2024-04-05-accounts

REGIsfrRED CHARITY NUMIIER: 1187386 REPORTOF THE TRUSTEES AND UNAUDITED FINANCIAL sfATEMENTS roR THE YEAR ENDED 5 APRIL 2024 FOR SCOTh MORCAN FOUNDATION Lives¢y Spottiswood Ltd Cbart¢r¢d AtLount8nts 17 George SITeei SrHeiens Merseyside WAIO IDB

sco￿ IWIORGAN FOUNDATJON CONTEwfs OF THE FINANCIAL sfATEMEIYTS roA THI YEAR ENDID 5 APRIL 2024 Page Rtpoii of Ihe Trustees IDdepeDdeiit Examint05 Rtport 8iitemtnl of FinA Trcial A¢liYilies BalAnc¢ Sheet Notei th tht Fina￿￿1&1 Statements 6 to 9 D¢taSltd StAtem¢nt olFiMRneial Aeihitie4

SCOTT hfORGAN FOUNDATION REI PORT OF THI TRUSTIES ron THE YCAR INDCD 5 APRIL 21J24 The Itustees present thBir rewn iyith the fJnanr&HI slHternents of the cbarity for the year end¢d 5 April 2024. The iIustees have adopted the provisions of A¢toiinting llnd Reporting by ChBiities.' Stalem¢nt of R¢¢ommend¢d Practice Bpplicable ro chariiics prep&ring their accoun15 in ￿COrdanCe ivith the Financial Reporting Standard ppli¢abl¢ ii) Ilie UK and R¢publi¢ of Irland IFRS 1021 {effective l January 20I91. OIIJCCTIVES AND AcfIviTILS Objectives Aims The thurity's aims and ubieclive5 Bre the adYancEmeTht ofscienc¢. licghh Dnd editcslion by carrying out, proniolin8 8nd pttblishin8 reseBtch into the ethic81 use of grtifi¢i?l intelligenc4 virtuo1 irality, enhon¢¢d reality, Tobolics and other high technology systems to ugnient the capAbilitie5 wd w¢llb¢ing ofthose restricted by ag¢. ill-h¢aliK disability, orolherphysical orm¢iilal di5adYanta8¢. Publ¢c benefit Th¢ Trusttes ¢ortfimi Ih¢y have rt8ard for th¢ Public Benefit 8tsidan¢e issued by the Charity CoJzJ]ni55itsn as tbe ChaTities A¢1 2011 requires Charity 10 demonsThte the Public B¢rfLI of our aims 4tJdobje¢iives. AcHIEvE￿￿T AND PERFORMANCE This year. The Seolt-Mor8an Foundation has ma¢k si8nifi¢ani strides itt advancin8 a551shve frthnDlogle5 Ih&t emPDiver individU￿S th severt di58bilides. prtrticularly those livittg ivith ALSlhfjND. wFree Professional Voicu for P¢opl¢ with Ais In partriship Ivilh ElevenLabs, Ive laiinched a global initiative to provid¢ individuJls with ALS ¢¢t5s w fre4 profes8ional-quality voice cbning. Thi5 alioiY8 wers to pr¢5¢rye their unique vocal 1demtirl￿, enoblsDg naTrwal communicaiion even as speech k¢omes imp4iTed. klyptr-Reallsti¢ AvAtAr$ for Ptnottml fi xprtssio Workin8 Ivlth D-ID. Ive inlroducd hypcr-rtalis1i¢ digital avatar5 rapable of conveying nuanced facial expr¢ssitsn5 And etDOtion5. Tbese aYat3 help users maintain a visulll presell￿ &nd stteDgthen eJnDliollal COnDCCtion in £0]n￿￿TrICation. 3upwtting th¢ indcprndrnrc and dignity. Inttgrated AAC Soluttrtrns with ￿￿0¥¢ Our de¢p2ning collatorntion with Lenovo kd to the debui ora ¢oinpreheDgiV¢ AI.pOI￿red comJ)uni¢aiion platfonn, shoiv¢ased ai LeDOVO Tech World '24. 1b¢ 501uiioD integrates personalis¢d voiee r¢pli¢g¥ (via El¢venLabsl, realisiic avaiors (via D-ID). ey¢-irn¢k¢rJ8 Ivi8 lrisbond), and pndidiv¢ Al kn dtliv¢r i seani1¢54 intuitive romTnUnT¢#lioii cxpEri¢ncc for pEoplc with profound physic￿ dis&biiitie5. We gre also Ivo￿ing ¢los¢ly with L¢novo ott the development of a next-Een¢ration, fr¢ely avatlable AAC (Augmentaiive and Alt¢rnative Comniuni¢ation} solution. Aim is lo provide an 4cctwJble and customisable plaifonn th&t SUPFrf>rts users iyith eomplex communicaiion needs ivorldivide. Th¢s¢ efforts fornl p•rl of our 08OU)8 mission lo m&k¢ ¢utting¢d8¢ i¢¢hnoiogies more sttclusiv4 affordable tnd a¢c<5sibk. We ¢orttinye to Collab)￿ with key portners 8lobAlly to develop artd open-wuree innovative tools. helping redefine whrtt it meaDS to be disabl￿ in the 21st century. FINANCIAL RC4VIEW FIn￿¢S$] posltlfyn At 5 April 2024, 111¢ ¢h&rity¥ reserves i¥er¢ £81.586 ￿0￿ £112,276}. The redu¢rion in reserves Ixing eAtI￿lY due to thu expEndiliirt of t grant IEceiv¢d in IhB prtVlOUs year for Ilie deYElopmenl of assi$iive ie¢hnology that had b2eD enlirely spent by the ye￿¢Thd. UJJre511i¢ted funds at Iheyearertd a￿our￿ed ts>£81.586 Q023- £41.8161. Pa8e I

SCOTh MORCAN FOUNDATION REPORT OF THE TRUSTCCS FOR THE YEAR ENDED 5 APRIL 2024 FINANCIAL REVIEW Rt$¢rYe$ policy Tlje S¢ott-Morgan Foundation is redefjniiig liumaii ￿ten11a1 dirough i¢chnology. W¢ pi¢n¢¢r l)uman-centri4 AI-driven 959istivc soluiions. focllsing on ALSIMND io ¢rea innovations ihal $crv¢ the broadesi specirum of disAbiliiies. Our design for all" approach ensures no one 15 Itft behind. Thmiigh ¢ollaboJion, Ive dev¢lop inlegraitd. octtssible techJLologies ihAI enipoiY¢r millions to commvni¢afr, ¢reai¢, and r￿llY partiClPte in sociely. By demotralisirt8 cuNin8-td8e innovation, Ive cknlknge perceptlODS of disability and f05terAn inGlusive futuJe wliere everyone. ￿gardlesS of physi¢èl limiiaiions, a¢iiYely sh8pes our shaied ivorid. As Ivilh uny oihEr smllll cknrilies ivhD ate mttinly dep¢nd¢nl on 8ra¥)is for its incotnE. niE Scott-morgan Foundation needs to prote¢1 its rinanciol ]K>silion. Thts reserv¢5 poIi¢y 15 iniend¢d to sci Qui Ihe iRreernent on die level of ils reser¥es requiwj that ivill enswe the time is av&ilable to make ￿(c5s￿ry rhan8¢5 if the ¢h8rity'S reserves Tcdurc. Without the high levels of resour￿ to be able 10 ¢iEaie incomt-generaiing Invesimtnl4 thE triistee8 AgTeed that the ehaYlty'È Ibnds uld be lield 8$ cash ond stay Ivithin day-to-day operating bank account. The reserve5 Are likely to be requircd fDr projects dlor indivldll￿ 5UPIX>rt reqiies15 teceived by the Charity whi¢li niean5 a siviftwonse be necessary. COnsider￿g rhe Size of the OTg&Nis#tion a￿d its key a¢iivitles, the itusiees for IhE Stott-Morg8n Found&lion agreed tbat Ihey i¥ish 10 mwniain a minimum level of reserves. equivaknt to 9 months Tllnning costs. This ￿￿Uld give sufficient time to seek Rdditionsj fllnding to supprt the ongoing groi%rth of charity. R￿er¥eS ai 5 April 2024 w¢r¢ E81,586 Equivaknt to approximately 17 nionlhs, Ivnning ¢ost& If th¢ level of reserves falls beloiv 9 months, the trUs￿S will mske a joint decision 35 lo IK)iY Jnuch ofthese reserves can be earM￿ked for futiite proposals and how much should remain availabk to 511PPOrt the charity'5 costs. STRUCTURE, GOVERNANCE AND MANAGEP*lEirr Governirtg The charity 15 conirolled by its governing documeDL g deed of trustand CODslitules 8n uniucorp)raied tharity. InduetioTh #Ld traiLln8 of ntw trustees All tru5tecs rcLrived appTOPTiate indutiiort and thiningto unders18nd the obJe¢tivts for Ibe Scott-MorEBn Foundation. REFERENCE AND ADMINISTRATIVI D￿A￿Ls Registered ehxiity 1187386 Pvlnclpftl addr¢5S 5 Planlalion W Torqllay TQ2 7SR Trusttts Ms E M D Duran Fcrnandez Ms A F Darby (resigned 15.5.241 Mr P A YoungE (resigned 15.5.241 MrF P Scott-mown Mrhl P Aylett ITe5igneAI 20.11241 MrDAWO%ve MrJ A Overton IresiBj￿l 15.5.241 IndtpethJ¢nl Examlrt¢r Andrew M¢Minnis ACA FCCA Live$By Spottisivood Lid Cbarteyed Ac¢oui)iatits 17 GeDrgc Siteet Si Helens MEf8eyside WAIO IDB Approved by ord¢roFihe l>)ard of trustees on 30 April 2025 signedon its beh&lf by.. MrDA W %Yn- Ttwiee Page 2

INDEPCNDLwf EXAMINER'S RIPORTTO THI TRusfEIS OF scorr I¥JORCAN FOUNDATION Indoptndent ¢x#mlner's report to (he tr¥st¢t$ of S¢otl Mor8n Fowmdatlo report 10 th¢ ¢h8r¢ty irustees on my examination of the 8ccouni$ of Swll Mor84n Foundulion (the TTU$tI for the y¢or endEd 5 April 2024. Rtsp•nsibtlitÉe5 A Trd basis of reDDrt As thE cherity trustee5 of the TNSI you gre responsible for the prewation of the a¢wunts in a¢¢oTdsn¢¢ Ivith the requirements of th? CbErilies A¢¢2011 I'th¢ A¢VI. I report in respect of my examination of the Trust's ￿Qu￿rS carIi¢d out unikr Section 145 of th¢ Act and in ¢ar¥ying out my ex&￿In￿tion I havc folloiv¢d all 8pplic?ble Direction5 given by tlie Charity Commission undw Section 14515Xbl oflh¢ Act. Indep¢ndenl sttemtTrt I liave ¢omple¢ed my examSnaiion. I confirm that no jiialeri￿ rnall¢TS have cojne 10 ￿Y attenliDn in ¢onneGlion willi the examinatio givin8 ]ne cllusE to believe thai in nny maierifyl yesre¢t'. occounling JECOtds Iveie not kept in respe¢1 of the Trust AS requirtd by SecliuD 130 of the Act. or the do not llccord iyiih th05E records., or IbB accounls do Dol cornply %vitb the applieable Jequiremenls eoncerning the forjn Bnd conleDI of accouNts sei out in thE Chsrities (Accounts and ]ieport51 RegUl&tio￿5 2005 oth¢r than 8ny requirement that th¢ gccounis giv¢ & tri￿ Bnd f￿r Vlelv which is not a rnatter¢oiisider¢d ￿ partuf indEpEndenl exllminalion. l knve no concerns and have com¢ acr055 no other malters in connection wilh th¢ ¢x4minaiion to ivhich att¢nlion should bB draivn in thi5 report in ord¢rto enable 2 proper understanding of the accoull15 to bE reached. Andr¢w Mcminn The tN51itule of Chartered Accollntsnls in En81￿￿ and Wale CA FCCA Llvesey Spottislvood Ltd Ch&r*red A¢counianis 17 George Street Si H¢kns MersBy$ide WAIO IDB Dttte.. Pag¢ 3

SCOTT MORGAN FOUNDATION STATEMENT OF FINANCIAL AcfIvTTILS FOR THI YEAR ENDED 5 APRIL 2024 2024 Total funds 2023 Toi41 runds Unrestiicted fulld Restricled funds Note$ INCOM￿ AND ENDOIYMENTS FROM Donations and le8a¢ies 50,124 50.124 51.302 Technology developtnenl 29.318 29.318 OIlKrincome 50 Total 79.442 79.442 162.607 CXP£NDITURC ON Rai5illg ￿ndS 219 289 551 Charitabl¢ 4¢ltvillt5 Tethnolo8y deveIopmeDt 39.383 70,460 109.843 49,780 Total 39,672 70,460 5Q331 NET INCOfvJEY(EXPENDITUREI 39.770 170.4601 130,6901 111276 RECONCILVATIQN OF FUNDS TotBI funds brought fonyard 41.816 70,460 Ill270 TOTAL FUNDS CARIIIED FORWAR 81,586 81,586 112,276 CONTINUING OPERATIONS All incom2 and expBnditute hDs ariscn frolli continuing activities. The llotes fonn parl of these fin8n¢i41 SlEiem¢nl8 Page 4

scorr MORGAN FOUNDATION BALANCK SHEET 5 APRIL 2024 2024 Totsl fullds 2023 Tolal fund$ un￿[$¢1ed fund ReslricteAI funds Notes CURRENT AssErs Cash Al bank 93,575 93,575 129.238 CREDITORS Amoun15 fAlling due within onE year 111.989) 110.9621 NET CURRENT ASSLTS 81,586 81,586 112.276 TOTAL ASSETS IESS CURRENf LIABILITIES 81,586 81.586 112,276 NET ASSETS 81,586 81,586 112.276 io Unrestricted funds Reslri¢trJ fNftds 81.586 70,460 TOTAL FUNDS 81,586 I 12,276 The fjnantilli siiternents *¢re approved by the Board ofT)vstee5 8nd allihorwd for issue OD 30 April 2025 and were $ignEd on i15 behalf by.. MrDA W %ven- Trustee ThE notrs fotm prl ofihese finAnei&l slalements Pagt 5

SCOTT MORGAN FOUNDATION NOTIS TO THE fJNANCJAL ￿ATEmENTs FOR THE YEAR ENDED 5 AVRIL 21124 ACCOUNfINC POLICIFS B9$19 ofpr¢p8ring Ille fioAnelAI 51atemeTr15 The financial sioiemenls of the Charity, Ivhieh ys a public bBnefJt entity under FRS 102. have been prepB￿d in occord4ncB wilh the Choriti¢s SORP (FRS 1021'A¢¢ouniing artd Reporting by Cliarities.. Stsienienlof Recornmended Practice applirabk to cliariiies prepgrsng their accounts Bccordance iyiih ilie Financiol Reportin8 Standard 8ppIic3ble in Ihe UK and Republi¢ of Ireland (FRS 1021 {effe¢iiv¢ l January 20191,, Fin￿el￿1 Reportiiig Slond£rd 102 'TlJe Fingncial Reporting SIAndard pplicablc in th¢ IJK and Republicof lyeland, aiid ib¢ Charities Aci 2011. The finan¢ialstat¢m¢nls have been prepared under the liistoriGul oosr coftvenlion. The ¢barity ineeis the definition ora public benefit entity under FRS102. The flnanci￿ slaren￿￿ts Er¢ PTep#red In Sterling wliich is Ilie fullctionul currtncy of the d￿rity. Ineome All iii¢ome is tecoEnised in the 51aleinenl of FinanGiBI Activilie50nce lh¢ charity lias elltitlcmBnt 10 the It is probable Ih81 the income ivill be received 4Dd the on￿￿nI bB ￿eASU[Ed reliably. Exptijdilllre Liabilities aTe recognised as expendtture a5 soon as there is a le8al or eonstru¢iive obli8#iion comlliitting the chtrity to th&t expemdilure, il is ￿￿babIe 11181 a Iran$fei' of e¢onomic ￿￿tfIts ivill bt rtquittd in settltmenl and ihe omounl of Ihc oblig&lion be mtSSUlEd reliably. ExpEnditure is ac¢ounied for on an ac¢ruals basis And has been Cla￿lfIed under beBdings th8t 28gregate Rll c05t re10ted to Ihe catcgory. WIKrt Eosts cannot b¢ directly Bttribul¢d lo parli¢ular headiiigs th¢y h&v¢ be¢n allo¢&ted lo llclivities OD abasis consisl¢nl iviih thE use ofTe$ouT¢es. Taxatio Thtt ¢h8rity is ¢xempr fmm thx on its dioritsbl¢ act2vitie& FllDd accollmtilkE Unteslricted flind5 can b2 Used in accordaTrrB ivith the ¢h8ritable obje¢tiv¢s al the dis¢rttion ofth¢ trustees. R¢8trict¢d fvnds c4n only be USBd for pArticultsr ￿$tricted pu[pO￿ ivlihln the objects ofiiie Charity. Restrictions gri5e ivh¢n $￿e1r1ed by ilie doDorar ivhen funds are rdised for parlicular re51Ticled Put￿5¢$. FurtkrexplqD41ioTL ofihe ADtU￿ and purpDse of ellch fund is inGluded in the note$ lo the financial stalem¢nl5. Ptnslon ¢osr5 And other p05t-retlremeTrt b¢n¢frf¥ The ¢harity operaits a defirted tonlribulion pension sebeme. Conlribulions pay&ble to thc chHrity's ￿nSIon sthEnie are chuged lo the Stateme￿1 of Fin&rtcial A¢tivilies in the period to ithi¢h ihty rel8te. Gfying ¢ODC¢rn The [r￿1¢¢S ronsidei'thal there are JRotcrial unccrtaintie5 &boutthc charity's ubility ID (Y)ntinue 88 a going ¢on¢ern. DONATIONS AND LEGAcIr 2024 2023 Donalions 50,124 51.302 Pllge 6 ¢ontinued...

SCOTh MORGAN FOUNDATION NOTES TO THE fJNANCIAL STATEfvIENTS. t0ttt1rt￿¢d roR THE YCATI ENDEID 5 APRIL 21J24 INCOME fRo￿I CHARITABLCACTIVITIES 2024 2023 Activity Technology development Grnnls 29,318 RAISING FUNDS R$i$in8 dollxtions l¢gatle¥ 2024 2023 F¥ndrwsingcosts 289 551 CHARITABLE ACTIVITIES COSTS Supwrt CDsts Is note 61 Direct Costs TotAIs Technology development 49.603 60,240 109.843 SUPPORT COSTS Govel￿nn¢¢ COS18 Mana8em¢ni Totals Te¢hntslo8y de￿lOpm￿t 57.338 2.902 60,240 Athivity Manz8¢meni Govefflance costs Basi50f illo¢ation Wholly ¢h8ri¢able Wholly ¢horitAble Goveman¢e includes 8c¢ow)toocy fee$ ID re5pe¢rof th¢ lode￿ndentexgmitt￿tl0tt of£l,700 (2002- £3,900). All txpendltuit Ir* relation to support ¢OSts Iv￿ UtslTStri¢ied. TRUSTEES, REMUNERATION AND BINEFJTS Th¢rc We￿ no tru5t¢cy' K￿ll￿￿tiOn￿r other knefits foi. Iheyejr ¢nd¢d 5 April 2024 I￿rfortheye￿r eDded 5 April 2023. TrI5tees' ezptnse5 The￿ were no tTU5tee4 expBnsespiid for the yE8r¢Dded 5 April 2024 nDr for the yearended 5 April 2023. however. £1,991 (2O23- £Nill %VBS 1rillibli￿ed to two IJust¢t5 in respectof exwidilure ￿ade on Ihe Charity's b¢l]alf. STAFF COSTS 2024 2023 W88es and sAlaries S￿181 serurtty cost5 Oditr pension costs 54,503 lJ35 1.500 38,333 4,767 57J38 44,250 The avcrage monthly numbcr ofeinploy¢es dunno Ih¢y¢or ivas as follo%Ys', 2024 2023 Mana8ement athd &dniinisiraiion No ¢mpioyee$ received emolunitnts In ¢xctss of£fjO,000. Th¢ ¢olaltmployt¢ b¢nefiisof tbe key mBnagementpersonnel were £56.003 (2023.. £39.4831, Page 7 oDtiTrued...

SCOTT MORGAN FOUNDATION NOTLS TO THE FINANCIAL STATEMENTS- ¢ontinu¢d FOR THE YEAR ENDtD 5 APRIL 2024 CREDITORS: AfvIOUNTS FALLTNC DUE IVITHIN ONE YIAR 2024 2023 soci￿ securiry and other taxes OihBr rrediiors Acctual$ and def¢rrnd income 9,089 12,793 269 3,900 2,900 11,989 16,962 Io. MOIIEMENT IN FUNDS Net movement fu￿d5 Al 514124 At614123 Unrestricted fullds fjenerol fllnd 41.816 39,770 81.586 Restrictwj funds EntS¢N UK Limited 70,460 (70,4601 TOTAL FUP4DS 112,276 {30,6901 81.586 Nel movcmeot in fund& included kn the &lx)ve are as follows.. ILcomin8 iesource5 Resour¢¢s expended Mov¢ni¢nt in Funds UThrtstrleted fuThd$ GenEial fund 79.442 (39,6ni 39.770 Rejtricted fuThds EnlSeN UK Litnited 170,4601 170,4601 TO'fAL FUNDS 79,442 130.6901 Compgratives lor movemeDt Ill funds Nel movenient in Funds At 514 At 614122 Uniwtricled fund5 Ge￿181 fvnd 41,816 41,816 Rtstrf¢ted funds EDIServ UK Limited 70,460 70,460 TOTAL fuNDS 112,276 112.276 P8g¢ 8 conliniied.

SCOTh MORGAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- eontlrtuod FOR THE YEARENDID 5 APRIL 2024 io. MOVEMENf IN fuNDS. continlled Compar?live net movement iii fund4 includEd in the &trt)ve ar¢ a5 follows.. IrKoming resoui'ce5 Re50Uit¢8 expend2d Movemeot in fund5 UDrestricted funds General fijnd Jl J52 19,5361 41,816 Rtstj'kted funds Enlsery UK Limited (40.795) 70,460 TOTAL FUNDS 162.607 (5G,331) 112.276 A ¢urr¢DI y¢8r 12 D)onlhs and prior ycar 12 rnonrhs combined tX>5ilion 15 folioiv5.' Net rnovemeDI in fund5 At 514r24 At614122 Unrestrtcted fuTrd5 Ceneial fund 81586 81,586 TOTAL FUNDS 81,516 81.586 A Cu￿n[year 12 months gnd P¥K)r year 12 months WtDbined n¢t rnov¢m¢nt ID fund% in¢luded in thB above ate 8s follow5.' In￿mIng re50UTCCS Resource5 expended ovenient iii fund5 Unrestricted funds General fund 130.794 149.2081 81.586 Re$trlct¢d fwmds B￿￿try UK Lunited TOTAL FUNDS 242.049 1160.4631 81.J86 runds reeeived froni Entserv UK LimitrA &TC toivards ihc dEvelopznent of tcchnolo8y to a58i5t individuals diagllosed nwtorn¢uron¢ dis¢a5& RELATED PARTY DISCLOSURES Tliere iYerE no reloted party Iransa¢iions forih¢y¢ar¢nded 5 April 2024. P88c 9