**Charity registration number 1204473 (England and Wales)**
**UNITED KINGDOM THALASSAEMIA SOCIETY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024**
## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** A S Ghattaura A Bandoui O Stavrou-Cooper R Bathia (Appointed 1 April 2025) C Christodoulou R D M Maharaj Z Gokturk J White H Chandler (Appointed 8 September 2025) R Osman **Charity number** 1204473 **Registered office** 19 The Broadway London United Kingdom N14 6PH **Auditor** Azets Audit Services 2nd Floor Regis House 45 King William Street London United Kingdom EC4R 9AN **Bankers** Santander The Business Banking Centre 301 Vincents Street Glasgow United Kingdom G2 5NT National Westminster Bank Plc Southgate Branch 12 The Broadway Southgate London United Kingdom N11 6QF
## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 8|
|Statement of Trustees responsibilities|9|
|Independent auditor's report|10 - 13|
|Statement of financial activities|14|
|Balance sheet|15|
|Notes to the financial statements|16 - 23|
## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
The trustees present their report with the financial statements of the charity for the period ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
These statements relate to the funds of the society, its core activities, stakeholders, engagement and collaboration in research and development.
## **History and background of the society**
The United Kingdom Thalassaemia Society (UKTS) is one of the oldest patient organisations in the thalassaemia community, having been a registered charity in the United Kingdom since 1978. The society is run through the combined efforts of permanent & part-time staff and non-paid volunteers, overseen by a Board of Trustees of only individuals living with thalassaemia and parents of children/adults with thalassaemia.
Over the years the society has expanded its reach across the United Kingdom, with total membership exceeding 1,500 with members from across the country. The society amassed a wealth of experience in thalassaemia and has a long track record of successfully engaging with individuals living with and families affected by thalassaemia, health care professionals and various bodies/stakeholders to advance the quality of life and life expectancy of every individual with thalassaemia.
In 2019, UKTS established its own All Party Parliamentary Group for thalassaemia dedicated to advancing the interests with regards to care and policy. In the interest of those living with the condition in the UK.
Thalassaemia is a hereditary condition affecting the genes responsible for production of red blood cells. People with the condition cannot produce enough haemoglobin in their red blood cells and are dependent on regular blood transfusions throughout their lives. If left untreated, a child born with thalassaemia would die in early infancy.
Thalassaemia developed as an evolutionary response to malaria which is why it mainly affects those coming from regions such as Asia and Southeast Asia, the Mediterranean, South America, the Caribbean, Northern and Central Africa and the Middle East. Whilst initially prevalent in those regions, due to the migration of communities over the centuries, anyone can be at risk. In fact, every year 75,000 babies are born with thalassaemia major worldwide.
It is important to note, that a person only inherits the major form of the condition if both parents carry the thalassaemia gene or trait. While being a carrier does not cause any major health problems, if two carriers have a baby, there is a 25% chance the baby could inherit the more serious form of the condition; beta thalassaemia major. With better education of those at risk and more effective screening, this inherited condition could be eradicated.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **Objectives and activities**
The principal activities of the society continued to be that of:
- providing support to individuals and families living with or affected by thalassaemia;
- advancing the education of the general public, including health care professionals, in all aspects of thalassaemia care and related or similar conditions in particular from screening to daily treatment to curative therapies.
- producing publications and resources to target all stakeholders
- promoting and coordinating research into its causes, treatment, screening, curative therapies and disseminating the useful results of such research;
- organising national events including medical conferences, training days and support groups; and
- raising funds for vital medical and non-medical research and life-saving equipment that improves the quality of life and reduces morbidity and mortality of persons with thalassaemia.
- Advocating for the thalassaemia community on a governmental, political and national and international level.
- Striving for clinical excellence and access to equal quality care throughout the UK.
The Trustees have paid due regard to Guidance on public benefit issued by the Charity Commission and ensure that the activities undertaken are in line with the charitable objective of UKTS.
The Trustees of the UK Thalassaemia Society wish it to be recognised that all the activities mentioned below were undertaken and/or organised by the UKTS team (comprising of trustees, UKTS staff members and volunteers).
The team would like to thank everyone for continuing to support the work of the charity, we are grateful to each and every member of the thalassaemia community. There were several new activities introduced in 2022 which were scheduled to encourage members back outdoors. Virtual meetings were maintained as it did help to connect with more of the members who were previously inaccessible due to location constraints. We were therefore able to continue serving our members and the whole thalassaemia community. We also worked hard building and developing collaborations with the global community and supporting the international blood donation campaigns.
We also continued the work done alongside the Sickle Cell Society and Public Health England for the newborn screening contract. In addition, we were able to contribute towards e-learning resources developed for the medical and teaching communities.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **Objectives and activities (continued)**
Additionally, the society hosted and participated in numerous meetings during the period in review, some of which are as follows:
- Patient meetings and AGM
- Regular meetings with consultant haematologists from the various HCCs
- All-party parliamentary group (APPG) meetings,
- Community group meetings
- National Institute for Clinical Excellence (NICE) meetings
- UK Forum on Haemoglobin Disorders committee and academic meetings
- Clinical Reference Group (CRG) for haemoglobinopathies
- National Haemoglobinopathy Panel meetings
- NHS Sickle cell and thalassaemia screening programme committee and advisory meetings
- NHS Blood and Transplant stakeholder meetings
- Rare Disease Patient Advocacy Group
- Sickle cell and thalassaemia nurses, midwives and allied professionals’ meetings
- Prescription Charges Coalition meetings
- Direct meetings with unit heads treating patients throughout the UK
- Peer Reviews across hospitals in England and Wales
We were also able to:
- Engage in new online awareness campaigns for thalassaemia
- Hold regular Webinars to educate our members on various topics related to thalassaemia.
- Collaborate with the Department for Work and Pensions on Personal Independent Payment (PIP) for people with Thalassaemia
- Increase awareness through social media coverage
- Contribute towards educational support to clinicians, nurses, counsellors, medical students and similar professionals
- Regular Members Update via email, outlining the work undertaken and upcoming events scheduled.
- A fundraising Club Night arranged in November 2024 which raised awareness and funds for the UKTS and brought the community together.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **Objectives and activities (continued)**
## **Educational resources**
Several publications have been produced over the years which have been used for awareness and information. In 2023, our team undertook the mammoth task of creating the 4[th] Edition of The Standards of Care for Thalassaemia with contribution from many specialist haematology doctors from around the country. Our website www.ukts.org is regularly being updated with educational material.
## **Emails**
We send regular email updates to our members on our mailing list including patients, parents, healthcare professionals and various organisations. The updates include updates from health care professionals (including information on guidelines, shielding, vaccines), clinical trials in thalassaemia, treatment options, health and wellbeing and patient stories.
## **International Thalassaemia Day:**
The UKTS celebrated International Thalassaemia Day on 8[th] May 2024.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
**UKTS is a member of the following organisations and has continued to play an active role in their operations:**
|All-party Parliamentary Group for thalassaemia
ENERCA
(European
Network
for
Rare
&
Congenital Anaemias)
EPPOSI
(European
Platform
for
Patients’
Organisations, Science & Industry)
EURORDIS (Rare Diseases Europe)
Genetic Alliance UK
IAPO
(International
Alliance
of
Patient
Organisations)||
|---|---|
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
Infected blood Inquiry National Haemoglobinopathy Panel NHS BT Prescription Charges Coalition Rare Disease UK SHCA (Specialised Healthcare Alliance) UK Forum on haemoglobin disorders
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **Financial review**
The charity's principal source of funding comes from grants and by the voluntary contribution of members and public. The charity also raises funds by organising events and freelance work for pharmaceutical companies, this is detailed in the accounts. In addition, the society received funds from its working contract with the NHS Sickle Cell and Thalassaemia Screening Programme and rental income from property investments.
The income received is spent on research and educational projects and are in line with the charity’s objectives. The income tax is recoverable in relation to the donations received with Gift Aid or any deeds of covenant which is recognised at the time of donation.
The results for the charity show total income of £172,603 (2023: £200,128). The charity has seen income heading the right way with screening, grants and donations being the main contributors.
At, 31 December 2024, the total funds (reserves) of the charity were £1,543,434 (2023: £1,571,835). We have unrestricted funds of £1,428,921 (2023: £1,457,322). The trustees view the period ended December 2024 as another successful one, with the society being able to fulfil its objectives towards its members while maintaining the financial position and safeguard the long-term viability of the charity.
The Trustees have assessed the major risks to which the charity is exposed to and are satisfied that there are systems in place to mitigate exposure to the major risks.
## **Investment policy**
We had made no investments in 2024.
## **Reserve policy**
The Trustees are responsible for overseeing the financial activities of the society and ensuring the charity maintains a strong financial position and an adequate level of free reserves.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and nine month's expenditures. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period.
## **Plans for the future**
Going forward, the charity will be focused on restructuring and adapting to better serve the needs of patients and their families. The team will be building stronger partnerships with healthcare providers and other organizations to ensure the long-term sustainability of the charity’s mission.
The trustees also committed to increasing awareness and outreach programs to help ensure that thalassaemia is recognized and understood in the wider population. One way to increase commitment to these programs is by addressing the wider determinants of health , including social and economic factors, that can impact people's ability to access and understand health information.
Increasing community-based initiatives will also be effective and important to improve understanding of the condition among families, healthcare professionals and educators, who can play a key role in raising awareness and ensuring that people with thalassaemia receive appropriate care and support. Additionally, public health campaigns that focus on the importance of carrier screening and genetic counselling can help to reduce the incidence of thalassaemia in future generations.
The trustees are also mindful of the impact that thalassaemia has on patients and the gaps still needed to be addressed. There will also be more focus on research towards finding solutions to the issues now being identified for the aging population as well as the ones being reported within the younger cohort of patients.
The team at UKTS will continue to work tirelessly to support patients with thalassaemia and will stay true to our values of compassion, quality, and integrity and treat each patient with the respect and care they deserve.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **Structure, governance and management**
The charity was established by a charitable trust deed dated 1 March 1978.
The Trustees who served during the period and up to the date of signature of the financial statements were: G Theophanous (Resigned 31 March 2025) A S Ghattaura A Bandoui O Stavrou-Cooper R Bathia (Appointed 1 April 2025) C Christodoulou R D M Maharaj Z Gokturk J White H Chandler (Appointed 8 September 2025) R Osman
The charity was registered on 24th August 2023, however the operations commenced on the 1 January 2024.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
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 and 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 the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that 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.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF UNITED KINGDOM THALASSAEMIA SOCIETY**
## **Opinion**
We have audited the financial statements of United Kingdom Thalassaemia Society (the ‘charity’) for the period ended 31 December 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including 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).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the Charities Act 2011.
## **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 _Auditor's 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 UK, including the FRC’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.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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 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 in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF UNITED KINGDOM THALASSAEMIA SOCIETY**
## **Responsibilities of Trustees**
As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they 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 cease operations, or have no realistic alternative but to do so.
## **Auditor's 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 auditor's 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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF UNITED KINGDOM THALASSAEMIA SOCIETY**
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
## **Other matters**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) 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 now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
## **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 auditor's 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 the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF UNITED KINGDOM THALASSAEMIA SOCIETY**
## **John Howard (Senior Statutory Auditor)**
## **For and on behalf of Azets Audit Services, Statutory Auditor Chartered Accountants**
2nd Floor Regis House 45 King William Street London EC4R 9AN
13 October 2025
Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**5**
28,184
-
Charitable activities
**2**
56,051
-
Other trading activities
**3**
30,689
-
Investments
**4**
50,410
-
Other income
7,269
-
**Total income**
172,603
-
**Expenditure on:**
Raising funds
20,805
-
Charitable activities
**6**
180,199
-
**Total expenditure**
201,004
-
Net gains/(losses) on
investments
-
-
**Net income/(expenditure) and**
**movement in funds**
(28,401)
-
**Reconciliation of funds:**
Fund balances at 1 January
2024
1,457,322
114,513
**Fund balances at 31**
**December 2024**
1,428,921
114,513|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
28,184
53,155
-
56,051
78,627
-
30,689
11,803
-
50,410
42,855
-
7,269
13,688
-
172,603
200,128
-
20,805
20,969
-
180,199
157,374
-
201,004
178,343
-
-
70,000
-
(28,401)
91,785
-
1,571,835
1,365,537
114,513
1,543,434
1,457,322
114,513|**Total**
**2023**
**£**
53,155
78,627
11,803
42,855
13,688|
|---|---|---|
|||200,128|
|||20,969
157,374|
|||178,343|
|||70,000|
|||91,785
1,480,050|
|||1,571,835|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|**2024**
**Notes**
**£**
**£**
**Fixed assets**
Tangible assets
**11**
80,342
Investment properties
**12**
1,065,405
1,145,747
**Current assets**
Debtors
**13**
16,660
Cash at bank and in hand
388,277
404,937
**Creditors: amounts falling due within**
**one year**
**14**
(7,250)
Net current assets
397,687
**Total assets less current liabilities**
1,543,434
**Income funds**
Restricted funds
**16**
114,513
Unrestricted funds
1,428,921
1,543,434
The financial statements were approved by the Trustees on .........................|**2023**
**£**
**£**
82,587
1,065,405
1,147,992
27,341
402,831
430,172
(6,329)
423,843
1,571,835
114,513
1,457,322
1,571,835|**2023**
**£**
**£**
82,587
1,065,405
1,147,992
27,341
402,831
430,172
(6,329)
423,843
1,571,835
114,513
1,457,322
1,571,835|
|---|---|---|
|||1,147,992
423,843|
|||1,571,835|
|||114,513
1,457,322|
|||1,571,835|
||||
..............................
## **Trustee**
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **1.1 Accounting convention**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)'. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds are amounts set aside by the trustees for specific purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **1.4 Incoming resources**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Cash donations are recognised on receipt.
Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Subscriptions are included on a receipts basis on the grounds that any accruals would be immaterial.
Income from fundraising activities is recognised on receipt or otherwise if the charity has been notified of an impending receipt, the amount is known and the receipt is expected.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Resources expended on charitable activities comprise those meeting the charitable objective. Such costs include direct costs together with those identifiable support costs incurred that enable those activities to be undertaken.
Support costs are costs incurred in the management and administration of the charity. These costs are incurred so that the charity can operate and meet its statutory and constitutional obligations.
Support costs are allocated where appropriate to an activity based on use of resources. Staff costs where appropriate have been allocated on a consistent basis.
Grants offered subject to conditions which have not been met at the period end date are noted as a commitment but not accrued as expenditure.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% on straight line basis on building Fixtures, fittings & equipment 15% to 33.33% per annum on reducing balance basis
The charity owns a freehold building which consists of a ground floor used as an office and the two flats above the office which generate investment rental income.
## **1.7 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.8 Employee benefits**
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the year in which the service is received.
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **2 Income from charitable activities**
||||**Unrestricted**|**Unrestricted**|**Unrestricted**|
|---|---|---|---|---|---|
|||||**funds**|**funds**|
|||||**2024**|**2023**|
|||||**£**|**£**|
||Performance related grants|||56,051|78,627|
|**3**|**Income from other trading activities**|||||
||||**Unrestricted**||**Unrestricted**|
|||||**funds**|**funds**|
|||||**2024**|**2023**|
|||||**£**|**£**|
||Fundraising events|||30,689|11,803|
|**4**|**Income from investments**|||||
||||**Unrestricted**||**Unrestricted**|
|||||**funds**|**funds**|
|||||**2024**|**2023**|
|||||**£**|**£**|
||Rental income|||50,410|42,855|
|**5**|**Donations and legacies**|||||
|||**Unrestricted**|**Restricted**|**Total**|Total|
|||**funds**|**funds**|||
|||**2024**|**2024**|**2024**|2023|
|||**£**|**£**|**£**|£|
||Donations and gifts|13,327|-|13,327|26,921|
||Grants receivable|10,200|-|10,200|22,000|
||Membership fees|4,657|-|4,657|4,234|
|||28,184|-|28,184|53,155|
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **6 Charitable activities**
|**Direct costs**
**2024**
**£**
Staff costs
118,748
Depreciation and impairment
-
Direct costs
7,250
Premises
12,369
Travel
2,081
Grant funding activites
5,617
General
-
146,065
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets|**Support**
**costs**
**2024**
**£**
-
5,553
-
-
-
-
28,581
34,134|**Total**
**2024**
**£**
118,748
5,553
7,250
12,369
2,081
5,617
28,581
180,199
**2024**
**£**
-
5,553|**Total**
**2023**
**£**
105,046
6,300
6,369
7,007
4,250
9,700
18,702|
|---|---|---|---|
||||157,374|
||||**2023**
**£**
-
6,300|
## **8 Trustees**
None of the trustees received any remuneration during the period (2023: none of the trustees received any remuneration during the year).
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **9 Employees**
## **Number of employees**
The average monthly number of employees during the period was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**Number**
3
**2024**
**£**
115,332
1,577
1,839
118,748|**2023**
**Number**
3|
|---|---|---|
|||**2023**
**£**
94,000
9,311
1,735|
|||105,046|
There were no employees whose annual remuneration was £60,000 or more.
Key management personnel is defined as the trustees of the charity, who are not remunerated, together with the Executive Director and the Office Manager. The total remuneration for key management personnel was £37,760.
## **10 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **11 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**Cost**
At 1 January 2024
66,203
76,532
At 31 December 2024
66,203
76,532
**Depreciation and impairment**
At 1 January 2024
11,810
45,030
Depreciation charged in the period
1,324
4,229
At 31 December 2024
13,134
49,259
**Carrying amount**
At 31 December 2024
53,069
27,273
At 31 December 2023
54,393
28,194|**Total**
**£**
142,735|
|---|---|
||142,735|
||56,840
5,553|
||62,393|
||80,342|
||82,587|
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **12 Investment property**
|**Investment property**||
|---|---|
||**2024**|
||**£**|
|**Fair value**||
|At 1 January 2024 and 31 December 2024|1,065,405|
Investment property comprises of two apartments and one property.
Each apartment has an associated garage. The fair value of the apartments have been arrived at on the basis of a valuation carried out in 2024 by Bairstow Eves Chartered Surveyors, who are not connected to the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe that there has been no impairment to the investment property value. The historical cost of both apartments is a total of £132,406.
The fair value of the property has been arrived at on the basis of a valuation carried out on 24 January 2024 by Addison Townsend, who are not connected to the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe that there has been no impairment to the investment property value. The historical cost of the property is £316,621.
## **13 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2024**
**£**
14,687
1,973
-
16,660
**2024**
**£**
7,250|**2023**
**£**
25,353
-
1,988|
|---|---|---|
|||27,341|
|||**2023**
**£**
6,329|
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## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **15 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
80,342
-
Investment properties
1,065,405
-
Current assets/(liabilities)
283,174
114,513
1,543,434
-
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 December 2023:**
Tangible assets
82,587
-
Investment properties
1,065,405
-
Current assets/(liabilities)
423,843
-
1,571,835
-|**Total**
**2024**
**£**
80,342
1,065,405
397,687
1,543,434
**Total**
**2023**
**£**
82,587
1,065,405
423,843
1,571,835|
|---|---|
## **16 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||||**Movement**||**Movement**||
|---|---|---|---|---|---|---|
||||**in funds**||**in funds**||
|||**Balance at**|**Incoming**|
**Balance at**|**Incoming**|**Balance at**|
||**1**|**January 2023**|**resources**|**1 January 2024**|**resources**|**31 December**|
|||||||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|Thalassaemia medical research||114,513|-|-|-|-|
Restricted funds are solely for thalassaemia medical research.
- 22 -
## **UNITED KINGDOM THALASSAEMIA SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2024**_
## **17 Designated funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**Movement**||**Movement**||
|---|---|---|---|
|**in funds**||**in funds**||
|**Incoming**|
**Balance at**|**Incoming**|**Balance at**|
|**resources**|**1 January 2024**|**resources**|**31 December**|
||||**2024**|
|**£**|**£**|**£**|**£**|
Investment property acquisition: The funds were used to acquire a new investment property.
## **18 Events after the reporting date**
The board of trustees, after careful consideration and consultation with legal advisors, have concluded that it is necessary to change the legal status of our charity. This decision has been undertaken with the utmost care and consideration for the long-term sustainability and effectiveness of our organization. The reasons behind this decision are as follows:
1. Legal Compliance: Changing our charity status is a proactive step to ensure compliance with the evolving regulatory landscape. This will enable us to adapt to any new legal requirements and maintain the highest standards of transparency and accountability.
2. Operational Efficiency: By changing our status, we will be able to streamline our operational processes, reduce administrative burdens, and allocate resources more effectively. This will allow us to focus more on our core mission and maximize the impact of our charitable activities.
3. Financial Sustainability: The new status will offer us greater flexibility in fundraising efforts, including the ability to explore new funding sources and partnerships. This will enhance our financial sustainability, enabling us to expand our programs and make a lasting difference in the lives of those we serve.
This decision has been made after careful deliberation and thorough research. We have sought expert advice to ensure a smooth transition and to mitigate any potential challenges that may arise during this process. Our dedicated team will be working diligently to complete all the necessary paperwork and fulfil the legal requirements associated with the change.
We will also be organizing a members' meeting to discuss the change in detail and provide an opportunity for feedback and suggestions.
We believe that this change in charity status will ultimately strengthen our organization and enable us to achieve even greater impact in our mission continuing to make a positive difference in the lives of those in need.
## **19 Related party transactions**
There were no disclosable related party transactions during the period (2023 - none).
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