Charity number: 1174620 NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report statement of financial aclivities Balance sheet Notes to Ihe financlal statements
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustaos Dr M B Sidery P R Norton J J Clibbon (resigned 19 December 2024) Dr X Coll Prof l Johnson (resigned 1 September 20211 N Sparrow (resigned 1 September 20211 D Broadway Iresiqned April 20221 Prof D G I Scott (resigned 1 April 2022, reappointed 1 July 20221 Dr S J Morris Iresiqned 1 April 20221 Prof V C Rodrigues Iresigned 1 April 20221 Dr C Mukhlyar (appointed 19 December 20241 Charlty reglstered number 1174620 Prlnelpal offlce 1 Rimer Close Norwich Norfolk NR5 9HZ Accountants Larking Gowen LLP Chartered Accountants Prospect House Rouen Road Norwich NR1 1RE Page 1
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together with the financial statements of the Norfolk Medical and Dental Education and Research Trust for the 1 April 2021 to 31 March 2022. Objectives and activities Policies and objectives Under the charitls constitution, the charitls object is the advancement of health by the promotion of medical and dental education and research amongst health care professionals based in and around Norfolk. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public beneftt.. running a charity IPB21'. b. Strategies for achieving objectives Since incorporation, the Trustees have acted to effect the transfer to the charity of the assets and grantmaking activity of The Norfolk and Norwich Hospital Bicentenary Trust Icharity number 3112971 and NANIME Charitable Trust Icharttable number 10669651. An initial cash transfer look place in JLJIY 2019. The remaining assets have not been transferred al the time of signing. No grants have been awarded during the year. Review of activities Due to adminislralive difficulties the remaining assets and activities of The Norfolk and Norwich Bicentenary Trust have not been transferred. and therefore il was decided not lo award any grants during the year. Page 2
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Financial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves policy Free reserves (consisting of the total funds) at 31 March 2022 amounted lo £52,62612021 £54,606). Reserves are held to fund the objectives of the charity. Funds to be received On 19th December 2024, the Trustees of Norfolk Medical and Dental Education and Research Trust, The Norfolk & Norwich Hospltal Bicentenary Trust and Norfolk & Norwich Institute for Medical Education approved resolutions confirming authorisalion to complete the transfer of funds and investments from The Norfolk & Norwich Hospital Bicentenary Trust and Norfolk & Norwich Inslttute for Medical Education to Norfolk Medical and Dental Education and Research Trust. The details of this transfer are included in note 8. Structurei governance and rnanagement Constitution Norfolk Medical and Dental Education and Research Trust is a registered charity, number 1174620, and is govemed under a CIO conslitub'on dated 12 September 2017 b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the conslitulion. New trustees are appointed by the existing Iruslees. All appointrnenls are made with consideration to the skills, knowledge and experience needed to support the Charity's objectives. Page 3
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Statement of Trustee's responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial stslemenls for each financial which give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adeqLJate accounting records that are sufficient lo show and explain the Charitys transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reportsl Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. P R Norton Trustee Date.. 7 July 2026 Page 4
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note Total income Expenditure on: Charitable activities.. Support costs Support costs 1,980 1720) 1,980 1720) 2,511 Total expenditure 1,260 1,260 2,51 1 Net movement in funds {1.260) {1.260) (2,511) Reconciliation of funds.. Tol81 funds brought forward Nel movement in funds 54.606 {1,260) 54.606 {1,260) 57,117 (2,51 1) Total funds carried forward 53.346 53.346 54,606 The notes on pages 7 10 9 fom) part of these financial stalemenls. Page 5
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Current assets Debtors Cash at bank and in hand 2,225 59,452 2,225 59,452 Creditors.. amounts falling due within one year 18,3311 (7,071) Net currgnt a$$gts 53.346 54,606 Total net assets 53.346 54,606 Charity funds Unreslricled funds 53.346 54,606 Total funds 53.346 54,606 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. P R Norton Trustee Date: 7 July 2026 The notes on pages 7 10 9 form part of these financial stalemenls. Page 6
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies 1.1 Basis of praparation of financial statgmgnts The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Norfolk Medical and Dental Education and Research Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inib.ally recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 1.2 Expendituro Expenditure is recognised Dnce there is a legal or constrLJCtive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support costs. l expenditure is inclusive of irrecoverable VAT. 1.3 Debtors Trade and other debtors are recognised al the selllemenl amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.4 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.5 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it Is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Liabilities are rec(nISed at the amount that the Charity anticipates il will pay lo sellle the debt or the amount it has received as advanced payments for the goods or services it must provide. 1.6 Financial instrumonts The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inrtially recognised al transaction value and subsequently measured al their settlement value with the excepb.on of bank loans which are subsequently measured al amortised cost using the effective interest method. Page 7
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (continued) 1.7 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designaled for other purposes. Analysis of expenditure by activities Support costs 2022 Total funds 2022 Total funds 2021 Support Costs 1,260 1,260 2,51 I Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2021- £NIL). During the year ended 31 March 2022, no Trustee expenses have been incurred (2027 - £NILJ. Debtors 2022 2021 Due within ona ygar Trade debtors 2.225 2,225 2.225 2,225 Creditors.. Amounts falling due within one year 2022 2021 Trade creditors 15 f 5 Accruals and deferred income 8,316 7,056 8,331 7,071 Page 8
NORFOLK MEDICAL AND DENTAL EDUCATION AND RESEARCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Statement offunds Statement of funds - current year Balance at 31 March 2022 Balance at 1 April 2021 Expenditure Unrestricted funds 54.606 (1,2601 53.346 General fund Statement of funds - prior year Balance al 31 March 2021 Income Expenditure Unrestrlcted funds General Fund 57,117 (2,57 1) 54,606 Related party transactlons The Norfolk Medical and Dental Education and Research Trust has not entered into any related party transaction during the year, nor are there any oulslanding balances owing between related parties and the Norfolk Medical and Dental Education and Research Trust al 31 March 2022. Post balance sheet events On 19th December 2024, the Trustees of Norfolk Medical and Dental Education and Research Trust, The Norfolk & NOlCh Hospital Bicenlen8ry Trust and Norfolk & NoNich Institute for Medical Education approved resolutions confiming aulhorisalion lo complete the transfer of funds and investments from The Norfolk & Norwich Hospital Bicentenary Trust and Norfolk & Norwich Institute for Medical Education lo Norfolk Medical and Dental Education and Resgarch Trust. At the dale of approval of these financial statements it has not proved possible to complete those transfers. The latest financial statements of The Norfolk & Norwich Hospital Bicentenary Trust prepared as at 31 December 24 included nel assets of £636,000. The Trustees estimate the assets lo be received from Norfolk & Norwich Institute for Medical Education at £203,000. Page 9