ALZHEIMER'S BRAIN BANK UK
Company No: 05762960 Charity No: 1114578
ANNUAL REPORT and FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2021
ALZHEIMER'S BRAIN BANK UK
Contents
For the year ended 31 March 2021
| Page | |
|---|---|
| Reference and Administration Details | 3 |
| Trustees Report | 4 - 7 |
| Independent Auditors' Report | 8 - 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 - 19 |
2
ALZHEIMER'S BRAIN BANK UK
Reference and Administration Details
For the year ended 31 March 2021
Address and Registered Office: 43-44 Crutched Friars London EC3N 2AE
Trustees and Directors: Mr Alastair Balls Dr Tharani Chessell Dr Rupert Evenett Dr Simon Ridley Prof Gordon Wilcock
Secretary: Mr Paul Bell Principal Bankers: HSBC Bank plc 593-599 Fulham Road Fulham London SW6 5UA
Solicitors: Cripps LLP Number 22, Mount Ephraim Tunbridge Wells Kent TN4 8AS
Independent Auditors: Crowe U.K. LLP Chartered Accountants and Registered Auditors 55 Ludgate Hill London EC4M 7JW
3
ALZHEIMER'S BRAIN BANK UK
Trustees Report
For the year ended 31 March 2021
The Trustees present their annual report and financial statements for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (effective 1 January 2015).
The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 referring to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. All members of the Board of Trustees give their time voluntarily and receive no benefits from the Charity. Any expenses reclaimed from the Charity are set out in note 9 to the accounts.
Aims and Objectives of the Charity
The principal activity of the charity is to continue to protect and promote the health of the public, in particular by establishing, promoting and maintaining brain banks of brain cell tissue for research into the causes, prevention, treatment and cure of Alzheimer's disease and associated neuro-degenerative diseases and disorders, including the facilitation, development and dissemination of research into practical applications for the prevention or treatment of Alzheimer's disease and associated neurodegenerative diseases and disorders; to advance public education (including scientific education) and awareness in matters relating to Alzheimer's disease and associated neuro-degenerative diseases and disorders.
The charity meets its aims and objectives by providing grants to organisations that facilitate or undertake research.
The Sponsoring Charities of the Alzheimer's Brain Bank UK (ABBUK) are Alzheimer's Society (Charity No. 296645) and the Alzheimer's Research UK (Charity No. 1077089).
Fundraising
ABBUK is fully aware of the requirements of the current Fundraising Regulations and confirm that there has been no fundraising function in the year and that no requests for donations are made either directly or through 3rd party fund raising agents or organisations.
Achievements of 2020/21 and Financial Review
The charity's results for the year show a surplus £23,458 (restated 2020: deficit £21,947). Phase three of the Dementia Research (BDR3) grant contracts was approved in 2017/18. Phase four of the Dementia Research (BDR4) grants have been approved in the year to 31 March 2021. Future funding has been agreed by the sponsoring charities up to an agreed level.
4
ALZHEIMER'S BRAIN BANK UK
Trustees Report (continued)
For the year ended 31 March 2021
Future Developments
During 2020/21 and beyond, the trustees wish to continue to protect and promote the health of the public in line with the charity's aims and objectives through monitoring the activities of the institutions awarded grants to carry out specific research activities.
Structure, Governance and Management
Alzheimer's Brain Bank UK (ABBUK) was incorporated on 30 March 2006 as a company limited by guarantee, registration No. 05762960 and registered as a charity on 6 June 2006, registration No. 1114578. ABBUK commenced its activities in April 2007 and is governed by the Memorandum and Articles of Association. The charity is a joint venture between the Alzheimer's Society and Alzheimer's Research UK.
The Board of Trustees has the responsibility for the governance and strategic direction of the charity, ensuring that it delivers its key objectives. The operational processes which mainly cover the disbursement of the approved grants are managed by a grants operations officer.
Board of Trustees
The company's Articles of Association provide for Trustees, who are also directors for the purposes of the Companies Act 2006, to be appointed by the members of the company on recommendation of the existing trustees, who are able to appoint new trustees to fill a casual vacancy up to the next general meeting.
The Board meets twice a year, to review strategic options and other matters relating the grant making activities of the charity.
Key Management
The charity has one employee who is not considered to be key management personnel.
The present trustees are listed on page 3. The trustees of the charity during the year were as follows:-
Mr Alastair Balls Dr Tharani Chessell Dr Rupert Evenett Dr Simon Ridley Prof Gordon Wilcock
The new trustees do not get any formal induction training on appointment. However, each receive an induction pack with information about Alzheimer's Brain Bank UK activities that is compiled by an administrative officer and approved by the Board of Trustees.
5
ALZHEIMER'S BRAIN BANK UK
Trustees Report (continued)
For the year ended 31 March 2021
Risk Management and Internal Controls
The Trustees have responsibility for ensuring that the Charity maintains comprehensive risk management systems and appropriate actions are being taken to manage and mitigate risks. The trustees have therefore undertaken an assessment of the current risks and concluded that in view of the size of the charity and that support is available as required, the controls and procedures operated by Alzheimer's Brain Bank UK are sufficient for the organisation's needs. However, there is risk that the charity would be exposed to through association with its funders Alzheimer's Society and Alzheimer's Research UK if their risks were not adequately mitigated. This risk is managed through assurance from the risk management processes in place for the two major funders.
Reserves and Reserves Policy
At the year end the charity held reserves of £237,401 (restated 2020: £213,943). As the only sources of income are funds from the sponsoring charities which have been agreed at levels to meet planned expenditure, the Trustees are satisfied with this reserves position. Both sponsoring charities have confirmed their commitment to this expenditure.
Grants
Grants receivable are included in the accounts when the charity is entitled to the income, there is adequate probability of receipt and the amount can be quantified with reasonable accuracy.
Research grants payable to research institutions are included in the accounts when an agreement is made to commit funds, notwithstanding that payment of the funds may be made at a later date.
Going Concern
In March 2020, the World Health Organisation declared the Coronavirus a global pandemic. The UK government’s restrictions imposed to control the spread of the Coronavirus have had an impact on the activities of ABBUK including:-
-
pause in research activities;
-
temporary closure of offices and staff having to work from home.
There have been no material impacts on the values of assets or liabilities recognised in these accounts.
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trustees. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations. The trustees are also directors for the purposes of the Companies Act 2006 and have responsibilities under that Act.
6
ALZHEIMER'S BRAIN BANK UK
Trustees Report (continued)
For the year ended 31 March 2021
Statement of trustees' responsibilities (continued)
Company law requires the directors to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.
Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its profit or loss for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue to operate.
The directors are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Insofar as each of the trustees of the company at the date of approval of this report is aware there is no relevant audit information (information needed by the company's auditors) in connection with preparing the audit report of which the company's auditors are unaware. Each trustee has taken all of the steps that he/she should have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved and authorised for issue by the board of trustees and signed on their behalf:
….........................................................
Gordon Wilcock Trustee
10 September 2021
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ALZHEIMER'S BRAIN BANK UK
Independent auditor's report to the members of Alzheimer’s Brain Bank UK
For the year ending 31 March 2021
Opinion
We have audited the financial statements of Alzheimer’s Brain Bank UK for the year ended 31 March 2021 which comprise the Statement of Financial Activities (Incorporating the Income and Expenditure Account), the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2021 and of the group’s income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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ALZHEIMER'S BRAIN BANK UK
Independent auditor's report to the members of Alzheimer’s Brain Bank UK (continued)
For the year ending 31 March 2021
Other information (continued)
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
-
the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate and proper accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on pages 6 and 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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ALZHEIMER'S BRAIN BANK UK
Independent auditor's report to the members of Alzheimer’s Brain Bank UK (continued)
For the year ending 31 March 2021
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR).
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
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ALZHEIMER'S BRAIN BANK UK
Independent auditor's report to the members of Alzheimer’s Brain Bank UK (continued)
For the year ending 31 March 2021
Extent to which the audit was considered capable of detecting irregularities, including fraud (continued)
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within to be within the timing of recognition of grant income and expenditure and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Board about their own identification and assessment of the risks of irregularities, testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
….........................................................
Naziar Hashemi
Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London
1 October 2021
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ALZHEIMER'S BRAIN BANK UK
Statement of Financial Activities incorporating an income and expenditure account
For the year ending 31 March 2021
| Total unrestricted funds brought forward Total of unrestricted funds carried forward Total Income Total expenditure Net Income/(expenditure) for the year Notes 2 Income and endowments from donations and legacies: Donations Grants Legacies Expenditure on: Charitable activities 3 |
213,943 237,401 2021 £ 253 831,658 6,808 838,719 (815,261) 23,458 (815,261) |
2020 As Restated £ 307 - - |
|---|---|---|
| 307 (22,254) |
||
| (22,254) | ||
| 235,890 (21,947) |
||
| 213,943 |
The notes on pages 15 to 19 form part of these financial statements.
12
ALZHEIMER'S BRAIN BANK UK
Balance Sheet
As at 31 March 2021
| Notes Creditors 7 Research grants due within 1 year Sundry creditors and accruals Research grants debtors over 1 year Net Current Assets Net Assets Current Assets Debtors and prepayments 6 Cash at bank Research grants over 1 year 7 Unrestricted Funds 8 |
2021 £ (1,761,857) (4,680) - (1,766,537) 237,401 237,401 831,658 1,172,280 2,003,938 - 237,401 |
2020 £ As Restated 1,180,372 740,088 |
|---|---|---|
| (1,495,793) (9,920) - 1,920,460 |
||
| (1,505,713) | ||
| 414,747 (200,804) |
||
| 213,943 | ||
| 213,943 |
The notes on pages 15 to 19 form part of these financial statements.
These accounts have been prepared in accordance with the provisions of the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 12 to 19 were approved and authorised for issue by the Board on
10 September 2021 and signed on its behalf by:
…...............................................
Gordon Wilcock Trustee
Company number 05762960
13
ALZHEIMER'S BRAIN BANK UK
Statement of Cash Flows
For the year ended 31 March 2021
| Change in cash and cash equivalents in reporting period Bank cash and cash equivalents at the beginning of the reporting period Short term deposits at the beginning of the reporting period Total cash and short term deposits at the beginning of the reporting period Bank cash and cash equivalents at the end of the reporting period Cash flows from operating activities Net cash provided by/(used in) operating activities Net expenditure for the reporting period Adjustments for: Decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities |
2021 £ 348,714 60,020 432,192 432,192 1,172,280 23,458 432,192 740,088 - 740,088 |
2020 £ As Restated (186,145) |
|---|---|---|
| (186,145) 926,233 - |
||
| 926,233 | ||
| 740,088 | ||
| 591,640 (755,838) (21,947) |
||
| (186,145) |
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ALZHEIMER'S BRAIN BANK UK
Notes to the Financial Statements
For the year ended 31 March 2021
Company information
Alzheimer's Brain Bank UK is a registered charity (charity No. 1114578) and a company limited by guarantee and registered in England (company No. 05762960). It meets the definition of a public benefit entity under FRS102.
1 Accounting Policies
Basis of Accounting
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Companies Act 2006 and Charities SORP 2015 (FRS 102) applicable to charities preparing their accounts in accordance with the Financial Reporting standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
Alzheimer's Brain Bank UK meets the definition of a public benefit entity under FRS 102.
Going Concern
In March 2020, the World Health Organisation declared the Coronavirus a global pandemic. The UK government’s restrictions imposed to control the spread of the Coronavirus have had an impact on the activities of ABBUK including:-
-
pause in research activities;
-
temporary closure of offices and staff having to work from home.
There have been no material impacts on the values of assets or liabilities recognised in these accounts.
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the Trustees. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Incoming Resources
Income received by way of grants is included in the statement of financial activities when notified by the sponsoring charities. Bank interest is included on a receipts basis.
Legacy Policy
Legacies are recognised in the statement of financial activities when there is adequate probability and reliability of receipt and their value can be accurately measured.
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ALZHEIMER'S BRAIN BANK UK
Notes to the Financial Statements (continued)
For the year ended 31 March 2021
1 Accounting Policies (continued)
Resources Expended
All expenses are accounted for on an accruals basis.
Grants to third parties for specific purposes are reflected in the accounts when an agreement is made to commit funds to the project although disbursement of the funds may be made in a subsequent accounting reference period. Other non administrative expenditure has been classified by reference to its function rather than type of expense so that all costs relating to a specific activity have been aggregated. The basis of allocation is reviewed regularly.
Funds
All funds are unrestricted and are available for use by Alzheimer's Brain Bank UK within its charitable objects at the discretion of the Trustees.
Financial Instruments
Alzheimer's Brain Bank UK 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 amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, together with debtors. Financial liabilities held at amortised cost comprise grants payable, creditors and accruals.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, which are described above, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
| 2 Grants Grant from the Alzheimer's Society Grant from the Alzheimer's Research UK |
2021 £ 415,829 415,829 831,658 |
2020 £ - - |
|---|---|---|
| - |
Alzheimer's Society & the Alzheimer's Research UK are related parties by virtue of the fact that the trustees of Alzheimer's Brain Bank UK are nominees of these two sponsoring charities.
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ALZHEIMER'S BRAIN BANK UK
Notes to the Financial Statements (continued)
For the year ended 31 March 2021
| 3 Charitable Activities Research Grants: University of Bristol University of Cardiff King's College London University of Manchester University of Newcastle University of Newcastle (Co-ordinating Centre) University of Oxford Staff costs (note 4) Associated support costs (note 5) 4 Staff Costs Gross wages and salaries Employer's National insurance Pension contributions 5 Support Costs Auditors' remuneration Other expenses 6 Debtors and Prepayments Amount owed by related parties due within one year: Alzheimer's Society Alzheimer's Research UK During the year the Charity employed 1 member of staff |
2021 £ 123,079 58,600 155,340 104,133 116,694 103,357 130,455 791,658 18,849 4,754 815,261 2021 £ 16,338 1,642 869 18,849 2021 £ 4,680 74 4,754 2021 £ 415,829 415,829 831,658 |
2020 £ - - - - - - - |
|---|---|---|
| - 16,742 5,512 |
||
| 22,254 | ||
| 2020 £ 14,434 1,456 852 |
||
| 16,742 | ||
| 2020 £ 4,560 952 |
||
| 5,512 | ||
| 2020 £ 736,006 444,366 |
||
| 1,180,372 |
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ALZHEIMER'S BRAIN BANK UK
Notes to the Financial Statements (continued)
For the year ended 31 March 2021
| 7 Creditors Amounts falling due within one year Research grants Amounts due to Alzheimer's Society Audit fee Research grants creditors payable Within one year Between one year two years Between two and five years Reconciliation of Research grants commitments Balance brought forward New Commitments entered into Commitments no longer required Amounts spent in the year 8 Movement in Funds Balance bought forward as at 1st April Net outgoing resources for the year Research grants due in more than one year Balance carried forward |
2021 £ 1,761,857 - 4,680 1,766,537 1,761,857 - - 1,761,857 1,696,597 791,658 - (726,398) 1,761,857 2021 £ Unrestricted Fund 213,943 23,458 - 237,401 |
2020 £ As Restated 1,495,793 5,360 4,560 |
|---|---|---|
| 1,505,713 | ||
| - | ||
| 1,495,793 200,804 - |
||
| 1,696,597 | ||
| 2,440,892 - - (744,295) |
||
| 1,696,597 | ||
| 2020 £ Unrestricted Fund As Restated 235,890 (21,947) |
||
| 213,943 |
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ALZHEIMER'S BRAIN BANK UK
Notes to the financial statements (continued)
For the year ended 31 March 2021
9 Transactions with Trustees
The trustees neither received nor waived any emoluments during the year (2020 £nil) and no out of pocket expenses were reimbursed to Trustees (2020: 2) as follows:
| Travel expenses | 2021 £ - - |
2020 £ 206 |
|---|---|---|
| 206 |
10 Members' Liability
The company is limited by guarantee and does not have a share capital. The number of members at 31 March 2021 was 2 and their liability in the event of a deficiency of assets on winding up of the company is limited to £10 each.
11 Related Parties
As at 31 March 2021 ABBUK owed £nil (2020: £5,360) to Alzheimer's Society for the provision of staff.
In addition to this, ABBUK was owed the balance of funding for BDR3 Year 2 of £nil (2020: £291,400) by Alzheimer's Society which is included under related party debtors due within one year. During the year, ABBUK was fully repaid the grant.
19