Company number: 06000961 Charity Number: 1117194 ## Shift.ms Report and financial statements For the year ended 30 April 2022 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Reference and administra�on informa�on **Company number** 06000961 **Charity number** 1117194 ## **Registered office and opera�onal address** Pla�orm, New Sta�on Street, Leeds, England, LS1 4JB ## **Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Fabrice Allum (Chair) Simon Cooper (Treasurer) Rachel Hillman Dr Raj Kumar Zera HuiXuan Ong Elad Duschak Mary Rose Ropner Barry Brackner Soeren Fryland Moeller Natalie Pankova Tom Tyler Appointed 24 August 2022 Binay Agarwala Appointed 30 August 2022 ## **Key management personnel** In addi�on to the Trustees, the following are the Key Management Personnel to whom the Trustees have delegated day-to-day responsibili�es: George Pepper Chief Execu�ve ## **Bankers** Na�onal Westminster Bank plc Leeds City Office 8 Park Row Leeds LS1 5HD ## **Auditors** Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS 1 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shift.ms Trustees’ annual report for the year ended 30 April 2022 The trustees present their report and the audited financial statements for the year ended 30 April 2022. Included within the trustees’ report is the directors’ report as required by company law. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. ## **Objectives and activities** Shift.ms - www.Shift.ms - is the community for people with multiple sclerosis (MSers). Founded by MSers, for MSers, the charity exists to offer social and emotional support, and to inspire people with MS to take charge of their health as soon as possible after diagnosis. It’s independent and it’s free. ## **Why Shift.ms?** A diagnosis of MS is life changing. It strikes when you’re in the prime of your life. Hearing from people like you helps you listen, adapt and take charge. ## **Mission** Shift.ms equips people with MS (MSers) to make sense of MS as soon as possible after diagnosis. ## **Desired Outcomes** Shift.ms work seeks to impact MSers through: - reduced isolation and loneliness - improved emotional health - increased self-efficacy As a result of the above outcomes, Shift.ms aims to minimise the negative impact of an MS diagnosis on quality of life. ## **Beneficiaries of our services** ## _Primary beneficiaries_ Each week 130 people in the UK are diagnosed with MS. With no known cure, there are approximately 130,000 people living with MS in the UK and 3 million worldwide. Since its inception, Shift.ms has been seeing a steady uptake in service users with approximately 800 newly diagnosed MSers registering on our platforms every month in 2021/22. ## _People within two years of diagnosis_ Results from an independent review of Shift.ms’ services (Tavistock Institute), have shown that Shift.ms has the biggest impact within the first two years of MS diagnosis, including social and emotional support, coping with diagnosis behaviorally and psychologically, increasing confidence in “getting on with life”, and accessing information that is understandable and relevant. ## _People with MS (2 years+)_ For those more experienced with MS, there is the need for support in adapting to changes in lifestyle and progression of the condition. There is the additional need to ‘give-back’ and share social support, 2 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Trustees’ annual report for the year ended 30 April 2022 experience, knowledge and personal skills and networks with others who are new to life with the condition. ## _Support partners_ Where relevant we will engage family, close friends or carers of those living with MS - both to enable them to better support the MSer(s) in their lives and themselves to thrive. ## _Secondary beneficiaries- Healthcare providers/systems_ To reduce the strain on health services and improve health outcomes, there is the need to improve the self-management of MSers. Self-management of long term conditions (LTCs), is now a key priority of the NHS, to reduce the strain on health services and improve health outcomes[ 1 ] . Self-care support strategies have been identified as potentially benefiting 70% to 80% of people with LTCs. Empowered people, who are well-informed and well-supported are more likely to make healthy lifestyle choices; they tend to adhere better to medication regimes, they make informed and personally relevant decisions about their treatment, they better monitor symptoms & progression, and make healthy lifestyle choices and behaviours, and use less health care[ 2 ] . By providing insights and perspectives, patients can help the wider healthcare community better understand their needs and ultimately enhance the value of healthcare solutions being developed. ## **Our strategy** In 2021/22 Shift.ms continues to deliver against the strategy set out in the previous year by increasing the positive impact on its beneficiaries, reaching more people recently diagnosed with MS, and developing a balanced income mix to ensure long term sustainability of the organisation. The Trustees have been involved in monitoring, challenging and refining the strategy alongside the Shift.ms team. The strategy identifies strategic priorities focusing on amplifying Shift.ms’ positive impact on MSers and the operational areas required to deliver our strategy in a post-COVID-19 world. Our strategic priorities by April 2024 are as follows: 1. Reach newly diagnosed MSers when they need support. - Increase the number of MSers registered on www.Shift.ms to 100,000 by 2024. 2. Improve quality of life for MSers - By 2024 establish Shift.ms’ product proposition as a tool for health management, with peer support and MSer-led education programmes integrated to connect, inform and inspire based on MSers’ individual needs. - 3. Increase the financial sustainability of Shift.ms by utilising the insights gained through the digital product and programmes - Develop a community insights product offering with an aim of generating £450,000 per annum by 2024. ## **Activities against these priorities** Reaching newly diagnosed MSers - Put together a 3 year marketing strategy for the team to work from which includes both a member engagement and content marketing strategy; > 1 3-6 Department of Health 2005a,[7] [2,3,5] - 2 Mosen et al 2007; Bodenheimer et al 2002 3 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shi�.ms ## Trustees’ annual report for the year ended 30 April 2022 - Planned out the team requirements to deliver against the strategy including job descriptions; - Created a data warehousing brief in conjunction with our technology team. ## Improving quality of life through our product - Designed our product principles and vision; - Reviewed our current user experience to create a plan on how to improve this moving forward; - Built, tested and implement a personalisation infrastructure on www.Shift.ms to ensure member see content and people relevant to them; - Implemented impact measures across the digital product - including net promoter score mechanism - to understand our impact on members. Increase financial stability via our Insights programme - Insight collection mechanisms were implemented by the product team; - Ongoing development work to deliver digital tools and building relationships with key stakeholders. The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. ## **Achievements** The charity's main activities and who it tries to help are described below. All its charitable activities focus on the advancement of education of the public, and in particular those who are newly diagnosed, in the subject of multiple sclerosis and are undertaken to further Shift.ms’s charitable purposes for the public benefit. ## **Significant achievements:** ## **Reaching newly diagnosed MSers** - At the end of 21/22, www.Shift.ms had over 43,000, a growth of 5,000 members. Slightly more than two thirds identify as women, with the US being our largest growing audience; - We reached new members mainly through social media channels. Included within our social media activities were takeovers run by members of our community on weekends who talk about their experiences of living with MS. The twitter channel grew in followers by 2,500 in comparison to 1,300 in the previous year; - Our pilot _MSers React_ series, in which we bring together a group of four MSers on Zoom to react in real-time whilst watching MS related videos on YouTube, whilst sharing their experiences/stories and feelings along the way, was a huge success. The series gained nearly 10,000 views in the first two months of release with many commenting on its ‘relatable content’ and improved their 4 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Trustees’ annual report for the year ended 30 April 2022 knowledge of living with MS. We’re looking forward to producing more series in the coming financial year. ## **Improving quality of life through our product** - The _Buddy Network,_ our one-to-one peer support programme, continued to go from strength to strength. In this financial year, the Buddy Network received an 118% annual increase in requests for support. 88% of MSers felt the Buddy Network is an accessible form of support. This was the first year of our three year National Lottery Community Fund grant for this project; - We continued to roll out upgrades on www.Shift.ms, which helped improve people’s connections with others. 71% of MSers made a meaningful connection on www.Shift.ms, an uplift of 5% on the previous year; - We improved the experience of being able to ask questions other MSers with nearly 7,000 conversations started on our forum, an increase of nearly 2,000 on the previous year; - Our direct messages functionality was improved significantly allowing people to connect one-to-one and expand their support network. Over 43,000 direct messages were sent between members in comparison to 18,000 in the previous year. - We rolled out a new method for understanding the impact of our service with a single question, a Net Promoter Score (NPS), which asked whether a member would recommend the service to other newly diagnosed MSers’. This year our target was to create a baseline, which at the end of this financial year was a score of 63.64 (anything above 30 is considered “good”). We will use this to benchmark against in the next financial year. ## **Increase financial stability via our Insights programme** - We surpassed our financial 2021/22 Insights target set at the start of the year by £56,000; - This was mainly due to our success with our Future of MS Care work. Following on from our white paper on MS and Covid-19 in 2020, we conducted another research piece with the MS community, _Future of MS Care_ , to unearth insights from the patient perspective and identify what changes could be implemented to improve MSers’ experience of care beyond the ongoing COVID-19 pandemic. This research included input from over 2,000 MSers, which is in line with the numbers we have involved in previous research pieces. These learnings have been shared widely both through Shift.ms channels and across the healthcare professional community. An abstract of the white paper was presented at ECTRIMS 2022. - _Day One_ is a series of short form MSer-led health information videos, with the aim of demystifying the uncertainty around a diagnosis of MS. The series featured 8 MSers talking about their first experience of having an MRI scan. It had over 17,000 views in its first 2 months of release with this number now growing to over 25,000. ## **Volunteers** In 2021/22, Shift.ms worked with 252 volunteers, which means for every member of staff, we have 21 volunteers. In 2020/21, we worked with 255 volunteers, and we aimed this year to maintain this number as we anticipated there would be a levelling out or a drop in people’s availability to support our work as we moved into a phase of living with Covid-19. 95% of volunteers are people who live with MS and are members of www.Shift.ms. Our volunteers deliver some of our key services by sharing their skills and lived experience with the community. Volunteers contributed 2,915 hours and worked behind the scenes in a number of roles including creating social media content, providing support to newly diagnosed MSers through the Buddy Network and writing blog 5 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms ## Trustees’ annual report for the year ended 30 April 2022 content. 95.5% of volunteers feel they’re part of a community, which is an increase of 3.5% on the previous year. 85% of volunteers agreed volunteering has helped them to adapt/adjust to living with MS, which is an increase of 5%. These both exceeded our expectations which were to remain relatively stable and in line with the previous year. ## **Fundraising** This year saw a period of stability in our fundraising, despite the fact that income dropped in some areas due to the reduction in pandemic related support funds due to Covid-19. We continued to diversify our sources of funding and we were successful in securing new funding from a mix of trusts and foundations and corporations. In particular, we developed a small funder programme which has seen us secure funding from organisations we have not worked with before. Community event fundraising was uneven, as the world continues to recover from the impact of Covid-19. Income was down on the previous year, but we had some new supporters who raised money via taking part in the Asics 10k event in London alongside several fundraising events held by a book club. Shift.ms wishes to thank the community for their continued support and generosity. Our fundraising activity has been undertaken in-house by our Trusts & Foundations Manager with support from other internal members of the team. We have not worked with external fundraising organisations or agencies. Shift.ms is registered with the Fundraising Regulator and we adhere to the Code of Fundraising. Our privacy policy is kept up to date and reflects the changes made to the General Data Protection Regulation. Fundraising requests are made only of supporters who have opted in to receive communications from us, and they can unsubscribe at any time. We received no complaints this year in relation to fundraising activities. ## **Financial review** Overall, we are in a strong and stable financial position at the year end April 2022. Both our income and net profit were down in comparison to 2020/21 due to us beginning to lay foundations for significant growth and expansion to both our team and product. The Covid-19 pandemic was still majorly in effect during the financial year, and this particularly impacted our public fundraising income due to events not taking place or being cancelled. Pre-Covid, this was a fruitful income channel for us and it is hoped this income stream will recover to pre-pandemic levels in 2022/23. Moving forward, we are likely to see a short to medium term decrease in our Trusts & Grants income due to the loss of a staff member in March 2022 which resulted in us not having a Fundraiser in position at the end of the Financial Year and for a further three months into 2022/23. Due to the likely upcoming economic crisis, we are anticipating there may be a fall in individual giving fundraising in the second half of 2022/23. We are also predicting an increase in staff expenditure due to inflated recruitment costs, a competitive job market and our continued plans for expansion. 6 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shi�.ms Trustees’ annual report for the year ended 30 April 2022 The budget for 22/23 shows significant income growth during the year compared to 21/22, with increases in revenue from Insights, Corporate Partnerships and Trusts and Grants. It is recognised that these targets might be challenging to meet, particularly in relation to Trust and Grant income but we have made significant progress since in recruiting a new Head of Fundraising and adding further resource to the team. ||2021/22 (£)|2020/21 (£)| |---|---|---| |Total Income|1,010,905|1,049,323| |Total Expenditure|733,062|708,848| |Net|277,843|340,475| |Balance B/F|566,638|226,163| |Balance C/F|844,481|566,638| |Unrestricted|343,718|230,818| |Restricted|500,763|358,820| During 2022/23 the trustees will consider the most optimal route for its investments. The 2022/23 budget was set based on a realistic assessment of the income receivable and will be monitored and updated on a regular basis during the year with actions taken as required. The Trustees are satisfied that Shift.ms is a going concern. ## **Reserves policy** In accordance with charity law, all income received by Shift.ms is applied towards its charitable purposes within a reasonable period of receipt. In meeting this obligation, the trustees of Shift.ms take into account the need to maintain reserves commensurate with the charity's financial circumstances and other relevant factors. The trustees of Shift.ms monitor the level of such reserves throughout the year and regularly review the reserves policy to ensure that it meets Shift.ms' changing needs and circumstances. Shift.ms has diversified the sources of income over the last three years. Shift.ms surpassed its four month reserves target of £316,570 in April 2022 by £27,148 (with a total of £343,718 of unrestricted reserves). Shift.ms has an ambition to further increase its level of unrestricted reserves to six months over the coming years to ensure the long term sustainability of the organisation. The actual level of unrestricted reserves at the end of the year is therefore more than the target level calculated by the Trustees. The additional reserves will be used to further the strategic objectives of the charity. The Trustees will also re-assess the calculation of the minimum level of unrestricted reserves on an annual basis to ensure that it remains sufficient and takes into account any changes in S hift.ms ' circumstances. The trustees will continue to review the amount of reserves that are required on a quarterly basis to ensure that they are adequate to fulfil the charity’s continuing obligations. 7 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Trustees’ annual report for the year ended 30 April 2022 ## **Plans for the future** This is the second year of our new strategy. To help us deliver this ambitious strategy, 2022/23 will be another year of significant growth for the team. Our fundraising strategy over the coming years will continue to focus on diversifying our funding sources and increasing income from areas where we have identified significant potential for growth, including public fundraising and major donors. In particular, we plan to use some unrestricted funds to help us achieve our strategic objectives and build a solid base for the following few years. ## **Structure, governance and management** ## **Organisational structure** The organisation is a charitable company limited by guarantee, incorporated on 16 November 2006 and registered as a charity on 8 December 2006. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 30 April 2021 was 10 (2020: 8). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts. ## **Recruiting trustees** Trustees are recruited via Nurole.com and word of mouth. To apply, potential trustees must complete an application form and undertake interviews with the board of trustees. Trustees sign up for a 3-year term which can be extended to a second 3-year term, and in exceptional cases a third 3-year term. ## **Induction and training of new trustees** All new trustees are deemed to have sufficient knowledge of their specific field to understand the nature of Shift.ms and to contribute to the charity's current and medium-term strategies. Trustees are given an in-house induction shortly after being appointed and are required to attend an external trustee training course and are encouraged to do so within 12 months of joining the board. All Trustees are also required to complete a basic DBS check and complete a ‘Safeguarding for Trustees’ online course within the first three months of joining the board.. The charity is governed by its trustees in accordance with the guidelines laid down by the Charity Commission. 8 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Trustees’ annual report for the year ended 30 April 2022 ## **Making decisions** ## _Delegation day-to-day management_ The Trustees delegate day-to-day management of the charity and take advice from the following executive within Shift.ms: George Pepper, Chief Executive and Co-Founder ## _Annual budget_ The Trustees signing off the annual budget allows the Executives to make decisions throughout the year based on their assessment of the most effective way of delivering the activity. However, the Executives recognise there will be unforeseen matters where Trustee involvement will be necessary. When possible, these matters will be added to the agendas of future Trustee meetings, however when there is a more pressing need for a response, the Executives can seek approval over email. ## _Trustee approval process_ - Approval from Trustees can be requested by the Executives over email. All Trustees should submit a response within five working days where possible. - Once a majority of Trustees have given their approval, the Executives can proceed unless there are any firm objections, at which point a conference call will be organised. - In exceptional circumstances where an emergency decision is required, the active Chair of Trustees will make a decision on behalf of the board of Trustees. Trustee sign off is required prior to Shift.ms commitment on strategically important matters. These matters include: - any project affecting Shift.ms’ intellectual property; - any project involving wholesaling services to third parties; - any project involving the NHS; - any project representing a departure from Shift.ms’ current service model and over £5,000 in value. ## **Remuneration policy for key management personnel** Shift.ms has a remuneration committee which meets periodically throughout the year. This committee oversees the remuneration policy and agrees the salaries and any other payments to the chief executive and executive leadership team. Their role is to ensure that Shift.ms' staff are rewarded fairly and differentially according to their contribution to the charity, both in achieving their objectives and in developing their competencies, skills and knowledge. They design remuneration policies and practices to support strategy and promote long term sustainable success, with executive remuneration aligned to company purpose and values, clearly linked to the successful delivery Shift.ms’ long-term strategy. The Committee has full authority to appoint remuneration consultants and commission or purchase any reports, surveys or information which it deems necessary. No senior manager shall be involved in any decisions as to their own remuneration outcome. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. In the opinion of the trustees the only material fraud risk would relate to the custody of funds on deposit and consider that adequate arrangements have been made to safeguard these funds. The management and the trustees maintain a risk register, which is updated at least annually, and includes mitigation actions. 9 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shi�.ms Trustees’ annual report for the year ended 30 April 2022 ## **Statement of responsibilities of the trustees** The trustees (who are also directors of Shift.ms for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgements and estimates that are reasonable and prudent; - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - There is no relevant audit information of which the charitable company’s auditors are unaware - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Auditors** Third Sector Accountancy Limited were appointed as the charitable company's auditors in 2021 and have expressed their willingness to continue in that capacity. This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006. The trustees’ annual report has been approved by the trustees and signed on their behalf by Fabrice Allum, Chair 10 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Independent auditor’s report to the members of Shi�.ms ## **Opinion** We have audited the financial statements of Shi�.ms (the ‘charitable company’) for the year ended 30 April 2022 which comprise the Statement of Financial Ac�vi�es, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accoun�ng policies. The financial repor�ng framework that has been applied in their prepara�on is applicable law and United Kingdom Accoun�ng Standards, including Financial Repor�ng Standard 102 _The Financial Repor�ng Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accoun�ng Prac�ce). ## In our opinion, the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 30 April 2022 and of its incoming resources and applica�on of resources for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accoun�ng Prac�ce; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with Interna�onal Standards on Audi�ng (UK) (ISAs (UK)) and applicable law. Our responsibili�es under those standards are further described in the Auditor’s responsibili�es for the audit of the financial statements sec�on of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibili�es in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions rela�ng to going concern** In audi�ng the financial statements, we have concluded that the directors’ use of the going concern basis of accoun�ng in the prepara�on of the financial statements is appropriate. Based on the work we have performed, we have not iden�fied any material uncertain�es rela�ng to events or condi�ons that, individually or collec�vely, may cast significant doubt on the charitable company's ability to con�nue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibili�es and the responsibili�es of the directors with respect to going concern are described in the relevant sec�ons of this report. ## **Other informa�on** The other informa�on comprises the informa�on included in the trustees report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other informa�on. Our opinion on the financial statements does not cover the other informa�on and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connec�on with our audit of the financial statements, our responsibility is to read the other informa�on and, in doing so, consider whether the other informa�on is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we iden�fy such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other informa�on. If, based on the work we have performed, we conclude that there is a material misstatement of this other informa�on, we are required to report that fact. We have nothing to report in this regard. 11 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Independent auditor’s report to the members of Shi�.ms ## **Opinions on other ma�ers prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: • the informa�on given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements. ## **Ma�ers on which we are required to report by excep�on** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not iden�fied material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following ma�ers in rela�on to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate and proper accoun�ng records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accoun�ng records and returns; or - certain disclosures of trustees’ remunera�on specified by law are not made; or - we have not received all the informa�on and explana�ons we require for our audit; or • the trustees were not en�tled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemp�ons in preparing the trustees’ report and from the requirement to prepare a strategic report. ## **Responsibili�es of trustees** As explained more fully in the trustees’ responsibili�es statement set out on page 10, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the prepara�on of the financial statements and for being sa�sfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the prepara�on of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to con�nue as a going concern, disclosing, as applicable, ma�ers related to going concern and using the going concern basis of accoun�ng unless the trustees either intend to liquidate the charitable company or to cease opera�ons, or have no realis�c alterna�ve but to do so. ## **Auditor’s responsibili�es for the audit of the financial statements** Our objec�ves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the 12 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Independent auditor’s report to the members of Shi�.ms ## **Capability of the audit in detec�ng irregulari�es, including fraud** Irregulari�es, including fraud, are instances of non-compliance with laws and regula�ons. We design procedures in line with our responsibili�es, outlined above, to detect material misstatements in respect of irregulari�es, including fraud. The extent to which our procedures are capable of detec�ng irregulari�es, including fraud is detailed below. Based on our understanding of the charity and the environment in which it operates, we iden�fied the principal risks of non-compliance with laws and regula�ons related to pension legisla�on, tax legisla�on, employment legisla�on, health and safety legisla�on, safeguarding legisla�on, data protec�on and other legisla�on specific to the industry in which the charity operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regula�ons that have a direct impact on the prepara�on of the financial statements such as the Companies Act 2006, the repor�ng requirements under the Chari�es SORP and FRS102, and the Chari�es Act 2011. We evaluated management’s incen�ves and opportuni�es for fraudulent manipula�on of the financial statements (including the risk of override of controls), and determined that the principle risks were related to the pressure on management to achieve par�cular results. Audit procedures performed by the engagement team included: - Review of policies and risk assessments; - Review of insurance; - Discussions with management including considera�on of known or suspected instances of non-compliance; - Evalua�ng management’s controls designed to prevent and detect irregulari�es; - Iden�fying and tes�ng journal entries; and - Challenging assump�ons and judgments made by management. There are inherent limita�ons in the audit procedures described above and the further removed non-compliance with laws and regula�ons is from the events and transac�ons reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detec�ng a material misstatement due to fraud is higher than the risk of not detec�ng one resul�ng from error, as fraud may involve deliberate concealment by, for example, forgery or inten�onal misrepresenta�ons, or through collusion. A further descrip�on of our responsibili�es for the audit of the financial statements is located on the Financial Repor�ng Council’s website at www.frc.org.uk/auditorsresponsibili�es. This descrip�on forms part of our auditor’s report. ## **Use of the audit report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those ma�ers we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permi�ed by law, we do not accept or assume responsibility to anyone other than the charitable company and, the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Patrick Morrello (Senior Statutory Auditor) For and on behalf of Third Sector Accountancy Limited, Statutory Auditor Holyoake House Hanover Street Manchester M60 0AS 13 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shift.ms ## Statement of Financial Activities (including income and expenditure account) for the year ended 30 April 2022 **----- Start of picture text -----**
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds funds 2022 funds funds 2021
Note £ £ £ £ £ £
Income from:
Donations and legacies 3 61,341 186,878 248,219 39,545 353,342 392,887
Charitable activities 4 179,721 582,965 762,686 118,681 537,753 656,434
Investments 5 - - - 2 - 2
Total income 241,062 769,843 1,010,905 158,228 891,095 1,049,323
Expenditure on:
Raising funds 6 70,243 - 70,243 59,242 - 59,242
Charitable activities 7 57,919 604,900 662,819 (48,295) 697,901 649,606
Total expenditure 128,162 604,900 733,062 10,947 697,901 708,848
Net income/(expenditure) for the year 9 112,900 164,943 277,843 147,281 193,194 340,475
Transfer between funds - - - (44,627) 44,627 -
Net movement in funds for the year 112,900 164,943 277,843 102,654 237,821 340,475
Reconciliation of funds
Total funds brought forward 230,818 335,820 566,638 128,164 97,999 226,163
Total funds carried forward 343,718 500,763 844,481 230,818 335,820 566,638
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 14 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shift.ms Company number 06000961 ## Balance sheet as at 30 April 2022 **----- Start of picture text -----**
Note 2022 2021
£ £ £ £
Fixed assets
Tangible assets 14 10,512 6,627
Total fixed assets 10,512 6,627
Current assets
Debtors 15 286,522 205,617
Cash at bank and in hand 580,370 382,697
Total current assets 866,892 588,314
Liabilities
Creditors: amounts falling
due in less than one year 16 (32,923) (28,303)
Net current assets 833,969 560,011
Total assets less current liabilities 844,481 566,638
Net assets 844,481 566,638
The funds of the charity:
Restricted income funds 17 500,763 335,820
Unrestricted income funds 18 343,718 230,818
Total charity funds 844,481 566,638
The notes on pages 17 to 27 form part of these accounts.
17 / 10 / 2022
Approved by the trustees on ___________________ and signed on their behalf by:
**----- End of picture text -----**
Fabrice Allum (Trustee) Simon Cooper (Trustee) 15 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Statement of Cash Flows for the year ending 30 April 2022 **----- Start of picture text -----**
Note 2022 2021
£ £
Cash provided by/(used in) operating activities 20 203,318 276,637
Cash flows from investing activities:
Dividends, interest, and rents from investments - 2
Purchase of tangible fixed assets (5,645) (5,315)
Cash provided by/(used in) investing activities (5,645) (5,313)
Increase/(decrease) in cash and cash
equivalents in the year 197,673 271,324
Cash and cash equivalents at the beginning of the year 382,697 111,373
Cash and cash equivalents at the end of the year 580,370 382,697
**----- End of picture text -----**
16 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 ## 1 Accounting policies The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## a Basis of preparation The financial statements have been prepared in accordance with 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) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Shift.ms meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling. ## b Judgments and estimates The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period. ## c Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. ## d Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met. 17 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## e Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## f Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. ## g Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Costs of raising funds comprise the costs of commercial trading including their associated support costs. - Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## h Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 10. ## i Operating leases Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease. ## j Tangible fixed assets Individual fixed assets costing £250 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Office fixtures and equipment 20% 18 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## k Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## l Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## m Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## n Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## o Pensions Employees of the charity are entitled to join a defined contribution scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. Outstanding contributions at the year end were £2,157. The costs of the defined contribution scheme are included within support and governance costs and allocated to the funds of the charity using the methodology set out in note 10. ## 2 Legal status of the charity The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office address is disclosed on page 1. 19 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 ## Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 3 Income from donations and legacies |Trust projects
Community fundraising
Individual giving
Grants
T
o
t
a
l
4
I
n
c
o
m
e
f
r
o
m
c
h
a
r
i
t
a
b
l
e
a
c
t
i
v
i
t
i
e
s
Commercial partnerships
Earned income
T
o
t
a
l|Unrestricted
£
8,141
18,034
1,666
33,500
_61,341_
Unrestricted
£
-
179,721
179,721|Restricted
£
186,878
-
-
-
_186,878_
Restricted
£
582,965
-
582,965|Total 2022
£
195,019
18,034
1,666
33,500
_248,219_
Total 2022
£
582,965
179,721
762,686|_Unrestricted_
_£_
_-_
_37,832_
_1,713_
_-_
_39,545_
_Unrestricted_
_£_
_-_
_118,681_
_118,681_|_Restricted_
_£_
_353,342_
_-_
_-_
_-_
_353,342_
_Restricted_
_£_
_537,753_
_-_
_537,753_|_Total 2021_
_£_
_353,342_
_37,832_
1,713
-
_392,887_
_Total 2021_
_£_
_537,753_
_118,681_
_656,434_| |---|---|---|---|---|---|---| 20 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 5 Investment income **----- Start of picture text -----**
2022 2021
£ £
Interest on bank deposits - 2
6 Cost of raising funds
2022 2021
£ £
General fundraising costs 7,228 29,000
Staff costs 50,007 25,372
Consultancy - -
Support costs (see note 8) 11,975 4,430
Governance costs (see note 8) 1,033 440
70,243 59,242
7 Analysis of expenditure on charitable activities
2022 2021
£ £
Staff costs 343,058 378,776
Service development 230,525 199,651
Support costs (see note 8) 82,150 64,753
Governance costs (see note 8) 7,086 6,426
662,819 649,606
Restricted expenditure 604,900 697,901
Unrestricted expenditure 57,919 (48,295)
662,819 649,606
**----- End of picture text -----**
21 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 8 Analysis of governance and support costs |Basis of
apportionment
ff costs
Staff costs
ice costs
Staff costs
dit fees
Staff costs
ountancy services
Staff costs
uipment
Staff costs
ndry expenses
Staff costs
vel costs
Staff costs
al and professional
Staff costs
stee expenses
Staff costs
Basis of
apportionment
ff costs
Staff costs
ice costs
Staff costs
dit fees
Staff costs
ountancy services
Staff costs
uipment
Staff costs
ndry expenses
Staff costs
vel costs
Staff costs
al and professional
Staff costs
t
i
n
c
o
m
e
/
(
e
x
p
e
n
d
i
t
u
r
e
)
f
o
r
t
h
e
y
e
a
r
s is stated after charging/(crediting):
preciation
s/(profit) on disposal of fixed assets
ditor's remuneration - audit fees
ditor's remuneration - accountancy fees
ependent examiner's fee|Support
£
45,241
16,392
-
1,400
8,742
10,652
6,482
5,216
-
94,125
_Support_
_£_
_15,310_
_12,324_
_-_
_1,400_
_8,991_
_15,130_
_37_
_15,990_
_69,182_
2022
£
1,760
-
3,500
1,400
-|Governance
£
3,549
-
3,500
-
-
733
-
-
336
8,118
_Governance_
_£_
_1,880_
_-_
_3,500_
_-_
_-_
_1,485_
_-_
_-_
_6,865_
_2021_
_£_
_1,244_
_-_
_3,500_
_1,400_
_-_|Total 2022
£
48,790
16,392
3,500
1,400
8,742
11,385
6,482
5,216
336
102,243
_Total 2021_
_£_
_17,190_
_12,324_
_3,500_
_1,400_
_8,991_
_16,615_
_37_
_15,990_
_76,047_| |---|---|---|---| 9 Net income/(expenditure) for the year 22 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 10 Staff costs Staff costs during the year were as follows: |Wages and salaries
Social security
Pension costs
Staff training and other
Childcare and life assurance
Payroll processing
Subcontracted staff
A
l
l
o
c
a
t
e
d
a
s
f
o
l
l
o
w
s
:
Cost of raising funds
Charitable activities
Support costs
Governance costs|2022
£
374,217
32,667
16,620
8,548
1,125
2,249
6,429
441,855
50,007
343,058
45,241
3,549
441,855|_2021_
_£_
_359,633_
_31,362_
_17,185_
_1,533_
_1,050_
_2,326_
_8,249_
_421,338_
_25,372_
_378,776_
_15,310_
_1,880_
_421,338_| |---|---|---| The number of employees whose emplyee benefits amounted to over £60,000 in the year were as follows: £60,001 - £70,000 - _1_ £70,001 - £80,000 - _-_ The average number of staff employed during the period was 12 (2021: 12). The average full time equivalent number of staff employed during the period was 12 (2021: 12). The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £36,543 (2021: £43,188). ## 11 Trustee remuneration and expenses, and related party transactions Neither the management committee nor any persons connected with them received any remuneration during the year. Trustees expenses of £710 were paid during the year, for travel, accomodation and subsistence in respect of 2 trustees (2021: £Nil). Shift.ms CEO George Pepper is a director of LivedHealth CIC. Shift.ms has received £38,465 (2021: £23,365) aggregate payments for recharged costs from LivedHealth CIC during the year, and made payments for recharged costs totalling £1,228 (2021: £10,939). There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: Nil). 23 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 12 Government grants The government grants recognised in the accounts were as follows: |government grants recognised in the accounts|were as follows:|| |---|---|---| ||2022|_2021_| ||£|_£_| |National Lottery Community Fund|87,000|_215,816_| The charity receives no government funding. However, National Lottery money is classed as government because its spending priorities are set by the government. ## 13 Corporation tax The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. ## 14 Fixed assets: tangible assets |s
s

t
i
o
n
or the year
s
k
v
a
l
u
e
ents and accrued income
s
:
a
m
o
u
n
t
s
f
a
l
l
i
n
g
d
u
e
w
i
t
h
i
n
o
n
e
y
e
a
r
editors
editors and accruals
and social security costs
contributions
2021
ril 2022
ril 2022
_ril 2021_
2021
ril 2022|Total
£
9,809
5,645
-
15,454
3,182
1,760
-
4,942
10,512
_6,627_
2022
£
286,522
2022
£
10,475
13,010
7,281
2,157
32,923|_2021_
_£_
_205,617_
_2021_
_£_
_3,774_
_16,422_
_5,729_
_2,378_
_28,303_| |---|---|---| - 15 Debtors - 16 Creditors: amounts falling due within one year 24 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 17 Analysis of movements in restricted funds |P
e
e
r
S
u
p
p
o
r
t
d Health Education
logy Infrastructure

_r_
_a_
_t_
_i_
_v_
_e_
_p_
_e_
_r_
_i_
_o_
_d_
d Health Education
Peer Support - other
s
al Lottery Community
unders
o
f

e
d
f
u
n
d
Peer Support -
al Lottery Community
logy Infrastructure|Balance at
1 May
2021
Income
Expenditure
Transfers
Balance at 30
April 2022
£
£
£
£
£
106,906
87,000
(178,214)
-
15,692
39,050
333,178
(284,806)
-
87,422
145,956
420,178
(463,020)
-
103,114
164,864
306,000
(133,836)
-
337,028
25,000
8,700
(2,253)
-
31,447
-
34,965
(5,791)
-
29,174
335,820
769,843
(604,900)
-
500,763
_Balance at_
_1 May_
_2020_
_Income_
_Expenditure_
_Transfers_
_Balance at_
_30 April 2021_
_£_
_£_
_£_
_£_
_£_
_97,999_
_891,095_
_(697,901)_
_44,627_
_335,820_
D
e
s
c
r
i
p
t
i
o
n
,
n
a
t
u
r
e
a
n
d
p
u
r
p
o
s
e
s
o
f
t
h
e
f
u
n
d
Support towards website design and development.
Support with delivery of digital peer support services, including development
of a 1-1 network, and support with people in need due to the Covid-19
pandemic.
Support research and data collection to understand the impact of Mser self-
care on the MS clinical care experience
Delivery of a number of MSer-led health education resources aimed at
supporting people with MS through challenges an MS diagnosis can bring.
Support with delivery of digital peer support services including development
of a 1-1 network.

| |---|---| "Other funders" refers to multiple funders who supported projects that were part of Digital Peer Support work, in addition to those funders named above. 25 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 18 Analysis of movement in unrestricted funds |signated fund:
chnology Infrastructure

_m_
_p_
_a_
_r_
_a_
_t_
_i_
_v_
_e_
_p_
_e_
_r_
_i_
_o_
_d_
_signated fund:_
_chnology Infrastructure_
neral fund
_neral fund_|Balance at
1 May
2021
£
180,818
50,000
230,818
_Balance_
_£_
_128,164_
_-_
_128,164_|Income
£
241,062
-
241,062
_Income_
_£_
_158,228_
_-_
_158,228_|Expenditure
£
(78,162)
(50,000)
(128,162)
_Expenditure_
_£_
_(10,947)_
_-_
_(10,947)_|Transfers
£
-
-
-
_Transfers_
_£_
_(94,627)_
_50,000_
_(44,627)_|As at 30 April
2022
£
343,718
-
343,718
_As at 30 April_
_£_
_180,818_
_50,000_
_230,818_| |---|---|---|---|---|---| Name of unrestricted fund Description, nature and purposes of the fund General fund The free reserves after allowing for all designated funds Technology Infrastructure Spend on website development in 2022 26 Doc ID: 1c2f464620f5712e64b2ed462586f7d6289c1339 Shift.ms ## Notes to the accounts for the year ended 30 April 2022 (continued) ## 19 Analysis of net assets between funds **----- Start of picture text -----**
General Designated Restricted
fund funds funds Total 2022
£ £ £ £
Tangible fixed assets 10,512 - - 10,512
Net current assets/(liabilities) 333,206 - 500,763 833,969
Total 343,718 - 500,763 844,481
Comparative period
General Designated Restricted
fund funds funds Total 2021
£ £ £ £
Tangible fixed assets 6,627 - - 6,627
Net current assets/(liabilities) 174,191 50,000 335,820 560,011
Total 180,818 50,000 335,820 566,638
Reconciliation of net movement in funds to net casheconciliation of net movement in funds to net cashconciliation of net movement in funds to net cashonciliation of net movement in funds to net cashnciliation of net movement in funds to net cashciliation of net movement in funds to net cashiliation of net movement in funds to net cashliation of net movement in funds to net cashiation of net movement in funds to net cashation of net movement in funds to net cashtion of net movement in funds to net cashion of net movement in funds to net cashon of net movement in funds to net cashn of net movement in funds to net cash of net movement in funds to net cashf net movement in funds to net cash net movement in funds to net cashet movement in funds to net casht movement in funds to net cash movement in funds to net cashovement in funds to net cashvement in funds to net cashement in funds to net cashment in funds to net cashent in funds to net cashnt in funds to net casht in funds to net cash in funds to net cashn funds to net cash funds to net cashunds to net cashnds to net cashds to net cashs to net cash to net casho net cash net cashet casht cash cashashshh flow from operating activitieslow from operating activitiesow from operating activitiesw from operating activities from operating activitiesrom operating activitiesom operating activitiesm operating activities operating activitiesperating activitieserating activitiesrating activitiesating activitiesting activitiesing activitiesng activitiesg activities activitiesctivitiestivitiesivitiesvitiesitiestiesiesess
2022 2021
£ £
Net income/(expenditure) for the year 277,843 340,475
Adjustments for:
Depreciation charge 1,760 1,244
Loss/(profit) on sale of fixed assets - 1,182
Dividends, interest and rents from investments - (2)
Decrease/(increase) in debtors (80,905) (48,902)
Increase/(decrease) in creditors 4,620 (17,360)
Net cash provided by/(used in) operating activities 203,318 276,637
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