-A¢9iStered nymber.. 02891856 Charity number: 1037738 Mid Stoffordshirp Postgrpdvate Medical Centre (Education) Trustees, Report and Financial Statements for the yeor ended 31 Murch 2024 rfIDAINS
Igradvote Medical Centre (Education) guarantee) Poge Istrative Details of the Company. its Trustees and Advisers les StateTnent Report on the Financial Statements 7- 11 Activities 12 ws 15 .• Statements 16-30
Registered number. 02891836 Charity number- 1037738 Nid Stqfford$hire Postgradu¢te Medical Centre (Education) Trustees, Report and Financial Statements fortho year ended 31 March 2024 rfIDAINS
Mid Stoffordshire Postgraduote Medicol Centre (Educotion) {A company limited by guarantee) Contents Poge Reference and Adminlstrative Details of the Company. its Trustee5 and Advlsers Trustees. Report Trustees, Responsibllities Statement Independent Auditorg Report on the Financial Statements 7- 11 Statement of Financlal Activitle5 12 Balance Sheet 13- 14 Stotement of Cosh Flows 15 Notes to the Financial Statements 16-30
Mid Stoffordshire Postgruduote Medical Centre (Education) IA company limited by guarantee) Reference and Administrotive Details of the Company, its Trustees and Advisers for the yeor ended 31 March 2024 Trustees r BR Gwynn (resigned 16 October 2023) Mrs SJ Preston Mr JC Lotz Mr D Durrons Dr MG Poulson DR W Carroll Dr B Jose (appointed 26 June 2023) DrA Kennedy (appointed 26 June 2023) 'Company registered number 02891836 Charity règistered number 1057738 Registered office Royol Stoke Universlty Hospital Newcastle Road Stoke on Trent ST4 6QG Company sécretory Nr JC Lotz Independent auditors Dolns Audit Limited Suite l Albion House 2 Etrurio Qffice Villgge Forge Lone Etrvria Stoke on Trent STI 5RQ Bankers HSBC 8onk plc 8 Tr4orket Squore Stafford ST16 2JP
Mld Staffordshlre Postgradvate Medlcal Centre (Education) (A compuny limited by guarantee) Trustees. report for the year ended 31 March 2024 The Trustees present their annuol report together with the audited finonciol stotements of the compony lor the uear ended 31 Morch 2024_ The onnual report serves the purposes of both o Trustees, report ond o direttors, report under compong law. The financial statements have been prepared in uccordonce wlth the accountlng policies set out in notes to the occounts and complu with the chority s governing (Jocument. the Charities Act 2022. the Componies Act 2006 ornd Accounting and Reporting by Chorities.. Stotement of Recommended Proctice applicable to choritie5 preparing their occovnt5 in occordance with the Finoncial AepDrting Stondard opplicoble In the UK ond Republic of Ireland published in October 2019. Since the company qualifies os small under section 382 of the Companies Act 2006. the strotegic report required of medium and large cornponies under the Componles Act 2006 (Stroteglc Report ond Directors. Report) Regulations 2013 h05 been omitted. Objectives ond Qctivities a. Pollcles and oblectlves To provide continuing educotion for fully qyolified members of the medlcol ond poromedicol profession. b. Strotègiès for achièving Dbjectives The charity prtsvldes conference, seminor librory ond IT focili'ies for the University Hospitols of North Midlands NHS Trust (UHNM) to en(Jble educotion of generol proclitioners. hospilol doctors and dent15ts. medicol students ond other members of the mvlti-disciplinory teom In Mid and North Staffordshire. The provision of these focilitie5 will enoble the Trust ond other locol heulth providers to ensurè their rnedicol, dep.tol ond poromedicol stoff con offer the highest quality healthcare tD the general public. c. Main activities undertaken to further the company's purposes for the publlc benefit The chority supports locol potient self-help groups by providing free meeting room facilitles und also supports national potient groups by providing focilities for conferences at speciolly reduced rotes. Covid19 restrictlOn5 have now been lilted and foce to foce octivities were welcomed back The charity will continue to provide high quolity service in terms of stoff. leoch,'"ng resources, housekeeping ord moip,tenonce of existing focilities o enable the delivery Df medical and dentul education. Investments in audio visual and computer equlpment ond new nat onol directives for the implementatior) of medicol Iroining will olso On',1nue. The Iruslees hove hod regord to the Charity'5 Commissioll s guidance on public benefit. Page 2
Mid Staffordshire Postgroduate Medical Centre (Education) (A company limlted by guaruntee) Trustee¥ report (continued) for the Year ended 31 March 2024 Achievements and performon¢e a, Review of octiv¢ties Covid19 restrictions hove been lifted and more face to face troining hos returned resulting In the Centre now movin back to full copacity. b. Fundrolslng octivlties and income generotion The company ha5 not undertaken any fundroising activlties in the uear. Financial revlew Results for the year The stotement of financlol octivities is shown on page 11. During the year a defecit of £169.659 htss been mode (2023 surpl¥s of £246,499), At the yeor end. the charity hod ¢arrled forword funds 01 £631.040 (2023 - £8QO.699). b. Reserves policy The charlly seek5 to mointain sufficient unrestricted reserves to enoble Its day to day operotions to continue for ol leost 12 months. c Going concern After mcJking appropriate enquiries, the trustees have a reosonable expectation that the company ha5 adequate Tesources to continue in operational exlstence for the foreseeoble future. For this re050n they continue to adopt the going concern bosis in preporing the financial stoterrients. Further details regording the adtsption of the golng concern basis con be found in the Accountino Policies. '.d. Principal fundin9 .Principol funding is from University Hospittsls ot North Midlands for the hire of the facililie& Structvre. governanco ond managem¢nt a. Constltvtlon Mid Stoffordshire Postgraduate Medicol Centre (EdvcotlDn) 15 regi5tored os o churituble company limited bu ouoroniee ond wos set up by a Memorandum of Association. Page 3
Mid Staffardshlre Postgraduate Medical Centre {Educatlon) (A compony limited by guarantee) Trvstees, report (continued) for the year ended 31 March 2024 Structure. governance ond monogement (continued) b. Methods of oppointment or election o>f Trustees The monogement of ihe compony is the responsibility of the Trustees who ore elected ond co-opted under the terms of the Memorundum of Association. c Organisotional structvre and declsion-moklng policies Doy to doy odmSnistrGtion of the Chority is the responsibility of the Postgroduote Centre Director ond the PGMC Chority Administrotor. In occordonce with the Memorondum and Articles of Associotion. the bvsiness of the Cornpony Is managed by the Council of Monagement. which compri5e5 the Tru51ees. with o minimum of three members. The Council of Management h05 the power to appoint ot ony time anu person to membership ond any such pergon oppoinled 5holl be a member of the cor4pony. d. Pollcies adopted for the Indvctlon and tralnlng of Trustees New Trustees ore usually f amiliar with the work of the Chority. They will receive a copy of the objectives of the Chority. its Terms of Reference. Trustee Annuol Report ond Accc>unts and Minutes of recent meetings and will be briefed by the Choir ond/or the Director 05 required. e. Related porty relationships Close liDk5 Wlth UHNM Tiust have continued throughout the year ond the charity Is extremely grotefvl for oll the help ond support received in providing services such as secLarity. finance, coterirng, mainterlance ond housekeeping. We look forward to Continuing this relationship. f. Aisk monogèmènt The Trustees hove ossessed the mojor risks to which the compony Is exposed. in porticvlor those related to the operations ond finances of the company. and ore satisfied that systems ond procedureg ore in place to mitigoie exposure to the mojor risks. g. Future developments Dve to the exponsion in Foundotion Doctors this year the Centre is concentroting on delivering high quolity Simvlation Training to the Tralnees whilst also expanding the Simulotion Teom to complete what troining is needed to fvlfil the Doctors Portfolits reouirements. The Imagino AcadLkmy is now ond running in Room 6 ond they continue to s4JPPOrt professionol development op,d excellence in rodiogrophy. Poge 4
Mid Staffordshire Post9roduate Medical Centre (Education) (A ¢ompony limited by guarantee) Trustee¥ report (continued) for the year ended 31 March 2024 . Disclosure of information to auditors Each of the persons who ore Trustees ot the time when this Truslee5' report Is approvèd hos confirmed thot.. .so for us thut Trustee Is awore. there Is no relevant audit informotion of which the chorlty's ayditors are unawore, and thot Trustee has taken oll the sleps that Dughi to hove been taken os a Trustee In order to be oware of onu relevonl oudit informotion ond to establish thot the charity's ouditors ore owure of thot informotipn. Approved by order.of the members of the board of Trustees and signed on their behalf by.. Dr M G Poulson Trustee Dgte: li Nr JC Lotz Componu secretary
Mid Staffordshire Postgraduate Medicol Centre (Education) (A company limited bu guarantee) Statement of Trustees, responsibilities for the year ended 31 March 2024 The Tru5tee5 Cwho ore 0150 the dlreclors of the company for the purposes of company law) are respornsible for preporing the Trustees, report ond the finoncial stotements in occordonce with opplicable low and United Kingdom Accounting Standord5 (United Kingdom Generolly Accepted Accounting Practice). Company low requires the Trustees lo prepare finonciol stoiements for eoch flnonciol yeor Under company low, the Trustee5 must not approve the finoncial slotement5 unless they ore sotlsfied Ihot they give a true ond fnir view of the Stote of offoirs of the company and of Its incoming resources ond applicotion of re50urce5. inclvding it5 income und expenditure, for th(Jt period. In preporing these finoncitsl stetements. the frustee5 are required to.. select 5Ultoble occounting policies ond thAn opply them con51Stenlly,' observe the methods ond principles of the Charities SORP (FRS102)', make judgmenTS ond oecovntlng estlmotes thot are reasonable and prudent. stote whether opplicoble UK Accounting Stondards (FRS 102) hove been followecf, subjett to ony moter5al deporture5 disc105ed and exploined in the financi(11 stalemenls.. prepare the firnonciol stotements on the 9oing concern bos1s unless it is inappropriote to presutne thot the company will continue in bb'sine55. The frustees ore responsible for keeping odequote occounting records thtst ore sufficient to show and exploin the compony's transoctioqs ond disclose with reoson.oble occurccy at onu Ilme the finonciol pogitien of the compony und enable thern to ensure that the finonciol statements comply with the Componies Act 2006. -hey ore olso responsible for sofeguaréing the assets of the comp(Jny ond hence for taking reosonoble steps for the prevention ond detection of froud op.d other irregulorities. Approved by Drder of the members of the board of Tru5tee5 ond signed on its beholf by.. Dr M G Poulson Trustee Mr JC Lotz Compony Secretory Dote11 Page 6
Nid StoffL>rdshire Postgraduate Medical Centre (Education) (A company limited by guorontee) Indep"endent Auditors. Report to the Member5 of Mid Staffordshire Postgraduate Medical Centre (Education) Opinion .We hovè audited the finonciol stotements of Mid Staffordshire P05tgrodugte Medical Centre (Educotion) (the 'charilable ompany,) for the yeor ended 31 Norch 2024 which comprise the statement of fintsnciol oclivities. Ihe balonce sheet. the stotement of cosh flows ond the related notes, Including o summory of significant occounting policies. The f Inonciol reporting fromework that has been applled in their preparolion is applicable law and United Kingdom Accovnting Standords. includlng Flnancbctl Reporting Stondord 102 'The Finonciol Reporting Stondord oppllcoble in the UK ond Republic of Irelond, (Uniled Kingdom Generally Accepted Accounting Proctice). In our opinion the financial statement& give o true ond foir view of the state of the charitoble company's offgirs os 0131 Morch 2024 ond of its incoming resources and opplicotion of resources. InclLiding its Income ond expenditure for the yeor then ended.. hove been properly prepared In occordonce wlth United Kingdom Generolly Accepted Accounllng Practice., ond hove been prepared in occordonce with the reouirements ot the Companies Act 2006. Basis for opinlon We conducted our oudit In occordonce wlth Internotlonol Standards on Avditing (UK) (ISA5 (UK)) and oppllcoble low. Our responsibilities under those stondard5 are further described ID the Audltors, responsibilities for the oudit ot the finonciol stotements section of our report. We are independent of .the charitable companu in accordance wilh the ethicol requirement5 thot ore relevont to our oudit of the financial statements in the Un"Èted Kingdom. including the Financiol Reporting Councll's Ethical Stcjndard. and we hove fulfilled our other eihical responsibilities in occordance wlth Ihese requirements. We believe Ihot Ihe oudil evidence we hove obtalried Is sufficient ond oppropriate to provide o basis for our opinion. Concluslons reloting to going concern In aL*ditirTrg the financlol slatemenls. we have concluded that the Trustees, use of the going concern basis of accounting In the preporalion of the finoncial statement5 is Qpproprlote, Bosed on the work we hove performed. we have not identified ony moterlal uncertointies reloting to events or conditions that, individually or collectivelu. moy cast 5ignificont doubt on the choritoble company's ability to continue 05 a going concern for a perlod of at least twelve months from when the finonciol stotements are outhorised for Issue. Our responsibilities and the respon51bilities of rhe Trustee5 With respect to goin9 concern ore described in ihe relevonl seclions Df this report. Page 7
Nid Staffordshire Postgraduate Medical Centre (Edvtution) (A company limited by guorantee) Independent Auditors, Report to the Members of Mid Staffordshire Postgraduate Medical Centre (Education) (continued) Othèr informotion The other informotion comprises the information included in the annual report other than the financial stotements and our oudltors, report thereon. The Tf Ustees are. responsible for the other information contained within the onnyal report. Our opinion oft the finonciol stutements doe5 not cover the other informotion ond, except to the extent otherwise explicitly sloted in our report. we do not express ony form ol ussuronce conclusion Ihereon. our responsibility Is to reod the other inforrnation ond. in doing 50. consider whether the other informotion is moteriolly inconsistent with the finoncial statements or our knowledge obtoirned in the course of the oudit. or otherwise appears to be motoriolly misstoted. If we identify such moteriol inconslstencies or opporent moteriol m.Isstotements, we ore requlred to determine whether this give5 rise to o moterial misstatement in the finor,cial 5totements themselves. If. bosed on the work we hove performed, we conclude th£2t there Is o moterial rnisstalement of this other Informulion. we are reqvired to report that foct. We have nothing to report in this regord. Opinion on other matters prescribed by the Companies Act 2006 In our opinion. b05ed on the work undertaken In the Coiirse of the audit." the Informotion given in the Trusteeg, rèport for the financlol yeor for which the finoncial gtotements ore prepored is con515tent with the finonciol stotements. the Trustees, report h05 been prepored in occordonce with opplicoble legol reqvirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the choTltable cornpany and its envlronment obtolned in the course of the oudit. we hove not identifièd materiol mi55totements in the Trustees, report. We hove nothing to report in respect of the following mntter5 in relotion to which Companies Act 2006 requires us to report to you if, in our opinion.. adequote occounting records have not been kept. or returns adequote for our oudil hove not been received from brc7nches not V151ted by us.. or the finonciol stotements ore not in ogreement with the occounting records ond returns.. or certain disclosures of Trustees. remuneration specified by low ore not made., or we hov2 not received oll the informolion ond explonotlons we require for our oudit., or the TfLlSta=5 were not eniitled to prepare the financiol stotement5 in occordonce with the small companie5 regime ond toke odvontoge of the small companies. exemptions in preporing the Trustees, report and frorn the requirement to prepare a Sirotegic repon. Poge 8
Mid Staffordshire Postgraduate Medical Centre (Education) (A company limited by guarontfte) Independent Auditors. Report to the Members of Mid Staffordshire Postgraduate Medical Centre (Education) (continued) Responsibilities of truste¢s As explair)ed more fully in the trustee5' responsibilities stalement. the Trustees (who ore ulso the directors of the choritoble company for the purposes ot company low) oro responsible for the preporution o* the financiol slotements ond for being satisfied that they give o true and fair view, and for such internal control os the Trustees determine 15 necessary to enoble the preparation of finonciol statements that ore free from material misstotement. whether due to froud or error. In preparing the finonciol stotements. the Trustees ore responsible for a55essing the choritoble company's obility to continue 09 a golng concern. digclosin9. as applicable. matters related to going_¢oncern and using the going concern basis of occountlng unless the Trustee5 either intend to liouidote the charltoble compony or to ceose operotion5. or hove no reolistic olteinotive but to do so. Auditors, responsibilities for the audit of tho financial statements Our objective5 ore to obtoln reasonable ossvronce ubovt whether the finonclal stotements os o whole are free from material misstatement. whether due to fruud or error, ond to issue an ouditors, report that includes our opinion. Reosonoble assurance is o high level of ossvronce. but is not o ouarantee thot an oudit conducted in accordance wlth ISA5 CUK) will olwous detect o moterial misstotement when it exists. Misstatements can orise from froud or error and ore considered material if. individually or in the aggregote. they could feasonobly be expected to influence the economic decisions of user5 token on the bosis of these financiol statements. Irregulorilies, including froud. ore instances of non-compliance with lows ond regulotions. We design procedvres in line with our responsibililie5. Outlined obove. to detect muteriol misstatement5 in respect of irregularities. Including fraud. The extent io whlch our procedures are capable of detecting irregularities. including fraud Is deloiled below.. Our opprooch to identifying and a55e5sing the risks of motericjl misstotement in respect of irregularities. including froud ond non-complionce with lows and regulotSons. wos os follows.. the senior statutory ouditor ensured that the engogement team collectively had the appropriate competence, copobilitles ond skills to identif y or recognlse non-complionce wlth applicable lows ond regulotions,. we identified the lows ond regulotitsns opplicable to the choritable compony through discussions with trustees and other mano9ement, ond from our commerciol knowledge and experience of the sector.. we focused on specific lows and regulotions which we considered moy hove u dlrect moteriol effect on the finonciol stotements or the operotions of the charitab5e comp(Jny, including the financiol reporting legislolion. Companie5 Act 2006. tuxolion leg151otion. onti-bribery. employment, and environmental ond heolth ond safety legislation: we osses5ed the extent of compliance wirh the lows ond regulation5 identified above through moklng enquiries of rnonagement and inspecting legol correspondence" ond identified lows ond regulation5 were communicoted within the audit team regularly ond the leom remoined olert to instonces of non-compliance thi-oughout the cjudit.
Mid Staffordshire Postgraduate Medical Centre (Education) (A company limited by gvorontee) Independent Auditors, Report to the Members of Mid Staffordshire Postgraduate Medical Centre (Edvcation) (ctsntinuÈd) We ossessed the susceptibilitu of the choritoble componu's finonciDI statements to moteriol mlsstotement. Including obtoining un understanding of how fravd might Dccur. by.. making enquiries of moncigement a5 to where they considered there wos SU5ceptibility to froud, their knowledge of ocruol. suspected ond olleged fraud-. ond considering the internal controls in ploce to mitigate risks of fraud ond non-compliance with lows ond regulotions. To oddress the risk of frcsud through management bi05 ond override of controls. we. performed analytical procedures to identify any unusuol or unexperted relationships.. tested journol effltries to Identify unusual transactlgns.. ossessed whether judgement5 and assumptions mode in delermining the accounting estimote5 set out in Note 2 were indlcotive of potentiol bios.. ond inve5tigoted the rationole behind significont or unusuol tronsoction5. In response to the risk of irregulorities ond non-complionce with lows ond regulotions. we designed procedures which included. bvt were not limited to.. ogreeing finonciol statement disclosures ro underlying supporting documenlotlon., reoding the minvtes of meetings of those choroed wlth oovernDnce'. enqviring of munogement as to actual ond potentiol Iitigotion and cloims". and reviewing correspondence with HMRC. relevunt regulators und the charitoble compeny's legul Ddvisors. Because Df the inherent limitations of an oudit. there 15 0 r15k thot we will not detect Cs11 Irregulorities. including those leoding to a material misstotement in the finoncial 5totements or non-complionce with regulotion. Thls risk Increoses the more thut compliunce with o low Dr regulotion is remc>ved from the events and tronsactions reflected in the flnoncial Stotement5. os we will be less likely lo becom- owore of instonces of non-compliance. The risk Is olso greater regordino Irregulorities occurrlng due to frovd rother ihon error, os froud involves intentiontsl coneeolment. forgery. collusion. omission or misr&presenlation. A further description of our responsibilities for the oudit of the financial stotements is locoted on the Financial Reporting Council's website ot.. www.frc.or avditorsres onslbilitles. This description forms part of our ouditor5' report. Poge 10
Mid Siaffordshlre Postgraduate Medical Centre (Education) {A company limited by guarantee) Independent Avdltors, Report to the Members of Mid Staffordshlre P05tgmduate Medical Centre (Education) (Continued) Use of our report This report Is made solely to the charitable company's members. a5 a body. in accordance wlth Chapter 3 of Part 16 of the Compunles Act 2006. Our ovdit work hos been undertoken so that we mlght state to the choritoble compony's Inembers those motters we ore required to stote to them in on oudltors, report and for no other purpose, To ihe fullest extent per.mitted by law, we do not occept or 05sume responsibilitu to anyone other thon the charltable compony and ' Its members. as o body. for our nudit work, for thls report. or for Ihe opinions we have formed. Jonothan Dudley (Senior statutory ouditor) for and on beholf of ains Audit Llmlted Stotutory Auditor Chartered Accountants Svlte 2. Albion House 2 Etrurla Office Villoge Forge Lone Etrurlo Stoke on Trent ST15RQ Date..
Mid Stoffordshire Postgraduate Medical Centre (Education) (A company limited by guarantee) statement of financial activities Cincorporating income and expenditure occount) for the year ended 31 March 2024 Unrestricted fvnds 2024 Rtrstricted fvnds 2024 Total TDtol funds 2023 funds 2024 Note Income from.. Choritoble activltles 94.059 9.000 103.059 431.286 Total Ineomè 94.059 9,000 103.059 431.286 Expenditure on.. Chorltoble octlvltles 122.102 150.616 272,718 184.789 Total expenditure 122,102 150.616 272.718 184,789 Net movement in funds (28.043) (141.616) (169.659) 246.497 Reconciliotion of f unds.. Total funds brought forword 247.770 552.927 800.697 554,200 Net movement in funds (28.045) (141.616) 069.659) 246,497 Total funds carrled fon¥ard 219.727 411.511 651.038 800.697 The Statement c)f Finonciol Activities includes oll goins and losses recognised in ihe yeor. The notes on poge5 16 to 30 form port of these finonciol stotements. Paoe 12
Mid 5toffordshire Postgraduate Medical Centre (Educotion) (A company limlted by guarantee) Registered number: 02891856 Bolonc¢ sheet As at 31 March 2024 2024 . 2023 Note Fixed ossets Intangible assets Tangible ossels 11.484 14.616 535.2BO 618.604 546.764 633.220 Current assets .Debtors 18.387 18,047 Cash ot bonk and In hand 73.187 15&296 Total Current Assets 91,574 174,343 Creditors.. amounts falling due within one year 10 (7.500) {6,866) Net rurrent Q55etS 84,274 167.477 Total ossets less current liabilities .651.038 800,697 Total net assets 631.038 800.697 . Chority funds Restrlcted funds 411,311 219.727 552,927 .Unrestricted funds 247,770 Totol funds 631.058 600.697
Mid Staffordshire Postgraduate Medical Centre (Education) (A company limited by guarantee) Registered number: 02891836 Bulance sheet (continved) As at 31 March 2024 The Tru5tee5 acknowledge their responsibilities for complgin9 Wlth the requirements of the Act with respect to accounting records ond preporotion of finonciol statements. The finoncial stotemen:s have been prepared in occordance with the provlsions opplicoble to entities subject to the small companies regime. The finonciol stotemenls were opproved ond outhori5ed for issue by the Trustees ond signed on thelr beholf by.. /LIA Dr M G Poulson Trustee Dote". JC Lotz Company Secretary The notes Dn poges 16 to 30 form port of these finonciol stotements. Poge 14
Mid Staffordshire Postgroduate Medicol Centre (Educatlon) (A companu limited by guurantee) Statement of cash flows for thè year ended 31 March 2024 2024 2023 ash flows from operoting activlties Net cosh from operoling octivities 367.679 ' Cash flows from Investing activities Purchose of tangible fixed assets {94.524) (376.347) Net cash used in investing octivities 194.524) (576.347) Cash flows from financing activities Net cash provided by financing activities Chongo in cqsh and cash equlvalents In the year (83.109> (8.668) C05h ond cash equivalents gt the beginning of the year 154296 .164.964 Cash and cash equivolonts at the end of the yeur 73.187 156.296 The notes on poge$ 16 to 30 fomi port of these financigl stotements Pooe 15
Mid Staffordshire Postgraduote Medicol Centre (Education) (A compony limited bu guorantee> Notès to the finaneial statements for the year ended 31 Murch 2024 Aceountlng pollcles 1.1 8asis of preporotion of finonciol stotements The choritu con5titute5 a public benefit entity as defined by FRS 102. The finonclol stotement5 hove been prepored in occordonce with the occounting policies ser out in notes to the accoup.ts ond comply with the chorltys governlng document. the Chorities Act 2022, the Companie5 Act 2006 ond Accounting and Reporiing by Choritie5.' Stotemenl of Aecommended Proctice applicoble to charlties preporlng their occounls in accordonce with the Finoncial Reporting Standord applicoble in the UK ond Republic of Irelond published in October 2079. The finoncicjl stotements are presentecl in sterling which is the functionol currency of the chority ond rouncled to the nearest £. The significant occountlng policleg opplied in the preporotion of these financiol stotements ore set out below. These policie5 hove been con515tently opplied to oll years presented unless otherwise stoted 1.2 Company stutus The compony is a compony limlted by guorontee The members of the compony are the Trustees named on poge 1 In the event of the compcsny being wound up. the liobilltu in respect of the guarontee ig limited to £1 per member of the cornpony. 1.3 Gging concern The flnonciol stotements have been prepured on o going concern basis. The trustee5 osse55 whether the v5e of going concern is appropriote i.e. whether there ore any moteriol uncertointies related to events or conditions that moy cast significant doubt on the obility of the chority to continue os o going CDncern The trustees make this ossessmenl in respect of o period of one year from the date of opprovol of th- financial statements. 1.4 Income All income is recognised once the componu hos entitlement to the income, it is proboble Ihot the income will be received and the amount of income receivoble con be measured rellobly. 1.5 Expenditure Expenditure is recognised once there is o legol Dr CDnstruclive Dbligotion lo trc3nsfer economic benefit to o third PQTrty. it is orobable that a transfer of economic benefits will be required in settlement and the amovp.t of rhe obligation can be meosured reliobly. Expenditure 15 c1055ified by octivity. The costs of eoch oclivity are mcJde up of the totol of direct costs ond shared costs. including support costs involved In undertaking eoch activity. Direct costs ottributable lo o single octivity arè allocoted direttly lo thot c)ctivity. Shored costs which contribute to more thon one gctivity und support C05t5 which ore not attributoble to 0 single octivity ore opportioned between those octivities on o basis con51Stent with the use of resources Centrol stoff costs are ollocoted on the bo5is of time spent. ond deprecioiiorn chorges ollocoted on the portion of the ossel's Use. Page 16
Mid Stoffordshire Postgraduate Medicol Centre (Educotipn) (A company limlted by gtjorantee) Notes to the *inuncial statpments for the year ended 31 March 2024 Accounting policies (continued) 1,5 Expenditure (continued) Support costs ore those costs incurred directly In support of the expenditure on the object5 of the company ond inclvde project manogement carried out ot Heodqvort¢rs, Charitable octivlties ond GDvernonce cos.ts ore ¢osts Incurred on tho compony's operation& including support costs ond cost5 reloting to the governonce of the compony apportioned to chorltable activllies. 1.6 Intangible assets ond omortisotion Intangible assets gre initially recognlsed crt cost. After recognilion. vnder the cost model, intangible ossets ore measured at cost less ony occumuloted omortisotion ond ony occumuloted fimpalrment105ses. Amortisation is provided on intanglble assets ot rotes colculoted to wrile off th¢ rost of eoch Osset on o stroight-line b0515 over Its expected useful Ilte. Amortisotion 15 provided on the followlng bosis.. Computer softwore 20 % Stralght line 1.7 Tangible fixed assets and dopr¢ciotion Tangible fixed assets are corrled ot cost. net of depreciotion gnd any provision for Impalrment. Depreciotion 15 provided ot rotes calculated io write off the cost of fixed os5ets. less their estimated residuul value. over their expetted usef ul Ilveg an the fallowing boses." Long-.term leosehold property- Office equipment Over the life of the lease 20% stroight line A toi I ". rent of c f.:xee a>et .¢ rGi r'e.J c.Ji if e'rferLS or c ar.yes n cir=i..•sto, -es I9.._ate tyat c:. t.e reOerable S-L•.1fo'ls L4e.'.%ee- t ie c= sare.e ..g ..Se Oi im?0 rrrirr.:s. lrnrfo.. m=.i-. lJ-seJ _ crFJr.Jtif9 i.?2 -xper..eiLJ'.- CCCTrvJr.t. Ci>.t> Cfjc the.r re,:e. Jb.'e .Oi1-: tJ-.eme.- )t f:" 1.8 Inte. è5t receivoble -> h-ld ci rec>Lre. r=1 OJ.:., b Ig. t li 1> 1kn4rm.2": n?-':f O.- G'i t. 1.9 Debtors -¢ ot the >lt..= Prrp" yTr.e1-.5 - ".>CO_r.ti d..:.
Mid Staffordshire Postgroduote.Medicol Centre (Edvcution) (A company limited by guarantee) Notes to the flnancial statements for the year ended 31 March 2024 Accounting policies (continued) 1.10 Cash ot bank and in hand Cosh ut bank ond hon¢Y Includes cosh ond short-lerm highly liquid investments with a short moluriiu of three months or less from the dote of Trcqui5ilion or opening of the dep05I1 or 51milor account. 1.11 Ltabilities ond provisions Liabilities ore recognised when there is on obligotion ot the balonce Sheet date 05 o result of o p05t event, it Is proboble thot o tronsfer ol economic benefit will be reqvirecl in settlement, and the amount of the selllement con be estimoled reliobly. Llobllitles ore recognised ot the omount thut the compony onticipotes it will poy to settle the debt or the amDunt Il has received as advonced poyments for the goDds or services it must provide. Prov15ions ore meosured ot the best estimate of the amounts required to settle the obligotion_ Where the effect of the time value Df money Is moteriol, th.e provision is bosed on the present value of those omounts, discounted ot the pre-tax discount rate that reflects the risks specific to the liobility. The unwinding of the discount Is recognised in the stotement of finonciol octlvities os o finunce cost. 1.72 Financial instruments The compony only ho5 fingnciol o55ets ond finonciol liobilitie5 Qf o kind thot quolify 05 bosic finonciol Instruments. B05ic finoncial irTrstruryients ore Initiolly recognised at transaction value and subsequently meosured ot their settlement volue with the exception of bonk loans which ore subsequently measured ot omortised cost Using the effective interest method. 1.13 Fund accountlng Generol funds ore vnrestrlcted funds whlch are ovoiloble for use ot the dlscretlon of the Trustees In furtheronce of the general objectlves of the compuny ond which hove not been designoted for Dther purposes. Deslgnated funds comprise unregtricted funds that have been set aslde by the Trustees for porticular purposes The oim ond use of each designoted fund is set out in the notes to the financiol srotement5. Flestricted fund5 ore f unds which are to be used in accordance with specific restriction5 imposed by donor5 or which hove been roised by the compony for porticulor purposes. Th.e cost> of ruising ond odminisTering such funds are chorged agoinst the specific fund. The aim and use of each restricted fvnd is set out in the notes to the finonciol 5tatement5. Poge 18
'Nid Staffordshire Postgroduate Medicul Centre (Educution) (A CDmpany limited by guorantee) Notes to the financial statements for the year ended 31 March 2024 Critical occounting estimates and areus of judgment Estimotes and judgments are continually evoluoted and are based on historicol experience csnd other fottors. Including expectatlons of f uture events that ore believed to be reasonoble under the circumstonces. Critical aFcountin9 estimotes ond 0sSVrnPtions.' The company inakes estlmotes ond.o55umptions concerning the f uture. The resulting occounting estimates and ossumptions will, by dèfinition. seldom equal the reloted octuol results. The eslimotes and 05sUrnPtions thot hove a significant risk of causing o material adjustment to the corrying omounts of o55ets and Iiabililies within the next finonciol year ore discussed below. There are no estimotes or judgements that manogement would like to bring to the reader5 attention. Income from charitable activities Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Grant funding Neetings income Course fee income 5.400 5.400 85,191 85.191 8.500 8.500 Other income 368 368 Simulotion bookings 3.600 3.600 94.059 9.000 105.059 Poge 19
Mid Staffordshire Postgraduate Medical Centre (Edvcotion) (A compony limited by guarantee) Notes to the finon¢iol statements for the year ended 31 March 2024 Income from charitable activities (continued) Unrestricted fund5 ?023 Restrlcted funds 2023 Totol funds 2023 Gront funding Meetings income Course fee Income 332,375 352.375 83,755 83,755 10,770 10,770 Other Income 386 386 Slmulotlon bookings 4,000 4.000 94.911 336,375 431.286 Analysis of expenditvre on charitable tsrtNities Unrestricted funds 2024 Restricted funds 2024 Total 2024 Educotionol activities 122.102 150.616 272.718 Unrestricted funds 2023 Restrlcted funcis 2023 Totol 2023 Educotionol tsctlvitles 100.966 83.823 184789 Pooe 2D
Mid Stoffordshire Postgraduate Medicgl Centre (Educution) (A compuny Ilmited by guarantee) Notes to the finonclal statements for the year ended 51 March 2024 Analysis of expenditure by octivities Activities undertaken directly 2024 Support costs Totol funds 2024 2024 Educational activities 5.472 267.246 272,718 Aclivities undertoken directly Support C95ts 2023 2Q23 Totol funds 2023 'Educotionol octivitles 1.228 .183.561 184.789 Anolysi5 of dirett Costs Total funds 2024 Total f unds 2023 Cutering Course moteriols 2.583 I,o&o 2.889 148 5.472 1.228 Poge 21
Mid Staffordshire Postgradvote Medicol Centre {£ducation) (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Analysis of expenditure by octivities (continuod) Analysis of support costs Totol fvnds 2024 Totol funds 2023 Depreciotion ond omortisotion Solory rechorge5 Monogement fees Auditor5 remunerDtion 179.567 126.829 2.349 13.680 13.680 6.210 6.570 Equipment maintenance Building mointenonce Insurance 7.662 5.779 36,782 2.820 16.659 14.469 Other costs 4.767 11,065 Disposol of fixed assets 1.415 267.246 183,561 Net income/(expenditure) This 1$ Stated after chorging.. 2024 2023 Depreciation Df tongible fixed asset5 . owned bu the chority Amort150tion of intongib1e fixed ossels - owned by the chority LOSS on disposal of ossets 176.453 125785 5.132 1.044 1.415 180.980 126.829 During the yeor. no Trustees receiveol r)ny remuneration (2025 - £Nij) During the yeor. no Trustees received any benefits in kind (2025 £Nil) During the year. no Trustèes received ony i-eimblirsement of expenses (2023 - £Nil) Poge 22
Mid Staffordshire Postgroduute Nedicol Centre (Edvcation) (A ¢ompuny limited by guarantee) Notes to the financial s¢otements . for the yeor ended 31 Narch 2024 Intanglble assets Computer software Cost At1 April 2023 15,660 At 31 March 2024 15.660 Amortisotlon At l April 2023 Charge for the yeor 1.OH 3.132 At 31 Morch 2024 N¢t book value . At 51 March 2024 11.484 At 31 Norch 2Q23 14.616
Mid Stoffordshlre Postgroduute Medic¢Jl Centre (Educgtlon) (A company limitecl by guarantee) Notes to the financial statements for the yeor ended 31 March 2024 Tungible fixed assets Long-term leasehold property Office eqLtipment Total Cost or valuotion At 1 April 2023 Additlons 26.707 1.008.493 1.035.200 15.420 79.104 94.524 Disposols (56.997) (56.997) At 31 f4urch 2024 42.127 1.030.600 1.072.727 Depreclatlon At l April 2023 12.525 404.071 416.596 Churge for the yeor On di5pos015 1.577 174.856 176.435 (55.582) (55.582) At 31 Mo7rch 2024 14.102 525.545 537.447 Net book valve At 31 March 2024 28.025 507,255 555,280 At 31 March 2023 14.182 604.422 618.604 Debtors 2024 2023 Trode debtor5 7,982 8.337 Prepoyments ond occrued income 10.405 9.710 18,387 18.047 Poge 24
Nid Stoffordshire Postgroduute Hedical Centre (Education) (A company limited by guarantee) Notes to the financial statements for the yepr ended 31 March 2024 .Creditors: Amount5 falling due wlthin one year 2024 2025 Accruals and deferred income 7.300 6.866
Mid Stoffordshire Postgroduote Medical cent (Education) (A company limited by guarontee) Notes to the financlal statements for the year ended 31 March 2024 11. Stotement of funds St¢Jtement of funds - current year Balance at 1 April 2023 Balance at 31 Morch 2024 Income Expenditure Unrestricted funds Designoted fund$ Designoted Funds 504 (504) General funds General Funds 247.266 94.059 021.598) 219,727 Total Unrestricted funds 247.770 94.059 (122.102> 219.727 Restricted funds GP VTS restricted fiJnd 21.309 (2.583) 01,511) 18.726 Innovotion ond development funds SIM development fund5 34.433 22.922 98.101 3.600 (59,445) 42.256 Training ond development fund Imaging academy 72.249 (9.522) 62.727 326.835 5.400 (67.555) 264.680 552,927 9.000 050.616) 411.311 Total of funds 800.697 103.059 (272,718> 631.038 Page 26
Mid Stoffordshire P.ostgruduDte Medical Centre (Education) (A company limlted by guarantee) Notes to the financial statements for the year ended 31 Morch 2024 11. Statement of funds (continued) Statement of funds - prior year Ealance at 31 Morch 2023 Bolonce ot 1 April 2022 Tronsfers inlout Income Expenditure Unrestricted funds .Designoted funds Designated Fvnds 1.338 (2.349) 1,515 504 General funds General Funds 252.487 94.911 (98.617) (1.515) 247.266 Total Unrestricted fynds 253.825 {100.966) 247.770 Restricted funds GP VTS restricted fund 22.389 (1,080) 21.309 1rinovotlon ur)¢ developmenl 45.943 (11,510) (59,437) 34.433 SIM development funds Troining and development fund Imoging academy 153.536 98.101 (6.256) 72.249 332.375 . (5.540) 326.835 300.375 336.375 (83.823) 552,927 Total of funds 554.200 431,286 (184.789) 800,697 p?e21
Mld Staffordshire Postgroduate Medical Centre (Edvcation) (A company limited by guaruntee) Notes to thè financial statemènts for the year ended 51 Morch 2024 11. Stotement of funds (continued) Details of fvnds.. rhe trustees hove deslgnated fund5 for the undergroduate medical school development. Generol funds ore unrestricted funds for use in pursuonce of ihe chority's objecllves. The bolance on the GP VTS scheme is to be used for the running c0515 of the scheme. Innovution ond development funds are to provide a new Wi-Fi syslem/lechnology for doctors and delegates accessing th? Postgroduate Centre. SIM development funds have been received from Health Educotion England in order to develop u Simulotion Training Unlt/Polient Sofety Centre In the RAB Thomos Lecture Theotre. Training and development funds support troining for stoff. Imoging ocademy - HEE funding was secured to support development of o Midlonds Imoging Academy, delivering training to the School of Ro7diology. Post graduate Radiography. Medical Physic5. and Rodiology Nursing 12. Analysis of net assets between funds Analysis of net as5et5 between funds - current period Unrestricted fvnds 2024 Restricted funds 2024 Totol funds 2024 Tangible fixed ossets Intongible flxed ossets Curreni assets 209.952 325.328 535.280 11.484 11.484 17.075 74.499 91.574 Creditor5 due within one year (7.500) (7,300) Total 219,727 411,311 631.058 Poge 28
Mid Staffordshire Postgraduate Nedical Centre (Educqtign) (A compony limited by guarunteè) Note5 to the flnoncial statements for the year ended 31 March 2024 12. ""Analysis of net assets between funds (continued) Analysis of net assets between fund$ - prlor period Unrestrlcted funds Restricted fvnds 2023 Tptol funds 2023 Tongible fixed osset5 Intangible flxed ossets Current assets 176.828 . 441.776. 618.604 14.616 77,808 96.535 174J43 Creditors due wlthln one yeor (6.866) (6,866) Total 247.770 552.927 800.697 13. Reconciliotion of net riiovement In f unds to net cosh flow from operoting octivities 2023 Net income/expenditure for the period Cas per Statement of Flnonclal Activities) 069,659) 246.497 Adjustments for: t-"or= cnargea 176.455 aas 0.7 tk_.e s. . TIX?0 C>>eta 1.415 -'ecrea>e/.jncvtto li i kneF4lJr eSe. i. ) Ci e.d:_ 434 {li.6IOj Net cosh provided by operoting activities
Mid Staffordshire Postgroduute Medicol Centre (Educotion) (A compciny limited by guarantee) Notes to the flnanclal statements for the yeor ended 51 March 2024 14. Analysis of cash and cash equivalents 2024 2023 Cash in hond 73.187 156,296 Total cash and cash equivolents 75,187 156,296 15. Analysls of changes In nèt debt At l April 2023 At 31 March 2024 Cash flows Cash ot bonk ond in hond 156.296 (83.109) 73.187 156.296 (83.109) 73.187 16. Related party transoctions The charity is related by way of commrjn trustees to Mid-staffordshire Medical Education CÉntrÈ, whoge rincipol octivity is thot of fundroi5ing in relotion to Ihe development of medicol -ducotion focilitie5 in Mid Stoffordshire. The chorlty occuples o buildino owned bu the related chorlty rent free. The chority poid the avdit *ee of £850 (2023 - £825) including VA T on beholf of the reloted chority during the yeor. The charity registered office of the reloted chorily Is Covnty Hospital. Weston Rood. Slaflord. ST16 35A. None of the trustees have been paid any remunerolion or received any other benefits from an employment with their chorify or o relored entiry. 17. Controlling porty The chority is controlle(J by the trustees who ore 0150 the director> Page 30