2021-07-31-accounts

Company registration number: 05872316 Charity registration number: 1116775

World Endometriosis Research Foundation

(A company limited by guarantee)

Annual Report and Financial Statements

for the year ended 31 July 2021

Contents

Reference and Administrative Details	1
Strategic Report	2
Statement of Financial Activities	3
Balance Sheet	4
Notes to the Financial Statements	5 to 9

Reference and Administrative Details

President	GD Adamson
Trustees	L Rombauts
	KT Zondervan
	SA Missmer
	LC Giudice
Senior management team	L Hummelshoj
Registered office	89 Southgate Road
	London
	N1 3JS
Company registration number	5872316
Charity registration number	1116775
The charity is incorporated in England	and Wales
Independent examiner	SC Accounting
	Mulberry, 1 The Pound
	Longcot Road
	Fernham
	Oxfordshire
	SN7 7NW

Page 1

Strategic Report for the Year Ended 31 July 2021

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 July 2021, in compliance with s414C of the Companies Act 2006.

Objectives and activities

The trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aim and objectives, and in planning their activities. In particular, trustees consider how planned activities will contribute to the aims and objectives they have set.

WERF is the first global charitable organisation with an aim to foster research into endometriosis to improve knowledge and treatments. To achieve this aim WERF facilitates well-powered multi-centre studies, and works to raise sufficient funds to support research projects investigating disease mechanisms.

Providing a global platform WERF aims to ensure that:

• collaborative research is carried out among international centres;

• datasets are shared;

• encouraging results lead to further research;

• strict protocols are enforced to ensure research is of high quality;

• results can be translated into viable treatments.

Achievements and performance

WERF is now working with more than 100 institutions in 35 countries.

In 2020-2021 WERF’s EPHect tools were expanded to being used in 48 centres. The WERF EPHect Patient Clinical Questionnaire (EPQ) is now available in 16 languages and being translated into a further three.

In the spring of 2021 the existing data and samples available – now the largest data repository in the world

on endometriosis – were presented at the virtual 14[th] World Congress on Endometriosis.

WERF has commenced work to expand its EPHect tools to encompass the harmonisation of standard operating procedures in experimental models in endometriosis (homologous, heterologous, pain, and organoids).

Global presence

Following the ongoing global lockdown some meetings continued virtually and, where possible, WERF trustees have continued to promote the WERF EPHect tools and WERF’s overall mission at numerous online workshops, focus meetings, and invited lectures at various universities and institutions across the world.

The strategic report was approved by the trustees of the charity on 29th April 2022 and signed on its behalf by:

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.........................................
KT Zondervan
Trustee
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Page 2

World Endometriosis Research Foundation	Charity No	1116775
	Company No	5872316
Statement of financial activities for the year ended 31 July 2021 (including summary income and expenditure account)

Note 3 Expenditure (Notes 6) Expenditure on: 4 5 Reconciliation of funds: 9 Total funds carried forward Total Expenditure Total funds brought forward Net movement in funds Total Income Donations and legacies Net income/(expenditure) Raising funds Charitable activities Income and endowments from:	Unrestricted funds £ 67,770 67,770 (57) (8,197) (8,254) 59,516 59,516 74,753 134,269	Total 2021 £ 67,770 67,770 (57) (8,197) (8,254) 59,516 59,516 74,753 134,269	Total 2020 £ 66,819
			66,819
			(804) (5,938)
			(6,742)
			60,077
			60,077 14,676
			74,753

The notes on pages 5 to 9 form an integral part of these financial statements. Page 3

World Endometriosis Research Foundation	Charity No Company No	Charity No Company No		1116775 5872316
Balance sheet as at 31 July 2021
Note Current assets Debtors 6 Cash at bank and in hand 7 Total current assets Creditors: amounts falling due within one year 8 Total net assets or liabilities Funds of the Charity: Unrestricted funds Total funds 9		Total this year £ 328 136,293		Total last year £ 328 77,560
		136,622 (2,353)		77,888 (3,135)
		134,269		74,753
		134,269		74,753
		134,269		74,753

For the financial year ending 31 July 2021 the charity was entitled to exemption from audit under section 477 of the companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements on pages 3 to 10 were approved by the trustees, and authorised for issue on 29th April 2022 and signed on their behalf by:

…................................................................................................... KT Zondervan Trustee

The notes on pages 5 to 9 form an integral part of these financial statements. Page 4

Notes to the accounts

1. Charity Status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £Nil towards the assets of the ccharity in the event of liquidation.

The address of its registered office is: 89 Southgate Road London N1 3JS

2. Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless stated otherwise.

Statement of compliance

The accounts 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). They also comply with the Comapnies Act 2006 and Charities Act 2011.

Basis of preparation

The World Endometriosis Research Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are intitially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of the income receiveable can be measured reliably.

Expenditure

All expendtiture is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

Page 5

(cont'd)

Notes to the accounts

2. Accounting policies (cont'd)

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

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.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Trade debtors

Trade debtors are amounts due from customers for merchandising sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at the amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receiveables.

Cash and cash equivalents

Cash and cash equivalents comprise cash i n hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the ojectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Page 6

Notes to the accounts

(cont'd)

Notes to the accounts (cont'd)
Designated General £ £ Donations from individuals 54,036 13,733 Total for 2021 54,036 13,733 Total for 2020 53,134 13,685 a) Costs of generating donations and legacies Unrestricted funds Designated £ Total for 2021 57 Designated General £ £ Support costs - 8,197 Total for 2021 - 8,197 Total for 2020 - 5,938 2021 £ Trade debtors 328 Other debtors 328 328 2021 £ Cash at bank and in hand 136,293 2021 £ Trade creditors 660 Accruals 1,693 2,353 Note 6 Debtors Note 7 Cash and cash equivalents Note 8 Creditors: amounts falling due within one year Note 4 Expenditure on raising funds Note 5 Expenditure on charitable activities Unrestricted funds Note 3 Income from donations and legacies Donations and legacies: Unrestricted funds	Total funds £ 67,770 -
	67,770
	66,819
	Total funds £ 57
	Total funds £ 8,197 8,197
	5,928
	2020 £ 328 328
	328
	2020 £ 77,560
	2020 £ 2,475 660
	3,135

Page 7

Notes to the accounts		(cont'd)
Balance at 1 August 2020 £ Unrestricted funds General fund 6,612 Designated Basic research fund 53,158 EPHect 14,652 67,810 Total funds 74,422 Balance at 1 August 2019 Incoming resources £ £ Unrestricted funds General fund - 13,685 Designated Basic research fund 24 53,134 EPHect 14,652 - 14,676 53,134 Total funds 14,676 66,819 Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets Note 9 Funds Note 10 Analysis of net assets between funds	Incoming resources £ 13,733 54,036 - 54,036 67,770 Resources expended £ - - - - -	Resources expended £ (8,897) - - - (8,897) Transfers £ (7,073) - - - (7,073) Unrestricted funds General £ 136,622 (2,353) 134,269 Unrestricted funds General £ 77,888 (3,135) 74,753	Balance at 31 July 2021 £ 11,449
			107,194 14,652
			121,846
			133,295
			Balance at 31 July 2020 £ 6,612
			53,158 14,652
			67,810
			74,422
			Total funds 31 July 2021 £ 136,622 (2,353)
			134,269
			Total funds 31 July 2020 £ 77,888 (3,135)
			74,753

Page 8

Note 11 Analysis of net funds

Cash at bank and in hand Total Cash at bank and in hand Total	As at 1 August 2020 £ 77,560 77,560 As at 1 August 2019 £ - -	Financing cash flows £ 58,733 58,733 Financing cash flows £ 77,560 77,560	At 31 July 2021 £ 136,293
			136,293
			Total funds 31 July 2020 £ 77,560
			77,560

Page 9

Charity No 1116775 Company No 5872316

World Endometriosis Research Foundation

Statement of Financial Activities by fund for year ended 31 July 2021 Unrestricted Funds

Net movement in funds Total funds brought forward Total funds carried forward Reconciliation of funds: Total Expenditure Net income/(expenditure) Expenditure on: Total Income Raising funds Charitable activities Income and endowments from: Donations and legacies	Total Unrestricted funds 2021 £ 67,770 67,770 (57) (8,197) (8,254) 59,516 59,516 74,753 134,269	Total Unrestricted funds 2020 £ 66,819
		66,819
		(804) (5,938)
		(6,742)
		60,077
		60,077 14,676
		74,753

Page 1 0

World Endometriosis Research Foundation	Charity No Company No	Charity No Company No		1116775 5872316
Detailed Statement of Financial Activities for the year ended 31				July 2021
Accountancy fees Independent examiner's fee Promotional expenses Project research and management Management Printing, postage and stationery Charitable activities Telephone and fax Travel and subsistence Promotional expenses Website Bank charges Direct costs Raising funds Donations and legacies Legacies and bequests		Total 2021 £ 67,770 (57) (57) (6,769) (63) - (360) (329) 37 (13) (700) (8,197)		Total 2020 £ 66,819
				(804)
				(804)
				- (5,043) (14) (30) (62) - (360) (276) 176 331 (660)
				(5,938)

Page 1 1

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of the World Endometriosis Research Foundation for the year ended 31[st] July 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Charities Act 2011 (‘the 2011 Act’). In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• the accounts did not accord with the accounting records; or

• the accounts did not comply with the applicable requirements concerning the form and content of accounts set 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 in order to enable a proper understanding of the accounts to be reached.

Signed:

Date: 28th April 2022

Sian Cooper MAAT, Licensed Accountant. Mulberry, 1 The Pound, Longcot Road, Fernham, Oxfordshire, SN7 7NW [e-mail], 01865 589 057