OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

COMPANY REGISTRATION NUMBER: 03300591 CHARITY REGISTRATION NUMBER: 1060423

ae’ “s e Peninsula Medical Foundation oeae

Peninsula Medical Foundation

Company Limited by Guarantee Unaudited Financial Statements 31 December 2023

| | | :

Peninsula Medical Foundation Company Limited by Guarantee

: :

Financial Statements

Year ended 31 December 2023

Page
Trustees! annual report (incorporatingthe director's report) 1
Statement offinancial activities (includingincome and expenditure
account) 6
Statementoffinancial position : 7
Notestothefinancialstatements 9

a

Peninsula Medical Foundation

|

|

.

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

Reference and administrative details

Registered charity name Peninsula Medical Foundation Charity registration number 1060423 , Company registration number 03300591 Principal office and registered Metherell Gard office Old Memorial Hall Morval Looe Cormwall PL13 1PN The trustees Mr G Beak Mr N B Buckland (resigned 27/06/2023) Prof J A Copplestone Ms R M James (resigned 03/06/2024) Prof-H Khalil (resigned 28/06/2023) Mr P McArdle (resigned 07/07/2023) Mr RH G Michelmore Mr M Plant (resigned 03/06/2024) Mr P Vosper Mr D C Wiitkins Independent examiner Guy Ian Northcott FCA DChA Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE

,

:

----- Start of picture text -----
|
----- End of picture text -----

Peninsula Medical Foundation

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2023

Structure, governance and management

The governing document of the charity is its Memorandum of Articles of Association. The Trustees meet regularly throughout the year and as one of their duties ensure that the charity remains in compliance.

Brewin Dolphin Limited, Vantage Point, Woodwater Park, Pynes Hill, Exeter, Devon, EX2 5FD, maintained the investment portfolio for the charity during the period.

Metherell Gard, Old Memorial Hall, Morval, Looe, PL13 1PN, provided bookkeeping and accountancy services.

Trustees

The governing document of the charity is its Memorandum of Articles of Association. The Trustees meet regularly throughout the year to govern the charity.

Risk Assessment and Management

The Trustees regularly discuss risk with particular attention to the risk of loss to investments, especially for restricted funds. This is difficult area in times when the investment falls in value, in relation to the financial commitment made by the charity. A Directors’ insurance policy is in force against claims of Mismanagement and Employers’ Liability.

Trustees

Trustees are recruited who have an interest in medical research and medical education and are representative of the community of Devon and Cornwall. Charity Commission publications on the duties of trustees are provided to prospective trustees.

During 2023, Mr N Buckland completed his term of office.. Prof H Khalil and Mr P McArdle both stepped down due to work pressures making it difficult to attend meetings. We are grateful for all their contributions.

. . ;

Meetings

Trustee Meetings were held on 14% March, 27 June (which was also the Annual General Meeting), 3" October, and 5" December. Prominent topics were related to improving governance, the! difficulty of recruiting trustees, financial management and fundraising.

Objectives and activities —

The Memorandum and Articles of Association which is the governing document states our objects as the relief of sickness generally and in particular to provide and promote for the public benefit education in, and research into, all aspects of medicine and healthcare and in particular but without prejudice to the generality of the foregoing to promote research into the causes and treatment of diseases to promote, undertake and publish the useful results of research and research into other aspects of healthcare.

.

-2-

|

i : .

,

Peninsula Medical Foundation Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 a . Objectives and activities (continued) Aims Our aim is to raise funds to support medical and dental education and research and health care in the southwest peninsula. The Trustees have had due regards to the Charity Commission guidance on public benefit. The Trustees have also continued to respect the wishes of donors and legacy prospects whose intentions were to support specific projects within the Medical and Dental Schools. The Trustees have broadened the scope of health benefits to the public, by also working closely with University Hospitals Plymouth NHS Trust. Strategic Development PMF has been working closely with the Peninsula Medical School in the Faculty of Health in Plymouth University, alongside Plymouth University Hospitals NHS Trust (UHP). This is because clinical education, and medical research is provided by people who work across both organisations.

In the spring, our excellent part-time administrator gave notice as she had to increase her hours at another charity (to help change its structure). After advertisement and interviews, we appointed another administrator, but she left after 6 months, for a higher salary. Fortunately, our original administrator was able to return to work for PMF.

Achievements and performance

Achievements

Our relationship with the University of Plymouth has improved considerably. The legacy from Elwyn Thomas Fund has enabled us to make a further PhD grant to the Brain Tumour Research Group in the University. We are currently funding 3 PhDs — 2 on brain and nerve tumours and one in management of Parkinson’s Disease. We also returned some money to the Peninsula Dental School, which was held in restricted funds. At short notice we were able to help replace a specialised scanner which had broken down irreparably and was used by many different research groups. We had talks with the Head of the Peninsula Medical School regarding student support, but the Trustees were reluctant to proceed at this time with this venture due to the potential risks involved.

We had further talks with University Hospitals Plymouth NHS Trust. It has been a difficult year for the NHS with increasing demands and industrial action. This has meant that we were not able to progress as much as we would wish. However, we did meet the Chair of the Hospital Board and the Medical Director who both reaffirmed the importance of academic and teaching developments. As part of the Elwyn Thomas legacy, we have funding to set up a biobank for liver, bile and gut samples to investigate the impact of nanoparticles of plastic on human health. The project is being run by UHP, Royal Cornwall Hospital and University of Plymouth.

Towards the year end we have resolved an issue with the Connie White legacy, which provides a highly restricted fund to enable a medically qualified doctor to train as a dentist at the Peninsula Dental School, in order to continue a career in Facial and Maxillary Surgery. The funds will be transferred in 2024.

From a governance point of view, our main problem has been recruiting new trustees. The Board is very grateful : ~ for the time and work ofpast and present trustees and is keen to diversify the board if possible. It seems that people are more reluctant to give up their time. Raising money is also difficult. At least one event had to be cancelled and rebooked due to lack of participants and it is also difficult to get helpers. We have also been slow to claim Gift Aid from bank donations, but this is in hand to claim back the money. Most donations come from JustGiving where the Gift aid is automatically claimed.

a

-3-

|

Peninsula Medical Foundation

| . : ,

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2023

oe

Public Benefit

Supporting medical research (such as meningioma & Parkinson's Disease) has clear benefits to the general population. Research in these diseases is underfunded, and brain tumours are the biggest cancer killer in children and adults under 40 years old. The PD project is looking at how to monitor telemetrically PD patients in their home and prove medical help in a timely way. Where Clinical Research exists, it improves the standard of care and enables patients in the Peninsula to have access to new drugs under development. Advances have wider benefit than simply the Peninsula, as the results are applicable to the rest of the UK and other countries.

Financial review

The assets ofPMF increased from £459.7k to £533.7k. There was no major difference in the Investments, managed by Brewin Dolphin, based on medium risk with interest reinvested. Donations increased from £66.2k to £97.3k. Much of the research equipment requested by the University is expensive (over £100k) hence the need to build up reserves. Total expenditure in 2023 was £38,129.

Financial review (continued)

Reserves Policy

The current level of reserves held by the charity are £421,212 unrestricted and £112,469 restricted. The trustees consider it prudent to hold the charities reserves against its running costs and consider it reckless to deliberately deplete resources to less than one years running costs.

The charity likes to maintain the level ofunrestricted reserves which would cover 3 years expenditure. The trustees believe that the current level of reserves held would achieve this.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 18% June 2024 and signed on behalf of the board of trustees by:

|

|

----- Start of picture text -----
rk
----- End of picture text -----

Prof J A Copplestone, Chair of Trustees

a

-4-

|

Peninsula Medical Foundation

Company Limited by Guarantee Independent Examiner's Report to the Trustees of Peninsula Medical Foundation Year ended 31 December 2023 eennn

I report to the trustees on my examination of the financial statements of Peninsula Medical Foundation (‘the charity’) for the year ended 31 December 2023 set out on pages 6 to 20.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company 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 accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 examination; or

  4. 4, the accounts 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 concems 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 accounts to be'reached.

LQCA DChA Northcott Trumfield Chartered Accountants ICAEW

Devonshire Villa

,

52 Stuart Road - Stoke Plymouth PL3 4EE

Date: 18% June 2024

a

_s.

| | |

Peninsula Medical Foundation

:

; ;

:

|

|

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 December 2023

|

Period from
1 Feb 22 to
Year to 31 Dec 23 31 Dec 22
Unrestricted Restricted
Note funds
£		 funds
£		 Totalfunds
£		 Totalfunds
£
Income and endowments
Donations and legacies 5 15,366 82,000 97,366 66,289
Othertrading activities 6 382 - 382 18,346
Investment income 7 8,890 - 8,890 4,360
Totalincome 24,638 82,000 106,638 88,995
Expenditure
Expenditure onraising funds:
Costs ofraising donations and
legacies 8 1,521 - 1,521 8,419
Investmentmanagement costs 9 2,860 — 2,860 1,658
Expenditure on charitable activities 10,11 22,630 11,118 33,748 91,422
Total expenditure 27,011 11,118 38,129 101,499
Net gains/(losses) on investments 13 5,509 - 5,509 (12,254)
Net expenditure and netmovement in funds 3,136 70,882 74,018 (24,758)
Reconciliation offunds
Total funds broughtforward 418,076 41,587 459,663 484,421
Totalfundscarriedforward 23 421,212 112,469 533,681 459,663

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 20 form part of these financial statements. .

.

-6-

|

|

|

Peninsula Medical Foundation

Company Limited by Guarantee

Statement of Financial Position

31 December 2023

,

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Note|£|£| |Fixed|assets|,| |Tangible|fixed|assets|18|267|355| |Investments|19|306,283|297,097| |306,550|297,452| |Current|assets| |Stocks|20|1,600|1,800| |Debtors|21|84,637|3,526| |Cash|at bank|and|in hand|142,624|234,487| |228,861|239,813| |Creditors:|amounts|falling|due within|one year|22|1,730|77,602| |Net|current|assets|147,131|162,211| |Total|assets|less|current|liabilities|533,681|459,663| |Net|assets|533,681|459,663| |Funds|of the|charity| |Restricted funds|112,469|41,587| |Unrestricted|funds:| |Revaluation|reserve|27,541|21,275| |Other unrestricted|income|funds|393,671|396,801| |Total|unrestricted|funds|421,212|418,076| |Total|charity funds|533,681|459,663|

----- End of picture text -----

For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 1 |

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subj ect to the small companies' regime. ;

a

The statement of financial position continues on the following page. The notes on pages 9 to 20 form part of these financial statements.

-7-

Peninsula Medical Foundation

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2023

These financial statements were approved by the board of trustees and authorised for issue on 18 June 2024 and are signed on behalf of the board by:

Prof J A Copplestone Chair of Trustees

Company Registration Number - 03300591

|

|

The notes on pages 9 to 20 form part of these financial! statements.

-8-

Peninsula Medical Foundation

|

Company Limited by Guarantee

Notes to the Financial Statements

_-

Year ended 31 December 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Metherell Gard, Old Memorial Hall, Morval, Looe, Cornwall, PL13 IPN.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

:

  1. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

:

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

:

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

.

|

-9-

:

Peninsula Medical Foundation Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023 . e e eee ee

  1. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity - and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

;

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

a

-10-

| |

Peninsula Medical Foundation

: ,

|

1

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment

Investments

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Stocks

|

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

-1i-

|

| : | |

:

Peninsula Medical Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

  1. Limited by guarantee

The company was incorporated in England and Wales on 9 January 1997 and is limited by guarantee (Company No. 03300591). The members liabilities are limited to £1 per member.

5. Donations and legacies

Unrestricted Restricted TotalFunds
Funds Funds 2023
£ £ £
Donations
Donations 12,928 - 12,928
Donationsunder gift aid 2,438 - 2,438
Legacies
Connie White (née Fozzard) Legacy - 80,000 80,000
Grants
The'Hospital SaturdayFund poe 2,000 2,000
15,366 82,000 97,366
Unrestricted Restricted TotalFunds
Funds Funds - 2022
£ £ £
Donations
Donations 20,441 - 20,441
Donationsunder gift aid 3,100 - 3,100
)
Legacies
TheElwynThomas MemorialFund 42,748 - 42,748
66,289 - 66,289

-12-

Peninsula Medical Foundation

|

|

;

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

6. Other trading activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Fundraising events 382 382 18,346 18,346
.
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Income from listed investments 7,160 7,160 4,077 4,077
Bank interest receivable 1,730 1,730 283 283
8,890 8,890 4,360 4,360
8. Costs ofraising donations and legacies
Unrestricted Restricted TotalFunds Funds
Funds Funds 2023
£ £ £
Costs ofraising donations and legacies - Donations 540 - 540
Xmas cards — — -
Opening Stock 1,800 - 1,800
Closing stock (1,600) — (1,600)
Just giving fees 216 - 216
Advertising 565 — 565
1,521 - 1,521
i
Unrestricted Restricted TotalFunds Funds
Funds Funds 2022
£ £ £
Costs ofraising donations and legacies - Donations 7,500 - 7,500
Donations — _ —
Xmas cards 2,008 - 2,008
Opening Stock - - -
Closing stock (1,800) - > (1,800)
Just giving fees 198 - 198
Advertising 513 - 513
8,419 — 8,419

8. Costs of raising donations and legacies

-13-

|

|

,

: .

|

Peninsula Medical Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023 eoeenSnw eS pr we

9. Investment management costs

Unrestricted TotalFunds Unrestricted Unrestricted TotalFunds
Funds 2023 Funds 2022
£ £ £ £
Portfoliomanagement 2,860 2,860 1,658 1,658
10. Expenditure on charitable activities byfund type
Unrestricted Restricted TotalFunds Funds TotalFunds
Funds Funds 2023 2022
£ £ £ £
Research Grants, Bursaries andPrizes 5,000 - 5,000 -
Medical research - - - 75,342
Donations
Support costs		 -
17,630		 11,118
-		 11,118
17,630		 16,080
22,630 11,118 33,748 91,422
11. Expenditure on charitable activities by activity type
Activities
undertaken Totalfunds Totalfund
directly Support costs 2023 2022
£ £ £ £
Research Grants, Bursaries andPrizes 5,000 17,630 22,630 16,080
Donations
Medical research		 11,118
-		 -
-		 11,118
-		 75,342
16,118 17,630 33,748 91,422
12. Analysis ofsupport costs ©
Total 2023 Total 2022
£ £
Staffcosts 2,800 7,251
General office . 794 420
Insurance
.		 171 1,022
Accounts
SecretarialFees		 4,677
9,035		 4,621
-
Administration
Depreciation		 64
89		 2,647
119
17,630 16,080

i 12. Analysis of support costs ©

a

-14-

Peninsula Medical Foundation

|

; ,

: .

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |13.|Net|gains/(losses)|on investments| |Unrestricted|Total Funds|Unrestricted|Total Funds| |Funds|2023|Funds|2022| |£|£|£|£| |Gains/(losses)|on|listed|investments|5,509|5,509|(12,254)|(12,254)| |14.|Net expenditure| |Net|expenditure|is|stated|after|charging/(crediting):| |2023|2022| |£|£| |Depreciation|of tangible|fixed|assets|88|119| |15.|Independent|examination|fees| |;|Period|from| |Year|to|1|Feb|22|to| |31|Dec|23|31|Dec|22| |£|£| |Fees|payable|to|the|independent examiner|for:| |Independent|examination|of the|financial|statements|1,668|1,742| |16.|Staff|costs| |.| |The|total|staff costs|and|employee|benefits|for the|reporting period|are|analysed|as|follows:| |Period.|from| |Year|to|1|Feb|22|to| |31|Dec|23|31|Dec|22| |£|£| |Wages|and|salaries|'|2,800|7,251| |The|average head count of employees|during|the year was|1|(2022:|1).|,| |No|employee|received employee|benefits|of more|than £60,000|during|the|year.|

----- End of picture text -----

17. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

-15-

Peninsula Medical Foundation

: ;

:

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |18.|Tangible|fixed|assets| |‘|Equipment| |£| |Cost| |At|I|January 2023|and|31|December|2023|879| |Depreciation| |At|1|January 2023|524| |Charge|for the year|88| |At|31|December|2023|612| |Carrying|amount| |At|31|December|2023|267| |At|31|December|2022|355| |19.|Investments| |Listed| |investments| |£| |Market value|at|1|January 2023|297,097| |Additions|81,962| |Disposals|(54,738)| |Increase|in market|value|5,509| |Decrease|in cash|(23,547)| |Market|value|at 31 December|2023|306,283| |Equities|251,172||| |Securities|52,826| |Cash|2,285| |306,283| |All|investments|shown|above|are|held|at|valuation.| |Financial|assets|held|at|fair|value| |All|investments|shown above|are held|at valuation.|

----- End of picture text -----

-16-

Peninsula Medical Foundation

:

: . : :

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

20. Stocks
2023 2022
£ £
Rawmaterials andconsumables 1,600 1,800
21. Debtors
2023 2022
£ £
Prepayments and accruedincome 623 -.
Other debtors 84,014 3,526
84,637 3,526
22. Creditors: amounts falling due within one year
_ 2023 2022
£ £
Accruals and deferred income 1,730 77,085
Social security and othertaxes - 517
. 1,730 77,602

-17-

| | i !

Peninsula Medical Foundation

.

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

23. Analysis of charitable funds

Unrestricted funds

:

Gains and At
At 1 Jan2023 Income Expenditure Transfers losses 31Dec2023
£ £ £ £ £ £
General funds 236,101 24,638 (27,011) (6,266) 5,509 232,971
Revaluation reserve 21,275 - — 6,266 _ 27,541
DesignatedFund -
Microplastics
Biobank 160,700 - - - - 160,700
418,076 24,638 (27,011) - 5,509 421,212
. Gains and At
At 1 Feb 2022 Income Expenditure Transfers losses 31 Dec2022
£ £ £ £ £ £
General funds 330,549 88,995 (26,156) (145,033) (12,254) 236,101
Revaluationreserve 34,362 - - (13,087) - 21,275
DesignatedFund -
Postgraduate
Research 75,000 = (75,343) 343 - -
DesignatedFund - —
Microplastics
Biobank		 - ~ - 160,700 - 160,700
439,911 88,995 (101,499) 2,923 (12,254) 418,076

The general unrestricted fund represents the free funds of the charity which are not designated for particular purposes.

The Microplastics Biobank is for research in micro and nano plastic in human health.

| 1

-18-

;

.

Peninsula Medical Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

.

23. Analysis of charitable funds (continued)

Restricted funds :
Gains and At
At 1 Jan2023 Income Expenditure Transfers losses 31Dec2023
£ £ £ £ £ £
ParkinsonAppeal - 2,000 - - - 2,000
BrainTumour
Research 3,648 _ - - - 3,648
Dental Academic
Prize 6,500 - (6,500) - - -
Dental School
Prizes 4,618 — (4,618) - - -
Diabetes Plymouth
Fund 24,663 - - ~ = 24,663
The Fozzard
BursaryFund - 80,000 - - - 80,000
General Restricted 2,158 - - - - 2,158
41,587 82,000 (11,118) - - 112,469
Gains and At
At 1 Feb 2022 Income Expenditure Transfers losses 31 Dec 2022
£ £ £ £ £ £
Just Giving £1,048 .
andVospers £2,600 3,648 - - (3,648) - -
Brain Tumour
Research - - - 3,648 - 3,648
Dental Academic
Prize 6,500 - _ = = 6,500
Dental School
Prizes 4,618 — — — — 4,618
Diabetes Plymouth
Fund 24,663 - - - ~ 24,663
Dr Gould Prize
fund 73 - - (73) - _
General Restricted 2,158 - - — — 2,158
Music Prize 900 - - (900) - -
Peninsula Prize
Fund 1,950 - - (1,950) - -
44,510 = - (2,923) — 41,587

-19-

Peninsula Medical Foundation

:

:

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2023

23. Analysis of charitable funds (continued)

The restricted funds represent income donated to fund research funded in University of Plymouth and NHS hospitals in the SW Peninsula (for the nano-plastics project).

The Diabetes fund is to be used for research in Diabetes in the SW Peninsula.

‘The remaining prize monies are in the process of being amalgamated into general funds with the consent of donors, where applicable.

.

The Fozzard Bursary Fund is for a doctor to train as a dentist to enable a career in maxillary facial surgery.

24. Tangible fixed and current assets creditors less than 1 year

, Unrestricted Restricted TotalFunds
Funds Funds 2023
£ £ £
Tangible fixed assets 422,942 112,469 535,411
Creditors less than 1 year 1,730 - 1,730
Net assets 421,212 112,469 533,681
Unrestricted Restricted TotalFunds
Funds Funds 2022
£ £ £
Tangible fixedassets 495,678 41,587 537,265
Creditors less than 1 year (77,602) - (77,602)
Netassets 418,076 41,587 459,663

25. Related parties

Donations in the year were received from the following trustees:

J A Copplestone - £340 DC Wilkins - £240

There were no other related party transactions.

-20-