2020-12-31-accounts - The Leeds Neurology Foundation

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THE LEEDS NEUROLOGY FOUNDATION

(Registered Charity No. 1003332)

`ANNUAL REPORT`

`AND`

`FINANCIAL STATEMENTS`

`OF THE`

`TRUSTEES`

FOR THE YEAR ENDED
31 DECEMBER 2020

`BANKERS:`

HSBC Bank PLC
33 Park Row
Leeds
LS1 1LD

`INDEPENDENT EXAMINER:`

Michael J. R. Heatley
Chartered Accountant
4 Gentian Glade
Harrogate
North Yorkshire
HG3 2NT

THE LEEDS NEUROLOGY FOUNDATION

`PARTICULARS OF TRUSTEES AT 31 DECEMBER 2020`

Name                          Occupation

Dr Helen Ford MD FRCP         Consultant Neurologist

Dr Oliver Lily MD FRCP        Consultant Neurologist

Dr Ahamad Hassan Phd FRCP     Consultant Neurologist

Dr John Bamford MD FRCP       Retired Consultant Neurologist

Dr Peter Goulding MD FRCP     Retired Consultant Neurologist

Elizabeth Baker LLB           Retired Barrister

John Reeves BA Hons           Retired Chartered Accountant

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`

The objectives of the Leeds Neurology Foundation are to promote the study of the
nervous system.  As a result of the exceptional circumstances of the COVID–19
pandemic, the Trustees acknowledge that education and research has been
significantly curtailed.  There has been limited opportunity to support such
activities this year.

In 2020 the trustees reviewed their investment strategy and this will continue to
be reviewed, by them, on an annual basis.

At the year end, the Foundation had cash reserves of £39,526 compared with £11,567
at the end of 2019.  The main reason for this increase is that, on 30 March 2020, a
grant of £22,762 was received from Roche Products Ltd for the refurbishment of the
new day-hospital but, due to the pandemic, this has not yet been allocated.  In
addition, the Foundation holds two investments in M & G Securities Ltd: 23,316.287
fixed interest units in the Charibond Charities Fund and 7,485.000 income units in
the Equities Investments for Charities Fund which have cost in total £112,745 but
which had an approximate market value at the year end of £132,278 (2019:£153,227).

At 31 December 2020, a balance of £1,937 was still held in the Video/E.E.G.
Telemetry fund.

On behalf of the Trustees

O. Lily

19 March 2021                      Dr Oliver Lily

2.

THE LEEDS NEUROLOGY FOUNDATION

`STATEMENT OF FINANCIAL ACTIVITIES`

`FOR THE YEAR ENDED 31 DECEMBER 2020`

`INCOMING RESOURCES` `Donations` `Roche Products Ltd` `Biogen Pharmaceuticals` `Other` `Other incoming resources – gross` `Unit trust dividends` `Unit trust interest` `TOTAL INCOMING RESOURCES` `RESOURCES EXPENDED` `General expenses` `Professional` `Accountancy charges` `Stockbrokers fees` `Trustees expenses` `Sundries` `Grant to MD Student` `Mailbox` `Other items` `Conferences, courses, meetings` `including travelling` `TOTAL RESOURCES EXPENDED` `NET INCOMING/(OUTGOING) RESOURCES` `Balances brought forward at` `1 January` `BALANCES CARRIED FORWARD AT` `31 DECEMBER`	`Unrestric` `ted Funds` `£ 22,762` `-` `2,661` `25,423` `5,015` `700` `5,715` `31,138` `850` `1,200` `-` `1,000` `-` `65` `64` `3,179` `27,959` `121,575` `£149,534`	`Restricted Total Funds` `Funds 2020` `2019` `£ 22,762` `£ 1,750` `-` `-` `(400)` `-` `2,661` `128` `-` `25,423` `1,478` `-` `5,015` `6,212` `-` `700` `653` `-` `5,715` `6,865` `-` `31,138` `8,343` `-` `850` `1,000` `-` `1,200` `1,200` `-` `-` `217` `-` `1,000` `-` `-` `-` `230` `-` `65` `367` `-` `64` `17,977` `-` `3,179` `20,991` `-` `27,959` `(12,648)` `1,937` `123,512` `136,160` `£ 1,937` `£151,471` `£123,512`

3.

THE LEEDS NEUROLOGY FOUNDATION

`BALANCE SHEET AT 31 DECEMBER 2020`

`FIXED ASSETS` `Investment assets` `CURRENT ASSETS` `Cash at bank` `HSBC Bank PLC` `Cash at stockbrokers` `Brewin Dolphin Ltd` `CURRENT LIABILITY` `Creditor` `Accountancy charges` `NET CURRENT ASSETS` `NET ASSETS` `FUNDS` `Unrestricted` `Restricted`	`Note` `2020` `2019` `2` `112,745` `112,745` `_______` `_______` `112,745` `112,745` `38,044` `7,972` `1,482` `3,595` `39,526` `11,567` `800` `800` `38,726` `10,767` `£151,471` `£123,512` `3` `£149,534` `£121,575` `1,937` `1,937` `£151,471` `£123,512`

Approved by the Trustees and signed on their behalf by:

O. Lily

Dr Oliver Lily

A. Hassan

Dr Ahamad Hassan

19 March 2021

The notes on page 5 form part of these accounts.

4.

THE LEEDS NEUROLOGY FOUNDATION

`NOTES TO THE FINANCIAL STATEMENTS`

`FOR THE YEAR ENDED 31 DECEMBER 2020`

`1. ACCOUNTING POLICIES`

a.  The financial statements have been prepared under the historic cost
    convention and are in accordance with the Charities Statement of
    Recommended Practice.

`b. Incoming resources`

     Research grants and donations are accounted for when received.
c. Resources expended
     Expenditure is accounted for when the liability arises.

`2. FIXED ASSETS`

Investment assets

     Cost            At 31 December 2019
                       M & G Securities Ltd
                        Charibond Charities Fund
                          23,316.287 fixed interest units £ 30,002
                        Equities Investments for Charities Fund
                           7,485.000 income units       82,743
                     At 31 December 2020 £112,745
     Approximate     At 31 December 2020  £132,278
     market value    At 31 December 2019 £153,227

`3. FUND DETAILS`

     The unrestricted fund is the general fund of the Foundation.

     The restricted fund is the Video/E.E.G. Telemetry fund.

5.

INDEPENDENT EXAMINER'S REPORT TO

`THE TRUSTEES OF THE LEEDS NEUROLOGY FOUNDATION`

I report on the accounts of the Foundation for the year ended 31 December 2020
which are set out on pages 2 to 5.

`Respective responsibilities of trustees and examiner`

The charity's trustees are responsible for the preparation of the accounts.  The
charity’s trustees consider that an audit is not required for this year under
section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent
examination is needed.

It is my responsibility to:

Examine the accounts under section 145 of the 2011 Act;

To follow the proceedures laid down in the General Directions given by the Charity
Commission (under section 145(5)(b) of the 2011 Act); and

To state whether particular matters have come to my attention.

`Basis of independent examiner's report`

My examination was carried out in accordance with the General Directions given by
the Charity Commission.   An examination includes a review of the accounting
records kept by the charity and a comparison of the accounts presented with those
records.   It also includes consideration of any unusual items or disclosures in
the accounts and seeking explanations from you as trustees concerning any such
matters.   The procedures undertaken do not provide all the evidence that would be
required in an audit and, consequently, no opinion is given as to whether the
accounts present a ‘true and fair view’ and the report is limited to those matters
set out in the statement below.

`Independent examiner's statement`

In connection with my examination, no matter has come to my attention:

1. which gives me reasonable cause to believe that in any material respect the requirements

to keep accounting records in accordance with section 130 of the 2011 Act; and
with the accounting requirements of the 2011 Act have not been met; or

2. to which, in my opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached.

M. J. R. Heatley

4 Gentian Glade,
Harrogate,
North Yorkshire,
HG3 2NT

Michael J. R. Heatley
Chartered Accountant

19 March 2021

6.