 pollcles and then apply them conslstently; - obseNe the methods and prfnclples In the Charltles SORP; - make judgements and estlmates that are reasonable and prudent; state whether appllcable UK Accountlng Standards have been followed, subject to any materlal departures dlsclosed and explalned In the flnanclal ststements; and p￿pare the flnanclal statements on the golng concern basls unless It Is InapproprSate to presume that the charlty wlll contlnue In operatlon. The trustees are responslble for keeplng adeouate accountlng records that dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charity and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are 81so responslble for safe8uardln8 the assets of the charlty and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. Audltor In attordance wFth the company's artlcles. a resolutlon proposln8 that Mitchell Charlesworth (Audit) Llmlted be reappointed as audltor of the company wlll be put at a General Meetlng. Dls¢lo$ure of Informatlon to audltor Each of the trustees has conflrmed that the￿ Is no Informatlon of whlch they are aware whl¢h 15 relevant to the audlt, but of whlch the audltor Is unaware. They have further conf4rmed that they have taken approprlate 5tep5 to Identlfy such relevant Infomatlon and to estsbllsh that the audltor Is aware of such Infonnatlon. TheTrustees' report was approved by the Board of Trustees. Profe550r W Chambers Trustee IS Ortober 2024 THE BRAIN CHARITY INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF THE BRAIN CHARITY Oplnlon We have audlted the financial statements of The Brain Charity (the 'charity'l for the year ended 31 March 2024 whlch comprise the ststement of financlal actlvitles, the balance sheet, the statement of cash flow5 ond notes to the flnanclal Statement5, Includlng slgnificant accountlng pollcies. The flnanclal reporting framework that ha5 been applied In thelr preparatlon Is appllcable law and United Kingdom A¢¢ountlng Stsndards, Includlng Flnanclal Reportlng Standard 102 The Financlol Reporting Stondord opplicoble In the UK ond Republic of Irelqnd {Unlted Klngdom Generally Accepted Accounting Practlce). In our oplnlon, the financlal statements". 8lve a tft￿ and fair view of the stste of the charitable company's affalrs as at 31 March 2024 and of Its Incoming resources and appllcatlon of resources. forthe year then ended; have been properly prepared In accordance wlth Unlted Kingdom Generally Accepted Accountin8 Practlce: and have been prepared In accordance with the requlrements of the Companles Act 2006. Baslslor oplnlon We conducted our audlt In accordance wlth Intematlonal Standards on Audltlng IUKI (ISA5 IUKII and appllcable law. Our sponslbllltles under th05e 5tsndard5 are further de5crlbed In the Auditor'5 re5pon51blllties fvr the oudlt of the flnanclol statements sectlon of our report. We are Sndependent of the ch3rSty In accordance wlth the ethlcal requlrernents that are levant to our audit of the flnanclal.statements In the UK, In¢ludlng the FRtrs Ethlcal Stsndard, and we have ful!Illed our other ethlcal re5pon51b1l￿1e5 In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned Is sufpiclent and approprlate to provlde a basls for our oplnlon. Con¢luslons rel•tlng togoln8 ¢oncern In audltln8 the financlal statemeftts. we have concluded that the Trustees, use of the goln8 concern basls of accountlng In the preparatlon of the flnanclal statements15 approprlate. Based on the work have performed. we have not Identlfled any materlal uncertalntles ￿lating to events or condltlons that, Indlvldually or mllectlvely. may cast sl8nificant doubt on the charlty's ablllty to contlnue as a golng concern for a perlod of at least twelve months from when the financlal statements a￿ authorlsed for Issue. Our responslbllltles and the responslbllltles of the trustees wlth respect to golng concern a￿ descrlbed In the relevant sectlons of thls report. Other InfOrm￿lOn The other Infomatlon comprlses the InformatSon Included In the annual report other than the flnanclal ststements and our audltor's report thereon. The trustees are responslble for the other Snfomiatlon contslned wlthin the annual report. Our opinlon on the financlal statements does not cover the other Information and we do not expre55 any form of assurance concluslon thereon. Our responslblllty Is to read the other Informatlon and, In doln8 $0. conslder whether the other Infonnatlon Is materlalty Inconslstent wlth the flnanclal statements or our knowledge obtsined In the course of the audlt, or otherwise appears to be materially misstated. If we identify such material Inconsistencies or apparent material mlsstatements, we are required to determine whether this gives rise to a materlal m155tatement In the financlal statement5 themselves. If. based on the work have performed, we conclude that the￿ Is a materlal mlsrtatement of thls other Infomatlon. we are reqUI￿d to ￿pOrt that fact. We have nothlng to report in thls regard. THE BRAIN CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRAIN CHARITY Matters on whl¢h we are requlred to report by eKeptlon We have nothing to report In respect of the followlng matters In relotlon to whl¢h the Charltles (Accounts and Reports) Regulations 2008 require us to report to you If. in our opinion: the information glven In the financlal statements is Inconslstent In any material ￿ spert wlth the Trustees, report; or 5ufflclent accountlng record5 have not been kept; or the flnan¢lal statements are not in agreement with the a¢countlng ￿ordS.. or we have not recelved all the Information and explanatlons we requlre for our audlt. Responslbllltles of trustees As explalned more fully In the ststement of Trustees, responslbllltles, the trustees. who are also the dlrectors of the charlty for the purpose of company law, are responslble for the preparatlon of the flnanclal statements and for being satlsfjed that they 8lve a true and falr vlew, and for such Internal ¢ontrol as the trustees detennlne Is necessary to enable the preparatlon of finonclol 5tatement5 that are free from materlal m155tatemenL whether due to fraud or error. In preparlng the flnanclal statements, the trustees are responslble for assessln8 the charlty's ablllty to contlnue a5 a golng concern, dlsc1051n& a5 applicable, matters related to golng concern and u51ng the golng concem basls of accountlng unles5 the trustees elther Intend to Ilquldate the charltable company or to cease opeTrtlons, or have no reallstlc alternatlve but to do so. Audltor'$ re$pon$lbllltles for the iudlt ol the flnantl•l st•tements We have been appolnted as audltor. under sectlon 144 of the Charltles Act 2011 and report In accordance with the Act and relevant re8ulatlons made or havlng effect thereunder. Our oblectlves are to obtaln reasonable assurance about whether the flnanclal ststements a$ a whole are free from materlal mlsststement, whether due to fraud or error, and to Issue an audltor's report that Includes our oplnlon. Reasonable assurnnce Is a hlgh level of assurance but Is not a guarantee that an audlt Conducted in accordance wlth ISA5 IUKI wlll always detect materlal mlsstatement when It exlsts. Mlsstatemerbts can arlse from fraud or error and are consldered materlal If, Indlvidually or In the agg￿gate, they could reasonably be expected to influence the economlc declslons of u$er5 taken on the basls of these financlal ststernents. Ir￿gularItIeS, Includlng fraud, a￿ Instances of non-wmplSance wlth laws and re8ulatlons. We deslgn procedures In Ilne wlth our res￿nsIbIlitIeS, Outllned above, to detert materlal mlsstatements In ￿Spect of [r￿gUlarItIes, Includlng fraud. The extent to which our procedures are capable of detectlng Irregularltles, Includlng fraud, Is detslled below. THE BRAIN CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRAIN CHARITY Extent to whlch the audlt was consIde￿￿ rapable of detecllng Irregularltle5. In¢ludlng fraud We Identlfy and a55es5 the risks of materlal misstatement of the financial statements, whether due to fraud or error. and then deslgn and perform audit procedures responsive to those risks, includin8 obtainin8 audlt evldence that Is sufflclent ènd approprlate to provide ? basis for our oplnlon. Identlfylng and assesslng potentlal rlsks related to Irre8ularltles In Identlfylng and assesslng rlsks of materlal mlsstatement In respect of Irregularltles, Includlng fraud and non-compllance wlth laws and ￿gUlatIonS, we considered the following: the nature of the Industry and sertor. Control envlronment and bulness performance; the charlty'5 own a55e55ment of the rlsks that Irregular5tles may occur elther as a result of fraud or error. the results of our enqulrles of management and Members of the Board of Trustees of thelr own Ident5fl¢atlon and assessment of the rlsk5 of Irregularltles,, ny matters we Identlfled havlng obtslned and revlewed the charlty's documentatlon of thelr pollcles and procedures relatlng to: Identlfylng, evoluatln8 and r.omplyln8 wbth law5 and re8ulatlon5 and whether they were aware of any .Instance5 non-compliance: detectlng and re5pondln8 to the rlsks of fraud and whether they have knowledge of any artual. suspected or alleged fraud: and the Internal controls establlshed tc mlt*te rlsks of fraud or non) CJ 5 0 THE BRAIN CHARITY NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds The unrestrlcted funds of the charlty comprlse the unexFonded balances of donations and grants whlch are not subJect to specific conditlons by donors and grantor5 a5 to how they may be used. ThE5e include designated funds which have been set a51de out of unrestrlcted funds bythe trustee5 for speclflc purp05es. At l Aprll 2023 Incomlng resour¢es Tr•nslersGaln5 and losses At 31 March 1024 expended Norton st￿et Centre Buildlng Improvements and malntenance General funds 530,000 530,0(10 loo,000 319,764 loo.000 123,7281 200,000 292,440 1,343.874 (1,374.1651 26,695 949,764 1,343,874 11,374,16SI 76,272 26,695 1,022,440 Prevlous year. At l Aprll 2022 Incomlng resources Resources expended Tr•nsf•rsG•ln$ and losses At 31 MaKh 2023 Norton Street Cent Bulldlng Improvements and malntenance General funds 530,000 530,000 loo,000 376,446 loo,000 319,764 1,013.587 11.076.058) 24,837 119,0481 1,006,446 1.013.587 11.076.058) 24,837 119,0481 949,764 Norton Street Centre Thls is the unrestrlcted net book value ot the freehold property and lon8 leasehold land. Bulldlng Improvement and malntenance The Board have undertaken a revlew of the Norton Street premises. whlch Is over 25 years old and have Identlfied and scheduled potential repair work5 which will be requlred to the building over the next ten year5. The Trustees have agreed to designate a propurtlon of unre5trlcted Sncome each year to provlde for those futu￿ works. The Board belleve5 £200.000 wlll cover the c05ts of these repairs. -29- THE BRAIN CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Analysis of net assets between funds Unrestrlcted fund5 2024 Restrfcted funds 20Z4 Totsl 2024 At 31 March 2024: Intanglble fixed assets Tanglble assets Investments Cuffent a55ets/lllabllltles) 15,287 604,464 339,343 63.346 15.287 650.954 339,343 63,346 46.490 1,022,440 46,490 1,068,930 Unrertrl¢t•d fvnd$ 2023 Restrlcted funds 2023 Total 2023 At 31 March 2023: Intanglble flxed assets Tangible assets Investments Current assets/lllabllltSesl 11,262 630.188 305,248 3,066 11,262 672,700 305.248 3.066 42.S12 949,764 42,512 992,276 25 An•lysl$ of chan8e5 In net funds The charlty had no materlal debt durlng the year. THE BRAIN CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Cash generated from operatlons 2024 2023 Surpluslldeftcltl for the year 76.654 114,170} Adjustments for: Investment Income recognised In statement of financial activltles Loss on dlsposal of tan8lble flxed assets Galn on disposal of Investments Falrvalue 8alns and losses on Invertments Depreciation and Impalrment of tanglble flxed assets 184,6181 1,280 16111 126,0841 44,186 190.7211 12.0151 21,063 40,111 Movements In worklng capltal.. Decrease/llncreasel In debtors Increase In credltors IDecreasel/ln¢rea$e In deferred Income 85,619 18,968 1129,618) {20.4881 25,744 11,467 Cash absorbed by operatlons 114,224} 129,009} 31