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← Kidney Research Yorkshire

2024-09-30-accounts

UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KIDNEY RESEARCH YORKSHIRE LIMITED

REGISTERED COMPANY NUMBER 5205363 REGISTERED CHARITY NUMBER 1106412

KIDNEY RESEARCH YORKSHIRE LIMITED

REGISTERED COMPANY NUMBER 5205363 REGISTERED CHARITY NUMBER 1106412

INDEX TO THE FINANCIAL STATEMENTS

Page
Business Information 2
Report of the Trustees 3
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 12

1

KIDNEY RESEARCH YORKSHIRE LIMITED

REGISTERED COMPANY NUMBER 5205363 REGISTERED CHARITY NUMBER 1106412

BUSINESS INFORMATION

DIRECTORS: J. L. Wiley J. H. Marryat PATRONS: The Lord St. Oswald Trevor Gurney, FCA Christine Talbot Judith Blake Prof. Alex M. Davison, RD, MD, FRCP Danni Hewson Matthew Lewis Kevin Sinfield MBE Stuart Andrew MP Professor Graham A. Leslie Hon DBA, CBE Tim Hogarth SECRETARY: Rachel Dunhill MAAT, ACA REGISTERED OFFICE: St Peg’s Mill Brighouse West Yorkshire HD6 4AH BANKERS: Yorkshire Bank PLC 94-96 Briggate Leeds LS1 6NP INVESTMENT FUND MANAGERS: Brewin Dolphin Securities Limited P O Box 512 National House 36 St Ann Street Manchester, M60 2EP INDEPENDENT EXAMINER: Daniel Brownhill FCA, FMAAT Integra Advisers LLP 1 Westleigh Hall Wakefield Road Denby Dale Huddersfield HD8 8QJ

2

KIDNEY RESEARCH YORKSHIRE LIMITED

REPORT OF THE TRUSTEES

The trustees are pleased to present their report together with the financial statements of the charity for the year ending 30 September 2024.

Reference and administrative details

Charity number: 1106412 Company number: 5205363 Registered Office: St Peg’s Mill Brighouse West Yorkshire HD6 4AH Independent Examiner: Daniel Brownhill FCA FMAAT Integra Advisers LLP 1 Westleigh Hall Wakefield Road Denby Dale Huddersfield HD8 8QJ Bankers: Yorkshire Bank PLC 94-96 Briggate Leeds LS1 6NP

Directors and trustees

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The trustees serving during the year and since the year end were as follows:

Elected Trustees Julian L Wiley Rachel Dunhill J. Hilary Marryat Company Secretary Rachel Dunhill

Structure, Governance and Management

Governing Document

Kidney Research Yorkshire Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 13 August 2004 as amended on 27 September 2004 and 6 September 2018. It is registered as a charity with the Charity Commission.

Anyone can become a member of the Company. Each member agrees to contribute such amount as is required (not exceeding £10) in the event of the charity winding up.

Appointment of trustees

The trustees are appointed by the Board of Trustees and serve for three years after which period they may put themselves forward for re-appointment. The Articles of Association states that the number of trustees shall not be less than three but shall not be subject to a maximum.

3

KIDNEY RESEARCH YORKSHIRE LIMITED

REPORT OF THE TRUSTEES continued

Prior to the AGM, all members are circulated with details of any person (other than a trustee retiring by rotation) who is recommended by the trustees for appointment as a trustee or in respect of whom notice has been given to the Charity of the intention to propose him at the meeting for appointment or reappointment as a trustee.

Trustee induction and training

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The board of trustees administers the charity. The board, together with the members meet monthly. The trustees may appoint one or more sub-committees consisting of two or more trustees for the purpose of performing any function or duty which is deemed necessary for the running of the charity.

Risk management

The trustees examine the major risks that the charity faces each financial year when preparing and updating the strategic plan. Through regular trustees meetings the Fund can monitor the situation and control these risks to mitigate any impact that they may have on the Fund’s future.

This work has identified only a few minor risks. Particular attention has focussed on asset management and the variability of donation and legacies received. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

Objectives and activities for the public benefit

The objects of the charity are to advance knowledge through research and to relieve sickness by the promotion and support of scientific clinical and transplant research in Yorkshire and the Humber, and elsewhere, to benefit children and adults suffering from kidney disease. The trustees confirm that they have referred to the guidance contained in the Charity 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.

The charity achieves its objectives by issuing grants to promote or carry out research and publishing and distributing information.

The main objectives for the year continue to be the promotion of the charity and the raising of the public’s awareness as to activities of the charity.

The strategies employed to achieve the charity’s objectives are:

Grant making policy

Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish.

The charity invites applications for grants in renal research to be carried out in universities and hospitals across the Yorkshire and the Humber although applications can be considered from elsewhere. Most grants are awarded for up to three years though these can be extended to support the next stage in the research process. Applications made in the correct format are reviewed to ensure that the research criteria are being met and it is then peer reviewed to ensure that the project is worthy of support.

4

KIDNEY RESEARCH YORKSHIRE LIMITED

REPORT OF THE TRUSTEES continued

Currently the applications are received by ”word of mouth” however advertising in the specialist press will be considered if grant money is available and no appropriate applications are received. . .

Details of how to apply for grants together with the relevant forms are available from the registered office.

Volunteers

With the exception of one administrator and one fundraising manager, all trustees and members of the charity are volunteers. The Fund is grateful for the unstinting efforts of these volunteers who are involved in service provision and fundraising.

Achievements and performance

Our grant application process allows for 2 application windows during the year. The maximum total of grants to be approved is set at £100,000 with a further £50,000 being considered in exceptional circumstances.

Grants approved in the year totalled £174,701 and the awards are analysed in note 8 to the accounts.

Al other projects currently being funded are progressing as anticipated and it is expected that results will be available over the coming year.

Financial Review

Total income for the year was £247,097, an increase of 167.20% on the 2023 income. This increase is due to legacy income increasing from £20,000 in 2023 to £183,323 in 2024.

The net movement in funds for the year shows a surplus of £171,534 (2023 – deficit of £69,648). Included in this is a net gain on investments of £176,500 (2023 –gain of £67,065). Of this net gain of £176,500, £10,271 relates to realised gains and £166,229 relates to unrealised gains on the revaluation of investments at 30 September 2024.

5

KIDNEY RESEARCH YORKSHIRE LIMITED

REPORT OF THE TRUSTEES continued

Investment powers and policy

The trustees, having regard to the liquidity requirements of issuing grants keep some funds available in interest bearing accounts and equities and seek to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index.

As at 30 September 2024 the investment portfolio managed by Brewin Dolphin was valued at £1,331,107. This value includes the dividend income received from the shares, as this income is now being re-invested into the portfolio. Total income received from dividends in the year was £28,911 (2023 - £25,902)

The investment held in the COIF fund was valued at £227,081 at 30 September 2024, an increase of 12.70% in the year.

Reserves policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. The charity is largely dependent upon donations and legacies: in 2024, these made up 82.82% of total income. These donations and legacies cannot be relied upon for future income. Sufficient reserves are therefore held to ensure that not only can the charity cover its expenses for the foreseeable future but also that grants can continue to be issued should donated income not be forthcoming.

In addition, although an annual limit is put upon the total value of grants approved, the charity is keen to retain sufficient reserves such that should a large grant application be received that the charity considers worthwhile, it would be in a position to support the research.

The actual reserves at 30 September 2024 were £1,470,454. In calculating reserves, the trustees have excluded from total funds the restricted income funds of £46,463.

Plans for future periods

The charity is constantly inviting applications from credible research teams in the Yorkshire area.

The charity continues to be a project based charity, and is well known by renal researchers in the area. The charity is currently working on a collaboration with Kidney Research UK is hoped that some major applications will be received in the coming year.

For 2024 the two grant application windows during which the charity will accept grant applications will be from April-June and October-December each year. In the intervening months applications submitted in the previous application window will be considered with grants being approved and announced in September and March. The annual amount of grant to be awarded will be up to £100,000, with a further £50,000 being considered in exceptional circumstances.

The Charity’s Trustees and the Fundraising Manager have been exploring the introduction of various novel fundraising initiatives. These have been considered essential with a decline in legacy income and donations.

The trustees have reviewed the current situation relating to the Covid-19 pandemic and its effect on the ability of the charity to continue. Taking account of the availability of working capital, the trustees have concluded that the charity will be able to meet its financial obligations as they fall due for at least twelve months from the date of approval of these financial statements. Consequently these financial statements have been prepared on the basis that the charity is a going concern.

6

KIDNEY RESEARCH YORKSHIRE LIMITED

REPORT OF THE TRUSTEES continued

Trustees’ responsibilities in relation to the financial statements

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 charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the trust deed. 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 corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Accountants

A resolution will be proposed at the Annual General Meeting that Daniel Brownhill of Integra Advisers LLP be re-appointed as Independent Examiner for the charity for the ensuing year.

By order of the trustees

Julian Wiley (May 27, 2025, 11:51am) Julian L Wiley Chair

Date: 14 May 2025

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

KIDNEY RESEARCH YORKSHIRE LIMITED

I report to the trustees on my examination of the financial statements of the company for the year ended 30 September 2024 which are set out on pages 9 to 21.

Responsibilities and basis of report

As the trustees of the company (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts 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 your company’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:

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 accounts to be reached.

Daniel Brownhill FCA FMAAT INTEGRA ADVISERS LLP 1 Westleigh Hall Wakefield Road Denby Dale Huddersfield HD8 8QJ

Dated: 27 May 2025

8

KIDNEY RESEARCH YORKSHIRE LIMITED

UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) for the Year Ended 30 September 2024

Notes
Unrestricted Funds Restricted Funds
£
£
INCOME:
Donations and legacies
2
204,638
-
Other trading activities
3
7,327
-
Investments
4
35,132
-
TOTAL INCOME
247,097
-
EXPENDITURE:
Cost of raising funds
5
42,041
-
Charitable activities
7
210,022
-
Other – software costs
-
-
TOTAL EXPENDITURE
252,063
-
Net expenditure and
Net movement in funds before
gains and losses in investments
(4,966)
-
Net gain on investments
176,500
-
Net income/(expenditure) and net
Movement in funds for the year
171,534
-
Total funds brought forward
1,298,920
46,463

Total funds carried forward
1,470,454
46,463
 Total

2024

£

204,638
7,327
35,132
247,097
42,041
210,022
-
252,063
(4,966)
176,500
171,534
1,345,383

1,516,917
 Total
2023
£
44,736
18,994
28,745
92,475
48,224
180,923
41
229,188
(136,713)
67,065
(69,648)
1,415,031
1,345,383

The notes on pages 12-21 form part of the financial statements

These unaudited financial statements have been subjected to an independent examination See report on page 8

9

KIDNEY RESEARCH YORKSHIRE LIMITED REGISTERED COMPANY NUMBER 5205363

UNAUDITED BALANCE SHEET at 30 September 2024

Notes
Unrestricted Funds Restricted Funds
£
£
FIXED ASSETS
Investments
10
1,511,725
46,463
CURRENT ASSETS
Debtors
11
-
-
Cash at bank and in hand
12
193,881
-
Total current assets
193,881
-
CREDITORSAmounts
falling due within one year
13
(193,902)
-
NET CURRENT LIABILITIES
(21)
-
-------------
-----------
NET ASSETS LESS CURRENT
LIABILITIES
1,511,704
46,463
CREDITORSAmounts
falling due after one year
14
(41,250)
-
NET ASSETS
1,470,454
46,463
The funds of the charity:
Restricted income funds
16
-
46,463
Unrestricted income funds
15
1,470,454
-
1,470,454
46,463		 Total

2024

£

1,558,188
-
193,881
193,881
(193,902)
(21)
-------------
1,558,167
(41,250)
1,516,917
46,463
1,470,454
1,516,917		 Total
2023
£
1,479,972
656
13,742
14,398
(108,987)
(94,589)
--------------
1,385,383
(40,000)
1,345,383
46,463
1,298,920
1,345,383

The trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.

The notes on pages 12-21 form part of these financial statements

These unaudited financial statements have been subjected to an independent examination. See report on page 8

10

KIDNEY RESEARCH YORKSHIRE LIMITED REGISTERED COMPANY NUMBER 5205363

UNAUDITED BALANCE SHEET

at 30 September 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company regime under the Companies Act 2006 and in accordance with FRS102 SORP.

…………………………………………….

J L Wiley - Trustee Julian Wiley (May 27, 2025, 11:51am)

Approved by the Trustees on 14 May 2025

The notes on page 12-21 form part of these financial statements

These unaudited financial statement have been subjected to an independent examination. See report on page 8

11

KIDNEY RESEARCH YORKSHIRE LIMITED

UNAUDITED NOTES TO THE ACCOUNTS 30 September 2024

1. ACCOUNTING POLICIES Basis of preparation

The financial statements are prepared in accordance with the 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)) (issued in October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), The Charities Act 2011 and the Companies Act 2006.

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling which is the functional currency of the entity.

Kidney Research Yorkshire Limited meets the definition of a public benefit entity under FRS 102.

Going Concern

The charity has net current liabilities of £21 (2023 - £94,589). The trustees have carried out a detailed review of the charity’s resources and have reviewed the financial position of the charity for a period covering the following 12 months and consider that it is appropriate to prepare the accounts on a going concern basis.

Incoming

Income represents amounts received and receivable by the charity from donations, legacies, investment income and fund raising events.

Income is recognised in the financial statements when the charity has entitlement to the funds, entitlement has been notified, and performance conditions attached to the items of income have been met or are fully within the control of the charity, there is sufficient certainty this receipt of the income is probable and the amount receivable can be measured with reasonable reliability.

The following specific policies are applied to particular categories of income:

Donations and legacies are only recognised when the charity has unconditional entitlement to the income, it is probable that the donations and legacies will be received and can be measured with sufficient reliability.

Other trading activities represent dinner dance income and fundraising events which are recognised when the gift is received.

Incoming resources from tax reclaims are recognised at the same time as the gift to which they relate.

Investment income is recognised when receivable. Investment gains and losses includes any gains or losses on the sale of investments and any gains or losses resulting from revaluing investments to market value at the year end.

Expenditure

Expenditure is accounted for on an accruals basis and is shown gross of VAT, which is not recoverable. It is recognised once there is a legal or constructive obligation to make payments to a third party, it is probable that a settlement will be required and the amount of the obligation can be measured reliably.

Cost of raising funds include those in relation to the operation of the charity and its investment portfolios.

Charitable activities represent grants, donations and costs primarily associated with the governance of the charity and meeting its statutory requirements.

12

KIDNEY RESEARCH YORKSHIRE LIMITED

UNAUDITED NOTES TO THE ACCOUNTS 30 September 2024

Grants

Grants are accounted for in the year in which they are approved, irrespective of the period covered by the grants. Grants awarded but not yet paid are recorded as grant commitments in the balance sheet.

Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in the expenditure in the period of receipt.

Financial instruments

The trust 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 at their settlement value.

Funds

Unrestricted funds

Unrestricted funds are those funds available to further the fund’s charitable objectives at the discretion of the trustees.

Restricted funds

Restricted funds are funds which have been given for a particular purpose and project. The Icebirg Project fund must be used for research work regarding the Algorithm Programme. The balance on the Mary Strang legacy, which is held within restricted funds, is to be used for work in connection with the renal units’ paediatric department in Leeds.

Investments

Listed investments are valued at the market value ruling at the balance sheet date.

2. DONATIONS AND LEGACIES

Unrestricted
Restricted
Funds
Funds

£
£
Donations
21,315
-
Legacies
183,323
-
204,638
-		 Total
Funds

2024
£
21,315
183,323
204,638		 Total
Funds
2023
£
24,736
20,000
44,736

13

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

3. OTHER TRADING ACTIVITIES

Unrestricted
Funds
£
Dinner dance income
-
Fund raising events
7,327
7,327
4.
INVESTMENT
Unrestricted
Funds
£
Investment income
30,585
Bank interest
4,163
Gift Aid
384
35,132		 Restricted
Funds

£
-
-
-
Restricted
Funds

£
-
-
-
-		 Total
Funds

2024
£
-
7,327
7,327
Total
Funds

2024
£
30,585
4,163
384
35,132		 Total
Funds
2023
£
430
18,564
18,994
Total
Funds
2023
£
27,218
871
656
28,745
5. COSTS OF GENERATING
VOLUNTARY INCOME
Unrestricted
Funds
£
Dinner dance costs
-
Advertising
4,800
Fundraising events
3,010
Repairs and renewals
257
Rent
2,795
Staff costs
20,480
Travel costs
624
Newsletter costs
-
Postage, printing and stationery
83
Telephone
536
Investment management fees (note 6)
8,923
Just giving fees
533
Sundry
-
42,041		 Restricted
Funds

£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Funds

2024
£
-
4,800
3,010
257
2,795
20,480
624
-
83
536
8,923
533
-
42,041		 Total
Funds
2023
£
-
4,800
4,473
-
2,795
23,683
364
2,123
8
639
9,041
274
24
48,224

14

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

6. INVESTMENT MANAGEMENT COSTS

INVESTMENT MANAGEMENT
COSTS
Unrestricted Restricted Total Total
Funds Funds
 Funds
 Funds
2024 2023
£ £ £ £
Brewin Dolphin fees 8,923 - 8,923 9,041

7. CHARITABLE ACTIVITIES

Unrestricted
Funds
£
Staff costs
20,480
Stationery, printing and postage
83
Rent
2,795
Grants (note 8)
174,701
Governance costs (note 9)
11,963
210,022		 Restricted
Funds
£
-
-
-
-
-
-		 Total
Funds

2024
£
20,480
83
2,795
174,701
11,963
210,022		 Total
Funds
2023
£
23,683
8
2,795
140,486
13,951
180,923

15

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

8. GRANTS AWARDED TO INDIVIDUALS

Grants awarded in the year charged to the Statement of Financial Activities included:

Unrestricted
Funds
£
Dr Winterbottom
2,320
KRUK – Professor Johnson
-
KRUK – Professor McDonald
-
Dr Lewington – release unused grant
-
Dr Will – release unused grant
-
Dr Lewington
42,624
Dr Wright
82,351
Dr Roberts
45,000
Dr Chinnappa
2,406
174,701		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 Total
Funds

2024
£
2,320
-
-
-
-
42,624
82,351
45,000
2,406
174,701		 Total
Funds
2023
£
29,979
58,500
61,500
(1,159)
(8,334)
-
-
-
-
140,486

Grants are paid in respect of applications made by individual researchers who, as part of the grant process, confirm the institution with which they are associated with. Institutions are responsible for the management of the grants, but the grants remain the responsibility of the individual researcher.

9. GOVERNANCE COSTS

Unrestricted
Restricted
Funds
Funds

£ £
Staff costs
6,668
-
Postage, stationery and printing
27
-
Insurance
286
-
Rent
910
-
Filing fee
34
-
Independent examination
3,480
-
Payroll costs
173
-
Finance charges
385
-
Legal fees
-
-
11,963
-		 Total

Funds

2024

£
6,668
27
286
910
34
3,480
173
385
-
11,963		 Total
Funds
2023
£
7,711
2
273
910
-
3,300
173
654
928
13,951

The independent examiner’s remuneration amount to an independent examination fee of £3,480 (2023 - £3,300) and payroll services of £173 (2023 - £173).

16

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS

30 September 2024

10. INVESTMENTS
Quoted investments 2024 2023
£ £
Market value at 1 October 2023 1,441,782 1,422,369
Less: Disposals at opening book cost (491,682) (678,045)
Add: Acquisitions at cost 413,990 664,121
Net gain on revaluation at 30 September 2024 166,229 33,337
_
Market value at 30 September 2024 1,530,319 1,441,782
Cash held in investment portfolio 27,869 38,190
______
Total investments at 30 September 2024 1,558,188 1,479,972
_
Historical cost at 30 September 2024 1,213,987 1,309,627
_
Investments are analysed as follows:
2024 2023
Market % of Total Market % of Total
value
__ value
£ £
Absolute Return 34,984
2.25%		 63,847 4.31%
Asia Pacific Equities 76,166
4.89%		 78,698 5.32%
Emerging Markets Equities 14,498
0.93%		 6,336 0.43%
UK Equities 248,775
15.97%		 226,012 15.27%
European Equities 66,185 4.25%
59,925		 4.05%
Global Investments 50,939
3.27%		 89,708 6.06%
Japanese Equities 39,726
2.55%		 40,674 2.75%
Property 40,432
2.59%		 28,257 1.91%
UK Bonds 144,551
9.28%		 84,360 5.70%
N American Equities 435,742
27.96%		 344,761 23.30%
Commodities 40,782
2.62%		 38,220 2.58%
Overseas Bonds 86,667
5.56%		 127,989 8.65%
Other 23,791
1.53%		 51,503 3.48%
COIF 227,081
14.57%		 201,492 13.61%
Cash 27,869
1.78%		 38,190 2.58%
SUB TOTAL 1,558,188
100.00%		 1,479,972 100.00%

At 30 September 2024 the following individual investments made up more than 5% of the market value of the total portfolio.



Vanguard Funds PLC S&P 500 ucits etf
Fidelity UCITS ICAV US Quality income		 2024
Market
% of Total
value
78,974
5.07%
90,678
5.82%		 2024
Market
% of Total
value
78,974
5.07%
90,678
5.82%
5.07%
5.82%

17

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

11.
DEBTORS


Prepayments and accrued income
12.
CASH AT BANK


Current Accounts
Deposit Accounts
Petty cash
Just Giving

13.
CREDITORS – Amounts falling due within one year


Other creditors
Grants committed
Other taxation and social security
Accruals and deferred income
14.
CREDITORS – Amounts falling due after more than one year


Grants committed		 2024
2023
£
£
-
656

_
-
656

_
2024
2023
£
£
192,683
12,562
967
919
87
56
144
205

_
193,881
13,742
_
2024
2023
£
£
19,809
19,876
166,090
81,289
2,191
2,244
5,812
5,578

_
193,902
108,987

_
2024
2023
£
£
41,250
40,000

_
41,250
40,000

_

18

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

15. UNRESTRICTED INCOME FUNDS


Unrestricted funds

Unrestricted funds		 Balance
01/10/23
£
1,298,920
1,298,920

Balance
01/10/22
£
1,376,902
1,376,902		 Income
Expenditure

£
£
247,097
(252,063)
247,097
(252,063)
Income
Expenditure

£
£
92,475
(237,522)
92,475
(237,522)		 Gain
Balance
on revaluation
30/09/24
£
£
176,500
1,470,454
_
176,500
1,470,454
_
Gain
Balance
on revaluation
30/09/23
£
£
67,065
1,298,920
_
67,065
1,298,920
_

16. RESTRICTED INCOME FUNDS

The income includes restricted funds as reported in the Statement of Financial Activities as follows:


Icebirg Project
Legacy – Mary Strang

Icebirg Project
Legacy – Mary Strang		 Balance at
Release
Transfer to
Balance at
01/10/23 Unused grant Unrestricted fund 30/09/24
£
£
£
£
37,445
-
-
37,445
9,018
-
-
9,018
46,463
-
-
46,463
Balance at
Income
Transfer to
Balance at
01/10/22
Unrestricted fund 30/09/23
£
£
£
£
29,111
8,334
-
37,445
9,018
-
-
9,018
38,129
8,334
-
46,463
-

19

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS

30 September 2024

17. ALLOCATION OF SUPPORT COSTS AND OVERHEADS

Total Costs of Charitable Basis of
Allocated Governance raising funds activities Apportionment
Cost type £ £ £ £
Staff costs 47,628 6,668 20,480 20,480 14:43:43%
Rent 6,500 910 2,795 2,795 14:43:43%
Postage and stationery 194 28 83 83 14:43:43%
54,322 7,606 23,358 23,358

18 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Funds
£
Fixed asset investments
1,511,725
Current assets
193,881
Current liabilities
(193,902)
Long term liabilities
(41,250)
Net assets as at 30 September 20241,470,454

Unrestricted
Funds
£
Fixed asset investments
1,433,509
Current assets
14,398
Current liabilities
(108,987)
Long term liabilities
(40,000)

Net assets as at 30 September 20231,298,920
 Restricted
Funds
£
46,463

-
-
-

46,463


Restricted
Funds
£
46,463

-
-
-
46,463
 2024
Total
£
1,558,188

193,881
(193,902)
(41,250)

1,516,917


2023
Total
£
1,479,972

14,398
(108,987)
(40,000)

1,345,383

 2023
Total
£
1,479,972
14,398
(108,987)
(40,000)

1,345,383

2022
Total
£
1,494,779
102,214
(170,978)
(10,984)

1,415,031

19. TRANSACTIONS WITH TRUSTEES OR CONNECTED PERSONS

J L Wiley, a trustee of the charity, is also a director of Wiley Accessories Limited. During the year Wiley Accessories Limited provided the charity with free use of office facilities valued at £6,500 (2023 - £6,500). The income has been recognised within donations and in expenditure within rent, in the statement of financial activities.

No emoluments or expenses were paid to trustees during the current or previous year.

The trustees of the charity have ultimate control of the charity.

20

KIDNEY RESEARCH YORKSHIRE LIMITED

NOTES TO THE ACCOUNTS 30 September 2024

20. CAPITAL COMMITMENTS

There are no outstanding capital commitments as at 30 September 2024.

21. STAFF COSTS



Wages and salaries
Social security costs
Pension costs		 2024
2023
£
£
46,588
53,773
-
65
1,040
1,239

_
47,628
55,077

___

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

The average number of employees (excluding directors) during the year was 2 (2023 – 2).

All employee time was involved in providing either support to the governance of the charity or support services to charitable activities.

22. DEFINED CONTRIBUTION PENSION PLANS

The Charity pays into personal pension plans on behalf of its employees. The pension charge represents contributions payable by the charity and amounted to £1,040 (2023 - £1,239). At the balance sheet date £197 (2023 - £242) was payable to the pension plans.

23. TAXATION

As a charity, Kidney Research Yorkshire Limited is exempt from tax on income falling due within Part 11 of the Corporation Taxes Act 2010 and on the gains falling within s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charity.

24. OTHER INFORMATION

The charity is a private company limited by guarantee and incorporated in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. Its registered office and place of business is:

St Peg’s Mill Brighouse West Yorkshire HD6 4AH

21