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2021-03-31-accounts

Registered Company number: 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee)

Statement of Financial Activities For the Year Ended 31[st] March 2021

PALMER McCARTHY Chartered Certified Accountants Suite 70, Capital Business Centre 22 Carlton Road South Croydon CR2 0BS

Registered Company number: 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee)

Contents

Page Trustees and Directors’ Report 1 to 6 Independent Examiner’s Report 7 to 8 Statement of Financial Activities 9 Balance Sheet 10 Cash Flow 11 Notes to Financial Statements 12 to 16

Registered Company number: 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED 31 MARCH 2021

The charity trustees (who are also the directors) present their report together with the financial statements and the independent examiner’s report for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: Urostomy Association

Charity Number: 1131072 (England and Wales); SCO47740 (Scotland)

Company Number: 6918246

Registered Address: 2 Tyne Place, Mickleton, Chipping Campden, Gloucestershire, GL55 6UG

Website Address: www.urostomyassociation.org.uk

Current Trustees/Directors:

Bankers: Royal Bank of Scotland

Independent Examiner: Stephen Hole FCCA, Palmer McCarthy, Suite 70, Capital Business Centre, 22 Carlton Road, South Croydon CR2 0BS.

Investment Manager: Rathbone Investment Management Limited, George House, 50 George Square, Glasgow, G2 1EH.

1

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

Objects

The aims and objectives of the Charity are:

The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Activities

The main activities during the year included:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Urostomy Association was originally established in 1971. It is now a charitable company limited by guarantee, and governed by its Memorandum and Articles of Association. All subscribing members of the Association are also members of the company. Each member of the company is required to contribute an amount not exceeding £1 should the company be wound up while he/she is a member.

Appointment of Trustees

The charity is a membership organisation. Appointment of trustees to the Board is by election at the National Annual General Meeting. Trustees are elected for a three-year period but can stand for reelection if they wish. Exceptions to this are the National President (who is appointed by the National Executive Committee), the Chief Executive Officer (who is an employee of the Association) and a specialist nurse who is co-opted as the Association’s Nursing Advisor. Where vacancies occur, the Board (at its discretion) may co-opt members for the period up to the following National Annual General Meeting, at which they may stand for election.

Locally, some areas have branches and members of those branches elect a committee to serve as officers of the Branch.

2

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Organisational Structure

The strategic management of the Charity is undertaken by a National Executive Committee (NEC) which is made up of each of the Trustee/Directors. The NEC normally meets four times a year and is supported by a number of sub-committees who meet on a regular basis.

Risk Management

The Trustees, who maintain a formal risk assessment register, regularly review the risks to which the Association Is exposed. They do not consider that there are any substantial risks beyond the liabilities disclosed in the Financial Statements.

ACHIEVEMENTS AND PERFORMANCE

The Association exists to provide support and reassurance to anyone with a urinary diversion or contemplating such surgery. As such it forms a valuable resource for medical professionals, providing peer to peer support, both before and after surgery.

Membership

Full membership of the Association is limited to those who have a urinary diversion. In addition, Associate Membership is available to those supporters of the work of the Association who do not have urinary diversion. Associate members are often partners of full members and those with a particular interest in the work of the Association. Associate membership is also open to interested stoma care professionals and to relevant employees of manufacturers and distributors of stoma care products and services

Website

Our website www.urostomyassociation.org.uk is a valuable resource and is an important starting point for highly relevant information and support, before and after surgery, for anyone with a urostomy, continent urinary pouch or neobladder, as well as for family and carers.

Social Media

Our closed Members’ Facebook page has seen significant growth, particularly among younger people. This continues to be an active community of people providing timely support for each other, with almost instant responses to requests for help with issues.

Urostomy Association Journal

Our free magazine, published three times a year, is a full-colour, professionally presented source of information and inspiration for new and prospective members and, equally importantly, for many hundreds of stoma care professionals. A typical edition will contain adverts and news from the manufacturers and distributors of stoma care products/services, as well as articles submitted by both members and medical professionals.

3

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Fund Raising

The Association is registered with the Fundraising Regulator. As a result of the COVID-19 pandemic we have only managed a small number of fundraising events during the year, including an abseil down the National Lift Tower. The Association continues to be indebted to numerous members and friends who provide donations to help its work. In particular, funeral collections and bequests have been an increasingly significant source of income.

Branches

The network of branches which are in place under the umbrella of the Association are an important support mechanism, working in conjunction with local stoma care professionals to create a social hub for members and their partners, as well as providing practical help and emotional reassurance, both pre- and post-op. Wherever possible, our Branches will have a presence at local stoma open days and manufacturers’ ‘road shows’, displaying our banner and distributing literature. Whilst the COVID-19 pandemic has significantly reduced our ability to meet face to face we have held a number of online meetings throughout the year.

The work of the branches is undertaken by a small army of dedicated volunteers and the trustees would like to place on record their thanks to all the Branch Officers for their hard work.

50[th] Anniversary

The Association was set up by Valerie Kings in 1971 and in 2021 we are celebrating our 50[th] year. The COVID -19 pandemic has significantly impacted on our celebration activities and many of our planned events will be deferred until 2022.

FINANCIAL REVIEW

Summary

For the year ended 31[st] March 2021 the Association reported a surplus of £72,865. This includes legacy income of £98,779. Due to the implications of COVID-19 we have not been able to hold regular meetings during the year and as a consequence our income from charitable activities fell by circa £20,200 when compared to last year. However, this was more than offset by a reduction of circa £30,000 in the cost of our charitable activities and in particular Branch meetings, postage, printing and pamphlets. Total funds held by the Association at the year-end were £733,470 which includes restricted funds at £7,000.

Branches have, in prior years, made specific donations to the Association for research and development activities. At the year-end the Association holds £1,000 for these activities within the General Fund.

Investments

During the financial year the Association invested £350,000 with Rathbones Investment Management Limited. The fund is managed by a specialist charity team and they provide our Finance sub-committee with regular investment updates and quarterly performance reports. The investments, which are for the longer term, were substantially made towards the end of the financial year and are reported at market value. Our investment policy is to provide income to support the cost of running the Association with a medium level of risk that will target returns at CPI + 3% over the longer term.

4

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Reserves Policy

The Association has been fortunate to receive a number of legacies during the year. Legacy income cannot be predicted and we continue to rely upon subscriptions and donations as a major source of Income. To give some stability we consider the Association should hold sufficient unrestricted reserves to allow us to operate without significantly reducing our service level for a minimum of 1 year.

Basis of Accounting

These financial statements have been prepared in accordance with the Companies Act 2006, and in accordance with the Charities SORP 2015 (FRS 102).

FUTURE PLANS

During the year we have commenced a full strategic review and we are in the process of formulating short/medium and long term objectives which will be presented to the members for approval in due course.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees (who are also the directors) are responsible for preparing the trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which 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 income and expenditure, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

UROSTOMY ASSOCIATION (Limited by Guarantee)

TRUSTEES AND DIRECTORS REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006.

By order of the board

Hazel Pixley Chief Executive and Company Secretary.

…………………..2021

6

Registered Company number: 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 9 to 16.

Responsibilities and basis of report

As the charity trustees of the company (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 the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’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 company’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 a member of Chartered Certified 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 that in any material respect:

7

UROSTOMY ASSOCIATION (Limited by Guarantee)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES (continued)

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.

Stephen Hole, FCCA Palmer McCarthy, Chartered Certified Accountants Suite 70, Capital Business Centre, 22 Carlton Road, South Croydon, CR2 0BS

……………………………2021

8

Registered Company Number : 6918246

UROSTOMY ASSOCIATION

(Limited by Guarantee)

Statement of Financial Activities for the Year Ended 31 March 2021

Note Unrestricted Restricted Total Total
Funds 31.03.21 Funds 31.03.21 Funds 31.03.21 Funds 31.03.20
INCOME AND ENDOWMENTS FROM: £ £ £ £
Donations and legacies
General Fund 4 146,042 - 146,042 255,922
Branches 10 13,182 - 13,182 12,996
R&D Fund 4 - - - 500
159,224 - 159,224 269,418
Charitable activities
General Fund 5 42,250 - 42,250 54,807
Branches 10 494 - 494 8,150
42,744 - 42,744 62,957
Investments
General Fund 6 2,360 - 2,360 2,008
Branches 10 60 - 60 94
2,420 - 2,420 2,102
TOTAL INCOME 204,388 - 204,388 334,477
EXPENDITURE ON:
Raising Funds
General Fund 7 13,503 - 13,503 15,724
Branches 11 - - - 647
13,503 - 13,503 16,371
Charitable activities
General Fund 8 59,893 - 59,893 77,573
Branches 11 2,393 - 2,393 14,732
62,286 - 62,286 92,305
Governance Costs
General Fund 9 56,905 - 56,905 55,633
Branches 11 - - - 3,247
56,905 - 56,905 58,880
TOTAL EXPENSES 132,694 - 132,694 167,556
NET FUNDS 71,694 - 71,694 166,921
Gain in revaluation of Investments 14 1,171 - 1,171 -
NET MOVEMENT IN FUNDS 72,865 - 72,865 166,921
RECONCILIATION OF FUNDS
£ £ £ £
Total Funds Brought Forward 653,605 7,000 660,605 494,184
Net Movement in Funds 72,865 0 72,865 166,421
Total Funds Carried Forward 726,470 7,000 733,470 660,605

The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006

The notes on pages 12 to 16 form an integral part of these accounts.

9

Registered Company Number : 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee) Balance Sheet as at 31st March 2021

31.03.21 31.03.20
Note £ £
FIXED ASSETS
Office Equipment 13 2,432 4,133
Investments 14 351,171 -
Total Fixed Assets 353,603 4,133
CURRENT ASSETS
Debtors
Debtors due within one year 15 11,120 11,969
Cash at Bank and in hand
Fixed Term Deposits 16 125,000 158,000
Cash at Bank 16 284,297 492,000
Cash in Hand 16 89 98
420,506 662,067
CURRENT LIABILITIES
Creditors due within one year 17 20,389 4,275
Deferred Income 18 20,250 1,320
NET ASSETS 733,470 660,605
THE FUNDS OF THE CHARITY
Unrestricted
General Fund 19 642,915 576,842
Branches 19 83,555 76,763
726,470 653,605
Restricted
Sheffield Branch 19 7,000 7,000
7,000 7,000
TOTAL FUNDS 733,470 660,605

For the year ending 31st March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowlege their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by Directors on …............2021

Brian Fretwell Chairman

Hazel Pixley Company Secretary

10

Registered Company Number : 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee) Cash Flow Analysis for the Year Ended 31 March 2021

31-Mar-21 31-Mar-20
£ £
Central Accounts
Opening Balance at 1st April
(as per detailed schedule) 581,812 434,021
Increase / (Decrease) in Deferred Income 18,930 (1,575)
(Increase) in fixed assets/investments (349,470) (5,104)
Increase / (Decrease) in Creditors 16,114 (15,571)
Decrease / (Increase) in Debtors 849 445
Movement in Funds before Branches 64,082 169,596
Closing Balance at 31st March 332,317 581,812
add : branches 77,069 68,286
TOTAL CASH 409,386 650,098
Note : Analysis of Movement in Net Funds
£ £
General Funds 64,082 38,445
R & D 0 500
Sub-Total : Central Accounts 64,082 38,945
add Branches 8,783 560
TOTAL 72,865 39,505

11

Registered Company Number : 6918246

UROSTOMY ASSOCIATION

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2021

1. Basis of Preparation

1.1 Basis of Accounting

These accounts have been prepared on the basis of historic cost in accordance with:

2. Accounting Policies

2.1 Form of Financial Statements

2.2 Incoming Resources

2.3 Expenditure & Liabilities

2.4 Taxation

The charity is not liable to income or capital gains tax on any of its charitable activities. Irrecoverable VAT is included in the asset cost or expense to which it relates.

2.5 Investments

Investment sare initially recognised at their transaction value and at the balance sheet dare are measured at their fair value using the quoted market price. Realised and unrealised investment gains and losses are combined and reported on the Statement of Financial Activities.

2.6 Tangible Fixed Assets

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all tangible fixed assets:

Office Equipment Straight line over 3 years

3. Transactions with Trustees and Related Parties

31.03.21 31.03.20 £ £ H J Pixley 37,952 36,981

12

Registered Company Number : 6918246

UROSTOMY ASSOCIATION

(Limited by Guarantee) Notes to the Financial Statements for the year ended 31 March 2021

Unrestricted Restricted TOTAL TOTAL
Funds Funds 31.03.21 31.03.20
£ £ £ £
4. Donations and legacies
Subscriptions 28,842 - 28,842 28,403
Donations 18,421 - 18,421 21,326
Legacies 98,779 - 98,779 206,193
146,042 - 146,042 255,922
After the year end an amount of £63,315 was received and the Accounts do not include a provsion for the remaining
legacy as per accounting policy 2.2 (a)
5. Charitable Activities
Fund Raising 562 - 562 10,292
Gift Aid Recovery 7,644 - 7,644 6,470
Journal Advertising 25,868 - 25,868 24,601
200 Club 6,374 - 6,374 6,030
Members Events - - - 3,415
National Annual General Meeting - - - 248
Sponsorship 750 - 750 1,483
Other 1,052 - 1,052 2,268
42,250 - 42,250 54,807
6. Investments
Interest from Bank Accounts & Bonds 1,968 1,968 3,207
Dividends 392 392 -
2,360 - 2,360 3,207
7. Cost of Raising Funds
Fund Raising 761 - 761 2,358
200 Club 3,202 - 3,202 3,375
Staff Costs (Note 12) 9,540 - 9,540 9,991
13,503 - 13,503 15,724
8. Cost of Charitable Activities
Staff Costs (Note 12) 17,846 - 17,846 18,689
Journal Costs 21,421 - 21,421 22,161
Printing and Pamphlets 2,212 - 2,212 7,646
Postage 7,372 11,578
Conference Costs and Travel - - - 2,423
Website 4,351 - 4,351 5,788
Trustee travel and accomodation - - - 1,845
Trustee support expenses 117 - 117 -
Road Show/Open Days - - - 306
Payments on Behalf of Branches 6,574 - 6,574 6,877
Sundries - - - 260
59,893 - 52,521 77,573
9. Governance Costs
Staff Costs (Note 12) 19,626 - 19,626 20,554
Office Costs 10,436 - 10,436 11,850
Volunteer training - - - 1,003
Subscriptions 1,175 - 1,175 2,451
Insurance 1,869 - 1,869 1,757
National Annual General Meeting 3,457 - 3,457 5,247
NEC Meeting Costs 124 - 124 4,694
Trustee travel and accomodation 196 - 196 1,044
Independent Examiner's Fee 2,520 - 2,520 2,280
Accountancy and bookkeeping Fees 3,365 - 3,365 2,224
Legal and professional fees 12,013 - 12,013 -
Investment Management fees 374 - 374 -
Sundry Costs 49 - 49 1,558
Depreciation 1,701 - 1,701 971
56,905 - 56,905 55,633

13

Registered Company Number : 6918246

UROSTOMY ASSOCIATION

(Limited by Guarantee) Notes to the Financial Statements for the year ended 31 March 2021

Unrestricted
Restricted
Funds
Funds
£
£
10. Branches : Income
Donations and legacies
Subscriptions
6,677
-
Donations
6,505
-
13,182
-
Charitable Activities
Fund Raising
494
-
Social Functions
-
-
494
-
Investments
Interest
60
-
13,736
-
11. Branches : Expenditure
Cost of Raising funds
Fundraising costs
-
-
Purchase of Goods
-
-
-
-
Charitable Activities
Donations to main funds
1,250
-
Branch Social Function
(100)
-
Branch Meetings
544
-
Travel
-
Welfare & Visits
93
-
Sundries
-
-
Printing, Postage & Stationery
606
-
2,393
-
Governance Costs
NAGM delegates
-
Secretarial
-
-
-
2,393
-
12. Staff Costs
Salaries
48,694
-
Employer's National Insurance
218
-
Employer's Pension
951
-
Furlough claims
(2,851)
-
47,012
-
No employee received remuneration above £60,000
Average number of full-time equivalent employees in the year
13. Fixed Assets
Office
Cost
Balance brought forward as at 01.04.20
Additions
Carried brought forward as at 31.03.21
Depreciation
Balance brought forward as at 01.04.20
Charge for the year
Carried brought forward as at 31.03.21
Net Book Value
As at 31st March 2021
As at 31st March 2020
 TOTAL
TOTAL
31.03.21
31.03.20
£
£
6,677
7,207
6,505
5,789
13,182
12,996
494
5,758
-
2,392
494
8,150
60
94
-
13,736
21,240
-
470
-
177
-
647
1,250
2,250
(100)
3,281
544
6,115
-
1,328
93
121
-
66
606
1,571
2,393
14,732
-
2,988
-
259
-
3,247
2,393
18,626
48,694
46,903
218
1,091
951
1,240
(2,851)
-
47,012
49,234
31.03.21
31.03.20
2
2
Equipment
5,104
-
5,104
971
1,701
2,672
2,432
4,133
£

14

Registered Company Number : 6918246

UROSTOMY ASSOCIATION

(Limited by Guarantee) Notes to the Financial Statements for the year ended 31 March 2021

14. Investments

Listed In
Cost
Balance brought forward as at 01.04.20
Additions
Revaluation
Carried brought forward as at 31.03.21
Impairment
Balance brought forward as at 01.04.20
Written off / disposals
Carried brought forward as at 31.03.21
Net Book Value
As at 31st March 2021
As at 31st March 2020		 vestments
£
-
350,000
1,171
350,000
-
-
-
350,000
-

Investments are undertaken by a specialist charities team who are part of a UK leading investment and financial planning group. The initial investment was staggered to avoid significant market fluctuations and at the year end cash held within the investment portfolio is reported at £84,664. The cash funds were invested after the year end.

Unrestricted Restricted TOTAL TOTAL
Funds Funds 31.03.21 31.03.20
£ £ £ £
15. Debtors
Journal Advertising 8,815 - 8,815 10,197
Staff Pension Costs - - -
Investment Income 865 - 865 1,045
Prepayments 1,440 - 1,440 727
11,120 - 11,120 11,969
16. Bank and Deposit Balances
Bank Current Accounts 150,522 - 150,522 329,760
Bank Deposit Accounts 56,795 - 56,795 102,052
Fixed Term Deposits 125,000 - 125,000 150,000
Branch Current Accounts 52,913 52,913 45,681
Branch Deposit Accounts 24,067 - 24,067 14,507
Branch Fixed Term Deposits - - - 8,000
Branch Cash 89 - 89 98
409,386 - 409,386 650,098
17. Creditors (payable within one year)
Accruals 10,858 - 10,858 2,280
Accounts payable 8,102 8,102 1,995
PAYE/NIC 1,239 1,239 -
Staff Pension Costs 190 190 -
20,389 - 20,389 4,275
18. Deferred Income
Sponsorship 20,250 - 20,250 -
Members' Weekend 2020 - - 1,320
20,250 - 20,250 1,320

15

Registered Company Number : 6918246

UROSTOMY ASSOCIATION (Limited by Guarantee) Notes to the Financial Statements for the year ended 31 March 2021

19. Movements between Funds

Balance at Income & Expenditure Funds Other Balance at
01.04.20 Endowments Transfer 31.03.21
£ £ £ £ £ £
Unrestricted Funds
General Funds 576,842 190,652 (130,301) 4,551 1,171 642,915
Branch Funds 76,763 13,736 (2,393) (4,551) - 83,555
Restricted Funds
Restricted Fund - Sheffield 7,000 - - - 7,000
660,605 204,388 (132,694) 0 1,171 733,470

16