Company no. 10255303 Charity no. 1175553
## **Fifth Sense**
# **Report and Unaudited Financial Statements 31 July 2024**
## **Fifth Sense**
## **Reference and administrative details**
**For the year ended 31 July 2024 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 Azim Karimjee Esther Kirby resigned 10 August 2023 Robert Meadowcroft resigned 31 January 2025 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 2024**
The trustees present their report along with the financial statements of the charity for the year ended 31 July 2024.
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**
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
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 2024**
## **Support and information service**
This service enables people to receive 1-2-1 support and information via email, telephone and virtual calls, plus group support through our #LetsTalkSmellAndTaste support and information sessions. Over the past year we have increased the support we have given people by introducing an information session for both new members and existing members who wish to join. We have undertaken 6 of these new sessions.
Our #LetsTalkSmellandTaste, virtual events continue to be very popular. Over the last year we have undertaken six of these events and continue to ensure that we have undertaken specific events for those with congenital anosmia, acquired anosmia and parosmia.
We have also introduced a new educational programme for members/patients and healthcare professionals. The sessions reflect the various causes of smell and taste disorders and have included a session on Chronic Rhinosinusitis with Nasal Polyps (CRSwNP) and a session on Smell and Taste Changes, for example, following a virus. The sessions began with hearing the experience of someone with the lived experience followed by an ENT Consultant who is a smell and taste specialist.
## **Engagement and education programme**
We have designed what we believe to be the world’s first e-learning module on smell and taste disorders for a corporate organisation – Cadent, the UK’s largest gas distribution network, with whom we are working in partnership. This groundbreaking initiative enables Cadent employees, including their engineers who carry out safety visits to people’s homes, to understand the impact of smell and taste disorders on their customers and provide them with information about where they can get further support, i.e. Fifth Sense.
The past year has seen a big increase in our reach through the engagement and education programme. We have continued to work with the Long-Covid teams within the NHS and we have now delivered to over 40 teams, including:
- Mid-Yorkshire;
- Pennines; and
- East of England Team.
We are also delivering sessions to other organisations, both those linked to the NHS including some of the Healthwatch organisations, as well as to third sector organisations working with people who may have smell and taste disorders. These can include symptoms of another health issue such as a neurodegenerative diseases like dementia or Parkinsons. Organisations to which we have delivered include the following:
- ▪Healthwatch: East of England, Essex and Lancashire;
- ▪Dementia Services – Derbyshire NHS;
- ▪MIND – Community Development Team;
- ▪Alzheimer’s Society – Solihull, Birmingham and the Black Country;
- ▪Alzheimer’s Society - Norfolk;
- ▪Marie Curie – Birmingham;
- ▪The Almshouse Association;
- ▪Sussex Acquired Brain Injury Forum;
- ▪Mencap – Birmingham; and
- ▪London Clinical Research Network.
Participants have given very positive feedback on the sessions.
3
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
_“A big thank you to Helen from Fifth Sense for a really insightful talk on how stroke can affect smell and taste. Lots of useful information and resources, which will help us to support and advise our patients.”_
_“That was really useful and has highlighted that this is an area we don't talk to our patients about but we should as it is a hidden disability and can have a big impact on someone's life.”_
_“I have just been talking to a carer who has said her dad keeps eating food that’s gone out of date, I didn't know why but it makes sense now.”_
_“On triage calls we ask about eyesight and hearing but have never considered questions around smell, I cannot believe we have never thought about this. They talked in the meeting about changing triage to include this.”_
_“I think everyone in an information & guidance, or engagement role at Healthwatch should receive your training, and know about you.”_
_“We regularly work with people with other kinds of sense disorders/loss, so it is important for us to be aware of this too. Perhaps regular training every few years.”_
We have also engaged with other professional groups including the following:
- **Head First Webinar:** In October 2023 we delivered a webinar to the Head First Organisation. Head First work with people who have newly acquired brain injuries. The session was recorded and included a large section on smell safety;
- **Derbyshire Fire and Rescue:** This engagement and education session was for the whole of the Derbyshire teams and was an introduction to smell and taste disorders and the impact on safety;
- **University of East Anglia and Fifth Sense Smell and Taste Disorders Symposium:** This was the third such symposium and was held in May 2024 at the University of East Anglia in Norwich. The symposium is aimed at clinicians and researchers interested in smell and chemosensory disorders. Fifth Sense members with a smell and taste disorder took part by describing their journey and use of the health service. This is a chance for Fifth Sense beneficiaries to participate in a forum session;
- **British Rhinological Society:** In May, the British Rhinological Society held its annual event at which Fifth Sense again had 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; and
- **The Swallows International Conference:** Fifth Sense was an invited speaker presenting at this conference and the session concentrated on both health and wellbeing as well as safety.
## Public engagement
## **RHS show Hampton Court Palace.**
We were delighted to collaborate with garden designers Flora Scouarnec and Victoria Pease-Cox who designed a garden for this year's RHS Hampton Court Palace Garden Festival. The garden was called 'The Making Sense Garden' and has a sensory theme and has been designed with smell and taste disorders in mind.
In a garden, fragrance often takes centre stage, but what if your sense of smell is compromised? The garden invited visitors to explore, experience and enjoy, using all the senses but particularly sight, sound and touch.
4
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
Fifth Sense had a presence throughout Hampton Court Garden Festival, where we ran a range of activities to help people learn more about the sense of smell and information on smell and taste disorders.
## **Fifth Sense national conference**
This was a successful conference, with members attending from various parts of the country. We had speakers with the lived experience talking as well as those who have specialised in working with smell and taste disorders as well as those undertaking research in this area.
## **National Lottery Community Fund – social action programme**
Fifth Sense were awarded grant funding from the NLCF to support the delivery of the Fifth Sense Social Action Programme.
This project will develop and establish Smell Taste Action Groups (STAGs) across England – these will be made up of Fifth Sense members as well as being augmented by smell and taste experts, such as perfumers.
Key to this work stream will be the delivery of the following:
- ▪Peer Support; and
- ▪Education and outreach.
Members of the groups, either individually or as a group will go out into their local communities to increase awareness of smell and taste disorders (SATDs). They can do this in various ways including delivery of leaflets to health centres, community pharmacies and libraries as well as giving talks to local groups such as the WI and GPs.
There will be an annual volunteer forum which will see that the active volunteers from the local STAG get together in person to learn from each other’s experiences, what worked well and what didn’t work as well and to celebrate their work together.
The Community Development Officer who started in post in April 2024 has undertaken the following:
- Written a training package for all volunteers both new and existing. The training includes how to undertake engagement sessions within their local community and how to facilitate groups;
- Written a handbook for all volunteers;
- ▪Recruited 30 new volunteers;
- ▪Undertaken the training of all volunteers; and
- Started the journey of new STAG’s. The areas that we now have the beginnings of groups are Birmingham, East Grinstead, Southend, Mansfield, Manchester.
Evaluation feedback from the Birmingham group stated that 91% said that the meetups have been very useful.
## Quotes:
_‘I thought the event was extremely useful and I would like to say a big thank you to the event organisers and all who attending the session. It is really good to know that you are not alone in with your lived experiences and there are people and organisers who really understand and care_ .’
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## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
Other Engagement Activity
- We supported Anosmia Awareness Day in Feb 2024. The feedback from our social media campaign demonstrated how successful the campaign had been;
- Our CEO made a virtual presentation to the International Symposium on Olfaction and Taste (ISOT) 2024 in Iceland;
- Our CEO spoke at the Towards Universal Chemosensory Testing conference in Philadelphia, highlighting the work that Fifth Sense is doing to promote the need for more widespread smell and taste testing; and
- Our Director of Services & Operations holds the position of Vice-Chair of the Public Advisory Group of the Nursing and Midwifery Council. The role of the group is to provide advice related to the training of over 100,000 nurses and midwives.
## Research
We have been involved in a range of research collaborations and projects, including:
- **Smell Care, University College London** From the beginning of this project, we have supported Professor Marianna Obrist and her team with recruitment to the London leg of the Smell Care Study which began in June 2023 as well as the Norwich leg starting October 2023. We have kept members informed about the digital smell training feasibility study in which participants were asked to trial an innovative digital smell training prototype in their homes. Fifth Sense staff and volunteers attended regular meetings and events;
- **Apollo Vitamin A Clinical Trial PVOD, Prof Carl Philpott, University of East Anglia** Fifth Sense has supported the recruitment to this study into whether Vitamin A could help people regain their sense of smell after viral infections including Covid-19;
- **MACRO Trial, Prof Carl Philpott, University of East Anglia** We have continued to support the recruitment of adults with Chronic Rhinosinusitis across England and Scotland. The aim of this trial is to define best practice for CRS management in adults across primary and secondary care;
- **Barriers to treatment for smell and taste disorders in Scotland, Edinburgh Napier University**
- Fifth Sense has supported researchers, Ethan Shapiro and Duncan Carmichael, from the School of Applied Sciences at Edinburgh Napier University who were seeking to interview people in Scotland about their experiences of seeking treatment for smell and taste disorders;
- **Why people from minority communities are less likely to seek help with smell and taste disorders. Fifth Sense and UEA study**
- Fifth Sense and the University of East Anglia successfully applied for funding from Norfolk and Waveney Integrated Care Board to undertake this study; and
- **Developing a multisensory smell retraining programme Edinburgh Napier University** We supported PhD student Emily Spencer, from the School of Applied Sciences, who is investigating the ways in which the olfactory senses can be retrained following a loss of the sense of smell.
## Recruitment for research studies
Fifth Sense has supported several research studies through recruitment including:
- PARosmia’: Participatory Action Research (PAR)World Café for Parosmia, Staffordshire University;
- ▪Canada Smell Loss study, University of Victoria;
- ▪Shop-Bought Foods for those with Sensory Impairment. University of Portsmouth;
- ▪Social eating impact survey, Fifth Sense and UEA; and
- Olfactory Implants Survey - What about Olfactory Implants? Fifth Sense and the International Working Group.
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## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
## Lobbying and campaigning
- The CEO and Chair of Trustees met with Lord Allan of Hallam at the Houses of Parliament to discuss the under-recognised impact of smell loss; and
-
Fifth Sense has established a strategic partnership with ENTUK focused on improving care for people affected by smell and taste disorders. The two organisations will also work to improve education on smell and taste disorders for ENT professionals and trainees and encourage ENT UK members to initiate new research projects that respond to the priorities established through the Fifth Sense Smell and Taste Disorders Priority Setting Partnership. Another important goal will be to encourage more ENT clinics in the UK to offer routine smell testing as part of consultations.
## Fundraising
In addition to the funding received from Cadent Gas Limited and the National Lottery Community Fund, we also received funding from the following sources:
- Funding of £6,823 from the University of East Anglia for FS participation in a study of why minority communities are less likely to seek help with smell and taste disorders;
- A donation of £5,000 from FlavorActiv Limited;
- Sponsorship of £1,500 for the Fifth Sense National Conference from Rhino Therapuetics Limited;
- Our first ever Christmas fundraising appeal which successfully raised £2,670 in total; and
- ▪ We also undertook a second public-facing ‘Sensory Wine Tasting’ event in July alongside the RHS Show at Hampton Court. The event, which was by invitation only, was led by Fifth Sense Ambassador Rebecca Mitchell and raised £1,000 for Fifth Sense. All those who took part found it both enjoyable and interesting. Many of those at the event had never really given thought to their sense of smell.
## Staffing
As indicated above, we appointed a Community Development Officer to implement the Social Action Programme for which funding has been provided by the National Lottery Community Fund, taking our staff complement to 5 employees. We are delighted to have such a dedicated team who have delivered all the achievements laid out above under the guidance of our CEO.
## **Financial review**
Our financial position on 31 July 2024 remains strong, thanks to the funding from Cadent Gas Limited and the National Lottery Community Fund, for which we are truly grateful.
## Funds raised in 2023/24
|Cadent Gas
National Lottery Community Fund
University of East Anglia
FlavorActiv
Rhino Therapeutics
Wine-tasting event
Chiristmas appeal
Other income
**Total**|£157,100
£35,569
£6,823
£5,000
£1,500
£1,000
£2,670
£9,821|
|---|---|
||**£219,483**|
We are very grateful to all our donors and supporters.
7
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
Our staff team deliver the bulk of the charity’s work, with salary costs for the year accounting for 81% of our total expenditure – details are contained in note 8 to the Accounts. We are determined to ensure that Fifth Sense is an efficient and well-run charity, and our running costs accounted for just 4% 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
Sanofi 22
Designated funds
Research
Cadent
Unrestricted funds
General
**Total**|£15,878
£4,676
£1,271
£1,920
£48,190
£52,791|
|---|---|
||**£124,726**|
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.
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 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.
8
## **Fifth Sense**
## **Report of the trustees**
## **For the year ended 31 July 2024**
The general reserves stood at £52,791 on 31 July 2024. As we have agreed funding in place from Cadent and the NLCF, 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.
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 20 March 2025 and signed on their behalf by
## Azim Karimjee
Azim Karimjee - Trustee
9
## **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 2024, which are set out on pages 11 to 23.
## **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: 20 March 2025 **Robert 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
10
## **Fifth Sense**
**Statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 July 2024**
|Note
**Income from:**
Donations
3
Charitable activities
4
Income from other trading activities
Income from other revenue
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
£
£
42,392
15,818
-
158,877
-
1,000
-
1,193
-
203
42,392
177,091
-
42,036
28,427
161,149
28,427
203,185
13,965
(26,094)
7,860
128,995
21,825
102,901|**2024**
**Total**
**£**
**58,210**
**158,877**
**1,000**
**1,193**
**203**
**219,483**
**42,036**
**189,576**
**231,612**
**(12,129)**
**136,855**
**124,726**|2023
Total
£
31,368
157,100
1,042
-
196|
|---|---|---|---|
||||189,706|
||||30,190
142,310|
||||172,500|
||||17,206
119,649|
||||136,855|
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.
11
## **Fifth Sense**
## **Balance sheet**
## **As at 31 July 2024**
|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**|**£**
**47,530**
**95,028**
**142,558**
**(20,334)**|**2024**
**£**
**2,502**
**122,224**
**124,726**
**21,825**
**50,110**
**52,791**
**124,726**|2023
£
2,697|
|---|---|---|---|
||||47,210
105,352|
||||152,562
(18,404)|
||||134,158|
||||136,855|
||||7,860
81,934
47,061|
||||136,855|
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 20 March 2025 and signed on their behalf by
## Azim Karimjee
Azim Karimjee - Treasurer
12
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **1. Accounting policies**
## **a) General information and basis of preparation**
Fifth Sense is a charitable company limited by guarantee registered in England and Wales. The registered office address is Unit 2, Franklins House, Wesley Lane, Bicester, OX26 6JU.
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.
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## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **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:
||**2024**|2023|
|---|---|---|
|Raising funds|**18%**|18%|
|Charitable activities|**82%**|82%|
## **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.
14
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **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
Income from other trading activities
Investment income
**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
£
£
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
Unrestricted|2023
Total
£
31,368
157,100
1,042
196|
|---|---|---|
|||189,706|
|||30,190
142,310|
|||172,500|
|||17,206
119,649|
|||136,855|
15
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **3. Income from donations**
|Grant income:
National Lottery Community Fund
University of East Anglia
Individual donations and other fundraising:
FlavourActiv
Other
**Total income from donations**
**Prior year comparative**
Grant income:
National Lottery Community Fund
Sanofi
Individual donations and other fundraising
British Society of Perfumers
Other
**Total income from donations**
**Income from charitable activities**
Conference income
Contract income
**Total income from charitable activities**|Restricted
£
£
35,569
-
6,823
-
-
5,000
-
10,818
42,392
15,818
Restricted
£
£
18,213
-
3,000
-
-
500
-
9,655
21,213
10,155
**2024**
**Total**
**£**
**1,777**
**157,100**
**158,877**
Unrestricted
Unrestricted|**2024**
**Total**
**£**
**35,569**
**6,823**
**5,000**
**10,818**|
|---|---|---|
|||**58,210**|
|||2023
Total
£
18,213
3,000
500
9,655|
|||31,368|
|||2023
Total
£
-
157,100|
|||157,100|
## **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 2024 was £35,569 (2023: £18,213). There are no unfulfilled conditions or contingencies attaching to these grants in 2024/25.
16
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **6. Total expenditure**
|Raising
funds
£
Fundraising expenses
4,876
Accountancy
-
Consultancy
-
Activity costs
-
Insurance
-
Running costs
-
Travel expenses
-
Recruitment
-
Staff costs (note 8)
28,517
Depreciation
-
**Sub-total**
33,393
Allocation of support and governance costs
8,643
**Total expenditure**
**42,036**
Total governance costs were £3,307 (2023: £2,742).
**Prior period comparative**
Raising
funds
£
Fundraising expenses
7,554
Accountancy
-
Activity costs
`
-
Insurance
-
Running costs
-
Travel expenses
-
Recruitment
-
Staff costs (note 8)
18,526
Other staff costs
-
**Sub-total**
26,080
Allocation of support and governance costs
4,110
**Total expenditure**
30,190|Charitable
activities
£
£
-
-
-
3,246
1,680
-
22,768
-
1,001
-
7,777
-
312
-
565
126,149
33,758
-
963
150,597
47,622
38,979
(47,622)
**189,576**
**-**
Charitable
activities
£
£
-
-
-
2,742
9,686
-
-
1,032
-
9,329
-
570
-
150
113,254
9,263
-
394
122,940
23,480
19,370
(23,480)
142,310
-
Support and
governance
costs
Support and
governance
costs|**2024**
**Total**
**£**
**4,876**
**3,246**
**1,680**
**22,768**
**1,001**
**7,777**
**312**
**565**
**188,424**
**963**|
|---|---|---|
|||**231,612**
-|
|||**231,612**|
|||2023 Total
£
7,554
2,742
9,686
1,032
9,329
570
150
141,043
394|
|||172,500
-|
|||172,500|
17
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
**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)|**2024**
**£**
**Nil**
**-**
**2,100**
**656**|2023
£
Nil
77
1,925
512|
|---|---|---|
In the prior year, payments for travel and subsistence totalling £77 were made to one trustee.
In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.
**8. Staff costs and numbers** Staff costs were as follows:
|Salaries and wages
Social security costs
Pension costs
Employees earning more than £60,000 during the year:
Between £60,000 and £70,000
Between £70,000 and £80,000|**2024**
**£**
**167,551**
**12,713**
**8,160**
**188,424**
**2024**
**No.**
**-**
**1**|2023
£
126,765
6,648
7,630|
|---|---|---|
|||141,043|
|||2023
No.
1
-|
The key management personnel of the charity comprise the trustees and chief executive. The total employee benefits of the key management personnel were £79,647 (2023: £74,224).
|Average head count|**2024**
**No.**
**4**|2023
No.
3|
|---|---|---|
## **9. Taxation**
The charity has no corporation tax liability as all its income is charitable and is applied for charitable purposes.
18
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
|**Tangible fixed assets**
**Cost**
At 1 August 2023
Additions in year
At 31 July 2024
**Depreciation**
At 1 August 2023
Charge for the year
At 31 July 2024
**Net book value**
**At 31 July 2024**
At 31 July 2023|£
2,697
768
3,465
-
963
963
2,502
2,697
Computer
equipment|**Total**
**£**
**2,697**
**768**|
|---|---|---|
|||**3,465**|
|||**-**
**963**|
|||**963**|
|||**2,502**|
|||2,697|
## **10. Tangible fixed assets**
No depreciation was charged in the prior year, as these assets were purchased just before the year end.
## **11. Debtors**
|Trade debtors
Prepayments
Other debtors
**Creditors: amounts falling due within 1 year**
Trade creditors
Accruals
Taxation and social security
VAT
Other creditors|**2024**
**£**
**47,130**
**400**
**-**
**47,530**
**2024**
**£**
**2,917**
**4,160**
**4,832**
**7,469**
**956**
**20,334**|2023
£
47,130
-
80|
|---|---|---|
|||47,210|
|||2023
£
3,374
4,248
3,494
6,524
764|
|||18,404|
## **12. Creditors: amounts falling due within 1 year**
19
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **13. Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 July 2024**
**Prior period comparative**
Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 July 2023**|Restricted
funds
£
-
23,045
(1,220)
**21,825**
Restricted
funds
£
-
9,610
(1,750)
7,860|£
-
69,224
(19,114)
**50,110**
£
-
98,364
(16,430)
81,934
Designated
funds
Designated
funds|General
funds
£
2,502
50,289
-
**52,791**
General
funds
£
2697
44,588
(224)
47,061|**Total**
**funds**
**£**
**2,502**
**142,558**
**(20,334)**|
|---|---|---|---|---|
|||||**124,726**|
|||||Total
funds
£
2,697
152,562
(18,404)|
|||||136,855|
20
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **14. Movements in funds**
|**Restricted funds**
National Lottery Community
Fund
Firmenich Charitable Trust
GlaxoSmithKline
Sanofi 21
Medtronic
Sanofi 22
UEA
**Total restricted funds**
_Designated funds:_
Research fund
Cadent Gas
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**|£
-
4,676
457
457
457
1,813
-
7,860
1,253
80,681
81,934
47,061
128,995
136,855
At 1
August
2023|Income
£
£
35,569
(19,691)
-
-
-
(457)
-
(457)
-
(457)
-
(542)
6,823
(6,823)
42,392
(28,427)
667
-
157,100
(189,591)
157,767
(189,591)
19,324
(13,594)
177,091
(203,185)
219,483
(231,612)
Expenditure|£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfers
between
funds|**£**
**15,878**
**4,676**
**-**
**-**
**-**
**1,271**
**-**
**At 31**
**July 2024**|
|---|---|---|---|---|
|||||**21,825**|
|||||**1,920**
**48,190**|
|||||**50,110**|
|||||**52,791**|
|||||**102,901**|
|||||**124,726**|
## **Purposes of restricted funds**
National Lottery Community This fund is being used to deliver the activities and outcomes Fund detailed in the Fifth Sense Social Action Programme, as presented to and approved by the NLCF when awarding us this funding.
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 Conferences held in Nov 2021 and Nov 2023.
Sanofi 21
This fund was provided, and has been used, to support the Fifth Sense National Conferences held in Nov 2021 and Nov 2023.
21
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **14. Movements in funds (continued)**
Medtronic Sanofi 22
This fund was provided, and has been used, to support the Fifth Sense National Conferences held in Nov 2021 and Nov 2023.
This fund was provided, and has been used, to support the Fifth Sense Volunteer Training event held in Dec 2022 and the National Conference in 2023.
UEA
Funding of £6,823 was provided by the University of East Anglia from a Research Capability Fund grant provided to the University and Fifth Sense by Norfolk and Waveney Integrated Care Board to undertake a project to identify barriers in reporting smell and taste disorders amongst people from minority communities.
## **Purposes of designated funds**
Research fund This fund is being 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 is being 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
Sanofi 22
**Total restricted funds**
_Designated funds:_
Research fund
Cadent Gas
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**|At 1
August
2022
£
34,379
4,676
457
457
457
-
40,426
1,253
34,408
35,661
43,562
79,223
119,649|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
£
-
-
-
-
-
-
-
-
-
-
-
-
-|At 31 July
2023
£
-
4,676
457
457
457
1,813|
|---|---|---|---|---|
|||||7,860|
|||||1,253
80,681|
|||||81,934|
|||||47,061|
|||||128,995|
|||||136,855|
22
## **Fifth Sense**
## **Notes to the financial statements**
## **For the year ended 31 July 2024**
## **15. Related party transactions**
During the year, the charity received total donations without conditions from related parties of £240 (2023: £900). There were no amounts outstanding at year end (2023: none).
23