MASTICATIONPEDIA
Annual Report and Financial Statements For the Year Ended 31 December 2021 England and Wales Registered Charity Number 1188753
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MASTICATIONPEDIA
ANNUAL REPORT AND FINANCIAL STATEMENTS
CONTENTS
| Contents | 2 |
|---|---|
| Charity information | 3 |
| Trustees annual report | 4-5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9-12 |
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MASTICATIONPEDIA
CHARITY INFORMATION
For the Year Ended 31 December 2021
Registered charity name
Masticationpedia
Charity registration number 1188753 Charity Commission England and Wales
Principal office IBC Rex House, St James’s 4-12 Regent Street London SW1Y 4PE
Trustees Gianni Frisardi Michele Fella Flavio Frisardi
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MASTICATIONPEDIA
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report and accounts for the year ended 31 December 2021. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the Statement of Recommended practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard FRS 102 (Charities SORP (FRS102)) issued in 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The affairs of Masticationpedia are governed by the Trust Deed dated 23 October 2019. The charity is managed by a board of trustees. In the year ended 31 December 2021, the following persons served as trustees:
Gianni Frisardi Michele Fella Flavio Frisardi
OBJECTIVES AND ACTIVITIES
The objective of Masticationpedia is to advance the education of the public in general (and particularly amongst scientists) on the field of neuroscience of the masticatory and oral system and to promote research for the public benefit in all aspects of that subject and to publish the useful results.
The charity operates in medical research, having its outset in dentistry; the general starting scheme is about the need for an organised activity of research in the field of the neurophysiology of the masticatory system.
No grant was received from any government organization.
FINANCIAL REVIEW
The donation receipts are expected to increase in the next year.
RISK MANAGEMENT
The charity takes robust steps to manage the risks involved in achieving of its aim and objectives. The Board of Trustees reviews significant risks, and makes sure that they are taking appropriate measures to manage and reduce their impact. Managers manage resources, monitor performance and have also established, and manage, an effective internal control environment. This is supported by systems, processes and procedures.
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MASTICATIONPEDIA
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
PUBLIC BENEFIT
The charity develops strategic plans to make certain that we provide maximum public benefit and achieve our strategic objectives, which fall under purposes defined by the Charities Act 2011.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
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 accounting 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;
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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 adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 and the Charity (Accounts and Reports) Regulations 2008. 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.
IBC Rex House, ST James’s 4-12 Regent Street London SW1Y 4PE
Signed on behalf of the trustees
Date: 07[th] July 2022
Gianni Frisardi
Trustee
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MASTICATIONPEDIA
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| Note | £ | £ | £ | £ | |
| INCOME AND | |||||
| ENDOWMENTS FROM: | |||||
| Donations and legacies | 2 | 4,973 | 5,514 | 10,487 | 7,086 |
| Investments | 3 | - | - | - | - |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| TOTAL INCOME | 4,973 | 5,514 | 10,487 | 7,086 | |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| EXPENDITURE ON: | |||||
| Raising funds | - | - | - | - | |
| Charitable activities | 5 | (4,593) | (6,654) | (11,247) | (4,906) |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| TOTAL EXPENDITURE | (4,593) | (6,654) | (11,247) | (4,906) | |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| NET INCOME/ | |||||
| (EXPENDITURE) | 380 | (1,140) | (760) | 2180 | |
| OTHER RECOGNISED | |||||
| GAINS/(LOSSES) | 4 | (204) | - | (204) | (24) |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| NET MOVEMENT IN FUNDS | 176 | (1,140) | (964) | 2156 | |
| RECONCILIATION OF | |||||
| FUNDS: | |||||
| Total funds brought forward | 336 | 1,820 | 2,156 | - | |
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ------------------------------------- | ||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 8,9 | 512 ===================================== |
680 =============================================== |
1,192 =============================================== |
2156 ===================================== |
The Statement of Financial Activities includes all gains and losses in the year.
All of the above amounts relate to continuing activities.
The notes on pages 9 to 12 form part of these financial statements.
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MASTICATIONPEDIA
BALANCE SHEET
31 DECEMBER 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| CURRENT ASSETS | ||||
| Debtors | 6 | - | - | |
| Cash at bank and in hand | 1,192 | 2,156 | ||
| ------------------------------------- | ------------------------------------- | |||
| 1,192 | 2,156 | |||
| CREDITORS: Amounts falling due within one | ||||
| year | 7 | - | - | |
| ------------------------------------- | ------------------------------------- | |||
| NET CURRENT ASSETS | 1,192 | 2,156 | ||
| ------------------------------------- | ------------------------------------- | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,192 | 2,156 | ||
| ------------------------------------- | ------------------------------------- | |||
| TOTAL NET ASSETS | **10 ** | 1,192 | 2,156 | |
| ===================================== | ===================================== | |||
| FUNDS OF THE CHARITY | ||||
| Restricted income funds | 9 | 680 | 1,820 | |
| Unrestricted income funds | 8 | 512 | 336 | |
| ------------------------------------- | ------------------------------------- | |||
| TOTAL CHARITY FUNDS | **10 ** | 1,192 ===================================== |
2,156 ===================================== |
These financial statements were approved by the Board of Trustees and are signed on their behalf by:
Gianni Frisardi Trustee
Date: 07[th] July 2022
The notes on pages 9 to 12 form part of these financial statements.
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MASTICATIONPEDIA
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | (760) | 2,180 |
| Adjustments for: | ||
| Foreign currency gains/(losses) | (204) | (24) |
| Other interest receivable and similar income | - | - |
| Changes in: | ||
| Trade and other debtors | - | - |
| Trade and other creditors | - | - |
| ---------------------- | ---------------------- | |
| Cash generated from operations | (964) | 2,156 |
| Interest received | - | - |
| ---------------------- | ---------------------- | |
| Net cash from operating activities | (964) | 2,156 |
| =============== | ============== | |
| Net increase in cash and cash equivalents | (964) | 2,156 |
| Cash and cash equivalents at beginning of year | 2,156 | - |
| ---------------------- | ---------------------- | |
| Cash and cash equivalents at end of year | 1,192 | 2,156 |
| =============== | =============== |
The notes on pages 9 to 12 form part of these financial statements.
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MASTICATIONPEDIA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland FRS102 issued in 2019, and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
a) Funds structure
The charity has restricted and unrestricted funds. Restricted funds are categorised as restricted based on the donors’ restrictions on the projects for which they must be used.
b) Income recognition
All income is recognised once the charity has received the funds, except any Gift Aid receivable relating to the current year which was received after the year ended. The Trustees consider this to be the appropriate and prudent principle.
c) Expenditure recognition
Expenditure is recognised when the funds have been disbursed. The charity follows a strict evaluation and approval procedure for charitable expenditure and funds are disbursed immediately upon approval.
2. DONATION AND LEGACIES
| Unrestricted | Restricted | Total Funds | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |||
| £ | £ | £ | £ | |||
| Donations | ||||||
| Donations | 4,973 |
5,514 | 10,487 | 7,086 | ||
| Gift Aid | - | - | - | - | ||
| ------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ------------------------------------- | |||
| 4,973 | 5,514 | 10,487 | 7,086 | |||
| ===================================== | =============================================== | =============================================== | ===================================== | |||
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 2021 | 2020 | |||
| £ | £ | £ | £ | |||
| 3. | INVESTMENT INCOME | |||||
| Bank interest income | - | - | - | - | ||
| ------------------------------------- | ------------------------------------- | --------------------------------- | --------------------------- | |||
| - | - | - | - | |||
| ================================= | ================================= | ========================== ======= | ========================== |
|||
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MASTICATIONPEDIA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
----- Start of picture text -----
|||||
|---|---|---|---|
|UnRestricted Total Funds|Total Funds|
|Funds 2021|2020|
|£|£|£|
|4.|OTHER RECOGNISED GAINS/(LOSSES)|
|Foreign currency losses|(204)|(204)|(24)|
|-------------------------------------|--------------------------------- ---------------------------|
|(204) (204)|(24)|
|=================================|========================== =======|==========================|
----- End of picture text -----
This represents foreign currency gains arising on restatement of bank account movements and balances denominated in Euros to UK Pounds sterling.
5. CHARITABLE ACTIVITIES
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Total Funds|Total Funds|
|Funds|Funds|2021|2020|
|Charitable expenditure|1,713|6,654|8,367|2,156|
|Governance costs|2,880|-|2,880|2,750|
|-------------------------------|--------------------------|-------------------------------|-------------------------------|
|4,593|6,654|11,247|4,906|
|=============================|==========================|===============================|===============================|
----- End of picture text -----
6. DEBTORS
----- Start of picture text -----
||||
|---|---|---|
|2021|2020|
|£|£|
|Gift Aid receivable|-|-|
|Other debtors|-|-|
|-------------------------------|-------------------------------|
|-|-|
|===============================|===============================|
|CREDITORS:|Amounts falling due within one year|
|2021|2020|
|£|£|
|Accruals|-|-|
|-------------------------------|-------------------------------|
|-|-|
|===============================|===============================|
----- End of picture text -----
7. CREDITORS: Amounts falling due within one year
8. UNRESTRICTED INCOME FUNDS
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Balance at|Incoming|Outgoing|Balance at|
|31 Dec 2020|resources|resources|31 Dec 2021|
|£|£|£|£|
|Unrestricted funds|336|4,973|(4,797)|512|
----- End of picture text -----
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MASTICATIONPEDIA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 9. RESTRICTED INCOME FUNDS
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 31 Dec 2020 | resources | resources | 31 Dec 2021 | |
| £ | £ | £ | £ | |
| Research | 1,820 | 5,514 | (6,654) | 680 |
10. SUMMARY OF ASSETS AND LIABILITIES OF EACH CATEGORY OF FUNDS OF THE CHARITY
| THE CHARITY | ||||
|---|---|---|---|---|
| Unrestricted | Restricted |
Total | ||
| Funds | Funds | Funds | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Debtors | - | - | - | |
| Cash at bank and in hand | 512 | 680 | 1,192 | |
| Creditors (falling | ||||
| due within one year) | - | - | - | |
| ____ | ____ | ____ | ||
| Net assets | 512 | 680 | 1,192 | |
| ____ | ____ | ____ | ||
| Unrestricted funds | 512 | - | 512 | |
| Restricted funds | - | 680 | 680 | |
| ____ | ____ | ____ | ||
| Total charity funds | 512 | 680 | 1,192 | |
| ____ | ____ | ____ | ||
| Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||
| 2020 | 2020 | 2020 | ||
| £ | £ | £ | ||
| Debtors | - | - | - | |
| Cash at bank and in hand | 336 | 1,820 | 2,156 | |
| Creditors (falling | ||||
| due within one year) | - | - | - | |
| ____ | ____ | ____ | ||
| Net assets | 336 | 1,820 | 2,156 | |
| ____ | ____ | ____ | ||
| Unrestricted funds | 336 | - | 336 | |
| Restricted funds | - | 1,820 | 1,820 | |
| ____ | ____ | ____ | ||
| Total charity funds | 336 | 1,820 | 2,156 | |
| ____ | ____ | ____ | ||
| 11. | None of the Trustees have been paid any remuneration or received any other benefits during the | |||
| year. |
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MASTICATIONPEDIA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
12. SERVICES
In common with many organisations of our size and nature we use services of accountants to prepare and submit returns if any of the tax authorities and assist with the preparation of financial statements.
07/07/2022
Gianni Frisardi
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