CHARrrY REGISTRATION NUMBER.. 1108016 Matthews Friends Charity Unaudited Financial Statements 31 March 2024
Matthews Friends Charity Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examinerfs report to the trustees 10 Statement of financial activities 11 Statement of financial position 12 Statement of cash flows 13 Notes to the financial statements 14
Matthews Friends Charity Trustees. Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrativo details Registered charity name Matthevts Friends CharÉty Charity reglstration number 1108016 Principal office @ Young Epilepsy St Piers Lane Lingfield Surrey The trustees Mrs E Williams Mrs J Fountsin Mrs V Aldridge Mr R Aldridge (Retired 31 July 2023) Independent examlner Mrs A Maguire FCA 10 Clovelly Avenue Warlingharn Surrey CR6 9HZ
Matthews Friends Charity Trustees. Annual Report (conrfnuod) Year ended 31 March 2024 Structure, governance and management Nature of the Governing Document and constitution of the charity Matthews Friends is registered as a charrty with the Charity Commission and is constrtuted under an original Declaration of Trust dated 25th October 2004 and supplemental deeds dated 24th November 2004 and 20th April 2011. The trustees approved an additional supplemental trust deed dated 31 May 2023. This deed consolidated the original and earlier supplemental deeds but also amended the objectives of the charty to refiect the wider application of the Ketogenic Diet to all people with known complex and intractable epilepsy and the specrfic neurometabolic disorder GLUT1 deficiency syndrome. As this change included an amendment to the stated objectives of the chartty, prior permission for the change was granted by the Charty Commission. The organisational strncture of the charlty and how decisions are made The board of trustees consisted of 3 individuals at 31 st March 2024. The minimum number of trustees is 3 and the maximum number of trustees is 7. Emma Williams resigned as CEO (and as a Trustee) during the course of the year, wtth Julie Fountain taking over this position. All policy decisions are made by the Board by majority vots. In addition, there are sub-committees to organise and manage various events. There are regular board meetings throughout the year to discuss charity matters, culminating in an AGM. The methods adopted for the recruitmenL appolntment, Induction and tralning of new trustses The appointment of Trustees is govemed by the Declaration of Trust dated 25th October 2004 which established the Charity ("the Trust Deed.) and subsequent supplemental deeds. Subject to the usual qualifications regarding mental capacity and the requirementthat a Trustee must act in the best interests of the Charity at all times, the Trust Deed provides that founding Trustees shall be entttled to hold office for life with all other Trustees being appointed for 4-year terms. All Trustees must be aged 18 and over and there must at all times be a minimum of 3 Trustees. Under the Trust Deed a Trustee may also be appointed or removed by resolution of the Trustees. Potential trustees make it known to the board that they are interested in becoming a trustee. or they are approached by an existing Trustee. - They are invited to attend a meeting to discuss the benefits they can bring to the charity. Existing trustees vote on whether the candidate is suitable. If the candidate is suitable. they are offered a position. The candidate then decides vthether they will acpt the position. Once aCpted, the trustee is given promotional literature about the charity and directed to the charity website for further background infomiation. New trustees are invited and encouraged to attend an introductory meeting with the management to meet the team and understand the charity structure. They are encouraged to ask questions and are given infomiation about their obligations as trustees of the charty-
Matthews Friends Charity Trustees. Annual Report (contsnu8d) Year ended 31 March 2024 Structure, governance and management (¢ondnu8d) Conflict of Intar8st Trustees are required to advise the other trustees where they have any personal interest in any activity or transaction of the charity and exdude themselves from any related discussions or voting. Risk Management The trustees have conducted a review of the major risks to which the charity is expjsed. Where appropriate. systems or procedures have been established to mttigate the risks the charity faces. Extemal risks to funding have been considered and a strategic plan which will allow for the diversification of funding and activities has been developed. Intemal control risks are minimised by the implementstion of procedures for authorisation of all transactions and projects. I procedures are periodically reviewed to ensure that they conts'nue to meet the needs of the charity. Objectlves and actlvities The objectives and main activities of the Charity are expressed in the Trust Deed and are 'the general purposes of such charitable bodies or for such other purposes as shall be exclusively charitable as the Trustees may from time to time decide". As noted the Trust Deed was amended subsequent to the year end to reflect the wider applicats'on of the ketogenic diet. The objectives and activities are now as follows: The relief of people with known complex and intractable epilepsy and the specific neurometabolic disorder GLUT1 deficiency syndrorne, by providing: Infomation and advi on the Ketogenic Diet (an altemattve treatment to medication). and support for patientslparentslcarers once on the diet, and - Any charitable means which the trustees decide including.. a) To publicise Ketogenic Dietary Therapies and make them more available to all those who should need it, be it child or adult. b) Together with our medical board. give parents and patients an informed choice about the Keiogenic Diet and to source and provide the latest information available. c) To support families and patients through their dietary therapy. d) To support professionals in their administration of dietary therapies by way of literature, ketogenic starter packs and files, educational conferences and training meetings and provide funding. where possible. e) To support Research projects into the efficacy of these dietary treatments for use in Epilepsy and other conditions. working with medical professionals to ensure our infomiation is safe, relevant and current.
Matthews Friends Charity Trustees. Annual Report {¢ontlnu8d) Year ended 31 March 2024 Objectives and activities (condnuedj Public B8n8fit that Is provided by the charity 1. To support families on medical ketogenic dietary therapies. 2. To fund professional training so that specialised doctors, dietttians and nurses can gtve patients the best care and expertise. 3. To educate and raise awareness of medical ketogenic dietary therapies to the public and medical community to increase recognition of this tr8atment. 4. To fund research where possible into new areas of disease for medical ketogenic therapies. 5. To improve delivery and management of medical ketogenic therapies. through education and development. 6. To fund hospttals where possible. to increase ketogenic sep4ices throughout the UK and Ireland. Contribution of volunte8rs The charity relies on voluntary help to host fundraising events. conferences and information days. as well as preparing and packing information and starter packs for families. Around 4 volunte8rs regularly assist the charity with these tasks (2023: 5). Strategic Report The following section for achievements. perf0rnan and financial review form the strategic report of the charty.
Matthews Friends Charity Trustees. Annual Report (contlnued) Year ended 31 March 2024 Achievements and pertomiance Each year we review and revise accordingly all our printed resources to make sure infomation is up to date. All our written resources are free to Ketogenic dietary therapy centres around the wodd and are checked and approved by our Medical Board. The animated release of our guide '1 am going on a Ketogenic Dief has been very successful, having been placed on both the Matthews Frtends Website and on our YouTube channel. We have also produced foreign language subtitled versions. We also have 14 foreign language versions of our written .1 Am Going on a Ketogenic Diet, booklet" Arabic, Croatian. Dutch, French, Georgian. Gerynan. ltslian, Lithuanian. Polish, Portuguese, Romanian and Spanish. Ukrainian. Urdu. with more planned in the future. These are all freely available to patients. farnilies and professionals who require them. Our website conts'nues to provide valuable infomiation on the Ketogenic Diet. We also have a busy Facebook page, together wtth Instagram and Twrtter, giving much needed social media support throughout the year. The virtual Zoom 'Cuppa and Chat, Monday evenings which were started during the pandemic continue and provide support to families with a friendly'virtual, place to come togetherwithin our Facebook forum. These are held weekly and we have scheduled professional guests to present on specific subjects for the families as well as cooking tutorials from keto chefs. The MattheS Friends closed forum membership continues to grow weekly amongst those with loved ones on Ketogenic Dietary Therapy or who are on one themselves. We have 500+ members who enjoy not only the mutual support given. but the Keto discussions and meal inspirations. A quarterly newsletter is produced. featuring Keto artides. recipes, news & events. The recipe section on our website continues to grow. We continue to posl new 'tried and tested, recipes, giving a comprehensive range of dtfferent recipes which can be adjusted to a patient's own prescription. Our Keto Cook also supports those families requiring specffic meals. creatlng bespoke recipes to families who are particularly struggling or who need additional help in recipe adjustments. Free starter packs and other useful Ftems are provided to UK mainland kelo families that are new to the diet. These can be requested via ketogenic dietits'ans or online via the charity website. More than 300 useful packs. that include digital scales, were sent during this period. Commencing August 2023, we introduced 6-montly meetings of the Medical Advisory Board. An opportunity for professional discussions. gaining insights and advice. working collaboratively on relevant projects and producing Ketogenic Diet materials for families and health professionals. Consolidating an effective team approach for the running of the charity. During this period the Trustees resolved to provide funding for a new paediatric ketogenic service at Chelsea & Westminster NHS Trust, London in support of a Ketogenic Dietitian position. A commitment that had previously been made prior to the Covid pandemic and postponed on request of the Trust. We fund a multi-platform mobile version of EKM. Electronic Ketogenic Manager. which is extremely beneficial to Ketogenic patients. The EKM is reviewed regularly, and updates are carried out where funds permit. A user guide has been written and printed for families which is reviewed annually, and we have also produced and filmed 'easy to use, tutorials for the EKM platforni. This is updated regularly across the platfonms and proves to be an exlremely useful tool for those on a ketogenic diet. Taking the meal planner idea a step further and trying to make meal planning and preparation for the diet as easy as possible not only for the patients, but also families and other allied health professionals, we worked alongside the Ketogenic Dietitians Research NetrOrk (KDRN) and fvnded the 'Build a Ketogenic Meal, project. This is a highly practs'cal and visual meal plann8r which is freely available on the website. Using photographs of portion sizes and allowing families to 'build a meal. without having to use numbers or figures. This project is aimed at those who maybe not as
Matthews Friends Charity Trustees. Annual Report {OnuSdj Year ended 31 March 2024 eXperiend using computer programmes and those where numbers and calculations can be confusing. Matthew's Friends have always tried to reach as many families as possible in whatever way that works, and we were delighted to be able to partner Wbth the KDRN in bringing this project to fruition. Matthew's Friends had stands l attended at Nutricia's Keto Conference and the Ketogenic Dietitians Research Network KDRN meeting both held in Newcastle in June 2023, the GLUT1 European Conference in Gemiany in June 2023. IEC Dublin in September 2023. The Global Symposium in San Diego in September 2023, ILAE Gateshead in October 2023, Nutricia's Managing Complex Epilepsy study day in Sheffield, The Freya Foundation held at Chessington World of Adventure and Dravet UK London all during November 2023. Going into 2024. MF had stands l attended the Young Epilepsy retreat in Gatwick and BPNA in Bristol both held during in January 2024 . MF Trustee, Val Aldridge, attended a Vitaflo workshop in Manchester, she also attended Nutricia's Complex Epilepsy Expert Day held in the Nelherfands. We were invited to take part in Young Epilepsy's Webinar titled Ketogenic Dietary Therapies in Infants. MF'S CEO. Julie Fountain presented via video link at Italy's First National Symposium on Ketogenic Diets. Matthew's Friends are members of (Rare Epilepsies Together) group and the Neurological Alliance. Matthews Friends provide a 'Keto Starf award programme. This allows anyone who has gone above and beyond the norm to be nominated. We have sent out an assortment of certifjcates. kgto hero t shirts. flowers and other'prizes, to surprise those nominated. this has proven to be particularty beneficial to the younger patients who may require a littie boost to show that they are doing well. but can also be sent to school staff. hospitals, parents. in fact anyone that is felt to be deserving by going that extra mile. Matthew's Friends are proud to be founding patrons of the Intemational Neurological Ketogenic Society {INKS) and we currentty provide a Treasurer and Secretariat for the group. Three of our Trustees are heavily involved in this group. providing input to the committees within this organisation. Tralnlng Our Ketocollege online tutorials for medical professionals continue to be available and are proving especially beneficial for those professionals in resour limited areas of the world as well as community professionals here in the UK. We supported the annual Ketocollege programme during May 2023. This was the first face2fa meeting since the pandemic and the 1 st Ketocollege ADVANCE meeting for existing Keto teams. The event was well attended by over 100 delegates from 17 countries. The meeting also featured a Keto Education Day for families and support workers. vthich was also recorded as a future resource for the charity website. Research We continue to plan with and support initiattves from the Ketogenic Dietitians Research Network (KDRN), as well as facilitating research through our supporl of the Intemational Neurological Ketogenic Society (INKS) and the provision of research neiworking through our work in hosting and supporting the bi-annual series of Global Symposium conferences. MF are supporting ketogenic diet related research studies in a PPI 'Patient and public involvemenf capacity. namely CORE-KDT and Ketostart. both are ongoing.
Matthews Friends Charity Trustees. Annual Report (continued) Year ended 31 March 2024 Financial review The financial statements are set out on pages 11 to 22. The financial statements have been prepared implementing the Statement of recommended Practi for Accounting and Reporting by Charities (FRS 102) issued by the Charities Commission for England and Wales. As ststed in the introduction to this report, the trustees consider the financial perfomiance by the tharity during the year to have been satisfactory. The principal sources of funding are through voluntsry donations and this income stream continues to grow as the charity becomes more well known. In addition. income continues to be generated through organised fundraising events which ensures we have sufficient resources to meet our charitable objectives. Forthe yearended 31st March 2024. the charivs accounts showed net outgoing resources of £116.863 (2023: outgoing resources £35,978) and charity reserves of £397,623 (2023.. £514,486). Policies on Reserves In accordance with Ch8rity Commission guidance. the Trustees regulaty monitor and annually review the adequacy of the charity's reserves and the reserves policy. The trustees have forecast th818V81 of income for 2024125 at £150.000 gross and £110.000 net before expenditure on charitable activities. This takes into account the positive impact on being able to once again hold organised events whilst being mindful of the risk of reduced voluntsry donations.. The charity's reserves policy is to hold back sufficient funds to cover committed grants. the fixed charity running costs, salarylfreelance costs for 12 months and any essential variable costs necessary for healthy grovrth of the charity. which equates to £40,000 (2023: £40.000). All reserves over and above this retained amount are designated to charitsble activities on an annual basis. The trustees do not consider a reserve fund is necessary to cover the cost of event organisation as historically charity ru n events have covered such costs and resulted in profft. Such events would not take place if a loss was anticipated. Grant Maklng Pollcy Once a year at the AGM, trustees decide the main focus of the charities grant making activities for the coming year, in line with the main charity aims and objectives. The CEO and relevant staff then engage directly with organisations that may be able to fulfil those objectives and once satisfied, contracts are dr2wn up 2nd 2wardg are made. Requests forfunding 9re 2120 r@c@ivÈd from third p2rti@s 2nd th@se 2r8 considered on a case by case basis and approved subject to fulfilling charitable objectives and available resources. Matthew's Friends Clinics Ltd is an independent limf(ed company and owned jointly by the directors Emma Williams and Julie Fountain. therefore any requests for grant funding from Matthew's Friends Clinics Ltd are considered solely by the independent trustees. Matthews Friends Clinics closed its clinical operation and now concentrates on the expansion of its educational programmes. Emma Williams resigned as Director 31st July 2023.
Matthews Friends Charity Trustees. Annual Report (continued) Year ended 31 March 2024 Flnancial review (wrtlnued) Incomlng Resources Fundraising is still proving challenging, especially during a cost-of-living crisis. We are always extremely grateful to all those that donated during this time through Fabook and those who managed to fundraise by way of marathons and other activities. We are also grateful to have reiVed generous grants from our long-temi supporters.. The Sydney and Phyllis Goldburg Trust and The Ellerdale Trust. During 2023 Shenise Parker from Footprint did a paragliding challenge over the south coast. We also had runners in the Southampton Marathon, London Marathon and Royal Parks. Our designer Andy from Aceym Design took on the National 3 Peaks Challenge. The Oxted Pram Ra also supported us with a share of money raised from their annual event. as well as continued support from the Oxted Charity Dart League. We continue to raise funds through approprbate website sponsorship. through the sale of advertisements in our newsletters and by the sale of merchandisa via our Matthevls Friends online shop. We hope to continue fundraising next year via a number of fundraising and sponsorship activates 8llowing us to support families in need, enabling us to achieve our own charitsble objecttves. Outgoing Resources Costs have been incurred in order to fundraise as well as through provision of confarences and meetings to facilitate education and training in the Ketogenic Diet. Expenditure has been incurred through funding of Ketocollege educational activrties at Matthews Friends Clinics Ltd. Plans for future perlods We plan to continue fvndrdising next year through a number of fundraising and sponsorship activities. We will use funds raised to enable us to achieve our own charitable objectives. We plan to continue attending and speaking at conferences in the UK and beyond for medical professionals, dietitians, patients and specia5 intsrest groups raising awareness of Ketogenic Therapies. We intend to continue to support KateniC Diet centres around the UK to allow them to support mor8 patients on the Ketogenic Diet and by provision of our free resources, infonnatÉonal brochures, stsrter packs and reciDes. We plan to continue working with NHS centres to increase their Serrfls by way of education, training and supporting their business plan applications to Clinical Commissioning Group's and consider funding new ketogenic centres for adults and children where appropriate. Matthew's Friends intend to conb'nue support of the Global Symposium series of meetings with the 9th to be held in Paris in September 2025. We continue to be the only UK charity 100 % dedicated to medical Ketogenic Dietsry Therapies and the support of families and health care professionals who are working with or using this treatment.
Matthews Friends Charity Trustees. Annual Report (contlnuedj Year ended 31 March 2024 The trustees, annual report was approved on 23 January 2025 and signed on behalf of the board of trustees by". Mrs J Fountsin Trustee Mr R Aldrtdge Trustee
Matthews Friends Charity Independent Examinerfs Report to the Trustees of Matthews Friends Charity Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Matthews Friends Charity ('the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charty you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the chariVs financial statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records" or the financial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and R8POrts) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. 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 ba reached. Mrs A Maguire FCA Independent Examiner 10 Clovelly Avenue Warlingham Surrey CR6 9HZ 10
Matthews Friends Charity Statement of Financial Activities Year ended 31 March 2024 2024 Unrestricted funds Totsl funds Total funds 2023 Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 63.582 26.591 665 6.547 63,582 26,591 665 6.547 131,690 607 1,625 Total income 97.385 97,385 133,922 Expenditure Expenditure on raising funds: Costs of raising donations and legacies Costs of other trading activities Investment management costs Expenditure on charitable activities Total expendFture (10,871) (10.871) {9.090) (29,824) (29,824) (26,692) (324) {324) (213) {173,229) (173.229) (133.905) (214.248) (214,248) (169,900) 10 11.12 Net expenditure and net movement in funds (116,863) {116,863) (35.978) Reconciliatlon of funds Total funds brought forward Total funds Carrled fOard 514.486 514,486 397,623 550,464 397,623 514,486 The statement of financial activf(ies indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 14 to 22 form part of these financial statements. 11
Matthews Friends Charity ststement of Financial Position 31 March 2024 2024 2023 Fixed assets Tangible fixed assets 17 44 Current assets Debtors Cash at bank and in hand 18 60.192 356,115 416,307 28,531 494,227 522,758 Creditors: amounts falling due within one year Net current assets 19 18.684 8,316 397,623 397.623 514,442 Total assets less current liabilitles 514,486 514,486 Net assets 397,623 Funds of the charity Unrestricted funds 397,623 514,486 514,486 Total charity funds 397,623 These financial statements were approved by the board of trustees and authorised for issue on 23 January 2025, and are signed on behalf of the board by.. Mrs J Fountsin Trustee Mr R Aldridge Trustee The notss on pages 14 to 22 forni part of these financial statements. 12
Matthews Friends Charity Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net expenditure (116,863) (35,978) Adjustments for Depreciation of tangible fixed assets Other interest receivable and similar income Accrued income 45 (1 ,625) (8,479) (6,547) Changes in.. Trade and other debtors Trade and other creditors (31.661) 10,368 5,905 6.550 Cash genarated from operations (144,659) (33,582) Interest received Net cash used in operating activiti8S 6.547 1.625 (138,112) (31,957) Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at ond of year (138,112) 494,227 356.115 (31.957) 526,184 494.227 The notes on pages 14 to 22 fomi part of these financial statements. 13
Matthews Friends Charity Notes to the Financial Statements Year ended 31 March 2024 Géneral inforniation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is St Piers Lane, Lingfield. Surrey, RH7 6PW. Statemenl 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 1021) and the Charities Act 2011. Accountlng policies Basls of preparation The unaudited financial statements have be8n prepar8d on the historical cost basis, as modified by the revaluation of certain financial assets and liabilitl8s and investment properties measured at fair value through income or expenditure. The unaudited financial statements are prepared in sterling, which is the functional currency of the entity. Matthews Friends meets the definition of a public benefft entity under FRS 102. Golng concern There are no material UnrtaIntieS about the charity's abilty to continue. D8btors other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short tem highly liquid investments with a short maturity of three months or less from the dats of acquisition or opening of the deposit or similar account. Creditors and provisions 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 afler allowing for any trade discounts due. 14
Matthews Friends Charity Notes to the Financial Statements (continued) Year ended 31 March 2024 Judgements and key sources of èstimation 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 experien and other factors. induding expectations of future events that are believed to be reasonable under the circumstanS. There are no significant areas requiring material judgements. estimates or assumptions. Taxation Th8 charity is 8xempt from tax on income and gains to the extent that these are applied to its charitable objectives. Pension costs Contributions to defined contribution plans are recognised as an expense in the period in which the related servic8 is provided. Differences between contributions payable in the year and the contribub'ons actually paid ar8 shown as either accruals or prepayments on the balan sheet. Fund accountlng Unrestricted funds ar9 available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamarked by the trustees for particular futur8 project or commitment. Restricted funds are subjected to restrictions on their expenditure dedared by the donor or through the terms of an appeal. and fall into one of iwo sub-classes: restricted income funds or endowment funds. 15
Matthews Friends Charity Notes to the Financial Statements {ntInued) Year ended 31 March 2024 Accountlng policiès (¢ondnuad) Incoming resourcés Income is accounted for when the charity has entitlement to the funds. receipt is probable, and the amount is measurable. Where income is received in advance of an event it is deferred until the charity, is entitled to the income. Income from donations and grants is included in income when these are receivable. When donors impose conditions. which have to be fulfilled before the charity becomes entttled to use such income, the income is defaed and not included in income until the pre-conditions for use have b88n met. Interest is included when receivable by the charity. Resources expended Expendtture is recognised on an accruals basis as a liability is incued. Expenditure includes 8ny VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates.. Costs of raising funds cornprise the costs associated wth attracting donations, grants and legacies and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between the expendtture categories of the SOFA on a basis designed to reflect the use of the resour. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. as set out in the notes to the accounts. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic lffe of thal asbel as follows: Fixtures & Fittings Equipment 20 % straight line 50 % straight line Impairment of fixed assets A review for indicators of impairynent is carried out at each reporting date. wtth the recoverable amount being estimated where such indicators exist. Ilvhere the carying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 16
Matthews Friends Charity Notes to the Financial Statements (¢ontlnued) Year ended 31 March 2024 Accounting policies (CLtInU8dj Impairment of fixed assets (contlnued) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash4Jenerating unit is the smallest identtfiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabiltties of the charity are assigned to those units. Financial instruments A financial asset or a financral liability is recognised only when the charity 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. Current assets and current liabilities are subsequently measur8d at the cash or other consideration expected to be paid or reiVed and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or Iheir fair value can otherwise be measured reliably, the investment is subsequent]y measured at fair value with changes in fair value recognised in income and expenditure. All other such investrnents are subsequently measured at cost less impaiment. Other financial instruments, induding derivatives. are initially recognised at fair value. unless payment for an asset is defeed beyond nornal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the prasent value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequentEy measured at fairvalue, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. FinanGiaS assets that are measured at cost or amortised cost are reviewed for objective evidence of impainnent at the end of each reporting date. If there is objective eviden of impairment. an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments regardless of significance. and other financial assets that are individually significant. these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characterisb'cs. Any reversals of impaimient are recognised imtnediately. to the extent that the reversal does not result in a carying amount of the financial asset that eXedS what the carrying amount would have been had the impaimient not previously been recognised. 17
Matthews Friends Charity Notes to the Financial Statements {conthJued) Year ended 31 March 2024 Donations and legacias Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations. Just Giving & Private Fundraisers 63.582 63.582 131.690 131,690 Charitable actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 conferen Sponsorship & Delegate Incom8 26.591 26,591 Other trading activlties Unrestrict8d Total Funds Unr8Stricted Total Funds Funds 2024 Funds 2023 Merchandise Income Buy At & Easy fundraising 665 665 231 376 231 376 665 607 607 Investment income Unrestricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receNable 6.547 6.547 1,625 1.625 Costs of ralslng donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Advertising & Promotion Print, Postage & Stationary Computer & Phone 6.565 1,189 3.117 6.565 1.189 3.117 5,193 640 3,257 5,193 640 3.257 10,871 10,871 9,090 9,090 18
Matthews Friends Charity Notes to the Financial Statements (¢ontlnu8d) Year ended 31 March 2024 Costs of other trading activities Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Organised Events Costs Merchandise Costs Administration Costs 4,942 953 23,929 4,942 953 23,929 3,999 2,794 19.899 3,999 2,794 19,899 29,824 29,824 26.692 26,692 10. Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank Charges 324 324 213 213 11. Expenditure on charitable activitios by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Webswte & Helpline Phone Travel Costs Administration Costs Conferences & Education Chef & Recipe Funding other Grants Made (See note 13) Keto Starter Packs Support costs 12,466 7,008 25,713 36.133 12.466 7,008 25,713 36,133 13,086 6.368 14.368 17,239 1,584 72,042 6.762 2,456 13.086 6,368 14.368 17,239 1,584 72.042 6,762 2.456 80.938 8,472 2,499 80,938 8,472 2,499 173,229 173.229 133,905 133,905 12. Expenditure on charltable activitles by actlvlty type Activities undertakèn direcdy Support Total funds costs 2024 Total fund 2023 Website & Helpline Phone Travel Costs Administration Costs Conferences & Education Chef & Recipe Funding Other Grants Made (See note 13) Keto Starter Packs Support costs 12.466 7.008 25.713 36,133 12,466 7,008 25,713 36,133 13,086 6.368 14,368 17,239 1,584 72,042 6.762 2.456 80,938 8.472 80,938 8,472 2.499 2,499 170.730 2.499 173.229 133,905 19
Matthews Friends Charity Notes to the Flnancial Statements (contlnued) Year ended 31 March 2024 13. Analysis of grants 2024 2023 Grants to Institutions MF Clinics Patient Treatment Sheffield Teaching Hospital - Dietician MF South Africa Ketocollege UK Symposium - Matthews Frkends Clinics KDRN - Ketogenic Diet Research Network INKS - International Neurological Ketogenic Society Global Symposium on Ketogenic Therapies 5,155 17.791 1.000 19,500 13,984 14,612 5,889 42,043 1,697 10,388 20,921 80,938 80.938 72,042 Total grants 72,042 14. Net expenditure Net 8xpenditure is stated after chargingl{crediting): 2024 2023 Depreciation of tangible fixed assets 45 15. Staff costs The total staff costs and employee baneffts for the reporting period are analysed as follows: The average head count of employees during the year was 2 (2023". 2). The average number of full-time equivalent employees during the year is analysed as follows: 2024 2023 No. No. Number of staff No employee received employee benefits of more than £60,000 during the year (2023: Nil). 16. Trustee remuneration and expenses The trustees received no remuneration during the current or prior year. During the year, the trustees reiVed the following re-imbursements of out-of-pocket expenses in relation to travel. accommodation and telephonelintemet. Mrs Julie Fountain £55 (2023: £50) Mrs Emma Williams £279 (2023: £1.074) 20
Matthews Friends Charity Notes to the Financial Statements (conllnu8d) Year ended 31 March 2024 17. Tanglble fixed assets Fixtures and frttings Equipment Total Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 Charga for the year At 31 March 2024 1,028 4,745 5,773 4.745 5,729 1,028 4.745 5.773 Carrying amount At 31 March 2024 At 31 March 2023 44 18. Debtors 2024 2023 Prepayments and accrued income other debtors 5,070 55,122 28,531 60,192 28,531 19. Creditors: amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Other creditors 11,756 1,646 5.282 6,670 1,646 18,684 8,316 20. Analysls of charitsble funds Unrestricted funds At 31 March 20 24 At 1 April 2023 Income Expenditure General fvnds 514.486 97.385 (214.248) 397,623 At 31 March 20 23 At 1 April 2022 Income Expendtture General funds 550.464 133.922 (169,900) 514,486 21
Matthews Friends Charity Notes to the Financial Statements (continued) Year ended 31 March 2024 21. Analysls of net assats between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 416,307 (18,684) 397,623 416,307 (18,684) 397,623 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less th8n 1 year 44 522,758 (8,316) 514.486 522.758 (8,316) 514,486 Net assets 22. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 494,227 (138.112) 356,115 23. Related partles During the year, Matthews Friends Charity made educational grants lotalling £42.043 to Matthews Friends Clinics (2023: £19.500). mattheY Friends clinics is owned and controlled by Mrs Julie Fountain who is also a charity trustee. During the year Matthews Friends charty provided support seniices and premises hire to Matthews Friends Clinics of £42,998 {2023: £31,646). The total amount owed to Matthews Friends Charity at the year end was £55,121 (2023: £31.646). During the prior year. Matthews Friends Charity Sponsored a number of patient¥ to commence Ketogenic Diet Therapy through Matthews Friends Clinics Ltd. however this charitable expenditure has now ceased (2023: £5,155). During the year Matthews Friends Charity received Ketogenic Cookery Services and used the facilities of Maureen Benn and Benn Bros who are related to the trustee Mrs Julie Fountain. The total invoiced for these services during the year was £1,815 (2023: £1,464). No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. 24. Independent examination fees The Independent examination was undertaken pro bono at no cost to the charrty (2023: £nil). 22