Company registration number. CE008100 Charty registration number.. 1189632 The MASIC Foundation A charitable Incorporaled organSsallon Annual Report and Fmiancial Stal&monls for Ihe Year Ended 31 December 2023
The MASIC Foundallon Contents Reference and Administrative Details 1102 Trustees, Report 3to10 Statement of Trustees, Responsibilities 11 Independent Examiner's R8POrt 12 Staloment of Flnanolal Acllvilies 13 Balance Sheet 14 Notes lo the FInarla1 Statemen18 15to20
Tho MASIC Foundatlon Reforenco and Admlnlstrotlve Dotalls TN6t¢e8 Prof Mi¢hael KehleY MA MS FRCS, President Ireglgned 1 June 2023 as Trustee remalns Presldent) Prof Debra Bick Mmedsc PhD RM, Chair Julie Cornish MD FRCS GeOffY Hand MA Prof Robert Freeman MB FRCOG Ranee Thakar MD FRCOG (resigned 151h February 2024 as Tiustee) Henrietta Mary Rose Bidwell Joanna Prance Amanda Hughes Samantha Vlncenl (appointed 6 January 2023) Sarah Embleton lappoinled 21 March 2023) Patron8 Donna O¢kenden FRSA Ranee Thakar MD FRCOG (appointed 15U> February 2024) Page I
Tho MASIC Foundatlon Refwence and Admlnlstratlve Detalls Piln¢lpal Offl¢e PO Box 10875 Nottingham NG12 5YU Roglstored Offlco PO Box 10875 Nottingham NG12 5YU Company Reglstratlon Number CE008100 Charlty Regl$tratlon Numbgr 1169632 Bankers CAF Bank Ltd 25 Kings Hill Avenu8 Klngs Hill West Malling Kent ME19 4JQ Independent Examlnor Ballards LLP Oakmoore Court 11C Klng8wo¢)d Road Hampton Lovett Droiiwi¢h Worcestershire WR9 OQH Website www.masic.org.uk Email Info@masl¢.org.uk Twitter @masic uk Instagram https:Ilwww.instagram.comlmasicfoundationl Facebook https:Ilwww.fa¢ebook.comlMASICFOUNDATION Linkedln https:Ilwww.linkedin.comlcompanylmasicfoundation Pege 2
The MASIG Foundatlon Trust•o8' Report The trustees, who are dlrectors for Ihe PUTposes of company law, present the annual report together with the financial statements of the ¢harilable company for the year ended 31 Dember 2023. Trustee8 Prof Micha81 Keighley MA MS FRCS, President [S[gned 1 June 2023 as Tru5t68 remains Presldent) Prof Debra Blck Mmedsc PhD RM, Chalr Julie Cornish MD FRCS Geoffrey Hand MA Prof Robert Freeman MB FRCOG Ranee Thakar MD FRCOG (resigned 15th February 2024 8s Trustee) Henrietta Mary Rose Bldwell Joanna Prance Amanda Hughes, Treasurer Samanlha Vincenl (appointed 6 January 2023) Sarah Embleton {appointed 21 March 2023) Objectlves and Alms Background The MASIC Foundation was formed in 2016 and18 the UK'S onty chailty dedlcated to supporting women who have suffered severe perineal injuries during Ghlldbirth known as obstetric anal sphln¢ter injuries IOASI} or third and fourth degree lears. Suah inlurieB are life-changing and can have a devaslaling Impact on a woman's quality of Ilfe- her health, intimate relalionshlps, family relationshlps, employment. Our Alms The MASIC Foundation h88 three aims.. 11 Ralslng public awareness and supporting injured women 21 Supportlng research and prevention of OASI injuries 31 Educatlon of healthcare professionals. Page 3
Tho MASIC Foundatlon Tru8tee8' R•port Achlevements and p•rforman¢fr AI MASIC, we provide a safe and supportlV8 8nvironment where women can access medical advi, peer support, and advocacy. We empower women by offering them the tools, resources, and information they need to navigate their recovery and advocate for their rights. Each year, we support hundreds of women across the UK, ensuring they do not face these challenges alone. In addition to our direct support services. MASIC is committed to raising awareness about injurles sustained durlng chlldblrth and gdvocaling for systemSG Ghanges in maternity care and this hes been a strong focus in 2023. A key aim in 2023 was the continued development of our gUPPOrt provision, from provldlng peer-led face-lo-face supportto injured women, to updating and providing relevant and topical Informalion online, through webinars, $o¢lal media and reswndlng to the many injured women who reach out to us via a number of platforms. North West was a starting point in 2022 for our peer to peer support groups and we continued to run groups there at the Ronald McDonald House Manchesl6r in 2023 and covered a number of topics aGross Ihe year including a wonderful talk from psychosexual counsellor Sarah Edge. The Cardiff support group Contined lo flourish and we look forward to worklng with the team in 2024 10 expand our ach In the Surrounding areas. MASIC advocate and Trustee Joanna Prance launched a support group In Gullford covering Surrey, Hampshire and Berkshire. Joanna and the team will continu8 to seek to develop clinical neorkS in the area lo drive referrals to the group. We thank TK Maxx who kindly donated lo the running costs of this group. MASIC Trusteè Samantha Vlncent also launch8d a support group al Hillingdon NHS Trust In response to requests from patients and we look foard to supportlng Samantha with this group. Building on Ihe8e groups and Ihe growSng need for support is a key straleglc aim for the charity and we will continue to Seek funding and make plans in order to increase th1$ much nee(led provision in 2024 and beyond. othor Support Aside from in-person support groups, ther8 is a vlbrant and growing online eommunlty of women who support each other through their experiences of Injury trom birth trauma. At the end of 2023, we had 430 members of a closed support group on Facebook and, through email. phone eall and our online contact forms, we recelved over 150 enquiries during the year from injured women. '1 feel much les3 alone now fe81 I caft finally talk to others who understand.. Soclal Medla Our social media continues to grow In reach, Impacl and engagement serylng Injured women by provlding a rich source of information and guidance and dissemlnatlng information to health professionals. AS awareness of injury and birth trauma increas6 so too does the impDrtanc& of being the leading voice on these platforms. We ended the year with 2.693 followers on Inslagram, 1,931 on Twltter, 850 on the Facebook open page. These platforms are used to promote relevant new slories, remlnd followers of MASIC'S fre@.t8GG&sS webinar archives, share usèful Information and guidance from olher health professionals, charllles and heath Drganisations and a¢h other health professionals and Ihose interested in this area ofwomen's health. We also use social media lo promote our new blog series whiGh looke(l al topics ranglng from racial inequalities to PDslnatal rehab, written by industry specialists. These are an 8x¢ellenl way of providing informative content whllst worklng with key partners. Page 4
The MASIC Foundatlon TruBtees' Report Pre$$ MASIC continues lo strengthen It8 links with the medi8 as the profile of the Charity grows, along wlth awareness ol Issues within the maieinity sector and injury. We contlnue to build our links within the heallh sector industry an¢J are now frequently asked for omment, information and advocate storiès and experiences. Below are lusl a selection of articles and highllghls from our medla thls year. We were dellghted to also feature on BBC Woman's Hour. HuffPost artl¢le'l Resented My Baby,: Th8 Devastating Impact Of Bowel Inconlinenoe After Giving Blrlh | HuffPost Life Ihuffingtonposl.co.uk) mylondon.newslnewslheallhllondon-mums-nightmare-blrth-forceps- 27426936?fbcli¢J-IwAROfm1hVeQ2Id4B-rLoACOM8ExVSMc3LOb-Nylo-2W4IKBUqy01 LHUxnD7w MASIC fealures on BBC Radio 4 Woman's Hour- MASIC Weblnars In 2023 We contlnued our successful programme ofwebinars whl¢h are not only informallve but provide a useful source of educational content and resource for ongoing enquirSes from both health care professionals and injured women. We continue lo develop this resource and plan in 2024, subject to receipt offunding, lo develop a new online trainlng and webinar plafform whlGh will increase our ability to drive revenue from this conlent and reach a wlder audience whilst Gontlnulng to be free for injure¢J wom8n. The MASIC weblnars in 2023 included- The Perinalal Pelvic Health Inlli8tlve'. NHS England Instrumental Delivery.. Exploring the Impact on Maternal Health . OASI and Dlsability: Employment Rlghts and Assessment These events are supported by a range of sponsors lo cover Costs and provlde important income for the charity. We particularly wish to thank the followlng law and medical firms for their support.. Boll Burdon Kerry), Lelgh Day, Moore Barlow, Medtronic and THD. A full programme of webinars wlll continue into 2024. 'As a pelvic physlo (8nd one involved in the perinatal pelvlc health project locally) I found all of Ihe session invaluable. I really appreclated both p8tient advocates sharing their difficult 8torie8- il has such an impact. MASIC and the women do such a wonderful lob of raising awareness of the impact of blrlh trauma and this really supports us In lrying lo galn buy-ln lo Improve servlces." Weblnar allend8e Page 5
The MASIC Foundatlon Tru8tee8' Report Asslsted Blrth SuNey In November 2022, MASIC carried out a S[veY to explore women's experiences of having a vaginal blrlh asslgted by Forceps or V8nlou$e. The survey was open lo women in UK onty who had glven birth assisted by forceps andloT venlouse. The response level was excellent, with over 700 responses. The findings of Ihe survey were released al our Instrumental Delivery.. Exploring the Impact on Maternal Health webinar in November 2023. The results make for sobering reading and conllnue to support our call for Improved antenatal informatlon and consent and for a much more serious dls¢iJssion around increased rlsk of inlury when forceps are used. The report is an invaluable piece of work and was also presented al Ihe first consensus statement meeting at the RCOG a collaborallon of all the major obstetric, midwifery and pelvio health societies to Ic4Jk at developing a series of consensus Statements on making assisted vaginal dellvery safer for women and babies. MASIC is proud to be a key part of this Important PToject and we look foward to sharing the findings of our consensus in 2024. Page 6
The MASIC Foundatlon Tru8tee8' Report Olher Projocts, R68earch and Collaboratlve Worklng We continue to wcffk with an ever-increasing neork of clinicians, charities and others committed to reducing injury and supporting injur&d women. Some highllghts include: * Being invited lo be members of the James Lind Alllance research project Faecal Incontlnence in Adults Priority Setting Partnership (JLA FI PSPI as part of the PPI on behall of MASIC. Invlted to b8 members of the AMELIE research trial sleerlng committee provkling PPI on behalf ctrf MASIC. Conlribuling lo a Warwick Universlty lead NIHR RfPB appllcatlon which aims to Smprove midwifery training In perineal assessment and rep81f. . The GRACE sludy-wewere delSghted towork overth8 past 2 years on the GRACE study- a Unlversity of Warwick-led qualitative study, funded by the UK National Institute for Health and Care Research that looked al women's experiences of anal incontinence followlng vaginal blrth and the mlssed opportunities in routine health G2re contacts. With input from the MASIC Foundation the sludy Idenlifled mlssed opportunities in getting a diagnosis of Al, an absence of ¢lear pathways for those who are referred for treatment and a lack of awareness of the problem among healthcar8 professlonals. The final report was launched in Julle 2023 with MASIC employee and advocate Anna appearlng on BBC Woman's hour with Dr Sarah Hlllman. A training package has been developed for the Royal College of Genefal Practitioners (RCGPI as have resource pages Ilnked lo the study which the charity will also be hostlng on its website. 4 The charlty has increased Ils neiworking and relatlonship bulldlng, with Tiuslees, advocales and staff attendlng a numbeT of conferences and events to bulld nallonwid& links with clinlcians lo help us increase our support for injured women and incieas8 awareness of injury and prevention. We allended the Lelgh Day Sponsored Black Maternal Health Event, the Klngslon Pelvrc Health conference, POGP annual conference, Bowel and Bladder Symposiums and attended and spoke al a number of events and tralning se8sions. We attended the Everywoman Festival In June, organised by MASIC Trustee Julie Cornish In Cardiff and were delighted lo partnerwith Qfora In the Gul Hut. We also started working with MASIC Advocate Geota on the first Soulh Asian Maternal Health conference to be held in SprirYJ 2024. . The charity was delighted whon they were approached by Theo Clarke MP who had heard an Intervlew wlth us on BBC Woman's Hour. Soon after, the APPG for Blrth Trauma launched in the House of Commons - the first of its kind, with the first ever speech on blrth trauma in parliament by Theo Clarke MP. The MASIC Foundation were then invited to join a Special Advisory Group to Ihe APPG, to onsure that the voices of injured women were represented. and work soon began in Q4 on a soon to be launched in 2024 publSG Inquwy Into birth trauma and injury. Working on the inquiry, advocallng for change and pushing for recommendations Ihat will reduce injury and provide beller Idènllficallon and care of injury will form a key part of the charity's activities in 2024, and we are proud to use our èxpertlse and nefNorks lo ensur8 all aspects ot birth injury are dlscussed and PLt8h for positive change. Pag& 7
The VJIASIC Foundatlon Trustsos, Report Admlnlstratlon and Goveinan¢e Trustoe8 and Commltte68: Profgssor Blck continues as Chair of Tru51ees Professor Fieeman chairs the Education Committee Geoffrey Hand Gontlnued as Treasurer throughout 2022, with Amanda Hughes becomlng Treasurer In 2023. Both ar8 member8 of the Finance and Resouioes Committee. Samantha Vlncent and Sarah Emblelon were welcomed to the trustee board in 2023. The Trustees meet on a quarterly basis. MASIC'S kno subcommittees- the Education Committee and the Finance and Resources Committee - meet regularly. Chloè Oliver conlinuos as MASIC'S Chief Executive Officer afterloining in January 2022 and continu8S lo be SUPPOrted by a team of two part lime staff, of whom have lived experience of birth injury. In 2023 the charity also r8crulled a new ffeelance bookkeeper. Councll: MASIC Is supported by over 27 Covncil Members who form a resource for professional, parliamentary and financial Introductions, generating political debate, publlc awareness and support. Council membership is by invilalion. In 2023 we decided lo refresh and relaunch council and reinviled all member5 reconfirmlng Ihe terms of reference for membershlp whlch Include helping us irreaSe income, increase proflle and a¢h. We will h8ve the first meeting of tho new group in 2024. Flnan¢ial rovltrw We have Sustained a stable cash posS1ion throughout 2023. The Flnance and Resources Commlttee closely monllors the charlty's financial position and works to ensure a proper balan between the ever- increasing demands upon the charity, ils continuing growth and the resouT¢es available lo meet Ihos8 needs. Pag8 8
The MASIC Foundatlon Tru8teg8' Report Fundralslng Strategy and Actlvlty We continue to work hard on a slralegy lo strenglher¢, maximlse and dlversify our income sources. We have been successful in Gonsolldaling our ¢orpor8le relationships and building upon these- its through Ih85e r8lalionshlps that we are able lo continue such a successful webinar programme and once again host our annual opera event. Wè enlisted the help of a Trusl Fundraising consultant lo help with a key growth ar8a whioh is developing long-lerm relalionshlps with appropriate grant-making organlsations. We also applied lo and su¢¢essfvlly went through to the second round of the Reaching Community National Lollery fund with an appllcallon for multi-year funding for the roll out and development of our support group programme. This will continue in 2024. The attainment of long-term financial SU51ainability GOntlnue$ to be one of the CEO'S primary obiec16ves. We were delighted once again to ho81 an opera. On Thursday Isl June 2023 Diva Opera perfom]ed at Monkton Combe School near Bath to 8UPPOrt The MASIC Foundatlon. The evening was organised once again by MASIC President Professor Mike Keighley. Thanks to amazlng sponsorship as well as some génerou5 donations, we were able to donate £3k to Monkton Bursaries and £27k was raised for The MASIC Foundatlon. Huge thanks lo all our attendees and sponsors Kelghlgycolo, Hugh James, Leigh Day, Irwin Mitchell, Clarke Willmoll, Moore Barlow and RWK Goodman. Thanks also to the team at Monkton Combe School who helped us host a fantast event. W& conllnue to look at how we grow public and communlty fundraising although charity resource and capaclty conllnue lo be a limitlng factor and other areas of income generalion iemain a priority. Trustee, Joanna Prance, is forming and l&ading MASIC'5 community fundralsing efforts Ihfough the development of a fundraislng committee and we are slowty seeing more individual fundraisers proactively raising funds for the ¢harlty. Joanna Prance led by example by taking part in 'Mounlains for MASIC" raising almost £700 for the charlty and MASIC advate, Leonnie Downes. who cllmbed Mount Snowdon on 20th September 2023, raised an amazing £1,121 for MASIC. We thank both for their wonderfvl support OF MASIC an(J all those who took part in 8V8nts to rais8 both impotsnl fund$ and awareness of our work. MASIC derlves Invaluable financial support from companSes, law ffirn, and medical equipment manufaGturer8 and other organisations supporting blrth-lnjured women in as many aspects ortheir lives as possible. In comparison to many similar size charilles we have great success in this area. Our tiuslees conslanlly review the relationship beeen the charity and commercial organisations to ensure that these are appropriately managed. The MASIC slaff and Trustees express Ihelr slncere gratllude to all the commercial organisations thal have supported MASIC and make possible ils ongolng vllal Gonlrlbution to women's health. Pollcy on reserves The trustees adopt a rlsk-based approach lo reserves, the principle present rlsk, as In any charlty in its earty years, belng an inadequaoy of funds. MASIC benefits from closè and regular rUtInY of its resources by Ils FInan and Resources Commilloe in order to avold any sudden or unforeseen shortfall. Taklng Into account the charity's predlclable running costs and the cost of closure Ihe Iruslees adopt a reseNes F)oli¢y of maintalning approximately six months, unrestrlcted funds. Page 9
The MASIC Foundatlon Tru8tee8' Report Slructur6, gov8rnanee and monag•m•nt Constltullon The charity is goveffled by a Con8tilution and registered with the Charity Commission for England and Wale8 as a Charitable Incorporated Organisation on 13 October 2016. Re¢rultment and Appolntment of Trust¢68 Trustees are drawn from th8 key h8allhcare proféssionals involved in the PTevenlion or treatment of OASI, and the Board Includes women who have experienced OASI, as well 88 th¢y3e with legal, commerclal and flnancial skills. In seleding individuals for appointment, Ihe trustees have had regard to the skllls, knowledge and oxp9ri8nca needed for th8 effective management of the Foundation. New tru8tee8 are provlded with and appropriate induction on joining the charity. Publlc Benellt The Irijstees Confirm that they have complied with the requlrements of section 4 of the Charities Act 2011. They have due regard to the publlc benefit guldance published by the Charities Commission for ErKJland and Wales in determining the activities undertaken by the Charity. Atl Iruslees glve Ihelr tlme voluntarlly and no truste& receives any private benefit or iemunerallon from the Charmy. The Charity Is run by the trustees who meet at least thr89 times per year. Rlsk management The Trustees recognise there are a range of Strateg risks to which MASIC Is exposed. These include financial, reputational. technological, legal and operallonal risk5. To date, as MASIC is a small charity, It has been possible lo manage risks qulte pra¢liGally on a daY-tdaY basis. Each month al th6 Finance meeting the risk register is discussed and any adjustments made and sent with the minutes to all Trustees. The iisk register is also a rolling agenda point at all Trustee Meetlngs. The annual report was approved by the Iru8lees of th8 charity on ...... .. . by= and signed on ils behalf Pr ebra Bic edsc Chalr of the Twstees ORM Pa9e 10
The MASIC Foundatlon Slatèmont of Tfuslees. Re8ponslbllltles The law applicable to charilies In England and Wales roquires Tiustees to prepare financial statements foreach financial yearwhich give a true and fairview ofthe State of affalrs of the Charity and of incoming resources and application of resources of the charity for that period. In preparing these Flnancial Slalemenl8 the Trustees are required to: la) Selecl su51able accounting policies and then apply them consistontly. (b) Observe the methods and principles in the Charitl8s SORP., (c) Make judgements and accounting estimates that are ièasonablo and prudenl., (d) Slate wholher applicable UK A¢counling Standards have been followed, subject lo any materia departures disclosed and explaSned in the financial slatem8nts,' and {e) Prepare the financial stalements on the going concern basis unl8SS it is inapproprlale lo presutT Ihal the Charity will contlnue operation. The TfUSte85 are re$ponsIb for keeping proper accounting records that dlsclose wllh reasonable accuracy al any lime the financlal position of the Charity and enable them lo ensure that Ihe financial statements comply wlth the Charilles Act 2011 and the Charity {Accounls and Reports) Regulations 2QMJ8. They are also responslble for safeguarding the assets of the Charity and henGe taking rea$onable steps to prevent and delecl ffaud and other irregularities. The Trustees are responsible for Ihe maintenance and inl8grity of the Charlty and the financial information included on the Charity's website. Legislation in the Uniled Klngdom governing the preparation and dlssemination of finan¢lal statements may différ from leglslallon In other jurisdictions. Page11
Th8 MASIC Foundallon Independont Examlner's Report to th• INgtee8 of The MASIC Foundatlon I report on the accounts of the charSty for the year ended 31 December 2023 which are set out on pages 13to20. Respecllve r8sponslbllltle$ of trustees and examlnar The Iruslees of the CIO are responsible for the preparallon of the accounts. The tTUSte85 Gonslder that an audit 15 not Tequired for thi8 year under section 144{21 of the Charities Act 2011 {Ihe 2011 AGI) and Ihat an independent examinalion18 needed. Having salisfi8d myselflhatthe charity is not suble¢t to audSt and 1$ eligible for independ8nt 8xaminalion, it Is my responsibility to- examine the aoUnts under section 145 of the 2011 Act., to follow the procedures laid down In the general Dlre¢tions given by the Charfty Commi88ion under se¢llE)n 14515}{bl of the 2011 Act,. and to slate whether particular malters have come to my attention. Bas18 of Independent examlner's report My examination was carried out in accordance wllh Ihe general Direction8 giv8n by tho Charlty Commission. An examination includes a review of the accounting records kept by th8 charity and a comparison of Ihe aGGounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanatlon$ from you as trustees concerning any such matters. The procedures undertaken do not provlde all the evijence that would be required in an audil and consequently no opinion is given as lo whether the accounts present a 'true and fair v18w' and th8 report Is limiled to those matters set out In Ihe statement bel¢)w. Independent examlner's slatgmont In connecllon wllh my examination, no matter has come lo my attenllon.. {11 whl¢h glves me reasonablg cause to belleve that In any material resp8cI the requirement8: lo keep accounting records In acwrdance wilh section 130 of the Charities Acl 2011. and lo prepare a¢¢ounts whlch aword with the accounting re¢ords and comply with the method5 and prlnciples of the Stalement of Recommended PracliGe'. AG¢ountlng and Reporting by Charllies have not been met., or (2) to which, in my opinion, attenllon should be drawn In order lo enable a proper understanding of the accounts to b Benjamin Powell MSGS ACA Oakmoore Court 11C Kingswood Road Hampton Lovett DrO11¢h Worcestershire WR9 OQH Pagè 12
The MASIC Foundatlon Statemont of Flnanclal Acllvltles for the Yoar Ended 310ècembor 2023 {In¢ludlng Income and Expendlture Account and Statement of Total Rocognlsed Galns and Losso#1 Re8trlclèd funds Totsl 2023 Total 2022 Note Income and Endowments from: Donations and legacles Charitable aclivlties Granls 3,268 15,961 109,056 992 7,446 106,893 Total Income 126 009 120,189 Expendlture on., Raislng funds Charitable acllvitles other expenditure (1,263) (118,719) 9,434 {21) 1119,803) {3.208) Total Expendlture 129 416 125,308 Nèt incomellexpendllurel 80 Net movemenl in fvnds 60 {3,4071 (5,119) Re¢onclllatlon of funds Total funds brought foNRrd Total funds carfied forward 13 All of the charlty's 8clivilies dèrive from contlnulng operations during the above tsvo perlod8. The funds breakdown for 2022 is shown in note 13. Page 13
The MASIC Foundatlon (Reglstrallon numb&r: CE0081001 Balance Shaot as at 31 December 2023 2023 2022 Note Flxed a8se18 Tanglble assets 10 1,246 1,581 Curr8nt assots Debtors Cash al bank and in hand 11 7,933 2,522 92,859 95,280 Credltors: Amounts falllng due wlthln one year 12 Net curient assets 88,868 Net assets Funds of tho ¢harlty: Restrlcted lund8 2,721 2,861 Unre8trlcted Income funds Unreslricled funds Total fund8 13 ncial statements on pages 13 10 20 were approved by the trustees, and authorised for Issu8 on and signed on Iheir behalf by.. dsc PhD RM the Trustee8 Page 14
The MASIC Foundatlon Note8 to the Flnanclal Slatements for the Year Endod 31 December 2023 1 Charfty ststus The charity is a charitabl& incorporated organl8ation and consequenlty does not have share capital. 2 Aecountlng pollcle8 Summary of slgnlfl¢ant a¢¢ountlng poll¢le8 and key accountlng estknates The prlncipal accounting policies applied in the preparation of these financial statements are sel out below, These policies have been consislenlly applSed to all the years piesenled, unless otherwise staled. Statement of compllanc8 The financial statements have teen prepared in accordance with Accounting and Reportlng by Charities= Statement of Recommended Practice applicable to charities PT8paring their acoounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102} {effeclive l January 20151 (Charities SORP {FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). BaB18 of prepayatlon Th8 MASIC Foundatlon meets the definition of a publlc benefit entity under FRS 102. Assets and liabilities are initially recognised at historlcal cost or transaction value unless otherwise slated In the re18vant aocountlng poll¢y notes. Golng concern The Iruslees consider Ihat there are no material uncertainties about the charity's ability to continue as a golng concern nor any signifi¢ant areas of uncertainty that affect the oarrylng value of assets held by the charlty. Incomg and endowments All M)come is recognised once th8 charity has enlillemenl lo the income, it Is probable Ihal the inwme will be r1Ved and the amount of the Income recelvable can be measured reliabty. Donatlons and 18gacl Donallons are recognised when the charity ha5 been nollfted In wrlllng of both Ihe amoltnt and settlement dale. In the event that a donation is subject lo conditions that require a level of performance by the charity before the charity is enlilled to the funds. the income is deferred and not recognised until ellher those conditions are fulw mel, or the fulfilment of those condiltons is wholty withln the wnlrol of the chaflty and it is probable that these condilKJns will be fuwilled in the reporting period. Grants recelvablo Grants are recognised when the charity has an enlillement lo the funds and any condition$ Ilnked lo the grants have been met. Where performance conditions are allached lo Ihe grant and are yel to be mel, the Income is recognised as a liability and included on the balance sheet as deferred income to be released. Pag8 15
The MASIC Foundatlon Note8 to the Flnanclal Stat¢monts ft*r tho Year Ended 31 Decembor 2023 Expendlture All expenditure Is recognised once there 1$ a legal or constructive obligation to that expenditure, It is probabl8 settlement is requlred and the amount can be measured refiably. All costs are allocated to the applicable expenditure heading Ih8t aggregate similar costs to that category. Where costs cannot be directly allrlbuted lo particular headings they have been albcated on a basls con8lslent with the use of resources, with central staff costs allocated on the basis of time spent, and depr¢clatSon charges allocated on tho portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Ralslng funds These are costs incurred in attracting voluntary income, the management of investments and those incurred In trading 8clivilles that raise funds. Charltablè actlvltles Chaiitable expendilure comprises those costs incurred by th8 charity in the d&llvery of Its activities and seNlces for Ils beneficiaries. It includes both costs that can be allocated directly to such &tivilies and those costs of an indire¢t nature necessary to support Ih8m. Governance c08ts These Include the costs attribulab18 to the charlty's compllance with con81ilutional and slatulory requirements, Including audit, slfategic management and truslees's meeting8 and reimbursed expenses. Governmont grontg Government grants are recognised based on the acGru81 model and are measured al the fair value of the asset received or receivable. Grants are Classified 8s relaiing either to revenue or lo assets. Grants relating lo revenue are recogllised in income over the period In which the related costs are fecognised. Grants relallng lo assets are reGognised overthe expe¢ted useful lifé of the asset. Where part of a grant relating to an a5sel is deferred, it is recognised as deferred income. Tanglble flxed as$e18 We capilallse the purchase of any tsnglble item with a useful economic lif8 over 1 year. Depreclatlon and amortlBallon Depreciation is provlded on tangible fixed assets so as to WTlte off the cost or valuallon, less any esllmated resldual value. over Ihelr expected useful economic life as follows: A88et class Offl¢e equipment Depreclallon method and rata 33.3fyA on reducing balance Fund $tructuio Unrestricted Income funds are general funds that are available for use al the Irustees's dlscretlon In furtherance of the objecl¢ves of Ihe charity- Reslricled Income funds are those donated for use In a partlcular area OT ft)r speGlfic purposps, the use of whlch Ss restflded to Ihat area or PUTPOSe. Pag8 16
Tho MASIC Foundatlon Nole8 to the Flnan¢lal Statgmgnts for tho Year Ended 31 Oecember 2023 3 In¢omg from donatlons and legacles Restrlctod funds Total 2023 Total 2022 Donatlons and legaGiès', Donatlons Grants, In¢ludlng caplt81 grants., Grants 3,268 15,961 7,446 992 3,268 4 Incomo from charltablo acllvltiè8 Total 2023 Total 2022 ChaTilable Sncome., Sponsorship and conference incom8 106 893 S Expendmure on charltable acllvltles Unre5trl¢ted funds Restrlcted funds Total 2023 Total 2022 General Nol• Conference and event costs GoveTnance costs 15,748 99,763 115511 15,748 102,971 118.719 18,768 101035 119803 3,208 £115,511 {2022- £109,374) of the above expenditure was allrlbulable to unrestrlcted funds and £3,208 12022- £10.4291 to reStrted funds. 6 Other expfrndllure Unrgslrlct•d funds Total 2023 Total 2022 General Legal lees Markeling and publlclty Depredallon, amortlsatSon and other slmSlar costs other resour$ expended Independent ExanNner's [eMUneraon 2,136 1,486 623 3,612 1,577 2.136 1,486 623 3.612 1,577 2,291 1,071 791 88 Page 17
Tho MASIC Foundatlon Note# to the Flnanclal Statements for the Year Ended 31 Decembor 2023 Anoly818 of gov&rnance and svpport cost8 Gov¢rnanco Costs Unrestrlcted fund8 Restrlcted Total funds 2023 Total 2022 General Staff costs Wages and 5aiar(85 Pension Gosts Olh8r staff costs Legal fees Other governance costs 85.195 5.406 90 3,208 88.403 5.406 90 89,113 2.350 1,784 3 208 102 971 101,035 Ind•p•ndènt oxamlnorfs r¢mun•ratlon 2023 2022 Taxatlon The charity is a registered charity and is therefore axempl from taxatton, Page 18
Tho MASIC Foundatlon Not88 to the Flnanclal Stalom8nts for the Yr Ended 31 De¢gmbor 2023 10 Tanglble flxed a88ets Furnlture and equlpment Totsl Cost Al 1 January 2023 Addilions 2,806 288 2,806 288 At 31 December 2023 Depreclallon At 1 January 2023 Charge for the year 1,225 623 1,225 623 At 31 Decemkr 2023 Net book valuo Al 31 December 2023 1,246 Al 31 D8cemb8r 2022 1581 11 Debtors 2023 2022 Other debtors 2,522 12 Crfjdltorn.. amounts falllng due wlthlTr ong year 2023 2022 Other laxalion and social security Other ¢redilor8 Aral8 2,613 278 2,598 2,654 1,140 Page 19
The MA81C Foundatlon Notes to the Flnanclal Statemgnts for the Year Ended 31 December 2023 13 Fund8 Balance at 1 January 2023 Incomlng rnsources Rèsourcos Balanc• at 31 oxpondod Do¢embBr 2023 UnrestYl¢ted funds General General 87,788 122,741 (126,208} 84.321 Ro8trlcted funds Reslricled funds 3,208 2.721 Total funds 126 009 129416 Balan¢6 al 1 January 2022 Incomlng r68our¢tr¥ Rosour¢es Balaneo at 31 Oxponded Dg¢?mbgr 2022 Unrestrlcted fund8 G•noral General 83,568 119,qOO {114,880) 87,788 Reslrlcted funds Reslricled funds Total funds 95,568 120 190 125,309 Page 20