THE SPINAL TRACK ANNUAL REPORT FOR 1/1/21 – 31/12/21
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. We then added a disabled rally school to our experiences, to become the World leading supplier of disabled driving experiences.
2021 Charity achievements:
Covid was still a present issue in 2021 and we agreed that we would restart once all restrictions were removed. We have high risk beneficiaries and also we didn’t want to add further stress and complication to our days. We restarted in the final few months and carried out two track days and four rally days. We spent the off time building new cars in readiness for a very busy 2022.
Fundraising:
In the same way as 2020 panned out, we struggled with normal fundraising due to lockdown, but thankfully our sponsors stayed with us and we built some new relationships with other businesses to help us through this year and future years.
Trustees: Simon Evans Mike Simpson David Pond
Signed on behalf of the Trustees:
Andrew Bayliss Co-founder 30/10/2022
IM irwinmitchell SPINAL TRACK REGISTEREO CHARrtY NO. 1173286 RÉG •n IRefr. OS410330)
SPITriAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10614904 Contents Flnancknl 8tat•m•r 21 Decemb 1Q. Anwal Report ofthè TnJstee$ Indendent ExAmlnel8 Report 8SLqr St1 Staièrnent of Finwual Activib'es 6-11 Notes to Flnandd Ststwngnt8
Page I SPINAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10514904 REPORT OF THE TRUSTEES (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DEceMBER 2021 Th•twst•o$ who are alw directors of the Gharity for the purposts of the Ctynpanie$ Art 20(6. we#ent Ihelr report with the financial slatem&nt$ of the ¢haiity for the year ended 31 December 2021. The a¢¢ounts have been prepared in axordartce the accountirg polityes set out in nole 1 to the accounts and compty with the charitys govÈming dOnt, Ihe Companieg Act 2006 8nd"Accounting and Reporting by Charitles". Statement of RecomrnendEd Prath"ee aPiCab to charities pmpanng their Cour In ac£ordanc wth the Financlal Roporthng Standard appli¢abb in the UK and Rgpubk of IrelaThY IFRS1021. REFERENCE AND ADMINISTRATION DETAILS R•gi$tsred Company numb•r 10514904 IEr8land and Wales) R•gistr¢d Ch*rlty numb8r 1173285 Rtgl•tsred office Th¢rDa6 Egyar Hou$e, Friary Lano Chicheslw, W85t Su$s•x P019 1UF SJWEvans M Simps M5 J Y Hard'ny Imsig 11.6.20211 D Pond (appointed 11.6.20211 Ind•p•nd•nt examlner Claire Norwood BSC FCA ATII Jones Aven$ Pper How, 4 txjkes crt Bognor Road. chiCter W981 Suss8X P019 8FX So¢1t0r• Irwin Mitchel LLP Thom8s Egg¥ hw8e Fary Lane. Chi¢he8ter Wast Sussex P019 1UF B¥nkers HSBC UK STRUCTURE. GOVERNANCE AND MAMAGEMENT Gov•mlng do¢unwnt Spinal Track is oentrolkd by ts goveming drtthnent. 8 deed oftrutst. and con9ffibJteg a limited wpany, lknfted by guarantee, a8 dtrfined by the Companies Act 2006
Page 2 SPINAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10S14904 REPORT OF THE TRUSTEES IWCLUDING DIRE¢foRS' REpoAfJ FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTS AND ACTrrfrriE$ Obleclives and aims ¢honty'$ objects as 8et Out In the MemoraThJuTn and Artides ofAswciafjon ar.. To promote physitol ar mental health of p¢op18 wilh disabilties whBlher a¢quirJ at birth, in chibJh¢)oJ or in adutt life, ¥thDwould othetwi$e bts exthded by enabling them to enjoy the pleasures ènd b2nefils of laklng part in frK)lor spcfls track events, by the prtiwsion of adapteil and m¢xlffjied vehicles. along$pJe olher peopje vAlh di$abilits8 an(1 their frnd5 and family rnembets. Publlc benefft trustees confimi that thay have refeed to the guidance conlained in thg Charity CommissJne¢$ 9trneral guidanre on wblir benefitthen reviewr¥J the chaws aim5 and objectNes aj in pLqnning ftstwe actmties. The trus18es are 8aknsd that 1he charity n"nu&S to mgelthg pubfic benefft tast Ihrough its obittts.ves and a¢tNktw. AcHIEvEMEfr AND PERFORMANCE Charftabk actlvltles The fiTh8rrial rasutts forthe period are detslled in the St8¢emenl of Finandal DuriNJ the year the Larity has fuffi118d its objectives by providiny track day experien ba at Silverst0 and are run on the tul Gmnd prix r¢U1( FINANCIAL REVIEW Wmh the additional eyperience up and running, our COBIS have incwo88&J. Vve have been in¢yedit4y diligent lo ensure no mOY is wast. bul that Iho 8xp•riences and $8f&ty are 81 the hvJhesl IEveL8. Continuted 5UPPOrt by our cornme1 sponsors mab lhis oktra ralfy experience possibb. We have rEiYNed a d2Kznt arnounl of doantions frcm the put4ic and continuo tty foGu$ ¢rb this tr) cover anyloss from commercial partnerships. polky The Iru5tEe$ gulaY re¥Wt level ol re8erve8 to tUre Ihat they are Èdequate for Ihe wrTent and proposed vel$ of chthtable a¢tsW. The total reserves at the yeareTrJ are £238.41812020-£174.65QI TRUSTEES RE8PONSIBILmES Legislation requirgs the TStee5 to PTEpare financial 8tstemeDts for each financial yearwhich 8how e true and fair view of the state of affairs of the Charity and of the inc4me and expendicture ofthe eharily for that yriod. In preparin9 those financial statements, Truslees Hre required ttt. -setI 8uftabk o¢e•unting policies and then apply Ihem consi51enty,' - make ju($3nts and oStSmate$ that are re8$on*Ae and prudent., -slate whether 8pplicable accountirvj standards and statement$ of re¢OMjed practi have been lolbmw. gubJ"e¢tto any departiwes discoloeed and exphined in the finon¢ial 8to1gmen¢8'. nd - prepa the financ1 statement$ OTr tho going conc8m basis unkns tt 1$ Inapproprtate to W96UN thot Ihe charity will continue to operats. The Trustees are re8pon8ible for keeping proper accounty.ng records whith discb8e reh#ontknle atr8¢Y at any ts.un the ffinancial postion of Ihe Charity and to ensure thht the finana¢lal statements comply with the CharitsBs Acl 2011. They are also re$pon$iWe for safeguarding Ih assets of the Charity and hence for taking rèa80naNe step8 forthe ye¥ents"c41 and deteclion of fraud and other irregularilies 2L Appmved ty orderofthe board oftNstseB on .. ................ ......... . . And $vJn8d on tehalf by.. M Slmpson-Tru$
Pa4 NAL TRAC REGISTERED CHARITY NO.11n28S REGISTERED CO Y NO. 10S14904 lnco She•t as •t 31 r 2D21 A¥ at 31.112021 at 31.122020 Fixed A•••ts Tarrtjibb Assets 19.74S 26,328 CUff•ntfjI4 Cash at bar 219,125 1.949 146,984 2,450 abilitie5 lalling ¥thIn 12 month6 Creditovs 12.4001 11,2001 218.674 148,234 Total Ags•ts l•# Curn•nt UabSllU•4 238,418 174,&80 238,418 174,560 Fund Balanee •• at 31.12.2021 ijnrestricted 238.418 174,560 The d)arft8ble cornpany is entitled to exerwn from gutht uThJer Secoon 477 ofth? Compank8 Acl 2006 lor the year 31 December 2021. The tYmber3 have not required the ¢N8TiiaNe eoryiany to obtsln 8n of firClaI stat•nnts S)r Ihe year ended 31 Dgwnbw 2021 In accordan th section 476 of th• C•mpwies Act 2006. Thetnntees ackntrwled9¢ thr reponsibilities for." 8n6uring that Ihe ¢8ritabl8 company keeps a¢unI1ng records that comptywith Se¢tM)n 386 and 387 ofthe Cornpanies Act 20[ ond preparing finangIStatrentS which give ? tr gnd fair view of the $t8le of affair5 of th• ¢haritable company as al the end of each finanrial yaf and of its sulUS or deficit for each financial year in accordance th ltr vequimient$ of Sections 394 and 395 and which otherwge cornpty with the quirents ofth6 Cornpanies A¢t 2006 ting to financkql statvments. $0 far as 8pplicable to th• ¢hantab company. {bl These financial $tstements have been prepared in aCrdae ¥th the specigl pro¥i$ion$ ofpart 15 of the Corryan 2Q06 relaling to $rnall th8Tttabk cornpari•s. The fmanrthl statements were ty thè bo¥d Ofttee¥ w...................... .... ..anJ $ign8d OTh their behawby M Sryson- Twustee Th? on pa9e$ fy9 I psrt ofthe8• a¢courl*
P4p3 IfrJDEPÉNDEiif EXAMINER'S REPORT TO TRUSTEE8 OF SPWiAL TRACK I reputl to the thority InJslee$ on my examimtitin olthe 8¢cfjunis ofthe Cornpany for the yearendgd 31 08mber 2021 Re$pon$lblUtlg8 and basls of r•port As the charivs tTU5tee$ of the corryny laThJ also it8 fliwtors for Ihe purpo8•b of e<)mpany law) you 8r8 reSpsibl9 for th8 preparalion of the accounts in accordance ith Ihe requirement of the Compani•5 Act 2006 (e 2006A¢t l. Hn9 8ath'sfied myseNthat t ac&)unts of the ¢1panY we npt roquir•d to to audite(l und8r Part 16 of th$ 20Ct8 A¢t and ar¢ eIvj for ind8pèndont ¢xamination. I report in respfjct of my exominalion of the TwsV5 ac£ount$ ¢arried oul under secltyjn 145 of the Charitie5 Act 2011 Ilhe 2011 Acri. In carrying oui my examninatson I have folknved Dire¢tion$ gNen by the Charity Commission der 8ecthon 14515llbl of the 2011 Ael. Indepondont Examinerf¥ Sttem•nt I ¥• eompht•d my examin8tiDn. I confirm that no maten"o1 matter8 have come to my altenb.on in connection wth t exarninatn giving MÈ eause to belwo that in any rnaterial resFo¢t'. attrxJnlin9 records were rh)t kept in re8rd of the Company as wuired by 9odion 386 ofthe 2006 Ad,. or the ac£ounts do not aecord wlth ttrwe records, vr th8 arxounts not compty with Ihe aA+Unting requirement5 conc19 olsKtion 396 olthe 20C6ALt other than any Nuirement that the accourts 9Ne a and lairvitw whi¢h18 llot a matter 8O¢red Ès part oran Indeent examination or the attounts have not teen prep8red in #ceordawth the meth>Y$ dnd prlThrApkn of the Staternent of RecommeThJed Pr#cti( for accounb'ng and rtportiw by charibes preparing their acGDunts in acwdarKa with the FinaneAal Reporb"ng Standwd apF4ic4blÈ in thè UK and Ir¢tsnd IFRS1021 I have no concrr% and have Gome a¢ro$$ no other rnatters In conngdon with the examniation to whi¢h ottention 8houkl b• dta4w in Ihis report In order lo enabl a proper understaTrJir¥J Oft at¢J)unls to be reached. Claire Nohwmod Bsc FCA ATII Ch•rt•red Accountant Jones Aver Limited 'F¢r Hou 4 Dukes Court Bognor Road Chichesler West Sus8ex P019 8FX 2810912022
Pag• 5 SPINAL TRACK RÉGISTEREO CHARtrY NO.1173286 REGISTERED COMPANY NO. 10514904 stat•rntnt of Fin&ntl Activitie¥ for the Ir ended 31 December 2 n¢ludln Income and ex ndlture Atcount G•n•rnl Unre8tr1Ct Fun Year•nd•d 1 12 2021 Year onded and Endtrme C%)rwtiM$ and Legag98 88,045 81,228 Total In¢om• 88.045 81,228 ExpEndilm on: Charitst4e Actiwti•s 11 24,188 33,335 Total Re¥ourco¥ Exp•nd 24,188 33,335 Not intomÉfor the yearlN•t movement in Ind¥ 63.858 47,891 Fund ba1)Th bmught forward 31.12.2020 174,$60 126,669 Fund balance caFrlBd frywrd 31.12.2021 238,418 £ 174,560 None of the Charity8 .¥iey were 8cquSred or discon*"fiu8d duriry tIMs fis¢al period. The Chwily hag no recognk%od gains or losses oth¥rihan those dealt wth In stai8monl of FinaniialAeifvkn"os. The noies on PBgès 6-9 fom) part ofthea• accounts.
Page 6 SPINAL TRACK REGISTERED CHARrrY NO. 1173285 REGISTERED COMPANY NO. 10514904 Notss ¢0 the Acc¢unl8 for th• r end 31 Decgmber 2021 1 AccouimNG POLICIES The Spinal Track Charitable Trust 1$ a private company limitèd by guarantee incorporated i) England and Wales, Company numbèr 10514904 and Charity Commission number 1173285. The re9islered address ts Thomas Eggar House, Friary Lane. Chichester, West Sussex, P019 1 UF. 1.1 ACCOUNTING CONVENTION These accounts have been prepared in accordance wlth Ihe charity'$ Memorandum & Articles of AsseLiats'on, the Companles Act 2006 °Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their aoUnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"18s amended for accounting period5 commencing from 1 January 20191. The charity is a Public Benefrt Entity as defined by FRS 102. The Charity has taken advantsge of the provisions in the SORP for charthes apptying FRS 102 not to prepaTe a Statement of Cash Fbws. The accounts are prepargd in sterfing, which 1$ the functional currency of the charlty. The pmcipal accounting policies adopted are sel out below. 1.2 GOING CONCERN At the time ol approving the a¢eounls. the trustees have reasonable expectation that the charty has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustses. conts.nue to adopt the going concem basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unrestricted funds are availabk for use al the discretion of the trustees in furtherance of their charitablè obj-ectives unless the funds have l)een designated for other purposes. 1A INCOMING RESOURCES All inwmiig resources are included on the Statement of Financial Aciivilies when the charity is legally entillgd lo the income, the amount can be quantified with reasonable accuracy and it is probable that income will be received. 1.5 CHARITABLE ACTNmE8 Expendilurè on charitable actwities consists of the Costs necessary to deliver the d)ar6tw objectNes and are accounted lor on an accruals basis 1.6 TANGIBLE FIXED ASSErs Tangible fixed assets afe initially measured at cost and sUbSequenY measured at cost or valuation, n81 of dèpreciation and any impairment losses. Depreation is provided 8t the following annual Tates in order to write off each asset overits estimsted useful lrfe. M¢)tor vehides- 25% on a reducing balance
Page 7 1.7 GOVERNANCE COSTS Governance costs compnse aff eosts involving the PUbC accountability of the charity and its compliance WIM regulation and goDd practice. These costs include wsts related lo statutory audil and legal feès together wth other overhead and support costs. 1A CASH AND CASH EQUIVALENTS Cash and cash equivalents include doposits held at call with b8nks. 1.9 FINANCIAL INSTRUMENTS The charity has elected to appty the provisions of Section 11 "Basic Financlal Instruments. and section 12"Other Financial Instruments Issues. of FRS 102 to all of its financial inslrumenls. Fnancial assets and liabilities are offset, wlth the nel amounts presented in the financial stslements. when there is o legally enforc8abl8 right to sel off the recognised amounts and there is an intention to setde on a net basis c to realise the asset and settle the liability simultaneously. B8lc flnanclal assets Basic financial assets. which includes debtors and cash and bank balanGe$, are initially measured al transaction price including transactn costs and are subsequentty carried at amortised cost using the effective interest method unlèss the arrangement constitutes a financing transo¢tion. where the tran$a¢lion is measurell at th8 present value of the fvlure receipts discounted al a market rate of interest. Financ4al assets classified a$ receivable within one year are not amortised. Impalm)•nt offinancial ajsets Fnancial assets, other than those held al fair value through income and expenditure. are assessed for indicators of Impaimienl al each reporting date. Financial assets are impaired where there is objective evidence that, as a resutt one or morè 8venls that occurred after the initial recogn¢ti'on of the financial asset. th8 estimatsd frJlure cash flows have been affected. 11 an a5sel is Impaired. the impairnienl los¥ is the difference between the carrying amount and the pyesenl value of the estsmated cash flows dis¢ounled al the asset's original pffe¢tive interest rate. The impairment loss is rècognlsed In nel Incne/(eXpenditUreI for the year. If therg 15 a decrease in the impairment loss arising from an event OCLurring after the impairment was recognised, the impaimienl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount WQLsld have been, had the impainnenl previously beerb recognised. The impaimient reversal is recognised in ng1 incomel{expendilurel for the year. Basic financial liabllltl Bas financial liabilitles, inckKiing trade and other payables, are initially reco9nised at transaction price unless the aangement conslilules a financing transaction. where the debt instrument is measured at the present value of the fUre receipts discounted at a market rale of interest. Debt instruments are subsequenly carried at amortised cost, using the effective interest rate method. Tr8de payables a obllqations to pay for goods or seNus that have been aUlled In the ordinary ¢outse of oper*ions from suppliers. Accounts payable are ckssed as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction Pri and subsequently measured at amortised cost using the effective interest method.
Pag• 8 D•r•cognltlon of financial liabllti•s Financial liabililtes are derécognised en the charity's conlraclual obligations expire or are discharged or canGelied. 2. CRrricAL ACCOUNTING ESTIMATES AND JUDGEMEMrs In the gpplieation of the chanty's aceounting policies, the trustees are required lo make judgements, ests'mates and assumptions about the carying amount of os$ets and liabilities that are not Teadity apparent from other Sources. The estimates and associated assumpb.ons are based on historical experien and other factors that are considered to be relevant. Actual resuhs may differ from these estimates. The estimates and undedylng assumptions are reviewed on an ongtsing basis. Re8[On5 to accounting estimates are recognised in the period in which the estimate is revi$Èd where the revision affects only that period, or in the period of the revision allects only thal period, or in the perlod of the revision and future periods re the revision affects both current and future perlods.
Page 9 SWNAL TRACK REGISTERED CHARTfY NO.1173286 REGISTERED COMPANY NO. 10614904 Not•5 to th Accounts for the r•nded 31 D¢¢embor 2021 Year ended Yearended 31.12.2020 3 DONATIONS AND LEGACIES Donallons and grfls 88.045 81.22 Year •nd•d Year ended 4 TJIGIBLE FIXED ASSETS ¢03T At 1 JafiU 2021 Add0$ As at 31 DerI)er 2021 57,885 49.385 8,500 57,88S DEPRE¢1 At 1 January 2021 Charge lor year As at 31 Ccftlw 2021 31.$59 6,582 38,141 72,783 8,776 31,6S9 NET BOOK VALUE At 31 Decernber 2021 19,745 26.326 At 31 Deetffbel 2020 28.326 26.602 6 DEBTORS: AMOUMTS FALLIIG DUE wmiiN ONE YEAR Year end•d Y•ar•nd•d 31.12.2020 Prépsymentg 1,949 2.450 $ CREDifoRS.. AMOUNTS FALLING DUE wrrHIN ONE YEAR Yr •Thled Y•or•nded 12 1.200 7 SUPPORT AND GOVERNANCE COSTS ArLountanl fe8 Audil lee Company Secretarial In8ur8nce Poslage Advertiwg costs Websrte c08ts Gifts to $ry>or& Bank ¢harges 1881 1200 3.173 3,976 112 1,918 301 476 67 301 78 Basis of 1)catIon.. All orthe governantx and $upport costs are allocated to the charilabk actlv6b&s lotaling £4,753 in 20211£7,962 In 20201
Page 10 PINAL TRAC REGISTEREO CHARITY NO.11732 REGISTERED COMPA 10514904 nd 8 IIOVEMEpif IN FUNDS Net movemont Al 1.12.202 Unmtrlcted fund General 174,560 63.8S8 238.418 TOTAL FUNDS Net rTrJve1rTrt In lunds. included in the ¥bove are as fc41ow8: IncDmlnB rewur Resource8 0MeTht Unrestricted funds General bJnd 88,045 124,1881 63.858 TOTAL FUNDS Comparab"¥t rnt movement in funds. it)dudgd in thg abovè are as fdltr•ffj.' Incoming resources Resources x Mtsvement in funds Unre8trlcted lun Gerra1 fijnd 81,226 133,3351 47,891 TOTAL FUNDS A Currenl ygar 12 rncnlh8 and prior year 12 monlhs combined posltlon is as follryws.. N•t ov•mont At At 1.1.2 Unmtri¢ted fund• Cen8ral fund 126,6S9 111.748 238,417 TOTAL FUNOS Net maverrnt in funds. included in the above are as fo11ows'. A current year 12 ffltsnths prior year 12 munth$ ¢¢mbined [rMent in fwd$, inclLvJed in above 8re as fellows.. In¢omir#J re$ou ReS0rLS Movement in funds Lknr•th¢ted furrfl• Gon&ral fvn¢l 169,271 157.5241 111.748 TOTAL FUNDS 189.271 157,524 111.748 RELATED PARTY DISCLOSURES There were no rdd party tmnsactiens for year $Thled 31 D8cmber 2021 12020'.nill 10 EMPLOYEES There no empk)yegs thJring the yèAr12020'.nlll 11 TRANSACTION8 WITH TRUSTEES Thor•rg no payments for mUnraon or expens85 to trustee$ during the year1202tr.nill
Pag•11 SPINAL TRACK REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 10614904 led Staternent of Fln•nclal Actlvltle8 for the
¥r •nded 31 Do¢•mb•r 2021
Note Y•ar•nd•d 3112.20 Y•arenthd 1 12.2020 IMCOME AND ENDOWMENTS Don•110 and legael•s Donation$ re¢eNed Sponsorship received 33.045 55,000 13,726 67,500 Totsl In¢omlng Mi)ufc•B 88,045 81,226 EXPEMDfruRE Olher Motoring 8xpenBe5 Trad( Day costs Motor Yehic- depelati¢n 5,563 7,291 6,582 4.575 12,022 8.TT8 19,435 25,373 Support ¢o$ts Manay•m¢nt InsurarrE Postage and ststmery Advertk8ir*J Sundrios 3.173 3,976 301 2.220 476 6,784 3.475 Flnanc• Bank ¢hargeB 78 67 Goveman¢e ¢osts AtUntancY and leyal lees Totsl outgolng YeJourc88 1,112 33,336 24.188 Not Income 83.858 47.890
IM irwinmitchell SPINAL TRACK REGISTEREO CHARrtY NO. 1173286 RÉG •n IRefr. OS410330)
SPITriAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10614904 Contents Flnancknl 8tat•m•r 21 Decemb 1Q. Anwal Report ofthè TnJstee$ Indendent ExAmlnel8 Report 8SLqr St1 Staièrnent of Finwual Activib'es 6-11 Notes to Flnandd Ststwngnt8
Page I SPINAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10514904 REPORT OF THE TRUSTEES (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DEceMBER 2021 Th•twst•o$ who are alw directors of the Gharity for the purposts of the Ctynpanie$ Art 20(6. we#ent Ihelr report with the financial slatem&nt$ of the ¢haiity for the year ended 31 December 2021. The a¢¢ounts have been prepared in axordartce the accountirg polityes set out in nole 1 to the accounts and compty with the charitys govÈming dOnt, Ihe Companieg Act 2006 8nd"Accounting and Reporting by Charitles". Statement of RecomrnendEd Prath"ee aPiCab to charities pmpanng their Cour In ac£ordanc wth the Financlal Roporthng Standard appli¢abb in the UK and Rgpubk of IrelaThY IFRS1021. REFERENCE AND ADMINISTRATION DETAILS R•gi$tsred Company numb•r 10514904 IEr8land and Wales) R•gistr¢d Ch*rlty numb8r 1173285 Rtgl•tsred office Th¢rDa6 Egyar Hou$e, Friary Lano Chicheslw, W85t Su$s•x P019 1UF SJWEvans M Simps M5 J Y Hard'ny Imsig 11.6.20211 D Pond (appointed 11.6.20211 Ind•p•nd•nt examlner Claire Norwood BSC FCA ATII Jones Aven$ Pper How, 4 txjkes crt Bognor Road. chiCter W981 Suss8X P019 8FX So¢1t0r• Irwin Mitchel LLP Thom8s Egg¥ hw8e Fary Lane. Chi¢he8ter Wast Sussex P019 1UF B¥nkers HSBC UK STRUCTURE. GOVERNANCE AND MAMAGEMENT Gov•mlng do¢unwnt Spinal Track is oentrolkd by ts goveming drtthnent. 8 deed oftrutst. and con9ffibJteg a limited wpany, lknfted by guarantee, a8 dtrfined by the Companies Act 2006
Page 2 SPINAL TRACK REGISTERED CHARITY NO.1173286 REGISTERED COMPANY NO. 10S14904 REPORT OF THE TRUSTEES IWCLUDING DIRE¢foRS' REpoAfJ FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTS AND ACTrrfrriE$ Obleclives and aims ¢honty'$ objects as 8et Out In the MemoraThJuTn and Artides ofAswciafjon ar.. To promote physitol ar mental health of p¢op18 wilh disabilties whBlher a¢quirJ at birth, in chibJh¢)oJ or in adutt life, ¥thDwould othetwi$e bts exthded by enabling them to enjoy the pleasures ènd b2nefils of laklng part in frK)lor spcfls track events, by the prtiwsion of adapteil and m¢xlffjied vehicles. along$pJe olher peopje vAlh di$abilits8 an(1 their frnd5 and family rnembets. Publlc benefft trustees confimi that thay have refeed to the guidance conlained in thg Charity CommissJne¢$ 9trneral guidanre on wblir benefitthen reviewr¥J the chaws aim5 and objectNes aj in pLqnning ftstwe actmties. The trus18es are 8aknsd that 1he charity n"nu&S to mgelthg pubfic benefft tast Ihrough its obittts.ves and a¢tNktw. AcHIEvEMEfr AND PERFORMANCE Charftabk actlvltles The fiTh8rrial rasutts forthe period are detslled in the St8¢emenl of Finandal DuriNJ the year the Larity has fuffi118d its objectives by providiny track day experien ba at Silverst0 and are run on the tul Gmnd prix r¢U1( FINANCIAL REVIEW Wmh the additional eyperience up and running, our COBIS have incwo88&J. Vve have been in¢yedit4y diligent lo ensure no mOY is wast. bul that Iho 8xp•riences and $8f&ty are 81 the hvJhesl IEveL8. Continuted 5UPPOrt by our cornme1 sponsors mab lhis oktra ralfy experience possibb. We have rEiYNed a d2Kznt arnounl of doantions frcm the put4ic and continuo tty foGu$ ¢rb this tr) cover anyloss from commercial partnerships. polky The Iru5tEe$ gulaY re¥Wt level ol re8erve8 to tUre Ihat they are Èdequate for Ihe wrTent and proposed vel$ of chthtable a¢tsW. The total reserves at the yeareTrJ are £238.41812020-£174.65QI TRUSTEES RE8PONSIBILmES Legislation requirgs the TStee5 to PTEpare financial 8tstemeDts for each financial yearwhich 8how e true and fair view of the state of affairs of the Charity and of the inc4me and expendicture ofthe eharily for that yriod. In preparin9 those financial statements, Truslees Hre required ttt. -setI 8uftabk o¢e•unting policies and then apply Ihem consi51enty,' - make ju($3nts and oStSmate$ that are re8$on*Ae and prudent., -slate whether 8pplicable accountirvj standards and statement$ of re¢OMjed practi have been lolbmw. gubJ"e¢tto any departiwes discoloeed and exphined in the finon¢ial 8to1gmen¢8'. nd - prepa the financ1 statement$ OTr tho going conc8m basis unkns tt 1$ Inapproprtate to W96UN thot Ihe charity will continue to operats. The Trustees are re8pon8ible for keeping proper accounty.ng records whith discb8e reh#ontknle atr8¢Y at any ts.un the ffinancial postion of Ihe Charity and to ensure thht the finana¢lal statements comply with the CharitsBs Acl 2011. They are also re$pon$iWe for safeguarding Ih assets of the Charity and hence for taking rèa80naNe step8 forthe ye¥ents"c41 and deteclion of fraud and other irregularilies 2L Appmved ty orderofthe board oftNstseB on .. ................ ......... . . And $vJn8d on tehalf by.. M Slmpson-Tru$
Pa4 NAL TRAC REGISTERED CHARITY NO.11n28S REGISTERED CO Y NO. 10S14904 lnco She•t as •t 31 r 2D21 A¥ at 31.112021 at 31.122020 Fixed A•••ts Tarrtjibb Assets 19.74S 26,328 CUff•ntfjI4 Cash at bar 219,125 1.949 146,984 2,450 abilitie5 lalling ¥thIn 12 month6 Creditovs 12.4001 11,2001 218.674 148,234 Total Ags•ts l•# Curn•nt UabSllU•4 238,418 174,&80 238,418 174,560 Fund Balanee •• at 31.12.2021 ijnrestricted 238.418 174,560 The d)arft8ble cornpany is entitled to exerwn from gutht uThJer Secoon 477 ofth? Compank8 Acl 2006 lor the year 31 December 2021. The tYmber3 have not required the ¢N8TiiaNe eoryiany to obtsln 8n of firClaI stat•nnts S)r Ihe year ended 31 Dgwnbw 2021 In accordan th section 476 of th• C•mpwies Act 2006. Thetnntees ackntrwled9¢ thr reponsibilities for." 8n6uring that Ihe ¢8ritabl8 company keeps a¢unI1ng records that comptywith Se¢tM)n 386 and 387 ofthe Cornpanies Act 20[ ond preparing finangIStatrentS which give ? tr gnd fair view of the $t8le of affair5 of th• ¢haritable company as al the end of each finanrial yaf and of its sulUS or deficit for each financial year in accordance th ltr vequimient$ of Sections 394 and 395 and which otherwge cornpty with the quirents ofth6 Cornpanies A¢t 2006 ting to financkql statvments. $0 far as 8pplicable to th• ¢hantab company. {bl These financial $tstements have been prepared in aCrdae ¥th the specigl pro¥i$ion$ ofpart 15 of the Corryan 2Q06 relaling to $rnall th8Tttabk cornpari•s. The fmanrthl statements were ty thè bo¥d Ofttee¥ w...................... .... ..anJ $ign8d OTh their behawby M Sryson- Twustee Th? on pa9e$ fy9 I psrt ofthe8• a¢courl*
P4p3 IfrJDEPÉNDEiif EXAMINER'S REPORT TO TRUSTEE8 OF SPWiAL TRACK I reputl to the thority InJslee$ on my examimtitin olthe 8¢cfjunis ofthe Cornpany for the yearendgd 31 08mber 2021 Re$pon$lblUtlg8 and basls of r•port As the charivs tTU5tee$ of the corryny laThJ also it8 fliwtors for Ihe purpo8•b of e<)mpany law) you 8r8 reSpsibl9 for th8 preparalion of the accounts in accordance ith Ihe requirement of the Compani•5 Act 2006 (e 2006A¢t l. Hn9 8ath'sfied myseNthat t ac&)unts of the ¢1panY we npt roquir•d to to audite(l und8r Part 16 of th$ 20Ct8 A¢t and ar¢ eIvj for ind8pèndont ¢xamination. I report in respfjct of my exominalion of the TwsV5 ac£ount$ ¢arried oul under secltyjn 145 of the Charitie5 Act 2011 Ilhe 2011 Acri. In carrying oui my examninatson I have folknved Dire¢tion$ gNen by the Charity Commission der 8ecthon 14515llbl of the 2011 Ael. Indepondont Examinerf¥ Sttem•nt I ¥• eompht•d my examin8tiDn. I confirm that no maten"o1 matter8 have come to my altenb.on in connection wth t exarninatn giving MÈ eause to belwo that in any rnaterial resFo¢t'. attrxJnlin9 records were rh)t kept in re8rd of the Company as wuired by 9odion 386 ofthe 2006 Ad,. or the ac£ounts do not aecord wlth ttrwe records, vr th8 arxounts not compty with Ihe aA+Unting requirement5 conc19 olsKtion 396 olthe 20C6ALt other than any Nuirement that the accourts 9Ne a and lairvitw whi¢h18 llot a matter 8O¢red Ès part oran Indeent examination or the attounts have not teen prep8red in #ceordawth the meth>Y$ dnd prlThrApkn of the Staternent of RecommeThJed Pr#cti( for accounb'ng and rtportiw by charibes preparing their acGDunts in acwdarKa with the FinaneAal Reporb"ng Standwd apF4ic4blÈ in thè UK and Ir¢tsnd IFRS1021 I have no concrr% and have Gome a¢ro$$ no other rnatters In conngdon with the examniation to whi¢h ottention 8houkl b• dta4w in Ihis report In order lo enabl a proper understaTrJir¥J Oft at¢J)unls to be reached. Claire Nohwmod Bsc FCA ATII Ch•rt•red Accountant Jones Aver Limited 'F¢r Hou 4 Dukes Court Bognor Road Chichesler West Sus8ex P019 8FX 2810912022
Pag• 5 SPINAL TRACK RÉGISTEREO CHARtrY NO.1173286 REGISTERED COMPANY NO. 10514904 stat•rntnt of Fin&ntl Activitie¥ for the Ir ended 31 December 2 n¢ludln Income and ex ndlture Atcount G•n•rnl Unre8tr1Ct Fun Year•nd•d 1 12 2021 Year onded and Endtrme C%)rwtiM$ and Legag98 88,045 81,228 Total In¢om• 88.045 81,228 ExpEndilm on: Charitst4e Actiwti•s 11 24,188 33,335 Total Re¥ourco¥ Exp•nd 24,188 33,335 Not intomÉfor the yearlN•t movement in Ind¥ 63.858 47,891 Fund ba1)Th bmught forward 31.12.2020 174,$60 126,669 Fund balance caFrlBd frywrd 31.12.2021 238,418 £ 174,560 None of the Charity8 .¥iey were 8cquSred or discon*"fiu8d duriry tIMs fis¢al period. The Chwily hag no recognk%od gains or losses oth¥rihan those dealt wth In stai8monl of FinaniialAeifvkn"os. The noies on PBgès 6-9 fom) part ofthea• accounts.
Page 6 SPINAL TRACK REGISTERED CHARrrY NO. 1173285 REGISTERED COMPANY NO. 10514904 Notss ¢0 the Acc¢unl8 for th• r end 31 Decgmber 2021 1 AccouimNG POLICIES The Spinal Track Charitable Trust 1$ a private company limitèd by guarantee incorporated i) England and Wales, Company numbèr 10514904 and Charity Commission number 1173285. The re9islered address ts Thomas Eggar House, Friary Lane. Chichester, West Sussex, P019 1 UF. 1.1 ACCOUNTING CONVENTION These accounts have been prepared in accordance wlth Ihe charity'$ Memorandum & Articles of AsseLiats'on, the Companles Act 2006 °Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their aoUnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"18s amended for accounting period5 commencing from 1 January 20191. The charity is a Public Benefrt Entity as defined by FRS 102. The Charity has taken advantsge of the provisions in the SORP for charthes apptying FRS 102 not to prepaTe a Statement of Cash Fbws. The accounts are prepargd in sterfing, which 1$ the functional currency of the charlty. The pmcipal accounting policies adopted are sel out below. 1.2 GOING CONCERN At the time ol approving the a¢eounls. the trustees have reasonable expectation that the charty has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustses. conts.nue to adopt the going concem basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unrestricted funds are availabk for use al the discretion of the trustees in furtherance of their charitablè obj-ectives unless the funds have l)een designated for other purposes. 1A INCOMING RESOURCES All inwmiig resources are included on the Statement of Financial Aciivilies when the charity is legally entillgd lo the income, the amount can be quantified with reasonable accuracy and it is probable that income will be received. 1.5 CHARITABLE ACTNmE8 Expendilurè on charitable actwities consists of the Costs necessary to deliver the d)ar6tw objectNes and are accounted lor on an accruals basis 1.6 TANGIBLE FIXED ASSErs Tangible fixed assets afe initially measured at cost and sUbSequenY measured at cost or valuation, n81 of dèpreciation and any impairment losses. Depreation is provided 8t the following annual Tates in order to write off each asset overits estimsted useful lrfe. M¢)tor vehides- 25% on a reducing balance
Page 7 1.7 GOVERNANCE COSTS Governance costs compnse aff eosts involving the PUbC accountability of the charity and its compliance WIM regulation and goDd practice. These costs include wsts related lo statutory audil and legal feès together wth other overhead and support costs. 1A CASH AND CASH EQUIVALENTS Cash and cash equivalents include doposits held at call with b8nks. 1.9 FINANCIAL INSTRUMENTS The charity has elected to appty the provisions of Section 11 "Basic Financlal Instruments. and section 12"Other Financial Instruments Issues. of FRS 102 to all of its financial inslrumenls. Fnancial assets and liabilities are offset, wlth the nel amounts presented in the financial stslements. when there is o legally enforc8abl8 right to sel off the recognised amounts and there is an intention to setde on a net basis c to realise the asset and settle the liability simultaneously. B8lc flnanclal assets Basic financial assets. which includes debtors and cash and bank balanGe$, are initially measured al transaction price including transactn costs and are subsequentty carried at amortised cost using the effective interest method unlèss the arrangement constitutes a financing transo¢tion. where the tran$a¢lion is measurell at th8 present value of the fvlure receipts discounted al a market rate of interest. Financ4al assets classified a$ receivable within one year are not amortised. Impalm)•nt offinancial ajsets Fnancial assets, other than those held al fair value through income and expenditure. are assessed for indicators of Impaimienl al each reporting date. Financial assets are impaired where there is objective evidence that, as a resutt one or morè 8venls that occurred after the initial recogn¢ti'on of the financial asset. th8 estimatsd frJlure cash flows have been affected. 11 an a5sel is Impaired. the impairnienl los¥ is the difference between the carrying amount and the pyesenl value of the estsmated cash flows dis¢ounled al the asset's original pffe¢tive interest rate. The impairment loss is rècognlsed In nel Incne/(eXpenditUreI for the year. If therg 15 a decrease in the impairment loss arising from an event OCLurring after the impairment was recognised, the impaimienl is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount WQLsld have been, had the impainnenl previously beerb recognised. The impaimient reversal is recognised in ng1 incomel{expendilurel for the year. Basic financial liabllltl Bas financial liabilitles, inckKiing trade and other payables, are initially reco9nised at transaction price unless the aangement conslilules a financing transaction. where the debt instrument is measured at the present value of the fUre receipts discounted at a market rale of interest. Debt instruments are subsequenly carried at amortised cost, using the effective interest rate method. Tr8de payables a obllqations to pay for goods or seNus that have been aUlled In the ordinary ¢outse of oper*ions from suppliers. Accounts payable are ckssed as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction Pri and subsequently measured at amortised cost using the effective interest method.
Pag• 8 D•r•cognltlon of financial liabllti•s Financial liabililtes are derécognised en the charity's conlraclual obligations expire or are discharged or canGelied. 2. CRrricAL ACCOUNTING ESTIMATES AND JUDGEMEMrs In the gpplieation of the chanty's aceounting policies, the trustees are required lo make judgements, ests'mates and assumptions about the carying amount of os$ets and liabilities that are not Teadity apparent from other Sources. The estimates and associated assumpb.ons are based on historical experien and other factors that are considered to be relevant. Actual resuhs may differ from these estimates. The estimates and undedylng assumptions are reviewed on an ongtsing basis. Re8[On5 to accounting estimates are recognised in the period in which the estimate is revi$Èd where the revision affects only that period, or in the period of the revision allects only thal period, or in the perlod of the revision and future periods re the revision affects both current and future perlods.
Page 9 SWNAL TRACK REGISTERED CHARTfY NO.1173286 REGISTERED COMPANY NO. 10614904 Not•5 to th Accounts for the r•nded 31 D¢¢embor 2021 Year ended Yearended 31.12.2020 3 DONATIONS AND LEGACIES Donallons and grfls 88.045 81.22 Year •nd•d Year ended 4 TJIGIBLE FIXED ASSETS ¢03T At 1 JafiU 2021 Add0$ As at 31 DerI)er 2021 57,885 49.385 8,500 57,88S DEPRE¢1 At 1 January 2021 Charge lor year As at 31 Ccftlw 2021 31.$59 6,582 38,141 72,783 8,776 31,6S9 NET BOOK VALUE At 31 Decernber 2021 19,745 26.326 At 31 Deetffbel 2020 28.326 26.602 6 DEBTORS: AMOUMTS FALLIIG DUE wmiiN ONE YEAR Year end•d Y•ar•nd•d 31.12.2020 Prépsymentg 1,949 2.450 $ CREDifoRS.. AMOUNTS FALLING DUE wrrHIN ONE YEAR Yr •Thled Y•or•nded 12 1.200 7 SUPPORT AND GOVERNANCE COSTS ArLountanl fe8 Audil lee Company Secretarial In8ur8nce Poslage Advertiwg costs Websrte c08ts Gifts to $ry>or& Bank ¢harges 1881 1200 3.173 3,976 112 1,918 301 476 67 301 78 Basis of 1)catIon.. All orthe governantx and $upport costs are allocated to the charilabk actlv6b&s lotaling £4,753 in 20211£7,962 In 20201
Page 10 PINAL TRAC REGISTEREO CHARITY NO.11732 REGISTERED COMPA 10514904 nd 8 IIOVEMEpif IN FUNDS Net movemont Al 1.12.202 Unmtrlcted fund General 174,560 63.8S8 238.418 TOTAL FUNDS Net rTrJve1rTrt In lunds. included in the ¥bove are as fc41ow8: IncDmlnB rewur Resource8 0MeTht Unrestricted funds General bJnd 88,045 124,1881 63.858 TOTAL FUNDS Comparab"¥t rnt movement in funds. it)dudgd in thg abovè are as fdltr•ffj.' Incoming resources Resources x Mtsvement in funds Unre8trlcted lun Gerra1 fijnd 81,226 133,3351 47,891 TOTAL FUNDS A Currenl ygar 12 rncnlh8 and prior year 12 monlhs combined posltlon is as follryws.. N•t ov•mont At At 1.1.2 Unmtri¢ted fund• Cen8ral fund 126,6S9 111.748 238,417 TOTAL FUNOS Net maverrnt in funds. included in the above are as fo11ows'. A current year 12 ffltsnths prior year 12 munth$ ¢¢mbined [rMent in fwd$, inclLvJed in above 8re as fellows.. In¢omir#J re$ou ReS0rLS Movement in funds Lknr•th¢ted furrfl• Gon&ral fvn¢l 169,271 157.5241 111.748 TOTAL FUNDS 189.271 157,524 111.748 RELATED PARTY DISCLOSURES There were no rdd party tmnsactiens for year $Thled 31 D8cmber 2021 12020'.nill 10 EMPLOYEES There no empk)yegs thJring the yèAr12020'.nlll 11 TRANSACTION8 WITH TRUSTEES Thor•rg no payments for mUnraon or expens85 to trustee$ during the year1202tr.nill
Pag•11 SPINAL TRACK REGISTERED CHARITY NO.1173285 REGISTERED COMPANY NO. 10614904 led Staternent of Fln•nclal Actlvltle8 for the
¥r •nded 31 Do¢•mb•r 2021
Note Y•ar•nd•d 3112.20 Y•arenthd 1 12.2020 IMCOME AND ENDOWMENTS Don•110 and legael•s Donation$ re¢eNed Sponsorship received 33.045 55,000 13,726 67,500 Totsl In¢omlng Mi)ufc•B 88,045 81,226 EXPEMDfruRE Olher Motoring 8xpenBe5 Trad( Day costs Motor Yehic- depelati¢n 5,563 7,291 6,582 4.575 12,022 8.TT8 19,435 25,373 Support ¢o$ts Manay•m¢nt InsurarrE Postage and ststmery Advertk8ir*J Sundrios 3.173 3,976 301 2.220 476 6,784 3.475 Flnanc• Bank ¢hargeB 78 67 Goveman¢e ¢osts AtUntancY and leyal lees Totsl outgolng YeJourc88 1,112 33,336 24.188 Not Income 83.858 47.890