REGISTERED COMPANY NUMBER: CE023464 (England and Wales) REGISTERED CHARITY NUMBER: 1191332
Report of the Trustees and Unaudited Financial Statements
for the Period Ended 31 December 2021
for
THE MENOPAUSE CHARITY
Haines Watts Birmingham LLP
5-6 Greenfield Crescent Edgbaston Birmingham B15 3BE
THE MENOPAUSE CHARITY
Contents of the Financial Statements for the 15 months ended 31 December 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 11 |
THE MENOPAUSE CHARITY
Reference and Administrative Details for the 15 months ended 31 December 2021
Trustees M H P Daly Dr L Newson J Oglesby Dr R Vohra V Barnes (resigned 18 June 2021) CEO J Haskey Registered office Winton House Church Street Stratford-Upon-Avon CV37 6HB Registered charity number 1191332 Independent Examiner Haines Watts Birmingham LLP 5-6 Greenfield Crescent Edgbaston Birmingham B15 3BE
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THE MENOPAUSE CHARITY
Report of the Trustees
for the 15 months ended 31 December 2021
The trustees present their report with the financial statements of the charity for the 15 months ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable t o 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
Objectives and aims
The charitable objectives set out in our governing document are:
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To preserve and protect the physical and mental health of sufferers of the perimenopause and menopause and related conditions (including post menopause, premature ovarian insufficiency and oestrogen deficiency) through the provision of support, education, practical advice and treatment.
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To advance education for the public benefit and research, the useful results of which will be published, in all areas relatin g to the menopause and to raise awareness generally of the perimenopause and menopause and their effects and impacts.
The Menopause Charity is working to bust myths, overcome ignorance and make menopause symptoms history by ensuring access to evidence-based information, advice and support. We believe that every person in menopause, regardless of her background, ethnicity or financial means, deserves to have access to the same high standard of advice, treatment and support to allow them to move forward into a happy and healthy future.
Public Benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Why we are here
Over 13 million people in the UK are peri/menopausal; that’s a third of the entire female population. The menopause has an under recognised, but debilitating effect on a very significant number of women.
90% of women experience menopausal symptoms that affect daily life, work and relationships or lead to long-term mental and physical problems. Sadly, many women expect to have a difficult experience of menopause or are ashamed or embarrassed to ask for care. When women do seek medical support, many are misdiagnosed, given inaccurate and out-of-date information or simply told to put up with their symptoms.
Yet despite a lack of appropriate treatment leading to devastating consequences, 41% of medical schools don’t teach about the menopause as a compulsory subject and, due to misleading information on the safety of HRT, many feel unconfident to prescribe. The consequences can be terrible: in the UK 20% of women leave their jobs due to the menopause, 66% of menopausal women seeking help from their GP are offered anti-depressants instead of HRT, and both divorce and suicide rates are significantly higher around menopause.
Our vision and mission
Our vision is a world where the menopause is understood, and no one need suffer needlessly. Until we get there, our mission is to ensure everyone in society can access evidence-based information, advice and support.
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THE MENOPAUSE CHARITY
Report of the Trustees
for the 15 months ended 31 December 2021
Achievement and performance
Charitable activities
In our founding year, the charity has delivered its charitable activities with the provision of evidence-based information through our website and social media channels. Launching in November 2020, our website attracted 66.9k visitors, with people searching advice through our knowledge hub.
This activity has been supported by clinicians volunteering their time to speak at online webinars and events, providing supp ort and imparting vital knowledge to help women, and others, better understand peri/menopause symptoms and appropriate treatment options.
Fundraising activities
During our first year, there have been many highlights, most notably recognising the charity launched during a pandemic: • A crowdfunding campaign raised £35.6k
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A founding donation of £20.2k from Newson Health
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A founding donation of £25k from Shoezone Trust
Financial review
Financial position
The net surplus for the period was £43,063 from our routine activities, which is carried forward to fund charitable activities in the current year.
Reserves policy
The trustees have no formal reserves policy but aim to maintain sufficient funds that allow a certain amount of financial sec urity during our formative years, whilst taking advantage of opportunities to deliver our charitable activities.
The trustees consider the level of reserves satisfactory and continue to monitor the level of reserves regularly to ensure th ey remain appropriate to the charity's needs.
Going concern
The board of trustees has a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found the Accounting Policies.
Future plans
Looking forwards, 2021/22 is a year to establish our strategy, embed the infrastructure and generate the funds required to secure long term success. Whilst growing our income and building the resources needed to meet our future ambitions, The Menopause Charity will continue to develop our platforms ensuring everyone in society can access evidence-based information, advice and support.
Structure, governance and management
Governing document
The charitable company is controlled by its governing document, the Memorandum & Articles of Association dated 16 September 2020.
Recruitment and appointment of new trustees
Trustees are appointed with due regard to the broad range of relevant skills that are required by the Council of Management and the specialist skills and experience offered by the applicant trustee.
Organisational structure
The governing body of the charity is the board of trustees which meets at least four times a year.
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THE MENOPAUSE CHARITY
Report of the Trustees
for the 15 months ended 31 December 2021
Induction and training of new trustees
Each new trustee undertakes induction training, receiving a copy of the memorandum & articles of association and mentoring by existing trustees during the induction period.
Events since the end of the year
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on 31 October 2022 and signed on its behalf by:
M H P Daly - Trustee
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Report of the Independent Auditors to the Members of The Menopause Charity
Independent examiner's report to the trustees of The Menopause Charity ('the Company')
I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 December 2021.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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.
Nichola Venables ACA Haines Watts Birmingham LLP 5-6 Greenfield Crescent Edgbaston Birmingham B15 3BE
Date: 31 October 2022
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THE MENOPAUSE CHARITY Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the 15 months ended 31 December 2021
| Unrestricted Funds Notes £ Income and endowments from Donations and grants 141,281 Investment income 2 11 Total 141,292 Expenditure on Raising funds 4 Charitable activities Charitable activity 98,229 Total 98,229 NET INCOME 43,063 Reconciliation of funds Total funds carried forward 43,063 |
Total Funds £ 141,281 11 141,292 - 98,229 98,229 43,063 43,063 |
|---|---|
Continuing operations
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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THE MENOPAUSE CHARITY
Balance Sheet
31 December 2021
| Unrestricted Funds Notes £ Current assets Cash at bank and in hand 51,074 51,074 Creditors Amounts falling due within one year 8 (8,011) Net current assets 43,063 NET ASSETS 43,063 Funds 9 Unrestricted funds: General fund 43,063 Total funds 43,063 |
Total Funds £ 51,074 51,074 (8,011) 43,063 43,063 43,063 43,063 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2022 and were signed on its behalf by:
............................................. M H P Daly - Trustee
The notes form part of these financial statements
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THE MENOPAUSE CHARITY
Notes to the Financial Statements for the 15 months ended 31 December 2021
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a charitable incorporated organisation registered with the Charities Commission as a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. The trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements. In making this assessment, the trustees are required to consider a period of at least 12 months from the date of approval of the financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.
Income
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income received through contracts and grants is recognised from the point in which the charity has entitlement to the funds, contract/ grant conditions has been fully met or it is probable that the income will be received.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.
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continued...
THE MENOPAUSE CHARITY
Notes to the Financial Statements - continued for the 15 months ended 31 December 2021
1. Accounting policies - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Governance costs
Governance costs include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees' meetings and reimbursed expenses. Allocation of support and governance is based on the discretion of the trustees.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Unrestricted funds include designated funds which have been set aside at the discretion of the trustees for specific purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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THE MENOPAUSE CHARITY
Notes to the Financial Statements - continued
| for the 15 months ended 31 December 2021 2. Investment income Deposit account interest 3. Income from charitable activities Activity Grants and donations Menopause support, education, advice & treatment 4. Support costs Governance Management Other costs £ £ £ Charitable activity 31,834 65,195 1,200 5. Net income Net income is stated after charging: Auditors' remuneration 6. Trustees' remuneration and benefits There were no trustees' remuneration or other benefits for the period ended 31 December 2021. Trustees' expenses Trustees' expenses |
Total £ 11 11 Total £ 141,281 |
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|---|---|---|
| Totals £ 98,229 £ 1,200 £ Nil |
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THE MENOPAUSE CHARITY
Notes to the Financial Statements - continued
for the 15 months ended 31 December 2021
7. Staff costs
Wages and salaries Creditors: amounts falling due within one year Trade creditors Accruals |
2021 Nil £ 6,811 1,200 8,011 |
|---|---|
8. Creditors: amounts falling due within one year
9. Movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
Net movement in funds £ 43,063 43,063 |
At 31/12/21 £ 43,063 43,063 |
|---|---|---|
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 141,292 | (98,229) | 43,063 |
| TOTAL FUNDS | 197,731 | **(101,489) ** | 43,063 |
10. Related party disclosures
There were no related party transactions during the period.
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