LONG
COVID
S¢=gS
Recognition
LONG COVID SOS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
Charity Number 1199120
(England and Wales)
Long Covid SOS
ww.longcovid505.org infoQlongcovid50s.org
Charity registered in England and Wales no 1199120
Registered address 11A Westland Road Faringdon Oxfordshire SN7 7EX
LONG
COVID
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
CONTENTS
PAGE
General Information
Trustees, Annual Report
3-11
Independent Examiner's Report
12
Statement of Financial Activities
13
Balance Sheet
14
Notes to the Financial Ststements
15-19
LONG
COVID
GENERAL INFORMATION
Registered charity name
Long Covid SOS
Charity number
1199120
Principal & registered office address
11A Westland Road
Faringdon
Oxfordshire
SN7 7EX
Trustees at 31 March 2024
Dr knnda Baines
Professor Amitava Banerjee
Mr Stuart Campbell
Ms Melanie Cassoff
MsJoanna Clift
Ms Gemma Hobcraft
Dr Karen Matthews
Mr Paul Haylock
Secretary
nla
Accountants
nla
Independent examiner
Chapman Worth Limited
Unit 2 The Old Estate Yard
East Hendred
OX12 8JY
Bankers
Lloyds Bank
LONG
COVID
TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS. REPORT)
YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Long Covid SOS was registered as a charity on 30 May 2022. It was originally set up as a
campaigning organisation in June 2020 by a group of people who were suffering from
persistent syrnptoms after contracting COVID-19. Many people do not recover from COVID-19
and are subsequently diagnosed with Long Covid.
The objects of the CIO are for the advancement of health and relief of need among people with
Lon9 Covid, their farnilies and carers for the public benefit by:
1. Raising awareness of Long Covid, its treatment, recovery and rehabilitation among
health policyrnakers, healthcare providers and the general public.
2. Advocating for and making known to healthcare providers, health policymakers and
other relevant policy makers the views and lived experience of members of the general
public suffering from or affected by Long Covid;
3. Supporting or carrying out research into the causes, prevention, diagnosis and treatment
of Long Covid. and publishing the useful results of such research.
For the purpose of the objects 'Long Covid, means Post-Acute Covid-19 syndrome, where
symptoms andlor long-tenm complications occur beyond four weeks from initial infection or
symptom onset to include any post viral illness, with a suspected or evidenced link to Covid-19.
Our purpose can be found in our Memorandum and Articles of Association.
The three pillars of the or9anisation are recognition, research and rehabilitation. Activities are
designed to fit within these categories as follows=
Recognition
Long Covid SOS campaigns for recognition and support from government organisations,
international bodies, employers, healthcare providers and the general public. These campaign
objectives are amplified through social media channels, by means of press and broadcast
media, and by direct interaction with health policymakers. The organisation also collaborates
with other advocates both in the UK and abroad in order to strengthen the message and
increase impact. The organisation is now working with NHS England and other charities to
increase recognition among those in under-served communities. The charity also works with
medical professional societies such as the Royal College of General Practitioners IRCGPI, the
Post Covid Clinical Society and Royal College of Speech and Language Therapists to raise
awareness of Long Covid within these professions. Not long after the group was founded in
2020, Long Covid SOS convened an historical meeting with the WHO at which Director General
LONG
COVID
Dr. Tedros Adhanom Ghebreyesus was present. The charity continues to work with the WHO to
the current day.
Research
Long Covid SOS works closely with academics and scientists to ensure that research is timely,
appropriate, fulfils the needs of those with Long Covid, and that people with lived experience
are involved in the development, implementation, and dissemination of research. In late 2020,
volunteers from the organisation joined the NIHR Expert Panel on Long Covid. This panel
assessed the suitability of research projects for the publicly funded calls into Long Covid
and helped formulate the research questions. Volunteers in the organisation are involved as
advisors. co-investigators and members of expert panelslsteering committees for several
research projects funded by the National Institute for Health Research INIHRI. A key outcome of
one of these projects is the development of a new Patient Reported Outcome IPROI measure,
the Symptom Burden Questionnaire for Long Covid ISBQ-LC). This is in recognition of the
inability of other widely used PROS to adequately reflect the burden within the condition due to
its relapsing and remitting nature. The organisation uses its social media channels to inform the
Long Covid community about current and future research projects and liaises with researchers
to find individuals with lived experience to better inform their projects. The organisation
disseminates amongst its communities any updates and outcomes on the research it supports.
Long Covid SOS campaigns for better research: after an appeal to the Secretary of State for
Health and Social Care for research funding into therapeutics for Long Covid during a
roundtable meeting in 2021, and a subsequent letter, the second NIHR £20m funding call was
announced. Much of this funding was allocated to the SIMULATE-ICP study which is trialling
repurposed drugs for Long Covid, in which several members of the charity are involved. In
addition, Long Covid SOS carries out its own research projects including a major survey into the
impact of COVID-19 vaccination on Long Covid symptoms which has been published in
academic preprint and cited widely by institutions such as NICE, the ONS, SAGE and the CDC
as well as surveys on patients, experiences with the Long Covid clinics and GPS.
Rehabilitation
Through extensive connections with the NHS and other healthcare providers, Long Covid SOS
advocates for appropriate care and rehabilitation for Long Covid patients. The views of
followers on social media and members of support groups are transmitted to those responsible
for making policy decisions on healthcare, infonmally in further meetings and also through
surveys and reports. Past membership of the NHS England Long Covid Taskforce, its subgroups
and the Lon9 Covid roundtable ensured that the patient voice is heard by decision makers. In
addition to these three broad aims, Long Covid SOS provides extensive resources, information
and support to people living with the condition.
Long Covid SOS is a stakeholder with NICE for the Covid-19 technology appraisals and Long
Covid guidelines.
LONG
COVID
We aim to deliver our objectives by improving the recognition of Lon9 Covid so that patients
do not struggle to get care. Recognition of the condition leads to more attention from
government, better funding of services, priority setting on the part of the NHS and rnore
understanding from medical professionals. Long Covid SOS works with researchers and
institutions to prornote research which can help establish the mechanisms which cause Long
Covid in order to facilitate the study. testing and implementation of treatments to help alleviate
the symptoms and establish strategies to prevent the development of the condition. Lon9
Covid SOS encourages the inclusion of the lived experience voice through patient and public
involvement and engagement within research projects. Long Covid SOS improves the health of
those living with Long Covid by advocatin9 for healthcare seNices that are appropriate,
beneficial, comprehensive, local and available to all sections of society.
ACHIEVEMENTS AND PERFORMANCE 202312024
Recognition
In August 2023 Long Covid SOS wrote to the Secretary of State for Health and Social Care Steve
Barclay to ask the government to expand the vaccine rollout. The letter was
ublished in the BMJ
British Medical Journal
We subsequently received a re
I from Prof Wei Shen Lim at the Joint
Committee on Vaccines and Immunisation (JCVII which unfortunately did not address our
concern&
Long Covid SOS along with two other charities, Long Covid Support and Long Covid Kids (the
'Long Covid Groups'l were granted Core Participant status in Module 2 of the UK Covid Inquiry
in October 2022, and were also successful in an application for Module 3. Unfortunately, in
September 2023 we were denied participation in Module 4, which is investigating therapeutics
and vaccines. We and our legal team felt that this decision was wrong and issued a
ress release
to protest leading to articles in the .
ress
Module 2 opened on 2nd October 2023
and we and the other charities took part
in a protest outside the venue - our Co-
founder and CEO was featured on BBC
TVNe
MILIIDN
ov
HAVE LQNGCOVI
YÈD_
LtD_
IMMQBILE
Ima
LONG
COVID
Later in October 2023 CEO Ondine Sherwood was
called to provide oral evidence to the Inquiry on
behalf of the Long Covid Groups. She was
questioned by Andrew O'connor KC for the
Inquiry as well as by Baroness Hallet and described
the events which led up to the formation of Long
Covid SOS in June 2020. She highlighted the lack
of awareness about Long Covid to this day, and the
very concerning situation in NHS medical facilities now whereby minimal precautions against
Covid infections are in place.
Our CEO wrote an opinion piece for the BMJ on the evidence provided by Matt Hancock to the
Inquiry, published in December 2023.
Towards the end of Covid Inquiry Module 2 on 6th December 2023 the Long Covid Groups
launched a cam
n on the day that Boris Johnson was giving evidence, #ltCouldHappenToYou.
As well as having a presence outside the Inquiry building the groups organised a 'digivan' which
toured the streets of central London with a with a powerful set of images to hammer home the
message to the public that anyone can get Long Covid. The video was put together by Long
Covid SOS volunteer Helen Lunt Davies, who is responsible for all of the charity's rnhIcal
ra
ANYONE CA
ONG COVID
#ltCouldHappenToYou
The Long Covid Groups also sent an o
en letter to Prime Minister Rishi Sunak demanding
increased investment into urgent biomedical research and clinical trials for Long Covid. The
accompanying
etition has to date attracted more than 5,600 signatures.
A few days previously, our CEO was interviewed on Sk News along with Secretary to the Covid
Inquiry Ben Connah. As the module closed, Long Covid SOS were featured on ITV News and Sk
News.
LONG
COVID
In March 2024 Long Covid SOS launched a Bill of Ri
hts for people
with Long Covid, which has formed the basis for our campaigning this
year. It was supported by other Long Covid and Covid aware groups
and charities in the run-up to the general election. The Bill of Rights is
backed up by a
etition which at the time of writing is nearing 2,500
signatures. A template letter for supporters to send to their MPS and
another template for parliamentary candidates forms part of the
campai9n. The Bill of Rights has now been translated into several
languages.
BILL OF RIGHTS
for people with Long Covid
The charity inputted into NICE'S three-year strategy for involvement and engagement as a
stakeholder partner. A trustee sits on NICE'S voluntary and community sector Forum to further
advocate for the needs of our community to access health and social care services.
Research
In June 2023 our Co-founder and CEO took part in an Inde
research on the experience of Long Covid in other countries.
endent Sa
e webinar and presented
Prior to the publication of the GP leaflet, the
charity ran an online survey to gather information
on GP engagement with patients with Long Covid.
We received 313 responses, and the resultant
re
ort contains the concerning statistic that more
than 62Yo of respondents indicated that their GP
was unable to help them, with a further 9%
diagnosing them with anxiety.
sPApprtch by wrvfilllIOn
1115
The charity has close links with the STIMULATE-ICP research project run by UCL. Trustee
Amitava Banerjee is the Chief Investigator, CEO Ondine Sherwood is a member of the trial
steering committee and one of our volunteers is involved in Patient and Public Involvement and
Engagement IPPIEI. We also provide PPIE for the WILCO stud led by Professor Danny Altmann
and the Thera
ies for Lon COVID in norFhos
italised individuals
TLC
Stud which has now
leted.
been com
Rehabilitation
In November 2023 the charity launched a brand new
Resources page on the website which is divided into
nine sections and offers practical help, support and
links to other organisations who can provide advice and
guidance for those who have Long Covid. their families
and carers. In addition to these pages, the website
provides emergency guidance for people in crisi&
LONG
COVID
In January 2024 we wrote a
oint letter to the Scottish Government to complain about an update
published to the Lon9 Covid guidance on NHS Scotland's Inform plarform. We were dismayed at
the videos on their website which served to minimise the experience of Lon9 Covid and
suggested that getting better was a matter of increasin9 activity and changing attitude.
March 2024 also saw the launch of our GP Leaflet created in partnership with the Royal College
of General Practitioners. It provides easy reference to help doctors recognise, dia9nose and
identify treatments for
Long Covid symptoms. It
was welcomed by GPS and
Integrated Care Boards,
many of which shared
information about the
leaflet in their newsletters
to GPS. The leaflet is now
being revised in
collaboration with the
Clinical Post Covid Socie
To accompany this information we designed a companion leaflet for
atients lannin
their GP, which provides a comprehensive resource to support people navigating the
complexities of Long Covid. It encourages patients to compile symptom lists, prepare questions
for their GP, and advocate for themselves during consultations.
These leaflets are part of a series which have been funded by a grant from the Philip King Trust.
a visit to
The charity has acted as a stakeholder in five Covid-19 technology appraisals that NICE has
conducted this year, plus an update to the COVID-19 guidance.
Fundraising
During the year Long Covid SOS has been supported by private donations and also by people
tsking on physical challenges to raise funds for the charity-
In early April 2023 Charlie Russell, along with his father and brother, climbed to Mount Everest
Base Cam
and raised £6,700 for Long Covid SOS.
In April 2023, Joe Ferrelly ran the London Marathon in aid of our charity raising nearly £1,400.
In May 2023 ten year-old Siddharth Srinivasan, whose mother has Long Covid. raised £833 by
walking 10 miles along Middlewood Wa
LONG
COVID
A 2024 Long Covid SOS fundraising Calendarfeaturing photographs
frorn our colleague Kim Horstmanshof was put on sale in our shop in
November 2023, and sold out, raising several hundred pounds for the
charity.
LONC.
COVID
sos
LONG
covit)
sos
December 2023 saw the launch of a ran9e of
Long Covid SOS merchandise using the
Spreadshop platform. This arrangement enables
us to feature a vast range of designs which are
printed to order and shipped by the
Wekcm•to Long eo*i SOS
tPrwthT
charity.
For Long Covid Awareness day on 15th March 2024 the charity sold 270 ribbon pins through the
website shop, raising valuable funds for the charity.
The charity has featured in more than 20 news articles, videos and broadcasts during this financial
year.
INFORMATION ASSURANCE
The Long Covid SOS Trustee Board oversees information security policies and systems for the
processing of all personal information of our subscribers, volunteers, funders and strategic
partners. An information assurance management team exists to ensure that confidentiality,
integrity and availability of all personal and sensitive data is maintained to a level which is
compliant with the requirements of the UK General Data Protection Regulation and Data
Protection Act 2018.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The charity is run entirely by volunteers and as such we do not have any paid staff. The running of
the organisation is overseen by a Trustee Board of eight individuals. Five of these individuals
were appointed in 2022123 and a further three have been appointed since 1 April 2023.
The charity has no premises responsibility, as all volunteers and Trustees conduct charity business
remotely.
LONG
COVID
RISK MANAGEMENT
The Trustees have worked on and agreed a Risk Management strategy, register and plan during
the year.
The Trustees recognise that any major risks to which the charity is exposed need to be reviewed
and systems put in place to mitigate those risks. To this end, we are continually monitoring and
managing our risks, reviewing the risk register and ensurin9 action plans are in place to mitigate
the key risks.
PUBLIC BENEFIT
The Trustees take into account the Charity Commission guidance on public benefit and are
confident that the activities of Long Covid SOS are fully in line with that guidance.
FINANCIAL REVIEW
Our Financial Position
During 2023124, Long Covid SOS has delivered a surplus of £32,200 which when added to the
surplus of £9.724 brought forward on 1 April 2023 gives us a total surplus of £41.924. We were
successful in securing a grant of £22,000 from the Philip King Trust during the year which will
enable us to develop both our website further and to complete our campaign projects. The funds
remaining from this project were £21,800 at the year end. The remainin9 funds of £21,124 are
free reserves to enable the charity to continue its work during the coming year. These funds are a
mixture of donations and sales of Long Covid merchandise.
During 2024125 we will continue to seek new avenues of funding in order to develop further the
aims and objectives of the charity.
Reserves Policy
The charity has a policy of retaining sufPicient unrestricted reserves to finance its planned
programme and meet its future financial obligations.
For this purpose, the Trustees have established systems to monitor financial performance and to
forecast future commitments and reserves for a minimum of 12 months ahead. Where any
potential shortFall is identified. the charity has a policy of amending futsjre activities or cutting
overhead costs in order to maintain a sufficient level of unrestricted reserves. The policy is
reviewed on an annual basis.
io
LONG
COVID
TRUSTEE RESPONSIBILITIES
Charity law requires the Trustees to prepare the accounts for each financial year which provide a
true and fair view of the state of affairs of the charity and of the surplus or deficit for that period.
In preparing those accounts the Trustees are required to:
Select suitable accounting policies and apply them consistently
Make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards and statements of recommended practice
have been followed, subject to any departures disclosed and explained in the financial
statements,. and
Prepare the accounts on the going concern basis unless it is appropriate to presume that
the charity will continue in operational existence.
The Trustees are responsible for keepin9 proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charity and to enable them to
comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the
charity and hence taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The Trustees annual report was approved on 9 September 2024 and signed on behalf of the
Board of Trustees
by.. Paul HaylockTrustee
li
LONG
COVID
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LONG COVID SOS
I report to the trustees on my examination of the financial statements of Long Covid SOS (the
charity} for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the trustees of the charity you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111.the 2011 Act,).
I report in respect of my examination of your charity's financial statements as carried out under
section 145 of the 2011 Act 2011. In carrying out my examination I have followed all the
applicable Directions given by the Charities Cornmission under section 145151 Ibl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in
connection with the exarnination giving me cause to believe..
accounting records were not kept in respect of the charity as required by section 130 of
the 2011 Act. or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and
content of the 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; or
4. the accounts have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practice for accounting and reporting by charities
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS1021.
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.
A Chapman FCA
Chapman Worth Limited
2 The Old Estate Yard
High Street
East Hendred
Wantage
OX12 8JY
Dated:
12
|Note
**Income from:**
Grant
Donations and
legacies
3
Sales
4
Total income
**Expenditure on:**
Charitable activities
6
Raising funds
5
Total expenditure
**Net income /**
**(expenditure)**
**Transfers between**
**funds**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought
forwards
**Total funds carried**
**forward**|**Unrestricted**
**Funds**
**£**
-
11,110
2,918
14,028
2,944
684
3,628
10,400
-
10,400
9,724
20,124|**Restricted**
**Funds**
**£**
22,000
-
-
22,000
200
-
200
21,800
-
21,800
-
21,800|**Total**
**Funds**
**2024**
**£**
22,000
11,110
2,918
36,028
3,144
684
3,828
32,200
-
32,200
9,724
41,924|**Unrestricted**
**Funds**
**£**
-
9,957
912
10,869
455
690
1,145
9,724
-
9,724
-
9,724|**Restricted**
**Funds**
**£**
-
420
-
420
420
-
420
-
-
-
-
-|**Total**
**Funds**
**2023**
**£**
-
10,377
912|
|---|---|---|---|---|---|---|
|||||||11,289|
|||||||875
690|
|||||||1,565|
|||||||9,724
-|
|||||||9,724|
|||||||-|
|||||||9,724|
13
These accounts were approved by the Trustees on 9 September 2024 and are signed on behalf of the board by:
14
LONG
COVID
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1. COMPANY STATUS AND STATEMENT OF COMPLIANCE
The charity is a public benefit entity and is a registered charity in England and Wales.
These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland., the 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 IFRS 1021 (Charities SORP IFRS 10211.
2. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair value
through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Goin9 Concern
The accounts have been prepared on a going concern basis as. in the opinion of the Trustees the
Charity will continue in operation for the foreseeable future.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objertives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment
funds.
Income
All income is included in the statement ol Pinancial activities when the charity is legally entitled to the
income and the amount can be quantified with reasonable accuracy.
Voluntary income is received by way of grants, donations and gifts and is included in full in the
Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the
delivery of a specific performance by the charity. are recognised when the charity becomes
unconditionally entitled to the grant.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure represents amounts invoiced, includin9 value
added tax.
15
LONG
COVID
NOTES TO THE ACCOUNTS (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term. on a
straight-line basis.
Tangible assets
It is our policy to capitalise all items costing in excess of £500 which have a useful life exceeding one
year. Tangible assets (excluding investments) are initially recorded at cost and subsequently stated at
cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded èt the fair value at the date of revaluation less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gain5 and losses, unless it reverses a charge for impairment that has previously been
reco9nised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other reco9nised gains and losses.
except to which it offsets any previous revaluation gain, in which case the Ioss is shown within other
recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost of an asset. less its estimated residual value. over
the useful economic life of that asset as follows-
Fixtures and fittings- 25% straight line
Leasehold improvements- over the length of the lease
Impairment of fixed asset5
A review for indicators of impairment is carried out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of
an individual asset, an estirnate is made of the recoverable amount ol the cash-generating unit to
which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that
includes the asset and generates cash inflows that largely independent of the cash inflows from other
assets or groups of
assets.
16
LONG
COVID
NOTES TO THE ACCOUNTS (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a paty to the
contrattual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any
related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably,
the investment is subsequently measured at fair value with changes in fair value recognised in income
and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment
for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a
arket rate, in which case the asset is measured at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in
the statement of financial activities, with the exception of hedging instruments in a designated hedging
relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end ol each reporting date. If there is objective evidence of impairment, an
impèirment loss is recognised under the appropriate heading in the statement of financial activities in
which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial asset5 that are individually
Slgnificant. these are assessed individually for impairment. Other financial assets are either assessed
individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result
in a carrying amount of the financial asset that exceeds what the carrying amount would have been had
the impairment not previously been recognised.
Creditors
Creditors are recognised when the goods or service have been received and payment is crystallised.
They are valued at the amount invoiced, or expected to be invoiced, including value added tax.
Taxation
The Charity is exempt from corporation tax on its charitable activities.
17
|**Donations**
Donations
**Grants**
Philip King Trust
Sales of calendars and T shirts
Calendar Printing
T shirts and Badges
Website Costs
Other Costs
Governance costs
Training
Printing and postage|**Unrestricted**
**Funds**
**£**
11,110
-
11,110
**Unrestricted**
**Funds**
**£**
2,918
2,918
**Unrestricted**
**Funds**
**£**
441
243
684
**Unrestricted**
**Funds**
**£**
325
163
996
750
710
2,944|**Restricted**
**Funds**
**£**
-
22,000
22,000
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-
-
**Restricted**
**Funds**
**£**
-
-
-
-
200
200|**Total Funds**
**2024**
**£**
11,110
22,000
31,110
**Total Funds**
**2024**
**£**
2,918
2,918
**Total Funds**
**2024**
**£**
441
243
684
**Total Funds**
**2024**
**£**
325
163
996
750
910
3,144|**Total Funds**
**2023**
**£**
10,377|
|---|---|---|---|---|
|||||10,377|
|||||**Total Funds**
**2023**
**£**
912|
|||||912|
|||||**Total Funds**
**2023**
**£**
388
302|
|||||690|
|||||**Total Funds**
**2023**
**£**
729
50
96
-
-|
|||||875|
18
No remuneration or other benefits from employment with the charity or a related entity were received by the Trustees in 2024 (2023: nil).
||**Unrestricted**|**Restricted**||**Total Funds**|**Total Funds**||
|---|---|---|---|---|---|---|
||**Funds**|**Funds**||**2024**|**2023**||
||**£**|**£**||**£**|**£**||
|Independent Examiners fee|900||-|900||-|
## **9. ANALYSIS OF CHARITABLE FUNDS**
## **Unrestricted funds**
||**At 1 April**
**2023**|**Income**|**Expenditure**|**At 31 March**
**2024**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|General funds|9,724|14,028|3,628|20,124|
|**Restricted funds**|||||
||**At 1 April**
|**Income**
|**Expenditure**|**At 31 March**|
||**2023**|||**2024**|
||**£**|**£**|**£**|**£**|
|Philip King Trust|-|22,000|200|21,800|
The Funds from the Philip King Trust are to fund a series of leaflets and improvements to the Long Covid SOS’ website.
19