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2022-06-30-accounts

Charity no. 1149904

Medic to Medic

Report and Unaudited Financial Statements 30 June 2022

Medic to Medic

Reference and administrative details

For the year ended 30 June 2022

Charity number 1149904
Registered office 7 Shortway
Amersham
Buckinghamshire
England
HP6 6AQ
Trustees Trustees who served during the year and up to the date of this report were
as follows:
Dr Richard Banks resigned 31 July 2021
Dr Bryony Hamel appointed 8 August 2021
David Howells appointed 31 July 2021
Dr Cathy Madden
Dr Adrian Mandeville resigned 30 July 2021
Paul Purcell resigned 1 January 2022
Robin Schreiber Chair - appointed 21 March 2022
Dr David Scott resigned 1 January 2022
Abigail Somerville resigned 7 October 2021
Dr Elizabeth Howard appointed 1 October 2022
Dr Robert Stones appointed 20 August 2022
Chief executive officer Dr Tamsin Lillie
Management committee Dr Cathy Madden
David Howells from 31 July 2021
Bankers Lloyds TSB Bank PLC
286-288 Station Road
Harrow
Middlesex
HA1 2EB
Independent examiners Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

The trustees present their report and accounts for the year ended 30 June 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

On 23 July 2019 the charity was converted to a Charitable Incorporated Organisation (CIO), with the name Medic to Medic and charity number remaining as 1149904 and continued in that same format for all of the present period.

During the year and up to the date of this report, five trustees resigned, and five trustees were appointed – details of these resignations and appointments can be found on page 1 of these accounts.

The management committee who served during the period, were:

Management committee members are elected or appointed on an annual basis, with officers being elected from the membership of the trustees.

The management committee has assessed the major risks to which the charity is exposed and is satisfied that systems are in place to mitigate exposure to the major risks.

Objectives and activities

Medic to Medic believes that access to healthcare is a human right but is unequal both between and within nation states. Shortage of trained healthcare professionals is a major driver of such inequalities.

Public benefit statement

The trustees confirm that they have had regard for the Charity Commission guidance on public benefit when reviewing the charity’s aims and objectives.

Achievements and performance

It is the policy of the charity that all funds are used for furtherance of its objectives.

The attached financial statements show the current state of finances. Overall income was £121,194 and overall expenditure was £121,939 leaving a small excess of expenditure over income of £745.

This is this first time in our history that both income and expenditure exceeded £100,000.

2

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

Last year students only attended one semester due to Covid 19 restrictions, this year their programme returned to the normal two semester format, so expenditure increased accordingly.

Our cash balance at the end of the year was £51,952 which compares with a cash balance of £53,227 at the end of the previous year.

The charity’s bankers are Lloyds Bank plc located at Harrow, Middlesex.

Review of charitable activities

The Chief Executive Officer, Dr Tamsin Lillie, writes:

During 1 July 2021 – 30 June 2022 Medic to Medic supported a total of 99 individuals, across 14 colleges in Malawi and a further 4 students within Africa. This is a huge milestone for our organisation and is the first time that we have supported over 100 students at any one time.

Our student community included 17 medical students, 8 physiotherapy students, 6 pharmacy students, 2 medical laboratory science students and 1 palliative care nurse, training at the Kamuzu University of Health Sciences (formally known as the College of Medicine); 12 nursing & midwifery students and 2 optometry students training at Mzuzu University; 14 clinical officers, 3 registered nurses and 1 pharmacy certificate student training at Ekwendeni College of Health Sciences; 12 students training in mental health at St John of God College – 6 in the diploma of psychosocial counselling and 6 in clinical medicine/psychiatric nursing; 6 radiographer students, 1 dental therapy student, 1 pharmacy diploma student and 1 clinical medicine student training at the Malawi College of Health Sciences; 3 nursing students training at Kamuzu College of Nursing; 5 students training as nurse midwife technicians with 2 students at St Johns Institute for Health, and 1 each at Nkhoma Mission College, Mulanje Mission College and Trinity Nursing College. 1 student training in biomedical engineering at the Malawi Polytechnic; 1 audiology student at the African Bible College; and 1 medical imaging student studying at Malawi University of Science and Technology.

Our students outside of Malawi consisted of 1 postgraduate student completing the Master of Paediatrics in Ethiopia; 1 dentist training at the University of Nairobi and 2 medical students, 1 in Zambia and the other in Uganda. 20 of our community graduated, bringing the total number of alumni to 172.

This year saw a substantial step forward to increasing our sustainability in Malawi. I was in the country for 8 months setting up our local administration and formulating Malawian based fundraising initiatives. We became registered as a limited company in Malawi in November 2021 and became fully operational from 1 July 2022. It was a necessary criteria to be able to register with the council of non-governmental organisations (CONGOMA) and the NGO board. 5 of our alumni made the commitment of being trustees to help facilitate these administration processes. We have an office base in Blantyre where we employ one full time administrator, two security guards, 1 gardener and 1 cleaner. This has enabled us to provide employment in areas where there are high levels of poverty and have helped secure individual family incomes.

3

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

Our office base has provided us opportunities to develop local fundraising initiatives. These include providing relaxation massages with our physiotherapy graduates once per week, opening a second hand medical textbook shop, where excess book donations are sold at low cost to the student community at large, reducing barriers to necessary resources for medical education. There are also two guest bedrooms where we can provide quiet and safe accommodation for overnight guests, which also houses our visiting team during in country visits. Our alumni have been instrumental in helping us move forward and all are encouraged to donate 500 MK (50p) back to Medic to Medic per month (6,000 MK per year (£6)) to help our community grow. As our alumni expands, this will be a useful sustainable funding source to continue supporting the next generation of health workers within Malawi. We are continuing to develop commercial partnerships and have already been successful in providing health checks to FDH bank in exchange for fundraising donations.

In April 2022 we conducted our annual graduate survey with an alumnus Martha Kilowe who has gone on to undertake further training in Monitoring and Evaluation with the Catholic University of Malawi. Similarly to previous years we have continued to identify the ripple effects of providing financial support to disadvantaged students; 88% of graduates provide financial support in the form of school fees to their children or other relatives in secondary or tertiary education; 10% of graduates own a house; 46% of graduates own a car and 77% of graduates have financial responsibilities which include taking care of extended families (outside of school fees).

With the help of a specific donation, given to support leadership through reforestation projects, we started a student led initiative called “Medic to Medic Environmental Action.” Climate change is having and will continue to have a detrimental impact on health outcomes for people globally, but more so in countries such as Malawi that are already vulnerable. These impacts will directly affect our graduate alumni working on the frontlines in Malawi, with limited resources and access to equipment. In January 2022 we asked our students, who would like to get involved in tree planting initiatives within their local communities in order to improve and develop their leadership skills. They were asked to lead the identification of an area for reforestation within their village; lead the discussions of these projects with the villagers and village chief, and to cost the project – given a minimum of 50 trees.

These leadership projects have been so successful that we formed an Environmental Action WhatsApp group for students to share knowledge and ideas, the students have elected a subcommittee and designed a logo for the group and run their own Environmental Action Facebook page. Following leadership project completion, students were required to write a short report, fill out an online survey at 6 months and visit a fellow students’ forest to learn from their experience and build friendships for the future. During 2022, 16 students undertook leadership projects; 2,540 trees were planted, and 1,875 trees survived at the 6 month survey. These leadership initiatives are valuable and help us develop students with leadership abilities, that will be useful on the ground in Malawi in the future.

There have been numerous changes to our small teams. We said goodbye to trustees in the UK and New Zealand including, Nick Mandeville, David Scott, Paul Purcell, Gaurav Gupta, Chaminda Gunawardana and also said goodbye to our UK based office manager Nadia Panait. We did however welcome Elizabeth Howard, William Stones and Anisha Palanivelu Vishwanathan to their respective boards. We are grateful to all individuals for their contributions in helping Medic to Medic progress with our charitable mission, more especially Nick Mandeville who has been involved with Medic to Medic since its foundation.

4

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

As the world opens up again, in the year ahead we hope to develop an elective programme alongside our graduate alumni. These will be unique opportunities for overseas students to visit Malawi and work alongside one of our alumnus. Additionally, we are in the process of constructing a Nanny first aid course and corporate first aid course for families and businesses in Malawi - more ways to increase health literacy with the help of our alumni whilst fundraising at the same time. We also hope to develop an additional student led side initiative to undertake School Talks – with students and alumni providing career talks and motivational speeches to students at primary and secondary school to encourage them with their education. Additionally, we will be setting up Walani, a psychosocial support helpline for students in Malawi. We look forward to sharing with you the progress of this initiative when the time comes.

Thank you for walking this journey with us. We hope you are encouraged by the progress we have made this year and will continue to support us as we venture in the future supporting the next generation of health workers where they are needed most.

Financial review

The results below show the total income and total expenditure for the last three financial periods.

Total income
Total expenditure
Net income / (expenditure)		 Total 2022
Total 2021
Total 2020
£
£
£
121,194
98,891
83,665
121,939
67,245
90,876
(745)
31,646
(7,211)

The key things to note are:

The results below show the net assets comparison for the last three years:

Stock
Debtors
Cash at bank and in hand
Creditors: amounts falling due within 1 year
Net assets		 Total 2022
Total 2021
Total 2020
£
£
£
-
320
320
18,059
9,029
148
51,952
53,227
30,222
(9,680)
(1,500)
(1,260)
60,331
61,076
29,430

5

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

The key things to note regarding net assets are:

The table below shows the total charity funds status for the last three years:

Restricted finds
Designated funds
General funds
Total funds		 Total 2022
Total 2021
Total 2020
£
£
£
20,213
7,690
9,640
9,000
9,000
6,000
31,118
44,386
13,790
60,331
61,076
29,430

The key things to note regarding total charity funds are:

Effects of the COVID-19 pandemic

The on-going pandemic continued to affect some of our special fund-raising events. Similar to December last year, our annual Christmas concert at St Mary’s Church in Paddington (potential profit £0.9K) did not take place, and Transport for London did not allow us to book slots for carol singing at London tube stations (potential profit £0.3K). However Danielle Solomon, the conductor of the St Mary’s choir, did manage to book a slot at Paddington main railway station for 12 December 2021, and she and her small team gave a good rendering of many Christmas favourites, raising a total of £120.

The situation for outside sporting events was more encouraging, as there were fewer restrictions imposed. The Vitality Half Marathon took place on 22 August 2021, having been postponed from the previous year. We had a number of runners, who between them raised a total of £1,170. Two of these runners were Malawian students who were attending postgraduate training courses in London. The London Marathon took place on 03 October 2021, again having been postponed from the previous year. We had two runners who were very successful in raising considerable funds: Preetham Boddana (£2,408) and Chloe Charles (£781). The Ride London cycle event (potential profit £0.8K) was postponed a couple of times, and then finally cancelled altogether.

6

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

Gift aid claims

The last successful gift aid claim was made on 20 August 2020 for £2,580. No other claims have been submitted in the subsequent period up to 30 June 2022, because it was necessary for Medic to Medic to re-register with HMRC due to the conversion of the charity to a CIO, from a company limited by shares, in July 2019. To facilitate this process the treasurer trustee applied to The Cooperative Bank to open a new account, which will be used to receive our gift aid claim refunds; it commenced operation on 15 March 2022. Re-registration with HMRC was successfully completed by our volunteer Sheena Jagjiwan towards the end of the financial year in May - June 2022. Total amounts of unpaid claims of £8,856 for period August 2020 - June 2021, and £9,203 for the period July 2021-June 2022.

Big Give Appeal

After a successful initial participation last year in this important fundraising event, the charity was keen to take part again. The target for the total amount of pledged donations was slightly increased to £3,500 from £3,000 last year, and this total was reached without difficulty. This completed step allowed our campaign to put itself forward for champion funds, which are offered by a group of philanthropists organised by the Big Give Appeal, one of whom chooses a charity whose need appeals to them, and they will then match the pledged funding pot with an equal amount. However, unlike last year, we were not successful in attracting a suitable philanthropist to provide matching funds, which was a big disappointment considering the effort that had gone into obtaining so many willing pledgers. However the separate online appeal conducted during the week 30 November - 07 December 2021 raised a total of £3,509 this year. The overall total raised during the campaign this year was £8,213.

Reserve policy

We have an existing policy to build up a reserve fund of £12,000 by the end of our next financial year, which would be sufficient to see our cohort of students through to graduation in the unfortunate event of the winding up of the charity. Our reserve fund balance stood at £9,000 at the end of the year. The target amount of £12,000 was estimated a few years ago; due to the gradual increase in overall student numbers, that Medic to Medic support, it is planned to review this figure, to see if it needs to be increased further in the future.

7

Medic to Medic

Report of the trustees

For the year ended 30 June 2022

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity 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 charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 14 February 2023 and signed on their behalf by

D W Howells

David Howells - Trustee

8

Independent examiner's report

To the trustees of

Medic to Medic

I report to the trustees on my examination of the accounts of Medic to Medic (the CIO) for the year ended 30 June 2022, which are set out on pages 10 to 20.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts 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:

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.

Laura May Richards

Date: 14 February 2023 Laura Richards ACA Member of the ICAEW For and on behalf of:

Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

9

Medic to Medic

Statement of financial activities

For the year ended 30 June 2022

Note
Income from:
Donations
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
6
Net income / (expenditure)
Transfers between funds
Net movement in funds
7
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted
£
39,371
-
-
39,371
-
27,080
27,080
12,291
232
12,523
7,690
20,213		 Unrestricted
£
77,827
3,991
5
81,823
5,307
89,552
94,859
(13,036)
(232)
(13,268)
53,386
40,118		 2022
Total
£
117,198
3,991
5
121,194
5,307
116,632
121,939
(745)
-
(745)
61,076
60,331		 2021
Total
£
93,200
5,688
3
98,891
3,391
63,854
67,245
31,646
-
31,646
29,430
61,076

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 14 to the accounts.

10

Medic to Medic

Balance sheet

As at 30 June 2022

Note
Current assets
Stock
10
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
12
Net assets
13
Funds
14
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 2022
£
-
18,059
51,952
70,011
(9,680)
60,331
20,213
9,000
31,118
60,331		 2021
£
320
9,029
53,227
62,576
(1,500)
61,076
7,690
9,000
44,386
61,076

Approved by the trustees on 14 February 2023 and signed on their behalf by

D W Howells

David Howells - Trustee

11

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in 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) and the Companies Act 2006.

Medic to Medic 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 note(s).

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. At 30 June 2022, the charity holds total unrestricted reserves of £40,118 and a cash balance of £51,952. The trustees consider that the charity has sufficient cash reserves, confirmed future funding and sufficient control over expenditure to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

12

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies (continued)

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of direct costs, as follows:

2022 2021
Raising funds 4% 5%
Charitable activities 96% 95%

h) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

i) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

k) Financial instruments

The charity 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 recognised at amortised cost using the effective interest method.

l) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. All gains and losses arising from foreign currency translation are treated as unrestricted.

13

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

1. Accounting policies (continued)

m) Accounting estimates and key judgements

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are foreign currency revaluation as described in note (l) above.

2. Prior period comparative: statement of financial activities

Income from:
Donations
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds		 Restricted
£
£
24,951
68,249
-
5,688
-
3
24,951
73,940
-
3,391
26,983
36,871
26,983
40,262
(2,032)
33,678
82
(82)
(1,950)
33,596
Unrestricted		 2021
Total
£
93,200
5,688
3
98,891
3,391
63,854
67,245
31,646
-
31,646

14

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

3. Income from donations

Regular giving
Grant income
Fundraising donations and appeals
Other donations
Gift aid
Prior period comparative
Regular giving
Grant income
Fundraising donations and appeals
Gift aid
Other donations
Income from other trading activities
Sales of donated goods		 Restricted
£
£
2,570
35,932
23,961
1,400
5,784
16,731
4,526
17,091
2,530
6,673
39,371
77,827
Restricted
£
£
996
34,962
16,850
4,000
4,435
11,323
-
11,436
2,670
6,528
24,951
68,249
2022
Restricted
Total
£
£
£
-
3,991
3,991
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
38,502
25,361
22,515
21,617
9,203
117,198
2021
Total
£
35,958
20,850
15,758
11,436
9,198
93,200
2021
Total
£
5,688

4. Income from other trading activities

All income from other trading activities in the prior year was unrestricted.

5. Government grants

The charity did not receive any government grants in the current or prior year.

15

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

6. Total expenditure

Medical equipment
Governance costs
Fundraising
Sub-total
Total expenditure
Prior period comparative
Medical equipment
PPE equipment
Governance costs
Fundraising
Sub-total
Total expenditure
Allocation of support and governance
costs
Tuition fees, allowances and study
support tools
Programme coordination
Tuition fees, allowances and study
support tools
Programme coordination
Allocation of support and governance
costs		 £
-
-
-
-
4,844
4,844
463
5,307
£
-
-
-
-
-
3,272
3,272
119
3,391
Raising
funds
Raising
funds		 £
£
83,492
-
5,069
-
17,897
-
-
10,637
-
-
106,458
10,637
10,174
(10,637)
116,632
-
£
£
52,277
-
611
-
366
-
8,360
-
-
2,359
-
-
61,614
2,359
2,240
(2,359)
63,854
-
Charitable
activities
Support and
governance
costs
Charitable
activities
Support and
governance
costs		 2022
Total
£
83,492
5,069
17,897
10,637
4,844
121,939
-
121,939
2021
£
52,277
611
366
8,360
2,359
3,272
67,245
-
67,245

16

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

7. Net movement in funds

This is stated after charging:

Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
�Independent examination (including VAT)		 2022
£
Nil
Nil
1,680		 2021
£
Nil
Nil
1,500

8. Staff costs and numbers

The charity has no paid staff. The key management personnel of the charity comprise the trustees, none of whom were remunerated in the current or prior reporting period.

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10. Stock

African scrubs
11. Debtors
Prepayments
Gift aid accrual
12. Creditors: amounts due within 1 year
Accruals		 2022
£
-
2022
£
-
18,059
18,059
2022
£
9,680		 2021
£
320
2021
£
173
8,856
9,029
2021
£
1,500

17

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

13. Analysis of net assets between funds

13. Analysis of net assets between funds
Current assets
Current liabilities
Net assets at 30 June 2022
Prior period comparative
Current assets
Current liabilities
Net assets at 30 June 2021
14. Movements in funds
£
Restricted funds
Student support
2,457
Medical equipment
2,733
Hurst essay prize
-
Computer equipment
2,500
Transport of books
-
Accommodation expenses
-
Total restricted funds
7,690
Designated funds
9,000
General funds
44,386
Total unrestricted funds
53,386
Total funds
61,076
At 1 July
2021
Unrestricted funds		 £
20,213
-
20,213
£
7,690
-
7,690
£
31,534
1,941
500
2,281
2,515
600
39,371
-
81,823
81,823
121,194
Restricted
funds
Restricted
funds
Income		 £
9,000
-
9,000
£
9,000
-
9,000
£
(17,181)
(2,686)
(500)
(4,962)
(1,100)
(651)
(27,080)
-
(94,859)
(94,859)
(121,939)
Designated
funds
Designated
funds
Expenditure		 £
40,798
(9,680)
31,118
£
45,886
(1,500)
44,386
£
-
-
-
181
-
51
232
-
(232)
(232)
-
General
funds
General
funds
Transfers
between
funds		 £
70,011
(9,680)
Total
funds
60,331
£
62,576
(1,500)
Total
funds
61,076
£
16,810
1,988
-
-
1,415
-
At 30 June
2022
20,213
9,000
31,118
40,118
60,331

18

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

14. Movements in funds (continued) Purposes of restricted funds Student support To cover student tuition fees and other education costs. Medical equipment To supply medical equipment packs for the supported physiotherapy, nursing and medical students.

Hurst essay prize Annual competition open to all supported students to write an essay about a general health question.

Computer equipment To purchase laptops to be used by medical students which the charity supports.

Transport of books To cover the costs of both surface and sea freight for transporting medical books. Accommodation expenses Accommodation expense fund is used on those occasions when a grant or donation is given where there is a specific request for accommodation for medical students whilst studying in cities, away from their home village.

Purposes of designated funds

The designated funds are to ensure the charity has sufficient funds to see the current cohort of students through to graduation in the unfortunate event of the winding up of the charity.

Transfers between funds

The transfers to restricted funds are to top up overspends on the funds from general funds.

19

Medic to Medic

Notes to the financial statements

For the year ended 30 June 2022

14. Movements in funds (continued)
£
Restricted funds
Student support
3,729
Medical equipment
2,411
Hurst essay prize
-
PPE
-
Computer equipment
3,000
Transport of books
500
Total restricted funds
9,640
Designated funds
6,000
General funds
13,790
Total unrestricted funds
19,790
Total funds
29,430
At 1 July
2020
Unrestricted funds
Prior period comparative		 £
19,071
640
700
40
4,500
-
24,951
-
73,940
73,940
98,891
Income		 £
(20,343)
(318)
(700)
(122)
(5,000)
(500)
(26,983)
-
(40,262)
(40,262)
(67,245)
Expenditure		 £
-
-
-
82
-
-
82
3,000
(3,082)
(82)
-
Transfers
between
funds		 £
2,457
2,733
-
-
2,500
-
At 30 June
2021
7,690
9,000
44,386
53,386
61,076

15. Related party transactions

The trustees and CEO donated a total of £3,440 (2021: £3,710) to the charity during the year.

20