desjgnability Deslgnablllty Charlty Llmited Annual Report and Financial Statements Year Ended 31 March 2022 Registered Charity Number: 256335 Company Number: 933932 (England & Wales)
Designability Charity Limited Annual Report of the Trustees for the Year Ended 31 March 2022
The Trustees present the Annual Report and audited financial statements for the year ended 31 March 2022.
Reference and Administration Details
Charity Name: Designability Charity Limited Charity Registration Number: 256335 Company Registration Number: 933932 Registered Office: Department D1, Wolfson Centre Royal United Hospital NHS Trust Bath, BA1 3NG Tel: 01225 824103 Email: info@designability.org.uk Website: www.designability.org.uk
Designability Trustees Libby Gawith Appointed 2015 Chair (resigned 2021) Jerry Marwood Appointed 2021 Chair Martin Bloomfield Appointed 201 8 Lynda Bowen Appointed 2020 Paul Fairhurst Appointed 2020 Oliver Foster Appointed 2020 (Finance and Governance Committee Chair) Martin Hunt Appointed 2020 Emma Legg Appointed 2020 Gavin Maggs Appointed 2016 Ben Metcalfe Appointed 2020 Paul Olomolaiye Appointed 2017 (resigned 2022) Christos Vasilakis Appointed 2014 (resigned 2021) Sam Whatley Appointed 2020 Elizabeth White Appointed 2012 (Products and Impact Committee Chair) Mamie Wisker Appointed 2017 (resigned 2021) Catherine Bailey Appointed 2022 Company Secretary Company Secretary: Paul Fairhurst Assistant Secretary: Kathleen Mackey President: Rt Hon. Lord Foster of Bath , Don Foster Chief Executive: Catharine Brown Auditors: Moore, Chartered Accountants and Statutory Auditor, 30 Gay Street, Bath, BA1 2PA Bankers: Barclays Bank UK PLC, 1 Churchill Place, London, E14 5HP
In this report and financial statements Designability Charity Limited (formerly known as The Bath Institute of Medical Engineering) is referred to as ‘Designability’ or the ‘Charity’.
Annual Report of the Trustees The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charitie5'. Statement of RecoTnmended Practice applicable to charities preparin8 their account5 in accordance with the Financial Reporting Standard applicable iri the UK and Republic of Ireland IFRS 1021. Nature of governing document and how the charity is constituted De5ignability is a charitable ctsmpany limited by guarantee, incorporated on 18 June 1968 and regSstered as a charity on 11 july 1968. The Charity was est3blished under a Memorandum of sociation, which establSshed the objects and powers of the charitable company and is governed under its Article5 of Associatlon. Our vlslon A future where every disabled person has the products they want to live the Ilfe they choose. Our mlsslon To create and provSde products that enable d15abled people to Ilve wlth greater Independence. Our strategic oblectlves are centred on 3 clear plan to maxlmise our impact and do the best we can for dlsabled people. We work to enable people to overcome the challenges that they face through the provision of useful product5 that have been desi8ned In collaboratlon with users them5elve5. The number of disibled people In the UK Ss giowlng each year and our product5 are needed more than ever. We contlnue to work towards a future where every disabled person has the products they want to live the life they choose. Havin8 a clear direction In our work ensures our su5tainablllty as an organisatlon and Increases our efficienty and effectiveness. We occupy a much needed space, esther as early entran15 to a market, or in 5c8ments where there Is not sufficient scale for a commerclal operator. Our ¢urrent StrategSc focu5 15 on the followin8 activlty: l. Develop our own products and support others to develop thelrs. 2. Help adults and children who are prlmarily physically dlsabled. 3. Provide solutions for disabled people's mobility challenge5 in our new product development. The object5 of the Charity are.. The advancement of m&dlcal education and of engineering research frjr medical purpose5, the di55emination of the knowledge thereby acquired and the relief of those in need (by reason of thelr dlsabllity, ago or infirmity) by the provision of devices and equipment to assist in their medical treatment or improve their quality Df life. The Charity enables disabled people to hove greater choice and independence through user-led design and provlslon of products, involving disabled people throughout the dèsign process and providing innovative product 501utions, Its vision is a future where every disabled person h85 the products they want to live the life they choose.
Ensurlng our work delivers our aims We review our aims, objectives and actlvitles each year. The review look5 at what we have achieved and the ouicomes of our work Sn the previous 12 month5, the success of each key activity and the benefits they have to those groups of people we alm to help. It helps u5 ensure our aims, objectives and activ1tle5 remaln fgcused on our stated purposes. We have referred to the 8uidance contained in the Charity Commission's general guldance on public benefit when reviewing our aims and objectives and In planning our future activities. In particular, the Trustees consider how planned activities will contribute to the alms and oblective5 they have set. Designability publishes an annual Impact Report which sets out the key activities and achlevements of the Charity each year. Plan5 for the future Our key plans for the future Ihclude: Continuin8 to increase the number of children on the Wlzzybug Loan Scheme by making It easier for familie5 to acces5 the scheme, to bring the benefils of early moblllty to as many chbldren as possible,. Launch of our latest and much-demanded Innovatlon. a wheelchair attachable pushchalr, to translorm the lives of dlsabled parent5 and carers,. ExpaNdin8 on our work to tackle the Inaccessibility of the publlc infrastructure for chargin8 an electric vehScle IEVI, delivering the publicatlon of a 'Deslgn Guide, enabllng industry tL) adopt accessible design withln EV charge points and further projects In the area: and Development of our next strateglc Plan, to set the alms arid objectives for the Charity for 2023-26. Or8anisatlon structure and how deci51ons are made Desi8nabillty Is a reglstered charity 8nd company1Smlted by gLJarantee whose work is overseen by a Board of Trustees and supported by their Presldent. The Board of Trustees meets quarterly and is responslble for ensuring that the Charity meet5 our charitable oblettlves and is run according to our Articles of As50clation and Memorandum of Associatlon. The Trustees do nol receive any remuneration for their dutles. A Governance Review was completed during 2021-22 against the Charity Commission's Good Governance Code. The review found no concerns requiring immediate action and 15 informing our ongolng performance and developments in governance. In January 2022, we regSstered Deslgnability Limlted as a separate entlty. The company Ss dormant and share capital is owned by Designability Charity Limited only. Govemance- SubcomTnittees The Board operates two sub-committees, each with a clear purpose and remit. The sub-committee5 are.. Products and Impart Committee This committee of Trustees, wlth Senior Management Team member5 in attendance, meet5 quarterly prior to Board meetings to provide advice and assurance on the activity of the Charlty that creates impact for disabled people, through its provision of products and services. Finance and Governance Commlttee
This committee of Trustees, with Senior Management Team meTnber5 In attendance, meets quarterly prior to 3oard meetings to provide assurance to the Board on the manaKement and utilisation of resources Ilinances, people and premi5e51 plus the 8overnanEe of the Charity. Responsibility for the day to day running of the organi5ation and delivery of activitie5 is delegated to the Chief Executive. A detailed Delegated Authority Matrix is in operation which Is reviewed annually. Safeguarding A de5ign3ted member of the Board of Trustee5 ha5 a key respon51bllily to oversee safeguarding wlthin the Charity and 15 responsible for reviewing the Children's and Adults, Safeguarding policies every two vear5 or when amendments to policies or procedure5 are made. E5tabli5hed processes are in place for flagging and reporting safeguarding concerns or issues. During the year, there were no Instance5 of safeBuardSng Incldents flagged or reported for children or adults. Deslgnablllttys Presldent.. The Right Honourable Lord Don Foster of Bath Our President is elected at Dur AGM for a term of three yeèr5 land may then be re-elected for maximum of nlne years). Our President provldes the Charlty wlth advice and support and promotes our work and Imp0Ct to a wlder audience. Rlsk management All significant activities undertaken are sublect to a risk review as part of the actlvlty assessment and Implementation. Major risks are identified and ranked In terms of their potential Impact, likelihood and the strength of mltlgatlon activity. Major risks, for thls purpose, are those that moy have a significant Effect on: Achievement OF our alms and oblective5,' Meeting the expettalions of our beneflcS8rles or supporters; Financial slabS1ity, including Stability and security of income,. or Operational performance, includlng r15ks to our staff or volunteers. The Trustees review these rlsks on an ongoing basis and satlsfy themselves that adequate systems and procedures are In place to mana8e the risks identified. Where appropriate, risks are covered by insurance. The following framework Is central to ensuring adequate risk a55urance.' Review of risk at an operational level and wlthin all governance commlttees, and development of action plans to control risks identified: Risk identiflcation and assessment is embedded into Staridard Operating Procedure5 (SOPS) and the Quality Managernent framework- A clear structure of delegated authority and control,. Regular internal audit to ensure compliance to agreed risk management processe5,' Mainiainin8 reserves in line with set policies. A5 an ISO 90QI..2015 certrfied organisation, risk-ba5ed thinking Is a key part of our management approach. We regularly review our organisational risk re8iSter and respond to the changing internal and external factors. During 2021-22, our risk management work focused on responding to business continuity risks around systems, proce5se5 and dala as well as recruitment and ways of working
following the lifting of Covid-19 restrictions. We contlnue to monitor the risk around fundraising income and fundraising asks for our new innovation5. Mitigating action plans are In place. As a medical device manufacturer we have contlnued to Invest resources In maintaining our compliance to all applicable medical device regulations, including the UKMDR and EUMDR. Attention has also been given to non-financial risks including.. product liability, facilities and health and safety. These risk5 are managed by havlng robust policie5 and procedures in place. In addition, financial controls are in place to mitigate the risk of financial losses due t¢ theft or fraud. The key rlsk areas are revlewed by the Flnance and Governance Committee half yearly, and with an annual revlew by the Board of Trustees. Detailed Covid-19 scenario planning and risk register was in place throughout the year to mltigate as far as pc>ssible the on-going impact of the pandemic on both the operations of the organisatlon an on financial stability. The key measure that ha5 forrlled the ba515 for Covid-secure practices ha5 been 'Hands, Face, Space,, ensuring that the risk of transmission for both staff 3nd service users has been mltl8ated as much a5 P05slble. The Senlor Leadership Team continue to monltor the situation and respond as necessdry. Flnanclal revlew The Board of Trustees are pleased with the on-8olng flnanclal performance of the Charity thls year. A financial surplus of £140,417 has been achleved In thls year and the underlyin8 resewes posltlon Is strong at £2.060m. Designablllty ha5 continued to carefully control expenditure but thls has Increased from £1.69m In 2020.21 to £2.078m in 2021-22 followin8 careful management of spend In the prior vear and also significant external spend on the accesslble EV charge point project. In¢orne has Increased from ihe prevlous year from £1.93m in 2021-22 10 £2.19m In 2021-22 due to the continued generosity of our donc•rs and supporters, and followlng recelpt of funding from partners and dohors relating to two specific and significant projects.. the refurbishment of our premI5es at the Royal Unlted Hespital in Bath, and the Accesslble EV Charglng project, Flnanclal effect of $18nlfi¢ant events The Finance and Governance Commlttee revlew flnanclal performance on a quarterly basis. The Trustees continue to value the funding partnership to deliver the Wizzybug Loan Scheme over the vears ahead, whlch brlngs welcome security, and understand the on-going need to grow Other sources of income for the longer term. Any factors Ilkely to affect fLtture flnanclal performance The Trustees are confident that any factors whlch mlght affert our future flnanclal perform?nce have been documented in our risk reglster, along with mitigating actions. As with all organisations, global issues of supply chaln, commodily price increases, energy costs and the increased cost of living are significant factors likely to affect future performance of the Charity. For fundralslng, Increased competition from other charities for fund5 remain5 a risk, following a decrease in some income streams which other charities have been reliant on in the past. Measures have been taken where POS51ble to tnitigate against all financial risks and Designability can Continue to operate effectively and achievè our charitable aims. As such the Trustees are confident that Designability retains sufficSent resources to continue for the minimum 12 wnonth period to be considered as a going concern.
Principal funding sour¢es and how they support key objectives Principal funding sources are donations and grants from trusts and foundatlons, alonE wlth other forms of voluntary incorne from a wide range of partners and 5UPPOrter5, followed by income from product Sales and royalties. Our new product development programme focuses on developlng products to SUPPOrt our beneficièries across all age groups and is funded from restricted and unrestricted donated funds, tO8ether wlth income frorn consultancy work and sales and royaltles. Our Wizzybug Loan Scheme dlrectly delivers agaln5t our oblEctlve of facilltatlng access to Early Years Powered Mobility for disabled children younger than five year5 and 15 funded from reslrlcted and unrestricted doriated fund5. A summary of our Sources of income and expenditure for these programmes 15 provided wlthln the Report of the Mana8ernent Team on pa8e 11. Arrangements for settlng the pay of key management personnel The Trustees conslder that the key management personnel are the Chlef Executlve, the Head of Operatlons, the Head of Fundralsing and Communications, Head of Finance and the Head of DesS8n and EngineEring (for the period under revSewl. The pay of senlor staff is revSewed annually by the Chair and Chairs of the Subcornmittees. Any increase In pay Is consldered In accordance with average earnings within comparable orBanlsatlons, cost of livlng Increases and indiviclual performance. when recruitSn8, pay Is set by benchmarklng salarles against a comp?rable role wlihln slmllar slzed third-5ector organisations. For the year ended 31 March 2022, the total employment benefits of key managernent personnel (Sncluding Nl and pension contrlbutlonsl are detailed it) note 11 to the financlal statements. Reserves policy A comprehenslve reserves policy is in place, whlch provldes for the Charlty to retain slx months of averaBe unrestricted operatlng costs In a deslgnated fund In order to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unantlcipated loss In fundlng, or unlnsured losses. This Is based on bud8eted expenditure and has therefore increased from prior year to reflect our increasing activltles. The Trustees sUPPQrt thi5 Increase glven the nC85ed risk to income outlined above. An Innovation Reserve Is held to provide Initial fundin8 for research andlor development of new products by the Charity. Use ol this Reserve is decided by the Board of Trustees. For 2021-22, the Board has decided to increase the Innovation Fund to ensure Designability can deliver high quality innovation and design in the year. This incluLles exp2nditure on our wheelchair attachable pushchair innovation and launch, which will bring opportunities for greater independence to dlsabled parents and carers. The Trustees have decided to maintain the Systems and IT Development fund in order to ensure funding is available to finish thè planned investment for our infrastructure and database projects which started in 2020-21.
The General Reserve consists of the balance of any unrestricted funds that are designated in the Operating Reserve, the Innovation Reserve or the Systems and IT Reserve. The value of the restricted funds has increased as wo have recognised grant income in line with aCCDuntSng regulalions in 2021- 22, but spend relating to specific projects will be incurred in 2022-23 and beyond. The Tru5tee5 reviewed the level of designated fund5 at 31 March 2022 ond confirrn that the Reserves Policy has been met. The balance on designated operating reserve as of 31 March 2022 was £1,043,502 Inote 201. Value as of 31 March 2022 Purpose Restricted funds £638,627 Funds for restricted and other allocated projects.. Wizzybug Loan scheme and Access Fund Accessible Electric Vehicle Chargin8 project Jlefurbishment Reserves Unrestricted reserves General Reserve - Unrestricted Operatlng Re5eNe- Desi nated Innovètion Reserve Desi nated Systems and IT Development Reserve Desi nated £129,374 £1,043,502 Funds set aslde adequate to cover SIK months, runnlng cost5 and refurbishn)ent of Wlzzybugs between loans Designated funds- to SUPPQrt innovation and new product development ro'ects and launch To fund Snvestment In IT Infrastructure and systems £199,000 £50,000 At 31 March 2022, the Charity had free reserves Ivnrestricted reseNes that are not funcllonal flxed assets) of £726.159 which forrn part of the General Reserve ènd the de51gnated Operating ReseNe above12021: £930,051 reslatedl. Investment polity The Trustees manage the Investment portfolio In accordance wlth the Charlty's governlng document. Monles not Immedlately requlred for the objects of the Charlty may be Invested in investments, securities or property as may be thought fit having regard to any consent and In accordance wlth anv relevant laws. During the year, the Board included Trustees with sufficient specialist knowledge and experience of Investments suitable to the present needs of the Charltv. The Charlty hold5 a significant proportion of invested money in managed funds, the most slgnlflcant of which 15 Wlth a large, well established and charity specific fund. The fund offers a mix of diversified and low risk invostment assets. This is in line with the Investment Policy Df the Charity in that no undue ri5k15 tèken In Seeking a hlgher Investment return. No Inve5trwbent5 are held with an individual company. The majority of the invested money is held in a charity specific investment fund, which aim5 to provide long term growth and distributions. The fund aims to beat inflation and is significantly diverslfied In order to mitigate risk. The fund ha5 an ethical investment policy.
The Charity does not invest in individual companies and does not hold any'50cial Investments, where the purpose in making the investment 15 wholly or partly to further the Charity's aims. Methods. policies and procedure5 for recruitment, appointment, induction and training of Trustees The Board has appropriate procedures for the recruitment, appointment, induction and tralthlng of Its Trustees. Trustees have b@en recruited throu8h an open and transparent prgcess involving the placinE of advertisements in appropriate media, or via appointment as outlined In the Artlcle5 of A55ociation. Appointed members in post during the year were.. Ben Metcalfe Christos Vasilakls Paul Olomolaiye Elizabeth white Appointed by the University of Bath Appointed by the University of Bath (resigned 20211 Appointed by the Unlverslty of the West of England Appointed by. the Bath and North East Somerset, Swlndon and Wiltshire Cllnlcal Commissloning Group The Chair, Chhirs of the Subcommittees and the Company Secretary of the Charltvi supported by the chief Executlve, conslder the skills, dlversity, gender balance and lived experlence of disability of the Board prlor to appolnlmenls belnB madE. A comprehensive induction programme is undertaken by all new Trnstees and tralnlng needs are Identified through regular Board reviews. In November 2021, fo11owin8 10 years ol service lextended to ensure contlnulty during the Covld-19 pandemic), the Chalr of Trustees Llbby Gawlth stepped down. We are 8rateful to her for her dedlcated leadership and valued contribution. We welcomed lerry Marwood as the new Chair of Trustees ln November 2021. Structure. Governance and Management Governlng document The Charity 15 controlled by Its governlng document, a deed of trust, and con5titute5 a limited company, limited by guarantee as defined by the Companies Act 2006. Statement of Trustees. responslbilities The Tru5tee5 (who are also the directors of Designability Charity Limited for the purFK)ses of cornpany law) are responsible for preparing the Annual Report of the Trustees and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generallv Accepted Accounting Practice). Company law requires the Trustees to prepare financial staternents for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incorlling sOurceS and application of re50urce5, including the income and expenditure, of the chaTltable company for that period. In prepèring those financial statements, the Trustees are required to:
Select sultabteaccountlng potscies and then •pplythem ¢onslsteDtty' Obsefvethe ThthodS and prlndples In the Charfty SORP; Makeludlements and estlmates that 4Te reasonable and prudenl" Pr¢p?r¢ the finpncial ststements an thÈ golng eonc•rn basls unless It Is InBpproprlate to prnsume that the ¢harftsbts ¢omynywlll cantlnue In buslness. The Trugtses are re5pon51ble for keeplng proper a¢countlng racords whlch dlsclosq wlth reunable accuracy at any tlme the flnanclal poslllon of the charitrble company and ttJ •nabl• them to ansuro thgt the flnanclal statsments wlth the Companles Art 2006. They Irè also responslbla tor safeBuardlnB the assets of the charrtsblè Company and hence for tsklng reasonable steps for the pr•ventlon and dete¢tton of fraud and other Ifre8uI)rltl In $ofar as the Trustses•raaw•re: There Is no refevant audlt InformatlDn ot whlch tha Ch4rftsb companls JudltDrJ are unaware. and TheTru5tees have tsken #ll stepsthattheyou8htto have tsken to mak& themselves llware of any relEv4nt audlt Inforrnllon and to estsbllsh thbt the audltor5 are aware of that Intorm8tlon. The Trusrees •re respoMSble for the malnt•n8nce and Inte8rfty of the ¢ory)orate and flnandal Informatlon Included on ihe charthble companV$ webslte. LeElslatTon In the Un5ted Kln8dom 8overnln¥ the praparatlon and dl$semln•tlon of flnanclal statements rn•y dlffer from le4151atson In otherlurf3dlct]ons. Th• •udStors, Moor•, w511 b• propw•d for r•.•ppolnkn•nt •t th? forthcomlnB Annual Gon•r41 Meetln& Approved by order of the Bo•rd pf Trv3tw on 265eptsmber 2022 and i18nqd on its behallby: lp Falrhunt Tr4rt•e and comNysec1ltrry
Annual Report of the Management Team A. Servlce Provision Early years, powered mobility and the Wizzybug Loan Scheme The Wizzybug Loan Scheme provldes powered wheelchairs, designed and made by the Charity, to young children throughout the UK, free of charge. 2021-22 has been a challenging yearfor the Loan Scheme, due to the on.going impact of the Covld-19 pandemic. 8eyond wlder restrlcllons, we have seen a backlog of therapist appointment5 and increased time for families to receive appointments with their therapist. Despite these challenges, we have continued to grow the Loan Scheme, with 140 new chlldren joining during the year and, in july, we celebrated the milestone of the I,ODO¢h Wizzybug being presented to a dlsabled chlld. 2021 olso saw the IO, anniversary of the Loan Scheme. We have Continued to dramatically reduce the time that families wait for their application to be processed, as well as the time from application to handover, en5urln8 that young Ehlldren enjoy the developmental benefits of Independent mobility è5 early as Possible in their lives. Durlng the year we have worked hard to ellm5nate barrlers to chlldren loinlng the Loan Scheme, Including work to expand our regional delivery of handovers. increasins virtual appolntrnents, and 5treamllned appllcation process. We also contlnued our work on a number of irnprovements and Innovatlons around Wlzzybug product desS8n in lesponse to feedback from our beneflciarles. This Included the continued ro11 out of new and more reliable batlerSes, developlng a new motor solution to increase the drivinE speed and invesli8atin8 Options to expand the length of time a Wlzzybug wlll he suitablefora child. Our ongoSng work to expand the Loan Scherne and number of children we can reach continues to be 5UPPOrted by a wide range of partner5hip5, including an ongolng partnershlp wlth Motabililyl ihe Charitv. Durlng 2021.22, we undertook an extenslve revlew of our clinical sovernance proce55es, bringlng about 3 number of improvements to how we manage our cllnlcal delivery of the Loan Scheme. The review focused on all ?5perts of the Service delivery from initial enquiry and application, through to the end of loan and return of Wlizybug. 8. Products New product development We aim to be a charity known nationally for having a vibrant programme of now and establlshed products created In partnershlp wlth the people they are Intended for, and during this year we hav2 made good progress on new ideas which will enable disabled people to have greater independence. Dvring 2021-22 we have focussed on developing a wheelchair attachable pushthair to enable parents and carers who are manual wheelchair u5er5 to take their babies and young children out independentfy. This has historically been our most popular product enqulry, and our research shows io-
there are over 16,000 disabled parents of children aged 0-3 years In the UK using manual wheelchairs. We engaged with wheelchair users to understand the challenges they face and produced a fully working prototype suitable for user testing In autumn 2021. We recruited B group of wheelchair users with a range of disabilities from across the UK to take part and we received overwhelmingly positive feedback from the user trials, that the product would have a transformational effect on their livès. Towards the end of the year, we progressed towards a launch-ready desSgn. De5ignability 15 working towards launching this product In Sprlng 2023. Product Sales Thou5and5 of people with a wide range of disabilities are helped by our products every year. 5omE of these products are produced in our workshop, and some, designed by us but produced irt partnership with other organlsatSon5. International sales of Wizzybugs are made through partnerships with a small number of carefully selected distributors and we contlnually review our commercial agreement5 to ensure that they deliver impact for our benef iciaries. All receipts from commercial sales are reinvested In the UK, in order to proBres5 the alms and objectives of the Charity. C. Research Research rgmains the flr5t step of every new product development we undertake and forms the foundatlons of our user-cenlred design approach. There has been a cultural shift in the balance of research alongside hew product development at Designability, In favour of prioritislng greatest impact through the provlslon of asslstlve products for people that need and want them. Durlng 2021-22, we contlnued our work to create a new industry standard for accesslble electric vehlcle IEVI char8ln8, worklnB along51de Motability, the Charlty and OZEV the UK government department of the Offlce for Zero Emission Vehlcles. The UK government plans to ban new sales of diesel and petrol vehlcles In 2030, but research shows that around 1.35 mlllSon disabled driver5 will be wholly rellant on the public charging Infrastructure. Currently there are no accesslblllty requirements for EV charge polnts meanlng ihat this technology Is largely ingcces5lble and unusable for disabled drivers. Durlng the year, followinE a huge response to take part In the studyi we en8a8ed with disabled users to detine their accesslbllity requlrement5 in order to Set out the foundation for future accessibilitv standard5 in electric vehicle charging infr3structtJre. We publlshed our findings In July 2021 and in September 2021, moved on to the next phase of the project, with the oblectlve of validating a BSI 18ritish Standards Institutionl standard wlth dlsabled users, involving design, prototyping and user testing of the key feature5. Findings will result in the publication of a 'Deslgn Guide, enabling industry to adopt acce55ible design within charge polnts, thus impacting the national charge point network. The piolect has attracted huge interest from industry leaders and government and ha5 Put Designability at the forefront of this tritlcal change in infra5tru¢ture. Our work has been integral to the output from the BSI and we continue to work on how the Publlcly Available Specification IPAS) can be realised in physlcal desiBns. D. Projects and plans for the future At Designabillty, we have ambitlous plans for the future. We know that our existinE products have potential to help many more disabled people, and our expertise in user engagement and design can unlockfurther impactfor thousands of disabled people and the challenges they face in their daily lives. li-
Expansion of the Wlzzybug Loan Scheme is a key strategic objective, as our analysis indicates there are signif1cantly more disabled children who can benefit from the independent mobility of a Wizzybug and the subsequent developmental improvements It brings. We have an ambitious target to reach the next 1,000 children by 2026, half the tlme it has taken us to grow the Loan Scheme to its current sizè. We wlll do thi5 through further developing our regional delivery of Wizzybug handovers and through partnership5 Wlth other charltles who also work with our beneficiaries, such as Family Fund with whom we partnered in 2021. We will also significantly increase our presence at exhibitions and events to contlnue to promote the benefits of Wizzybug. as well as delivering presentations it events on the benefits of early year5 powered mobillty. We are InvestinE in resources. particularly with the addition of a flxed-term Partnerships and EngaEement P05t, to build rèlationships with conditlon-5peclfic charities and local authorities, to drive additional appllcatlon5 to the Loan scheme. 2021-22 will see the irnplementatlon of a new Customer Relationship Management systÈm that will bring in vital efficiencies within the operations of the Wlzzybug Loan Scheme. This new development will allow us to not only provlde an improved Service to our beneficiaries, but also to ensure that we are able to make data-driven decisions, to maxlmlse operatlonal improvements. We will also aim to increase the Impact of each Wlziybu8, expandlng the range of disabled children who can benefit and Increasing the usage of Wizzybug during each loan th rough reducin8 Ihe welght and upgrading the motors to Increase the speed of Wizzybug. Durlng 2021-22, we authored a'concept DevelDpment Plan, which analysed feedback from the last 10 years of the loan scheme. An implementatlon plan wlll be developed durin8 2022.23, wlth further excltln8 and Impaciful developments to be Smplemented to W122ybuBs. We will continue with our development of a wheelchalr attachable pushchair. We wlll complete our final phase of product development and user testln8 In 2022, and launch a finallsed product to parents In Sprlng 2023. The current phase of the Accesslble EV charging project 15 due to conclude in Autumn 2022 wlth the launch of the BSI standard and our onllne desbgn guidance. PublSc awareness and interest in the project continues to 8row and we will use our expertlse In the accessible EV charging area for on-goln8 partnership and IoDk to lJ5e our expertlse in thi5 critical area. We are about to embark on development of our next three year strategy to 2026. This will include significant programrne of enga8ement with disabled people to understand the gaps In provision of products which help thelr mobility challenges, whlch wlll lead to further innovation and impact in the yèar5 ahead. E. Educatlon Universlty of Bath We led the user.centred design module for third year Mechoni¢al En8ineering IEngDI students at the University of Bath in October 202 1. This year the module focussed on electrlc vehlcles, includin8 charging, vehicle design and the associated built environment. We also worked with Mechanical Engineering 5tudent5 Qn the Group Business Design Prolett. The focu5 was to design more efficient production processes for Wizzybu8 manufacture. 12-
Three Ways School We took part in the 'Change NO programme run by the Leonard Cheshire charity to offer a workplace encounter for disabled students from Three Way5 5ehoo1, Bath. This initiative is for 13-15 vear old5, rnany of whom have no experience of a workplace, to help them prepare for life after thev leave school. During the summer, we welcomed students from Three Way5 School, Bath, to spend time in our workshop and gzin experience of some of the englneerlng processes involved in building Wiziybugs, using specialist equipment and working in a workshop environment. During the year. our programme of support for an EngD student from the Universlty of Bath completed. The student passed his viva In February 2022 wlth a focus on augmented reality and older adults, and was subsoquently shortlisted for the Godfrey and Sue H411 Postgraduate Research Student Prlze 2022. F. Premlses In 2021-22, we undertook a major project, to redesi8n and refurblsh our premlse5 at the Royal United Hospltal in 8ath, Introducln8 dedlcated areas for our cllnlcal work and user engagement. At yeer end. the project was near to completion and we look forward welcomlng our beneflclarles. During the year we conllnued with a temporary lease for a separate slte in 8aih, In order to contlnue to meet users of our 5ervites fate to face away from our main site at the Royal United HospSlal Bath, In a Covld.5ecure mènner and whllst the refurbishment work was underway. The work5hopi which opened in Early 2020, has cantlnued as a key hub of Designabillty's actlvlty this vear, where we contlnue all of our workshop activltles Including building Wizzybugs, engineerin8 innovatlve prototypes for new product5 and providing a collaboratlve and creative workspace for our research projects. H. Regulatory ¢ompllance Medical Devi Regulation IMDRI Wizzybug is classified as a Class I medlcal devlce. In 2021, the new EU Medical Device Regulation came into force, requlrin8 manufarturers to meet much more stringent requlrements in their technical documentation and quality management systems. Designability undertook a significant project to maintain our CE mark and ensure compliance with the new regulatlons. Durlng 2D21-22 we achieved this compliance and were able to slgn the 'Declaration of Conformity,. Quality Management System and1S0 9001.2015 Qu3lity management is embedded into our organisation through extensive usè of our Quality Management System. We continue to be audited by our chosen certification body, BS1 and our ISO 9001.2015 Certification ha5 been maintained. 13.
l. Operations, IT and people During the year we embarked on a major project to Improve the internal efficiency at Designability through improving our systems, processes and ways of worklng. We have completed work on our HR and Finance 5VStems in order to 8enerate efficiencies and improve corrpli8nce, particularly around GDPR, and work on our updated CRM database wlll be Completed In Summer 2022. We moved lo a hybrid working model, where staff work both In our premise5 and remotely. We continue to ensure c105e and collaborative working practices through regularteam days in our offices nd dedicating time for all staff events. We continued to follow government guidelines to ensure our workplaces are Covid secure. In the year, we have continued to focus on our Equality. Dlverslty and Inclusion policie5 and became Level l Disability Confldent employer. We will continue to work towards Level 2. DurinB the year, one of our longest standing employees was announted as one of the flnal four nomlnees for The ThSrd Sector's 'Un5vn8 Hero Award,. March 2022, we were awarded 'Highlv Commended, in the Bath Life Awards 'Charity' calegoryi in re¢ognltion of our contrlbution wlthln the local comrnunity and nationally. J. Summary of our fSnanclal performance The Charity's financlal performance th15 year was stron8 wlth a year-end surplu5 of £140,417. INCOME Donatlons Voluntary income from donatlon5 Increased by 19% thls year to £1,860,63612020-21', £1,562,2641. A5 In prevlous years, the malority of donations received were from Charltable Trust5 and Foundatlons. This included some large donations to fund the refurbishment of our main premise5 and the on-going work for the acce55ible EV charging project. Cost5 against some of this income will be incurred In the next financial year and are hèld In the relevant restricted funds. Comrnunity and events fundraising has started to increase as Covid restrictions have been lifted and the success of speciflc appeals, such as The Big Give. During the year, we received one legacy donation. Designability is registered with the Fundraising Regulator. committed to the Fundraising Promise and all fundraisers artin8 on behalf of DesignabiSity adhere to the Code of Fundraising Practice. We are a150 organlsatlonal members of the Chartered Institute of Fundraising, giving all member5 of staff further access to best practice advice, support and training. Our customer feedback process forms part of our Quality Management System and information on how to make a complaint Is avallable to the public on our website. We have not received anv complaints in relation to fundraising activlty thSs year. 14-
Sales and royalties Product sales and royalties decreased tg £312.89912020-21.' £354.3601 due to delays in orders from Islributors an(1 supply Issues for our royalty partners. EXPENDITURE Total expenditure this year was £2.080.54912020-21'. £1.696.1561, an uplift of 23%. The increase is due to very careful control of spend in the previous year as a result of the uncertainty created by the pandemic, significant third party expenditure as part of our project on accessible EV charging and additional premise5 Costs lo ensure we could continue to meet our beneficiaries during the Royal Vnited Hospital premises refurbishment project and operate in a Covid secure way. Cost of raising funds The cost of raising funds increased to £81.18112020-21: £30,612) for the reporting period, reflecting growth in our Fundralsing Team and actlvitles. The prlor year comparator was lower than u5uoI following restructuring within the Fundraising Team and a reallocatiort of some staff costs to Management. Summary 2021-22 was financially a sound and strong year. We have flnished the year wlth a surplus, reflectlng on-8olng stron8 Cost control against a backdrop of changing operational actlvltle5, as Covid restrl¢tions have been Ilfted and we commenced our project to revlew our systems and processes. We continue to bulld on our successful fundraislng for key projects and thus bringiri8 about increased posltlve impact for disabled people. 15-
Re ort of the Inde Desi nabilit Chari endent Auditors to the Members of Limited Opinion We have audited the financial statements of Designability Charity Limited (the 'charitable company'l for the year ended 31 March 2022 which comprise the Statement of Financial Activitie5, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a Summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunlted Klngdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and falr view of the state of the charltable company's affairs as at 31 March 2022 and of it5 incoming resources and application D* resources, includlng Its income and expenditure, for the year then ended,. have been properly prepared In accordance with United Kingdom Generally Accepted Accountin Practice. and have been prepared in accordance with the requirement5 of the Companie5 Act 2006. Basis for oplnlon We conducted our audit in accordance wlth Internatlonal Standards on Auditing IUKI IISAS IUKII and applicable law. Our sponsibl11t1eS under those standards are further described In the Auditors, respon51bilitles for the audit of the financlal 5tatement5 section of our report. We are independent of the charitable company in accordance with the ethical requlrement5 that are relevant to our audit of the flnancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethlcal respon51bilities in accordance wlth these requirements. We believe that the audit evidence we have obtalned is sufficient and approprlate to provide a basis for our opinion. Concluslon5 relatlng tQ 80Sn8 concern In audltlng the financial statements, we have concluded that the tru5tees' use of the golng concern basis of ac¢ountin8 in the preparation of the financial statements Is approprlate. Based on the work we have performed, we have not Sdentified any material uncertaintles relatlng to events or ¢onditions that, Individually or ¢ollectively, may cast slgnlflcant doubt on the charitable company'5 ability to continue as a going concern for a period of 3t least twÈlve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The trustees are responsible for the other information. The other information compri5e5 the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of a55urance conclusion thereon. In connection with our audit of the financial 5tatement5, our responsibility is to read the other information and, in doinE 50, consider wheiher the other information is materially incon515tent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencie5 Qr apparent material misstatements, we are required to determine whether this gives rise to a materi31 mi55tatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 16
Re ort of the Inde endent Auditor5 to the Members of Desi nabilit Charit Limited Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit= the information given in the Strategic Report and the Report of the Trustees for the financial year for which the financial statements are prepared is consistent wlth the financial statements,. and the Strategic Report and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audlt, we have not identified material misstatements in the Strategic Report and the Report of the Trustees. We have nothin8 to report in respect of the followin8 matter5 where the Companles Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or return5 odequate for our audit have not been received from branches not visited by us; or the financial statement5 are not in agreement with the accountin8 records and return5,' or certain disclosure5 of tru5tees' remuneration Specified by law are not made,. or we have not received all the information and explanations we requlre for our audit,. or the trustee5 were not entitled to take advantage of the small companies exemption from the requirement to prepare a Straleglc Report or In preparing the Report of the Trustees. Responsibilities of trustèes As explained more fully in the Statement of Trvstees, Responsibilities, the trustees (who are also the dlrectors of the charStable company for the purposes of company lawl are responsible for the preparatlon of the financlal statements and for being satlsfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of flnancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statement5, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, dlsclosing, as applicable, matters related to 80inB concern and using the 80in8 concern ba515 of accounting unle55 the trustee5 either intend to liquidate the charitable cumpany or to cease operations, or have no realistic alternative but to do 50. 17
Re ort of the Inde endentAuditorsto the Membersof Desi naljilit Charit Limlted Our responsibllities for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurante about whether the financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that include5 our opinion. Reasonable a55urance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will olways detect a material mlsstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these financial statements. The extent to which our procedures are capable of detectlng Irregularitles, Including fraud is detailed below.. Explanatlon as to what extent the audlt was consldered capable of detectlng Irregularltles, Includlng fraud The oblectlves of our audlt In respect of fraué, are,. to identlfy and assess the rlsks of material misstatement of the financial statement5 due to fraud- to obtain sufficient appropriate audit evldence regarding the assessed risks of materlal misstatement due to fraud, through designing and implementin8 appropriate responses to those assessed rlsks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the companv. Our approach was as follows: We obtained an understanding of the legal and regulatory requirement5 oppllcable to the tompany and con51dered that the most $18niflcant are the Companies Act 2006, UK Financlal Reporting Standards and UK taxation le8islatlon. We obtained an understandlng of how the company complles with these requlrements by discussions with mana8ement and those charged with governance. We assessed the risk of material mlsstatement of the flnanclal statement5, Sncluding the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We InquSred of management and those charged with governance as to any known Instances of non.compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included makin8 enquiries of management and those charged wlth governance and obtaining additional corroborative evidence a5 required. A further description of our responsibllities for the audit of the flnancial statements 15 located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibllities. Thls description forms part of our Report of the Independent Auditors. 18
Re ortof the Inde Desi nabilit Chari endent Auditors to the Members of Limited Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to thèm in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members a5 a body, for our audit work, for this report, o r the opinions w have formed. Slmon Cunnlngham (Senlor Statutory Audltorl for and on behalf of Moore Chartered Accountants and Statulory Auditor 30 Gay Street Bath BAI 2PA Date.. 19
Desi Charit Limited Statement of Financial Activities for the Year Ended 31 March 2022 31.3.22 Total funds 31.3.21 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and le8acies 519,096 1,341,540 1,860,636 1,562,264 Charitable activities Charitable Activities 312,899 312,899 354,360 Other tradin8 activities Investment income 5,171 11,S38 5,171 11,538 593 14,474 Total 848,704 1,341.540 2,190,244 1,931,691 EXPENDITURE ON Ra151ng funds Raising donations and leBacie5 80,836 345 81,181 30,612 80,836 345 81,181 30,612 Charltable activitle5 Charitable Activitie5 576,284 1,110,311 1,686,595 1,499,659 Other 188,840 . 121,933 310,773 165,885 Total 845,960 1,232,589 2,078,549 1,696,156 Net galns on Investments 28,722 28,722 92,771 NET INCOME 31,466 108,951 140,417 328,306 Transfers between funds 20 1147,7931 147,793 Net movement In funds 1116,3271 256,744 140,417 328,306 RECONCILIATION OF FUNDS Total funds brought forward 1,538,203 381,883 1,920,086 1,591,780 TOTAL FUNDS G4RRIED FORWARD 1,421,876 638,627 2,060,503 1,920,086 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. 20
1st 32 Posldo 31 March 2022 31.3.22 31.3.21 FIXED ASSErs T4nBlble assets Investments 13 14 157,840 615.427 180,467 586 705 773.267 767,172 CuftRÉNrAErs stocks Debtors Cash at bank Is 16 168,288 185,354 1,420,226 199,$43 151,570 959.437 1,773,868 1,310,550 CREDiroAs Amountsfalllngdue wlthln oneyear 17 (486,6321 1137,6381 NEraiRRENf ASSErs TofAL ASSEfs LESS¢UAftEHf UABILMÉS 2M60.503 1,920.086 NEfA55Efs FUNDS UnreSrted fvnds R¢*trlcted funds 1,421,876 638,627 1,538,203 381,883 TOTAL FUNDS 1920 086 These flnanqlal st•t•ments hAve been prepared In a¢Mrd•nce wlth the provlslonj appll¢•ble to charftable mpanles subl¢rttothe small ¢ompanles reKlme. Thè ftnancl•l ststements wer• opprov•d by tha Board of Trustee5 and authorlsed for issue on 26/,02/.zz.,.,....... and wereslgned on its behalt bv.. P Falrhurnt-Trustee Th• notesform portofthesefinandal ststements 21
Des1 nabilit Charit Limited Statement of Cash Flows for the Year Ended 31 March 2022 31.3.22 31.3.21 Notes Cash flows from operating activitie5 Cash generated from operations 570,580 485,788 Net cash provided by operating activities 570,580 485,788 Cash flows from Investlng actlvltles Purchase of tangible flxed assets Dividends received 1121,3291 11,538 1104,0521 14,474 Net cash used In investlng activStles 1109,7911 189,5781 Change in cash and ¢a$h equlvalents In the reportlng perlod Cash and cash equlvalents at the beginning of the reporting perlod 460,789 396,210 959,437 563,227 Cash and cash equlv?lents at the end of the reportlng perlod 1,420,226 959,437 22
Desi nabilit Chari Limited Notes to the Statement of Cash Flow5 for the Year Ended 31 March 2022 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.22 31.3.21 Net income for the reporting period las per the St3tement of Flnanclal Actlvltlesl Adjustments for.. Depreciation charges Gain on Investments Dividends received Decrease/lincreasel in stocks Ilncreasel/decrease in debtors Increase creditors 140,417 328,306 143,956 128,7221 111,5381 31,255 133,7841 328,996 217,052 192.7711 114,4741 121,0541 64,627 4.102 Net cash provlded by oper?tlon5 570,580 485,788 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.21 Cash flow At 31.3.22 Net cash Cash at bank 959,437 460,789 1,420,226 959,437 460,789 1,420,226 Total 959,437 460,789 1,420,226 23
Desi nabilit Chars Limite Notes to the Financial Statements for the Year Enrlpd 31 March 2022 ACCOUNTING POLICIES Basls of preparing the flnanclal Statements The financial 5tatement5 of the charitable company, which is a public benefit entity under FRS 102, have been prepared in Bccordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 'The Financlal Reportlng Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical tost convention, with the exception of investment5 which are included at market value, as modified by the revaluation of Certain assets. Go5nE Concern The trustees are tonfident the charity has sufficient resources to meet Its obllgations as they fall due for a period of at least twelve months from the date of approval of these financlal 5tatement5. The financial statements are therefore prepared on a goin8 concern basis. Preparation of consolldated flnanclal statements During the year the Charlty incorporated a subsidiary company. The Charity has taken advantage of the exemptSon not to produce consolldated financlal statements on the ground that its subsidiaryi Designability Limited, is dormant. Crltlcal accountlng Judgements and key Sources of e5tlmatlon uncertalnty In preparing these financial statements, the directors have had to make ihe following judgement5'. Incorne All income Is reco8nised in the Statement of Financial Activities once the Charlty has entitlement to the funds, it is probable that the income will be received and the amount can be measured rellably. The following 5peclfSc policles are applied to parllcular cate8ories of income: Income from donations or 8rants is reco8nised when there is evidence of entltlement to the glft, receSpt Is probable and Its amount can be measured reliably. Legacy income 15 recognised when receipt Is probable and entitlement is established. Consultancy, sales and royaltles are accounted for in the perlod in which the relevant goods or services have been provlded. Income from donated good5 is measured at fair value of the goods unless this is impractlcal to measure reliably, in which case the value Is derlved from the cost to the donor or the estimated resale value. Donated facilitie5 and seNice5 are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Expenditure Liabilities are recognised as expenditure as 500n as there is a legal or constructive obligation committing the Charity to that expenditure, It Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accrua15 basis and has been classified under headings that aggregate all c05t related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes any VAT which cannot be fully recovered, anLI is classified under heading5 of the statement of financial activities to which it relates= 24
Desi nabillt Charlt LlmSted Notes to the Financial Statements continued for the Year Ended 31 March 2022 ACCOUNTING POLICIES-continued Expenditure Expenditure on rai5inE fund5 includes the costs of all fundraising activities, events and non-charitable trading activities. Expenditure on charitable activitie5 includes all costs incurred by the charlty in undertakin8 o¢tivities that turther its charitable alms for the beneflt of its beneficiaries, including those support cost5 and costs relating to the governante of the charlty apportloned to charitable activities. Other expenditure includes all expenditure that is neither related to ralsln8 funds for the charity nor part of its expenditure on tharltable actlvltles. Allocatlon and 3pportlonment of costs Dlrect costs attributable to a single activity are allocated dlrectly to that activity. For restricted projects, expenditure 15 the total of all Invoiced costs plus all recorded staff hours spent on the project. With regard5 to the charge to cover support COSts and overheac15 this is set as 82% for the EV project and 62% for all other restricted funds. Income is the donated income specified for each project, received In the year. The Mobility grant, for the provision of the Wizzybu8 Loan Scheme, allows for an allocation of these funds to 'on approprlate proportlon of organisational overheads and support costs, in line with Wizzybu8 Loan Scheme activity as a proportion of overall Designability activity., The percentage split has been reviewed and is now Set at 62% - 38% split between Wizzybug Loan Scheme restrlcted and core c05t5 funding respectively, Tanglble fixed assets Depreciation 15 provided at the following annual rate5 in order to wrlte off each asset over its estimated useful life. Lon8 leasehold Plant and machlnery Flxtures and flttings Computer equipment Over the lite of the lease Stralght line over 3 year5 Stralght line over 10 years Straight line over 3 yeèrs Wizzybug refers to our fleet of W12zybugs In use or available for the loan scheme. Wizzybug5 are capitalised at Cost of parts and direct labour. Each unit is depreciated over a three year period. Parts not yet used and Wizzybug built for sale but not yet despatched are included in Stock5. Stocks Stock is measured at the lower of cost and estlmated selllng price less costs to complete and Sell, after making allowance for Dbsolete and slow moving items. Taxatlon The charity Is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objective5 at the discretion of the trustees. 25
Desi nabilit Charit Limited Notes to the Financlal Statements contlnued for the Year Ended 31 March 2022 ACCOUNTING POLICIES- contlnued Fund accounting Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated fund5 are unrestricted funds earmarked by the Trustees to further any of the Charity's purp05e5. Further explanation of the nature and purpose of each fund is included in the notes to the flnancial 5tatemenl5. Hlre purchase and leaslng commitments Rentals paid under operating leases are charged to the Statement of Financial Activltie5 On a strai8ht line basis over the period of the lease. Penslon costs Designability partlcipates In two defined benefit pension Schemes, The c05t5 of contrlbutlons are recognlsed in the year they are pald. See note 11 for further detail on these schemes. Transfers Transfers between unrestricted funds and $trIcted funds are made where the Income for the project is exceeded by the costs incurred on the project, or where it ha5 been agreed with the funder to use unspent balances at the end of a project on activities with a sSmilar objective. Debtors and prepayments Trade and other debtors are recognised at the settlement amount due after any trade discounts. Prepayment5 are valued at the amount prepaid net of any discounts. Credltors and prov155on5 Creditor5 and prov551on5 are recogni5ed where the charity ha5 0 present obllgation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligotion can be measured or estimated reliably. Cash and cash equivalents Cash at bank and cash in hand includes cash and Short term highly liquld Investments with o short maturity of three months or less from the date of acquisition or opening of the deposit or slmilar account. Llmitatlon by guarantee The Company is limited by Guarantee and a5 such has no share capital. Under the Constitution, each Trustee of Designability 15 liable to contribute £10 in the event of winding up. Charitable Status The Company is a registered charity Ino 2563351 26
Desi nabilit Charit Limited Notes to the Financial Statements continued for the Year Ended 31 March 2022 ACCOUNTING POLICIES- continued General Information The charity is a private company limited by guarantee, reEiStered in England and Wales and a registered tharity in England and Wales. The address of the registered offite is the Wolfson Centre. Royal United Hospital, Bath, BAI 3NG. The charity constitutes a public benefit entity. Reserves Polity The purpose of Designability's Reserves Policy is to ensure the stability of the charlty, programmes and ongolng operations of the organisation and to provide a source of Internal funds for organi53tional priorities. The ReseNe5 Policy will be implemented in concert with Deslgnability's other governance and financial policies and is intended to SUPPOrt the goals and strategies contalned in these related pollcies and In strateElc and operational plans. This policy includes details of all Fund5 in order to provlde a complete picture of Designability's balance sheet. The total net assets of Deslgnabllity are represented by Funds, Includlng Restricted funds and Unrestrlcted funds. Re5trlcted Funds Restricted Fund5 are 5ubJected to re5trlctions on their expendlture declared by the donor or through the terms of an appeal. Unrestrlcted Funds The Board of Trustees has designated certain Unrestrirted Funds into BDard-Desi8nated Reserves. Designated OperatSn8 Reserve The Operatlng Reserve 55 intended to provide an internal source of funds for sltuatlons such as sudden Increase in expenses, one-time unbudgeted expen5e5, unanticipated loss in fundln& or uninsured1055e5. Operating ReseNes are not Intended to replace a permanent loss of funds or eliminate an ongoing budget gap. It is the intention of Designability that Operating Reserves are to be used arbd replenished within a reasonably short perlod of time. The Operating Reserve Fund is defined as designated fund set aslde by action of the Board of Trustees. The minimum amount to be deslgnated as Operating Reserve will be established as an amount sufficient to maintain ongoing operations and programmes measured for a set period of time, measured in months. The Operatlng Reserve serves a dynamic role and wlll be reviewed and adjusted in response to both internal and external changes. The target minimum Operating Reserve Fund is equal to six month5 of average Unrestricted operating costs. The calculation of average monthly operating costs includes all recurrlng, predictable expenses such as salaries, benefits, office costs, travel and ongoing professional service5. Expenditure on Restricted Research Fund5 and Project Funds, depreclation, in-kind, and other non-cash expenses are not included in the calculation. The calculation of average monthly expenses 3150 excludes some expenses such as one-off or unusual, capital purchases. The amount of the Operating Reserve Fund target minimum will be calculated each year after approval of the annual budget, reported to the Finance Committeel8oard of Trustees, and included in the regular financial reports. 27
Des1 nabilit Chorit Limited Notes ro the Financial Statements- continued for the Year Ended 31 March 2022 ACCOUNTING POLICIES - contlnued Designated Innovation Reserve The Innovation Reserve is intended to provide seed-funding for research and/or development of new products by Desi8nability. Use of this Reserve is decided by the Board of Trustees. Systems and IT Reserve The Systems and IT Development Reserve 15 in place to allow for review of our systems and investment in our IT infrastructure, databases and software to enhance our processes and build a solid internal platform for growth. General ReseNe The General Reserve consist5 of the balance of any unrestrlcted funds that are not designated in the Operating Reserve or the Innovation Resetve. Refurbishmèrtt Reserve The Refurbishment Reserve conslsts of funds donated specifically for Designabllity to spend on buildlngs, In partlcular the refurbishment of its offlces wlth the premises at the Royal Unlted H05pltal Bath. Accounting for Reserves The Designated fte5erve Funds wlll be recorded In the financlal records as Board-Designated Reserves. The Operatlng Reserve wlll be held In cash or cash equivalent funds. Fundlng of Reserves The Operatin8 Reserve wlll be funded with Surplus unrestricted operatlng funds. The Board of Trustee5 may from time to time direct that a specific source of revenue be set aslde for Operating Reserves. Examples could include one-off 8ifts or bequests, speclal grant5 or special appeals. The Innovation Reserve and Systems and IT Reserve will be funded wlth occasional special deslgnatlons made by the Board of Trustees. The Gerberal Reserve comprises any remaining balance of reserves. The Refurbishment Reserve is funded from donations made specifically for buildings and refurbishment of premises. 28
Desi nabilit Charit Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2022 DONATIONS AND LEGACIES 31.3.22 31.3.21 Donations Grant5 1,854,741 5,895 1,534,918 27,346 1,860,636 1,562,264 Grant5 received, included in the above. are as follows: 31.3.22 31.3.21 Flourish York Covid Job Retention Scheme grant Sipa 2 Other grants 11,2301 13,5761 31,354 2,464 1,6661 5,895 5,895 27,346 Government Grants During the year ended 31 March 2021, the charity received a government grant in the form of the Coronaviru5 Job Retention Scheme iaRS1. No grants were due for 2022 year end. Return of grants and donatlons During the year ended 31 March 2021, as a result of Covld, a number of projects were unable to be completed according to the agreement terms. The charity has returned unspent funds previously recogni5ed in income, back to the donor or grant provider.No amounts have been returned in 2022. OTHER TRADING AcfiviTIES 31.3.22 31.3.21 Consultancy and Other Income 5,171 593 29
Desi nabilit Charit Limited Notes to the Financial Statements- con for the Year Ended 31 March 2022 inued INVESTMENT INCOME 31.3.22 31.3.21 Investment Income 11,538 14,474 INCOME FROM CHARITABLE ACTIVITIES 31.3.22 31.3.21 Activity Charitable Activities Charltable Actlvltles Product Sales Royaltles 291,104 21,795 326,703 27,657 312,899 354,360 RAISING DONATIONS AND LEGACIES 31.3.22 31.3.21 Staff costs Sundries 78,756 2,425 30,612 81,181 30,612 CHARITABLE ACTIVITIES COSTS Direct Costs Charitable Activities 1,686,595 SUPPORT COSTS Governance costs Finance Other Totals Other resources expended 816 264,417 45,540 310,773 30
Desi nabilit Charit Limited Notes to the Financial Statements continued for the Year Ended 31 Marth 2022 NET INCOME/{EXPENDITURE) Net incomellexpenditurel is stated after charging/lcreditin81'. 31.3.22 31.3.21 Auditors, remuneration Depreciatlon- owned a55ets Other operating lea5e5 7,250 143,956 11,414 6,700 217,052 11,932 10. TRUSTEES, REMUNERATION AND 8ENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2022 nor for the yeor ended 31 March 2021. Trustees, expenses There were no trustees, expenses paid for the year ended 31 Marth 2022 nor for the year ended 31 March 2021. 11. STAFF COSTS 31.3.22 31.3.21 Wages and salarles Social securlty costs other pension ¢05ts 931,361 92,738 199,964 741,8S3 72,124 138,622 1,224,063 952,599 Key Management Personnel Key management personnel include all persons that have authority and responsibility for plannlng, dlrecting and controlling the activities of the Charity. The total compensation paid to key management personnel for S members of staff12021: 5 members of 5taffl for services provided to the Charity was £335,56112021'. £275,030). Designability participates in two contributory pension plans providing defined beneflts based on flnal pensionable pay. The schemes are as follows.. Local Government Pension Scheme. The assets of the scheme are held separately from those of the Charity. The Charity doe5 not have separate employee registration and is registered as part of the University of Bath for the purpose of the scheme. Accordingly, it 15 not Possible to separately identify the assets and liabilities lating to the Charity for the purpose of Financial Accounting Reporting Standard 102 IFRS 1021 disclosure and accordingly any FR5 102 surplus or deficit attributable to the Charity is not shown on the Balance Sheet. During the financial year, thls scheme closed for new members. Staff already in thi5 penslQn scheme continue to be members for contributions and benefits purposes. 31
Desi nabilit Charit Limited Notes to the Flnancial Statements- contlnued for the Year Ended 31 March 2022 11. STAFF COSTS- contlnued Unlversities Superannuation Scheme. This is a mutual Scheme and again, the assets and liabilities annot be attributable to an employer and any surplus or deficit attributable to the Charity is not recogni5ed on the Balance Sheet. University of Bath Group Pension Plan Any new staff members who joined on or after 1st June 2021 are eligible to join the University of Bath Group Pension Plan. Thi5 15 0 defined ctsntribution scheme and is administered by Aviva. As with the other universities scheme, this is a mutual 5¢heme and any surplus or deficit attributable to the Charlty Is not recognlsed on the balance sheet. The schemes are therefore treated as defined contrlbution schemes in these financial statement5 are permltted by FRS 102. The avera8e monthly number of employee5 during the year wa5 as follows: 31.3.22 31.3.21 Management Deslgn and Engineerlng Fundraising and Promotions Wlzzybug Loan Scheme Finance and Administration io io 28 24 The number of employees whose employee benefit5 lexcluding employer pension costs) exceeded £60,000 was.. 31.3.22 31.3.21 £70,001- £80,000 32
Desi nabilit Charit Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2022 12. COMPARATIVE5 FOR THE STATEMENT OF FINANCIALAcfiviTIE5 Unrestricted funds Restricted funds Total fund5 INCOME AND ENDOWMENTS FROM Oonation5 and legacies 627,882 934,382 1,562,264 Charltable actlvltles Charitable Activities 354,360 354,360 Other tradlng activities Investment income 593 14,474 593 14,474 Total 997,309 934,382 1,931,691 EXPENDITURE ON Ralslng funds Raising donations and legacies 30.612 30,612 30,612 30,612 Charltable actlvltles Charitable Activities 590,352 909,307 1,499,659 Other 165,885 165,885 Total 786.849 909,307 1,696,156 Net gains on inve5tment5 92,771 92,771 NET INCOME 303,231 25,075 328,306 Transfers between funds 161,9111 61,911 Net movement In funds 241,320 86,986 328,306 RECONCILIATION OF FUNDS Total funds brought forward 1,296,883 294,897 1,591,780 TOTAL FUNDS CARRIED FORWARD 1,538.203 381,883 1,920,086 33
De51 nabilit Charit Limited Notes to the Financial Statement5- continued for the Year Ended 31 March 2022 13. TANGIBLE FIXED ASSETS Asset5 under construction Long leasehold Plant and rnachinery COST At l April 2021 Additions Disposals 52,780 904,000 60,000 54.0(Xll S9,121 At 31 March 2022 59,121 52,780 910,000 DEPRECIATION At l Aprll 2021 Charge for year Eliminated on disposal 52,780 744,980 141,470 54,0Tr)1 At 31 March 2022 52,780 832,450 NET BOOKVALUE At 31 March 2022 59,121 77,550 At 31 March 2021 159,020 Fixtures and fittings Computer equipment Totals COST At l April 2021 Additions Disposals 22,114 2,208 60,845 1,039,739 121,329 154.0001 At 31 March 2022 24,322 60,845 1,107,068 DEPRECIATION At l April 2021 Charge for year Eliminated on disposal 15,138 481 46,374 2,005 859,272 143.956 154.0001 At 31 March 2022 15,619 48,379 949,228 NET BOOK VALUE At 31 March 2022 8,703 12,466 157,840 At 31 March 2021 6,976 14,471 180,467 34
Desi nabilit Charit Limited Notes to the Financial Statements continLJed for the Year Ended 31 March 2022 13. TANGIBLE FIXED ASsS- continued As5et5 under constructlon This is cost5 in relation to the RUH refurbishment projert. The majority of the costs will be Incurred in 2022-23 and this is when the refreshed office5 ond new assessment rooms will be available for Use. 14. FIXED ASSET INVESTMENTS Listed investment5 MARKETVALUE At l Aprll 2021 Revaluations 586,705 28,722 At 31 March 2022 615,427 NET BOOK VALUE At 31 March 2022 615,427 At 31 March 2021 586,705 There were no Investment assets outside the UK. Cost or valuation at 31 March 2022 is represented by.. Listed investments Valuatlon at 31" March 2022 615,427 15. STOCKS 31.3.22 31.3.21 Completed Wizzybugs and parts 168,288 199,543 35
Desi nabilit Charit Limited Notes to the Financial Statements continued for the Year Er)ded 31 March 2022 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 31.3.21 Trade debtor5 Other debtors VAT Prepayments and accrued income 40,332 83,739 18,059 43,224 33,236 29,599 88,735 185,354 151,570 17. CREDITORS,. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 31.3.21 Trade creditors Other creditors Accruals and deferred income 162,665 90,383 233,584 123,491 12,620 21,525 486,632 157,636 18. LEASING AGREEMENTS Minimum lease payment5 under non-cancellable operatin8 leases fall due as follows: 31,3.22 31.3.21 Within one year Between one and five year5 In more than five years 52,863 201,189 287,376 52,863 222.452 326,572 541,428 601,887 A lease of the property at the Wolfson Centre was entered into on 26 May 1995 and renegotiated on 23 April 2013. By the term5 of the lease, the annual rent was reviewed and agreed at £5,330 lexcluding VATI- The lease expires on 28 September 2067. There were no capital cost5 to the Charity. Two leases were entered into on 2 December 2019 for 2 units (Units 1&2, Wells Road, Bath, BA2 3API, which operate as the workshop, desi8n and innovation space and additlDnal ofFices. The lease expiry on these agreements is December 2026. 36
Desi nabilit Charit Llmited Notes to the Financial Statements- continued for the Year Ended 31 March 2022 19. ANALYSIS OF NET A55ETS BETWEEN FUNDS 31.3.22 Total funds 31.3.21 Total funds Unrestricted Restricted funds funds Fixed assets Investments Current assets Current liabilities 80,290 615,427 1,212,791 1486,6321 77,550 157,840 615,427 1,773,868 1486,6321 180,467 586,705 1,310,550 1157,6361 561.077 1,421,876 638,627 2,060,503 1,920,086 20. MOVEMENT IN FUND5 Net movement in funds Transfers between fund5 At 31.3.22 At 1.4.21 Unrestrlcted funds General Reserve OperatinB ReseNe Innovation Reserve Systems and IT Reserve 490,909 862,294 115,000 70,000 89.760 1451,2951 181,208 84,000 38,294 129,374 1,043,502 199,000 50,000 158,2941 1,538,203 31,466 1147,7931 1,421,876 Restricted funds Wizzybug Loan Scheme AT Newsletter Jur¢ior Dynamic Seat Lloyds ReElSter York Health Wizzybug Acce55 Wizzybug Redesign Refurbishment Reserve A¢ce55ible EV Charging Pu5hchair for Wheelchair Users 293,937 1,672 4,704 75,623 12,4001 15,0001 11.755 3,246 116,0651 128,787 63,582 137,0671 369,560 728 296 1,755 6,411 8,118 28,036 39,005 9,657 7,947 156,823 102,587 137,067 381,883 108,951 147,793 638,627 TOTAL FUNDS 1,920,086 140,417 2,060,503 37
Desi nabilit Charit Limited Notes to the Financial Statements c ntinued for the Year Ended 31 March 2022 20. MOVEMENT IN FLINDS- continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General Reserve Systems and IT Reserve 848,704 1787,6661 158,2941 28,722 89,760 58,2941 848,704 1845,9601 28,722 31,466 Restrlcted funds Wizzybug Loan Scheme AT Newsletter junior Dynamic Seat Lloyd5 Register York Health Wiizybug Access Wizzybu8 Redeslgn Refurbishment Reserve Accesslble EV Charging Pushchair for Wheelchair Users 779,770 1704,1471 12,4001 15,0001 11,7551 11,7541 116,0651 134,1191 1320,2821 1147,0671 75,623 12,4001 15,0001 11,7551 3,246 116,0651 128,787 63,582 1137,0671 5,000 162,906 383,864 10,000 1,341,540 1,232,589) 108,951 TOTAL FUNDS 2,190,244 12,078,549) 28,722 140,417 38
Desi nabillt Charit Limited Note5 to the Financial Statem nts continued for the Year Ended 31 March 2022 20. MOVEMENT IN FUNDS- Continued Comparatlves for movement in funds Net movement in fund5 Transfers between funds At 31.3.21 At 1.4.20 Unrestricted fund5 General Reserve Operating ReseNe Innovation Reserve Systems and IT Reserve 555,721 721,162 20,000 303,231 1368,0431 141,132 95,000 70,000 490,909 862,294 115,000 70,000 1,296,883 303,231 161,9111 1,538,203 Re5trlcted funds Flourish Autonomous Vehitle5 WSzzybu8 Loan Scheme Technology Gallery AT New51etter Junior Dynamic Seat En8ineering Design Lloyds Register York Health Wizzybug Access Infant Wheelchoir W12zybu8 Redesign Blood Pressure Monitor Refurbishment Re5eNe Accessible EV Charging University of Strathcylde 2,502 183,381 7,675 3,153 9,704 1,424 12,5741 110,556 110,1731 11,4811 72 293,937 2,498 1,672 4,704 15,0001 2,576 3.576 14,0001 13,5761 13,5891 168,9751 125,3471 11,6661 10,000 13,891 33,465 1,666 28,036 6,411 55,084 8,118 28,036 39,005 39,005 13,1051 3,105 294,897 25,075 61,911 381,883 TOTAL FUNDS 1,591,780 328,306 1,920,086 39
Desi nabilit Charit Limited Notes to the Financial Statements continued for the Year Ended 31 March 2022 20. MOVEMENT IN FUNDS- continued Comparatlve net movement In funds, included in the above are as follows: Incoming resources Resources expended Gains and Movemerbt Ios5e5 in fund5 Unrestrlcted funds General ReseNe 997,309 1786,8491 92,771 303,231 Restrlcted funds Flourish Autonomous Vehicles Wizzybug Loan Scheme Technology Gallery AT Newsletter Englneering Deslgn Lloyds Register York Healih Wizzybug Access Infant Wheelchair WSzzybug RedesiEn Blood Pressure Monitor Accessible EV Charging University of Strathcylde Government grant- CJRS (Furlough) 11,2301 807,536 11,3441 1696,9801 110,1731 18,9811 14,0001 12,5741 110.556 110,1731 11,4811 14,0001 13.5761 13,5891 168,9751 125.3471 11,6661 39,005 13,1051 7,500 13,5761 13,5891 168,9751 127,3471 2,000 11,6661 90,000 2,464 31,354 150,9951 15,5691 131,3541 934,382 1909,3071 25,075 TOTAL FUNDS 1,931,691 1,696,156) 92,771 328,306 21. RELATED PARTY DISCLOSURES For Administrative purposes Designability's staff payroll is processed through the University of Bath. Salary costs are invoiced by the University to Desi8nability. There is I trustee12021'. 11 who works for the Univer51ty but ha5 no control or influence over the areas relating to these administrative functions. Trustee5 and Officer5. liability Insurance The Charity has effected Trustees, and Officers, Liability Insurance cover. 40