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← Autism Ventures

2024-03-31-accounts

Charity registration number 1137068 (England and Wales)

Charity registration number 043186 (Scotland) Company registration number 07260299 (England and Wales)

AUTISM VENTURES

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

AUTISM VENTURES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr N Grogan Mr A Grainger Mrs E V Slater Mr M P Nash Secretary Mr A Grainger Charity number (England and Wales) 1137068 Charity number (Scotland) 043186 Company number 07260299 Registered office Sefton House Bridle Road Petersfield House Bootle L30 4XR Auditor DSG Castle Chambers 43 Castle Street Liverpool L2 9TL

AUTISM VENTURES

CONTENTS

Page
Trustees report 1 - 4
Statement of trustees responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 23

AUTISM VENTURES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's purpose as set out in the objects contained in the company’s memorandum of association are:

“To promote the relief, personal development and education of children and people with an autistic spectrum condition. Without prejudice to the generality of the foregoing, the relief of unemployment in such ways as may be thought fit, including assistance to find employment”

The charity aims are:

Public benefit

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.

The charity aims to work in partnership with all people we support, helping them to develop successful and independent communication skills, according to individual strengths, needs and preferences, within a total communication environment. Autism Ventures offers a learning opportunity to each person, addressing the areas of communication, social interaction and flexibility of thought, which has regard for their personal goals. It is the overall objective to make people feel good about themselves and raise their self esteem. This enables each individual to enjoy more successes at a level achievable for them and so take greater pleasure in life.

How our activities deliver public benefit

The charitable activities focus on meeting the needs of people with Autism Spectrum Conditions and are undertaken to further the charitable purposes of public benefit.

Autism is found in people of all ages, religions, countries and societies. Equal access to its services is an important issue for us. Autism Ventures has an equal opportunity policy and diversity statement, which ensures that the charity has a culture, which is reinforced via its robust training program, which ensures equality of access to the services by gender, disability and sexual orientation. We believe equal access to the services is vital to our success, and that successful outcomes must be shared by all communities that use the services.

AUTISM VENTURES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Achievements

We have increased opening hours into the evening at MeCycle, a social enterprise cycle shop and café, to increase sustainability and opportunities for young people.

We have achieved funding for and recruited a specialist support worker working across all enterprises who will further improve our ability to support greater numbers of young people and further enhance our quality service.

There has been a large increase in numbers of referrals and in people we support this year, currently 21. The number of schools using our services also continues to increase and is now standing at 8.

We value the contribution autistic people make in our workplace and whilst promoting this to others we also employ autistic people within our team.

Performance that Demonstrate our Specialism

The Work Placement Coordinator and Specialist Support Worker work across social enterprise assessing peoples’ needs, working with them to ensure that we deliver appropriate specialist support, thereby planning and ensuring that we achieve outcomes that will make a difference to their lives.

Supported work placements within Autism Ventures can;-

Financial review

Income was £793,711 (2023: £657,486) for the year which included a donation of £115,026 (2023: £128,257) from Autism Initiatives (UK) and £37,315 (2023: £17,021) from Autism Initiatives Group. Resources expended were £793,711 (2023: £657,486) for the year. For the year ended 31 March 2024 Autism Ventures has reported a surplus of £nil (2023: £nil).

Principal source of funding

The principal source of funding for the charity, aside from trading profits is grant and donation income, details of which can be found in the notes to the accounts.

Reserves policy

It is the policy of the charity that unrestricted funds, excluding fixed assets, which have not been designated for a specific use should be maintained at a level equivalent to between two and three months of expenditure. This is to allow the charity to be managed efficiently, and provide a buffer for uninterrupted services.

At 31 March 2024 , there is a surplus on general free reserves of £51,972 (2023: £54,315). The trustees are aware of the current level of free reserves and expect it to increase to the required level in future years. The trustees are of the opinion that the level of free reserves does not impact on the Charity’s ability to meet its day-to-day activities due to the continuing support of the parent Charity, Autism Initiatives Group and fellow group charity Autism Initiatives (UK).

AUTISM VENTURES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Risk policy

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

We are piloting outdoor summer placements in 2024 for young people who may want to experience a supported placement for the first time, as a holiday activity or without the commitment of a full term.

We plan to upgrade cooking and baking equipment within the kitchen at A Great Little Place, a social enterprise café, to increase our offer to customers and work experience opportunities.

We are planning a series of evening and seasonal events to increase income, to better engage with the local community and to provide a greater variety of work placement opportunities and skills for young people.

Structure, governance and management

Governing document

Autism Ventures is a company limited by guarantee and is governed by its Memorandum and Articles of Association incorporated 20th May 2010. Autism Ventures is registered with the Charities Commission, number 1137068 and with the office of the Scottish Charity Registrar, number SC043186.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr N Grogan Mr A Grainger Mrs E V Slater Mr M P Nash

Membership

Autism Initiatives Group is the sole member until such time as the subscriber appoints other members, goes into liquidation or is subject to receivership.

Trustee body

There are currently four trustees (who are also the directors of the company for the purpose of company law) who oversee the activities of the charity. Trustees give their time voluntarily and receive no benefits from the charity. Trustees work within the code of conduct and good practice as set out by the Charities Commission.

Executive management

The Chief Executive of Autism Initiatives Group has global responsibility for all group operations, including the implementation of the policy and strategic direction of the organisation. The Chief Executive is the interface between the governance and management functions of the organisation.

The Chief Executive has an executive management team with all directors having specific responsibilities in their own area that they form the executive group advising on the corporate and strategic direction of the organisation, reporting directly to the Chief Executive.

Organisational structure

The parent charity, Autism Initiatives Group provides a team of executive staff to manage the day-to-day operations of Autism Ventures and to report to the Board of Trustees.

AUTISM VENTURES

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Risk management

The trustees have a risk management strategy that comprises of:

This work is ongoing and the particular formulation of the risks identified through the procedure allow for the contingency plans to be drawn up through the identified risk procedure, the main focuses being corporate risk. The charity also has a robust risk management procedure that looks at the direct risks faced by the individuals that are supported directly by the charity.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The trustees report was approved by the Board of Trustees.

Mr N Grogan Mr A Grainger Trustee Trustee 16 August 2024

AUTISM VENTURES

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Autism Ventures for the purpose of company law, are responsible for preparing the Trustees 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 charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

AUTISM VENTURES

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF AUTISM VENTURES

Opinion

We have audited the financial statements of Autism Ventures (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 responsibilities 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 relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

AUTISM VENTURES

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF AUTISM VENTURES

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives 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 economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

AUTISM VENTURES

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF AUTISM VENTURES

Capabiliy of the audit in detecting irregularities,including fraud

Based on our discussions with the charity’s management and the Trustees, we identified that the following laws and regulations are significant to the entity:

• Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards and Charity Law.

• Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, fundraising regulations, safeguarding and health and safety legislation.

These matters were discussed amongst the engagement team at the planning stage and the team remained alert to non-compliance throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our 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 and to the regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body,and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jean Ellis BA FCA CTA (Senior Statutory Auditor)
for and on behalf of DSG 16 August 2024
Chartered Accountants
Statutory Auditor Castle Chambers
43 Castle Street
Liverpool
L2 9TL

AUTISM VENTURES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
152,341
41,796
Charitable activities
4
599,574
-
Total income
751,915
41,796
Expenditure on:
Charitable activities
5
751,915
41,796
Total expenditure
751,915
41,796
Net income for the year/
Net movement in funds
-
-
Fund balances at 1 April
2023
63,656
-
Fund balances at 31
March 2024
63,656
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
194,137
145,278
24,668
599,574
487,540
-
793,711
632,818
24,668
793,711
632,818
24,668
793,711
632,818
24,668
-
-
-
63,656
63,656
-
63,656
63,656
-		 Total
2023
£
169,946
487,540
657,486
657,486
657,486
-
63,656
63,656

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

AUTISM VENTURES

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
9
Current assets
Stocks
10
22,372
Debtors
11
78,498
Cash at bank and in hand
143,779
244,649
Creditors: amounts falling due within
one year
12
(192,677)
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 £
11,684
51,972
63,656
63,656
63,656		 2023
£
24,603
50,352
70,246
145,201
(91,066)		 £
9,521
54,135
63,656
63,656
63,656

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 16 August 2024

Mr N Grogan Mr A Grainger
Trustee Trustee

Company registration number 07260299

AUTISM VENTURES

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
19
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(5,582)		 £
79,115
(5,582)
-
73,533
70,246
143,779		 2023
£
-		 £
59,802
-
-
59,802
10,444
70,246

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Autism Ventures is a private company limited by guarantee incorporated in England and Wales. The registered office is Sefton House, Bridle Road, Petersfield House, Bootle, L30 4XR. The principal activities of the charity are disclosed in the Trustees' report.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

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

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees consider that it is appropriate to prepare the accounts on a going concern basis as the charity will be able to meet its liabilities as they fall due, due to the continuing support of the Autism Initiatives Group. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

The specific policies used are as follows:

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Restricted expenditure is set against restricted income.

The specific bases used are as follows:

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over the life of the lease Fixtures, fittings & equipment Motor vehicles 33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Freehold land is not depreciated.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

Derecognition of financial assets

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

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
152,341
1,246
Grants receivable for core
activities
-
40,550
152,341
41,796
Donations and gifts
Autism Initiatives (UK)
115,026
-
Autism Initiatives Group
37,315
-
Local fundraising
-
-
Other
-
1,246
152,341
1,246
Grants receivable for core activities
Charitable trust income
-
40,550
-
40,550		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
153,587
145,278
3,548
40,550
-
21,120
194,137
145,278
24,668
115,026
128,257
-
37,315
17,021
-
-
-
3,548
1,246
-
-
153,587
145,278
3,548
40,550
-
21,120
40,550
-
21,120		 Total
2023
£
148,826
21,120
169,946
128,257
17,021
3,548
-
148,826
21,120
21,120

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Income from charitable activities

Income from charitable activities
Analysis by fund
Unrestricted funds		 Total
2024
£
599,574
599,574		 Total
2023
£
487,540
487,540

5 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Purchases for resale
Insurance
Repairs and renewals
Management fees
Utilities
Cleaning and maintenance
Bank charges
Local fundraising expenditure
Growing business expenditure
Vehicle and transport costs
Office costs
Rent and rates
Legal and consultancy
Miscellaneous costs
Analysis by fund
Unrestricted funds
Restricted funds		 Total
2024
£
461,263
3,419
190,829
6,069
16,659
1,095
13,883
10,407
8,015
10,876
1,405
3,479
5,887
52,768
1,689
5,968
793,711
751,915
41,796
793,711		 Total
2023
£
380,303
8,297
163,699
5,872
9,691
3,323
9,788
11,304
8,685
3,216
1,809
3,028
3,815
38,086
2,473
4,097
657,486
632,818
24,668
657,486

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses in the year.

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Employees

The average monthly number of employees during the year was:

Administration
Managers
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
10
3
13
2024
£
426,271
27,357
7,635
461,263		 2023
Number
10
3
13
2023
£
353,786
20,836
5,681
380,303

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The parent charity, Autism Initiatives Group, provide the key management staff.

8 Taxation

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

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9
Tangible fixed assets
Leasehold
improvements
Fixtures,
fittings &
equipment
£
£
Cost
At 1 April 2023
94,055
-
Additions
-
5,582
At 31 March 2024
94,055
5,582
Depreciation and impairment
At 1 April 2023
88,797
-
Depreciation charged in the year
1,382
814
At 31 March 2024
90,179
814
Carrying amount
At 31 March 2024
3,876
4,768
At 31 March 2023
5,258
-
10
Stocks
Finished goods and goods for resale
11
Debtors
Amounts falling due within one year:
Trade debtors
Amount owed by parent undertaking
Amounts owed by fellow group undertakings
Other debtors
Prepayments and accrued income		 Motor
vehicles
£
9,650
-
9,650
5,387
1,223
6,610
3,040
4,263
2024
£
22,372
2024
£
8,943
-
61,499
2,556
5,500
78,498		 Total
£
103,705
5,582
109,287
94,184
3,419
97,603
11,684
9,521
2023
£
24,603
2023
£
7,064
22,864
12,326
2,301
5,797
50,352

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

12
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
Trade creditors
Amount owed to parent undertaking
Other creditors
Accruals and deferred income
13
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
25,149
84,043
15,686
56,418
1,325
10,056
192,677
2024
£
7,635		 2023
£
20,263
55,239
7,033
-
1,175
7,356
91,066
2023
£
5,681

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds
Balance at Income Expenditure Balance at Income Expenditure Balance at
1 April 2022 1 April 2023 31 March 2024
£ £ £ £ £ £ £
Me-Cycle: Other Grants and Donations - 9,168 (9,168) - 375 (375) -
WeGrow: Other Grants and Donations - 3,547 (3,547) - 1,870 (1,870) -
Placement grants - 10,184 (10,184) - - - -
SFTA Salary grants - 1,768 (1,768) - - - -
FPC Foundation - - - - 2,240 (2,240) -
LCVS Community Impact - - - - 2,000 (2,000) -
Florence Trust - - - - 35,311 (35,311) -
- 24,667 (24,667) - 41,796 (41,796) -

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14 Restricted funds

(Continued)

MeCycle: Other Grants and Donations – a number of grants and donations received from various charitable trusts and donors towards the work of the Me-cycle social enterprise. Monies received in the year included grants from LWS Community Resilience Fund and was spent during the year.

WeGrow: Other Grants and Donations - grants and donations received from charitable trusts and donors towards the work of the WeGrow social enterprise. Monies received in the year included grants from Brabners and Charles & Edna Broadhurst. All monies spent during the year.

Placement Grants – a number of grants and donations received in prior year from various charitable trusts and donors towards the supporting of work placements at the Social Enterprises.

SFTA Salary Grants – grants received in prior year towards salary costs from Sefton Council.

FPC Foundation - grant received for a pilot alternative education provision.

LCVS Community Impact - grant received towards core costs for social enterprises.

Florence Trust - donated a significant grant for future developments of the current and potential future social enterprises. During the year £35k was allocated against core and capital costs for the development of the MeCycle and WeGrow enterprises with the agreement of the Trust.

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 63,656 751,915 (751,915) 63,656
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
General funds 63,656 632,818 (632,818) 63,656

16 Related party transactions

There were no disclosable related party transactions during the year (2023: none).

17 Controlling party

At the year end, the ultimate controlling party was Autism Initiatives Group, a company incorporated and registered in England and Wales. The registered office is Sefton House, Bridle Road, Bootle, Merseyside, L30 4XR. Autism Initiatives Group prepares consolidated financial statements which include Autism Ventures.

18 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
22,000
56,833
78,833		 2023
£
22,000
78,833
100,833

AUTISM VENTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

19 Cash generated from operations 2024 2023
£ £
Deficit for the year - -
Adjustments for:
Depreciation and impairment of tangible fixed assets 3,419 8,297
Movements in working capital:
Decrease/(increase) in stocks 2,231 (6,201)
(Increase)/decrease in debtors (28,146) 34,529
Increase/(decrease) in creditors 72,807 (12,710)
Increase in deferred income 28,804 35,887
Cash generated from operations 79,115 59,802

20 Acknowledgements

Autism Ventures is extremely grateful to all of our funders and donors who have generously given grants and donations to support our work over the last year. Each donation is generous in its own right and can provide valuable support to us and the people we support, parents and other care professionals. In particular we would like to thank:

The Florence Discretionary Settlement Lord Hanson Foundation The Skelton Charity FPC Foundation Living Well Sefton Community Resilience Grant Round 3 The Grocers Charity The Charles & Edna Broadhurst Trust