2022-09-30-accounts - Beat Scad

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

Beat Scad

Charity No. 1164066

Company No. CE005460

Trustees' Report and Unaudited Accounts

30 September 2022

Beat Scad Contents

	Pages
Trustees' Annual Report	2 to 4
Independent Examiner's Report		5
Statement of Financial Activities		6
Summary Income and Expenditure Account		7
Balance Sheet		8
Notes to the Accounts	9 to	18

Page 1

Beat Scad Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 September 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE005460

Charity No. 1164066

Principal Office

41 Ridd Way Wingerworth Chesterfield S426UX

Registered Office

41 Ridd Way Wingerworth Chesterfield S42 6UX

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

R.L. Breslin

S. Coombes

H. Mulvaney

D. Oliver

Directors of Corporate Trustees

n/a

Trustees holding title to charity property

n/a

Accountants

Holy Brook Associates Ltd Curious Lounge 20 Tudor Road RG1 1NH

OBJECTIVES AND ACTIVITIES

Page 2

Beat Scad Trustees Annual Report

BEAT SCAD ACTIVITIES FOCUS ON THREE MISSION AREAS: 1) RAISING AWARENESS OF THE UNCOMMON AND UNDER-DIAGNOSED HEART CONDITION SPONTANEOUS CORONARY ARTERY DISSECTION (SCAD) BY SHARING UP TO DATE INFORMATION; 2) SUPPORTING PEOPLE AFFECTED BY SCAD THROUGH CONFERENCES, ORGANISED WALKS & SOCIAL MEDIA GROUPS; 3) RAISING FUNDS FOR RESEARCH TO UNDERSTAND THE CAUSE AND TO OPTIMIZE TREATMENT AND PROGNOSIS.

The trustees have given due consideration to the Charity Commission's guidance on the public benefit requirement.

ACHIEVEMENTS AND PERFORMANCE

During this financial year, the charity hosted a walk for SCAD patients and families/friends, the first face-to-face event since before the Covid pandemic. The UK research lead provided an update on research and answered questions from attendees.

The talk was recorded and video shared online after the walk event for people unable to attend in-person and for long term access to the information.

We continued to provide information and resources for those affected by SCAD, as well as healthcare professionals, via our website, leaflets, education events, videos and social media; and support those affected by SCAD via email, phone, social media and our Buddy Service. Following an award of £106,000 to the University of Leicester, to be paid in installments in 2022-2024, to support the funding of a new Clinical Research Fellow, we launched a new fundraising campaign to raise further funds to support the work of the Clinical Research Fellow.

The trustees are very grateful to all the volunteers and supporters who contributed time and money to support the charity.

FINANCIAL REVIEW

Several events were held by the charity and supporters to raise £91,642 (2021: £39,448). The Charity has donated £19,000 (2021: £67,193) to the Leicester SCAD Research group. We also made a donation of £11,550 in August 2022 (declared in the 2021 accounts as a creditor). We attended a Maternity and Midwifery event in March 2022 to raise awareness of SCAD.

Our restricted funds were £3,290 (£2021: £3,410). We anticipate spending the majority of this during the next financial year.

It is the policy of the trustees to keep reserves sufficient to cover 6 months of general running costs. The trustees expect the charity to continue as a going concern.

PLANS FOR FUTURE PERIODS

The Trustees intend to continue our current strategies of raising awareness and educating healthcare professionals about SCAD; supporting those affected by SCAD and championing the patient voice; and raising funds for research. We also plan to continue to develop policies and processes to support our objectives and comply with legal requirements.

We have designated funds of £77K to part-fund a clinical research fellow once appointed, funds to be paid in five quarterly instalments.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Beat SCAD is a Charitable Incorporated Organisation (Foundation type) governed by a constitution dated 22nd May 2015.

Page 3

Beat Scad Trustees Annual Report

The original trustees are the founders of the charity. Future trustees will be chosen to contribute to skills required by the charity's work

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

R.L. Breslin

Trustee 03 April 2023

Page 4

Beat Scad Independent Examiners Report

Independent Examiner's Report to the trustees of Beat Scad

I report to the charity trustees on my examination of the financial statements of Beat Scad for the year ended 30 September 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act).

Having satisfied myself that the financial statements 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 your charity's financial statements as 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

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached.

Rachel Eden CIMA (ACMA) Holy Brook Associates Ltd Curious Lounge 20 Tudor Road

RG1 1NH 03 April 2023

Page 5

Beat Scad Statement of Financial Activities

for the year ended 30 September 2022

Unrestricted funds 2022 £ 87,440 1,137 3,065 30	Restricted funds 2022 £ - - - -	Total funds 2022 £ 87,440 1,137 3,065 30	Total funds 2021 £ 1,105 5,343 38,344 -
91,672 4,308 19,000 5,288	- 120 - -	91,672 4,428 19,000 5,288	44,792 2,379 67,193 2,820
28,596 -	120 -	28,716 -	72,392 -
63,076 -	(120) -	62,956 -	(27,600) -
63,076	(120)	62,956	(27,600)
63,076 70,015	(120) 3,410	62,956 73,425	(27,600) 101,025
133,091	3,290	136,381	73,425

Page 6

Beat Scad Summary Income and Expenditure Account for the year ended 30 September 2022

Income Gross income for the year Expenditure Total expenditure for the year Net income/(expenditure) before tax for the year Net income /(expenditure )for the year	2022 £ 91,672 91,672 28,716 28,716 62,956 62,956	2021 £ 44,792
		44,792
		72,392
		72,392
		(27,600)
		(27,600)

Page 7

Beat Scad Balance Sheet

at 30 September 2022

Company No. CE005460 Notes 2022 £ Current assets Stocks 15 5,587 Debtors 16 - Cash at bank and in hand 131,778 137,365 Creditors:Amount falling due within one year 17 (984) Net current assets 136,381 Total assets less current liabilities 136,381 Creditors:Amounts falling due after more than one year 18 - Net assets excluding pension asset or liability 136,381 Total net assets 136,381 The funds of the charity Restricted funds 19 Restricted income funds 3,290 3,290 Unrestricted funds 19 General funds 133,091 133,091 Reserves 19 Total funds 136,381	2021 £ 2,545 1,253 83,144
	86,942 -
	86,942 86,942 (13,517)
	73,425
	73,425
	3,410
	3,410 70,015
	70,015
	73,425

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 September 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 03 April 2023

And signed on its behalf by:

R.L. Breslin Trustee 03 April 2023

Page 8

Beat Scad Notes to the Accounts

for the year ended 30 September 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

Beat Scad Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

The charity does not hold any freehold investment property

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 10

Beat Scad Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity does not operate a pension scheme.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Charity status

The charity is a CIO.

Page 11

Beat Scad

Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Other trading activities Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Income from charitable activities 6 Income from other trading activities	Unrestricted funds 2021 £ 1,105 5,343 38,344 44,792 72,392 72,392 (27,600) (27,600) (27,600) 97,615 70,015 Unrestricted £ 87,440 87,440 Unrestricted £ 1,137 1,137 Unrestricted £ 3,065 3,065	Restricted funds 2021 £ - - - - - - - - - 3,410 3,410 Total 2022 £ 87,440 87,440 Total 2022 £ 1,137 1,137 Total 2022 £ 3,065 3,065	Total funds 2021 £ 1,105 5,343 38,344
			44,792 72,392
			72,392
			(27,600)
			(27,600)
			(27,600) 101,025
			73,425
			Total 2021 £ 1,105
			1,105
			Total 2021 £ 5,343
			5,343
			Total 2021 £ 38,344
			38,344

Page 12

Beat Scad Notes to the Accounts

7 Other income

Unrestricted £ 30 30	Total 2022 £ 30 30	Total 2021 £ -
		-

Restricted £ 120 120 Unrestricted £ 19,000 19,000 Grants to Institutions £ 19,000 19,000 Grant funding of activities £ 19,000 19,000	Total 2022 £ 4,428 4,428 Total 2022 £ 19,000 19,000 Total 2022 £ 19,000 19,000 Total 2022 £ 19,000 19,000	Total 2021 £ 2,379
		2,379
		Total 2021 £ 67,193
		67,193
		Total 2021 £ 67,193
		67,193
		Total 2021 £
		67,193
		67,193

Page 13

Beat Scad Notes to the Accounts

11 Other expenditure

11	Other expenditure
		Unrestricted	Total	Total
			2022	2021
		£	£	£
	General administrative costs	4,254	4,254	2,545
	Legal and professional costs	1,034	1,034	275
		5,288	5,288	2,820
12	Net income/(expenditure) before transfers
		2022		2021
	This is stated after charging:	£		£
	Independent Examiner's fee	300		-
	Other fees paid to the auditor or independent examiner	520		-
13	Trustee remuneration and expenses
		2022		2021
		Number		Number
	Number of trustees paid expenses	1		-
	The nature of the reimbursed expenses	One trustee claimed travel expenses totaling £97.20. All
		other payments to trustees were	reimbursements of
		purchases made on behalf of the	charity.

14 Staff costs

The charity did not employ staff during the year.

15 Stocks

Finished goods Carrying value analysed by activities 0 16 Debtors Other debtors	2022 £ 5,587 5,587 2022 £ 5,587 5,587 2022 £ - -	2021 £ 2,545
		2,545
		2021 £ 2,545
		2,545
		2021 £ 1,253
		1,253

Page 14

Beat Scad Notes to the Accounts

17 Creditors:

amounts falling due within one year

Accruals 18 Creditors: amounts falling due after more than one year Trade creditors Other creditors Deferred income 19 Movement in funds At 1 October 2021 Restricted funds: Restricted income funds: Restricted Funds 3,410 Total 3,410 Unrestricted funds: General funds 70,015 Total funds 73,425 Purposes and restrictions in relation to the funds: Restricted funds: Restricted Funds 20 Analysis of net assets between funds Net current assets	2022 £ 984 984 2022 £ - - - - Incoming resources (including other gains/losses ) £ - - 91,672 91,672	Resources expended £ (120) (120) (28,596) (28,716)	2021 £ -
			-
			2021 £ 12,436 1 1,080
			13,517
			At 30 September 2022 £ 3,290
			3,290
			133,091
			136,381



		Unrestricted funds £ 136,381 136,381	Total £ 136,381
			136,381

Page 15

Beat Scad Notes to the Accounts

21 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents Net debt	At 1 October 2021 £	Cash flows £	At 30 September 2022 £
	83,144	48,634	131,778
	83,144 83,144	48,634 48,634	131,778
			131,778

22 Related party disclosures

Controlling party

The board of trustees are the controlling party.

Page 16

Beat Scad Detailed Statement of Financial Activities

for the year ended 30 September 2022

Income and endowments from: Donations and legacies Charitable activities Other trading activities Other Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds Charitable activities Grants made Total of expenditure on charitable activities General administrative costs, including depreciation and amortisation Bank charges General insurances Postage and couriers Stationery and printing Sundry expenses Legal and professional costs Other legal and professional costs	Unrestricte d funds 2022 £ 87,440 87,440 1,137 1,137 3,065 3,065 30 30 91,672 4,308 4,308 4,308 19,000 19,000 19,000 268 224 158 - 3,604 4,254 1,034 1,034	Restricted funds 2022 £ - - - - - - - - - 120 120 120 - - - - - - - - - - -	Total funds 2022 £ 87,440 87,440 1,137 1,137 3,065 3,065 30 30 91,672 4,428 4,428 4,428 19,000 19,000 19,000 268 224 158 - 3,604 4,254 1,034 1,034	Total funds 2021 £ 1,105
				1,105
				5,343
				5,343
				38,344
				38,344
				-
				-
				44,792 2,379
				2,379
				2,379 67,193
				67,193
				67,193 165 35 704 575 1,066
				2,545
				275
				275

Page 17

Beat Scad Detailed Statement of Financial Activities

Beat Scad Detailed Statement of Financial Activities
Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	5,288 28,596 - 63,076 63,076 - 63,076 70,015 133,091	- 120 - (120) (120) - (120) 3,410 3,290	5,288 28,716 - 62,956 62,956 - 62,956 73,425 136,381	2,820
				72,392 -
				(27,600)
				(27,600) -
				(27,600)
				101,025
				73,425

Page 18