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' re￿rt .................. . 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 Ma￿lS 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 Foll￿1n9 severnl Y￿r$ 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 pU￿1C ¥lsitor numbers have performed wel. Daily capacity remalns cappen development. A newly refvrblshed laboratory and knnd-new wjectlon unlt in the planetarium were added durfn9 2022. Improvln9 and ertendin9 offtr to ¥IS￿oIS as trtll os several new exhlbits. enabllng us to contlnue to emphasize the role that Klence plays In our everyday lives. Cther projttts coryleted or 4tndertaken durlng the year Induded the de¥elopment of a new CRM system and the freshing of our website to provide a brighter and less corporate tone. also incorporatlng a new onllnt shop. Our customer feedback conb.nued to be rtvièwed every week and %¥e contlnued t adapt our operatln9 YMdel to Imwove visltor expwlences and bulld reslllence wlthln the or9anisation. The year also sjw Tethnlquest adopt a new Equ411ty, Dl¥er51ty •nd ￿￿V￿on (ED&I) Strjtegy 511PPOrted thmugh the work of our CfOSS-departmental EDW Worklng Group and our comrnrtment to promotln4 ¢qUa￿ty. dlver4ty and ind4&on wlthin a ¢ultuo that vèlu¢s differ¢nc¢ rem)Ins. Strong. As In pre¥lous yearn. we have contlnued to see an lficredlble effort by our small ènd dedlcated team who conb.nued to Condurt thelr duties ¥￿th the profession•llsm. As an edutatlonal thartty wè wlll tontlnue to locus ￿ tht rolt that science plays In our everyday Ilve5. demtsn5trating how Science. Technology. enginethngl Arts and Mathematics and innovati¥* technolo9les are shaping the luture ol our soclrty. Karen Harrfs (Chalr ol Tethnlquert) & Lesley ￿rkpath¢k (Chlef Executive) Techniquest Annual Report & Accounts Our oryani$ation Technlquest is a COTnpany Ilmited by guarantee and is a Yegistered eduutk4nal tharity committed to ensuring that Wale5 dèvelops a scienty"fically liternte society. its rrission is to anbed sclence in Welsh tture through Interactive tn9agement. The Board. who are Trustees and also DirectOTS f•r the purposes of the Companles Ac¢ present their report and the audit•d finandal statements for the year ended 31 Marth 2023. Objecthies and actlvltles ObSerts The prlnclpal objert of the company. as set In ts Memorandum of As50datlon. is to promote the advaneement of education ènd iearnlng of science, technokn9y. en9ineerin9, arts and mathematics (srEAM) and In particular to so by malntslnlng and carrylng on an exhlbltlon to explore various sclentlfic and art￿ concepts and to encourage an awarene55 amongst the general public of STEAM In soclety whilst helplng to Inuease the acwsibillty of STEAM. The protertlon and p￿ervatIon of the environment for the benefft of the publlc by: al The provision and mèlntenance or improvemert of a rtrntiDnal aThl educational space: or bl The pro¥islon of sorne othef amenity Our VISIO￿. To be the UK'$ 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 aout 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 FI￿n¢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 artI￿ty 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 nc*W 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 d91￿1 outreach products delivered to schoo15, and from retsm Sales. cOnWne￿al events and rentsl I￿Orne. Unrestritted exptnditure for the year was £1.811.184 (2021-22: £1.588.330) which is £222.854 higher than the prevlous year. Thls Inc￿se 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 fin￿aSed 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 In￿aSe the number and range of lab sesslons. both Iw sthool antl publlc audlenees. Finally. the remalnln9 25% {£12.5001 was received Irom a 9rant is5￿d by WCVA to SUPPOrt the develwnent of an online retall 5tQfe (2021122 £37,500). Rertrect￿ Funds - Insplrln9 Science F￿d 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. it￿e 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 Insp1￿￿9 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 Corn￿et¢￿ 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 t1￿c￿t thls ￿*r of £106.117 (2021122: £312.483). This thmwised a surplus 01 £210.527 on unresirirted funds ￿ a deficit on restri￿ I￿ld5 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 reg￿ter and 15 tn a rarbge of between £0.85m to £1.3m. T￿hnIque5V$ 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 m*n Items that have been destgnated from the unrestrlrted general fvnd by the dlrertors are: 1. £474,579 has been set aside tts e￿re that sufficient fvnds are available to meet cornrnitrnents In the unlikdy event of the charl￿5 actovitts ceaslng: 2. £790.000 has been set aslde ft*r futu￿ c•tal Investrt￿L 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 merr￿ranthjffl 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 pe￿0￿5 ofsignlficant change during the last seven years. In 2016 4 new values and behaviours ￿me￿ork 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 att￿n5. Induding Intrea￿n9 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$6cal features of its premises where they are placed at a substsntoal d15advantage In coryèrlson *llh peoplÈ who are not dlsabled. Techniquest Annual Report & Accounts structure* governance and management Governin9 document Techniouest 15 a company Ibn4ted by guarantee ar•d a re9lstered charity. Its go¥erning Otstuments are Its Memorandum and Artides of Association as èdowed t)n incorpornbon in 1986 and as subsequently amended by written resolutbon In September 2020. The charitable ¢ompany has one whomy owned subsmllary. Te¢hn￿￿e$t Enterprlsts Llrnit￿. Th1$ ompany Is cvrreniiy dombafit bvt can be rea￿Vated 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 r*elected. The Board has been constituted so that finance, te9al. education ènd technology Ildds. local ent￿preneUr$ 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 brIe￿d thebr legal obligatlons under tharity and company law. The Btsard is respon*ble for the tompany'5 Strète9y ènd poltcy frarnewvrk. Board n*lngs arè held at least quarterty and the￿ is a Se￿￿te sub-cOn¥￿ttee coverin9 finance and audit. The Board has adopted the Charity Gtsvernan￿ Code (for lar9er thar6t*s) 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 GOverna￿e 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 o￿TationS with certain reStri￿n5. The CEO appoints certaln senlor executlves tg the wlor management wblch rneets lormally on a weekly basls. Rlsk management The Board has reSpOr￿bIlIty 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 poten￿al Im￿tt and Ilkellhtsod of occurren￿. ￿1 rfjsks v*thin 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 devebtspr￿t: 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￿ ¥al￿ed 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 w4x*ses 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 FInanC￿al 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 p￿1¢atIOn of resources, indudlng the income and experK1i￿re. of the tharitable company for that period. In preparing those financièl stat*mtnts. 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 pos6￿On of the tharltable company and to enable them to ensurè that the financial stattments coM￿Y 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 a￿lit 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 Infom￿tion and to establish that the audthrs are awa of that infr*rmath)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(thq￿S111￿ th•rd* ¢trfportyl forthe Ye¥￿d 31 March notes to il*fin¥ficoistaltn*nts. iftdudiffj • swThn¥ry of$vJnthcantact4￿tiry Fdicaes. The finarKial reporting thal ha5 teen apF4*d in Ihey pwEparatK￿ o *￿"rable UnW ￿ngdOM A(c￿n11r￿a Strnda￿S. irtdwj￿g Firwncial Reportmg s1¥th￿ 102.. The Financaal Repyw Slarthrd ITr Ihe UK In ow Ilx ffnarKial slat•Th￿￿￿: gve a Inr and lawvrw oltr* si* of Ihe ¢h•ibtsbk cc¢rw￿s affaws a5 at 31 Marth 2023 arwj ol i easlg for opknio th)nd￿j Ouf a￿*t IA In*rnaiioMI A￿*￿1¥> IUKI IV6As (UKII aw)Ikaty• law. Ihrre8PM5foilths underthose 5tsrul•ds arn kn¢JE5Uited IA tt* Alxjil￿s R$pon$ibititiesforthe8ud ol the finafttyal st#*rrtnts secbm ￿orL •re K•Jepwdent d the c**ilatle clynpany ￿ accordaii¢• v*th the 8t￿81 rwwren*rts thal are rm a￿11 of tr* Sta￿￿n￿ M Ihe UK I￿￿11￿J Ihg FRC'S Etro¢al Str￿￿%. and * have OlP*r ethical laspons￿h￿S in acxfdarKt th0$9 reqwremerts. belie%* that the aL*Iit e￿￿en￿ ￿ haby ¢biaM*d SLrfK*At *d oppropriale to VOVKle basis ouropmiion. Coftelusbons rnladng kn 90th9 eoTre•m We havo nothing ts rw in rf¥¢¢* fokntiYJ mavgrs in ￿tion lo t*1￿h the I&As IUK} reqwre u5 Its Ihe kntstees h•¥e nDt4*sc1xed￿the fThrK4al stslerrwts any maitrrkilufi¢¢rtaintiÈ$ Ihat may ¢a$l 5onifi¢ant deubl ab￿1 the akn.lty to £￿t￿e lo adLVt th¢ 9oMig ¢or*¢m b•w of aulhorised loris3￿. th8 an1￿1 rewrt other Ihan tr* statvrnnts •nd aLKuiorf$ reFrf thewn. I￿1 opinion on the an¢ial slate￿ty daes cover the Olh8rirrfonrthon aTrJ. exf*pt to Il* extsntotlknN* ¢¥pli¢Atr st#ted In kw*dge obtsind in tr* or Othe￿ISe appear6 10 ff#55tatsd. ¥ w• pjenbfy such mai•ri•l IncO￿ls1errn5 or warent material Thx551•lwrvrf5. •ro requ¥ed to determi￿ whelher thwe ￿ 8 malerial the fThrthl stalemerts i¥ a m*rial mtss1at￿wt of the other 1nforrna￿on. M. b•sed Oplnlons ￿ oth•r fflatl•r8 pre8cr*ed by th• Cofflpan•H 20 In ourothityi. bosed On II*TAth 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 tr*finantial ststements.. and 15 Techniquest Annual Report & Accounts Ilaf&)rt on w• •m mqulrod lo v•p(¥tby In thè IWI of Ihe krvw*thae 8TrJ UrwJer5￿IVj ol the ¢hwAabl& ¢<*Tpany aTrJ lis arwffopffienl ¢btsir*J in We h•¥enolhiTrJtorewtin re5peeioflheldb>**4m•iiern iirtthtK>nio¥trh**tsCrynreJPAa 2fthwuKei us lo report rf. in ourlww￿." ofthe fmancia15tstem•ts ar¥tfor saliswthattygwa tn* aJ¥J fa¢r¥ww. and forS￿h ￿teMal co[￿101 mBstaterrnrbL t￿￿1herth* to fr•Jd w 8llU. In preporirrfJlh¢ $ts*wts. th* tyus*¢s Ih•¢haril*¢ ¢ frawl ry errpr. •*1 to an re￿ that indude5 0 ReaSwb￿ •$sUra￿ 1$ • h•Jh le*1 is • war•fttee thJt * •uOit ¢￿ducted in a¢¢ordan¢•with Ishs IUKI will de*ct a rn3￿ rriwIth￿nI when it exists. Mk45tatements ran aiise •xFeded torfuertttr* e¢•rww¢dewb)nsof lakenoTh tt*bJso oltr￿finan¢I•l siat¥nefiis. resFecl of iryegulantw fr3thJ. Thè exknt wolxdwes are wablè of detecti t9￿111185, incljdw fra￿j 15 fletsd811 Extsnt to whkh th• auoJlf*X eoAsldofvd ¢ap•bl• IN•g¥lathkns. *•ud. haenbfy ar¥$ asses5 Ihe ￿ (4 rndtsiial ￿456￿1¥1￿￿ cl Ihe F￿a￿l31 Stalwnpnts. due to or Jence $ sthnt aho appw•* to a bas$ OUT￿11¥￿. We dwJss8d tr* 118¥wd EthKal Standwd 2019 1h¢engage￿nt erffylng •nd pol¢rf•l ml•tydio kn•fBtl•rf14po. In vjenl1fy￿9 and assw￿n9 115*5 01 mi55t8￿nt in respxt of #reg￿￿￿e1. ind￿1￿ fraLKI and no 16 Techniquest Annual Report & Accounts opern*s ￿. low.rvj ¢)rtkn¢ ar•J ￿¢￿t￿)n$ that had a dvEci•ffect￿ the FiMno•l Slaiernefits ot tw hod a fvftd¥rn￿thi *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 proc*duTrs to ID ￿ vJen¥fivd w￿dId f¢knry"rYJ.' s., ar#1 aL%o Comm￿le0 thant tylen￿ed la*% •rbJ pOkr4i•lfra￿1 lo all engag￿nI team mwrt•5 WKI rtyn•wwd aknvl Iv ary iTrYKa￿At offwj *ilh laws arKI regulations throughoul A hjrther of our res[￿￿7￿5 lor the of the ￿￿￿￿41 51aivrtnts is bxotrd on the Fffian¢Kg1 Rep)tkng C￿￿r$ *b>* •i Th¢ lorn￿ part ol our U8• ol rnport r•ptyi m•d* sdryty 10 fv th•rthb￿ c£ffipaAWs men*ws. as a btsty. tn ateoTdance with Chapter 3 01 Part 16ofll* C¢ynpanieskl 21K6. Our aUdrtw0￿ ha5been urx*rtakem 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 l*v. we do I￿t 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 A￿3 and on behaff of 8evan WlaThl LLP Gmur*J Fkxi Casle Cwrt Swansea Ent￿se Pa SA7 9LA 17 Techniquest F¥r4 31 Il•rth 2023 2021 DDnatiDn5 & Le90e5 Other trn*n9 a(tivthS 54312 325￿01 8.239 W12 96.495 163,629 7,153 394.919 872.839 Gr4nts rKwveJ alon**e 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 Expend*ur• 3>3556 404.194 1.663.982 1SW648 PrOviskniofOff-￿ Edu￿￿0￿• 5eMces 66240 115.379 3*3.S 393.5 (J93.$56) {1S.2•X) 14W47) 1123.778 270.9•) 2,034.211 2,107,903 (312.483) ToL•l IMII.184 210.527 1¥.391 225Jll8 240 (lo￿117) (3114a3) 1,277.053 xsowi 37.50D 3.939.45• Sxlisll 0.254.012 14?W5 6.566.495 6.254,012 T•ial ¢arthd l•ThJard Technlquest Statement of flnandal actlTAtl•s for the ytsr ended 31 2022 (tomparatlve) thE Yew to y••rw ji March 31 Ilarth 2OIZ 2021 Incorne frorn: 96A95 163.629 7,152 327,419 A?2￿]9 6.292 18,067 3.3BI OthertWln9 a(￿￿e$ 7.152 394.>19 Grafflts 1.181.951 18A51 ¢f on.sts•yy¢4uon Prtiv￿hn ¢toff-Siteethxouon 5etv*ts I45￿7 115,379 16B.659 T•tal ISU79 &795A2• I.396￿01 oth￿ tosts 73,6B2 12.446 ISF eApenthre Grants awarded 401.194 194 177.4B I,S(*.648 1.4?5.024 Provbsknn ololF.s*è ser¥￿e5 115.379 115J7• 37.380 TDtal tharita￿ I[tr￿e$ $1454• S••,330 lJ5.m Jis 37JOO 37.500 40•.194 1.68Ym2 T*t•i 1.702.3 (305.5371 I￿5,537} N•t bTrcoM• (371.194) {37IX94) II•i bpfvnd• 2*211 Tatal bJnth fvrna 2251J42 277m3 4a13.653 6.872.0)Z 6.$66.49S >?.s Technlquest n#. OI•SS696 1 Charlty no. 517722 Balance sheet as at 31 March 2023 2023 rix•d ass•ts: Intangible a Tangible assets Tot•1 fix•d •#sets 63.248 4.230,055 4.293.303 4.575,891 4.575.891 Cuvvent assets: Stock io 37.747 164,227 1.600.000 645.976 1447.950 16.093 186.193 Debtors li Currént asset Investments Cash at bank and kn haftd 12 2.170,999 2.373.285 Totsl ¢wreol assets Llabllltles: Creditors: amounts lalling the wAthin gne year Net ¢urrent •sfjets 13 368,358 2.079,592 392.181 1.981.104 Tatal assets le55 ¢urrent Nabllltles 6.372￿95 6.556.995 Credltots: Amourrts fallln9 d￿￿ after more than vne year 14 225.000 30Z,983 Net assets w Ilabilities 6.147,895_ 6.254,012 The funds of the d￿rIty Unrtstricted funds Restrirted funds.. 16 2.502.871 3 645.024 6.147.895 2.277.053 3.976,959 6.254,012 16 Total lunds These financial Statern￿ts on p)ge$ 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¥ $17722 Cash Flow Statement for the year ended 31 March 2023 2023 2022 Re¢•ndllatloTh of net Income to v*t ush provided by operating activities: Nei Inrorne 1106.1171 (312,4831 Adjustments for: Depreciation charges Lossllprofitl on sale of fixed assets 434.211 2,664 (10.903) 521.593 17,008) (144) Movement In provisions Ilncreaselldecrease in stocks Decrease/lintreasel in debtors (oe(￿0Se) in credit¢)rs Ilet cash provlded by operatlng activltles io {21.6S4) 21.966 123.828) 296,349 3.779 {98.825) (20,7191 86.193 li 13 Stslemen¢ of cash li￿￿. Cash flows from operating activrttes: Met cash pmided by operntin9 •¢ll¥llle* Cash flows fr¢)m Investing artwltfies: Current asset inve5trn*its Interest from inveStm￿ts Proceeds from the sale ol fixed assets Cawtal expenditure Loan {repaid) Loan received 296,349 66.193 12 {1.600,000) 10.903 12.672 (166.964) {77,9831 144 8.360 169.6471 148.0031 Ilet used In Investkn9 artlvltles (1,82L372) (109,146) Ch•ng• ith ¢•sh and cash equlvahnts (1.52S.023) {22.9531 Cash and cash equi¥alents at l Awil C•$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 charit*s preparfng thdr accounts In accordance wlth the Flnanoal Rewyng Stsndard applKaNe In the UK and Republlc of I￿and Ifks 102) leffettive l January 2019}'. Financbal A*￿rtIng Standard 102 The Finandal Reportin9 Standard appllcable In the UK and Aepu141c of Irdand, and the coM￿nIeS Act 2006. The financlal statements have been prepared under thè hlstorlcal cost Conven￿oft wlth the exceptkin of Investments wNth are Induded at market Wal￿. Golng concem Technlquest returned to è profltable tradlng posltfjon In 2021122 follo￿n9 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 sU￿v5 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 cha￿ty 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 coN*tions that mèy cast signlficant doubt on the èblllty ol Techniouesi to continue as a 90in9 eoncem. The dIrertO￿tTusteeS 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 Staten￿t 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. ()onaik*ns 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 d1￿CtlY 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 Cornn￿ra01 wing annual rates Sn order tv write off eath asset over Its estimated useful Ilfe. Improvements to property- 6.66% on cost Plant and machlnery - IO% tts 20% on cost Flxture5 and fittin9s - 6.66% to 33.33% on cost Exhibits"_ 6.66% to 20% on co# Computer equlsYnent- to 33.33% on c4)st Motor Vehlcles - 20% 1)n cost Assets under eonstruciion: the policy is to cèpitalise only costs direcuy attributsble to building and develwng the Soence Cawtsl. All expenditure 15 reco9nised at (ost and IncluL1es contrartors. charges, materials. any direttiy •ttributable labour and any direttiy attributable overheads. Caprtalisation cease5 when subskntwlly all the ath"vth"e5 that are necessary to prep)re the asset for use are Corr￿ete. Dep￿lO￿On commerrtes at the polnt of ttsmmertial deployment over the assevs estimated useful econowNc life. Assets are rÈvlew¢d and cawalised on an indivthal bags. stocks Stocks are ¥aluen resultrng from a past event that wlll probably result in the transfer of fvnds tr* a thlrd party and the amount to settle the obligation tan be measured or tstimated re1va￿v. Creditors and provlslons are nomiollv recognlsets at thdr settlement amount after allowin9 for any trade dlscounts due. The charity only has financial assets and financfal Ilablllties-of a kind that qualify as baslc financlal Instruments. Bjsl hnanclal Instruments are initlally Yecognlsed at transactlon value and subsequently measured at their settlement valve with the exception of bank loans Twhich are 5ub5equently measurtd at arno￿"$ed cost U51ng the effective Interest nthod. Con¢e•sloNiry L••M cOn￿510n￿ry 103n5 are loan5 pro¥thl bylto the dwrlty at an Interest rate lower than the PTe¥alllng rnarket r*e or wlth more la￿urable terms than those avallable from commerclal lenders. Such loans are genernlly provlded to sUp￿rt tharitable artl¥ltles or to prO￿e flnanclal asslstance to 1ndMd￿1s 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 Red￿dèneY 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 p￿SlOn charge for the perlod represents contrlbutlons payable by the conwny to the scheme and amounted to £34.216 (2021122: £32,329). Employee Inforn￿￿On 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 managerr￿t personnel ofthe charity was E235.617 {2021122: £226,335). Techniquest COM￿nY Tho. 01955696 1 no. 517722 Intsnglble flxed assets software D￿elOPMent 2022-23 Total Software Development 2021-22 Totsj 2022-23 2021.22 Cost At begiTrThFng •f ve•r Additions Redass1f￿d 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 inveStsTr￿t of £52.348 in a new CRM system, and £10.900 n de¥eloplng and Improving the conwany's Tmtbsite. These softwart d*¥ek*prnents werè stlll being develèped at the year end. and therefore no am0￿5￿110Th was 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 obspo￿ts 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 - $I￿P 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 Investrn￿t 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$￿tted luthds 4.313.653 {336.694) 3.976.959 TOTAL FUIIDS 6 566 495 6 254 012. Incoming R￿aurceS resources ¢KpÈfbded movempJrt In funds Unrestrlcted fvnd$ 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 a￿aY £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 albocatef 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¥eI0pff￿t 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 Balant*s 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 charits￿e company has a wlwlty owned subsidiary In Tethnlquest Enterprises LI￿￿ted. a company Incorporated In England and Wales. Tethfilquest Enterprlses is donwnt ènd & tjrried at Erill value In these acctsunts. Nigel Burba9e. husbJnd of Undè BU￿age 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 Ope￿￿￿￿7 leases (2021122 - ￿￿1)