VASD The Voluntary A$soclaNon loi Suffoy Dlsobled Umlted
VASD
making your life easier
THE VOLUNTARY ASSOCIATION
FOR SURREY DISABLED LTD
Financial Statements
For the year ended
31 March 2021
CHARITY NO. 1143985
COMPANY REGISTRATION NO. 07759768
ststutory Report Accounts- Year Ended 31 Mar¢h 2021

VASD The Voluntary Assoclatlon tor Surrey Dlsabled Llmlled
LEGAL AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 MARCH 2021
BOARD OF TRUSTEES
QUEEN ELIzAB￿H's FOUNDATION FOR DISABLED
PEOPLE made up of:
MOIRA BOWE
GORDON BOWSER
ALICE COLLINS
MICHAEL CONNAUGTON
TIMOTHY JASON DAVIES
JOHN DENNING
PETER GORDON {￿signed 31 May 20211
ABIGAIL PRICE
LYNN SCOTCHER (resigned 10 De￿mber 20201
ELIZABETH SHARP
DIREcfoRS
MOIRA BOWIE
GORDON BOWSER (appointed 15 June 2021)
TIMOTHY JASON DAVEES
PETER GORDON Iresigned 31 May 2021)
CHIEF EXECUTIVE
KAREN DEACON
COMPANY SECRFfARY
PHILIP KIRK
REGISTERED OFFICE
LEATHERHEAD COURT
WOODLANDS ROAD
LEATHERHEAD
SURREY
KT22 OBN
BANKERS
NATIONAL WESTMINSTER BANK PLC
WIMBLEDON BRANCH
16 WIMBLEDON HILL ROAD
LONDON
SW19 7ZD
INDEPENDENT AUDITORS
MOORE KINGSTON SMITH LLP
DEVONSHIRE HOUSE
60 GOSWELL ROAD
LONDON
ECIM 7AD
StabJtory Report and Accounts- year ended 31 March 20."EL

VASD The Volvnlary Assocl(rtion for Suffoy Dlsabled Llmlted
CONTENTS
Trustees Report
page 4
Main Activities
page 5
structure, Governance and Management
page 5
Financial Review
page 7
Statement of Trustees, Responsibilities
page 8
Independent Auditors, Report to the
Members of The Voluntary Association
for Surrey Disabled Limited
page 10
Balance Sheet
page 16
Statement of Financial Activities
page 17
Notes to the Financial Statements
page 18
stsbJtory Report Jnd Accounts- ye¥r ended 31 MJrch 2021

VASD The Voluntary A$$oclalSon for Surrey Dl$abled Llmlled
TRUSTEES REPORT
The Trustees are pleased to present their Report and Financial
Statements for the year ended 31st March 2021. The accounts have
been prepared in accordance with the Statement of Recommended
Practice applicable to charities preparing accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of
Ireland issued in July 2014. The report and statements also comply
with the Companies Act 2006.
The Voluntary Association for Surrey Disabled (VASD) is a wholly
owned subsidiary of Queen Elizabeth's Foundation for Disabled People
(QEF).
Objects of the Charity
The object of the charity is to promote independence by providing
high quality services to disabled people with low to moderate needs
in Surrey.
Vision and Strategic Direction
VASD provides a friendly and informative service with advice on,
along with the sale and hire, of a wide range of products for disabled
people ranging from walking aids and wheelchairs to innovative tools
to help with personal care and tasks around the home. VASD also
lends equipment to people who have a temporary need.
Impatted by theThe COVID- 19 Covid pandemic enforce necessitated
the d closure of the site at Leatherhead Court, where VASD was
located, and the operation of providing advice and products has
beenwas relocated to the QEF Mobility Centre at Carshalton.
Public Benefit
We have referred to the guidance in the Charity Commission's general
guidance on Public Benefit when reviewing our aims and objectives
and in planning our future attivities. In particular, the Trustees
consider how planned activities will contribute to the aims and
objectives they have set.
st?wthry ReportJnd Accounts- YeJr E￿e1 31 MJrth 2021

VASD The Voluntary A$$ocl(thon for Surrey Dlsabled Umlled
MAIN ACTIVITIES
During the financial year, the services provided by The Voluntary
Association for Surrey Disabled Limited (VASD) were severely
impacted by the COVID pandemic, with the service being closed to
all public facing actions from 23rd March 2020.
VASD Ltd helped 10 people with the long-term hire of scooters
throughout the year.
Holiday Homes
The holiday home at Elmer Sands was closed between March and July
2020 due to national restrictions imposed as a result of the pandemic.
With the further ongoing uncertainty of local and national lockdowns
during the year, the property was only occupied for 12 weeks
throughout the year with a total of 28 people staying at the property.
During the enforced lockdowns, VASD was able to receive payments
from the available government grants.
The canal boat (QEF Jubilee) was sold in May 2020 with no bookings
taken prior to the sale.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure
VASD is a company limited by guarantee and is governed by a
Memorandum and Articles of Association. The charity is administered
by the Trustees of QEF who delegate day-to-day management
responsibilities to the Chief Executive and Senior Management Team
of QEF and the Manager of VASD. QEF is a national charity supporting
people with physical and learning disabilities or acquired brain
injuries, to gain new skills and increase independence.
QEF is the 'parent' charity, with VASD operating as a member of the
QEF family of charities. Reference in this report to the 'Trustees'
means the QEF Board of Trustees.
Trustees
Trustees are elected by Members of QEF or co-opted by the Trustees,
based on how their skill set and experience can benefit QEF and
further improve the knowledge of the Board. A formal recruitment
Statutory Report aThJ Accwnts- year ended 31 March 2021

VASD The Voluntary Assoclotlon for Surrèy Dlsobled Llmtted
and selection process is agreed by the Board in advance of all
appointments and is in line with best practice guidance.
As stated in the Memorandum and Articles of Association, one third
(or the number nearest one third) of the Trustees must retire at each
AGM, those longest in office retiring first and the choice between any
equal service being made by drawing lots. A retiring Trustee who is
eligible may be re-elected. If at the date of the AGM a Trustee has
held office for nine consecutive years, since first election, they may
not be re-eletted, except in exceptional circumstance of there being
no other person eligible to be a Trustee and acceptable to the
Members as such.
Risk Management
The Trustees have identified the risks faced by the charityi in
particular those related to the operations and finances of the
company and are satisfied that systems are in place to mitigate its
exposure to these risks.
Key Risks include:
Risk
How this is being mitigated?
COVID19
pandemic and
resulting
lockdowns will
impact
operations and
income
The trustees will continue to utilise all available
government support including the Coronavirus Job
Retention Scheme to protect income during the
pandemic. The situation will be regularly reviewed
and action taken to mitigate losses while ensuring
safety of staff. The service has been relocated to the
EF Mobilit Centre at Carshalton
ststutory RepDrt and AcEounts- year ended 31 Mgrch 2021

VASD The Volunlury As$oclatlon for Surrey Dlsabled Llmlled
FINANCIAL REVIEW
Income and Expenditure
VASD broke-even in the year ended 31 March 2021, compared with
a £46k deficit as reported in 2020. Although the business was closed
for large parts of the year, income was £55k, only £12k lower than
the £67k achieved in 2020. Income in 2021 included government
grants received totalling £32k.
Due to the closures, costs were significantly lower at £55k, down
£58k on the prior year.
Balance Sheet
Total accumulated funds increased from £912k in 2020 to £917k at
the end of the financial year.
Going Concern
The directors consider that the Company is a going concern. The
association with QEF provides access to increased managerial,
financial and fundraising support which will improve operational
effectiveness and increase donated income.
Reserves Policy
The Board of Trustees reviews the reserves policy of VASD on an
annual basis. The reserves include unrestricted and restricted
reserves. An analysis of the reserves is shown in note 7 of the
financial statements.
The reserves policy is determined after assessing the capital
requirements, considering the nature and timing of income and
expenditure streams and by reviewing the specific business risks
identified through the risk management process. The Board of
Trustees aims to maintain a level of unrestricted reserves not tied up
in fixed assets, which it believes will be sufficient to ensure the
operational efficiency of the charity. The Board of Trustees has
concluded that given the current economic situation the level of free
reserves at the year-end should be three months, worth of operating
expenditure.
Reserves for the charity are calculated using unrestricted net current
assets. As per note 8, these are £609,235 (2020 - £608,132),
divided by the average monthly operating expenditure of £4,606. At
the end of the year free reserves were approximately 11 years.
The parent company, QEF, calculates the resources required for the
whole QEF Group, which includes its subsidiaries and specifically
Statutory Keport and Accounts- year ended 31 Mar(h 2021

VASD The Voluntary Assoclatlon for Surrey Dlsabled Umlled
VASD. QEF will ensure that VASD has adequate reserves at all
times.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also directors of QEF for the purposes 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 affairs
of the charitable company and of the incoming resources and
application of resources, including the income and expenditure, of the
charitable company. In preparing these financial statements, the
trustees are required to:
select suitable accounting policies and ,then apply them
consistently.
comply with applicable accounting standards, including FRS
102, subjett to any material departures disclosed and
explained in the financial statements.
state whether a Statement of Recommended Practice (SORP)
applies and has been followed, subject to any material
departures which are explained in the financial statements.
make judgements and estimates that are reasonable and
prudent.
prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the charitable
company will continue in business.
The trustees are responsible for keeping adequate accountlng records
that are sufficient to show and explain the charitable company's
transactions and disclose with reasonable accuracy at any time the
financial position of the charitable company 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
company and hence for taking reasonable steps for the prevention
and direction 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 auditor is unaware.
Statutory Report and ACCOunts- year ended 31 Ma￿h 2021

VASD The Voluntary Associatlon for Surrey Dl$abled Llmtted
The trustees have taken all the steps that they ought to have
taken to make themselves aware of any relevant audit
information and to establish that the company's auditors are
aware of that information.
AUDITORS
The auditors, Moore Kingston Smith LLP, have indicated their
willingness to continue in office, and a resolution concerning their
reappointment will be proposed at the next Annual General Meeting.
SMALL COMPANY RULES
This report has been prepared in accordance with the provisions
applicable to companies entitled to the small companies exemption.
BY ORDER OF THE BOARD
T J Davies
Director
Registered Office:
Leatherhead Court
Woodlands Road
Leatherhead Court
Surrey KT22 OBN
ststutory Report an¢ Accounts- veèr ended 31 March 2021

VASD The Voluntary AssoelaNon for Su￿eY Dlsabled Llmlted
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE
VOLUNTARY ASSOCIATION FOR SURREY DISABLED LIMITED
Opinion
We have audited the financial statements of The Voluntary
Association for Surrey Disabled Limited for the year ended 31st March
2021 which comprise the Statement of Financial Activities, the
Balance Sheet and 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 FRS 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:
give a true and fair view of the state of the charitable
company's affairs as at 31st March 2021 and of its incoming
resources and application of resources, including its income and
expenditure, for the year then ended;
have been properly prepared in accordance with United
Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the
Companies Act 2006.
Basis for opinion
We condutted 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 settion 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 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,
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statutory RepDrt and Ac(ounts- year ￿￿ed 31 March 2021

VASD The Volvntory As$o¢lallon lor Surrey Dlsabled Llmtted
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE VOLUNTARY ASSOCIATION FOR SURREY DISABLED
LIMITED (Cont'd)
individually or collectively, may cast significant doubt on the
charitable company'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. 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.
In connection with our audit of the financial statements, our
responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with
the ffinancial statements or our knowledge obtained in 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 there is a material misstatement in
the financial statements or a material misstatement of the other
information. 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.
Opinions on other matters prescribed by the Companies Act
2006
In our opinion, based on the work undertaken in the course of the
audit:
the information given in the trustees, annual report for the
financial year for which the financial statements are prepared
is consistent with the financial statements. and
11
Stètutory Report ènd Account5- ye?r ended 31 Mjrth 2021

VASD Th• Voluntory Assoclollon lor Suffèy Dlsabled Umlled
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE
VOLUNTARY ASSOCIATION FOR SURREY DISABLED LIMITED
{Cont'd)
the trustees, annual report has been prepared in accordance
with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and
its environment obtained in the course of the audit, we have not
identified material misstatements in the trustees, annual report.
We have nothing to report in respect of the following matters where
the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting 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
accounting records and returns. or
certain disclosures of trustees, remuneratlon specified by law
are not made. or
we have not received all the information and explanations we
require for our audit. or
the trustees were not entitled to prepare the financial
statements in accordance with the small companies regime and
take advantage of the small companies exemption in preparing
the Trustees, Annual Report and from preparing a Strategic
Report.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set
out on page 8, the trustees (who are also the directors of the
charitable company for the purposes 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.
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statutory Repoyt JThJ Attounts- yearended 31 March 2021

VASD The Volunlory Assoclatlon for Surrey Dlsobled Llmlted
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE VOLUNTARY ASSOCIATION FOR SURREY DISABLED
LIMITED (Cont'd)
In preparing the financial statements, the trustees are responsible for
assessing the charitable company'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
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 aggregate, they could
reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with
laws and regulations. We design procedures in line with our
responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The extent to which our
procedures are capable of detecting irregularities, including fraud is
detailed below.
Explanation as to what extent the audit was considered
capable of detecting irregularities, including fraud
The objectives of our audit in respect of fraud, are" to identify and
assess the risks of material misstatement of the financial statements
due to fraud. to obtain sufficient appropriate audit evidence regarding
the assessed risks of material misstatement due to fraud, through
designing and implementing appropriate responses to those assessed
risks. and to respond appropriately to instances of fraud or suspected
fraud identified during the audit. However, the primary responsibility
for the prevention and detection of fraud rests with both management
and those charged with governance of the charitable company.
Our approach was as follows:
13
stètutory Repoit di d kttunts- ye Iren¢ed 31 larch 2021

VASD The Voluntary Assoclatlon lor Surrey Dl$abled Llmlted
We obtained an understanding of the legal and regulatory
requirements applicable to the charitable company and
considered that the most significant are the Companies Act
2006 and the Charity SORP, and UK financial reporting
standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charitable company
complies with these requirements by discussions with
management and those charged with governance.
We inquired of management and those charged with
governance as to any known instances of non-compliance or
suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate
audit procedures to identify instances of non-compliance with
laws and regulations. This included making enquiries of
management and those charged with governance and obtaining
additional corroborative evidence as required.
As part of an audit in accordance with ISAS (UK) we exercise
professional judgement and maintain professional scepticism
throughout the audit. We also:
Identify and assess the risks of material misstatement of the
financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the
audit in order to design audit procedures that are appropriate
in the circumstances, but not for the purposes of expressing an
opinion on the effectiveness of the charitable company's
internal control.
Evaluate the appropriateness of accounting policies used and
the reasonableness of accounting estimates and related
disclosures made by the trustees.
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Ststvtory Report Ind Account5- veJr ended 31 March 2021

VASD The Volvnlory Assoclotlon for Surrey Dlsobled Llmllèd
Conclude on the appropriateness of the trustees, use of the
going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt
on the charitable company's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we
are required to draw attention in our auditor's report to the
related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the
date of our auditor's report. However, future events or
conditions may cause the charitable company to cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the
financial statements, including the disclosures, and whether the
financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
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. Our audit work has been undertaken so that we might state to
the company's members 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 any party other than the charitable company and charitable
company's members as a body, for our audit work, for this report, or
for the opinions we have formed.
J.A LLP
7 December 2021 [Date]
Neil Finlayson (Senior Statutory Auditor)
for and on behalf of Moore Kingston Smith LLP, Statutory Auditor
Devonshire House
60 Goswell Road
London
ECIM 7AD
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Sta￿tOry Report Accounts- ¥eJr ended 31 March 2021

VASD The Volunlary Assoclallon lor Svrrey Dlsabled LlmHed
BALANCE SHEET
AS AT 31 MARCH 2021
2021
2020
Note
Ftxed assets:
Tangib￿ assets
Investments
Total fLYed assets
334,907
4,281
339,188
336,631
3,650
340,281
Current a$$ets
Stocks
Debto
Cash at bank and in hand
Total cu￿ent assets
2,431
584,611
32,000
619,042
2,382
609,048
9,846
621,276
Creditors
Amounts falling due W￿hn one
year
9,807
13,144
Net current as5etS
609 235
608,132
Amounts falling due after
more than one year
mu￿1 Employer penS￿n
Scheme PmvisK)
(31,032)
(36,769)
Net assets
917 391
911 644
Accumulated funds
un￿5tr￿ted.. General
Permanent Endowment Fund
Total accumulated funds
587,391
330,000
917 391
581,644
330,000
911 644
Approved by the Tnjstees on 24 November 2021 and sfvJned on ts beha￿ by:
T J DaV￿S
Director
The annexed notes form part of these financlal statements
Company Registration Number.. 07759768
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StawtQry Report ar￿ ACCOunts- year end2d 31 Marth 2021

VASD The Voluntary As50claNon for Surrey Dlsabled ￿rn￿ed
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2021
2021
2021
Permanent
Endowment
Fund
2021
2020
Total
Funds Total Funds
Notès Unrestricted
INCOME AND ENDOWMENT
Donations and legacies
Business Grants
Charltable attivites
Investment Income
io
io
io
io
5,856
32,084
16,714
631
5,856
32,084
16,714
631
7,850
58,718
128
Total op¢r•tlTr9 Income
55,285
55,285
66,696
EXPENDITURE
Charitable actlvltles
Loss on disposal of FA
li
li
55,275
55,275
104,365
8,697
Total operatlng expenditur¢
55,275
55,275
113 063
Nèt operatlng Income /
(expenditur¢)
io
io
146,367)
Net galns/(losses} on
investment assets
Net Income l expènditure
io
io
{46,367)
ILossl/Eain on multi employer
deflned benefit pension stheme
15
5,737
5,737
7,835
Net movement In funds
5,747
5,747
{38,532}
Total funds brought forward
581,6M
330,000
911,644
950, 176
Total funds carrled forward
330 000
917 391
911 644
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s￿￿tory Report Jn¢ Accounts- Veèr 31 Mèrch Z021

VASD Thè Volunlory Assoclallon for Su￿eY Dlsabled Llmlted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
I ACCOUNTING POLICIES
Company Status
The company is limited by guarantee, has no share capital and the liability
of each member is limited to a Sum of no more than £10 in the event of a
winding up.
Principle Accounting Policies
The financial statements are prepared under the historical cost convention
and in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland {FRS102). The company is a public benefit entity
for the purposes of FRS102 and therefore the Charity also prepares its
financial statements in accordance with the Statement Of Recommended
Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Structure applicable in the UK and Republic of
Ireland (The FRS102 Charities SORP) and The Companies Act 2006.
summary of the more important accounting policies, which have been
applied consistently are set out below.
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 pound.
Going Concern
The trustees have assessed whether the use of the going concern basis is
appropriate and have considered possible events or conditions that might
cast significant doubt on the ability of the charitable company to continue
as a going concern. The trustees have made this assessment for a period
of at least one year from the date of the approval of these financial
statements. In particular the trustees have considered the charitable
company's forecasts and projections and have taken account of pressures
on donation income.
The COVID-19 pandemic has resulted in additional measures requlred to
ensure the future sustainability. The trustees will continue to utilise all
available government support including the Coronavirus Job Retention
Scheme to protect income during the pandemic. As VASD is based within a
QEF owned building, there are minimal overhead costs during a lockdown.
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StabJtory Keport and ACCOurts- year tnded 31 Ma￿￿ 2021

VASD The Voluntary AssoclaKon for Surrey Dl$abled Umlted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
The situation will be regularly reviewed and action taken to mitigate losses
while ensuring safety of staff.
After making enquiries, the trustees have concluded that there is a
reasonable expectation that the charitable company has adequate
resources to continue in operational existence for the foreseeable future.
The charitable company therefore continues to adopt the going concern
basis in preparing its financial statements.
Incoming resources
All income is recognised on an accruals basis with the exception of grants
and donations which are included when receivable.
Government grants are recognised at the fair value of the asset received or
receivable when there is reasonable assurance that the grant conditions will
be met and the grants will be received.
A grant that specifies performance conditions is recognised in Income when
the performance conditions are met. Where a grant does not specify
performance conditions, it is recognised in income when the proceeds are
received or receivable. A grant received before the recognition criteria are
satisfied is recognised as a liability.
All income is recognised when there is entitlement to the funds, the receipt
is probable and the amount can be measured reliably.
Fixed Assets and Depreciation
Assets are purchased from donations and grants and are shown as direct
charitable expenditure from the fund concerned.
All fixed assets, with a value over £1,500 are capitalised at cost and
depreciated to their estimated residual value over their estimated useful
lives, as follows..
Freehold Buildings
Leasehold property
2010 Straight line
Straight line over 21 years
At the end of each accounting period the residual values and useful lives of
a55ets are reviewed and adjusted if necessary. In addition, if events or
change in circumstances indicate that the carrying value may not be
recoverable then the carrying values of tangible fixed assets are reviewed
for impairment.
19
statutory Report and Ac￿nts- year end*J 31 March 2021

VASD Thè Voluntary A350cl¢Jllon for Surrey Dlsabled Llmtted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
Stocks
Stocks comprise items purchased for resale and are stated at the lower of
cost or net realisable value, after making due allowance for obsolete and
slow moving stock.
Resources Expended
Direct charitable expenditure, provision of holidays, purchases of disability
equipment, support costs, fundraising and publicity and the cost of
governance of the charity have been allocated between these headings
directly to the relevant expense for which the cost was incurred. Where
costs cannot be specifically identified within one of the above categories an
estimated allocation has been made.
Expenditure is recognised on an accruals basis.
Operating Leases
Rentals payable under operating leases are charged on a straight-line basis
over the term of the lease.
Pensions
Some staff participate in the Pension Trust scheme. This is a defined benefit
scheme. Contributions are charged on an accrual basis.
Taxation
As the company is a registered charity, it is exempt from corporation tax
on its charitable activities.
Cash Flow
The company is exempt from the requirement to prepare a cash flow
statement as it is a wholly owned subsidiary of the Queen Elizabeth's
Foundation for Disabled People and its cash flows are consolidated into the
cash flow statement of that company.
Unrestricted Funds
These are donations and other incoming resources receivable or
generated for the objects of the Charity without further specified purpose
and are available as general funds.
Designated Funds
Designated funds are unrestricted funds earmarked by the Trustees for a
particular purpose.
20
ststutory Report Ind Accounts- vejrended 31 Ma￿h 2021

VASD The Voluntary Assoclatlon for Surrey Dlsabled Llmlled
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
Permanent Endowment Fund
The endowment fund represents the written down value of one bungalow
which cannot be sold but is used as a holiday property for disabled people.
Restricted Funds
These are funds to be used for the specific purposes laid down by the
donor. See note 7 for more details of restricted funds. Expenditure which
meets these criteria is charged to the fund.
other financial instruments
Cash and cash equivalents
Cash and cash equivalents include cash at banks and in hand and short
term deposits with a maturity date of three months or less.
Debtors and creditors
Debtors and creditors receivable or payable within one year of the reporting
date are carried at their transaction price. Debtors and creditors that are
receivable or payable in more than one year and not subject to a market
rate of interest are measured at the present value of the expected future
receipts or payment discounted at a market rate of interest.
Fixed Asset Investments
Investments are a form of basic financial instrument and are initially
recognised at their transaction value and subsequently measured at their
fair value as at the balance sheet date using the closing quoted market
price. The statement of financial activities includes the net gains and losses
arising on revaluation and disposals throughout the year.
Critical Accounting Estimates and Areas of Judgement
In preparing financial statements it is necessary to make certain
judgements, estimates and assumptions that affect the amounts recognised
in the financial statements.
In the view of the trustees in applying the accounting policies adopted, no
judgements were required that have a significant effect on the amounts
recognised in the financial statements nor do any estimates or assumptions
made carry a significant risk of material adjustment in the next financial
year.
21
Stscvtory Rei Jrt ?nd Accc Jnts- yejr eThJed 31 MJrch 2021

VASD The Volvntary AssoclaHon lor s￿￿eY Dlsabled Llmlted
NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31
MARCH 2021 (Cont'd)
TANGIBLE FIXED ASSETS
Freehold
property
Equlpment
Total
Cost at 1.4.20
Additlons
Dlsposals
Cost at 31.3.21
330,000
16, 181
346,181
330 000
346 181
Depreclatlon at 1.4.20
Charge for year
0Ssposals
Depreciation at 31.3.21
9,550
1,724
9,550
1,724
NEf BOOK VALUE at 31.3.21
330,000
4,907
334,907
NET BOOKVALUE at 1.4.20
330 000
336 631
The hSstorlcal cost of the Freehold property Is £458,45012020.. £458,450)
FIXED ASSET INVESTMENTS
2021
Total
2020
Total
Quoted Jnvestments
Market value as at 1.4.20
Unrealised Ilossllgaln
3,650
631
3,650
Market value as at 31.3.21
STOCKS
2021
Total
2020
Total
stock Value
Stocks comprlse Items purchased for resale and are stated at the lower of cost or net reallsable value,
after maklng due allowan￿ for obsolete and slow moving Stock.
DEBTORS
2021
Total
2020
Total
Prepayments
Amount due from parent organi5ation
Amount due from QEF Tradlng
Amount due from hollday booklngs
other Debtors
981
572,491
1, 149
9,346
644
633
596,605
1, 149
LO,661
609 048
22
sta￿tOry RepDrt ènd A((uunts- yeèrended 31 Marth 2021

VASD The Voluntary As$ocl(rtlon for Surrey Dlsabled Llmlted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
CREDITORS & DEFERRED INCOME
2021
Total
2020
Total
AccrLJals
Deferred Income
Sundry Creditors
VAT
4,444
3,412
1,950
2,780
10,706
(3551
13
The deferred income is in respect of the income recelved for the provlslon of holldays post year end.
STATEMENT OF FUNDS
Bèlance at
Balance at
31 March
2021
l Aprll
2020
Incomlng
Resources
Outgoing
ResovKe$
Unrestrrcted Funds:
General Fund
Penslons (See note 1S}
544,875
61,023
49,538
556,359
581,644
61,023
55,275
587,391
Re$trl¢ted Funds:
Equipment Fund
Endowment Fund:
Elmer Sands property
330 000
330 000
Total All Funds
911 644
917 391
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted
General
Fund Total 2021
2021
Endowment
Fund
Tangible fixed assets
Investments
Current assets
Current liabilities
Penslon Defiot
330,000
4,907
4,281
619,042
19,807)
334,907
4,281
619,042
{9,8071
330 000
587 391
917 391
Unrestricted
General
Fund
2020
Endowment
Fund
2020
Tangible fixed a55ets
Investments
Current assets
Current liabilities
Pension Deficit
330,000
6,631
3,650
621,276
113,1441
336,631
3,650
621,276
113,1441
330 000
581 644
911 644
23
ststutory aeport and Ac¢Dunts- year ￿ded 31 Mwrth 2021

VASD The Voluntary AssoclaHon for Surrey Dlsabled Llmlled
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
RECONCILIATIOf4 OF MOVEMENT IN FUNDS
2021
Total
2020
Totsl
Openiw fvr￿s
Net mtrvÈments of resour￿S in year
Closing funds
911,644
950,176
917 391
io
INCOME AND ENDOWMENT
2021
Total
2020
Total
Donabon5 and le96cie5
Busine%$ Grants
Charitable attivities
Investment IrKome
5,8
32,084
16,714
631
7,850
58,718
128
l of the ujrrent and a)rnparative year incorne w65 unrestricted
Income frorn &Jsiness Grants in 2021 comprises incorne recelved from government coronavlrus support
initiatives.. £19k frorn the Retail, Hospitslity and Leisure fund and £13k from the Coronavirus Job
Retention Scheme.
li
TOTAL RESOURCES EXPENDED
2021
2021
2021
2021
Strff Costs Depreclotton Other Costs
Total
Provision of holidays
Provision of dis4bility
equipment
Support costs
Fundraising and publicity
Audit ar￿ accountancy
10,999
10,999
290
41,706
24,991
1.724
14,991
2020
2020
2020
2020
Stsff Costs Depr¢¢i•tlort other Costs
Total
Provision of holidays
Provision of disability
equipment
Support costs
Fundraislng and publicity
Audlt arK1 accountsncy
19.101
20,081
6,226
40,434
6,226
84,475
41,339
2,702
113 063
12
OPERATING INCOME
2021
Total
2020
Total
Surplus/lDefidtl before Audknrs Remunerètion and Depretiation of Fixed
9.751
(32,5701
Thls Ss stated after charging..
Auditors Renumeratlon
DepreciatSon of TaThJlNe Flxed ￿SSets
2.280
2.28D
24
sta￿tOry RepDrt and Accounts- year ended 31 March 2021

VASD The Voluntary Assoclatlon for Surrey D15ubled UM￿ed
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
13
EMPLOYEES
Full time
2021
FUTI tlme
2020
Part tlme
2021
Part tlme
2020
The average number of employees wa5..
2021
2020
staff costs:
Salaries
So¢ial Security Costs
Pension costs
Health Scheme
23,455
500
864
171
30,984
1,430
1,413
iio
Key rnanagement personnel are all employees based In the shop at head office.
The total employee benefits of the Chèrity's key management personnel were £12,338 12020.. £33,937).
No expenses were reimburyed to the Trustees and no remuneratyon was pald to the Trustee5 during the
current or previous years.
14
VAWE ADDED TAX
VASD, belng a reglstered charity. is unable to recover part of the VAT incurred on Its expendlture. Where
applicable, expenditure ha5 been shtswn including any Irrecoverable VAT. All expenditure in the current
and comparative year related to unrestricted funds.
15
PENSION COmMITMEr￿S
At the balance sheet date the￿ was one employee who was an active member of the Pensions Trust
Growth Plan 3. The plan is a multi-etnployer defined benefit ￿nsIOn plan and the member of the
schetne paid Contributions at a rate of 7Wo basic salary. Employer contributions were also 7% of salary.
In the twelve rnonths to 31 March 2021 the employer made ¢0ntdbu￿OnS of £864.48 12020.. £994.71).
There were nts Outstanding contributions at the end of the year.
The company participates in the xheme, a multl-employer scheme which provides benefits to some 950
non-assoclated par￿CIpatIng ernployers. The scheme 15 a defined beneflt scheme in the UK. It is not
possible for the company to obtain 5uffi¢ient informatlon to enable it to account for the scheme as a
defined benefit scheme. Therefore it accounts for the schetne as a defined Contributlon scheme.
The scheme is subject to the funding leglslatlon outlined in the Pensions Act 2004 which ratne in to for
on 30 December 2005. This. together with documents issued by the Pensions Regulator and Technical
Actuarial Standard5 issued by the Financial Reportlng Council, set out in the framework for funding
defined beneflt occupational pension schemes in the UK.
The scheme is classified as a 'last-tnan stsnding arrangement,. Therefore the company is pjtentially
liable for other parb¢iPating employers, obligations if those employers are unable to meet their share of
the scheme deficit following withdrawal from the scherne. Parti¢ipating employers ère legally required to
meet their share of the Scheme deficit on an annulty purchase basis on withdrawal from the scheme.
A full att￿a￿al Valua￿on for the scheme was carried out at 30 September 2017. Thls valuatlon showed
assets of £794.9m, liabilities of £926.4m and a deficlt of £131.5m. To eliminate this funding shortfall, the
Trustee has asked the partlclpating employers to pay additional contributions to the scheme as follov4S.'
Def5cSt contributiiins
From l Aprll 2019 to 31 January 2025..
É11.243m per annum
{payable monthly and increasing by 3% each on l April)
Unless a concession has been agreed with the Trustee the term to 31 january 2025 applies.
Note that the scheme's previous valuatlon was carried out with an effective date of 30 September 2014.
This valuatlon showed assets of £793.4rn, liabilities of £969.9m and a deficit of £176.5m. To ellminate
this funding shortfall. the Trustee has asked the participatlng employers to pay additional contributions
to the scherne as follow5..
25
statutory Report and AC¢tyJnts- year ￿dtsJ 31 March 2021

VASD The Voluntary Assoclatlon for Surrey Dlsabled Llmtted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
PEIISI¢X4 COMMITMENTS (Cont'd)
Defitit contributions
From l April 2016 to 30 Sep*mber 2025=
E12,945,440 per annum
(payable monthly aad increasng by 30k each on l Npril)
E54.SEA) per annum
(payable monthly ènd inueasng by 3% eath on l April)
From l April 2016 to 30 Sepkmber 2028:
The recovery ￿an contributions are allocated to eath partsopaung employer in line with rheir esrimared
are of the Series l and Series 2 scheme liabilites.
Ithere the ￿erne is in deficit and where the company has agreed to a deficit funding arrangement the
company recognises a liability for this obligation. The amount recognised Is the net present value of the
deFiat reduction contributiNs payable under the agreemenr that relatss to rhe defiot. The present value
Is cal￿1 ated usng the discount Tate detailed in these dI￿OsIres. The unwinding of rhe discounr rate is
cogftised as a finantr cost.
Present value of provisio
31 March
2021
31 March
2020
31 March
2019
Present value of provison
Reconciliation fA opening and clos•ng prrwtsion5
3 1 March
2021
31 March
2020
Provision at srart ol period
Lknwinding of the discount factor (interest expense)
Defio r contribution paid
Remeasjrements - impact ol any thanges in aswmptions
Remea9Jrements - amendments to the ctsntributson sthedule
Prowsion at end of period
36,769
826
(7,6241
1,061
17,402)
{997)
Income and expemdityre impact
3 1 March
2021
31 March
2020
Interest expense
Remeagjremenrs - impact of any thanges in aS￿Mp￿.0ns
Remeasjrements - amendments to the contnbution sthedule
Contribufions paid in respect of future servi
Costs recognised in income and expenditure account
826
I,c61
{9)7)
Assunwtions
31 March
2021
8*9 per
annum
31 March
2020
Wo per
annum
31 March
2019
per
annum
Rate of dixount
2.53
1.39
The discounr rates shown above are the equivalent gn4e discount ra*s whith, when used to discount
the future recovery plan contri bulions due, would give the ￿me re￿It$ as using a full AA corporate bond
yield ojrve to discount the same recovery plan contnbutions.
26
StJwtory Aeport and Accwnts- yeJr end•J 31 2021

VASD The Voluntary Assoclatlon for SuThey Dlsobled Llmlted
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 (Cont'd)
PEf4SION COMMITMENTS (Cont'd)
The following schedule detsils the defldt contrlbutyons agreed between the company and the scheme at
each year end and period..
Defl¢lt contrlbutlons schedule
Year ending
31 March
2021
31 Mar¢h
2020
31 March
2019
Year I
Year2
Year3
Year4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
7.853
8.088
8,331
7,151
7,624
7,853
8,088
8,331
7,151
7,402
7,624
7,853
8.088
8,331
7,151
The company must re(x)gnise a liability measured at the present value of the contributons payable that
arise from the deficit recovery agrtement anij the resulting expense in the income and expenditure
account i.e. the unwinding of the dlscount rate as a finance cost in the period in which It arises.
It 15 these contributions that have been used to derive the company's balance sheet liability-
16
RELATED PARTY TRANSAcfIoNS
The Voluntary Association for Surrey Disabled Ltd is a LOO% owned subsidlary of Queen Elizabeth
Foundation for Disabled People. Transartions with parent company are follows.. QEF managernent fee
charged £13,77612020.' £28,715).
Included within debtors at year end for VASD are the following balan￿S with the group of charities=
2021
2020
Queen Elizabeth's Foundation for Disabled People
QEF Trading Ltd
572,491
596,605
573 639
597 754
17
ULTIMATE PARENT UNDERTAKING
The company Is a wholly owned subsidiary of Queen Ellzabeth's Foundation for Disabled People, a
company incorwrated in England and Wales (registered charlty number 2510511. The immediate and
ultimate controlling party is Queen Elizabeth's Foundation for Disabled People. whith Is the parent
undertaking of the smallest and 5argest group to consolidate these financial statements. These accounts
can be obtained from The Company Secretary, Leatherhead Court, Woodlands Roa¢J, Leatherhead,
Surrev Kr22 OBN.
Queen Ellzabeth's Foundation for Disabled People IQEFI Ss a leading national charity with over 80 years,
experience of developing innovative services whlch enable and sUp￿rt people wlth dlsabi1Sties to
Increase Independen￿ and I￿PrOve tspportunitles for life.
27
stabrtory Report ènd ACCOUrts- year ended 31 Mgrch 2021