#
##
|Honorary|President|President|John Griffin|||||
|---|---|---|---|---|---|---|---|
|Trustees|||Professor Robin Kennedy||||MBBSFRCS —Chair|
||||Mr Bruce Mauleverer|||QC|FCIArb MA —Vice Chair|
||||Ms Kate Forster Chartered
FCIPD|||||
||||Professor Anthony||Goldstone CBEFRCP|||
||||Dr Gavin Jell MSc|PhD PG Cert Ed||||
||||Mr Mark (Bertie) Leigh|||||
||||Professor Vivek Mudera
PhD|||||
||||Ms Bonella Ramsay|||||
||||Mr Hugo Robinson||MA FCA - Treasurer|||
|Company|number||03445616|||||
|Charity number|||1129348|||||
|Principal|address|and|Northwick
Park and||St Mark's Hospitals|||
|registered|office||YBlock|||||
||||Wafford Road|||||
||||Harrow|||||
||||HA1 3UJ|||||
|Auditor|||Knox Cropper LLP|||||
||||65/68 Leadenhall|Street||||
||||London|||||
||||EC3A 2AD|||||
|Bankers|||Lloyds Bank PLC|||||
||||286-288 Station Road|||||
||||Harrow|||||
||||HA1 2EB|||||
|Solicitors|||Bates Wells|||||
||||10Queen Street Place|||||
||||London|||||
||||EC4R 1BE|||||
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##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021
f|2022
f|2021
f|
|Fixed Assets|||||||||
|Tangible Assets||||9|7,041,530|7,092,830|7,041,530|7,092,830|
|Intangible
Assets||||10|5,000|5,000|||
|Investments
in Subsidiaries|||||||5,000|5,000|
|Investments||||12|753,904|891,723|753,904|891,723|
||||||7800434|7989553|7800434|7989553|
|Current Assets|||||||||
|Debtors||||13|4'l2,805|241,256|442,805|241,256|
|Cash at Bank and in||Hand|||710,119|462,352|709,536|337,499|
||||||1152924|703608|1 152 341|578 755|
|Creditors: Amounts||Falling Due|||||||
|Within One Year||||14|(2,027,760)|(840,894)|(2,027,760)|(840,894)|
|Net Current Assets|||||874 836|137286|875'l19|262 139|
|Total Assets Less|Current Liabilities||||6,925,598|7,852,267|6,925,015|7,727,414|
|Creditors: Amounts||Falling Due After|than||||||
|One Year||||15|(2,000,807)|(1,961,549)|(2,000,807)|(1,961,549)|
||||||4924 791|5890718|4924 208|5765 865|
|Income Funds|||||||||
|Restricted
Funds||||17|137,045|171,157|137,045|171,157|
|Designated
Funds||||18|||||
|General
Unrestricted||Funds||19|4,784,954|5,654,634|4,787,163|5,594,708|
|TotaICharity
Funds|||||4921 999|5 825 791|4 924 208|5 765 865|
|Minority Internet|Share ofSubsidiary||Net||||||
|Assets||||16|2,792|64,927|||
|TotalFunds|||||4 924 791|5890718|4 924 208|5 765 865|
|THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED||
|---|---|---|---|---|
|CONSOLIDATED||STATEMENT OF CASH FLOWS|||
|FOR THE YEAR ENDED 31MARCH 2022|||||
||||2022|2021|
||||E|F.|
|Cash Flows from Operating
Activities|||||
|Cash Generated
from/(Used
by) Operations|||775,121|177,738|
|Investing
Activities|||||
|Purchase ofTangible
Fixed Assets|||(461,878)|(455,180)|
|Proceeds on Disposal ofTangible
Fixed Assets||||2,650|
|Intangible
Additions|||||
|Interest Received|||1,191||
|Net Cash used in Investing
Activities|||460687|452 530|
|Financing Activities|||||
|Loans Received/(Repaid)|||(66,667)|500,000|
|Net Cash Generated
from Financing|Activities||66667|500000|
|Net Increase in Cash and Cash Equivalents|||247,767|225,208|
|Cash and Cash Equivalents
at Beginning ofYear|||462,352|237,144|
|Cash and Cash Equivalents at End ofYear|||710119|462 352|
|Cash Generated
from Operations|||||
|Deficit for the Year|||(965,927)|(1,195,717)|
|Adjustments
for:|||||
|Investment
Income|||(1,191)||
|Fair Value Gains and Losses on Investments|||137,819|122,500|
|Depreciation
and Impairment
ofTangible|Activities||513,178|425,065|
|Loss on Disposal ofTangible
Fixed Assets||||26,166|
|Minority Interest Share of Subsidiary
Net|Income/Loss|||(127,500)|
|Movement
in Working Capital:|||||
|Decrease/(Increase)
in Debtors|||(201,5'i9)|165,182|
|Increase/(Decrease)
in Creditors|||1,292,791|762,042|
|Cash Generated
from Operations|||775 121|177738|
||||21||
##
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##
|||||Unrestricted|Unrestricted|Designated|Restricted||
|---|---|---|---|---|---|---|---|---|
|3|Donations||ErGrants|Funds||Funds|Funds|Total|
|||||||||2022|
|||||||E|E|E|
||Donations||S.Gifts||||||
||Voluntary|Donations||14,655|||21,912|36,567|
||Fundraising||Events|46,651||||46,651|
|||||61,306|||21~912|83~218|
||Grants Analysis||||||||
||Wolfson
Unit||||||1,700|1,700|
||Paste||||||13,000|13,000|
||Wound
Healing||||||13,800|13,800|
||Liver and Bowel||||||30,000|30,000|
||||||||58,500|58,500|
||Donations|and Gifts||61,306|||21,912|83,218|
||Grants||||||58,500|58,500|
|||||61,306|||80,412|141,718|
|||||Unrestricted||Designated|Restricted|Total|
|||||Funds||Funds|Funds|2021|
||Donations||8 GIRs||||||
||Voluntary|Donations||14,705|||4,950|19,655|
||Fundraising||Events|3,160||||3,160|
|||||17,865|||'l,950|22,815|
||Grants Analysis||||||||
||RAFT||||||97,355|97,355|
||John Fisher||Foundation||||25,000|25,000|
||James Tudor Foundation||||||13,000|13,000|
||Kirby Laing||Foundation||||10,000|10,000|
||IMET 2000||||||7,500|7,500|
||Other Grants||||700||16,610|17,310|
||||||700||169,465|170,165|
||Donations|and Gifts||17,865|||4,950|22,815|
||Grants||||700||169,465|170,165|
|||||18,565|||174,415|192,980|
##
|Charitable
Activities Income|Charitable
Activities Income|Charitable
Activities Income|Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|2022|
||||E||E|E|
|Training Courses and|||||||
|Facilities|||1,134,928|||1,134,928|
|Contract Research Projects|||883,353|||883,353|
|Other Income|||18,412|||18,412|
||||2,036,693|||2,036,693|
||||Unrestricted|Designated|Restricted|Total|
||||Funds|Funds|Funds|2021|
||||E||E||
|Training
Courses and|||||||
|Facilities|||641,727|||641,727|
|Contract Research Projects|||522,041|||522,041|
|Other Income|||45,565|||45,565|
||||1,209,333|||1,209,333|
|Charitable|Activities Expenditure||||||
|||||2022|2021||
|||||E|E||
|Direct Costs||||2,145,052|1,865,694||
|Staff Costs||||990,851|1,077,043||
|Support and|Governance|Costs (note|6)|75,132|52,637||
|||||321I 035|2~995(374||
|Analysis
by fund|||||||
|Unrestricted|Funds|||3,096,510|2,450,335||
|Designated|Funds||||349,454||
|Restricted
Funds||||114,525|195,585||
|||||3,211,035|2,995,374||
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|6|Support and Governance||Costs|E||
||Audit Fees|||36,596|18,381|
||Legal and Professional|||38,536|34,256|
|||||75,132|52,637|
|7|Net income/(expenditure)||for the year|||
|||||2022|2021|
|||||f|f|
||This is stated after charging:|||||
||Depreciation|||513,178|425I065|
||Lease rental payments|for|premises|513,305|513,305|
||Auditor'
Remuneration,|||||
||Prior Year|||21,442||
||Current Year|||15,155|18,381|
||Non-Audit
Services|||||
##
##
|||2022|2021|||
|---|---|---|---|---|---|
|||No.|No.|||
||E60,001 - E70,000|||||
||E70,001 - E80,000|||||
|Tangible Fixed||||||
|Assets||||||
|Group and Charity|||Fixtures,|||
||Leasehold|Plant 8|Fittings|Er||
||Improvements|Machinery|Equipment||Total|
||E|F.|E|||
|Cost||||||
|At 1 April 2021|8,949,693|1,571,970|||10,521,663|
|Additions|414,958|46,920|||461,878|
|Disposals||||||
|Transfers||||||
|At 31March 2022|9,364,651|1,618,890|||10,983,541|
|Depreciation||||||
|At 1 April 2021|2,035,712|1,393,121|||3,428,833|
|Charge for the year|460,355|52,823|||513,178|
|Disposals||||||
|At 31March 2022|2,496,067|1,445,9'l4|||3,942,011|
|Net BookValue||||||
|At 31March 2022|6,868,584|172,946|||7,041,530|
|At 31March 2021|6,913,981|178,849|||7,092,830|
##
##
##
##
|||2022|2021|
|---|---|---|---|
|||E|E|
|Profit and loss||||
|Turnover||||
|Expenditure||(124,270)|(125,147)|
|Loss||(124,270)|(125,147)|
|Balance sheet||||
|Intangible
Fixed|Assets|5,000|5,000|
|Current Assets||583|124,853|
|Total Net Assets||5,583|129,853|
|Called up Share|Capital - Griffin|||
|Paste Research|Ltd|100|100|
|Share Premium||254,900|254,900|
|Profit and Loss||(249,417)|(125,147)|
|||5,583|129,853|
|The Charity's
share of||2,792|64,927|
|Net Assets is||||
##
|12|Fixed Asset Investments|Fixed Asset Investments|Fixed Asset Investments|||||||Unlisted||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Investments|Total|
|||||||||||E|E|
||Cost or valuation|||||||||||
||At 1April 2021|||||||||891,723|891,723|
||Revaluations|||||||||(137,819)|(137,819)|
||At 31 March 2022|||||||||753,904|753,904|
||Carrying
amount|||||||||||
||At 31 March 2021|||||||||891,723|891,723|
||At 31 March 2022|||||||||753,904|753,904|
|||||||||||2022|2021|
|||||||||||E|E|
||Investments
at Fair|Value Comprise:||||||||||
||Videregen
Ltd|||||||||726,681|864,500|
||Proterris Inc|||||||||27,223|27,223|
|||||||||||753,904|891,723|
||Details ofthe Institute's||unlisted||investments||at|31 March 2022 are as||||
||follows:|||||||||||
||Name of Undertaking|88|Nature of business|||||||Class ofshares|% Held|
||Location|||||||||||
||Videregen
Ltd - UK||Development|||of|Stem Cell|||Ordinary||
||||Organ Regeneration|||||||Shares||
||||medicine|||||||||
||Proterris Inc - USA||Clinical Development|||||of||Common
Stock|0.47%|
||||Therapeutic|||Applications||||||
|As disclosed
in note 2,the||valuation||of|unlisted|investments|||is|based on information|such as share|
|price applying to a recent||fundraising||and a recently|||issued IRS409A valuation
certificate. The most|||||
|recent|valuations
for the above||holdings||were|provided||directly||by Videregen
Ltd and|Proterris Inc.|
|13|Debtors|||||||||2022|2021|
||Trade Debtors|||||||||362,495|203,270|
||Prepayments
and Accrued Income|||||||||80 310|31886|
|||||||||||442 805|241 256|
##
##
|||Group|Group|Charity|Charity|Charity|
|---|---|---|---|---|---|---|
|||2022|2021||2022|2021|
|||E|E||||
|Trade creditors||494,948|234,885||494,948|234,885|
|CBILS Loan|(note|100,000|75,000||100,000|75,000|
|15)|||||||
|Other creditors||367,331|268,443||367J331|268~443|
|Accruals It|||||||
|Deferred Income||1~065~481|262 566||1065481|262 566|
|||2,027,760|840,894||2,027,760|840,894|
|Creditors:|Amounts|Falling Due After|More Than|One Year|||
|||||Group||Group|
|||||2022||2021|
|Trade creditors (see below)||||1,667,474||1,390,599|
|CBILS Loan|(see below)|||333|333|425,000|
|Other creditors||||||145,950|
|||||2,000,807||1,961,549|
##
|payable|by 3uly 2026.||||
|---|---|---|---|---|
|16|Minority Interest|Share ofSubsidiary|Net Assets||
|||||Group Total|
|||||E|
||Cost or valuation||||
||At 31 March 2021|||64,927|
||Share capital issued||||
||Share premium
issued||||
||Net income/(loss)|for the period||(62,135)|
||At 31March 2022|||2,792|
|||||THE GRIFFIN INSTITUTE|THE GRIFFIN INSTITUTE|THE GRIFFIN INSTITUTE||||
|---|---|---|---|---|---|---|---|---|---|
|||||NOTES TO THE FINANCIAL||STATEMENTS||||
|||||FOR THE YEAR ENDED 31||MARCH|2022|||
|17|Restricted|Funds||Balance|||||Balance|
|||||At 1April|||||At31March|
|||||2021||Expenditure||Transfers|2022|
||||||||E|E|E|
|Wolfson|Unit|||850|1,700||(2,550)|||
|Dr LTurner-Stokes||||46,519|177912||(11,635)||52,796|
|Tropical|Diseases Prevention|||||||||
|Unit||||||||||
|Course|administration|service||2,044|||||2,044|
|Mr Lamont OBSand||Gynae||||||||
|Research Funds||||21,727|||||21,727|
|Dr Mouyis||||3,967|||||3,967|
|Wound|I-lealing Project|||29,871|11,800||(31,211)||10,460|
|||||61,229|||(64,753)||(3,524)|
|Bowel|||||30,000||(2,974)||27,026|
|Capital|Equipment|||4 950
171157|19000
80412|1402
~124525|||22 548
137044|
|Restricted
Funds||||||||||
|||||Balance at|||||Balance|
|||||1April|||||At 31|
|||||2020|Income|Expenditure||Transfers|March|
||||||||||2021|
|Wolfson|Unit|||88,207|8,060||(95,417)||850|
|Dr LTurner-Stokes||||46,519|||||46,519|
|Tropical|Diseases Prevention||Unit|6,999|||(6,999)|||
|Course|administration|service||3,796|||(1,752)||2,044|
|Mr Lamont OBSand||Gynae||||||||
|Research
Funds||||21,727|||||21,727|
|Dr Mouyis||||3,967|||||3,967|
|Wound|Healing Project|||23,225|64,050||(30,767)|(26,637)|29,871|
|||||30,918|97,355||(60,650)|(6,394)|61,229|
|Capital|Equipment||||4 950||||4 950|
|||||225,358|174,415||(195,585)|(33,031)|171,157|
|||||THE GRIFFIN INSTITUTE|THE GRIFFIN INSTITUTE|THE GRIFFIN INSTITUTE||||
|---|---|---|---|---|---|---|---|---|---|
|||||NOTES TO THE FINANCIAL STATEMENTS||||||
|||||FOR THE YEAR ENDED 31MARCH|||2022|||
|18|Designated||Funds|||||||
|||||Balance at|||||Balance at|
|||||1Apr|Incoming|Resources|||31Mar|
|Group &Charity||||2021|Resources
f|Expended||Transfers
f|2022
f|
|Leasehold||Improvements||||||||
|||||Balance at|||||Balance at|
|||||1April|Incoming|Resources|||31Mar|
|Group 8||Charity||2020
E|Resources
f|Expended
f||Transfers
f|2021|
|Leasehold||Improvements||6,639,626|||(349,454)|(6,290,172)||
|||||6,639,626|||(349,454)|(6,290,172)||
|19|Unrestricted||Funds|||||||
|||||Balance|||||Balance at|
|||||at 1April|Incoming||Resources||31Mar|
|||||2021|Resources||Expended|Transfers|2022|
|Group||||||||||
|General|Unrestricted||Funds|5,654,634|2,324,621||(3,194,301)||4,784,954|
|Minority|Interest Share of Sub Net|||||||||
|Income||||64 927|||62 135||2 792|
|||||5 719561|2 324 621||3256436||4 787 746|
|||||Balance|||||Balance at|
|||||at 1Apr|Incoming||Resources||31Mar|
|||||2020
f|Resources
f||Expended
f|Transfers
f|2021
f|
|General|Unrestricted||Funds|221,451|1,531,444||(2,421,464)|6,323,203|5,654,634|
|Minority
Income||Interest Share of Sub Net||||~62 573||127 5DD|64 927|
|||||221 451|1 531444|~2484 937||6 45D 7D3|5719561|
|||||Balance|||||Balance at|
|||||at 1April|Incoming||Resources||31Mar|
|Charity||||2021|Resources
f||Expended
f|Transfers
f|2022
f|
|General||Unrestricted|Funds|5,594,708|2,324,621||(371327166)||4,787,163|
|||||5,594,708|2,324,621||(3,132,166)||4,787,163|
|||||Balance|||||Balance at|
|||||at 1April|Incoming||Resovr'ces||31Mar|
|||||2020
f|Resources
f||Expended
f|Transfers|2021|
|General||Unrestricted|Funds|221,451|1,533,944||(2,483,890)|6,323,203|5,594,708|
|||||221,451|1,533,944||(2,483,890)|6,323,203|5,594,708|
##
|20|Analysis ofNet Assets Betw|een Funds||||
|---|---|---|---|---|---|
||Group|Unrestricted|Designated|Restricted||
|||funds|Funds|Funds|Total|
|||E||E|E|
|Fund balances
held at 31 March 22 are||||||
|represented|by:|||||
|Tangible assets||7,041,530|||7,041,530|
|Intangible|assets|5,000|||5,000|
|Investments||753,904|||753,904|
|Current assets/(liabilities)||(1,011,880)||137,044|(874,836)|
|Long term|Liabilities|(2,000,807)|||(2,000,807)|
|||4,787,747||137,044|4,924,791|
|Group||Unrestricted|Designated|Restricted||
|||funds|Funds|Funds|Total|
||||E|E||
|Fund balances
held at 31 March 21are||||||
|represented|by:|||||
|Tangible assets||7,092,830|||7,092,830|
|Intangible|assets|5,000|||5,000|
|Investments||891,723|||891,723|
|Current assets/(liabilities)||(308,443)||171,157|(137,286)|
|Long term|Liabilities|19615'l9|||1961549|
|||5,719,561||171,157|5,890,718|
##
||2022|2021|
|---|---|---|
||f.||
|Within one year|256,653|608,557|
|Between One and Two Years|513,305|690,096|
|Between Two and Five Years||698,028|
||769,958|1,996,681|
##
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