|||Page||
|---|---|---|---|
|Report ofthe Trustees||1 to|3|
|Independent<br>Examiner's|Report|||
|Statement of Financial Activities||||
|Balance Sheet||6 to|7|
|Cash Flow Statement||||
|Notes to the Cash Flow|Statement|||
|Notes to the Financial Statements||10 to|19|
|Detailed Statement<br>of Financial Activities||20 to|21|





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## 

## 

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## 



## 





## 

## 

||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds|funds|funds|funds|funds|
||||Notes|E|E|E|E|E|
|INCOME AND|||||||||
|ENDOWMENTS|FROM||||||||
|Donations<br>and legacies|||3|436,124|||436,125|378,933|
|Other trading<br>activities||||29,971|97,333||127,304|76,320|
|Investment<br>income||||||16,626|16,626|24,857|
|Total||||466,095|97,334|16,626|580,055|480,110|
|EXPENDITURE|ON||||||||
|Raising funds||||54,373|||54,373|66,118|
|Charitable<br>activities|||||||||
|Untestrict||||16,167|||16,167|19,287|
|Grant||||||||5,000|
|Alternative<br>Research|||||262,302||262,302|202,700|
|Training<br>School|||||||||
|Management<br>it Admin||||265,163||10,711|275,874|200,133|
|Other||||80|||80||
|Total||||335,783|262,302|10,711|608,796|493,238|
|Net gains/(losses)||on|||||||
|investments||||44,330||(5,915)|38,415|182,982|
|NET|||||||||
|INCOME/(EXPENDITURE)||||174,642|(164,968)||9,674|169,854|
|RECONCILIATION||OF|||||||
|FUNDS|||||||||
|Total funds<br>brought||forward||531,340|92,966|1,048,345|1,672,651|1,502,797|
|TOTAL FUNDS CARRIED|||||||||
|FORWARD||||705,982|(72,002)|1,048,345|1,682,325|1,672,651|





## 

## 




## 



## 

||THE FUND FOR THE REPLACEMENT<br>OF ANIMALS IN MEDICAL<br>EXPERIMENTS (FRAME) CIO<br>Notes tothe Cash Flow Statement<br>for the year ended 31March 2022|THE FUND FOR THE REPLACEMENT<br>OF ANIMALS IN MEDICAL<br>EXPERIMENTS (FRAME) CIO<br>Notes tothe Cash Flow Statement<br>for the year ended 31March 2022|THE FUND FOR THE REPLACEMENT<br>OF ANIMALS IN MEDICAL<br>EXPERIMENTS (FRAME) CIO<br>Notes tothe Cash Flow Statement<br>for the year ended 31March 2022|||
|---|---|---|---|---|---|
|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM|||OPERATING ACTIVITIES||
|||||2022<br>I|2021<br>I|
|Net income for the reporting<br>ofFinancial Activities)||period (as per|the Statement|9,674|169,854|
|Adjustments<br>for:||||||
|Depreciation<br>charges||||80||
|Gain on investments||||(38,415)|(182,982)|
|Income attributable<br>to endowment<br>Expenditure<br>attributable<br>to endowment||||(16,626)<br>10,711|(24,857)<br>7,766|
|Increase<br>in debtors<br>(Decrease)/increase|in creditors|||(39,029)<br>(51,948)|(50,068)<br>42,853|
|Net cash used ln operations||||(125,553)|(37,434)|
|ANALYSIS OF CHANGES IN NET FUNDS||||||
||||At 1.4.21<br>I|Cash flow<br>I|At 31.3.22|
|Net cash||||||
|Cash at bank and<br>in|hand||603,438|(124,487)|478,951|
||||603,438|(124,487)|478,951|
|Total|||603,438|(124,487)|478,951|





## 

## 



## 

## 

## 

## 

## 

||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds<br>6|funds<br>6|funds|funds<br>I|funds<br>I|
|Donations||||38,107|||38,107|33,688|
|Gift aid||||3,586|||3,586|1,729|
|Legacies||||394,431|||394,432|343,516|
|||||436,124|||436,125|378,933|
|OTHER|TRADING||ACTIVITIES||||||
||||||||2022|2021|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds<br>6|funds<br>E|funds<br>I|funds<br>I|funds<br>6|
|Fundraising||||26,800|||26,800|24,645|
|Publications||||155|97,333||97,488|51,675|
|Training|school|||3,016|||3,016||
|||||29,971|97,333||127,304|76,320|
|INVESTMENT INCOME|||||||||
||||||||2022|2021|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds<br>I|funds|funds|funds|funds<br>I|
|Investment||income||||16,626|16,626|24,857|
|RAISING FUNDS|||||||||
|Raising|donations||and|legacies|||||
||||||||2022|2021|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds|funds|funds|funds|funds|
|||||I|||||
|Travel and subsistence||||890|||890|65|
|Advertising||||49,906|||49,906|62,441|
|Subscriptions||||2,373|||2,373|2,154|
|Printing||||987|||987|901|
|Staff training||and|||||||
|development||||217|||217|557|
|||||54,373|||54,373|66,118|





## 

## 

## 

|||||||||Grant|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funding|of||
||||||||Direct|activities|||
||||||||Costs (see|(see note|||
||||||||note 8)|9)||Totals|
|||||||||E||E|
|Untestrict|||||||16,167|||16,167|
|Alternative||Research|||||36,470|225,832||262,302|
|Management|||it Admin||||275,874|||275,874|
||||||||328,511|225,832||554,343|
|DIRECT|COSTS|||OF CHARITABLE ACTIVITIES|||||||
|||||||||2022||2021|
|||||||||E||E|
|Staff costs||||||||229,591||142,042|
|Printing||||||||702||1,875|
|Postage||||||||604||412|
|Utilities||||||||(324)||81|
|Stationery||||||||521||695|
|Sundries||||||||251||495|
|Subscriptions||||||||618||538|
|ICT maintenance||||||||5,703||2,923|
|Training|School consultancy|||||||15,300||15,300|
|Legal and professional|||||fees|||31,881||8,195|
|Research|and||dissemination|||||906||1,251|
|Telephone||||||||962||649|
|Insurance||||||||3,495||2,805|
|Repairs||||||||||31|
|Foreign exchange<br>VAT||||gain/loss||||(36)<br>16,167||21,128|
|Accountancy|||fees|||||17,870||14,700|
|Independent|||examination|||fees||4,300||4,300|
|||||||||328,511||217,420|
|GRANTS|PAYABLE||||||||||
|||||||||2022||2021|
|||||||||||E|
|Untestrict||||||||||2,000|
|Grant||||||||||5,000|
|Alternative||Research||||||225,832||202,700|
|||||||||225,832||209,700|





## 

## 

## 

## 

## 

|The total <br>follows:|gra|nts<br>paid to i|nstitutions<br>during<br>the year was as|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E|E|
|University|of|Nottingham||200,000|202,000|
|University|of|Cardiiy||2,500|5,000|
|University|of|Cambridge|||2,700|
|University|of|Strathclyde||6,567||
|University|of|Oxford||2,960||
|University|of|Newcastle||3,497||
|University|of|Huddersfield||3,000||
|University|of|Hull||7,308||
|||||225,832|209,700|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)|||is stated after charging/(crediting):|||
|||||2022|2021|
|||||E||
|Depreciation||- owned assets||80||



## 

## 

## 

## 

|STAFF CO|S|TS|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||E|E|
|wages and||salaries|||||173,394|100,957|
|Social secudity costs|||||||33,399|22,630|
|Other pension costs|||||||22,798|18,455|
||||||||229,591|142,042|
|The average||monthly|number|of employees|during|the year was as follows:|||
||||||||2022|2021|
|Charitable|activities||||||7|5|





## 

## 

## 

## 

## 

|TANGIBLE FIXE|DASSE|TS|||||
|---|---|---|---|---|---|---|
|||||Fixtures|||
|||||and|Computer||
|||||fittings|equipment|Totals|
|||||E||E|
|COST|||||||
|At 1 April 2021|||||28,578|28,578|
|Additions||||328|975|1,303|
|At 31 March 2022||||328|29,553|29,881|
|DEPRECIATION|||||||
|At 1 April 2021|||||28,578|28,578|
|Charge for year|||||80|80|
|At 31 March 2022|||||28,658|28,658|
|NET BOOK VALUE|||||||
|At 31 March 2022||||328|895|1,223|
|At 31 March 2021|||||||
|FIXEDASSET INVESTMENTS|||||||
|||||||Listed|
|||||||investments|
|||||||E|
|MARKET VALUE|||||||
|At 1 April 2021||||||1,174,124|
|Additions||||||2,161,646|
|Disposals||||||(2,178,061)|
|Revaluations||||||58,376|
|At 31 March 2022||||||1,216,085|
|NET BOOK VALUE|||||||
|At 31 March 2022||||||1,216,085|
|At 31 March 2021||||||1,174,124|
|There were no investment||assets outside the UK.|||||
|Cost or valuation|at 31 March 2022 is represented||by:||||
|||||||Listed|
|||||||investments|
|||||||E|
|Valuation<br>in 2022||||||(48,993)|
|Cost||||||1,265,078|
|||||||1,216,085|





## 

## 

## 

## 

## 

## 

## 

## 

## 

||||||||2022|2021<br>I|
|---|---|---|---|---|---|---|---|---|
|Trade debtors|||||||6,000|14,000|
|VAT|||||||723|26|
|Prepayments|and||accrued||income||106,768|60,436|
||||||||113,491|74,462|
|CREDITORS:||AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||
||||||||2022|2021|
||||||||E|E|
|Trade creditors|||||||112,930|111,945|
|Social security||and other|||taxes||5,640|4,532|
|Other creditors|||||||8,200|8,200|
|Accruals and deferred||||income|||655|54,696|
||||||||127,425|179,373|
|MOVEMENT|IN FUNDS||||||||
||||||||Net||
||||||||movement|At|
||||||At|1.4.21|in funds|31.3.22|
|||||||E|E|E|
|Unrestricted||funds|||||||
|General<br>fund|||||499,770||172,450|672,220|
|Training<br>School Fund|||||31,570||2,192|33,762|
||||||531,340||174,642|705,982|
|Restricted funds|||||||||
|Alternative<br>Research||||Fund|13,523||(262,302)|(248,779)|
|ATLA Fund|||||16,925||97,334|114,259|
|Dogs Project Fund|||||20,299|||20,299|
|Education<br>Fund||||||(805)||(805)|
|PiLAS Fund|||||43,024|||43,024|
||||||92,966||(164,968)|(72,002)|
|Endowment|funds||||||||
|FRAME Bill Annett|||Annual||Lecture||||
|Fund|||||50,000|||50,000|
|FRAME Endowment|||Fund||998,345|||998,345|
||||||1,048,345|||1,048,345|
|TOTAL FUNDS|||||1,672,651||9,674|1,682,325|



## 



## 

## 

|Net movement<br>in|fu||nds,<br>i|ncluded|in the a|bove are as foll|ows:|||
|---|---|---|---|---|---|---|---|---|---|
|||||||incoming|Resources|Gains and|Movement|
|||||||resources<br>6|expended<br>E|losses<br>I|in funds|
|Unrestricted<br>funds||||||||||
|General<br>fund||||||463,078|(334,958)|44,330|172,450|
|Training<br>School Fund||||||3,017|(825)||2,192|
|||||||466,095|(335,783)|44,330|174,642|
|Restricted funds||||||||||
|Alternative<br>Research|||Fund||||(262,302)||(262,302)|
|ATLA Fund||||||97,334|||97,334|
|Endowment<br>funds||||||97,334|(262,302)||(164,968)|
|FRAME Endowment|||Fund|||16,626|(10,711)|(5,915)||
|TOTAL FUNDS||||||580,055|(608,796)|38,415|9,674|
|Comparatives<br>for||movement|||in funds|||||
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 1.4.20|in funds|funds|31.3.21|
|Unrestricted<br>funds||||||||||
|General<br>fund||||||543,989|(45,577)|1,358|499,770|
|Training<br>School Fund||||||31,570|||31,570|
|||||||575,559|(45,577)|1,358|531,340|
|Restricted funds||||||||||
|Alternative<br>Research|||Fund|||13,523|(11,474)|11,474|13,523|
|ATLA Fund||||||2,925|26,832|(12,832)|16,925|
|Dogs Project Fund||||||20,299|||20,299|
|Education<br>Fund||||||(805)|||(805)|
|PiLAS Fund||||||43,024|||43,024|
|||||||78,966|15,358|(1,358)|92,966|
|Endowment<br>funds||||||||||
|FRAME Bill Annett|Annual|||Lecture||||||
|Fund||||||50,000|||50,000|
|FRAME Endowment||Fund||||798,272|200,073||998,345|
|||||||848,272|200,073||1,048,345|
|TOTAL FUNDS||||||1,502,797|169,854||1,672,651|





## 

## 

## 

|Comparative<br>net|mo|vemen|t<br>in funds,<br>included<br>in the abo|ve are as follo|ws:||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
||||6|5|6|E|
|Unrestricted<br>funds|||||||
|Generalfund|||404,627|(450,204)||(45,577)|
|Restricted funds|||||||
|Alternative<br>Research||Fund|1|(11,475)||(11,474)|
|ATLA Fund|||50,625|(23,793)||26,832|
||||50,626|(35,268)||15,358|
|Endowment<br>funds|||||||
|FRAME Endowment||Fund|24,857|(7,766)|182,982|200,073|
|TOTAL FUNDS|||480,110|(493,238)|182,982|169,854|
|A current year 12|months||and prior year 12 months<br>combined<br>position||is as follows:||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.20<br>I|in funds<br>I|funds|31.3.22|
|Unrestricted<br>funds|||||||
|General<br>fund|||543,989|126,873|1,358|672,220|
|Training<br>School Fund|||31,570|2,192||33,762|
||||575,559|129,065|1,358|705,982|
|Restricted funds|||||||
|Alternative<br>Research||Fund|13,523|(273,776)|11,474|(248,779)|
|ATLA Fund|||2,925|124,166|(12,832)|114,259|
|Dogs Project Fund|||20,299|||20,299|
|Education<br>Fund|||(805)|||(805)|
|PiLAS Fund|||43,024|||43,024|
||||78,966|(149,610)|(1~358)|(72~002)|
|Endowment<br>funds|||||||
|FRAME Bill Annett|Annual||Lecture||||
|Fund|||50,000|||50,000|
|FRAME Endowment|Fund||798,272|200,073||998,345|
||||848,272|200,073||1,048,345|
|TOTAL FUNDS|||1,502,797|179,528||1,682,325|





## 

## 

||||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|---|
||||||resources|expended|losses|in funds|
||||||6|6|6|6|
|Unrestricted|||funds||||||
|General|fund||||867,705|(785,162)|44,330|126,873|
|Training|School Fund||||3,017|(825)||2,192|
||||||870,722|(785,987)|44,330|129,065|
|Restricted||funds|||||||
|Alternative||Research||Fund|1|(273,777)||(273,776)|
|ATLA Fund|||||147,959|(23,793)||124,166|
||||||147,960|(297,570)||(149,610)|
|Endowment|||funds||||||
|FRAME|Endowment|||Fund|41,483|(18,477)|177,067|200,073|
|TOTAL|FUNDS||||1,060,165|(1,102,034)|221,397|179,528|



## 

## 

## 



## 

## 

## 

## 

## 


## 

## 



## 

## 

||||<br>for the year ended 3|<br>1March 2022||
|---|---|---|---|---|---|
|||||2022|2021|
|||||6|6|
|INCOME AND ENDOWMENTS||||||
|Donations|and|legacies||||
|Donations||||38,107|33,688|
|Gift aid||||3,586|1,729|
|Legacies||||394,432|343,516|
|||||436,125|378,933|
|Other trading activities||||||
|Fundraising||||26,800|24,645|
|Publications||||97,488|51,675|
|Training<br>school||||3,016||
|||||127,304|76,320|
|Investment|income|||||
|Investment|income|||16,626|24,857|
|Total incoming||resources||580,055|480,110|
|EXPENDITURE||||||
|Raising donations|||and legacies|||
|Travel and subsistence||||890|65|
|Advertising||||49,906|62,441|
|Subscriptions||||2,373|2,154|
|Printing||||987|901|
|Stalf training|and|development||217|557|
|||||54,373|66,118|
|Charitable|activities|||||
|Wages||||173,394|100,957|
|Social security||||33,399|22,630|
|Pensions||||22,798|18,455|
|Printing||||702|1,875|
|Postage||||604|412|
|Utilities||||(324)|81|
|Stationery||||521|695|
|Sundries||||251|495|
|Subscdiptions||||618|538|
|ICT maintenance||||5,703|2,923|
|Training<br>School consultancy||||15,300|15,300|
|Legal and professional|||fees|31,881|8,195|
|Research and dissemination||||906|1,251|
|Telephone||||962|649|
|Insurance||||3,495|2,805|
|Repairs|||||31|
|Foreign exchange<br>VAT||gain/loss||(36)<br>16,167|21,128|
|Accountancy|fees|||17,870|14,700|
|Carried forward||||324,211|213,120|





## 

||||etae tatement onanca cves<br>for the year ended 31March 2022|||
|---|---|---|---|---|---|
|||||2022I|2021|
|Charitable<br>activities||||||
|Brought forward||||324,211|213,120|
|Independent<br>examination||fees||4,300|4,300|
|Grants to institutions||||225,832|209,700|
|||||554,343|427,120|
|Other||||||
|Depreciation<br>of tangible||fixed assets||80||
|Total resources<br>expended||||608,796|493,238|
|Net expenditure<br>before gains <br>losses|||and|(28,741)|(13,128)|
|Realised recognised|gains and losses|||||
|Realised gains/(losses)<br>investments|on fixed asset|||38,415|182,982|
|Net income||||9,674|169,854|