**REGISTERED CHARITY NUMBER: 1174480**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **FOR**
## **ORCHARD**
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
**ORCHARD**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
**ORCHARD**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022**
The trustees present their report with the financial statements of the charity for the year ended 28 February 2022. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Orchard is a charity focusing on developing treatments for patients suffering from obsessive-compulsive disorder (OCD), a serious mental illness. We work with academia, clinicians, pharmaceutical/biotech companies, government agencies, patients and other charities to fast-track the development of new and innovative treatments for OCD.
OCD is a common, chronic and severely disabling mental illness that affects at least a million people in the UK alone. It is characterised by intrusive thoughts (obsessions) and accompanying rituals (compulsions) aimed at reducing anxiety and distress.
60% of OCD patients are also depressed and many are suicidal. The lifetime prevalence of OCD is 2-3%. It affects all population groups regardless of gender and culture.
There is an urgent need for the development of new and better treatments, yet the field is severely underfunded. Very little research is carried out by the pharmaceutical industry, and funding for academic research is scarce and difficult to obtain. This is why we have set up Orchard in order to raise much-needed funding for OCD research.
## **Public benefit**
In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
For the public benefit, the charitable objects are:
1. to promote and protect the physical and mental health of sufferers of OCD and related disorders, their families and carers including (but not limited to) through the provision of support, education and practical advice.
2. to improve the diagnosis, treatment and care of persons suffering from OCD and related disorders and their families and carers by facilitating, setting up and supporting (including (but not limited to) by way of funding) specialised and highly skilled, multi-disciplinary international teams to develop new and effective methods of diagnosis, treatment and management of and services for OCD and related disorders and to assist in the publication and dissemination of the useful results.
3. to assist in such ways as the charity Trustees think fit any charity whose aims include promoting and/or protecting the physical and mental health of sufferers of OCD and related disorders, their families and carers through the provision of funding, grants, support and practical advice.
4. to advance the education of the general public in all areas relating to OCD and related disorders and to raise awareness of and reduce the stigma related to OCD and related disorders and assist in such ways as the charity Trustees think fit including (but not limited to) through lectures, seminars, webinars, workshops, through the internet and social media and publication of newsletters and research papers and in any other ways in which the charity Trustees think fit.
5. to advance the education of the public in general (and particularly amongst healthcare professionals and scientists) on the subject of OCD and related disorders and to promote research for the public benefit in all aspects of that subject and to assist in the publication and dissemination of the useful results.
The Trustees have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance.
Page 1
**ORCHARD**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Key achievements, principal activities and fundraising**
It's been a successful year for Orchard, we now have two funded OCD research projects, increased our online presence, and ran a widespread OCD online questionnaire to learn more about the needs of OCD patients in terms of research.
Due to COVID-19 our Psilocybin research study has been delayed. In 2020 we raised £60,130 from our crowdfunding campaign to fund a clinical trial psilocybin, a psychedelic, as a potential treatment for OCD. This is a clinical study of psilocybin - a psychedelic - at Imperial College under the leadership of Prof David Nutt, a world renowned neuropsychopharmacologist specialising in the research of drugs that affect the brain and conditions such as addiction, anxiety, and sleep. He is the Edmond J Safra chair in Neuropsychopharmacology at Imperial College London and director of the Neuropsychopharmacology Unit in the Division of Brain Sciences there.
Prof Nutt will carry out a clinical study on 15 patients with OCD and 15 controls (without OCD). These will be recruited through Prof Naomi Fineberg's OCD specialist centre. Prof Fineberg is a Consultant Psychiatrist and Visiting Professor at the University of Hertfordshire and a trustee of Orchard.
Participants in the study will be given a low dose of psilocybin within a therapeutic unit at Imperial College. The clinical team will then evaluate the OCD patients' levels of obsessions and compulsions to see if the medicine has helped reduce these. The aim of the project is to show the feasibility of carrying out a much larger study with psilocybin on more patients in order to then seek regulatory approval for the drug to be used as a treatment for OCD. We have now started recruitment for this study.
Our second research project is trialling transcranial direct current stimulation as a potential treatment for OCD. The study is designed to test whether small electrical currents applied to the scalp (called transcranial direct current stimulation, or tDCS) can help treat OCD. Some current passes into the brain where it may change brain functioning. Evidence suggests this could help ease OCD symptoms. This type of brain stimulation is new and experimental, so this project aims to answer basic questions, including if this stimulation shows signs of working, what are the side effects and if doctors and patients are willing to use it. The project also looks at which areas of the brain should be targeted and how long the effects last.
We have collected valuable information about whether this form of stimulation is a useful treatment for people with OCD, and about how this stimulation might be best used on a wide scale in practice. The information collected will be used to design a larger scale study for which we will seek funding from appropriate NHS programmes. We worked with the University of Hertfordshire on this promising new treatment and the results of this study will come out in 2022.
In 2021, we increased our social media presence on Instagram, Twitter and Facebook. We also started to send a monthly e-news to our email subscribers to update them and to promote new OCD research studies. We will continue this in 2022. We worked with an illustrator, animator and photographer called Khushi Inamdar who created an informative OCD animation that we shared on our website, e-news and social media. This short video explains OCD clearly and its misconceptions.
We have continued working in partnership with the mental health advocacy charity, Made of Millions, to create informative online webinars. These webinars have been hosted by Orchard trustee and TV journalist Sean Fletcher. In February 2021, we hosted the webinar "Treating OCD During the COVID Pandemic feat. Professor Fineberg & Sean Fletcher". Professor Naomi Fineberg made a virtual presentation and Sean hosted a Q&A afterwards.
In July 2021, we hosted a webinar "Deep Brain Stimulation for OCD: A Conversation with Dr Himanshu Tyagi and Sean Fletcher" where Dr Himanshu Tyagi discussed his research into deep brain stimulation. We will continue to host webinars in partnership with Made of Millions in 2022.
Page 2
**ORCHARD**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022**
Orchard also funded a scientific meeting in October 2021. The 17th Annual Scientific Meeting of the ECNP-OCRN International College of Obsessive-Compulsive Spectrum Disorders (ICOCS) was held in Lisbon on 1st October 2021. This year for the first time it was a hybrid event, with 17 in-person and 21 remotely attending participants spread across the world. As a brand-new format, it was a great success, conducted according to all preventive measures toward the COVID-19 pandemic and allowing the widest possible number of interested people to participate. The main focus of the meeting was on the impact of the COVID-19 pandemic and lockdown on patients in particular with OCD and how to manage them in this period of uncertainty.
In 2021, we worked with the Cambridge Consulting Network to carry out an insight gathering exercise to find out what research is important for OCD patients. More than 220 patients responded to the survey and in-depth interviews were carried out with nine of these. The majority of the participants of the survey (66%) had questions regarding the treatment of OCD, summarised as follows: What is the best treatment for OCD?
The second most common subcategory of questions within the theme of treatment of OCD was about recovery from OCD and whether OCD could be cured, deeply intertwined with the theme of the prognosis of OCD. Examples of questions within this subcategory include:
- Is there a way to make OCD go away forever?
- Will I ever be fully okay again?
- What does recovery look like?
We will use the results of the questionnaire and interviews to inform our OCD research and social media strategy.
## **FINANCIAL REVIEW**
## **Financial position**
The charity is funded principally from donations. During the period donations of £170,602 (2021: £97,882) were received. This included donated services of £nil (2021: £23,247).
Grants are sought for research into particular areas. During this financial year grants totalling £40,000 (2021: £63,504) were received.
Expenditure during the period was £30,545 (2021: £45,514); leaving reserves of £356,390 (2021: £176,333) of which £156,042 (2021: £134,546) were restricted.
## **Reserves policy**
The Trustees aim to maintain general reserves to cover 8 months of expenditure, net of depreciation. At the year end the general reserve was £200,348 (2021: £41,787).
## **FUTURE PLANS**
In 2022, our psilocybin research project will start, and the results of our transcranial direct current stimulation study will be released. We will also be fundraising for more OCD research projects.
Orchard will do another call for proposals in 2022 that will be similar to our 2020 call for proposals. This will be to fund a new OCD research project that we have raised £150,000 for. We will then run a crowdfunding campaign in late 2022 to fundraise for an extra £50,000 for the winning study.
We are continuing to work on our Orchard OCD Patient Registry.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity constitutes a Charitable Incorporated Organisation and is governed by its governing document, registered on 1 September 2017 and amended on 7 September 2018.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1174480
Page 3
**ORCHARD**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **Principal address**
66 Devonshire Road Cambridge CB1 2BL
## **Trustees**
## **Appointment, resignation and reappointment of the trustees**
The trustees of Orchard during the financial year ended 28 February 2021 were as follows:
|**Name**|**Date appointed**|**Date on which Trusteeship ended**|**Date reappointed**|
|---|---|---|---|
|Nicolas Sireau|1 September 2017|1 September 2020|13 April 2021|
|Vincenzo Garzya|1 September 2017|1 September 2020|13 April 2021|
|Gayaneh Szenkovitis|1 September 2017|1 September 2020|N/A|
|Naomi Fineberg|1 September 2017|1 September 2020|13 April 2021|
|Sean Fletcher|17 May 2019|N/A|N/A|
|Neil Balmer|24 November 2020|N/A|13 April 2021|
||(see notes below)|||
Under Orchard's constitution, trustees are appointed for three years.
It is unclear whether Neil Balmer's appointment as a trustee on 24 November 2020 was valid, and accordingly he was reappointed as a trustee on 13 April 2021.
Between 1 September 2020 and 13 April 2021, there were fewer than three trustees. Under clause 9(3) of Orchard's constitution, if the number of trustees falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee. Accordingly, the resolutions of the trustees passed and all actions undertaken by Orchard since 1 September 2020 were ratified at a trustee meeting held on 13 April 2021.
## **Independent Examiner**
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Dr N T Sireau PhD - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ORCHARD**
## **Independent examiner's report to the trustees of Orchard**
I report to the charity trustees on my examination of the accounts of Orchard (the Trust) for the year ended 28 February 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Matthew Pettifer FCA ICAEW Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
Date: .............................................
Page 5
## **ORCHARD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**170,602**
**Charitable activities**
4
Charitable activities
**-**
Investment income
3
**-**
**Total**
**170,602**
**EXPENDITURE ON**
Raising funds
**4,281**
**Charitable activities**
Charitable activities
**8,264**
**Total**
**12,545**
**NET INCOME**
**158,057**
**Transfers between funds**
13
**504**
**Net movement in funds**
**158,561**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**41,787**
**TOTAL FUNDS CARRIED FORWARD**
**200,348**|Restricted
funds
£
**-**
**40,000**
**-**
**40,000**
**18,000**
**-**
**18,000**
**22,000**
**(504)**
**21,496**
**134,546**
**156,042**|**2022**
**Total**
**funds**
**£**
**170,602**
**40,000**
**-**
**210,602**
**22,281**
**8,264**
**30,545**
**180,057**
**-**
**180,057**
**176,333**
**356,390**|2021
Total
funds
£
97,882
63,504
2|
|---|---|---|---|
||||161,388
2,716
42,798|
||||45,514|
||||115,874
-|
||||115,874
60,459|
||||176,333|
The notes form part of these financial statements
Page 6
**ORCHARD**
## **BALANCE SHEET 28 FEBRUARY 2022**
|Unrestricted
funds
Notes
£
**CURRENT ASSETS**
Debtors
11
**138**
Cash at bank
**203,983**
**204,121**
**CREDITORS**
Amounts falling due within one year
12
**(3,773)**
**NET CURRENT ASSETS**
**200,348**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**200,348**
**NET ASSETS**
**200,348**
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**156,042**
**156,042**
**-**
**156,042**
**156,042**
**156,042**|**2022**
**Total**
**funds**
**£**
**138**
**360,025**
**360,163**
**(3,773)**
**356,390**
**356,390**
**356,390**
**200,348**
**156,042**
**356,390**|2021
Total
funds
£
272
178,401
178,673
(2,340)
176,333
176,333
176,333
41,787
134,546
176,333|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Dr N T Sireau PhD - Trustee
The notes form part of these financial statements
Page 7
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Donated services**
The value of donated services and gifts in kind provided to the Charity are recognised at their open market value in the period in which they are receivable as incoming resources, where the benefit to the charity can be reliably measured.
## **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 at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months of less from the date of acquisition or opening of the deposit or similar account.
continued...
Page 8
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Debtors**
## **Creditors and provisions**
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 estimated or measured reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2. DONATIONS AND LEGACIES**
|Donations
Donated services and facilities
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Charitable activities
Grants received, included in the above, are as follows:
L'Arbre Vert grant
WinTrust (Saracens) Foundation
Gamesys Foundation|**2022**
**£**
**170,602**
**-**
**170,602**
**2022**
**£**
**-**
**2022**
**£**
**40,000**
**2022**
**£**
**-**
**-**
**40,000**
**40,000**||2021
£
74,635
23,247|
|---|---|---|---|
||||97,882|
||||2021
£
2
2021
£
63,504|
||||2021
£
30,000
33,504
-|
||||63,504|
continued...
Page 9
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **5. GRANTS PAYABLE**
|Charitable activities
The total grants paid to institutions during the year was as follows:
Hertfordshire Partnership: FEATSOC study|**2022**
**£**
**-**
**2022**
**£**
**-**|2021
£
15,000|
|---|---|---|
|||2021
£
15,000|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 28 February 2022 nor for the year ended 28 February 2021.
## **Trustees' expenses**
During the year no Trustee expenses were paid (2021: nil).
## **7. STAFF COSTS**
There were no employees or staff costs during either the current or last period.
## **8.**
## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
39,620
**Charitable activities**
Charitable activities
-
Investment income
2
**Total**
39,622
**EXPENDITURE ON**
Raising funds
686
**Charitable activities**
Charitable activities
25,608
**Total**
26,294
**NET INCOME**
13,328|Restricted
funds
£
58,262
63,504
-
121,766
2,030
17,190
19,220
102,546|Total
funds
£
97,882
63,504
2|
|---|---|---|
|||161,388
2,716
42,798|
|||45,514|
|||115,874|
continued...
Page 10
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,459
32,000
60,459
**TOTAL FUNDS CARRIED FORWARD**
41,787
134,546
176,333
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
2021
**£**
£
Depreciation - owned assets
**-**
489
Independent Examiner's fee
**1,440**
948
**10.**
**TANGIBLE FIXED ASSETS**
Computer
equipment
£
**COST**
At 1 March 2021 and 28 February 2022
**1,466**
**DEPRECIATION**
At 1 March 2021 and 28 February 2022
**1,466**
**NET BOOK VALUE**
At 28 February 2022
**-**
At 28 February 2021
-
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
2021
**£**
£
Trade debtors
**-**
50
Prepayments and accrued income
**138**
222
**138**
272|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,459
32,000
60,459
**TOTAL FUNDS CARRIED FORWARD**
41,787
134,546
176,333
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
2021
**£**
£
Depreciation - owned assets
**-**
489
Independent Examiner's fee
**1,440**
948
**10.**
**TANGIBLE FIXED ASSETS**
Computer
equipment
£
**COST**
At 1 March 2021 and 28 February 2022
**1,466**
**DEPRECIATION**
At 1 March 2021 and 28 February 2022
**1,466**
**NET BOOK VALUE**
At 28 February 2022
**-**
At 28 February 2021
-
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
2021
**£**
£
Trade debtors
**-**
50
Prepayments and accrued income
**138**
222
**138**
272|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,459
32,000
60,459
**TOTAL FUNDS CARRIED FORWARD**
41,787
134,546
176,333
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
2021
**£**
£
Depreciation - owned assets
**-**
489
Independent Examiner's fee
**1,440**
948
**10.**
**TANGIBLE FIXED ASSETS**
Computer
equipment
£
**COST**
At 1 March 2021 and 28 February 2022
**1,466**
**DEPRECIATION**
At 1 March 2021 and 28 February 2022
**1,466**
**NET BOOK VALUE**
At 28 February 2022
**-**
At 28 February 2021
-
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
2021
**£**
£
Trade debtors
**-**
50
Prepayments and accrued income
**138**
222
**138**
272|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,459
32,000
60,459
**TOTAL FUNDS CARRIED FORWARD**
41,787
134,546
176,333
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
2021
**£**
£
Depreciation - owned assets
**-**
489
Independent Examiner's fee
**1,440**
948
**10.**
**TANGIBLE FIXED ASSETS**
Computer
equipment
£
**COST**
At 1 March 2021 and 28 February 2022
**1,466**
**DEPRECIATION**
At 1 March 2021 and 28 February 2022
**1,466**
**NET BOOK VALUE**
At 28 February 2022
**-**
At 28 February 2021
-
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
2021
**£**
£
Trade debtors
**-**
50
Prepayments and accrued income
**138**
222
**138**
272|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,459
32,000
60,459
**TOTAL FUNDS CARRIED FORWARD**
41,787
134,546
176,333
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
2021
**£**
£
Depreciation - owned assets
**-**
489
Independent Examiner's fee
**1,440**
948
**10.**
**TANGIBLE FIXED ASSETS**
Computer
equipment
£
**COST**
At 1 March 2021 and 28 February 2022
**1,466**
**DEPRECIATION**
At 1 March 2021 and 28 February 2022
**1,466**
**NET BOOK VALUE**
At 28 February 2022
**-**
At 28 February 2021
-
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
2021
**£**
£
Trade debtors
**-**
50
Prepayments and accrued income
**138**
222
**138**
272|Total
funds
£
60,459
176,333|
|---|---|---|---|---|---|
|||||||
|||**2022**||2021||
|||**£**||£||
||||**-**|489||
||||**1,440**|948||
|||||||
|||||||
||||**2022**
**£**
**-**
**138**
**138**|Computer
equipment
£
**1,466**
**1,466**
**-**
-
2021
£
50
222
272||
continued...
Page 11
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other creditors
**13.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Research into the efficacy of Psilocybin
Research into TDCS
Patient Registry
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
Research into TDCS
Patient Registry
**TOTAL FUNDS**|At 1/3/21
£
**41,787**
**116,042**
**18,504**
**-**
**134,546**
**176,333**
follows:|Net
movement
in funds
£
**158,057**
**-**
**(18,000)**
**40,000**
**22,000**
**180,057**
Incoming
resources
£
**170,602**
**-**
**40,000**
**40,000**
**210,602**|**2022**
2021
**£**
£
**1,350**
100
**2,423**
2,240
**3,773**
2,340
Transfers
between
At
funds
28/2/22
£
£
**504**
**200,348**
**-**
**116,042**
**(504)**
**-**
**-**
**40,000**
**(504)**
**156,042**
**-**
**356,390**
Resources
Movement
expended
in funds
£
£
**(12,545)**
**158,057**
**(18,000)**
**(18,000)**
**-**
**40,000**
**(18,000)**
**22,000**
**(30,545)**
**180,057**|
|---|---|---|---|
continued...
Page 12
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **13. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated Fixed Assets
**Restricted funds**
Research into the efficacy of Psilocybin
Research into TDCS
**TOTAL FUNDS**|At
29/2/20
£
27,970
489
28,459
32,000
-
32,000
60,459|Net
movement
in funds
£
13,817
(489)
13,328
84,042
18,504
102,546
115,874|At
28/2/21
£
41,787
-|
|---|---|---|---|
||||41,787
116,042
18,504|
||||134,546|
||||176,333|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated Fixed Assets
**Restricted funds**
Research into the efficacy of Psilocybin
Research into TDCS
**TOTAL FUNDS**|Incoming
resources
£
39,622
-
39,622
88,262
33,504
121,766
161,388|Resources
Movement
expended
in funds
£
£
(25,805)
13,817
(489)
(489)
(26,294)
13,328
(4,220)
84,042
(15,000)
18,504
(19,220)
102,546
(45,514)
115,874|Resources
Movement
expended
in funds
£
£
(25,805)
13,817
(489)
(489)
(26,294)
13,328
(4,220)
84,042
(15,000)
18,504
(19,220)
102,546
(45,514)
115,874|
|---|---|---|---|
||||13,328
84,042
18,504|
||||102,546|
||||115,874|
## Restricted funds
Research into the efficacy of Psilocybin: a grant from L'Arbre Vert Fund towards launching a clinical trial to test the efficacy of psilocybin for the treatment of OCD.
Research into TDCS: a grant from the WinTrust Foundation towards the study of Transcranial Direct Current Stimulation.
Patient Registry: funds received from the Gamesys Foundaton for a two year project working with the University of Hertfordshire to create an OCD patient registry.
## Designated funds
Designated fixed asset fund: represents the net book value of fixed assets held by the Charity.
continued...
Page 13
**ORCHARD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **13. MOVEMENT IN FUNDS - continued**
## **Transfers between funds**
£504 was transferred from the TCDS Research fund to general funds. This represents funds remaining at the end of the TCDS projec which the Trustees sought and received permission to repurpose to the general purposes of the charity.
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 28 February 2022.
Page 14
**ORCHARD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Donated services and facilities
**Investment income**
Deposit account interest
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Subscription
**Other trading activities**
Direct costs of Research
Stripe fees
**Charitable activities**
Telephone
Postage and stationery
Marketing
Travel expenses
Staff training
Consultancy
Grants to institutions
**Support costs**
**Finance**
Computer equipment
**Governance costs**
Bookkeeping
Carried forward|2022
£
**170,602**
**-**
**170,602**
**-**
**40,000**
**210,602**
**281**
**22,000**
**-**
**22,000**
**267**
**-**
**3,676**
**11**
**-**
**2,687**
**-**
**6,641**
**-**
**135**
**135**|2021
£
74,635
23,247|
|---|---|---|
|||97,882
2
63,504|
|||161,388
326
360
2,030|
|||2,390
259
44
2,456
-
135
-
15,000|
|||17,894
489
220
220|
This page does not form part of the statutory financial statements
Page 15
**ORCHARD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**Governance costs**
Brought forward
Independent Examiners fees
Legal fees (donated service)
Total resources expended
**Net income**|2022
£
**135**
**1,488**
**-**
**1,623**
**30,545**
**180,057**|2021
£
220
948
23,247|
|---|---|---|
|||24,415|
|||45,514|
|||115,874|
This page does not form part of the statutory financial statements
Page 16