REGISTERED CHARITY NUMBER: 1174480
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
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 2023
| 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 | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
ORCHARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
The trustees present their report with the financial statements of the charity for the year ended 28 February 2023. 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.
Sixty per cent 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:
-
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.
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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.
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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.
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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.
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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 2023
ACHIEVEMENT AND PERFORMANCE
Key achievements, principal activities and fundraising
The past 12 months have seen a lot of success from Orchard. Our psilocybin trial started in September 2022 and will last for 18 months. We also welcomed our first member of staff as the Head of Fundraising and Communications in January 2022.
We have completed our second research project which is trialling transcranial direct current stimulation as a potential treatment for OCD. This is a medical device that provides a very faint electric current to the brain. We have worked with the University of Hertfordshire on this promising new treatment and the results of this study came out in early 2023 showing that the medical device was safe and effective.
Orchard announced a 2022 call for proposals in February, and we had many promising proposals for treatments for OCD. Our scientific panel judged these proposals and our winning proposal was the University of Chicago's study "Double-blind Randomised Placebo-controlled study of Tolcapone for OCD". A team at the University of Chicago have tested tolcapone out in a pilot study and found it improved OCD symptoms. Tolcapone is currently used to manage Parkinson's disease. They will test this drug out on patients for 8 weeks to see whether it improves OCD symptoms: 60 individuals with OCD will be recruited and will receive 100mg of Tolcapone twice per day against a placebo group. This study is due to start in 2024 and will last 24 months.
On top of running OCD research projects, we have received funding for a two-year project to build a registry of OCD patients. Registries are crucially important for medical research as they can accelerate recruitment into clinical trials of potential treatments and increase our understanding of a disorder such as OCD by asking patients to report their symptoms and current treatments. Our registry launched successfully in early 2023.
Alongside the OCD Registry, we have worked in partnership with the University of Hertfordshire to create an OCD survey asking important questions about barriers against participating in OCD research, including psychedelic research. We will be disseminating this survey in early to mid 2023. We are aiming for a high uptake and to release the data of the survey in the later part of 2023.
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 2022, Sean Fletcher interviewed Dr Sharon Morein, an Associate Professor at Anglia Ruskin University in Cambridge on 'OCD & Hoarding'.
Chair of Orchard Nick Sireau and OCD expert Professor Naomi Fineberg both spoke at the British Association for Psychopharmacology (BAP) at their summer meeting at Imperial College London. Nick did a lecture about experiences living with OCD and Professor Fineberg spoke about OCD in a post-pandemic era.
In 2022 we released our first-ever impact report. We will now be doing an impact report every year to show the impact Orchard has had on OCD research and treatments
We had fundraising success during our financial year. We raised £10,000 from the National Lottery Awards for All scheme to fund an OCD video series to highlight the devastating effects of OCD. To end the year, we raised £7,295 from our first-ever Christmas appeal. These funds will also go towards our OCD video series that we will be filming in early 2023.
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ORCHARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
FINANCIAL REVIEW
Financial position
The charity is funded principally from donations. During the period donations of £80,288 (2022: £170,602) were received. This included donated services of £21,709 (2022: £nil).
Grants are sought for research into particular areas. During this financial year grants totalling £50,000 (2022: £40,000) were received.
Expenditure during the period was £189,804 (2022: £30,545); leaving reserves of £296,879 (2022: £356,390) of which £88,224 (2022: £156,042) 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 £73,655 (2022: £200,348).
FUTURE PLANS
Research:
In 2023, our psilocybin research project will continue. We will also be fundraising for new OCD research projects. The University of Chicago study will start in 2024 and last for 24 months.
We have been working in partnership with Costello Medical to produce a report on the 'Cost of Illness': this will show the cost OCD has on the National Health Service, the economy and society here in the UK. We will be disseminating these results in 2023.
Hubs:
Our registry will be key in pushing forward OCD research. Our OCD survey will also be launched to learn OCD patients views on alternative therapy.
Dissemination:
We will continue to host webinars in partnership with Made of Millions in 2023. Our video series will be filmed and disseminated to our supporters in 2023.
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
Principal address
66 Devonshire Road Cambridge CB1 2BL
Trustees
Dr N T Sireau PhD Mr V Garzya MBA Mr S T Fletcher Dr N A Fineberg Mr N J Balmer
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ORCHARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
REFERENCE AND ADMINISTRATIVE DETAILS 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 2023.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
Date: .............................................
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ORCHARD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 50,502 Charitable activities 4 Charitable activities - Investment income 3 5 Total 50,507 EXPENDITURE ON Raising funds 281 Charitable activities Charitable activities 41,919 Total 42,200 NET INCOME/(EXPENDITURE) 8,307 RECONCILIATION OF FUNDS Total funds brought forward 200,348 TOTAL FUNDS CARRIED FORWARD 208,655 |
Restricted funds £ 29,786 50,000 - 79,786 10,000 137,604 147,604 (67,818) 156,042 88,224 |
2023 Total funds £ 80,288 50,000 5 130,293 10,281 179,523 189,804 (59,511) 356,390 296,879 |
2022 Total funds £ 170,602 40,000 - |
|---|---|---|---|
| 210,602 | |||
| 22,281 8,264 |
|||
| 30,545 | |||
| 180,057 176,333 |
|||
| 356,390 |
The notes form part of these financial statements
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ORCHARD
BALANCE SHEET 28 FEBRUARY 2023
| Unrestricted funds Notes £ CURRENT ASSETS Debtors 11 890 Cash at bank 345,251 346,141 CREDITORS Amounts falling due within one year 12 (137,486) NET CURRENT ASSETS 208,655 TOTAL ASSETS LESS CURRENT LIABILITIES 208,655 NET ASSETS 208,655 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - 88,224 88,224 - 88,224 88,224 88,224 |
2023 Total funds £ 890 433,475 434,365 (137,486) 296,879 296,879 296,879 208,655 88,224 296,879 |
2022 Total funds £ 138 360,025 360,163 (3,773) 356,390 356,390 356,390 200,348 156,042 356,390 |
|---|---|---|---|
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 2023
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
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
1. ACCOUNTING POLICIES - continued
Debtors
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.
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
3.
| DONATIONS AND LEGACIES | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| Donations Donated services and facilities Donated services and facilities: |
2023 £ 58,579 21,709 80,288 |
2022 £ 170,602 - 170,602 |
|||
| Donor | Service donated | 2023 | 2022 | ||
| Consultancy | |||||
| Costello Medical | Building a cost-of-illness model for OCD | 21,709 | - | ||
| INVESTMENT INCOME Deposit account interest |
2023 £ 5 |
2022 £ - |
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
| 4. INCOME FROM CHARITABLE ACTIVITIES Activity Grants Charitable activities Grants received, included in the above, are as follows: Bally's Foundation National Lottery Fund 5. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Hertfordshire Partnership: FEATSOC study Imperial College London: Psilocybin study |
2023 £ 50,000 2023 £ 40,000 10,000 50,000 2023 £ 137,604 2023 £ 57,604 80,000 137,604 |
2022 £ 40,000 |
|
|---|---|---|---|
| 2022 £ 40,000 - |
|||
| 40,000 | |||
| 2022 £ - |
|||
| 2022 £ - - |
|||
| - |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
During the year no Trustee expenses were paid (2022: nil).
7. STAFF COSTS
| STAFF COSTS | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 3,355 | - | |
| Social security costs | 254 | - | |
| 3,609 | - | ||
| The average monthly number of employees during the year was as follows: | |||
| 2023 | 2022 | ||
| Head of Fundraising and Communications | 1 | - |
No employees received emoluments in excess of £60,000.
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 170,602 - 170,602 Charitable activities Charitable activities - 40,000 40,000 Total 170,602 40,000 210,602 EXPENDITURE ON Raising funds 4,281 18,000 22,281 Charitable activities Charitable activities 8,264 - 8,264 Total 12,545 18,000 30,545 NET INCOME 158,057 22,000 180,057 Transfers between funds 504 (504) - Net movement in funds 158,561 21,496 180,057 RECONCILIATION OF FUNDS Total funds brought forward 41,787 134,546 176,333 TOTAL FUNDS CARRIED FORWARD 200,348 156,042 356,390 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2023 2022 £ £ Independent Examiner's fee 1,548 1,440 |
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 170,602 - 170,602 Charitable activities Charitable activities - 40,000 40,000 Total 170,602 40,000 210,602 EXPENDITURE ON Raising funds 4,281 18,000 22,281 Charitable activities Charitable activities 8,264 - 8,264 Total 12,545 18,000 30,545 NET INCOME 158,057 22,000 180,057 Transfers between funds 504 (504) - Net movement in funds 158,561 21,496 180,057 RECONCILIATION OF FUNDS Total funds brought forward 41,787 134,546 176,333 TOTAL FUNDS CARRIED FORWARD 200,348 156,042 356,390 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2023 2022 £ £ Independent Examiner's fee 1,548 1,440 |
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 170,602 - 170,602 Charitable activities Charitable activities - 40,000 40,000 Total 170,602 40,000 210,602 EXPENDITURE ON Raising funds 4,281 18,000 22,281 Charitable activities Charitable activities 8,264 - 8,264 Total 12,545 18,000 30,545 NET INCOME 158,057 22,000 180,057 Transfers between funds 504 (504) - Net movement in funds 158,561 21,496 180,057 RECONCILIATION OF FUNDS Total funds brought forward 41,787 134,546 176,333 TOTAL FUNDS CARRIED FORWARD 200,348 156,042 356,390 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2023 2022 £ £ Independent Examiner's fee 1,548 1,440 |
Restricted funds £ - 40,000 40,000 18,000 - 18,000 22,000 (504) 21,496 134,546 156,042 |
Restricted funds £ - 40,000 40,000 18,000 - 18,000 22,000 (504) 21,496 134,546 156,042 |
Total funds £ 170,602 40,000 210,602 22,281 8,264 30,545 180,057 - 180,057 176,333 356,390 |
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| 1,548 | 1,440 | ||||
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
| 10. TANGIBLE FIXED ASSETS COST At 1 March 2022 and 28 February 2023 DEPRECIATION At 1 March 2022 and 28 February 2023 NET BOOK VALUE At 28 February 2023 At 28 February 2022 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 13) Trade creditors Other creditors 13. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts |
2023 £ 890 2023 £ 135,000 180 2,306 137,486 2023 £ 135,000 |
Computer equipment £ 1,466 1,466 - - 2022 £ 138 2022 £ - 1,350 2,423 3,773 2022 £ - |
|---|---|---|
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund Tolcapone Study Restricted funds Research into the efficacy of Psilocybin Patient Registry Video Project TOTAL FUNDS Net movement in funds, included in the above are a |
At 1/3/22 £ 200,348 - 200,348 116,042 40,000 - 156,042 356,390 s follows: |
Net movement in funds £ 8,307 - 8,307 (65,000) (7,818) 5,000 (67,818) (59,511) |
Transfers between funds £ (135,000) 135,000 - - - - - - |
At 28/2/23 £ 73,655 135,000 |
|---|---|---|---|---|
| 208,655 51,042 32,182 5,000 |
||||
| 88,224 | ||||
| 296,879 | ||||
| Unrestricted funds General fund Restricted funds Research into the efficacy of Psilocybin Patient Registry Video Project TOTAL FUNDS |
Incoming resources £ 50,507 15,000 49,786 15,000 79,786 130,293 |
Resources Movement expended in funds £ £ (42,200) 8,307 (80,000) (65,000) (57,604) (7,818) (10,000) 5,000 (147,604) (67,818) (189,804) (59,511) |
|---|---|---|
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1/3/21 in funds £ £ Unrestricted funds General fund 41,787 158,057 Restricted funds Research into the efficacy of Psilocybin 116,042 - Research into TDCS 18,504 (18,000) Patient Registry - 40,000 134,546 22,000 TOTAL FUNDS 176,333 180,057 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 170,602 Restricted funds Research into TDCS - Patient Registry 40,000 40,000 TOTAL FUNDS 210,602 |
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 |
|---|---|
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.
OCD Video Project: a grant from the National Lottery, together with income from other fundraising campaigns, to produce information videos relating to OCD.
Patient Registry: funds received from the Bally's 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.
Designated Tocapone Study: represents funds designated by the Trustees towards the studies being held with the University of Chicago.
continued...
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ORCHARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
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ORCHARD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023
| 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 Charitable activities Insurance Telephone Postage and stationery Marketing Travel expenses Consultancy Donated consultancy services Grants to institutions Support costs Management Wages Social security Governance costs Bookkeeping Carried forward |
2023 £ 58,579 21,709 80,288 5 50,000 130,293 281 10,000 243 188 396 2,368 89 11,380 21,709 137,604 173,977 3,355 254 3,609 389 389 |
2022 £ 170,602 - |
|---|---|---|
| 170,602 - 40,000 |
||
| 210,602 281 22,000 - 267 - 3,676 11 2,687 - - |
||
| 6,641 - - |
||
| - 135 135 |
This page does not form part of the statutory financial statements
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ORCHARD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023
| Governance costs Brought forward Independent Examiners fees Total resources expended Net (expenditure)/income |
2023 £ 389 1,548 1,937 189,804 (59,511) |
2022 £ 135 1,488 |
|---|---|---|
| 1,623 | ||
| 30,545 | ||
| 180,057 |
This page does not form part of the statutory financial statements
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