Company no. 10255303 Charity no. 1175553
## **Fifth Sense**
# **Report and Unaudited Financial Statements 31 July 2023**
## **Fifth Sense**
## **Reference and administrative details**
|**For theyear ended 31 July **|**2023**||
|---|---|---|
|**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:||
||Deborah Davies|appointed 16 March 2023|
||Azim Karimjee||
||Esther Kirby|resigned 10 August 2023|
||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 2023**
The trustees present their report along with the financial statements of the charity for the year ended 31 July 2023.
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**
Highlights from the year include:
## Service Delivery
## **Cadent partnership project**
October 2022 saw the launch of the Cadent project. Fifth Sense is being funded by Cadent, the UK’s largest Gas Distribution Network, to raise awareness of the importance of the sense of smell to our health, wellbeing and safety and enable people affected by a poor, altered or no sense of smell or taste to stay safe and well at home. The funding is supporting the delivery of our Support and Information Service and Engagement and Education Programme.
This is a significant, ‘world-first’, project. The funding is being provided to Cadent by OfGem to help them safeguard vulnerable customers.
The core message for this work is smell safety. If someone is living with a poor, altered or no sense of smell they will be unable to smell gas or smoke or even spoiled food. To ensure that the message is consistent we have a script that ensures we are talking about staying safe and how our beneficiaries can utilise services like the priority services register (PSR).
2
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
## **Support and Information Service**
People can receive 1-2-1 support and information via email, telephone and virtual calls, and group support through our #LetsTalkSmellAndTaste support and information sessions. We have undertaken at least six events over the past year on acquired and congenital anosmia and parosmia and held one parents group for parents of children with smell and taste disorders.
## **Engagement and Education Programme**
We have developed an education/training package for professional audiences, including health and social care practitioners. This has been delivered in sessions to over 30 NHS Post-Covid Services during the reporting period. The education sessions last about an hour, and we cover a wide area of smell and taste dysfunction. We are also delivering the smell safety education to all those whom we train, and sending them leaflets and other information resources so these can be passed on to patients.
NHS Services we have trained include:
- South Warwickshire NHS Trust
- Birmingham Community Care NHS Trust
- Norfolk Community Care NHS Trust
- Cheshire
- Sheffield Teaching Hospital
- Central London Community NHS Healthcare Trust
Participants have given very positive feedback on the sessions.
_“I knew almost nothing on the topic before Sarah's session. It was a fantastic introduction - I made lots of notes!”_
_“Intro to website gave me a much wider understanding of impact of smell and taste disorders”._
_“Info on safety, the leaflets will be helpful. Knowing what resources to signpost people to and to give people hope that their smell can return”._
_“Really well delivered, lots of learning for me, as a doctor. Great resources for our patients.”_
We have also engaged with other professional groups including the following:
- **Webinar for Metropolitan Police:** In January 2023 we delivered a webinar to the Metropolitan Police. The session was recorded and included a large section on smell safety. The recording is passed to other forces across the country;
- **Chartered Society of Physiotherapists and The Royal College of Occupational Therapists:** Smell and Taste Rehabilitation education session. On this occasion the team included one of our members who is a student occupational therapist talking about the impact of smell and taste dysfunction on health, wellbeing and safety;
- **BACO Conference:** The Fifth Sense team attended the three-day major ENT conference held in Birmingham during February and the team interacted with ENT professionals. Team members spoke about smell safety and safety education as well as handing out smell safety leaflets;
- **University of East Anglia and Fifth Sense Smell and Taste Disorders Symposium:** The second symposium, following the success of the inaugural event in 2022, was held in May 2023 at the University of East Anglia in Norwich. The symposium is aimed at clinicians and researchers interested in smell and chemosensory disorders. This was also a chance for Fifth Sense beneficiaries to participate in a forum session; and
3
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
- **British Rhinological Society:** In May, the British Rhinological Society held its annual event and Fifth Sense was invited to have a stand. This meeting was created to promote education and research in all aspects of rhinology - the study of the nose and sinuses and related areas, including facial plastics.
## Public engagement
- **Natural History Museum:** In May, Fifth Sense was invited to share a stand with the British Society of Perfumers at one of the Natural History Museum’s evening events, the theme of this one being the senses. The evening was a huge success and we spoke with a diverse audience of over one hundred people that evening.
- **Barnes Fragrance Fair:** Fifth Sense was proud to be the nominated charity for the inaugural Barnes Fragrance Fair. The Fifth Sense team ran some engaging smell-based activities on the day to highlight the different ways that smell plays such a vital role in our lives and shared information and resources to help those experiencing problems with their senses of smell and taste.
## Other Engagement Activity
- We supported the second annual World Smell and Taste Day on 14 September 2022;
- Our CEO participated in the EUFOREA Global Chronic Rhinosinusitis with Nasal Polyps awareness day event in Brussels, April 2023;
- We participated in the WeAreAble campaign to change the conversation around vulnerability and empower more people to live safe, independent lives at home. We supported campaign publicity activities and some of our beneficiaries’ stories are featured on the campaign website;
- We held a patient information day in Cheltenham in November 2022 in partnership with Gloucestershire Hospitals NHS Trust to help promote the launch of the new Smell Disorders and Allergies Clinic at Royal Gloucester Hospital clinic;
- We held our inaugural volunteer forum in December 2022 to highlight the achievements of our volunteers and encourage more people to get involved in volunteering with Fifth Sense;
- Our CEO gave a talk at a webinar on 28 February 2023 hosted by the International Fragrance Association to promote Anosmia Awareness Day; and
- We have continued to grow our reach and engagement via social media and focused communications activities.
4
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
## Research
We have been involved in a range of research collaborations and projects, including:
- Worked closely with Prof Marianna Obrist and her team at University College London on the initial stages of the SmellCare project, to trial a novel digital smell training prototype in people’s homes. The prototype delivers scent stimuli to help users train their noses;
- Designed and launched a survey to capture the safety concerns of people affected by smell disorders, along with details of gas and food-related safety incidents they have been exposed to at home and work. The charity team collaborated with researchers at the University of East Anglia to produce a paper based on the findings;
- Undertook a survey-based research study in partnership with the University of East Anglia: _Understanding the Impact of Chronic Rhinosinusitis with Nasal Polyposis on Smell and Taste: An International Patient Experience Survey_ , which Fifth Sense members participated in;
- Started collaborating with researchers at Edinburgh Napier University, led by Duncan Carmichael, on a number of projects, including a smell training study undertaken by PhD student Laura Speed;
- Supported recruitment to the second phase of a project led by researchers at Oxford Brookes University exploring the mental health impact of post-Covid smell and taste dysfunction;
- Continued to provide Patient and Public Involvement (PPI) input to the Apollo Trial, exploring whether Vitamin A could help people regain their sense of smell after viral infections including Covid-19; and
- Continued to provide PPI input and assisted with recruitment to the NIHR-funded MACRO programme into the effectiveness of treatments for chronic rhinosinusitis.
## Lobbying and campaigning
- Our CEO Duncan Boak met MP Victoria Prentis at an Acquired Brain Injury Strategy Reception at the Jubilee Room in Parliament on 10th May 2023. Fifth Sense’s registered office is in Victoria’s constituency. Duncan spoke with Victoria about the lasting impact that smell loss has, and how it needs greater recognition, whatever the cause; and
- Our CEO subsequently wrote a briefing paper highlighting the lack of education and training for healthcare professionals on smell and taste disorders, calling for support from the Department of Health and Social Care with this issue. Victoria Prentis sent this to DHSC on our behalf, who referred us to NHS England.
## Fundraising
- The charity’s first public-facing fundraiser, a wine tasting event organised and delivered by Fifth Sense Ambassador Rebecca Mitchell, was held in Exeter on 27 April 2023. Those who attended told us that the event gave them a powerful insight into the different ways that smell and taste disorders impact people’s lives. The event raised £1,042; and
- The British Society of Perfumers, Society of Cosmetic Chemists and British Society of Flavours held their inaugural ‘Bringing the Senses Together’ event at the Royal Society of Chemistry on 8 February 2023. The proceeds of the event, totalling £646, were donated to Fifth Sense.
5
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
## **Financial review**
Our financial position on 31 July 2023 remains strong, thanks to the continued funding from Cadent Gas Limited, for which we are truly grateful.
In addition, we received a grant of £3,000 from Sanofi to support our very successful Volunteer Forum in Birmingham in December 2022.
## Funds raised in 2022/23
|ds raised in 2022/23||
|---|---|
|Cadent Gas
National Lottery Community Fund
Sanofi
Wine-tasting event
Bringing the Senses Together event
British Society of Perfumers
Other donations
Interest income
**Total**|£157,100
£18,213
£3,000
£1,042
£646
£500
£9,008
£196|
||**£189,705**|
We are very grateful to all our donors and supporters.
Our salary costs for the year accounted for 82% of our total expenditure – details are contained in note 8 to the accounts. Our running costs accounted for 5% 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 21
Medtronic
Sanofi 22
Designated funds
Research
Cadent
Unrestricted funds
General
**Total**|£0
£4,676
£457
£457
£457
£1,813
£1,253
£80,681
£47,061|
|---|---|
||**£136,855**|
Full details of fund movements can be found in note 14 to the accounts.
## **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.
6
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
The day-to-day management of operations is entrusted to the Chief Executive Officer. The staff are either home-based or work at the principal office of the charity.
As a small charity, we identify potential trustees with the necessary skills, experience and expertise through a number of routes. Newly appointed trustees undertake a tailored induction programme to help them understand the impact of anosmia and related conditions and the current strategy and operational plans of Fifth Sense.
## **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 £47,061 on 31 July 2023. As we have agreed funding in place from Cadent, the trustees consider the current level of reserves to be satisfactory.
## **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).
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.
7
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2023**
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 21 March 2024 and signed on their behalf by
## Azim Karimjee
Azim Karimjee - Trustee
8
## **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 2023, which are set out on pages 10 to 22.
## **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.
Date: 21 March 2024 **Rob Wilson FCA 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
9
## **Fifth Sense**
**Statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 July 2023**
|Note
**Income from:**
Donations
3
Charitable activities
4
Income from other trading activities
Investment income
**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
£
£
21,213
10,155
-
157,100
-
1,042
-
196
21,213
168,493
-
30,190
53,779
88,531
53,779
118,721
(32,566)
49,772
40,426
79,223
7,860
128,995|**2023**
**Total**
**£**
**31,368**
**157,100**
**1,042**
**196**
**189,706**
**30,190**
**142,310**
**172,500**
**17,206**
**119,649**
**136,855**|2022
Total
£
112,234
41,301
-
-|
|---|---|---|---|
||||153,535|
||||5,389
98,756|
||||104,145|
||||49,390
70,259|
||||119,649|
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 14 to the accounts.
10
## **Fifth Sense**
## **Balance sheet**
## **As at 31 July 2023**
|Note
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
12
**Net current assets**
**Net assets**
13
**Funds**
14
Restricted funds
Unrestricted funds:
Designated funds
General funds
**Total charity funds**|**£**
**47,210**
**105,352**
**152,562**
**(18,404)**|**2023**
**£**
**2,697**
**134,158**
**136,855**
**7,860**
**81,934**
**47,061**
**136,855**|2022
£
-|
|---|---|---|---|
||||47,370
80,556|
||||127,926
(8,277)|
||||119,649|
||||119,649|
||||40,426
35,661
43,562|
||||119,649|
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 21 March 2024 and signed on their behalf by
## Azim Karimjee
Azim Karimjee - Treasurer
11
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **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.
12
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **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:
||**2023**|2022|
|---|---|---|
|Raising funds|**18%**|5%|
|Charitable activities|**82%**|95%|
## **h) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Computer equipment 3 years
Items of equipment are capitalised where the purchase price exceeds £500.
## **i) 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.
## **j) 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.
## **k) 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.
## **l) 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.
13
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **1. Accounting policies (continued)**
## **m) 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.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1)h) above.
## **2. Prior period comparatives: statement of financial activities**
|**Income from:**
Donations
Charitable activities
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income and net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Restricted
£
£
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
Unrestricted|**2022**
**Total**
**£**
**112,234**
**41,301**|
|---|---|---|
|||**153,535**|
|||**5,389**
**98,756**|
|||**104,145**|
|||**49,390**
**70,259**|
|||**119,649**|
14
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **3. Income from donations**
|Grant income:
National Lottery Community Fund
Sanofi
Individual donations and other fundraising:
British Society of Perfumers
Other
**Total income from donations**
**Prior year comparative**
Grant income:
National Lottery Community Fund
GlaxoSmithKline UK
Medtronic
Sanofi
Individual donations and other fundraising
**Total income from donations**
**Income from charitable activities**
Conference income
Contract income
**Total income from charitable activities**|Restricted
£
£
18,213
-
3,000
-
-
500
-
9,655
21,213
10,155
Restricted
£
£
93,418
-
2,500
-
2,500
-
2,500
-
-
11,316
100,918
11,316
**2023**
Restricted
**Total**
£
£
**£**
-
-
**-**
-
157,100
**157,100**
-
157,100
**157,100**
Unrestricted
Unrestricted
Unrestricted|**2023**
**Total**
**£**
**18,213**
**3,000**
**500**
**9,655**|
|---|---|---|
|||**31,368**|
|||2022
Total
£
93,418
2,500
2,500
2,500
11,316|
|||112,234|
|||2022
Total
£
2,026
39,275|
|||41,301|
## **4. Income from charitable activities**
All income from charitable activities in the prior year was unrestricted.
## **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 2023 was £18,213 (2022: £93,418). There are no unfulfilled conditions or contingencies attaching to these grants in 2022/23.
15
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **6. Total expenditure**
|Raising
funds
£
Fundraising expenses
7,554
Activity costs
-
Accountancy
-
Insurance
-
Running costs
-
Recruitment
-
Staff costs (note 8)
18,526
Travel expenses
-
Other staff costs
-
**Sub-total**
26,080
Allocation of support and governance costs
4,110
**Total expenditure**
**30,190**
Total governance costs were £2,742 (2022: £1,726).
**Prior period comparative**
Raising
funds
£
Fundraising expenses
1,079
Activity costs
-
Accountancy
-
Priority Setting Partnership expenses
-
Insurance
-
Running costs
-
Recruitment
-
Staff costs (note 8)
3,571
Web development
-
**Sub-total**
4,650
Allocation of support and governance costs
739
**Total expenditure**
5,389|Charitable
activities
£
£
-
-
9,686
-
-
2,742
-
1,032
-
9,329
-
150
113,254
9,263
-
570
-
394
122,940
23,480
19,370
(23,480)
**142,310**
**-**
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
Support and
governance
costs|**2023**
**Total**
**£**
**7,554**
**9,686**
**2,742**
**1,032**
**9,329**
**150**
**141,043**
**570**
**394**|
|---|---|---|
|||**172,500**
-|
|||**172,500**|
|||2022 Total
£
1,079
11,921
1,726
4,550
751
7,247
3,064
71,563
2,244|
|||104,145
-|
|||104,145|
16
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
**7. Net movement in funds** This is stated after charging:
This is stated after charging:
|Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
Independent examination (excluding VAT)
Other services (excluding VAT)|**2023**
**£**
**Nil**
**77**
**1,925**
**512**|2022
£
Nil
1,112
1,750
462|
|---|---|---|
Payments for travel and subsistence (2022: travel, subsistence and IT costs) totalling £77 (2022: £1,112) were made to one trustee (2022: three trustees) during the year.
**8. Staff costs and numbers** Staff costs were as follows:
|Salaries and wages
Social security costs
Pension costs|**2023**
**£**
**126,765**
**6,648**
**7,630**
**141,043**|2022
£
65,776
1,475
4,312|
|---|---|---|
|||71,563|
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 £74,224 (2022: £29,946).
|Average head count|**2023**
**No.**
**3**|2022
No.
2|
|---|---|---|
## **9. Taxation**
The charity has no corporation tax liability as all its income is charitable and is applied for charitable purposes.
17
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
|**10. Tangible fixed assets**
**Cost**
At 1 August 2022
Additions in year
At 31 July 2023
**Depreciation**
At 1 August 2022
Charge for the year
At 31 July 2023
**Net book value**
**At 31 July 2023**
At 31 July 2022|£
-
2,697
2,697
-
-
-
2,697
-
Computer
equipment|**Total**
**£**
**-**
**2,697**|
|---|---|---|
|||**2,697**|
|||**-**
**-**|
|||**-**|
|||**2,697**|
|||-|
No depreciation has been charged in 2023, as these assets were purchased just before the year end.
## **11. Debtors**
|**11. Debtors**|||
|---|---|---|
|Trade debtors
Prepayments
Other debtors
**12. Creditors: amounts due within 1 year**
Trade creditors
Accruals
Taxation and social security
VAT
Other creditors|**2023**
**£**
**47,130**
**-**
**80**
**47,210**
**2023**
**£**
**3,374**
**4,248**
**3,494**
**6,524**
**764**
**18,404**|2022
£
47,130
240
-|
|||47,370|
|||2022
£
-
1,800
1,433
4,368
676|
|||8,277|
18
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
|**13. Analysis of net assets between funds**
Restricted
funds
£
Tangible fixed assets
-
Current assets
9,610
Current liabilities
(1,750)
**Net assets at 31 July 2023**
**7,860**
**Prior period comparative**
Restricted
funds
£
Current assets
42,226
Current liabilities
(1,800)
**Net assets at 31 July 2022**
40,426|£
-
98,364
(16,430)
**81,934**
£
40,029
(4,368)
35,661
Designated
funds
Designated
funds|General
funds
£
2,697
44,588
(224)
**47,061**
General
funds
£
45,671
(2,109)
43,562|**Total**
**funds**
**£**
**2,697**
**152,562**
**(18,404)**|
|---|---|---|---|
||||**136,855**|
||||Total
funds
£
127,926
(8,277)|
||||119,649|
19
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **14. Movements in funds**
|**Restricted funds**
National Lottery Community
Fund
Firmenich Charitable Trust
GlaxoSmithKline
Sanofi 21
Medtronic
Sanofi 22
**Total restricted funds**
_Designated funds:_
Research fund
Cadent Gas
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**|£
34,379
4,676
457
457
457
-
40,426
1,253
34,408
35,661
43,562
79,223
119,649
At 1
August
2022|Income
£
£
18,213
(52,592)
-
-
-
-
-
-
-
-
3,000
(1,187)
21,213
(53,779)
-
-
157,100
(110,827)
157,100
(110,827)
11,393
(7,894)
168,493
(118,721)
189,706
(172,500)
Expenditure|£
-
-
-
-
-
-
-
-
-
-
-
-
Transfers
between
funds|**£**
**-**
**4,676**
**457**
**457**
**457**
**1,813**
**At 31**
**July 2023**|
|---|---|---|---|---|
|||||**7,860**|
|||||**1,253**
**80,681**|
|||||**81,934**|
|||||**47,061**|
|||||**128,995**|
|||||**136,855**|
**Purposes of restricted funds** National Lottery Community Fund
This fund has been 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. This project has now been completed.
Firmenich Charitable Trust
This fund is being used to develop and test smell training aids.
GlaxoSmithKline
This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021. Permission has now been received to apply the remaining funds to the FS National Conference 2023.
Sanofi 21
This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021. Permission has now been received to apply the remaining funds to the FS National Conference 2023.
20
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **14. Movements in funds (continued)**
Medtronic
This fund was provided, and has been used, to support the Fifth Sense National Conference held in Nov 2021. Permission has now been received to apply the remaining funds to the FS National Conference 2023.
Sanofi 22
This fund was provided, and has been used, to support the Fifth Sense Volunteer Training event held in Dec 2022. Permission has now been received to apply the remaining funds to the FS National Conference 2023 if needed or to other volunteer related activities.
## **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
GlaxoSmithKline
Sanofi 21
Medtronic
**Total restricted funds**
_Designated funds:_
Research fund
Cadent Gas
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**|At 1
August
2021
£
20,862
8,050
-
-
-
28,912
940
-
940
40,407
41,347
70,259|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
£
-
-
-
-
-
-
-
-
-
-
-
-|At 31 July
2022
£
34,379
4,676
457
457
457|
|---|---|---|---|---|
|||||40,426|
|||||1,253
34,408|
|||||35,661|
|||||43,562|
|||||79,223|
|||||119,649|
21
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2023**
## **15. Related party transactions**
During the year, the charity received total donations without conditions from related parties of £900 (2022: £438). There were no amounts outstanding at year end (2022: none).
22