2021-12-31-accounts - Bma Foundation

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Trustees	Report and General Information	Report and General Information	2-5
Auditors	Report		6-8
Statement	ofFinancial	Activities
Balance	Sheet		10
Statement	ofCash Flows
Notes to	the Financial	Statements	12- 19

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FINANCIAL STATEMENTS FOR THE	YEAR ENDED 31STDECEMBE	R 2021
BALANCE SHEET			Combined
		2021	2020
	Note	Total	Total
		E	6
FIXEDASSETS
Investments		27,928,558	23,743,398
CURRENT ASSETS
Debtors		143,597	18,565
Cash at bank		183,992	340,668
TOTAL CURRENT ASSETS		327 589	359233
LIABILITIES
Creditors falling due within one year	10	2,530,985	2,276,949
NET CURRENT LIABILITIES		(2,203,396)	(1,917,716)
NET ASSETS		25,725,162	21,825,682
THE FUNDS OP THE CHARITY
Unrestricted funds		19,611,628	16,274,982
Restricted funds		6,113,534	5,550,700
Total funds		25,725,162	21,825,682

STATEMENT OF	CASH	F	LOWS
							Combined
						2021	2020
					Note	Total	Total
Net cash provided	by/(used		in) operating	activities	12	989,185	(721,734)
Cash flows from	investing		activities:
Interest and dividends						948,279	737,906
Bank interest						29
Cash invested						(2,123,409)	(413,000)
Management fees	paid I'rom		capital account			29,240	28,038
Net cash provided	by/(used		in) investing	activities		(1,145,861)	352,944
Change in cash and cash equivalents in the reporting period						(156,676)	(368,790)
Cash and cash equivalents		at the
beginning ofthe	reporting		period			340,668	709,458
Cash and cash equivalents		at the
end ofthe reporting period					12	183,992	340,668

		Unrestricted	Restricted	Total
BEQUESTS AND GRANTS		Funds	Funds	Funds
Year ended 31stDecember 2021
Rosetree		32,500		32,500
Jon Moulton Foundation	Grant		127,936	127,936
Other donations		60		60
		32,560	127,936	160,496
		Unrestricted	Resnicted	Total
		Funds	Funds	Funds
Year ended 31st December 2020
Rosetree		32,500		32,500
Jon Moulton Foundation	Grant		124,400	124,400
Other donations		60		60
		32,560	124,400	156,960

NOTES	THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS
					2021	2021	2021
3b)	INVESTMENT INCOME				Unrestricted	Restricted	Total
					Funds	Funds	Funds
						8	8
	Listed UK investments				723,966	224,313	948,279
							Combined
					2020	2020	2020
					Unrestricted	Restricted	Total
					Funds	Funds	Funds
					8
	Listed UK investments				551,948	185,552	737,500
4)	CHARITABLE ACTIVITIES					Support and
					Charitable	Governance
					Activities	Costs	Total
	Year ended 31stDecember	2021
	Grants (see note 6)				782,985		782,985
	Bank charges					328	328
	Accountancy					7,200	7,200
	Audit fee					4,200	4,200
	Recharged salaries					200,932	200,932
	Miscellaneous					12,378	12,378
					782,985	225,038	1,008,023
						Support and
					Charitable	Governance	Combined
					Activities	Costs	Total
	Year ended 31stDecember 2020				f,
	Grants (see note 6)				777,418		777,418
	Bank charges					352	352
	Accountancy					10,238	10,238
	Audit fee					10,032	10,032
	Recharged salaries					205,931	205,931
	Miscellaneous					35	35
					777,418	226,588	1,004,006
	AUDITORS' REMUNERATION
	The auditors' remuneration	constituted	an audit fee	of84,200	(2020:for the four predecessors 610,032) and
	management accounts fees and tax work of87,200			(2020; for	the four predecessors f	10,238).
	ANALYSIS OF GRANTS						Combined
	This is made up ofgrant commitments		to mstitutions	analysed	as follows;	2021	2020
	TP Gunton
	2020 - Dr BDavies						57,207
	Helen H Lawson
	2020 - Dr TWaterfield						49,200
	2021 - Dr Emily Bowen					36,800
	2021 - Dr Kate Atkinson					19,935
	Josephine Lansdell
	2020 - Dr TPatterson						64,076
	2021 - Dr Tian Zhoa					64,895
	c/fwd to page 15					121,630	170,483

NOTES	THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS
6)	ANALYSIS OF GRANTS	.....		...continued			2021	Combined 2020
							6	8
	b/fwd I'rom page 14						121,630	170,483
	Vera Down
	2020 - Dr SRinaldi							64,955
	2021 - Dr Ruth Dobson						63,857
	Kathleen Harper
	2020 - Dr A Hammond							57,539
	2021 - Dr Monique Anderson						64,500
	Doris Hillier
	2020 - Dr P Riches							50,857
	2021 - Dr A Soni						64,095
	Scholarship Trust
	2020 - Professor A Grant							64,800
	2021 - Dr Judith Johnson						62,938
	JMoulton
	2020 - Dr A Al-Hindawi							61,109
	2020 - Dr RBrown							63,290
	2021 - Professor Christina	van der Feltz-Cornelis					64,955
	2021 - Professor Holly Bridge						62,981
	Lift into Research
	2020 - Dr K Fairhurst							20,000
	2020 - Dr H Al Hassan							20,000
	2020 - Mr C Herman							20,000
	Margaret Temple 2020 - Dr M Barbu							49,555
	2020 - Dr C Osimo and Professor			0 Howes				19,096
	2021 - Dr James Bisby and	Dr Michael Bloomfield					64,864
	Dawkin and Strutt
	2020 - Dr M Pi Pietro							64,683
	2021 - Dr Isioma Egbuniwe						64,998
	James Trust
	2020 - Dr Aran Signanayagam							64,641
	2021 - Dr Hugo Fame						64,387
	H CRoscoe
	2020 - Dr Conor Bamford							64,040
	2021 - Professor Peter Stockley						64,511
	Other grants and prizes
	Covid-19 grant						36,209
	Adjustment for grants unclaimed			(prior years)			(16,940)	(77,630)
							782,985	777,418
	ANALYSIS OF STAFF COSTS
	The Foundation does not directly			employ	any	staff.
	A recharge ofadministrative		costs, including			staff time is recharged	to the charity by the British Medical
	Association as shown in note		2,
								Combined
8)	INVESTMENTS						2021	2020
	Market value at 1st January	2021					23,430,474	23,931,230
	Additions						2,058,356	2,463,633
	Disposals						(1,746,847)	(1,498,410)
	Net realised (losses)/gains						(424,983)	(127,954)
	Net unrealised (losses)/gains						2,515,974	(1,338,026)
	Market value at 31st December 2021						25,832,974	23,430,473
	Historical cost at 31stDecember			2021			18,344,811	17,467,364

			Combined		Combined
		Cost	Cost	Market	Value
		2021	2020	2021	2020
		f,		8
Listed	equity investments	18,344,811	17,467,364	25,832,974	23,430,473
Cash	held at brokers	2,095,584	312,925	2,095,584	312,925
		20,440,395	17,780,289	27,928,558	23,743,398

DEBTORS			Combined
		2021	2020
		Due within	Due within
		one year	one year
Accrued income		127,936
Other debtors		15,661	18,565
		143,597	18,565
CREDITORS			Combined
		2021	2020
		Due within	Due within
		one year	one year
			f.
Grant commitments	outstanding	2,418,461	2,208,320
Accruals		112,524	68,629
		2,530,985	2,276,949

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NOTES	TO THE FINANCIAL STATEMENTS	TO THE FINANCIAL STATEMENTS	TO THE FINANCIAL STATEMENTS	TO THE FINANCIAL STATEMENTS	TO THE FINANCIAL STATEMENTS
12)	RECONCILIATION OF INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES						Combined
						2021	2020
						I
	Net income for the reporting			period (as	per page 9 - SOFA)	3,899,480	(1,603,033)
	Adjustments for:
	Dividends and interest trom		investments			(948,279)	(737,906)
	Bank interest					(29)
	(Gains)/losses on investments					(2,090,991)	1,465,980
	(Increase)/decrease	in debtors				(125,032)	(17,340)
	Increase/(decrease)	in creditors				254,036	170,565
	Net cash provided	by/(used	in) operating		activities	989,185	(721,734)
							Combined
	ANALYSIS OF CASH AND			CASH EQUIVALENTS		2021	2020
	Cash at bank					183,992	340,668

ANALYSIS		OF PRINCIPAL	SOFA COMPONENT	S FOR THE PR	EVIOUS RE	PORTING PE	RIOD
			2020	2020	2020	2020	Combmed
			Joan Dawkins	TV James	H C Roscoe	Scholarship	Total
					I
Total income			148,215	89,722	66,753	590,176	894,866
Total expenditure			(181,618)	(86,021)	(101,350)	(662,930)	(1,031,919)
Net inoome/(expenditure)			(33,403)	3,701	(34,597)	(72,754)	(137,053)
Gains/(losses)			(323,120)	(166,433)	(159,856)	(816,571)	(1,465,980)
Net movement		in fund	(356,523)	(162,732)	(194,453)	(889,325)	(1,603,033)
Brought forward			4,784, 182	2,927,819	2,138,504	13,578,210	23,428,715
Carried forward			4,427,659	2,765,087	1,944,051	]2,688,885	21,825,682
ANALYSIS		OF NKT ASSETSAT THE DATE OF		MERGER
			2020	2020	2020	2020	Combined
			Joan Dawkins	TV James	H CRoscoe	Scholarship	Total
			f,
Net assets			4,427,659	2,765,087	1,944,051	12,688,885	21,825,682
Represented	by:
Unrestricted		funds	4,427,659			11,847,323	16,274,982
Restricted funds				2,765,087	1,944,051	841,562	5,550,700
Total funds			4,427,659	2,765,087	1,944,051	12,688,885	21,825,682