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 FInar￿la1 Statemen18
15to20

Tho MASIC Foundatlon
Reforenco and Admlnlstrotlve Dotalls
TN6t¢e8
Prof Mi¢hael Ke￿hleY MA MS FRCS, President Ireglgned 1 June 2023 as Trustee remalns Presldent)
Prof Debra Bick Mmedsc PhD RM, Chair
Julie Cornish MD FRCS
GeOff￿Y 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 D￿ember 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, $o¢lal media and reswndlng to the many injured women who reach out to us via a
number of platforms. North West was a starting point in 2022 for our peer to peer support groups and
we continued to run groups there at the Ronald McDonald House Manchesl6r in 2023 and covered a
number of topics aGross Ihe year including a wonderful talk from psychosexual counsellor Sarah Edge.
The Cardiff support group Contin￿ed lo flourish and we look forward to worklng with the team in 2024
10 expand our ￿ach In the Surrounding areas. MASIC advocate and Trustee Joanna Prance launched
a support group In Gullford covering Surrey, Hampshire and Berkshire. Joanna and the team will
continu8 to seek to develop clinical ne￿orkS in the area lo drive referrals to the group. We thank TK
Maxx who kindly donated lo the running costs of this group. MASIC Trusteè Samantha Vlncent also
launch8d a support group al Hillingdon NHS Trust In response to requests from patients and we look
fo￿ard to supportlng Samantha with this group. Building on Ihe8e groups and Ihe growSng need for
support is a key straleglc aim for the charity and we will continue to Seek funding and make plans in
order to increase th1$ 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@.t￿8GG&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 ne￿ork 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 ir￿reaSe
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 adv￿ate, 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 be￿een 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-t￿daY 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 a￿oUnts 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
DrO1￿1¢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 r￿1Ved 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 reStr￿ted 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 [eMUnera￿on
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 Y￿r 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
A￿r￿al8
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