2023-03-31-accounts - The Fetal Medicine Foundation

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Trustees/Directors	Trustees/Directors		Prof. K H Nicolaides
			Mr Jonathan Hyett
			Dr. Ranjit S.Akolekar
			Mr. Paul Jacobs
			Dr. Marietta Charakida
			Dr. Argyro Syngelaki
Secretary			Dr. Ranjit S.Akolekar
Company	Number		02922302
Registered	Office		137Harley Street
			London W1G 6BG
Auditors			AGK Partners
			Chartered Accountants	& Statutory Auditors
			1 Kings Avenue
			London N21 3NA
Accountants			loannou 8 Co.,
			Chartered Accountants
			767 -769 High Road
			North Finchley
			London N12 8JY
Registered	Charity	Number	1037116

								Page
Trustees'IDirectors' Report								1 to 4
Independent	Auditors'	Report						5to 8
Statement of Consolidated			Income and Expenditure			and Retained	Earnings
Consolidated	Statement	of	Financial		Position			10
Company Statement of		Financial		Position
Consolidated	Statement	of	Cash	Flows				12
Consolidated	Statement	of	Financial		Activities			13to 14
Accounting	Policies							15to 17
Notes to the	Accounts							18to 26

					Notes	2023	2022
						'Z	F
Income
Income from charitable activities						1,297,779	179,521
Rental income						330,463	277,194
Special Services to Hospitals						4,760,569	4,600,831
Net Trading Surplus from Non-Charitable			trading	activities
Income 613,811,438 (2022 - Expenses F11,124,420 ( 2022 -		f12,723,232 ) E9,944,299 )			18 10	2,687,018	2,778,933
Total Income						9,075,829	7,836,479
Administrative expenses						(2,347,457)	(1,670,023)
Grants and Donations						(3,337,311)	(3,507,572)
Operating Surplus Interest receivable						3,391,061 141,505	2,658,884 5,904
Surplus/(Deficit) on Ordinary	activities before			taxation		3,532,566	2,664,788
Tax on Profit on Ordinary Activities						(134,060)	(129,664)
Surplus/(Deficit) on Ordinary	activities after taxation					3,398,506	2,535,124
Total comprehensive income	for the		year			3,398,506	2,535,124
Accumulated surplus B/Forward						16,010,958	13,475,834
Accumulated surplus C/Forward						19,409,464	16,010,958

				Notes	2023	2022
Fixed Assets
Intangible assets				9	7,422,011	7,952,155
Tangible assets				8a	5,472,907	3,172,728
					12,894,918	11,124,883
Current Assets
Debtors					2,109,311	1,321,383
Cash at bank and	in hand				8,282,267	10,777,738
					10,391,578	12,099,121
Creditors: Amounts		Falling	Due
Within One Year				12	(3,877,032)	(7,213,046)
Net Current Assets					6,514,546	4,886,075
					19,409,464	16,010,958
Creditors: Amounts		Falling	Due
After more than	One	Year		13
Total Assets Less Current			Liabilities		19,409,464	16,010,958
Capital and Reserves
Unrestricted income fund				15	19,409,464	16,010,958
Total Funds				15	19,409,464	16,010,958

					Notes	2023	2022
Fixed Assets
Tangible assets					8b	5,028,288	2,623,592
Investments					10	1,802	1,802
						5,030,090	2,625,394
Current Assets
Debtors						8,755,864	8,698,887
Cash at bank	and	in hand				7,875,347	10,003,941
						16,631,211	18,702,828
Creditors: Amounts			Falling	Due
Within One	Year				12	(2,738,150)	(5,821,954)
Net Current	Assets					13,893,061	12,880,874
						18,923,151	15,506,268
Total Assets	Less Current			Liabilities		18,923,151	15,506,268
Capital and	Reserves
Unrestricted	income fund				15	18,923,151	15,506,268
Total Funds					15	18,923,151	15,506,268

			Notes	31-Mar-23	31-Mar-22
Cash flows from operating	activities
Profit for the financial year				3,532,566	2,664,788
Adjustments for: Depreciation oftangible assets				382,931	441,173
Amortisation of goodwill				530,144	530,144
Interest receivable and similar income				141,505	5,904
Interest payable & similar charges Accrued expenses/(income)				(3,103,801)	3,970,778
Changes in:
Trade and other debtors				(787,928)	2,195,006
Trade and other creditors				(366,273)	(5,827,636)
Cash generated from operations				329,144	3,980,157
Interest paid
Interest received				(141,505)	(5,904)
Net cash from operating activities			16	187,639	3,974,253
Cash flows from investing	activities
Purchase oftangible assets			8a	(2,683,110)
Net cash used in investing	activities			(2,683,110)
Net increase/(decrease) in	cash and cash	equivalents		(2,495,471)	3,974,253
Cash and cash equivalents	at beginning	ofyear		10,777,738	6,803,485
Cash and cash equivalents	at end ofyear		18	8,282,267	10,777,738

			Unrestricted	Total	Total
		Notes	Funds	2023	2022
Incoming Resources
Donations and fund raising			58,490	58,490	26,620
Rental Income			330,463	330,463	277,194
EU Grant
Special Services to Hospitals			4,760,569	4,760,569	4,600,831
Other income			1,239,289	1,239,289	152,901
		2	6,388,811	6,388,811	5,057,546
Interest receivable			141,505	141,505	5,904
			6,530,316	6,530,316	5,063,450
Net trading Surplus
from trading subsidiaries		10	2,687,018	2,687,018	2,778,933
Total Incoming resources			9,217,334	9,217,334	7,842,383
			Unrestricted	Total	Total
			Funds	2023	2022
Resources Expended
Direct Charitable Expenditure
Grants for research			2,836,066	2,836,066	3,007,356
Donations			501,245	501,245	500,216
Educational activities			885,220	885,220	221,159
			4,222,531	4,222,531	3,728,731
Other Expenditure
Depreciation			278,414	278,414	335,189
Adrnin and Costs ofGrant	Making		1,183,823	1,183,823	1,113,675
Financial costs
Total Expenditure			5,684,768	5,684,768	5,177,595
Surplus/(deficit) for the year before tax			3,532,566	3,532,566	2,664,788
Tax on Profit of ordinary	activities		(134,060)	(134,060)	129,664)
Surplus/(deficit) for the year after tax			3,398,506	3,398,506	2,535,124

				Unrestricted	Total	Total
			Notes	Funds	2023	2022
Reconciliation	of	Movement
of Funds
Opening funds			15	16,010,958	16,010,958	13,475,834
Surplus of incoming
resources for	the	year	15	3,398,506	3,398,506	2,535,124
Closing funds			15	19,409,464	19,409,464	16,010,958
Non-controlling	interests
				19,409,464	19,409,464	16,010,958
Funds balance	at 31 March 2023
Represented by:—
Intangible fixed assets			9	7,422,011	7,422,011	7,952,155
Tangible fixed assets Debtors less creditors			8a	5,472,907 (1,767,721)	5,472,907 (1,767,721)	3,172,728 (5,891,663)
Cash at bank and		in hand		8,282,267	8,282,267	10,777,738
Provision
				19,409,464	19,409,464	16,010,958

Operating Surplus/(deficit)	Operating Surplus/(deficit)
Operating surplus/(deficit)	is	stated after charging:	2023	2022
			F	E
Rent Payable —premises			905,520	903,648
Depreciation ofowned assets			382,931	441,173
Amortisation of intangible	assets		530,144	530,144
Auditors remuneration			17,764	16,020
Interest Payable and Similar		Charges	2023	2022
			F	g
Bank overdraft and other interest
Staff Costs			2023	2022
			E	E
Salaries and wages Social security costs Other pension costs			3,836,614 409,128 114,233	3,456,564 337,056 104,808
			4,359,975	3,898,428
			2023	2022
Average number of staff during Average number ofstaff during		the year - Group the year - Company	133 59	106 36
No member of staff of the	Charity received a salary greater than F60,000 per annum.

of its objects for the public benefit in early f	etal diagnosis and therapy.
	2023	2022
		F
Individuals	2,836,066	3,007,356

During the year the Charity mad	e the following donations.
		2023	2022
			E
King's College NHS Foundation	Trust	500,000	500,000
Windsor Walk		1,029
Other Donations		216 501,245	216 500,216

Tangible Fixed Assets	- Group
	Freehold	Leasehold	Plant and	Furniture
	Property	Property	Machinery	8 Equip	Total
Cost
At 1 April 2022 Additions	2,683,110	1,693,398	4,125,888	2,387,817	8,207,103 2,683,110
At 31 March 2023	2,683,110	1,693,398	4,125,888	2,387,817	10,890,213
Depreciation At 1 April 2022 Charge for the year		204,049 52,575	3,133,964 198,385	1,696,362 131,971	5,034,375 382,931
At 31 March 2023		256,624	3,332,349	1,828,333	5,417,306
Net Book Value
At 31 March 2023	2,683,110	1,436,774	793,539	559,484	5,472,907
Net Book Value
At 31 March 2022		1,489,349	991,924	691,455	3,172,728

Tangible Fixed Assets	- Company
	Freehold	Leasehold	Plant and	Furniture
	Property	Property	Machinery f	& Equip f	Total f
Cost
At 1 April 2022 Additions	2,683,110	1,680,760	3,860,724	814,825	6,356,309 2,683,110
At 31 March 2023	2,683,110	1,680,760	3,860,724	814,825	9,039,419
Depreciation At 1 April 2022 Charge for the year		192,673 51,313	2,878,588 196,427	661,456 30,674	3,732,717 278,414
At 31 March 2023		243,986	3,075,015	692,130	4,011,131
Net Book Value
At 31 March 2023	2,683,110	1,436,774	785,709	122,695	5,028,288
Net Book Value
At 31 March 2022		1,488,087	982,136	153,369	2,623,592

11	Debtors
						Notes	Group		Company
							2023	2022	2023	2022
							E	F	E	E
Amounts due		from	group company						7,509,900	7,929,537
Trade	Debtors						1,730,505	940,483	1,040,767	551,760
Other	Debtors						15,825	12,885
Prepayments		and	accrued		income		362,981	368,015	205,197	217,590
							2,109,311	1,321,383	8,755,864	8,698,887
12	Creditors: Amounts				Falling Due	Within	One Year
						Notes	Group		Company
							2023	2022	2023	2022
								F	E	E
Amounts due to group Trade creditors				company			1,254,233	1,545,770	156,094 571,071	73,934 644,035
Corporation Tax Other taxes and social				security			132,861 68,610	128,307 31,772	68,610	31,772
Other	creditors						373,000	355,068	10,656	12,205
Accruals and deferred				income			2,048,328	5,152,129	1,931,719	5,060,008
							3,877,032	7,213,046	2,738,150	5,821,954
13	Creditors: Amounts				Falling Due	After More Than One Year
							Group		Company
							2023	2022	2023	2022
							E			E
Other	Creditors
							Group		Company
							2023	2022	2023	2022
							E	F	E	E
Repayable between			one and five years

14	Commitments under Operatin	Commitments under Operatin	Commitments under Operatin	g Leases
	At 31 March 2023 the group			has annual	commitments under	non-cancellable			operating leases		as set out
	below.
					Group				Company
					Land and buildings				Land and	buildings
	Operating leases which	expire:			2023 E		2022		2023 E		2022f
	Within 1 year Within 2 to 5 years After more than 5 years				150,245 599,400 3,633,863		868,025 1,099,887 6,901,228		542,367 499,500 2,992,640		614,175 500,092 3,117,515
					4,383,508		8,869,140		4,034,507		4,231,782
15	Reconciliation of Funds
					Group				Company
					2023		2022		2023		2022
					F		E		E
	Opening accumulated funds - Unrestricted				16,010,958		13,475,834		15,506,268	12,942,493
	Surplus for the year				3,398,506		2,535,124		3,416,883		2,563,775
	Unrestricted Fund				19,409,464		16,010,958		18,923,151	15,506,268
	Share Premium
	Non-controlling interests Total Funds				19,409,464		16,010,958		18,923,151	15,506,268
	Closing accumulated funds -		Unrestricted		19,409,464		16,010,958		18,923,151	15,506,268
	Total Funds				19,409,464		16,010,958		18,923,151	15,506,268
16	Reconciliation ofoperating profit to				net cash inflow from		operating	activities
									2023		2022
	Operating profit Depreciation Amortisation								3,391,061 382,931 530,144		2,658,884 441,173 530,144
	(Increase)/Decrease	in debtors							(787,928)		2,195,006
	Increase/(Decrease)	in creditors							(366,273)	(5,827,636)
	Accrued expenses/(Income)								(3,103,801)		3,970,778
	Interest Payable and Interest receivable	similar charges							141,505		5,904
	Net cash inflow/(outflow)		from operating		activities				187,639		3,974,253
17	Analysis ofchanges	in	cash and cash equivalents during				the year
									2023		2022
									E
	Balance at 1 April 2022 Net cash inflow/(outflow)								10,777,738 ~2,495,471)	6,803,485 3,974,253
	Balance at 31 March	2023							8,282,267	10,777,738

Analy	sis o	fthe ba	lances ofcash and cash	equivalents as shown in the	balance sheet
						Changein
				2023	2022	Year
					E	F
Cash	at Bank			8,266,587	10,766,843	(2,500,256)
Cash	in Hand			15,680	10,895	4,785
Total	cash	at bank	in hand	8,282,267	10777,738 ,	~(2,495,471
				8,282,267	10,777,738	2,495,471