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:
**----- Start of picture text -----**
.........................................
KT Zondervan
Trustee
**----- End of picture text -----**
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 hello@sc-accounting.co.uk, 01865 589 057