Techniquest Company limited by guarantee Financial statements for the year ended 31 March 2022 Company No. 01955696 Charity No. 517722 •A8E52SMX' 0711tY2022 CONIPANIES HOUSE
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Techniquest Contents fr1ember5 of the 8oard and professional advisers Annual Report Statement of re5pon5ibilities 14 Independent audit¢vs' report ........ 15 Statement of Flnancial ACtivitS........ ............................................................ 18 Balance Sheet............................. .20 statement of Cash Flows.................................. .21 Notes.to the financlal statements ... .22
Members of the Board and Professional Advisers Company reglstration number 195S696 Charity number 517722 Registered office Stuart Street Cardiff CFIO 5BW Chlef Executive Mrs Lesley Ktrkpatrid¢ Direttor5ltrustees Mrs K Harris Mrs J Mortimer Mr L Sharma Mr D OToole Mr P Pugh Mr G Stèoy (appointed - .2fvJ December 2021) Mrs S Waft11e (appointed _ 111 April 2022) Mr S Bowden Ideceased) Mr L Davies Mr E J James Removed - 8th April 2021 Resigned - 12th January 2022 Re%gned - 24tb June 2022 Secretary MrMDNash Bènkers HSBC Bank pl 97 Bute Street Cardiff CFLO SNA Lloyds Bank l Queen Street Cardiff CFIO 2AF Legal Advisors Acuity Law 3 Assembly Square Britsnnia Quay Cardiff Bay Cardiff CFIO 4PL Independent Audltors Bevan Buckland LLP Ground Floor Cardigan House Casue Court Swansea Enterprfise Park Swansea SA7 9LA
Techniquest Annual Report & Accounts Statement by the Chair and Chief Executive regarding the Covid-19 pandemic During this financial year Techniquesvs operatlon continued to be challenged by the impact of the pandemic. Following a very brief opening in November 2020, the centre was closed for a further Sbx months until 21 May 2021. When It re-opened, vlsltor numbers were restrirted. social distsnong was in force and an enhanced cleaning regime Wa5 deployed. The new Omicron varianr emerged in early December and brought further challenges as Vlsltors Stayed away and members of the team either fell ill to the vlrus or were required to self-lsolate pending the outcome of PCR testlng. H¢ever, desptte these setbacks during the February half-term holiday5 in 2022 we were welcomong around 825 visltors each day and the outlook for the charity n¢)w looks muth brighter. Our focus over the next tsyo years is to continue to re-build our buslne55 and our visitor numbers. Our extended science centre. the Sclence Capital, has been well recelved by our audiences and our post-visit survey allows us to adapt ano amend the operation in line wlth visitor feedback and responses. Although Techniquest is an educational charity we now operate in a more commerclally focused manner. concentrating on InCa$lng spend per head and upselling each individual part of the experien. The board of trustees contTrnue5 to have the passion and drive to help ensure Technlquest succeeds and grows over the next few years and the strategy approved In December 2020 gives the executive tearn dear dirertion, ftxusing on the business'5 immedlate priothtles. A refurbished latjoratory. ne¥v projection unit in the planetarium and several new exhiblts will conty.nue to add to the Techniquest experien an¢J improve our offer durlng 2022. Over the last twelve months. we have contfinued to see an incredible effort by our very small and dedicated team. Now, as Covid restrictions relax and we start to see enqulrie5 in commercial bookFngs increasing. Techniquest's futu looks much brsghter 3$ we embrace our vision to be the UK'S leading Scien dlscovery centre by 2030. Karen Harris (Chair of Techniquest) & Lesley Kirkpatrick (Chief Executive)
Techniquest Annual Report & Accounts Our oryanisation Techniquest Is a company limited by guarantee and Is a registered educational tharity committed to ensuring that Wales develops a scientifically literate $Iety. Its mlssion Is to embed 5tience in Welsh culture through interath.ve engagement. The Board, who are trustees also Directors for the purp05e5 of the Companies Att, present their report and the audited financial statements for the year ended 31 March 202.2. Objectives and artlvlties Objects The princi1 objert of the company. as set out in ts Memorandum ofA55¢Xlation. is to promote the advancement of education and leaming of sdence, technology. engineeringi arts and mathematics (STEAM) and in particular to do so by maintaining and carrying on an exhibition to explore various saentific and artistic concepts and to encourage an awareness amongst the general public of STEAM in sooety whilst helping to in¢ase the èccessibility of STEAM. The protettion and preservation of the environment for the benefit of the public by: a) The provision and maintenance or improvement of a recreational and educational space: or b) The provision of some other amenity Our Vision: To be the VK'S leadin9 science discovery centre by 2030. Techniquesl wfill be the UK'S leading soence dlscovery centre. regarded as an exemplar of innovative, interactive STEAM engagement. Wales will be the leading nation in stientific and technological endeavour. driven by a sustained supply of young people entering STEAM careers, supported by an outstsnding and world-leading school engagement progrnmme. Our Mlsslon: To embed science in Welsh culture through interactive engagement. Techniquest's aim is to promote the advancement of education and engage the public in STEAM by establishing permanent and temporary interactive exhibitions in Wales, together with supporting educational programrne5 and a series of outreach programmes for those unllkely to visrt a permanent exhibition. Our Purpose: We celebrate and inspire scientific and téchnolo9ical ¢Jiscoveries. A¢tiviti¢$ Techniquest offers presenter-led pro9rammes for public visitors in its scTrence theatre, planetariLtrm and lal)oratory. It also offers a range of special events induding Toddler days. as well as speafic evening events for adults. Visits from school groups recommenced in July 2021 after 17 months absence. albeit in reduced numbers initially. Durin9 the year 5.882 pupils visited the centre. Technique5t historically dellvered a hlgh-quality outreath programme for 5th0015. However, during the Covid-19 pandemic. Techniquest acknowledged the need to shift to the provlsion of digital programmes for sthools and developed existing shows to enable these to be offered through a digital platform and supported by online teachers. resources. During 2021122, new shows have been developed and Techniquest now has a total of 16 di9ital shows to support
Techniquest Annual Report & Accounts the science, technology. engineering and mathematics curitula. This approach will contlnue in the future as Technique51'5 physical outreach adivfity will be Ilmited to communlty engagement work. Techniquest was awarded a three-year contratt with STEM Learning Ltd to manage teacher5. continuous development In Wales on their behalf. During the year Techniouest tontinued to pmvide CPD vlrtually and achieved a total of 390 days of onllne professional development opportunities to teachers. Technique5t continued to manage the Nuffield Research Placement Programme In Wales for year 12 students. Under this scheme, A-level students undertake research placements with practlsfin9 researchers for periods of four to slx weeks during the summer holidays. A national celebration event for the 76 students that participated on the scheme in summer 2021 was held In October 2021. 85% of the partlopatjng students were from low-income families. To celebrate Intematlonal Women In Science Day on 11 February 2022, Tethnhiue5t hosted a virtual event involving seven sessions wlth Inspirational fernale role mode15. Fifteen separate schools, tbvo colleges and a total of 1,880 students enga9ed in the sessions. Despite the pandemic Technlquest managed to host two virtual conferences in partnership with Cardlff and Swansea Universities for &'ology and Chemistry stu¢Jents in June 2021 and worked with the Universitles of South Wales and Trinlty St David to deliver training for teacher training students in February 2022. Techniquest continues to manage the STEM Ambassador for Wales Hub on behalf of STEM Learnin9 Ltd. which allows the charity to develop closer links With the STEM Amba55ador network to enhance its programmes. In addltion to the continued finanoal support from the Welsh Government, Techniquest ts very grateful to the following organisations for their funding or in-kind support for the charity's activities durlng the year.. UK Association for Sclence antj Discovery Centres.. British Heart Foundatlon.. Gibbs Charitable Trust: Royal Society of Chemistry: Simon Gibson Charitable Trust; Stow Family Law LLP: Sonnedix UK SeFvices Limited: Wellcome Trust,. The Waterfoo Foundation; Oakdale Trust; Dignity UK: Murphy Neurnann; G?e10 Weston: HLM Architetts,. Kf Foundation: Blakemore Foundation; STFC; Barratt and David Wilson Homes South Wale5,' SPTS via the KLA Foundation: Acr Training: E¢Jina Trust.. Biixhemical Society. STEM Learnin9 Ltd; Charity Aid Foundation: and Wales Council for Voluntary Actlon.
Techniquest Annual Report & Accounts Perforniance Report Background In spite of the thallenges brought about by the pandemio Tene5$ expendlture ha5 been well controlled over the year and the financial position of the tharity at the year-end has Improved significantly from previous forecasts. During the year. the Welsh Government continued to support the charoty with a grant of £200,000 which was supplemented by an additional £50.000 to SUPkXIrt learners post-covid. Funding of £200,000 has also been confinned for the following finanaal year 2022-23. Although the Welsh Government 15 not in a posits.on to confirm fundlng post 2023, the CEO an(f Head of Education continue to engage with civil servants and the Educatlon Minister to demonstrate the pogtive impact that Techniquest has in relation to learning and the STEM enrichment agenda. Techniquest contlnues to focus on the impjernentstion of Fts strategy approved In December 2020. Techniquest will continue to seek partnerships with prominent Welsh and UK organlsatlons In the fields of STEAM (Govemment. charitles. academla. searCh facilltles. businesses and the arts sector), to secure sponsorship and recurrent funding contributions in return for highlighting and supporting the attivities of those organisations. Techniquest will also build on the community engagement work carried out prior to the start of the pandemic aimed at diversfylng and extendlng its audlence. The restrirtions Imposed by the pandemic resulted in the cancellation of all bookings for events and commerrial hire during 2021. However. the liftin9 of restrictions has enabled several third-party bookings to take place in February and March this year. The Science Capital Back in 2018. Techniquest developed and submitted a successful application to the Inspiring Sdence Fund (ISF). which was co-funded by the Department of Buslness, Energy and fndustrial Strategy {BEIS), UK Researth and Innovation (UKRI) and Wellcome to support science centres across the UK by usng a capital fund to help centres rethink what they do and what they offer to the public. The ISF provFded the charity with the opportunity to develop n ambitious projett and assotiated vision entitled -The Soence Capital-. This builds upon the principles of increasing an inOividual's"Kience capital" The ISF supported projects that will: create opportunitie5 for young people and the PLJblic to leam at)out and engage with STEAM; sustain and extend the centre's audien base (with an increased focus on wldenin9 audiences),. and improve the organisation's financial sustainability and reslllence. The £5.5m Science Capital is the realisation of Techniquest'5 vision. to be the UK'S leading science discovery centre and regarded as an exemplar of innovattve, interactive STEAM engagement. The Soence Capital project has enabled Techniquest to expand its site and will help It become one of Wales. most iconic and highquality visitor destinations. The plan remains to increase visitor numbers (to 250.000 by 2030). grow income and build economic resilience. helping to ensure that Techniquest has a sustainable future. The implementation of the Science Capital projett is expecred to provide potential for further commercial income opportunities Wlth in-built versatility throughout the multi-funrtional new space allowing the marketin9 of Techniquest as a world-dass corporate and private funttion hire venue. leading to increased commercial activity.
Techniquest Annual Report & Accounts Audlences Since Tethniquest re-opened in May 2021 the charity has welcomed 84.038 visltors and feedback has been positive. A total of 5,882 pupils (primary and secondary) have visited since schools returned in 2021, although the Covid restrittions limited the number of pupils visits.ng at any one time. with school groups attending in class or school °bubble5'. The digital outreach programme reached 316 schools and 24.583 pupils. In addition. ènd as part of reaching out ro dder audiences, Tethniquest held the flrst Science Café pilot for over Sss in February 2022. As well as time on the exhibbtion floor and an opportunlty to share their thoughts on ftjture topics. trming and price for tafes. the session was supplemented with talks from keynote speakers. The feeoback from the session has been )sitlve and will inform the model for the cafes going ft>n¥ar(l. Tethniquest Exhib•tion FollowTng the installation of the Saentt Capttal. Tethniquest alrns to conUnue to Invest In its exhibltion and bring new experiences to its audiences. During the year, two new exhibits were installed, adding to the environment 5ertton created through the Saence Capital. Global solar power producer Sonnedix installed a brand new exhibit which coincided wlth the COP26 conference in Glasgow. Sonnedix SolQuest. offers a virtual leaming experience that takes the visitor on a iourney through the Sonnedix Ata(ama solar plant in Chilp. one of the largest solar photovoltaic plants in the country. Participants in the quest Interart with different parts of the solar plant. learning about how energy from the sun is harnessed and transforrned Into dean electrldty to power the nearby communrties. In Marth 2022. another new exhlbit was installed; a brand new temporary exhibition focusing on the ecosystem and dimate of Hatholm Island. Workin9 Wlth Cardlff Harbour Authority. Cardiff City Council. Yard Digital Agency and the warden5 of Flatholm island, Cordiff Metropolitan University installed a prototype at Tethniquest which take5 dats collected on Flatholm and translate5 this into tangible ima9es representlng what is happening on the Island. By touthing different panels of the exhibit. audien5 can light up the map wlth colour to ¢Jiscover more about the ecology of the Island.
Techniquest Annual Report & Accounts Flnanclal revlew The results for the year enLling 31 March 2022 are set out in the Statement of Flnanaal Actlvlties (SOFA) on page 19. Results Unrestricted Funds Techniquest wa5 able to resume a more normal trading pwtion from May 2021 following the Welsh Governrnent's relaxation of Covid re5triction5. A cautious, risk-assessed approach was adopted, with sessions set to optimise safety. As the year progressed and numbets we IncaSed. these session sizes were retained as customers were also noting that the quality of experience was also enhanced because attess to exhibits was improved. The switch to online tlcketing has enabled Techniquest to control this environment. and also enabled more accurate forecasting of Income. Total unrestricted income for the year was £1.612,541 (2020-21.. £1,089,450). The previous year's accounts reflected the Impatt of the Covid pandemlc on the buslness. Access to grants proved to be a lifeline for Tethniquest during that year, when £911,980 was received. This year grant income fell to £327,419 of which £250.000 was reiVed from the Welsh Government's CO grant, £41,919 from the job-retention subsidy, £29,500 from other Welsh Government backed grants. and £6.000 from Cardiff City Council. Income from the provision of edueational services delivered was £1,017.846 {2020-21: £149.730),' the remaining income was derived from digital outreach products delivered to schools, and from retail sales and rental tncome. Unrestricted expenditure for the year was £1.588.330 {2020-21: £1,487,470) which is £100,860 higher than the previous year. Thls increase reflects the reinststement of running costs associated with the increased trading position, but also Indudes a reduction In depreciation costs for unrestricted assets. Restricted Funds - Provision of school outreach educational servites and the Nuffield Programm¢ During the year. £115.379 (2020121= £37.380} of both income and expendlture was restricted for the provi5i0n of school outreach educational services and the Nuffield Programme. Thi5 was achieved despite the restrittions placed on schools by the Covid-19 pandemic. Restrirted Funds - Inspiring Sclence Due to the income CognItion criteria of the Charities SORP 2019, a further £30,OIY) restricted income received in 2021122 (2020121.. £269.971) for the Inspiring Science project was reeognised on the SOFA. The Charitie5 SORP 2019 income recognitlon criteria specify that income should be recognised when the following criteria are fulfilled: entitlement is dear i.e. contrd over the economic benefit of the grant passes to the charity- probability i.e. there 15 certainty that the grant will be receipted by the charity,. measurement i.e. the amount of the grant can be meaSUd lIably. Projett expenditure of £404.194 (2020121.. É177.488) ¥vas reco9nised on the SOFA in 2021122 and as a result, there was a deficit of £374,194 (2020121: surplus £92.483), which is included in the restricted reserve for the Inspiring Sclence Restricted Fund. The restricted reserve for the Inspiring Science Fund has been used exclusively for the construttion projett. The Sdence Capital builolng projett was Cornped In Au9USt 2020, and all new exhlblts
Techniquest Annual Report & Accounts cornmis5ioned and made adY for use In October 2020. The totsl transfer value ofassets under construttlon to the relevant asset dasgfication was £4.8rn (see note 8). Total Funds for the year On the SOFA. there was a Total Funds defiat this year of £312,483 (2020121: £305,537). This omprfsed a surplus of £24.211 on unrestricted funds and a deficit on restricted fvnds of £336,694. Rese•ves The reserves policy has been developed based on the need to mttl9ate the highest risk areas identified in the Technwuest risk register and is in a range of between EO.85m to £1.3m. Techniquest's current level of free reserves is £929.621. which Is totsl reser¥es less net book value of fixed assets, and anticipated designati¢)ns for future cornmilments. and is In line w6th the current reserves policy. The pollcy has been reviewed by the Finan Dirertor, dirertors and Chief Executlve Offir durin9 various Board and sub-committee meetings. Designated reseryes The main items that have been designated from the general fund by the dlrectors are: l. A designated fund of £335.432 relatin9 to the net book value of a portion of ttte SoenTr Capital Project supported by a Welsh Governmer)t grant. This will be reduced over as the loan is paId. 2. A deslgnated fund lating to future commitments of E312.000 has been set aslde to ensure that sufficient funds are avaikble to meet commitments in the unlikely event of the charity's activities ceasing: 3. A deslgnated fund of £700,000 has been set aside for future capital Investment, ncluding a refurbishment of the Planetsrium and a proposal to utilise the capacity provided by developlng the West Terra. ftestrirt Funds Within restmcted funds. an amount of £3.939.459 has been allocated in respert of the net book value of the assets for the scien Capital Project. This wfill be dUCed over the useful economic life of the assets in line with depreciation policy. The balan of £37.500 is in respett of a grant received frorn WCVA. Investment Policy Technique5t maintains cash balances to sUprt the reserves policy. Cash balances a invested with major banking institutions to maximise interest receivable within a low-dsk environment. Dividend The payment of a dividend or any other dlStr¢bution to members is not permitted under the terms of Techniquest's Memorandum of Association. Suppller Payment Policy During the year Techniquest introduced a standard code of payment of 30 days following the date of the invoice. The numl)er of days. purtha5es outstantling at the year-end was XXX (2020121.. 26.31. Tax Status Techniquest is a registered tharity and. therefore, no provlyon has tjeen made for taxatlon on ts chorltable income. 10
Techniquest Annual Report & Accounts Employees Techniquest has been through several periods of significant change during the last five years. In 2016 a new values and behaviours framework was introduced. followed by a move to Results Based Accountability. or outcomes-based Wong in April 2019. The results of these changes led to quote a dramatic shift in the culture of the organisation which contlnues to recognise the importance of colleagues and their contributs.on to the success of the charity. This year staff members were invlted to form a steerOn9 group addSSIng equallty, dlverslty ano InClUOn matters in Techniquest. Staff numbers reduced In September 2020 following a restrncturing exercise necessary because of the Covi¢J-19 lockdown restrirtion5 placed on the chartty, although we were able to support others vla the UK government's furlough scheme. staff pay has been subject to an annual review pro$$. and Techniquest ts now accredited as a Living Wage employer. The staff received a pay award in November 2021 backdated to April 2021. Disabled Persons Techniquest has a policy of encouraging the employment of disabled per50n5 wherever this is practicable and makes 0$onable adjustments to workin9 conditions or to physical features of its premises where disabled persons are placed at a substsntial disadvantage in comparison wlth people who are not disabled.
Techniquest Annual Report & Accounts Structure• governance and management Governing document Techniquest is a company limlted by guarantee and a registered tharity. Its governlng documents are its Memorandum and Artides of Assooation as adopted on incorporation in 1986 and as subsequently amended by written resolution in September 2020. The charitable company has one wholly owned subsidlaryi Technlquest Enterprfses Limlted. This company is currently dormant but be reattivated if and when it Is decided to engage in slgnificant tradin9 that falls outde of the objects of the company. Members of the Board and the company's advisers The Board and other adviser5 who served the company during the year. and up to the date of signing. together wbth other administrative details of the company. can be found on page XX. Board and governance structsre Board members are appointed or removed by resolution of the Members of the company in a General Meeting. Board members reti by rotation at the Annual General Meeting and may be re-elected. The Board has been constituted so that finance. legal, educatlon and technology fields. local entrepreneurs and communities are well represented. New members undergo an Induction programme to ensure that they are acquainted with all aspects of the organisation inclLtding an opportunity to meet key employees. In addition, they are fully briefed on their legal obligats.ons under tharity and company law. The Board is responsible for the company's strategy and poliry framework. Board meetings are held at least quarterly and there is a separate sub-commlttee covering finance ènd audit. The Board has adopted the Charity Govemance ce (for larger tharltles) whlch Sets out seven prinople5 and recommended practice for good governance. It 15 Intended to be used as a continuous improvement tool. supp)rting the Governan Pollcy that already exlsts. Techniquest is already adhering to most of the code and produced a plan against those areas of recommended practice that We not being fvlly complied with. uslng the °apply or explain" pproach recommended within the code. The 8oard has overall responsibility for ensuring that the company has appropriate systems of contro15, financlal and otherwise. The Chief Executive Officer (CEO) advises the Board on strategic issues and manages day-to-day operations With certaln restrictior4s. The CEO appoints certain senior execub.ves to the senior management team. which meets formally on a weekly basis. Risk management The Board has responsibility for the formal risk management proce55 and regularty reviews the current risks the charity faces and the controls in place to mitigate these risks. The Leadership Team maintains and monitors an up-to-date risk register priorltised in terms of potential impact and likelihood of otturrence. All risks within the risk re9lSter are reviewed regularly by the Audit & Finan Committee and then shared with the Board. The Board seeks to minimise levels of r•sk wherever possible it acknowledges that some risk Is unavoldable when operating within its chosen environment. The risk register has been reviewed and revised to align with Techntque5t's new strategy an(J slx strategic themes of: admissions. marketing and PR.. customer experience. events and retail,. business development- and education development. The Covid-19 pandemic caused Techniquest to be more cautious in its approach to social distancing and safeguarding. a5 well as a(kling pressure to a Posslble sk>wdown of Income 12
Techniquest Annual Report & Accounts from admisslon5, but the most snffiCant risks hjentsfied alaoY have, or will 500n have, attion plan5 In place to mltlgate those Trsks to levels acceptable to the Board. Building Tethniquest's land and buildings in Cardiff Bay are held principally freehold wlth a small leasehold element. The land and buildings are recorded in the financial statements at cost. The land and buildings were last valued at 19th August 2020 by an independent profess(onal firm of chartered surveyors on a -InStatement cctst basis at £1 1.8m. The Board has thosen not to indude the property at a valuation. Public benefit The Board can confirm that it has complied with the duty in Sertion 17 of the Charlties Att 2011 to have due regard to public benefit guidance as published by the Charity G)mmisslon. Significant artivitie5 undertaken durin9 the year that demonstrate public benefit are set out withln the content of this annual report. Plans for future periods The key objertives of the charity are: To recover from the impact of the Covid cri515 and become a self-sustaining enterprise. attracting 250,000 visltors p.a. by 2030. To play a pivotal role in encouragin9 young people In Wales to enter sclence and technology career5. To be regarded by companies and industry as partner of cholce for exhibitin9 their latest technology and sharing researth on a regular basis. To become a national visitor attraction fooJsed on communicating the work and relevance of the fEM sector in Wales and the no. l attraction on TrfpAdvisor in Cardiff. To be trie corporate venue of choke in Swth Wales. 13
Techniquest Annual Report & Accounts Statement of members of the Board's responsibilities The members of the Board. who are trustees and a15Q the dirertots of Technlquest for the purposes of company law. are respDn%ble for preparing the Annual Report and the flnanclal staternents in accordance with applicatye law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice), including Finandal Reporting Standard 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the directors to prepare financial statements each finanoal year which 9ive a true and falr view of the state of affairs of the charitsble company and of the Incoming resources and applicètion of resources. induding the income and expenditure. of the charitsble company for that period. In preparTrn9 triose financial statements, the Board is required to: select suitable accounting policies and then apply them con5i5tentty; observe the method5 and prinoples in the Charity SORP: make J"udgements and estimates that a reasonable and prudent; prepare the finanoal statements on the goFng concem basis unless It is inappropriate to presume that the charitable company wlll contlnue In Lwsiness. The directors are responsible for keeping proper accounting ordS whlch dixlose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguar¢Jing the assets of the charitable company and hence for tèking reasonable steps for the prevention and deiettion of fraud and other irregularities. In so far as the directors are aware: the is no relevant audit infonnation of whith the tharftab company'5 auditors are unaware- and the Board 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 infonnatson. AUDITORS Bevan 8uckiand LLP were appointed auditors for Techniquest for 2018 and future years. Approved by order of the directors and signed on rts behalf by: 8th September 2022 MrMDNash Secretarv Date 14
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Techniquest statsment of fln•nclal artl¥ltles for the yeat ended 31 Marth 2023 Totslknds Toi•l yeWto31 March 2Q2? .4S5 163.629 7.152 J21.419 96N95 163,619 7.192 3¥919 6.292 18.067 3.381 JF.5DJ 1.181.9S1 145.L 119.379 168.6S9 1.794424 I.396.7 12.446 ISFtWdts• 400.191 4Ki 177.488 1.X¢,616 1.475.D24 sw¥y$ 115m 115,J79 37.380 114J 115.37• 57,5 40(191 404194 P7L194 1.689.892 1.702.336 1305,5371 t5,55?) 11•7.903 1312.1 K•tthcon 24J11 211 R•tonellith otfuTrds.' 2251U41 4J13MJ 6.W495 IJSW2 6.872.032 To1•1 urYi•dfonb7nl J7Aa• 6.566.495
Techniquest Statement of financial activities for the year ended 31 March 2021 (comparati¥e) Tui lun&%fOr Totsl ¢urthfor¢h tht ¥Èaf to yèarlo 31 ¥• J1 2D21 2020 UnrÈstriclod R•xthctsd Ilts S¢w¢ Incoffle fro.. Donalrn¥ & LÈga rtya4in9 activ5 othwincoffle 6.292 15.067 3.301 6.292 11.067 3.3BI 265.514 ChatillbÈ allr+1$.. 811.980 2$71 2.8Dts.WO n6,077 131.279 IIB.659 25S.843 1.9.450 J7.380 2N71 iJs.etyi 4 174.634 Expenditurp OTr-. (XNer Iradin9CQ31s 12 446 12 2J2.9 ISF PTwiS10ff an.gle 1n.48e In.488 1.41*024 IOD.693 1.676.JS? 1 47S,024 37.3•J 37Y¢ 310.$33 Toial charilablp acti¥yl &475.OZ4 37. 1.U9,912 2.087.593 T¢t•l Mèllncorn• I.7.47• iJw,ozo) 37.3t• 177.488 1.702.33È lJQ5.5371 POSSJ71 2.319,B62 1.854,772 1,554.772 NtttDOYEment 92.4•3 Ap¢Qll¢i4réiw ol tyn¢s'. T4tal 5010ght IDny4rd Tr&tal funds cairied lorward 265U 852 12$2.8¢2 6872.032 6.566.495 5.017.265 6.87?.032 4.J13.65J
Techniquest Comp•Ay wo. 019S%961 crfty no. 617722 Balance sheet as at 31 March 2022 2022 2021 Not• Flxed assets: Tongible as$5 Total fiXedsets 4.5"75.891 4575191 5.029,189 5.029,189 16,093 186,193 2,170.999 1373.285 19,872 87.368 2, 193,952 2,307.192 Debtors io Cash at bank and in hand Tol•l¢uffent•$$ets Llabllltle¥: Crditors." omounts faUMvJ due wdhin on• year Plet ¢Umi ass¢ts orliabllths 392.181 1.981.104 412.900 1.888.292 Total assets kn ¢WTent laNSlles 6.556.995 6.917.481 Cie(Ittys'. AmryJnt$ I¥n9 due after nyme than one year 12 302,983 350,986 N•t ass•ts or liabiliti•s 6.254.012 6.566,495 The funds of th• ¢horlty Unrestsicted lunds 14 2,277,053 3.976.959 6.254.012 2,252.842 4.313,653 6,566,495 Restricted lunds.. 14 Tctlal fvnd5 These financial statements pages 18 to 36 Ire approved by the rnember5 of the 6oard of Drfeclors on 8th Septomtw 222 and are si9ned on their behaw by: Kat•n Harrfs DirKtor The notes on page$ 22 10 36 ftym part of these fmancol $tatem•nts.
Techniquest ¢omp•ty 01966696 1 Ch•rfty no. 617722 Cash Flow Ststement for the year ended 31 March 2022 2022 2021 R•COlI1allon ol n•t in¢¢)me lo ne¢ Cash wovldtd by op•rnting atlivltles: Nel •r0m¥ Arfiuslments for. Dewwation charges Lo$(PrOfrtI on sale of fixed assets Interest from invesbnents Movement in pro¥is Decrease in stLKks {312.4831 1305.537) 521,593 (I,(K181 (144) 280.906 12,9681 14131 1100.0001 3.779 9.571 198.8251 141.183 {20.7191 {103.1271 86.193 180.3851 Dase1(1rtrea5e) in debtOW5 (Decrease) in credrtors cash provlded by 0rating act•¥ilig8 10 StstsmgDt of cash lloy. Cash flobbs from operating 8¢tivft.' N•1 cash provided by operating •ctivii Cash flow5 trom activities.. Inte¥est from irivestrnents 86.193 86.193 180,38SI 180.3851 144 413 Proceeds from the sak Off* a$sets Capital expendrture Loan {paId) Loan received 25.701 (69,6471 1 I OC6.1241 {46,LN)31 19.986 1109.1461 1960,0241 Net cash usèd In Inws16ng •¢t•vttivs Chang• in and e4$h •qulv•lw 122.9531 11.040.4091 Cash and $h equivalents at 1 Aprd Ca$h and cash oquivalenls at 31 March 2.193.952 1170.999 3.234 36 1 2.193.952 21
Techniquest Comp•rty 01•566961Ch•rJty ft9. 617Y22 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES Basis of pr•pafation and assessment of golng concern The ffinancial ststements of the chantat4e ¢oThyny, • public benefit entty under FRS 102. have been Ffepared in accordaKe vffjth the Charrbes SORP IFRS 102)'Accwnting and Reporting by Chaiitie$'. Slatement of ReWMMed Practi aPpIAle to dribeS preparing Iheir ac¢ounts in accof¢Jance wilh the Financial Reporting Stsrklard applble in Ihe UK and Republie of Iland IFRS 102) {effe¢ll 1 January 20191.. Finawal Reporting Stsndard 102 The Finanryal ReportirvJ StaTrJard applKable in the UK and RepLknlTrc of Ireknd. aTrJ Comparue$ A¢1 2006. The [ma?1 statements havè been prepared under Ihe historical cosl cm¥enlion V•ith the exception of inveslments are InCIled at marf(et.value. Income AM iOrne reeognised in the Stenl of Finantia Adr4th"es tsr fv ehaftty has ¢rthement to thè ftmds. any perforniance condilt'ons aitxhed to the item(sl of have been met. it is probable that income be r¢eived and the amount be Measu r¢liatty. Irme from govemment and Olhèrgrant$. vthether'capitaf grants or'revenue. grants, is recognL8ed when the charity has entittement to Ihe lunds, any perforrnance condthons att•¢hed to the 9rnnts have been met. rt is wobable that the incomè will be received arKI the arTh)unt can be measwed relabty arxl 15 not deferred. Affilotton ftre income Is accounted for on an accruals basis and is reco9nised in the pertod of MeMbe1P. Income from courses 4nd conferences 15 ¢09nSed the re5perti¥e event mr5. Interest on funds hekl on deposit is incFuded vthen receivable and anY)unt can be measured lablY by charity., this is n¢¢malty upon n¢)lffi¢atK)n ofthe interest paKI or payabje by the bank. Admrssjon income 15 recognised vthèrt the visit occuts. Shop income is recognised lthen tr stw Nwchase occurs. Donalions and legacy inccxne * re¢ogThsed then re¢erwed. Expgnditure Liabililies are recognised as expenditur• as soon as there 1$ a legal or constructive obligation ¢omTrwtting the chaFtty to that expendibJre. it is probable that a transfvr of economic benefits wll b¢ requed in seWement and the of the obligation can be MeaSud reliabty. E¥pendilu is accounted for on an acuul$ basis and has been classffied under headirwjs Ihat aggre9e all cost related to the calegory. Where cosis cannot be dwectty attributed to particular headirvJs they have been allocated to ath"vrt)"es on a basis conststentwith the use offesourtÈ$. Chanlable expewtditvre ¢omprises those ¢osts incurred by the charity in the delivery of ils acti¥iltes. both costs direcuy altritrArtable and indirect support costs. Allocation and apportionment of support costs Support ¢osts are tlb)se lunctions that assist the the charty tyjt do not directty undertake charitable acts.v"t$. Support costs Indude backth costs. exhiknbon eosts and professional and ¢onsultan¢y ¢tsSis vthKh SUPFryI the Charty's acbvities. Support costs are allocated using the number of'hourty, paKI staff acfOSS the ath"vits"es.
Techniquest Cow)Any M. 01955696 1 Chiity no. 51T122 Tanglble fixed assets Depreciabon is provided at the foNov•ing anThMI rntes in to V•rile off ts¢h asset over its esb"mated useftrf life. lrnprovement$ to propeity-6.66% c41 cost Plant and machinery- 10% to 20% on $1 Fixiures and fittirKJ$- 6.66% tg 33.33% on ¢¢)St ExlMbits- 6.66% to 20% on cost Cwputer equipment. 20% 10 33.33% on cost Motor Vehicles- c05t Assets unJer ¢onstru(kn: the poly is to ca&alise oity costs directty attrxrtabk to building and developing the Science Capital. Al expendiiure 09nd at cosl and irtclude5 contraetors. ¢har9es. materia15. any dire¢lty attribulable labour and any directty attnlyjtable ovethead$. Capitalisalion ceases vknen substantialty all the a¢ti¥itE5 Ihat a ne¢e5sary to prepare asset for use are Complete. Dtrprwatton Gommences at the point of con1mercl leOyn1 ovef asset's esb"mated usefvl eConorrC lrfe. Assets ¥e roe4 and caaled on trJr4ithJal basis. Stgcks Stocks are vakd al IIE h)wofcosl a1 net realisabk vahJe. after making due alkn•Ance for obsoletè and 81(v4no¥ryng B•nk Cash at barth and cash in hand rKludes cash and short term hTrghty Iwid inveslments wth a short maturbty ol three months or less from the date 01acquisitn oropenvbg ofthedeposbtor SIMar ac%ount. Trade and other deblors are recogr4sed atthe settlement amount due after any Ir•de dTrscwnt offred. Prepayments are val at the affwrtt prpaKI net of any tvHde discounts due. . The (osts ol shrmt-temi employee benefits are recogni5ed as a liability and an e¥pens•. unl¥55 Ihose costs ar• required to be reco9nised as part 51 of sto¢k of fixed assets. The cost of ary Lmused IK>lKlay entitrement is rewwd immediatety as an •xp•nse the company is demonstrably c(XTvnitted to tenninate the emptynent ol an employee of to provHe terMi110n benefits. Tax•tion The tharity is exempt from tsx on income and gains falling TfvAthin section 505 of ihe Taxes Acl 1988 Of section 252 01 the Taxatui of Chargeal>le GaS Act 1992 to the extent thal these are appl0 to ¢haiitable obj'ects. Loans LO affj recognised a¢ the setttemenl e. 23
Techniquest nth fr19556961 Charity no. 517722 Fund acGountlng Unrestr1d funds are use at Ihe dwell of tr dKecth In rtheaftee of the 9eneral obj.ed15 ofthe ChBrty and 4thich IVe not been deswated f(Y other purposes. Designated fur9 are urtrèstri¢ted fund$ eamTrarked by the dire¢tots ft>r parbcul¥ wptsses faltin9 in fvture bme pertods. Restricted fvnds are funds 9)bl0 speafi¢ restrKbons impD5ed ty doncrfs Orh have been w¥i5ed by the charity for purposes. The aim and use of eadb restrthd 1$ set out in Ihe to lh• financ4a slatemerts. Pension Costs and other postrfelirement benefits Pensions cosls are tharged the year in vthich wemiums a payabk. Otfferers bets amounts paid and amnts cttar9ed a Inckthd in the Wan¢es sheet as provisions or prÈp8ymnts. These Contributions are inve51ed separatety from those ol chwilable company's assets. The Company participates in indu$lry w¥J$ defined ¢ontn"bulion s¢hÈme. The •tsets ofthe sehemtr are invested and managed iNlependenly of Ihe finarKes ol the Company. penSn costs are assessed in accordance Wlrth thè advtt of an iftdependent qualifitd actuary. Costs indude the fegulaf ost of provling benefftg. it is intended shoul¢J maIn a 6ubstanliaUy level percertage ofcurrenl and expected fure eamlngs ol the employees covertd. Investrnents Any investrnents are iluded in accounts * market vam. Vffre held as an orwity invesknènt they are Iruded vthin Fixed Asse15. Unrtslised gains on investrywts hekl are inthded separately from Inveslment Income under'th Recognised Gains,. The inveslment in the SubSrOr 1$ rerded at the value of the net assets on the date at vthi¢h the subsidiary rne into the 9roup. Deferred Income Deftrrreil irKorne represents NKome reived IMA ncrt eamed a5 of th• yew end. Deferred income primardy consists of income frr affiliawi fees e1ved In advan¢e of the afiliation [ld and 9ranl om. Legal Status the charity The Charity is a ¢ompany lirrated by 9uarnniee and has share ¢aital. In the event of the tharbty bng wound up, the liatlty in resFeCt ol Ihe guaraniee is fwnited to £1 per member ol Ihe thwity. Cash at bank and in hand Cash at bank and ¢ash in hand inclLKles eash. short term hKJhty liquh8 InvestntS ¥h a short maturity of three months or k55 from Ihe date of acqSitI.0n or openvw of the deposit or iimilar account and short-temi investments wrth a malunty date of one year from the date of quiMion or opening of the deposil or MIar acteunt Cfeditors and provlsl¢)n$ Credtlors and provisions are reco9ntsed where the chaiity has a present obli9atth Su114n9 from a past event that will kyObay resuh in the transfer of flS to a third party an¢J the amunt due to settle the 0t4lgaln can be measureil or esb"mated ieliabty. Creditors and proviswjns are nomally recognised at their seitlemeni amount after allwn9 ft)r any trade discounts due. The chanty only ha5 finandal assets aTrJ finanraal liabilitS of a kind thal qualfy as basK financid instruments. gasK financial Instrents are initialty re¢¢9nised at transadion value and 5ub5equentry measured at their 8etUement value wilh the exceplion of bank loans which a subsequentty measured at amorttsed cost usin9 the effective Intest Met.
Techniquest Cwi•ny no. 019656% 1 Ch4rlty no. S1T122 Going nCern The grants recwed in the pre¥ths ffinaal yearreassured Ihe dFrectors lastyearthal ihe orgarosolion remained able to meet lis fiabikties as they fell due tr a period Ihrou9h lo Septernber2022. In operabng costs were ralionalised to support a reaT. effKienl organi5aiim. In terms of urffèstrKted trading, TechnU¢$I has retumed to a sUrpS positron ts Ihe financTal year ending 3111 Mafch 2022. and management are confident U)at the apwoach taken to both operating practices, including greater emphasis on marketg and communKat¢ons. and the ffti'ng of restn$ 11 ensu that this wil conb.nue w.ng lorwards. The bud9et for 2022rd3 ShIy a sma4 operatin9 $urpJus, tAJt the caulious apWO laken to fore¢astirvJ rnakes this a realistic ftyè¢asl for the year with some consideration given to any economic wnpa¢t The charity ttas sufficient ¢a$h and reseNes to sattsfy dirtcknrsltrustees and audiloTS throuth the a55es5rnenl period ending September 2023. 15 than a pwiod of one year from the date of approv•1 of these accounts. The difectorsrtrustees are also 5atsfd that there are no other rnalerTral uncertainties related to events ty C0Th)n$ that may cast %gnfftant doubt on the abilrty ofTechniquest to continue as a going con¢em. The dire¢toTrllrustee$ trTe(ty¢ of fv wnion Ihat Ihe driY vill have $uffi¢tnt resow¢e$ to meet its liabllities a$ they fall due. Other trading a¢tivilies 31 Mwrch 2022 31 Mah 2021 Totsi Unmtiictsd Unvestritied Total Shop and café 163.629 163ffi29 18.e67 18,067 Product Sak 8nd h.re Corpora Hires 163.629 163,629 18,067 Other Income Jl Mareh 2022 Total -31 Alar¢h 2021 iJnrstritt¢d fvrlds Total Bank ¢*pDsit Nfferest Gain on disposal Other 144. 144 413 413 7.008 2.968 7.152 7.152 3.381 3.3ai
Techniquest •195fjSWI Charfty no. 517722 Charitable activities In¢ome donations and le9aues 31 31 Mah 2021 Unm5tr1cl•d loa Unr•strcled T•lal funds Reslricl•d Total Donatrons Lega(s Grants rec¢Ned 96,495 327.419 6M96 6.292 8.292 67.5) 394.919 911.980 289.971 1.101,951 bl In¢on frum other ¢haFitable actsvibes 31 IAar¢h 2022 31 Ma¥ch 2021 T•il Tolal Provision ol ofv$it¢ educaDonal S••$.. Athximions 872.839 18.451 •72.139 IB.451 Primary school oult••¢h S¥pportfr•m Lh GovernAw •IthdY arrtl p•ths 1.4C¥) ?,450 129.829 143.607 145.007 131,279 149,730 T•tsl unrnstrlcted 1.017M48 31 31 March 2021 2022 R•strict•d Proyisicfi ol on-site educats.onal sefvw". Support Tr¢ Governm•nt orp&Cau1hry1ty othBrpari Primary xhool oulreath Secondary s¢hooJ outrexh Support Welsh Grrlerrffient or P&thOrity and Ollw Panies 63.859 20 680 49.520 16.700 116.379 37.380 Total rg5tricl•d IIS.379 37.380 All donotlons and 9rants recwnlsed Ihe ha¥e been uiif6ed on £haitable artlvliS.
Techniquest C¢thpaffjT no. 01955696 1 Charfty 51T122 5 Other tradlng costs 31 lA1h 2022 Totsl 31 Marth 2021 Shop and ¢•f Product 198&hi Shop and cfé Total Waws & 138$ Malerials 57.493 16,189 76,189 n.'682 12.446 1?,446 Totsl 57.493 73,682 12.446 13,446 6 Expenditure on charitablè activitles- 2021122 Support •nd 31 f&rGh 2022 Totsi CO8t8 Urtr••tricted: On4SitÈ elyrAlional s•nTices: 858.847 444,959 1.508,648 Prov10 of off.site educalwl Otheroff4ile acli¥its Primary sch<W ouirea Olher 6.MO Tolal unr•strictrd 204142 6.1100 444,959 1.514,646 SPPort •rtd 9mmance costs 31 Mah 2022 Totsl dir•ct ¢05ts Propgrty ¢08IB Staff C1$ R•stricted: On4lt• education•1 ¥•rylu6: Admiss8 Sa•nc4 CaMal prc¥BCt Piovtsion ol off-site e<lu¢•tA)rtal 404.'194 404.194 Ot 30.237 18.7S1 Primary school tyJtsea¢h Secondary schcd outreach Totsl Tr*lvic¢wd 59.2YJ 7.141 66.391 25.092 404.194 519.573 Total 2021122 204J42 31.892 849,15J 2.034321 27
Techniquest •mp•ry no. 019556961 chIV no. 517722 Expenditure on charltable activities- 2020121 Suppgrt at)d 90vvmanco costs Other difect 31 Mar¢h 2021 Propgty costs stsff cos costs Toial UnrestriEted-. Provi%i¢n of on-¥le edLtcai seivice5.' Adm15sion5 999,212 157 417 318.3J5 1.475.024 Provision ofoff.yte eilucalKJnal sefyices.. Other offSite actiVilS PTimbry sthotrl oulteach Secondary school outaCh Total uhre$tricted 999.212 1$7.477 318,33S 1.475,024 Support and ytyvernance costs 31 Mar¢h 2021 direct Propèrty o$1¥ Stall costs costs Total Restrictett.. Provision DI on-sit2 educalional servjce5 AdmIss)n$ Science Ca13% omieci Provision tsf oll.site eaucalionl sefvices. 717.488 177.488 Olh¢r 16.700 16.70) Primary 5choc4 ltreach 4.151 16,529 30.680 Secondary schod ¢treath Total rfrstricied 4.151 33.229 177.488 214,868 Total 2020121 1.OOJ,363 157.477 33.229 495.823 t.689,492 Staff and support tosts art allocated vng the number of'hourly. paid staff who yrk across the artSvltles Support and govemance cosls 31 lA•h 2022 31 Marth 2021 ¢)ffi¢¢ Cosls 135.968 11,731 57.143 74.929 Exhibrfion costs 7.516 75.032 Pffjfe$5b)nal & 2K842 157.477 Induded in pfofesstonal & lancY costs a audit fees of £10.410 {2020r21." £11.51.
Techniquest Ctywny 01955896 1 Chi¥ty 517722 7 Directors & employees Infomiatlon al DirKto Nodirector. or perxm wilh a or $msS crnnection TAith a sr¢ctor. recebved lee18t10 directsy or Nidire¢tty. from the thwitabse CoMpy. Directors. expenses of£nil we paitl in the year {2020121". £nil). bl Efflploy•• Infonnatlon 31 threh 2022 31 A4arch 2021 average fiumber ofpersons tyth ¢ompany durirs Il yearwas as f(4kns'. AthTrinistration Opetalion81 30 37 The aggregate payfell east ¢1 kne pwstsns was as foltrs: 3t 2022 31 Marth 2021 Vdag¢$ and s¥L4 Sccml Security PensyJn cosls 845.334 867.994 78.fj07 32.329 71.964 34.658 954270 974 616 There weie redundancy or ¢thWnSaln for loss of Offi costs IYluded in t a99rÈgate payiol costs fr)r the year {2020r21.. £110,299). The compaly oper¥t¢$ a defined Contriblon pens s¢lwrn. Th pen•on ¢har9e for thp period ¢sentS contribulions payable by the (xjmpany to stheff and anUnted to £32,32912020r21'. £34,658). Employe¥ infomwtion The rtumb¢r ofwnpknyees whose enwee benefits {exdw"ng e[ pension wstsl eKethd £60,000 Hi911paid emtyoyees 31 IA*reh 2022 £f4).IXII - E70,c4)) f70.¢J01 - £80.C £80.1)01 . tg0,C The total employee benefits Itt¥ed dunng the yew of the key management perymel 0ftr charity wa$ £226.355 {2021)r21.. £219.1391.
Techniquest C•ny no. 0195561 Ct•wityno. 617722 Tangtble fixed assets Unr•strlcl•d ExhllAt• Pl•irt& FlxtrYe•. M¢or Frehdd IM•¢hln•ry frtlings & Vehfics land & equipm•Tht buildin Totb Co•t Ai beginning ¢Jl year Additb)n$ Rectassified tksposals At•nd of th• y•ar 253.840 75.724 17,172 962,018 1.308.754 34,403 35244 69,647 464.27 {45.2HI 1.797A27 464,270 B.Orn 260.171 117.1721 110.968 1N28288 D¢precl•t At begwthg ely••r 165.860 48.228 14.313 859,087 1,087.488 Chwrga foT year DisposaL% At end oftr yur 78.647 128.0721 216,435 27.495 1.507 (15.BXII 9.79) 117,399 143.8921 1.160.995 7&723 •60.837 87, 27.4 2.859 1tr2.931 221.266 Apnl 2021 Net book Wat •t 31 IAav¢h 2022 43.7 S7751 $36A32 All fixed assets are hekl for e¢l charilaue Fieehold lan¢J and buildings IndeS larkl vitth a cost 01£15,00D. Techniquesfs land and buildin9s in CardrflBay aTÈ hèld 35 prinwalty lrnwklwitha small leasehold element. The Iw)tJ and budI5 a recorded in tt accounts at Ctjst as Pernied by FRS 102. Rstrl¢t•d rittlngs At beginning of year Adkn - classifd 88 ufivEstrided 3270.812 34.532 1.674.861 4.980.CQS 1464.2701 .1464,2701 At end of the y¢ar 2MS,$42 34.532 1.674.661 4.615.735 Dppr¢ciation At begihning of ye•r 26.861 2.877 142.544 172.082 Char9È Iw ye•r At end of the È•r 65.417 92.07B 8.901 9.778 331.876 474.420 404.194 576,2Y6 Nel book value 1 April 2021 Net book valu• 31 March 2022 3,244,151 31.655 1.532.117 4.807.923 2.714J 754 1300341 3.939.459
Techniquest Coryary Th•. 01gSSU6 1 no. $17122 Stock 31 2022 37 March 2021 Fir¥shed gotsjs-sl 16.093 19.872 1'6fv53 19.872 10 Debtors 31 IA•reh 2022 31 Mar¢h 2021 Tfado debt 741772 32.471 Olherdebiors 29.6 49.838 Prppaymenls Taxo5 & Sevjriy 11.374 2.361 3.270 1.789 1J6.193 87,368 11 Credltors: Amounts falling due within one year 31 9A< 2022 31 March 2021 Trade ¢r¢ditois 1tKI.156 27.618 T&¥8th"on 8ttiil seujrity Other ¢dItOrS 15.221 17,224 Loan repayrnents 53.OOQ ACCn and deferred incoff 223.&)4 315.058 392.181 412.900 12 Creditors: Amounts falling due after more than one year 31 Mlreh 2022 3J March 2021 Interest fr88 Invest to SaTr** Loon 278.C#XJ 331.000 WCVA Loan 24.983 19.986 JOl•83 3%>.986 31
Techniquest C•rnpany no. 01955696 1 ¢h•rity no. 51T122 13 Loans Ats anatysts ofth malurty o11Tr 15 gvrnl b•lv. 31 li•rch 2022 31 M8r¢h 2021 laUiN4 year 53.W3 kniourts f•rj btheen t*x• and five years 289.983 284.986 Affiourts l•lbry duo afterffKxe than >wrs 13.LThl 66.IX)O 403.986
Techniquest COMnY 019S6696 lawiity 517722 14 Movement in funds Trwtsfevs At 1A.2021 In fthmls nds At 31.3.2022 Unr•strlct•d fur General fund L)esignated- from genefal fvnds Fixed assets Future commitments Future eapital investrnent 1.014.576 24,211 (79.166) 959.621 221.266 312,000 450,000 84,186 305,432 312.OLVJ 700.000 250.0 Future I0e9 antKipated (irKluthrYJ impa¢1 ol Covi&191 255.OC#) (25S.000) 'Unr•strictod 2352.842 24.211 2.277.053 Restrfcted funds Scien¢¢ caprtal fvnd- Fed assets 4.313.653 {374.1941 3.939.459 WCVA R•stricted ftsnds 4 313.653 3.976 959 TOTAL FUNDS 6 2S4 012 IrKomiry Re50urces Movemert Unrèstrict•d funds General fund 1.612.541 1.588.330 24,211 1.611541 1.588.330 24,211 Restricted funds Schools outreach arxl Nuffidd programme ScEnce Caal fund WCVA 115.379 30,000 37.51XI 182,879 (115.3791 1404.1941 (374.1941 37.500 {336,6941 {519.573)
Techniquest Comwny no. 0195569S I Ch•rlty no. S17722 14 Movement in funds - comparative Net Transfers movtmeni between in funds funds At 31.3.2021 Comparativés lor rno¥ement in funds At 1.4.2020 Unrestricted funds General lund Designated- from gerwal lunds Fixed Assets Future Commitments Future capital investment 1.CQ4.071 1398,0201 408.525 1,014.516 354.791 312.000 1133.5251 221.266 312.000 450,000 450.000 Fuluie losses aniicipated lirKluiJing impact of Covid-191 SGience Car*t31- working COtal 1645.000) 180.000} 255.000 80.1)00 Unfestrted funds 2.650.862 1398.0201 2.2S2.842 RestTlcied lunds Science capital fund Fixerj a$5ets Sv'enGe capital lun¢Y 3.781.3 12 439.858 1.026,611 1934.1281 4.807.923 1494.2701 Re$trtieiJ funds 4.221. 170 92.483 4.313.653 TOTAL FUNDS 6.872.032 6 $86 495 Incorr¥ng resources ResouTees expended Jvement in ld5 UrFrestri¢ted funds General fund 1.089.450 11.487,4701 {398,0201 1.089.450 11.487.470) 1398.0201 Restri¢¢ed funds Schools outreach and Nuffiekl wogramme Sciente ¢ap+tal fund 37.JBO 269.971 {37.3801 1177.4881 92.483 307.350 1214.8681 92.483
Techniquest comnY no. ICh•iity Tro. 617722 Designated reserves - unrestrlcted fvnd The main item5 Ihat h8ve been designated from ihe unrestricted general ftmd by the dwectors ao.. 1. A designated fuTrJ ot £305.432 has been alkn¢ated in resp¢¢l of the net book value of the assets. This 1[ be re¢kKed (y4er the usefvl ec(ThnK lile of the assets in line with depreoakn policy 2. AdeSnatEl lund relkn"rwJiofuture¢cthMiftts Of£312,0•sten seta5idetoen5ure suffi¢iert fund5 table to meetCOn in the unlelY evenl ofthe ¢h"arity's •¢tivrt cea$iry: 3. A designated fvnd 01 £7r,000 has been set ashle for capital Inves1Thl. includin9 refurbishment of the PLanetarAim and a woposal to ulili5e Ihe capacty provided by developing the Wst Terrnce. Restricted Funds Vthlhin restricted fimds. ¥n arnunt 01£3.939.459 has been alkted in respe¢¢ of the nel book value of the assets for the Seièn¢e Capifal Proiect. This V•ill be re(luced over the usefvl economtc Irf¢ of the a$5ets in lthe. vthth depre¢iation poly. The b¥lance of £37.500 is in respect of a grant received frixn WCVA. 15 Net Assets G•r1 Des6gAwts4 funds fvnds fvnds Tangible Assets Nel Currenl Asset8 3.939.454 37,$05 636.432 686.fJ)O 4.575,886 1.981.109 1302.9831 6.254.012 1,112,874 124.9831 Non-utfrerht Lfrabiki 1278,CrfJOI Balancts •t31 MaTth 2022 3.976,959 187.991 1.189.162 General unre8tii¢te lunds Oesi9nated uorestricted Restricfed frJnd¥ Total Tgt)9ibl8 A5sels Nel Cuirenl A$se15 4.807 923 221.266 5.029.189 1163.2701 I337.0} 729.978 1 321.W 1.888.292 Ntsn-curfeni LbilItieS 119.9861 709,992 {35D.9861 8alaiice$ at 31 Mareh 2021 4,313,6S3 1.542,850 6,566.495
Techniquest c•NY I. 919SS6961eknrity 61T122 16 Capital Commitnlents The company capital commrfments of £50.420 at 31 2022131 March 2021.. £nill. 17 Related paty transactions The Charitab company has a sub5Kary in TerQuest enie1pris LirTuled. a Mmpar)y In¢orporal England awKJ Wak5. TethKILst EnleqThes Lld 15 domwnl and is caffied at £nil valje iri these accounts. Nigel Bwba9e. hUSn ol Linda Bubba9e Te¢Amiquesfs 8usiness Ser¥ices Director. is the owner of NB Interior & Constnjctron vhNch carrd out v•iou$ repai to th¥ Valuè of £24.080. There ere no affwnts outstandin9 01 the yewend. 18 Operating Leases Tecknquest has no operatitvj lease$1202(W21 . £niD