Charity registration number: 1170548 Space Science And Engineering Foundation (A Charltable Incorporated Organlsatlon) Annual Report and Flnanclal Statements for the Year Ended 31 August 2024
Space Science And Engineering Foundation Contents Reference and Adminlstratlve Details Trustees, Report 2to5 Statement of Trustees, Responslbilities Independent Examlner's Report statement of Flnanclal Activities Balan Sheet Notes to the Financlal Statements ioto20
Space Science And Engineering Foundation Reference and Administrative Details Chalrman Shayne Shaneelsingh Beegadhur Chlef Executive Officer Jenny Lyons Trustees Katherine Helen Ollver Dr Rlchard Charles Ghall Dr Ellzabeth Luthman Shayne Shaneelslngh Beegadhur Louls John Lyle Dr Wllllam Jeremy Curtls Adam Braithwaite Senlor Management I Leadership Team Dr David Dangoor, Honorary Presldent Jennlfer Lyons, Dlrector of Education and Outreach Charlty Registration Number 1170548 Princlpal Offlce London SW7 2AZ Independent Examlner Crane & Johnston 30-32 TrebaThvith crent Newquay Cornwall TR7 IDX Bankers HSBC Covent Garden 16 King Street Covent Garden London WC2E 8JF Page I
Space Science And Engineering Foundation Trustees, Report The trustees present the annual rert together with the financlal statements of the charity for the year ended 31 August 2024. The flnanclal statements have been prepared in accordance with the accountlng policies set out In note I to the flnanclal statements and comply with the Charity's Trust deed, the Charitles Act 2011 and Accountlng and Reporting by Charities: Statement of Recommended Practice appllcable to charltles preparlng thelr accounts In accordan with the Financlal Reportlng Standard appllcable in the UK and Republlc of Ireland (FRS 102). Objectives and activities Objects and aims The official objectlves of the SSEF are listed on the Charity Commlsslon's webslte as "TO ADVANCE THE EDUCATION OF UK SECONDARY SCHOOL STUDENTS ON THE SUBJE5 OF SPACE SCIENCE AND ENGINEERING AND TO PROMOTE INTERACTION WITH UDENTs FROM OTHER SCHOOLS WITHIN THE UK AND WORLDWIDE., In pract5, we take a broad Interpretatlon of the objectlves, including impllclt aspects (such as the relatlonshlp of STEM outreach with careers awareness), wholly In the servlce of multidlsciplinary srEM outreach, In the modern approach to EM. Accordingly, we can say that the objectives are as stated on the website, Interpreted to mean that SSEF'S objectives are: To broadly support sclence, spa, envlronmental and englneering educatlon In the UK, and to promote these, and adjacent, subjects as career Chol5. To run events wlthln the UK that are free-to-enter, and to promote andlor enable events elsewhere In the world, that are based on an Industry simulatlon, Involvlng student-led deslgn flrms of signlflcant slze, collaboratlng to fulfil the complex requlrements of a cllent, and thus dlfferlng substantlally from normal school programmes In the nature of the experIen, and the galn In self-cOnflden as a worker contributlng to the deslgn of solutions, for a dknt, using STEM. To support the UK Space Design Competitlon (UKSDC), the Environmental Design Challenge (EDC) for 15-18 year olds, and to also support Galactlc Challenges and its envlronmental equlvalent (EComt> for 7 -14 year old students. The junior events are a necessary early engagement wlth schools and students, to create a conduit for the secondary school actlvlty whlch is the domlnant expllcit objectlve. Junior events frequently rely on secondary school involvement, either as host5, suppllers of rnentors or In Jolnt primary school-secondary school events. Page 2
Space Science And Engineering Foundation Trustees, Report (continued) Objectlves strategies and activities REVIEWOFAC77V171ES The dominant approach to our Industry simulatk)n events is to bring students from different schools together. so that the industry simulatlons are carried out In conjunction with other schools. It Is possible for a school to run its own In-house, non-competition event as a type of tralnlng, or junior recrultment exercise: these wlll be labelled Galactic Challenge,. Typlcally, UK space competitlon events or environmental challenge events are held at a local (regional) universlty as a venue and to promote the Idea that universitles see the actSvity, the SSEF and the students as worthy of support (in-klnd) from the university. SSEF supplies Judges, badges, certlficates and competltlon,Ichallenge materials, free of charge to UK events held withln the school year. Many materials are freely avallable via the SSEPS UKSDC website or EDC website, under competitionlchallenge resources. The dominant actlvlty of the SSEF remalns the UK spa t)eslgn Competitlon, which uses regional heats (at universitles and elsewhere) to identlfy student (winners) who can partlclpant In the UK'S Natlonal Flnals for the UKSDC, wh5ch Is held annually In March, at Imperlal College London's South Kenslngton campus, usually in bulldlngs wlthin the Englneerlng Faculty, where capacity permits. More than 1000 UK students partlclpate in reglonal heats. More than 250 particlpate In the UKSDC natlonal flnals, In person. Dozen5 to hundreds more can partlclpate in Galactlc Challenge events and EDC events, which do not feed into a system of 'finals' and 'lnternational finals, but constitute standalone industry experlences. From the UKSDC National Flnals, we select twelve students who, with the SSEF support, wlll travel to the International Space Settlement Deslgn Competitlon (ISSDC) held at NASA'S Kennedy Space Center in July each year. In 2024, the SSEF sent to NASA four teams, being a team from the UK, from the EU, from Afrlca and a fourth GSDC team. Thus It can be seen that the charity also supports the EU Space Deslgn Competltion (EUSDC) and AFSDC ( Afrlca SDC), In further detall, the UKSDC activities Included continulng with competitlons In Cardiff, Eastbourne, Exeter, Glasgow, Liverp1, London (two venues), Oxford, York, and Glasgow. A digital event was also offered for those who could not attend an In person event. The charlty continues to have a balance of state schools and prlvate schools, and similarly the gender mix is generally equal. A large proportlon of our volunteers for the charity are alumnl of previous competltions who have gone on to universlty and Industryi and ttrElr Input is invaluable in kping the competltlon up to date wlth the latest social medla, as well as supplylng Judges and volunteers to roleplay being "the student deslgn company's CEO'S" for the running of our events. Some events are now fully volunteer-alumni-led, and thls has enabled us to extend our reach to new venues. An important benefit from our large pool of volunteers Is that our alumnl also provide much of the Intellectual Ideas for the technical 'challenge' offered to students at our events. Page 3
Space Science And Engineering Foundation Trustees, Report (continued) Public benefit The trustees confirm that they have referred to the gUIdan contained in the Charity Commission general guldance on public benefit when reviewing the charlty's alms and objectives and in plannlng future activities and projects, and are In the process of trylng to write a clearer more expllclt set of objectives. Our maln activities and those whom we alm to help are outllned above. Nature of Governlng Document: the governlng document remains as last year, but updatlng of it Is being actlvely discussed by the Board of Trustees. Multiple trustee meetings have Included dlscussions of It. Accountlng records, accounts, annual reports and retums, register rna1ntenan are uslng the same compliance approaches as last year, but the Board of Trustees has started a revlew and update process and Is explicltly dedicating sectlons of Trustee meetings to belng In the mode of 'Audlt and Risk, Subcommlttee, A Development Commlttee Is In the plannlrg stages. By keeplng minutes 'separated' for these aspects, the aim is to create greater transparency as we upgrade and modernise our practice of governance. The charlty trustees are compliant with the requlrements of the Charities Act 2011 wlth regard to the keeplng of accountlng records, to the preparation and scrutiny of statements of account, and to the preparation of annual reports and returns. Recrultment and appoSntment of Trustees: The Board of Trustees has revlewed the current sltuation whlch Is compliant wlth the governing document, but last year Inltiated a skills audlt to Identlfy strengths and any gaps that may need to be fllled by new trustees. A strategy document has been drafted for approval by the Trustees, ahead of efforts to recrult Trustees to the sk1115 gap. We note that we have alumni of the competltlon volunteerlng to become trustees, but our fcrus will be on recruiting for skllls and experlence of governance, Inductlon and trainlng of Trustees: The Trustees agreed to, and partlcipate In, a pattern of starting meetings wlth a pre-meetlng viewlng of a tralnlng video from the Charity Commlsslon website with guSdance for trustees. Where a video Is not available, a paper summarlslng key Infomatlon on a toplc, together wlth the Ilnks to the relevant guidance page on the Charlty Commission webslte, Is Included In the Board papers for a meetlngi SO that all trustees are bulldlng 5hared-awareness of particular toplcs that the Chalrman and CEO have Identlfled as helpful ahead of discusslons on modernlsing governance. Prospectlve trustees are required to read and comply wlth all requirements, when identlfied. Financlal review Total Income for 2024 amountaj to £313,821 (£332,093 2023), a decrease of £18,272, whlch malnly relates to a decrease In Donations & Grants and an increase to the summer GSDC camp belng offered by the charlty. The total expenditure for 2024 was £331,902 (£328,595 2023) an increase of £3,307. Overall, the charity had a deficit of £18,081 (surplus £3,498 2023) for the year ending 31 August 2024 Policy on reserves The trustees have assessed the major risks to which the charity is exposed, in partlcular those related to the operations and finances and student safety of the charity and are satlsfled that systems are in place to mitigate our exposure to the major risks. Page 4
Space Science And Engineering Foundation Trustees, Report (continued) structurei governance and management Constltution The SSEF Is a Charitable Incorporated Organisation (CIO) whlch was Incorporated on 5 Detrmber 2016 under number 1170548. Previously It was a charitable trust governed by a Tnjst Deed dated 10 February 2011. This charity's reglstered number was 1142329, and The Charlty Commission now records its status as a "removed charity" The assets and liabilities of the previous charitable twst moved across to the CIO durlng the year ended 31 August 2019. Detalls of the trustees who served throughout the year are Included In the Reference and Admlnistrative Details on page l. Nature ofgovernlng document The charlty trustees are compliant wlth the requirements of the Charitles Act 2011 wlth regard to the keeplng of accountlng records, to the preparatlon and scrutlny of statements of account, and to the preparation of annual reports and returns. Recrultmeiit andappolntment of trustees Trustees complete a skllls audit to Identlfy any gaps that may need to be filled by new trustee51 posts are advertlsed accordingly, Inductlon and tralnlng of trustees Prospective trustees are required to read and comply with all requirements as laid down by the Charlty Commlsslon includlng understanding the Essential RUIrements of Trustees Volunteers We are grateful for the tlme glven voluntarily In supwrt of our work. Thls Includes support from our trustees and our members. SIGNFD 8E¢iIRELY 30/06/2025 1010611Q29ai 0'.2$..34 AM UTC The annual report was approved by the trustees of the charlty on behalf by: and slgned on Its BNE0$E¢1jBEly 81202 at8..23..$4 AM UTC Shayne Shaneelslngh Beegadhur Chalrman and trustee Page 5
Space Science And Engineering Foundation Statement of Trustees, Responsibilities The trustees a responsible for preparing the trustees, report and the flnanclal statements In accordance with the Unlted Klngdom Accounting Standards (United Klngdom Generally Accepted Accountlng Practice) and applicable law and regulations. The law appllcable to charlties requires the trustees to prepare financial statements for each fSnancial year which glve a true and falr view of the state of affairs of the charity and of the Incoming resources and application of resour$ of the charity for that perlod. In preparing these financlal statements, the trustees are requlred to: select sultable accountlng polic5es and then apply them consistentlyi obseNe the methods and prlnciples in the Charitie5 SORP. make judgements and estlmates that are reasonable and prudent. state whether appllcable accountlng standards have been followed, subject to any materlal departures disclosed and explained in the flnanclal statements,, and prepare the financial statements on the golng concern basls unless it Is Inapproprlate to presume that the charlty wlll contlnue in business. The trustees are responsible for keeplng proper accounting records that disclose wlth reasonable accuracy at any tlme the flnancial posltlon of the charity and enable them to ensure that the flnancial statements comply with the Charltles Act 2011, the Charlties (Accounts and Reports) Regulations 2008, and the provlslons of the constltutlon. The trustees are also responslble for safeguardlng the assets of the charlty and hen for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. The trustees are responslble for the MaIntenan and Integrlty of the corporate ar¢d flnancial informatlon Included on the charltable company's website. Legislatlon governing the preparation and dissemlnatlon of financlal statements may differ from legislatlon In other jurisdlctlons. Page 6
Space Science And Engineering Foundation Independent Examiner's Report to the trustees of Space Science And Engineering Foundation I report to the trustees on my examlnatlon of the flnancial statements of Space Sclence And Engineering Foundation for the year ended 31 August 2024. Responsiblllties and basls of report As the charlty trustees of Space Science And Engineering Foundation you are responsible for the preparation of the flnanclal statements In accordance wlth the requirements of the charle5 Act 2011 {'the Act,). I report in respect of my examinatlon of the spa scIen And Englneering Foundatlon's flnancial statements carrled out under section 145 of the 2011 Act and in carrylng out my examinatlon I have followed all the applicable Dlrections given by the Charity Commission under section 145(5)(b) of the Act. I draw to your attentlon that the firm at whhch I am a Partner provides bookkeeping services to the charity. We have complied with the FRC'S Revlsed Ethical Standard In thls regard. Independent examiner's statement Slnce Space Sclence And Englneerlng Foundatlon's gross income exceeded £250,000 your examlner must be a member of a bY listed In sectlon 145 of the 2011 Act. I conflrm that I am qualified to undertake the examlnatlon because I am a member of Chartered Certlfled Accountants, which is one of the listed bodles, I have completed my examinatlon. I confirm that no material matters have come to my attentlon In connectlon with the examlnation givlng me cause to belleve that in any materlal respect: l. accountlng records were not kept In respect of Space Science And Englneerlng Foundatlon as requlred by sectlon 130 of the Act,. or 2, the financlal statements do not accord wlth those records. or 3, the flnancial statements do not comply with the accountlng requirements concernlng the form and content of flnanclal statements set out in the Charitle5 (Accounts and Reports) Regulations 2008 other than any requlrement that the financia5 statements give a 'true and fair view, which Is not a matter consldered as part of an independent examinatlon. I have no concerns and have come across no other matters in connectlon wlth the examlnatlon to which attention should be drawn in this report In order to enable a proper understandlng of the financlal statements to be reached, Nell Hallam FCCA Crane & Johnston Chartered Certified Accountsnts 30-32 Trebarwith Crescent Newquay Cornwall TR7 IDX Date:,. Page 7
Space Science And Engineering Foundation Statement of Financial Activities for the Year Ended 31 August 2024 Total 2023 Total 2024 Unrestrlcted Note Income and Endowments from: Donations and legacies Charltable activltles Investment Income 44,465 267,675 44,465 267,675 104,162 227,378 553 Total Income 313 821 313 821 332 093 Expenditure on: Charltable activltles 332 102 332 102 328 595 Total expenditure Net movement in funds 332 102 332 102 328 595 (18,281) (18,281) 3,498 Reconciliatlon of funds Total funds brought forward Total funds carrled forward 234 983 234 983 231485 18 216 702 216 702 234 983 All of the charlty's activitles derive from contlnulng operatlons during the above two periods. The funds breakdown for 2023 Is shown In note 18, The notes on pages 10 to 20 form an integral part of these flnanclal statements. Page 8
Space Science And Engineering Foundation (Registration number: 1170548) Balance Sheet as at 31 August 2024 2024 2023 Note Flxed assets Intanglble assets Tangible assets 12 13 9,800 9,800 Current assets Debtors Cash at bank and In hand 14 15 42,948 183 247 43,280 208 628 226,195 251,908 Credltors: Amounts falllng due withln one year 16 Net current assets 202 224 222 532 Net assets 216 702 234 983 Funds of the charlty: Unrestrlcted Income funts Unreslricted funds 216 702 234 983 Total funds 18 216 702 234 983 The flnanclal statements on pages 8 to 20 were approved by the trustees, and authorised for Issue on SIWEO 8EfAJReLand slgned on theSr behalf by: 30/06/2025 3QIO612425•L 8.'23'.31 AM UTC SIGNeD SF.CURELY 61202 OLI'.23'.34 AM ITrYC Shayne Shaneelsingh Beegadhur Chalrman and trustee The notes on pages 10 to 20 form an integral part of these financral statenients. Page 9
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 l Accountlng pollcles statement of compliance The flnanclal statements have been prepared in accordance with the second edition of the Charltles statement of Recommended Practlce issued In October 2019, the Financlal Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparatlon Space Sclence And Englneerlng Foundation meets the definition of a public beneflt entlty under FRS 102. The flnancial statements have been prepared under the historical cost convention wlth Items recognised at cost or transaction value unless otherwlse stated In the relevant nole(s) to these accounts. Golng concern At the tlme of approvlng the financlal statements, the trustees have a reasonable expectatlon that the charity has adequate resources to contlnue In operatlonal existence for the foreseeable future. Thus, the trustees continue to adopt the going conrn basis of accounting in preparlng the financlal statements. Income and endowments Voluntary Income includlng donations, glfts, legacles and grants that provide core funding or are of a general nature is recognlsed when the charity has entitlement to the Income, It is probable that the Income will be received and the amount can be measured with sufflclent reliabS11ty. Donatlons andlegades Donations and legacies are recognised on a re1vable basis when recelpt is probable and the amount can be rellably measured. Grants rece/vable Grants are recognlsed when the charity has an entltlement to the funds and any condltions linked to the grants have been met. Where performance condltlons are attached to the grant and are yet to be met, the Income Is recognlsed as a 1Sabllity and Included on the balan Sheet as deferred Income to be released. Investment Income Divldends are recognlsed On the divKlend has been declared and notlfication has been recelved of the divldend due. Charitable artlvlties Charltable expendlture coMpriS those costs incurred by the charlty in the delSvery of its activltles and services for its beneficiaries. It Includes both costs that can be allocated dlrectly to such actlvlties and those costs of an Indirect nature netrssary to support them. Page 10
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) Expenditure All expenditure Is recognlsed On there Is a legal or constructlve obligation to that expenditure, It Is probable settlement Is required and the amount can be measured rellably. All costs are allocated to the applicable expenditure heading that aggregate slmilar costs to that category, Where costs cannot be directly attrlbuted to particular headlngs they have been allocated on a basis conslstent with the use of resources, with central staff costs allocated on the basls of time spent, and depreclatlon charges allocated on the portlon of the asset's use. Other support costs are allocated based on the spread of staff costs. Governance costs These Include the costs attrlbutable to the charlty's compliance wlth constitutional and statutory requirements, Includlng independent examlnation, strateghc management and trustees meetlngs and relmbursed expen5e5, Taxatlon The charlty Is consldered to pass the tests set out In Paragraph I Schedule 6 of the Finance Act 2010 and therefore It meets the deflnitlon of a charity for UK corporation tax purposes. Accordlnglyi the charlty Is potentially exempt from taxation In respect of Income or capltal galns receSved withln categories covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Sectlon 256 of the Taxatlon of Chargeable Gains Act 1992, to the extent that such income or galns are applied excluslvely to charitable purposes. Intangible assets Intangible assets are stated In the Balance Sht at cost less accumulated amortlsation and impaSrment. They are amortised on a straight Ilne basis over thelr estlmated useful lives. Tanglble flxed assets Indlvldual fixed assets costing É250.00 or more are initially recorded at cost. Depreclatlon and amortlsatlon Depreciation is provided on tanglble flxed assets 50 as to write off the cost or valuatlon, less any estlmated residual value, over thelr expected useful economlc Ilfe as follows.. Depreciation method and rate 20% Reduclng Balan Asset class Office Equipment Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposlts, and other short-term hlghly liquid Investments that are readily convertible to a known amount of cash and are subject to an inslgnlficant risk of change In value. Page 11
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) Trade credltors Trade creditors are obllgatlons to pay for gocKls or seFvice5 that have been acquired Sn the ordlnary course of business from suppllers. Accounts payable are classified as current Ilabllities if the d5 not have an uncondltional right, at the end of the reporting period, to defer settlement of the credltor for at least Iwelve months after the reportlng date. If there is an unconditlonal right to defer settlement for at least e1ve months after the reportlng date, they are presented as non-current liabS1ities. Trade creditors are recogn15ed 5nltlally at the transacuon pritr and subsequently measured at amortised cost uslng the effectlve interest method, Fund structure Unrestrlcted Income funds are general funds that are available for use at the trustees dlscretlon In furtheran of the objectives of the charlty. Penslons and other post retlrement obligations The charlty operates a deflned contribution penon scheme whlch Is a penslon plan under whlch fixed contrlbutlons are pald Into a penslon fund and the charlty has no legal or constructlve obllgation to pay further contrlbutions even If the fund does not hold sufflclent assets to pay all employees the beneflts relatlng to employ* rVIce in the current and prlor perlods. Contributlons to defined contrlbutlon plans are recognised In the Statement of Flnancial Actlvltles when they are due. If contrlbutlon payments exceed the contributlon due for servi, the excess15 recognlsed as a prepayment. Flnanclal Instruments Classlflcation Flnancial assets and financla5 Ilabllltles are recognlsed when the charity becomes a party to the contractual provlslons of the Instrument. Flnanclal liabilitles and equlty Instruments are dasslfled 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 charlty after deducting all of its liabilitles. Page 12
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) Recognltlon and measurement All financial assets and Ilabllltles are initially measured at tran5actlon price (incltidlng transactlon costs), except for those financial assets classified as at faSr value through proflt or loss, which are initially measured at falr value (which is normally the transaction pri excluding transaction costs), unless the arrangement constitutes a financing transattion. If an arrangement constitutes a financlng transactlon, the financlal aet or financlal liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financlal assets and liablllties are only offset in the statement of financlal positlon when, and only when there exlsts a legally enforceable right to set off the recognised amounts and the charlty Intends elther to settle on a net basis, or to realise the asset and settle the Ilability slmultaneously. Flnanclal assets are derecognSsed when and only when a) the contractual rlghts to the cash flows from the flnancial asset expire or are settled, b) the charity transfers to another party substantlally all of the rlsks and rewards of ownershlp of the financlal asset, or c) the charlty, despite havlng retained some, but not all, slgnificant rlsks and rewards of ownershlp, has transferred control of the asset to another party. Flnancial Ilabllltles are derecognised only when the obllgation speclfled In the contract Is dlscharged, cancelled or expires. 2 Income from donations and legacies Unrestricted funds General Total funds Donatlons and legacles. Donatlons from indlvlduals Total for 2024 Total for 2023 104 162 3 Income from charitable activitles Unrestricted funds General Total funds GSobal spa Deslgn Challenge Merchandise 267,008 667 267,008 667 Total for 2024 267 675 267 675 Total for 2023 227 378 227 378 Page 13
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 4 Investment income Unrestricted funds General Total funds Interest recelvable and simllar income. Interest receivable on bank deposlts Total for 2024 Total for 2023 553 553 5 Expenditure on charitsble actlvltles Unrestricted funds General Total funds Note Purchases Staff training staff welfare Insurance Telephone and fax Computer software and Maintenan costs Printingi Postage and statlonery Trade subscriptions Travel and subsSstence Hotel accommodation Advertising Lecturer fees Legal and professlonal fees Bank charges Depreclation of office equipment Staff costs Governance costs 4,433 463 43 1,279 1,378 6,765 2,825 244 46,851 32,353 123 42,859 4,116 277 1,170 180,392 4,433 463 43 1,279 1,378 6,765 2,825 244 46,851 32,353 123 42,859 4,116 277 1,170 180,392 Total for 2024 332 102 332 102 Total for 2023 328 595 328 595 Page 14
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 6 Analysls of governance and support costs Governance costs Unrestricted funds General Total funds Independent examlner fees Examlnatlon of the financlal statements other fees pald to examiners Total for 2024 1,662 1,662 Total for 2023 7 Net incomlngloutgoing resources Net (outgolng)/incomlng resour for the year Include: 2024 2023 Depreciatlon of flxed assets 663 8 Trustees remuneration and expenses During the year the charlty made the followlng transactions wlth trustees: Katherine Helen Oliver Katherlne Helen Oliver rece5ved remuneration of £4,550 (2023: £3,106) durlng the year. Supply of serv15 as a computer consultant. Shayne Shaneelslngh Beegadhur £469 (2023: £NII) of expenses were reimbursed to Shayne Shaneelslngh Beegadhur durlng the year. Travel Expenses No trustees have reiVed any other benefits from the charlty durlng the year. Page 15
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 9 Staff costs The aggregate payroll costs were as follows: 2024 2023 staff costs during the year were: Wages and salarles Soclal securlty costs Pension costs 164,699 11,735 131,602 7,593 180 392 142 358 The monthly average number of persons (Includlng *nlor management I leadership team) employed by the charlty durlng the year expressed as full tlme equivalents was as follows: 2024 No 2023 No Average number of employees during the year No employee reiVed emoluments of more than £60,000 during the year IOIndependent examlner's remuneratlon 2024 2023 Examlnatlon of the financlal statements Other fees to examiners All other services IITaxation The char5ty Is a registered charlty and is therefore exempt from taxation. Page 16
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 121ntanglble fixed assets other intanglble asset Total Cost At I September 2023 At 31 August 2024 9,800 9,800 Amortlsatlon At 31 August 2024 Net book value At 31 August 2024 At 31 August 2023 Page 17
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 13 Tanglble fixed assets Furniture and equipment Total Cost At I September 2023 Additions 3,568 3,568 At 31 August 2024 Depreclatlon At I September 2023 Charge for the year 917 917 At 31 August 2024 Net book value At 31 August 2024 At 31 August 2023 14 Debtors 2024 2023 Trade debtors Other debtors 1,549 1,881 15Cash and cash equivalents 2024 2023 Cash at bank 183 247 208 628 Page 18
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 16 Credltors: amounts falling due withln one year 2024 2023 Trade credltors Other taxatlon and social security other credltors Accruals 277 2,649 15,183 1,449 6,539 16,438 17 Pension and other schemes Deflned contribution pension scheme The charlty operates a deflned contribution penslon stheme. The penslon cost charge for the year represents contributions payable by the charlty to the scheme and amounted to £3,958 (2023 £3,163). 18 Funds Balance at I September 2023 Balance at 31 August 2024 Incomlng resources Resources expended Unrestrlcted funds General 234 983 332 102 216 702 Balance at I September 2022 Balance at 31 August 2023 Incoming resources Resources expended Unrestricted funds Genera 231485 328 595 234 983 Page 19
Space Science And Engineering Foundation Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 19 Analysls of net assets between funds Unrestrlcted funds General Total funds at 31 August 2024 Intanglble flxed assets Tangible fixed assets Current assets Current liabilltles 9,800 4,678 226,195 9,800 4,678 226,195 Total net assets 216 702 216 702 Unrestrlcted Total funds funds at 31 August General 2023 Intangible fixed assets Tanglble fixed assets Current assets Current IlabllStles 9,800 2,651 251,908 9,800 2,651 251,908 Total net a55ets 234 983 234 983 20Controlllng Entlty The trustees of the Charlty have control and dedde upon the day to day actlvltles. The staff of the Charity complete the day to day activities. Members of the Charlty, of whlch there are 300, have no Indemnity and therefore do not make any decSsions. Page 20