CASTLEPINES MEDICAL FOUNDATION rAuD I HININUHI <tVUF<1 2U2, Castlepines Medical Foundation
CASTLEPINES MEDIC POUNts4m0Tr4 Table of Contents CHAIRMAN'8 FOREWORD....-....................-..-..............-....... . INTRODUCTION............-........................ 2024 OVERVIEW...........-......--. . Focus........................................................ CHALLENGES............................................... IMPACT.....................................................................- .- FINANCIAL OVERview.....................--........................ GOVERNANCE AND PAANAGEMENT._.............................................. ... . .. . FUTURE PLAN8..................................-............ APPENDIX 1: FINANCIAL SUMMARY.-. APPENDIX 2: ANNUAL ACCOUNT8................-.......
"CASTLEPINES IEcAL FOL1Tr4DAfOW Trustees Annual Report 2024 For the period from 1st January 2024 to 31# December 2024 Charlty name: Cutlgpines Medlcal Foundatlon Charlty reglstratlon number: 1187050 Charlty address: 36 Pall Mall. St Jamu's. London. SW1Y 5JN Trustee8: All Trustees acted for the whole year. David Grose. Chairnn Neil Carpenter, Secretary Stsnley Shepherd, Treasurer Tafadzwa Mugwagwa Ken Ralston Chairman's Foreword It was impressive to see how much the charity was transfomied In 2023 and vrfas poised in 2024 to benefit from the foundations laid in 2023. Unfortunately by 2024 donors were much harder to find and were scarcer stlll for a rolativa startup chgrity. Consoquontly Kvo had no option but to paus• our activitlO8 and to release our CEO in AFXII 2024. On beha of all the Trustees I would like to thank our CEO, Louise Normand. for her dedication and contribution on behalf of the charity and her instilling high standards of govemance. The strong desire among the trustees remains to athieve our dedared objective: The advancement of h8alth and relief of suffering. principally from non- commurlicable diseases and long tenn chmnic illnesses such as high blood pressure, hypertension, cardiovascular. coronary heart disease and diabetes to countries in Africa, through improving access to medicines, therapies and health SeiCe$ where there is no adequate pmvision of these serrfiGes to vulnernble children and adutts We can and we will rise again.
"CASTLEPINES EDIC*L FOUNtwTrow Introduction Castlepines Medical Foundation (CMF) was set up in 2019 to address widespread mediane shortages for chronic non-communicable diseases (NCDS) in Africa. The charity was restarted in 2023 following two years of low activity, resulting directly from COVID-19 related risk aversion by UK banks and restrictions on intemational travel. We transfomied the charity during 2023 and into 2024 with new govemance, and focused objectives. There were multip18 visits to Zimbabwe in which we established a wide network of contacts. Our mission was warnily welcomed by all the stakeholders we met. However post COVID raising fvnds became significantly more challenging as th&r8 were less funds available and it was drfficult for a relative start up charity to secure nitial eady funding. Potential donors were much less likely to fund in the absence of a track record. though we had a confirmed donation of signfficant quantits'es medicines we were still un8ble to raise funds to utilise those medicines. Despite the transformation of the charity through 2023 and into 2024, ultimat8ly when our launch donation was used up, albeit carefully and wisely. and no further donations were achieved, we had no option other than to let our CEO go as the only employae in April 2024 and pause our activities while we reviewed further funding optlons. We are paused but we are not finlshed. 2024 Overview Focu5 Having spent 2023 transfoming the charitys govemance and organisation, 2024 was set to raise further funds in addition to the generous Launch Donation of £161,294. Activities Q1: Launch Loan to Launch donatlon On 18t February 2024 the donor of the Launth Loan offered to )nVert the Launch Loan in its entirety to an unrestricted Launth Donation, so leawng the Charity debt free. This was r8POrt8d to the Truste8s at an Emergency Board Meeting on 51h February 2024. This generous offer was gratefully received by the Tntees, rendering the charity debt free.
"CASTLEPINES MEOICAL FOUNDAnQN During early 2024 the CEO continued her fund raising efforts. However. the common response was that donors were alk)cating their funds to charities with a track record. Despite the thorough ground work done by th8 charity in 2023 and 2024 including all the on-site visits to Zimbabwe, meetings with key stakeholders plus the thorough and powerful analysis of their needs being o)mbined into a credible strategy and project, of efforts, as a relative start-up we found no donors ready to fvnd our project, even though they a¢knoledged the strategy and projects . Challenges It beGqme clear during the first quarter of 2024 that the charity would not find a new donor or their funds before the Launch Donation was fully used up. This was despite a confirrned offer to suppty a range of free medicines to the Charity for distribution in Zimbabwe. Impact The Charity did not find a new donor to continue our work into 2024. We were cons8qU8ntly unabl8 to measure a tangible impact for our beneficiaries. The Charlty had no optlon but to let go its one employee, CEO Lou Nonnand. Financial Overview The accounts show a total Donatlon income of £48,451 against an expenditure of £48,514. During this period, charitsble expenditure was funded exclusively through an extension of the unrestricted Launch Donation from the charity's founder and Chaimian. Full details of income and expenditure are outllned at the end of this report in our financial ststements (Appendix 1) and accounts (Appendix 2). Incom• Between 1st January and 319t Decemb8r 2024 the charity did not receive income from any source other than the Launch Donation of £48,451. Expenditurn Durlng 2024 the Charity's expenses totalled £48.514.76. The principal expense was the salary of the CEO. totalling £15,9)1.76 (net), plus employer pension contributions of £1.343.46 The CEO conducted one visit to Zimbabwe. Travel and accommodation exp8nses totalled £879.72.
"CASTLEPINES FOUNgATrOP4 Due to significant delays in receiving the PAYE reference number from the contracted payroll service provTrder beyond the control of the tharity. tax and NIC contributions could not be paid to HMRC for the year ending 3151 Dember 2023. A repayment plan was agreed with HMRC for the sum of £29,016.50, including inter8St, and was completed in 2024 to the satisfaction of HMRC. Loans and debts At the start of 2024 the Launth Loan stood at £112.843.19 On 1 St February 2024 the donor of the Launch Loan offered to convert the Launch Loan in its @ntirety to an unrestricted Launch Donation, so18aving the Charity debt free. This was reported to the Trustees at an Emergency Board Meets'ng on 5th February 2024 and gratefully accepted. During 2024 a further £48,451.53 was donated to the charity as a continuation of the Launch Donation and used tt) pay for 2024 launch activity exp8ns8S. At the end of 2024 the total Launch Donation stood at £161,294.72. Governance and Management There were no changes to the structure of the Trustee Board, which is comprised of 5 members including an appointed Chair, Treasur8r, and S8cr8tsry. The charity had one employee (CEO Lou Normand) and no volunteers joined tha team. Board m••tlng$: There were three board meetings in 2024, all of which were quorate. Constltutlon: There were no changes to the Constltutlon durlng the year. Future Plans In 2024 had intended to launch both aspeds of Project Zambezi. strengthen financial resilience, and to expand our team so that we can increase the reach of our Ille-savlng work. However, these plans were put on hold due to the availability of funds.
"CASTLEPINES MEDICAL FOUNDAMO Appendix 1: Financial Summary A summary of the Launch t)onation and expenses for 2024 is set out in the table below. Allln£ Loan Ex enses Launch Donation Funds received in 2024 48,451.53 Expenses Sala Travel and accommodatl¢)n Alllanz Health Insurance NEST Penslon Irls Pa roll service5 HMRC Re ment Plan Total expenses 115,901.76 1879.721 1873.60 11,343.46 1499.721 29,016.50 148,514.761 Bank balarKe 31 Dec 24 Launch Loan Donatlon balance Loan Loan At end 2022 At end 2023 At end 2024 72,116.94 112,843.19 161,294.72 Donation The Charity's cash flow was managed as follows: as upcoming expenses were Idontifiod, and b•for• th•y b•¢am• du•. the donor paid into thg Ch8rity'g bank account the necessary funds to meet those expenses. Note that On 1 st February 2024 the donor of the Launc* Loan converted the Launch Loan in its entirety to an unrestricted Launth t)onation, so leaving the Charty debt
"CASTLEPINES MEDICAL FQUNPATrON Appendix 2: Annual Accounts 4kn>)24 ¥iZL7Jlb p• ¥tt7J• nats ¥Mr1i4 Mv¢ Mdy¥44 li% rYAA IYID *¥424
Ch•rtty P44vhWJ•r. 1187060 Cagtleptne8 •dIcal Foundatlon FIPIAKLIL 8TATSSEp&f8 FOR THE YEAR EIOED 31 DECEDA CHARLes 08EI, &8¢,1198¢, FCIE, RKIPP. AF& ATA CHARifi IklDEPEIIDEPaT EXARqItIER IACCOUWYAiir FLAT 3, 11 RLKHDALE WAY LoD0 SE8 4LY
Castleplnes Medlcal Foundallon Reglstsrod Charlty No. 1187060 PORT AND FINANCIAL STA FOR THE YEAR ENDED 31 DECEMBER 2024 Page Legal and Administrative Detslls Independent Examlnefs report Balan&8 Sheet StatenI of Financial ActNities &8 Notes to the Aco)unts
Castleplnes Medical Foundatlon R¢glstered Charlty No. 1187050 ORGANI ATIONAL PROFILE FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Chair Neil Carpenter Secretary Stan* Shepherd Treasurer Tafadzwa Mugwagwa Ken Ralsion REGISTERED OFFICE: 36 Pall Mall St James's LoTrJon SW1Y 5JN BANKERS: Wl8e paYnts Ltd. 1st Floor. Worship Square 05 Cllfton St( London EC2A 4JE ACCOUNTANTS: Chartes Osei. BS¢ Ikk)ns), MSC. FCIE. AFA, ATA. MCIPP Flat 3, 11 R(hda Way. D8ptford London SE8 4LY Pagg 1
Castlepines IAodical Foundation Reg18tsred Charlty No. 1187000 INDEPENDENT EXAMINER'S RE NTHER NCIA STATEMEN TO THE TR TE OF CASTLEPINES MEDICAL FOUNDATI I report on the finandal 8tatements the year •ThJ•d 31 Demb¥ 2024 Set out on po988 4- 11. This r•Fort is made to the Tnjstees of Ca8leplnes Modical Foundallon, 88 8 W, In aCCordare wth regulations made under se(#ion 145 of the Charities Act 2011 and Charity SORP. My work has been undertgken so Ih8t I mIt state to the Trustees matters l am required to state to them in an independent Examinerfs report and for no other purpose. To the fv1Sest extent permltted bylaw, I do not accept or assume re8pon81blltty to 8nyon6 othw than the Charrty and Charws tru81e88 lor my Independent examination work. for this rwrt, OT for the statement I have givgn below. R••p•Gtlv• r••ponslbllltle• of Tru8teo• •nd Indgp•ndont oxamln•r A8 chathy tru81•88 of tho ¢xganisatk)n and for ts puryxx88 of tharlty law. aro ro8pon8ibl• for the preparatlon of the finantsal ststomenls, the Truslees consider that an 8udit is not requiredfor thi8 year under section 144121 of the Charrtes Act 20111th8 A¢tl ond Part 16 of tha 20CI8 A¢t. and th•1 on Indopondonl examination 18 needed. I report In ffj8pe¢l of my ox8mlnthn oftho Ch8rW8 ac(xxmts ouL'. al examine the accounts under aethon 145 of the 2011 Act,. bl follow the procedures18id dcA4n In Ihe general DirectioM gfven by the Charty Comm183lorws undor s•¢Yon 14515){b) of the 2011 A¢t.' and ¢1 $tst• vth•lhor particular mattor8 hav• to my ott•nllon. B•l• of Ind•pond•nt frx•mln0rf8 •tat•m•ni My examln8tlon was carried ¢Jrt In a&Tence vAth the gewal DireLon8 gwen by the Charfty Commlssion. An oxamination indud¢$ a review of the ac£ounting rec$ kept by the Charlty. and a comparison of the accounts preserrted with those reo)rds. It also indud•$ o)n8idèration of any unusual itoms or dI10$Ur•S in the accounts and seeking exan'0n3 from you as Trusto0s contAming any such matters. The procodures undertoken do not provide all the evidence thatwwhj te required in an audit, and consequently no opinion is given a$ to whether the a¢cwnts present a Irue and fair vievf and the repcxts Ilmited lo those matters set out In the statement on the next page. Paje 2
Gtstlepines Medkal Foundallon Register•d Charlty No. 1187050 EPE THE TR NT STEE MIN Fl ANCIAL TATEMEN TLEPINES Independent ex•mlnerf• 8tatem•nt In connectlon my 8xamlnath)n. no matter h88 com• to my attentton.. l) which gives me roa8on8tle to bditive that in material resp8ct the roquiremenls I to keep accountlng re¢d8 In accordarKe Se¢Yon 130 of th• Ch8rllfio8 A(a'. and bl to prepare IAUnts whlth with Ihe actounting records and compty with the accounting requlrements of ts CharltiesAct hava not trn m•t.' or 21 lo whlch, In my oplnlon. 8ttenlM Should be dra*n In otder to onable a prwr understandlng of the Charles 08ei, Bsc IHonsl, MSC, ACIE. AFA, ATA, MCIPP Fl813, 11 R¢¢hdale Way Depfford London SE8 4LY L)ate 12111r2025 Pe3
Castleplnas Medlcal Foundatlon Reg18tsred Charlty No. 1187050 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 FIx8d Assets Current Assets D8btors Cash at Bank and In hand Creditors Amunt du8 vthhlnoone Year Other Creditors Net AssetslLKqbilitie$ Ro8erve8 General Funds Restrfcted Fund8: The financial statements VI approved by the Board of Trustees and aulhorised for issue on
l.tr...Q.4•.-...........8rKl wer8 Sbgned on its behaN by". Trustse Page 4
Castleplnes Medlcal Foundath)n Ro918torod Charlty No. 1187050 STATEM NT CIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Notw d Fund• Fund• Funds Incomlnq R•8ourc•• Donations 48,452 Research Grant Repayment Othor Income Total Incom• 48,452 Exp•ndltur•: Resourcces expended 48,516 48.516 Ralsing Funds Totsl Exp•ndttur• 48,516 48,518 Ro•our¢•8 r•taln•d lor fvrth•r u•e (64) (64) Tranth b•tw••n Fund• Not 0M•nI In Fund8 Ro¢on¢lllatlon8 of Fund• Brought fon¥ard 0110112024 69 Carriod forward 31M2f2024 The company made no recognis*J and ks6es other than ltrb)se rew1ed in the income and expenditure Unt PwJe 5
Ca8tleplne8 PAleA1 Foundation Reql•t•rnd Chartty No. 1187050 cc FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountlng Poll¢l B••l• of The3e xwunts Iwe been on an &uual tsa5 8TrJ ir[th and eyperJiture as Ihoy ara •am8d or rurred. rather than as cash re1Ved or pad. ReforenL to Ihe fharil]88 SQRP" rgferB to the Charito$ SORP IFRS 1021.. AccountiThJ 8ThJ ReFJts"ro by Chanls'. Ststement of R•CUn Pra(ce ppicaN8 to char¥6 kryaorvj thr acwjrts in a0rae V+ilh the Fin1 R8wts'ro SlaThJard PkIicae in the UK ènd Wublic of I[BrI. 2rY 1 January 2019. la. Ineom• l incom& o f¢ctswi8ed orKe the Chwity Iws entivet to ts iTrxvno. it 15 wcabl8 Ihattha in¢JTh I11 b? rèc&v•d, or#J thtr offlountof irKorr recoivJkn cw t moasured rdiatrAy. Grants ar• in the Statwnert of finan1> ba8rd. Th balanc of iro)m• rec4tved for spgofi¢ wrpo8•s tsA not exploTrJ dviirrfd thè n1>y 18 8lw in the rdevant fuThJs on Iha BAlane• Shtot. Whoo income 15 recwved •Jv¥nc• 0fentiIknnt of r•c•ipt. ils recogNbon is d•n And IndudBd in crgJitorB as incrrn. wre Cr1¥ tel ir(0 is rac8N8d. the in¢om& 1$ ac£nbJ. In¢om& tsx recfftrabb in rolalth to deall0n8 wthrGrfIAKI daJI of nant i8 re¢>)gn45•J at th Jrn• ol donabon. r¥calvgbl¥. Launch LrAn Th& Launch Loan interest fre8 wlh no fiThJ ts. RepayTnW8j at 8TrJ in nOUnts detem7id by the tNBts¢$. On 18t Febnjary 2024 the donorol th8 LaurK Loan the Laund) Loan in ts on[ty to an unrestrtcted LaUrh DonaJon, go th8 Charlty d8bt frw. Tru8tee$ do not dairn trav•1 or0tlre¥p•n10s. 1b. ExpondIr• ExF4ndilure 1$ rn1 onc¢ thorty 8 Wl eA Obl to tr8rfereconomic b8n8fft to ird p8rty. it 18 possknle that • tronsfer of8r¢ t•wfrts will in satsm&nt And Amouftt of ¢ obligation cgn t¢ r¢li. Exp8nditur• on chafttsbb a¢kn"t• L8 on dlr& uTrJ8rtakiTrJ th8 •X¥llle8 ftjrthortho Ch&rity$ I1ve8, as any 8880cl sup1tLy. All •xp•nditur• is IUl1 ol IrT•rrnvnbh VAT. 1¢. Gowrnm•nt gr•nts Govemm8ntgr8nts ar• crndlt8d to the StatoffMriaj al¥15 as thB rel8twJ oyndthro 1$ intrred. Id. Fund •eeountlng spe¢ifjed puse a woilable ag gwwal fuTra5. Restricted Funds are subed to resthctiuB their eXdthre imkvjsed by donor. Designated Funds are unre8tnct&l but e8nnark&J by thè trusta&s for p&t"¢lar pu8. Pw6
Ca8tl•plnes Modical Foundatk)n R•ghtsrnd Charfty No. 1187050 OTE FOR THE YEAR ENDED 31 DECEMBER 2024 1•. Taxallon Chanty 1$ con$Klèr•Y to P83s th& t•sts set wt in ParyaFth 1 Scltsjulè 6 oftrhe Financa Act 2010 8rKI tPrgfcKe il m88ts ts d¢finitk ofa canWo ctsnpgny for UK cOr¥i0n lax purpc4•9. Ac£ordir¥Jly. t Charity is potsnt81ty gXWllPt frcffj laxabon in re¥Ax of inccffie cf gains wived tegor8 r))vwed by Chaptsr 3 Part 1101 fv CtyrorJn Tax ALt 2010 cr Sec 256 ofts Taxation of Chgrgtrabkl Gains Ad 1992. to th8 extent Ihat sh irwno or aFfJli8d •xdusNOly to caritatdo PLMPOSOS 1f. D•bior• TrJ& and other d8bt(¥B • r•¢yknod atts Mluom8ntOLrt Ar• valu•J At •nount pyopald. 1$ Ca•h at b•nk •nd In hnd Cash at bank and in haThJ indu(s ¢8sh f4)d slyt-twm hvJNy Invosbnents vith a 81 maturtty ofthro rnonths or fr¢m tho date of c c¢w¥rwg oflh• daF1t0[ Ih. Ll•blll¥•• and provknlM• 'Bbilts'e6 ara r8eogni thwo i8 an •tlh• slwtdate a8 a r•suf( of 8 Past event, it prObae that a trarwfer ofocorK¥n b11 bo BOtlbwW omount ofthg $01118m•nl can b• 98tlm8tsd fft118bty. Uabllfa"w ar• r•c4nisJ at tho that Cllty nlbc#kn8 p10 ty• debt orth• •mount rt wivtsa as payftts fty lh& or 8er¥lrM It mu8t provbjo. ProvWon$ ar& aSUr• at tho t¢st •sbrnate ofthe rnnts r•4uirnJ to s•tU• ¢4)IytJn. Whw• tr off8Ct of th• ts'me value of rnorw * matsri•l. b88&J on tho pregont vduo of Ount8. di8cowtsd at th• Pffrt4x dijcount r8ta Ihat r•fi8cts th• rlsks $p&>fi¢ tts the haLlity. uTtThalrj of the dl8COWt L8 f•cLwnW in StatemrtoffinaM481 11. Flnancl•l In•truM Chwbty only h88 fin11 8868ts fir11 I"1 of • kind Ihatwalfy M bABlc flngndAI inAtrum•nts. 8•6ic fina11 instrLtm8nts 8r¢ Initlty reco3rwwl at tran8Kcffi Val meaBur&J at th•lr 8etUorn•nt valu8 vAlh th• ox¢opts' of banklogns V+tiwth arn m$awj at arrKJrts"s&l $t u$1 the effective int•rwt n*K¥J. dudiw ewtatons offtrtur• that are belEv&J to te reasonth uThl8r lh& orMStar$. Tr Charoty 1k. Tanglbk Flx•d A¥ts Equipment and othèr tsn91 a88etS Wo r•aliswJ cfffjt Is £5tX) or nrty gstirnated usefvl lif•. Computer
Castleplnu mlCa1 Foundation R•g18tergd Charfty Ilo. 1187050 THE FOR THE YEAR ENDED 31 DECEMBER 2024 2 ROur* Exp•nd•d 2024 2024 2024 Salary Employee Penslon Employee Health Insurance Employee Travel. Accomrnodauon and Subslstence Payroll Services Income Tax and NIC Total resour¢¢s •xp•nd•d 15.gT2 15,902 874 874 880 500 29.017 48,516 48.618 2024 3 C••h at 8•nk Ind In Hand