**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:
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 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.
Page 2
**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
Page 3
**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:
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
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 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
Page 6
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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...
Page 11
**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...
Page 12
**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...
Page 13
**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...
Page 14
**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.
Page 15
**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
Page 16
**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
Page 17