Company registration number.. 02069723 Charity registration number.. 295573 ROAD SAFEfY FOUNDATION (A company Ilmited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ROAD SAFEfY FOUNDATION CONTENTS OFTHE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Contents Page Reference and administrative details of the Company, its Trustees and advisers Trustees, Report Independent auditor's report on the financial statements 10-12 Consolidated statement of financial activities 13 Consolidated balance sheet 14 Company balance sheet 15 Consolidated statement of cash flows 16 Notes to the financial statements 17-30
ROAD SAFEfY FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENDED 31 DECEMBER 2024 Trustèes Dr S K Hammerton Dr S M Sharland Miss A J Overton-wood MrNDJ Lomas Mr R I Sanderson (appointed 3 December 20241 Company registered number 02069723 Charity registered number 295573 Registered office 60 Trafalgar Square London WC2N SDS Reglster Inspectlon address Lily Hill House Lily Hill Road Bracknell England RG12 2SJ Company secretary S Holroyd Independent auditor Cooper Parry Group Limited Statutory Auditor Cubo Birmingham 4 Floor Two Chamberlain SqLJare Birmingham 83 3AX Bankers Barclay5 Bank PIC 8 Market Place Basingstoke RG217QA
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also directors Of the charity for the purposes of the Companies Actl present their annual report together with the financial statement5 of Road Safety Foundation Ithe company) for the year that ended on 31 December 2024. The Tru5tee5 confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102. Since the company qualifies 85 small under section 383, the Strategic report required of rredium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. Objertivès and artivities Charitsble objects The Road Safety Foundation was e5tabli5hed t() promote rtsad safety for the benefit of the public and in particular by.. the carrying out or procuring (whether by way Of financial assistance or otherwise) the research into all factors affecting the safe use by all members of the community of public roads and the publication of the useful results of such research. the promotion of the circulation throughout the community of advice, information and knowledge regarding the safe use of the public roads by all classes of users thereof. to conceive, develop and implement whether alone or jointly with third parties ideas, programmes and course of action whether of an educational or other nature designed to or having as their objective the improvement of any aspect of road safety including (but not by way of limitation of the foregoing) the carrying out of any projects or prograrnme5 intended to educate young children or other5 in the safe use of the public roads. In setting objettives and planning our activities, the Trustees have considered the Charity Commission's guidance on public beriefit including the guidance on public benefit and fee charging. In seeking grant5 and other voluntary income to support our ongoing work, the Trustees consider the accessibility of the Charity's work to those organisations that seek to further the public benefit in relation to road safetv. The CharltVs Focus The Foundation's mission is to help make road travel as safe a5 rail and air on Britain's roads and beyond,. this mission being closely aligned to implementation of a Safe System and Vision Zero. In working towards this goal, the Charity recognises that road users will always make errors even when they are diligently observing the rules of the road and so road collisions should be viewed as inevitable, and that road users have limited tolerances to collision forces. In response the Charity advocates that we should design a safe road system where the road, speeds and vehicle5 work together to prevent collisions from resulting in fatal or serious injury. The United Nations has declared 2020-2030 the second Decade of Action for Road 53fety, in support of the Sustainable Development Goal to halve road deaths by 2030 from a 2020 baseline. The World Health Organisation ha5 Set formal global road safety performance targets, the ones relating to road infrastructLJre embrace the IRAP Star Rating of new and existing roads which forms a large part of the Charity's work. With centr31 and Ioc31 government increasingly looking to create a Safe System, road authorities are turning to the IRAP Star Rating approach to enable them to be proactive and systematic in reducing road risk. As the United Kingdom Road Assessment Programme (United Kingdom RAPI lead, RSF'S work has moved towards implementation and capacity building, while helping road authorities to overcome some key challenges of Safe System implementation. Advocacy remains èn important component of the Charitv 5 work t() ensure
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 proactive risk reduction becomes ubiquitous and road safety investment is sufficient to meaningfully reduce fatal and serious injury. The Charity aims to help reduce road trauma through the adoption of a Safe System by.. Analysing the safety performance of roads, priorit15ing where investment is likely to make the greatest impact and scoping the scale and returns of different investment options. Providing the approach, tools and training necessary to support road authorities in taking a proactive approach to road risk reduction. 3. Undertaking research to progress knowledge and policy. 2024 ProBramme In 2024, the Foundation completed a thriving portfolio of projects and work5tream5 including advocacy and leadership. oversight of the United Kingdom IRAP initiative. research arid development, crash risk mapping. and leadership of the Older Driver5 Task Force. Advotaty and Leadershlp The Charity has presented at several high profile events or conferences this year including Highways UK Ikeynotel, Traffex, 'Road Safety Leadership.. An Agenda for the UK, hosted by Towards Zero Foundation/parliamentary Advisory Council for Transport Safety IPAcfsi, Association of Directors of Environment, Economy, Planning & Transport IADEPTI national traffic manager5 conference, Local Government Technical Advisors Group ILGTAGI conference, Society of Road Safety Auditors1SoRSAI annual conference, Passive Safety conference, Institute of Traffic Accident Investigators IITAII Crash Day, International Road Assessment Programme liRAPI in Europe event in Brussels, and Joining the Dots held bv Road Safety Great Britain IRSGBI. In addition, RSF had a stand at the National Road Safety Conference in Birmingharn. The Charity has also participated in many webinars, including RSGB webinar, Street5 for Diversity, National Highway5 Analyst Conference, National Highways Spotlight 5erie5, and IRAP knowledge sharing webinars. In September 2024, the Charity hosted, together with Toward5 Zero Foundation and PACTS, a fringe event on road safety at the Labour Party Conference. The Charity has re-invigorated a Road Authority User Group for those using IRAP as a methodology, which meets three times a year for mutual support and best practice. RSF 31so est3bli5hed a Task and Finish group on transport appraisal which led to the use of different methodologie5 for transport appraisal being trialled in scheme development. The RSF partner5 Wlth variou5 Other Charitie5 working in road safety. This year, the Charity contributed to, and supported, the Road Safety Manifesto led by PACTS and continues to support their Safe System Forum work. The Charity is an active member of PACTS, with our Programrne and Engineering Director chairing the Road Environment Working Party. The Executive Director chaired a report (Progressing the UK towards Safe System Implementationl for Chartered Institute of Highways and Transportation ICIHTI, and presented at its launch. The Charity contributes to the National Highways Road Safety Panel and has participated in a road safety ministerial roundtable. The Executive Director gave a presentation to the Roads Committee of the ORR btsard. Several of the RSF team judge multiple road safety awards through the year, and the Executive Director was invited to present the National Highways Road Safety Awards alongside their Chief Engineer. In 2024, RSF provided Safe Systern training in collaboration with Agilysis to Transport for West Midlands, Transport for Greater Manchester, South Gloucester County Council, National Highways, and an open course in Banbury.
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Brltlsh EuroRAP Results 2024 The British EuroRAP result5 were launched in November. The report, 'Driving Change Investing in Safer Roads" can be viewed here.. htt roadsafet loundation.or ro ect drivin -chan e-investin -in-safer- roads The report describes the safety performance of each tier of road network in each of the countries of Great Britain and highlights possible investment portfolios for British roads. An interactive data portal can be accessed here.. htt rsfrna 51s.co.uk ènd the data continue to be used by road authorities across Great Britain and in the scoping of major investment opportunities. Unlted Klngdom IRAP Inltlatlve De artment for Tran5 ort and Local Roads In 2024 RSF ha5 continued to work with the Department f()r Tran5POrt to support the Safer Roads Fund ISRFI. Improvements to processes and tools have been made to better streamline the support offered. RSF h3S completed extensive capacity building, notonlyfor local authorities with SRF Schemes, but also those without. The training has involved 152 people across several courses.. Safe System and Road Safety Engineering, Introduction to IRAP, IRAP revised and updated Route Review Tool. IRAP expert trainin& and IRAP Star Rating for Design. Further courses were under development in 2024 for delivery in 2025. RSF also completed a project to re-survey the original SRF 5cheme5 from 2018 to a55ess how the scheme5 have changed the level of safety provision on these routes. In addition, a CycleRAP pilot was undertaken in Oxford. Further IRAP 5urvey5 of local roads in 2024 have been supported by RSF, including Surveys in C3mbridge5hire, Kent and Jersey. En lish Strate ic Roads National Highways has embraced the IRAP approach and is continuing to embed the use of IRAP in several areas such as strategic planning, performance monitoring, prioritisation, and route treatment. The Charity continues to support National Highways in the development of policy, tools and training materials to deepen the use of IRAP in day-to-day activities. In 2024 the Charity has undertaken an extensive training programme for National Highway5 tearn members in using the Route Review proce55 and tool that have been delivered in 2024, along with training for those approving schemes. RSF supported preparations for the 2025 survey of the Strategic Road Network, by developing detailed guidance for coding. RSF has provided training and oversight for several supply chain partners, such as Arup, Aecom, WSP, Mott MacDonalds and Jacobs. Further work for National Highways being delivered in partnership with Arup, Aecom and jacobs has continued using IRAP in the development of road safety route optimisation schemes and a guide to road safety treatmerits. Additional work has been undertaken for WSP in assessing options for different routes using Star Rating for De5ign5. The Office of Rail and Road IORRI continues to meet and consult with the Road Safety Foundation regularly. Welsh Strate ic Roads In 2024, RSF has continued to support Welsh Government in enhancing and using the IRAP survey results. RSF oversaw the introdurtion of connected vehicle speed data into the IRAP 5urveyfor Wale5, Support and training has been provided for a number of pilot route treatment projects, and RSF continues to 51JPPOrt a number of working groups to use the data. Research and Development In 2024, the Charity concluded the telematics speed project funded by the Road SafetyTrust. making available Eranulèr speed data to road safety stakeholders in West Midland5. The Route Review Tool used by road authorities to develop and appraise the impact of potential road safetv schemes has now been transformed to include a much greater emphasis on speed management. The speed management functionality allows road authorities to analyse the gap between actual speeds and safelrl
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 speeds across their network or along routes and will allow authorities to test different options to manage speeds. In 2024, RSF also completed a piece of work to scope out a new methodology for settin8 speed limits, started a project to better understand survivable speeds, and started a project to establish several Safe System Fatal Review Panels. Older Driver5 Task Force The Foundation continues to run the Older Driver5Ta5k Force. Following on from the launch of the 2, edition of 'Supporting Safe Driving into Old Age.: htt road5afet foundation.or ro ec 5afe-drivin -into-old- l in November 2021, the Foundation contin(Jes to try and identify implementation opportunities for the recommendations that were made. Future Plans In 2025 the Foundation plan5 to seek to.. Continue to advocate for further road safety engineering investment based on our annual crash risk mapping and performance tracking analyses Provide thought leadership regarding the implementation of a Safe System in UK by developing concepts, policy, training, and materials Provide leadership of the United Kingdom IRAP initiative by running the road authority User group and by communicating the collective achievements and impact of the prograrnme Support National Highway5 in its planning for RIS 3 and RIS 4 and in embedding the use of the IRAP data and approach in practice Support Welsh Government in maximising the impact of their IRAP survev Advocate for safety performance management of the Major Road Network in a similar way that this is done for the Str3tegic Road Network. with measurement of the safety performance of road infrastructure as a performance indicator Continue to highlight the challenges of local authorities particularly relating to road safety governance, capacity, funding and strategic approach Continue to support local authorities in undertaking IRAP surveys and developing highly effective road safety remedial countermeasure programmes Build capacity amongst road authority personnel and their supply chain in delivering a Safe System Undertake research and innovation activities to refine the IRAP too15 such that they sUPPOrt S3fe System implementation in UK Continue leadership of the Older Drivers Task Force and to scope out irnplementation opportunitie5 Support initiatives at the European and global level where the Charity's special skills can contribute effertivelv Structure. Governance and Management Constltutlon The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 31 October 1986. The company is constituted under a Memorandurn of Association dated 31 October 1986 and is a registered charity number 295573. Method of Appointment or Election of Trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The minimum number of Trustees shall be three save for circumstances where a charity las defined by sl of the Charities Act 20111 is appointed as a trustee. in which case it may serve as a sole trustee of the Foundation. There shall be no maximum number lunle55 Otherwise determined by Ordinary Resolution).
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Pollcies Adopted for the Inductlon and Trainlng of Trustees Tru5tee5 are sought for the Board Specifically to add value to the Charity. This is both in terms of creating a Board that is representative of the community that the Charity serves, and one that has all the skills and experience required to properly carry out the work of the Charitv. When a potential trustee 15 identified, they are usually invited to attend a Board meeting in the capacity of observer. Once they and the Board of Trustees have gained a greater understanding of each other they are nominated for election to the position of trustee and elected by unanimous decision. As part of their induction and training, newTru5tee5 are given briefing5 on their legzl obligztions under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision- making processes, the business plan and the recent financial performances of the Charity. Trustees are also encouraged to attend appropriate external training events where these will facilitate an enhanced understanding of the requirement5 of their role. The Charity is fortunate that it is able to attract committed individuals with great relevant experience in the field and in public life. d. Organisational Strurture and Decision Makin8 The Charity is governed by the 8oard of Trustees. The 8oard agrees and monitors the Fonmard Plan and approve5 all the Charity's policie5. The dayto day running of the Charity 15 delegated to the Executive overseen by a Management Committee which includes at least one Trustee. Board meetings are held at least three times a year primèrily to review financial reports, discuss issues of strategic direction, and programme prioritie5. The Road Safety Foundation holds founder shares in Evropski ingtitut za ocenjevanje cest- EuroRAP IEIRAI which 15 a not for profit entity based in Slovenia which focu5es on promoting road Safety infrastructure in Europe. Thi5 is largely achieved by participating in con50rtium led Horizon Europe research and innovation projects. EIRA provides a management report to the Board of Trustees at each of its meetings to update the trustees on progress of its projects. As the turnover threshold of EIRA and RSF has now exceeded £lm the consolidated results of the Road Safety Foundation Group are included in the Group result. For the purposes of company law, the Trustees shown on page l are the directors of the company. The Trustees who served during the year were as follows.. Dr S K Hammerton Dr S M Sharland Miss A l Overton-wood MrN DJ Lomas Mr R I Sanderson lappointed 3 December 20241 Related Party Relationships Detai15 of related party transactions are set OLJt in note 20 of the notes to the financial statements. Rlsk Management The key risks which RSF has identified and the steps being taken to minimise these risks are listed below: Volatility in funding and other financial risks. This risk is being managed through actively seeking diverse source5 of income arid not being reliant on one single Source of funding. Retentiori of key executive Staff. This risk is being managed by having staff performance review5. the Foundation carrying out benchmarking review5 and by having succession plans in place. Insufficient staff to undertake project delivery. This risk is being managed by having a pool of competent subcontractors and casual workers. We also benefit through a joint employment arrangement with IRAP. Insufficient projects in the pipeline. This is being managed by the Executive meeting regularly with Stakeholders and identifying ways in which we can work together. In addition. the Executive regularlv review the project pipeline and undertake long term forecasting. Loss of trustee5. This is being managed by regularly reviewing our pool of potential trustees to ensure we have sufficient trustees to manage the needs of the Charity.
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Ensuring we have trustees with the right skills for the Charity. This is being managed by conducting a trustees skills assessments to ensure that our trustees have relevant experience to meet the current and future needs of the Charitv. Poor contractual performance. This risk is being managed by having strong project controls and a quality assurance process in place. IT security. This 15 being managed by having data backup, fraud awarene55 training for staff, cyber insurance and security procedures in place plus we undertake regular penetration testing. To ensure that risks are identified. and appropriate control measure5 are put in place, the Board of Trustees has recently reviewed the major ri5k5 to which the Foundation is exposed and their potential impact. Actions have been taken or identified to mitigate them, and they will continue to be reviewed periodicallv. The Tru5tee5 are responsible for the CharitV'5 SVStem5 of internal control and effectiveness. No system of internal control can provide ab501ute assurance against material misstatement or loss. However, the Charity's system is designed to provide the Board of Trustees with reasonable assurance that there are proper procedures in place, and that they are operating effectively. The key elements of the internal control System are.. Delegation.. There is a clear organisational structure with a documented Delegation of Authority IDOAI in place which is reviewed and approved by the 8oard. Reporting.. The Board of Trustees approve5 and review5 annual budgets and monitors actuals and forecast expenditure on a regular basis. Risk Mana8ement.. The potential risks arising from the Charity's artivities have been documented in a comprehensive risk register. This is reviewed and updated regularly and reviewed by Trustees at least once a year. The risk management process follows three main requirements or sources of guidance.. The Charity Governance Code, the Charity Commission's "Charity and Risk Management" ICC261 and the statement of Recommended practice "Accounting and Reporting by Charities. The Charity has in place an anti-corruption and bribery policy which states that it is our policy to condurt all our activities in an open and honest manner. We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally. fairly and with integrity in all our activities We alwèys aim to follow best practice and the provisions of the UK Bribery Act 2010 with all new staff undertaking training on this 85 part of their induction proce55. We also ensure that our subcontractors are 8ware of the provi5i0ns and agree to them as part of our standard contractual process. Refresher training is also provided to staff. Another law which is significant to the Charity is the General Data Protection Regulation IGDPRI. We keep an up-to-date list of processing activities and where appropriate will conduct a data processing impact assessment on new activities. We also provide regular staff refresher training on the GDPR. To protect the Charity from fraud, we have several key controls in place which are.. Segregation of duties for financial processes. This means ensuring that no one person is in control of all aspects of a charitls finances or a transaction. Records of all income and expenditure are kept, as well as receipts, invoices, or any supporting dtscuments such as contracts or agreements. No special privilege5 for a rnember of staff or Trustee. Financial contro15 must not be overridden. bv- passed, or ignored, whether by TrLJStees, staff or volunteers. Bank statements and other accounts are regularly reconciled by a person, with spot checks carried out on books and records. No cash transactions. We do not hold petty cash and all transactions are performed through secure electronic banking with reputable banks. There 15 a whistleblowing policy in place whereby staff can rzise any concern5 in a confidential and safe manner.
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Financial and Re50urcin8 Position Fundlng The Charity's long-term independence has been built on raising diverse funding and by ensuring its programme and fixed costs do not exceed its committed income or reserves. While seeking to continue to work in close partnership with central and local government, Trustees continue to seek private sector funding to maintain diverse income. Resourclng The voluntary Ljnpaid work of experienced Trustees and Council mernbers is central to guiding and contributing to the programme. Its Trustee base continues to evolve to ensure we have skills in business management, fundraising, research and training. Given the significant profile that the Foundation now has, the Charity regularly reviews the skills of its Trustees to ensure that it has a diverse skills base to support and develop its work. The joint employment agreement which the Charity enjoys with the International Road Assessment Programme liRAPI, together with the Charity's network of self-employed professionals, allows the progr3mme to expand and contract efficiently in response to dernand5. Going Concern The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Flnantlal Revlew The Road Safety Foundation holds founder shares in Evropski institut za ocenjevanje cest- EuroRAP IEIRAI which is a not-for-profit entity based in Slovenia which focuses on promoting road safety infrastructure in Europe. As the turnoverthreshtsld of EIRA and RSF has now exceeded £1 million, consolidated results are now required to be presented. During the year the the Group achieved a surplus of £161,300 being a £153,989 surplus in RSF12023..£68,8221 and 3 £7,311 surplus in EIRA. The improved performance of RSF wa5 largely due to lower project costs and careful management of overhead costs. Trade debtors for both group and charitv at the end of the period stood at £73.748 and these have now all been received in full. At the end of December 2024, EIRA received a pre funding payment in respect of a new EC Horizon consortium project of £2,450,083. These funds were distributed to respective con50rtium partner5 in January 2025. Reserve5 Policy The Charity reviews the level of reserves each year. Re5erve5 are held for three main reasons. To protect the continuity of the Charity's work in the event of a shortfall in income. To provide the capital needed to finance the ongoing development and work of the Charity. To provide funds to replace assets. The Trustees have established that the general level of reserves that the Charity need5 should be sufficient to cover at least eleven months of its forecasted 'core" cost base at a value of £453,311. At year end, the Charity had available reserves of £475,948. Material Investments Policy Under the memorandum and articles of association, the Charity has the power to invest in any way the Tru5tee5 W15h. The Foundation has adopted a low-risk approach to investing surplus cash by placing cash on deposit accounts at the bank.
ROAD SAFETY FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Future Factors that may Affect Flnanclal Performance The Foundation ha5 been fortunate to secure many long-term contracts largely from national and local government sources. Going forward, the Foundation is actively looking to add other sources of income to diversify its portfolio of supporters for its valuable work. Statement of Trustees, Responsibilities The Trustees Iwho are alsci the directors of Road Safety Foundation for the purposes of company lawl are responsible for preparing the Tru5tee5' report and the firiancial statement5 in accordance with applicable law and United Kingdom Accounting St3ndards (United Kingdorn Generally Accepted AccoLJnting Practice). Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the net income or expenditure, of the charitable company for the year. In preparing those financial statements the Tru5tee5 are required to.. select suitable accounting policies and then apply them con51Stentlv. observe the methods and principles in the Charities SORP,. makejudgments and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tirne the financial position of the charitable company arid to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps forthe prevention and detection of fraud and other In 50 far a5 the Trustees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware- and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. This report was approved by the Board of Trustee5 on 24 June 2025 and signed on its behalf bv.. kHAxh¥eto Dr S K Hammerton Trusteè
ROAD SAFETY FOUNDATION INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ROAD SAFEfY FOUNDATION YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audited the financial statements of Road Safety Foundation (the 'parent charitable company'l and its subsidiaries Ithe 'group'l for the year ended 31 December 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant atctsunting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financi31 Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statement5'. give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statement5 in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatin8 to going concern In auditing the financial st3tements, we have concluded that the Trustees, use of the going concern b3sis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified èny material uncertainties relating to events or conditions that, individually or collectively, may cast Significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorized for issue. Our responsibilitie5 and the responsibilitie5 of the Trustees with respect to going concern are described in the relevant sections of thi5 report. Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustee5 are responsible forthe other information contained within the Annual report. 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 express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially mi5Stated. If we identify such material incon515tencie5 or apparent material mi5Statements, we are required to determine whether this gives rise to a material misstatement 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. io
ROAD SAFETY FOUNDATION INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ROAD SAFEfY FOUNDATION Icontinuedl YEAR ENDED 31 DECEMBER 2024 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 audit, we have not identified material mi55tatements in the tru5tee5' annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept by the Group and charitable company, or returns adequate for our audit have not been received frorn branches not VlSlted by us,. or the Group's and charitable company's financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specified by law are not made.. or we have not received all the information ènd explanation5 we require for our audit. the trustee5 were not entitled to prepare the financial statements in accordance with the Small companies, regime and take advantage of the Small companie5, exemptions in preparing the Trustee5' Annual Report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the Statement of Trustees Responsibilities, the Trustees (who are also the dirertors of the charitable company for the purpose of company lawl are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the tru5tee5 determine 15 nece55ary to enable the preparation of financial statements that are free from material misstatement, whether dLJe to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable. matters related t() going concern and using the going eoncern basi5 of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do 50. Audltorfs responslbllltles for the audlt of the financ5al statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an Auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with 15As IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered rn3terial if, iridividually or in the aggregate, they could reasonably be expected to influence the economic deci5ion5 of user5 taken on the basis of these financi81 st8tements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect rnaterial mi55tatement5 in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Our assessment focused on key laws and regulations the charitable company has to comply with and areas of the financial Statements we a55essed as being more 5U5ceptible to mi55tatement. These key laws and regulation5 included but were not limited to compliance with the Companies Act 2006, Charities Art 2011, taxation legislation, data protection and employment legislation. li
ROAD SAFETY FOUNDATION INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ROAD SAFEfY FOUNDATION Icontinuedl YEAR ENDED 31 DECEMBER 2024 We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following.. obtaining an understanding of the legal and regulatory framework applicable to the Group and charitable comp8ny and how the Group and charitable company is complying with that framework, including agreement of financial statement disclosures to underlying documentation and other evidence,. obtaining an understanding of the Group and charitable compantys control environment and how the Group and charitable company has applied relevant control procedures. through discussions with management and by performing walkthrough testing over key area5', obtaining an understandirig of the Group and charitable company's risk assessment process, including the risk of fraud- reviewing Meeting minutes of those charged with governance throughout the year,. and performing audit testing to address the risk of management override of controls. including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transaction5 Outside the normal course of bu5ine55. and reviewing accounting estimates for bia5. Whilst considering how our audit work addressed the detertion of irregularities. we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material mi55tatement in the financial 5tatement5 or non-compliance with regulation. This risk increa5e5 the more that compliance with a law or regulation 15 removed from the events and transactions reflected in the financial statements, as we will be les5 likelyto become aware of instances of non-cornpliance. The risk is a150 greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our Auditor's report. 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 eharitable company's members those matter5 we are required to state to thern in an auditor's 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 as a body, for our audit work, for this report, or for the opinions we have formed. Glen Bott Isenior Statutory Auditor) • for and on behalf of.. Cooper Parry Group Limited Statutory Auditor Cubo Birmingham Office 401, 4th Floor Two Chamberlain Square Birmingharn B3 3AX Date.. 26 Jun8 2025 12
ROAD SAFETY FOUNDATION IA company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted fund5 2024 Total funds 2024 Total funds 2023 Note Income from- Charitable activities Investments 982,194 12.731 24,480 1,006,674 12.731 820,198 7,549 Total Income 994,925 24.480 1.019.405 827,747 Expenditure on: Charitable activities 833,681 24,424 858.105 758,925 Total expendlture 833,681 24,424 858,105 758,925 Net income/lexpenditurel 161,244 56 161.300 68.822 Transfers between funds Transfer of subsidiary on consolidation Foreign exchange reserve 56 1561 9,521 11871 9.521 11871 Net movement in funds 170,634 170.634 68.822 Re¢on¢lllatlon of funds: Total funds brought forward Net movement in funds 16 16 321,960 170,634 321,960 170.634 253,138 68.822 Total funds carried fonNard 16 492,594 492.594 321,960 The Consolidated statement of financial activities includes all gains and losses recognised in the year. The note5 on poge5 17 to 30form purt of thesefinonciolstotements 13
ROAD SAFETY FOUNDATION IA company limited by guaranteel REGISTERED NUMBER: 02069723 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024 Total 2024 Total 2023 Note Flxed assets Tangible assets Investments li 12 512 1,823 260 2,083 512 Current assets Debtors Cash at bank and in hand 13 79,244 3,547,174 71,501 998,817 3.626.418 1,070,318 Current liabilities Creditors 14 13,134,336) 1750.4411 Net ¢urrent assets 492.082 319,877 Total net assets 492,594 321,960 Charlty funds Unrestricted funds Restricted funds Foreign exchange reserve 16 16 16 492,781 321,960 1187) Total funds 492.594 321,960 The Trustees acknowledge their responsibilities for complyinÉ with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved by the Board of Trustees on 24 June 2025 and were signed on its behalf by.. kHAknhLetto Dr S K Hammerton Trustee Date: 24 June 2025 The notes on pages 17 to 30form part of thesefinanciul statements 14
ROAD SAFETY FOUNDATION IA company limited by guarantee) REGISTERED NUMBER.. 02069723 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2024 Total 2024 Totsl 2023 Note Flxed assets Tangible assets Investments li 12 263 260 523 1,823 260 2,083 Current assets Debtors Cash at bank and in hand 13 77,844 984,631 71,501 998,817 1.062.475 1,070,318 Current liabilities Creditors 14 1587,040} 1750,4411 Net ¢urrent assets 475.435 319,877 Total net assets 475,958 321,960 Charlty funds Unrestricted funds Restricted funds 16 16 475,958 321,960 Total funds 475.958 321.960 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved by the Board of Trustees on 24 lune 2025 and were signed on its behalf by.. kHAS•ih¥erto Dr S K Hammerton Trustee Date: 24 June 2025 The notes on Pages 17 to 30form purt of thesefinancial statements 15
ROAD SAFETY FOUNDATION IA company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flow from operating artivitie5 Cagh generated from operations 18 2.551.391 123,725 Net cash Benerated by operating artivitie5 2.551.391 123,725 Cash flows from investing activities Purchase of fixed asset investments Purchase of tangible fixed assets Interest received 12601 19971 12.731 7,549 Net cash used in investing activities 11,734 7,289 Change In cash and cash equlvalents In the year 2,563,125 131,014 Cash and cash equivalents at the beginning of the year 19 984.049 853,035 Cash and cash equivalents at the end of the year 19 3,547,174 984,049 The notes on poges 17 to 30form port of thesefNftoncNol stotements 16
ROAD SAFETY FOUNDATION IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting poll¢les 1.1 Basis of preparation of financial statements and consolidation The financi31 statements consolidate the activities of Road Safety Foundation and of its subsidiary undertaking, Evrop5ki institute 2a ocenjevanje cest- ELJroRAP IEIRAI I'the subsidiary'l. The financial statements have been prepared under the historic cost convention, unless otherwise stated in the relevant accounting policy, and in accordance with the the Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021, the Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Ipublished in October 2019 and effective from l January 20191, the Charities Act 2011 and the Companies Act 2006. Road Safety Foundation meet5 the definition of a public benefit entity under FRS 102. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the Company and it5 subsidiary. The results of the subsidiary are con501idated on line by line basis. The Company ha5 taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and ha5 riot presented it5 own Statement of Financial Activities in these financial statements. The income and expenditure account for the year dealt with in the financial statements of the parent charitable company was a surplus of £153,98912023: surplus of £68.8221. 1.2 Going concem The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the for5eeable future. For this reason they continue to adopt the going concern basis in preparing the financial statement5. The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, the trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. 1.3 Income All income is recognised once the charity h85 entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Project income is recognised on the stage of completion of the project, which is calculated based on the estimated margin at completion of the project. Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donated professional service5 and facilities are recognised on the basi5 of the value of the gift to the company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 17
ROAD SAFETY FOUNDATION IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies Icontinuedl 1.4 Expenditure ExpenditLJre is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaking each activity. Direct cost5 attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and SLJPPOrt costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the Ljse of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities 15 incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1.5 Taxation and deferred taxation Road Safety FoLJndation is a registered charity and as such is exempt from income tax and corporation tax under the provisions of Section 478 of the Corporation Tax Act 2010. There is no similar exemption for VAT, which is included in expenditure or in the cost of assets as appropriate. 1.6 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably bv the charity,. this is normally upon notification of the interest paid or payable by the Bank. 18
ROAD SAFETY FOUNDATION IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies Icontinuedl 1.7 Tangible fixed assets and depreciation Tangible fixed assets are ¢apitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged $0 as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives are as follows.. Office equipment Computer equipment 3 years 2 years Fixed assets are reviewed for impairment where there are indications their service potential may be reduced. For example, an asset related to a specific activity will be reviewed for impairment when there are indications the activity may cease or be reduced. 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and in hand intludes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities a5 a finance cost. 19
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies Icontinuedl 1.11 Financial instruments The Charity's activities expose it to the financial risk of changes in foreign exchange rates and they therefore enter into forward contracts to hedge against volatile exchange rate movements. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. The method of recognising any resulting gain or loss depends on if the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. Changes in the fair value of any derivative instruments that do not qualify for hedge accounting are recognised immediately in the income statement. 1.12 Forelgn Currencles Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the statement of financial activities. 1.13 Pensions The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 1.14 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated fund5 comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 15 of the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 2 Critical accounting estimates and area5 of judgement Estimates and judgments are continually evaluated and are based on historical experience and other factor5, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Company makes estimates and assumptions concerning the future. The resulting accounting estimate5 and assumptions will, by definition, seldom equal the related actual results. Critical areas of judgment: The assessment of the useful economic lives and the method of depreciating fixed asset requires judgement. Depreciation is charged to the Statement of Financial Activities based on the useful economic life selected, which requires an estimation of the period and profile over which the Company expects to consume the future economic benefits embodied in the asset5. 20
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINVEDI FOR THE YEAR ENDED 31 DECEMBER 2024 3 Investment Income Unrestricted funds Restricted funds Total 2024 Totsl 2023 Deposit account interest 12,731 12,731 7,549 12,731 12,731 7,549 The income from donations and legacies was all unrestricted. 4 Income from charitable activities Unrestricted funds Restricted funds Total 2024 Totsl 2023 Grants Project delivery income 248,917 733,277 24,480 273,397 733,277 90,747 729,451 982,194 24,480 1,006,674 820,198 Grants received. included in the above, are as follows.. 2024 2023 European Commission Road Safety Trust EIB Road Safety Partnership EuroRAP Support Grant RST Telematics IRAP Support Grant Dft Challenge Fund 120,309 12.742 8,776 4,279 57.135 4,000 3,815 8,563 24,480 76,115 43,930 273,397 90,747 21
ROADSAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 5 Analysis of expenditure on charltable activltles Summary byfund type Unrestrlcted fund5 2024 Restrlcted fund5 2024 Total 2024 Total 2023 Charitable activities Governance costs 828,341 5.340 24,424 852,765 5.340 753,728 5,197 833,681 24,424 858,105 758,925 Total 2023 758,925 758,925 758,925 6 Analysis of expenditure by activities Actlvltles undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable activities Governance costs 852,765 852,765 5,340 753,728 5,197 5,340 852,765 5,340 858,105 758,925 Total 2023 753,728 5,197 758,925 Analysis of direct costs Charitable activities Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Wages Research projerts IRAP Finance and HR Recharge Membership fees Exchange differences Sundries Bank charges Printing Computer costs Communications Subscriptions Legal and professional costs Office costs Computer equipment 473,229 242.539 38.372 16,682 7.351 489,911 249.890 38.372 316,605 343,427 37.648 5,400 754 123 269 790 358 3,750 604 5.002 37,370 1,628 753,728 4.718 48 984 1.250 1.279 2,417 631 24.795 35,752 2.327 828,341 4.718 48 984 1.250 1.279 2,808 631 24.795 35,752 2.327 852,765 391 24,424 22
ROADSAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 6 Analysis of expenditure by actlvltles {¢ontlnuedl Analysis of support costs Charitable activities 2024 Governance costs 2024 Total Total 2024 2023 Governance 5,340 5,340 5,197 5,340 5,340 5,197 7 Net income/lexpenditurel Total 2024 Total 2023 Net incomellexpenditurel is stated after charging/lcreditingl: Auditors remuneration Depreciation owned assets Net Igainsl / losses on foreign exchange 5,340 2.308 4.718 5,197 1,628 754 23
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 8 Staff costs Group 2024 Group 2023 Company 2024 Company 2023 Gross wages National insurance costs Pension costs Other employee benefits 404,342 46,833 26,918 11.818 255,622 25,411 25.719 9,853 281.127 27,747 26.918 11.818 255,622 25,411 25,719 9,853 489,911 316,605 347.610 316,605 The average monthly number of employee5 and trustees during the year wa5 as follows.. Group 2024 Compony 2023 Trustee5 Employee5 12 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2024 Company 2023 £60,001- £70,000 £70.001- £80,000 £80,001- £90,000 £90,001- £100,000 Key management remuneratlon The key management personnel of the charity comprise the trustees and the senior management team. The total amount of employee benefits lincluding employer pension contributions) received by key management personnel for their services to the charity was £102,76612023.. £98,677). 9 Trustees, and Key Management remuneration and expenses The trustees neither received nor waived any remuneration or any other benefits from employment during the year12023.. £Nill. Trustee5 expenses of £728 have been incurred during the period12023'. £1221. 24
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 10 Tanglble Fixed Assets Group Computer Equipment COST At I january 2024 Additions Disposals 7,764 997 At 310ecember 2024 8,761 DEPRECIATION At I january 2024 Charge for the year Elimination on disposal 5,941 2,308 At 310ecember 2024 8,249 BOOKVALUE At 31 December 2024 512 At 31 December 2023 1,823 Companv Computer Equipment COST At I january 2024 Additions Disposals 7.764 At 31 December 2024 7,764 OEPRECIATION At I january 2024 Charge for the year Elimination on disposal 5,941 1,560 At 31 December 2024 7,501 BOOKVALUE At 31 December 2024 263 At 31 December 2023 1,823 25
ROADSAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONMNUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 11 Flxed Assets Investments Investments in subsidiary companies Company COST At I january 2024 Additions Disposals 260 At 31 December 2024 260 BOOKVALUE At 31 December 2024 260 At 31 December 2023 260 Principal subsidiaries The following wa5 a subsidiary undertaking of the Company.. Name Company Number Registered office Holding Included In Consolidation Evropski institute za ocenjevanje 6957986000 Dunajska cesta 128, Ljubljana, cest- EuroRAP IEIRAI Solvenia loo% Yes The financial results of the subsidiary for the year were.. Name In¢ome Expendlture Profitlllossl I Surplusl{deflcltl for the year Net assets Evropski institute za ocenjevanje cest- EuroRAP IEIRAI 192,408 1185,0981 7,311 16,895 26
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 12 Debtors Group 2024 Group 2023 Company 2024 Company 2023 Trade debtors Other debtors Prepayments and accrued income 73.749 620 39,097 2,436 29,968 73,749 620 39,097 2,436 29.968 4.875 3.475 79.244 71,501 77.844 71.501 13 Creditors Group 2024 Group 2023 Company 2024 Company 2023 Trade creditor5 Accruals and deferred income Social secLJrity and other taxes Bank Loans and cash in transit (see note 141 VAT Other Creditors 5.045 608.162 8,683 1,367 659,911 8.574 2.194 516.137 8,683 1,367 659,911 8,574 14,768 22,296 43,525 14.768 22,296 43,525 14.318 2.498.128 14.318 45.708 3,134,336 750,441 587,040 750,441 Group 2024 Group 2023 Company 2024 Company 2023 Deferred income at I january 2024 604,323 Resources deferred during the year 569,930 Amounts released from previous period,. 1604.323) 440,564 604,323 1440,5641 604,323 487,919 1604.3231 440,564 604,323 1440.5641 569.930 604,323 487.919 604,323 14 Loans An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand= Cash in transit 14,768 27
ROADSAFETY FOUNDATION {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 IS Statement of funds Net movement in funds Transfers between funds At 31112124 At 111124 Unrestricted funds General Fund Foreign exchange reserve 321,960 170,765 11871 56 492,781 11871 Restrlcted funds Restricted Fund 56 1561 TOTAL FUNDS 321,960 170,634 492,594 Net movement in funds are as follows.. Income Expenditure Movement Unrestricted funds General Fund EIRA Foreign exchange reserve 994,925 9.521 1833,6811 161,244 9,521 11871 11871 TOTAL UNRESTRICTED FUNDS 1,004,446 1833,868} 170,578 Restrlcted funds Restricted Fund 24,480 124,4241 56 TOTAL RESTRicfED FUNDS 24,480 124.4241 1858,2921 56 TOTAL FUNDS 1.028,926 170,634 Comparatlves for movement In funds Net movement in funds Transfers between funds At 31112123 At 111123 Unrestricted funds General Fund 253.138 78,276 19.4541 321,960 Restricted funds Restricted Fund 19,4541 68,822 9,454 TOTAL FUNDS 253,138 321,960 Net movement in funds are as follows.. Income Expenditure Movement Unrestricted funds General Fund 757,870 1679,5941 78,276 Restricted funds Restricted Fund 69,877 179.3311 19.4541 TOTAL FUNDS 827,747 1758,9251 68,822 28
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 16 Analysls of net assets Analysis of net assets between funds- current perlod Unrestricted funds Restricted funds Total funds Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 512 512 3,626,418 13,134,336) 3,626.418 13,134,336) Total 492,594 492,594 Analysis of net assets between funds- prior period Unrestrlcted funds Restrlcted funds Total funds Tangible fixed a55ets Fixed asset investments Current assets Creditors due within one year 1,823 260 1.055.550 1735,6731 1,823 260 1,070,318 1750.4411 14,768 114,7681 Total 321,960 321,960 17 Reconciliation of net income to net cash flow from operating activites 2024 2023 Net incomellexpenditurel for the reporting period las per the Statement of Financial Activities) Adjustments for.. Depreciation charges Interest received Decrease/lincreasel in debtors Increaselldecreasel in creditors Elimination of investment in subsidiary on consolidation 170,634 68,822 2,308 112,7311 17,7431 2,398,663 260 1,628 17,5491 6.888 53,936 Net cash provided by operations 2,551,391 123,725 18 Analysis of cash and cash equivalents 2024 2023 Cash at bank Cash in transit 3,547,174 998,817 114,7681 Total cash and cash eqLJivalents 3,547,174 984,049 29
ROAD SAFETY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 19 Analysis of changes in net funds At 111124 Cash flow At 31112124 Net cash Cash at bank Cash in transit 998,817 14,768 2,548,357 14,768 3,547,174 Total 984,049 2,563,125 3,547,174 20 Related party transactions The FoLJndation is related to the International Road Assessment Programme liRAPI, Road Assessment Services Limited IRASLI, EuroRAP AISBL IEuroRAPI (dissolved on the 7 November 20231 and Evrop5ki institut za ocenjevanje cest EuroRAP IEIRAI through common key management and has a joint employment agreement in place with these organisations. At the point, EuroRAP was dissolved, the founder shares of EIRA were transferred to the Road Safety Foundation. EIRA is a wholly owned subsidiary of Road Safety Foundation and is considered to be a related party. The available exemption for transaction5 Wlth wholly owned subsidiaries under Section 20 FRS 102 has been taken. During the year. the Group shared staffing costs of £86.349 12023.. £93,536). made other payments of £104.17712023.- £79,4871 and received grants of £72,10112023.. £Nill with IRAP. It also made payments of £Nil to EuroRAP12023.. £5,279) and payments to Road Assessment Services of £Nil12023.. £2,905). The Foundation received payments from EuroRAP of £Nil12023.. £16,2561- At 31 December 2024, included in the other creditors 15 £48,04512023'. £43,525) due to IRAP. Dr Susan Sharland is a trustee of both the Foundation and the International Road Assessment Programme liRAPI. She is also 3 director of Road Assessment Services Limited. Mrs Shona Holroyd is a Director of both EIRA and RASL in addition to being the Chief Financial Officer and Company Secretary of the Foundation. 21 Ultimate controlling party The company is under the control of the Trustees. 30