2023-04-05-accounts - Pain Relief Foundation

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C ON	T	EN TS
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			12
Risk Management &assessment			13
Trustee Recruitment			13
Advisory Sub-Committees			14
Grant Making &Policies			15
Public Benefit			16
Powers ofInvestment & Investment	Policy		17
Reserves			18
Fundraising Regulator &our fundraising		promise	19
Donation Policy			20to 21
Statement of Trustee Responsibilities			22
Clinical Section & Education			23 to 26
Research Reports			26 to28
Auditor's Report			29 to 31
Statement ofFinancial Activities			32
Balance Sheet			33 to34
Cash Flow Statement			35to 36
Notes forming part ofthe Financial Statements			37to 44
Detailed statement ofFinancial Activities			45 to 46

Costs for 50%oft	he Chairin Pain Science,	University	ofLiverpool.	ofLiverpool.
Dr Maria Maiaru	'Targeting ion channels	to combat	pathophysiology of		663,140
Reading	chemotherapy-induced	peripheral	neuropathy	(over 3years)
Dr Anne Marshall	'REliabilily ofHRDD as	a biomarkerin Painful		diabeti
Liverpool	cnEuropathy -a validation study		(REPEL)		525,763
	(Over 8months)

						5.4.23	5.4.22
				Unrestricted	Restricted	Total	Total
			Notes	funds f	fundf	funds	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies			3	373,501		373,501	184,392
Other trading activities				42,523		42,523	4,254
Investment income				95,054		95,054	89,475
Total				511,078		511,078	278,121
EXPENDITURE ON
Raising funds
Other trading activities			5	14,837		14,837	14,677
Investment management	costs		7	12017		12,017	12,469
				26,854		26,854	27,146
Charitable activities			8
Research				469,382	300	469,682	413,088
Education							5,759
Total				496,236	300	496,536	445,993
Net gains/(losses) on investments				$151,442)		$151,442)	254,619
NET INCOME/(EXPENDITURE)				(136,600)	(300)	(136,900)	86,747
RECONCILIATION OF	FUNDS
Total funds brought forward				3,001,458	25,643	3,027,101	2,940,354
TOTAL FUNDS CARRIED FORWARD				2,864,858	25,343	2,890,201	3,027,101

					5.4.23	5.4.22
			Unrestricted	Restricted	Total	Total
		Notes	funds f	fund 5	funds	fundsf
FIXEDASSETS
Tangible assets		14	61,366	901	62,267	73,117
Investments		15	2,695,242		2,695,242	2,949,283
			2,756,608	901	2,757,509	3,022,400
CURRENT ASSETS
Stocks		16	662		662	700
Debtors		17	(3,724)		(3,724)	9,558
Cash at bank and	in hand		179,314	24,442	203,756	45,291
			176,252	24,442	200,694	55,549
CREDITORS
Amounts falling due within one year		18	(68,002)		(68,002)	(50,848)
NET CURRENT ASSETS			108,250	24,442	132,692	4,701
TOTAL ASSETS	LESSCURRENT		2,864,858	25,343	2,890,201	3,027,101
LIABILITIES
NET ASSETS			2,864,858	25,343	2,890,201	3,027,101
FUNDS		20
Unrestricted funds:
General fund					141,987	31,380
Designated unrestricted					2,722,871	2,970,078
					2,864,858	3,001,458
Restricted funds:
Restricted fund					25,343	25,543
TOTAL FUNDS					2,890,201	3,027,101

				Notes	5.4.23	5.4.22 f
Cash flows from operating		activities
Cash generated from operations				1	(39,408)	(243,957)
Finance costs paid					(340)	(261)
Tax paid					12,051	~6,163
Net cash used in operating	activities				(27,595)	(250,381)
Cash flows from investing		activities
Purchase offixed asset investments					(71,543)	(222,186)
Sale oftangible fixed assets						1,186
Sale of5xed asset investments					174,142	332,787
Interest received					2
Dividends received					95,052	89,473
Net cash provided by investing			activities		197,553	201,260
Change in cash and cash
equivalents in the reporting		period			189,958	(49,121)
Cash and cash equivalents		at	the
beginning ofthe reporting		period		2	33,798	82,919
Cash and cash equivalents		at	the
end ofthe reporting period					203,755	33,798

							5.4.23	5.4.22
	Net (expenditure)/income			for the reporting	period (as per
	the Statement ofFinancial			Activities)			(136,900)	86,747
	Adjustments for:
	Depreciation charges						10,850	13,380
	Losses/(gain) on investments						151,442	(254,619)
	Profit on disposal of	fixed assets						(1,186)
	Interest received						(2)
	Finance costs						340	261
	Dividends received						(95,052)	(89,473)
	Decrease in stocks						38	76
	Decrease in debtors						1,231	8,038
	Increase/(decrease)		in creditors				28,647	~7,181
	Net cash used in operations						~39,406)	(243,957)
2,	ANALYSIS OF CASH AND			CASH EQUIVALENTS
							5.4.23	5.4.22
							6	f
	Cash in hand						4	4
	Notice deposits (less		than 3	months)			203,752	45,287
	Overdrafts included	in bank		loans and overdrafts		falling due within		(11,493)
	one year
	Total cash and cash		equivalents				203,756	33,798

ANALYSIS OF C	HANGES IN NET FUN	DS
		At 6.4.22	Cash flow	At 5.4.23
		f	6
Net cash
Cash at bank and	in hand	45,291	158,465	203,756
Bank overdraft		{11,493)	11,493
		33,798	169,958	203,756
Total		33,798	169,958	203,756

costs ofthe chair ofProfess	of Pai	n.
						2023	2022
investment income:
Interest received						1,709	2,908
Dividends						93,342	86,564
Realised gains on investments	sold					(3,267)	100,175
Unrealised gain on revaluing	investments			to market value
Total designated income						91,784	189,647
Less:
Realised loss on sale ofinvestments
Unrealised profit/(loss) on revaluing		investments			to market value	(148,175)	154,444
						(12,017)	(12,469)
Expenditure out ofdesignated Transfer ofnet expenditure to	funds General		Fund			~178SOD	~227 DDO
Net designated (expenditure)/income						(247,207)	104,622
ACCOUNTING POLICIES

3.	DONATIONS AND LEGACIES
			5.4.23 f	5.4.22 f
	Gifts		68,197	89,086
	Gift aided donations		5,846	29,047
	Tax recovered on gift aided donations		(4,789)	7,262
	Legacies		303,436	58,530
	Sundry income		811	467
			373,501	184,392
4.	OTHER TRADING ACTIVITIES
			5.4.23 F	5.4.22 f
	Fundraising events		950
	Books leaflets tapes		133	145
	Sponsorships		6,217	100
	EFICCancer School		31,173
	Meeting fees		4,050	4,009
			42,523	4,254
5.	INVESTMENT INCOME
			5.4.23	5.4.22 f
	Rents received			2
	Listed investments		95,052	89,473
	Deposit account interest		2
			95,054	89,475
6.	OTHER TRADING ACTIVITIES
			5.4.23 f	5.4.22 f
	Purchases		63	76
	Staff costs		14,774	14,601
			14,837	14,677
7,	INVESTMENT MANAGEMENT	COSTS
			5.4.23 f	5.4.22 f
	Portfolio management		12,017	12,469

CHARITA	BLE ACTIVITIES CO	STS
			Grant
			funding	of
			activities		Support
		Direct	(see note		costs (see
		Costs	9)		note 10)	Totals
		F			6	8
Research		106,646	291,932		71,104	469,682
GRANTS	PAYABLE
					5.4.23	5.4.22
					6	f
Research					291,932	282,658

SUPPORT
				Information	Governance
	Management			Finance	technology	costs
		Totals
			F		6
Research	39,671		329	5,251	25,853	71,104

			5.4.23	5.4.22 f
Auditors'	remuneration		5,000	5,000
Auditors'	remuneration	for non audit work	3,340	3,340
Depreciation - owned assets			10,850	13,379
Other operating leases			6,426	3,975
Surplus	on disposal of	fixed assets		~1,186)

TANGIBLE FIXEDASSETS
			Fixtures
	Long	Plant and	and
	leasehold F	machinery f	fittings	Totals F
COST
At 8 April 2022 and 5 April 2023	114,302	204,403	324,487	643,192
DEPRECIATION
At 6 April 2022	71,521	176,435	322,119	570,075
Charge for year	3,266	6,992	592	10,850
At 5 April 2023	74,787	183,427	322,711	580,925
NET BOOK VALUE
At 5 April 2023	39,515	20,976	1,776	62,267
At 5 April 2022	42,781	27,968	2,368	73,117

FIXEDA	SSET INVESTMENTS
		Listed
		investments
		F
MARKET	VALUE
At 6 April	2022	2,949,283
Additions	at cost	71,543
Disposals at book cost Revaluations		(177,409) $148,175)
At 5 April	2023	2,695,242
NET BOOK VALUE
At 5April	2023	2,695,242
At 5 April	2022	2,949,283

Valuation	in	2023
Cost

16.	STOCKS
								5.4.23 f	5.4.22 f
	Finished goods							662	700
17.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE					YEAR
								5.4.23 f	5.4.22 f
	Tax							(4,789)	7,262
	Prepayments		and accrued		income			1,065	2,296
								(3,724)	9,558
18.	CREDITORS:		AMOUNTS		FALLING DUE WITHIN ONE YEAR
								5.4.23	5.4.22
								f
	Bank loans	and overdrafts			(see note 19)				11,493
	Social security		and other taxes						123
	Accruals and deferred			income				68,002	39,232
								68,002	50,848
19.	LOANS
	An analysis	of	the maturity		ofloans is given below:
								5.4.23	5.4.22
								f
	Amounts falling due within				one year on demand:
	Bank overdrafts								11,493
20.	MOVEMENT	IN FUNDS
							Net	Transfers
						movement		between	At
					At 6.4.22	in	funds	funds	5.4.23
					f.			f	f
	Unrestricted	funds
	General fund Designated unrestricted				31,380 2,970,078	(68,193) ~6$,4D7)		178,800 $178,800)	141,987 2,722,871
					3,001,458	(136,600)			2,864,858
	Restricted funds
	Restricted fund				25,643		(300)		25,343
	TOTAL FUNDS				3,027,101	J136,9DD)			2,890,201
									Continued	..

Net movem	ent in funds, included	in the above are as fo	llows:
		Incoming	Resources	Gains and	Movement
		resources f	expended f	losses f	in funds f.
Unrestricted funds
General fund		416,026	(484,219)		(68,193)
Designated	unrestricted	~95 052	(12,017)	(151,442)	(68,407)
		511,078	(496,236)	(151,442)	(136,600)
Restricted	funds
Restricted	fund		(300)		(300)
TOTAL FUNDS		511,078	(496,536)	(151,442)	(136,900)

			Net	Transfers
			movement	between	At
		At 6.4.21 f	in funds f	funds f	5.4.22 f
Unrestricted funds
General fund		73,854	(269,474)	227,000	31,380
Designated	unrestricted	2,865,456	331622	~227,000)	2,970,078
		2,939,310	62,148		3,001,458
Restricted	funds
Restricted	fund	1,044	24,599		25,643
TOTAL FUNDS		2,940,354	86,747		3,027,101

Comparativ	e net movement in fu	nds, included in the ab	ove are as foll	ows:
		Incoming	Resources	Gains and	Movement
		resources f	expended f	losses f	in funds f
Unrestricted funds
General fund		163,649	(433,123)		(269,474)
Designated	unrestricted	89,472	~12,469)	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	(445,993)	254,619	86,747

			Net	Transfers
			movement	between	At
		At6.4.21	in funds f	funds f	5.4.23 f
Unrestricted funds
General fund		73,854	(337,667)	405,800	141,987
Designated	unrestricted	2,865,456	263,215	~405,800)	2,722,871
		2,939,310	(74,452)		2,864,858
Restricted	funds
Restricted	fund	1,044	24,299		25,343
TOTAL FUNDS		2,940,354	~50,153)		2,890,201

A current the above	year 12 months and pri are as follows:	or year 12 months com	bined net mov	ement in fund	s, included
		Incoming	Resources	Gains and	Movement
		resources 6	expended	losses f	in funds 6
Unrestricted funds
General fund		579,675	(917,342)		(337,667)
Designated	unrestricted	184,524	(24,486)	103,177	263,215
		764,199	(941,828)	103,177	(74,452)
Restricted	funds
Restricted	fund	25,000	(701)		24,299
TOTAL FUNDS		789,199	(942,529)	103,177	(50,153)

				5.4.23	5.4.22
				5	6
INCOME AND	ENDOWMENTS
Donations and	legacies
Gifts				68,197	89,088
Gift aided donations				5,846	29,047
Tax recovered	on gift aided donations			(4,789)	7,252
Legacies				303,436	58,530
Sundry income				811	467
				373,501	184,392
Other trading activities
Fundraising events				950
Books leaflets tapes				133	145
Sponsorships				6,217	100
EFIC Cancer School				31,173
Meeting fees				4,050	4,009
				42,523	4,254
Investment income
Rents received					2
Listed investments				95,052	89,473
Deposit account interest				2
				95,054	89,475
Total incoming	resources			511,078	278,121
EXPENDITURE
Other trading activities
Purchases				63	76
Wages				14,300	14,100
Social security				306	343
Pensions				168	158
				14,837	14,677
Investment management			costs
Portfolio management				12,017	12,469
Charitable activities
Wages				54,393	50,675
Social security				1,057	1,543
Pensions				1,684	1,584
Venue &meeting costs				37,473	2,468
Sundry				1,189	278
Depreciation of	tangible	fixed assets		10,850	13,380
Loss on sale of	tangible	fixed assets			(1,186)
Grants to individuals				291,932	282,558
				398,578	351,400

			5.4.23f	5.4.22f
Supportcosts
Management
Other operating leases			6,426	3,975
Rates and water			17,505	17,548
Insurance			2,974	2,571
Telephone			1,117	1,047
Postage and stationery			2,936	1,791
Advertising			5,252	7,611
Sundries			1,002	235
Travel			852	501
Computer software			1,267	1,352
Credit card charges			340	261
			39,671	36,892
Finance
Bank charges			329	150
Information technology
Repairs and renewals			5,251	5,056
Governance costs
Wages			16,600	15,800
Social security			239	370
Pensions			674	634
Auditors' remuneration			5,000	5,000
Auditors' remuneration	for	non audit work	3,340	3,340
Postage and stationery				205
			25,853	25,349
Total resources expended			496,536	445,993
Net income/(expenditure)		before gains
and losses			14,542	(167,872)
Realised recognised Net investment gains/	gains and losses (losses)		J3,267)	100,175
Net income/(expenditure)			11,275	~67,697)

Pain Relief Foundation