2022-07-31-accounts

Company no. 10255303 Charity no. 1175553

Fifth Sense

Report and Unaudited Financial Statements 31 July 2022

Fifth Sense

Reference and administrative details

For the year ended 31 July 2022

Company number	10255303
Charity number	1175553
Registered office and	Unit 2, Franklins House
operational address	Wesley Lane
	Bicester
	OX26 6JU
Trustees	Trustees, who are also directors under company law, who served
	during the year and up to the date of this report were as follows:
	Duncan Boak	resigned 21 February 2022
	Azim Karimjee
	Esther Kirby
	Robert Meadowcroft
	Carl Philpott
Bankers	CAF Bank Ltd
	25 Kings Hill Avenue
	Kings Hill
	West Malling
	Kent
	ME19 4JQ
Independent examiners	Godfrey Wilson Limited
	Chartered accountants and statutory auditors
	5th Floor Mariner House
	62 Prince Street
	Bristol
	BS1 4QD

1

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

The trustees present their report along with the financial statements of the charity for the year ended 31 July 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Objectives and activities

The objectives of the charity as defined in the Articles of Association are:

• Promote and protect the physical and mental health of sufferers of smell and taste-related disorders through the provision of support, education and practical advice;

• Advance the education of the general public in all areas relating to smell and taste-related disorders; and

• Further medical knowledge and research in relation to smell, taste and disorders of these senses.

The main activities undertaken by the charity are:

• Provision of information and support to the public, through the publication of various resources via our website, newsletters and social media;

• Engagement with the medical profession to increase awareness of the potential treatment options and to improve the pathways to treatment for those suffering from smell and taste disorders;

• ▪ Engagement with the general public to promote awareness of the impact of smell and taste disorders; and

• Empowerment of our beneficiaries to be able to better manage their own conditions and to improve their resilience in the face of what is for many a debilitating and invisible condition.

The trustees, having due regard for the Charity Commission’s guidance on public benefit, regularly review the activities and operations of the charity to ensure that the delivery of public benefit is central to everything that we do.

Achievements and performance

2021 – 22 has been a year of significant development for Fifth Sense, with changes at both management and board level after we appointed our first Chief Executive. We launched a new website and information resources as part of our National Lottery Community Fund project and saw a return to face-to-face activity, whilst continuing to run our virtual support and information sessions. The return to in-person activity enabled us to increase our public awareness activities, whilst delivering virtual professional development sessions to a range of audiences. A significant milestone was the completion of our Smell and Taste Disorders Priority Setting Partnership and launch of the Fifth Sense Research Hub. We also successfully lobbied government bodies to ensure that the needs of the people we represent were taken into account.

Highlights from the year include:

Staffing

• Recruited our first Chief Executive, appointing our founder Duncan Boak to the position in January 2022, with Duncan stepping down as Chair;

• ▪ Robert Meadowcroft, former Chief Executive of Muscular Dystrophy UK, was appointed Chair; and

• We said goodbye and thank you to Nina Hill who left her post of Director of Development and Operations to return to working in the NHS.

2

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

Support

• Launched a new website, with significant updates and improvements, including translation into a range of other languages and a section of the website aimed at parents of young people experiencing smell disorders;

• Launched a range of information sheets and videos that provide expert-backed information on the range of different smell and taste disorders and causes;

• Launched the Fifth Sense Long Covid Hub on the Fifth Sense website, containing a range of information, resources and tools aimed to people experiencing post-Covid smell dysfunction;

• Established a Parents Support Group in response to demand from parents of children experiencing parosmia following Covid-19 infection;

• Continued our successful #LetsTalkSmellAndTaste virtual sessions, expanding the programme to include the Parosmia Network to support those experiencing parosmia and also regular support sessions for people affected by congenital anosmia. Many of these sessions have been facilitated by Fifth Sense volunteers. We also held an informative session on Advancements in Drug Therapies featuring Prof James Schwob and Dr Graham Wynne. Feedback in response to the sessions continues to be highly positive; and

• Held a successful in-person support and information meeting at the Fashion Hub, Liverpool, in November 2021 in partnership with clinicians from Liverpool University Hospitals NHS Foundation Trust.

Professional education

• Partnered with the University of East Anglia to deliver an inaugural Symposium on Smell and Taste Disorders for clinicians and researchers, held both in-person and virtually at the University of East Anglia, Norwich, in May 2022;

• Delivered educational sessions to a number of NHS England Community Post-Covid Services to increase their understanding of smell and taste disorders and how to support people experiencing this following Covid-19 infection;

• In July we delivered a presentation for the Queen’s Nursing Institute (QNI) Long Covid Nurse Expert Group to highlight the services, support and resources Fifth Sense provides to people; and

• Following the QNI meeting we were invited to give a presentation to the Morecambe Bay Long Covid Nurses and Midwives Network on 28 July.

Public awareness

• Highlighted the importance of our sense of smell to our safety at home at a public engagement event at Livat Hammersmith shopping centre, as guests of independent perfumer and Fifth Sense advisory board member Sarah McCartney;

• Passed information resources on smell and safety to the Lancashire and South Cumbria NHS Foundation Trust HARRI bus, (the Trust’s Health and Wellbeing engagement vehicle) when it visited Barrow in Furness on 8 June 2022; and

• ▪ Gave a talk on smell and taste disorders as part of the ‘Scent Tent’ at Also Festival as guests of Sarah McCartney.

Research

• Completed our Smell and Taste Disorders Priority Setting Partnership (PSP) with the James Lind Alliance and launched the Research Priorities that resulted from this exercise;

• ▪Launched the Fifth Sense Research Hub to take forward our Research Priorities;

3

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

• Worked with researchers at Oxford Brookes University on a project investigating how losing or noticing changes to taste and/or smell due to Covid-19 might have an impact on mental health;

• Supported the development of a successful funding application led by Prof Marianna Obrist at UCL for the I-Smell project to trial digital smell training technology. Fifth Sense is a partner in the project;

• Supported the SmellHealth project led by Prof Marianna Obrist at UCL to get feedback on a digital smell device prototype and app developed by Owidgets;

• Continued to provide PPI input and assisted with recruitment to the NIHR-funded MACRO programme into the effectiveness of treatments for chronic rhinosinusitis;

• Provided PPI input and assisted with recruitment for the Apollo Trial, led by Fifth Sense trustee Prof Carl Philpott, exploring whether Vitamin A could help people regain their sense of smell after viral infections including Covid-19;

• Delivered a symposium on the outcomes of the Priority Setting Partnership at the 2022 UK Semochemistry Network meeting in Cambridge in June 2022; and

• Continued to support the Global Consortium for Chemosensory Research (GCCR) through its Patient Advocacy Committee.

Research and engagement

• We were delighted that the British Society of Perfumers made Fifth Sense their 2022 Charity of the Year. Duncan gave the keynote speech at the Society’s 2022 Symposium in May;

• Held the first Fifth Sense National Conference since the pandemic started with a highly successful in-person event at the Brooklyn Hotel in Manchester, with a number of guest speakers from the chemosensory science field, including Bradley Goldstein, Steven Munger, Prof Marianna Obrist, Prof James Schwob and Dr Graham Wynne;

• Recognised Anosmia Awareness Day on 27 February 2022, launching a survey to capture safety concerns and incidents experienced by people with smell disorders;

• Continued to play an active role in the NHS England Long Covid Collaborative Working Group;

• Had a stand at the 2022 British Rhinological Society meeting in May 2022 in Sheffield, highlighting the support and information resources provided by Fifth Sense to delegates attending the meeting;

• Had extensive media coverage following the press release issued in January in partnership with the University of East Anglia highlighting how children and young people were being affected by parosmia following Covid-19 infection;

• Gave a presentation at the Brazilian Association of Otorhinolaryngology and Head and Neck Surgery smell and taste session of their conference in May 2022;

• Worked with the European Forum for Research and Education in Allergy and Airway Diseases to support the first ever Global Chronic Rhinosinusitis with Nasal Polyps Awareness Day;

• ▪ Supported the first World Smell and Taste Day on 14 September 2021; and

• Continued to increase our social media follower base across Instagram, Twitter, LinkedIn and Facebook.

Lobbying and campaigning

• The General Medical Council added anosmia to its Medical Licensing Assessment content map thanks to lobbying by Fifth Sense, the first time that a smell disorder has been included. The content map sets out the core knowledge, skills and behaviours that medical trainees are assessed on to be ready to practice in the UK;

• Wrote to supermarket Morrisons to raise concerns that their decision to remove sell-by dates from milk products and instead ask customers to use a ‘sniff test’ excluded many vulnerable people with an impaired sense of smell across the UK;

4

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

• Our dialogue with Morrisons led us to contact the Food Standards Agency to help them understand the challenges faced by people with smell and taste disorders in ascertaining whether food is safe to eat. The FSA updated the guidance on their website as a result; and

• Provided a submission to the Acquired Brain Injury Strategy Call for Evidence, calling for the needs of people affected by smell and taste impairment following brain injury to be represented and recognised within the strategy.

Financial review

Our financial position on 31 July 2022 remains strong, thanks to the continued funding from the National Lottery Community Fund and a new funding agreement with Cadent Gas Limited of £471,300 over 3 years, for which we are truly grateful.

In addition, we received grants totalling £7,500 from GSK, Sanofi and Medtronic to support our very successful National Conference in Manchester in November 2021. A sponsored cycle ride by two of our trustees, Duncan Boak and Carl Philpott, raised a spectacular £3,978. The Monell Chemical Senses Center based in Philadelphia gave us a very generous donation of $3,000.

Funds raised in 2021/22

ds raised in 2021/22
National Lottery Community Fund Cadent Gas Boak & Philpott GSK Sanofi Medtronic Monell Center Other donations Total	£93,418 £39,275 £3,978 £2,500 £2,500 £2,500 £2,250 £7,114
	£153,535

We are very grateful to all our donors and supporters.

Our salary costs for the year accounted for 69% of our total expenditure – details are contained in note 8 to the accounts. Our running costs accounted for 7% of total costs. Full details of our expenditure can be found in note 6 to the accounts.

Our reserves remain robust with the following funds being held at the end of the financial year:

Restricted funds National Lottery Community Fund Firmenich Foundation GSK Sanofi Medtronic Designated funds Research Cadent Unrestricted funds General Total	£34,379 £4,676 £457 £457 £457 £1,253 £34,408 £43,562
	£119,649

Full details of fund movements can be found in note 13 to the accounts.

5

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

Structure, governance and management

The charity is constituted as a private company limited by guarantee without share capital with an exemption from the requirement to use 'Limited' in the company’s name.

The charity is governed by its Articles of Association which also define the objectives of the charity.

The board of trustees meets regularly every two months to review the performance of the charity including strategy, finance, operations, communications and fundraising.

The day to day management of the operations is entrusted to the Chief Executive and his staff, supported by a number of volunteers.

As a small charity, we do not have a formal process for the appointment of new trustees and rely on worthy candidates being brought to our attention by our network of contacts.

Reserves policy

Fifth Sense holds reserves against anticipated future expenditure, principally due to the uncertain nature of the charity’s future income streams.

The aim of the trustees is to hold reserves to enable the charity to operate for up to 6 months without income, so as to enable transitional arrangements to be put in place (should such arrangements be feasible) or to wind down the activities of the charity in a manner so as to cause the least disruption to our beneficiaries.

Each year, when reviewing the annual accounts, the trustees consider the appropriate level of reserves, taking into account the current and planned levels of expenditure.

If at any time reserves are less than 3 months of planned expenditure with no prospect of other sources of income, a board meeting will be convened to consider appropriate action.

The general reserves stood at £43,562 on 31 July 2022. This is equivalent to 5 months of our annual expenditure in 2021/22. As we have agreed funding in place from Cadent, the trustees consider the current level of reserves to be sufficient.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

6

Fifth Sense

Report of the trustees

For the year ended 31 July 2022

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• ▪ observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 16 March 2023 and signed on their behalf by

Robert Meadowcroft - Chair of Trustees

7

Independent examiner's report

To the trustees of

Fifth Sense

I report to the trustees on my examination of the accounts of Fifth Sense (the charitable company) for the year ended 31 July 2022, which are set out on pages 9 to 19.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Godfrey Wilson Limited also provides payroll services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

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 charitable company as required by section 386 of the 2006 Act; or

• (2) the accounts do not accord with those records; or

• (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Laura May Richards

Date: 16 March 2023 Laura Richards ACA Member of the ICAEW For and on behalf of:

Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

8

Fifth Sense

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 July 2022

Note Income from: Donations 3 Charitable activities 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure 6 7 Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) and net movement in funds	Restricted Unrestricted £ £ 100,918 11,316 - 41,301 100,918 52,617 - 5,389 89,404 9,352 89,404 14,741 11,514 37,876 28,912 41,347 40,426 79,223	2022 Total £ 112,234 41,301 153,535 5,389 98,756 104,145 49,390 70,259 119,649	2021 Total £ 77,309 -
			77,309
			- 79,664
			79,664
			(2,355) 72,614
			70,259

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the accounts.

9

Fifth Sense

Balance sheet

As at 31 July 2022

Note Current assets Debtors 10 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 11 Net current assets Net assets 12 Funds 13 Restricted funds Unrestricted funds: Designated funds General funds Total charity funds	£ 47,370 80,556 127,926 (8,277)	2022 £ 119,649 119,649 40,426 35,661 43,562 119,649	2021 £ 355 72,630
			72,985 (2,726)
			70,259
			70,259
			28,912 940 40,407
			70,259

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

• (i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and

• (ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 16 March 2023 and signed on their behalf by

Robert Meadowcroft - Chair of Trustees

Azim Karimjee - Treasurer

10

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Fifth Sense meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves and ongoing funding from Cadent until 30 June 2025. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income from contracts is recognised in line with the stage of completion.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

11

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

1. Accounting policies (continued)

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between the cost of raising funds and expenditure on charitable activities, based on the proportion of direct costs, as follows:

	2022	2021
Raising funds	5%	0%
Charitable activities	95%	100%

h) 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.

i) 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 or less from the date of acquisition or opening of the deposit or similar account.

j) Creditors

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 measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

k) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

l) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

12

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

2. Prior period comparatives: statement of financial activities

Income from: Donations Total income Expenditure on: Charitable activities Total expenditure Reconciliation of funds: Total funds brought forward Total funds carried forward 3. Income from donations Grant income: National Lottery Community Fund GlaxoSmithKline UK Medtronic Sanofi Individual donations and other fundraising Total income from donations Prior year comparative Grant income: National Lottery Community Fund Firmenich Charitable Trust Individual donations and other fundraising Total income from donations Net income / (expenditure) and net movement in funds	Restricted £ £ 68,181 9,128 68,181 9,128 77,360 2,304 77,360 2,304 (9,179) 6,824 38,091 34,523 28,912 41,347 Restricted £ £ 93,418 - 2,500 - 2,500 - 2,500 - - 11,316 100,918 11,316 Restricted £ £ 60,131 - 8,050 - - 9,128 68,181 9,128 Unrestricted Unrestricted Unrestricted	2021 Total £ 77,309
		77,309
		79,664
		79,664
		(2,355) 72,614
		70,259
		2022 Total £ 93,418 2,500 2,500 2,500 11,316
		112,234
		2021 Total £ 60,131 8,050 9,128
		77,309

13

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

4. Income from charitable activities

Conference income Contract income Total income from charitable activities	Restricted £ £ - 2,026 - 39,275 - 41,301 Unrestricted	2022 Total £ 2,026 39,275 41,301	2021 Total £ - -
			-

5. Government grants

The charitable company received a government grant, defined as funding from the National Lottery Community Fund to fund charitable activities. The total value of this grant in the period ending 31 July 2022 was £93,418 (2021: £60,131). There are no unfulfilled conditions or contingencies attaching to these grants in 2021/22.

6. Total expenditure

Fundraising expenses Activity costs Accountancy Priority Setting Partnership expenses Insurance Running costs Recruitment Staff costs (note 8) Web development Sub-total Allocation of support and governance costs Total expenditure	Raising funds £ 1,079 - - - - - - 3,571 - 4,650 739 5,389	Charitable activities £ £ - - 11,921 - - 1,726 4,550 - - 751 - 7,247 - 3,064 66,495 1,497 2,244 - 85,210 14,285 13,546 (14,285) 98,756 - Support and governance costs	2022 Total £ 1,079 11,921 1,726 4,550 751 7,247 3,064 71,563 2,244
			104,145 -
			104,145

Total governance costs were £1,726 (2021: £1,967).

14

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

6. Total expenditure (continued)

Prior period comparative Accountancy Priority Setting Partnership expenses Consultancy Insurance Running costs Staff costs (note 8) Travel expenses Web development Sub-total Allocation of support and governance costs Total expenditure Net movement in funds This is stated after charging:	Raising funds £ - - - - - - - - - - -	Charitable activities £ £ - 1,967 1,369 - 2,925 - - 808 - 6,503 63,217 - 571 - 2,304 - 70,386 9,278 9,278 (9,278) 79,664 - Support and governance costs	2021 Total £ 1,967 1,369 2,925 808 6,503 63,217 571 2,304
			79,664 -
			79,664

7. Net movement in funds

This is stated after charging:

Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration: Independent examination (excluding VAT) Other services (excluding VAT)	2022 £ Nil 1,112 1,500 162	2021 £ Nil 48 1,200 439

Payments for travel, subsistence and IT costs totalling £1,112 (2021: £48) were made to three trustees (2021: one trustee) during the year.

15

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages Social security costs Pension costs	2022 £ 65,776 1,475 4,312 71,563	2021 £ 58,076 648 4,493
		63,217

No employee earned more than £60,000 during the year or prior year.

The key management personnel of the charity comprise the trustees and chief executive. The total employee benefits of the key management personnel were £29,946 (2021: £Nil).

Average head count	2022 No. 2	2021 No. 2

9. Taxation

The charity has no corporation tax liability as all its income is charitable and is applied for charitable purposes.

10. Debtors

Trade debtors Accrued income Prepayments Creditors : amounts due within 1 year Accruals Taxation and social security VAT Other creditors	2022 £ 47,130 - 240 47,370 2022 £ 1,800 1,433 4,368 676 8,277	2021 £ - 115 240
		355
		2021 £ 1,740 886 - 100
		2,726

11. Creditors : amounts due within 1 year

16

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

12. Analysis of net assets between funds

Current assets Current liabilities Net assets at 31 July 2022 Prior period comparative Current assets Current liabilities Net assets at 31 July 2021	Restricted funds £ 42,226 (1,800) 40,426 Restricted funds £ 31,638 (2,726) 28,912	£ 40,029 (4,368) 35,661 £ 940 - 940 Designated funds Designated funds	General funds £ 45,671 (2,109) 43,562 General funds £ 40,407 - 40,407	Total funds £ 127,926 (8,277)
				119,649
				Total funds £ 72,985 (2,726)
				70,259

17

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

13. Movements in funds

Restricted funds National Lottery Community Fund Firmenich Charitable Trust GlaxoSmithKline Sanofi Medtronic Total restricted funds Designated funds: Research fund Cadent Gas Total designated funds General funds Total unrestricted funds Total funds Unrestricted funds	£ 20,862 8,050 - - - 28,912 940 - 940 40,407 41,347 70,259 At 1 August 2021	Income £ £ 93,418 (79,901) - (3,374) 2,500 (2,043) 2,500 (2,043) 2,500 (2,043) 100,918 (89,404) 313 - 39,275 (4,867) 39,588 (4,867) 13,029 (9,874) 52,617 (14,741) 153,535 (104,145) Expenditure	£ - - - - - - - - - - - Transfers between funds	£ 34,379 4,676 457 457 457 At 31 July 2022
				40,426
				1,253 34,408
				35,661
				43,562
				79,223
				119,649

Purposes of restricted funds

National Lottery Community Fund

This fund will be used to deliver the outcomes and activities detailed in our 3 year development plan, as presented to and approved by the NLCF when awarding us this funding and in subsequent reviews.

Firmenich Charitable Trust

This fund will be used to develop smell training kits.

GlaxoSmithKline

This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021.

Sanofi

This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021.

Medtronic

This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021.

18

Fifth Sense

Notes to the financial statements

For the year ended 31 July 2022

13. Movements in funds (continued) Purposes of designated funds

Research fund

This fund will be used to support research projects which seek to identify the needs and potential quality of life improvements of people with smell and taste disorders.

Cadent Gas

This fund will be used to deliver the outcomes and activities detailed in the Cadent Service Agreement Contract, as amended by agreement with Cadent in reviews.

Prior period comparative Restricted funds National Lottery Community Fund Firmenich Charitable Trust Total restricted funds Designated funds: Research fund Total designated funds General funds Total unrestricted funds Total funds Unrestricted funds	At 1 August 2020 £ 38,091 - 38,091 940 940 33,583 34,523 72,614	Income £ £ 60,131 (77,360) 8,050 - 68,181 (77,360) - - - - 9,128 (2,304) 9,128 (2,304) 77,309 (79,664) Expenditure	Transfers between funds £ - - - - - - -	At 31 July 2021 £ 20,862 8,050
				28,912
				940
				940
				40,407
				41,347
				70,259

14. Related party transactions

There were no related party transactions during the current or prior year.

19