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← The Neurosciences Foundation Limited

2025-04-30-accounts

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Registered number: 3352650 Charity registered number: 1067627

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THE NEUROSCIENCES FOUNDATION LIMITED

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. Annual report

30 April 2025

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A10 09/01/2026 #205
COMPANIES HOUSE :
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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Company information

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Directors and trustees Directors and trustees R P Sengupta
TSengupta .
D Bates .
A Gholkar
M Baker
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ASengupta —
L Jaiser
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Secretary TSengupta °
Registered number 3352650 .
Charity registered number 1067627 z
Registered office 112 Moorside North _
Fenham
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Newcastle upon Tyne ,
NE4 9DX
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Bankers Barclays Bank Plc
; Newcastle WestGroup
446Westgate Road
; Newcastle upon Tyne .
NE49B

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

Trustees’ report for the year ended 30 April 2025

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The Directors and Trustees are pleased to present their report together with the financial statements of the charitable company for the year ended 30 April 2025.

Structure, governance and management

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The charitable company was incorporated on 15 April 1997 and was entered in the Central Register of Charities with effect from 22 January 1998.

New trustees are appointed as and when the opportunity arises. Prospective trustees are . known to at least one member of the existing board, are considered to be of good character "and are expected to be able to contributeto the objectives and activities of the charitable company. . Risk assessment. The major risks to which the charitable company is exposed, as identified by the Trustees, | have been reviewed and systems have been established to mitigate those risks. .

Objectives and activities ; The charitable company’s principal objectives and activities remain the same. Its main principle is to provide modern neurological services for a population of 300 million people . through the locally registered charity ‘Neurosciences Foundation, Bengal’ (NF, B). In addition, it.aims to train young doctors to become good neurosurgeons, as well as starting research activities in the future. The first project of NF, B was the formation of the National Neurosciences Centre (NNC) as a joint project with a private hospital, ‘Peerless Hospital’. In addition to patient care, NNC is also providing postgraduate education in Neurology and Neurosurgery. NNC is now self -supporting. The second project is the Institute of Neurosciences, Kolkata (I-NK), which has now been established and the Trustees are _ concentrating their efforts in developing this facility to its full potential. The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning future activities for both centres.

Achievements and performance

Institute of Neurosciences, Kolkata (I-NK)

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The success story of I-NK in spite of its birth pangs is phenomenal. The donors’ mission of ___ commercialSkilled medicalmotivecare,hasempathymade theto patientssuccess story.and affordableThere is no‘fivepublicity,star’ treatmentno advertisementwithout andany no commission to the doctors for referral. Yet I-NK is marching ahead. Even its critics, namely the outside neurosurgeons and neurologists admire its work. They do not support but respect . the Institution. In addition, the Government, although not supporting us, feel proud of its existence. Some of its achievement are as follows: ,

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

Trustees’ report for the year ended 30 April 2025

  1. September 2015: the Institute was awarded as one ofthe[ best] equipped[infrastructure] for Neuroscience in the country by Frost & Sullivan Company.

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  1. February 2016: The Times of India Group has voted I-NK as having the best Intensive Care Unit in the North East of India. _

On the education front the first neurosurgeon and neurologist have graduated with National Board Diplomas (DNB) from I-NK, a major achievement for any hospital.

Research collaboration between Newcastle and Kolkata continues to be very strong. I-NK is - currently the only research centre in India invited to be involved in an international research - programme involving Newcastle University, Israel, the Netherlands and Spain on Hospital Acquired Infection.

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About Institute of Neurosciences, Kolkata (I-NK)

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The Institute of Neurosciences, Kolkata (I-NK) is a one of its kind hospital in Eastern India for the treatment of neurological disorders which is within the reach of 300 million people in the region and neighbouring areas. It is a not-for-profit charitable company. The hospital is fully air- conditioned and equipped with 195 beds, 55 fully furnished examination rooms and five operating theatres with state of the art equipment. This Neurosciences Institute in the heart of Kolkata is twinned with the Regional Neurosciences Centre in Newcastle upon Tyne, UK and has neurology, neurosurgery, neuro-rehabilitation and neuro-psychiatry treatment programs for adults and children. It is a comprehensive and advanced facility for - Neurosurgery, Endovascular and related treatments in the Eastern segment of India. It has been certified as the only super-speciality neurosciences hospital-by the government of West Bengal and a premiere Research Institute by the DSIR, government of India in 2012. It has many joint research programs with the Institute of Neurosciences, University of Newcastle upon Tyne, UK. .

I-NK had a successful year, seeing an increase in surgical cases and patient numbers. Twonew - annex buildings have been added, good process has been seen on the construction of a sixstorey building in the former car park area. A gamma knife centre will be established in the basement of this new building to cope with the demand of our own patients; this will be the first of its kind in the whole of the northeast of India and the neighbouring countries.

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National Neurosciences Centre (NNC)

NNC is now in its 28th year of existence since 1997 and for 26 years it has been an autonomous institution. It has pioneered and piloted the resurgence of Neurosciences in. Kolkata for the first time in India. In addition to providing excellent services it is imparting post-graduate education in Neurology and Neurosurgery. At- present there are five . postgraduate students in neurosurgery and two in neurology.

THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Trustees’ report for the year ended 30 April 2025

Financial review

Reserves policy

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It is not anticipated that there will be an accumulation of reserves in the longer term since the money raised will be utilised to support Neurosciences in Kolkata.

Financial risk management policy

The charitable company's principal financial instruments comprise cash and cash equivalents. Other financial assets and liabilities, such as trade creditors, arise directly from the charitable company’s operating activities.

The main risks associated with the charitable company’s financial assets and liabilities are set out below. The charitable company does not undertake any hedging activity.

Interest rate risk

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The charitable company invests surplus cash in short term fixed and variable rate interest yielding deposit accounts. Therefore financial assets, liabilities, interest income and cash | _ flows can be affected by movements in interest rates. However, the Trustees donot consider. there to be any significant exposure. Price risk .

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There is no significant exposure to changes in the carrying value of financial liabilities.

Credit risk

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The charitable company's policy is aimed at minimising such losses. Individual exposures and . overdue debts are monitored to ensure that the charitable company's exposure to bad debts is managed accordingly.

Liquidity risk

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The charitable company aims to mitigate liquidity risk by managing cash generated by its operations. Capital expenditure is minimal but is approved by the Trustees and flexibility is maintained by retaining sufficient surplus cash in readily accessible bank accounts.

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Trustees’ report for the year ended 30 April 2025

Foreign currency risk

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The charitable company's principal transactions are in pounds sterling, with a relatively . limited number of[transactions][in][foreign][currency.][ The][charitable][ company][ does][not consider] . the risk to be of such significance to warrant any hedging activity.

Investment policy

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Surplus funds are placed on bank deposit in order to achieve the best possible returns consistent with maintaining sufficient liquidity.

Plans for future periods

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The Institute is now fully functioning, the need for financial contribution from abroad is reduced and it should be limited to services for the large numbers of poor people who cannot afford any treatment at all. The business plan prepared by PricewaterhouseCoopers suggests _ that even with low cost affordable treatment and 20% free beds, the new hospital should run on its own income. In addition to the continuation of patient care and postgraduate . education, research activities will start in earnest. Satellite centres will be opened in various parts of the North East of India for availability of safe and modem neurological careto more. and more people.

In view of the number of outpatients visiting daily and the full occupancy of the patient beds, |-NK are in the process of acquiring a building close by to cope with all this overflow. It is the intention of this charitable company to financially support this expansion. It will continue along with similar such organisations in the USA and Canada to provide volunteer neurosurgeons and nurses.

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Small company provisions

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. ;

Signed on behalf of the board:

R P Sengupta Trustee 6 January 2026

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

Statement ofTrustees’ responsibilities[in] respect of the financial statements

The Trustees, who are also directors of The Neurosciences Foundation Limited (a company limited by guarantee), are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations. )

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' Charity and company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not _ approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the charitable company for that period. In preparing these financial statement;, the Trustees are required to: . |

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other[jurisdictions.]

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

Statement of financial activities for the year ended 30 April 2025

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‘2025 2024 ;
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‘Incomeand expenditure ,
' Voluntary income— donations. 27,902 1,000
Interest income 35 28
Total incoming resources 27,937 1,028
Resourcesexpended
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. Bank charges . 59 ot
_ Donations paid 201,000 -
Total resources expended 201,059 -
Net (outgoing)/incoming resourcesforthe year (173,122) 1,028 ©
Total funds brought forward 225,068 224,040
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Totalfunds carried forward 51,946 ___225,068

All activities are continuing.

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Balance sheet at 30 April 2025

Company number: 3352650 Charity registered number: 1067627

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2025 2024 -
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Current assets
Cash at bank and in hand 51,946. 225,068
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Current liabilities ) _ ;
Trade creditors and accruals - -
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Net current assets . 51,946 225,068
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Total assets less current liabilities 51,946 225,068
FundsUnrestricted~ 7 — general fund , 51,946 - ; . 225,068
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For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part15 of the Companies Act 2006.

These financial statements were approved for issue by the Board of Trustees and were signed on its behalf by:

R P Sengupta Trustee 6 January 2026

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THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Notes to the financial statements

at 30 April 2025

1. Accounting policies

General information

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The company is a private company limited by shares, incorporated in England and Wales.

Fenham Newcastle upon Tyne NE4 9DX :

Summary ofsignificant accounting policies and key accounting estimates

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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied, unless otherwise stated.

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Statementof compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section IA - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

Basis of preparation

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These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are presented in GBP and all values are rounded to the nearest pound (£), except when otherwise indicated.

. Going concern.

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The directors have satisfied themselves that the company can continue to pay its liabilities as the fall due for the period of at least 12 months from the date of approval of these financial statements. The financial statements are therefore prepared on a going concern basis.

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Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Incoming resources

All incoming resources are recognised once the charitable company has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. ;

THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

Notes to the financial statements (continued) at 30 April 2025 .

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There are no structured activities to generate voluntary incoming resources. The charitable company relies on regular donations from people connected with the project.

Resources expended

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Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charitable company to the expenditure. All expenditure is . accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Governance costs are those incurred in connection with the governance of the charitable company and its assets and are primarily associated with constitutional and statutory requirements. ;

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“°The average number of persons employed by the company (including directors) during - the year, was 7 (2024-6). ;

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3. Movementson reserves
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Total
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At 1 May 2024 225,068
Outgoing resources forthe year — _ (173,122)
At 30April2025 , 51,946

3. Movements on reserves

4. Limited liability

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_ THE NEUROSCIENCES FOUNDATION LIMITED (a company limited by guarantee)

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Notes to the financial statements (continued) at 30 April 2025

5. Controlling party. mo

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. In the Trustees' opinion; Mr RP Sengupta is the controlling party of the charitable - , ; company.