## STROKEINFORMATION (CIO)
(A charitable incorporated organisation)
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
## **Charity Number 1166424**
FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 March 2022
## **INDEX**
Company information 1
Trustees annual report 2 – 11
Annual report 12 – 24
Statement of financial activities 17
Balance sheet 18
Notes to the financial statements 20 – 23 STROKEINFORMATION CIO CHARITY INFORMATION FOR THE YEAR ENDED 31 March 2022
## **TRUSTEES**
Nick Clarke
Susan Whitney
Cary Timothy Hill (Appointed June 2019)
Damon Carroll
Peter Clarke
Cllr Laura Booth (Appointed 21[st] June 2020)
Riona Kelly (Appointed 21[st] August 2020)
Margery Savin (Resigned 20[th] April 2021)
## **AMBASSADOR**
RHONA BAGCHI (Appointed 5[th] December 2019)
In our last trustee annual report, I wrote about reflection which is still relevant of course with the pandemic and the potential that COVID 19 will never go away completely and it may be something we have to get use to like a common cold for the rest of our lives. However, with the onset of the cost-of-living crisis it has been hard if not harder than when I last undertook this objective.
It would also be fair to say that nobody would envisage the impact it would make to the charity sector and yet again our charity has remained positive whilst looking at fresh new ways to reach out to others that have been impacted by stroke. One area that we have excelled on is the length of our reach and with our FREE weekly drop in at Disability Stockport not only do we have our regular attendees in person but we are now reaching further afield with our Zoom calls and this allows us to connect over the length and breadth of the country letting more people access our service. Another area where we have really improved is our FREE WhatsApp group, to provide that peer-to-peer support which cannot be replicated which solidifies our tagline of #WeCareBecauseWeveBeenThere.
Historically, charities have blown their own trumpets when it comes to fundraising, obviously with the help of donations from the general public and funds, however given the afore mentioned StrokeInformation has started to collaborate with other charities to really make a difference like when we arranged to abseil off Fred Perry House, Stockport and we joined forces with Disability Stockport and Pappa’s House raising over 5k between the 3 charities.
This was after the walk to Chesterfield by some crazy Stockport County fans raising funds and much more awareness of StrokeInformation, Mentell and SANDS (FC) Stockport.
StrokeInformation as an organisation is growing, we employed Ben who has just celebrated his first year's employment with us, congratulations Ben keep doing what you do. We really are reaching out to the unreachable and forgotten voices in our society, giving others new found HOPE, whereby stroke care and rehabilitation will be forced into a community led relationship. Having the foresight to embrace the technology we will be able to really provide StrokeInformation Peer Support far and wide
I wish to finish by thanking everyone who has contributed this year and beyond. The volunteers, families, friends, and professionals. We have had direct support from others in the worst of situations, practical and political support from our councilor's and their officers. Great teamwork with partners. Disability Stockport, The Local Media Partnership and other funders have been vital contributors to our delivering more support at the most difficult times. Our core team members have been the very best and the board of trustees' dynamic in their support.
I am immensely proud of the team and the fact that many people we have helped have come on board and helped us to help others. I can think of nothing more rewarding. Please stay safe. have good health in the year ahead and remember, kindness will be the biggest help. Look for it, nurture it and demonstrate it.
I simply like the fact that we are able to help others who find themselves where we once were and is the main ethos of the organisation and does, what it can to assist people in those situations, whoever they are. We continue to strive to get the stroke survivor back into some form of normality and have a sense of worth once more.
I always look forward to my visits to our High Street office, and always feel welcomed by everyone I come into contact with. I would like to thank the Board, the directors, volunteers for making this organisation something to be proud of, and long may it continue.
Nick Clarke, CEO & FOUNDER, STROKEINFORMATION 1166424- **CIO TRUSTEES REPORT FOR THE YEAR**
The Directors, who are the trustees of the charity, present their annual report and the audited financial statements for the year ended 31 March 2022
## **REPORTING FRAMEWORK**
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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, effective January 1 2015 (as amended by Update Bulletin 1).
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The Charity is a charitable incorporated organisation and is governed by its constitution dated April 2016 and is registered with the Charity Commission. The Charity was previously a limited company, registered at Companies House. Membership of the charity is open to any adult resident in the Metropolitan Borough of Stockport and beyond who has been impacted by Stroke who has a disability or an interest in disability matters and is approved by the Trustees. The Trustees have the powers to in certain circumstances to remove a person from attending our drop in facility.
## **Board of Trustees – composition and appointment**
The number of Trustees must not be less than three or more than fourteen of whom not more than ten may be elected at a general meeting (the “elected Trustees”). All elected Trustees must be members of the charity.
One third of the elected Trustees must retire at each AGM, those longest in office retiring first. A retiring Trustee who remains qualified may stand again.
The Trustees may co-opt any adult who is qualified to be appointed a Trustee to fill a vacancy in their number or as an additional Trustee, but co-opted Trustees only hold office until the next AGM. A co-opted trustee does not necessarily need to be a member of the charity.
## **Trustee recruitment, induction and training**
The organisation has a defined process for recruiting and induction to the Board of Directors, and is led by the needs and skill requirements of the organisation. The induction process for any new Trustee comprises an initial meeting with the CEO and some of the trustees. The welcome pack includes a brief history of the Charity, copies of Committee, the Constitution and the Charity Commission’s guidance – ‘The Essential Trustee: What You Need to Know’.
## **Organisation**
The Trustees as a body administer the Charity and meet at least three times per year, normally every quarter, however this year COVID again prevented us from having face to face meetings.
The Trustees are assisted by the work of the following sub-groups: Finance, Governance and Policy, and Media & Marketing, Business and Project Development, Nominations and Recruitment, Training.
The day-to-day operations of the Charity are the responsibility of the Chief Executive Officer, to whom the Trustees delegate authority for operational matters including finance, employment and development, within the overall strategy agreed by the Trustees.
## **Volunteers – Impact/significance in the charity**
Volunteers have always been important throughout the history of StrokeInformation. Those people who have assisted are on our books showing that they are supporting our work.
It is not just in terms of finance they contribute but also in added quality of support and a diverse range of skills and experience. Volunteers in return receive training and support as well as feedback. Many volunteers are matched with their experience around a particular need for support and help to build confidence and independence. All volunteers are DBS checked as appropriate and offered participation in the organisation and personal development. This also has the benefit of helping to develop a skilled workforce resource for the local area and beyond some of them will choose a career outside of the charity because of their positive experience.
## **STROKEINFORMATION, CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Risk management**
The Charity Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
A Risk Register is maintained, to identify the principal risks which could affect the Charity and to categorise them per impact (low, medium, high) and probability (low, medium, high).
The Trustees consider that following the reduction in core grant support that the charity is exposed to significant risks in maintaining its financial stability whilst continuing to meet the needs of its beneficiaries.
For each significant risk, the Trustees will agree actions and a timescale to mitigate the risks identified and a Trustee or member of staff has been assigned to oversee the actions. All risks will continue to be reviewed at least annually.
Trustees are covered by trustee indemnity insurance.
## **OBJECTIVES AND ACTIVITIES**
The charity’s objectives are:
“To offer help, support, guidance and real hope to those who have been impacted by Stroke who are resident in the Metropolitan Borough of Stockport and beyond (the “area of benefit”).
To meet its objectives, the Charity aims to:
- _Provide information and advice on Stroke, preventative as well as coping mechanisms
- _Raise awareness of issues and concerns of those impacted by Stroke
- _Advocate on behalf of Stroke patients and their families
- _Monitor and evaluate services to Stroke patients
- _Provide a range of services that help to meet the needs of these people
_Promote and provide opportunities for partnership working to assist people who have been impacted by Stroke and does so through the provision of a range of services provided from its central premises in Stockport, however this has been impacted by the pandemic and we have had to adapt with Zoom video meetings and phone calls.
## **PUBLIC BENEFIT**
The charity has had regard to the Charity Commission guidance on public benefit. We have a central location and fully accessible building that is both easy to reach and welcoming. This means that all our public services such as information, advocacy, and advice can encourage people to drop in and use our facilities, such as meeting rooms, interview rooms and training room.
The counselling service is available any day and with prior arrangement in the evenings and and is available to the public, currently free of charge. Volunteer counsellors also use our office facilities for administration and supervision.
StrokeInformation is a registered charity helping to educate others about the impact a Stroke has to a member of the public and is a provider of training focusing not only on the preventative measures but also the coping strategies, meetings and workshops.
Services currently available at our registered offices. **STROKEINFORMATION, CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **ACHIEVEMENTS AND PERFORMANCE**
## **Benefits to community**
It has been a strange year to say the least, but we have managed to carry on making a difference to people who have been impacted by Stroke.
I do not think that anyone could have foreseen what lied ahead for us for the year as it started off so positive and in fact, we enjoyed our first trustee meeting on January 20[th] 2020 whereby plans were made to meet as a board at least several times during the year, awareness sessions were proposed and events were highlighted for attendance and fundraising dates scheduled. However, those intentions were scampered when the UK was forced into Lockdown in March due to COVID19 and the health and safety of the group was the main focal point for the charity.
We have not only maintained our registered status, but gone on to significantly increase our support for the wider community in Stockport and beyond. Equally satisfying is that we have progressed our previous ambition of making a reliable drop in facility to be welcoming, confidential using peer support in a community-based approach that is fully inclusive regardless of condition, diagnosis or circumstance. In other words, about people, stroke survivors, family and carers but we have also managed to introduce and run a WhatsApp group where we have allowed those impacted by Stroke to embrace technology to maintain a connection whilst we are not permitted to meet face to face.
Our support mechanisms range from peer support, information and advice to email consultation and even a live chat portal and centralised helpline telephone number and this has at last been able to benefit from the greater freedom of choice to those impacted by Stroke not only regionally but indeed nationally and beyond, sometimes even globally.
As we have witnessed the national stroke charity scale back with the increased pressure on charities as a whole, we are pleased with our progress to date and given the opportunity I feel that StrokeInformation should be able to work alongside others such as the national charity which will mean more people are offered that alternative rather than the traditional pathway on their recovery journey, moreso we all know that each stroke is different but so is the recovery journey and we feel that we have that unprecedented advantage to truly deliver a service which cannot be matched elsewhere. Some people also go in the other direction or no longer need our service, but we see this as entirely positive for everyone, because at the end of the day it is all about and should be that freedom of choice entirely.
The many positive stories and outcomes are testament to this success and we will continue to assist in those success stories.
Last year we outlined a plan for us to increase our presence of the drop in to include alternative days, training facilities, and workspace for administrative duties. However, the pandemic prevented so many items coming to fruition.
We have maintained a presence in the Town Centre, which is in a central location on good transport links and is fully DDA compliant but have been prevented to use the facility as a group due to outbreak of the virus.
The CEO and Trustees have worked hard to support and underpin the work of the organisation and are always willing to be hands on when needed.
The Trustees would like to thank all our executive team, volunteers, supporters and benefactors who have been indispensable in helping us continue to make a difference.
## **STROKEINFORMATION CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022**
StrokeInformation continues to be grateful to our supporters, donors, who contribute sums great and small to our organisation. We also wish to thank everyone who has sponsored an event on our behalf and all those who contributed their valuable time to our organisation. **STROKEINFORMATION, CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **FINANCIAL REVIEW**
## **Overview**
## **Principal funding sources**
## **Reserves Policy**
The Trustees consider expendable free reserves are essential to supplement any shortfall between expenditure and income to maintain the level of service to clients and provide for any unplanned revenue or capital expenditure.
Having considered the Charity’s exposure to risk, a policy has been determined to target free reserves (unrestricted funds invested in net current assets, which is the Charity’s working capital required to fund day-to-day operations) at a level equivalent to six months’ unrestricted expenditure.
The free reserves of the Charity at total, compared with unrestricted expenditure of, which is equivalent to expenditure.
The outlook for increasing reserves to targeted levels is very limited in the prevailing economic climate and it is doubtful that the target will be achieved in the medium term.
However, the current level of reserves combined with favourable short-term results and forecasts indicate the charity will continue as a going concern and deliver services as planned.
## **Pay of Senior Staff**
The CEO’s pay is determined by the minimum allowed as to not impact any benefit allowance, namely no more than £140.00 per week (effective April 2020) and no more than 15 hours actual work, the rest is deemed as voluntary and this is approved by the Board of Trustees. Comparative studies of levels for similar roles and factors of turnover and responsibilities are all considered.
## **FUTURE PLANS**
The charity continues to offer the same range of services in 2020/21, and is well placed to respond to any changes in government policy and/or funding whilst continuing to support those in most need.
We expect most new growth to come from signposting from the NHS and other statutory bodies and this looks to have considerable scope for expansion. Any new opportunities for partnership and alliance working will be pursued to reflect the wider scope of need we have experienced in recent years.
Bids will be submitted to the lottery fund and other large avenues to explore.
## **STROKEIINFORMATION, CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **TRUSTEES RESPONSIBILITIES**
The trustees 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).
The law applicable to charities in England & Wales 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 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;
- _o_b_s_e_r_v_e_ _t_h_e_ _m_e_t_h_o_d_s_ _a_n_d_ _p_r_i_n_c_i_p_l_e_s_ _i_n_
- _t_h_e_ _C_h_a_r_i_t_i_e_s_ _S_O_R_P_ _2_0_1_5_ _(_F_R_S_ _1_0_2_)_;_ _
- _m_a_k_e_ _j_u_d_g_e_m_e_n_t_s_ _a_n_d_ _e_s_t_i_m_a_t_e_s_ _t_h_a_t_ _a_r_e_
- _r_e_a_s_o_n_a_b_l_e_ _a_n_d_ _p_r_u_d_e_n_t_;_ _
- _state whether applicable accounting standards 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.
**Company registration number 09535824 (England and Wales)**
## **STROKE INFORMATION LTD**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **STROKE INFORMATION LTD**
## **COMPANY INFORMATION**
## **Directors**
Mr N Clarke Ms S Whitney Ms L Booth Mr P Clarke Mr C Hill Ms R Kelly
**Company number** 09535824 **Registered office** 23 High Street Stockport SK1 1EG
## **Accountants**
De La Wyche Baker Limited 7 St Petersgate Stockport Cheshire SK1 1EB
## **STROKE INFORMATION LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1|
|Accountants' report|2|
|Profit and loss account|3|
|Statement of comprehensive income||
|Balance sheet|4|
|Statement of changes in equity|5|
|Notes to the financial statements|6 - 9|
## **The following page does not form part of the statutory financial statements**
Detailed trading and profit and loss account
## **STROKE INFORMATION LTD**
## **DIRECTORS' REPORT** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The directors present their annual report and financial statements for the year ended 31 March 2022.
## **Principal activities**
The principal activity of the company continued to be that of providing support to those those affected by strokes in the UK.
## **Directors**
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr N Clarke Ms S Whitney Ms L Booth Mr P Clarke Mr C Hill Ms R Kelly Ms M Savin (Resigned 20 April 2021)
## **Small companies exemption**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr N Clarke
## **Director**
31 December 2022
- 1 -
## **STROKE INFORMATION LTD**
## **ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STROKE INFORMATION LTD FOR THE YEAR ENDED 31 MARCH 2022**
It is your duty to ensure that Stroke Information Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stroke Information Ltd. You consider that Stroke Information Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Stroke Information Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
## **De La Wyche Baker Limited**
## **Chartered Certified Accountants**
7 St Petersgate Stockport Cheshire SK1 1EB
31 December 2022
- 2 -
## **STROKE INFORMATION LTD**
## **PROFIT AND LOSS ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**2022**
**£**
**Turnover**
19,709
Cost of sales
(1,167)
**Gross profit**
18,542
Administrative expenses
(12,015)
**Profit before taxation**
6,527
Tax on profit
-
**Profit for the financial year**
6,527|**2021**
**£**
10,052
(644)
9,408
(9,127)
281
-
281|
|---|---|
The profit and loss account has been prepared on the basis that all operations are continuing operations.
- 3 -
## **STROKE INFORMATION LTD**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**4**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**5**
**Net current assets**
**Net assets**
**Capital and reserves**
Called up share capital
Profit and loss reserves
**Total equity**|**2022**
**£**
42,584
(4,781)|**£**
930
37,803
38,733
100
38,633
38,733|**2021**
**£**
34,521
(4,176)|**£**
1,861
30,345|
|---|---|---|---|---|
|||||32,206|
|||||100
32,106|
|||||32,206|
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 board of directors and authorised for issue on 31 December 2022 and are signed on its behalf by:
Mr N Clarke **Director**
## **Company Registration No. 09535824**
- 4 -
## **STROKE INFORMATION LTD**
## **STATEMENT OF CHANGES IN EQUITY**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Balance at 1 April 2020**
**Year ended 31 March 2021:**
Profit and total comprehensive income for the year
**Balance at 31 March 2021**
**Year ended 31 March 2022:**
Profit and total comprehensive income for the year
**Balance at 31 March 2022**|**Share**
**capital**
**Profit and**
**loss**
**reserves**
**£**
**£**
100
31,825
-
281
100
32,106
-
6,527
100
38,633|**Total**
**£**
31,925
281|
|---|---|---|
|||32,206
6,527|
|||38,733|
- 5 -
## **STROKE INFORMATION LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Company information**
Stroke Information Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 23 High Street, Stockport, SK1 1EG.
## **1.1 Accounting convention**
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Turnover**
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
## **1.3 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:
Computers
33.33% of cost
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 credited or charged to profit or loss.
- 6 -
## **STROKE INFORMATION LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.4 Impairment of fixed assets**
At each reporting period end date, the company 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents are basic financial assets and 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.
## **1.6 Financial instruments**
The company 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 company's balance sheet when the company 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.
## _**Classification of financial liabilities**_
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
- 7 -
## **STROKE INFORMATION LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 business 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.
## **1.7 Equity instruments**
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
## **1.8 Employee benefits**
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Judgements and key sources of estimation uncertainty**
In the application of the company’s accounting policies, the directors 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 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|1|1|
- 8 -
## **STROKE INFORMATION LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **4 Tangible fixed assets**
|**4**|**Tangible fixed assets**|||
|---|---|---|---|
||||**Plant and**|
||||**machinery**|
||||**etc**|
||||**£**|
||**Cost**|||
||At 1 April 2021 and 31 March 2022||5,386|
||**Depreciation and impairment**|||
||At 1 April 2021||3,525|
||Depreciation charged in the year||931|
||At 31 March 2022||4,456|
||**Carrying amount**|||
||At 31 March 2022||930|
||At 31 March 2021||1,861|
|**5**|**Creditors: amounts falling due within one year**|||
|||**2022**|**2021**|
|||**£**|**£**|
||Other creditors|4,781|4,176|
- 9 -
## **STROKE INFORMATION LTD**
## **DETAILED PROFIT AND LOSS ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Turnover**
Sales
**Cost of sales**
Direct costs
Total cost of sales
**Gross profit**
**Administrative expenses**
Wages and salaries
Property repairs and maintenance
Software costs
Travelling expenses
Postage, courier and delivery charges
Professional subscriptions
Legal and professional fees
Accountancy
Insurances (not premises)
Printing and stationery
Advertising
Telecommunications
Entertaining
Sundry expenses
Depreciation
**Operating profit**|**2022**
**£**
1,167
94.08%
7,320
96
278
18
66
268
50
1,191
533
113
565
572
15
(1)
931|**£**
19,709
(1,167)
18,542
(12,015)
6,527|**2021**
**£**
644
93.59%
6,060
-
137
-
-
-
63
584
484
-
5
455
-
18
1,321|**£**
10,052
(644)
9,408
(9,127)
281|
|---|---|---|---|---|