Techniquest Company. limited by guarantee Financial statements for the year ended 31 March 2023 Company No. 01955696 Charity No. 517722 ACCIIAL# 2110912023 COMPANIES HfJJsE A07
Techniquest Contents Membets of the Board and professional advlsers .........:. .. . Annual Report . Statement of responsib'lities .... ............. . 14 Independe"nt audit¥XS' rert .................. . 15 ststement of Ffinancial ALtfvitles.................................................... 18 Balance Sheet...,.......... Statement of Cash Fltr•ts............................. . .21 Notes to the flnanclal statements.................................................. .22
Members of the Board and Professional Advisers Company registrati¢)n number 1955696 Charity nurnber 517722 Registered office Stuart Street Cardlff CFIO 58W Chlef Executlve Mrs Lesley KirkpatTick Directorsltrustees Mrs K MalS Mrs J Mortfimer Mr L Sharrna Mr D OT*Jole Mr P Pugh Mr G Stacey Mrs S Wart11e Mrs "ta Singh Mrs Amanna Giles Mrs Kelsey Barcenilla (appolnted - l# April 2022) {appointed Iolh Ortober 2022) (appointed 10th Ottober 2022) {appointed ottober 2022) Mr E J James (resigned - 24th June 2022) Secretary MrMDNash Bankers HSBC Bank plc 97 Bute Street Cardiff CFIO SNA Legal Advlsors Acuity Law 3 Assembly Square Britannia aY Cardiff Bay Cardlff CFIO 4PL Independent Auditors Bevan Buckland LLP Chartered Accountants And Statutory Auditor5 Ground Floor Cardl9an Ilouse Castle Covrt Swansea Enterprise Park Swanse SA7 9LA
Techniquest
Annual Report & Accounts
Statement by the Chair and Chlef Exe¢utlve
Foll1n9 severnl Yr$ of dlsruptlon as a mlt of the pèndemfjc. Technwest rev•ted tr• the
usual operèting schedulè in 202V23. openin9 seven dèvs a week durin9 school holldays and
Wednesday tts Sunday outside of these wods. School visits 9radually Intreased throughout the
year and pU1C ¥lsitor numbers have performed wel. Daily capacity remalns cappe
Techniquest Annual Report & Accounts Our oryani$ation Technlquest is a COTnpany Ilmited by guarantee and is a Yegistered eduutk4nal tharity committed to ensuring that Wale5 dèvelops a scienty"fically liternte society. its rrission is to anbed sclence in Welsh tture through Interactive tn9agement. The Board. who are Trustees and also DirectOTS f•r the purposes of the Companles Ac¢ present their report and the audit•d finandal statements for the year ended 31 Marth 2023. Objecthies and actlvltles ObSerts The prlnclpal objert of the company. as set In ts Memorandum of As50datlon. is to promote the advaneement of education ènd iearnlng of science, technokn9y. en9ineerin9, arts and mathematics (srEAM) and In particular to so by malntslnlng and carrylng on an exhlbltlon to explore various sclentlfic and art concepts and to encourage an awarene55 amongst the general public of STEAM In soclety whilst helplng to Inuease the acwsibillty of STEAM. The protertlon and pervatIon of the environment for the benefft of the publlc by: al The provision and mèlntenance or improvemert of a rtrntiDnal aThl educational space: or bl The pro¥islon of sorne othef amenity Our VISIO. To be the UK'$ leadlng $¢ien¢e discovery uThtre ty 2030. TechnbquÈst wlll be the UK'S leadlng science discovery cÈntrÈ. rtyarded as an exemplar of Innovative, Interactive sfEAM en9a9ement. Wa$ will be the leadlng na¥on In sclentyflc and tethnological endeavour. drlven by a sustalned Supply of young pegple enterln9 STEAM careers. supported by an outstandlng and wotlt1-leat11ng school engagement pro9ramme. Our Mlsslon: T• embed sdon¢e In Welsh Culture thrnuth interactive engagemenL Techniquest'5 aim is to Promote the a<fvancement ol educètlon and en9a9e the publlc In STEAM by establishlng pern3nent and tempornry Interacuve exhlbthns kn Wale5, together wlth supportlng educatlonal pro9rammes and a serles prograffrn for those unllkely to vtslt a pemianent exhlbition. Our Purpos We celebrate and Inspire sclentlfic and te¢hnologl(al dlsco¥erles. Artlvltles Tethniquest offers prestnter-ltd programmes for wlit visitots In ts Sciencè thÈatrt. planetafium and laboratory. It also offers a ran9e of special events Induthng TOddr days. as well as sperinc evenln9 events for adulls. During the year 127.634 ¥bYtors sited the tentre which included 23.839 puplls. Techniouest hlstorically delfvered a hl9h-quèlity putach progranm)e for schools. fviowever. during the Covld-19 pandemlc. Ttchniquest ackno¥¥ledged the need to shift to the provision of dlgltal programmes lor schools and developed exlstiTrg shows to enable these to be offered throu9h a di95ts1 plattom and 5UPPOrted by onllne teachers. 0rres. Tethniquest has a total gf 17 digltol shows to support the sclence, technology, englneer6n9 and mathematycs currlcula and durlng the year three nèw slx week programme5 were de¥eloped, ready for use from February 2023. These new pr0grarnrr5 offer multl- lrtterventlon en9agemenL providing tont?nuous support for a particular toplc over a slx week perlod. including a $rt to the centre as well as leamlng in the da5sroom. During the year 13.906 puplls and schools accessed the dl9rtal shows and this apwoach 11 coniinve in the luture as Techniquesys physlcal outreath acty¥lty wlll be Ilrdted to community engagtynent work.
Techniquest Annual Report & Accounts Technlquest runs monthly Educator sess10 and Introduced a new mernbershlp scheme In january 2023to Increase partleipaiion. The ffinandat year saw Tethnlquest wtirkin9 wlth Merthyrcounty Borough Council to SUPPOrt home e(Jucators In thls reglon 50 that familles could access a STEM enrlchment progrnmme. Technlquest was awarded a three-ytar contratt with STEM Learning Ltd to manage tea¢her< continuous t1evelopment In Wales on their behaw. Durfing the year Technlquest continued to provide CPD both vlrtually and in person and achieved a totsl of 515 days of prolesslonal development opportunities to teachtrs. 7echniquÈst contynued to manage the Nuffield Research Placement Prograrnmè In Wale5 for year 12 students. Under thts sdme. A-level students undertake research placements wlth prnctlsing restèrchers for penods of four to slx trteks rIng the surmv holbdays. To qualify for the programme. students must be first 9enerttion Univ applicants andltsr from a housèhold with an iOrne ol less than E30k. A national celebiaiion event for the 69 students that participated on the scheme in summer 2022 wès hetd in Ortober 2022. Technlque5t hosted tsyo conferences in partnershlp unlver5ities for Chemistry and Psychology students durfng 2022123. A virtual dfi$try conference was grganlsed In partnershlp wth Cardlff and Swansea Untversities in June 2022 and an on-51te psychology conferenre took F4ace in February 2023 with the sUPPOrt of Cardlff lthlvers6ty. A spedal Women In STEM day for prffw pwlls was held In 2022 aThJ attracted over 300 puixls. Tothnlquest continues to mana9e the sfEM Arr•$$ for Iliales behalf ol STEM LÈamkn9 Ltd. vthlch allows the thty to develop doser tAIth the STEM Arnbassador netwwk to enhance bts pro9rammes. Techniquest launthed Its newly refvrblshed lat)ratory th Aprll 2022. The WOTk was fvnded by the Garfield Weston Foundatlon and addlbonal fundmg from the KLA Foundation has enabled Tethnlquest to Increase the n¥mber and rnn9e ol lab sesslors. both for school and wbllc audlences. In September 2022 a new stste of the art Dl9lstsr Its plènetsrlum sy#ai) featurtn9 a 4K laser projethon system was Installed. Thls systun allows Tethniquest to engage auth.en5 with the unl¥erse in hi9h definltyon ènd to ¢ate relevart up to dète content to en9a9e audlences lor yeats to come. The system also feature5 tonknt <overbng other tOPK5 other thon 5Ce suth as biologyi themlstry and earth scien. In additn to the Continued flnand)15UPPOrt frorn the We15h Go¥ernmenL Tethnlque5t Ls ¥ery ryatefvl to the followln9 019anisaVons for their funthn9 or in-wnd support for the charity's *Ctlvities during the yèar: Admiral.. ACT Training: the Associatlon of scler Olscovery Centres: the Blackwood En9lneering Trust: Btitlsh Heart Foundation: CADW: Cardlff Metropolitsn Unlverslty: DS Smth: the Edlna Trus¢. the Glbbs CharltabFe Trust.. HLM Archlterts; Natwest: the Nlneveh Trust: Pu9h's Garden Wi4a9e.' the Aoyal Society of Chenwstry.. the ScottJ"sh Power Foundatron.. See Changers; the Simon Glbson Trust: svrs a KLA Company: Leamin9 Ltd: STFC. Stowe Family Law LLP: The Viridor & Proslert Gwyrthj Cornmunlty Fund: Wardell ArnistroThJ LiP: and the Waterloo Foundatlon.
Techniquest Annual Report & Accounts Perforniance Report Background In splte of the challen9es trought about by the pandemlc. Techn4que5Vs expendlture has 1)een well controlled o¥r the year and the financial position of the tharity at the year-end has Improved $19nificantly from previous forecasts. Durln9 the year. the Welsh Government continued to support the ch¥lty wlth a grant of £200.000. The CEO and Head of Education continue to engage with civil servants and the Education Minister to demonstrate the positive wnpatt that Techn4uest has in relation to leèrnin9 and the STEM enrfchment agenda. Tchni4uest contlnues to fotus on the imWemtntabDn of its strate9y approved in December 2020. Technlquest will contlnue to seek parinerships wlth promlnent Welsh and UK organlsatlons In the fields of STEAM (Government. charities. academia. research facilities. businesses and the arts sector). to secure sponsorship and recurrent fvndin9 contritivtiOOS in rttum for highllghting and supportlng the activities of those organisotions. Techniquest ¥¥lll also conb.nue Its community engagement work. almed at ijlversifylng and extending its audience. Durin9 the year Technlquest worked with 2,067 young people and 165 adults throygh its fvnded outreath acbvity. 8pokings for third party events picked up from the start of the financlal year as confidence in attendln9 faee-to-lace events returned post-pattdemic. Techniouest hosted a ttstal of 33 prlvate events dvfln9 the year. The Sclence Capltal Back in 2018. Te¢hniquest tjevdoped arKI submitted a successful applicatlon to the Insplrfng Sclen Fund IISF). whlch was co-funded by UK Research and Innovatson {VKRI) and the Well¢ome Trv5t to support SCIen centres across the UK rethlnk what they do antl thelr offer to the publlc. The ISF provided the charlty wlth the gpportunlty to develop an Jmbttlous proiert and assoclated vlsion entled -The Sci¢no Capital-. Thi% buts upon the prKidples of inryeasing an Indl¥idual s-sdente capltal". The £5.5m Scienee Capitsl was the realisation of Tethniquesys vision. th be the LIK'S leadlng sclen dlscovery centre. warded as an exemplar of Inftovatlve. Interactyve STEAM engagement. The Sclence Capltal pmject enaNed Technlouest to expand Its slte and has hdped the chaty bullo Its ecctnomlc res11ien and ensure that Tethniquest has a sustalnable fvt. The Sclence Capltal project provides multl-functfjonal space tsfferlng a worfd-class corporate and private Ivncvon hlre venue ènd has led to IrKreased commerdal actmty and Income as Cgvbj restrlrtlons Sn Ws Iifod. Audlen¢es Durlng the financlal year Tethniouest has welcomed 127.634 Tthslto and feedback has been pOtIve. A totsl 0123.839 wpils {primary and sttondary) have Vlslted and the digital outreach programme reathe¢l 190 sthools and a further 13.906 wpls. In addltyon. and as part of reachlng out to dder audiences. Tethnlquest hdd Its second Sclence Café pllot for over 555 In February 2023. As well as tlme on the exhlt4111)n floor and an opportuftlty to share thelr thoughts on fvture toplcs. the sesslon was supthnented talks from keynote speakers on thÈ dimate emergenry. The feedback frgm the stsYon ha5 been posiiive and Is intended tr Inform the model for the cafes 9olng forward (subject to funding). Thrtt dedlcated Adult Late sesslons were a150 held during the ye4r attractlng over 1100 adult ¥iYtors. Techniquest contlnues to offer communty engagement acb¥lty and has worked 1th 2,067 young people nd 165 adults durlng the course ol the yew 8ridgeTrl. Cardlff. Caerphilly. Merthyr Tythbl. Rhondda Cynon Taf, Swansea and Torfaen.
Techniquest Annual Report & Accounts Techn•quest Exhibition Tethnlquest alrns to cortlNe to invest In Sts e¥hlbrtlon and brlft9 new eywlertes to its eThe¢S. During the year, fournew exhlbFts orexperlenceswere Insta51ed. Thesejncluded a new exhlbbt fvnded by Natwest almed at K52 thdren. ineorporniing messages al>out protttting the environment as wtll as dlgltal and financial literacy. A new Sensory garden was treated for the we¥knusty redundant easl terrace area as well •s a new role play area lor y¢Jvnger ¢hMdren under the age of fve. The latter èllows yovn9 chlldren to enga9e in role play artivities relatlng to sfEM careers ènd artivWts. A new exhiblt developed by Cardlff Metropolitan Unlverslty wa5 also Ir6tatted during the year. The exhibit airrs to help p4Jdiences understsnd more about Flat Holrn island. Its ecok*gy arid weather patterns. uslng data collerted from the Island.
Techniquest Annual Report & Accounts Financial review The re5uIt5 for the year ending 31 March 2023 a set out In the Statement FIn¢la1 Actlvltles (SOFA) n page 18. Results Unrestricted Funds Following three years of disruption due to building works (In 2019120) and the Covld-19 pandernK { 2020121 and 2021122) Techniquest has cory>kted a IVU year wrthout disruption in 2022123. Puth"n9 Customers first and drnwln9 on the lessons learned durin9 the paftdeM recovery regardln9 controlled admisslons and delivering a quality experitnct. 2022123 has betn onè of the best perforrning year5 in the recent Ilfe of the charity. Thls can be attrlbuted a number of fartors Indvdlng an Improved undefStandin9 01 markth.ng artIty to increase admlssion numbers. an excellent service provided by customer facln9 teams, resolute management and cost control and the Increased rets and ¢ornmer¢lal actlvbty whith Is ncW makkng lull use of the b4Aldln9 facllltles now avallable. As a result. total unrethrted Incorre for the year was £2.02A.711 (2021-22: EI.612.541). an Increase of 2S% over the previous year. In recent years. actess to 9ovemmtrt grants pro¥ed to be a Mfelne for Tethnlque5t. thls year grnnt Income fell back to only the É200.000 recel¥ed from the We5sh GovemmenL This 9rant Is also awailable from the W¢15h Go¥¢mment for 2023124. Income from the provlslon of educatlonal services delive was £1.431.299 (2021-22.. £1.017.8461. an increase of 41% ¢n the prevlous year. The rernainin9 income derive41 from d911 outreach products delivered to schoo15, and from retsm Sales. cOnWneal events and rentsl IOrne. Unrestritted exptnditure for the year was £1.811.184 (2021-22: £1.588.330) which is £222.854 higher than the prevlous year. Thls Incse refflects the tynststemtnt of rvnnln9 Costs assotiated wlth the Increased trading position. and also indudes inflationary increases in Insuran and other genernl ategc•ries. as well as Increase In depreciatlon charged. Salaries hè¥e finaSed dve to èddltlonal staff beln9 employed lor the fvll year. as well as al staff receiving a pay award. wlih all stsff being paid at least the Nattonal Uvlng Wage. Re$trlcted Funds - Provlslon of school outreach educatlonal ser¥lees, the Nullleld Programm and svants recelved Ourln9 the year, £130.652 {2021122: £115.379) was recwved to SUPPOrt the provlslon of school ovtreach educ3ts.onal servlces and the Ilu114eld Prngramme. It provided support for Iree places for schools and addltlonal fvndin9 frorn the XLA Foundatlon has enawed Techniquest to InaSe the number and range of lab sesslons. both Iw sthool antl publlc audlenees. Finally. the remalnln9 25% {£12.5001 was received Irom a 9rant is5d by WCVA to SUPPOrt the develwnent of an online retall 5tQfe (2021122 £37,500). Rertrect Funds - Insplrln9 Science Fd The Chadtles SORP 2019 intome fEeognibon rteria specify that InconR 5hDuld bE recogn15ed when the following criteria a fulfiHed: entlUement is clear b.e. control o¥er the eionomit t>enefft of the grant passes to the charity: probablllty l.e. ite Is certalnty that the 9rant ¥ilN be recelpted by the tharity: measurement i.e. the amount of the grant can be measured rellabty. No fvrther Income has been received in 2022123 in respect ot thi5 pmjett. ISF Prtslect expenditure of £393.556 12021122.. £404.194) wa5 recognised on the SOFA in 2022123 and as a resuK there was a deficlt of E393.556 {2021122: deficlt £374.194). which Is Ir*duded in the restrfjrted
Techniquest Annual Report & Accounts reseThe for the Insp19 Sdence RÈstrfcted Fund. The rÈstrlrted res¢r¥e for the Inspfjrfng S¢lence Fund has been used excluslvdy ftlr the construthn projert. The Science Capital bulldln9 prnjert wa5 Cornet¢ In Au9USt 2020. and all new exl4bfjts were comrnlssioned and made reaty for use In Ortober 2020. The total transfer ¥alue of assets under onstrKtlofi to the relevènt èsset dassificatlon was £4.8m (see note 8). Totsl Funds for the year On the SOFA. there wa5 a Totst Fund5 t1ct thls r of £106.117 (2021122: £312.483). This thmwised a surplus 01 £210.527 on unresirirted funds a deficit on restri Ild5 of £316.644. Reser¥es The reserv wlky ha5 1)een developed based on the need to fftty.gate the hlghest r15k Jreas Identlfled In the Technlquest risk regter and 15 tn a rarbge of between £0.85m to £1.3m. ThnIque5V$ current level of free re5er¥es ts £1.128.292. which Is totsl resef¥es less book valye of fixed a55ets. and antlclpoted designations for future commltmts. and Is in line with the culrent reser¥e5 PDllcy. The policy has been reviewed by the Finance Oirector. dlrertors and CIWel Executlve Offtw durlng ¥¥lws Board and su Gimmittèe meetlngs. Oeslgnated refjervts - The mn Items that have been destgnated from the unrestrlrted general fvnd by the dlrertors are: 1. £474,579 has been set aside tts ere that sufficient fvnds are available to meet cornrnitrnents In the unlikdy event of the charl5 actovitts ceaslng: 2. £790.000 has been set aslde ftr futu c•tal InvestrtL to Indude: £200k lor solar pv's £115k lor phases 1&2 01 è tyecèrbonisatlon plan £iixik for new exhlbits for the retrn sKle £175k for replacement bollers & chil £200k for west terra development. 3. £110.000 has been set aside to cower optrational costs deferred from 2022.23 Restrlcted Funds Wlthin restricted funds. an amount of £3.S30.612 has been allotated In respect of the net book valve of the assets for the science Capital Projett. This wrfl bt reduced over the useful economic life of the assets In lint with dewedation pollty. Investment Poli Technlquest malntalns c baknces to 5UPPQrt eTh¢S wlky. Cash balance5 are Invested wlth fflajor bankin9 Instibjtlons to maximlse Intwest recel¥èble thIft a low-rlsk envlronment. Dlvldend The payment ol a dlvldend or any other dlstrbbulknn to mtynbws Is not pwnlitsd under the terms of Technlqyesfs merrranthjffl of Assoclation. Suppller Payment Pollcy rlng the year Techniquest Introduced a standard lode of payrrent of 30 itsys followlng the date of the Invol. The nun4)er of days. purthases outstanding •t the ye•r-end w•s 26.4 {2021122: 28.3). Tax Status Techniquest Is a re9iStered charlty and. therefore. no provislon has been made lor tsxatknr¢ 4)n Its haritable Income.
Techniquest Annual Report & Accounts . Employee$ Techniquest has been through several pe05 ofsignlficant change during the last seven years. In 2016 4 new values and behaviours meork was introduced. followed by a rn0 to Results Bosed Accountsbility. or outcome5.based working in April 2019. Th results of these thanges led to quite a drornotic shift in the culture of the organisation. which continues to recognise the trnportance of colleagues and their contributy.on to the success of the chèrity. This ythr Techniquest condutted a stsff survey and as a result ol feedback implemented a range of attn5. Induding Intrean9 the benefits vèilablt for employees. Stsff pay has been subjert to an annual revle proces5. and TethnIq$t is now attredited as a Li¥in9 Wa9e employer. The stsff received a pay aviard In April 2022 and two cost of living paymtnts have been awèrded durin9 the finèntial year. Thè Equality. Di¥rsity and fnclusron (ED&f) Working Group established in september 2021 contr.nues to meet bi-monthly. Achievements this year Include the adoptlon ol a new EDW Strnte9y. a new collaboration with Prlde Cymm to SUPPOrt the Prlde weekend in August. as well as'a dedicated team day In September which intlvded alty training from both Pride Cymru volunteers and colleagyes from Companle5 House. In addltion to developing the new strjtegy. the working group has undertaken a range ol artions aimed èt improving and advandng Tethnlqvesvs commitment to ED and Improvlng accessibility. In 2022 the charity also establlshed first employee LGgTQIA+ network. People wlth dlsabllltles Technlquest has a pollcy of encouraging the employment of people wlth disabillties whÈrèver this Is practicable and makes reasonable adjustments to worklng conditlons or to phy$6cal features of its premises where they are placed at a substsntoal d15advantage In coryèrlson llh peoplÈ who are not dlsabled.
Techniquest Annual Report & Accounts structure governance and management Governin9 document Techniouest 15 a company Ibn4ted by guarantee ar•d a re9lstered charity. Its go¥erning Otstuments are Its Memorandum and Artides of Association as èdowed t)n incorpornbon in 1986 and as subsequently amended by written resolutbon In September 2020. The charitable ¢ompany has one whomy owned subsmllary. Te¢hne$t Enterprlsts Llrnit. Th1$ ompany Is cvrreniiy dombafit bvt can be reaVated 11 ènd when it Is decided to en9a9e In sl9nificant iradin9 that falls outslde of the objerts of fv companv. Members of the Board and the companf$ •dvlsers The Board and other advisers who served the corlwny during the year. and up to th¢ date of sS9nin9. together wlth other adminlstraUve detsils ol the companyp can be found on pa9e 3. Board mernbers a appointed or removed by resolulton ol the Members of the cornpany In a General Meetlng. Board mernbers retlre by rotstyon at the Annual General Meetlng and may be relected. The Board has been constituted so that finance, te9al. education ènd technology Ildds. local entpreneUr$ and tommvnitie5 are well represented. New member5 under90 an indurtion prowarnff to ensure that they a acquairtted th all aspects of the or9•nisation indudmw an opportunity to meet key ernployees. In addltlon. they are fully brIed thebr legal obligatlons under tharity and company law. The Btsard is responble for the tompany'5 Strète9y ènd poltcy frarnewvrk. Board nlngs arè held at least quarterty and the is a Sete sub-cOn¥ttee coverin9 finance and audit. The Board has adopted the Charity Gtsvernan Code (for lar9er thar6ts) whkh sets out se¥en prlndples and recommended prnrtice lor 9ood governance. It is intended to be used as a tontinuous improvemtnt tool. supporting the GOvernae Policy that èlrejdy exlsts. Tethnlquest is atready adhetrlng to most of the code and produced a plan a9ainst those areas of recommended practice that were not bein9 lully cornpiied wrth. uslng the-apply or explaln- apprgach recoffthywided withln the code. The Board has overall re5pJn51b65ity for ensurkng that the conwany ho5 approwlate sysierns of controls, financlal and otherwise. fv Chief Executlve Officer {CEO) advlses the Board on strategic Issues and mèna9E5 doy-to-day oTationS with certain reStrin5. The CEO appoints certaln senlor executlves tg the wlor management wblch rneets lormally on a weekly basls. Rlsk management The Board has reSpOrbIlIty for the form)5 rt5k mana9ernent proce55 and regularfy revbews thè current 5ks the charity faces and the controls In ace tc miti9ate these risks. The Leadershlp Team malntains and monitors an up-to-date rfsk re9iSter prioritised In tum5 of potenal Imtt and Ilkellhtsod of occurren. 1 rfjsks vthin the sk rwster a re4iewed re9ulavly by the Audit & Finance Committee then shèred wlth tr Board. The Board seeks to n[mIse levels of k vtherever possiblt but ac*nowledps that some rbsk Is unavoidable when operob.ng withln ts thosen envlronment. The wlster has been re¥lewed and revlsed to all9n with Techniouesys new strnte9y and six sirnte9it themes of: admission5: marketin9 and PK. ojstomer experience: events and rthil: sInesS devebtsprt: and edutation devebopment. B¥lldi Techniouesvs land and builthn9s In Cardiff Bay ère held Pfindpally freehold wlth a smoll leasehold element. The land and buildlngs are recorded In the finanoal statewts at cost. The land and bvlldlngs ere la ¥aled ot ip August 2020 by an independent professional firm of Chartered 5urveyor5 on re-lnstatement cost bags at £11.8m. The Board h4$ dwsen not to Indude the property at a valuatlon.
Techniquest Annual Report & Accounts Publi¢ benef•t The Board can confirm that * has corliplied with the duty In Sectlon 17 of the Charitie5 Art 2011 to have due regard to public benefit guidance ès published by the Charlty Cornmission. SignifKant artivities undertaken during the ye4r that demonstrate public benefit are set L)Ut wlthln the content of this annual report. Plans for future periods Yhe key objertlves of the tharity are.. To contlnue to. build the chèrity's resillence and secure r*w opportunities for Incre)n9 Income to ensure it has a sustsinable future. To play a plvotal role iri encouragirwJ youn9 peopfe In Wales to enter SCIen and ttthnolo9y careers. To be regarded by cornpanie5 and Sndu5try as the partner ol Ch(e lor exhlbltlng th latest tethnology ènd innovation as well ès sharing research a regular basts. To become a national sItOr attractoon locysed on communicating the work and relevance of the STEAM sector In Wales and the no. l attrnrtion on Tripthlsor In Cardlff. To be the corporate venue of thoice In South Wale5. 13
Techniquest Annual Report & Accounts ststement of members of the Board's responslbllltles The Memb of the Boanl. are tru#ees and also the directors of Techniquest lor th w4xses of company law. are responsible forpreparing the Annual Reportand ihe financial statements In accordance wlth applicable law and Unlted Kin9dom Accountyng Stsndards (United Kingdom Ga)erally Accepte Accountr"ng Pract4cel, induding Financial keporting Standard 102 Tr FInanCal Reportlng Standard •ppllc•tye In the UK and Rewbll¢ of Ireland-. Company lavi wulres the directors to Prepa financial statements for eath financlal year which give a true and fair eW of the 5tète of affair5 of the tharitable company and ol the irncoming resources and p1¢atIOn of resources, indudlng the income and experK1ire. of the tharitable company for that period. In preparing those financièl statmtnts. tr Board is required to: Select suliable accounting policies and then apply them consistently. observe the method5 and princlple5 In the Charity 50RP: make lud9ements and esbmates that a reasonable and prudent: prepar¢ the firiènoal statements on the going tontem basis unless it is knapproprlate to presume that the tharitable company will continue in bulness. The dlrettors are responslble for keeplng proper accountlhg recorts whlch dlsdose wSth reasonable accuracy at any tlme the Thnanual pos6On of the tharltable company and to enable them to ensurè that the financial stattments coMY vAth thè CompaniesAct 2006.They are also spOnsible lor safe9uardln9 the assets ol the charftable company and hence for taking reasonable stÈps for the preventlon and detection of fraud and other irre9vfaritle In so far as the dirtttors art aware: there is no relevant alit infomiatlon of which the charltable Cofnpany's audltors are unaware: and the Btsord have tsken all steps thèt they ought to have tsken t• make themselves aware of any relevant audit Infomtion and to establish that the audthrs are awa of that infrrmath)n. AUDITORS Btvan Buckland LLP wv¢ oppointed audknr5 for Tethniquest for 2018 and firture years. Approved by grts gf the threttors and Signed on its behalf by: 7th September 2023 Mrm Sec 14
Techniquest Annual Report & Accounts Ind•p¢ndent audltorfs reportto the members and trust••s of Technlquest Oplnloft We hab audited the 5tat8mwts OfTe(thqS111 th•rd ¢trfportyl forthe Ye¥d 31 March notes to ilfin¥ficoistaltnnts. iftdudiffj • swThn¥ry of$vJnthcantact4tiry Fdicaes. The finarKial reporting thal ha5 teen apF4d in Ihey pwEparatK o "rable UnW ngdOM A(cn11ra StrndaS. irtdwjg Firwncial Reportmg s1¥th 102.. The Financaal Repyw Slarthrd ITr Ihe UK In ow Ilx ffnarKial slat•Th: gve a Inr and lawvrw oltr si of Ihe ¢h•ibtsbk cc¢rws affaws a5 at 31 Marth 2023 arwj ol i easlg for opknio th)ndj Ouf at IA InrnaiioMI A1¥> IUKI IV6As (UKII aw)Ikaty• law. Ihrre8PM5foilths underthose 5tsrul•ds arn kn¢JE5Uited IA tt Alxjils R$pon$ibititiesforthe8ud ol the finafttyal st#rrtnts secbm orL •re K•Jepwdent d the cilatle clynpany accordaii¢• vth the 8t81 rwwrenrts thal are rm a11 of tr Stan M Ihe UK I11J Ihg FRC'S Etro¢al Str%. and * have OlPr ethical lasponshS in acxfdarKt th0$9 reqwremerts. belie% that the aLIit een haby ¢biaMd SLrfKAt d oppropriale to VOVKle basis ouropmiion. Coftelusbons rnladng kn 90th9 eoTre•m We havo nothing ts rw in rf¥¢¢ fokntiYJ mavgrs in tion lo t1h the I&As IUK} reqwre u5 Its Ihe kntstees h•¥e nDt4sc1xedthe fThrK4al stslerrwts any maitrrkilufi¢¢rtaintiÈ$ Ihat may ¢a$l 5onifi¢ant deubl ab1 the akn.lty to £te lo adLVt th¢ 9oMig ¢or¢m b•w of aulhorised loris3. th8 an11 rewrt other Ihan tr statvrnnts •nd aLKuiorf$ reFrf thewn. I1 opinion on the an¢ial slatety daes cover the Olh8rirrfonrthon aTrJ. exfpt to Il extsntotlknN ¢¥pli¢Atr st#ted In kwdge obtsind in tr or OtheISe appear6 10 ff#55tatsd. ¥ w• pjenbfy such mai•ri•l IncOls1errn5 or warent material Thx551•lwrvrf5. •ro requ¥ed to determi whelher thwe 8 malerial the fThrthl stalemerts i¥ a mrial mtss1atwt of the other 1nforrnaon. M. b•sed Oplnlons oth•r fflatl•r8 pre8cred by th• Cofflpan•H 20 In ourothityi. bosed On IITAth wthrtaken in tr Ihe tr the ifttsiÉes' leFOXt IAiewts"ng Ihe dN•clNs' reF4)rt1 finand#ly•at f whith finanoal staterr•nts are sY•pwvd 15 ¢•rt¥Ot& ¥ribl trfinantial ststements.. and 15
Techniquest
Annual Report & Accounts
Ilaf&)rt on w• •m mqulrod lo v•p(¥tby
In thè IWI of Ihe krvwthae 8TrJ UrwJer5IVj ol the ¢hwAabl& ¢<Tpany aTrJ lis arwffopffienl ¢btsirJ in
We h•¥enolhiTrJtorewtin re5peeioflheldb>4m•iiern iirtthtK>nio¥trhtsCrynreJPAa 2fthwuKei
us lo report rf. in ourlww."
ofthe fmancia15tstem•ts ar¥tfor saliswthattygwa tn aJ¥J fa¢r¥ww. and forSh teMal co[101
mBstaterrnrbL t1herth to fr•Jd w 8llU.
In preporirrfJlh¢ $tswts. th tyus¢s Ih•¢haril¢ ¢
Techniquest Annual Report & Accounts operns . low.rvj ¢)rtkn¢ ar•J ¢t)n$ that had a dvEci•ffect the FiMno•l Slaiernefits ot tw hod a fvftd¥rnthi fle¢t &i tr¢ ¢peratiO of the charrtabk c(ryany. tre ley hws 8TrJ Audtt Wome io Asks hlenlDII In addition to the al. w procduTrs to ID vJen¥fivd wdId f¢knry"rYJ.' s., ar#1 aL%o Commle0 thant tylened la% •rbJ pOkr4i•lfra1 lo all engagnI team mwrt•5 WKI rtyn•wwd aknvl Iv ary iTrYKaAt offwj ilh laws arKI regulations throughoul A hjrther of our res[75 lor the of the 41 51aivrtnts is bxotrd on the Fffian¢Kg1 Rep)tkng Cr$ b> •i Th¢ lorn part ol our U8• ol rnport r•ptyi m•d sdryty 10 fv th•rthb c£ffipaAWs menws. as a btsty. tn ateoTdance with Chapter 3 01 Part 16ofll C¢ynpanieskl 21K6. Our aUdrtw0 ha5been urxrtakem soth¥twe m4hl Sthte totr charitabl8 tyry•rfs we e wuired to siale to Ihem in an auditorfs and for no othef puw•. To the fulknl extsnt penTMtted ty lv. we do It atrept IY 4S$4fft w$ts"4ty to •))ne than the thaniable ¢<¥thpart$ •$ • body, t ow for or for the OF¥n)ns we h AW Iserucrf StaiLrtory A3 and on behaff of 8evan WlaThl LLP GmurJ Fkxi Casle Cwrt Swansea Entse Pa SA7 9LA 17
Techniquest F¥r4 31 Il•rth 2023 2021 DDnatiDn5 & Le90e5 Other trnn9 a(tivthS 54312 32501 8.239 W12 96.495 163,629 7,153 394.919 872.839 Gr4nts rKwveJ alone 1,143.647 &24)7 187,6$2 IYJ.652 260.386 Totsl 02¥711 144152 1.79Sh Éxp•ndlluw• •M: 147.202 i•YJ02 73.681 ISF Expendur• 3>3556 404.194 1.663.982 1SW648 PrOviskniofOff- Edu0• 5eMces 66240 115.379 3*3.S 393.5 (J93.$56) {1S.2•X) 14W47) 1123.778 270.9•) 2,034.211 2,107,903 (312.483) ToL•l IMII.184 210.527 1¥.391 225Jll8 240 (lo117) (3114a3) 1,277.053 xsowi 37.50D 3.939.45• Sxlisll 0.254.012 14?W5 6.566.495 6.254,012 T•ial ¢arthd l•ThJard
Technlquest Statement of flnandal actlTAtl•s for the ytsr ended 31 2022 (tomparatlve) thE Yew to y••rw ji March 31 Ilarth 2OIZ 2021 Incorne frorn: 96A95 163.629 7,152 327,419 A?2]9 6.292 18,067 3.3BI OthertWln9 a(e$ 7.152 394.>19 Grafflts 1.181.951 18A51 ¢f on.sts•yy¢4uon Prtivhn ¢toff-Siteethxouon 5etvts I457 115,379 16B.659 T•tal ISU79 &795A2• I.39601 oth tosts 73,6B2 12.446 ISF eApenthre Grants awarded 401.194 194 177.4B I,S(.648 1.4?5.024 Provbsknn ololF.sè ser¥e5 115.379 115J7• 37.380 TDtal tharita I[tre$ $1454• S••,330 lJ5.m Jis 37JOO 37.500 40•.194 1.68Ym2 Tt•i 1.702.3 (305.5371 I5,537} N•t bTrcoM• (371.194) {37IX94) II•i bpfvnd• 2*211 Tatal bJnth fvrna 2251J42 277m3 4a13.653 6.872.0)Z 6.$66.49S
?.s
Technlquest n#. OI•SS696 1 Charlty no. 517722 Balance sheet as at 31 March 2023 2023 rix•d ass•ts: Intangible a Tangible assets Tot•1 fix•d •#sets 63.248 4.230,055 4.293.303 4.575,891 4.575.891 Cuvvent assets: Stock io 37.747 164,227 1.600.000 645.976 1447.950 16.093 186.193 Debtors li Currént asset Investments Cash at bank and kn haftd 12 2.170,999 2.373.285 Totsl ¢wreol assets Llabllltles: Creditors: amounts lalling the wAthin gne year Net ¢urrent •sfjets 13 368,358 2.079,592 392.181 1.981.104 Tatal assets le55 ¢urrent Nabllltles 6.37295 6.556.995 Credltots: Amourrts fallln9 d after more than vne year 14 225.000 30Z,983 Net assets w Ilabilities 6.147,895_ 6.254,012 The funds of the drIty Unrtstricted funds Restrirted funds.. 16 2.502.871 3 645.024 6.147.895 2.277.053 3.976,959 6.254,012 16 Total lunds These financial Staternts on p)ge$ 18 to 38 *ere approved by the memkn of the Board of DSrertors on P Serteth 2023 and are Signed on thdr behalf by.. Karen Harrls Director The notes on py 22 to 38 fr•rm part of these finarKlal strtemthts.
Techniquest Comwiy no. 01955696 1 Chatrir¥ $17722 Cash Flow Statement for the year ended 31 March 2023 2023 2022 Re¢•ndllatloTh of net Income to vt ush provided by operating activities: Nei Inrorne 1106.1171 (312,4831 Adjustments for: Depreciation charges Lossllprofitl on sale of fixed assets 434.211 2,664 (10.903) 521.593 17,008) (144) Movement In provisions Ilncreaselldecrease in stocks Decrease/lintreasel in debtors (oe(0Se) in credit¢)rs Ilet cash provlded by operatlng activltles io {21.6S4) 21.966 123.828) 296,349 3.779 {98.825) (20,7191 86.193 li 13 Stslemen¢ of cash li. Cash flows from operating activrttes: Met cash pmided by operntin9 •¢ll¥llle Cash flows fr¢)m Investing artwltfies: Current asset inve5trn*its Interest from inveStmts Proceeds from the sale ol fixed assets Cawtal expenditure Loan {repaid) Loan received 296,349 66.193 12 {1.600,000) 10.903 12.672 (166.964) {77,9831 144 8.360 169.6471 148.0031 Ilet used In Investkn9 artlvltles (1,82L372) (109,146) Ch•ng• ith ¢•sh and cash equlvahnts (1.52S.023) {22.9531 Cash and cash equi¥alents at l Awil C•$h and cash equivalents at 31 Mav 2,170.999 645.976 2.193.952 2.170,999 21
Techniquest NOTES TO THE ACCOUNTS C•mwy h•. 01955696 1 awlty Tro. 517722 ACCOUNTING POUCIES Basis ol preparatlon and assessment of going concern The flnandal statements of the tharitable company. whlth Is ) publk benefft entlty under FRS 102. have been prepared In accordance with the Charitle5 SORP {FRS 102) 'Accountlng and Reportlng by Charstles: Statement ol Recommended Practke applScable to charits preparfng thdr accounts In accordance wlth the Flnanoal Rewyng Stsndard applKaNe In the UK and Republlc of Iand Ifks 102) leffettive l January 2019}'. Financbal ArtIng Standard 102 The Finandal Reportin9 Standard appllcable In the UK and Aepu141c of Irdand, and the coMnIeS Act 2006. The financlal statements have been prepared under thè hlstorlcal cost Convenoft wlth the exceptkin of Investments wNth are Induded at market Wal. Golng concem Technlquest returned to è profltable tradlng posltfjon In 2021122 follon9 the Ilfting of Covld-19 restrlrtlons. A breakeven budget was set for 2022133 based on a reallsuc assessment of Income and expenditu as knovm In Marth 2022. and forecasting contjnues to be cautlous based on the rlsks Identlfied and In partlcular the potential Impart c the ongolng c05t of Ilvlng crlsi5. However. because of tsght control of costs together a mLKh better than antidpated number of admissions. a unrestrfcted tradin9 sUv5 of £223.027 has been achiev in 2022123. This includes the costs of a fvrther rationalrsation of stsff which was necessary io sale9uard the operatlonal requlrements In the medium term. . The chaty has suffioent cash and reserves t• 5aWy both dlrertorsltrustees and Judltors through the a55e55ment ptriod ending September 2024. flthxh is more than a period Lrf one year from the date of approval of these a¢¢ounts. The dirtttorsltrustees are al> satlsfied that there art no other mèterièl uncertainties related to events or coNtions that mèy cast signlficant doubt on the èblllty ol Techniouesi to continue as a 90in9 eoncem. The dIrertOtTusteeS are therefore of the QF4nSon that the tharity wlll have 5uffident resour to meet its liabilitits as they fèll due. Income JI Income Is recognlsed In the Statent of Fffjancial N£tsthtyes once the charfty has entitlement to the fund5. any perfornwnce condttions attathed to the item(s} of Income have been met, It 15 probable that the Inci)me will be received and the amount can be measured rellably. Income from government and other grants. whether 'capital' grants or're¥enue' grants. Is recogn15ed when the harity has entitlement to rhe fvnds. any performance condlvons attached to the gTrnts have been mer * bs probable that the income wlll be recelved and the amount can be measured rellably and is not deferred. AffillaYon fee Income b atcgwted for w an attruals basfis and Is recggn15ed In the perlod of membershlp. Income from courses and conferences Is reco9nised when the respertlve event occur5. Interest on fvnds hdd deposlt Is Induded when recelvable and the amount can be measured rellably by the charlty: this Is nom)ally upon notification ol the interest pald or payable by the bank. Admi55i9n Income 15 recogni5ed when the wit occur5. Shgp Inc¢Jme 15 recognlsed when the shop purthase ocoJrs. ()onaikns and le9acy Ineoff os recognlsed when recdved.
Techniquest
No. •1gSSW I Ch•rlty n•. SIY7>>
Expenditure
Liabilitie5 are recognised as expenditure as soon as there ts a Fegal or construrtÉve obll9aVon
committin9 the charity to that expen(bture. it is probable that a transltr of economic benefits will be
reqiiired in Settlemert and the aryb)unt of the obli9ation can bt measured reliably. Expenditure is
accounted for on an accruals basis and has been dassified under headin9S that a99re9ate all cost
related to the category. Where costs cannot be dirertly aitrtbuted to particular headings they have
been allocèted to activities a IJa5is consistent with the use of r¢sources. Ch•ritsble expenditure
compylses those costs incurred by the ch•rity n the delivery of its activibes. both costs dirertly
attributable and indlrect support costs.
Allocation and apportionmert of support costs
Support costs a those funrtlons that asslst the wk of the charity but do not d1CtlY yndertake
charitable artlvities. Support Costs indude bad¢-oifice costs. exhibition costs and professional and
consultsncy costs whith supp¢trt the Charity's artlvities. Support costs are alocated usln9 the
number of'hourty. paid Staff ¥¥ho work acr055 the acty"vityes.
Intanglble fixed assets
Intsn9ible fixed assets are arrKJrt15ed o¥er S years in order to write off each asset over *$
estlm)ted useful economlc life.
Gipitalisation ceases when substantially all the actsvities that are necessary to prepa the asset for
use are complete. Depreciation commence5 at the point of Cornnra01
Technlquest
¢•wy 019556M I Chwlty M. 517722
Current assrt investmerts
Current asset Investments are Investments whlth Techniquest hdds for resale or ptndln9 thelr
Sa and cash or cash equivalents a matur6ty date of less than orne yeav. Thls headln9
Includes cash on ¢Jeposit and &ish equlvalents with a matufity of less than one year held for
negll9lble rlsk Investment purp05Ès rather than to meet 5hort-t¢nn tash commltffnts as they fall
due.
The Charlty has thosen to adopt FRS 102. Secrion 11 Baslc Fornal Instruments and 12 Other
Flnanclal Instwments Issues of FRS 102 In respert of financkil Instrunnts.
All financlal assets lialmliiies are Initi measuwed at tTansactlon price. irKluthn9 trnnsaction
costs. except for those finantial assets dasslfied èt fair Value throu9h prtsfft or h)ss. which are Initièlly
measured at falr value lat trnnsaction price exdUdi[ tvansaction costs) unless the arrangement
conSt¢te$ a financing trnnsartion.
Flnancial assets and fintlI Ilabmittes ère Mly offset In the Grnup balance 5iieet when. and only
when. there 15 a legally enftrceabfe rlght to set off the recognlse
Techniquest C•mpany 01955696 1 Ch•rlty 51?n2 Other Loans Loans are recognised at the settierrnt arnot due. Deferred Income Deferred income pents income recelved iwt not earned as of the year end. Delerred income prtmadly consists of incofr for off14tn fees rK•ved in advance ol the affiliation period and grant Incoww. Employment benefits The costs of short-terni employee benefits are recognlsed 0$ a liabillty and an expense. unless thosè costs are required to be 09Th1sed as part of the c05t of stod¢ of fixed a55ets. The cost of any unused holi<Yay entitlement Is recogftwd Immedl•tely a5 an expense then the ompany is demonstrably cgmmitted to terte the employment of an employee or to prtsde iern¥nation benefits. Taxation The charity 15 exempt from tax on income and gains fallln9 Wrthln seciion SOS of the Taxes Act 1988 or sertlon 252 of the Taxatk)n of Char9eable Galns Art 1992 to the extent thot these arè applied t Its tharitatAe object5. Fund accountlng Vnrestricted funds area¥ailable for use althe <liscrttion of the direttors in fvrtheranee ofthe general objectives of the Charity and whlch have not been deswjnated for other purposes. Designated funds are unrestricted funds earrnark by the thrtrtors lor particulw purposes falllng in futu time periods. Restrirted fvnd5 are fvnds subjert to specific rtstricbons irnposed by donors or v¥hich have been raised by the charity for partscular purposes. The •im and vse of tach restrirted fvnd Is set out in the notes to thè financial statements. Pensionscosts are ¢har9ed in the year in whlch prerni¥rns are payable. Olfference5 between amounts paid and amounts tharyed are Induded in the balances sheet è5 provlslons or prepayments. These contrlbutyons are Invested separnteiy from th1 of the tharitable corny.5 assets. The Company parkncipates in the industy wide defined c¢)ntribution PenSn scheme. The assets of the scheme are Invested and managed Independently of the finanS of the Company. Pension costs are assessed in accordance with the advite of an Independent qualbfied artuary. Costs nde the regular cost ol provldlng benefits. whith Yt Is Intended should remain a 5ub5tanbally level ptrtenta9e f Current and experted fvture earn9$ d the empk+yees covered. Legal Status of the ch•rity The Charity is a company limrfted by guarantee and has no share capital. En the event of the tharity belng wound up. the liabdlty in Pert of the guarantee 4$ limited to £1 per mtmlxr of Iht charity.
Techniquest Other trading artiv•ties 01955690 1 517712 31 31 March 2022 Total 2023 Unrestricted T•l•l fvnds Shop and calé 229.231 229.231 163.629 163.629 Corporate Hires 96,630 325.861 96.630 325.861 163,629 163.629 Other Income 31 W•r¢h 31 March 2022 Total fvnds Bank deposlt Interest (Lo5s)IGaln on di5POsal 10.903 {2.664) 10,903 {1664) 144 144 7.006 8.239 4239 7.IS2 7,152 Charltable activities Inc0Th donataon5 and le9tties 31 Mavrh 2023 Unrtstrtcted Restrkted Total funds 31 Mah 2022 Tota fund Donatlons and Le9ades Grants recel¥ed 56.312 200,000 56?12 212.500 96.495 327.419 96.49S 394,919 12.$00 67.500
Technlquest C•wy nty. OI•S5696 1 Charfty n•. 517722 b) Income l¥om othertharitsble actlvities 31 March 2023 Total 31 Marth 2022 Total ithrestrirted Provlsion of on-site eduCaonal ser¥lces: Admlssions 1.243.647 872.839 Support from W*h Government or publbc authorty and other parues 1,243.647 872.839 Provislon of off-slte edu¢atyonal servl¢es: Primary sthool outreach Support from Welsh G0Mment or pJblic •uthorty and other parties 2.550 185.102 187,652 X.431,299 1.400 143.607 145.007 Total uthrtstri¢t•d 1.017,846 31 31 2023 2022 Restrieted Provlsion of on-slte educètionèl ser¥4ces: Support Irom We15h Go¥emment or publlc author6ty other part Provlslw of off-slte educational servicts: Prlrnary school outreath Secondary school outreath Support Irom Welsh Government or wblt authorty and other part6es 63,859 2.000 49.520 115.379 115.379 3,000 127.652 130.652 130,652 Total re5trl¢ted All donaty.ons and wants e091$ed durln9 the year have been utmlsed on tharltable acuvitles. 5 Other trading costs 31 March 2023 Total 31 March 2022 Total Shop and afé Shop and Othtr Materfrals 96.230 96.230 50.972 50.972 147.202 57.493 57.493 16.189 73.682 73.682 Total 147.202 16.189 27
Techniquest 0195S696 1 Charlty n•. 517722 6 Expendlture on charltable actlvities - 2022123 Other dirert and 31 March 2023 Unrestrlcted: Orbvsite edycatlon•l se•¥lces: Admissions I.02938 278.379 355.765 1.663.982 To¢al Ynrestrlc 1.029W3• 278.379 355,765 L663.982 Support Other direct 31 March 2023 Total Proixrty onl¢t educatlonal S¢ienct Caral prtJ¢rt 393.556 393.556 21.217 24.937 20.086 41.303 24,937 pMary school Outrch Secondary sthooj outw¢h Total restrkted 46.154 20,086 393,556 459,796 Totsl 2022123 1.075.991 274379 20.086 749,321 l123.778 Expenditure on ¢har•tabl• artivities - 2021122 rAher dire¢t nd 31 Marth 2022 Total Prowty ¢o$ts Unrestrlcted.. OTrsit¢ eduutloD•l serykes. Admts51w5 Other off.slte athv6tles 858.847 204.842 444.9S9 1.508.648 Primary school outreath Other 6.000 6.000 6.000 444,959 1.SJ4.648 Total ufirtslricted 858.847 204.842
Techniquest Company n•. OX955696 l Charlty 51??22 Support Other d•Tect 31 14arch 2022 Total Staff •overnance Property On4te edu¢atlonal ser¥ias: Adrnissions 5ciente Capltsl projert Provlslon of off-slte educatSonal servlces.. 404.194 404.194 Other 30.237 59.250 18.751 7,141 48,988 66,391 Prfmary school outreath Secondary sthool outreach Totsl restri¢ted 89,487 25,892 404,194 S19.573 Total 2021122 948.334 104W2 849,153 1034,221 Staff and support costs are allocated using the number of'ho. pald staff who across thè attivitles Support and governan Costs 31 March 202J 31 March 2022 Office costs Exhibition costs 172.000 22,705 83.674 135,968 11,731 57,143 Professlonal & consultancy costs 278.379 204,842 Induded in proftssional & Consul¢¥ Costs are audlt fees of £10.950 (2021122.. £10.410).
Techniquest C•ryy M. ¢+1•5$696 1 Chwlty ng. 517722 Directors & employees infornwtlon } Dlrectors No dlrertor. or person with a family w busness connectbon wth a director. recelved ranurwatlon dlrectly ¢r indirfftlyi from the charitatAe compony. Dlrectors. expthses of £nil were ld kn the year (2021122.. £nil). b) Employee intorntIOft 31 March 2023 31 March 2022 . The average of persons employed by the company durtn9 thè ytar was as foN<>w5: Management Administration Operational 27 26 33 The a99wate payroll cost of these per was a5 lollows: 31 MarL 2023 31 Marth 2022 Wages and salèrSes Soclal securlty costs Penslon costs 958M62 83.290 34,216 1.075.968 78.607 32.329 956,270 ReddèneY costs of £5.873 are Induded In the ag9re9ate payrnll costs lor the year (2021122.. Énll). The tompany operates a defirbed iontrll)utlM scheme. The pSlOn charge for the perlod represents contrlbutlons payable by the conwny to the scheme and amounted to £34.216 (2021122: £32,329). Employee InfornOn Thè number of employees wlw empknyee (excluding employer pthsion costs) exceeded £60.000 ¥Yas'. Highest pald employees 31 M•t¢h 2023 31 Marth 202Z 60.001 - £70.000 É70.001- £80,000 £80.001 - £90.000 The total employee benefits recdved dur the year of the managerrt personnel ofthe charity was E235.617 {2021122: £226,335).
Techniquest COMnY Tho. 01955696 1 no. 517722 Intsnglble flxed assets software DelOPMent 2022-23 Total Software Development 2021-22 Totsj 2022-23 2021.22 Cost At begiTrThFng •f ve•r Additions Redass1fd Dlsposals At end of Ihe ye• 63.248 63,248 63.248 63.Z48 Amortlsatio At beginning of year Char9e tof year Dis sa15 At end of the year Net book value at l April 2022 Net book valu• at 31 2023 63.248 63.248 additions made in the year include an inveStsTrt of £52.348 in a new CRM system, and £10.900 n de¥eloplng and Improving the conwany's Tmtbsite. These softwart d¥ekprnents werè stlll being develèped at the year end. and therefore no am05110Th was <haryed fft the year. 31
Techniquest Tangib"le fixed assets Unrestrfrteo Exhibits C•rnwTry Ho. 111955696 1 Chartty Sl7722 Pl•nt & FIX¢$ & Il•ciilnery Flttkn95 F.reehold lènd.& Iwlldlngs T•tsl At be9lnnln9 01 260.171 110.968 1.426.288 1.797.427 Addltlons Reclassified Dlsposèls Aten 71.442 7.709 24.565 103.716 {30) {30) eyea 33 1,113 Depreuation At bE9lnnlng of year 216.435 75.723 868.837 I.J60.99S Char9e fDr year Dlsposats ten 15.569 773 5.024 19.308 40.674 e year 773 47 70 Net book value at I,Aprll 2022 Net l>ook value at 31 March 2013 43.736 35.245 577.451 636.432 6.936 54.786 538.111 699h43 Bulldlngs Flxtures & r•tt•n Exhobits Total At beglnnlng of Year Addltlons obspots Adjustment 2.806,$42 34.532 1.674.661 4.515.735 127.063) (41 127.063) 30 34 year 34, Depr At be9knnlng of year Charge lor year Dlsposals 92.078 9.7n 474.420 576.276 56.132 330.518 111.727) 15 393.S56 {11,727) 15 -ATrend•iit 00 l ilprll 2022 Met book ¥alue at 31 2023 ear 1.200,241rn9.459 2.658.367 17W2 854.384 . 3.$30.612 All fixed assets are held for dlrert chadtatle wrposes. Freehold land.and buldkngs lttludes land wlth a cost 01 £15.000. Tethniquest's land and buildings In Cardiif Bay are held as prlnclpally freetriold with a small leasehold elemenL The land and bulth.ngs are recorded In the attounts at tost as perrnlited by FRS 102.
Techniquest 10 Stock n•. 019SS696 1 Ch•rity n•. 517722 31 14•wth 2013 31 March 2022 Finished good5 - $IP 37.747 16.093 37,747 16.093 11 Debtors 31 March 2023 31 March 2022 Trade debtors 97.086 142.772 29,686 11.374 2.361 Other debtors 46.115 Prepayments Taxes & Soaèl Stcuiity 21.026 164,227 186.193 12 Current Asset investments 31 M•r¢h 2023 31 Marth 2022 MSBC Money 14•ffket d•posits: Repayment date ZSUI July 2023 Repayment date ZP January 2024 - Gross intere# rnte 3.82% - Gross int*rest 3.6P 600.000 1.000.000 1,600.000
Techniquest 019550M i awrlty n•. 5x7722 13 Credltors: Amounts falling due within one year 31 2023 31 Marth 2022 Trade crtdltofs 42.240 IOD.IS6 Tax•tion and 50¢1•1 stojrity Other creditors Interest fret Invèst to Save Loan 51.847 15,221 52 53.000 53.000 cruals and deferred inuKne 221.219 223.804 368,358 392.181 14 Creditors: Amounts falllng due after more than one year 31 M4rEh 2023 31 Marth 2022 rnterest free Invest to Sa¥e Loan 225.000 278.000 WCVA Loan 24.983 225.000 302.983 There is one COfKessionary loan included in credltors at the year end. naffdy. Invest to Save loan totalling £278.000 (2022 £331.000). The intttest rate on the loan is thar9ed at O•h. and the rèPayrT¢ date of the loan is 31# 14arch 2028. 15 Loans An anatysls ol the maturity of the loan bs g¥en bdow. 31 2023 31 •Aor¢h 2022 Amounts fallin9 due within one year 53.000 53.000 Amounts falllng due between two and fwe years 725.OlX) 289.983 Amounts tslllng due after more than fi¥* years 13.000 278.000 355.983
Techniquest Cfflip•hy no. 01955696 1 (1wffity no. 517722 16 Movement In funds Transfevs movement between in funds fvnds At 1.4.2022 At 31.3.2023 Unrestricted lunds General fffid Oe51gnated - from general funds Flxed a55ets Future commitment5 Future capital investment To cover operatiortal costs deferred fvom 2022-23 959.621 210.527 (41.856> 1.128.292 305.432 312,000 700.000 1305.432) 162.579 90.000 474.579 790.000 iio,(MJo iio.000 Unrestri¢ted funds 2,277,053 210.527 15.291 2,50¥871 Restrfrted funds Science capltal fund - Fixed assets WCVA & other restricted funds 3.939.459 37.500 (393.5S6} {15.291) 76.912 3.530,612 114,412 Re$trleted funds 3 976 9S9 3 645 024 TOTAL FUNDS 6 2S4 012 6 147 895. In¢omin9 Res0 Ilet movement Fn funds Unrestrl¢ted funds General fund 2.021.7Jl 1.811.184 210.527 2.021.711 1.811.184 210.527 R•strirt*d funds Schools outreach ar#d Nuffidd pro9ramme Scientè capital fund 143.152 166.2401 (393.556) 76.912 (393.556> 143.152 (327,144) 1316.6441
Techniquest 16 Movement In funds - comparatlve no. M955616 Ichrlty ng. 617722 Comparatives for movement in funds Trnnslers mgvement between At In funds tuTh& 31.3.2022 At 1.4.2021 General lund De51gnated - Imm gerwal Fixed Assets Future Commiirnents Future capltsl Investrnt 1.014.576 24.211 (79.166) 959.621 22J.266 312.OL)O 450.000 84.106 305.432 312.000 700.000 250.000 Future losses antklpated Ilncluth9 Inwrt of Covid-19) Sclence Capltsl - workln9 Otal 255.000 125S.LMYO) Unrestrlcted fvnds 2.252.842 24.211 2.277.053 Restrkted funds Sdente tapltal fund - Rxed assets WCVA 4.313.653 (374.1941 37.SOO 3.939,459 37.SOO Re$tted luthds 4.313.653 {336.694) 3.976.959 TOTAL FUIIDS 6 566 495 6 254 012. Incoming RaurceS resources ¢KpÈfbded movempJrt In funds Unrestrlcted fvnd$ General fun 1.612.541 (1.588.330) 24.211 1,6ll54X (1.S•8J30) 24.211 Restrlcted funds Sthoo15 Outreath and Nuffleld Sclènce fund WCIA 115.379 30.0 (115.379) (404.1941 {374.194) 37.SOO (335h94 (SI•)
Techniquest Ctywy no.O19SS6961 Chxlty no. 817722 Desi9Aated reserves - unrestricted funds The main Items that have been designated from the unrestn.rted general fvnd by the dlr¢ctors are.. 1. £474.579 has been set aside to ensure that 5vffi£ient fvnds are available to meet commitments In the unlikety event of the (harity's xb"vities ceèsing.. 2. £790.000 has been set aslde for future capital investmenL to Include.. É200k for a %Jlar panel aaY £IISk for phases 1&2 of a decart>onlsatlon plan £IOOk for new exhfftiits lor the retro stt1e £175k for replatement boilets & thillews É200k for west terrace de¥elopment 3. £110.000 has been set aside to cover ctperatlonal costs deferred frryn 2022-23 Restrlcted funds S¢ien¢e tapital fund withln restricte¢J fvnds, an amowt of £3.530,612 has been albocate<l In respect of the net ljook value <>f the assets for the Science Capbtal Projert. Thls wtrll be reduced o¥eT ihe useful •c¢)nomit life of Ihe assets In line wlth deprtt¥ation policy. WCVA and other restr•rt¢d fynd$ £50.( represents support rectsved from WCVA for the de¥eI0pfft ol an onllne shop. £48,662 represents SLWOrt received from KLA Ftyjndatlon to support Ihe development and runnlng of the laboratory. £15.S00 represents support from Waterloo Foundats"on to support xhool's outreath. £13.990 eSents support received from Nuffield Fouftd•bon fgr school's work. ÉIO.000 represents support rec*ved Irom ASDC for communlty partnershlp work. £15,500 represents 511PPOrt received trom CAF to support Stience Café and othei work. £7.500 represer¢ts SUPPOrt received from Dvff Cymru to commence development on an exhlblt promotln9 viarer savln9. £19.500 represents several smaller cwtributlons relatkng to restrlcted wojerts, none of whlch Indlvldually exceeded £5.0Tr). 37
Technlquest 17 Comp•ry•145Sl• I Chrfty ng. 617722 Net Assets Gener•1 Deslgnated funds futhts fund$ Totsi Flxed assets 3.530.612 114.412 762.691 365.601 4.293,303 2,079,592 (225.000) 6.147W95 1.599,579 (225.000) 1.374,579 Non-ojrrent Liabillties B•lance5 ¥1 31 M•r¢h 2023 3.645.QZ4 1.128.292 Gthev•l funds fur Ttst•l Flxed assets 3.939.454 37.SOS 636.432 686.000 (278.000) 1,189,162 4.575.886 1.981,109 1302,983) 2S4.012 Current Assets Non-current Liabiliti"es Balants at 31 M•r¢h 2022 1.112.874 (24,983 J I.7.09 3.976,959 18 Capital Comrnitrnents The company capfrtal tomrnltments of £12.759 at 31 March 2023 (at 31 Marth 2022: £50.420). 19 Related paity transactlon$ The charitse company has a wlwlty owned subsidiary In Tethnlquest Enterprises LIted. a company Incorporated In England and Wales. Tethfilquest Enterprlses is donwnt ènd & tjrried at Erill value In these acctsunts. Nigel Burba9e. husbJnd of Undè BUage Tethnlquesvs Buslness SeThlces Director. is the ownèr of NB Interlor & Constnjctlon whlth c•rried out various rwlrs to the ¥• of £2,1)05 (2022 £24.080). There were no amounts outstsnthn9 at the yw er. 20 Operating Leas Technlquest has no Ope7 leases (2021122 - 1)