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2024-12-31-accounts

Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

Charity number: 1200671

LUPUS UK

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

LUPUS UK

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent auditors' report on the financial statements 7 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 29

Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

LUPUS UK

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Elaine Holland (Chair) Ricky Chotai (Vice Chair) Kevin Weston (Treasurer) Fiona Browne (appointed May 2025) Lauren Hutchinson (appointed May 2025) Matthew Stinchcombe Colin da Silva Jolene Cheung Julian Zbar Jacqueline Coulton Sue Grewcock Wendy Diment (Vice Chair) (resigned May 2025) Jenny Samantha Ainsworth (Secretary) (resigned May 2025) Shaista Ahamd (resigned May 2025) Edwina Wheeler (appointed September 2025)

Charity registered number 1200671 Principal office St. James House 27-43 Eastern Road Romford Essex RM1 3NH

Independent auditors Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Hertfordshire WD17 1HP

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LUPUS UK

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present the annual report and the audited accounts of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies and comply with the charity’s Constitution and applicable law.

The Charity

Lupus UK is the national charity for all people affected by lupus in England, Wales, Scotland and Northern Ireland. Its objectives are:

The original charity, British SLE Aid Group was founded in 1978 and registered as Lupus UK from 1996 with the new Constitution approved on 14 October 1995. The Constitution has been amended periodically since then.

Vision

A world where people with lupus can lead full and active lives.

Mission

To empower people by providing information about lupus and offering support, so their voices are heard and their condition diagnosed and managed effectively.

Objectives

Lupus UK aims to support people affected by lupus, providing information, advice, and welfare support, raising awareness, and funding research to improve understanding and care for those living with lupus. We work to educate both the public and the medical community about lupus, and advocate for better care.

Trustees confirm they have had due regard to the Charity Commission’s guidance on public benefit while reviewing Lupus UK's aims and planning future activities.

Trustees

The Trustees of the CIO who served during the year ended 31 December 2024 are listed on page one.

The governing documents of Lupus UK’s (CIO) allows for a maximum of twelve trustees, appointed by the Board. Trustees normally serve a three-year term before being eligible for re-election or stepping down.

The Board met formally four times during the year, with additional meetings held as required. A number of committees continue to support the Board by focusing on priority areas such as Finance & Resources, Welfare.

Trustees Induction and Training

New trustees receive a full induction, including a welcome pack, a meeting with the CEO and Senio Leadership Team and Chair, and training on the charity’s objectives, governance framework, and financial responsibilities. Trustees are encouraged to attend relevant training courses and seminars to keep their knowledge up to date.

Indemnities

The charity maintains trustee indemnity insurance to cover any personal liability arising from their duties, in accordance with the charity’s constitution and statutory requirements.

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LUPUS UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Management

The day to day management of the charity is delegated to the Chief Executive Officer. In February 2024, the Trustees appointed Caroline Olshewsky as CEO, who took up her role on 18th March 2024. She is responsible for the staff team and the running of the National Office, reporting to the Trustees. Caroline brings substantial expertise from her career in the charitable sector, especially in strategic development and rare disease advocacy. The Board, staff, and wider lupus community have been delighted to welcome Caroline, whose energy and vision will help guide Lupus UK into its next phase.

The Board wishes to record its sincere thanks to Paul Howard, who served as Chief Executive Officer from March 2020 until early 2024, having previously supported Lupus UK in a variety of capacities since 2011. During his tenure, Paul made a significant contribution to enhancing the charity’s digital engagement, fundraising, and information resources. He also played a key role in diversifying the Board to better reflect the community we serve, overseeing the charity’s incorporation, and developing new roles within the organisation – including a Young People and Families Officer and a Health Information Officer.

Notably, Paul’s leadership during the Covid-19 pandemic ensured Lupus UK remained a vital resource for our community throughout an especially challenging period, helping to provide services, support, and clear information when it was needed most.

Key Management Remuneration

The remuneration of key management personnel is reviewed and benchmarked against the voluntary sector. It is set by a Remuneration Committee, comprising trustees and supported by a volunteer HR professional.

Funding and Donations

The charity’s income is from a wide variety of sources, with generous support received from fundraising events, challenges, and donations made in honor of loved ones. Lupus UK is careful not to rely on any single source of income. We do not use personal supporter information for marketing purposes and do not employ call centers for fundraising.

We are grateful to the many individuals, families, companies, trusts and community groups whose valued donations and fundraising efforts continue to make a real difference to people affected by lupus.

In October 2024, our long serving Fundraising Manager, Janine Hirsch, retired. The Trustees wish to record their thanks to Janine for her dedication and many years of service in supporting the charity’s fundraising activities. A structured handover took place with Lisa Denison, our Development Manager, appointed September 2024 to ensure continuity of fundraising and to build on the strong foundations established.

Activities

Through out 2024. Lupus UK continued to deliver a wide range of activities to support people affected by Lupus, raise awareness of the condition and fund Research and specialist nurses. The charity's work focused on providing high quality information and support, engaging with the Lupus community and promoting the understanding of lupus among healthcare professionals and the public.

The following highlights demonstrates the impact of lupus activities during the year and the progress made towards achieved the objectives:

Key Achievements in 2024

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LUPUS UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Research Grant Making Activities

In 2024, Lupus UK was pleased to continue its commitment to research and patient support through the awarding of grants totalling £152,493, following recommendations from the Medical & Scientific Advisory Panel. These grants supported projects focused on improving understanding of Lupus mechanisms, developing new approaches to treatment and monitoring, addressing delays in diagnosis, and improving knowledge of longterm outcomes for people living with the disease.

Alongside research projects, the charity also funds Specialist Lupus Nurses within the NHS. The trustees also approved a total of £385,857 for with a commitment that these posts will transition to permanent funding by Hospital Trusts after the initial five-year period. At the end of 2024, five Specialist Lupus Nurses were being funded or had funding agreed.

At the end of 2024, the charity’s total commitment to fund research and nursing grants over the next five years stood at £842,497 We continue to receive more applications than funds available, and therefore prioritise support for:

Lupus UK is proud to remain a partner of the National Institute for Health Research (NIHR).

The Trustees continue to manage the charity prudently, with all grant commitments approved only when funds are already held and allocated into a special reserve.

Public Benefit

Throughout 2024, Lupus UK continued to provide free information and support to anyone affected by Lupus, while working with the medical profession to raise awareness and improve patient care. Membership remains open to all, and the trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit when planning the charity’s activities. The charity also works collaboratively through umbrella organisations such as National Voices, RAIRDA and ARMA to influence policy and strengthen research for rare autoimmune rheumatic diseases.

Financial Review Of Accounts

The state of the charity’s affairs as of 31 December 2024, with comparative information for the previous year, is shown in the accompanying financial statements.

Total funds received during the year were £1,926,506 against £1,197,827 in the previous year. Voluntary income (Donations, Membership, and Gift Aid, see note 3) increased by £722,330, driven largely by a rise in legacy income of £739,723. Donations were slightly lower than the previous year by £20,786. Investment income grew by £11,701, while income from Charitable Activities (Membership) reduced by £42,713. Other trading activities (Fundraising and sales) increased by £37,361 compared with 2023.

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Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

LUPUS UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Total expenditure was £1,148,372, compared to £856,687 in the previous year. This increase of £291,685 reflects growth in fundraising activity and charitable support. Grants awarded also rose substantially, from £101,723 to £201,092.

The overall surplus of income over expenditure was £778,134, compared with £341,140 in 2023, before accounting for investment gains. The value of investments at 31 December 2024 was £1,230,063, which includes reinvested dividends of £21,698 and a net increase in value of £25,649 during the year. The trustees remain confident in the long-term growth of the investment portfolio and anticipate continued strengthening of the charity’s financial position in the years ahead.

Reserves Policy

The charity’s reserves on 31 December 2024 were £2,194,826 (2023: £1,391,043). LUPUS UK requires reserves to maintain its current activities and provide funding committed for longer-term projects, ensuring these can be progressed to completion. Reserves also enable the trustees to meet their day-to-day responsibilities and ensure that the charity can continue to operate as a going concern.

The trustees have reviewed their policy in respect of reserves and continue to aim to retain a minimum sum equivalent to approximately one year’s expenditure, which will be held on deposit at the best available rate. The reserves as at 31 December 2024 exceed this minimum level and therefore provide a strong financial foundation for the charity’s ongoing work and future commitments.

Risk Management

In 2024, the Finance and Resources Committee continued to review and update the charity’s Risk Register, helping Trustees and the CEO identify key operational, financial, governance, and regulatory risks. Controls are in place to mitigate risks, including multiple authorisations for large payments and ongoing monitoring of compliance with data protection requirements such as GDPR.

Volunteer Involvement

In 2024, LUPUS UK was once again supported by a dedicated community of volunteers, from those taking part in research opportunities to the many Group Chairs, Regional Coordinators and Coffee & Chat Hosts who provide vital local support. The Trustees are extremely grateful for their commitment and warmly welcome new offers of help from those wishing to support the charity.

Strategic Review and Future Plans

As part of our 35th anniversary in 2025, Lupus UK is undertaking a comprehensive strategic review to align our objectives with the evolving needs of the lupus community. This review will focus on:

We are committed to ensuring that the voices of those affected by lupus guide our strategic direction, and we will continue to engage with our community throughout this process.

Acknowledgments

We extend our heartfelt gratitude to all our supporters, volunteers, and partners for their unwavering commitment to our cause. Together, we continue to make a meaningful impact in the lives of those affected by lupus.

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LUPUS UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of Trustees' Responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Hillier Hopkins LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Ricky Chotai (Vice Chair) (Chair of Trustees) Date: 02-10-2025 | 11:52 BST

Kevin Weston (Treasurer) Date: 02-10-2025 | 14:45 BST

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LUPUS UK

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUPUS UK

Opinion

We have audited the financial statements of Lupus UK (the 'charity') for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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LUPUS UK

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUPUS UK (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

LUPUS UK

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUPUS UK (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to

a material misstatement in the financial statements, including but not limited to, the Companies Act 2006 and relevant tax legislation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

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LUPUS UK

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUPUS UK (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Hillier Hopkins LLP

Chartered Accountants

Radius House 51 Clarendon Road

Watford

Hertfordshire WD17 1HP

Date: 02-10-2025 | 17:29 BST

Hillier Hopkins LLP is eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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Docusign Envelope ID: 0442D862-AEAD-40E5-9220-B5F5EF917F9F

LUPUS UK

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Donations and legacies:
3
. Other donations and legacies
Charitable activities:
4
. Other charitable activities
Other trading activities:
5
. Other trading activities
Investments:
6
. Other investments
Total income
Expenditure on:
Raising funds:
Charitable activities:
8
. Other charitable activities
Total expenditure
Net (expenditure)/income before net
gains on investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
1,000
-
-
-
1,000
12,280
12,280
(11,280)
-
(11,280)
41,257
(11,280)
29,977		 Unrestricted
funds
2024
£
1,391,936
112,820
375,245
45,505
1,925,506
1,136,092
1,136,092
789,414
25,649
815,063
1,349,786
815,063
2,164,849		 Total
funds
2024
£
1,392,936
112,820
375,245
45,505
1,926,506
1,148,372
1,148,372
778,134
25,649
803,783
1,391,043
803,783
2,194,826		 Total
funds
2023
£
670,606
155,533
337,884
33,804
1,197,827
856,687
856,687
341,140
22,736
363,876
1,027,167
363,876
1,391,043

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 29 form part of these financial statements.

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LUPUS UK

BALANCE SHEET AS AT 31 DECEMBER 2024

2024 2024 2023 2023
Note £ £
Fixed assets
Tangible assets 13 7,677 2,019
Investments 14 1,230,063 1,182,716
1,237,740 1,184,735
Current assets
Stocks 15 14,577 16,702
Debtors 16 468,941 388,243
Cash at bank and in hand 1,557,401 896,510
2,040,919 1,301,455
Current liabilities
Creditors: amounts falling due within one
year 17 (790,046) (615,252)
Net current assets 1,250,873 686,203
Total assets less current liabilities 2,488,613 1,870,938
Creditors: amounts falling due after more
than one year 18 (293,787) (479,895)
Net assets excluding pension asset 2,194,826 1,391,043
Total net assets 2,194,826 1,391,043
Charity funds
Restricted funds 19 29,977 41,257
Unrestricted funds 19 2,164,849 1,349,786
Total funds 2,194,826 1,391,043
The
financial		 statements were approved and
authorised		 for
issue		 by
the		 Trustees
on
_______and signed on their behalf
02-10-2025		 14:45 BST by:

Kevin Weston (Treasurer) (Chair of Trustees)

The notes on pages 14 to 29 form part of these financial statements.

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LUPUS UK

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Payments to acquire fixed assets investments
Interest Received
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 14 to 29 form part of these financial statements		 2024
£
647,321
21,698
(10,256)
(21,698)
23,826
13,570
-
660,891
896,510
1,557,401		 2023
£
(138,420)
23,954
(2,520)
(23,954)
9,850
7,330
-
(131,090)
1,027,600
896,510

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

The charity is registered as a Charitable Incorporated Organisation with Charity Commission in England and Wales. The registered office is shown on the information page of the financial statements.

The charity began operating under its new registration from 1 January 2024, with the old registration (Charity number 1051610) ceasing on same date and all assets and liabilites transferred over.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements are prepared on the accruals basis and under the historical cost convention with the exception of investments, which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice, Accounting Standards and Reporting by Charities SORP (FRS102) effective 1 January 2019, and applicable accounting standards and the Charities Act 2011.

LUPUS UK is a charity registered in England and Scotland. The address of the charity is detailed on page one of the accounts. The nature of the charity's operations is to help relieve persons who have lupus and to advance the education of the public and the medical profession in all aspects of the disease.

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.2 Incoming resources

Donations & Legacies, Charitable Activities, Investments and Other Trading Activities are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors conditions have not been fulfilled, then the income is deferred. The income and fundraising ventures are shown gross, with the associated costs included in fundraising costs. Grants are treated as income irrespective of the source of the grant.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Resources expended: Cost of generating voluntary income, Fundraising costs and Charitable activities are included in the Statement of Financial Activities on an accruals basis, inclusive of the disallowable portion of VAT.

Expenditure which is directly attributable to specific activities, has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.

Grants payable are charged in the year when the conditions attaching to the grant is fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.4 Interest receivable

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 institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings - 33%

2.6 Investments

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at there settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight-line basis over the lease term.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.14 Estimates and judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies

Donations
Legacies
Grants
Total 2024
Total 2023
4.
Income from charitable activities
Membership subscriptions
5.
Income from other trading activities
Income from fundraising events
Fundraising events		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
1,000
89,905
-
1,298,278
-
3,753
1,000
1,391,936
-
670,606
Unrestricted
funds
2024
£
112,820
Unrestricted
funds
2024
£
367,494		 Total
funds
2024
£
90,905
1,298,278
3,753
1,392,936
670,606
Total
funds
2024
£
112,820
Total
funds
2024
£
367,494		 Total
funds
2023
£
111,691
558,555
360
670,606
Total
funds
2023
£
155,533
Total
funds
2023
£
329,108

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. Income from other trading activities (continued)

Income from non charitable trading activities

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Charity trading income 7,751 7,751 8,776

6. Investment income

Unrestricted
funds
2024
£
Income from listed investments
21,698
Bank interest
23,807
45,505
Analysis of grants
Grants to
Institutions
2024
£
Costs relating to grants
(201,092)
Total 2023
(101,723)		 Total
funds
2024
£
21,698
23,807
45,505
Total
funds
2024
£
(201,092)
(101,723)		 Total
funds
2023
£
23,954
9,850
33,804
Total
funds
2023
£
(101,723)

7. Analysis of grants

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Analysis of expenditure on charitable activities

Summary by fund type

Direct costs - charitable activities
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
12,280
1,136,092
-
856,687		 Total
2024
£
1,148,372
856,687		 Total
2023
£
856,687

9. Analysis of expenditure by activities

Costs relating to charitable
activities
Total 2023		 Activities
undertaken
directly
2024
£
7,594
4,548		 Grant
funding of
activities
2024
£
(201,092)
(101,723)		 Support
costs
2024
£
1,341,870
953,862		 Total
funds
2024
£
1,148,372
856,687		 Total
funds
2023
£
856,687

10. Auditors' remuneration

2024 2023
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 6,550 6,225
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above 1,110 602

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. Staff costs

The average number of persons employed by the Charity during the year was as follows:

Fundraising
Support		 2024
No.
5
7
12		 2023
No.
4
5
9

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 - 1

The Charity considers its key management personnel comprise the trustees and Chief Executive Officer. The total employment benefits including employer pension contributions of key management personnel were £57,292 (2023: £69,840).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 December 2024, expenses totalling £ 4,211 were reimbursed or paid directly to trustees (2023: £8,588)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
14.
Fixed asset investments
Cost or valuation
At 1 January 2024
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Office
equipment
£
49,284
10,256
59,540
47,265
4,598
51,863
7,677
2,019
Listed
investments
£
1,230,063
1,230,063
1,230,063
1,230,063

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Stocks

2024 2023
£ £
Goods for resale 14,577 16,702

16. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
260
41,503
427,178
468,941		 2023
£
57
2,870
385,316
388,243

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Research grants
Accruals and deferred income
18.
Creditors: Amounts falling due after more than one year
Research grants		 2024
£
202,411
9,483
548,710
29,442
790,046
2024
£
293,787		 2023
£
35,986
9,347
563,695
6,224
615,252
2023
£
479,895

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Statement of funds

Statement of funds - current year

Balance at 1
January
2024
£
Income
£
Expenditure
£
Unrestricted funds
Reserves
1,349,786
1,925,506
(1,136,092)
Unrestricted funds comprise those funds which the Trustees are free to
charitable objectives.
Restricted funds
Helen Rayner Memorial Fund
10,470
-
-
Naomi Tate Memorial
16,507
-
-
W M Mann Foundation
1,000
-
(1,000)
Access Foundation
2,400
-
(2,400)
The Inman Charity
6,500
-
(6,500)
Johnson & Johnson, formerly
Janssen-Cilag Ltd
4,380
-
(2,380)
WM Mann Foundation 2025
-
1,000
-
41,257
1,000
(12,280)
Total of funds
1,391,043
1,926,506
(1,148,372)		 Gains/
(Losses)
£
Balance at
31
December
2024
£
25,649
2,164,849
use in accordance with the
-
10,470
-
16,507
-
-
-
-
-
-
-
2,000
-
1,000
-
29,977
25,649
2,194,826		 Balance at
31
December
2024
£
2,164,849
29,977
2,194,826

Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives.

Purpose of restricted funds:

The Helen Rayner Memorial Funds is to be used to support training days for GPs.

The Naomi Tate Memorial Fund (LUPUS UK) is to be used for research relating to information/publications in respect of lupus and pregnancy.

Johnson & Johnson, formerly Janssen-Cilag Ltd is to be used for information booklets published in 2024.

The WM Mann Foundation 2025 is to be used in Scotland for FLIP study and supporting members with magazines.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General funds
Restricted funds
Helen Rayner Memorial Fund
Naomi Tate Memorial
W M Mann Foundation
Access Foundation
The Inman Charity
Johnson & Johnson, formerly
Janssen-Cilag Ltd
Total of funds		 Balance at
1 January
2023
£
1,000,191
10,470
16,507
-
-
-
-
26,977
1,027,168		 Income
£
1,183,547
-
-
1,000
2,400
6,500
4,380
14,280
1,197,827		 Expenditure
£
(856,688)
-
-
-
-
-
-
-
(856,688)		 Gains/
(Losses)
£
22,736
-
-
-
-
-
-
-
22,736		 Balance at
31
December
2023
£
1,349,786
10,470
16,507
1,000
2,400
6,500
4,380
41,257
1,391,043

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

20. Summary of funds

Summary of funds - current year

Balance at 1
January
2024
£
General funds
1,349,786
Restricted funds
41,257
1,391,043
Summary of funds - prior year
Balance at
1 January
2023
£
General funds
1,000,191
Restricted funds
26,977
1,027,168		 Income
£
1,925,506
1,000
1,926,506
Income
£
1,183,547
14,280
1,197,827		 Expenditure
£
(1,136,092)
(12,280)
(1,148,372)
Expenditure
£
(856,688)
-
(856,688)		 Gains/
(Losses)
£
25,649
-
25,649
Gains/
(Losses)
£
22,736
-
22,736		 Balance at
31
December
2024
£
2,164,849
29,977
2,194,826
Balance at
31
December
2023
£
1,349,786
41,257
General funds
Restricted funds
1,391,043

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

21. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
7,677
-
1,230,063
29,977
2,010,942
-
(790,046)
-
(293,787)
29,977
2,164,849		 Total
funds
2024
£
7,677
1,230,063
2,040,919
(790,046)
(293,787)
2,194,826

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Trade investments
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Endowment
funds
2023
£
-
1,182,716
(1,182,716)
-
-
-
-		 Restricted
funds
2023
£
-
-
-
41,257
-
-
41,257		 Unrestricted
funds
2023
£
2,019
-
1,182,716
1,260,198
(615,252)
(479,895)
1,349,786		 Total
funds
2023
£
2,019
1,182,716
-
1,301,455
(615,252)
(479,895)
1,391,043

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LUPUS UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest receivable
Gains on investments
Dividends received
Transfer to investments
Decrease/(increase) in stocks
Increase in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities		 2024
£
803,783
4,598
(23,826)
(25,649)
(21,698)
-
2,125
(80,698)
(24,516)
634,119		 2023
£
363,876
3,067
(9,850)
(22,736)
(23,954)
(50,000)
(2,957)
(315,019)
(80,846)
(138,419)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

23. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2024
£
1,557,401
1,557,401		 2023
£
896,510
896,510

24. Analysis of changes in net debt

Cash at bank and in hand At 1
January
2024
£
896,510
896,510		 Cash flows
£
660,891
660,891		 At 31
December
2024
£
1,557,401
1,557,401

25. Pension commitments

The charity operates defined contribution pension schemes. The assets of the schemes are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions payable by the charity to the fund and amounted to £14,100 (2023 - £14,666). Contributions were payable to the fund at the balance sheet date of £nil (2023: £nil).

26. Related party transactions

There were no related party transactions during the year (2023: £nil), other than expenses paid to trustees as per note 12.

Page 29