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2021-12-31-accounts

Trustees’ Annual Report for the period

From 1[st] January 2021 Period start date To Period end date

31[st] December 2021

Charity name: Cure CLCN4 LTD

Charity registration number: 1190344

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 Cure
CLCN4
Limited
is
a
not-for-profit
organisation
constituted with charitable purposes in perpetuity. The
company is limited by guarantee and is governed by a
memorandum and articles of association. The objectives of
Cure CLCN4 Limited are:
a) The advancement of health, relief of sickness and saving
of lives by such means as the trustees see fit including but
not exclusively through:
i) Providing relief and assistance to people suffering from
pathogenic variants of clcn4; and
ii) The funding of medical research anywhere in the world for
the purpose of discovering, developing and delivering
treatment for patients with pathogenic variants of clcn4; and
B) The furtherance of such other charitable purpose or
charitable purposes as the trustees in their absolute
discretion from time-to-time think fit, in each case for the
public benefit.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.		 Para 1.17 and
1.19		 The Charity's objects are such exclusively charitable
objects and purposes for the public benefit throughout
England and Wales as the trustees may in their
discretion think fit. The Charity furthers its charitable
purposes for the benefit of the public by funding or
undertaking scientific research for the advancement of
knowledge of clcn4 related condition and by
supporting those affected by it.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The trustees have due regard to the Charity
Commission's guidance as to operation of the public
benefit requirement when exercising powers or duties
to which the guidance is relevant and in their opinion
the charity's activities are wholly for the benefit of the
public.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment

Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Cure CLCN4 LTD has successfully initiated projects
for the generation/validation of important tools for the
furthering of scientific research into CLCN4 condition
(including an animal model as well as the first official
registry for CLCN4 patients)
We have worked on supporting affected families via
the provision of accessible and up-to-date information
on CLCN4 condition on our website as well as via the
organisation of the first Cure CLCN4 Family Meeting.
Hiring of a full-time research manager to ensure the
continuity and progress of our activities towards the
objectives of the charity.

Additional information (optional) You may choose to include further statements where relevant about:
Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 The charity’s financial position at the end of
2021 is healthy with a balance of GBP 65.5k.
This is the first year that the charity has an
income. This revenue has allowed us to
support the charity’s projects in the
furtherance of our objectives including
research and support of affected families
and leaves us with enough reserves to carry
out more and larger projects on the following
year.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The trustees aim to maintain reserves at a
level which equates to approximately six
months of charitable expenditure. The
trustees consider that this level will provide
sufficient funds to project and operational
need and ensure that support and
governance costs are covered. The trustees
consider that a level of 6 months is sufficient.
Amount of reserves held Para 1.22 £65,562
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 No uncertainties.

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Memorandum and Articles Incorporated 06
Feb 2020
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Charitable company (limited by guarantee)
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 The Board shall be permitted to appoint by
majority decision any individual who is
eligible as a Trustee to fill a vacancy in their
number or as an additional Trustee.

Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures
adopted for the induction and
training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charity name Cure CLCN4 LTD
Other name the charity uses
Registered charity number 1190344
Charity’s principal address 2 Duke Street
London
W1U 3EH

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Peter James Alistair
Trill
Larry Louison
Alan Wise
Wang Sin Tan
Alexis Karim
Paul McGuinness June 2022 - present

– Corporate trustees names of the directors at the date the report was approved

Director name Peter James Alistair Trill Larry Louison Alan Wise Wang Sin Tan Alexis Karim Paul McGuinness

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Peter James Alistair Trill Position (eg Secretary, Trustee Chair, etc) Date 26/10/2022

CURE CLCN4 (a company limited by guarantee)

Financial Statements for the period ended 31 December 2021

Company Number: 12447230

CURE CLCN4 (a company limited by guarantee)

Statement of accounts for the period ended 31 December 2021

Contents

Page
1 Legal and administrative information
2 -3 Directors’ report
4 Statement of financial activities for the period ended 31 December 2021
5 Balance sheet as at 31 December 2021
6-8 Notes to the accounts

CURE CLCN4 (a company limited by guarantee)

Legal and administrative information

Governed by

Memorandum and Articles of Association dated 6 February 2020.

Directors

P Trill A Karim W Tan A Wise L Louison Paul McGuinness (Appointed 7 June 2022)

Registered Office

2 Duke Street London W1U 3EH

Accountants

TC Group Level One Devonshire House One Mayfair Place London W1J 8AJ

Registered charity number

1190344

Company Number

12447230

1

CURE CLCN4 (a company limited by guarantee)

Directors’ Report

The Directors’ submit the organisations report for the period ended 31 December 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee. The company was established under a memorandum of Association which sets out the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment, Appointment and Training of Trustees

Trustees can be nominated by any member of the Board of the Trustees to replace a trustee stepping down.

Appointment of newly nominated Trustees requires unanimous approval of all Trustees.

The new Trustee is provided with details of Trustees’ roles and responsibilities. Training as such is not provided as no one has felt it to be necessary. At meetings, there is always room for questions and explanations.

OBJECTIVES AND ACTIVITIES

Charitable Objectives

Cure CLCN4 Limited is a not for profit organisation constituted with charitable purposes in perpetuity. The company is limited by guarantee and is governed by a memorandum and articles of association.

The objectives of Cure CLCN4 Limited are:

FINANCIAL REVIEW

This is the second year of operations, and the focus has been on continuing to build out and consolidate the infrastructure of the charity. Further, in line with the charity objectives we have organised events to support families and connect with the research community as well as worked on developing essential research tools such as an animal model and patient registry.

2

CURE CLCN4 (a company limited by guarantee)

Directors’ Report (continued)

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The Directors’ are required under company law to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law Directors’ must not approve the financial statements unless they are satisfied that they give a true and fair view of the company and of the surplus or deficit of the company for that period. In preparing those financial statements the Directors’ are required to:

The Directors’ are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the Directors

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…………………………………..
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Mr P Trill Director Date: 25/10/22

3

CURE CLCN4 (a company limited by guarantee)

Combined Statement of Financial Activities and Income Statement for the period ended 31 December 2021

Note
INCOME FROM
Donations
3
Other income
Total Income
EXPENDITURE ON
Charitable activities
Administration
4
Total expenditure
Net incoming/(outgoing) resources
Total funds brought forward
Total funds at 31 December 2021		 Restricted
£






 2021
Unrestricted
£
107,720
-
107,720
-
33,610
33,098
74,110
(8,548)
65,652		 Total
£
-
-
-

-

 2020
Total
£
-
-
-

-
8,548
8,548
(8,548)
-
(8,548)

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

4

CURE CLCN4 (a company limited by guarantee)

Balance sheet as at 31 December 2021

Note
Current Assets
Cash at bank and in hand
5
Debtors
6
Total assets
Creditors: Amounts falling due within
one year
7

Net Current Assets
Total Assets Less Current Liabilities
Funds
Unrestricted funds		 2021

£
£
77,628

2,120

79,748

(14,186)

65,562
65,562
65,562

**65,562 **
2020
£

2,890



(11,438)
(8,548)
(8,548)
(8,548)
(8,548)

For the financial period ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of these financial statements pursuant to section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 368 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its surplus or deficit for the financial period in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP.

25/10/22

Approved on and signed on behalf of all directors by:

Mr P Trill Director

Company Number: 12447230

5

CURE CLCN4 (a company limited by guarantee)

Notes forming part of the accounts for the year ended 31 December 2021

1 BASIS OF PREPARATION

Cure CLCN4 is a company limited by guarantee incorporated in England and Wales.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

2 ACCOUNTING POLICIES

2.1 Incoming resources

All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income received can be measured reliably.

2.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

2.3 Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

2.4 Direct charitable resources expended

Direct charitable expenditure includes the direct costs in furtherance of the charity’s objectives and are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. Expenditure is accounted for under the accruals concept.

2.5 Administration resources expended

Administration costs represent the running costs of the charity and are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. Expenditure is accounted for under the accruals concept.

6

CURE CLCN4 (a company limited by guarantee)

Notes forming part of the accounts for the period ended 31 December 2021 (continued)

3 Income from donations

Individual donations
4
Expenditure

Expenditure on charitable activities
Staff Wages
Staff pension
Conferences
Research costs
Processing fees
Computer expenses
Accountancy
Consultancy
Advertising
Legal & Professional
5 Cash at bank and in hand
Cash at bank and on hand
6 Debtors
Amounts due from social platforms		 2021
£
119,158
119,158
2021
£
-
18,793
1,139
35
5,055
528
287
1,816
6,248
(291)
-
33,610
2021
£
77,628
77,628
2021
£
2,120
2,120		 2020
£
-
-
2020
£
-
-
-
-
-
-
-
-
1,450
7,098
8,548
2020
£
2,890
2,890
2020
£
-
-

7

CURE CLCN4 (a company limited by guarantee)

Notes forming part of the accounts for the period ended 31 December 2021 (continued)

7 Creditors: amounts falling due within one year

Accruals
PAYE & Pension
Loan from director		 2021
£
1,816
932
11,438
14,186		 2020
£
-
-
11,438
11,438

8 Funds of the Company

All funds held by the company are unrestricted and are to be used in the furtherance of the company’s objectives as outlined in the directors’ report on page 2.

9 Related party transactions and Trustees’ Remuneration and expenses

During the year P Trill donated £87,500 to the company. P Trill is a director and trustee of Cure CLCN4.

The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind. None of the trustees were paid expenses during the year.

8

Lewin Accounts Ltd/Chartered Accountant Independent examiner's report to the Trustees of Cure CLCN4 Ltd Registered Charity England and Wale5, No. 1190344, Company number 12447230 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021. Responsibilitles and basis of report As the charity trustees of the Company Iwho are also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audlted for thls year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111"the 2011 Act"). In carrying out my examination, I have followed the Directions 8iven by the Charity Commission (under section 14515llbl of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that.. 3ccountin8 records were not kept in accordance with section 386 of the Companie5 Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of the independent examination; or the accounts have not been prepared in accordance with the Charities SORP IFRS 1021 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Colin Lewin, FCA Mercury House 19-21 Chapel Street Marlow Bucks. SL7 3HN 25 October 2022 Phone.. 01628 890504 Email.. colin@lewinaccoLJnts.co.uk Registered office: Mercury House 19-21 Chapel St Marlow Buck5 SL7 3HN Registered in England No 7197950