Registered charity number 1073581
Manchester Neurological Research Trust Fund
Annual Report and Receipts And Payments Accounts
for the year ended 5 April 2022
Manchester Neurological Research Trust Fund Report of the Trustees for the year ended 5 April 2022
The Trustees present their annual report and unaudited financial statements for the year ended 5 April 2022.
Reference and Administrative Information
Charity name
Manchester Neurological Research Trust Fund
Charity Registration Number 1073581 Registered Office Cerebral Function Unit Manchester Neuroscience Centre Salford Royal NHS Foundation Trust Salford M6 8HD
Trustees
Dr Anna Richardson Dr Matthew Jones Dr Christopher Kobylecki
Key management personnel
The charity has no employees. Management is provided by the board of trustees
Independent Examiner
Paul Cowham MA FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester M4 1LE
Bankers
Adam & Company 6 Adelaide Street London WC2N 4HZ
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Manchester Neurological Research Trust Fund Report of the Trustees for the year ended 5 April 2022
Structure, governance and management
Company status
The charity is an unincorporated charity constituted under a trust deed dated 28 December 1953.
Governing document
The charity's governing document is a trust deed dated 28 December 1953.
Recruitment and appointment of Trustees
Appointment of other trustees is at the discretion of the serving trustees. Training would be offered to new trustees by the existing trustees.
All decisions made on behalf of the charity are made by the trustees.
Risk Management
The trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate these risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Objectives and activities
Objects and aims
The objectives and activities of the charity are the research and scientific investigation into the causation, prevention, diagnosis and treatment of illness resulting from disease of the nervous system. The focus of the Trust’s activities is on dementia research. The Charity supports clinically based research as well as collaborative research with basic scientists from national and international academic research centres.
The trustees confirm that they have referred to guidance contained in the Commission's General Guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
Achievements and performance
The clinical research group has continued to collaborate with basic scientists in the University of Manchester, with a research focus on Alzheimer’s disease, the frontotemporal dementias and Motor Neurone disease.
Clinicopathological correlation remains a research focus, integrated within the Manchester Brain Bank.
Other work, in collaboration, is aiming to identify biomarkers in serum, in advance of what are hoped to be promising monoclonal antibody treatments becoming available to treat Alzheimer’s disease in its early stages.
We continue to sponsor a junior neurologist in his MD, the research performed in collaboration with the Cerebral Function Unit (CFU), Salford Royal Hospital and the University of Manchester. This two-year project focuses upon dementia that begins with pure language problems, known as Primary Progressive Aphasia. These are less common than other forms of dementia and currently have no medical management to halt or improve disease course. The research involves the use of a novel form of electrical brain stimulation in conjunction with skilled speech & language therapy.
We were without a research assistant in the post-pandemic period, hence our research expenditure has been lower this year. We now have a replacement in post
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Report of the Trustees for the year ended 5 April 2022
Manchester Neurological Research Trust Fund
Financial review and reserves policy
During the year the charity received donation income of £4,169, investment income of £26,411. £2,860 was used in furtherance of the charity's objectives.
The charity had cash reserves of £158,735 as at 5 April 2022. The trustees recognise that this is in excess over what it needs and are planning on making a donation of £15,000 for a Research Manager’s post within the department during the next year. This should help bring reserves down to a more realistic level and is in line with the charity’s objects.
Statement of Trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material 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 charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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 trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the Trustees and signed on their behalf by:
Anna Richardson
…………………………… Dr Anna Richardson
16 June 2023
…………………………… Date
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Independent Examiner’s Report to the Trustees of
Manchester Neurological Research Trust Fund
I report on the accounts of the charity for the year ended 5th April 2022 which are set out on pages 5 to 7.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedure laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Paul Cowham
Paul Cowham FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester M4 1LE
20 June 2023 Date ………………………
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Manchester Neurological Research Trust Fund
Year ending 5 April 2022
| Receipts and Payments Accounts 2022 Unrestricted funds Receipts £ Bank interest 13 Investment income 26,411 Donations 4,169 Sale of investments - Total receipts Payments Research activities Research assistant support - Brain tissue and blood processing - Pathological processing 2,760 PHD study 100 Administrative costs Portfolio management fees - Independent examiner's fees 840 Legal and professional fees - Bank charges 38 Just giving charges 216 Total payments Net of receipts/(payments) Cash funds last year end Cash funds this year end |
2021 Unrestricted funds as restated £ 33 23,906 3,530 - 30,593 17,973 4,200 - - 2,860 - - - 25 214 1,094 3,954 26,639 132,096 158,735 |
|
|---|---|---|
| 27,469 | ||
| 22,173 | ||
| 239 22,412 |
||
| 5,057 127,039 |
||
| 132,096 |
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Manchester Neurological Research Trust Fund
Year ending 5 April 2022
Statement of assets and liabilities at the end of the year
| Notes Cash funds Bank balances 1 Cash held by investment managers Investment assets Assets retained for the charity's own use Microscopy equipment Liabilities Professional fees 32512.298 M&G Charifund Units, market value at 31 March 2022 £513,600 115423.7 Brown and Shipley Growth 1 Fund Units, market value at 31 March 2022: £244,443 14 Smith and Nephew US$20 shares |
2022 Unrestricted funds £ 158,720 15 158,735 Cost 172,909 140,484 13 313,406 Cost 4,000 1,500 |
2021 Unrestricted funds as restated £ 132,081 15 |
|---|---|---|
| 132,096 | ||
| Cost 172,909 140,484 13 |
||
| 313,406 | ||
| Cost 4,000 |
||
| 1,590 |
Signed on behalf of the trustees:
Dr Anna Richardson Anna Richardson Name Signed
16-Jun-23
Date
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Manchester Neurological Research Trust Fund
Year ending 5 April 2022
Notes
1 Prior year adjustment
Cash balances brought forward at 6 April 2020 were understated by £1,000, which was the balance in an additional bank account not included. This has been amended in the comparative column in these accounts.
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