ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Myrovlytis Trust
(A company limited by guarantee) Charity registration number: 1122073 Company registration number: 06369701
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF
MYROVLYTIS TRUST
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 19 |
MYROVLYTIS TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees Morris Saleh (resigned 14 July 2022) Vinaya Paladugulavenkata (resigned 14 July 2022) Dimitris Panagopoulos Dr Timothy Koder (appointed 12 October 2021) Amit Bhagwat (appointed 24 October 2021) Monika Waller (appointed 4 November 2021 and resigned 30 June 2022) Charity Registration 1122073 Number Company Registration 06369701 Number The charity is incorporated in England. Registered Office 26 Cadogan Square London SW1X 0JP Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF
Page 1
MYROVLYTIS TRUST
TRUSTEES' REPORT
We present the annual report together with the financial statements of the charitable company for the year ended 30 September 2022.
Structure, governance and management
Nature of governing document
Myrovlytis Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Organisational structure
The management of the company is the responsibility of the Trustees who are appointed under the terms of the Articles of Association. Trustees may delegate Day to Day management to staff while retaining overall governance control.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Objectives and activities
Objects and aims
The charities objectives (the Objects) are:
• The advancement and promotion of research into rare disorders in order to better understand, diagnose, prevent, cure and relieve conditions (including but not limited to the rare genetic disorder Birt-Hogg-Dubé syndrome and the rare cancer osteosarcoma) and the free dissemination of the results of such research to the public.
• The advancement of education of the public in medical and molecular genetics.
Our Mission and Vision
The Myrovlytis Trust’s mission is to transform the outlook for rare conditions. With an initial focus on Birt-Hogg-Dubé syndrome and osteosarcoma , the trust strategically funds research directed towards new treatments. We want to ensure that patients gain access to the same state-of-the-art technologies, breakthroughs and therapies as those with more common disease.
We will do this by driving research, providing support and improving outcomes for patients and their families affected by rare conditions.
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
MYROVLYTIS TRUST
TRUSTEES' REPORT
Achievements and performance
A Message from our Trustees
This message marks a year since a new team of trustees and staff began to rejuvenate work of the Myrovlytis Trust and the first full year while I have been chairing our board meetings. After hiatus of several years, the trust is progressing under the new team of trustees and staff, adhering to the best standards of charity governance and funding of research into rare diseases. The trust has transitioned to a new board and a well-organised cycle of board activities that is not only ensuring timely and appropriate regulatory reporting but is also improving overall traction the organisation has had with patient, clinical and research communities, consciously working to engage across the world, bring synergies to scientific advancements and disseminate research and wider societal awareness in ways that are inclusive and accessible. The charity has simplified and clarified its governing documents and structure, while also clarifying and broadening its objects to cover rare conditions more broadly, including, but not limited to, the rare genetic disorder BHDS and the rare cancer – osteosarcoma. It is thus a template for work on rare conditions for which mainstream understanding and support has historically been limited and inconsistent, while driving synergies across related conditions and across classes of rare conditions.
With five research grants approved this year, I am looking forward, in coming years, to being able to reflect not only on the progress made through our research funding directly, but also on the collaborations, and on the networking and force-multiplying effect we are able to achieve in addressing rare conditions – their understanding, their alleviation, developing communities and accessible knowledge bases that is supportive to the many patients that have felt isolated in the past, and building cooperation that scales up the overall impact our efforts are making on the way rare conditions are addressed around the world. As someone who has consciously identified himself as a World Citizen and worked across borders on issues impacting the world at large, and on developing good practices, standards and exemplars with potential to benefit the wider world, I take great pride in work of the Myrovlytis Trust. As I have noted in my concluding remarks before, with support of a talented international team of advisors, trustees and staff, and with multiplicative effect of our resources and networks into hard work of talented researchers and science communicators, I look forward to seeing the trust leave a lasting legacy for the world.
A Message from our CEO
In 2021/22 we have made great strides as a Trust towards our ambitious goals. Having re-established connections with the Birt-Hogg-Dubé (BHD) community, we set about hosting the first BHD Symposium in over 6 years, funding new research streams, forming partnerships and providing vital support for the community. This year we launched a patient-led registry; the BHD Syndrome International Registry (BIRT), which aims to provide data to inform much needed consensus guidelines on diagnosis and management of the condition, as well as providing a platform for future research and potential trials of new therapies.
Page 3
MYROVLYTIS TRUST
TRUSTEES' REPORT
Our work in the field of osteosarcoma continues at pace, with the launch of osteosarcomanow.org and a dedicated clinical trials database, specially curated for patients and loved ones affected by this rare cancer. We have forged new collaborations and partnerships, funded promising pre-clinical research and remain deeply committed to making things better in the field.
We have established a science communication training programme, for PhD students in the fields of BHD or osteosarcoma, providing vital communication skills to enable meaningful dialogue with a variety of audiences. The success of this pilot year has convinced us to continue and expand our efforts, in doing so raising awareness of rare conditions and enthusing the next generation of researchers.
Key to all our activities this year has been the formation of partnerships and collaborations. With our friends at the VHL (the Von Hippel–Lindau genetic disorder) Alliance and HLRCC (hereditary leiomyomatosis (development of a type of smooth muscle nodules) and renal cell cancer) Family Alliance, we have formed the hereditary kidney cancer synergy group. We have plans to do the same for cystic lung disease and have so many wonderful connections with other bone cancer organisations flourishing. We intend to build upon these partnerships in the near future.
The Trust’s exciting journey continues at pace, and we look forward to funding cutting edge research and welcoming new partners as we go. We are constantly inspired by the communities we serve, who drive us forward and are true partners in everything we do.
Review of activities
Research Funding
The start of the 2021/22 financial year was marked by the announcement of our grant awards. Following external peer review and grant panel evaluation, 5 research grants were approved for funding, spanning BHD and osteosarcoma research.
Our 2022 funding round attracted 17 applications, an increase of 5 over 2021 applications. In future years we aim to receive at least 20 applications per year.
The trust has committed to funding a total of £1,041,039 for these 5 grants, which will be disbursed over the period of each grant which ranges from 1 year to 5 years.
Further information on each of the 5 grants can be found by visiting www.myrovlytistrust.org/currently-funded-research/
The Patient Voice
Working in partnership with patient groups is very important to the Trust, and everything we do is informed by the patient voice. To facilitate this, we have established a Patient Advisory Board, who will provide strategic guidance, grant review and help with specific projects (for example website design and patient registry progress). The Patient Advisory Board also acts as ambassador for the Trust, raising awareness among other patients and the public.
Page 4
MYROVLYTIS TRUST
TRUSTEES' REPORT
Science communication training
In March 2022 we established our first Science Communication Training programme for PhD students in our fields (BHD or osteosarcoma). This course was hosted by an expert in public engagement training and took place over 4 weeks online.
Following the success of this initial programme, we intend to run our course every year and expand significantly so the maximum number of PhD students in rare disease and rare cancer research can benefit from gaining this important skillset.
BHD Symposium
In October 2021, we hosted the first BHD Symposium in over 6 years. This was held online and attracted 466 registered attendees. Over two days, patients, researchers and clinicians came together to discuss the latest research, personal experiences of BHD, raising awareness and future prospects in a truly interactive and inspiring event. Many collaborations and partnerships have subsequently been formed, and we see the annual symposium as a key way that the Trust can move the field forward towards new therapies and eventually a cure for BHD.
Osteosarcoma Now
Our work in osteosarcoma commenced in 2021, with many months dedicated to talking with experts, patients, and other charities. There is amazing work ongoing in research and support, and we refined our goals to reflect the unique work we can offer to advance the field.
Osteosarcoma Now (OSN) is the website (with name chosen by our patient partners) dedicated to providing information, guidance, clear explanations of the science and signposting to resources. The aim of everything we produce is to make a difficult and sometimes confusing time a little easier for patients and families. We have instigated weekly blog posts, interviews with other organisations and researchers and publish engaging and helpful content for the osteosarcoma community. Our audience is growing, and we are working with several other organisations to raise our profile in the field.
Osteosarcoma Clinical Trials Database
At the heart of the new Osteosarcoma Now website is the first international, curated clinical trials database to guide patients and their loved ones through possible treatment options.
We have devised a strategy for further development and promotion of this vital resource, ONTEX. In 2023 there will be several new developments to both aid the navigation of the database and to provide a more visually appealing interface.
Page 5
MYROVLYTIS TRUST
TRUSTEES' REPORT
Facts and Figures
• The number of subscribers to our newsletters has increased from 350 in October 2021 to 525 in September 2022, reflecting our increased reach in both patient and research communities.
• Our BHD Meet the Experts online events regularly attract an audience of 100 (our current capacity limit).
• We maintain twitter accounts for the Myrovlytis Trust, BHD Foundation and Osteosarcoma Now, a Facebook page for the BHD Foundation and a LinkedIn profile for the Myrovlytis Trust. In 2022 we have increased our followers from 1500 to 1977 across these platforms.
• We monitor the number of patient enquiries received, and track if we were able to find the appropriate information for patients. We receive on average 15 requests for help per week.
Financial review
We take great consideration in to how we spend every penny to ensure we have the required funds to meet our priorities and budget. There has been a steady income of donations over the past year, and we are looking at new ways of raising funds for the future.
Our biggest long-term financial commitment for 2021/22 has been funding grants.
We moved into our second year of grant funding after a successful funding round in 2020/21. This is reflected in the grant expenditure within this year’s accounts as the first payments are made for the 2021 funding round.
The expenditure for grants will continue to increase year-on-year as we fund more research into the rare conditions we support. This is a major priority for the Trust and identifies the success of our partnership working since we introduced a new staffing team in 2021. We anticipate part funding projects with our partners and collaborators in the future.
Policy on reserves
The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three to six months of operational costs.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 6
MYROVLYTIS TRUST
TRUSTEES' REPORT
Statement of Responsibilities
The Trustees (who are also the directors of Myrovlytis Trust for the purposes 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the Trustees of the charity on 15 March 2023 and signed on its behalf by:
Amit
Amit (Mar 20, 2023 11:50 GMT)
......................................... Amit Bhagwat Trustee
Page 7
MYROVLYTIS TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MYROVLYTIS TRUST
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 September 2022 which are set out on pages 9 to 19.
Responsibilities and basis of report
As the charity’s Trustees of Myrovlytis Trust (and also 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 Myrovlytis Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 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.
Independent examiner’s statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Myrovlytis Trust as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts 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)].
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.
...................................... G W Schulz ACMA Independent Examiners Ltd
15 March 2023
Page 8
MYROVLYTIS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 342,308 Total income 342,308 Expenditure on: Raising funds 4 28,800 Charitable activities 5 303,080 Total expenditure 331,880 Net income 10,428 Net movement in funds 10,428 Reconciliation of funds Total funds brought forward (1,754) Total funds carried forward 14 8,674 |
Total 2022 £ 342,308 342,308 28,800 303,080 331,880 10,428 10,428 (1,754) 8,674 |
Total 2021 £ 159,043 |
|---|---|---|
| 159,043 | ||
| 8,100 137,232 |
||
| 145,332 | ||
| 13,711 | ||
| 13,711 (15,466) |
||
| (1,755) |
The notes on pages 11 to 19 form an integral part of these financial statements. Page 9
MYROVLYTIS TRUST
REGISTERED NUMBER: 06369701 BALANCE SHEET AS AT 30 SEPTEMBER 2022
| Note Fixed assets Intangible assets 9 Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets/(liabilities) Net assets/(liabilities) Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 14 |
2022 £ 5,473 1,683 7,156 1,896 6,414 8,310 (6,792) 1,518 8,674 8,674 8,674 |
2021 £ 6,568 1,284 |
|---|---|---|
| 7,852 | ||
| 809 2,594 |
||
| 3,403 (13,010) |
||
| (9,607) | ||
| (1,755) | ||
| (1,755) | ||
| (1,755) |
For the financial year ending 30 September 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 9 to 19 were approved by the Trustees, and authorised for issue on 15 March 2023 and signed on their behalf by:
Amit
Amit (Mar 20, 2023 11:50 GMT) ......................................... Amit Bhagwat Trustee
.........................................
The notes on pages 11 to 19 form an integral part of these financial statements. Page 10
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Myrovlytis Trust 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 notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 11
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 12
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Other intangible asset
Amortisation method and rate
10% on cost
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Computer equipment
Depreciation method and rate 25% on cost
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
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.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Page 13
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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.
3 Income from donations and legacies
| Donations and legacies; Donations Grants, including capital grants; Government grants |
Unrestricted funds General £ 342,308 - 342,308 |
Total 2022 £ 342,308 - 342,308 |
Total 2021 £ 152,168 6,875 |
|---|---|---|---|
| 159,043 |
4 Expenditure on raising funds
a) Costs of generating donations and legacies
| Unrestricted funds General £ Fundraising consultancy 28,800 |
Total 2022 £ 28,800 |
Total 2021 £ 8,100 |
|---|---|---|
Page 14
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
5 Expenditure on charitable activities
| Note Patient advocacy Rates Advertising Computer and website Printing, postage and stationery Telephone and internet Insurance Subscriptions Recruitment Professional fees Staff training and expenses Travel Accountancy fees Bank charges and interest Sundry expenses Independent examination Depreciation, amortisation and other similar costs Grant funding of activities 6 Staff costs 8 |
Unrestricted funds General £ 458 9,180 1,289 18,579 172 363 937 485 - 18,858 6,833 4,877 1,970 260 112 1,320 1,878 66,723 168,786 303,080 |
Total 2022 £ 458 9,180 1,289 18,579 172 363 937 485 - 18,858 6,833 4,877 1,970 260 112 1,320 1,878 66,723 168,786 303,080 |
Total 2021 £ 10,883 - - 9,882 10 - 774 106 1,284 4,955 256 - 2,036 412 - 1,320 1,523 - 103,791 |
|---|---|---|---|
| 137,232 |
Page 15
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
6 Grant-making
Analysis of grants
| Analysis Grants |
Grants to institutions 2022 £ 2021 £ 66,723 - |
|---|---|
7 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2022 £ 153,393 11,740 3,653 168,786 |
2021 £ 95,857 5,800 2,134 |
|---|---|---|
| 103,791 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Staff | 2022 No 4 |
2021 No 4 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
Page 16
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
9 Intangible fixed assets
| Cost At 1 October 2021 At 30 September 2022 Amortisation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 10 Tangible fixed assets Cost At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 |
Other intangible asset £ 10,947 10,947 4,379 1,095 5,474 5,473 6,568 Computer equipment £ 2,094 1,182 3,276 810 783 1,593 1,683 1,284 |
Total £ 10,947 |
|---|---|---|
| 10,947 | ||
| 4,379 1,095 |
||
| 5,474 | ||
| 5,473 | ||
| 6,568 | ||
| Total £ 2,094 1,182 |
||
| 3,276 | ||
| 810 783 |
||
| 1,593 | ||
| 1,683 | ||
| 1,284 |
Page 17
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
11 Debtors
| 11 Debtors | ||
|---|---|---|
| Prepayments 12 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals |
2022 £ 1,896 2022 £ 4,515 - 2,277 6,792 |
2021 £ 809 |
| 2021 £ 9,785 171 3,054 |
||
| 13,010 |
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £3,653 (2021 £2,134).
14 Funds
| 14 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Unrestricted funds General General Funds |
Balance at 1 October 2021 £ (1,754) Balance at 1 October 2020 £ (15,466) |
Incoming resources £ 342,308 Incoming resources £ 159,043 |
Resources expended £ (331,880) Resources expended £ (145,332) |
Balance at 30 September 2022 £ 8,674 |
| Balance at 30 September 2021 £ (1,755) |
Page 18
MYROVLYTIS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
15 Analysis of net assets between funds
| Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total net assets Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 5,473 1,683 8,310 (6,792) 8,674 Unrestricted funds General £ 6,568 1,284 3,403 (13,010) (1,755) |
Total funds at 30 September 2022 £ 5,473 1,683 8,310 (6,792) |
|---|---|---|
| 8,674 | ||
| Total funds at 30 September 2021 £ 6,568 1,284 3,403 (13,010) |
||
| (1,755) |
Page 19