Charity registration number 1058548
Company registration number 3228419 (England and Wales)
Downs Syndrome Research Foundation UK
THE DOWN'S SYNDROME RESEARCH FOUNDATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED LEGAL AND ADMINISTRATION INFORMATION
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Trustees Dr E J Corcoran Mrs S M Elliot Dr P C Elliott Mrs L Murray Mrs M Kato-Kmiec Mrs S Costerton Mrs A Morley Secretary Mrs S M Elliott Charity Number 1058548 Company Number 3228419 Registered Address Dsrf-UK P.O. Box 576 Tunbridge Wells Kent TN2 9WJ Independent Examiner Ashleigh Martin Simple Support Solutions 90 St Catherine’s Road Southampton SO18 1LU Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED CONTENTS
| CONTENTS Le gTStTTy. pTetl |
CONTENTS Le gTStTTy. pTetl |
|---|---|
| ________________ | |
| Trustees’ Annual Report: | |
| Governance | 1 - 2 |
| Activities and Achievements | 3 - 7 |
| Financial Review | 7 |
| Reserves Policy | 8 |
| Trustees’ Responsibilities | 9 |
| Independent Examiner’s Report | 10 |
| Financial Statements | |
| Statement of financial activities | 11 |
| Balance Sheet | 12 |
| Accounting policies | 13 |
| Notes | 13 - 20 |
THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' effective 1 January 2019.
Governance
Legal Status
The charitable company was incorporated on 23 February 1996 and registered with the Charity Commission on 9 October 1996. The charitable company has no share capital but is limited by the guarantee of its members. The liability of the members is restricted to £10 each. The charitable company is governed by its revised Articles of Association which were adopted on 5th July 2010.
The Trustees, who are also the directors and the members for the purpose of the Companies Act, present this report and the un-audited financial statements of the charity for the year ended 31st December 2023.
Objects
The Charity's objects are to relieve the sickness of persons with Down's syndrome in particular through the provision of grants and funding for research into Down's syndrome for the purpose of finding treatments and cures, and to publish the results of such research widely and for the public benefit.
Organisation
The charity's activity is organised by the trustees, appointed by the members.
Financial Controls
The trustees have considered the key financial risks and have systems in place to mitigate those risks.
Registered address
PO Box 576, Tunbridge Wells, TN2 9WJ Email: elizabeth.corcoran@dsrf-uk.org
Website: www.dsrf-uk.org
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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Trustees
The trustees, who served throughout the year ending 31 December 2023 and up to the date of the signing of this report, are:
Dr. E. J. Corcoran nee Elliott (Chair) Mrs. S. M. Elliott (Secretary) Mr. P. C. Elliott Mrs. L. Murray Mrs. M. Kato-Kmiec Mrs. Sarah Costerton Mrs. Alison Morely
As a charity our policy is to retain existing proven trustees in order to ensure continuity of the research aims and have within the charity those skills and experience essential for the work that we do.
When we seek a new trustee, it is always to improve the quality and efficiency of the work we do and to add to the skill set of the trustees. This includes the need to have additional trustees monitoring the day-to-day operations and finances of the charity. We can also use social media and email lists to advise interested people to apply.
Any person who is willing to act as a trustee, and is permitted by law to do so, may be appointed to be a trustee by a decision of the trustees. No person may be appointed as a trustee unless he or she has reached the age of 18 years. A trustee may not appoint an alternate director or anyone to act on his or her behalf at meetings of the trustees.
We may invite parents or individuals who show an interest in the aims of the charity and who do not have conflicts of interests in performing their duties of trustee. Every trustee is selected very carefully and must read the essential trustee guide from the Charity Commission, the governing document, the Articles of Association of the charity and agree to abide by these rules. Once elected as trustees they are trained on the job and can always resign or be asked to resign. In the year ahead we would like to invite a trustee who has Down’s syndrome to join us.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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Activities and Achievements
The DSRF UK is the only charity in the UK focused purely on medical research for the collection of biomedical difficulties caused by Trisomy 21, known as Down’s syndrome (DS). The backbone of our work is the belief that people with DS also deserve the scientific innovations afforded to other conditions and illnesses over the last 50 years.
In all activities throughout 2023 due consideration towards the public benefit was made by the trustees, with reference to the Charity Commission’s guidance on public benefit.
Our activities during 2023
Transcranial Photobiomodulation with Near-Infrared Light for Language in Individuals With Down Syndrome (TransPhoM-DS)
In early 2018 Dr. Corcoran began discussions with Dr Paolo Cassano, Assistant Professor of Psychiatry, (Harvard Medical School) and Director of Photobiomodulation (PMB) (Massachusetts General Hospital - Division of Neuropsychiatry) about the possibilities of a pilot study of PBM in DS. Throughout 2020 there were multiple revisions and an external protocol review by PBM experts. In August 2020, the final protocol and budget was approved for DSRF UK funding by the board of trustees. In January 2021, the funding contract was signed to fund USD $415,420 over 2 years (2021, 2022). Financial support was distributed in two payments; the first one, for the amount of $211,000 (£151,323) and the second payment was made in September 2022, for the amount of $203,629 (£184,313). Dr. Corcoran hosted a FB Live webinar with Paolo covering the study which had approximately 850 views adding to the increasing interest in this cutting-edge field. It was agreed that there would be a one year no cost extension to analyze and formalize the results. The work was ongoing in 2023.
Systematic review of treatment modalities for obstructive sleep apnoea (OSA) in children with Down’s syndrome
This piece of work forms part of on-going research led by Dr. Cathy Hill and her team at the University Hospital Southampton. Our funding of the Systematic Review will allow Dr. Hill and her team to make further improvements. A Systematic Review of Research is a ‘deep dive’ into all published and unpublished research looking to answer a specific question. The scope of the search has been OSA treatments in children with Down syndrome, how best to diagnose it and what impact it has on children’s sleep and developing brains. Dr Rina Cianfaglione, research fellow to Dr Hill, will scrutinise the papers and systematically review the research that we have to date on OSA treatments in children with DS.
The Foundation have given Dr. Hill’s team two grants: £12,375 in 2019 to support the writing of the Systematic Review (including a professionals’ workshop for potential research collaborators) and £10,465 in 2020 for a piece of work building evidence for a multi-centre treatment trial for obstructive sleep apnoea in children with Down’s syndrome.
Our support strengthens the case for funding from a large body such as the NIHR as the next stage of research will be very costly and outside of the Foundation funding capabilities. Additionally, The Foundation hosted a well-attended webinar on “Down’s Syndrome and Sleep” with expert guest speakers Prof. Cathy Hill, Dr. Rina Cianfaglione and Dr. Lizzie Hill.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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The publishing of the Systemic Review has been delayed due to gathering all data from the researchers for the analysis. Southampton hosted a national online meeting with Sleep Researchers and the team in Dublin have put together an impressive protocol testing different sleep interventions for people with DS and they are looking to open more sleep study centers. Funding for a nurse may be looked into in the future. Talks continued and expanded into 2023 with Prof. Cathy Hill, Dr. Rina Cianfaglione and Dr. Lizzie Hill regarding the possibility of funding a refreshed sleep study. Once a budget is put together it will be discussed with the trustees.
Down Syndrome and Sleep Research Network
In late 2023, following extensive discussions with leading experts in Down syndrome (DS) and sleep disorders, Dr. Elizabeth Corcoran identified a significant and long-standing need for a dedicated research network focused on sleep issues within this community. Recognizing the global gap in this area, Dr. Corcoran initiated plans to establish the world’s first Down Syndrome and Sleep Research Network.
This pioneering network will bring together researchers specializing in both adult and pediatric care, focusing on diagnosing and treating sleep disorders in individuals with Down syndrome across the UK. The early stages of planning and budgeting have been completed, and fundraising efforts are currently underway. The official launch of the Sleep Network is tentatively scheduled for May 2025.
Menstrual Health Research
Talks began with Dr Katie Greenland, Assistant Professor with the London School of Hygiene. Dr. Greenland was seeking funding for a project investigating the menstrual health-related experiences of 10-19 year olds with Down Syndrome in the UK. This study could be an extremely beneficial training tool around menstruation. In 2024 we approved a budget for the study of £16,588.
The research will generate important evidence on the unmet menstrual-related requirements and identify opportunities for interventions to improve the menstrual health of people with Down syndrome in the UK. Details of how to participate in this study will be forthcoming for carers and adolescents aged 10-19 years. Through comprehensive online surveys and in-depth interviews with adolescents with Down syndrome and their caregivers, the project seeks to uncover the unique challenges and needs of these young individuals.
“I am so glad this complex aspect of life is being researched. It is important for Health Care Professionals to understand the challenges people with Down’s syndrome and their families face regarding menstruation and its management” L (mum to daughter with DS and Autism)
People with learning disabilities experience a wide range of health inequities, and menstrual health is no exception. The well-being of adolescents during their menstrual cycle impacts not only their physical health but also their schooling, mental and social well-being. Despite its importance, there is a stark lack of evidence and guidance available to support individuals with Down syndrome and their caregivers or doctors in managing menstrual health well.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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The team will include experts Sarah Polack, Associate Professor in Disability Research at the International Centre for Evidence in Disability (ICED) at LSHTM and Dr Jane Wilbur, Assistant Professor at the International Centre for Evidence in Disability (ICED) at the LSHTM, focusing on disability and water, sanitation and hygiene (WASH).
Sarah Pollock has a wealth of experience in discovering the health experiences and needs of those with disabilities, critically with those with living experience at the heart of her research methods. Dr Wilbur has research expertise in the area of menstrual health in those with learning disabilities developing the Bishesta campaign (in Nepal) and the Veivanua campaign for Vanuatu’s humanitarian responses.
This partnership also marks a significant step forward in our commitment to supporting underserved communities and addressing health inequities faced by individuals with learning disabilities.
Going to Hospital
‘Going to Hospital’ is an accessible publication for patients with learning disability or autism and aims to help children & young people with additional needs to know what they might expect to see when visiting hospital for an appointment or when being admitted for a procedure. Trustees granted £1,000 towards its publication in 2023.
Advocacy and Campaign work
a. Don’t Screen Us Out (DSUO) campaign activities
Since 2016, we have been dedicated to supporting the Don’t Screen Us Out (DSUO) campaign, which addresses the ethical concerns surrounding current prenatal screening policies. The UK's obligations under the Convention on the Rights of Persons with Disabilities (CRPD) affirm that society must accommodate, include, and support disabled individuals and their families. Yet, there is significant evidence that parents of unborn children diagnosed with disabilities are not provided with the necessary information and resources to make an informed choice about continuing their pregnancy and raising a disabled child. This lack of support undermines the rights of both the child and their family, and we stand firmly against such practices.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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b. Embracing Complexity Coalition (was the Neurodevelopmental Coalition Policy Group)
In March 2017 we became a part of a coalition of medical research charities representing various neurodevelopmental conditions/disabilities. Multi-morbidity is increasingly being recognised as the norm for people diagnosed with a neurodevelopmental condition.
We believe that priorities should be guided by the people we serve, with diagnosis being timely, accurate, and accessible. Clinical diagnosis should not be a prerequisite for receiving support or adjustments, which must be personalized, easily accessible, and rooted in the best available evidence. Research should shift away from predefined diagnostic categories and instead reflect the priorities of the neurodivergent community. Improving the lives of neurodivergent individuals is a responsibility shared by all public services and sectors of society. Ultimately, we achieve more when we collaborate and work together.
The current project is the Top 10 Priorities for Research on Neurodivergence.
c. NHS Fetal Anomaly Screening Programme (FASP) Information and Education Sub-Group
As a stakeholder in the antenatal screening programme, we are requested to provide our thoughts on any changes to the current antenatal screening pathways.
d. National Down Syndrome Policy Group (NDSPG)
In 2021 the National Down Syndrome Policy Group was formed comprising of people from a wide range of other charities and support groups: all with the common aim of ensuring that the voice of people with Down syndrome is heard in society and reflected in government policy. A third of the founding officers have Down’s syndrome. Three of the DSRF UK trustees are Founding Officers; Lynn Murray, Elizabeth Corcoran and Sarah Costerton. The NDSPG is the Secretariat to the new All Party Parliamentary Group, organising and supporting the meetings and work of the APPGDS and providing lived experience. In 2023 the NDSPG applied for charity status and has been accepted. Dr Corcoran is also a trustee for the NDSPG and represents the NDSPG on medical policy issues and ensuring the importance of research is not forgotten.
e. The Down Syndrome Act 2023 and Guidance Development
In June 2021, Dr. Liam Fox MP introduced the Down Syndrome Bill to Westminster during the Parliamentary session. We are proud to report that in 2022, the Down Syndrome Act was passed into UK law, a historic achievement that enshrines specific provisions for education, social, and healthcare support for individuals with Down syndrome. This Act marks a transformative step toward ensuring that the unique needs of people with Down syndrome are not only acknowledged but met with tailored services and policies.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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As we look ahead, our focus is on ensuring that the statutory guidance accompanying the Down Syndrome Act is as comprehensive and impactful as possible. We are actively working alongside civil servants, policymakers, and advocacy groups to shape robust guidelines that will bring the full weight of the Act into practice. Throughout 2023, we have been deeply involved in consultations with the Department of Health and Social Care regarding the Call for Evidence, a critical process that will shape the final framework. Dr. Elizabeth Corcoran, representing our organisation, continues to attend the Down Syndrome Statutory Guidance Advisory Group, working closely with key government stakeholders, including the then Minister, Maria Caulfield MP.
Next steps in this process include deepening our collaboration with researchers, healthcare professionals, and education specialists to generate evidence-based recommendations that inform the DS Act’s implementation. We are committed to facilitating research that addresses gaps in knowledge, especially in the areas of mental health, long-term care, and educational needs for individuals with Down syndrome. As we continue to engage with policymakers, we aim to ensure that the statutory guidance not only reflects the best available evidence but also promotes ongoing research and development in Down syndrome care, education, and quality of life.
Financial review
At the beginning of 2023 the charity had net unrestricted reserves of £107,218. Following a surplus of £35,778 (2022: deficit 206,348) the charity ended the year with reserves of £142,996. The trustees have designated £16,588 towards the menstrual health research, leaving an undesignated balance of £126,408.
Legacies
i) The estate of Ms. Gladys Cullis
In 2014 it was confirmed that the charity would receive the benefit of the legacy of the estate of Ms. Gladys Cullis, which was then estimated to be £60,000. In 2017 the charity was advised that there was uncertainty over the total amount due. In 2022 a cheque was received in December and deposited in January 2023 for the amount of £8,591.60. A final cheque of £1,787.50 was deposited in 2024. The monies received from this legacy in total are £85,556.26.
ii) The estate of Raymond Harry Thompson
In 2015 our charity, along with seven other charities, was included in the will of the late Raymond Harry Thompson. The money on this estate will be paid upon the passing of Mr. Thompson’s son Keith, and until that time is being held in trust. Trust assets are valued at £538,353 in February 2018. £300,000 is currently invested in an old mutual wealth collective investment bond. A further £200,000 is invested in NS & I (income bonds) with the balance of funds in a trust bank account. As of June 29, 2020, Shorts Chartered Accountants (overseers of trust) report that due to the economic impact of Covid19 there has been a decrease in the value of one of the main trust investments of about 7.5% which is a loss of about £23,000 bringing it down to £277,000. The NS&I investment remains the same at £200,000. There has since been some recovery in the value of the investment, which now stands at £324,856.86. Sadly, Principal beneficiary of trust (Raymond “Keith” Thompson”) died on the 11 July 2022. A final distribution check in the amount of £51,101.12 was deposited April 2023.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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iii) Robert Thomas Plato
In 2021 our charity, along with forty other charities, received notice that we have been included in the will of the late Robert Thomas Plato. Mr. Plato’s estate is comprised of a property, bank accounts and personal possessions. They will be valued and sold in due course. The solicitors, Huggins Lewis Foskett, will then divide the proceeds amongst the charities listed in his will. We received a letter stating Mr. Plato’s property had been sold and our portion of the estate was enclosed. A distribution check in the amount of £7,500.00 was deposited June 2023. One final check was received in the amount of £1,274.78.
iv) The Estate of Kay Johnston
At the end of 2023 we were notified we were a beneficiary from the Estate of Kay Johnston in the amount of £4,379.41.
Fund-raising activity continued in 2023, with income from monthly donations, fundraising, legacies and interest, totaling £83,313. At the end of 2023 the charity had £142,996 unrestricted reserves and nil restricted funds totaling £142,996.
Reserves policy
The accumulation of funds (reserves) donated for medical research is a necessary strategy when donations are very small, and the cost of clinical research is very great. The process by which these funds are accumulated is described as a ‘war chest’ for medical research.
Our Reserves policy is to accumulate sufficient funds to fund appropriate medical research projects as approved by the trustees. Our funds could also be used as ‘seed money’ but it will attract other funders to support these projects i.e. by matched funding. There is always the expectation that research needs more funds that we can raise in a single year and some of that income is needed to fund ongoing operations. We believe a charity should give assurance to lenders and creditors that we can meet our financial commitments by holding an appropriate amount of reserves. Funds that we receive as a result of a grant for a specific project are spent immediately and/or within the guidelines for the project. The same rule applies for any grant that has a restriction on how it must be used.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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Statement of Trustees’ Responsibilities
The law applicable to incorporated charities in England and Wales requires the trustees, who are also directors of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its financial activities during the year. In preparing those financial statements, the trustees are required to:
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●Select suitable accounting policies and then apply them consistently;
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●Make judgments and estimates that are reasonable and prudent;
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●State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements;
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●Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The financial statements have been prepared in accordance with current statutory requirements, the current Statement of Recommended Practice, and the Financial Reporting Standard (FRS) 102.
Approved on behalf of the trustees:
………………………………………….
Dr. E. J. Corcoran nee Elliott (Chair)
24 September 2024
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THE DOWN'S SYNDROME RESEARCH FOUNDATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DOWN'S SYNDROME RESEARCH FOUNDATION LIMITED I report to the trustees on my examination of the financial statements of The Down's Syndrome Research Foundation Limited (the charity) for the year ended 31 Decernber 2023. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparalion of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied rnyself that the financial statements of the charily are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charilies Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Cornmission under section 145(5> (b) of the 2011 Act. Independent examinerfs ststement I have completed my examination. I confirrn that no matters have come to my attention in connection with the examination giving me Gause to believe that in any material respect: accounting records were not kept in respect of the charity as required by sectlon 386 of the 20Q6 Act. or 2. the financial statements do not accord with those records. or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinatiDn', or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have Come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Ashleigh Martin Simple Support Solutions Ltd (Company number 14947423) 90 St Catherine's Road Southampton S018 1LU Page 10
THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
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----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|TOTAL|Unrestricted|Restricted|TOTAL|
|Funds|Funds|Funds|Funds|
|2023|2023|2023|2022|2022|2022|
|£|£|£|£|£|
|Notes|
|Income|
|Donations and legacies|3|82,257|-|82,257|20,104|-|20,104|
|Investments|4|874|-|874|484|-|484|
|Total Income|83,131|-|83,131|20,588|-|20,588|
|Expenditure|
|Raising Funds|5|9,322|-|9,322|513|-|513|
|Charitable Activities|6|38,031|-|38,031|226,423|6,650|233,586|
|-|
|Total Expenditure|47,353|47,353|226,936|6,650|233,586|
|Net expenditure for the year/|35,778|-|35,778|(206,348)|(6,650)|(212,998)|
|Net movement in funds|
|-|
|Fund balances at 1 January|107,218|107,218|313,566|6,650|320,216|
|2023|
|Fund balances at 31 December|142,996|-|142,996|107,218|-|107,218|
|2023|
----- End of picture text -----
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||||||
| Notes | ||||||||||
| Current assets | ||||||||||
| Debtors | 11 | 602 | 9,194 | |||||||
| Investments | 12 | 47,367 | 46,859 | |||||||
| Cash at bank and in hand | 13 | 96,577 | 54,603 | |||||||
| 144,546 | 110,656 | |||||||||
| Creditors: amounts | ||||||||||
| due within one year | 14 | (1,550) | (3,438) | |||||||
| Net current assets | 142,996 | 107,218 | ||||||||
| Unrestricted Income funds |
||||||||||
| Designated funds | 15 | - | - | |||||||
| Undesignated funds | 142,996 | 107,218 | ||||||||
| 142,996 | 107,218 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 24 September 2024.
Dr E J Corcoran
Chair
Company registration number 322841
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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1 Accounting policies Charity information
The Down's Syndrome Research Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Dsrf-Uk, P.O. Box 576, Tunbridge Wells, Kent, TN2 9WJ.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are a subdivision of unrestricted funds, set aside by the trustees. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Expenditure which meets these criteria is drawn from the fund.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
The value of services provided by volunteers is not incorporated into these financial statements. Where services are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.
Expenditure includes irrecoverable VAT.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ~~a~~ ______________
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Funds |
Unrestricted Funds |
|||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Donations and gifts | 10,276 | 11,512 | ||
| Legacies | 62,981 | 8,592 | ||
| Grants receivable | 9,000 | - | ||
| 82,257 | 20,104 |
4 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2023 | 2022 | |
| £ | £ | |
| 874 | 484 |
Interest receivable
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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5 Raising Funds
| Unrestricted | Unrestricted | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | ||||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Fundraising and publicity | |||||||||
| Other fundraising costs | 9,322 | 513 | |||||||
| Support costs | - | - | |||||||
| Fundraising and publicity | 9,322 | 513 | |||||||
| 9,322 | 513 | ||||||||
| 6 Charitable Activities | |||||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Research | 1,000 | 184,312 | |||||||
| Advocacy | - | 10,063 | |||||||
| 1,000 | 194,375 | ||||||||
| Grant Funding Activities (see note 7) | Grant Funding Activities (see note 7) | - | 900 | ||||||
| Share of support costs (see note 8) | 36,431 | 37,042 | |||||||
| Share of governance costs (see note 8) | 600 | 756 | |||||||
| 38,031 | 233,073 | ||||||||
| Analysis by fund | |||||||||
| Unrestricted funds | 38,031 | 226,423 | |||||||
| Restricted funds | - | 6,650 | |||||||
| 38,031 | 233,073 |
6 Charitable Activities
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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7 Grants Payable
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Grants to institutions | - | - | ||||||
| Grants to individuals | - | 900 | ||||||
| - | 900 |
8 Support costs
| Support costs |
Governance costs |
2023 | Support costs |
Governance costs |
2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |||||||
| Office management | 34,159 | - | 34,159 | 33,480 | - | 33,480 | ||||||
| Office costs | 2,518 | - | 2,518 | 2,199 | - | 2,199 | ||||||
| Website and internet | 754 | - | 754 | 870 | - | 870 | ||||||
| Other overheads | - | - | 493 | - | 493 | |||||||
| Independent Examiner’s Fees |
- | 600 | 600 | - | 756 | 756 | ||||||
| 37,431 | 600 | 38,031 | 37,042 | 756 | 37,798 | |||||||
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year except as detailed in note 17.
10 Financial Instruments
| Total | Unrestricted Funds |
|||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Carrying amount of financial assets | ||||
| Instruments measured at fair value through profit or loss | 47,367 | 46,859 |
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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11 Debtors
----- Start of picture text -----
||||
|---|---|---|
|Total|Unrestricted|
|Funds|
|2023|2022|
|£|£|
|Amounts falling due within one year:|
|Prepayments and accrued income|603|9,194|
|12 Current asset investments|
|Total|Unrestricted|
|Funds|
|2023|2022|
|£|£|
|Unlisted investments|47,367|46,859|
----- End of picture text -----
12 Current asset investments
13 Creditors: amounts falling due within one year
----- Start of picture text -----
||||
|---|---|---|
|Total|Unrestricted|
|Funds|
|2023|2022|
|£|£|
|Other creditors|32|32|
|Accruals and deferred income|1,528|3,406|
|1,550|3,438|
----- End of picture text -----
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THE DOWN’S SYNDROME RESEARCH FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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14 Designated funds
The income funds of the charity have included unrestricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes designated by the trustees.
| Balance at 1 January 2022 |
Incoming Resources |
Balance at 1 January 2023 |
Incoming Resources |
Balance at 31 December 2023 |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||||||
| Menstrual health research |
- | - | - | 16,588 | 16,588 |
Menstrual health research - a project investigating the menstrual health-related experiences of 10-19yr olds with Down Syndrome in the UK.
15 Analysis of net assets between funds
| Undesignate d funds 2023 |
Designate d funds 2023 |
Total 2023 |
Undesignat ed funds 2022 |
Designate d Funds 2022 |
Total 2022 |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |||||||
| Fund balances at 31 December 2023 are represented by: |
126,408 | 16,588 | ||||||||||
| Current assets/liabilities | 126,408 | 16,588 | 142,996 | 107,218 | - | 107,218 |
16 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
Ms Christine Elliott is the sister of two of the trustees, Dr E J Corcoran Elliott (Chair) and Dr P C Elliott, and daughter of the trustee Ms S M Elliott. On 12 March 2015 the other trustees, including the two independent trustees, appointed Ms Christine Elliott as the charity's Office Manager on a freelance basis at the rate of £25 per hour for 20-30 hours per week. This was ratified by the current trustees during 2017. Fees of £34,727 were paid during the year ended 31 December 2023 (£34,200 in 2022), and expenses of £1,093 (2022: £nil).
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