Charity number: 1160013 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) CONTENTS Page Reference and admSnlstratlve detalls of the charlty, Its trustees and advlser8 Trusteas. report Statement of flnancial actlvltles Balance sheet Noteg to the flnanclal slatements 6-12 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees A Delve, Trustee M Morris, Chairman H Croft, Trustee C Morris. Trustee Charlty reglstered number 1180013 Page 1 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2024 to 31 March 2025. Objectlves and Actlvltles Pollcle8 and obJectlves 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 and consider this criteria is rnet on the basis of the charily's primary charilable objectives. These being: The promotion of health and saving lives by sponsorship of research and development in medical technology. The advancement in the Ilves of young people and thelr education, p8rtlcularly In science and technology. in order to develop their skills. capacities and capabilitles to enable them lo participate in society as mature and responsible individuals. The promotion of amateur sport for the purposes of healthy recreation. The charity's main objectives in the year have been to raise funds and to identlfy groups, organisations and Individuals to asslst In accordance with the primary objectives above. b. Actlvltl•$ for achl•vlng obJ•ctI￿9 Durlng the year to 31 st March 2025 the charity has identified and assisted a number of groups, organisallons and individuals by way of grants and donations. A¢hlov•monts and performanco a. R•viow of activiti•s In the year to 31 st March 2025 total donations and grants in excess of £226,000 have been made. Donations have been made to individuals to assist them to pursue advanced medical treatments not available on the NHS. and to young sporting lalents to assist them at the early stages of their careers. Flnanclal rnvlew a. Golng concern After making appropriate enquiries, the truste88 have a reasonable expectation that the charity has adequale resources to continue in operalional existence for the foreseeable future. For thls reason Ihey continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Structure, governance and management a. Constltutlon The principal object of the charlty is to provide funding for projects designed for the advancement of health or saving lives through sponsoring research in this area,. the promotion of amateur sporting activities and the involvement of young people In such activities. b. Method of appolnlment or election of Trustees The management of the charity is the responsibility of Iha Trustees who are elected and co-opled under the terms of the Trust deed. Page 2 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) TRUSTEES, REPORT (continued> FOR THE YEAR ENDED 31 MARCH 2025 c. Organlsatlonal structuro and declslon maklng The Trustees make all the decisions regarding all matters relevant lo the Trust. This report was approved by the Trustees, on 2w/812025 and slgned on their behalf by.. M Morri8, Chaimian Trustee Page 3 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Noto Income from: Investments Total Income Expèndituré on: Charitable activities Total expendlture 308 Net Income l (expendlture) before othor rocognised galn8 and1088e8 1253,820) (253,820) (137,0051 Net movemont In funds 1253,820) (253,820) (137,0051 Reconclllatlon of fund8: Total funds brought forward 8 176 253 253 ￿LI Total fund8 carrlad fonmard The notes on pages 6 to 12 form part of these financial slatemenls. Page 4 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed as8¢ts Investments 600,001 600,001 Current assets Debtors 669,931 669.931 Cash at bank and in hand 6 655 501 6 908 722 7,325,432 7,578,653 Credltors: amounts falllng due within one year Not current asset8 7 322 432 7 576 252 Not assets Charlty Fund• Unrestrlcted funds 7 922 433 8 176253 Total funds The financial statements were approved by the Trustees on £k)15/2' D25 and sl9ned on their behalf, by: M Morrls, alrman The notes on pages 6 to 12 form part of these financial statements. Page 5 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollGles 1.1 8a31s of preparatlon of flnanGlal statements The financial statements have been prepared in accordance with the Charilies SORP {FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordanc8 Wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). the Flnanclal Reporting Standard applicab18 in the UK and Republic of Ireland (FRS 102). MSTART (Medical and Sporting Technology Research Trust) constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated the relevant accounting policy. The financial statements are prepare(l in sterling (£) which is Ihe functional currency of the charity. The significant accountlng pollcies that have been applied in the preparation of these financial statements are set out below. These pollcies have been consisteniiy applied to all years presented unless otherwlse stated. 1.2 Income All income Is reco9nised once the charity has entitlèment to the Sncome, it Is probable that the Income wlll be recelved and the amount of Income recelvable can be measured rellably. Income tax recoverable In relatlon to donatlons received under Glft Ald or deeds of covenanl is recognlsed at the tlme of the donation. Income lax recoverable in relalion to investment income Is recognised at the time the investment income is receivable. 1.3 Expendltur• Expendoture 18 recognised once there is a legal or constructive obligation to transfer economic beneflt to a third party, il is probable thal a transfer of economic benefits will be required in settlement and Ihe amount of the obligation can be measured reliably. Expenditure is classified by aclivity. The costs of each activity are made up of the total of direct costs and shared costs, Including support cosls involved in undertaking each activity. Direct costs attributable to a single aclivity are allocated direclly to that acllvity. Shared costs whlch contrlbute to more than one activity and support costs which are not attribulable to a slngle actlvily are apportloned between those aclivities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreclation charges allocated on the portion of the assel's use. Support costs are those cosls incurred directly in support of expenditure on the objects of the charity aT)d include project management carried out at Headquarters. Charitable activities and Governance costs are costs incurred on Ihe charity's operations, including support costs and costs relating to the governance of the charity apportioned to charltable activlties. Page 6 MSTART (MEDICAL AND SPORTING TECHNOLOGY RESEARCH TRUST) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (contlnued) 1.4 Investm8nt8 Fixed asset investmenls are a form of financial instrument and are initially recognised at their transaclion cost and subsequently measured at fair value at the Balance sheet date. unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and shown in the heading 'Gainsl(losses) on investrnents. in the Statement of financial activities. 1.5 Interest re¢¢lvable 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 interesl paid or payable by the Bank. 1.6 Debtorg Trade and other debtors are recognisad at the settlemenl amount after any trade discount offered. Prepayments are valued at the amount prepald nel of any trade discounts due. 1.7 Cash at Bank and In hand Cash at bank and in hand includes cash and short term highly liquid investmenls with a short maturity of three months or less from the date of acquisition or opening of the deposlt or slmllar account. 1.8 Llabllltlas and provl8lons Llabllities are recognised when there is an obligation at the 8alance Sheet date as a result of a past evenl, it is probable that a transfer of economic benefil will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilrties are recognised al the amount that the charity anticlpates it will pay to settle the debt or Ihe amount it has received as advance(I payments for the goods or services il must provide. Provisions are measure