European Diabetology A COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS For the year ended 31 August 2023 Company Registration No 08652560 Ch8rity No 1156725
European Diabetology (A company limited by guarantee) LEGAL ANDADMINISTRATIVE INFORMATION TRUSTEES AND MANAGEMENT COMMIThEE Prof M K Rutter (Chairl Dr R Loos Prof E Pearson Prof B Ahren S Tweddell Prof K Gillespie SECRETARY M L Harris COMPANY NUMBER 08652560 REGISTERED CHARITY NUMBER 11 $6725 REGISTERED OFFICE 2ND Floor 1 The Squ8re Temple Quay 8nslol 8S16DG PRINCIPAL OFFICE Level 3 Learning & Re8earch Building Soulhmead Ho8pilal Soulhmead Road Weslbury-On-Trym Bristol BS10 5NB BANKERS 8arclays Bank PIC 15 Qugen Square Bri8101 BS1 4NP INDEPENDENT EK4MINER RSM UK Tax and Accounting Limilgd Chartered Accounlanls Davidson House Fgrbury Square Reading Berkshire RG1 3EU
European Diabetology (A company limited by guarantee) TRUSTEES, REPORT The Trustees present their report and unaudited financial statements for the year ended 31 August 2023. The financial sl8lemenls have been prepared in accordance with the accounting polic1e3 sel out In the note6 to the accounts and comply with the Companies Act 2006 and Accounting and Reporting by Chafilies.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 second edrtion - October 2019. STRUCTURE, GOVERNANCE AND MANAGEMENT European Diabetology is a company limited by guarantee (Company Rogislralion No 086525601 wrth charitable slalus ICh8rily No 11567251. The company was registered with Companies House on 15 August 2013. The governing document of the organisalion is ils Memorandum and Arti¢l¢$ of Association dated August 2013 and modified in March 2014. The Trustees, who are also the directors for the purpose8 01 company law, who held office during I yèar and up lo the dale of signature of the financial 81alemenl8 were 88 follows.. Prol M K Ruller Dr R Loo8 Prof E Pe8rson Prof B Ahren S Tweddell Prof K Gillespie The day-lo-day management of the eharrty is carried out by thè Truslèas, who are appointed by a resolution of the Trustees from a ndIdate, or candidates, nominated in writing by the European Association for the Study of Diabetes. The number ol Trustees shall not be les8 than three but shall not be subject lo any maximum The Trustees hold olfice for three years and are then eligible for r8appoinlmenl lor a further three years. Tha indu¢lign proces¥ for any newly appointed Trustee corllprise8 an initial meeting with the Chairman and the Board, followed by a series of short meelin98 regarding power8 onLI responsibilities of the Trustee Board. MEMBERS, LIABILITY Exh member of the charitable company undertake5 to contribute lo the assets of the charitable company in the event of il being wound up while they are a member, or within one year after they cease lo be 8 member, such amount a8 may be requid, not exceeding £1, for the dèb18 and liabilities contracted before they eeased lo be a member. RELATED PAR TY TRANSACTIONS In ils commitment lo advance the education regarding diabetes, European Diabelology 1$ primarily supportive of the joumal Diabelologia and ils associated society, the European Association forthe study of Diabetes IEASDI. This may be In the form of financial grants but also professional benevolence. EASD is the charity's primary beneflary and the charity maInS open lo a$$i$ting ils various outreach Inrtialiveg. OBJECTIVES AND ACTIVITIES The chanly's obiecls are specificalty reslricled to advancin9 the education of the public in general land particularly among scienlisls and he81thcare prolessionalsl on the subieel of diabetology. This is lo be achieved by, bul not limited to, the promotion of research for the public benefit in all aspects of that subject and lo publish the useful resuf(s. In this year, the charity supported the EASD'S Young Academy with a grant, enablin9 20 applicants lo lake a place on ils new Early Career Mentorship programme. 11 also took an active role in the ongoing negotiation ol Diabetologia's contract with publisher Springer Natu, with the aim of best seNing ils staff, 8ulhory and readership in view of the Charity objecl.
European Diabetology (A company limited by guarantee) TRUSTEES. REPORT The Trustees confim that they have complied with the duty in section 4 of the Charilie¥ Act 2011 to have due rggard lo public benefit guidance published by the Charity Commission, ACHIEVEMENTS AND PERFORMANCE The charity has supported the advancement of education on the Bubjecl of diabetes by 5UPPOrting the publication of the journal Diabelologi8 and the webs118 Diapedia, in particular by funding their editorial aclivilies. The Tru51ees have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the future 8clivilies of the Charity. FINANCIAL REVIEW To181 income for the financi81 year was £702,711 12022.. £644,149>. Oulgoings and other gainsllosses for the same yearwere £939,91912022. £4S3,7291 creating an annual dehcrt of £237,20812022.' SUfpIu3 £190,420>. Total funds carried forward into the new linancial year 8re £1,170,41512022.. £1.407,6231. INVESTMENT POLICY During the year, the ¢harily maintained a multi-assel fund with Schrod8rs. As the charrty's Inveslmonl advisors, they ar& instructed to inve811o maximise 10181 relum within the con5trainls of a lower level fisk portfolio. The investment brief is broadly defined, bul investments in compan5 that have positive sccial, environment and ethical con$id¢ralions are held or pursued. RESERVES The Trustees examined the requirementa for free res983 in November 2023 8nd agreed that, given the natu of the work and current oulslanding decisions on expenditure, this should bg approximately £450,000. This includes the equivalent 016 months, running costs ol Diabelologia lo allow for an ordedy wind-down of the aclivilies of the journal in the evenl of interruption of income from Springer. 11 also provide8 8 conlingeney against changes in the terms agreed with the University of 8rislol in relation lo the hosting ol Diabelologia. 11 also gives adequate working capital lo support quality improvement in Diabelologi8. Therefore, the Trustee8 have decided 10 8armark £450,000 lo a separate designated fund for clarity within thè Iinancial slalgmenls. The reserves as of 31 Augu812023 are £1,170,415 {2022.' £1,407,623) PLANS FOR FUTURE PERIODS The charity plans lo continue 8UPPOrting the activities of Di8betologia and to fund new inilialives that setve lo develop diabetes educalion in the scientific, medical and wider community as well as improve the quality of the journal's output and marketing, when finances permit. RISK MANAGEMENT The Trustees consider the main risk lo the future of the charity lo be the funding provided, wilhoul this the charity would not be able to provide support for the publication ol the journal Diabelologia. The Trustees have a publishing agreement in place with Springer Nature lo receive royalties annually and work closely with EASD and the jDurnal's Edilor-in-chief lo ensure Ihe financial forecast is secured. THIRD PARTY INDEMNITY PROVISION FOR TRUSTEES Qualrfying third party indemnity provision is in place for the benefit of all Trustees of the charitable company.
European Diabetology (A company limited by guarantee) TRUSTEES, REPORT SMALL COMPANY PROVISIONS Th18 report has been prepared in accordance with the provisions 8pplicable lo compani98 8nlilled to the small companie8. exempli(Jn. On behalf of the board of Tru8tse8 Prof M K Rutter TRUSTEE Date,. H 22, 2cJl
European Diabetology (A company limited by guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the directors of European Diabelology for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial slalemgnt5 in accordance with appluble law and Untled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare finan¢io1 $lalemenls lor each financial year which give true and fair view of the stale of affairs of the Charitable company and of the income and expenditure of the charitable company for that period. In pparing these financial slalemenls, the Trustees are required to.. select ¥uilobb aGcounling policies and then appty them con8islenlly', obsetve the method8 and principles in the Charities SORP., make judgment8 8nd accounting estimates Ihal are reasonable and prudent., slate whether applicable UK accounting standards have been followed, subject lo any malerial departures di8closed and exp18ined in the financial slalemenls., and ppare the financial Statements on the going concern basis unless il li Inappropri8le lo presume that the charitable company will ¢onlirnue in business. The Trusteès are r&spon$ible for keepin9 proper accounting record8 that disclose with reasonable accuracy al any time the financial position of the charrtable company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for Safeguarding the assets of the Charitable company and hence taking re88onable steps for the prevgnlion and detection of fraud and other irregularils. The Trustee8 are responsible lor the mainl•nance and inlegrily of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom goveTning the pr¢paral)n and di8seminalion of financial $lalemenl¥ may differ from legislalKJn in other jurisdictions,
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EUROPEAN DIABETOLOGY I report lo the Trustees on my examination of the financial 5ts1emenls of European Diabetolc•Jy for the year ended 31 August 2023, which are sel out on pages 7 10 16. Responslbllltles and ba818 of report As the Trustees of the company land also ils directors for the purposes of company lawl you are responsible for the preparalion ol ihe financial slalemenls in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the financial statements of the company aw not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I pOrt in respect of my 8xaminalion of your charity's financial statemen15 as carried out under section 145 of the Charities Act 20111'lhe 2011 A¢l'l. In earrying out my exarninalion I have followed tho directions given by the Charity Ctsrnmission under section 14515llbl of the 2011 Act. An independent examination does not invOe gathering all the evidence that would be required in an audit and consequently does not cover all the mallers that an auditor considers in giving their opinion on the financial slalemenls. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can prOve. Consequently, l express no opinion a$ lo whether the financial 9talement3 present a 'lrue and lair view, and my report is limited lo Ihose specific mallers set out in the independent examinerf8 slalemenl, Indepondènt examlner's 8tstom8nt Since the compony's gross income exceeded £250,000 your examiner musl be a m•mbgr of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member of The Inslilule of Chartered Accounlanls In England and Wales, which is one of the listed bodie8. I have completed my ex8min81ion. I confim that no molerial mallers have come lo my allenlion in connection with the gxaminalign giving me reasonable cause lo believe that in any material respect,. accounting records were not kept in re8pecl of the company as requirod by section 386 01 the 20CÉ Act., or tha financial $tatemtrn15 do not accord with those records., or the lin8ncial 81alements do not comply with the accounting requirements of section 396 of the 2006 Act other than any raquiremènl that the accounts give a 'true and fair view, which is not a matter Considered as part of an independent examination". or the financial stal8menls have not been prepared in accordance with the methodg 8nd Pfineiples of the Slalemenl of Recommended Praclic8'. Accounting and Reporting by Charities applicable lo charities preparing their financial slal8menl in accordance with the Financial Reporting Standard applicable in the UK and Ireland IFRS 1021. I have no concern5 and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding ol the financial slalemenls lo be reached. KERRY GALLAGHER FCA The Institute of Chartered Accountants in England and Wales Chartered Accountant ON BEHALF OF RSM UK TAXAND ACCOUNTING LIMITED Charter8d Accounlanls Davidson House The Forbury Reading RG1 3EU Dale. 23105124
European Diabetology (A company limited by guarantee) UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES (including an Incom8 and Expenditure Account) for the year ended 31 Au U812023 Unreslricled funds Total funds Totsl funds 2023 2023 2022 INCOME FROM. Note Chorilable activities Investments 682.931 19,780 682.931 19.780 625,401 18,748 TOTAL 702,711 702,711 644,149 EXPENDITURE ON.. Charrtable activities 1908,8751 1908,875) 1445,1281 TOTAL 1908,8751 1909,2551 1445,1281 Nel bsses on inve81m8nt8 131,0441 <31,0441 {8,8011 NET IEXPENDITUREIIINCOME AND NET MOVEMENT IN FUNDS 1237,2081 1237,2081 190,420 RECONCILIATION OF FUNDS Tol81 funds brought fotward 811 September 1,407,623 1.407,623 1.217,203 TOTAL FUNDS CARRIED FORWARD AT 31 AUGUST 13 1,170,41 S 1,170,415 1,407,623 All adivilies are cla88ed a8 continuing and w•re unrestncled in the current and prevu5 year.
Company Registration No. 08652560 European Diabetology (A company limited by guarantee) UNAUDITED BALANCE SHEET as al 31 Augu512023 2023 2022 FIXED ASSETS Inveslmants 506,240 517,504 506,240 517,504 CURRENT ASSETS Debtors Cash al bank and in hand 10 294 932,650 329 1,319,442 932,944 1,319,771 CREDITORS.. Amounts falling due within one year 1268.7691 1429,6521 NET CURRENT ASSETS 664.175 890,119 NET ASSETS 1,170.415 1,407,623 FUNDS.. Unr¢$lri¢led fund8 Designated funds 13 13 720,415 450,000 957,623 450,000 1.170,415 1,407,623 For the year ended 31 August 2023, the company was entitled to exemption from audit under $ecli¢n 477 of the Companio$ Acl 2006 relating lo sm811 companie8 and Ils members have nol required the company lo have 8n audit of ils financial slalemenl$ for the period in question in accordance with section 476. The directors acknowledge their respon8ibililies for complying with the rgquiremenls of the Act with respect to accounting records and the preparation of financial Slalements. These financiol slalemenl8 have been prepared in 8¢¢ordgnce with the provisions applicable lo companies subject lo the small companies, regime. The fi'nancial Stslemenls on pages 7 10 16 were approved and authorisod for issue by Ihg officers on and signed on their behalf by.. TRUSTEE
European Diabetology (A company limited by guarantee) UNAUDITED STATEMENT OF CASHFLOWS For thfj year ended 31 August 2023 Notes 2023 2022 Cash lused inllprovided by operating a¢livilies 15 1386,7921 444,539 Change in cash in the year 1386,792) 444,539 Tol81 cash brought fopward 1,319,442 874,903 Total cash carried foNard 932,650 1,319,442
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCIAL STATEMENTS for the year ending 31 August 2023 ACCOUNTING POLICIES CHARITY INFORMATION European Diabelology is a private company limited by guarantee and incorporated in England and Wales The registed office is Fltrjr, 1 The Square, Temple Quay, Bristol, BS16DG. European Diabelology meets the definition of a public benefit entity under sectlon 34 of FRS 102. The princip81 objectives of the charrty are dgtailed in the Tru8lees' report on page 2 of Ihesefinancial slalements. The charity is a company limf(ed by guarantee. The members of the company are the Iru8lees named on page 1. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the enlily. ACCOUNTING CONVENTION The a91$ have been prepaT8d in accordance with the Slalernenl of Recommended Practice., A¢¢ounling antj Reporting by ch9rlleg preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 second edition October 2019 and Financial Reporting Standard applicable in Ihe United Kingdom and Republic ol Ireland IFRS 1021 and the Companies Act 2006. The aOuntIng policigs as disclosed have been 8pplied consislenlly throughout the currenl and preceding year. The accounts are prepared under the historical ¢osl convention with the exception of fixed a88et investments which are held at lair value. The financial staiemenls presented in 8lerling which 18 Ihe functional currency ol the Gompany. Monotary amounts in Ihe$e financial 8lalemen18 are rounded lo the neaffjsl £. GOING CONCERN The Iruslees have reviewed the expected cash outflows for the rhorily og¥in81 gxpecled cash inflows and asset8 held for 12 months from the approval gf these financial slalemenls. The Iruslees consider that there are no material uncertainties about the charity's ability lo continuo 85 a going concorn. and therefore have concluded that il is appropriate lo use the going concern basis In the preparation of these accounts. FUND ACCOUNTING Unrestricted funds are available for USB at the discretion of the trustees in furtherance of thè general obieclivg5 of the Charity and have not been reslricled for othèr purposes. Designalod lunds are sel aside by the Iruslee8 to be spent on specrfic purpos95 as ils own discretion. The deSnated funds currently in the financial slalemenls relate lo approximately 6 months, running costs of Diabelologia. INCOME Income from charrtable activrties Is recogni5ed when the charity is enlilled lo Ihe income, it 18 Probab that the inc(xne will be r1ved, and the anw)unl of income can be measured reliably. Investsnent income is accounted for in the accounting period in which il is receivable.
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCIAL STATEMENTS for the year ending 31 August 2C123 ACCOUNTING POLICIES ICONTINUEDI EXPENDITURE Liabilrties are recognised as resources expended as soon as there is a legal or eonslruclive obligatn commilling the charity lo the expendrture. All expenditure Is 8ccounled for on an accruals basis and has been classified under heatJing5 that aggregate all costs related lo the category. Charitable expendrtuw comprises costs incurred by thé charity in delivery ol ils activities and objective8. It includes both costs directly 811ribulgble lo aclivilies ond indirect costs neces8ary lo support them. Governance costs include Ihc6e costs a88ocialed wrth meeting the con$lilutional and slalulory requirements of the charity and include independent examination fees and costs linked lo the strategic management ol Ihe charity. GAINS AND LOSSES All gains and losses are laken lo the statement of financial activities a8 they 8rise. Realised gain8 ond losses on investments are calculated as the difference be&¢n sales proceed5 and their opening carrying value orlheir purchase value if acquired subsequent lo the first day of the financial year. Unre81ised gains and losses a c81culaled as tha difference bee8 the fair value al the year end and their carry1ng value. R¢alisgd ond unrealised Inveslmenl gains and108se8 are combined in the slalemenl of financial activities. INVESTMENTS Investments are a fomi of basic financial instrument and are initially measured at their Ir8nsaction value and subsequently mèasured al their fair valuè as al the balan¢e sheet dole using the closing quole(I price. The statement ol financial aclivilieg inGludfjs Iho nel gains and losses arising on revaluation and disposals throughout the year. The market value of investrnenls held in the portfelios are reprosenled within unr8stricl8d fund8 and the Income portfolio is included within the unreslricled di8lribulion fund accordingly. FINANCIAL INSTRUMENTS As the chanly only has basic financial inslrumenls, il has elected lo apply the provi8ion8 of Section 11 'Basic Finanei81 Inglrumenls. of FRS 102, to all ol ils financial instrurnenls. Financial instruments are recognised when the charity becomes party to the contractual provislons of the inslrumenl. Financial assets and IBbilrties areoffset, with the nel amounts presented in the financial stalemenl5, when there is a legally enforceable right10 Sel off the recognised amounts and there Is an intention 10 8ettk on 8 net basis or to realise the asset and settb the liability simultaneously. Basio finanGial assets Basic fi'nancial assets, which include other debtors and cash and bank balances, are rneasud at transaction price including transaction costs. Classificatn of financial I18.111S Financial liabilities and equrty instruments are classified according to the Substan of the onlractual arrangements entered into. An equity Instrument is any contract that evidences a resKlual interest in the 855ets of the charity after deducting all of its Iiabilrties. 11
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCNL STATEMENTS for the year ending 31 August 2023 ACCOUNTING POLICIES (CONTINUED} Basic financial liab11$ Bas financial liabilities, including accruals are recctyJni$ed al transactv)n price. TAK4TION The charity meets the delinrtion of a charrtable company for UK corporation tax purp08e8. Accordingly. the charity 18 partially exempt from taxation in respect of income or capital gains lo the extent that such income or gains arg applied exclusively lo charitablé purposes. FOREIGN CURRENCIES Assets and liabilrties in foroign currencies are translated into sterling al the rates ol exchange ruling at the balance sheet dale. Transactions In forgign currencies are translated into sterling al the r8le of exchange wling al the dale of the transaction. Exchange differenees arè taken into account in arriving al the nel Income for the year. INCOME FROM CHARITA8LE ACTIVITIES Unffj$lri¢t•d fund8 Total funds Total funds 2023 2023 2022 Promotion of medical research 882,931 682,931 825,401 During the current and prior year, all the income from charitable activitie8 was ceIVed from markets outside the UK bul wrthin Europ¢ INCOME FROM INVESTMENTS Unreslricled fund8 Tot81 funds Total funds 2023 2023 2022 Dividend income 19,780 19,780 18,748 12
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCIAL STATEMENTS for the year ending 31 August 2023 ANALYSIS OF CHARITABLE EXPENDITURE Unreslrieled Unrestricted funds funds Aclivilie5 Support undertaken C0818 directly (Note 51 Total lund$ Total fvnds 2023 2023 2023 2022 Promotion of medical re8èafch 897,869 11,006 908,875 445,128 897,869 11,008 908,875 445,128 The promotion ol Fnedical research cos18 in the year Includes £422,358 of costs relating lo the year ended 31 Augu812022 which have nol been reflected in the linancNI slalemenls for that year. ALLOCATION OF SUPPOR T AND GOVERMANCE COSTS Support Govem8nce CO818 C0818 Total Total 2023 2023 2023 2022 Accountancy cost8 Bank charges Independent examinallon fee8 8,108 748 8.108 748 2,150 e.855 18 1,280 2,150 8,856 2,150 11,OC6 10,151 RECOGNISED GAINSIILOSSESI Unre$lricted fvnds Total funds Total funds 2023 2023 2022 Unrealised gainslllo88es} on inve8lment8 Inole 91 131.0441 131,0441 18,8011 131.0441 131,0441 18,6011 TRUSTEES The Trustees neither reiVed nor waived any emoluments from the charity during Ihe year12022.. £nill. No Trustees receive(I paymenls12022." nil) in respect of travel ¢0$15 reimbursed. The Trustees are considered to be the key management personnel of the chanty. 13
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCIAL STATEMENTS for the year ending 31 Augu$l 2023 EMPLOYEES European Diabetology has no employegs. The pgrsonnel areempbyed by The Univ8r8ty of Bristol, who recharge these costs lo th& charity. INVESTMENTS 2023 2022 Valuation al 1 September Additions Unrealised108s on inveslmanls 517,504 19.780 131,044} 507,357 18,748 18,6011 Valuation al 31 Augu81 506,240 517,504 Th• ¢hority hold8 invgslments in a multl-888et fund with Schroders. 10 DEBTORS 2023 2022 Prepayments Other debtors 158 136 210 119 294 329 11 CREDITORS.. Amoun18 falling Llue wrthin one year 2023 2022 Accruals gnd deferred income 268,769 429,652 288,769 429,652 Included in the above is £23S,30012022.. £211,17910l deferred income. This is in relation to the remaining annual amount due from the publishing agreement. All deferred income from 2022 has boen released to the statement of finanual acliwtie$ In the CunI year. 12 FINANCIAL INSTRUMENTS 2023 2022 Equity instruments measured al fair value 506,240 517.504 14
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUDITED FINANCIAL STATEMENTS for the year ending 31 August 2023 13 MOVEMENTS IN FUNDS Nel gainsl 1108sesl on Income Expenditure investrnonts A131 August 2023 Ali September 2022 Unfftslricled fund5 Oesignated funds 957.623 450,000 702,711 1908,8751 {31,0441 720,415 450,000 1,407,623 702,711 (908,8751 131,0441 1.170,415 Nel gain81 Ilossesl on Income Expenditure investments A131 August 2022 A11 Septemb•r 2021 Unwslricled funds De$ign4led lunds 767,203 450,000 844,149 1448.1281 18,6011 957,623 450,000 1.217.203 644.149 1448.1281 18,6011 1,407,823 No reslricled fund8 were received In tho year. The Trustees have decitjed lo ¢Jesign8le approximately 6 months, running costs of Diabelologia. Thi8 would albw for an orderly wind-down ol the activities of the iournal in the event of interruption of income from Springer. The fund8 remain unreslncted and c8n be 8penl al the Trustees, di8Cf81ion. 14 ANALYSIS OF NET ASSETS 8ErnEEN FUNDS Total Total Unreslricled Unrg8lricled Funds Fund8 Year ended 31 August 2023 Year ended 31 August 2022 Fund b81ances al 31 August are repre88nled by.. Fixed assets Current assets Cfftdilors.. arnounls falling due within one year 5C6,240 932,944 1268,7691 517,504 1.319,771 1429,6521 1.170,415 1.407,623 15
European Diabetology (A company limited by guarantee) NOTES TO THE UNAUOITEO FINANCIAL STATEMENTS for the year ending 31 August 2023 15 RECONCILIATION OF NET IEXPENDITUREIANCOME TO NET CASHFLOW FROM OPERATING ACTIVITIES 2023 2022 Net {expendilurellincome Loss on inveslmenl$ Dividends from investments Oe¢rease in debtors 1237,2081 31,044 119.7801 35 190,420 8,601 118,7481 1C6,171 IDecre8$ellin¢rease in credito 1160,8831 158,095 Nel cash lused inyprovided by oporaling activrti88 1386,7921 444.539 16 ANALYSIS OF CHANGES IN NET FUNDS A131 August 2022 A131 August 2023 Cash flows Cash at bank and in hand 1,319,442 1386,7921 932,650 1,319,442 1386,792) 923,650 17 RELATED PARTIES The University of 8ri8101 are the empkiyer of Some of the tru8lee8 of Europèan Diabotology. Expenses of £898,075 were incurred in relation lo the University of Bristol during the year12022. £460,062>. No inlerèsl 15 due il payment 18 received 30 days from the nvo8 dale. The following ba18nce 8he$l rtems relate lo amounts du6 lol from the University of Bristol. 2023 2022 AccnJal$ 26,397 211,179 16