Registered number: Charity number: 1156340
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Trustees' Responsibilities Statement | 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 12 |
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023
| Trustees | Neil Brown, Trustee |
|---|---|
| Prof Chris Lavy, Trustee | |
| Patrick Allen, Trustee | |
| Mike Thexton, Trustee | |
| Charity registered number 1156340 Registered office 180 - 182 North Gower Street London NW1 2NB Accountants Warrener Stewart Chartered Accountants and Statutory Auditors Harwood House 43 Harwood Road London SW6 4QP |
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of Partners in Medical Care for the 1 January 2023 to 31 December 2023. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small the Strategic Report required of medium and large charities has been omitted.
Structure, governance and management
a. Constitution
Partners in Medical Care is registered as a charitable incorporated organisation (charity number 1156340) and was set up by a Trust deed on 24 March 2014.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Objectives and activities
a. Policies and objectives
The original principal objects of the charity were the relief of sickness and disability and the advancement of the education of medical staff, in resource-poor areas of the world. The principal objects have now been amended, with permission of the Charity Commissioners, to:
To advance any purpose which is recognised as exclusively charitable under English law, and without prejudice to the foregoing, in particular, to promote sustainable development for the benefit of the public and local communities in Sub-Saharan Africa through:
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(1) The relief of poverty and improvement of the conditions of life in socially and economically disadvantaged communities;
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(2) The promotion of sustainable means of achieving economic growth and regeneration; and
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(3) The advancement of education of the public through training and the promotion of employment opportunities. Where ‘sustainable development’ means ‘development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
PARTNERS IN MEDICAL CARE IA Charttable Incorporated Ory•nlMllonl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Obj•Glivg0 4Gtiviti•• IGontknu•d) b. $tr4t•91 lor ichl•vlng obl•ctlv•B ThN r.h4rlty r41AaR fiind8 from rylvat• llldMdualB In ordor io suppon ana assesses oPF•)filbèj lor chantablo oxpondibJr• on a cas¢ by &isè b3&S to achiovo rt6 obJ¢ctsve$. ¢. Grnnt4nthklng poll¢l•• JI apF4icatyons for the mthrwj of grants are reble4d assessed on th& b&siA of Iximpatlbllty with lh• prfnclpal objcctlvos. Achlevements •fid perf0mN¢t a. Golnq Gonc•rn Allv making aprKoprtato 8nqilrtO6. Tru61ees have a reascffi#4o ey¥¢¢lath)n thai the Charliy hag •dequ41 ro90urcc9 to conlnuo In opor4ts"onAI oyi9tonee for th& lor9è44L40 fuluro. for Ihi¥ r••¥on Ih•y conbnu• lo idopl th• galn9 cAnethm ba4lt In pr•pAdty tho flajaI È13twfièrti4. d1& fJgK¥thI9 a¢optsoi) vl Uiv wiy ¢onr•rn ba¥is can bo lound In th• Acuunbng Polic4U. b. R•vlow of aclMtI•s In F•barY 2024. Noil 8rown w811od Ihe Cur• Inlemalional in 8&W&yo. wliii hai rKM op•n•d a n•w wing loi Urth(JpIC pdlienl thildlen The hospi1 rxMliniJ8q to pwform very 3UCGessfully D9 Ihe coursg of 2023, the Trustoe6 havo commwKod w(¥kJrffj vlth tho Th8mbal8zl6 TfU81, a charily bascd In 8Ldawayo which Is ldI&lled to prowding acces5 to educabLal llnd hcntth SaeS for lh• marginali8•d '8quattw camp, ¢ommunrti•8 in th North Tr•nance '81rict of Bulawayo. Tho Trust9¢5 have i¥¥vlv¥U Iv ¥uvyvil Ili¥ Ilwiilb¥l1lw¥ Tiu¥l 111 ¥ I111{ vl kNui¥tsl¥ wiul ¥(#IL4A¥ 111 Ilw wlivji ar expected to ramp up over the course of 2¢f24. Tt5 IndLth bLANng a classrccffi t4ocK lor Tr•nan¢ klr1rTIY &irJKKH WAII 8x v8rKKiA prrytx iii Arwj . Puiidr•l•liig •LllvlllM Ind liicom• g•n•rnllon PpJrtnerB in Medical Cwe has reCved a furIr iityeclion of (urmliry fTDm a family m8mlr DI one of Ihe I rustees In 202J. whith h•s txen 'eir4n•rked tuwards Ihe new prryects In Norlh I renance. I her• ar• wrivriuy ri(J yldrib iwl vxlvirh4 furujrbl1Iy aLlivilivb JI Ilib &llwyli Uiib k¥pl uriTJvr rvviffw. Approved by order ol tho members of the bowd of Trustees l'r behalf by. ITnJ.s1o*1 nATA'
PARTNERS IN MEDICAL CARE IA Charitable In¢orporated Of9•nI•OnI STATEMENT OF TRUSTEES, RESPONSIBILinEs FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees {wha are also th• th'r8¢1018 ol ihe Chan"ty for Ihe wrposes ol C4)mpany lthvl are rèsponsible far prepanng the Trusle8s' R8PL¥i and financi81 slateffthts In &£ordanc8 with applic8tle law Unil•d Kiiiuduri ALcounlir¥d Stan(Jar(15 Iunllad KIW(Hn Generaly A¢JXPted Accountsng Practscgl. company lav requlr•s lh• Trustéès lo prwpAiw 3tal8mwrts tor vach flnanclal yeor. Und4r e¢)mpkhy l¥w. th• I riJxlAx miJAt nnl iFprove the Ilnan¢lal stalem¢nt5 uthss ¥Nli¥fi¥d ttixi a trl and lalr vivw nt the slalc of offolrs of th4 ChAtity ond of iii inc(rfninq r•8oiirr•8 and apicatIon of roGoufco9. indudriiu il¥ Incorno and oxpontjlturo, for mai iénoa. In proponnq Ih•• linwl11 •tJtom•nta. th• TNstèès afè fequtred I S• suitabh COUn1ng wlld08 and th ath Ihom GonslenUy' obs•rvo tho methods pr1P1S uf Clwiili¥¥ SORP IFRS 1021. mak8 iu¢ggment5 ond accounlng •$IMat th arg r•ason•bbg and pru¢Jgnl'. 3tAt• wh•lh•r Wic8bl• UK Ac¢ountsng Stand¥ds IFRS 1021 hav¢ booi Idltrwfd, 3ubjaEI lo any malert d8parlura8 di3th¥¥d anrj explvlned tyi the fffiarKJal statements., yeparo financial slalomonts on tm rjywn bas ft IJ Inappropnte to W•sumo thal th• Chartly will conknnue in tsjsirwss. Th• TnJg1èè• 8r• r•8poniiblo for kewng adoquate accwfttln9 r¢¢orts Ih8181¥ 8urfi(xuiil Iu 8IHw4 e%plAln Ihg Charity'¥ tsari8aLliun¥ arKI disdose wlth reasothJlÉ Arrjirvy Hi Any tlmé th8 fin8nu81 positron ot the Lhanty nd .naNp. thftm In An.siifA IhAI Ih fiiwviJA ¥lalwn¥vit¥ wlth Cwpanl•s Act They ar8 a16 rèJpotlliDI• lof $ièuu•rdiny I nt IhA Lhanty hertt for laklryd reesonobk $l¥pg ili¥ w¥v#nlion IKI 41lU11 ul IiaMI 1 DItr IrYr4JLlarltks. ApFxu¥wI by w¢Jei ol the mmtors of the board of Trustee9 gW•d on iti hy. M5k• Th•xton ITnJ4t•MI 2024 P89È 4
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of Partners in Medical Care ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
Having satisfied myself that the accounts of the Charity 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 the Charity's accounts 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 Charity'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 am a member of Institute of Chartered Accountants in England and Wales (ICAEW), 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:
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accounting records were not kept in respect of the Charity as required by the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: �������������
Colin Edney FCA
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| Note Income from: Donations and legacies 3 Exchange (loss)/gain 4 Interest 5 Total income Expenditure on: Charitable activities Governance costs 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 995,620 (772) 17 994,865 107,249 2,120 109,369 885,496 13,888 885,496 899,384 |
Total funds 2023 £ 995,620 (772) 17 994,865 107,249 2,120 109,369 885,496 13,888 885,496 899,384 |
Total funds 2022 £ 1,375 1,433 2 |
|---|---|---|---|
| 2,810 1,168 (36) |
|||
| 1,132 1,678 12,210 1,678 |
|||
| 13,888 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 12 form part of these financial statements.
PARTNERS IN MEDICAL CARE IA Chrit4ble Incorporthd Ory4nlsallonl REGISTERED NUMBER: BALANCE SHEET A8 AT 31 DECEMBER 2023 2023 2022 Not• Curr•nl 411iiet5 Dobtors Gksh 01 bank and in h8nd 800.120 21,394 •D1,604 13,888 Creditors. amrymls 18lllng wiifin (Th ye Tot•1 net •ssets io 12,1201 899,$14 13.888 Chirlty fvnd• Urii¥¥liitslwl luiiits Ggn•rAI fund8 11 13.888 Tot1 ftsiid .384 1.7 Fs88 Tho Chadty wa6 ¢ntldod to Irgwn •LKhl uthi 477 rA th• Corrwinles Aci 2CTh. Tho mem118 havg not roquirod the eompany to obtAkn An authl for th• ye¥ In questrcffl In aral)G• witli Sactlon 476 of Compani•8 Act 2C(6. The TNstees arnld re$F41.•S wNh lh• rwurnm8nts rf th8 Act wllh r6$p6ci to accountsng ieuHQ¥ Wepratl of finandal stat1•. I hg fln4nc+RI gtAtgm•nlA haw bw w•parod In acoJrdw wth prowjlong ath'cat4• to •nb'ts'?J JubieGI to Ihe small ¢ompanlg5 rggim•. fin¥al staiements were aFwJved find 11¥1*1 for Ill by lh8 TrustO08 ana on thtyr bohDII by.. Mlk• Th•xton Datè.. Z 20 The noteJ on pa3 8 to 12 fom) these fin•nu•l slal•mvrts. Page 7
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. General information
Partners in Medical Care is a charitable incorporated organisation registered in England under the registration number 1156340. Its registered address is 180 – 182 North Gower Street, London NW1 2NB.
Partners in Medical Care also uses the ‘working name’ Partners in Community Care.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) .
Partners in Medical Care 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.
2.2 Going concern
The Trustees consider that it is appropriate to prepare the financial statements on a going concern basis. The going concern premise is based on donations received and pledged in the year of £995,620 which is sufficient to service the Charity's aims for the least the next year.
As a result of the above, the Trustees consider the going concern basis of preparation to be appropriate.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.4 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.5 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 institution with whom the funds are deposited.
2.6 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
2.7 Cash at bank and in hand
Cash at bank and 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.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Donations | 995,620 | 995,620 | 1,375 |
The most significant donation was made in the form of an investment in a dollar fund which was in process of redemption at the year end. The donor declared an irrevocable gift of the funds on 29 September 2023; the proceeds of redemption were received in January 2024. Rather than recognising the value of the investment and fluctuations arising from investment values and exchange rates, this donation has simply been recognised as a debtor at the year end, for the amount in dollars eventually received, translated at the rate ruling on 29 December 2023 (the nearest date for which a spot rate is available).
£992,620 of donation income was received from the Trustees or persons connected to them.
4. Income from foreign exchange
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Exchange gain/(loss) | (772) | (772) | 1,433 |
5. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Investment income - interest on deposits | 17 | 17 | 2 |
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
6. Governance Costs
| Accounting fees Bank charges |
Unrestricted funds 2023 £ 2,100 20 2,120 |
Total funds 2023 £ 2,100 20 2,120 |
Total funds 2022 £ - (36) |
|---|---|---|---|
| (36) |
NatWest has a policy of not charging small charities, and refunded the charges it had levied since the charity’s turnover fell below the bank’s threshold for a small charity. This may not be the case in future because of the substantial donation received into the bank account in January 2024.
7. Analysis of expenditure by activities
==> picture [7 x 12] intentionally omitted <==
| Project costs Project travel |
Project costs 2023 £ 107,249 - 107,249 |
Total funds 2023 £ 107,249 - 107,249 |
Total funds 2022 £ - 1,168 |
|---|---|---|---|
| 1,168 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 December 2023, £20 was accrued as due to one trustee in respect of administrative expenses (2022 – £1,168 reimbursed to one trustee in relation to travelling expenses).
9. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Due within one year | ||
| Other debtors | 880,120 | - |
PARTNERS IN MEDICAL CARE
(A Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
10. Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 20 2,100 2,120 |
2022 £ - - |
|---|---|---|
| - |
11. Statement of funds
Statement of funds - current year
| Unrestricted funds Charitable activities Investment gains Exchange movements Governance costs |
Balance at 1 January 2023 £ 13,888 - - - 13,888 |
Income £ 995,620 17 (772) - 994,865 |
Expenditure £ (107,249) - - (2,120) (109,369) |
Balance at 31 December 2023 £ 902,259 17 (772) (2,120) |
|---|---|---|---|---|
| 899,384 |