Company No: 06606603 Charlty No: 1129387 The Sydney Driscoll Neuro-science Foundation (Company Limited by Guarantee) Flnanclal Statements For The Year Ended S Aprll 2024
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMTED BY GUARANTEE) CONTENTS Pago Legal and Admlnistralive Information Trustees. Annual Report Independent Auditor's R8POrt lo the Member8 statement of Flngncial Actlvlle8 Balance Sh801 Notss lo the Financial Stslements 10
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMTED BY GUARANTEE) COMPANY INFORMATION R•glster•d Charlty Namg The Sydney Driscoll NeUrSCience Foundatlon Ch•rlty R•gistr*tlon Number 1129387 Company R•gi•tration Nurnb•r 08606603 Trustso•lDlroctor• J A Fergu50n N Guruslnghe J Wlnnard NDPark J Ec¢kn$ R•gl$t•rnd Offlc• 7 Wncklay Squarn Pre8lon PR1 3JO 8•crotary Mr John Andrew Fer9uson ststutory Audltor MHA Chartereil Accountants Richard House 9 Winckley Square Preston PR13HP Sollcttorn Naplhens 7 Winckl•y Square Preston PR1 3JD
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Iruslees, who are also dbrectors for the purposes of company law are pleased to present thelr prèsent th•ir comblned directors and trustees, report and financial slalements lor the year ended 5 April 2024. The financial ststemenls comply %Mth the Charllies Act 2011, the Companies Act 2006, the Memorandum an¢J Articles of Associati. and Accounting and Reporting by Charitie5' Slalemenl of Recommended Praclice appliCae lo charities preparing their accounts in accordance with the Financial RePOng Standard appli¢able in the UK and Republic of Ireland IFRS 1021 (Octor 20191 Structure. gov•rnanc• and manag•m•nt Govamlng do¢um•nt The charrty is a company Ilmiled by guarantee, govemed by its Mernorandum and ¢1&5 of As8oci*ion, and was incorporated on 30 May 2008. R•crultm•nt and appolntmont of trustses Trustees are recrurted from lime lo time by the exisfjng Irustsfjs on the basis of Ihelf knowledge and experlence of the administration and delivery of health services fund raising and where il Is perceived that they are qualified lo deliver other relevant experience and skills to the charity. Th8 trustees are actively seeking lo appoint additional suitable directors and Iruslees. Tru•ts•8 Inductlon and tralnlng Upon app)inlm8nt the Iruslee8 are g¢nerally appralsed in meetings of the financial posllion and the objecls of the charity and of relevant ongoing pro9ramme8 for dellvery of th8se objects. Organlsatlonal •tru¢tur• The board ol trustees adTninisl•r$ th• charity. Th• trustee8 vtho served during the period are Sel out on page 1. The In13tee8 meet quarterly. Rl•k managem•nt The Iwstees have examlned the major 8lralegic, buglness and operational rfsk8 which the charity faces and confirm that systems h8ve been established lo enable regular reports lo be predu¢ed 50 that the necessary slep5 can be taken to lessen the rf$ks. Obloctlvos and actlviti Th& Charity's objects are lo heal and relievo sick, disabled and aged persong from the dlsabillties and Inflrmlties wf(h which they are afflicted in one or more of the followng ways.. By establishing, fitting out and slocklng and maintainlng a library 5pe¢ialislng In neurSurgiCal and neurolo9ical medicine and allied neufO.s¢ienceg containing books and journals and such auxiliary goods items and equipment, logelhervllh th¢ necessary furniture and fixtures and fittings as the Iruslees in thelr discretson may consider advisable for the use of medical practitioners. 8y promoting and funding research and e¢Jucalion and generally by developing the practice of neuro- surgical and neurological medicine and allied neuro-sciences by such means as the Iruslees may in their absolute discretion deem to be appropriate and by dlsseminaling for Ihe public benefit any useful results obtained from any res&arch andlor (levelopments. By acquiring or ags1s1ing in the acquisition or provision of 5u¢h plant machinery and equipment as the trustee5 in their absolute discreb.on may deem appropriate for use In conjunction wfth the pracb'ce and development gf neurovsurgical and neurological medicine and allied neUrSCienCes. The Iruslees confim that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the chartty's aims and objectives and in planning future aclivilie$ and setting the grant rnaking policy for the year.
THE SYDNEY DRISCOLL NEURO4CIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEEI TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 Achlovement and pgrforman¢o The details of the charity's income and expenditure for the year and its net assets at 5 April 2024 are on pages 8 and 9 of the financial 51alements. In summary, the ¢harrty generated income of £25,578 12023 £26.5801 in the year to fijnd expenditure of £98,64012023 £66,424). Durlng the accounting period the Iruslees have continued their sponsorship of the maintenance of a brain tissue bank al the Tissue Culture Laboratory al Royal Preston Hospital. They have ¢ontinued the funding and development of the SDN Neurosciences kn'brary situated in Ihe neuroscionce department al Royal PS1on Hospital. The trustees continued lo work with The School of Clinical and Biomedical Sciences al the University of Central Lancashire in relation lo the sponsorship of research projects relating to neuro oncology. This project is proceeding and payments tolalling £41.700 have been made in the year. The trustees have engagtrd an indepen(Jenl consultant lo advlse regardin9 fundraising and the develLwmenl of an updated website. The trustees have also provided grants lo support Individual neuroscience trgine•s and the annual Braln Tumour North Wesl Conlerence. There 8m no reslriclions on the charity's power lo invest. The investment strategy is reviewed regularfy by the Iru5tees anfj takes accoynl ol the demand for funds. Due to the volalilily in the investment markets. Ihe Iruslees were Content to h¢ld high levels ol cash deposits during the year. They are eonlinuing lo reVW this policy and lo tske advice from their investment advisers, Messrs J M Finn & Co. The Ifuslees will not Invest in companies associated with the tobacco Industy. Flnan¢l•l r•vlow RM•rv•• pollcy Al 5 April 2024 the charity held unresldcled reserves of £725,116. The Iruslees have the power lo apply both caphtal and Income towards the objects of the Foundallon. The Iru5tees' current policy and praCte is 10 spond the inceme and lo make up any shortfall required lo maintain their sponsorship of approv¢d projects out of capital. They ale prepared in appropriala circum818nces to make signlficanl grants out of capital towards Subble prqfjcls and two particular projects are currently under consideration. Prlnclpal fundlng •ourc•• Principal funding sources are th• historSc endowment received under the will of Mr8 Lucille Ddgcoll and income generated Ihereon. During the relevant accounting year the Iruslees havg recelved slgniflcanl additlonal grants Irom patients ol Royal Preston H05Pital and Iheir famili95. Going concom Thè Tru51ees consider that the charrty has suffici&nt reserve$ lo meet liabililles a8 they fall due for a period of 41 18asl e1Ve months from the dale of the signing of the 8ccounl8. Plani for luture pfjrlod The trustee5 wlll continue lo meet their objectives in the current year.
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION ICOMPANY LIMITED BY GUARANTEE} TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 R•$pon$lbiliti•s of tho trusts•s The Iruslees (tho are also directors of the charty for the purposes of company lawl are responsible for preparing the Tru51ees' Annual Report and the financbal statements in accordance with appI1¢ae law and United Klngdorn Accounting Standard5 (Unitad Kingdom G8narally Accepted A¢¢ounting Practice). Company law requires the Iruslèes to Prepare financlal $tatemenls for each financial year, which give a INe and fair vlew of the stole of affairs of the charitable company and of the incoming resources 8nd application of resources, including the income and expenditure, of the charllable company for that period. In preparing Ihese financial slalements, the Iruslees are required to.. select suitable accountlng pg1icle5 and then apply them con8islènly', obseNe the methods and principles in the Charities SORP 2019 IFRS1021', make judgements and estlmales that aro reasonable and prudent., slate whether 8ppllcable UK Aecounts'ng Standards have been followed. subject to any matgrial departuTe8 disclosed and explained in the financial slatemenl5', prepare tha financial 61atemen15 on the going concem ba815 unless It Y8 inappropriate lo presumg that tho charitable company will continue in operation. The trust8eB a respon8ible for keoping adequale accounting records that disc105e with reasonable accuracy at any time the financial position of the charitable company and enable them lo en3ure that the financlal statements comply wrth th8 Companies Act 2006. They are also responsible for safeguarding the assets of the chari¢8ble company and hence for taking reasonable steps for the prevention and delecllon ol fraud and other irregularittes. In so far as tha tru$l8os arè aware.. there is no relevant audit inlomalion ol which the ¢hadlabl• company's auditor is unaware,. and the trustees have taken all slep8 that they ought lo have taken to make Ihemselvas aware ol any relevant udit infomiation and lo e8lablSsh Ihal the auditor Is aware of that information. Audltorn A re$olution to re-appoint MHA as auditors lor the ensuing yoar wlll be proposed al the annual general meeb'ng in accordance wllh the Charitie5 Act 2011. Si9ned by order of the Iru$tg85 Mr John Andrew Forgufjon Company Sacrgtary Registered office.. 7 Winckley Square Preston Lancashire PR13JD Oate..
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 6 APRIL 2024 Oplnlon We have audit8d the financial stslements of The Sydney Driscoll Neuro-science Foundation (ihe 'charilable company'l for the year ended 5 April 2024, which comprise the Slatemgnt of Financial Activities, the Balance Sheet and the relalJ notes. including signifieanl accounting policies. The financial reporting framework that has b¢en applied in Iheirpreparats'on 15 applicat9 law and United Kingdom Accounting Standard9, including Financial Reporting Standard 102 The Financial Reporting Standard appliGable in the UK and Republi¢ of Ireland (United Kingdom Generalty Accepted Accounting Practs'cel. In our opinion the financial statements.. 91V8 a true and fair view of the stale of Ihts charitable company's affairs as al 5 April 2024, and of 11$ Incoming resources and application of resources, including 115 Income and expenditur8, for the year then ended", have been property prepared In accordance United lfj'ngdom Generally A¢c8pled Accounllng Practice.. and have been prepared in accordance byilh the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audlt In accordance wtth International Standards on Audlling IUKI IISAS IUKII and applicable law. Our responsibiltties under those standards are further described in the Auditor's respon3ibililieg for the audit of the financi31 stsl&menls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are levant to our audr( of the financial stslemenls in the UK. including the FRC's Ethical Standard, and we have fulfilled our other ethical rtssponsibilib'eB In 8ccordance Vth the$• requlr•ments. We beli8ve Ihat the audit evidence we have obtained is sufficnl and appropriate to provide basls for our opinion. C¢n¢lu•lon• r•latlng to golng conc•m In aud"n9 the financkl staternts, we have concluded thalthe trustees, use of tho going concem ba$1¥ ofaccounllrKJ in the preparation of Ihe finanad statements Ys apprcpriate. 8ased on the work we have pgrfomied, we have not endfied any materlal uwrtainles relotirKJ lo events orcondit¥)n8 that, indwidualty or colleCtelY, may cast significant doubt on the charilable Company's ability to continue a8 8 going cLJncem for a period ol at loasliwefve monbls from whenthe finanual ststements are aulhcnsed for is8. Our resp0nsibi1rtS and Ihe responslbilrties of1 truste8S Wth Mpectto going concem are described in the revant sactions of this p)rL Other Inlorniatlon The trustees are responsible for the other information included In the Imslees annual report. The other inlormatson comprises the inforniation included in the trustees, annual report, other than the financial statements and QUT audrtor's report thereon. Our opinion on the financial statements does not cover the olher information and, except lo the exlenl otheNse explicitly slateil in our report. we do not express any form of 85sur8nce conclusion Ihereon. In connecllon with our audit of the financial statemen15, our responsibility is lo read the other information and. in doing so, consider whether the other information is materially incon519tent wrth the flnancial statements or our knOedge obtained in the course of th& audit or otheTrvise appears to be materially misglated. If we identify such material inconsistencies or apparent material mlsstalements. we are required lo determine whether this gives rise lo material misstatement in the financial $18lemenls them3elve5. If, based on the work we have performed, we conclude that there is a material misslaternenl of this other information, we are required to report that lacL W8 have nothing lo report in this regard.
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS FOR THE YEAR ENDED S APRIL 2024 Opinions on othor matters preBcrlbgd by tho Compan188 Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Iruslees, report lincorporaling the diredors, report) lor the financial year for which the financial slalements are prepared is consistent with the financial 5talements', and the trustees" report has been prepad In accordance wth applicable legal requirements. In the light of our knowledge and understanding of the charitable company and 11$ environment oblalned in thè course of thè audit, we have not identified material misstalemenls in the trustees. report. Mattorn on which w• aro r•qulred to rnport by •xcopUon We have nothing lo report in respect of the following m4tter$ in rolalion lo which the Companles Act 20C6 require¥ us lo report lo you if, in our opinion.. 8dequale accounting recordg have not bèen kept, or returns ad•qualo for our audit have not been received from branchès not visited by us., or the financial 51al6menls ar¥ not in agreemant with the a¢counllng records and r8tums'. or certain disd08us of difeclor5' remuneration speclfied by law are nol madg., or we have not recelved all the Information and explanations we requirè for our audit , Of the trustees were not enlilled lo prepare tho financial ststern&nts in accordance with the small ¢ompanle8' regime tske advantage of the small companies, exemptions in preparing (he directors, report and from th requirement to prepare a stralegl¢ report. RPOnSIbIlItI&l of tru•t••• 3 explained more fully in the Irusl8es' responsibilities slalemenl set out on page 3 and 4, the trustees (who are also Ihe directors of the charrtable company for the purposes ol company18wl are re5ponslble for the preparation of Ihe financial slalemenls and lor being satisfied Mal they give a true and fair view. and for such inlefnal ¢ontrol as the Iruslees delermine is necessary lo enable the preparnlion of fIncial statements that are free from malerKg1 misslalement, whether due lo fraud or error. In preparing the flnancial slalements, the Iruslees are responsible for a8$esn9 the charitable comp8ny'8 ablllty lo continue as a going concem, dischjsing, as aN)licable, matters related lo golng concern and using the going concern basig of accounting unle55 the irustees ellher Intend to liquldal• the charitable company or lo cease operations, or have no roalistic allemalive but lo do so. Audltor'j r•Jpon8lbllltlos lor th• audlt of the Ilnanclal •tatem•nts Our obj8clive8 are lo obtain reasonable gssurance about whether the finondal slalemenls as a wholo are free from material mis$lalemenl, whether ijue to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of gssurance. bul is not a guarantee that an audit conducted in accordance wlh ISAS IUKI 11 always dele¢l a material misstatement when it exists. Misstatements can arise from fraud or error and are Considered material if, in¢Jividually or in the aggregate, they could reasonably be expe¢ied to influence the &conomic decisions of users taken on the basis of these financial statomenls. Irregulathgs, In¢dIng fraud. are inStaS of ncn-¢ompliarrE wlh laws and reguL4ts'ons. We desig) pyocedures in line with our responsblities, oullined above. to detect material misstatements in respect of irregularities, inclLvJing fraud. The extent lo sthich our procedures are ¢apable of detecting irregUrities. indudng fraud is detsiled bebw.
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITQR'S REPORTTO THE MEMBERS FOR THE YEAR ENDED 5 APRIL 2024 Obtaining an understanding of the legal and regulatory fr8meworks that the Charity operates in, focusing on those laws and regulations that have had a direct effect on the financial statements. The key laws and regulations we ctsnsldered in this context relate lo the Charth'es Act., Discussions wlth management, including consideration of known or suspected instances of non- complian¢e with laws and regulations and fraud.. Enquiry of management and those charged with govemance around actual and potential litigation and claims". Perfom)ing audliwork overth8 risk of management override of controls, including, evaluating the bu8in¢ss rationale of significant tran5action$ outside the normal course of business and revlevAng aOuntIng e51imales for bias,. Reviewing minutes of meetings ofthose Charged WTth gov&rnance', and Reviewing financial statemenl disclo$ure$ and lestlng to 8UPPOrting documenlatlon to assess complianc• wrth applicable laws and regulation5. Because of the inherent limltations of an audit, there 15 a risk that we wll not detect all irregularkles. includlng those leading to a material misslalemenl in the financial stalernenls or non-compliance with régulation. Thls risk increases the more that compliance with a law or regulation is removed from the events and transacliens reflected in th& financial statements. a8 we will be less likely lo b&come aware of Instances of non.complianc8. The rlsk 18 also greater regarding irregularities occurring due to fraud rather than efror. ag fraud involves intentional onGealmenl, forgery, collusion. omission or rnisrepresentalion. A further de8CriPtign of OUT responsibil.eS for the audll of the financial slalemenls is located on the Financial Reporting Council's websll• at.. www.Irc.org.uklaudilorsrgsponsibililies. Thi$ description forms part of our auditor's report. Usg of our r•port Thls report Is made s018ly to the charitable company'$ Iruslees, as a body, in accoraancg with Part 4 of the Charf¢ie$ (Accounts and Repgrtsl Regulations 2008. Our audit work has been undertakan so that we might stal• lo th8 charitable company's trustees those matters we are requlred lo slate to them In an audrtor's report and for no other purpose. To the lullesl extent permitted by law, we do not accept or assume responsibilrty lo anyon• other than the charrtable company and thè Charitable company's Iruslees as a body, for our audrt work, for this report. or for the opinions we have lormed. Nlcola Mason MAICantabl FCA DChA (Senior Slatulory Auditor) For and on behalf of MHA, Ststulory Auditor Preston, United Kingdom Dale.. MHA is the trading name of Mclntyr8 Hudson LLP, 8 limlted liabilty partner8hlp in England 8nd Wales Igistered number OC3123131.
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTNITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNTI FOR THE YEAR ENDED S APRIL 2024 Total lunds T¢)tsl funds for the year for the year ended nd•d 5 Aprll S Aprll 2024 2023 Not• Incomo from: Donations and legacies Investment income Other income 1.932 23.316 330 1.184 25,363 33 Total In¢omlng r••ourco• 25,578 26,580 Expondttw• on.. Ralslng funds Charitable acllvilies 5,376 93,264 5,588 60.838 Total r••ourcM •xp•ndod 98,640 66,424 Not Incom•ll•xpondlturn) b•for• Invg*tmont• 173,0621 139.644 N•t galn• I110180•1 on Inv••tm•nt• 30,323 138,8431 Not InComlempondtUr•l 142,7391 178,4871 Roconclllatlon of funds Balgnce brought folward at 6 April 2023 767,855 846,342 B•lanc9 carrl•d forward at S April 2024 725.118 767,855 JI movement8 In both the current and Prlor year are in unreslriGt8d funds and Telale to conunulng 8dvities.
THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Not• Fix•d as$ots Investments 435,778 691,613 Current Debtors Cash at bank 3.894 291.824 3,738 75,024 295.518 78,762 CurMnt1Sabllltlo• Creditors.. amounts falllng du• wthin one year 16,1801 {2.5201 Net curr•nt a•s•ts 289,338 76.242 Net •8vets 725.116 767,855 Th• fund¥ of tho charlty.. Unrestricted 725,118 767,855 Total charbty fund• 725,118 767,855 These financlal slatamonls were approved and aulhorised for183ue by the Irustaes on ned on their behalf by.. thzs.and are J A Fergu•on Tru•tse Company Registr81ion Num1.. 06606603 The notes on pages 10 to 14 form part ofthese financlal statements.
THE SYDNEY DRISCOLL NEURO4CIENCE FOUNDATION ICOMPANY LIMITEO BY GUARANTEE NOTES TO THE ACCOUNTS FOR THE YEAR ENOED S APRIL 2024 A¢counting poIici¢s Legal fom) The charity consli(utes a limited cornpany, limited by guarantee as defi'ned by the Companies Act 2006, incorporated in England and Wales. The registered office 18 as slated on page 1. In the @vent ol the charrty being wound up. the liability in respect of the guarante8 is limited to £1 per member of the charity. The nature of the charity's operations and prln¢ip81 aclivtties aro in the detailed In the R¢port of the Trustees. Basis of accounting The financial slatementg have been prep8red in accordance wbth Accounting and Reportin9 by Charitses.. Statement of Recommended Pracb'ce applicable to charities prepafing their accounts in 8ccordan¢e wlth the Financial Reptsrting Standard applicable in the UK and Republic of Ireland issued Sn Octobef 2019, the Finandal Reporting Standard appllcable in the Unltsd Kin9dom and Rapublic of Ireland IFRS 1021, the Charrties Act 2011, the Companiès Act 2006 and UK Generally Acc&pted Accounting Practice. The charily does not include a ¢a$h flow statement on the grounds that il is applying FRS 102 Sethon 1A. The Sydney Driscoll Neuro•Science Foundation meets the deflnilion of a public benèfit entity under FRS 102. Assets and liabilitie5 are inS1ially recognised al historical cost or transaction value unless otheise 8lat•d in tho rolgvanl accounting policy note8. Pr•paratlon of th• accounts on a golng ¢onc•rn ba•S• Th8 financial $latemenls have boon prepared on a going concern basis and the Irusl8es believe that no material uncertainties exist. The Trustees cgnsider that the charity has sufflcienl reserves to meet Ilath'liti¢¥ as Ihey1811 due for a peiiod of at least tsvelve month8 from the dale of the signing of the a¢¢ounlg. Incom• Income is recognised in the Slalemenl of Financlal Activities on an accruals basis. Investment inwme 18 recognised On an accruals ba$ls. Rewuf¢•• •xp•nd•d Expenditure, incluslve of VAT,15 charged lo Ihe Statement of Flnancial Activities on an accruab basis. Flnanclal In8trum¢nts The charity only has flnancial assets and flnanciol liablllties of a kind that qualify as basic financial inglruments. Basic financial instrurnenls are inltially recognised at transaction value and $ub$•quenlly measured at their settlement value. Invutm•nts Investments are staled on the balance sheet at market value. Unrealised gainy and Ios5eg, and gains and losses on disposal are recorded in the Statement of Financial Activities. Cash at bank and In hand Cash al bank include5 cash held by the administrator. inv95tment manager and banks. A¢¢ruals Accruals are recognised where the tharity has a psent obligation resu19 from a past event that will probably resu in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. These are normally recognised at their settlement amount.
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE) OTES TO THEACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollcS0¥ lcontlnuodl Books Expenditure on books and perKsdicals is written off In the accounting pgriod in which this is incurred. Fund accountln9 Unreslricled funds can be used in accordance th the chartsble objectives at the discretion of th• Iruslee$. Restricted funds can only be used lof particular restricted purposes within the objects of the charty, Re$lricliorig arise whgn Specified by the donor or vthen funds a raised for particular restricted purpose5. Further èxplanatson of the nature and purpose of each funds Is included in the notes to the financial 81alements. Judg•m•nts and k•y ¥ourcM of ••tlmatloD uncortalnty Th8fe have been no signlficanl Judgements (apart from those involvlng 851imal#sl made in the Pfoces¥ of Pfeparing the accounts. There have been no key assumption$ conceming the knturè and other key sources of &slimalion uncertainty al the reportin9 dale that have a significant risk of causing a rnaleTi41 8djuslmenl to the carrying amounts o188sels and liabilities wlthin the next financial year. In¢omlng r•sourc Y•arend¢d Yoar•nd¢d 5 April 5 April 2024 2023 Donatlons and 18gachs Donation¥ 1,932 1,184 Inv8stm•nt Incomo M & G Investments Charifvnd CCLA Investments COIF 8la¢kro¢k A¥set Management CharinGo Brunner Investrnenl Trust F&C Invèstment Trusl BB Healthcare Trust Scottish Mortgage Trust Schroeder Asian return Johnwn and Johnson 8,42B 10,438 104 10,203 1,075 777 1,656 142 850 118 9,104 833 818 1.651 164 1,100 1,218 23,316 25,383 Oth•rlncome Bank interest 330 33 25,578 26,580
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION {COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO S APRIL 2024 Rasourco8 •xynd•d Year ondad 5 April 2024 Yoar ondod S April 2023 Charitabl• actlvitl•s Dlwt ¢o¥ts Project funding Library services Lecture fees and expen8e$ 76,209 5.881 47,819 4,387 82,090 52,208 Support c1$ Insurance Accounting and admlni8lrAlion feè8 ank charges Sundry expenses Govemance- Audltor'8 remuneration linclusive of VAT> 391 4,288 60 2,775 3,660 47 3,521 42 1.595 3,000 11,174 8,630 Total charttablo a¢tlvltl 93.264 60,836 Cost olrnlslng funds Investment management charga8 5,376 5,588 98,640 66,424 Prolecl funding comprises.. £32.073 Lancashlr8 Teaching Hospitals Ilnstilulionl and £44,136 UCLAN Gronl. 2024 2023 Auditor'$ remunerations consists of the following charges.. Audit of the financial Statements (exclusive of VATI 3.050 2.050 -12-
THE SYDNEY DRISCOLL NEURO-SCIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS FOR THEYEAR ENDED S APRIL 2024 Invo*kn•nts Markot Addltlons value at 6 Aprll 2023 Salo8 Chang• In procoods valuo Market value at S Aprfl 2024 Cost at 5 Aprll 2024 M & G Investm8nls Chafrfund 146,878 13,1821 142,696 95,484 Blackrock Assèt Management CharirKo 284,257 {286,1581 1.901 95,806 CCLA investments COIF Charitse$ 12 13 12 BMO CommereiAI Johnson & Jonson 2.45% corporate bond 48,985 11,0861 47,899 49,998 Brunner Investment Trust F&C Trust Bellevue Healthcare Trust Scottish Mortgage Trust Schroder Aslan PIC 52,500 12,750 85,250 50,113 Investment 51,562 6,205 57,787 50,Ce5 40,015 1.378 41.393 50.649 25.704 10,056 35,760 49,863 42.700 2.300 45,000 49,949 BP Ordlnary Share 691,613 12B6,158) 30,323 435,778 454,730 Th8 aggrègatè amount of 118ted inv85trnents al 5 April 2024 was £435,7765 12023.. £691.6011. Tho aggregate amount of cash and cash equlvalents 815 April 2024 was £1312023.. £12}- Dgbtorn Year •nd•d Yr ond•d 5 Aprll S Aprll 2024 2023 Prepaymants and accrued income 3,893 3,738
THE SYDNEY DRISCOLL NEURO4CIENCE FOUNDATION (COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED S APRIL 2024 redrtor¥: amounts falllng dug ¥¥lthln on• y•ar Year ended Yr ond•d 6 Aprll 5 April 2024 2023 Accrugls 6,180 2,520 Tru8toM' rgmungrjtlon. trustso$' oxp•nso8 and r•fflun•ratbon pald to key manag•mont onn•1 None of the trustees r•c•ived any remun•ralion or •xpen898 during the current or previous year. Thè charity had no paid key man8gemenl personnel during the current or prevlous y80r. Flnanclal commltm•nt• The Foundation entered into an agreement In 2019 with the Univarsty of Central Lanca$hire lo contribute £100,000 over a period of three years to a jointly managed scheme for r&se8rch into Irealmenl of brain cancer. Thls project is now preceeding 8nd 8 8•ries of research proje¢l¥ have been identified whlch use the lull conlribubon. 10 Tax•tl¢)n The F¢undation l¥ 4 reg15tered charty and consequenuy there 18 no Ilability lo taxallon on incomè derived from rts ch8rtlable activlues. 11 Fln•n¢l•l In•trum•nts 2024 2023 Carrylng amount of financlal a•••t• Measured al fair value Ihrougm net incomelexpendllure 435,778 691.813 -1