Charity no. 1080327
Sick Doctors Trust Report and Unaudited Financial Statements
31 March 2022
Sick Doctors Trust
Reference and administrative details
For the year ended 31 March 2022
Charity number 1080327 Registered office 2/1 57 Fotheringay Road Glasgow G41 4NN Trustees Trustees who served during the year and up to the date of this report were as follows: David Barker Toby Branfoot Jacqueline Chang Elizabeth Croton Catherine Dent Michael Dougan Adam Farmer John Humphreys Cathryn Jacob Ruth Margaret Mayall Douglas McLeod Janusz Skrybant Jonathan Hyatt Williams Mark Wrigley Alasdair Young Bankers Bank of Scotland The Mound Edinburgh EH1 1YZ COIF Charity Funds 85 Queen Victoria Street London EC4V 4ET Accountants Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
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Sick Doctors Trust
Report of the trustees
For the year ended 31 March 2022
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
Statement of responsibilities of the trustees
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The 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 state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for 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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observe the methods and principles in the Charities SORP;
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make judgements and accounting 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 material departures disclosed and explained in the financial statements; and
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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 which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees 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 corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Approved by the trustees on 25 June 2022 and signed on their behalf by
Janusz Skrybant
Janusz Skrybant - Trustee
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Sick Doctors Trust
Chartered accountant's report to the board of trustees on the preparation of the unaudited statutory accounts
For the year ended 31 March 2022
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the accounts of Sick Doctors Trust for the year ended 31 March 2022 as set out on pages 4 - 9 from the charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the board of trustees of Sick Doctors Trust, as a body, in accordance with the terms of our engagement letter dated 27 April 2021. Our work has been undertaken solely to prepare for approval the accounts of Sick Doctors Trust and state those matters that we have agreed to state to them in this report in accordance with ICAEW Technical Release 08/16 AAF as detailed at http://www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sick Doctors Trust and its board of trustees, as a body, for our work or for this report.
You have approved the financial information for the year and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information.
Date: 27 June 2022 Laura Richards ACA Member of the ICAEW
For and on behalf of:
Godfrey Wilson Limited
Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
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Sick Doctors Trust
Statement of financial activities
For the year ended 31 March 2022
| Note Income from: Donations 2 Investments Total income Expenditure on: Charitable activities Total expenditure 3 4 Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) and net movement in funds |
2022 Total £ 5,991 26 6,017 8,461 8,461 (2,444) 68,328 65,884 |
2021 Total £ 5,519 49 5,568 2,547 2,547 3,021 65,307 68,328 |
|---|---|---|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. All income and expenditure pertains to unrestricted funds.
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Sick Doctors Trust
Balance sheet
As at 31 March 2022
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2022 2021
Note £ £ £
Current assets
Debtors 6 - 1,500
Cash at bank and in hand 66,694 67,608
Liabilities
Creditors: amounts falling due within 1 year 7 (810) (780)
Net current assets 65,884 68,328
Net assets 65,884 68,328
Funds
Unrestricted funds 65,884 68,328
Total charity funds 65,884 68,328
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Approved by the trustees on 25 June 2022 and signed on their behalf by
Janusz Skrybant
Janusz Skrybant - Trustee
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Sick Doctors Trust
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Sick Doctors Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern. The Covid pandemic has no material impact on the charity's funds.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
e) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
f) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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Sick Doctors Trust
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies (continued)
g) Allocation of support and governance costs
- Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. As the majority of the Trust's overheads directly underpin charitable activities, support and governance costs have been allocated in full to charitable activities.
h) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
i) 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.
j) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
k) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
l) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.
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Sick Doctors Trust
Notes to the financial statements
For the year ended 31 March 2022
2. Donations
| Local medical committees Other donations Total donations |
2022 Total £ 5,791 200 5,991 |
2021 Total £ 5,319 200 5,519 |
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3. Total expenditure
| Hardship support Room hire Helpline Website and database development Insurance Trustees' expenses Accountancy Administration costs Total expenditure Total governance costs are £2,665 (2021: £1,142). |
£ - - - - - - - - - Raising funds |
£ 1,850 2,351 861 132 421 1,855 810 181 8,461 Charitable activities |
£ 1,850 2,351 861 132 421 1,855 810 181 8,461 2022 Total |
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Prior year comparative
| Helpline Website and database development Insurance Treasurer's expenses Accountancy Total expenditure |
£ - - - - - - Raising funds |
£ 852 132 421 301 841 2,547 Charitable activities |
£ 852 132 421 301 841 2,547 2021 Total |
|---|---|---|---|
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Sick Doctors Trust
Notes to the financial statements
For the year ended 31 March 2022
4. Net movement in funds
This is stated after charging:
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|---|---|---|---|
|2022|2021|
|£|£|
|Trustees' reimbursed expenses|2,036|301|
|Independent examiner's remuneration:|
||Independent examination (including VAT)|810|780|
||Other services (including VAT)|-|61|
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Six trustees' were reimbursed £1,855 for travel costs and £181 for administration costs. (2021: Two trustees' were reimbursed £301 for administration costs)
5. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
6. Debtors
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|---|---|---|
|2022|2021|
|£|£|
|Other debtors|-|1,500|
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7. Creditors : amounts due within 1 year
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|---|---|---|
|2022|2021|
|£|£|
|Accruals|810|780|
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8. Related party transactions
There were no related party transactions in the current or prior reporting period.
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