2022-12-31-accounts

Trustees	Report and General Information	2-5
Auditors	Report	6-8
Statement	ofFinancial Activities

CURRENT TRUSTEES AND THOSE WHO	IJr C Nagpaul (resigned	3 June 2022)	3 June 2022)	3 June 2022)
HAVE SERVED DURING THE YEAR	Professor Dame Parveen	Kumar
	Dr Trevor Pickersgill
	Thomas Peter Grinyer
	Professor Baroness Ilors	Gillian Finlay
	Professor Sir Sabaratnam	Arulkumaran			FRCOG
	Professor Philip Banfield (appointed				June 2022)
	Neeta Major (appointed	July	2022)
DIRECTOR OF THE BMA FOUNDATION
FOR MEDICAL RESEARCH	N Jayesinghe
PRINCIPAL OFFICE	British Medical Association
	BMA House
	Tavistock Square
	London
	WC1H 9JP
REGISTEREDC~NO.	1192733
COMPANY NUMBER	CE024325
BANKERS	CA FBank
	Charities Aid Foundation
	25 Kings Hill Avenue
	Kings Hill
	West Mailing
	Kent
	ME19 4TA
FUND MANGERS	Charles Stanley &Cotnpany		Limited
	25 Luke Street
	London
	EC2A 4AR
AUDITORS	Prentis &Co LLP
	Chattered Accountants	&Statutoty		Auditors
	115cMilton Road
	Cambridge
	CB4 1XE

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BALANCE SHEET
		2022	2021
	Note	Total	Total
		8	8
FIXEDASSEIS
inestments		24,734,091	27,928/58
~ASSETS
Debtors		123,929	143/97
Cash atbanh		1,135,647	183tt92
TOTAL CURRENT ASSETS		1~9/76	327489
LIABILITIES
Creditors Slling due withm one year NET~LIABIIITIES	10	(2,694,782) (1,435406)	2,530,985 (2403496)
		23498,885	25,725,162
THE FUNDS OFTHEC~
Unrestricted funds		17,733,059	19,611,628
Restricted funds		5,565,826	6,113,534
Total Smds		23~8,885	25,725,162

					2022	2021
				Note	Total	Total
						f
Net cash provided by/(used		in) operating	activities	12	(665,706)	989,185
Cash flows from investing		activities:
Interest and dividends					988,895	948,279
Bank interest					1,557	29
Purchase ofinvestments					(1,939,433)	(2,058,356)
Proceeds fiom investments					999,735	1,746,847
Net cash provided by/(used		ln) Investing	activities		50,754	636,799
Change in cash and cash equivalents
in the reporting period					(614,952)	1,625,984
Cash aud cash equivalents	at the
beginning ofthe reporting		period		12	2,279,576	653,592
Cash and cash equivalents	at the
end ofthe reporting period				12	1,664,624	2,279,576

		Unrestricted	Restricted	Total
BEQUESTS AND GRANTS		Funds	Funds	Funds
Year ended 31stDecember 2022			f,	f,
Wesleyan Assurance		5,286	59,714	65,000
Jon Moulton Foundation	Grant		123,929	123,929
Other donations		1,147		1,147
		6,433	183,643	190,076
		Unmstricted	Restricted	Total
		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

NOTES	TO	THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS
						2022	2022	2022
3b)		INVESTMENT INCOME				Unrestricted	Restricted	Total
						Funds	Funds	Funds
		Listed UK investments				753,854	235,041	988,895
						2021	2021	2021
						Unrestricted	Restricted	Total
						Funds	Funds	Funds
		Listed UK investments				723,966	224,313	948,279
4)		CHARITABLE ACT~S					Support and
						Charitable	Governance
						Activities	Costs	Total
		Year ended 31stDecember	2022				I
		Grants (see note 6)				824,336		824,336
		Bank charges					106	106
		Accountancy					8,760	8,760
		Audit fee					6,930	6,930
		Recharged salaries					152,668	152,668
		Insurance					1,798	1,798
		Miscellaneous					10,938	10,938
						824,336	181,200	1,005,536
							Support and
						Charitable	Governance	Combined
						Activities	Costs	Total
		Year ended 31stDecember	2021			f,	I
		Grants (see note 6)				782,985		782,985
		Baok 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
5)		AUDITORS' REMUNERATION The auditors' remuneration constituted		an audit fee	off6,930	(2021:84,200) and management accounts		fees
		and tax work off8,760(2021: 87,200).
		ANALYSIS OF GRANTS
		This is made up ofgrant commitments		to institutions	analysed	as follows:	2022	2021
		Helen H Lawson
		2021-Dr Emily Bowen						36,800
		2021 - Dr Kate Atkinson						19,935
		Josephine Lansdell
		2021 - Dr Tian Zhoa						64,895
		2022 - Professor Theresa McDonagh		&Dr Clam Bannister			64,475
		Vera Down
		2021-Dr Ruth Dobson						63,857
		2022 - Dr Roberto Bellanti					64,818
		c/fwd to page 15					129,293	185,487

ANALYSIS OF GRANTS	...,.	,.continued
					2022	2021
						f.
b/fwd from page 14					129,293	185,487
Kathleen Harper
2021 - Dr Monique Anderson						64,500
2022 - Dr Sudaxshina Murdan &		Dr Sam Garfield			64,914
Doris Hillier
2021 - Dr A Soni						64,095
2022 - Dr Joshua Bennett					64,906
Scholarship Trust
2021 - Dr Judith Johnson						62,938
2022 - Miss Elena Sheldon	&Professor Christopher			Burton	52,272
JMoulton
2021 - Professor Christina	van der Feltz-Cornelis					64,955
2021 - Professor Holly Bridge						62,981
2022 - Dr Sean Knight					64,607
2022 - Dr Maryna Basalay					59,322
Margaret Temple
2021 - Dr James Bisby and	Dr Michael Bloomfield					64,864
2022 - Dr Benjamin Perry					45,883
Dawkin and Strutt
2021 - Dr Isioma Egbuniwe						64,998
2022 - Dr David Wong					65,000
James Trust
2021 - Dr Hugo Ferne						64,387
2022 - Dr Hans Michael Haitchi &,Dr Alexandra			Kremsck		64,996
H C Roscoe
2021 - Professor Peter Stockley						64,511
2022 - Dr Thushan de Silva					65,000
Foundation (Wesleyan)
2022 - Dr Mullington &Dr Jones					59,714
Other grants and prizes
Adjustment for grant awarded (prior years)					93,191	36,209
Adjustment for grants unclaimed		(prior years)			(4,762)	(16,940)
					824,336	782,985

INVESTMXNTS	2022	2021
	f.
Market value at 1stJanuary 2022	25,832,974	23,430,474
Additions	1,939,433	2,058,356
Disposals	(999,735)	(1,746,847)
Net reslied (losses)/gains	(48,536)	(424,983)
Net unreslised (losses)/gains	(2,519,022)	2,515,974
Market value at 31stDecember 2022	24,205,114	25,832,974
Historical cost at 31stDecember 2022	19,212,561	18,344,811

INVESTMKNTS ...............continued
	Cost	Cost	Market	Value
	2022	2021	2022	2021
			f
Listed equity investments	19,212,561	18,344,811	24,205,114	25,832,974
Cash held at brokers	528,977	2,095,584	528,977	2,095,584
	19,741,538	20,440,395	24,734,091	27,928,558

DEBTORS
		2022	2021
		Due within	Due within
		one year	one year
Accrued income		123,929	127,936
Other debtors			15,661
		123,929	143,597
CREDITORS
		2022	2021
		Due within	Due within
		one year	one year
Grant commitments	outstanding	2,564,877	2,418,461
Accruals		129,905	112,524
		2,694,782	2,530,985

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RECONCILIATION OF I ACTIVITIES	N	COME T	O NET CASH FLOW FROM	OPERATING
				2022	2021
Net income for the reporting		period (as	per page 9 - SOFA)	(2,426,277)	3,899,480
Adjustments for;
Dividends and interest from	investments			(988,895)	(948,279)
Bank interest				(1,557)	(29)
(Gains)/losses on invesnnents				2,567,558	(2,090,991)
(Increase)/decrease in debtors				19,668	(125,032)
Increase/(decrease) in creditors				163,797	254,036
Net cash provided by/(used	in) operating		activities	(665,706)	989,185
ANALYSIS OF CASH AND		CASH EQUIVALENTS		2022	2021
Cash held under investments				528,977	2,095,584
Cash at bank				1,135,647	183,992
				1,664,624	2,279,576