OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Endeavour Health Charity Trust

2025-04-05-accounts

Charity Registration No. 1156863

ENDEAVOUR HEALTH CHARITY TRUST

REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

ENDEAVOUR HEALTH CHARITY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees James Berry
David Stables
Rachel Stables
Andrew Whitwam
Charity number 1156863
Principal address Low Farm
Barthrope
Malton
YO17 9RW
Independent examiner Kerry Gallagher FCA DchA
RSM UK Tax and Accounting Limited
Chartered Accountants
Davidson House
Forbury Square
Reading
RG1 3EU
Bankers Santander UK PLC
2 Triton Square
Regent's Place
London
NW1 3AN
Solicitors Wilkin Chapman Rollits LLP
Forsyth House
Alpha Court
Monks Cross
York
YO32 9WN
Investment advisors Rathbones (incorporating Investec Wealth & Investment UK)
30 Gresham Street
London
EC2V 7QN

ENDEAVOUR HEALTH CHARITY TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.

Objectives and activities

The trustees meet formally two or three times each year to discuss donations which they would like to make. They are, in addition, in contact with each other in between formal meetings whenever they wish to discuss matters and make specific decisions.

The objectives of the Charity are defined widely in the appendix to the governing document to include: To preserve and protect the health and support and improve the healthcare of patients suffering from mental or physical illness of any description by designing and providing and assisting in the design and provision of healthcare information technology which directly involves patients and their families as users.

All charities are required to report on the benefit of their work to the public. The aim of the trustees is to distribute the income in accordance with the objects of the Charity and the grant-making policy.

The trustees take into account the public benefit when deciding on grants and have given careful consideration to the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives, making grants and in planning future activities.

During the year, the Charity made charitable grants, donations and similar funding totalling £31,961 (2024 - £70,825). They were made out of the income and capital of the Charity in pursuance of its objectives. The trustees therefore consider that the Charity's objectives have been met during the year.

Included within the funding made by the Charity were amounts paid in relation to the Discovery Project.

The Discovery Project has been shaped with the main aims being to predict, anticipate or inform individual health needs from algorithms running in real time (or as near as possible) and to deliver the insight gained directly into the patient's record across the whole of their pathway, whether in primary or secondary care or elsewhere, and including the patient themselves, thus creating the opportunity to improve or prevent adverse outcomes.

Grant making policy

The Charity has established its grant making policy to achieve its objects for the public benefit to preserve and protect the health, and support and improve the healthcare of patients suffering from mental or physical illness of any description, by designing, providing, and assisting in the design and provision of healthcare information technology, which directly involves patients and their families.

Achievements and performance

Financial review

During the year, net outgoing resources of £7,174 (2024 - £62,885) were deducted from the unrestricted funds which, together with the net decrease in the value of investments of £37,242 (2024 - increase of £128,000), resulted in the net assets of the Charity decreasing by £44,416 (2024 - increased by £65,115).

On 9 August 2023, 200 ordinary shares in Endeavour Predict C.I.C were gifted to the Charity. This equates to the entire share capital of the company.

Reserves policy

At present, it is the policy of the trustees to distribute all the Charity's income they receive together with some of the capital. The balance of the Charity's Fund is to be retained to produce income for future years.

The balance held as unrestricted funds at 5 April 2025 was £1,891,855 (2024 - £1,936,271). The trustees believe that these funds are adequate to enable the Charity to continue to pursue its charitable objectives.

ENDEAVOUR HEALTH CHARITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Investment policy

The trustees have appointed Rathbones (incorporating Investec Wealth & Investment UK) as their investment advisors. The trustees receive a full valuation report in respect of their investment portfolio every 3 months, meeting with the investment manager to discuss their portfolio and investment policy at least once each year. The agreed strategy is to invest medium risk with an income objective. All investments are held by Rathbones (incorporating Investec Wealth & Investment UK) as nominee.

The value of the Charity's investments is shown within notes 9 and 10 to these financial statements. The trustees continue to have confidence in their investment advisors.

Risk management

The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Risk is mitigated by retaining expert investment managers and have a diversified investment portfolio.

Structure, governance and management

Reference and administrative information set out in the financial statements forms part of this report. The Endeavour Health Charity Trust was created by a Trust Deed dated 30 January 2014 and is registered as a charity under the Charities Act 2011, Registration Number 1156863. Under the terms of the Trust Deed, the trustees are directed to hold the Charity's Fund and the income thereof for such charitable purposes as the trustees in their absolute discretion think fit.

The trustees have administered the Charity during the year, in accordance with the terms and objects of the Trust as laid down in the original Deed. The Charity began operating on 6 April 2014.

The Trust Deed contains no restrictions on the distributions of either capital or income, provided such distributions are for charitable purposes.

Clause 4 of the Trust Deed gives the trustees wide powers of investment to the extent that they have the same powers as if they were absolutely entitled to the Charity's funds beneficially.

The trustees were appointed on formation of the Charity and may seek reappointment if they retire by rotation or by giving notice. Apart from the first trustees, every trustee must be appointed by resolution passed by the incumbent trustees. In selecting individuals for appointment, the trustees must have due regard to their skills, knowledge and experience.

Details of related party transactions have been included in note 15 to these financial statements.

The trustees who served during the year and up to the date of this report were:

James Berry David Stables Rachel Stables Andrew Whitwam

Future plans

The trustees plan as far as is possible that sufficient income and capital is available to be able to continue to make donations and grants at similar levels as at present to potential beneficiaries who may be eligible.

Key management personnel remuneration

The trustees consider the Board of Trustees as comprising the key management personnel of the Charity in charge of directing and controlling the Charity and running and operating the Charity on a day-to-day basis. All trustees give of their time freely and no trustee remuneration was paid during the year.

ENDEAVOUR HEALTH CHARITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and 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 Trust Deed. They 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' Report was approved by the Board of Trustees and signed on its behalf by:

.............................. DZ ite David Stables

..............................

Trustee

26/01/26 Dated: .........................

ENDEAVOUR HEALTH CHARITY TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ENDEAVOUR HEALTH CHARITY TRUST

I report to the trustees on my examination of the accounts of Endeavour Health Charity Trust ('the Charity') for the year ended 5 April 2025, which are set out on pages 5 to 13.

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’).

I report in respect of my examination of the Charity’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 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

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 reasonable cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Kerry Gallagher

Kerry Gallagher FCA DchA The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Davidson House Forbury Square Reading RG1 3EU

Dated: .........................27/01/26

ENDEAVOUR HEALTH CHARITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Notes
Income from:
Donations and legacies
2
Investments
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
Total expenditure
Net expenditure before (losses)/gains on investments
Net (losses)/gains on investments
9
Net movement in funds
Total funds brought forward
Total funds carried forward
14		 2025
£
-
51,782
51,782
16,543
42,413
58,956
(7,174)
(37,242)
(44,416)
1,936,271
1,891,855		 2024
£
200
46,496
46,696
16,041
93,540
109,581
(62,885)
128,000
65,115
1,871,156
1,936,271

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ENDEAVOUR HEALTH CHARITY TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investments 10 1,871,664 1,923,722
Current assets
Cash at bank and in hand 34,596 27,125
Creditors: amounts falling due within 11
one year (14,405) (14,576)
Net current assets 20,191 12,549
Total assets less current liabilities being net Total assets less current liabilities being net
assets 1,891,855 1,936,271
Income funds
Unrestricted funds 1,891,855 1,936,271
Total Charity funds 1,891,855 1,936,271

26/01/26 The financial statements were approved by the trustees on ......................... and are signed on their behalf by: .............................. DZ tte David Stables

Trustee

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

The Endeavour Health Charity Trust was created by a Trust Deed dated 30 January 2014 and is registered as a charity under the Charities Act 2011, Registration Number 1156863. The registered office is Low Farm, Barthorpe, Malton YO17 9RW. Under the terms of the Trust Deed, the trustees are directed to hold the Charity's funds and the income thereof for such charitable purposes as the trustees in their absolute discretion think fit.

Accounting convention

The financial statements have been prepared under the historical cost convention with items recognised at cost of transaction value unless otherwise stated in the relevant note(s) to these financial statements.

These financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.

The Charity has adopted the Charities SORP (FRS 102) rather than applying the Charities 2005 SORP which has been withdrawn but is still referred to in the extant Charities (Accounts and Reports) Regulations 2008. This departure is necessary for the financial statements to show a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice effective for accounting periods beginning on or after 1 January 2019.

The financial statements are prepared in Sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The Charity constitutes a public benefit entity as defined by FRS102 and has therefore applied the relevant

public benefit requirement of FRS102.

The Charity has taken the exemption under section 405 of the Companies Act 2006 and does not prepare consolidated financial statements as it qualifies as the parent entity of a small group.

Going concern

The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. The trustees review reserves levels, commitments, cash and forecasts at least one year ahead when assessing going concern. The trustees continue to review the current economic environment and the impact of cost of living, inflation and changing interest rates. The trustees do not see this having an impact on the Charity's ability to continue as a going concern, and therefore the trustees continue to adopt a going concern basis in preparing its financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date.

Investment income from bank interest is brought into the account gross when receivable. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies (Continued)

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Governance costs include those incurred in the governance of the Charity and its assets and primarily associated with constitutional and statutory requirements.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside of the control of the Charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.

Raising funds

The costs of raising funds comprise of investment management costs and certain legal fees.

Charitable Activities

The costs of charitable activities include grants made and governance costs.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

A subsidiary is an entity controlled by the Charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments

The Charity only has basic financial assets and liabilities of a kind that qualify as basic financial instruments which are initially recognised at cost. Fixed asset investments are subsequently recognised at fair value with any movement being shown in the Statement of Financial Activities.

Cash flow exemption

The Charity has taken the exemption under section 7 of FRS102, permitted by the Charities SORP, to not prepare a cash flow as the Charity is considered to be a small entity.

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

2 Donations and legacies

2025 2024
£ £
Other - 200

On 9 August 2023, 200 ordinary shares in Endeavour Predict C.I.C were gifted to the Charity. This equates to the entire share capital of the company.

3 Investments

Income from investments
Interest receivable
4
Raising funds
Investment management
5
Charitable activities
Expenditure in relation to open source software and project management

Share of governance costs (see note 6)

 2025
£
50,361
1,421
51,782
2025
£
16,543
16,543
2025
£
31,961
10,452
42,413		 2024
£
44,718
1,778
46,496
2024
£
16,041
16,041
2024
£
70,825
22,715
93,540

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

6 Governance costs

Governance costs
Accountancy
Independent examination fees
Bank charges
Legal fees
Analysed between:
Charitable activities		 2025
£
4,284
3,655
90
2,423
10,452
10,452		 2024
£
3,840
3,054
90
15,731
22,715
22,715

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration, benefits or expenses from the Charity during the year (2024 - none).

8 Employees

There were no employees during the current or prior year.

9 Net (losses)/gains on investments

2025 2024
£ £
Change in fair value of investments (37,242) 128,000

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

10 Fixed asset investments

Investments Cash in Other Total
portfolio investments
£ £ £
Cost or valuation
At 5 April 2024 1,837,212 86,310 200 1,923,722
Additions 1,100,562 - - 1,100,562
Change in fair value (37,242) - - (37,242)
Equalisation (60) - - (60)
Disposals (1,064,868) - - (1,064,868)
Movement in cash - (50,450) (50,450)
At 5 April 2025 1,835,604 35,860 200 1,871,664
Carrying amount
At 5 April 2025 1,835,604 35,860 200 1,871,664
At 5 April 2024 1,837,212 86,310 200 1,923,722
2025 2024
Other investments comprise: Notes £ £
Investments in subsidiaries 16 200 200
2025 2024
£ £
Investments at fair value comprise:
UK Fixed Income 725,140 482,990
UK Quoted Equities 89,230 108,658
Real Estate Investment Trusts - 106,949
Overseas Fixed Income 338,682 293,614
Overseas Equities 524,489 556,045
Alternative Assets 158,063 288,956
1,835,604 1,837,212

Fixed asset investments revalued

Investments are revalued at the end of each year by reference to their fair value. The historic cost of the investments is £1,772,811 (2024 - £1,805,420).

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

11 Creditors: amounts falling due within one year

11
Creditors: amounts falling due within one year		 11
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
12
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
Carrying amount of financial liabilities
Measured at amortised cost
13
Analysis of charitable funds
Movement in funds
Balance at 6
April 2024
Income
Expenditure
£
£
£
Unrestricted funds
1,936,271
51,782
(58,956)
1,936,271
51,782
(58,956)
Movement in funds
Balance at 6
April 2023
Income
Expenditure
£
£
£
Unrestricted funds
1,871,156
46,696
(109,581)
1,871,156
46,696
(109,581)
Income
Expenditure
£
£
51,782
(58,956)
51,782
(58,956)
Movement in funds
Income
Expenditure
£
£
46,696
(109,581)
46,696
(109,581)
£
46,696
46,696

ENDEAVOUR HEALTH CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

14 Analysis of net assets between funds

Fund balances at 5 April 2025 are represented by:
Investments
Current assets
Comparative analysis of net assets between funds
Fund balances at 5 April 2024 are represented by:
Investments
Current assets		 Total
£
1,871,664
20,191
1,891,855
Total
£
1,923,722
12,549
1,936,271

15 Related party transactions

The trustees confirm there are no related party transactions to disclose (2024 - nil).

16 Subsidiaries

Details of the Charity's subsidiaries at 5 April 2025 are as follows: Details of the Charity's subsidiaries at 5 April 2025 are as follows: Details of the Charity's subsidiaries at 5 April 2025 are as follows:
Name of undertaking Registered Nature of business Class of % Held
office shares held Direct
Endeavour Predict C.I.C. Unit 1.3, Community Interest Company Ordinary 100.00
Morwick Hall, (CIC)
Mortec Park,
York Road,
Leeds, LS15 4TA