##
##
|Trustees||Mr E R Evans, Chairman|Mr E R Evans, Chairman|
|---|---|---|---|
|||Dr 8AAshton||
|||Mrs V Edwards||
|||Mr R Freeman||
|||Prof W Masry||
|||Mrs L Osselton||
|||Mr R Lumby||
|||MrJS Bratt||
|||Prof. S Roberts||
|||Dr G E R Thomas||
|Charity number||1044906||
|Company|number|02992437||
|Registered|office|Arthritis
Research|Centre|
|||RJAH Hospital||
|||Oswestry||
|||Shropshire||
|||SY107AG||
|Auditor||Wenn Townsend||
|||30St Giles||
|||Oxford||
|||OX1 3LE||
|Solicitors||Hatchers
Solicitors|LLP|
|||Thornes
Hall||
|||Castle Street||
|||Shrewsbury||
|||Shropshire||
|||SY1 1DA||
|investment|advisors|Barclays Wealth||
|||Windsor Court||
|||2nd Floor||
|||1-3VAndsor Place||
|||Cardiff||
|||CF103BX||
##
##
|||Page|
|---|---|---|
|Trustees report|||
|Statement
ofTrustees|responsibilities||
|Independent
auditor's|report|7-9|
|Statement offinancial|activities|10-11|
|Balance sheet|||
|Notes tothe financial|statements|13-30|
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||||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds||
||||2022|2022|2022|2022|
|||Notes|E||f|F.|
|InumuUrgm;|||||||
|Donations
and legacies|||104,729||16,553|121,282|
|Charitable
activities|||64,681||75,000|139,681|
|Investments|||54,254|||54,254|
|Total income|||223,664||91,553|315,217|
|Raising funds|||64,366|||64,366|
|Charitable
activities|||232,270||59,857|292,127|
|Total resources expenses|||296,636||59,857|356,493|
|Net gain on investments|||89,303|||89,303|
|Net Incoming/(outgoing)|resources||16,331||31,696|48,027|
|before transfers|||||||
|Gross transfers
between|funds||(28,879)|108,245|(79,366)||
|Net income/{expenditure)|for the year:||(12,548)|108,245|(47,670)|48,027|
|Net movement
in funds|||||||
|Fund balances
at 1 April|2021||80,000|2,263,881|1,200,588|3,544,469|
|Fund balances at 31March 2022|||67,452|2,372,126|1,152,918|3,592,496|
##
##
||||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds||
||||2021|2021|2021|2021|
|||Notes||E|E||
|lrmum~|||||||
|Donations
and legacies|||222,428||42,289|264,717|
|Charitable
activities|||32,670|||32,670|
|Investments|||41,103|||41,103|
|Total income|||296,201||42,289|338,490|
|Raising funds|||59,707|||59,707|
|Charitable
activities|||202,679||46,686|249,365|
|Total resources expenses|||262,386||46,686|309,072|
|Net gain on investments|||275,709|||275,709|
|Net incoming/(outgoing)|resources||309,524||(4,397)|305,127|
|before transfers|||||||
|Gross transfers
between|funds||(303,691)|305,825|(2,134)||
|Net income/(expenditure)|for the year.||||||
|Net movement
in funds|||5,833|305,825|(6,531)|305,127|
|Fund balances at 1 April|2020||74,167|1,958,056|1,207,119|3,239,342|
|Fund balances at 31March 2021|||80,000|2,263,881|1,200,588|3,544,469|
##
##
|AS AT31M|A|RC|H 2022||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||2022|||2021||
|||||Note|||||||
|Fixed assets|||||||||||
|Tangible assets||||12|||1,247,393|||1,285,193|
|investments||||13|||1,682,227|||1,607,141|
||||||||2,929,620|||2,892,334|
|Current assets|||||||||||
|Debtors||||15|3,193|||6,756|||
|Cash at bank and||in hand|||738,487|||691,017|||
||||||741,680|||697,773|||
|Creditors: amounts|||falling due||||||||
|within one year||||17|(78,804)|||(45,638)|||
|Net current assets|||||||662,8?6|||652,135|
|Total assets less||current liabilities|||||3,592,496|||3,544,469|
|Net assets|||||||3,592,496|||3,544,469|
|Income funds|||||||||||
|Restricted
funds||||20|||1,152,918|||1,200,588|
|Unrestricted
funds'.|||||||||||
|Designated|funds||||||2,372,126|||2,263,88'I|
|Unrestricted|funds||||||67,452|||80,000|
|Total unrestricted||funds|||||2,439,578|||2,343,881|
||||||||3,592,496|||3,544,469|
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|Donations
and legacies|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|||
||2022f|2022
f|2022|2021f|
|Donations and gifts|17,229|16,553|33,782|54,148|
|Legacies|87,500||87,500|210,569|
||104,729|16,553|121,282|264,717|
|Forthe year ended 31 March 2021|222,428|42,289||264,717|
|||||CI|0||CI||||
|---|---|---|---|---|---|---|---|---|---|---|
|||I||ID|CD||«D||||
|||CI
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||I0||||«D|I|«D|CO
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##
##
||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||Funds|funds|
||||||2022|2021|
|||||||F|
|Income from||listed|investments||40,313|40,173|
|Loan note|interest||receivable||13,880||
|Bank interest||receivable|||61|930|
||||||54,254|41,103|
|Raising funds|||||||
||||||2022|2021|
|||||||F|
|F
dr
isin|and||ublici||||
|Staging fundraising|||events and related costs||2,156|2,705|
|Staff costs|||||26,502|26,600|
|Fundraising|and publicity||||28,658|29,305|
|Courses|d|educational||events|||
|Course expenses|||||5,876|504|
|Staff costs|||||25,006|25,543|
|Course costs|||||30,882|26,047|
|vestment||ana|me||4,826|4,355|
||||||64,366|59,70?|
##
##
|||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||F|
||Depreciation
and|||impairment||||||37,800|37,800|
||Research and laboratory||||||equipment|||98,582|95,225|
||Education,
training||||and||prizes|||936|368|
||Research salaries,||||fees||and expenses|||136,111|92,833|
|||||||||||273,429|226,226|
||Share|of governance||||costs (see note 8)||||18,698|23,139|
|||||||||||292,127|249,365|
|8|Support||costs|||||||||
|||||||||Support|Governance|2022|2021|
|||||||||costs|costs|||
||||||||||8|||
|||||||||E||||
||Sub-contractor
costs||||||||6,310|6,310|6,194|
||Printing,|stationery||and||miscellaneous|||7,288|7,288|11,845|
||Auditors'||remuneration||||||5,100|5,100|5,100|
||||||||||18,698|18,698|23,139|
||Analysed||between|||||||||
||Charitable||activities||||||18,698|18,698|23,139|
##
##
|Employees|||||
|---|---|---|---|---|
||||2022|2021|
|The average
monthly|number ofemployees|during the year was:|||
|Employment
costs|||2022|2021|
|Wages and salaries|||49,950|50,688|
|Social security costs|||452|469|
|Other pension costs|||1,106|986|
||||51,508|52,143|
##
##
|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2022
F|2021f|
|Realised gain||919|240|
|Unrealised|gain|88,384|275,469|
|Net gain on|investments|89,303|275,709|
##
##
|12|Tangible
fixed assets|Tangible
fixed assets|||
|---|---|---|---|---|
|||||Short leasehold|
|||||E|
||Cost||||
||At 1 April 2021|||1,979,993|
||At 31 March|2022||1,979,993|
||Depreciation|and impairment|||
||At 1 April 2021|||694,800|
||Depreciation|charged|m the year|37,800|
||At 31 March|2022||732,600|
||Carrying
amount||||
||At 31 March|2022||1,247,393|
||At 31 March|2021||1,285,'i 93|
##
|Fixed ass|et investments||||
|---|---|---|---|---|
|||Listed|5%Loan|Total|
|||investments|stockf||
|Cost or valuation|||||
|At 1 April|2021|1,514,605|92,536|1,607,141|
|Disposals||(4,375)||(4,375)|
|Loan note|repayments||(8,923)|(8,923)|
|Valuation|changes|88,384||88,384|
|At 31 March 2022||1,598,614|83,613|1,682,227|
|Carrying|amount||||
|At 31 March 2022||1,598,614|83,613|1,682,227|
|At 31 March 2021||1,514,605|92,536|1,607,141|
##
##
##
|Financia|I instruments|I instruments||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||E||
|Carrying|amount|offinancial||assets||||
|Debt instruments||measured|at amortised||cost|825,293|790,309|
|Equity instruments||measured||at cost less|impairment|1,303,486|1,307,861|
|Carrying|amount|offinancial||liabilities||||
|Measured|at amortised cost|||||64,216|27,536|
|15|Debtors|||||
|---|---|---|---|---|---|
|||||2022|2021|
||Amounts|falling due within one year:||||
||Trade debtors|||1,739|6,096|
||Pre payments|||150||
||Other debtors|||1,304|660|
|||||3,193|6,756|
|16|Analysis|ofinvestments|at market value|||
|||||2022f|2021f|
||UK Equities|||1,598,614|1,514,605|
||Unlisted|Loan Stock||83,613|92,536|
|||||1,682,227|1,607,141|
##
##
##
|Creditors: amounts
falling due within one year|||
|---|---|---|
||2022|2021|
|||E|
|Other taxation and social security|851|1,273|
|Trade creditors|31,719|6,399|
|Other creditors|184|78|
|Deferred income|13,553|16,751|
|Accruals|32,497|2'l,137|
||78,804|45,638|
##
||||2022|2021|
|---|---|---|---|---|
||||E||
|Deferred|income as 1 April||16,751|29,826|
|Amounts|released|in the year|(3,393)|(13,093)|
|BIfwd deferred income remaining|||13,358|16,733|
|Deferred|income|at 31 March|13,553|16,751|
##
##
##
##
|2022||Eialance at 1|Incoming|Resources|Transfers|Gains and|Balance at 31|
|---|---|---|---|---|---|---|---|
|||April 2021|resources|expended||losses|March 2022|
||||f.|f|||f|
|Unrestricted|funds|||||||
|Unrestricted||80,000|223,664|(296,636)|(28,879)|89,303|67,452|
|Designated||2,263,881|||108,245||2,372,126|
|||2,343,881|223,664|(296,636)|79,366|89,303|2,439,578|
|Restricted||1,200,588|91,553|(59,857)|(?9,366)||1,152,918|
|||3,544,469|315,217|(356,493)||89,303|3,592,496|
|2021||Balance at 1|Incoming|Resources|Transfers|Gains and|Balance at 31|
|---|---|---|---|---|---|---|---|
|||April 2020|resources|expended||losses|March 2021|
|||||||p||
|Unrestricted|funds|||||||
|Unrestricted||74,167|296,201|(262,386)|(303,691)|275,709|80,000|
|Designated||1,958,056|||305,825||2,263,881|
|||2,032,223|296,201|(262,386)|2,134|275,709|2,343,&81|
|Restricted||1,207,119|42,289|(46,686)|(2,134)|-|1,200,588|
|||3,239,342|338,490|(309,072)||275,709|3,544,469|
##
##
||||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds||
||||2022|2022|2022|2022|
||||||F||
|Fund balances at 31 March 2022 are|||||||
|represented||by:|||||
|Tangible|assets|||459,882|787,511|1,247,393|
|Investments||||1,682,227||1,682,227|
|Current|assets/(liabilities)||67,452|230,017|365,407|662,876|
||||67,452|2,372,126|1,152,918|3,592,496|
||||Unrestricted|Designated|Restricted|Total|
||||funds|funds|funds||
||||2021|2021
Z|2021|2021f|
|Fund balances at 31 March 2021 are|||||||
|represented||by:|||||
|Tangible|assets|||473,819|811,374|1,285,193|
|Investments||||1,607,141||1,607,141|
|Current|assets/(liabilities)||80,000|182,921|389,214|652,135|
||||80,000|2,263,881|l,200,588|3,544,469|
##
|22
Analysis offunds|22
Analysis offunds||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Total fund||||Total fund|
|||||||balance to||||balance to|
|||||||01/04/21|Costs|Income|Transfers|31/03/22|
|Generat purposes||||||80,000|(62,924)|65,979|(15,603)|67,452|
|General purposes —designated||||||51,509|||(51,509)||
|Course (Exp/Inc/Tfr)|||||||(4,805)|17,677|(12,872)||
|Population
Orthopaedics|fund|||||70,338|||(2,475)|67,863|
|Regenerative
Orthopaedlcs||fund||||63,343|||4,520|67,863|
|Anatomy
fund (incorporating||Henry||Freede Fund)||66,346|(49,036)|28,400|789|46,499|
|Arthroplasty
fund||||||223,064|(1,098)|44,757|(26,451)|240,272|
|Arthroplasty
fund —restricted||||||41,108||||41,108|
|Research fund (Tony Smith)||||||2,310||||2,310|
|Research fund (Tony Smith)||—restricted||||147||||147|
|RJP Upper Limb fund||||||13,799||||13,799|
|CIND fund||||||28,436|(75)|35,317|(42,500)|21,178|
|CIND fund —restricted||||||4,126||||4,126|
|ENT course fund||||||1'l,285||3,600||14,885|
|ENT course fund —restricted||||||4,441||||4,441|
|Foot 8 Ankle research
fund||(NM)||||84,616|(771)||2,876|86,72'I|
|Hand surgery
res & trg fund||||||12,185|(969)|250||11,466|
|Hip unit (formerly JRR &|D)|||||2,046|||(2,046)||
|Histopathology
research|fund|||||254||||254|
|Upper Limb (Hand 8 Wrist) fund||||||6,010||||6,0'I0|
|Limb reconstruction
fund|(AB)|||||36,534|(414)|1,693||37,813|
|Fund Generation
fund (previously|||London||Marathon)|2,189|(289)|1,750||3,650|
|Fund Generation
fund (previously|||London||Marathon)||||||
|- restricted||||||3,426||||3,426|
|Medical photography||||||7,608||||7,608|
|Micro surgery
fund||||||5,160||||5,160|
|Muscular
dystrophy
fund||||||1,082||||1,082|
|OSCAR fund||||||3,634|(40)|||3,594|
|Oncology
fund||||||59,534|(9)|1,146|1,536|62,207|
|Oncology
fund —restricted||||||780|(780)||||
|Orthotlc research
fund||||||7,841||||7,841|
|Oscell fund||||||7,827||||7,827|
|Paediatrics
fund||||||3,383||||3,383|
|Paediatrics
fund —restricted||||||3,772||||3,772|
|Club Foot fund (replaces|Paediatric|||Neurology)||88|||608|696|
|Club Foot fund (replaces|Paediatric|||Neurology)|||||||
|- restricted||||||1,148||||1,148|
|Pharmacy
fund (replaces|Pathology|||Museum)||363||||363|
|Postgraduate
fund||||||758||||758|
|Publishing
fund (JBR + VCP)||||||49,169|(40)|465|1,071|50,665|
|Radiology
fund||||||87,362|||775|88,137|
|Radiography
fund||||||943||||943|
|Registrars
day fund (S-J)||||||12,332|(1,177)|||11,155|
|Research fund (Arthritis
& Rheumatology)||||||2,103||2,182||4,285|
|Research fund (General)||||||403,315|(157,210)|14,497|227,468|488,070|
|Research fund (General)|—restricted|||||283,891|(34,590)|91,553|(79,206)|261,648|
|Research fund (SWhite)||||||5,094|||(5,094)||
|Research
fund (SWhite)|—restricted|||||16O|||(160)||
|Charles Salt research
fund||||||34,911||||34,911|
|Radiology Research
fund||||||131||||131|
|Radiology Research
fund|—restricted|||||'I10||||110|
|Spinal injuries fund||||||94,725||150||94,875|
|Spinal injuries fund —restricted||||||3,608||||3,608|
|Spinal injuries staff fund||||||4,80O|(136)|||4,664|
|||||||1,893,144|(314,363)|304,416|1,727|1,889,924|
##
##
##
|22
Analysis offunds||(continued)||||||
|---|---|---|---|---|---|---|---|
||||Total fund||||Total fund|
||||balance to||||balance to|
||||01/04/21|Costs|Income|Transfers|31/03/22|
|b/f|||1,893,144|(314,363)|309,416|1,727|1,889,924|
|Spinal studies centre|||48,201|||(1,071)|47,130|
|Spinal studies centre —restricted|||11,041||||11,041|
|Spinal studies research projects (BC)|||7,311||1,250||8,561|
|Spinal studies research projects (BC) —restricted|||7,725||||7,725|
|Sports injury research
fund|||37,132||||37,132|
|Teaching
fund (R Banerjee)|||6,258||50||6,308|
|Teaching
fund {RBanerjee)||—restricted|1,535||||1,535|
|Lloyd Griffiths prize|||1,410|(15)|||1,395|
|Lloyd Griffiths prize —restricted|||418||||418|
|WG Davies prize|||2,588||||2,588|
|WG Davies prize —restricted|||3,645||||3,645|
|Division of nursing
studies|||4,441|(1,894)|1,483||4,030|
|Division of nursing
studies
J Rowland
Hughes
price|—restricted||1,106
388|(1,106)|||388|
|J Rowtand
Hughes
price —restrtcted|||153||||153|
|Dr W M Park memorial
fund|||2,393||||2,393|
|Dr W M Park memorial
fund||—restricted|209||||209|
|Friday PM fund|||1,234|(33)|||1,201|
|Anesthetist's
fund|||5,543||||5,543|
|Rheumatoiogy
Educational||fund (Dr A Askari)|8,786||1,444||10,230|
|Rheumatology
Educational||fund —restricted|3,264||||3,264|
|GP Study Day fund|||18,381||200|176|18,757|
|Veterans Centre fund|||10,357|(407)|2,293||12,243|
|Veterans Centre fund —restricted|||1,813||||1,813|
|Dr BTins fund|||5,866|(875)||(832)|4,159|
|Dr BTins fund —restricted|||11,589||||11,589|
|SAS Doctors Conference|fund||3,540||||3,540|
|Bioinformatics|||3,190||||3,190|
|Sub-total|||2,102,661|(318,693)|316,136||2,100,104|
|LMA Research centre|||473,819|(13,937)|||459,882|
|LMA Research centre —restricted|||811,374|(23,863)|||787,511|
|Unrealised
gains|||156,615||88,384||244,999|
|Total|||3,544,469|(356,493)|404,520||3,592,496|
|Summary||||||||
|Restricted funds|||1,200,588|(59,857)|91,553|(79,366)|1,152,918|
|Designated
funds|||2,263,881|||108,245|2,372,126|
|Unrestricted
funds|||80,000|(296,636)|312,967|(28,879)|67,452|
|Total|||3,544,469|(356,493)|404,520||3,592,496|
##
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