Charity registration number 1181173 (England and Wales)
SPINE AID CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SPINE AID CIO
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr Iqroop Chopra |
|---|---|
| Mr Amarjit Rai | |
| Charity number (England and Wales) | 1181173 |
| Principal address | 92 Newmarket Road |
| NORWICH | |
| Norfolk | |
| United Kingdom | |
| NR2 2LB | |
| Accountants | Argents Accountants Limited |
| 15 Palace Street | |
| NORWICH | |
| Norfolk | |
| United Kingdom | |
| NR3 1RT |
SPINE AID CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
SPINE AID CIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, a deed of trust, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The charity's objects are:-
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The relief of sickness and preservation of health in particular but not exclusively in India and Zambia by:-
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The provision of medical aid, diagnosis, surgical procedures and care to those with severe spinal conditions or diseases; and
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Advancing the education of doctors and health professionals by the provision of training and support with the aim of improving health care facilities.
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The relief of those in need due to age, ill health, disability, financial hardship or other disadvantage in particular but not exclusively in India and Zambia in such ways as the Trustees may from time to time think fit. There has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public benefit
Commensurate with the stated objectives of the charity as listed above and declared to the charity Commission, the charity's work is for the public benefit.
Achievements and performance
Spine Aid has continued with its work at SGL charitable hospital Jalandhar, India. This year Spine Aid were able to support Standing Straight in their work treating patients with spinal disabilities. Spine Aid attended in March and October/November 2024. We continue helping with numerous operations and teaching sessions for nurses, physios and doctors on spinal conditions and the value of screening and selecting patients for future treatment.
Financial review
Please see the financial statements set out below.
The balance held as unrestricted funds at the year ended 31 December 2024 amounted to £71381 There were no restricted funds in the year.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risk management
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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SPINE AID CIO
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The charity was registered with the Charity Commission on 14 December 2018 and is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Prior to the charity being set up, similar activity had been carried out less formally by doctors and health care professionals operating from the Norfolk and Norwich University Hospital (NNUH). Accordingly, during this first period of account an amount of money previously collected as donations by that group of individuals for use in a similar way to this charity's objectives was received by this charity from the NNUH for this charity to carry on the work in future. The receipt of that money is declared as a donation in these accounts.
Trustees
The trustees who served during the year and up to the date of signature of the financial statements were: Mr Iqroop Chopra
Mr Amarjit Rai
Recruitment and appointment of new trustees
The Trustees will recruit and appoint new trustees with appropriate skill sets as circumstances dictate.
Decision making
The Board of Trustees meet periodically during each year and are solely responsible for the management and operations of the charity.
The trustees' report was approved by the Board of Trustees.
Mr Amarjit Rai
Trustee Dated: 29 October 2025
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SPINE AID CIO
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SPINE AID CIO FOR THE YEAR ENDED 31 DECEMBER 2024
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of Spine Aid CIO for the year ended 31 December 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 2 October 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Spine Aid CIO and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spine Aid CIO and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Spine Aid CIO has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Spine Aid CIO. You consider that Spine Aid CIO is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Spine Aid CIO. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Argents Accountants Limited
Chartered Accountants 15 Palace Street NORWICH
Norfolk NR3 1RT United Kingdom 30 October 2025
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SPINE AID CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 2,500 | 9,930 |
| Total income | 2,500 | 9,930 | |
| Expenditure on: | |||
| Charitable activities | 4 | 5,619 | 4,668 |
| Total expenditure | 5,619 | 4,668 | |
| Net income/(expenditure) and movement in funds | (3,119) | 5,262 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 74,500 | 69,238 | |
| Fund balances at 31 December 2024 | 71,381 | 74,500 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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SPINE AID CIO
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets The funds of the charity Unrestricted funds 9 |
2024 £ 73,181 (1,800) |
£ 71,381 71,381 71,381 |
2023 £ 75,700 (1,200) |
£ 74,500 |
|---|---|---|---|---|
| 74,500 | ||||
| 74,500 |
The financial statements were approved by the trustees on 29 October 2025
Mr Amarjit Rai Trustee
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SPINE AID CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Spine Aid CIO is a Charitable Incorporated Organisation (CIO).
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, a deed of trust, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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SPINE AID CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
SPINE AID CIO
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 2,500 | 9,930 |
4 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| activities | activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Subscriptions and fees | 19 | 199 | |
| Travel | - | 869 | |
| Donations | 5,000 | 3,000 | |
| 5,019 | 4,068 | ||
| Share of support and governance costs (see note 5) | |||
| Governance | 600 | 600 | |
| 5,619 | 4,668 | ||
| Analysis by fund | |||
| Unrestricted funds | 5,619 | 4,668 | |
| 5 | Support costs allocated to activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Governance costs | 600 | 600 | |
| Analysed between: | |||
| Charitable activities | 600 | 600 |
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SPINE AID CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or expenses during the year (2023- one trustee was reimbursed £869 for travel expenses).
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
8 Creditors: amounts falling due within one year
| Trade creditors Accruals and deferred income |
2024 £ 1,200 600 1,800 |
2023 £ 600 600 |
|---|---|---|
| 1,200 |
9 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January | Incoming | Resources | At 31 | |
|---|---|---|---|---|
| 2024 | resources | expended | December | |
| 2024 | ||||
| £ | £ | £ | £ | |
| General funds | 74,500 | 2,500 | (5,619) | 71,381 |
| Previous year: | At 1 January | Incoming | Resources | At 31 |
| 2023 | resources | expended | December | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 69,238 | 9,930 | (4,668) | 74,500 |
10 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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