THE SPINAL TRACK ANNUAL REPORT FOR 1/1/20 – 31/12/120 REG CHARITY NUMBER: 1173285 Summary of the purposes of the charity:
The charity was set up to provide incredible driving experiences simply not available to disabled drivers. It was noted that there were no available cars on hand controls (or other adaptions) for disabled drivers in the UK to take part in track driving.
2020 Charity achievements:
After making great progress last year – opening a disabled rally school etc, 2020 was a disaster. Our experiences began in March and we only managed to run one rally day and one track day before lockdown ended our hopes of a great year. Only 6 people got to benefit in 2020.
After the strongest lockdown rules were eventually lifted, it was deemed unsafe and inappropriate to sit high risk beneficiaries in cars with instructors. Adding covid anxiety to the day was unnecessary and the bad PR of catching it on one of our days was unthinkable.
Fundraising:
We struggled with normal fundraising due to lockdown (hence why the numbers were much lower than the previous year), but thankfully our sponsors stayed with us and supported us through what was a difficult year for them, for which we are and always will be massively grateful.
Trustees: Simon Evans Mike Simpson David Pond
Signed on behalf of the Trustees:
Andrew Bayliss Co-founder 1/11/2021
IM irwinmitchell SPINAL TRACK REGISTERED CHARITY NO. 1173285 EGISTERED COMPANY NO 0514904 FINANCIAL STATEMENTS For the ear ended 31 Df tgmbgr 2020 IR8f.. 054103301
SP NAL TRA REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 10514904 Co te for tho t8to ear ended 31 December 202 Annual Rep)rt of the TrusteBs Ind&p8ndent Examiners Report Balanc* Sheet Statement of Financial Aclivilies 6-11 Not•s lo FnanCIal Sla18m8nls
Page 1 SPINAL TRAC REGISTERED CHARITY NO.1173285 RE TERED ANYN REPORT OF THÉ TRUSTEES (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DECEMBER 2020 Thg Irusle88 who ar8 dso di¢10r$ of Ihe ¢harily for the purposes of the C0[npnl@S Act 2006, pre88nl their r8POrt with the financial slalemenls of the charity for the year 8nd8d 31 Decembsr 2020. The accounts hav? been prepared In ac¢ordance wilh the accounllng pdicies sel out in note 1 to the a¢UnIS and comply with the charills goverrnirvJ docum&nt. the Companie5 Act 2W6 and'Accountin9 8nd Reporting by Charities.. Statement of Recommended Pra¢ti¢e oppli¢aNe to charities preparlng Iheir accounts in accordance with lh& Financial Reporting Slandaid applicable in the UK arKS Republic of Ireland IFRS1021. REFERENCE AND ADMINISTRATION DETAILS R&glsterfjd Company fjumber lo5144 IEn9land and Wal881 Reglstered Charlty number 1173285 Reglstered offi¢e Thornas Eggar Hou58, Frtary Lan Chiche$ter, Wesl Suss&x P019 1UF Trustees SJWEvan$ M Simpson (appointed 28.2.20201 Ms J Y Harding Iresigned 11.6.20211 O Pond lappoinled 11.6.20211 exatnln9r Claire Notwood BSC FCA ATII Jones Avens Litniled Pip8r Hous8, 4 Duk88 Court Bognor Road, Chich0s1gr W88t Sus88X P019 8FX Soll¢ltors Irwin Milchell LLP Thomas Eggar house Fri8ry Lane, Chichester West Su8S8X P019 IUF Banker8 HSBC UK STRUCTURE, GOVERNANCE AND PIANAGEMENT Governlng IlocumÈnt Spinal Track is controlled by ils governing docurnenl, a deed of Iru51, and conslitules a limited company. Ilmiled by gu8ranle8, as defined by IhÈ Companies Act 28
Paue 2 SPINAL TRA REGISTERED CHARITY NO.1173285 RÉ TERED MPANY N REPORT OF THE TRLSSTEES IIN¢LUDING DIRE¢TOR5' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 OBJECTS AND ACTIVITIES Oblectlv85 and alms The charlty's oble¢ts as stst out In the Memorandum and Article5 of A550ciatK)n gre.. To promote physlcal and mental health of people with di5abililie5 whether acquired al birth, in childhood or in adLAI life, who would olherwi8e be excluded by 8nabling Ih8m to 8njoy the pl8asures and b&nafit$ ol taking parl In motor sports trad( evgnls, tr>y thè provlslon of adapied and tnocsified vehide5, alongside other people with disabilities and their friends and larnily m8mb8rs. Publlc b9neflt The Iruslees confirm that they hav8 referied lo tho gUidae conlained in the Charity Commissionerts genèral gutdance on public benefit when reviewing the charity'5 airns and objectives and in planning future activities. The Irusleos are satisfied that th6 chariiy coniinues lo meo1 the public b8nefil lesl through ils objectives and aclivities. ACHIEVEMENT AND PERFORMANCE Charitablo aclivltl8S Th& financial rèsulls for the pÈriod are detailed in the Slalemenl of Financial Acliilie5. During the year lh& charlly has fulfilled lis oble¢lives by provldlng trk day expefience5 based al Silverslon8 and are run on the lull Grand prix curcuit. FINANCIAL REVIEW With the addillonal experience nDW up arbd runnlng. our Gos15 have inorea5ed. We have been incr8dibJy diligent to ansura no money Is wasted. but that th experiences and safety are al Ihe highest levels. Continut8d supporl by our MMercIal sponsors makg IhI8 èxtra rlY ex[lOnCe possibla. Wo have received a decent amount of doantions from the public continue to focus on thi$ lo ¢over any loss from comtnercial partnerships. R¢setv¢s pollcy The Irust8es regularly revi Ih818V81 of reserves lo ensure that they are adequate for the eurrent proposed levels of ch8rit8Ne actily. tolal r8serv8s at year end are £f74,65012019- £126,6691 TRUSTEES RESPONSIBILITIES Legislalion requires the Trustees lo prepare financS8l ststsmenls each financial year whlch show a Iru8 and fair view of the slate of affairs ol Ihe Charity and of the income and exp8ndiclur@ of the Charity for that period. In prepar4 those Ilnan¢ial slalemenis. Ihe Trustees a required to.. 8818cI suitable accounting polici85 and Ih8n apply them consis18ntly', make judgments and Èslimales that arp reason8blÈ and prudent., stale whelher applicable 8ccounling standards and stalements of recommended practice have been followed, sublecl lo any dapartures dlscolosad and explèlned In the fin¢saI statements". and prepare the finan¢ial slalemenls on Ihe going ¢on¢ern basis unless It is Inappropriate lo presume Ihal the Charity will ¢onlinu6 10 operate. Thè Trustees are responsible for keeping proper accountiro records which disclos$ with re8sonable a¢¢uracy at any tiumè tho finan¢ial postion ol the Charity and lo ensure that the finanacial statements Gotnplywilh the Charities Act 2011. They are also respon5ib1e for s?fe9uarding Ihe ass8t8 of the Ch8rily and h8nce for taking reasonabl8 steps for the prevenllon and deleclbn of fraud and other irregularilles Approved by order of the board of trustees on . . And sign8d on its behaw by.. M Simp50n- Trusleg
Page 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPINAL TRACK I ropori Io tho ¢harily trusl895 on my 8xarnination of the aceounls of the Company lor the year ersded 31 DeCemr 2020. RÈ$ponslbilltles and ba$15 of report AS th8 charity's Irusteas of the Company land also Ils dlreciors for tl* wrFK)ses of CDmpany lawl you 8re r8sponsibl8 for Ihe preparalim ol Ihe accounts in accordance with th8 rewirement of lh8 Companies Act 20061.lhe 2006 A¢r'i. Havlng satisfied tny5ell that the accounts of the Company 8r8 not required lo b8 audited under Part 16 of the 2006 AGI and are e1igib18 for indep8nd8nl examlnalion, I report in respect ol my examination of the Tru51'5 accoun15 carried out under $e¢iion 145 01 the Charities Acl 20111.lhe 2011 Act l. In carrying out my 8x8mnination I havÈ f¢)Ilowed the DIGI10n5 given by the Charity Commi8sion under Secti 14515llbl ol Ihe 2011 Act. Independent Examlner's Statement I have completed my examination. I confirm that no material matters have come Its my altenlon in conneckn'on with the examitsalion givin9 me ¢èuso to believe Ihal in any tTraterial respecL. ac¢ountlng cOrdS were nol kept in SpeCt of the Company as ¥8quir8d by ?tion 386 of the 2006 Act- or the a¢Unts do rt accoid wilh Ih05e rec(Yds, OT the accounts do fK)t ¢omply wllh the accounting requiremen15 concerning of Section 396 of the 2008 Act other than any requsrement Ihat the accounts give a'lru8 and fair view which is not a maller con8idered as part of an Indepgnd8nl examlnalion or Ihe 8ccuJnls have not been prepared In accoan¢e with the fflelhods and princip18s of the Slalernenl of ReGomfflended Practice for accounting and reporting by ehari118s preparing Iheir a¢¢ounls In accordance wilh th& Flnancial Reporilng Standard applicablo in the UK and IrFland IFRS1021 I have no concèrns and have come a¢ros$ no other matters in GonneGlion with the examnialion to whiGh attention shrmjld bé drawn in Ihis roport in Order to onablo a propor undarstanding of Ih8 accounts to b8 reached. Clalra NOl00d Bsc FCAATII Chartered Accountant Jones Avfrns Llmlted Piper House 4 Dukes Court Boonoi Road Chichester West Sussex P019 8FX Dated 2411112021
Page 4 AL TRAC REGISTERED CHARITY NO.1173285 REGISTERED 5149 Sheet 31 Decembe 20 Nole As at 31.12.2020 Asat 1.12.2019 Foxed Assets Tangi5Ye Assets 26,326 26.602 Current As$¢ts Cash al bank Debtors 146,984 2.450 99,978 897 Liabilities falling due wilhin 12 month5 Creditors 11,2001 18081 Net Curr6nt Assèts 148,234 100.087 Totsl As$¢t$ le$8 ¢yrr?nt Ll8bllltl•s 174,560 126,669 Net Assets 174,560 126, Fund Balance a5 at 31.12.2020 Unreslricled 174,560 126,669 Th8 charllabl8 company Is enlllled to exemplron from audit under SlI0n 477 of the Companies Act 2006 for th8 year ended 31 Decetnber 2020. rnembeis havg not required th8 charitsbie company lo obtn an audil of Its financial $lalement$ for the year ended 31 December 2020 In a¢¢ordance th sedlon 476 of Ihe Companies Act 2006. trustees 8cknowledge Ih&ir repon$ibililies for.. ensuring thai the chariiablts company k6eps aecounting records that ¢¢Jmply with Secllon 386 an($ 387 of Ihe Comparmes Atl 2006 and preparing financial 51alemenls which give a true and f8ir view of the slate of affairs of the charitaNe company as al th8 end of 8ach financial year and of Its surplus or deficit for each financial year in accordance wth lh8 requirernen15 01 Sectis 394 and 395 and which olherwise comply with the requirements of th8 Compan188 Act 20CK relating lo financi85 slalemenls, so far as appli¢able to the ¢harilable ¢otnpany. Ibl Th8se financial 8tat8menls have been pr8par8d in accordance wllh the sp8¢lal provlskjns of part 15 of the Companie$ Act 2006 relalin9 lo $mall Gharilable MpanIes. The finan¢il slalemonls were approv$4 by ix)ard ol tsustees on ....................... . ...and signed on their behelf by M Simpson- Trust The notes on pages 6-9 form part of these 8c¢ounts.
Page S SPINAL TRACK REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 105149f14 Statemont of Flnanclal Actlvltles for the ear ended 31 December 2020 Includin In¢ome alld Ex enditvre AcGounl G8n8ral UnrestrScted Funds Year ended Year &nde(t Incom* and Endowm8nts from.. Donalions and Lggacies 81.226 105,086 Total Income 81,226 105,086 Expenditvie on.. CharilaNe Acliv+lie$ 33,335 54,408 Total R•sourc8s ExpBndod 33,335 54,408 Net Income for the yoarlNgt mtsvemonl In fund8 47,891 50,678 Fund balance brought loard 31.12.2019 12fj,669 75,991 Fund balance carrietl forward 31.12.2020 174.560 £ 126,669 None of the Challty'8 activities were acwlred or dls¢onlinued duiSng Ihls flscal perlod. Th8 Charity has no recognised gains or105ses other than those dealt with in the Slatemenl ol Finan¢ial A¢lwilies. Th8 notes on pago$ 6-9 form part of th6s0 a¢counts.
Pa90 6 SPINAL TRACK REGISTERED CHARITY NO. 1173285 REGISTERED COMPANY NO. 10514904 e Accounts for the arended 31 December 2020 stot 1 ACCOUNTING POLICIES The Splnal Track Charitable Trust Is 8 prlvale cornpany Ilmiled by guarantee incorporated in England and Wales, company number 10514904 and Charity Commission number 1173285. The registered address is Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex, P019 1UF. 1.1 ACCOUNTING CONVENTION These accounts have been yepared in accordance wllh ihe chartly's Memorandum & Articles ol Association, Ihtr Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practi applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Stand8rd applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 2019). The charily is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities 8pplying FRS 102 not lo prepare 8 Statement of Cash Flows. The accounts are prepafed in sl8rllng, which is the functional currency of the charity. The principal accounting policies adopted are sel out below. 1.2 GOING CONCERN Al the lime of approving the accounts, the Iruslees hav8 reasonable expeclalion that the charity has adequate resources to continue In operallonal exbslence for the foreseeable future. Thus Ihe Iruslees, continue lo adopt the going concern basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discretion of the Iruslees in furtherance ol their charllable objectlves unless the funds have been designated for other purposes. 1.4 INCOMING RESOURCES All incoming resour$ are included on the Slalemenl of Financial Activities when the charily is legally enlilled lo the income, the amount can be quantified with reasonable accuracy and it is probable that income will be received. 1.5 CHARITABLE ACTIVITIES Expenditure on charitablè activities consists of the costs necessary lo deliver the charil*s objectives 8nd are accounted for on an 8rual$ basis 1.6 TANGIBLE FIXED ASSETS Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Depreciation is provided al the following annual rates in order lo write off eaGh asset overits eslimaled useful lif8. Motor vehScles- 25Y4 on a reducing balance
Page 7 1.7 GOVERNANCE COSTS Governance costs comprise all costs involving the public accounlabilily of the charity and ils compliance wllh regulation and good practice. These costs include ¢osls related lo slalutory audit and legal fees together with other overhead and support costs. 1.8 CASH AND CASH EQUIVALENTS Cash and cash eouivalenls include deposits held al call with banks. 1.9 FINANCIAL INSTRUMENTS The charity h88 elected to apply the provisions of Section 11 "Basic Financial Instruments. and section 12 "Olher Financial Instruments Issues" of FRS 102 10 all of ils finan¢ial inslrumenls. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls. when there is 8 legally enforceable right to sel off the recognised amounts and there is an intention to sellle on a nel basis or to realise the asset and settle the liabilily simultaneously. Baslc flnanclal assets Basic financial assets, which includes debtors alld cash and bank balances. are inilially measured al transaction Pri including transaction costs and are subsequently carried 81 amortised cost using the effe¢livg interest method unless lh8 arrangement conslilules a financing Iransaclion, where the transaction is measijred al the present value of the future receipts discounted al a market rale of inleresl. Financial a8sels classified as receivable wilhln one ye8r are not amortised. Impairmont of financial assgt$ Financial assets, othèr Ihan Ihose h8ld at lair value through income and èxpènditure, are assessed for indicators of impairment al each reporting dale. Financial assets are impaired where there is objective evidence that, as a result one or more events that occurred after the initial recognition of the financial asset, the eslimaled future cash flows have been affected. If an assgt is impair8d, the impairment loss is the difference bètween the carrying amount and the present value of the estimated cash flows discounted al the asset's original effective interest r&le. Tho impairmenl loss is recognised in nel incom8llexpendilurel for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impaiimenl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impaiimenl previously been recognised. The impairment reversal Is recognised in nel incomellexpenditurel for the year. Baslc flnanclal Ilabllltlas Basic financial liabilities, including trade and other payables, ale initially recognised al transaction pri¢@ unlèss the ariangomenl constilu16s a financing Iran5aclion. where the debt inslrumenl is measured al the present value of the future receipts discounted al a market rale of interest. Debt inslrumenis are subsequently carried at amortisad cost, Using the effectivè interest rale method. Trade payables are obligations lo pay for goods or services Ihal have been acquired in the ordinary course of operations from suppliers. Accounts payable are classed as current liabilities rf payment is due within one year or less. 11 not, they are presented as non-currgnl liabilities. Trade payables are recognised initially al Iransactk)n price and subsequently Jneasured al amortised cost using the effective interest method.
Page 8 Derècognition of financial liabilities Flnancial liabilities are deieeognise(t when the charills conlraclual obligations expire or are discharged or cancelled. 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales 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 lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects Dnly that period, or in the period of thè revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Page 9 spi REGISTEREO CHARITY N .1173285 REGISTERED COMPANY NO. 10514904 Notes to the Accounts for the èdr ended 31 December 2020 Noto Y88r ended 1.12.2020 Yoar ended 31.12.201 3 DONATIONS AND LEGACIES Don&lions and glfis 81.226 105,oe6 Year ended 31.12.2020 Year Endgd 4 TANGIBLE FIXED ASSETS COST Al 1 January 2020 Additions A5 8131 December 2020 49,385 8,5(K) 57,885 46.890 2,495 49.385 DEPRECIATION Al l January 2020 Charge for year As al 31 Dee8mber 2020 22.783 8,776 31,559 13,586 9,197 22,783 NÈT BOOK VALUE Al 31 December 2020 26,326 26.602 Al 31 December 2019 26.602 33,304 5 DEBTORS- AMOUNTS FALLING DUE WITHIN ONE YEAR Year ended 31.12.2020 Year ended PPayMents 2,450 897 6 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Year ended 31.12.2020 Year endgd 31.12.2019 Accrued exp8n$8$ 808 7 SUPPORT AND GOVERNANCE COSTS Account8nl f80 Audil fee Company Se¢reiarl81 Insuranc8 Postage Adverlisiw costs Website cosls Gifts 10 spr80r$ Bank charges 1881 1,200 600 28 3,980 53 1,549 173 3.976 112 1.918 301 476 67 Basis ofAllocalion.' All of the governance and support Costs are allocated to the Charitsble aclivilies toialling £7,962 In 20201£6,389 in 20191
Pagtr 10 EGISTEREO CHARITY NO.117 EGISTERED CO ts lor thè 49 31D ear ettde 8 MOVEMENT IN FUNDS Net movement In funds Unrestrlcted fund8 General fund 126,669 47,891 174,560 TOTAL FUNDS Nel movtThnl In fund$, inGluded in the above are a5 follows.. Incoming Rèsource5 Movement Unrèstrlcted fund Gener81 fund 81,226 133.3351 47,891 TOTAL FUNDS Compardfjve net Trrf)vemenl In funds, [ruded In th8 abov8 are 88 folltsws.. Incoming sourc R8sourc85 ended Movoment in funds ilnrostr5cted fund8 General fund 105.D86 154,4081 50,678 TOTAL FUNDS A currant year 12 month8 8nd prior ytrar 12 monlhs ¢ombined p05ilion is as follow8.. N8t m0Ment At unstrICted funds General fund 75.991 98,569 174.560 TOTAL FUNDS N81 mov8m8nl In funds, iniauded in the gbove are as folbws.. A current year 12 month8 and prior year 12 monlh$ combined net mtsveTNenl in fund8, included in Ih8 abovè are as followB.' Irwtning Resourc85 trx ended Movfymenl funds Unr8Strlcted fund$ Gener81 fund 186.312 187.7431 98,SBg TOTAL FUNDS 186,312 187.743 98.569 9 RELATED PARTY DISCLOSURES Thwe were no reloled party IransoGlions for the year ended 310ecemb8r202Q 12019-nill 10 EMPLOYEES There were no etnployees during the ar(2019..oI1l 11 TRANSACTIONS WITH TRUSTEES There were rK) panen1$ for remuneration or exp8ns8s io Irusl8és during tt)e year12Q19.'nill
Page11 NAL TRACK REGISTERED CHARITY NO.11 3285 REGISTERED CO 0. 1051 90 Dotallled Stattment of Flnan¢lal Activili05 torthe ear ended 31 Oecefflber 2020 Nots Yoar endèd 31.12.2020 Yoar ended 31.12.2019 INCOME AND ENDOWMENTS Donat40ns and legacies Dgnalions roGgived Sponsorship received 13.726 67,500 33.777 71.309 Total in¢omlng resourcès 81.226 105,oa6 EXPÉNDITURE Other Moloring expense5 Track Day costs Molor vehiGles- dgpreGlaUotb 4.575 12.022 8,776 28,291 10.531 9.197 25.373 48.019 Support CO8t8 Management Insurance Poslag£ and slatk>nery Adwertising SundrI88 3.976 3,980 53 1.722 2.220 476 6.783 5,755 Flnan¢6 B8nk charg88 67 Govwnance ¢0st$ A¢u(aCY and legal fees Total outgoino resources 1.112 33.335 628 54,408 Net Incom8 47.891
IM irwinmitchell SPINAL TRACK REGISTERED CHARITY NO. 1173285 EGISTERED COMPANY NO 0514904 FINANCIAL STATEMENTS For the ear ended 31 Df tgmbgr 2020 IR8f.. 054103301
SP NAL TRA REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 10514904 Co te for tho t8to ear ended 31 December 202 Annual Rep)rt of the TrusteBs Ind&p8ndent Examiners Report Balanc* Sheet Statement of Financial Aclivilies 6-11 Not•s lo FnanCIal Sla18m8nls
Page 1 SPINAL TRAC REGISTERED CHARITY NO.1173285 RE TERED ANYN REPORT OF THÉ TRUSTEES (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DECEMBER 2020 Thg Irusle88 who ar8 dso di¢10r$ of Ihe ¢harily for the purposes of the C0[npnl@S Act 2006, pre88nl their r8POrt with the financial slalemenls of the charity for the year 8nd8d 31 Decembsr 2020. The accounts hav? been prepared In ac¢ordance wilh the accounllng pdicies sel out in note 1 to the a¢UnIS and comply with the charills goverrnirvJ docum&nt. the Companie5 Act 2W6 and'Accountin9 8nd Reporting by Charities.. Statement of Recommended Pra¢ti¢e oppli¢aNe to charities preparlng Iheir accounts in accordance with lh& Financial Reporting Slandaid applicable in the UK arKS Republic of Ireland IFRS1021. REFERENCE AND ADMINISTRATION DETAILS R&glsterfjd Company fjumber lo5144 IEn9land and Wal881 Reglstered Charlty number 1173285 Reglstered offi¢e Thornas Eggar Hou58, Frtary Lan Chiche$ter, Wesl Suss&x P019 1UF Trustees SJWEvan$ M Simpson (appointed 28.2.20201 Ms J Y Harding Iresigned 11.6.20211 O Pond lappoinled 11.6.20211 exatnln9r Claire Notwood BSC FCA ATII Jones Avens Litniled Pip8r Hous8, 4 Duk88 Court Bognor Road, Chich0s1gr W88t Sus88X P019 8FX Soll¢ltors Irwin Milchell LLP Thomas Eggar house Fri8ry Lane, Chichester West Su8S8X P019 IUF Banker8 HSBC UK STRUCTURE, GOVERNANCE AND PIANAGEMENT Governlng IlocumÈnt Spinal Track is controlled by ils governing docurnenl, a deed of Iru51, and conslitules a limited company. Ilmiled by gu8ranle8, as defined by IhÈ Companies Act 28
Paue 2 SPINAL TRA REGISTERED CHARITY NO.1173285 RÉ TERED MPANY N REPORT OF THE TRLSSTEES IIN¢LUDING DIRE¢TOR5' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 OBJECTS AND ACTIVITIES Oblectlv85 and alms The charlty's oble¢ts as stst out In the Memorandum and Article5 of A550ciatK)n gre.. To promote physlcal and mental health of people with di5abililie5 whether acquired al birth, in childhood or in adLAI life, who would olherwi8e be excluded by 8nabling Ih8m to 8njoy the pl8asures and b&nafit$ ol taking parl In motor sports trad( evgnls, tr>y thè provlslon of adapied and tnocsified vehide5, alongside other people with disabilities and their friends and larnily m8mb8rs. Publlc b9neflt The Iruslees confirm that they hav8 referied lo tho gUidae conlained in the Charity Commissionerts genèral gutdance on public benefit when reviewing the charity'5 airns and objectives and in planning future activities. The Irusleos are satisfied that th6 chariiy coniinues lo meo1 the public b8nefil lesl through ils objectives and aclivities. ACHIEVEMENT AND PERFORMANCE Charitablo aclivltl8S Th& financial rèsulls for the pÈriod are detailed in the Slalemenl of Financial Acliilie5. During the year lh& charlly has fulfilled lis oble¢lives by provldlng trk day expefience5 based al Silverslon8 and are run on the lull Grand prix curcuit. FINANCIAL REVIEW With the addillonal experience nDW up arbd runnlng. our Gos15 have inorea5ed. We have been incr8dibJy diligent to ansura no money Is wasted. but that th experiences and safety are al Ihe highest levels. Continut8d supporl by our MMercIal sponsors makg IhI8 èxtra rlY ex[lOnCe possibla. Wo have received a decent amount of doantions from the public continue to focus on thi$ lo ¢over any loss from comtnercial partnerships. R¢setv¢s pollcy The Irust8es regularly revi Ih818V81 of reserves lo ensure that they are adequate for the eurrent proposed levels of ch8rit8Ne actily. tolal r8serv8s at year end are £f74,65012019- £126,6691 TRUSTEES RESPONSIBILITIES Legislalion requires the Trustees lo prepare financS8l ststsmenls each financial year whlch show a Iru8 and fair view of the slate of affairs ol Ihe Charity and of the income and exp8ndiclur@ of the Charity for that period. In prepar4 those Ilnan¢ial slalemenis. Ihe Trustees a required to.. 8818cI suitable accounting polici85 and Ih8n apply them consis18ntly', make judgments and Èslimales that arp reason8blÈ and prudent., stale whelher applicable 8ccounling standards and stalements of recommended practice have been followed, sublecl lo any dapartures dlscolosad and explèlned In the fin¢saI statements". and prepare the finan¢ial slalemenls on Ihe going ¢on¢ern basis unless It is Inappropriate lo presume Ihal the Charity will ¢onlinu6 10 operate. Thè Trustees are responsible for keeping proper accountiro records which disclos$ with re8sonable a¢¢uracy at any tiumè tho finan¢ial postion ol the Charity and lo ensure that the finanacial statements Gotnplywilh the Charities Act 2011. They are also respon5ib1e for s?fe9uarding Ihe ass8t8 of the Ch8rily and h8nce for taking reasonabl8 steps for the prevenllon and deleclbn of fraud and other irregularilles Approved by order of the board of trustees on . . And sign8d on its behaw by.. M Simp50n- Trusleg
Page 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPINAL TRACK I ropori Io tho ¢harily trusl895 on my 8xarnination of the aceounls of the Company lor the year ersded 31 DeCemr 2020. RÈ$ponslbilltles and ba$15 of report AS th8 charity's Irusteas of the Company land also Ils dlreciors for tl* wrFK)ses of CDmpany lawl you 8re r8sponsibl8 for Ihe preparalim ol Ihe accounts in accordance with th8 rewirement of lh8 Companies Act 20061.lhe 2006 A¢r'i. Havlng satisfied tny5ell that the accounts of the Company 8r8 not required lo b8 audited under Part 16 of the 2006 AGI and are e1igib18 for indep8nd8nl examlnalion, I report in respect ol my examination of the Tru51'5 accoun15 carried out under $e¢iion 145 01 the Charities Acl 20111.lhe 2011 Act l. In carrying out my 8x8mnination I havÈ f¢)Ilowed the DIGI10n5 given by the Charity Commi8sion under Secti 14515llbl ol Ihe 2011 Act. Independent Examlner's Statement I have completed my examination. I confirm that no material matters have come Its my altenlon in conneckn'on with the examitsalion givin9 me ¢èuso to believe Ihal in any tTraterial respecL. ac¢ountlng cOrdS were nol kept in SpeCt of the Company as ¥8quir8d by ?tion 386 of the 2006 Act- or the a¢Unts do rt accoid wilh Ih05e rec(Yds, OT the accounts do fK)t ¢omply wllh the accounting requiremen15 concerning of Section 396 of the 2008 Act other than any requsrement Ihat the accounts give a'lru8 and fair view which is not a maller con8idered as part of an Indepgnd8nl examlnalion or Ihe 8ccuJnls have not been prepared In accoan¢e with the fflelhods and princip18s of the Slalernenl of ReGomfflended Practice for accounting and reporting by ehari118s preparing Iheir a¢¢ounls In accordance wilh th& Flnancial Reporilng Standard applicablo in the UK and IrFland IFRS1021 I have no concèrns and have come a¢ros$ no other matters in GonneGlion with the examnialion to whiGh attention shrmjld bé drawn in Ihis roport in Order to onablo a propor undarstanding of Ih8 accounts to b8 reached. Clalra NOl00d Bsc FCAATII Chartered Accountant Jones Avfrns Llmlted Piper House 4 Dukes Court Boonoi Road Chichester West Sussex P019 8FX Dated 2411112021
Page 4 AL TRAC REGISTERED CHARITY NO.1173285 REGISTERED 5149 Sheet 31 Decembe 20 Nole As at 31.12.2020 Asat 1.12.2019 Foxed Assets Tangi5Ye Assets 26,326 26.602 Current As$¢ts Cash al bank Debtors 146,984 2.450 99,978 897 Liabilities falling due wilhin 12 month5 Creditors 11,2001 18081 Net Curr6nt Assèts 148,234 100.087 Totsl As$¢t$ le$8 ¢yrr?nt Ll8bllltl•s 174,560 126,669 Net Assets 174,560 126, Fund Balance a5 at 31.12.2020 Unreslricled 174,560 126,669 Th8 charllabl8 company Is enlllled to exemplron from audit under SlI0n 477 of the Companies Act 2006 for th8 year ended 31 Decetnber 2020. rnembeis havg not required th8 charitsbie company lo obtn an audil of Its financial $lalement$ for the year ended 31 December 2020 In a¢¢ordance th sedlon 476 of Ihe Companies Act 2006. trustees 8cknowledge Ih&ir repon$ibililies for.. ensuring thai the chariiablts company k6eps aecounting records that ¢¢Jmply with Secllon 386 an($ 387 of Ihe Comparmes Atl 2006 and preparing financial 51alemenls which give a true and f8ir view of the slate of affairs of the charitaNe company as al th8 end of 8ach financial year and of Its surplus or deficit for each financial year in accordance wth lh8 requirernen15 01 Sectis 394 and 395 and which olherwise comply with the requirements of th8 Compan188 Act 20CK relating lo financi85 slalemenls, so far as appli¢able to the ¢harilable ¢otnpany. Ibl Th8se financial 8tat8menls have been pr8par8d in accordance wllh the sp8¢lal provlskjns of part 15 of the Companie$ Act 2006 relalin9 lo $mall Gharilable MpanIes. The finan¢il slalemonls were approv$4 by ix)ard ol tsustees on ....................... . ...and signed on their behelf by M Simpson- Trust The notes on pages 6-9 form part of these 8c¢ounts.
Page S SPINAL TRACK REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 105149f14 Statemont of Flnanclal Actlvltles for the ear ended 31 December 2020 Includin In¢ome alld Ex enditvre AcGounl G8n8ral UnrestrScted Funds Year ended Year &nde(t Incom* and Endowm8nts from.. Donalions and Lggacies 81.226 105,086 Total Income 81,226 105,086 Expenditvie on.. CharilaNe Acliv+lie$ 33,335 54,408 Total R•sourc8s ExpBndod 33,335 54,408 Net Income for the yoarlNgt mtsvemonl In fund8 47,891 50,678 Fund balance brought loard 31.12.2019 12fj,669 75,991 Fund balance carrietl forward 31.12.2020 174.560 £ 126,669 None of the Challty'8 activities were acwlred or dls¢onlinued duiSng Ihls flscal perlod. Th8 Charity has no recognised gains or105ses other than those dealt with in the Slatemenl ol Finan¢ial A¢lwilies. Th8 notes on pago$ 6-9 form part of th6s0 a¢counts.
Pa90 6 SPINAL TRACK REGISTERED CHARITY NO. 1173285 REGISTERED COMPANY NO. 10514904 e Accounts for the arended 31 December 2020 stot 1 ACCOUNTING POLICIES The Splnal Track Charitable Trust Is 8 prlvale cornpany Ilmiled by guarantee incorporated in England and Wales, company number 10514904 and Charity Commission number 1173285. The registered address is Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex, P019 1UF. 1.1 ACCOUNTING CONVENTION These accounts have been yepared in accordance wllh ihe chartly's Memorandum & Articles ol Association, Ihtr Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practi applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Stand8rd applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 2019). The charily is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities 8pplying FRS 102 not lo prepare 8 Statement of Cash Flows. The accounts are prepafed in sl8rllng, which is the functional currency of the charity. The principal accounting policies adopted are sel out below. 1.2 GOING CONCERN Al the lime of approving the accounts, the Iruslees hav8 reasonable expeclalion that the charity has adequate resources to continue In operallonal exbslence for the foreseeable future. Thus Ihe Iruslees, continue lo adopt the going concern basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discretion of the Iruslees in furtherance ol their charllable objectlves unless the funds have been designated for other purposes. 1.4 INCOMING RESOURCES All incoming resour$ are included on the Slalemenl of Financial Activities when the charily is legally enlilled lo the income, the amount can be quantified with reasonable accuracy and it is probable that income will be received. 1.5 CHARITABLE ACTIVITIES Expenditure on charitablè activities consists of the costs necessary lo deliver the charil*s objectives 8nd are accounted for on an 8rual$ basis 1.6 TANGIBLE FIXED ASSETS Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Depreciation is provided al the following annual rates in order lo write off eaGh asset overits eslimaled useful lif8. Motor vehScles- 25Y4 on a reducing balance
Page 7 1.7 GOVERNANCE COSTS Governance costs comprise all costs involving the public accounlabilily of the charity and ils compliance wllh regulation and good practice. These costs include ¢osls related lo slalutory audit and legal fees together with other overhead and support costs. 1.8 CASH AND CASH EQUIVALENTS Cash and cash eouivalenls include deposits held al call with banks. 1.9 FINANCIAL INSTRUMENTS The charity h88 elected to apply the provisions of Section 11 "Basic Financial Instruments. and section 12 "Olher Financial Instruments Issues" of FRS 102 10 all of ils finan¢ial inslrumenls. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls. when there is 8 legally enforceable right to sel off the recognised amounts and there is an intention to sellle on a nel basis or to realise the asset and settle the liabilily simultaneously. Baslc flnanclal assets Basic financial assets, which includes debtors alld cash and bank balances. are inilially measured al transaction Pri including transaction costs and are subsequently carried 81 amortised cost using the effe¢livg interest method unless lh8 arrangement conslilules a financing Iransaclion, where the transaction is measijred al the present value of the future receipts discounted al a market rale of inleresl. Financial a8sels classified as receivable wilhln one ye8r are not amortised. Impairmont of financial assgt$ Financial assets, othèr Ihan Ihose h8ld at lair value through income and èxpènditure, are assessed for indicators of impairment al each reporting dale. Financial assets are impaired where there is objective evidence that, as a result one or more events that occurred after the initial recognition of the financial asset, the eslimaled future cash flows have been affected. If an assgt is impair8d, the impairment loss is the difference bètween the carrying amount and the present value of the estimated cash flows discounted al the asset's original effective interest r&le. Tho impairmenl loss is recognised in nel incom8llexpendilurel for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impaiimenl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impaiimenl previously been recognised. The impairment reversal Is recognised in nel incomellexpenditurel for the year. Baslc flnanclal Ilabllltlas Basic financial liabilities, including trade and other payables, ale initially recognised al transaction pri¢@ unlèss the ariangomenl constilu16s a financing Iran5aclion. where the debt inslrumenl is measured al the present value of the future receipts discounted al a market rale of interest. Debt inslrumenis are subsequently carried at amortisad cost, Using the effectivè interest rale method. Trade payables are obligations lo pay for goods or services Ihal have been acquired in the ordinary course of operations from suppliers. Accounts payable are classed as current liabilities rf payment is due within one year or less. 11 not, they are presented as non-currgnl liabilities. Trade payables are recognised initially al Iransactk)n price and subsequently Jneasured al amortised cost using the effective interest method.
Page 8 Derècognition of financial liabilities Flnancial liabilities are deieeognise(t when the charills conlraclual obligations expire or are discharged or cancelled. 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales 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 lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects Dnly that period, or in the period of thè revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Page 9 spi REGISTEREO CHARITY N .1173285 REGISTERED COMPANY NO. 10514904 Notes to the Accounts for the èdr ended 31 December 2020 Noto Y88r ended 1.12.2020 Yoar ended 31.12.201 3 DONATIONS AND LEGACIES Don&lions and glfis 81.226 105,oe6 Year ended 31.12.2020 Year Endgd 4 TANGIBLE FIXED ASSETS COST Al 1 January 2020 Additions A5 8131 December 2020 49,385 8,5(K) 57,885 46.890 2,495 49.385 DEPRECIATION Al l January 2020 Charge for year As al 31 Dee8mber 2020 22.783 8,776 31,559 13,586 9,197 22,783 NÈT BOOK VALUE Al 31 December 2020 26,326 26.602 Al 31 December 2019 26.602 33,304 5 DEBTORS- AMOUNTS FALLING DUE WITHIN ONE YEAR Year ended 31.12.2020 Year ended PPayMents 2,450 897 6 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Year ended 31.12.2020 Year endgd 31.12.2019 Accrued exp8n$8$ 808 7 SUPPORT AND GOVERNANCE COSTS Account8nl f80 Audil fee Company Se¢reiarl81 Insuranc8 Postage Adverlisiw costs Website cosls Gifts 10 spr80r$ Bank charges 1881 1,200 600 28 3,980 53 1,549 173 3.976 112 1.918 301 476 67 Basis ofAllocalion.' All of the governance and support Costs are allocated to the Charitsble aclivilies toialling £7,962 In 20201£6,389 in 20191
Pagtr 10 EGISTEREO CHARITY NO.117 EGISTERED CO ts lor thè 49 31D ear ettde 8 MOVEMENT IN FUNDS Net movement In funds Unrestrlcted fund8 General fund 126,669 47,891 174,560 TOTAL FUNDS Nel movtThnl In fund$, inGluded in the above are a5 follows.. Incoming Rèsource5 Movement Unrèstrlcted fund Gener81 fund 81,226 133.3351 47,891 TOTAL FUNDS Compardfjve net Trrf)vemenl In funds, [ruded In th8 abov8 are 88 folltsws.. Incoming sourc R8sourc85 ended Movoment in funds ilnrostr5cted fund8 General fund 105.D86 154,4081 50,678 TOTAL FUNDS A currant year 12 month8 8nd prior ytrar 12 monlhs ¢ombined p05ilion is as follow8.. N8t m0Ment At unstrICted funds General fund 75.991 98,569 174.560 TOTAL FUNDS N81 mov8m8nl In funds, iniauded in the gbove are as folbws.. A current year 12 month8 and prior year 12 monlh$ combined net mtsveTNenl in fund8, included in Ih8 abovè are as followB.' Irwtning Resourc85 trx ended Movfymenl funds Unr8Strlcted fund$ Gener81 fund 186.312 187.7431 98,SBg TOTAL FUNDS 186,312 187.743 98.569 9 RELATED PARTY DISCLOSURES Thwe were no reloled party IransoGlions for the year ended 310ecemb8r202Q 12019-nill 10 EMPLOYEES There were no etnployees during the ar(2019..oI1l 11 TRANSACTIONS WITH TRUSTEES There were rK) panen1$ for remuneration or exp8ns8s io Irusl8és during tt)e year12Q19.'nill
Page11 NAL TRACK REGISTERED CHARITY NO.11 3285 REGISTERED CO 0. 1051 90 Dotallled Stattment of Flnan¢lal Activili05 torthe ear ended 31 Oecefflber 2020 Nots Yoar endèd 31.12.2020 Yoar ended 31.12.2019 INCOME AND ENDOWMENTS Donat40ns and legacies Dgnalions roGgived Sponsorship received 13.726 67,500 33.777 71.309 Total in¢omlng resourcès 81.226 105,oa6 EXPÉNDITURE Other Moloring expense5 Track Day costs Molor vehiGles- dgpreGlaUotb 4.575 12.022 8,776 28,291 10.531 9.197 25.373 48.019 Support CO8t8 Management Insurance Poslag£ and slatk>nery Adwertising SundrI88 3.976 3,980 53 1.722 2.220 476 6.783 5,755 Flnan¢6 B8nk charg88 67 Govwnance ¢0st$ A¢u(aCY and legal fees Total outgoino resources 1.112 33.335 628 54,408 Net Incom8 47.891