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2021-04-05-accounts

Charity Registration No. 1118192

Company Registration No. 06074887 (England and Wales)

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Paul Von Der Heyde (Chairman)
J. M. Peel
C. C. Auld
Secretary Fisher Secretaries Limited
Charity number 1118192
Company number 06074887
Principal address Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
Auditor Xeinadin Audit Limited
Chartered Accountants and Registered Auditors
Dalton House
9 Dalton Square
Lancaster
LA1 1WD
Bankers Santander Business Banking
PO Box 10102
21 Prescot Street
London
E1 8TN
Solicitors Wilsons Solicitors
Steynings House
Summerlock Approach
Salisbury
Wiltshire
SP2 7RJ

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 21

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 5 APRIL 2021

The trustees present their report and financial statements for the year ended 5 April 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deeds , the Charities Act 2011, the Companies Act 2006 and “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 from 1 January 2019) .

Objectives and activities

The Charity's objects are:

(a) The relief of sickness and the preservation of health among people including (but not limited to) those suffering from psoriasis, psoriatic arthropathy and other related or similar conditions;

(b) To promote and protect the physical and mental health of sufferers of psoriasis, psoriatic arthropathy and other related or similar conditions through the provision of financial assistance, support, education and practical advice to sufferers and their families and their carers;

(c) To advance the education of the medical profession, the nursing profession, the media and the general public in all areas relating to psoriasis, psoriatic arthropathy and other related or similar conditions; and

(d) To promote or assist in the promotion of research into the causes, prevention, alleviation and the management of psoriasis, psoriatic arthropathy and other related or similar conditions, and to disseminate the useful results of such research for the public benefit.

The policies adopted in furtherance of these objects are:

(1)To continue to provide support and advice to those affected either directly or indirectly by psoriasis and or psoriatic arthritis.

(2)To actively educate the wider public about the conditions of psoriasis and psoriatic arthritis, by responding to direct contact with the charity and proactively contributing to media and public debates.

(3)To continue developing, updating and providing free educational information in the form of leaflets, pamphlets, other printed material and a comprehensive website.

(4)To investigate what areas of research are being undertaken and where the trustees feel it is appropriate, they will make grants available. Grants are made at the discretion of the trustees and in accordance with the objects of the charity.

There have been no changes to the objects or policies during the year.

Achievements and performance

In the previous annual report, the trustees set-out a clear strategy to further establish the charity, by priority areas of work.

These are as follows:

To develop these aims the charity engaged in a number of activities that would either expand the work or lead towards implementation in the future. The following had been identified as areas to develop:

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

Two main actions were agreed:

  1. Explore further the website data and provide analysis to determine performance, particularly the revisiting users versus new user.

  2. Develop ideas for projects that could attract funds or be used to apply for grants from trusts, charities and government funding.

The development of these tasks was stalled due to the international identification of the COVID-19 virus at the beginning of 2020. It is fair to say that it was not expected that the global pandemic and subsequent restrictions would have either lasted as long or have the extended impact across all sectors of society. It is equally fair to say that for charitable organisations the impact was significant, particularly for planned activities and future aims and objectives.

In line with many businesses and organisations, from 23 March 2020, following national government instruction, the PAPAA team of staff were required to relocate to ‘working from home’ (WFH). Therefore, moving into the year beginning 6 th April 2020, the charity was working remotely and needed to adapt to the circumstances and continue to support its constituent group.

As a small team and having developed ‘tasks and processes’ for activities, the staff were able, after initial interruption, set-up WFH quickly and to continue to offer support services. The previous decision to update the IT infrastructure and move to remote login and access to emails and cloud phone services, made remote work easier, although not ideal.

The use of Zoom conferencing with daily staff catch-ups was established and allowed the protection needed for staff to operate safely. A main task that had to be suspended was the distribution of printed information to healthcare settings, as many clinics stopped seeing patients face-to-face and paper material was removed from public display. This impacted too on the distribution of the bi-annual Skin ‘n’ Bones Connection journal.

An initial impact of the pandemic was an increase in helpline enquiries from people affected by psoriasis and psoriatic arthritis and how the virus was likely to affect them. At the time there was little information, but with Dr David Ashton’s support an initial piece of information was added to the news section of the website, with links to trusted sources. The page became the most accessed page (34%) on the website during most of 2020. A subsequent FAQs page was developed to include information about vaccines and further links to sources of information to help people make decisions and assess risks.

During the same period of time the National Institute of Health and Care Excellence (NICE), started to develop rapid guidance to support and inform both patients and healthcare professionals about COVID -19. PAPAA as a previously important stakeholder was invited to be involved. The urgency of the situation required quick response to requests over short-time period. The National Institute of Health Research (NIHR) also sought input from those working within the voluntary sector to review research applications related to COVID-19 treatment and care, these also required rapid turnaround. PAPAA contributed significant input into the review process as part of the national emergency and call for support.

The move towards virtual work and in particular attendance of meetings accelerated; we were unable to attend meetings in person, with most meetings moved to online only. These were via the various video conferencing systems. This has proved to be advantageous in some circumstances, as it has allowed the charity to be represented at events that in the past would have been prohibitive due to location and cost to attend. The disadvantages and shortcoming of virtual participation was outweighed by the ability to be actively involved and engaged. This has proven to be a useful outcome and raised the profile of the charity, therefore fulfilling the trustees’ aim of raising awareness of both the condition and organisations work and activities.

The role of healthcare providers is also seen as a vital part of the charity’s role, with an ongoing process of support and supply of educational material to aid patients. Distribution is mainly aimed at secondary care specialist centres, but also a large piece of work is with community pharmacists, who provide awareness of the charity’s services at the point of delivery of medicines.

The Psoriasis in Practice healthcare professional online Continuing Professional Development (CPD) training programme continued to be accessed and reaccreditation was achieved again from the Royal College for Nursing professional accreditation centre.

As a former member of the NHS England Information Standard scheme, which ended in 2018, the charity applied to the Patient Information Forum (PIF). PIF is the UK membership organisation and network for people working in health information and support.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

As the independent voice of UK health information, PIF have developed a replacement called the PIF TICK. Full accreditation was awarded in September 2020 to certify that PAPAA had met the requirements of the PIF TICK quality mark for health information.

As part of awareness and fundraising development, we are a member of the Fundraising Regulator, to provide transparency and clear guide to the public about the way in which we will manage our fundraising activities.

In our drive to fulfil our aims, objectives and wider public benefit a retrospective review took place to demonstrate the achievements so far and to provide a future benchmark.

The following are part of our impact statement:

Collaboration and involvement with other organisations and external agencies are seen by the charity as an important part of the advocacy and representation of the organisation’s constituent group. This includes work with the Priority Setting Partnership with the James Lind Alliance, the British Association of Dermatologists, and The British Society for Rheumatology.

The charity joined the Connect Immune Research (CIR) initiative, which is a collective of type 1 diabetes charity JDRF, MS Society, and Versus Arthritis with support partner the British Society for Immunology. The intention is to learn how immune disorders are linked. To be more specific, ‘what are the common mechanisms of autoimmunity and immune mediated inflammation?’. PAPAA believes that working collectively in collaboration is of benefit to those affected by psoriasis and psoriatic arthritis and associated conditions.

An ongoing process of data gathering and analysis of user issues, along with strategic distribution of electronic surveys and a standing open access PAPAA survey, have built a broad view of the needs of the constituent group the charity represents.

The use of this original generally unpublished data aided the submission of the patient’s ‘lived experience’ to the National Institute for Health and Care Excellence (NICE), the Scottish Medicines Consortium (SMC) and the All-Wales Medicines Strategy Group (AWMSG) to drug appraisals for new medicines, has proven to be very valuable and provide a real-life perspective. Positive feedback was received following submissions, with the charity’s approach being formally appreciated by the Patient and Public Engagement teams of the respective agencies.

Responding to calls from medicine agencies is seen as an important PAPAA representation role. This has also included proactive engagement by raising alarms and alerts to the Medicines Health Regulator Authority (MHRA), regarding misleading advertising, inappropriate promotion of psoriasis and psoriatic arthritis products, and where fake or adulterated medicine is being made available. This work is jointly from evaluation of the area of operation and through direct contact from people with the condition. This close engagement has also seen invitations to contribute to safety campaigns that provided a wider benefit beyond our area of work, by also providing a public benefit.

Supporting people to understand psoriasis and psoriatic arthritis and raise awareness to a wider audience ha d continued to be part of the work of the charity.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

Providing realistic support, that is backed by evidence and scientific rigour is key to that support. The role of meeting all those affected needs from cradle to grave also continues to be of the utmost importance.

A policy of open access to a confidential and anonymous helpline, has also been maintained. The support that is given generally follows a peer-to- peer approach of listening, showing empathy and then directional advice of how to get the most of the services provided within the NHS framework. This work, although, often intense and in depth, is often praised by service users as a useful and effective approach to supporting them in what can be a very difficult period, whether newly diagnosed or entering a different phase of life or disease stage. The ability to provide time, resource and signposting is also valued, with returning calls to seek further support often taking place.

Identification of areas that the charity can provide support and benefit in which it operates continues. Although during this financial year there was interruption and redeployment of healthcare professionals to deal and cope with the COVID-19, the organisation still received interest in its research provision, although some funds were distributed, there was considerable delay and no cost extension w as given to grant holders.

The following continue to be the main areas of interest to the trustees:

PAPAA continues to hold partner status with the National Institute for Health Research (NIHR), which allows eligible research projects to be included in the NIHR Clinical Research Network Portfolio and therefore able to access NHS support via the NIHR Clinical Research Network infrastructure. Future support of relevant research will continue, but more focus and calls for appropriate aligned research may begin. This will change as the organisation’s strategy direction is influenced by external demands.

Unmet needs

We have continued to engage with our constituent group particularly via our ‘your views’ and ‘share your story’ sections of our website. Regular surveys have allowed us to identify areas and themes that are important to patients. Analysis of website search terms and activity along with direct interaction with people has identified a number of topics where exploration is required. This work continues to influence the production of new content and support activities.

Public and patient engagement

This has become an important part of our work and aligns with growing expectation that charities need to demonstrate how their work is influenced by those they serve. PAPAA is continuing to engage with patients and the public in order to help our patientcentred approach to provide support based on need. We have an active user group that provides input and support.

PAPAA has also continued to engage at events, in order to represent the charity. These were exclusively online as virtual events, although there are some disadvantages to virtual engagement, the reduced resource implications to attend physical meetings and opportunity to attend more events, should be seen as an advantage of COVID-19 restrictions, but most importantly this wider attendance helps to raise issues that are relevant to people affected by psoriasis and psoriatic arthritis.

Apart from the forward planning ambitions of the charity, there still remains core day-to-day activities that continue to be carried out in support of people affected by psoriasis and psoriatic arthritis, these are as follows:

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

Conclusion

Under the unprecedented circumstances that the pandemic brought, the charity and its staff have been able to meet the needs of those who use its services and were also able provide wider support and advice.

The previous risk assessment and decisions to upgrade the core websites, digital presentations, IT infrastructure and move towards cloud devices, allowed a quick deployment and reasonably seamless service, with limited disadvantages to those who engage. This demonstrated that the charity is well armed to meet any challenges it may face. Although the likely impact on income should not be underestimated, the interruptions in activity roll-out and delayed fundraising and awareness activity will hit PAPAA’s ambitions and also the wider charity and voluntary sector, which will lead to more demand on limited resources and greater competition for funds.

Taking all of the issues that COVID-19 raised, going forward we intend to continue to expand our areas of work by continuing to develop a fundraising strategy to support and develop these key areas further, we will build and consolidate on the solid progress and implementation of the work identified and agreed by the trustees.

The global pandemic and subsequent wider social and political changes, will no doubt have a significant impact on health and social care services, charities are often seen as the service that will provide the support and answers to fulfil the gaps that will inevitably emerge, which will potentially be a very challenging process.

Financial review

The Trustees have decided to adopt a cautious approach to investment and have their funds spread in various secure cash bank and investment accounts. A managed ethical investment portfolio has been setup to maximize the funds not needed for immediate use. A review of the investment policy and returns is undertaken at Trustee meetings during the year.

Income generated for the year was £ 31,179 (20 20 : £ 52,922 ) and expenditure of £ 289,842 (20 20 : £322,0 5 2). The net deficit for the year was £ 84,426 (20 20 : £ 343,670 ).

Reserves policy

It is anticipated that expenditure will increase over the coming year and therefore the trustees consider unrestricted reserves of approximately £300,000 are required to cover one years operating costs. Currently designated funds are £ 1,086 , 600 ; these funds have been set aside by the trustees for investment to earn sufficient investment income to fund on-going research for Psoriasis and Psoriatic Arthritis.

Designated funds

The trustees have decided that a designated fund should be allocated to grants for research. The charity operates an open application small research grant programme, with a maximum award per application of £10,000.

The size of the fund allocation is £50,000 per financial year, which reflects the current and anticipated level of applications based on funded projects within the portfolio and that of rejected applications in the current financial year.

It is anticipated that the fund will be spent within each financial year, if not the funds will be car r ied forward to create a rolling offer, or used for support, which the trustees proactively identify as meeting with the aims and objectives of the charity. Awards will only be made based on extensive and thorough vetting of the applications.

Structure, governance and management

The Charity is a charitable company limited by guarantee and was incorporated on 30 January 2007. The company took over the assets, liabilities and activities of the Psoriasis Support Trust, an unincorporated charity, on 6 April 2007 and of the Psoriatic Arthropathy Alliance charitable company limited by guarantee on 3 April 2009 as agreed by the trustees of both charities.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Paul Von Der Heyde (Chairman)

J. M. Peel C. C. Auld B. Lindsey (Resigned 11 March 2021)

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

The charity is governed by a board of trustees who meet regularly. New trustees are recruited through other trustees. Before joining they are given a copy of the Memorandum & Articles of Association as well as accounts and they then meet with the trustees for induction and training.

The Trustees are satisfied that procedures are in place to identify and manage any significant risks to which the charity might be exposed.

None of the Trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute no more than £10 in the event of winding up.

Public benefit

The sections of this report above entitled "Objectives and activities" and "Achievement and performance" set out the charity's objectives and reports on the activities and successes in the year to 5 April 20 21 as well as explaining the plans for the current financial year.

The trustees have reviewed the public benefit criteria as set out by the Charities Commission in relation the charity's objects and believe the charity fulfils these as follows:

The charity serves a section of the general public who have specific issues with psoriasis and psoriatic arthritis. The charity's role here provides support and advice as a service free at access point. Wider awareness activities educate other members of the public to gain a better understanding of the disease and the nature of its course, particularly those who are affected either directly or indirectly by the condition as a relative, friend or employer.

The organisation operates an inclusive society policy and therefore provides support, advice and education to any member of the public who needs/requests it and ultimately receive subsequent benefit; this activity is free and requires no obligation or commitment from the individual(s) concerned. The trustees' believe this fulfils the charity's objectives, but also demonstrates the wider view of the general public as to what is deemed to be charitable.

Asset cover for funds

Note 1 9 and 20 sets out an analysis of the assets attributable to the various funds and a description of the trusts. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

Auditor

A Resolution proposing that Xeinadin Audit Limited be reappointed as auditors of the company will be put to the members.

Disclosure of information to auditor

Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor are aware of such information.

The trustees' r eport was approved by the Board of Trustees.

.............................. Paul von der Heyde

Paul Von Der Heyde (Chairman)

Trustee 04 Apr 2022 Dated: .........................

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2021

The trustees, who are also the directors of Psoriasis and Psoriatic Arthritis Alliance for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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 Companies Act 2006. They 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.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

Opinion

We have audited the financial statements of Psoriasis and Psoriatic Arthritis Alliance (the ‘Charity’) for the year ended 5 April 2021 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

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 Charity 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 trustees' 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 Charity’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees' r eport.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

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:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the Charity for the purpose 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 error. In preparing the financial statements, the trustees are responsible for assessing the Charity’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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s ://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report.

(Senior Statutory Auditor)

For and on behalf of Xeinadin Audit Limited

Chartered Accountants and Registered Auditors Dalton House 9 Dalton Square Lancaster LA1 1WD

.........................

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2021

Unrestricted
Unrestricted
funds
funds
general
d esignated
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
10,343
-
Investments
4
19,331
1,505
Total income
29,674
1,505
Expenditure on:
Raising funds
5
9,587
-
Charitable activities
Information and Support
Services
6
280,255
-
Total charitable expenditure
280,255
-
Total resources expended
289,842
-
Net gains/(losses) on
investments
11
174,237
-
Net outgoing resources
before transfers
(85,931)
1,505
Gross transfers between
funds
77,861
(77,861)
Net movement in funds
(8,070)
(76,356)
Fund balances at 6 April
2020
308,070
1,162,956
Fund balances at 5 April
2021
300,000
1,086,600		 Total
Unrestricted
Unrestricted
funds
funds
general
d esignated
2021
2020
2020
£
£
£
10,343
28,819
-
20,836
19,338
4,765
31,179
48,157
4,765
9,587
9,362
-
280,255
312,690
-
280,255
312,690
-
289,842
322,052
-
174,237
(74,540)
-
(84,426)
(348,435)
4,765
-
356,505
(356,505)
(84,426)
8,070
(351,740)
1,471,026
300,000
1,514,696
1,386,600
308,070
1,162,956		 Total
2020
£
28,819
24,103
52,922
9,362
312,690
312,690
322,052
(74,540)
(343,670)
-
(343,670)
1,814,696
1,471,026

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 5 APRIL 2021

2021
Notes
£
Fixed assets
Intangible assets
12
Tangible assets
13
Investments
14
Current assets
Debtors
16
3,481
Cash at bank and in hand
212,857
216,338
Creditors: amounts falling due within one year
17
(26,793)
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Designated funds
19
1,086,600
General unrestricted funds
300,000
The financial statements were approved by the Trustees on .........................
..............................
Paul Von Der Heyde (Chairman)
Trustee
04 Apr 2022
Paul von der Heyde		 £
52,859
6,718
1,137,478
1,197,055
189,545
1,386,600
1,386,600
1,386,600		 2020
£
4,607
452,496
457,103
(22,691)
1,162,956
308,070		 £
75,840
4,814
955,960
1,036,614
434,412
1,471,026
1,471,026
1,471,026

Company Registration No. 06074887

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

Charity information

The charity is a company limited by guarantee and has no share capital. The registered office is Acre House, 11-15 William Road, London, NW1 3ER. The liability of each member in the event of winding up is limited to £10.

1.1 Accounting convention

The accounts have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and “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 from 1 January 2019). The Charity is a p ublic b enefit e ntity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the Charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The accounts present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

1.2 Going concern

The trustees have considered the effect of the prolonged Covid-19 outbreak. The trustees consider that the outbreak is unlikely to cause significant disruption to the charity’s activities and are confident that the charity can continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. The trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future.

1.3 Charitable funds

Funds held by the charity are:

Unrestricted general funds - these are the funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds - these are the funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable or any requirement imposed on the grant is fulfilled.

Interest on funds held on deposit is included upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received by our investment advisor of the investment portfolio.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that 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 to the charitable activity in the statement of financial activities.

Grants payable are charged in the period in which the grant is approved by the trustees except where the offer is conditional, in which case they are recognised when the attached conditions are fulfilled. Grants subject to conditions which have not been met at the year end are noted as commitment but not accrued as expenditure.

Governance costs included those costs incurred in the governance of the charity's assets and are primarily associated with constitutional and statutory requirements.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Website cost 20% reducing balance

Current year amortisation expense includes amortisation for period from 09 September 2019 to 30 April 2021.

1.7 Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery 25% reducing balance Fixtures, fittings & equipment 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

(Continued)

1.8 Fixed asset investments

Fixed asset investments consists of listed investments and shares in a subsidiary undertaking.

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

The investment includes the charity's holding in its subsidiary trading company and is shown at cost.

A subsidiary is an entity controlled by the Charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks .

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity 's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

The Charity operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Trustees do not consider there to be judgements or estimates that would be considered to be critical to the financial statements.

3 Donations and legacies

Donations

Legacies received
 2021
£
10,343
-
10,343		 2020
£
10,362
18,457
28,819

All donations and subscriptions in 20 2 1 and 2020 were unrestricted.

4 Investments

Unrestricted
Unrestricted
funds
funds
general
d esignated
2021
2021
£
£
Income from listed
investments
16,868
-
Interest receivable
2,463
1,505
19,331
1,505		 Total
Unrestricted
Unrestricted
funds
funds
general
d esignated
2021
2020
2020
£
£
£
16,868
18,288
-
3,968
1,050
4,765
20,836
19,338
4,765		 Total
2020
£
18,288
5,815
24,103

5 Raising funds

Investment management

Unrestricted Unrestricted
2021 2020
£ £
9,587 9,362
9,587 9,362

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

6 Charitable activities

Information Information
and Support and Support
Services Services
2021 2020
£ £
Medical consultancy 20,303 26,021
Printing and stationery 6,231 24,868
Contribution to PAPAA Enterprises Limited 338 695
26,872 51,584
Grant funding of activities (see note 7) 8,500 49,496
Share of support costs (see note 8) 217,279 194,621
Share of governance costs (see note 8) 27,604 16,989
280,255 312,690

Net expenditure in the year is stated after charging audit fees of £2,900 (2020: £NIL), depreciation of owned tangible fixed assets of £2,127 (2020: £900).

All expenditure on charitable activities in 20 21 and 20 20 was unrestricted.

7 Grants payable

Information Information
and Support and Support
Services Services
2021 2020
£ £
Grants to institutions:
Queen's University Belfast - 32,175
Dermnet NZ - 17,321
The University of Liverpool 8,500 -
8,500 49,496

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

8
Support costs
Support costs
Governance
costs
£
£
Staff costs
146,257
-
Depreciation
25,108
-
Rent and rates
24,010
-
IT consultancy
12,359
-
Postage
4,563
-
Telephone and fax
2,352
-
Other expenses
926
-
Subscriptions
504
-
Travel
-
-
Training cost
1,200
-
Audit fees
-
2,900
Legal and professional
-
23,419
Insurance
-
1,285
217,279
27,604
Analysed between
Charitable activities
217,279
27,604		 2021
£
146,257
25,108
24,010
12,359
4,563
2,352
926
504
-
1,200
2,900
23,419
1,285
244,883
244,883		 2020
£
146,077
900
24,578
2,600
10,721
2,153
4,932
873
387
1,400
-
16,426
563
211,610
211,610

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year or reimbursed expenses.

10 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
3
2021
£
131,250
10,476
4,531
146,257		 2020
Number
3
2020
£
129,320
11,274
5,483
146,077

There were no employees whose annual remuneration was £60,000 or more (2020: nil).

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

11 Net gains/(losses) on investments
Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Revaluation of investments 161,111 (74,540)
Gain/(loss) on sale of investments 13,126 -
174,237 (74,540)
12 Intangible fixed assets
Website cost
£
Cost
At 6 April 2020 and 5 April 2021 75,840
Amortisation and impairment
At 6 April 2020 -
Amortisation charged for the year 22,981
At 5 April 2021 22,981
Carrying amount
At 05 April 2021 52,859
At 05 April 2020 75,840

Amortisation charge includes £13,215 for current year and £9,766 for 2020.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

13 Tangible fixed assets

Plant and
machinery
Fixtures, fittings
& equipment
£
£
Cost
At 6 April 2020
3,543
10,521
Additions
-
4,031
At 5 April 2021
3,543
14,552
Depreciation and impairment
At 6 April 2020
3,394
5,856
Depreciation charged in the year
37
2,090
At 5 April 2021
3,431
7,946
Carrying amount
At 5 April 2021
112
6,606
At 5 April 2020
149
4,665
Fixed asset investments
Listed
investments
Cash in portfolio
Investment in
subsidiary
£
Cost or valuation
At 6 April 2020
941,155
14,804
1
Additions
49,538
(49,538)
-
Valuation changes
161,111
-
-
Dividend and interest income
-
16,868
-
Management fees
-
(9,587)
-
Disposals
(49,672)
62,798
-
At 5 April 2021
1,102,132
35,345
1
Carrying amount
At 05 April 2021
1,102,132
35,345
1
At 05 April 2020
941,155
14,804
1
2021
Other investments comprise:
Notes
£
Investment in subsidiary
22
1		 Total
£
14,064
4,031
18,095
9,250
2,127
11,377
6,718
4,814
Total
£
955,960
-
161,111
16,868
(9,587)
13,126
1,137,478
1,137,478
955,960
2020
£
1

14 Fixed asset investments

Information on the subsidiary undertaking is disclosed in note 2 4 of the accounts.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

15
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2021
£
1,102,132
2021
£
2,600
881
3,481		 2020
£
941,155
2020
£
2,687
1,920
4,607

17 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Amounts owed to subsidiary undertakings
Accruals and deferred income		 2021
£
4,457
3,733
1
18,602
26,793		 2020
£
4,430
12,376
1
5,884
22,691

18 Retirement benefit schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £ 3,272 (20 20 : £ 5,483 ).

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
6 April 2020
£
Investment and research fund
1,115,956
Small research grant programme
47,000
1,162,956		 Movement in funds
Incoming
resources
Transfers
Balance at
5 April 2021
£
£
£
1,505
(77,861)
1,039,600
-
-
47,000
1,505
(77,861)
1,086,600		 Movement in funds
Incoming
resources
Transfers
Balance at
5 April 2021
£
£
£
1,505
(77,861)
1,039,600
-
-
47,000
1,505
(77,861)
1,086,600
1,086,600

The investment and research fund represent sums set aside by the trustees for investment s . To earn sufficent income to fund on going research in Psoriasis and Psoriatic Arthritis.

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

19 Designated funds

(Continued)

The trustees have decided that a designated fund should be allocated to grants for research. The charity operates an open application small research grant programme, with a maximum award per application of £10,000. The size of the fund allocation (£ 47 ,000) reflects the current and anticipated level of applications based on funded projects within the portfolio and that of rejected applications in the current financial year. It is anticipated that the fund will be spent within each financial year, but awards will only be made based on extensive and thorough vetting of the applications, unused funds wi l l be carried over or used for support, which the trustees proactively identify as meeting with the aims and objectives of the charity.

20 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
2021
2021
£
£
Fund balances at 5 April
2021 are represented by:
Intangible fixed assets
52,859
-
Tangible assets
6,718
-
Investments
1,137,478
-
Current assets/(liabilities)
(897,055)
1,086,600
300,000
1,086,600		 Total
Unrestricted
funds
Designated
funds
2021
2020
2020
£
£
£
52,859
75,840
-
6,718
4,814
-
1,137,478
955,960
-
189,545
(728,544)
1,162,956
1,386,600
308,070
1,162,956		 Total
2020
£
75,840
4,814
955,960
434,412
1,471,026

21 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2021 2020
£ £
Aggregate compensation 57,679 56,837

Psoriasis and Psoriatic Arthritis Alliance has licensed the use of eTips website to PAPAA Enterprises Limited a wholly owned subsidiary. This activity is within the objects of the charity and therefore considered to be primary purpose trading. At the end of the year Psoriasis and Psoriatic Arthritis Alliance owed £1 (2020: £1) to PAPAA Enterprises Limited and contributed £398 (2020: £695) towards the website.

22 Subsidiaries

Details of the Charity's subsidiaries at 5 April 2021 are as follows:

Name of undertaking Registered Nature of business Class of % Held % Held
office shares held Direct Indirect
PAPAA Enterprises Limited Acre House, 11-15 Website Licence Ordinary 100.00
William
Road,London, NW1
3ER, United
Kingdom

Issuer HW Fisher Document generated Tue, 5th Apr 2022 10:42:45 BST Document fingerprint aff97c0ad8800edc1c40024d032b87b5

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Tue, 5th Apr 2022 10:42:56 BST Document generated with fingerprint e86b501f9c2849f69de6106a83f99ab3 (217.207.100.70) Tue, 5th Apr 2022 10:42:54 BST Document generated with fingerprint 2603ab811a318db763601608ae0ff62c (217.207.100.70) Tue, 5th Apr 2022 10:42:50 BST Document generated with fingerprint aff97c0ad8800edc1c40024d032b87b5 (217.207.100.70) Tue, 5th Apr 2022 10:42:45 BST Envelope generated by Shafayat Khan (217.207.100.70)