CHARITY REGISTRATION NUMBER: 1126534 The Heaton-Ellis Trust Unaudited Financial Statements 5 April 2024 HARPER SHELDON LIMITED Chartered accountants Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL516TQ
The Heaton-Ellis Trust Flnanclal Statements Year ended 5 Aprll 2024 Page Trustees, annual report Independent examinevs report to the trustees Statement of financial activlties Statement of financial position Statement of cash flows Notes to the financial statements
Page 1 The Heaton-Ellis Trust Trustees, Annual Report Year ended 5 April 2024 Tha trustees present their report and the unaudited financial stalements of the charity for the year ended 5 April 2024. Referenco and admlnlstrative dètalls R8glstei•d charlty name The Heaton-Ellis Twst Charlty reglstrallon number 1126534 Prlncipal office Clo Camberlelgh-Hay LLP 37 Sl George's Road Chellenham GL50 3DU The trustses Mr C Cro3sl&y-Cooke Mrs S Conway Mr S P Arber Independènt examiner Mr Simon K Sheldon FCA Harp8r Sheldon Llmlted Chartered Accounlant8 Midway House Staverton Technology Park H8rrick Way, Staverton Cheltenham, GI08. GL516TQ Structura, governance and management The Trust Is a registered charlty. number 1126534. and Is constituted under a trust deed dated 22 October 2008. Th8 Truslees meet on a regular basis and annually review thè Charity agalnst the Charity Govemanca Code. At an annual finance meetlng, the Tru8leg¥ review their performance for the year and set oblecliv88 for the coming year. All trustees give thelr tlme voluntarlly and rec8ivè no remun8ratlon or other benefrts.
Page 2 The Heaton-Ellis Trust Trustees, Annual Report (contlnuedj Year ended 5 April 2024 ObJeotlve8 and actlvltles The Heaton- Ellis Trust w89 set up with a specific and focussed goal, to he5p extinguish th& ¢ruel disease - Motor Neurone Disease (MND). DavSd H8aton-Ellis fin811y lost hls fight wlth Motor Neurone DlseB8e (MND) in 2009. David had seen MND take the lives of his brother and an aunl and from the moment he was diagnosed he was detemiined to make a difference. He wanted to develop a cure for MND. Exiraordinary 8dvances in gene-hunling technology mean thal these genes can now be identified. the only limitatlon belng cost. David assembled a group of friends and together they agreed on a fund raising target and established the Heaton-Ellis Trust. Molor Neurones are responsible for activating every voluntary muscle in the human body. When they degenerate, they stop sending messages from the brain to the muscles. The muscles, through lack of stimulus. rapidly become weak and waste away. There is no specific test for Motor Neurone Dlsea58 and no effectivé tr8alment. The goal for the MND gene-huntlng programme Is to discover all the genes responsibl8 for causing MND. Once this is achieved drugs can be screened that can arrest and even reverse Molor Neurone degeneratlon. By raising the initlal target of £1 milllon, the Heaton- Ellis Trust has helped to fund the gen8-hunting initiative. Achievement8 and performftnce The charity has ralsed £117,864 during the period through collectlng donations. After meeting incidental costs of running the charlly the funding has been retained by the charity and will be pul lo good use in future perlods by 8UPPOrting the g8ne-hunting effort in the laboratory of Professor Christopher Shaw at King's College London. ResearGh has progressed to the point where a cure now seems an achievable goal. During the year a donatlon of £33,600 was made to MND A$$ociation. Flnanclal revlew During the year the charity has ra18ed funds In the reglon of c£122K. From thes8 funds incidental costs of running the Gh8rity have been met, along wlth meeting the costs of holding fund r8i8ing events. Since the constitution of the charity in 2008 the Gharity has exceeded its intllal £1 mllllon target.
Page 3 The Heaton-Ellls Trust Trustees, Annual Report (confinued) Year ended 5 Aprll 2024 Plans for future perlods The trust was created wllh the aim of raising a specific cash targ8t to fund research into Motor Neurone Disease. Tha Healon- Ellis Trust has reached tts inilial £1 mllllon taroel, however the trustees have decided that they want to continue to raisg further funds, wilhout 8 specific financial target. The Chariiy18 planning to resume its fundraislng activities In 2025 and beyond. The trustees, annual report wa5 approved on ... trustees by: and signed on behalf of the board of Mr C Crossley-cooke Trustee
Page 4 The Heaton-Ellis Trust Independent Examiner's Report to the Trustees of The Heaton-Ellis Trust Year ended 5 April 2024 I report to the trustees on my examination of the financial statements of The Heaton-Ellis Trust {'the charity,) for the year ended 5 April 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. @4,Tro MR Robert D Jordan FCCA Harper Sheldon Limited Chartered Accountants Independent Examiner Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL516TQ
Page 5 The Heaton-Ellis Trust statement of Financial Activities Year ended 5 April 2024 2024 Unre8tricted funds Total funds Total funds 2023 Nots Income and endowments Donatlons and legacie8 Investment in¢ome 119,825 388 119,825 386 7,604 67 Total Income 120,211 120,211 7,671 Expendlture Expendlture on charltable activlties Total expenditure 35,775 35,775 35,775 34.7.94 35,775 34.794 Net incomel(expendlture) and net movement In funds 84,436 84,436 (27,123) Reconclllatlon of funds Total funds brought forward Totsl fund8 carrled forward 13,403 97.839 13,403 97,839 40,526 13,403 The stalement of financial activities Includes all gains and Ios6es recognised in the year. All income and expenditure derlve from contlnulng activities. Th• notég on pages 8 to 12 form part of thgse flnanclal Statements.
Page 6 The Heaton-Ellis Trust Statement of Financial Position 5 April 2024 2024 2023 Note Current assets Cash at bank and In hand 99,798 15,269 Cradltors: amounts falling due withln one year Net current a88ets 10 1,959 97,839 97,839 97,839 1,866 13.403 13,403 13,403 Total assets le88 current Ilabllltle8 Net asséts Fund8 of the charlty Unrestricted funds 97,839 97,839 13,403 13,403 Total charlty funds 11 These financlal statements were approv8d by the board of trustees and authori88d for issue on %¥J.p.41OS., and are signed on behalfofthe board by: Mr C Cros$ley-Cooke Trustee The notès on page9 8 to 12 forni part of the89 flnanclal Statsments.
Page 7 The Heaton-Ellis Trust Statement of cash Flows Year ended 5 April 2024 2024 2023 Cash flows from opèrating actlvltles Net incomel(expendlture) 84,436 (27,123) Adjustments for Other Interest r@celvablè and similar Income Accrued expens8s Cash generated from operations (386) 93 (67) 12 84.143 (27,1781 Interest received 386 67 Net cash froml(used in) operating activities 84,529 (27,111) Net increaselldecrease) In cash and cash equlvalents Cash and cash equivalents at beglnnlng of year Cash and cash equlvalents at end of year 84.529 15,289 99,798 {27,111) 42,380 15,269 Th? nots8 on pago8 8 to 12 form part of these flnanclal statèments.
Page 8 The Heaton-Ellis Trust Notes to the Financial Statements Year ended 5 April 2024 General Infomiation The charity is a public benefit entity and a registered charity in England and Wales and Is unincorporated. The address of the prlncipal office is Clo Swanee River Llmlted, Summertown Pavilion. 18-24 Middle Way, Oxford, OX2 7LG, England. Statement of compliancg The88 financial statements have been prepared in compliance with FRS 102, 'The Flnancial Reporting Standard applicable In the UK and the Republic of Ireland,, the Slatement of Recommended Practice applicab16 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ir61and (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng pollcles Ba818 of preparatlon The flnancial statements have been prepared on the historical cost basis. as modlfied by the revaluallon of certain financial assel$ and liabilitie5 and investment properties measured at fair value through income or expenditure. The flnancial statements are prepared In sterling, which is the functional currency of the enlity. Golng concèrn The Truste8s have evaluated the charity's ability to continue and are satlsfied that it can contlnue to oper8te for the foreseeable future. Judgements and key sources of 05tlmatlon uncertalnty The pr¶tlon of the flnanclal statements requires management to make judgement5, estimatés end assumptions thal affect the amounts reported. Thèse estlmates and judgements are conlinually reviewed and are based on experience and other factors, Including expectatlons of future events that are belleved to bè reasonable under the clrcumslances. Fund accountlng Unrestricled fund8 are available for us8 at th8 discretlon of the trustees to further any of the charity'8 purposes. Designated funds are unregtricted funds earmarked by the trustees for particular future project or commltment. Restricted funds are 8ubleded to restrictions on their expendtiure declared by the donor or through the terms of an appeal, and fall into one of two 8ub-¢lasse$: restricted income funds or endowment funds.
Pag8 9 The Heaton-Ellis Trust Notes to the Flnancial Statements {contlnuod) Year ended 5 April 2024 AG¢ountlng pollcles (conllnu&d) Incomlng resourtos All incoming resources are Included in the stalement of financial aclivilies when entitlement has passed to the charity- il is probable that the economlc benefits associated with the transaction wlll flow to the charity and the amount can be rellably measured. The following specific polic18S are applied to partioular categories of income.. income from donalions or granls is recognised when there Is evid8nc8 of entitlement to the gfft, reGeipt is probable and ils amount Can be measured reliably. legacy income Is re¢ognis8d when receipt Is probabl8 and entlllement is established. income from donated goods is measured at the fair value of the goods un1888 thls is ImpraGtiGal to measure rellably, in whlch case the value Is derlved from the cost to the donor or the estimated resale value. Donated facilities and services are recognised In the accounts when recelved if the valué can be reliably measured, No amounts are included for the contrlbution of general volunteers. Income from contr8Cts for the supply of 8ervices is recognlsed with the dellvery of the contracted seNice. Thls 1$ Classified as unrestricted funds unless there is a Gontra¢lual requirement for it to b8 spent on a particular purpose and returned if unspent, in which ca88 it may b8 regarded as restrlcled. Resources oxpended Expenditure is racognised on an accruals basls as a Ilability is incurred, Expenditure includes any VAT which cannot be fully recovered, and Is classlfled undgr he8dlngs of the statement of financial activities to which It relates- expenditure on ralslng funds includgs the costs of all fundraising activilies, avents, non-charitable tradlng activities, and the salè of donated goods, expendituré on charitable activitie5 includes all costs incurred by a charity in undertaklng acllviti68 that further Its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to ¢harilabl8 a¢livities. olher expenditure includes all expenditure that is neither related to r8ising funds for the charity nor part of its expenditure on charitable activlties. AII co818 are allocated to expenditure categorles reflecting the us8 of the rosource. Dlrect costs 8ttributable to a slngle activity are allocated dlrectly to thal activity. Shared costs are apportioned b8tween the 8Ctivities thèy contribute to on a reasonable, justlflable and oonsislent basis. Flnanclal instruments A financlal asset or 8 financial Ilablllty 18 recognlsed only when the charty becomes 8 party to the contractU81 provisions of the instrument. Basic financial Instruments are initially recognised at the amount recèivable or payable including any related tr3n8gcllon costs. Current assets and current liabllltles are Subsequently measured at the cash or other consideratlon expeded to be pald or received and not discounted.
Pag8 10 The Heaton-Elli$ Trust Notès to tho Financlal Statements (conrinuedj Year ended 5 April 2024 Accountlng pollcies (¢ontlnued) Flnanclal Instruments (contlnued) Debt Instwments aro 8ub8equently measured at amortised cogt. Where investments in shares are publicly Iraded or their fair value can othemlse be measured reliably. the investment is subsequently measured at fair value with change8 in fair value r8cogni8ed in income and expenditura. All other such investments are subsequently measured at cost les8 impalrment. other finattcial instruments, Including derivatives. are inltlally recognised at fair value. unless payment for an 8888t is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, In which case the asset Is measured at the present valu8 of the tuture payments dlscounted at a mafket rate of interest for a simllar debt instrument. Other financial instruments ar& subsequently measured at fair value, wlth any change3 recognised in th8 statement of finan¢ial actlvilies, with the exception of hedging instruments in a deslgnated hedging relatlonshlp. Financial assets that ar8 measured at cost or amortised cost are reviewed for objectlve evldence of impairment at the end of each reporting date. If there Is objective evldence of impaimient, an impalrment loss Is re¢ognised under the appropriate heading in the slatemgrt of financial activities in which the initial gain was recognised. For all equity instruments regardless of slgnlfScance, and other financial assets that are individually 8lgnifi¢ant, these are assessed individually for impaiment. Other financial asset8 are either asse85ed IndividualEy or grouped on the ba8ls of slmilar credit risk chera¢teristics. Any reversals of impairment are re¢ognlsed Immediately, to the extent that the revers81 does not result in a Carrying amount of the financial asset that ex¢eeds what the carrylng amount would have bean had the Impaiment not previously been recognised. Donatlons and legacles Unrestricted Totsl Funds UnrestTlCted Total Funds Funds 2024 Funds 2023 Donallons Donations HMRC Gift Ald Rèceived 117,884 1,961 119,825 117,864 1,961 119,825 7,604 7.604 7,604 7,804 Invèstment Income Unrestri¢tad Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank Interest receivabla 386 386 67
Page 11 The Heaton-Ellis Trust Notes to the Financlal Statements (contirtu Year gnded 5 April 2024 Exp6ndlture on charitable activltl8s by fund typ6 Unrestticted Total Funds Unrestrlcted Total Fund8 Fund8 2024 Funds 2023 Charitable Activity Support costs 33,816 1,959 35,775 33,816 1.959 35,775 32,916 1,878 34,794 32,916 1.878 34,794 Exp8ndlture on charltable actlvltles by activity typo Activitles undertaken directly Support Total funds costs 2024 Total fund 2023 Charltabl8 Acllvlly Governance costs 33.816 33,816 1,959 35.775 32,916 1,878 34.794 1,959 1,959 33,816 Independent examlnatlon faeg 2024 2023 Fees payable to the Independent ex8min8r for Independent examinallon of the financial statements 216 216 Trustee ramuneratlon and expenses No remun8ration or other benefrts from employment wlth the charity or a related entity were recelved by the trustees. No trustee expensas have been incurred during the yèar. 10. Creditors: amounts falllng due within one year 2024 2023 Accruals and deferred income 1,959 1,868
Page 12 The Heaton.Ellis Trust Notes to the Financial Statements (conllnued) Yaar ended 5 April 2024 11. Analysis of Gharltable funds Unrestrlcted funds At 6 April 2023 At Income Expendllure 5 Aprll 2024 General funds 13.403 120,211 (35,775) 97.839 At 6 Aprll 2022 At Income Expendiiure 5 April 2023 General fund8 40,528 7,671 {34,794) 13,403 12. Analygls of net assets between funds Unrestricted Total Fund8 Funds 2024 Current assets Credltors less than 1 year Net assets Unrestrlcted Total Fund8 Funds 2023 Current assets Cr8ditors1938 than 1 year Net assets 15,269 (1,866) 13,403 15,269 (1,886) 13,403 13. Analysls of changes In net dèbt At At 6 Apr 2023 Cash flow8 5 Apr 2024 Cash at bank and In hand 15,269 84.529 99,798