2022-04-05-accounts - Pain Relief Foundation

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Management and Committees
Legal and Administrative information
Report ofthe Trustees
Pain Relief Foundation Aims and Policies
Chronic Pain
Research and the Institute
Research Accommodation			10
Management Structure & Governance
Risk Management &assessment			12
Trustee Recruitment			12
Advisory Sub-Committees
Grant Making &Policies			14
Public Benefit			15
Powers ofInvestment & Investment	Policy		16
Reserves			17
Fundraising Regulator &our fundraising		promise	18
Donation Policy			20 to21
Statement ofTrustee Responsibilities			22
Clinical Section &Education			23to 25
Research Reports			25 to 28
Audi tor*s Report			29ro 33
Statement ofFinancial Activities			34
Balance Sheet			35~o36
Notes forming part ofthe Financial Statements			37ia 44
Detailed statement ofFinancial Activities			45 ro46

								5.4.22	5.4.21
					Unrestricted	Restricted		Total	Total
					funds	fund		funds	funds
				Notes		8		6	2
INCOME AND ENDOWMENTS			FROM
Donations and legacies				3	159,392	25,000		184,392	113,694
Other trading activities Investment income				4 5	4,254 89,475			4,254 ~89475	5,874 78,887
Total					253,121	25,000		278,121	198,255
EXPENDITURE ON
Raising funds
Other trading activities				6	14,677			14,677	14,398
Investment management		costs		7	12,469			12/69	11,476
					27,146			27,146	25,874
Charitable activities				8
Research					412,687		401	413,088	380,831
Education					5,759			5,759	8,397
Total					445,592		401	445,993	395,102
Net gains on investments					254,619			254,619	415,190
NET INCOME					62,148	24,599		86,747	218,343
RECONCILIATION OF		FUNDS
Total funds brought	forward				2,939,310	1,044		2,940,354	2,722,01I
TOTAL FUNDS CARRIED FORWARD					~3,001458	~25	643	~3027101	2,940,354

				5A.22	5.4.21
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes	5	6	8	2
RXEDASSETS
Tangible assets	11	71,916	1,201	73,117	86,496
Investments	12	~2949283		~2949283	2,805,265
		3,021,199	1,201	3,022,400	2,891,761
CURRENT ASSETS
Stocks	13	700		700	776
Debtors Cash at bank and in hand	14	9,558 ~20799	~24 492	9,558 ~45291	11,433 63428
		31,057	24,492	55,549	95,637
CREDITORS
Amounts falling due within one year	15	(50,798)	(50)	(50,848)	(47,044)
NET CURRENT ASSETS		~19741)	~24442	4,701	46,593
TOTAL ASSETSLESSCURRENT	LIABILITIES	3,001,458	25,643	3,027,101	2,940,354
NETASSETS		3,001,458	25,643	3,027,101	2,940,354
FUNDS	17
Unrestricted funds:
General fund				31,380	73,654
Designated unrestricted				~2970078	~2865,456
				3,001,458	2,939,310
Restricted funds:
Restricted fund				25,643	1,044
TOTALFUNDS				~3027 101	2940 354

The designated fund represents	sums set	sums set	aside,	out of unrestricted	out of unrestricted	funds, to meet the ongoing cosh	ofthe chair
ofProfessor ofPain.
						2022	2021
Investment income:						6	6
Interest received						2,908	2,849
Dividends						86,564	76,039
Realised gains on investments	sold					100,175	2,683
Unrealised gain on revaluing investments			to market		value
Total designated income						1S9,647	81,571
Less:
Realised loss on sale of investments
Unrealised proW(loss) on revaluing		investments		to	market value	154,444	412,507
						(12,469)	(11,475)
Expenditure out ofdesignated funds Transfer of net expenditure to General Fund						~227000	~23000
Net designated (expenditure)/income						104,622	459,602
ACCOUNTING POLICIES

				5.4.22	5.4.21
				6
	Gifts			89,086	43,172
	Gift aided donations			29,047	4,446
	Tax recovered	on gift aided donations		7,262	1,099
	Legacies			58,530	64,977
	Sundry income			467
				~184 392	113,694
4.	OTHER TRADING ACTIVITIES
				5.4.22	5.4.21
				6
	Books leaflets	tapes		145
	Sponsorships			100	60
	Meeting fees			~4009	5,614
				4,254	5,674
5.	INVESTMENT	INCOME
				5.4.22	5.4.21
				K
	Rents received			2	(I)
	Listed invesbnents			~89473	78,888
				89,475	78,887
6.	OTHER TRADING ACTIVITIES
				5.4.22	5.4.21
					6
	Purchases			76
	Staff costs			14,601	14398
				14,677	14,398
7.	INVESTMENT	MANAGEMENT	COSTS
				5.4.22	5.4.21
	Porffolio management			~12 469	11,476

					Grant
			Direct		funding of	Support
			Costs 2		activities 2	costs f	Totals 2
Reseamh Education			68,255 487		282,658	62,175 ~5272	413,088 ~5759
			~68	742	~282 658	~67447	~418847
NET INCOME/(EXPENDITURE)
Net income/(expenditure)			isstated afier charging/(crediting):
						5.4.22	5.4.21
						6
Auditors'	remuneration					5,000	5,000
Auditors'	remuneration		for non audit work			3,340	3,640
Depreciation -		owned assets				13,379	16,749
Other operating		leases				3,975	6,475
Surplus on disposal of			fixed assets			~1186)

TANGIBLE FIXEDASSETS
			Fixtures
	Long	Plant and	and
	leasehold	machinery	fittings	Totals
			E	2
COST
At6April 2021 and 5April 2022	114,302	204/$3	324,487	~643 192
DEPRECIATION
At 5 April 2021	68,256	167,111	321,329	556,696
Charge for year	3,265	9,324	790	13,379
At 5 April 2022	~71 521	~176 35	~322119	~570075
NET BOOK VALUE
At 5 April 2022	~42 781	~27 968	~2368	~73117
At 5 April 2021	46,045	37,292	3158	85496

FIXEDASSET INVESTMENTS
	Listed
	investments
MARKET VALUE
At6 April 2021	2,805,265
Additions atcost	222,186
Disposals at book cost	(232,612)
Revaluations	154,444
At 5April 2022	~2949,283
NET BOOK VALUE
At 5April 2022	2,949.283
At 5 April 2021	2,805,255

						Listed
						investments
						E
	Valuation	in	2022			154,444
	Cost					~2794 839
						~2949,283
13.	STOCKS
					5.4.22	5.4.21
						E
	Finished goods				700	775
14.	DEBTORS:		AMOUNTS	FALLING DUE WITHIN ONE YEAR
					5.4.22 f	5.4.21 E
	Tax				7,262	1,099
	Prepayments		and accrued income		2,296	10,334
					9,558	11,433

CREDITORS:	AMOUN	TS	FALL	ING DUE WITHIN	ONE YEAR
							5.4.22	5.4.21
							f	E
Bank loans and	overdrafls		(see	note 16)			11,493	508
Social security	and other		taxes				123	159
Accruals and deferred		income					~39232	45,377
							~50 848	47,044
LOANS
An analysis ofthe maturity			ofloans is given below:
							5.4.22	5.4.21
Amounts falling	due within		one year on demand:
Bank overdrafts							~11 493	508
MOVEMENT IN FUNDS
						Net	Transfers
						movement	between	At
					At6.4.21 8	in funds f	funds 8	5.4.22 E
Unrestricted funds
General fund Designated unrestricted				73,854 ~2865 6		(269,474) ~331622	227,000 ~227 000)	31,380 ~2970078
					2,939,310	62,148		3,001,458
Restricted funds
Restricted fund					1,044	24,599		25,643
TOTALFUNDS				~2940354		~86747		~3027101
Net movement	in funds,	included		in the above are	as follows:
					Incoming	Resources	Gains and	Movement
					resources E	expended 5	losses f	in funds 8
Unrestricted funds
General fund					163,649	(433,123)		(269,474)
Designated unrestricted					89,472	~12469)	254,619	331,622
					253,121	(445,592)	254,619	62,148
Restricted funds
Restricted fund					25,000	(401)		24,599
TOTAL FUNDS					~278 121	~445993)	~254 619	~86 747

		Net	Transfers
		movement	between	At
	At 6.4.20 f	in funds f	funds f	5.4.21 f
Unrestricted funds
General fund Designated unrestricted	314,579 2,405,854	(263,725) 482,602	23,000 ~23,000)	73,854 2,865,456
	2,720,433	218,877		2,939,310
Restricted funds
Restricted fund	1,578	(534)		1,044
TOTAL FUNDS	2,722,011	218,343	-	2,940,354

Comparativ	e net movement in funds,	included in the above are a	s follows:
		Incoming	Resources	Gains and	Movement
		resources f	expended f	losses f	in funds f
Unrestricted funds
General fund		119,367	(383,092)		(263,725)
Designated	unrestricted	78,888	~tt,476)	415,190	482,602
		198,255	(394,568)	415,190	218,877
Restricted	funds
Restricted	fund		(534)		(534)
TOTAL FUNDS		198,255	(395,102)	415,190	218,343

A current y	e	ar 12months and prior y	ear 12months combined po	sition isas follo	ws:
				Net	Transfers
				movement	between	At
			At 6.4.20 f	in funds f	funds f	5.4.22 f
Unrestricted		funds
General fund			314,579	(533,199)	250,000	31,380
Designated		unrestricted	2,405,854	814,224	~250,000)	~2970,078
			2,720,433	281,025		3,001,458
Restricted		funds
Restricted	fund		1,578	24,065		25,643
TOTAL FUNDS			2,722,011	305,090		3,027,101

				5.4.22	5.4.21
				E	E
INCOME AND	ENDOWMENTS
Donations and	legacies
Gifts				89,086	43,172
Gift aided donations				29,047	4,446
Tax recovered	on gift aided		donations	7,262	1,099
Legacies				58,530	64,977
Sundry income				467
				184,392	113,694
Other trading activities
Books leaflets tapes				146
Sponsorships				100	60
Meeting fees				4,009	5,614
				4,254	5,674
Investment income
Rents received				2	it)
Listed investments				~89473	78,888
				89,475	78,887
Total incoming	resources			278,121	198,255
EXPENDITURE
Other trading activities
Purchases				76
Wages				14,100	13,900
Social security				343	350
Pensions				158	148
				14,677	14,398
Investment management			costs
Portfolio inanagement				12A69	11,476
Charitable activities
Wages				50,675	48,980
Social security				1,543	1,631
Pensions				1,584	1,484
Student essay costs					75
venue &meeting costs				2,468	4,353
Sundry				278	661
Depreciation of	tangible	lixed assets		13,380	16,750
Loss on sale of	tangible	lixed assets		(t,186)
Grants to individuals				282,658	228,920
				351,400	302,854

			5.4.22	5.4.21
			E	5
Support costs
Management
Other operating leases			3,975	5,475
Rates and water			17,54S	17,505
Insurance			2,571	2,422
Telephone			1,047	959
Postage and stationery			1,791	1,559
Advertising			7,611	4,094
Sundries			235	577
Travel			501
Computer software			1,352	955
Credit card charges			261	309
			36,892	34,855
Finance
Bank charges			150	188
Information technology
Repairs and renewals			5,056	8,134
Governance costs
Wages			15,800	15,000
Social security			370	412
Pensions			634	594
Auditors' remuneration			5,000	5,000
Auditors' remuneration		for non audit work	3,340	3,840
Postage and stationery			205	195
Legalfees				155
			25,349	25,197
Total resources expended			445,993	395,102
Net expenditure before		gains and lasses	(167,872)	(198,847)
Realised recagnised	gains and losses
Net investment gains/	(losses)		~100175	2,883
Net expenditure			~67697)	~194184)

Pain Rellef Foundation