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2022-04-05-accounts

Registered number: 06074887 Charity number: 1118192

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 9
Independent examiner's report 10 - 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14 - 26

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022

Trustees

P.H.S. Von Der Heyde, Chairman J. M. Peel C. C. Auld E.G. Hayes, Treasurer (appointed 1 March 2022)

Company registered number

06074887

Charity registered number

1118192

Registered office

30 Orange Street, London, WC2H 7HF

Accountants

Calder & Co, 30 Orange Street, London, WC2H 7HF

Bankers

Santander Business Banking, PO Box 10102, 21 Prescott Street, London, E1 8TN

Page 1

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022

The trustees present their report and financial statements for the year ended 5 April 2022.

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

a. Objectives and activities

(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.

Page 2

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

Achievements and performance

a. Review of activities

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:

Progress

During this financial year the global COVID-19 pandemic continued to impact across society and not least the activities of health-related charities. With many restrictions on movement and gatherings in place, activities and events that charitable organisations would attend or take part, were either cancelled or moved to online video involvement.

The uncertainty of restrictions and rules continues to affect the planning and implementation of strategies. At the latter end of this financial year, it is still fair to say that for charitable organisations the impact remains significant, particularly for planned activities and future aims and objectives. The subsequent uncertainty of other global issues and conflicts, with its impact on cost of living, will only add to the difficulty that charities face post-COVID. This is particularly affecting ongoing fundraising and the chance to generate new income to support the muchneeded awareness and patient support activities.

The charity and staff continued to follow Government guidelines around social distancing, mask wearing and working from home remotely. The abrupt nature of the original stay-at-home instructions of March 2020, forced a change in working and service delivery. As an agile organisation, the charity adapted and, in some instances, was able to be involved in activities that previously would have been prohibitive due to location and cost of attendance. This enforced change provided the opportunity to continue to support the charity’s constituent group, and to a wider audience. The future appears to be leaning towards hybrid events. The charity will monitor such activities and has and will continue to embrace the changing environment to best serve its constituent group.

The use of Zoom conferencing with regular staff catch-ups, which was established during the initial phases of the lockdown, has become an embedded part of the working day and a valuable aid to work practices with colleagues and external agencies.

Page 3

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

The impact on distribution continued during this financial year, as many clinics were still not seeing patients faceto-face and paper material was still not on public display. The activity began to return, but not to the previous levels seen before the pandemic. The impact on the distribution of the bi-annual Skin ‘n’ Bones Connection journal continued, with distribution still limited to subscribers and downloads via the PAPAA shop.

Key activities

Although the trustees’ plans were interrupted, where activities could be progressed there has been substantial advancement. The first phase was the completion to facilitate the process of receiving donations. This included an obvious ‘donate’ button on all pages on the website, allowing people to make direct donations. These can be anonymous, named or as a dedicated page for an event with donations being paid directly to the charity. It also allows GiftAid to be added to donations.

In the donation pages the presentations have been enhanced with images and further links to other ways to support PAPAA. The inclusion of ‘widgets’ to make click through easier has also been added, as has the Fundraiser Regulator logo, which provides details of our ethical approach to fundraising. Further ‘widgets’ were explored including a link to receive donations from Amazon (called Amazon Smile) and eBay for charity as a nominated good cause following a listing. Donations via PayPal Giving, were received and interest in promotional awareness items, such as our magazine and wristbands etc. have also increased.

As part of the process of raising the charity’s identity as a ‘good cause’ and to support and provide messages that people will identify with, we’ve reviewed our impact report of achievements, as follows:

• The most comprehensive psoriatic disease specific website in the UK, with nearly 10,000 free to access items and pages.

• A range of 23 printed leaflets on the core aspects of psoriasis and psoriatic arthritis, with more than 200,000 distributed free in the last 10-years.

• Engaged and represented patient views with UK regulators including NICE, SMC, AWMSG and the MHRA to provide input into new drug appraisals and regulatory affairs.

• Provided anonymised access to peer-support to those often desperate for someone to listen and hear their voice.

Page 4

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

The next phase of activity was to develop a short promotional video, which was embeded in the main donation landing page and posted across our social media pages and YouTube channel.

A campaign slogan was developed to provide a simple message strapline to convey what PAPAA does under the words ‘CARE - CAUSE - CURE’

Further work to support that activity, has been developed with the ambition include:

Differential and collaborative activities

In discussion with colleagues the charity has explored defining a clear role of how best it can support work that can complement others working in similar or associated conditions. This has included exploring a number of ideas of how to develop collaborations or joint work with other groups.

Building on the becoming a partner in the Connect Immune Research 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, for the charity, this was seen as a first step to achieving an effective collaborative approach. Further work has taken place to involve the charity in wider activities.

Psoriasis in Practice

The charity’s online course, now in version 7, was once again updated and fully reviewed by Julie Van Onselen and reaccredited by the Royal College of Nursing until 29 April 2022. In the review the following feedback was provided. “This is an excellent educational package that represents exemplary educational practices and encourages proactive engagement and learning. It is reapproved for accreditation.”

Research funding

Supporting well run research projects under a small grants scheme continued, those already funded projects were severely delayed by re-deployment of researchers to work on the COVID-19 virus. No cost extensions were granted to aid the recipients to complete and publish their work. Enquiries for funding continued to be received and the trustees applied their usual rigorous standards and tests to decide whether the applications merited a grant award.

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

Page 5

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

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. Further support of relevant research will continue.

Trusted information provider

The Patient Information Forum (PIF) is the UK membership organisation and network for people working in health information and support. As the independent voice of UK health information, PIF provides an accredited process to recognise trusted information providers, called the PIF TICK. Full accreditation was re-awarded to PAPAA, in October 2021 to certify that charity had met the requirements of the PIF TICK quality mark for health information.

Ethical fundraising

As part of awareness and fundraising development, the charity continues to be 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.

External activities

Collaboration and involvement with other organisations and external agencies are seen by the charity trustees 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. Staff continue to respond to requests for support and to provide the patient lived-experience of psoriasis and psoriatic arthritis.

Data and evidence gathering

An ongoing process of data and evidence 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 AllWales Medicines Strategy Group (AWMSG) to drug appraisals for new medicines; the process 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.

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

Page 6

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

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 patient-centred approach to provide support based on need. We have an active user group that provides input and support.

Core work

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 include:

Public benefit

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

Privacy and security

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 out of the services provided within the NHS framework. This work, although, often intense and indepth, 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. The charity maintains the highest level of awareness towards the well-being, privacy and security of the information provided by those it engages with, as set out in the General Data Protection Regulation (GDPR).

Conclusion

In what continued to be a difficult year for society, the charity was able to continue to provide a full range of support and services, not only to its constituent group, but also to the wider public. The impact and curtailing of plans on income generation and other activities saw a lower than expected income stream, whilst more demand for support continued. The charity was able to use its reserves to continue to provide the support and services to all those who needed them. It is clear that COVID-19 has had a detrimental effect on the global economy, this will further continue to impact the work of the charitable sector, where income generation may not be able to match the growing needs of those who need their support.

Page 7

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

The trustees and those involved with the charity, will aim to provide all that is possible to continue to help those affected by psoriasis and psoriatic arthritis, particularly during these uncertain and challenging times.

Financial review

a. Reserves policy

In line with the guidance set out by the Charities Commission the Trustees have developed the following reserves policy to inform donors, funders and other stakeholders on how funds are being used to support the charity’s aims and objectives.

The charity has previously used funds to generate income and also drawn on those funds to support its activities. A low risk balanced approached has been used to achieve this. The fund is now reducing and the Trustees are actively developing activities to generate new streams of income, whilst mindful of the need to use existing funds wisely, until such activities are able to support the work that is needed to support the charity’s constituent group.

The cost of running the charity’s activities is estimated to be approximately £300,000 per annum. Given that the charity provides its services and support free of charge, with only a small cost to cover the subscription to receive the journal via the post, reliance on the reserve is vital in the current climate to support activities.

Voluntary income through donations, regular gifts and legacies is a small part of the charity’s income, therefore until new and regular income streams have been developed it is anticipated that further reliance on the reserve will be vital to maintain the current activities and the development of new much needed initiatives.

The current funds held by the charity at the end of the financial year are £1,206,575. Prudent management will continue in order to generate income, both to support daily activates with some provision to release funds to support the research activities and provide small grants to researchers working in the areas of ongoing interest to the Trustees. The allocation for research is anticipated to be around £60,000 per annum, dependent on applications being of a high standard and likely to provide meaningful results that add scientific value.

This policy is regularly monitored and reviewed for effectiveness in the light of the changing funding and financial climate and other risks by the Board of Trustees. It is adjusted accordingly as plans, opportunities and income streams emerge.

b. 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 £60,000 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 carried 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.

Page 8

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

Structure, governance and management

a. Constitution

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:

P.H.S. Von Der Heyde (Chairman) J. M. Peel C. C. Auld E.G. Hayes (Treasurer) (From March 2022) B. Lindsey (Deceased March 2021)

This report was approved by the Trustees, on 23 January 2023 and signed on their behalf by:

Paul v.der Heyde

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

P.H.S. Von Der Heyde

Page 9

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2022

Independent examiner's report to the Trustees of Psoriasis and Psoriatic Arthritis Alliance (the 'company')

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the company for the year ended 5 April 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the 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 Companies Act 2006 ('the 2006 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 the charitable company's financial statements carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Page 10

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022

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: A Koupland ACA

Dated: 23 January 2023

Page 11

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2022

Unrestricted
funds
Note
2022
£
Income from:
Donations and legacies
2
13,226
Investments
3
17,463
Total income
30,689
Expenditure on:
Raising funds
5
10,556
Other charitable activities
249,009
Total expenditure
4
259,565
Net expenditure before investment gains
(228,876)
Net gains / (losses) on investments
10
48,851
Net expenditure before other recognised gains and
losses
(180,025)
Net movement in funds
(180,025)
Reconciliation of funds:
Total funds brought forward
1,386,600
Total funds carried forward
1,206,575		 Total
funds
2022
£
13,226
17,463
30,689
10,556
249,009
259,565
(228,876)
48,851
(180,025)
(180,025)
1,386,600
1,206,575		 Total
funds
2021
£
10,343
20,836
31,179
9,587
280,255
289,842
(258,663)
174,237
(84,426)
(84,426)
1,471,026
1,386,600

The notes on pages 14 to 26 form part of these financial statements.

Page 12

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE (A company limited by guarantee) REGISTERED NUMBER: 06074887

BALANCE SHEET AS AT 5 APRIL 2022

Note
Fixed assets
Intangible assets
14
Tangible assets
15
Investments
16
Current assets
Debtors
17
Cash at bank and in hand
Creditors:amounts falling due within one
year
18
Net current assets
Net assets
Charity Funds
Unrestricted funds
19
Total funds		 £
3,481
90,884
94,365
(7,813)		 2022
£
42,287
5,039
1,072,697
1,120,023
86,552
1,206,575
1,206,575
1,206,575		 £
3,481
212,857
216,338
(26,793)		 2021
£
52,859
6,718
1,137,478
1,197,055
189,545
1,386,600
1,386,600
1,386,600

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 23 January 2023 and signed on their behalf, by:

Paul v.der Heyde

................................................ P.H.S. Von Der Heyde

The notes on pages 14 to 26 form part of these financial statements.

Page 13

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Psoriasis and Psoriatic Arthritis Alliance meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

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

The charity is a company limited by guarantee and has no share capital. Its registered office is 30 Orange Street, London WC2H 7HF. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

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

1.3 Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future 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.

1.4 Income

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

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Dividends are recognised once the dividend has been declared and notification has been received by our investment advisor of the investment portfolio.

Page 14

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1. Accounting policies (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.

Amortisation is provided on intangible fixed assets at rates calculated to write off the cost of each asset, less their estimated residual value, over their expected useful lives on the following bases:

Website cost

1.7 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Page 15

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

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 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.13 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.14 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 16

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1. Accounting policies (continued)

1.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

1.16 Critical accounting estimates and areas of judgment

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.

2. Income from donations and legacies

Income from donations and legacies
Unrestricted
funds
2022
£
Donations
13,226
Total 2021
10,343		 Total
funds
2022
£
13,226
10,343		 Total
funds
2021
£
10,343

Page 17

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

3. Investment income

3.
Investment income
Unrestricted
funds
2022
£
Income from listed investments
16,924
Interest receivable
539
17,463
Total 2021
20,836
4.
Analysis of charitable expenditure
Charitable
expenditure
2022
£
Raising funds:
Investment management (see note 5)
10,556
Subtotal raising funds
10,556
Charitable activities:
Support costs (see note 8)
200,995
Direct costs (see note 6)
32,490
Grant funding of activities (see note 7)
-
Subtotal charitable activities
233,485
Expenditure on governance (see note 9)
15,524
259,565
Total 2021
289,842		 Total
funds
2022
£
16,924
539		 Total
funds
2021
£
16,868
3,968
17,463
20,836
Total
2022
£
10,556		 20,836
Total
2021
£
9,587
10,556
200,995
32,490
-
233,485
15,524
259,565
289,842		 9,587
217,279
26,872
8,500
252,651
27,604
289,842

Page 18

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

5. Raising funds

5.
Raising funds		 5.
Raising funds
Unrestricted
funds
2022
£
Investment management
10,556
Total 2021
9,587
6.
Direct costs
Information
and Support
Services
£
Medical consultancy
20,000
Printing and stationery
12,490
Contribution to PAPAA Enterprises Limited
-
32,490
Total 2021
26,872
7.
Grants payable
The University of Liverpool
Total 2021		 Total
funds
2022
£
10,556
9,587
Total
2022
£
20,000
12,490
-
32,490
26,872
Total
2022
£
-
8,500		 Total
funds
2021
£
9,587
9,587
Information
and Support
Services
£
20,000
12,490
-
32,490
26,872		 Total
2021
£
20,303
6,231
338
26,872
Total
2021
£
8,500

Page 19

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

8. Support costs

Support costs Support costs
Information
and Support
Services
£
Staff costs
149,091
Depreciation
12,251
Rent and rates
24,185
IT consultancy
8,866
Postage
2,888
Telephone and fax
821
Other expenses
905
Subscriptions
1,988
Training costs
-
200,995
Total 2021
217,279		 Total
2022
£
149,091
12,251
24,185
8,866
2,888
821
905
1,988
-		 Total
2021
£
146,257
25,108
24,010
12,359
4,563
2,352
926
504
1,200
200,995
217,279		 200,995
217,279		 217,279

The 2021 depreciation charge of £25,108 includes an amount of £9,766 that related to the 2020 depreciation charge of charities intangible fixed assets

During the year ended 5 April 2022, the company incurred the following Governance costs:

9. Governance costs

Governance costs
Unrestricted
funds
2022
£
Accountancy fees
3,600
Legal and professional
10,497
Insurance
1,427
15,524		 Total
funds
2021
£
2,900
23,419
1,285
27,604

Page 20

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

10. Net gains / (losses) on investments

Revaluation of investments
Gain / (loss) on sale of investments
Total		 2022
£
36,882
11,969
48,851		 2021
£
161,111
13,126
174,237

11. Average number of employees

The average number of persons employed by the company during the year was as follows:

Administration

as follows:
2022 2021
No. No.
3 3

Two employees received emoluments totalling £60,033. This includes national insurance and pension contributions. No other employees received emoluments exceeding £50,000.

12. Independent examiner

The Independent Examiner's remuneration amounts to an Independent Examination fee of £3,600 (2021 - £2,900).

13. Trustees

During the year no trustees (or any persons connected with them) received any remuneration or reimbursed expenses. (2021: £ nil)

Page 21

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

14. Intangible fixed assets

Intangible fixed assets
Cost
At 6 April 2021 and 5 April 2022
Amortisation
At 6 April 2021
Charge for the year
At 5 April 2022
Carrying amount
At 5 April 2022
At 5 April 2021		 Website
Costs
£
75,840
22,981
10,572
33,553
42,287
52,859

15. Tangible fixed assets

Tangible fixed assets
Cost
At 6 April 2021 and 5 April 2022
Depreciation
At 6 April 2021
Charge for the year
At 5 April 2022
Net book value
At 5 April 2022
At 5 April 2021		 Plant and
machinery
£
3,543
3,431
28
3,459
84
112		 Fixtures and
fittings
£
14,552
7,946
1,651
9,597
4,955
6,606		 Total
£
18,095
11,377
1,679
13,056
5,039
6,718

Page 22

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

16. Fixed asset investments

Fixed asset investments
Market value
At 6 April 2021
Additions
Disposals
Dividends and other income from investments
Valuation changes
Management fees
Withdrawal of cash funds
At 5 April 2022
Market value
At 6 April 2021
Disposals
Dividends and other income from investments
Valuation changes
Management fees
Withdrawal of cash funds
At 5 April 2022		 Listed
securities
Cash in
portfolio
£
£
1,102,132
35,345
10,503
(10,503)
(82,253)
94,222
-
16,924
36,882
-
-
(10,556)
-
(120,000)
1,067,264
5,432
Sub total
brought
forward
investment in
subsidiary
£
£
1,137,477
1
11,969
-
16,924
-
36,882
-
(10,556)
-
(120,000)
-
1,072,696
1		 Sub total
carried
forward
£
1,137,477
-
11,969
16,924
36,882
(10,556)
(120,000)
1,072,696
Total
£
1,137,478
11,969
16,924
36,882
(10,556)
(120,000)
1,072,697

Subsidiary undertakings

The following were subsidiary undertakings of the company:

Name
Holding
PAPAA Enterprises Limited
100%
Name
Business
PAPAA Enterprises Limited
Website Licence		 2022
2021
£
£
1
1
Registered office
Calder & Co
30 Orange Street
London
WC2H 7HF		 2021
£
1

Page 23

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

17. Debtors

Debtors
Other debtors
Prepayments and accrued income		 2022
£
2,600
881
3,481		 2021
£
2,600
881
3,481

18. Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Amounts owed to subsidiary undertaking
Accruals and deferred income		 2022
£
223
3,989
1
3,600
7,813		 2021
£
3,733
4,457
1
18,602
26,793

19. Statement of funds

Statement of funds - current year

Statement of funds - current year
Balance at
6 April 2021
£
Designated funds
Investment and research fund
1,039,600
Small research grant programme
47,000
1,086,600
General funds
General Funds
300,000
Total Unrestricted funds
1,386,600
Total of funds
1,386,600		 Income Expenditure
£
£
-
-
-
-		 Gains/
(Losses)

£
-
-		 Balance at
5 April 2022
£
1,039,600
47,000
-
30,689
30,689
30,689		 -
(259,565)
(259,565)
(259,565)		 -
48,851
48,851
48,851		 1,086,600
119,975
1,206,575
1,206,575

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

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

Page 24

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

19. Statement of funds (continued)

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 will be carried over or used for support, which the trustees proactively identify as meeting with the aims and objectives of the charity.

Statement of funds - prior year

Designated funds
Investment and research
fund
Small research grant
programme
General funds
General Funds
Total Unrestricted funds
Total of funds		 Balance at
6 April 2020
£
1,115,956
47,000
1,162,956
308,070
1,471,026
1,471,026		 Income
£
1,505
-
1,505
29,674
31,179
31,179		 Expenditure
£
-
-
-
(289,842)
(289,842)
(289,842)		 Transfers
in/out
£
(77,861)
-
(77,861)
77,861
-
-		 Gains/
(Losses)
£
-
-
-
174,237
174,237
174,237		 Balance at 5
April 2021
£
1,039,600
47,000
1,086,600
300,000
1,386,600
1,386,600

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Analysis of net assets between funds - current year
Unrestricted
funds
2022
£
Intangible fixed assets 42,287
Tangible fixed assets 5,039
Fixed asset investments 1,072,697
Current assets 94,365
Creditors due within one year (7,813)
1,206,575

Page 25

PSORIASIS AND PSORIATIC ARTHRITIS ALLIANCE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

20. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Analysis of net assets between funds - prior year
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
21.
Related party transactions
Remuneration of key management personnel
2022
£
Aggregate compensation
60,033		 Unrestricted
funds
2021
£
52,859
6,718
1,137,478
216,338
(26,793)
1,386,600
2021
£
57,679

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 (2021: £1) to PAPAA Enterprises Limited and contributed £398 (2021: £398) towards the website.

Page 26