Charity registration number: 1113421
The Anya Sturdy Charitable Trust for Medical Research
Annual Report and Financial Statements for the Year Ended 5 April 2025
The Anya Sturdy Charitable Trust for Medical Research
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustces' Report | 2to4 |
| Statement ofTrustees’ Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement ofFinancial Activities | 7 |
| Balance Sheet | 8 |
| NotestotheFinancialStatements | Sto15 |
; Trustees' Report
The Anya Sturdy Charitable Trust for Medical Research
The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2025.
Objectives and activities Objects and aims
The objectives of the Charity are to:
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promote medical research and provide or facilitate the provision of equipment and care for the relief of sickness or disabling diseases and conditions for the benefit of the public: and
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make donations towards or to otherwise promote or assist such charitable purposes as the trustees may see fit.
This is performed through the awarding of grants, in accordance with the terms of the governing document. The trustees consider grant making an effective method of delivering these objectives. Grants are awarded at the discretion of the trustees.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have duc regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance During the year the Charity made donations to the following organisations totalling £94,231.
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||||||||
|---|---|---|---|---|---|---|
|£|
|Barts|Health|NHS|Trust|14,716|
|WIMM|17,375|
|The|Christina|Swain|Trauma|Elective|Fellowship|1,750|
|Fulham|Boys|School|390|
|The|University|of Manchester|60,000|
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The charity believes that the support it has given has assisted the bodies supported and they in turn have been able to improve the circumstance of the beneficiaries of their work.
Applications can be submitted to the Trustees by charitable institutions and these applications are considered at the Trustees meetings. Applications should be in writing and incorporate full details of the charity for which funding is requested. Acknowledgements are not generally sent out to unsuccessful applicants.
Plans for future periods
Aims and key objectivesforfuture periods
The trustees intend to continue providing grants to meet the objectives of the charity but retaining flexibility as to the timing and scale of grant making.
Financial Review
The Trust's income from its investments was £70,172 (2024: £56,707). Other income from disposal of investments was £106,190 (2024: £75,454) and the movement in the value of investments was (£227,220) (2024: £460,065). The investment income facilitated charitable expenditure which included grants awarded of £94,231 (2024: £151,340).
Page 2
The Anya Sturdy Charitable Trust for Medical Research
Reference and Administrative Details
Trustees
Mr Adam Sturdy Mr Roger Sturdy Mr Casper Woods Mrs Joanna Woods
Principal Office
The Foundry 77 Fulham Palace Road London W6 8AF
Charity Registration Number
1113421
Independent Examiner
Paul Michaelides Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL
Page 1
The Anya Sturdy Charitable Trust for Medical Research
Trustees' Report
The Trust’s investments are managed by the investment managers in consultation with the Trustees, ‘The Trustees follow conservative investment policy with a view to maintaining the capital of the charity in a mixture of equity and bonds whilst maintaining sufficient liquidity for the Trust’s foreseeable needs.
Reserves policy
All of the charity’s funds held at 5 April 2025 amounting to £2,985,278 (2024: £3,172,226) are general unrestricted funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.
As the charity does not currently seek funding but uses its resources to provide funding for the furtherance of its objectives, it is the Trustee’s policy to maintain the charity’s reserves at a sufficient level to enable it to continue to provide such funding in future years. This is monitored on a regular basis by the Trustees, who review the level of reserves in the light of future funding requirements.
Structure, governance and management
The Anya Sturdy Charitable Trust for Medical Research is an unincorporated Trust and was registered as a charity on 24 March 2006. The Trust is registered charity no. 1113421. The Trust also operated under the name Anya’s Charity.
The Trustees who have serves during the year and since the year are set out on Page |. The power to appoint additional trustees is vested in the current trustees and is exercisable in writing. Should new trustees be appointed, the existing trustees would take responsibility for their induction.
The Trustees meet at least once a year to agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance.
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable continuous monitoring of such risks so that appropriate steps can be taken to manage these risks.
Fundraising statement
The charity does not currently engage in any active fundraising and as such has received no complaints in relation to any fundraising activities over the course of the 2024/25 year.
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use offinancial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Page 3
The Anya Sturdy Charitable Trust for Medical Research
Trustees' Report
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterpartics and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Nfizjzs The Wl report was approved by the trustees of the charity on .................... and signed on its behalfby: Mf Adam Sturdy~
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Mrs Joanna Vivien Woods
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Trustee
Page 4
The Anya Sturdy Charitable Trust for Medical Research
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 of the incoming resources and application of resources of the charity for that period. In preparing these 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 estimates that are reasonable and prudent;
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state whether applicable accounting standards 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 business.
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, the applicable Charities (Accounts and Reports) Regulations, 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.
Appf>ved by the trustees of the charity on fe/zs.................... and signed on its behalf by:
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r Adam Sturdy
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Mrs Joanna Vivien Woods Trustee
Page 5
The Anya Sturdy Charitable Trust for Medical Research
Independent Examiner's Report to the trustees of The Anya Sturdy Charitable Trust for Medical Research
] report to the Charity Trustees on the accounts of the charity for the year ended 5 April 2025 which are set out on pages7 to 15.
Respective responsibilities of trustees and examiner
As the charity’s trustees, are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
[have completed the examination. | confirm that no material matters have come to our attention connection with my examination, which gives us causc to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with he accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and contents sct out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ 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.
Paul Michaelides
Michaclides Warner & Co 102 Fulham Palace Road London W6 9PL
Date... eeeeeceeeeetseeeeeeee
Page 6
The Anya Sturdy Charitable Trust for Medical Research
Statement of Financial Activities for the Year Ended 5 April 2025
| Notes | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| Income from: | |||
| Donations and legacies | - | - | |
| Investments | 2 | 70,172 | $6,707 |
| Total income | 70,172 | 56,707 | |
| Expenditure on: | |||
| Charitable activities | 3 | 94,231 | 151,340 |
| Supportandgovernance | 4 | 37,132 | 36,372 |
| Total expenditure | 131,363 | 187,712 | |
| Net(expenditure) /income before investment gainsand losses | (61,191) | (131,005) | |
| Net (losses)/gainson investments | 5 | (125,757) | 343,282 |
| Net (expenditure) /incomeand net movement in funds | (186,948) | 212,277 | |
| Reconciliation offunds | |||
| Total funds brought forward | 3,172,226 | 2,959,949 | |
| Totalfundscarriedforward | 2,985,278 | 3,172,226 |
All amounts above are derived from continuing operations and the charity has no recognises gains or losses other than those passing through the Statement of Financial Activities.
All income and expenditure in both years is unrestricted in nature.
The notes on pages 9 to 15 form an integral part of these financial statements. Page 7
The Anya Sturdy Charitable Trust for Medical Research
(Registration number: 1113421) Balance Sheet as at 5 April 2025
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Notes 2025 2024
£ £
Fixed assets
Investments 5 2,857,592 3,084,812
2,857,592 3,084,812
Current assets
Debtors 6 : -
Cash at bank and in hand 130,990 90,435
130,990 90,435
Creditors: amounts falling due within one year 7 3,304 3,021
Net current assets 127,686 87,414
Net assets 2,985,278 3,172,226
Unrestricted funds 2,985,278 3,172,226
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The financial statements on pages 7 to 15 were approved by the trustees and authorisedameiccee,for issue on ......0....f.0%WHielzs and signed on their behalf by:
Mr Adam Sturdy Mrs Joanna Vivien Woods Trustee
The notes on pages 9 to 15 form an integral part of these financial statements. Page 8
The Anya Sturdy Charitable Trust for Medical Research Notes to the Financial Statements for the Year Ended 5 April 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Anya Sturdy Charitable Trust for Medical Research 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.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The Trust has a significant level of reserves and the ability to reduce distributions as appropriate pending the resumption of normal activities.
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment markets.
The Trustees, having reviewed current performance and forecasts, and the factors listed above, have a reasonable expectation that the Trust has adequate resources to continue its operations for the foreseeable future. For this reason, they have continued to adopt the going concern basis in preparing the financial statements.
Incoming resources
All incoming resources are recognised once the charity has entitlement to the income, it is probable that the income will be received, and the monetary value of income received can be measured reliably.
Investment income
Investment income is accounted for in the year in which the charity is entitled to receipt. Income is the gross value ofdividends and interest received afier reclaiming any tax credits that are available.
The notes on pages 9 to 15 form an integral part of these financial statements. Page 9
The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
Donated services and facilities
These are recognised as income when the charity has control over the item, any conditions associates with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), any general voluntcer time is not recognised.
On receipt, the donated professional services and donated 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 thesc services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading as and when it was incurred.
Costs of generating funds
Costs of generating funds comprise those costs directly attributable to managing the investment portfolio and raising investment income.
Charitable activity
Costs of charitable activities include grants made and an apportionment of overhead and support costs, including governance costs, where applicable.
Grants payable are payments made to thirst parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
Fixed asset investments
Investments are stated at closing mid-market value at the balance sheet date. Any gains or losses on revaluation and disposal are shown in the Statement of Financial Activities.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sale proceeds and average unit purchase cost. Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).
Debtors
Other debtors are recognised at the settlement amount.
The notes on pages 9 to 15 form an integral part of these financial statements. Page 10
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The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
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.
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 after allowing for any trade discounts due.
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 measured at their settlement value.
2 Investment income
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Interest and dividends
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2025 2024
£ £
70,172 56,707
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The notes on pages 9 to 15 form an integral part of these financial statements. Page 11
The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
3 Charitable expenditure
| Analysisofexpenditure on charitable activities | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Grantsawarded to institutions | 94,231 | 151,340 |
| 94,231 | 151,340 | |
| Grants by type ofcharity | 2025 | 2024 |
| £ | £ | |
| Medical research grants | 94,231 | 141,340 |
| Other grants | - | 10,000 |
| 94,231 | 151,340 | |
| 4 Support and governance costs |
||
| 2025 | 2024 | |
| £ | £ | |
| Independent examiner's fees (includingVAT) | 2,070 | 2,070 |
| Investment management fees | 29,842 | 27,083 |
| Foreign exchange (gains) and losses | 920 | 7,099 |
| Other costs | 60 | 120 |
| Legal expenses | 4,240 | : |
| 37,132 | 36,372 |
This page does not form part of the statutory financial statements. Page 12
The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
5 Investments
| 2025 | 2025 | 2024 | 2024 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Market value at beginning oftheyear | 3,084,812 | 2,624,747 | ||
| Cash invested | - | 69,925 | ||
| Additions in the year | 1,452,152 | 1,341,867 | ||
| Disposals in the year | (1,553,615) | (1,328,079) | ||
| Net cash (withdrawn) / invested in year | (101,463) | $3,713 | ||
| 2,983,349 | 2,708,460 | |||
| Net (losses) /gains in theyear | (125,757) | 343,282 | ||
| Market value atend ofyear | 2,857,592 | 3,084,812 | ||
| 2025 | 2024 | |||
| £ | £ | |||
| Investments at market value comprised: | ||||
| Global | 1,064,782 | 703,111 | ||
| Otheremerging | 159,232 | 152,138 | ||
| North America | 1,173,199 | 1,602,813 | ||
| Europe | 298,259 | 343,699 | ||
| Asia | 162,120 | 283,051 | ||
| 2,857,592 | 3,084,812 | |||
| Historicalcostat5April | 2,492,063 | 2,486,046 |
There were 7 (2024: 6) investments held at 5 April 2025 which amount to more than 5% of the portfolio.
Funds include a surplus on revaluation above historical cost of £365,529 (2024: £598,766 surplus).
This page does not form part of the statutory financial statements. Page 13
The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
6 Debtors
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Other debtors | - | - |
| 7 Creditors: amount falling duewithin oneyear |
||
| 2025 | 2024 | |
| £ | £ | |
| Trade creditors | 1,804 | 1,521 |
| Accruals | 1,500 | 1,500 |
| 3,304 | 3,021 | |
| 8 Financial instruments |
||
| The charities financial instruments may be analysed as follows: | ||
| 2025 | 2024 | |
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through the Statement of Financial | 2,984,313 | 3,162,024 |
| Activity | ||
| Financial assetsmeasured atamortised cost | 4,269 | ___13,223 |
| Financial liabilities | ||
| Financialliabiliticsmeasuredatamortisedcost | 3,304 | 3,021 |
This page does not form part of the statutory financial statements. Page 14
The Anya Sturdy Charitable Trust for Medical Research
Notes to the Financial Statements for the Year Ended 5 April 2025
9 Related party transactions
No Trustee received any remuneration or reimbursed expenses during the year.
This page does not form part of the statutory financial statements. Page 15