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About National Axial Spondyloarthritis Society
Our purpose:
To transform the diagnosis, treatment and care of people with axial SpA (including AS) so everyone can live well with it.
Our cause:
Axial SpA (including AS), is an inflammatory condition of the spine and joints. It’s an invisible and misdiagnosed condition. Often leaving people feeling powerless, in increasing pain and extreme exhaustion.
What we do:
We campaign policy makers for early diagnosis and better services. We work with the NHS to get axial SpA identified and diagnosed quickly. We’re determined that everyone receives effective care.
We make sure people with axial SpA get the latest information and the support they need to tackle living with this condition. And we build an active community, online and through our local branches across the UK.
Axial SpA works silently. We don’t.
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Contents
Our impact in 2020 P4
Administrative information P11
Trustees' report P13
Independent Auditors’ Report P18
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Statement of financial activities
Balance sheet P22
P23
Statement of cash flows
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Notes to the financial statements
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Our Impact in 2020
Report from the Chair and CEO
The Covid-19 pandemic may have over-shadowed 2020, but our work to deliver our new five-year strategy didn’t stop.
Despite significant challenges, we campaigned policy makers for better services, worked with the NHS to improve care and made sure people got the latest information and support they needed to tackle the challenges of life with axial SpA.
Axial SpA works silently. We don’t.
Raj Mahapatra, Dr Dale Webb, Chair CEO
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By the side of people with axial SpA (AS) in 2020
As the Covid-19 pandemic hit, people needed our support more than ever. We responded by redesigning our frontline services, so people living with axial SpA had the support they needed to tackle the challenges of living with the condition through extraordinary times.
Our helpline was a lifeline
We doubled our helpline opening hours and increased the number of staff on the helpline.
The number of enquiries that we responded to rose by 300% in the first six months and over 12 months we helped 5,600 people who were struggling with issues related to axial SpA. More people than ever faced financial difficulties and we helped people obtain more than £800,000 in disability benefits that they were entitled to.
Increase in enquiries responded too
Keeping people moving and connected, even when we couldn’t go outside
Exercise is crucial for people living with axial SpA. To help keep people moving, we ran 33 innovative Facebook live sessions and produced videos that were viewed 135,000 times. We also created a new section of our website, My AS My Life , with advice, blogs, guides and videos to empower people to tackle the challenges of living with axial SpA.
Views of our Facebook Live sessions
Thanks to funding from the National Lottery, we offered 65 people three online physiotherapy sessions.
Providing clarity, in a confusing and changing world
A new Covid-19 section on our website provided clarity when official information could be confusing. The page was visited almost 50,000 times.
Campaigning in Parliament to transform diagnosis and treatment
Our work to ensure that policy makers and politicians hear the voice of people with axial SpA didn’t stop. The All-Party Parliamentary Group (APPG) on Axial Spondyloarthritis continued to share our commitment to drive change.
Calling for faster diagnosis and improvements in care
Campaigning for Ministers to support measures to end the delay to diagnosis
In September, Tom Randall MP hosted a landmark parliamentary debate on the delay to diagnosis of axial SpA and we were immensely grateful to him for sharing his story of life with the condition.
We worked with the APPG to launch a landmark report, Assessing Variation in Axial Spondyloarthritis Services in England , in January. Based on data from a freedom of information request, it revealed worrying gaps in the care and diagnosis of people living with axial SpA and called for urgent improvements.
During the debate, the Minster of State for Care, Helen Whatley, gave her commitment to supporting greater public awareness of axial SpA.
Ensuring people got access to services during the pandemic and beyond
Keeping hydrotherapy alive
A special virtual meeting of the APPG found that thousands of people were struggling to access appointments with healthcare teams. The results were published in a report, Minimum Services Specification Recommendation Paper , which called for axial SpA services to be maintained during the pandemic and beyond.
Our November APPG meeting took the first steps towards developing a campaign so that hydrotherapy gets the attention it deserves.
In 2021, we will continue to work with other organisations to publish a Hydrotherapy Manifesto to ensure this sometimes overlooked form of treatment is recognised as a legitimate option for people with axial SpA.
The findings were published in an editorial in Lancet Rheumatology and discussed with the National Clinical Director for Musculoskeletal Conditions for NHS England.
Covid-19 website page views online
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Transforming care. Transforming diagnosis
We continued to work with the NHS and healthcare professionals to ensure that everyone with axial SpA received effective care and diagnosis.
We’re acting on the delay to diagnosis
Our branches adapted and kept people positive
In 2020, we established a ground-breaking five-year programme that aims to end the unacceptable average time to diagnosis of axial SpA of more than eight years.
We have 90 volunteer-led branches around the UK, and over half ran virtual sessions, giving people a much-needed opportunity to exercise with a trained physiotherapist and connect with friends.
NASS is the first organisation in the world to call for a Gold Standard Time to Diagnosis of one year and is leading the largest programme ever undertaken to act on the delay. The programme will be launched in full in June 2021.
Membership connected people, even when we couldn’t meet in person
By the end of 2020, our membership had risen to 3,685.
Rheumatology teams working with us to
drive quality improvement
Our members told us that during the pandemic, when people felt alone and isolated, NASS membership was more important than ever.
Aspiring to Excellence helps rheumatology departments to improve their care of axial SpA patients, with the support of our external quality improvement experts at the NHS Transformation Unit.
Our events went online
In June, we held our Members Day online which was attended by over 150 people. It provided a great opportunity for people to reconnect and find out about new approaches to living well with axial SpA.
During 2020 the first six teams faced considerable disruption, with many staff redeployed to the frontline to care for Covid-19 patients. This didn’t deter them and the 31 people taking part made commendable strides in their Quality Improvement (QI) learning journey and the design of 13 projects.
In November, we hosted Physio in Focus, in partnership with physiotherapist association AStretch. The event helped keep more than 100 people moving, at a time when they were struggling to access much needed physiotherapy appointments.
With five more rheumatology departments joining in 2021, this is the largest quality improvement initiative in axial SpA anywhere in the world.
Building communities and embracing new technologies
During 2020, it was more important than ever that NASS was here to make sure that no one with axial SpA felt alone. Despite the challenges of Covid-19, our community remained active and everyone’s determination to join together and combat isolation shone through.
Fundraising in 2020
Despite challenging times, our fundraising didn’t stop.
We are grateful to our corporate sponsors, including UCB with whom we secured a five-year funding agreement that enabled us to bring the Gold Standard Time to Diagnosis programme to life. We also secured emergency Covid-19 funding from industry sponsors.
givers, who collectively gave over £9,000 in 2020, are helping to ensure that our income is sustainable for the future.
We want to say a big thank you to all our fundraisers who walked, ran and stretched their way to raising £58,000 for NASS.
Collectively, our generous donors gave over £40,000, which made a significant difference during a very challenging year. Our growing number of regular
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In 2020 we received a total
of £251,450 in grant funding.
Thank you to AbbVie, Biogen, Eli Lilly,
Janssen, Novartis and UCB for
supporting our vital work.
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NASS Annual Report & Accounts 2020
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Charity Registration No. 1183175 (England and Wales) Charity Registration No. SC049746 (Scotland)
National Axial Spondyloarthritis Society Annual Report and Financial Statements for the year ended 31 December 2020
Administrative information
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Trustees Raj Mahapatra, Chair (Re-elected 13 June 2020)
Danny McFarlane, Treasurer
Paul Curry
Peter Townsend
Poppy Hocken
Gillian Eames
Patricia O'Callaghan
Nick Clarke
Monika Mayhew
Ben Hoare (Retired 13 June 2020)
Grant Poiner (Retired 13 June 2020)
Claire Jeffries (Elected 13 June 2020)
Dr Jacqueline Harris (Elected 13 June 2020)
Dr Antoni Chan (Elected 13 June 2020)
Chief Executive Dr Dale Webb
Charity number
1183175
(England and Wales)
Charity number
SC049746
(Scotland)
Berg Kaprow Lewis LLP
35 Ballards Lane
Auditor
London
N3 1XW
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Trustees’ Report
The Trustees present their report and financial statements for the year ended 31 December 2020.
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], the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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
NASS’s vision is as follows:
“The future we want to create is one where every person with axial spondyloarthritis (axial SpA) has timely and effective diagnosis, treatment and care, is empowered to make informed health choices and feels part of a supportive community.”
It seeks to do this by:
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providing information to the general public about axial SpA, and advice to people living with the condition, their families, carers, service-providers and employers
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advocating to ensure that every person has timely and effective diagnosis, treatment and care of the condition
Public Benefit
The Trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding on the activities NASS should undertake.
NASS provides public benefit by:
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working with statutory bodies and others that provide for the treatment and welfare of people affected by axial SpA
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educating people affected by axial SpA, as well as healthcare professionals and the public, on the problems related to it
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putting people affected by axial SpA in contact with expert advisers
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promoting research into the management and cure of axial SpA and its causes
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disseminating the results of research related to axial SpA.
In so doing NASS improves the lives of those affected by axial SpA, particularly in relation to their ability to contribute positively to the prosperity of their communities and the country as a whole.
NASS achieves these aims by developing and adopting relevant strategies and through establishing the necessary resources and an appropriate structure to deliver these strategies.
- funding and disseminating research and analysis to advance scientific understanding of the condition and its effective treatment.
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Trustees’ Report (Continued)
Achievements and performance
Reserves
Free reserves, defined as the balance of unrestricted funds less tangible fixed assets, currently amount to £434,967.
The remaining funds are comprised of two properties (valued at £700,000) from which NASS derives rental income, other tangible assets of £10,703, branch funds of £304,487, other restricted grants totalling £175,907, and two statues gifted by Dame Elisabeth Frink.
Unrestricted cash reserves represent six months operating costs.
At present NASS does not have an endowment fund and therefore income must be raised each year from voluntary sources and total income is likely to fluctuate from year to year.
We aim to hold 6-9 months free reserves. This working capital protects the continuity of our core work, that is, work not funded through restricted income. Core work includes our information and support service, awareness raising, campaigning and policy influencing, and the work of our branches across the UK. We have chosen a reserves level of 6-9 months having considered the level of predictability/unreliability in our income sources and the extent to which our cost base is flexible or committed. Our largest income sources (legacies and grant funding from pharmaceutical companies) come at irregular intervals, and the majority of our costs are committed, principally in the form of the staff who deliver our charitable objectives.
Investments
NASS has an investments strategy and statement of investment principles. We have adopted a policy of maximising liquidity and therefore funds available have been held in interest bearing bank accounts or equivalent short-term deposits at varying rates of interest placed with first tier banks. NASS’s property investments comprise two residential apartments which are rented out on shorthold assured tenancies to generate income for NASS. NASS’s investments also include two Frink statues. All investments are carried at market value.
Summary of financial performance
NASS reported a deficit of expenditure over Income of £334,290.
In the financial year ending 31 December 2020 the charity received £829,223 of income (£412,735 unrestricted funds, £416,488 restricted funds).
£115,844 of the income was generated at the branch level.
Total resources expended in the year amounted to £1,163,513 (£864,892 unrestricted, £298,621 restricted).
£80,219 of expenditure was spent at the branch level.
The Covid-19 pandemic negatively impacted on our financial performance. We were unable to undertake the normal volume of community and events fundraising due to the social restrictions put in place by Government.
We were, however, successful in securing emergency Covid-19 funding from charitable trusts and pharmaceutical companies to help fund enhanced information and support services. These enhanced services were needed to meet the unprecedented demand that occurred as a consequence of the pandemic.
Overall, we were able to achieve 91% of our income budget for 2020.
The Trustees have adopted appropriate policies necessary to limit or mitigate the risks faced by NASS.
The principal risks are:
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Loss of funds: Funds are held with various first tier banks on a short term basis and as a result there is little risk of loss in the short to medium term.
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Loss of income: NASS seeks to broaden and expand its income from all sources. Nevertheless, NASS is dependent upon voluntary income, both at branch level and at national level, and aims to increase its membership locally and nationally.
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Loss of reputation: NASS seeks at all times to maintain its independent viewpoint. Assistance received from external bodies, such as members of the pharmaceutical industry, is strictly controlled so as to ensure that independence is not compromised.
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Loss of staff: NASS has a Reward Strategy to ensure that the charity is able to recruit and retain high quality staff. It also has a set of HR policies to provide the appropriate framing for all HR matters.
NASS has a safeguarding policy and set of procedures which is applicable to beneficiaries, staff, trustees and volunteers. Staff are trained and NASS branches have a training resource. The safeguarding policy and procedures will be reviewed on an annual basis by the Finance and General Purposes Committee.
Structure, governance and management
NASS is a Charitable Incorporated Organisation (CIO) and was registered as a charity in April 2019. It was formed by the National Ankylosing Spondylitis Society, an unincorporated society, whose assets were transferred to the CIO in October 2019. The rules and regulations of the CIO are set out in its Constitution, adopted by the Board of Trustees on 14 September 2019 and approved by the Charity Commission.
The governing body of NASS are an elected Board of Trustees. Only members of NASS may be appointed as Trustees. The maximum number of charity trustees that may be appointed to NASS is twelve. At every annual general meeting of the members of NASS, one third of the charity trustees will be retired from office. The charity trustees to retire by rotation will be those who
have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot. The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled by the charity trustees. Such persons shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting. The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15 (Retirement and removal of charity trustees), or as an additional charity trustee, provided that the limit specified on the number of charity trustees would not as a result be exceeded. The Chair and Treasurer are approved by the Board and selected from among the trustee group. Their term of office as Chair and Treasurer is consistent with their term of office as a trustee.
In advance of each AGM, members of NASS are widely encouraged to nominate a fellow member as Trustee. On appointment, new trustees are asked to spend a half day in the NASS central office for a briefing with the Chief Executive and staff to understand how the society works. Formal training is provided when required.
The Trustees meet quarterly to review matters of policy and to make appropriate judgments, directions and decisions on CIO issues. Trustees delegate authority on some matters to a Finance and General Purposes Committee consisting of the Chair, the Treasurer, up to three appointed Trustees and the Chief Executive. This Committee meets four times per year. NASS also has a Medical Advisory Board which acts in advisory capacity only. NASS has more than 90 volunteer-led branches across the UK, each run by a committee in accordance with guidance and policies set by NASS centrally. Day to day management of NASS is undertaken by the Chief Executive and his / her staff. The trustees consider the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. The pay of the Chief Executive is reviewed annually by the trustees.
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Trustees’ Report (Continued)
The Trustees who served during the year and up to the date of signature of the financial statements were:
Raj Mahapatra, Chair
(Retired by rotation 13 June 2020 and re-elected 13 June 2020)
Danny McFarlane, Treasurer
Paul Curry
| Peter Townsend | |
|---|---|
| Poppy Hocken | |
| Gillian Eames | |
| Patricia O'Callaghan | |
| Nick Clarke | |
| Monika Mayhew | |
| Ben Hoare | (Retired 13 June 2020) |
| Grant Poiner | (Retired 13 June 2020) |
| Claire Jeffries | (Appointed 13 June 2020) |
| Dr Jacqueline Harris | (Appointed 13 June 2020) |
| Dr Antoni Chan | (Appointed 13 June 2020) |
The charity’s current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company’s contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to 25 days purchases, based on the average daily amount invoiced by suppliers during the year.
Statement of trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. They 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’ report was approved by the Board of Trustees.
Please note: The National Axial Spondyloarthritis Society is a Charitable Incorporated Society (CIO). It was formed by the National Ankylosing Spondylitis Society, an unincorporated Society. The Charity Commission approved the CIO on 29 April 2019 and entered it onto the Register of Charities with the Registered Charity Number 1183175. The Office of the Scottish Charity Regulator approved the CIO on 20 November, registration number SC049746.
At an Annual General Meeting of the National Ankylosing Spondylitis Society held on 13 June 2019, members present voted unanimously in favour of establishing the CIO and authorising trustees of the Society to transfer all assets of the Society after the satisfaction of any proper debts and liabilities of the Society to the new CIO being a charitable organisation having objects similar to the objects of the Society. The CIO became operational on 1 November 2019.
Therefore, the 2019 data contained in the tables in this Report and Accounts only include two months of financial performance. In order to provide full comparative financial performance for 2019 we have supplemented relevant tables with additional narrative which combines the 2019 income and expenditure of the National Ankylosing Spondylitis Society (January – October) with that of the National Axial Spondyloarthritis Society (November – December).
Raj Mahapatra, Chair Trustee Dated: 4 October 2021
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Independent Auditors’ Report
Opinion
We have audited the financial statements of National Axial Spondyloarthritis Society (the ‘charity’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).
In our opinion the financial statements:
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give a true and fair view of the Charitable Incorporated Organisation’s affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and,except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
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the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Enquiring of management around actual and potential litigation and claims;
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Reviewing board meeting minutes of meetings of those charged with governance;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditors responsibilities . This description forms part of our Auditors’ report.
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Independent Auditors’ Report (Continued)
Statement of Financial Activities Including Income and Expenditure Account For the year ended 31 December 2020
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an Auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Berg Kaprow Lewis LLP
Chartered Accountants & Statutory Auditor 35 Ballards Lane London N3 1XW
Date:
4 October 2021
Berg Kaprow Lewis LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds 2020 funds funds 2019
2020 2020 2019 2019
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 3 319,212 157,086 476,298 1,787,661 398,175 2,185,836
Charitable activities 4 - 251,450 251,450 - 14,500 14,500
Other trading activities 5 58,981 3,715 62,696 10,678 3,025 13,703
Investments 6 26,094 - 26,094 5,207 - 5,207
Other income 7 8,448 4,237 12,685 - 6,414 6,414
Total income 412,735 416,488 829,223 1,803,546 422,114 2,225,660
Expenditure on:
Raising funds 8 151,114 - 151,114 31,467 1,372 32,839
Charitable activities 9 670,638 298,621 969,259 145,152 58,215 203,367
Other 14 43,140 - 43,140 - - -
Total resources expended 864,892 298,621 1,163,513 176,619 59,587 236,206
Net (expenditure)/income
for the year/
Net movement in funds (452,157) 117,867 (334,290) 1,626,927 362,527 1,989,454
Fund balances at
- - -
1,626,927 362,527 1,989,454
1 January 2020
Fund balances at
1,174,770 480,394 1,655,164 1,626,927 362,527 1,989,454
31 December 2020
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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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Balance Sheet
As at 31 December 2020
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2020 2019
Notes £ £ £ £
Fixed assets
Tangible assets 15 10,703 13,546
Investment properties 16 700,000 700,000
Investments 17 29,100 86,700
739,803 800,246
Current assets
Debtors 18 128,079 145,957
Cash at bank and in hand 988,429 1,137,176
1,116,508 1,283,133
Creditors: amounts falling due within one year 19 (201,147) (93,925)
Net current assets 915,361 1,189,208
Total assets less current liabilities 1,655,164 1,989,454
Income funds
Restricted funds 22 480,394 362,527
General unrestricted funds 22 1,174,770 1,591,927
1,174,770 1,626,927
1,655,164 1,989,454
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Statement of Cash flows
For the year ended 31 December 2020
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2020 2019
Notes £ £ £ £
Cash flows from operating activities
Cash (absorbed by)/generated from operations 25 (187,071) 1,936,730
Investing activities
Purchase of tangible fixed assets (2,230) (18,061)
-
Proceeds on disposal of tangible fixed assets (14,440)
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Purchase of investment property (700,000)
Proceeds on disposal of other investments 28,900 (86,700)
Investment income received 26,094 5,207
Net cash generated from/(used in) investing activities 38,324 (799,554)
- -
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents (148,747) 1,137,176
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Cash and cash equivalents at beginning of year 1,137,176
Cash and cash equivalents at end of year 988,429 1,137,176
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Note: The 2019 income of the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £1,003,246, and expenditure was £1,201,274.
The financial statements were approved by the Trustees on 4 October 2021.
Raj Mahapatra, Chair Trustee
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Notes to Financial Statements
As at 31 December 2020
1. Accounting policies
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.
Charity information
National Axial Spondyloarthritis Society is an organisation incorporated in the United Kingdom under the Charities Act 2011. The organisation is a Charitable Incorporated Organisation, registered in England and Wales and in Scotland. The address of the registered office is 172 King Street, London, W6 0QU.
1.3 Charitable funds
1.1 Accounting convention
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
The financial statements have been prepared in accordance with the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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.
Restricted funds are subject to specific conditions by donors 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
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.
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.
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 £.
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.
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.
Notes to Financial Statements (Continued)
As at 31 December 2020
1.6 Tangible fixed assets
1 Accounting policies
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment 25% on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.7 Investment properties
1.5 Expenditure
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
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 allocated on the portion of the asset’s use.
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.9 Impairment of fixed assets
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity’s objectives, as well as any associated support costs.
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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Notes to Financial Statements (Continued)
As at 31 December 2020
1.10 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.
1.11 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity’s balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 noncurrent 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.
1.12 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.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14 Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
2 Critical accounting estimates and judgements
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.
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.
3 Donations and legacies
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
£ £ £ £ £ £
Donations and gifts 131,011 37,019 168,030 1,660,706 369,240 2,029,946
- -
Legacies receivable 120,567 120,567 106,500 106,500
Grants receivable - 16,277 16,277 6,629 - 6,629
Membership fees 50,214 103,790 154,004 13,826 28,935 42,761
Donated services 17,420 - 17,420 - - -
319,212 157,086 476,298 1,787,661 398,175 2,185,836
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Income from donations and legacies in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £619,462. The figure of £2,029,946 in the table above includes the transfer of assets from the unincorporated Society to the Charitable Incorporated Organisation, which totalled £2,014,801, of which £367,276 is for restricted purposes.
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Notes to Financial Statements (Continued)
As at 31 December 2020
4 Charitable activities
| 4 Charitable activities | ||
|---|---|---|
| Restricted funds | Restricted funds | |
| 2020 £ |
2019 £ |
|
| Pharmaceutical industry funded grants | 14,500 | |
| 251,450 |
Income from charitable activities in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £243,052.
7 Other income
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
£ £ £ £ £ £
Job retention scheme 8,048 - 8,048 - - -
Branches other Income - 4,237 4,237 - 6,414 6,414
Other Income 400 - 400 - - -
-
8,448 4,237 12,685 6,414 6,414
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5 Other trading activities
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds funds funds
2020 2020 2020 2019 2019 2019
£ £ £ £ £ £
Fundraising events 58,981 3,715 62,696 10,687 3,025 13,703
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Income from other trading activities in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £100,707.
6 Investments
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Unrestricted funds Unrestricted funds
2020 2019
£ £
Rental income 25,450 14,500
Interest receivable 984 515
26,094 5,207
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8 Raising funds
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Unrestricted Unrestricted Restricted Total
funds funds funds
2020 2019 2019 2019
£ £ £ £
Staging fundraising events 34,391 4,651 1,372 6,023
Staff costs 83,035 7,840 - 7,840
Total fundraising and publicity 117,426 12,491 1,372 13,863
Support costs 33,688 18,976 12,491 18,976
Total cost of raising funds £151,114 31,467 1,372 32,839
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Expenditure on raising funds in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £129,196.
Income from investments in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £29,427.
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Notes to Financial Statements (Continued)
As at 31 December 2020
9 Charitable activities
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Governance Every Patient Connected & Informed and Total Governance costs Every Patient Connected & Informed and Total
costs Every Time Supportive Empowered Every Time Supportive Empowered
2020 2020 2020 2020 2020 2019 2019 2019 2019 2019
£ £ £ £ £ £ £ £ £ £
Staff costs - 187,336 143,132 108,821 439,289 - 35,539 22,636 16,394 71,559
Travel expenses - 5,940 155 356 6,451 - 7,743 474 427 8,644
IT and communications - - - - - - 694 5,280 134 6,108
Office costs - - 1,603 268 1,871 - 8 108 (60) 56
Courier and distribution of
- 32 6,518 694 7,244 - 28 2,779 620 3,427
materials
Literature, brochures and - 57,944 26,080 6,561 90,585 - 317 - 34 351
information
Treatment by healthcare - - - - - -
56,378 56,378 28,841 28,841
professionals
Hire of venue and facilities - 4,924 16,255 52 21,231 - 3,483 3,453 70 7,006
- - - - - -
Other branch payments 8,742 8,742 2,645 2,645
Third party technical - 91,581 15,231 11,305 118,117 - 5,993 812 85 6,890
providers
Total direct costs - 347,757 274,094 128,057 749,908 - 53,440 35,542 46,545 135,527
Support costs 18,927 76,004 58,070 44,150 197,151 27,525 16,076 8,721 6,800 59,122
Grant funding of activities - 20,192 2,008 - 22,200 - 8,613 - 105 8,718
(see note 10)
Total charitable
18,927 443,953 334,172 172,207 969,259 27,525 78,129 44,263 53,450 203,367
activities
Analysis by fund
Unrestricted funds 18,927 229,535 253,953 168,223 670,638 27,525 48,755 44,263 24,609 145,152
Restricted funds - 214,418 80,219 3,984 298,621 - 29,374 - 28,841 58,215
Total 18,927 443,953 334,172 172,207 969,259 27,525 78,129 44,263 53,450 203,367
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Notes to Financial Statements (Continued)
As at 31 December 2020
10 Grants payable
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Grants paid to Grants paid to Total Grants paid to Grants paid to Total
individuals institutions individuals institutions
2020 2020 2020 2019 2019 2019
£ £ £ £ £ £
Every Patient Every Time - 20,192 20,192 250 8,363 8,613
Connected & Supportive - 1,644 1,644 - - -
Informed & Empowered 364 - 364 105 - 105
Total 364 21,836 22,200 355 8,363 8,718
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11 Analysis of support costs
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Every A Connected Empower, Total Governance Fundraising Total Total
Patient and Inform charitable costs costs
Every Supportive and Expenditure
Time Community Inspire
2020 2020 2020 2020 2020 2020 2020 2019
£ £ £ £ £ £ £ £
Staff costs 21,426 16,370 12,446 50,241 3,093 9,497 59,738 8,345
Depreciation 1,819 1,390 1,057 4,267 - 806 5,073 3,788
Other staff costs 5,723 4,373 3,324 13,420 - 2,537 15,957 3,093
Premises costs 22,620 17,282 13,140 53,042 - 10,026 63,068 10,967
Travel expenses 73 56 43 172 - 32 204 1,632
IT and
-
10,900 8,328 6,332 25,561 4,831 30,392 2,132
communications
Office costs 1,974 1,509 1,147 4,630 - 875 5,505 4,673
Conference
1,207 922 701 2,829 - 535 3,364 0
costs
Audit fees - - - - 6,540 - 6,540 5,280
Accountancy 1,076 822 625 2,523 - 477 3,000 10,080
Insurance, legal
9,186 7,018 5,336 21,540 2,660 4,071 28,271 60
and professional
Other
Governance - - - - 9,727 - 9,727 9,072
costs
Total 76,004 58,070 44,150 178,224 18,927 33,688 230,839 59,122
Total 2019 16,076 8,721 6,800 31,597 9,072 18,453 59,122
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Governance costs includes payments to the auditors of £6,540 (2019- £5,280) for audit fees. Governance and support costs in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £271,330.
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Notes to Financial Statements (Continued)
As at 31 December 2020
12 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. In 2020 there were expenses claimed by one trustee.
13 Employees
| The average monthly number during the year was: |
of employees | 2020 Number |
2019 Number |
|---|---|---|---|
| 12 | 11 | ||
| Employment costs | 2020 £ |
2019 £ |
|
| Wages and salaries | 461,270 | 79,477 | |
| Social security costs | 44,586 | 7,991 | |
| Other pension costs | 76,206 | 12,077 | |
| 582,062 | 99,545 |
Employment costs in 2019 for the National Ankylosing Spondylitis Society and National Axial Spondyloarthritis Society combined was £537,872.
The following numbers of staff had emoluments above £60,000.
| Gross annual salary | No. of staff 2020 | No. of staff 2019 |
|---|---|---|
| Between £100,001 - £110,000 | 1 | 0* |
*In 2019, as the National Axial Spondyloarthritis Society was only operational for two months, no staff had an emolument in excess of £60,000. In 2019, the gross salary of the CEO for the National Ankylosing Spondylitis (January – October) and then National Axial Spondyloarthritis Society (November – December) was £100,000.
14 Other
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Unrestricted Restricted Total Unrestricted
funds funds funds
£ £ £ £
2020 2020 2020 2019
- -
Net loss on disposal of tangible fixed assets 14,440 14,440
Revaluation loss on investment 28,700 - 28,700 -
- -
43,140 43,140
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15 Tangible fixed assets
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Office equipment
£
Cost
At 1 January 2020 18,061
Additions 2,230
At 31 December 2020 20,291
Depreciation and impairment
At 1 January 2020 4,515
Depreciation charged in the year 5,073
At 31 December 2020 9,588
Carrying amount
At 31 December 2020 10,703
At 31 December 2019 13,546
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In 2020, the gross salary of the CEO was £100,431.
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Notes to Financial Statements (Continued)
As at 31 December 2020
16 Investment property
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2020
£
Fair value
At 1 January 2020 and 31 December 2020 700,000
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Investment property comprises residential flats let. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the trustees. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
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2020 2019
£ £
Freehold - -
Long leasehold 700,000 700,000
Short leasehold - -
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17 Fixed asset investments
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Unlisted
investments
£
Cost or valuation
At 1 January 2020 86,700
Revaluation (28,700)
Disposals (28,900)
At 31 December 2020 29,100
Carrying amount
At 31 December 2020 29,100
At 31 December 2019 86,700
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18 Debtors
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2020 2019
Amounts falling due within one year: £ £
Trade debtors 6,458 114,236
Other debtors 116,500 15,052
Prepayments and accrued income 5,121 16,669
128,079 145,957
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19 Creditors: amounts falling due within one year
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2020 2019
Notes £ £
Other taxation and social security 22,241 13,396
Deferred income 34,925 30,000
Trade creditors 76,930 14,159
Other creditors 26,469 11,710
Accruals 40,582 24,660
201,147 93,925
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The fixed assets investment are two statuettes gifted by Dame Elisabeth Frink.
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Notes to Financial Statements (Continued)
As at 31 December 2020
20 Deferred income
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2020 2019
£ £
Arising from grants 33,750 30,000
Other deferred income 1,175 -
34,925 30,000
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21 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £76,206 (2019: £12,077). An amount of £8,937 (£6,136 in 2019) was payable to the fund at the balance sheet date and is included in creditors.
22 Statement of funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
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Statement of funds
Balance at Incoming Resources Balance at
1 January 2020 resources expended 31 December
£ £ £ 2020 £
Unrestricted Funds
General funds-all funds 1,626,927 412,735 (864,892) 1,174,770
Restricted Funds
Branch funds 268,862 115,844 (80,219) 304,487
Branch Development Fund 5,211 - (84) 5,127
Fergus Rogers Fund 2,416 - (364) 2,052
Aspiring to Excellence 86,038 122,500 (84,918) 123,620
APPG - 12,272 (12,272) -
Cimzia Select Programme - 150 - 150
-
National Lottery Fund 9,750 (4,713) 5,037
- -
Ophthalmology/Gastroenterology project 9,205 9,205
- -
Self management programme 13,962 13,962
COVID-19 - 17,828 (14,287) 3,541
Gold Standard - 98,700 (97,242) 1,458
Good Boost - 16,277 (4,522) 11,755
362,527 416,488 (298,621) 480,394
Total of funds 1,989,454 829,223 (1,163,513) 1,655,164
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Notes to Financial Statements (Continued)
As at 31 December 2020
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Statement of funds prior year
Incoming Resources Balance at
resources expended 31 December 2019
£ £ £
Unrestricted Funds
General funds-all funds 1,803,546 (176,619) 1,626,927
Restricted Funds
Branch funds 301,720 (32,858) 268,862
-
Branch Development fund 5,211 5,211
-
Fergus Rogers fund 2,416 2,416
Pharma industry funded 112,767 (26,729) 86,038
422,114 (59,587) 362,527
Total of funds 2,225,660 (236,206) 1,989,454
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23 Analysis of net assets between funds
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds 2020 funds funds 2019
2020 2020 2019 2019
£ £ £ £ £ £
Fund balances at
31 December 2020 are
represented by:
- -
Tangible assets 10,703 10,703 13,546 13,546
- -
Investment properties 700,000 700,000 700,000 700,000
Investments 29,100 - 29,100 86,700 - 86,700
Current assets/(liabilities) 434,967 480,394 915,361 826,681 362,527 1,189,208
1,174,770 480,394 1,655,164 1,626,837 362,527 1,989,454
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24 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
NASS has 12 restricted income streams, the largest of which represents the funds of our national network of branches. We also have funds to support branch development and funds to provide small welfare grants. We received grant funding from pharmaceutical companies and charitable trusts which support our larger programmes. In 2020 we also received grants to support COVID-1 9 support work.
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Notes to Financial Statements (Continued)
As at 31 December 2020
25 Cash generated from operations
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2020 2019
£ £
(Deficit)/surplus for the year (316,400) 1,989,454
Adjustments for:
Investment income recognised in statement of financial
(26,094) (5,207)
activities
-
Loss on disposal of tangible fixed assets 14,440
Revaluation loss on investment 28,700 -
Depreciation and impairment of tangible fixed assets 5,073 4,515
Movements in working capital:
Decrease/(increase) in debtors 17,878 (145,956)
Increase in creditors 102,297 63,924
Increase in deferred income 4,925 30,000
Cash (absorbed by)/generated from operations (187,071) 1,936,730
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We don’t.
26 Analysis of changes in net funds
The Charity had no debt during the year.
27 Operating lease commitments
At 31st December 2020 the charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
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2020 2019
£ £
Not later than 1 year 22,750 22,750
Later than 1 year and not later than 5 years 17,062 39,812
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NASS Annual Report & Accounts 2020
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National Axial Spondyloarthritis Society
172 King Street, Hammersmith, London, W6 0QU
Helpline & General Enquiries 020 8741 1515 Membership & Events 020 3011 5133 Email: admin@nass.co.uk Website: www.nass.co.uk